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Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.00 603.90 Td (\(Exact name of registrant as specified in its charter\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 138.30 584.80 Td (Delawar) Tj ET Q q 0 0 0 rg BT 170.63 584.80 Td (e) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 48.95 575.66 Td (\(State or other jurisdiction of incorporation or or) Tj ET Q q 0 0 0 rg BT 223.49 575.66 Td (ganization\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 577.07 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.75 584.80 Td (34-1505819) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 390.10 575.66 Td (\(I.R.S. Employer Identification No.\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 55.70 559.80 Td (5875 Landerbr) Tj ET Q q 0 0 0 rg BT 113.29 559.80 Td (ook Drive, Suite 220, Cleveland, Ohio) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 85.10 550.66 Td (\(Address of principal executive of) Tj ET Q q 0 0 0 rg BT 207.89 550.66 Td (fices\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 552.07 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.75 559.80 Td (44124-4069) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.60 550.66 Td (\(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 183.65 537.10 Td (Registrant's telephone number) Tj ET Q q 0 0 0 rg BT 292.38 537.10 Td (, including area code: ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 372.10 537.10 Td (\(440\)229-5151) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 202.50 526.30 Td (Securities registered pursuant to Section12\(b\) of the ) Tj ET Q q 0 0 0 rg BT 393.95 526.30 Td (Act:) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 27.5 503.8 m 286.5 503.8 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 503.8 m 585.5 503.8 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 124.00 507.06 Td (T) Tj ET Q q 0 0 0 rg BT 129.34 507.06 Td (itle of each class) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 289.00 507.06 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.75 507.06 Td (Name of each exchange on which registered) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 59.20 495.20 Td (Class) Tj ET Q q 0 0 0 rg BT 81.71 495.20 Td (A) Tj ET Q q 0 0 0 rg BT 87.71 495.20 Td ( Common Stock, Par) Tj ET Q q 0 0 0 rg BT 167.37 495.20 Td ( ) Tj ET Q q 0 0 0 rg BT 169.46 495.20 Td (V) Tj ET Q q 0 0 0 rg BT 175.47 495.20 Td (alue $1.00 Per) Tj ET Q q 0 0 0 rg BT 229.21 495.20 Td ( Shar) Tj ET Q q 0 0 0 rg BT 249.80 495.20 Td (e) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 404.75 495.20 Td (New ) Tj ET Q q 0 0 0 rg BT 423.66 495.20 Td (Y) Tj ET Q q 0 0 0 rg BT 429.16 495.20 Td (ork Stock Exchange) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 202.50 475.50 Td (Securities registered pursuant to Section12\(g\) of the ) Tj ET Q q 0 0 0 rg BT 393.95 475.50 Td (Act:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 208.45 464.70 Td (ClassB Common Stock, Par) Tj ET Q q 0 0 0 rg BT 317.04 464.70 Td ( ) Tj ET Q q 0 0 0 rg BT 319.13 464.70 Td (V) Tj ET Q q 0 0 0 rg BT 324.80 464.70 Td (alue $1.00 Per) Tj ET Q q 0 0 0 rg BT 378.87 464.70 Td ( Shar) Tj ET Q q 0 0 0 rg BT 399.47 464.70 Td (e) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.90 453.90 Td (\(T) Tj ET Q q 0 0 0 rg BT 288.08 453.90 Td (itle of class\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 437.10 Td (Indicate by check mark if the registrant is a well-known seasoned issuer) Tj ET Q q 0 0 0 rg BT 285.80 437.10 Td (, as defined in Rule405 of the Securities ) Tj ET Q q 0 0 0 rg BT 433.77 437.10 Td (Act.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.00 426.30 Td () Tj ET Q q 0 0 0 rg BT 524.92 426.30 Td (YES) Tj ET Q /GS0 gs q 8.02 0 0 9.18 544.17 424.36 cm /I3 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.19 426.30 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 561.19 426.30 Td (NO) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 574.69 426.30 Td () Tj ET Q /GS0 gs q 8.02 0 0 9.18 576.94 424.36 cm /I4 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 406.50 Td (Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section 15\(d\) of the ) Tj ET Q q 0 0 0 rg BT 441.88 406.50 Td (Act.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.00 395.70 Td () Tj ET Q q 0 0 0 rg BT 524.92 395.70 Td (YES) Tj ET Q /GS0 gs q 8.02 0 0 9.18 544.17 393.76 cm /I5 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.19 395.70 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 561.19 395.70 Td (NO) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 574.69 395.70 Td () Tj ET Q /GS0 gs q 8.02 0 0 9.18 576.94 393.76 cm /I6 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 375.90 Td (Indicate by check mark whether the registrant \(1\)has filed all reports required to be filed by Section13 or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 530.57 375.90 Td (Act of 1934 ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 365.10 Td (during the preceding 12months \(or for such shorter period that the registrant was required to file such reports\), and \(2\)has been subject to such filing ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 354.30 Td (requirements for the past 90days.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.40 343.50 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.65 343.50 Td (YES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.16 343.50 Td () Tj ET Q /GS0 gs q 8.02 0 0 9.18 542.41 341.56 cm /I7 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.43 343.50 Td (NO) Tj ET Q /GS0 gs q 8.02 0 0 9.18 576.93 341.56 cm /I8 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 323.70 Td (Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 312.90 Td (RegulationS-T) Tj ET Q q 0 0 0 rg BT 82.08 312.90 Td ( \( 232.405 of this chapter\) during the preceding 12months \(or for such shorter period that the registrant was required to submit such files\).) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 511.40 302.10 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.65 302.10 Td (YES) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.16 302.10 Td () Tj ET Q /GS0 gs q 8.02 0 0 9.18 542.41 300.16 cm /I9 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.43 302.10 Td (NO) Tj ET Q /GS0 gs q 8.02 0 0 9.18 576.93 300.16 cm /I10 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 285.30 Td (Indicate by check mark if disclosure of delinquent filers pursuant to Item405 of RegulationS-K \( 229.405\) is not contained herein, and will not be ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 274.50 Td (contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in PartIII of this Form 10-K or ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 263.70 Td (any amendment to this Form 10-K.) Tj ET Q /GS0 gs q 8.02 0 0 9.18 155.73 261.76 cm /I11 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 163.76 263.70 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 246.90 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 218.00 246.90 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 286.09 246.90 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 358.67 246.90 Td (, a non-accelerated filer) Tj ET Q q 0 0 0 rg BT 443.25 246.90 Td (, a smaller reporting company or an ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 236.10 Td (emer) Tj ET Q q 0 0 0 rg BT 44.82 236.10 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 123.23 236.10 Td (. See definitions of lar) Tj ET Q q 0 0 0 rg BT 206.79 236.10 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 274.87 236.10 Td (, accelerated filer) Tj ET Q q 0 0 0 rg BT 344.70 236.10 Td (, smaller reporting company and "emer) Tj ET Q q 0 0 0 rg BT 497.15 236.10 Td (ging growth company" ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 225.30 Td (in Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 138.97 225.30 Td (Act.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 30.00 206.06 Td (Lar) Tj ET Q q 0 0 0 rg BT 42.33 206.06 Td (ge accelerated ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 30.00 197.06 Td (filer) Tj ET Q /GS0 gs q 8.02 0 0 9.18 47.24 195.12 cm /I12 Do Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 123.00 206.20 Td (Accelerated filer) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 186.71 206.20 Td () Tj ET Q /GS0 gs q 8.02 0 0 9.04 188.96 204.26 cm /I13 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.98 206.20 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 253.25 206.06 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 8.02 0 0 9.18 331.70 204.12 cm /I14 Do Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 410.55 206.20 Td (Smaller) Tj ET Q q 0 0 0 rg BT 440.38 206.20 Td ( r) Tj ET Q q 0 0 0 rg BT 446.46 206.20 Td (eporting ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.70 197.20 Td (company ) Tj ET Q /GS0 gs q 8.02 0 0 9.04 470.95 195.26 cm /I15 Do Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.98 197.20 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.90 206.06 Td (Emer) Tj ET Q q 0 0 0 rg BT 538.23 206.06 Td (ging growth ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.95 197.06 Td (company) Tj ET Q /GS0 gs q 8.02 0 0 9.18 573.94 195.12 cm /I16 Do Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 172.50 Td (If an emer) Tj ET Q q 0 0 0 rg BT 63.81 172.50 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 142.22 172.50 Td (, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 161.70 Td (or revised financial accounting standards provided pursuant to Section 13\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 364.14 161.70 Td (Act. ) Tj ET Q /GS0 gs q 8.02 0 0 9.18 383.89 159.76 cm /I17 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 140.10 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 417.12 140.10 Td (Act\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 270.50 129.30 Td () Tj ET Q q 0 0 0 rg BT 281.42 129.30 Td (YES) Tj ET Q /GS0 gs q 8.02 0 0 9.18 300.67 127.36 cm /I18 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.69 129.30 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.69 129.30 Td (NO) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.19 129.30 Td () Tj ET Q /GS0 gs q 8.02 0 0 9.18 333.44 127.36 cm /I19 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 112.50 Td (Aggregate market value of Class) Tj ET Q q 0 0 0 rg BT 146.71 112.50 Td (A) Tj ET Q q 0 0 0 rg BT 152.71 112.50 Td ( Common Stock and ClassB Common Stock held by non-af) Tj ET Q q 0 0 0 rg BT 369.54 112.50 Td (filiates as of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.78 112.50 Td (June30, 2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.03 112.50 Td ( \(the last business day of the ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 101.70 Td (registrant's most recently completed second fiscal quarter\): ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 241.29 101.70 Td ($145,248,626) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 84.90 Td (Number of shares of Class) Tj ET Q q 0 0 0 rg BT 124.23 84.90 Td (A) Tj ET Q q 0 0 0 rg BT 130.24 84.90 Td ( Common Stock outstanding at ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 243.98 84.90 Td (February22, 2019) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 310.22 84.90 Td (: ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.97 84.90 Td (5,428,269) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 27.00 74.10 Td (Number of shares of ClassB Common Stock outstanding at ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 244.48 74.10 Td (February22, 2019) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 310.72 74.10 Td (: ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 315.47 74.10 Td (1,568,810) Tj ET Q BT /F1 9.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.85 54.30 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 318.43 54.30 Td (TED BY) Tj ET Q q 0 0 0 rg BT 351.36 54.30 Td ( REFERENCE) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 28.10 37.50 Td (Portions of the Company's Proxy Statement for its ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.21 37.50 Td (2019) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.21 37.50 Td ( annual meeting of stockholders are incorporated herein by reference in PartIII of this Form 10-K.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 25.5 27 m 137.5 27 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 25.5 23 m 137.5 23 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 27 m 249.5 27 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 137.5 23 m 249.5 23 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 27 m 361.5 27 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 23 m 361.5 23 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 27 m 473.5 27 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 23 m 473.5 23 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 27 m 585.5 27 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 23 m 585.5 23 l s BT /F1 10.00 Tf ET endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 242.9 756.68505859375 m 369.0328125 756.68505859375 l s q 0 0 0 rg BT 242.90 758.25 Td (NACCO INDUSTRIES, INC.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 252.65 744.68505859375 m 359.339453125 744.68505859375 l s q 0 0 0 rg BT 252.65 746.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.58 746.25 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.82 746.25 Td ( CONTENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.5 724.75 m 575.5 724.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 542.5 724.75 m 575.5 724.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 547.15 727.06 Td (P) Tj ET Q q 0 0 0 rg BT 551.33 727.06 Td (AGE) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 716.15 Td (P) Tj ET Q q 0 0 0 rg BT 42.83 716.15 Td (AR) Tj ET Q q 0 0 0 rg BT 55.51 716.15 Td (T) Tj ET Q q 0 0 0 rg BT 61.35 716.15 Td ( I.) Tj ET Q BT /F2 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 716.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 716.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 701.01 Td (Item 1.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 701.01 Td (BUSINESS) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 686.01 Td (Item 1A.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 686.01 Td (RISK F) Tj ET Q q 0 0 0 rg BT 149.09 686.01 Td (ACT) Tj ET Q q 0 0 0 rg BT 166.93 686.01 Td (ORS) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 671.01 Td (Item 1B.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 671.01 Td (UNRESOL) Tj ET Q q 0 0 0 rg BT 162.68 671.01 Td (VED ST) Tj ET Q q 0 0 0 rg BT 193.20 671.01 Td (AFF COMMENTS) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 656.01 Td (Item 2.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 656.01 Td (PROPER) Tj ET Q q 0 0 0 rg BT 155.47 656.01 Td (TIES) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 641.01 Td (Item 3.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 641.01 Td (LEGAL) Tj ET Q q 0 0 0 rg BT 151.16 641.01 Td ( PROCEEDINGS) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 626.01 Td (Item 4.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 626.01 Td (MINE SAFETY) Tj ET Q q 0 0 0 rg BT 180.92 626.01 Td ( DISCLOSURES) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 611.01 Td (Item 4A.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 611.01 Td (EXECUTIVE OFFICERS OF ) Tj ET Q q 0 0 0 rg BT 232.60 611.01 Td (THE REGISTRANT) Tj ET Q BT /F1 9.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 596.15 Td (P) Tj ET Q q 0 0 0 rg BT 42.83 596.15 Td (AR) Tj ET Q q 0 0 0 rg BT 55.51 596.15 Td (T) Tj ET Q q 0 0 0 rg BT 61.35 596.15 Td ( II.) Tj ET Q BT /F2 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 596.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 596.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 581.01 Td (Item 5.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 581.01 Td (MARKET) Tj ET Q q 0 0 0 rg BT 159.84 581.01 Td ( FOR REGISTRANTS COMMON EQUITY) Tj ET Q q 0 0 0 rg BT 324.18 581.01 Td (, RELA) Tj ET Q q 0 0 0 rg BT 351.18 581.01 Td (TED ST) Tj ET Q q 0 0 0 rg BT 381.27 581.01 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 452.52 581.01 Td (TTERS ) Tj ET Q q 0 0 0 rg BT 481.78 581.01 Td (AND ISSUER ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 572.01 Td (PURCHASES OF EQUITY) Tj ET Q q 0 0 0 rg BT 223.18 572.01 Td ( SECURITIES) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 556.01 Td (Item 6.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 556.01 Td (SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 217.41 556.01 Td ( DA) Tj ET Q q 0 0 0 rg BT 231.66 556.01 Td (T) Tj ET Q q 0 0 0 rg BT 236.44 556.01 Td (A) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 541.01 Td (Item 7.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 541.01 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 252.01 541.01 Td (AND ) Tj ET Q q 0 0 0 rg BT 273.26 541.01 Td (ANAL) Tj ET Q q 0 0 0 rg BT 297.36 541.01 Td (YSIS OF FINANCIAL) Tj ET Q q 0 0 0 rg BT 381.04 541.01 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 435.03 541.01 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 484.46 541.01 Td (TS OF ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 532.01 Td (OPERA) Tj ET Q q 0 0 0 rg BT 150.51 532.01 Td (TIONS) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 516.01 Td (Item 7A.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 516.01 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 161.27 516.01 Td (A) Tj ET Q q 0 0 0 rg BT 166.77 516.01 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 189.02 516.01 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 243.54 516.01 Td (A) Tj ET Q q 0 0 0 rg BT 249.04 516.01 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 334.04 516.01 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 364.88 516.01 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 404.97 516.01 Td ( RISK) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 501.01 Td (Item 8.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 501.01 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 170.16 501.01 Td ( ST) Tj ET Q q 0 0 0 rg BT 182.20 501.01 Td (A) Tj ET Q q 0 0 0 rg BT 187.70 501.01 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 230.95 501.01 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 309.98 501.01 Td (AR) Tj ET Q q 0 0 0 rg BT 321.99 501.01 Td (Y) Tj ET Q q 0 0 0 rg BT 328.16 501.01 Td ( DA) Tj ET Q q 0 0 0 rg BT 342.41 501.01 Td (T) Tj ET Q q 0 0 0 rg BT 347.18 501.01 Td (A) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 486.01 Td (Item 9.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 486.01 Td (CHANGES IN ) Tj ET Q q 0 0 0 rg BT 178.00 486.01 Td (AND DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 276.84 486.01 Td (WITH ) Tj ET Q q 0 0 0 rg BT 302.08 486.01 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 344.86 486.01 Td (ANTS ON ) Tj ET Q q 0 0 0 rg BT 385.37 486.01 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 446.62 486.01 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 516.53 486.01 Td ( ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 477.01 Td (DISCLOSURE) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 461.01 Td (Item 9A.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 461.01 Td (CONTROLS ) Tj ET Q q 0 0 0 rg BT 171.26 461.01 Td (AND PROCEDURES) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 446.01 Td (Item 9B.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 446.01 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 194.76 446.01 Td (TION) Tj ET Q BT /F1 9.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 431.15 Td (P) Tj ET Q q 0 0 0 rg BT 42.83 431.15 Td (AR) Tj ET Q q 0 0 0 rg BT 55.51 431.15 Td (T) Tj ET Q q 0 0 0 rg BT 61.35 431.15 Td ( III.) Tj ET Q BT /F2 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 431.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 431.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 416.01 Td (Item 10.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 416.01 Td (DIRECT) Tj ET Q q 0 0 0 rg BT 154.33 416.01 Td (ORS, EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 272.85 416.01 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 336.11 416.01 Td (TE GOVERNANCE) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 401.01 Td (Item 1) Tj ET Q q 0 0 0 rg BT 106.91 401.01 Td (1.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 401.01 Td (EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 222.75 401.01 Td (TION) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 386.01 Td (Item 12.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 386.01 Td (SECURITY) Tj ET Q q 0 0 0 rg BT 165.67 386.01 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 220.09 386.01 Td ( OF CER) Tj ET Q q 0 0 0 rg BT 253.05 386.01 Td (T) Tj ET Q q 0 0 0 rg BT 257.83 386.01 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 328.24 386.01 Td ( OWNERS ) Tj ET Q q 0 0 0 rg BT 370.24 386.01 Td (AND MANAGEMENT) Tj ET Q q 0 0 0 rg BT 456.82 386.01 Td ( ) Tj ET Q q 0 0 0 rg BT 458.58 386.01 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 502.83 386.01 Td (TED ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 377.01 Td (ST) Tj ET Q q 0 0 0 rg BT 132.34 377.01 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 203.59 377.01 Td (TTERS) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 361.01 Td (Item 13.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 361.01 Td (CER) Tj ET Q q 0 0 0 rg BT 138.96 361.01 Td (T) Tj ET Q q 0 0 0 rg BT 143.74 361.01 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 184.49 361.01 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 232.25 361.01 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 276.49 361.01 Td (TED ) Tj ET Q q 0 0 0 rg BT 296.08 361.01 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 368.59 361.01 Td (AND DIRECT) Tj ET Q q 0 0 0 rg BT 422.67 361.01 Td (OR INDEPENDENCE) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 346.01 Td (Item 14.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 346.01 Td (PRINCIP) Tj ET Q q 0 0 0 rg BT 155.68 346.01 Td (AL) Tj ET Q q 0 0 0 rg BT 167.35 346.01 Td ( ) Tj ET Q q 0 0 0 rg BT 169.10 346.01 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 211.88 346.01 Td (ANT) Tj ET Q q 0 0 0 rg BT 230.22 346.01 Td ( FEES ) Tj ET Q q 0 0 0 rg BT 255.22 346.01 Td (AND SER) Tj ET Q q 0 0 0 rg BT 292.76 346.01 Td (VICES) Tj ET Q BT /F1 9.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 38.00 331.15 Td (P) Tj ET Q q 0 0 0 rg BT 42.83 331.15 Td (AR) Tj ET Q q 0 0 0 rg BT 55.51 331.15 Td (T) Tj ET Q q 0 0 0 rg BT 61.35 331.15 Td ( IV) Tj ET Q q 0 0 0 rg BT 72.44 331.15 Td (.) Tj ET Q BT /F2 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 331.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 331.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 84.00 316.01 Td (Item 15.) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 122.00 316.01 Td (EXHIBITS ) Tj ET Q q 0 0 0 rg BT 164.75 316.01 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 234.66 316.01 Td ( ST) Tj ET Q q 0 0 0 rg BT 246.69 316.01 Td (A) Tj ET Q q 0 0 0 rg BT 252.20 316.01 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 288.53 316.01 Td ( SCHEDULES) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 301.01 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 64.50 301.01 Td (TURES) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 38.00 286.01 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 86.16 286.01 Td ( ST) Tj ET Q q 0 0 0 rg BT 98.20 286.01 Td (A) Tj ET Q q 0 0 0 rg BT 103.70 286.01 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 146.95 286.01 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 225.98 286.01 Td (AR) Tj ET Q q 0 0 0 rg BT 237.99 286.01 Td (Y) Tj ET Q q 0 0 0 rg BT 244.16 286.01 Td ( DA) Tj ET Q q 0 0 0 rg BT 258.41 286.01 Td (T) Tj ET Q q 0 0 0 rg BT 263.18 286.01 Td (A) Tj ET Q BT /F1 9.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 577.00 280.25 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 556.25 701.01 Td (1) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 686.01 Td (17) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 671.01 Td (22) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 656.01 Td (22) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 641.01 Td (22) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 626.01 Td (22) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 611.01 Td (22) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 581.01 Td (25) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 556.01 Td (25) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 541.01 Td (26) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 516.01 Td (39) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 501.01 Td (39) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 486.01 Td (39) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 461.01 Td (40) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 446.01 Td (40) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 416.01 Td (41) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 401.01 Td (41) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 386.01 Td (41) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 361.01 Td (41) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 346.01 Td (41) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 316.01 Td (42) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 301.01 Td (48) Tj ET Q BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.20 286.01 Td (F-1) Tj ET Q BT /F1 9.00 Tf ET endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.80 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 295.17 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 309.26 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 315.75 742.25 Td ( I) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Item1. BUSINESS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (General) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (NACCO Industries, Inc. \(NACCO or the Company\) is the public holding company for ) Tj ET Q q 0 0 0 rg BT 416.14 688.25 Td (The North ) Tj ET Q q 0 0 0 rg BT 459.46 688.25 Td (American Coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Corporation. ) Tj ET Q q 0 0 0 rg BT 105.64 676.25 Td (The North ) Tj ET Q q 0 0 0 rg BT 148.97 676.25 Td (American Coal Corporation and its af) Tj ET Q q 0 0 0 rg BT 299.58 676.25 Td (filiated companies \(collectively) Tj ET Q q 0 0 0 rg BT 424.99 676.25 Td (, NACoal\) operate surface ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (mines that supply coal primarily to power generation companies under long-term contracts, and provide other value-added ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (services to natural resource companies. In addition, its North ) Tj ET Q q 0 0 0 rg BT 297.71 652.25 Td (American Mining \("NAM"\) business operates and maintains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (draglines and other equipment under contracts with sellers of aggregates. NACoal) Tj ET Q q 0 0 0 rg BT 383.23 640.25 Td (s service-based business model aligns its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (operating goals with customers) Tj ET Q q 0 0 0 rg BT 177.29 628.25 Td ( objectives. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Additional information relating to financial and operating data on a segment basis \(including NACCO and Other\) is set forth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (under the heading Management) Tj ET Q q 0 0 0 rg BT 183.56 598.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 252.73 598.25 Td (Analysis of Financial Condition and Results of Operations contained in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (PartII of this Form 10-K and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.71 586.25 Td (in Note 15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.92 586.25 Td ( to the Consolidated Financial Statements contained in this Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (NACCO was incorporated as a Delaware corporation in 1986 in connection with the formation of a holding company structure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (for a predecessor corporation or) Tj ET Q q 0 0 0 rg BT 177.54 556.25 Td (ganized in 1913. ) Tj ET Q q 0 0 0 rg BT 245.86 556.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.30 556.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.89 556.25 Td (, the Company and its subsidiaries had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 544.25 Td (2,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.76 544.25 Td ( employees, including approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.55 544.25 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.05 544.25 Td ( employees at the Company) Tj ET Q q 0 0 0 rg BT 419.92 544.25 Td (s unconsolidated mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (The Company makes its annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (amendments to those reports available, free of char) Tj ET Q q 0 0 0 rg BT 254.18 502.25 Td (ge, through its website, www) Tj ET Q q 0 0 0 rg BT 370.74 502.25 Td (.nacco.com, as soon as reasonably practicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (after such material is electronically filed with, or furnished to, the Securities and Exchange Commission \(SEC\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (Significant Events) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (During 2018, 2017 and 2016, NACoal expanded its NAM business by adding several new customers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (On September 29, 2017, the Company spun-of) Tj ET Q q 0 0 0 rg BT 236.46 424.25 Td (f Hamilton Beach Brands Holding Company \("HBBHC"\), a former wholly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (owned subsidiary) Tj ET Q q 0 0 0 rg BT 119.62 412.25 Td (. ) Tj ET Q q 0 0 0 rg BT 124.07 412.25 Td (As a result of the spin-of) Tj ET Q q 0 0 0 rg BT 223.03 412.25 Td (f, NACCO stockholders received one share of HBBHC Class ) Tj ET Q q 0 0 0 rg BT 470.21 412.25 Td (A) Tj ET Q q 0 0 0 rg BT 476.88 412.25 Td ( common stock and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (one share of HBBHC Class B common stock for each share ofNACCO Class ) Tj ET Q q 0 0 0 rg BT 363.29 400.25 Td (A) Tj ET Q q 0 0 0 rg BT 369.96 400.25 Td ( or Class B common stock owned on the record ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (date for the spin-of) Tj ET Q q 0 0 0 rg BT 126.18 388.25 Td (f.) Tj ET Q q 0 0 0 rg BT 134.33 388.25 Td (The financial position, results of operations and cash flows of HBBHC are reflected as discontinued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (operations for all periods presented through the date of the spin-of) Tj ET Q q 0 0 0 rg BT 314.74 376.25 Td (f. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (On September 28, 2017, prior to the spin-of) Tj ET Q q 0 0 0 rg BT 225.07 352.25 Td (f, HBBHC paid NACCO a one-time $35.0 million cash dividend. ) Tj ET Q q 0 0 0 rg BT 489.03 352.25 Td (This payment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (in addition to $3.0 million in dividends HBBHC paid to NACCO from January1, 2017 to June30, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (On June 28, 2017, Southern Company and its subsidiary) Tj ET Q q 0 0 0 rg BT 274.89 316.25 Td (, Mississippi Power) Tj ET Q q 0 0 0 rg BT 353.12 316.25 Td (, suspended operations involving the coal gasifier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (portion of the Kemper County ener) Tj ET Q q 0 0 0 rg BT 190.62 304.25 Td (gy facility) Tj ET Q q 0 0 0 rg BT 230.79 304.25 Td (. Liberty Fuels Company) Tj ET Q q 0 0 0 rg BT 332.63 304.25 Td (, LLC \("Liberty"\), an unconsolidated mining operation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (was the sole supplier of coal to fuel the gasifier under its contract with Mississippi Power) Tj ET Q q 0 0 0 rg BT 406.88 292.25 Td (. Liberty ceased all mining and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (delivery of lignite in 2017 and commenced mine reclamation in 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (On January 1, 2017, Bisti Fuels Company) Tj ET Q q 0 0 0 rg BT 217.12 256.25 Td (, LLC \("Bisti"\), an unconsolidated mining operation, became the contract miner at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 81.20 244.25 Td (T) Tj ET Q q 0 0 0 rg BT 86.95 244.25 Td (ransitional Ener) Tj ET Q q 0 0 0 rg BT 150.36 244.25 Td (gy Company's \("NTEC's"\) Navajo Mine.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (Centennial Natural Resources, LLC \("Centennial"\) ceased active mining operations at the end of 2015. During 2016 and 2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (the Company's NACoal subsidiary recorded non-cash impairment char) Tj ET Q q 0 0 0 rg BT 332.93 208.25 Td (ges of $17.4 million and $1.0 million, respectively) Tj ET Q q 0 0 0 rg BT 534.48 208.25 Td (. ) Tj ET Q q 0 0 0 rg BT 539.30 208.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (carrying value of coal land and real estate and the assets held for sale were zero as of December 31, 2017. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (North ) Tj ET Q q 0 0 0 rg BT 77.50 160.25 Td (American Coal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 139.25 Td (General) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (NACoal operates surface mines that supply coal primarily to power generation companies under long-term contracts, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (provides other value-added services to natural resource companies. In addition, its NAM business operates and maintains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (draglines and other equipment under contracts with sellers of aggregates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (Coal is surface-mined from NACoal's mines in North Dakota, ) Tj ET Q q 0 0 0 rg BT 299.90 70.25 Td (T) Tj ET Q q 0 0 0 rg BT 305.31 70.25 Td (exas, Mississippi, Louisiana and on the Navajo Nation in New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Mexico. NACoal has the following operating coal mining subsidiaries: Bisti, Caddo Creek Resources Company) Tj ET Q q 0 0 0 rg BT 501.78 58.25 Td (, LLC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (\(Caddo Creek\), Camino Real Fuels, LLC \(Camino Real\), ) Tj ET Q q 0 0 0 rg BT 298.92 46.25 Td (The Coteau Properties Company \(Coteau\), Coyote Creek ) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Mining Company) Tj ET Q q 0 0 0 rg BT 120.19 742.10 Td (, LLC \(Coyote Creek\), Demery Resources Company) Tj ET Q q 0 0 0 rg BT 338.92 742.10 Td (, LLC \(Demery\), ) Tj ET Q q 0 0 0 rg BT 417.87 742.10 Td (The Falkirk Mining Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (\(Falkirk\), Mississippi Lignite Mining Company \(MLMC\) and ) Tj ET Q q 0 0 0 rg BT 317.57 730.10 Td (The Sabine Mining Company \(Sabine\). Liberty ceased all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (mining and delivery of lignite in 2017 and commenced mine reclamation in 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Coteau, Coyote, Falkirk, MLMC and Sabine supply lignite coal for power generation. Bisti and Camino Real supply sub-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (bituminous coal for power generation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.51 682.10 Td (Caddo Creek and Demery supply lignite coal for the production of activated carbon. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Each of these mines deliver their coal production to adjacent or nearby power plants, synfuels plants or activated carbon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (processing facilities under long-term supply contracts. ) Tj ET Q q 0 0 0 rg BT 269.48 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 278.52 658.10 Td (ith the exception of Camino Real, each mine is the exclusive supplier ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (to its customers' facilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (All of the operating coal mining subsidiaries other than MLMC are unconsolidated. ) Tj ET Q q 0 0 0 rg BT 386.69 622.10 Td (The unconsolidated coal mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (subsidiaries were formed to develop, construct and/or operate surface coal mines under long-term contracts and are capitalized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (primarily with debt financing provided by or supported by their respective customers, and without recourse to NACCO and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (NACoal. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (MLMC is a consolidated entity because NACoal pays all operating costs and provides the capital for the mine. MLMC sells ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (coal to its customer at a contractually agreed-upon price which adjusts monthly) Tj ET Q q 0 0 0 rg BT 366.75 550.10 Td (, primarily based on changes in the level of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (established indices which reflect general U.S. inflation rates. MLMC's customer) Tj ET Q q 0 0 0 rg BT 372.71 538.10 Td (, KMRC RH, LLC until ) Tj ET Q q 0 0 0 rg BT 470.22 538.10 Td (April 30, 2016 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Choctaw Generation Limited Partnership, LLLP) Tj ET Q q 0 0 0 rg BT 243.19 526.10 Td ( subsequent to ) Tj ET Q q 0 0 0 rg BT 302.36 526.10 Td (April 30, 2016, accounted for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.42 526.10 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.75 526.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.75 526.10 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.08 526.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (69%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 514.10 Td ( of NACoal's revenues for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.07 514.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.66 514.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.66 514.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.66 514.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.10 514.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.10 514.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 435.76 514.10 Td (. Centennial, which ceased coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (production at the end of 2015, is also a consolidated entity) Tj ET Q q 0 0 0 rg BT 282.91 502.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (NAM primarily provides value-added services for independently owned limestone quarries and is generally reimbursed by its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (customers based on production costs plus a management fee per unit of limestone delivered. NAM's lar) Tj ET Q q 0 0 0 rg BT 465.68 466.10 Td (gest customer) Tj ET Q q 0 0 0 rg BT 520.54 466.10 Td (, Cemex ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Construction Materials of Florida, LLC \("Cemex"\), accounted for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.13 454.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.46 454.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.46 454.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.79 454.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.23 454.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.56 454.10 Td ( of NACoal's revenues for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 442.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 442.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.38 442.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.38 442.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.82 442.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.82 442.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 306.48 442.10 Td (. ) Tj ET Q q 0 0 0 rg BT 311.30 442.10 Td (The financial results for NAM are included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (consolidated mining operations or unconsolidated mining operations based on each entity's structure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (The contracts with the customers of the unconsolidated subsidiaries eliminate exposure to spot coal and aggregates market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (price fluctuations and are based on a "management fee" approach, whereby compensation includes reimbursement of all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (operating costs, plus a fee based on the amount of coal or limestone delivered. ) Tj ET Q q 0 0 0 rg BT 365.28 382.10 Td (The fees earned adjust over time in line with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (various indices which reflect general U.S. inflation rates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (NACoal also provides coal handling, processing and drying services for a number of customers. For example, NoDak Ener) Tj ET Q q 0 0 0 rg BT 541.91 346.10 Td (gy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Services, LLC \("NoDak"\) operates and maintains a coal processing facility for a customer's power plant. North ) Tj ET Q q 0 0 0 rg BT 499.00 334.10 Td (American Coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Royalty Company \("NACRC"\) provides surface and mineral acquisition and lease maintenance services related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Company's operations and owns the mineral rights of various properties throughout the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (NACoal's total coal reserves approximate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.69 286.10 Td (1.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.80 286.10 Td ( tons \(including the unconsolidated coal mining subsidiaries\), with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 274.10 Td (1.0 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.37 274.10 Td ( tons committed to customers pursuant to long-term contracts. ) Tj ET Q q 0 0 0 rg BT 401.33 274.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.83 274.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.41 274.10 Td (, NACoal's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (operating mines consisted both of mines where the reserves were acquired \(whether in fee or through leases\) and developed by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (NACoal, as well as mines where reserves are owned or leased by the customers of the mines and developed by NACoal.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (The contracts under which certain of the unconsolidated subsidiaries operate provide that, under certain conditions, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (default, the customer\(s\) involved may elect or be obligated to acquire the assets \(subject to the liabilities\) or the capital stock of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (the NACoal mining subsidiary for an amount ef) Tj ET Q q 0 0 0 rg BT 241.17 202.10 Td (fectively equal to book value. NACoal does not know of any conditions of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (default that currently exist. ) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Sales, Marketing and Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (The principal coal customers of NACoal are electric utilities, an independent power provider) Tj ET Q q 0 0 0 rg BT 420.85 730.25 Td (, producers of activated carbon and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (a synfuels plant. ) Tj ET Q q 0 0 0 rg BT 117.58 718.25 Td (The total coal severed by mine \(in millions of tons\) for the two years ended December 31 are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 694.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 694.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 694.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 694.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 664.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 664.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 664.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 664.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 634.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 634.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 634.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 604.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 604.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 604.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 574.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 574.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 574.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 574.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 544.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.50 544.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 544.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 544.75 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 694.75 m 497.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 694.75 m 561.5 694.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 544.75 m 497.5 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 544.75 m 561.5 544.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 530.75 m 497.5 530.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 528.75 m 497.5 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 530.75 m 561.5 530.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 528.75 m 561.5 528.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 699.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.00 698.98 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.00 698.98 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 684.43 Td (Unconsolidated Mines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 684.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 684.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 669.42 Td (Coteau) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 669.42 Td (14.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 669.42 Td (14.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 654.42 Td (Falkirk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 654.42 Td (8.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 654.42 Td (7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 639.42 Td (Sabine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 639.42 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 639.42 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 624.42 Td (Bisti) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 624.42 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 624.42 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 609.42 Td (Camino Real) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 609.42 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 609.42 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 594.42 Td (Coyote Creek) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 594.42 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 594.42 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 579.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 579.42 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 579.42 Td (0.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 564.43 Td (Consolidated Mines) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 549.42 Td (Mississippi Lignite Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.15 549.42 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.15 549.42 Td (2.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 534.43 Td (T) Tj ET Q q 0 0 0 rg BT 58.75 534.43 Td (otal tons sever) Tj ET Q q 0 0 0 rg BT 119.67 534.43 Td (ed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 534.42 Td (37.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 534.42 Td (37.1) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 497.25 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.25 Td (NACoal has experienced limited variability in its results due to the ef) Tj ET Q q 0 0 0 rg BT 327.25 476.25 Td (fect of seasonality; however) Tj ET Q q 0 0 0 rg BT 439.30 476.25 Td (, variations in coal demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.25 Td (can occur as a result of the timing of planned or unplanned outage days at NACoal's customers' facilities. ) Tj ET Q q 0 0 0 rg BT 473.02 464.25 Td (V) Tj ET Q q 0 0 0 rg BT 479.14 464.25 Td (ariations in coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.25 Td (demand can also occur as a result of changes in market prices of competing fuels such as natural gas, wind and solar power and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.25 Td (demand for electricity) Tj ET Q q 0 0 0 rg BT 137.64 440.25 Td (, which can fluctuate based on changes in weather patterns.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 416.25 Td (Competition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td (The coal industry competes with other sources of ener) Tj ET Q q 0 0 0 rg BT 266.42 398.25 Td (gy) Tj ET Q q 0 0 0 rg BT 275.77 398.25 Td (, particularly oil, gas, hydro-electric power and nuclear power) Tj ET Q q 0 0 0 rg BT 522.61 398.25 Td (. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.25 Td (addition, it competes with subsidized sources of ener) Tj ET Q q 0 0 0 rg BT 261.44 386.25 Td (gy) Tj ET Q q 0 0 0 rg BT 270.79 386.25 Td (, primarily wind and solar) Tj ET Q q 0 0 0 rg BT 373.82 386.25 Td (. ) Tj ET Q q 0 0 0 rg BT 378.27 386.25 Td (Among the factors that af) Tj ET Q q 0 0 0 rg BT 480.28 386.25 Td (fect competition are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.25 Td (the price and availability of oil and natural gas, environmental and related political considerations, the time and expenditures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (required to develop new ener) Tj ET Q q 0 0 0 rg BT 166.44 362.25 Td (gy sources, the cost of transportation, the cost of compliance with governmental regulations, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (impact of federal and state ener) Tj ET Q q 0 0 0 rg BT 175.59 350.25 Td (gy policies and the impact of subsidies on renewable pricing. ) Tj ET Q q 0 0 0 rg BT 422.29 350.25 Td (The ability of NACoal to maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (comparable levels of coal production at existing facilities and to market and develop its reserves will depend upon the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (interaction of these factors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.25 Td (Based on industry information, NACoal believes it was one of the ten lar) Tj ET Q q 0 0 0 rg BT 341.70 308.25 Td (gest coal producers in the U.S. in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.95 308.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.95 308.25 Td ( based on total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.25 Td (coal tons produced.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 272.25 Td (Employees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.44 254.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.03 254.25 Td (, NACoal had approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.05 254.25 Td (2,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.55 254.25 Td ( employees, including approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.35 254.25 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.85 254.25 Td ( employees at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.25 Td (unconsolidated mining operations of which approximately 255 are represented by a union at Bisti. NACoal believes its current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.25 Td (labor relations with both union and non-union employees are satisfactory) Tj ET Q q 0 0 0 rg BT 341.78 230.25 Td (.) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The location, mine type, reserve data, coal quality characteristics, sales tonnage and contract expiration date for the mines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (operated by NACoal were as follows:) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 163.95 704.53505859375 m 447.983203125 704.53505859375 l s q 0 0 0 rg BT 163.95 706.10 Td (COAL) Tj ET Q q 0 0 0 rg BT 192.29 706.10 Td ( MINING OPERA) Tj ET Q q 0 0 0 rg BT 270.99 706.10 Td (TIONS ON ) Tj ET Q q 0 0 0 rg BT 321.56 706.10 Td (AN AS RECEIVED BASIS) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 616.60 98.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 616.60 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 616.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 616.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 616.60 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 616.60 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 616.60 34.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 616.60 34.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 616.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 616.60 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 616.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 616.60 20.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 616.60 15.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 585.60 98.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 585.60 41.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 585.60 40.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 585.60 47.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 585.60 27.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 585.60 36.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 585.60 34.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 585.60 34.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 585.60 47.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 585.60 36.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 585.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 585.60 20.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 585.60 15.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 540.60 98.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 540.60 41.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 540.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 540.60 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 540.60 27.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 540.60 36.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 540.60 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 540.60 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 540.60 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 540.60 36.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 540.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 540.60 20.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 540.60 15.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 490.60 98.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 490.60 41.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 490.60 40.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 490.60 47.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 490.60 27.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 490.60 36.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 490.60 34.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 490.60 34.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 490.60 47.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 490.60 36.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 490.60 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 490.60 20.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 490.60 15.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 443.60 98.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 443.60 41.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 443.60 40.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 443.60 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 443.60 27.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 443.60 36.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 443.60 34.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 443.60 34.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 443.60 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 443.60 36.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 443.60 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 443.60 20.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 443.60 15.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 390.60 98.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 390.60 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 390.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 390.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 390.60 27.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 390.60 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 390.60 34.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 390.60 34.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 390.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 390.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 322.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 322.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 322.60 36.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 322.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 322.60 20.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 322.60 15.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 298.60 98.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.00 298.60 41.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 298.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.00 298.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 233.00 298.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.00 298.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 298.60 4.00 -12.00 re f /GS0 gs 0.8 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gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 250.60 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 250.60 20.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.00 250.60 15.00 -19.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193 683.6 m 233 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 233 683.6 m 237 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237 683.6 m 284 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 683.6 m 288 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 683.6 m 315 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 683.6 m 319 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 683.6 m 355 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 683.6 m 359 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 683.6 m 393 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393 683.6 m 397 683.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 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319 262.6 m 355 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 262.6 m 482 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193 250.60000000000002 m 233 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237 250.60000000000002 m 284 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 250.60000000000002 m 315 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 250.60000000000002 m 355 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 250.60000000000002 m 482 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 262.6 m 522 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 250.60000000000002 m 522 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193 232.60000000000002 m 233 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193 230.60000000000002 m 233 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237 232.60000000000002 m 284 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237 230.60000000000002 m 284 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 232.60000000000002 m 315 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 230.60000000000002 m 315 230.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 232.60000000000002 m 482 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 230.60000000000002 m 482 230.60000000000002 l s BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 687.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 687.65 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 304.50 687.66 Td (2018) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 471.00 687.66 Td (2017) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 675.65 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 198.60 675.66 Td (Pr) Tj ET Q q 0 0 0 rg BT 205.92 675.66 Td (oven and Pr) Tj ET Q q 0 0 0 rg BT 241.96 675.66 Td (obable Reserves \(a\)\(b\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 336.50 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 375.50 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 413.50 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 458.00 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 503.50 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 543.00 675.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 642.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 642.65 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 195.55 656.66 Td (Committed) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 203.00 649.66 Td (Under) Tj ET Q q 0 0 0 rg BT 221.93 649.66 Td ( ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 199.05 642.66 Td (Contract) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 239.55 642.66 Td (Uncommitted) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 293.30 642.66 Td (T) Tj ET Q q 0 0 0 rg BT 297.65 642.66 Td (otal) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 329.40 634.66 Td (T) Tj ET Q q 0 0 0 rg BT 333.43 634.66 Td (ons ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 322.15 627.66 Td (Deliver) Tj ET Q q 0 0 0 rg BT 343.79 627.66 Td (ed) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 321.90 620.66 Td (\(Millions\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 364.80 634.66 Td (Owned ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 362.25 627.66 Td (Reserves) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 369.65 620.66 Td (\(%\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 403.00 634.66 Td (Leased ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 400.25 627.66 Td (Reserves) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 407.65 620.66 Td (\(%\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 450.30 655.66 Td (T) Tj ET Q q 0 0 0 rg BT 454.33 655.66 Td (otal ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 441.05 648.66 Td (Committed ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 452.35 641.66 Td (and ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 437.55 634.66 Td (Uncommitted) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 440.75 627.66 Td (\(Millions of ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 449.75 620.66 Td (T) Tj ET Q q 0 0 0 rg BT 453.78 620.66 Td (ons\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 496.40 634.66 Td (T) Tj ET Q q 0 0 0 rg BT 500.43 634.66 Td (ons ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 489.15 627.66 Td (Deliver) Tj ET Q q 0 0 0 rg BT 510.79 627.66 Td (ed) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 488.90 620.66 Td (\(Millions\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 529.55 627.66 Td (Contract) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 531.55 620.66 Td (Expir) Tj ET Q q 0 0 0 rg BT 548.54 620.66 Td (es) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 620.66 Td (Mine/Reserve) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 156.85 627.66 Td (T) Tj ET Q q 0 0 0 rg BT 161.26 627.66 Td (ype of) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 160.20 620.66 Td (Mine) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 227.20 620.66 Td (\(Millions of ) Tj ET Q q 0 0 0 rg BT 263.24 620.66 Td (T) Tj ET Q q 0 0 0 rg BT 267.27 620.66 Td (ons\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 608.66 Td (Unconsolidated Mines) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 195.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 239.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 290.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 361.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 399.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 437.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 488.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 608.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 596.65 Td (Freedom Mine \(c\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 589.65 Td (The Coteau Properties Company) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 596.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 589.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.40 589.65 Td (444.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 274.15 589.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 589.65 Td (444.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 339.90 589.65 Td (14.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 380.65 589.65 Td (3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 386.65 589.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 417.65 589.65 Td (97) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 589.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 589.65 Td (452.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 506.90 589.65 Td (14.7) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 589.65 Td (2022) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 589.65 Td (\(d\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 576.65 Td (Falkirk Mine \(c\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 569.65 Td (The Falkirk Mining Company) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 576.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 569.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.40 569.65 Td (373.6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 274.15 569.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 569.65 Td (373.6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 569.65 Td (8.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 380.65 569.65 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 386.65 569.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 417.65 569.65 Td (99) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 569.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 569.65 Td (374.3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 569.65 Td (7.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 569.65 Td (2045) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 569.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 551.65 Td (South Hallsville No. 1 Mine \(c\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 544.65 Td (The Sabine Mining Company) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 551.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 544.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 221.70 544.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 272.70 544.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.70 544.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 544.65 Td (3.8) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.70 544.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 419.70 544.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 470.70 544.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 544.65 Td (3.6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 544.65 Td (2035) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 544.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 533.25 Td (Five Forks Mine \(c\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 526.25 Td (Demery Resources Company) Tj ET Q q 0 0 0 rg BT 134.08 526.25 Td (, ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 519.25 Td (LLC) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 526.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 519.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 221.70 519.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 272.70 519.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.70 519.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 519.65 Td (0.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.70 519.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 419.70 519.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 470.70 519.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 519.65 Td (0.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 519.65 Td (2030) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 519.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 508.25 Td (Marshall Mine \(c\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 501.25 Td (Caddo Creek Resources ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 494.25 Td (Company) Tj ET Q q 0 0 0 rg BT 79.27 494.25 Td (, LLC) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 501.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 494.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 221.70 494.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 272.70 494.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.70 494.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 494.65 Td (0.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.70 494.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 419.70 494.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 470.70 494.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 494.65 Td (0.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 494.65 Td (2044) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 494.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 474.65 Td (Eagle Pass Mine \(c\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 467.65 Td (Camino Real Fuels, LLC) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 474.65 Td (Surface ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 151.65 467.65 Td (Bituminous) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 221.70 467.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 272.70 467.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.70 467.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 467.65 Td (2.1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.70 467.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 419.70 467.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 470.70 467.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 467.65 Td (2.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 467.65 Td (2021) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 454.65 Td (Liberty Mine \(c\)\(f\)-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 447.65 Td (Liberty Fuels Company) Tj ET Q q 0 0 0 rg BT 118.54 447.65 Td (, LLC) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 454.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 447.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 221.70 447.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 272.70 447.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.70 447.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 447.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.70 447.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 419.70 447.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 470.70 447.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 509.75 447.65 Td (0.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 447.65 Td (2028) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 447.65 Td (\(f\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 432.65 Td (Coyote Creek Mine \(c\)- ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 425.65 Td (Coyote Creek Mining Company) Tj ET Q q 0 0 0 rg BT 142.06 425.65 Td (, ) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 418.65 Td (LLC) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 425.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 418.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 217.90 418.65 Td (72.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 274.15 418.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 299.85 418.65 Td (72.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 418.65 Td (2.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 380.65 418.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 386.65 418.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 414.15 418.65 Td (100) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 418.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 466.90 418.65 Td (74.9) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 418.65 Td (2.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 418.65 Td (2040) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 401.65 Td (Navajo Mine \(c\)- Bisti Fuels) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 394.65 Td (Company) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 407.25 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 161.35 400.25 Td (Sub-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 152.20 393.25 Td (bituminous) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 221.70 394.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 272.70 394.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 303.70 394.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 394.65 Td (4.1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.70 394.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 419.70 394.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 470.70 394.65 Td (\(e\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 394.65 Td (3.7) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 394.65 Td (2031) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 382.66 Td (Consolidated Mines) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 195.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 239.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 290.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 399.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 437.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 382.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 371.25 Td (Red Hills Mine-) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 364.25 Td (Mississippi Lignite Mining) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 357.25 Td (Company) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 364.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.85 357.65 Td (Lignite) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.40 357.65 Td (105.8) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 357.65 Td (125.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 357.65 Td (231.3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 343.40 357.65 Td (3.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 377.15 357.65 Td (33) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 386.65 357.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 417.65 357.65 Td (67) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 357.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 357.65 Td (234.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 510.40 357.65 Td (2.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 357.65 Td (2032) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 357.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 338.65 Td (Centennial Natural Resources) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.30 345.65 Td (Surface) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 151.65 338.65 Td (Bituminous) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 338.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 268.90 338.65 Td (50.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 299.85 338.65 Td (50.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 338.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 377.15 338.65 Td (30) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 386.65 338.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 417.65 338.65 Td (70) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 338.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 466.90 338.65 Td (51.4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 512.15 338.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 534.30 338.65 Td (\(g\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 326.65 Td (T) Tj ET Q q 0 0 0 rg BT 56.53 326.65 Td (otal Developed) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 326.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.40 326.65 Td (996.1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 326.65 Td (175.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 291.10 326.65 Td (1,171.6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 339.90 326.65 Td (38.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 361.50 326.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 399.50 326.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 458.15 326.65 Td (1,187.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 506.90 326.65 Td (37.2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 326.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 326.65 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 314.66 Td (Undeveloped Mines) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 195.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 239.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 290.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 361.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 399.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 437.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 488.50 314.65 Td (.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 314.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 302.65 Td (North Dakota) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 302.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 302.65 Td (243.7) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 302.65 Td (243.7) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 302.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 414.15 302.65 Td (100) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 302.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 302.65 Td (243.7) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 512.15 302.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 302.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 290.65 Td (T) Tj ET Q q 0 0 0 rg BT 56.53 290.65 Td (exas) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 290.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 290.65 Td (222.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 290.65 Td (222.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 290.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 414.15 290.65 Td (100) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 290.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 290.65 Td (222.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 512.15 290.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 290.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 278.65 Td (Eastern \(h\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 278.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 268.90 278.65 Td (41.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 299.85 278.65 Td (41.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 278.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 414.15 278.65 Td (100) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 278.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 466.90 278.65 Td (15.3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 512.15 278.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 278.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 266.65 Td (Mississippi) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 266.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 266.65 Td (187.8) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 266.65 Td (187.8) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 266.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 414.15 266.65 Td (100) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 424.65 266.65 Td (%) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 266.65 Td (187.8) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 512.15 266.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 266.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 254.65 Td (T) Tj ET Q q 0 0 0 rg BT 56.53 254.65 Td (otal Undeveloped) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 223.15 254.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 254.65 Td (695.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.35 254.65 Td (695.0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 254.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 361.50 254.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 399.50 254.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 463.40 254.65 Td (669.3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 512.15 254.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 254.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 235.65 Td (T) Tj ET Q q 0 0 0 rg BT 56.29 235.65 Td (otal Developed/Undeveloped) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 150.50 235.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 214.40 235.65 Td (996.1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 265.40 235.65 Td (870.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 291.10 235.65 Td (1,866.6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.50 235.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 361.50 235.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 399.50 235.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 458.15 235.65 Td (1,856.5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 488.50 235.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 528.50 235.65 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 548.50 235.65 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (5) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 706.50 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 706.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 706.50 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 706.50 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 706.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 706.50 31.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 706.50 36.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 706.50 32.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 706.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 706.50 36.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 671.50 131.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 671.50 57.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 671.50 78.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 671.50 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 671.50 42.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 671.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 671.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 671.50 32.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 671.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 671.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 629.50 131.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 629.50 57.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 629.50 78.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 629.50 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 629.50 42.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 629.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 629.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 629.50 32.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 629.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 629.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 580.50 131.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 580.50 57.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 580.50 78.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 580.50 37.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 580.50 42.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 580.50 31.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 580.50 36.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 580.50 32.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 580.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 580.50 36.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 538.50 131.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 538.50 57.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 538.50 78.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 538.50 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 538.50 42.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 538.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 538.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 538.50 32.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 538.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 538.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.50 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 488.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 488.50 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 488.50 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 488.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 488.50 31.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 488.50 36.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 488.50 32.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 488.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 488.50 36.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 446.50 131.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 446.50 57.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 446.50 78.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 446.50 37.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 446.50 42.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 446.50 31.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 446.50 36.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 446.50 32.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 446.50 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 446.50 36.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 388.50 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 388.50 57.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 388.50 78.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 388.50 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 388.50 42.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 388.50 31.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 388.50 36.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 388.50 32.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 388.50 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 388.50 36.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 362.50 131.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 362.50 57.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 242.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 362.50 78.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 362.50 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 362.50 42.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 362.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 362.50 36.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 362.50 32.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.50 362.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 362.50 36.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 736.5 m 446.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 736.5 m 450.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 736.5 m 486.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 736.5 m 490.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 736.5 m 522.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522.5 736.5 m 526.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 736.5 m 562.5 736.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 706.5 m 181.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 706.5 m 242.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246.5 706.5 m 324.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328.5 706.5 m 365.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 706.5 m 411.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415.5 706.5 m 446.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 706.5 m 486.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 706.5 m 522.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526.5 706.5 m 562.5 706.5 l s BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 740.55 Td () Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 188.00 740.55 Td () Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 435.90 740.56 Td (A) Tj ET Q q 0 0 0 rg BT 440.70 740.56 Td (verage Coal Quality \(As r) Tj ET Q q 0 0 0 rg BT 516.97 740.56 Td (eceived\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 53.00 710.56 Td (Mine/Reserve) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 193.70 710.56 Td (T) Tj ET Q q 0 0 0 rg BT 198.11 710.56 Td (ype of Mine) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 257.05 717.56 Td (Coal Formation or) Tj ET Q q 0 0 0 rg BT 312.91 717.56 Td ( ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 265.25 710.56 Td (Coal Seam\(s\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 334.30 729.26 Td (A) Tj ET Q q 0 0 0 rg BT 338.84 729.26 Td (verage ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 338.30 722.26 Td (Seam ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 331.50 715.26 Td (Thickness ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 338.70 708.31 Td (\(feet\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 377.80 717.56 Td (A) Tj ET Q q 0 0 0 rg BT 382.34 717.56 Td (verage ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 372.20 710.56 Td (Depth \(feet\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 418.05 710.56 Td (BTUs/lb) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 458.50 717.56 Td (Sulfur) Tj ET Q q 0 0 0 rg BT 477.44 717.56 Td ( ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 462.15 710.56 Td (\(%\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 500.15 717.56 Td (Ash) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 499.25 710.56 Td ( \(%\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 530.45 717.56 Td (Moistur) Tj ET Q q 0 0 0 rg BT 554.43 717.56 Td (e) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 538.15 710.56 Td (\(%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 697.73 Td (Unconsolidated Mines) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.00 697.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 683.75 Td (Freedom Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 675.75 Td (The Coteau Properties Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.70 675.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.20 675.75 Td (Beulah-Zap Seam) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 675.75 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 675.75 Td (130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 675.75 Td (6,700) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 675.75 Td (0.90) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 675.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 675.75 Td (9) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 675.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 675.75 Td (36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 675.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 662.75 Td (Falkirk Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 654.75 Td (The Falkirk Mining Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.70 654.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.45 662.75 Td (Hagel ) Tj ET Q q 0 0 0 rg BT 276.11 662.75 Td (A&B, ) Tj ET Q q 0 0 0 rg BT 297.30 662.75 Td (T) Tj ET Q q 0 0 0 rg BT 301.63 662.75 Td (avis) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.00 654.75 Td (Creek Seams) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.30 654.75 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 654.75 Td (90) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 654.75 Td (6,200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 654.75 Td (0.62) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 654.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 654.75 Td (1) Tj ET Q q 0 0 0 rg BT 511.30 654.75 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 654.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 654.75 Td (38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 654.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 641.75 Td (South Hallsville No. 1 Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 633.75 Td (The Sabine Mining Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.70 633.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.55 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.10 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.10 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.10 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.10 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.10 633.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 620.75 Td (Five Forks Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 612.75 Td (Demery Resources Company) Tj ET Q q 0 0 0 rg BT 146.49 612.75 Td (, LLC) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.70 612.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.55 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.10 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.10 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.10 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.10 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.10 612.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 600.45 Td (Marshall Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 592.45 Td (Caddo Creek Resources Company) Tj ET Q q 0 0 0 rg BT 162.72 592.45 Td (,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 584.45 Td (LLC) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.70 584.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.55 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.10 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.10 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.10 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.10 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.10 584.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 572.45 Td (Eagle Pass Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 564.45 Td (Camino Real Fuels, LLC) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.25 572.45 Td (Surface) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.80 564.45 Td (Bituminous) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.55 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.10 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.10 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.10 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.10 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.10 565.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 550.75 Td (Liberty Mine \(c\)\(f\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 542.75 Td (Liberty Fuels Company) Tj ET Q q 0 0 0 rg BT 128.73 542.75 Td (, LLC) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 542.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.55 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.10 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.10 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.10 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.10 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.10 542.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 529.75 Td (Coyote Creek Mine \(c\)-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 521.75 Td (Coyote Creek Mining Company) Tj ET Q q 0 0 0 rg BT 155.62 521.75 Td (, LLC) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 521.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.20 521.75 Td (Beulah-Zap Seam) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 521.75 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.30 521.75 Td (95) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 521.75 Td (6,900) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 521.75 Td (0.98) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 521.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 521.75 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 521.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 521.75 Td (36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 521.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 500.75 Td (Navajo Mine \(c\)- Bisti Fuels) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 492.75 Td (Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.25 508.75 Td (Surface) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 205.90 500.75 Td (Sub-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 195.45 492.75 Td (bituminous) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.55 492.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.10 492.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.10 492.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.10 492.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.10 492.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.10 492.75 Td (\(e\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.10 492.75 Td (\(e\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 479.73 Td (Consolidated Mines) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 331.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.00 479.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 458.75 Td (Red Hills Mine-) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 450.75 Td (Mississippi Lignite Mining Company) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.70 450.75 Td (Surface Lignite) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 259.30 458.75 Td (C, D, E, F) Tj ET Q q 0 0 0 rg BT 291.43 458.75 Td (, G, H) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.55 450.75 Td (Seams) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.30 450.75 Td (3.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 450.75 Td (150) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 450.75 Td (5,200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 450.75 Td (0.60) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 450.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 450.75 Td (14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 450.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 450.75 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 450.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 405.75 Td (Centennial Natural Resources) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 201.25 413.75 Td (Surface) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 194.80 405.75 Td (Bituminous) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.55 437.75 Td (Black Creek, New) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.30 429.75 Td (Castle, Mary Lee,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 251.85 421.75 Td (Jef) Tj ET Q q 0 0 0 rg BT 261.11 421.75 Td (ferson, ) Tj ET Q q 0 0 0 rg BT 284.81 421.75 Td (American,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.75 413.75 Td (Nickel Plate, Pratt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.55 405.75 Td (Seams) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 348.30 405.75 Td (1.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 405.75 Td (178) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.30 405.75 Td (13,226) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.30 405.75 Td (2.00) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 405.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 405.75 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 405.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 405.75 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 405.75 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 392.73 Td (Undeveloped Mines) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 392.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.00 392.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 379.75 Td (North Dakota) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 379.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.65 379.75 Td (Fort Union Formation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 354.30 379.75 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 379.75 Td (130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 379.75 Td (6,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 379.75 Td (0.8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 379.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.30 379.75 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 379.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 379.75 Td (38) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 379.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 366.75 Td (T) Tj ET Q q 0 0 0 rg BT 57.61 366.75 Td (exas) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 366.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.70 366.75 Td (W) Tj ET Q q 0 0 0 rg BT 263.09 366.75 Td (ilcox Formation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.30 366.75 Td (5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 366.75 Td (120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 366.75 Td (6,800) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 366.75 Td (1.0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 366.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 366.75 Td (16) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 366.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 366.75 Td (30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 366.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 345.75 Td (Eastern) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 345.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.20 353.75 Td (Freeport & Kittanning) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.55 345.75 Td (Seams) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.30 345.75 Td (4) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 345.75 Td (400) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 421.30 345.75 Td (12,070) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 345.75 Td (3.3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 345.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 345.75 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 345.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.30 345.75 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 345.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 332.75 Td (Mississippi) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.30 332.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.70 332.75 Td (W) Tj ET Q q 0 0 0 rg BT 262.93 332.75 Td (ilcox Formation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.30 332.75 Td (5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.25 332.75 Td (130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.30 332.75 Td (5,200) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 332.75 Td (0.6) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.30 332.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.30 332.75 Td (13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.30 332.75 Td (%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.30 332.75 Td (44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 555.30 332.75 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 307.40 Td (\(a\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 307.40 Td (Committed and uncommitted tons represent in-place estimates. ) Tj ET Q q 0 0 0 rg BT 289.80 307.40 Td (The projected extraction loss is approximately 10% of the proven and probable ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 297.80 Td (reserves, except with respect to the Eastern Undeveloped Mines, in which case the projected extraction loss is approximately 50% of the proven and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 288.20 Td (probable reserves.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 269.60 Td (\(b\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 269.60 Td (NACoal) Tj ET Q q 0 0 0 rg BT 114.89 269.60 Td (s reserve estimates are generally based on the entire drill hole database for each reserve, which was used to develop a geologic computer ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 260.00 Td (model using triangulation methods and inverse distance to the second power as an interpolator for NACoal's reserves. ) Tj ET Q q 0 0 0 rg BT 464.23 260.00 Td (As such, all reserves are ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 250.40 Td (considered proven \(measured\)within NACoal) Tj ET Q q 0 0 0 rg BT 236.18 250.40 Td (s reserve estimate. None of NACoal) Tj ET Q q 0 0 0 rg BT 353.92 250.40 Td (s coal reserves have been reviewed by independent experts. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 231.80 Td (\(c\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 231.80 Td (The contracts for these mines require the customer to cover the cost of the ongoing replacement and upkeep of the plant and equipment of the mine.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 213.20 Td (\(d\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 213.20 Td (Although the term of the existing coal sales agreement terminates in 2022, the term may be extended for three additional periods of five years, or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 203.60 Td (until 2037, at the option of Coteau.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 185.00 Td (\(e\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 185.00 Td (The reserves are owned and controlled by the customer and, therefore, have not been listed in the table.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 166.40 Td (\(f\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 166.40 Td (Liberty ceased all mining and delivery of lignite in 2017 and commenced mine reclamation in 2018. ) Tj ET Q q 0 0 0 rg BT 408.65 166.40 Td (The contract term is expected to expire upon ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 156.80 Td (the completion of mine reclamation, currently anticipated to occur by 2028.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 138.20 Td (\(g\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 138.20 Td (Centennial ceased active mining operations at the end of 2015.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 50.00 119.60 Td (\(h\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 119.60 Td (The proven and probable reserves included in the table do not include coal that is leased to others. NACoal had 71.4million tons and 99.1million ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 86.00 110.00 Td (tons in ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 109.56 110.00 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 125.56 110.00 Td ( and ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 141.11 110.00 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 157.11 110.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 199.24 110.00 Td (, of Eastern Undeveloped Mines with leased coal committed under contract.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q /GS0 gs q 512.00 0 0 366.40 68.00 382.64 cm /I20 Do Q BT /F1 10.00 Tf ET endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 144.7314453125 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (Unconsolidated Mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Fr) Tj ET Q q 0 0 0 rg BT 60.37 724.25 Td (eedom Mine ) Tj ET Q q 0 0 0 rg BT 127.67 724.25 Td (The Coteau Pr) Tj ET Q q 0 0 0 rg BT 190.26 724.25 Td (operties Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (The Freedom Mine generally produces between 13.5million and 14.5 million tons of lignite coal annually) Tj ET Q q 0 0 0 rg BT 474.53 706.25 Td (. ) Tj ET Q q 0 0 0 rg BT 479.35 706.25 Td (The mine started ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (delivering coal in 1983. ) Tj ET Q q 0 0 0 rg BT 146.92 694.25 Td (All production from the mine is delivered to Dakota Coal Company) Tj ET Q q 0 0 0 rg BT 417.33 694.25 Td (, a wholly owned subsidiary of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Basin Electric Power Cooperative. Dakota Coal Company then sells the coal to the Great Plains Synfuels Plant, ) Tj ET Q q 0 0 0 rg BT 497.96 682.25 Td (Antelope ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 670.25 Td (alley Station and Leland Olds Station, all of which are operated by af) Tj ET Q q 0 0 0 rg BT 332.79 670.25 Td (filiates of Basin Electric Power Cooperative.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (The Freedom Mine, operated by Coteau, is located approximately 90 miles northwest of Bismarck, North Dakota. ) Tj ET Q q 0 0 0 rg BT 508.04 652.25 Td (The main ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (entrance to the Freedom Mine is accessed by means of a paved road and is located on County Road 15. Coteau holds 292 leases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (granting the right to mine approximately 32,884 acres of coal interests and the right to utilize approximately 22,456 acres of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (surface interests. In addition, Coteau owns in fee 33,365 acres of surface interests and 4,107 acres of coal interests. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (Substantially all of the leases held by Coteau were acquired in the early 1970s and have been replaced with new leases or have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (lease terms for a period suf) Tj ET Q q 0 0 0 rg BT 158.39 592.25 Td (ficient to meet Coteau) Tj ET Q q 0 0 0 rg BT 249.75 592.25 Td (s contractual production requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (The reserves are located in Mercer County) Tj ET Q q 0 0 0 rg BT 219.83 574.25 Td (, North Dakota, starting approximately two miles north of Beulah, North Dakota. ) Tj ET Q q 0 0 0 rg BT 546.25 574.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (center of the basin is located near the city of ) Tj ET Q q 0 0 0 rg BT 229.19 562.25 Td (W) Tj ET Q q 0 0 0 rg BT 238.23 562.25 Td (illiston, North Dakota, approximately 100 miles northwest of the Freedom Mine. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (The economically mineable coal in the reserve occurs in the Sentinel Butte Formation, and is overlain by the Coleharbor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (Formation. ) Tj ET Q q 0 0 0 rg BT 96.48 538.25 Td (The Coleharbor Formation unconformably overlies the Sentinel Butte Formation. It includes all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (unconsolidated sediments resulting from deposition during glacial and inter) Tj ET Q q 0 0 0 rg BT 351.98 526.25 Td (glacial periods. Lithologic types include gravel, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (sand, silt, clay and till. ) Tj ET Q q 0 0 0 rg BT 142.58 514.25 Td (The modified glacial channels are in-filled with gravels, sands, silts and clays overlain by till. ) Tj ET Q q 0 0 0 rg BT 518.96 514.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (coarser gravel and sand beds are generally limited to near the bottom of the channel fill. ) Tj ET Q q 0 0 0 rg BT 403.85 502.25 Td (The general stratigraphic sequence in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (the upland portions of the reserve area consists of till, silty sands and clayey silts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (Falkirk Mine ) Tj ET Q q 0 0 0 rg BT 121.76 466.25 Td (The Falkirk Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (The Falkirk Mine generally produces between 7million and 8million tons of lignite coal annually primarily for the Coal Creek ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (Station, an electric power generating station owned by Great River Ener) Tj ET Q q 0 0 0 rg BT 338.33 436.25 Td (gy) Tj ET Q q 0 0 0 rg BT 347.68 436.25 Td (. ) Tj ET Q q 0 0 0 rg BT 352.50 436.25 Td (The mine started delivering coal in 1978. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (Commencing in the second half of 2014, Falkirk began delivering coal to Spiritwood Station, another electric power generating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (station owned by Great River Ener) Tj ET Q q 0 0 0 rg BT 188.95 412.25 Td (gy) Tj ET Q q 0 0 0 rg BT 198.30 412.25 Td (. ) Tj ET Q q 0 0 0 rg BT 205.24 412.25 Td (Annual deliveries to Spiritwood Station have averaged between 200,000 and 400,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (tons. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (The Falkirk Mine, operated by Falkirk, is located approximately 50 miles north of Bismarck, North Dakota on a paved access ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (road of) Tj ET Q q 0 0 0 rg BT 78.42 370.25 Td (f U.S. Highway 83. Falkirk holds 304 leases granting the right to mine approximately 44,800 acres of coal interests and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (the right to utilize approximately 23,670 acres of surface interests. In addition, Falkirk owns in fee 39,447 acres of surface ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (interests and 1,270 acres of coal interests. Substantially all of the leases held by Falkirk were acquired in the early 1970s with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (initial terms that have been further extended by the continuation of mining operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (The reserves are located in McLean County) Tj ET Q q 0 0 0 rg BT 224.28 316.25 Td (, North Dakota, from approximately nine miles northwest of the town of ) Tj ET Q q 0 0 0 rg BT 515.70 316.25 Td (W) Tj ET Q q 0 0 0 rg BT 524.34 316.25 Td (ashburn, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (North Dakota to four miles north of the town of Underwood, North Dakota. Structurally) Tj ET Q q 0 0 0 rg BT 401.78 304.25 Td (, the area is located on an intercratonic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (basin containing a thick sequence of sedimentary rocks. ) Tj ET Q q 0 0 0 rg BT 275.58 292.25 Td (The economically mineable coals in the reserve occur in the Sentinel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (Butte Formation and the Bullion Creek Formation and are unconformably overlain by the Coleharbor Formation. ) Tj ET Q q 0 0 0 rg BT 504.72 280.25 Td (The Sentinel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (Butte Formation conformably overlies the Bullion Creek Formation. ) Tj ET Q q 0 0 0 rg BT 326.16 268.25 Td (The general stratigraphic sequence in the upland portions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (of the reserve area \(Sentinel Butte Formation\) consists of till, silty sands and clayey silts, main hagel lignite bed, silty clay) Tj ET Q q 0 0 0 rg BT 538.41 256.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (lower lignite of the hagel lignite interval and silty clays. Beneath the ) Tj ET Q q 0 0 0 rg BT 326.13 244.25 Td (T) Tj ET Q q 0 0 0 rg BT 331.54 244.25 Td (avis Creek, there is a repeating sequence of silty to sand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (clays with generally thin lignite beds.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (South Hallsville No. 1 Mine ) Tj ET Q q 0 0 0 rg BT 181.77 208.25 Td (The Sabine Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (The South Hallsville No. 1 Mine generally produces between 3million and 4million tons of lignite coal annually) Tj ET Q q 0 0 0 rg BT 503.43 190.25 Td (. ) Tj ET Q q 0 0 0 rg BT 508.25 190.25 Td (The mine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (started delivering coal in 1985. ) Tj ET Q q 0 0 0 rg BT 176.08 178.25 Td (All production from the mine is delivered to Southwestern Electric Power Company's Henry ) Tj ET Q q 0 0 0 rg BT 548.45 178.25 Td (W) Tj ET Q q 0 0 0 rg BT 556.97 178.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Pirkey Plant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (The South Hallsville No. 1 Mine, operated by Sabine, is located approximately 150 miles east of Dallas, ) Tj ET Q q 0 0 0 rg BT 469.45 148.25 Td (T) Tj ET Q q 0 0 0 rg BT 474.86 148.25 Td (exas on FM 968. ) Tj ET Q q 0 0 0 rg BT 544.40 148.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (entrance to the mine is by means of a paved road. Sabine has no title, claim, lease or option to acquire any of the reserves at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (South Hallsville No. 1 Mine. Southwestern Electric Power Company controls all of the reserves within the South Hallsville ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (No.1 Mine.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (Five Forks Mine Demery Resour) Tj ET Q q 0 0 0 rg BT 202.28 88.25 Td (ces Company) Tj ET Q q 0 0 0 rg BT 258.67 88.25 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (The Five Forks Mine, operated by Demery) Tj ET Q q 0 0 0 rg BT 220.70 70.25 Td (, began delivering coal in 2012 and is located approximately three miles north of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Creston, Louisiana on State Highway 153. ) Tj ET Q q 0 0 0 rg BT 221.65 58.25 Td (Access to the Five Forks Mine is by means of a paved road. Demery has no title, ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (claim, lease or option to acquire any of the reserves at the Five Forks Mine. Demery's customer) Tj ET Q q 0 0 0 rg BT 431.29 742.10 Td (, Five Forks Mining, LLC, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (controls all of the reserves within the Five Forks Mine.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (Marshall Mine Caddo Cr) Tj ET Q q 0 0 0 rg BT 170.93 706.10 Td (eek Resour) Tj ET Q q 0 0 0 rg BT 218.24 706.10 Td (ces Company) Tj ET Q q 0 0 0 rg BT 274.63 706.10 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (The Marshall Mine, operated by Caddo Creek, began delivering coal in 2014 and is located approximately ten miles south of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (Marshall, ) Tj ET Q q 0 0 0 rg BT 90.37 676.10 Td (T) Tj ET Q q 0 0 0 rg BT 95.78 676.10 Td (exas on FM-1) Tj ET Q q 0 0 0 rg BT 150.96 676.10 Td (186. ) Tj ET Q q 0 0 0 rg BT 170.41 676.10 Td (Access to the Marshall Mine is by means of a paved road. Caddo Creek has no title, claim, lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (or option to acquire any of the reserves at the Marshall Mine. Marshall Mine, LLC controls all of the reserves within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (Marshall Mine.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (Eagle Pass Mine Camino Real Fuels, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (The Eagle Pass Mine, operated by Camino Real, began delivering coal in 2015 to Camino Real's customer) Tj ET Q q 0 0 0 rg BT 475.19 604.10 Td (, Dos Republicas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (Coal Partnership. ) Tj ET Q q 0 0 0 rg BT 124.25 592.10 Td (The Eagle Pass Mine produces between 1.5 million and 2.5 million tons of bituminous coal annually) Tj ET Q q 0 0 0 rg BT 526.04 592.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (Eagle Pass Mine is located approximately six miles north of Eagle Pass, ) Tj ET Q q 0 0 0 rg BT 340.60 568.10 Td (T) Tj ET Q q 0 0 0 rg BT 346.01 568.10 Td (exas on State Highway 1588. ) Tj ET Q q 0 0 0 rg BT 464.88 568.10 Td (Access to the Eagle ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (Pass Mine is by means of a paved road. Camino Real has no title, claim, lease or option to acquire any of the reserves at the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (Eagle Pass Mine. Dos Republicas Coal Partnership controls all of the reserves within the Eagle Pass Mine.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (Liberty Mine Liberty Fuels Company) Tj ET Q q 0 0 0 rg BT 223.05 520.10 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (In 2017, Southern Company and its subsidiary) Tj ET Q q 0 0 0 rg BT 235.17 496.10 Td (, Mississippi Power) Tj ET Q q 0 0 0 rg BT 313.39 496.10 Td (, suspended operations involving the coal gasifier portion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (the Kemper County ener) Tj ET Q q 0 0 0 rg BT 148.40 484.10 Td (gy facility) Tj ET Q q 0 0 0 rg BT 188.57 484.10 Td (. Liberty was the sole supplier of coal to fuel the gasifier under its contract with Mississippi ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (Power) Tj ET Q q 0 0 0 rg BT 75.00 472.10 Td (. In the first quarter of 2018, Mississippi Power instructed Liberty to permanently cease all mining and delivery of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (lignite and to commence mine reclamation. ) Tj ET Q q 0 0 0 rg BT 228.09 460.10 Td (The terms of the contract specify that Mississippi Power is responsible for all mine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (closure costs. Under the contract, Liberty is specified as the contractor to complete final mine closure and receives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (compensation for these services.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.10 Td (The Liberty Mine is located approximately 20 miles north of Meridian, Mississippi of) Tj ET Q q 0 0 0 rg BT 393.37 412.10 Td (f State Highway 493. ) Tj ET Q q 0 0 0 rg BT 480.67 412.10 Td (W) Tj ET Q q 0 0 0 rg BT 489.71 412.10 Td (ith the exception ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (of nine leases granting the right to mine 25.9 acres of coal interests and the right to utilize 25.9 acres of surface interests, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (Liberty has no title, claim, lease or option to acquire any of the reserves at the Liberty Mine, which are controlled by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (Mississippi Power) Tj ET Q q 0 0 0 rg BT 123.07 376.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (Coyote Cr) Tj ET Q q 0 0 0 rg BT 93.97 352.10 Td (eek Mine - Coyote Cr) Tj ET Q q 0 0 0 rg BT 185.42 352.10 Td (eek Mining Company) Tj ET Q q 0 0 0 rg BT 277.10 352.10 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (In ) Tj ET Q q 0 0 0 rg BT 61.29 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.47 328.10 Td (second ) Tj ET Q q 0 0 0 rg BT 107.20 328.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 138.48 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 149.78 328.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 175.24 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.42 328.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 222.27 328.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 249.11 328.10 Td (Mine ) Tj ET Q q 0 0 0 rg BT 273.18 328.10 Td (began ) Tj ET Q q 0 0 0 rg BT 300.02 328.10 Td (delivering ) Tj ET Q q 0 0 0 rg BT 343.52 328.10 Td (coal ) Tj ET Q q 0 0 0 rg BT 363.14 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 373.88 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.06 328.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 420.91 328.10 Td (Station ) Tj ET Q q 0 0 0 rg BT 452.21 328.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 481.83 328.10 Td (by ) Tj ET Q q 0 0 0 rg BT 494.80 328.10 Td (Otter ) Tj ET Q q 0 0 0 rg BT 518.09 328.10 Td (T) Tj ET Q q 0 0 0 rg BT 523.50 328.10 Td (ail ) Tj ET Q q 0 0 0 rg BT 536.46 328.10 Td (Power ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 316.10 Td (, ) Tj ET Q q 0 0 0 rg BT 93.52 316.10 Td (Northern ) Tj ET Q q 0 0 0 rg BT 132.40 316.10 Td (Municipal ) Tj ET Q q 0 0 0 rg BT 176.29 316.10 Td (Power ) Tj ET Q q 0 0 0 rg BT 204.01 316.10 Td (Agency) Tj ET Q q 0 0 0 rg BT 234.46 316.10 Td (, ) Tj ET Q q 0 0 0 rg BT 239.74 316.10 Td (Montana-Dakota ) Tj ET Q q 0 0 0 rg BT 310.27 316.10 Td (Utilities ) Tj ET Q q 0 0 0 rg BT 345.28 316.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 386.95 316.10 Td (and ) Tj ET Q q 0 0 0 rg BT 404.17 316.10 Td (Northwestern ) Tj ET Q q 0 0 0 rg BT 461.38 316.10 Td (Corporation. ) Tj ET Q q 0 0 0 rg BT 514.78 316.10 Td (The ) Tj ET Q q 0 0 0 rg BT 533.11 316.10 Td (Coyote ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 77.11 304.10 Td (Mine ) Tj ET Q q 0 0 0 rg BT 101.45 304.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 141.89 304.10 Td (produces ) Tj ET Q q 0 0 0 rg BT 181.22 304.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 242.21 304.10 Td (1.8 ) Tj ET Q q 0 0 0 rg BT 257.95 304.10 Td (million ) Tj ET Q q 0 0 0 rg BT 290.07 304.10 Td (to ) Tj ET Q q 0 0 0 rg BT 301.09 304.10 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 316.82 304.10 Td (million ) Tj ET Q q 0 0 0 rg BT 348.95 304.10 Td (tons ) Tj ET Q q 0 0 0 rg BT 368.85 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.41 304.10 Td (lignite ) Tj ET Q q 0 0 0 rg BT 409.20 304.10 Td (coal ) Tj ET Q q 0 0 0 rg BT 429.09 304.10 Td (annually ) Tj ET Q q 0 0 0 rg BT 466.76 304.10 Td (when ) Tj ET Q q 0 0 0 rg BT 491.65 304.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 523.77 304.10 Td (Station ) Tj ET Q q 0 0 0 rg BT 555.34 304.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 90.26 292.10 Td (at ) Tj ET Q q 0 0 0 rg BT 99.98 292.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 146.35 292.10 Td (levels. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.35 268.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 98.05 268.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 123.73 268.10 Td (Mine ) Tj ET Q q 0 0 0 rg BT 146.65 268.10 Td (is ) Tj ET Q q 0 0 0 rg BT 155.13 268.10 Td (located ) Tj ET Q q 0 0 0 rg BT 185.81 268.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 245.38 268.10 Td (70 ) Tj ET Q q 0 0 0 rg BT 257.18 268.10 Td (miles ) Tj ET Q q 0 0 0 rg BT 280.66 268.10 Td (northwest ) Tj ET Q q 0 0 0 rg BT 321.90 268.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.04 268.10 Td (Bismarck, ) Tj ET Q q 0 0 0 rg BT 374.68 268.10 Td (North ) Tj ET Q q 0 0 0 rg BT 399.81 268.10 Td (Dakota. ) Tj ET Q q 0 0 0 rg BT 433.00 268.10 Td ( ) Tj ET Q q 0 0 0 rg BT 434.68 268.10 Td (The ) Tj ET Q q 0 0 0 rg BT 452.03 268.10 Td (main ) Tj ET Q q 0 0 0 rg BT 473.83 268.10 Td (entrance ) Tj ET Q q 0 0 0 rg BT 509.50 268.10 Td (to ) Tj ET Q q 0 0 0 rg BT 519.09 268.10 Td (the ) Tj ET Q q 0 0 0 rg BT 533.12 268.10 Td (Coyote ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 77.16 256.10 Td (Mine ) Tj ET Q q 0 0 0 rg BT 101.55 256.10 Td (is ) Tj ET Q q 0 0 0 rg BT 111.51 256.10 Td (accessed ) Tj ET Q q 0 0 0 rg BT 149.77 256.10 Td (by ) Tj ET Q q 0 0 0 rg BT 163.05 256.10 Td (means ) Tj ET Q q 0 0 0 rg BT 191.88 256.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.49 256.10 Td (a ) Tj ET Q q 0 0 0 rg BT 211.22 256.10 Td (four) Tj ET Q q 0 0 0 rg BT 227.68 256.10 Td (-mile ) Tj ET Q q 0 0 0 rg BT 252.06 256.10 Td (paved ) Tj ET Q q 0 0 0 rg BT 279.22 256.10 Td (road ) Tj ET Q q 0 0 0 rg BT 300.28 256.10 Td (extending ) Tj ET Q q 0 0 0 rg BT 342.99 256.10 Td (west ) Tj ET Q q 0 0 0 rg BT 364.61 256.10 Td (of) Tj ET Q q 0 0 0 rg BT 372.76 256.10 Td (f ) Tj ET Q q 0 0 0 rg BT 379.37 256.10 Td (of ) Tj ET Q q 0 0 0 rg BT 390.98 256.10 Td (State ) Tj ET Q q 0 0 0 rg BT 414.26 256.10 Td (Highway ) Tj ET Q q 0 0 0 rg BT 454.21 256.10 Td (49. ) Tj ET Q q 0 0 0 rg BT 469.99 256.10 Td ( ) Tj ET Q q 0 0 0 rg BT 473.27 256.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 505.44 256.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 532.60 256.10 Td (holds ) Tj ET Q q 0 0 0 rg BT 557.56 256.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (sublease ) Tj ET Q q 0 0 0 rg BT 86.33 244.10 Td (to ) Tj ET Q q 0 0 0 rg BT 96.57 244.10 Td (85 ) Tj ET Q q 0 0 0 rg BT 109.02 244.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 135.35 244.10 Td (granting ) Tj ET Q q 0 0 0 rg BT 171.13 244.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.80 244.10 Td (right ) Tj ET Q q 0 0 0 rg BT 207.15 244.10 Td (to ) Tj ET Q q 0 0 0 rg BT 217.38 244.10 Td (mine ) Tj ET Q q 0 0 0 rg BT 239.83 244.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 300.04 244.10 Td (7,809 ) Tj ET Q q 0 0 0 rg BT 325.00 244.10 Td (acres ) Tj ET Q q 0 0 0 rg BT 347.99 244.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.78 244.10 Td (coal ) Tj ET Q q 0 0 0 rg BT 377.89 244.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 413.67 244.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.56 244.10 Td (the ) Tj ET Q q 0 0 0 rg BT 445.23 244.10 Td (right ) Tj ET Q q 0 0 0 rg BT 466.57 244.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.81 244.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 504.25 244.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (15,168 ) Tj ET Q q 0 0 0 rg BT 79.44 232.10 Td (acres ) Tj ET Q q 0 0 0 rg BT 101.92 232.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.19 232.10 Td (surface ) Tj ET Q q 0 0 0 rg BT 143.00 232.10 Td (interests. ) Tj ET Q q 0 0 0 rg BT 180.77 232.10 Td (In ) Tj ET Q q 0 0 0 rg BT 191.04 232.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 228.26 232.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 259.09 232.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 284.91 232.10 Td (Mine ) Tj ET Q q 0 0 0 rg BT 307.96 232.10 Td (owns ) Tj ET Q q 0 0 0 rg BT 331.01 232.10 Td (in ) Tj ET Q q 0 0 0 rg BT 340.74 232.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 354.88 232.10 Td (160 ) Tj ET Q q 0 0 0 rg BT 371.83 232.10 Td (acres ) Tj ET Q q 0 0 0 rg BT 394.31 232.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.58 232.10 Td (surface ) Tj ET Q q 0 0 0 rg BT 435.39 232.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 470.66 232.10 Td (and ) Tj ET Q q 0 0 0 rg BT 487.04 232.10 Td (has ) Tj ET Q q 0 0 0 rg BT 502.31 232.10 Td (four ) Tj ET Q q 0 0 0 rg BT 520.91 232.10 Td (easements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 220.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 94.43 220.10 Td (coal ) Tj ET Q q 0 0 0 rg BT 113.59 220.10 Td (mining ) Tj ET Q q 0 0 0 rg BT 144.42 220.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 188.58 220.10 Td (on ) Tj ET Q q 0 0 0 rg BT 201.08 220.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 261.34 220.10 Td (352 ) Tj ET Q q 0 0 0 rg BT 278.84 220.10 Td (acres. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.19 196.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 103.60 196.10 Td (are ) Tj ET Q q 0 0 0 rg BT 118.46 196.10 Td (located ) Tj ET Q q 0 0 0 rg BT 149.98 196.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.40 196.10 Td (Mercer ) Tj ET Q q 0 0 0 rg BT 191.92 196.10 Td (County) Tj ET Q q 0 0 0 rg BT 220.72 196.10 Td (, ) Tj ET Q q 0 0 0 rg BT 225.86 196.10 Td (North ) Tj ET Q q 0 0 0 rg BT 251.84 196.10 Td (Dakota, ) Tj ET Q q 0 0 0 rg BT 285.87 196.10 Td (starting ) Tj ET Q q 0 0 0 rg BT 318.51 196.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 378.92 196.10 Td (six ) Tj ET Q q 0 0 0 rg BT 393.24 196.10 Td (miles ) Tj ET Q q 0 0 0 rg BT 417.55 196.10 Td (southwest ) Tj ET Q q 0 0 0 rg BT 460.20 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.17 196.10 Td (Beulah, ) Tj ET Q q 0 0 0 rg BT 504.65 196.10 Td (North ) Tj ET Q q 0 0 0 rg BT 530.63 196.10 Td (Dakota. ) Tj ET Q q 0 0 0 rg BT 564.50 196.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.52 184.10 Td (center ) Tj ET Q q 0 0 0 rg BT 93.91 184.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.22 184.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.40 184.10 Td (basin ) Tj ET Q q 0 0 0 rg BT 141.48 184.10 Td (is ) Tj ET Q q 0 0 0 rg BT 150.13 184.10 Td (located ) Tj ET Q q 0 0 0 rg BT 180.97 184.10 Td (near ) Tj ET Q q 0 0 0 rg BT 200.15 184.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.34 184.10 Td (city ) Tj ET Q q 0 0 0 rg BT 231.30 184.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.46 184.10 Td (W) Tj ET Q q 0 0 0 rg BT 250.50 184.10 Td (illiston, ) Tj ET Q q 0 0 0 rg BT 282.76 184.10 Td (North ) Tj ET Q q 0 0 0 rg BT 308.06 184.10 Td (Dakota, ) Tj ET Q q 0 0 0 rg BT 341.41 184.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 401.14 184.10 Td (1) Tj ET Q q 0 0 0 rg BT 405.77 184.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 417.74 184.10 Td (miles ) Tj ET Q q 0 0 0 rg BT 441.37 184.10 Td (northwest ) Tj ET Q q 0 0 0 rg BT 482.78 184.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.09 184.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.27 184.10 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 538.13 184.10 Td (Creek ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td (Mine. ) Tj ET Q q 0 0 0 rg BT 76.17 172.10 Td ( ) Tj ET Q q 0 0 0 rg BT 78.55 172.10 Td (The ) Tj ET Q q 0 0 0 rg BT 96.65 172.10 Td (economically ) Tj ET Q q 0 0 0 rg BT 153.08 172.10 Td (mineable ) Tj ET Q q 0 0 0 rg BT 192.29 172.10 Td (coal ) Tj ET Q q 0 0 0 rg BT 211.51 172.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.85 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.63 172.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 268.05 172.10 Td (occurs ) Tj ET Q q 0 0 0 rg BT 296.71 172.10 Td (in ) Tj ET Q q 0 0 0 rg BT 307.05 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.83 172.10 Td (Sentinel ) Tj ET Q q 0 0 0 rg BT 357.17 172.10 Td (Butte ) Tj ET Q q 0 0 0 rg BT 381.39 172.10 Td (Formation, ) Tj ET Q q 0 0 0 rg BT 428.12 172.10 Td (and ) Tj ET Q q 0 0 0 rg BT 445.12 172.10 Td (is ) Tj ET Q q 0 0 0 rg BT 454.35 172.10 Td (overlain ) Tj ET Q q 0 0 0 rg BT 489.67 172.10 Td (by ) Tj ET Q q 0 0 0 rg BT 502.23 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.01 172.10 Td (Coleharbor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (Formation. ) Tj ET Q q 0 0 0 rg BT 96.03 160.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.76 160.10 Td (The ) Tj ET Q q 0 0 0 rg BT 115.17 160.10 Td (Coleharbor ) Tj ET Q q 0 0 0 rg BT 162.02 160.10 Td (Formation ) Tj ET Q q 0 0 0 rg BT 205.55 160.10 Td (unconformably ) Tj ET Q q 0 0 0 rg BT 268.51 160.10 Td (overlies ) Tj ET Q q 0 0 0 rg BT 302.03 160.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.11 160.10 Td (Sentinel ) Tj ET Q q 0 0 0 rg BT 350.75 160.10 Td (Butte ) Tj ET Q q 0 0 0 rg BT 374.27 160.10 Td (Formation. ) Tj ET Q q 0 0 0 rg BT 420.30 160.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.17 160.10 Td (It ) Tj ET Q q 0 0 0 rg BT 430.14 160.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 465.33 160.10 Td (all ) Tj ET Q q 0 0 0 rg BT 477.19 160.10 Td (of ) Tj ET Q q 0 0 0 rg BT 487.38 160.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.46 160.10 Td (unconsolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (sediments ) Tj ET Q q 0 0 0 rg BT 92.03 148.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 129.05 148.10 Td (from ) Tj ET Q q 0 0 0 rg BT 150.52 148.10 Td (deposition ) Tj ET Q q 0 0 0 rg BT 194.22 148.10 Td (during ) Tj ET Q q 0 0 0 rg BT 222.36 148.10 Td (glacial ) Tj ET Q q 0 0 0 rg BT 251.04 148.10 Td (and ) Tj ET Q q 0 0 0 rg BT 267.51 148.10 Td (inter) Tj ET Q q 0 0 0 rg BT 285.65 148.10 Td (glacial ) Tj ET Q q 0 0 0 rg BT 314.34 148.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 348.31 148.10 Td (Lithologic ) Tj ET Q q 0 0 0 rg BT 392.00 148.10 Td (types ) Tj ET Q q 0 0 0 rg BT 415.14 148.10 Td (include ) Tj ET Q q 0 0 0 rg BT 446.60 148.10 Td (gravel, ) Tj ET Q q 0 0 0 rg BT 476.12 148.10 Td (sand ) Tj ET Q q 0 0 0 rg BT 496.48 148.10 Td (silt, ) Tj ET Q q 0 0 0 rg BT 513.24 148.10 Td (clay ) Tj ET Q q 0 0 0 rg BT 531.92 148.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.39 148.10 Td (till. ) Tj ET Q q 0 0 0 rg BT 564.51 148.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.18 136.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 106.91 136.10 Td (glacial ) Tj ET Q q 0 0 0 rg BT 136.20 136.10 Td (channels ) Tj ET Q q 0 0 0 rg BT 173.81 136.10 Td (are ) Tj ET Q q 0 0 0 rg BT 188.65 136.10 Td (in-filled ) Tj ET Q q 0 0 0 rg BT 223.50 136.10 Td (with ) Tj ET Q q 0 0 0 rg BT 243.91 136.10 Td (gravels, ) Tj ET Q q 0 0 0 rg BT 277.92 136.10 Td (sands, ) Tj ET Q q 0 0 0 rg BT 305.27 136.10 Td (silts ) Tj ET Q q 0 0 0 rg BT 324.02 136.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.09 136.10 Td (clays ) Tj ET Q q 0 0 0 rg BT 364.27 136.10 Td (overlain ) Tj ET Q q 0 0 0 rg BT 399.66 136.10 Td (by ) Tj ET Q q 0 0 0 rg BT 412.29 136.10 Td (till. ) Tj ET Q q 0 0 0 rg BT 428.35 136.10 Td (The ) Tj ET Q q 0 0 0 rg BT 446.53 136.10 Td (coarser ) Tj ET Q q 0 0 0 rg BT 478.03 136.10 Td (gravel ) Tj ET Q q 0 0 0 rg BT 505.64 136.10 Td (and ) Tj ET Q q 0 0 0 rg BT 522.71 136.10 Td (sand ) Tj ET Q q 0 0 0 rg BT 543.68 136.10 Td (beds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.21 124.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 103.42 124.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 133.75 124.10 Td (to ) Tj ET Q q 0 0 0 rg BT 143.53 124.10 Td (near ) Tj ET Q q 0 0 0 rg BT 162.74 124.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.96 124.10 Td (bottom ) Tj ET Q q 0 0 0 rg BT 207.30 124.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.63 124.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.85 124.10 Td (channel ) Tj ET Q q 0 0 0 rg BT 264.95 124.10 Td (fill. ) Tj ET Q q 0 0 0 rg BT 280.97 124.10 Td (The ) Tj ET Q q 0 0 0 rg BT 298.52 124.10 Td (general ) Tj ET Q q 0 0 0 rg BT 329.95 124.10 Td (stratigraphic ) Tj ET Q q 0 0 0 rg BT 381.94 124.10 Td (sequence ) Tj ET Q q 0 0 0 rg BT 420.58 124.10 Td (in ) Tj ET Q q 0 0 0 rg BT 430.37 124.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.59 124.10 Td (upland ) Tj ET Q q 0 0 0 rg BT 473.81 124.10 Td (portions ) Tj ET Q q 0 0 0 rg BT 508.59 124.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.92 124.10 Td (the ) Tj ET Q q 0 0 0 rg BT 533.14 124.10 Td (reserve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (area ) Tj ET Q q 0 0 0 rg BT 69.15 112.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 103.32 112.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.15 112.10 Td (till, ) Tj ET Q q 0 0 0 rg BT 130.26 112.10 Td (silty ) Tj ET Q q 0 0 0 rg BT 149.99 112.10 Td (sands ) Tj ET Q q 0 0 0 rg BT 174.71 112.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.65 112.10 Td (clayey ) Tj ET Q q 0 0 0 rg BT 220.24 112.10 Td (silts.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Navajo Mine - Bisti Fuels Company) Tj ET Q q 0 0 0 rg BT 201.95 742.25 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (In ) Tj ET Q q 0 0 0 rg BT 61.91 718.25 Td (January ) Tj ET Q q 0 0 0 rg BT 96.60 718.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 122.68 718.25 Td (Bisti ) Tj ET Q q 0 0 0 rg BT 145.16 718.25 Td (became ) Tj ET Q q 0 0 0 rg BT 179.28 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.08 718.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 230.86 718.25 Td (miner ) Tj ET Q q 0 0 0 rg BT 257.77 718.25 Td (at ) Tj ET Q q 0 0 0 rg BT 268.57 718.25 Td (NTEC's ) Tj ET Q q 0 0 0 rg BT 303.96 718.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 339.21 718.25 Td (mine ) Tj ET Q q 0 0 0 rg BT 362.79 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 380.81 718.25 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 427.15 718.25 Td (making ) Tj ET Q q 0 0 0 rg BT 460.73 718.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 490.97 718.25 Td (coal ) Tj ET Q q 0 0 0 rg BT 511.21 718.25 Td (deliveries ) Tj ET Q q 0 0 0 rg BT 553.67 718.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 109.61 706.25 Td (5.0 ) Tj ET Q q 0 0 0 rg BT 123.95 706.25 Td (million ) Tj ET Q q 0 0 0 rg BT 154.69 706.25 Td (tons ) Tj ET Q q 0 0 0 rg BT 173.21 706.25 Td (when ) Tj ET Q q 0 0 0 rg BT 196.72 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 210.78 706.25 Td (Four ) Tj ET Q q 0 0 0 rg BT 231.52 706.25 Td (Corners ) Tj ET Q q 0 0 0 rg BT 265.03 706.25 Td (Power ) Tj ET Q q 0 0 0 rg BT 292.43 706.25 Td (Plant ) Tj ET Q q 0 0 0 rg BT 314.83 706.25 Td (is ) Tj ET Q q 0 0 0 rg BT 323.35 706.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 362.96 706.25 Td (at ) Tj ET Q q 0 0 0 rg BT 372.02 706.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 417.74 706.25 Td (levels, ) Tj ET Q q 0 0 0 rg BT 445.41 706.25 Td (which ) Tj ET Q q 0 0 0 rg BT 471.69 706.25 Td (is ) Tj ET Q q 0 0 0 rg BT 480.21 706.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 518.15 706.25 Td (anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 694.25 Td (occur ) Tj ET Q q 0 0 0 rg BT 84.99 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 95.26 694.25 Td (2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.59 670.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 98.51 670.25 Td (Mine, ) Tj ET Q q 0 0 0 rg BT 124.16 670.25 Td (operated ) Tj ET Q q 0 0 0 rg BT 160.63 670.25 Td (by ) Tj ET Q q 0 0 0 rg BT 172.67 670.25 Td (Bisti, ) Tj ET Q q 0 0 0 rg BT 196.11 670.25 Td (is ) Tj ET Q q 0 0 0 rg BT 204.82 670.25 Td (located ) Tj ET Q q 0 0 0 rg BT 235.73 670.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 295.54 670.25 Td (25 ) Tj ET Q q 0 0 0 rg BT 307.58 670.25 Td (miles ) Tj ET Q q 0 0 0 rg BT 331.29 670.25 Td (southwest ) Tj ET Q q 0 0 0 rg BT 373.33 670.25 Td (of ) Tj ET Q q 0 0 0 rg BT 383.70 670.25 Td (Farmington, ) Tj ET Q q 0 0 0 rg BT 434.91 670.25 Td (New ) Tj ET Q q 0 0 0 rg BT 455.83 670.25 Td (Mexico, ) Tj ET Q q 0 0 0 rg BT 490.92 670.25 Td (of) Tj ET Q q 0 0 0 rg BT 499.07 670.25 Td (f ) Tj ET Q q 0 0 0 rg BT 504.44 670.25 Td (Indian ) Tj ET Q q 0 0 0 rg BT 532.03 670.25 Td (Service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Road ) Tj ET Q q 0 0 0 rg BT 73.69 658.25 Td (3005, ) Tj ET Q q 0 0 0 rg BT 98.78 658.25 Td (and ) Tj ET Q q 0 0 0 rg BT 115.80 658.25 Td (is ) Tj ET Q q 0 0 0 rg BT 125.06 658.25 Td (on ) Tj ET Q q 0 0 0 rg BT 137.64 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 152.45 658.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 183.91 658.25 Td (Nation. ) Tj ET Q q 0 0 0 rg BT 215.64 658.25 Td (Access ) Tj ET Q q 0 0 0 rg BT 246.55 658.25 Td (to ) Tj ET Q q 0 0 0 rg BT 256.91 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 271.71 658.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 303.17 658.25 Td (Mine ) Tj ET Q q 0 0 0 rg BT 326.87 658.25 Td (is ) Tj ET Q q 0 0 0 rg BT 336.12 658.25 Td (by ) Tj ET Q q 0 0 0 rg BT 348.71 658.25 Td (means ) Tj ET Q q 0 0 0 rg BT 376.84 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 387.76 658.25 Td (a ) Tj ET Q q 0 0 0 rg BT 394.78 658.25 Td (paved ) Tj ET Q q 0 0 0 rg BT 421.24 658.25 Td (road. ) Tj ET Q q 0 0 0 rg BT 444.10 658.25 Td (Bisti ) Tj ET Q q 0 0 0 rg BT 465.58 658.25 Td (has ) Tj ET Q q 0 0 0 rg BT 481.49 658.25 Td (no ) Tj ET Q q 0 0 0 rg BT 494.08 658.25 Td (title, ) Tj ET Q q 0 0 0 rg BT 514.72 658.25 Td (claim, ) Tj ET Q q 0 0 0 rg BT 542.01 658.25 Td (lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.54 646.25 Td (option ) Tj ET Q q 0 0 0 rg BT 88.31 646.25 Td (to ) Tj ET Q q 0 0 0 rg BT 98.31 646.25 Td (acquire ) Tj ET Q q 0 0 0 rg BT 129.94 646.25 Td (any ) Tj ET Q q 0 0 0 rg BT 146.59 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 157.14 646.25 Td (the ) Tj ET Q q 0 0 0 rg BT 171.57 646.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 206.54 646.25 Td (at ) Tj ET Q q 0 0 0 rg BT 215.97 646.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 247.06 646.25 Td (Mine. ) Tj ET Q q 0 0 0 rg BT 272.88 646.25 Td (NTEC, ) Tj ET Q q 0 0 0 rg BT 303.70 646.25 Td (a ) Tj ET Q q 0 0 0 rg BT 310.36 646.25 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 370.34 646.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 400.88 646.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 434.20 646.25 Td (company ) Tj ET Q q 0 0 0 rg BT 473.07 646.25 Td (of ) Tj ET Q q 0 0 0 rg BT 483.46 646.25 Td (The ) Tj ET Q q 0 0 0 rg BT 501.22 646.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 532.31 646.25 Td (Nation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 84.72 634.25 Td (all ) Tj ET Q q 0 0 0 rg BT 97.21 634.25 Td (of ) Tj ET Q q 0 0 0 rg BT 108.04 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 122.76 634.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 158.02 634.25 Td (within ) Tj ET Q q 0 0 0 rg BT 186.07 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 200.79 634.25 Td (Navajo ) Tj ET Q q 0 0 0 rg BT 232.17 634.25 Td (Mine.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 608.68505859375 m 134.7314453125 608.68505859375 l s q 0 0 0 rg BT 50.00 610.25 Td (Consolidated Mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Red Hills Mine Mississippi Lignite Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (The Red Hills Mine generally produces between 2 million and 3million tons of lignite coal annually) Tj ET Q q 0 0 0 rg BT 452.04 568.25 Td (. ) Tj ET Q q 0 0 0 rg BT 456.86 568.25 Td (The Red Hills Mine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (started delivering coal in 2000. ) Tj ET Q q 0 0 0 rg BT 178.58 556.25 Td (All production from the mine is delivered to its customer's Red Hills Power Plant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (The Red Hills Mine, operated by MLMC, is located approximately 120 miles northeast of Jackson, Mississippi. ) Tj ET Q q 0 0 0 rg BT 499.20 538.25 Td (The entrance to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (the mine is by means of a paved road located approximately one mile west of Highway 9. MLMC owns in fee approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (6,448 acres of surface interest and 3,908 acres of coal interests. MLMC holds leases granting the right to mine approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (6,445 acres of coal interests and the right to utilize approximately 5,868 acres of surface interests. MLMC holds subleases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (under which it has the right to mine approximately 1,054 acres of coal interests. ) Tj ET Q q 0 0 0 rg BT 373.90 490.25 Td (The majority of the leases held by MLMC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (were originally acquired during the mid-1970s to the early 1980s with terms extending 50years, many of which can be further ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (extended by the continuation of mining operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.17 445.25 Td (lignite ) Tj ET Q q 0 0 0 rg BT 96.35 445.25 Td (deposits ) Tj ET Q q 0 0 0 rg BT 131.75 445.25 Td (of ) Tj ET Q q 0 0 0 rg BT 142.70 445.25 Td (the ) Tj ET Q q 0 0 0 rg BT 157.54 445.25 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 178.50 445.25 Td (Coast ) Tj ET Q q 0 0 0 rg BT 203.90 445.25 Td (are ) Tj ET Q q 0 0 0 rg BT 218.73 445.25 Td (found ) Tj ET Q q 0 0 0 rg BT 244.68 445.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 284.52 445.25 Td (in ) Tj ET Q q 0 0 0 rg BT 294.92 445.25 Td (a ) Tj ET Q q 0 0 0 rg BT 301.98 445.25 Td (narrow ) Tj ET Q q 0 0 0 rg BT 332.92 445.25 Td (band ) Tj ET Q q 0 0 0 rg BT 354.99 445.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.94 445.25 Td (strata ) Tj ET Q q 0 0 0 rg BT 390.22 445.25 Td (that ) Tj ET Q q 0 0 0 rg BT 407.84 445.25 Td (outcrops/subcrops ) Tj ET Q q 0 0 0 rg BT 483.23 445.25 Td (along ) Tj ET Q q 0 0 0 rg BT 508.07 445.25 Td (the ) Tj ET Q q 0 0 0 rg BT 522.91 445.25 Td (mar) Tj ET Q q 0 0 0 rg BT 538.28 445.25 Td (gin ) Tj ET Q q 0 0 0 rg BT 553.68 445.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.25 Td (the ) Tj ET Q q 0 0 0 rg BT 66.07 433.25 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 115.50 433.25 Td (Embayment. ) Tj ET Q q 0 0 0 rg BT 169.89 433.25 Td (The ) Tj ET Q q 0 0 0 rg BT 189.29 433.25 Td (potentially ) Tj ET Q q 0 0 0 rg BT 235.91 433.25 Td (exploitable ) Tj ET Q q 0 0 0 rg BT 284.19 433.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 316.92 433.25 Td (lignites ) Tj ET Q q 0 0 0 rg BT 350.22 433.25 Td (in ) Tj ET Q q 0 0 0 rg BT 361.85 433.25 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 411.27 433.25 Td (are ) Tj ET Q q 0 0 0 rg BT 427.33 433.25 Td (found ) Tj ET Q q 0 0 0 rg BT 454.52 433.25 Td (in ) Tj ET Q q 0 0 0 rg BT 466.15 433.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.94 433.25 Td (W) Tj ET Q q 0 0 0 rg BT 490.98 433.25 Td (ilcox ) Tj ET Q q 0 0 0 rg BT 514.83 433.25 Td (Group. ) Tj ET Q q 0 0 0 rg BT 546.45 433.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.25 Td (outcropping ) Tj ET Q q 0 0 0 rg BT 100.64 421.25 Td (W) Tj ET Q q 0 0 0 rg BT 109.68 421.25 Td (ilcox ) Tj ET Q q 0 0 0 rg BT 132.18 421.25 Td (is ) Tj ET Q q 0 0 0 rg BT 141.35 421.25 Td (composed ) Tj ET Q q 0 0 0 rg BT 184.39 421.25 Td (predominately ) Tj ET Q q 0 0 0 rg BT 244.65 421.25 Td (of ) Tj ET Q q 0 0 0 rg BT 255.48 421.25 Td (non-marine ) Tj ET Q q 0 0 0 rg BT 304.08 421.25 Td (sediments ) Tj ET Q q 0 0 0 rg BT 346.57 421.25 Td (deposited ) Tj ET Q q 0 0 0 rg BT 387.40 421.25 Td (on ) Tj ET Q q 0 0 0 rg BT 399.90 421.25 Td (a ) Tj ET Q q 0 0 0 rg BT 406.84 421.25 Td (broad ) Tj ET Q q 0 0 0 rg BT 432.10 421.25 Td (flat ) Tj ET Q q 0 0 0 rg BT 447.93 421.25 Td (plain.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (Centennial ) Tj ET Q q 0 0 0 rg BT 99.17 400.25 Td (Natural ) Tj ET Q q 0 0 0 rg BT 135.00 400.25 Td (Resour) Tj ET Q q 0 0 0 rg BT 165.37 400.25 Td (ces ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.25 Td (Centennial ) Tj ET Q q 0 0 0 rg BT 96.15 379.25 Td (ceased ) Tj ET Q q 0 0 0 rg BT 125.63 379.25 Td (active ) Tj ET Q q 0 0 0 rg BT 152.33 379.25 Td (mining ) Tj ET Q q 0 0 0 rg BT 183.49 379.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 227.98 379.25 Td (at ) Tj ET Q q 0 0 0 rg BT 238.02 379.25 Td (the ) Tj ET Q q 0 0 0 rg BT 253.07 379.25 Td (end ) Tj ET Q q 0 0 0 rg BT 270.34 379.25 Td (of ) Tj ET Q q 0 0 0 rg BT 281.50 379.25 Td (2015. ) Tj ET Q q 0 0 0 rg BT 306.83 379.25 Td (Centennial ) Tj ET Q q 0 0 0 rg BT 352.98 379.25 Td (and ) Tj ET Q q 0 0 0 rg BT 370.24 379.25 Td (its ) Tj ET Q q 0 0 0 rg BT 382.52 379.25 Td (af) Tj ET Q q 0 0 0 rg BT 390.11 379.25 Td (filiate, ) Tj ET Q q 0 0 0 rg BT 418.76 379.25 Td (NACRC, ) Tj ET Q q 0 0 0 rg BT 458.54 379.25 Td (own ) Tj ET Q q 0 0 0 rg BT 478.59 379.25 Td (in ) Tj ET Q q 0 0 0 rg BT 489.20 379.25 Td (fee ) Tj ET Q q 0 0 0 rg BT 504.24 379.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.25 Td (5,648 ) Tj ET Q q 0 0 0 rg BT 75.11 367.25 Td (acres ) Tj ET Q q 0 0 0 rg BT 98.25 367.25 Td (of ) Tj ET Q q 0 0 0 rg BT 109.19 367.25 Td (coal ) Tj ET Q q 0 0 0 rg BT 128.45 367.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 164.38 367.25 Td (and ) Tj ET Q q 0 0 0 rg BT 181.43 367.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 241.80 367.25 Td (2,331 ) Tj ET Q q 0 0 0 rg BT 266.90 367.25 Td (acres ) Tj ET Q q 0 0 0 rg BT 290.05 367.25 Td (of ) Tj ET Q q 0 0 0 rg BT 300.99 367.25 Td (surface ) Tj ET Q q 0 0 0 rg BT 332.46 367.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 368.39 367.25 Td (in ) Tj ET Q q 0 0 0 rg BT 378.20 367.25 Td (Alabama. ) Tj ET Q q 0 0 0 rg BT 419.40 367.25 Td (Centennial ) Tj ET Q q 0 0 0 rg BT 465.33 367.25 Td (holds ) Tj ET Q q 0 0 0 rg BT 489.61 367.25 Td (leases ) Tj ET Q q 0 0 0 rg BT 516.09 367.25 Td (in ) Tj ET Q q 0 0 0 rg BT 525.90 367.25 Td (Alabama ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.25 Td (granting ) Tj ET Q q 0 0 0 rg BT 85.54 355.25 Td (the ) Tj ET Q q 0 0 0 rg BT 99.98 355.25 Td (right ) Tj ET Q q 0 0 0 rg BT 121.09 355.25 Td (to ) Tj ET Q q 0 0 0 rg BT 131.08 355.25 Td (mine ) Tj ET Q q 0 0 0 rg BT 153.30 355.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 213.28 355.25 Td (7,874 ) Tj ET Q q 0 0 0 rg BT 238.00 355.25 Td (acres ) Tj ET Q q 0 0 0 rg BT 260.75 355.25 Td (of ) Tj ET Q q 0 0 0 rg BT 271.30 355.25 Td (coal ) Tj ET Q q 0 0 0 rg BT 290.18 355.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 325.72 355.25 Td (and ) Tj ET Q q 0 0 0 rg BT 342.38 355.25 Td (the ) Tj ET Q q 0 0 0 rg BT 356.81 355.25 Td (right ) Tj ET Q q 0 0 0 rg BT 377.92 355.25 Td (to ) Tj ET Q q 0 0 0 rg BT 387.92 355.25 Td (utilize ) Tj ET Q q 0 0 0 rg BT 415.13 355.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 475.10 355.25 Td (9,479 ) Tj ET Q q 0 0 0 rg BT 499.82 355.25 Td (acres ) Tj ET Q q 0 0 0 rg BT 522.58 355.25 Td (of ) Tj ET Q q 0 0 0 rg BT 533.13 355.25 Td (surface ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.25 Td (interests. ) Tj ET Q q 0 0 0 rg BT 88.29 343.25 Td (The ) Tj ET Q q 0 0 0 rg BT 106.50 343.25 Td (majority ) Tj ET Q q 0 0 0 rg BT 143.04 343.25 Td (of ) Tj ET Q q 0 0 0 rg BT 154.03 343.25 Td (the ) Tj ET Q q 0 0 0 rg BT 168.91 343.25 Td (leases ) Tj ET Q q 0 0 0 rg BT 195.45 343.25 Td (held ) Tj ET Q q 0 0 0 rg BT 215.32 343.25 Td (by ) Tj ET Q q 0 0 0 rg BT 227.98 343.25 Td (Centennial ) Tj ET Q q 0 0 0 rg BT 273.96 343.25 Td (were ) Tj ET Q q 0 0 0 rg BT 296.05 343.25 Td (originally ) Tj ET Q q 0 0 0 rg BT 337.59 343.25 Td (acquired ) Tj ET Q q 0 0 0 rg BT 374.68 343.25 Td (between ) Tj ET Q q 0 0 0 rg BT 410.65 343.25 Td (2000 ) Tj ET Q q 0 0 0 rg BT 433.31 343.25 Td (and ) Tj ET Q q 0 0 0 rg BT 450.41 343.25 Td (2012 ) Tj ET Q q 0 0 0 rg BT 473.07 343.25 Td (with ) Tj ET Q q 0 0 0 rg BT 493.51 343.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 518.39 343.25 Td (that ) Tj ET Q q 0 0 0 rg BT 536.04 343.25 Td (can ) Tj ET Q q 0 0 0 rg BT 552.58 343.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (extended ) Tj ET Q q 0 0 0 rg BT 88.59 331.25 Td (by ) Tj ET Q q 0 0 0 rg BT 101.09 331.25 Td (the ) Tj ET Q q 0 0 0 rg BT 115.81 331.25 Td (continuation ) Tj ET Q q 0 0 0 rg BT 168.30 331.25 Td (of ) Tj ET Q q 0 0 0 rg BT 179.13 331.25 Td (mining ) Tj ET Q q 0 0 0 rg BT 209.97 331.25 Td (activities.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 305.68505859375 m 222.2119140625 305.68505859375 l s q 0 0 0 rg BT 50.00 307.25 Td (North ) Tj ET Q q 0 0 0 rg BT 77.50 307.25 Td (American Coal Royalty Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.25 Td (No operating mines currently exist on the undeveloped coal reserves in ) Tj ET Q q 0 0 0 rg BT 336.30 289.25 Td (Alabama, Mississippi, North Dakota, Ohio, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.25 Td (Pennsylvania and ) Tj ET Q q 0 0 0 rg BT 122.58 277.25 Td (T) Tj ET Q q 0 0 0 rg BT 127.99 277.25 Td (exas. NACRC receives certain royalty payments based on the sale of oil and natural gas, primarily in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.25 Td (Louisiana and Ohio, and, to a lesser extent, for coal located in ) Tj ET Q q 0 0 0 rg BT 299.64 265.25 Td (Alabama, Mississippi, North Dakota and Pennsylvania, primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (extracted by third parties.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 203.603515625 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (North ) Tj ET Q q 0 0 0 rg BT 77.50 742.25 Td (American Mining Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.60 742.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (NAM primarily operates and maintains draglines to mine limestone and sand at the following quarries in Florida and ) Tj ET Q q 0 0 0 rg BT 519.71 724.25 Td (V) Tj ET Q q 0 0 0 rg BT 526.33 724.25 Td (ir) Tj ET Q q 0 0 0 rg BT 532.26 724.25 Td (ginia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (pursuant to mining services agreements with the quarry owners:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 680.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 680.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 680.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 680.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 650.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 650.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 650.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 650.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 620.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 620.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 620.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 620.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 590.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 590.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 590.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 590.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 560.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 560.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 560.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 530.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 530.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 530.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 530.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 500.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 500.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 500.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 500.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 470.75 232.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 470.75 92.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 470.75 109.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 470.75 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 440.75 232.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.50 440.75 92.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 440.75 109.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 440.75 79.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 680.75 m 282.5 680.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.5 680.75 m 374.5 680.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 680.75 m 483.5 680.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 680.75 m 562.5 680.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 684.98 Td (Quarry Name) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.85 684.98 Td (Location) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.90 684.98 Td (Quarry Owner) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.10 692.98 Td (Y) Tj ET Q q 0 0 0 rg BT 490.99 692.98 Td (ear) Tj ET Q q 0 0 0 rg BT 501.95 692.98 Td ( NACoal Started) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.50 684.98 Td (Dragline Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 671.32 Td (White Rock Quarry North) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 671.32 Td (Miami) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.80 671.32 Td (WRQ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 671.32 Td (1995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 656.32 Td (Krome Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 656.32 Td (Miami) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 656.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 656.32 Td (2003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 641.32 Td (Alico Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.55 641.32 Td (Ft. Myers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 641.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 641.32 Td (2004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 626.32 Td (FEC Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 626.32 Td (Miami) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 626.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 626.32 Td (2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 611.32 Td (White Rock Quarry South) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 611.32 Td (Miami) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.80 611.32 Td (WRQ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 611.32 Td (2005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 596.32 Td (SCL) Tj ET Q q 0 0 0 rg BT 71.15 596.32 Td ( Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 596.32 Td (Miami) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 596.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 596.32 Td (2006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 581.32 Td (Central State ) Tj ET Q q 0 0 0 rg BT 107.15 581.32 Td (Aggregates Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.90 581.32 Td (Zephyrhills) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.05 581.32 Td (McDonald Group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 581.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.32 Td (Mid Coast ) Tj ET Q q 0 0 0 rg BT 97.17 566.32 Td (Aggregates Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.55 566.32 Td (Sumter County) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.05 566.32 Td (McDonald Group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 566.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 551.32 Td (W) Tj ET Q q 0 0 0 rg BT 62.04 551.32 Td (est Florida ) Tj ET Q q 0 0 0 rg BT 106.36 551.32 Td (Aggregates Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 551.32 Td (Hernando County) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.05 551.32 Td (McDonald Group) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 551.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 536.32 Td (St. Catherine Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.55 536.32 Td (Sumter County) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 536.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 536.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 521.32 Td (Center Hill Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.55 521.32 Td (Sumter County) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 521.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 521.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 506.32 Td (Inglis Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 506.32 Td (Crystal River) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.30 506.32 Td (Cemex) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 506.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.32 Td (T) Tj ET Q q 0 0 0 rg BT 58.93 491.32 Td (itan Corkscrew Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.55 491.32 Td (Ft. Myers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.90 491.32 Td (T) Tj ET Q q 0 0 0 rg BT 405.83 491.32 Td (itan ) Tj ET Q q 0 0 0 rg BT 422.88 491.32 Td (America) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 491.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 476.32 Td (Palm Beach ) Tj ET Q q 0 0 0 rg BT 103.27 476.32 Td (Aggregates Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.45 476.32 Td (Loxahatchee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.70 476.32 Td (Palm Beach ) Tj ET Q q 0 0 0 rg BT 430.97 476.32 Td (Aggregates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 476.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 461.32 Td (Perry Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.40 461.32 Td (Lamont) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.70 461.32 Td (Martin Marietta) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 461.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.32 Td (SDI ) Tj ET Q q 0 0 0 rg BT 71.34 446.32 Td (Aggregates Quarry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 446.32 Td (Florida City) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 446.32 Td (Blue ) Tj ET Q q 0 0 0 rg BT 406.40 446.32 Td (W) Tj ET Q q 0 0 0 rg BT 415.34 446.32 Td (ater Industries) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 446.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 431.32 Td (Queensfield Mine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 431.32 Td (King ) Tj ET Q q 0 0 0 rg BT 323.06 431.32 Td (W) Tj ET Q q 0 0 0 rg BT 332.21 431.32 Td (illiam) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.85 421.32 Td (County) Tj ET Q q 0 0 0 rg BT 333.97 421.32 Td (, ) Tj ET Q q 0 0 0 rg BT 338.56 421.32 Td (V) Tj ET Q q 0 0 0 rg BT 345.05 421.32 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.40 431.32 Td (King ) Tj ET Q q 0 0 0 rg BT 403.81 431.32 Td (W) Tj ET Q q 0 0 0 rg BT 412.96 431.32 Td (illiam Sand and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.35 421.32 Td (Gravel Company) Tj ET Q q 0 0 0 rg BT 452.62 421.32 Td (, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.50 431.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td (NAM's customers control all of the limestone reserves within their respective quarries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.25 Td (Access to the ) Tj ET Q q 0 0 0 rg BT 105.63 380.25 Td (White Rock Quarry is by means of a paved road from 122nd ) Tj ET Q q 0 0 0 rg BT 350.01 380.25 Td (A) Tj ET Q q 0 0 0 rg BT 356.49 380.25 Td (venue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (Access to the Krome Quarry is by means of a paved road from Krome ) Tj ET Q q 0 0 0 rg BT 332.69 362.25 Td (A) Tj ET Q q 0 0 0 rg BT 339.17 362.25 Td (venue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 344.25 Td (Access to the ) Tj ET Q q 0 0 0 rg BT 105.26 344.25 Td (Alico Quarry is by means of a paved road from ) Tj ET Q q 0 0 0 rg BT 296.32 344.25 Td (Alico Road. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (Access to the FEC Quarry is by means of a paved road from NW) Tj ET Q q 0 0 0 rg BT 310.02 326.25 Td ( 1) Tj ET Q q 0 0 0 rg BT 317.15 326.25 Td (18th ) Tj ET Q q 0 0 0 rg BT 336.88 326.25 Td (A) Tj ET Q q 0 0 0 rg BT 343.36 326.25 Td (venue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.25 Td (Access to the SCL) Tj ET Q q 0 0 0 rg BT 123.78 308.25 Td ( Quarry is by means of a paved road from NW) Tj ET Q q 0 0 0 rg BT 309.65 308.25 Td ( 137th ) Tj ET Q q 0 0 0 rg BT 336.88 308.25 Td (A) Tj ET Q q 0 0 0 rg BT 343.36 308.25 Td (venue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 290.25 Td (Access to the Central State ) Tj ET Q q 0 0 0 rg BT 159.69 290.25 Td (Aggregates Quarry is by means of a paved road from ) Tj ET Q q 0 0 0 rg BT 374.25 290.25 Td (Y) Tj ET Q q 0 0 0 rg BT 380.47 290.25 Td (onkers Boulevard. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.25 Td (Access to the Mid Coast ) Tj ET Q q 0 0 0 rg BT 149.71 272.25 Td (Aggregates Quarry is by means of a paved road from State Road 50. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (Access to the ) Tj ET Q q 0 0 0 rg BT 105.63 254.25 Td (W) Tj ET Q q 0 0 0 rg BT 114.27 254.25 Td (est Florida Quarry is by means of a paved road from Cortez Boulevard. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.25 Td (Access to the St. Catherine Quarry is by means of a paved road from County Road 673. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.25 Td (Access to the Center Hill Quarry is by means of a paved road from ) Tj ET Q q 0 0 0 rg BT 319.74 218.25 Td (W) Tj ET Q q 0 0 0 rg BT 328.37 218.25 Td (est Kings Highway) Tj ET Q q 0 0 0 rg BT 404.38 218.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.25 Td (Access to the Inglis Quarry is by means of a paved road from Highway 19 South.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 182.25 Td (Access to the ) Tj ET Q q 0 0 0 rg BT 105.63 182.25 Td (T) Tj ET Q q 0 0 0 rg BT 111.39 182.25 Td (itan Corkscrew Quarry is by means of a paved road from Corkscrew Road.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.25 Td (Access to the Palm Beach ) Tj ET Q q 0 0 0 rg BT 155.81 164.25 Td (Aggregates Quarry is by means of a paved road from State Road 80.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.85 Td (Access to the Perry Quarry is by means of paved road from Nutall Rise Road.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.45 Td (Access to the SDI ) Tj ET Q q 0 0 0 rg BT 123.88 117.45 Td (Aggregates Quarry is by means of paved road from SW) Tj ET Q q 0 0 0 rg BT 346.68 117.45 Td ( 167) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 364.18 121.98 Td (th) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.24 117.45 Td ( ) Tj ET Q q 0 0 0 rg BT 371.19 117.45 Td (A) Tj ET Q q 0 0 0 rg BT 377.12 117.45 Td (VE.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.05 Td (Access to the Queensfield Mine is by means of paved road from Dabney's Mill Road \(SR 604\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.05 Td (NAM has no title, claim, lease or option to acquire any of the reserves at any of the limestone or sand quarries where it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.05 Td (provides services.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (General Information about the Mines) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.22 724.25 Td (. ) Tj ET Q q 0 0 0 rg BT 82.04 724.25 Td (The leases held by Coteau, Coyote Creek, Falkirk and MLMC have a variety of continuation provisions, but generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (permit the leases to be continued beyond their fixed terms. Centennial holds the mining rights to the reserves within its mines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (through fee ownership, and leases and licenses from the coal and surface owners. NACoal expects coal will be available to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (meet customers' future production requirements utilizing land and reserves that are currently owned or leased or accessible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (through ownership acquisition or new leases.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 59.63 658.25 Td (evious Operators) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.79 658.25 Td (. ) Tj ET Q q 0 0 0 rg BT 133.61 658.25 Td (There were no previous operators of the Freedom Mine, Falkirk Mine, South Hallsville No. 1 Mine, Five ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Forks Mine, Marshall Mine, Eagle Pass Mine, Liberty Mine, Coyote Creek Mine or Red Hills Mine. In January 2017, Bisti ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (became the operator of NTEC's Navajo Mine, which was previously operated by a third party) Tj ET Q q 0 0 0 rg BT 423.54 634.25 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (Exploration and Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.53 616.25 Td (. ) Tj ET Q q 0 0 0 rg BT 174.98 616.25 Td (All mines are well past the exploration stage. ) Tj ET Q q 0 0 0 rg BT 357.80 616.25 Td (W) Tj ET Q q 0 0 0 rg BT 366.84 616.25 Td (ith the exceptions of Centennial, which ceased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (production at the end of 2015, and Liberty) Tj ET Q q 0 0 0 rg BT 218.75 604.25 Td (, which commenced mine reclamation in 2018, additional pit development is under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (way at each mine. Drilling programs are routinely conducted for the purpose of refining guidance related to ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (operations. For example, at the Red Hills Mine, the lignite coal reserve has been defined by a drilling program that is designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (to provide 500-foot spaced drill holes for areas anticipated to be mined within six years of the current pit. Drilling beyond the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (six-year horizon ranges from 1,000 to 2,000-foot centers. Drilling is conducted annually to stay current with the advance of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (mining operations. Geological evaluation is in process at all operating locations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (Facilities and Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.09 526.25 Td (. ) Tj ET Q q 0 0 0 rg BT 155.91 526.25 Td (The facilities and equipment for each of the mines are maintained to allow for safe and ef) Tj ET Q q 0 0 0 rg BT 513.36 526.25 Td (ficient ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (operation. ) Tj ET Q q 0 0 0 rg BT 92.58 514.25 Td (The equipment is well maintained, in good physical condition and is either updated or replaced periodically with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (newer models or upgrades available to keep up with modern technology) Tj ET Q q 0 0 0 rg BT 337.60 502.25 Td (. ) Tj ET Q q 0 0 0 rg BT 342.05 502.25 Td (As equipment wears out, the mines evaluate what) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (replacement option will be the most cost-ef) Tj ET Q q 0 0 0 rg BT 223.10 490.25 Td (ficient, including the evaluation of both new and used equipment, and proceed with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (that replacement. ) Tj ET Q q 0 0 0 rg BT 121.17 478.25 Td (The majority of electrical power for the draglines, shovels, coal crushers, coal conveyors and facilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (generally is provided by the power generation customer for the applicable mine. Electrical power for the Sabine facilities is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (provided by Upshur Rural Electric Co-op. Electrical power for the Sabine dragline operating in the South Marshall permit area ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (is provided by Southwestern Electric Power Company) Tj ET Q q 0 0 0 rg BT 266.53 442.25 Td (. Electrical power for the draglines operating in the Rusk permit area is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (provided by Rusk County Electric Co-op. Electrical power for the MLMC draglines and shovels is provided by 4-County ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Electric Power ) Tj ET Q q 0 0 0 rg BT 111.09 418.25 Td (Association. ) Tj ET Q q 0 0 0 rg BT 163.13 418.25 Td (The remainder of the equipment generally is powered by diesel fuel or gasoline. ) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The total cost of the property) Tj ET Q q 0 0 0 rg BT 165.70 742.10 Td (, plant and equipment, net of applicable accumulated amortization, depreciation and impairment as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 730.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.41 730.10 Td ( is set forth in the chart below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 651.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 651.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 651.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 621.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 621.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 621.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 591.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 591.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 561.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 561.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 561.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 531.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 531.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 531.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 501.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 501.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 501.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 471.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 471.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 471.60 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 441.60 344.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 441.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 441.60 160.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 666.6 m 394.5 666.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 666.6 m 562.5 666.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 53.00 670.83 Td (Mine) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 432.35 710.83 Td (T) Tj ET Q q 0 0 0 rg BT 436.95 710.83 Td (otal Historical Cost of Mine ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 428.25 702.83 Td (Pr) Tj ET Q q 0 0 0 rg BT 436.54 702.83 Td (operty) Tj ET Q q 0 0 0 rg BT 458.32 702.83 Td (, Plant and Equipment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.65 694.83 Td (\(excluding Coal Land, Real Estate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 686.83 Td (and Construction in Pr) Tj ET Q q 0 0 0 rg BT 497.10 686.83 Td (ogr) Tj ET Q q 0 0 0 rg BT 508.51 686.83 Td (ess\), Net of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 440.10 678.83 Td (Applicable ) Tj ET Q q 0 0 0 rg BT 478.55 678.83 Td (Accumulated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 406.05 670.83 Td (Amortization, Depr) Tj ET Q q 0 0 0 rg BT 473.00 670.83 Td (eciation and Impairment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 655.85 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.40 656.27 Td (\() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 460.73 656.27 Td (in millions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 641.28 Td (Unconsolidated Mining Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 641.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 626.27 Td (Freedom Mine ) Tj ET Q q 0 0 0 rg BT 127.06 626.27 Td (The Coteau Properties Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 626.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 626.27 Td (194.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 611.27 Td (Falkirk Mine ) Tj ET Q q 0 0 0 rg BT 120.40 611.27 Td (The Falkirk Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 611.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 611.27 Td (78.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 596.27 Td (South Hallsville No. 1 Mine ) Tj ET Q q 0 0 0 rg BT 180.96 596.27 Td (The Sabine Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 596.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 596.27 Td (145.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 581.27 Td (Five Forks Mine Demery Resources Company) Tj ET Q q 0 0 0 rg BT 251.54 581.27 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 581.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 581.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.27 Td (Marshall Mine Caddo Creek Resources Company) Tj ET Q q 0 0 0 rg BT 264.30 566.27 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 566.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 566.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 551.27 Td (Eagle Pass Mine Camino Real Fuels, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 551.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 551.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 536.27 Td (Liberty Mine Liberty Fuels Company) Tj ET Q q 0 0 0 rg BT 215.71 536.27 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 536.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 536.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 521.27 Td (Coyote Creek Mine Coyote Creek Mining Company) Tj ET Q q 0 0 0 rg BT 275.15 521.27 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 521.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 521.27 Td (159.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 506.27 Td (Navajo Mine Bisti Fuels Company) Tj ET Q q 0 0 0 rg BT 204.61 506.27 Td (, LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 506.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 506.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 491.27 Td (North ) Tj ET Q q 0 0 0 rg BT 78.55 491.27 Td (American Mining Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 491.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 491.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 476.28 Td (Consolidated Mining Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 461.27 Td (Red Hills Mine Mississippi Lignite Mining Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 461.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 461.27 Td (54.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 446.27 Td (North ) Tj ET Q q 0 0 0 rg BT 78.55 446.27 Td (American Mining Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 446.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 446.27 Td (10.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 431.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 431.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 431.27 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (Predominantly all of Bisti, Caddo Creek, Camino Real, Demery) Tj ET Q q 0 0 0 rg BT 305.14 403.10 Td (, Liberty and Unconsolidated NAM's machinery and equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (is owned by NACoal) Tj ET Q q 0 0 0 rg BT 136.94 391.10 Td (s customers. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 361.10 Td (Government Regulation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.10 Td (NACoal) Tj ET Q q 0 0 0 rg BT 86.11 343.10 Td (s operations are subject to various federal, state and local laws and regulations on matters such as employee health and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (safety) Tj ET Q q 0 0 0 rg BT 73.23 331.10 Td (, and certain environmental laws relating to, among other matters, the reclamation and restoration of properties after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (mining operations, air pollution, water pollution, the disposal of wastes and ef) Tj ET Q q 0 0 0 rg BT 361.98 319.10 Td (fects on groundwater) Tj ET Q q 0 0 0 rg BT 445.84 319.10 Td (. In addition, the electric ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (power generation industry is subject to extensive regulation regarding the environmental impact of its power generation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (activities that could af) Tj ET Q q 0 0 0 rg BT 138.40 295.10 Td (fect demand for coal from NACoal) Tj ET Q q 0 0 0 rg BT 281.40 295.10 Td (s coal mining operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.10 Td (Numerous governmental permits and approvals are required for coal mining operations. NACoal or one of its subsidiaries holds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.10 Td (or will hold the necessary permits at all of NACoal) Tj ET Q q 0 0 0 rg BT 256.89 265.10 Td (s coal mining operations except at Demery) Tj ET Q q 0 0 0 rg BT 427.30 265.10 Td (, Caddo Creek, Bisti and Camino ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.10 Td (Real, where NACoal) Tj ET Q q 0 0 0 rg BT 136.36 253.10 Td (s customers hold the respective permits. ) Tj ET Q q 0 0 0 rg BT 298.27 253.10 Td (At NACoal) Tj ET Q q 0 0 0 rg BT 346.88 253.10 Td (s operations in ) Tj ET Q q 0 0 0 rg BT 407.15 253.10 Td (Alabama, Centennial holds all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.10 Td (necessary permits except at two locations, where the permits are held by the coal reserve owner and another mining company) Tj ET Q q 0 0 0 rg BT 550.83 241.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (The Company believes, based upon present information provided to it by these third-party mine permit holders, that these third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.10 Td (parties have all permits necessary for NACoal to operate Centennial, Caddo Creek, Demery) Tj ET Q q 0 0 0 rg BT 416.45 217.10 Td (, Bisti and Camino Real; however) Tj ET Q q 0 0 0 rg BT 551.58 217.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (the Company cannot be certain that these third parties will be able to maintain all such permits in the future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (At the coal mining operations where NACoal holds the permits, NACoal is required to prepare and present to federal, state or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (local governmental authorities data pertaining to the ef) Tj ET Q q 0 0 0 rg BT 268.91 175.10 Td (fect or impact that any proposed exploration for or production of coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (may have upon the environment and public and employee health and safety) Tj ET Q q 0 0 0 rg BT 351.20 163.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (The limestone quarries where NACoal provides services are owned and operated by NACoal) Tj ET Q q 0 0 0 rg BT 424.88 145.10 Td (s customers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (Some laws, as discussed below) Tj ET Q q 0 0 0 rg BT 174.06 127.10 Td (, place many requirements on NACoal) Tj ET Q q 0 0 0 rg BT 330.68 127.10 Td (s coal mining operations and the limestone quarries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (where NACoal provides services. Federal and state regulations require regular monitoring of NACoal) Tj ET Q q 0 0 0 rg BT 459.60 115.10 Td (s operations to ensure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (compliance.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 740.7669921875 m 169.4091796875 740.7669921875 l s q 0 0 0 rg BT 50.00 742.10 Td (Mine Health and Safety Laws) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 724.10 Td (The Federal Mine Safety and Health ) Tj ET Q q 0 0 0 rg BT 197.73 724.10 Td (Act of 1977 imposes safety and health standards on all mining operations. Regulations are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (comprehensive and af) Tj ET Q q 0 0 0 rg BT 137.56 712.10 Td (fect numerous aspects of mining operations, including training of mine personnel, mining procedures, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (blasting, the equipment used in mining operations and other matters. ) Tj ET Q q 0 0 0 rg BT 326.43 700.10 Td (The Federal Mine Safety and Health ) Tj ET Q q 0 0 0 rg BT 474.16 700.10 Td (Administration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (enforces compliance with these federal laws and regulations.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 662.7669921875 m 133.5888671875 662.7669921875 l s q 0 0 0 rg BT 50.00 664.10 Td (Environmental Laws) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.70 Td (NACoal) Tj ET Q q 0 0 0 rg BT 86.11 640.70 Td (s coal mining operations are subject to various federal environmental laws, as amended, including:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 623.30 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 623.30 Td (the Surface Mining Control and Reclamation ) Tj ET Q q 0 0 0 rg BT 268.18 623.30 Td (Act of 1977 \(SMCRA\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 605.90 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 605.90 Td (the Clean ) Tj ET Q q 0 0 0 rg BT 125.99 605.90 Td (Air ) Tj ET Q q 0 0 0 rg BT 141.27 605.90 Td (Act, including amendments to that act in 1990 \(CAA\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 588.50 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 588.50 Td (the Clean ) Tj ET Q q 0 0 0 rg BT 126.36 588.50 Td (W) Tj ET Q q 0 0 0 rg BT 135.00 588.50 Td (ater ) Tj ET Q q 0 0 0 rg BT 151.93 588.50 Td (Act of 1972 \(CW) Tj ET Q q 0 0 0 rg BT 224.97 588.50 Td (A\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 571.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 571.10 Td (the Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 253.45 571.10 Td (Act \("RCRA"\); and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 553.70 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 553.70 Td (the Comprehensive Environmental Response, Compensation and Liability ) Tj ET Q q 0 0 0 rg BT 384.84 553.70 Td (Act \("CERCLA"\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.70 Td (In addition to these federal environmental laws, various states have enacted environmental laws that provide for higher levels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.70 Td (of environmental compliance than similar federal laws. ) Tj ET Q q 0 0 0 rg BT 273.07 523.70 Td (These state environmental laws require reporting, permitting and/or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.70 Td (approval of many aspects of coal mining operations. Both federal and state inspectors regularly visit mines to enforce ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.70 Td (compliance. NACoal has ongoing training, compliance and permitting programs to ensure compliance with such environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.70 Td (laws.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 462.3669921875 m 231.904296875 462.3669921875 l s q 0 0 0 rg BT 50.00 463.70 Td (Surface Mining Control and Reclamation ) Tj ET Q q 0 0 0 rg BT 217.47 463.70 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.70 Td (SMCRA) Tj ET Q q 0 0 0 rg BT 84.46 445.70 Td ( establishes mining, environmental protection and reclamation standards for all aspects of surface coal mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.70 Td (operations. ) Tj ET Q q 0 0 0 rg BT 96.47 433.70 Td (Where state regulatory agencies have adopted federal mining programs under SMCRA, the state becomes the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.70 Td (primary regulatory authority) Tj ET Q q 0 0 0 rg BT 163.20 421.70 Td (. ) Tj ET Q q 0 0 0 rg BT 168.02 421.70 Td (W) Tj ET Q q 0 0 0 rg BT 177.06 421.70 Td (ith the exception of the Navajo Nation in New Mexico, which is directly regulated by the Of) Tj ET Q q 0 0 0 rg BT 546.49 421.70 Td (fice ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.70 Td (of Surface Mining Reclamation and Enforcement \("OSM"\) under their Indian Lands Program, all of the states where NACoal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.70 Td (has active coal mining operations have achieved primary control of enforcement through federal authorization under SMCRA.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.70 Td (Coal mine operators must obtain SMCRA) Tj ET Q q 0 0 0 rg BT 217.50 379.70 Td ( permits and permit renewals for coal mining operations from the applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 367.70 Td (regulatory agency) Tj ET Q q 0 0 0 rg BT 121.26 367.70 Td (. ) Tj ET Q q 0 0 0 rg BT 126.08 367.70 Td (These SMCRA) Tj ET Q q 0 0 0 rg BT 186.92 367.70 Td ( permit provisions include requirements for coal prospecting, mine plan development, topsoil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 355.70 Td (removal, storage and replacement, selective handling of overburden materials, mine pit backfilling and grading, protection of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 343.70 Td (the hydrologic balance, surface drainage control, mine drainage and mine dischar) Tj ET Q q 0 0 0 rg BT 375.24 343.70 Td (ge control and treatment, and revegetation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.70 Td (Although NACoal) Tj ET Q q 0 0 0 rg BT 126.39 325.70 Td (s permits have stated expiration dates, SMCRA) Tj ET Q q 0 0 0 rg BT 315.53 325.70 Td ( provides for a right of successive renewal. ) Tj ET Q q 0 0 0 rg BT 489.45 325.70 Td (The cost of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.70 Td (obtaining surface mining permits can vary widely depending on the quantity and type of information that must be provided to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.70 Td (obtain the permits; however) Tj ET Q q 0 0 0 rg BT 161.51 301.70 Td (, the cost of obtaining a permit is usually between $1,000,000 and $5,000,000, and the cost of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.70 Td (obtaining a permit renewal is usually between $15,000 and $100,000.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.70 Td (The ) Tj ET Q q 0 0 0 rg BT 67.50 271.70 Td (Abandoned Mine Land Fund, which is provided for by SMCRA, imposes a fee on certain coal mining operations. ) Tj ET Q q 0 0 0 rg BT 524.73 271.70 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.70 Td (proceeds are used principally to reclaim mine lands closed prior to 1977. In addition, the ) Tj ET Q q 0 0 0 rg BT 406.29 259.70 Td (Abandoned Mine Land Fund also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.70 Td (makes transfers annually to the United Mine ) Tj ET Q q 0 0 0 rg BT 230.05 247.70 Td (W) Tj ET Q q 0 0 0 rg BT 238.69 247.70 Td (orkers of ) Tj ET Q q 0 0 0 rg BT 276.46 247.70 Td (America Combined Benefit Fund \(the Fund\), which provides health ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.70 Td (care benefits to retired coal miners who are beneficiaries of the Fund. ) Tj ET Q q 0 0 0 rg BT 329.98 235.70 Td (The fee is currently $0.08 per ton on lignite coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.70 Td (produced and $0.28 per ton on other surface-mined coal.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.70 Td (SMCRA) Tj ET Q q 0 0 0 rg BT 84.46 205.70 Td ( establishes operational, reclamation and closure standards for surface coal mines. ) Tj ET Q q 0 0 0 rg BT 414.44 205.70 Td (The Company accrues for the costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.70 Td (of current mine disturbance and final mine closure, including the cost of treating mine water dischar) Tj ET Q q 0 0 0 rg BT 450.24 193.70 Td (ges, at mines where ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.70 Td (NACoal subsidiaries hold the mining permit. ) Tj ET Q q 0 0 0 rg BT 232.30 181.70 Td (These obligations are unfunded with the exception of the final mine closure costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.70 Td (for the Coyote Creek Mine, which are being funded throughout the production stage.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.70 Td (SMCRA) Tj ET Q q 0 0 0 rg BT 84.46 151.70 Td ( stipulates compliance with many other major environmental programs, including the CAA) Tj ET Q q 0 0 0 rg BT 448.27 151.70 Td ( and CW) Tj ET Q q 0 0 0 rg BT 482.71 151.70 Td (A. ) Tj ET Q q 0 0 0 rg BT 494.75 151.70 Td (The U.S. ) Tj ET Q q 0 0 0 rg BT 532.53 151.70 Td (Army ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.70 Td (Corps of Engineers regulates activities af) Tj ET Q q 0 0 0 rg BT 214.49 139.70 Td (fecting navigable waters, and the U.S. Bureau of ) Tj ET Q q 0 0 0 rg BT 410.82 139.70 Td (Alcohol, ) Tj ET Q q 0 0 0 rg BT 447.85 139.70 Td (T) Tj ET Q q 0 0 0 rg BT 453.26 139.70 Td (obacco and Firearms ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.70 Td (regulates the use of explosives for blasting. In addition, the U.S. Environmental Protection ) Tj ET Q q 0 0 0 rg BT 414.10 127.70 Td (Agency \(the EP) Tj ET Q q 0 0 0 rg BT 480.93 127.70 Td (A\), the U.S. ) Tj ET Q q 0 0 0 rg BT 535.37 127.70 Td (Army ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.70 Td (Corps of Engineers and the OSM are engaged in a series of rulemakings and other administrative actions under the CW) Tj ET Q q 0 0 0 rg BT 526.81 115.70 Td (A) Tj ET Q q 0 0 0 rg BT 533.48 115.70 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.70 Td (other statutes that are directed at reducing the impact of coal mining operations on water bodies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.70 Td (The Company does not believe there is any significant risk to NACoal) Tj ET Q q 0 0 0 rg BT 334.11 85.70 Td (s ability to maintain its existing mining permits or its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.70 Td (ability to acquire future mining permits for its mines.) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 740.7669921875 m 231.201171875 740.7669921875 l s q 0 0 0 rg BT 50.00 742.10 Td (Clean ) Tj ET Q q 0 0 0 rg BT 75.27 742.10 Td (Air ) Tj ET Q q 0 0 0 rg BT 90.55 742.10 Td (Act and Clean Power Plan \("CPP"\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 718.10 Td (The process of burning coal can cause many compounds and impurities in the coal to be released into the air) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 483.07 718.10 Td (, including sulfur ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 706.10 Td (dioxide, nitrogen oxides, mercury) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 184.59 706.10 Td (, particulates and other matter) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 303.16 706.10 Td (. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 307.98 706.10 Td (The CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 346.59 706.10 Td ( and the corresponding state laws that extensively ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 694.10 Td (regulate the emissions of materials into the air af) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 244.76 694.10 Td (fect coal mining operations both directly and indirectly) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 464.32 694.10 Td (. Direct impacts on coal ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 682.10 Td (mining operations occur through CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 203.87 682.10 Td ( permitting requirements and/or emission control requirements relating to air ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 670.10 Td (contaminants, especially particulate matter) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 220.49 670.10 Td (. Indirect impacts on coal mining operations occur through regulation of the air ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 658.10 Td (emissions of sulfur dioxide, nitrogen oxides, mercury) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 263.20 658.10 Td (, particulate matter and other compounds emitted by coal-fired power ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 646.10 Td (plants. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 78.71 646.10 Td (The EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 107.50 646.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 114.17 646.10 Td ( has promulgated or proposed regulations that impose tighter emission restrictions in a number of areas, some ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 634.10 Td (of which are currently subject to litigation. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 223.10 634.10 Td (The general ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 280.66 634.10 Td (fect of tighter restrictions is to reduce demand for coal. Ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 622.10 Td (reduction in coal) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 119.98 622.10 Td (s share of the capacity for power generation could have a material adverse ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 426.59 622.10 Td (fect on the Company) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 512.96 622.10 Td (s business, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 610.10 Td (financial condition and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 586.10 Td (States are required to submit to the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 202.66 586.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 209.33 586.10 Td ( revisions to their state implementation plans \("SIPs"\) that demonstrate the manner in ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 574.10 Td (which the states will attain national ambient air quality standards \("NAAQS"\) every time a NAAQS is issued or revised by the ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 562.10 Td (EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 60.75 562.10 Td (A. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 72.79 562.10 Td (The EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 101.59 562.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 108.26 562.10 Td ( has adopted NAAQS for several pollutants, which continue to be reviewed periodically for revisions. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 517.70 562.10 Td (When the ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 550.10 Td (EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 60.75 550.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 67.42 550.10 Td ( adopts new) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 114.54 550.10 Td (, more stringent NAAQS for a pollutant, some states have to change their existing SIPs. If a state fails to revise ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 538.10 Td (its SIP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 76.03 538.10 Td ( and obtain EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 133.72 538.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 140.39 538.10 Td ( approval, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 208.34 538.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 215.01 538.10 Td ( may adopt regulations to ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 326.74 538.10 Td (fect the revision. Coal mining operations and coal-fired ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 526.10 Td (power plants that emit particulate matter or other specified material are, therefore, af) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 387.99 526.10 Td (fected by changes in the SIPs. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 510.28 526.10 Td (Through this ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 514.10 Td (process over the last few years, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 202.92 514.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 209.59 514.10 Td ( has reduced the NAAQS for particulate matter) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 397.73 514.10 Td (, ozone, and nitrogen oxides. NACoal) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 551.59 514.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 502.10 Td (coal mining operations and power generation customers may be directly af) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 348.61 502.10 Td (fected when the revisions to the SIPs are made and ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 490.10 Td (incorporate new NAAQS for sulfur dioxide, nitrogen oxides, ozone and particulate matter) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 409.06 490.10 Td (. In response to a court remand of ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 478.10 Td (earlier rules to control the regional dispersion of sulfur dioxide and nitrogen oxides from coal-fired power plants and their ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 466.10 Td (impacts of downwind NAAQS areas, in mid-201) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 245.43 466.10 Td (1, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 280.90 466.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 287.57 466.10 Td ( finalized the Cross-State ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 390.33 466.10 Td (Air Pollution Rule \("CSAPR"\) to address ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 454.10 Td (interstate transport of pollutants. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 182.29 454.10 Td (This af) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 210.16 454.10 Td (fects states in the eastern half of the U.S. and ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 392.70 454.10 Td (T) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 398.11 454.10 Td (exas. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 420.69 454.10 Td (This rule imposes additional ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 442.10 Td (emission restrictions on coal-fired power plants to attain ozone and fine particulate NAAQS. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 425.55 442.10 Td (The EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 454.35 442.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 461.02 442.10 Td ( subsequently appealed ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 430.10 Td (to the U.S. Supreme Court, which overturned the lower court ruling in 2014. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 358.37 430.10 Td (The EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 387.17 430.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 393.84 430.10 Td ( began implementation of the rule in ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 418.10 Td (2015, when Phase I emission reductions in sulfur dioxide and nitrogen dioxide became ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 407.51 418.10 Td (fective. Phase II reductions became ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 406.10 Td (ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 57.59 406.10 Td (fective in 2017. On October 26, 2016, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 237.47 406.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 244.14 406.10 Td ( finalized an update to the CSAPR, which included additional reductions in ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 394.10 Td (nitrogen oxide emissions. Some questions regarding the rule remain unresolved and additional litigation is pending. In 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 382.10 Td (the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 75.47 382.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 82.14 382.10 Td ( finalized all remaining ozone designations to comply with the 2015 ozone air quality standards. None of the power ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 370.10 Td (plants supplied by NACoal are within non-attainment areas for ozone. ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 346.10 Td (The CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 88.61 346.10 Td ( ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 90.56 346.10 Td (Acid Rain Control Provisions were promulgated as part of the CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 361.63 346.10 Td ( ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 363.57 346.10 Td (Amendments of 1990 in ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 462.83 346.10 Td (T) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 468.58 346.10 Td (itle IV) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 494.23 346.10 Td ( of the CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 542.84 346.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 334.10 Td (\(Acid Rain Program\). ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 148.12 334.10 Td (The ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 165.62 334.10 Td (Acid Rain Program required reductions of sulfur dioxide emissions from coal-fired power plants. ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 322.10 Td (The ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 67.50 322.10 Td (Acid Rain Program is now a mature program, and the Company believes that any market impacts of the required controls ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 310.10 Td (have likely been factored into the coal market.) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 286.10 Td (The EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 78.80 286.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 85.47 286.10 Td ( promulgated a regional haze program designed to protect and to improve visibility at and around ClassI ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 506.47 286.10 Td (Areas, which ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 274.10 Td (are generally National Parks, National ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 205.32 274.10 Td (W) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 214.36 274.10 Td (ilderness ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 251.85 274.10 Td (Areas and International Parks. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 375.24 274.10 Td (This program may restrict the construction of ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 262.10 Td (new coal-fired power plants, the operation of which may impair visibility at and around the ClassI ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 447.12 262.10 Td (Areas. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 474.89 262.10 Td (Additionally) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 524.79 262.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 250.10 Td (program requires certain existing coal-fired power plants to ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 290.47 250.10 Td (install additional control measures designed to limit haze-causing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (emissions, such as sulfur dioxide, nitrogen oxide and particulate matter) Tj ET Q q 0 0 0 rg BT 334.10 238.10 Td (. States were required to submit Regional Haze SIPs to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (the EP) Tj ET Q q 0 0 0 rg BT 75.47 226.10 Td (A) Tj ET Q q 0 0 0 rg BT 82.14 226.10 Td ( in2007; however) Tj ET Q q 0 0 0 rg BT 154.22 226.10 Td (, many states did not meet that deadline. In 2016, the EP) Tj ET Q q 0 0 0 rg BT 378.81 226.10 Td (A) Tj ET Q q 0 0 0 rg BT 385.48 226.10 Td ( finalized revisions to the Regional Haze ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (Rule which addresses requirements for the second planning period. SIPs will be required by July 31, 2021. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Under the CAA, new and modified sources of air pollution must meet certain new source standards \(the New Source Review ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Program\). In the late 1990s, the EP) Tj ET Q q 0 0 0 rg BT 194.05 178.10 Td (A) Tj ET Q q 0 0 0 rg BT 200.72 178.10 Td ( filed lawsuits against owners of many coal-fired power plants in the eastern U.S. alleging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (that the owners performed non-routine maintenance, causing increased emissions that should have triggered the application of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (these new source standards. Some of these lawsuits have been settled with the owners agreeing to install additional emission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (control devices in their coal-fired power plants. ) Tj ET Q q 0 0 0 rg BT 241.97 142.10 Td (The EP) Tj ET Q q 0 0 0 rg BT 270.77 142.10 Td (A) Tj ET Q q 0 0 0 rg BT 277.44 142.10 Td ( published draft revisions to the New Source Review Program in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (December 2018 and revisions to the program are anticipated to be completed in 2019. ) Tj ET Q q 0 0 0 rg BT 395.54 130.10 Td (The remaining litigation and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (uncertainty around the New Source Review Program rules could adversely impact demand for coal. ) Tj ET Q q 0 0 0 rg BT 450.70 118.10 Td (Any additional new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (controls may have an adverse impact on the demand for coal, which may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 448.54 106.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 534.91 106.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (business, financial condition or results of operations. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 70.10 Td (Under the CAA, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 143.79 70.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 150.46 70.10 Td ( also adopts national emission standards for hazardous air pollutants. In December 201) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 496.94 70.10 Td (1, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 532.41 70.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 539.08 70.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 58.10 Td (adopted a final rule called the Mercury and ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 224.37 58.10 Td (Air ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 240.02 58.10 Td (T) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 245.43 58.10 Td (oxics Standard \(MA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 329.86 58.10 Td (TS\), which applies to new and existing coal-fired and ) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 742.10 Td (oil-fired units. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 112.03 742.10 Td (This rule requires mercury emission reductions in fine particulates, which are being regulated as a surrogate for ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 730.10 Td (certain metals. ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 706.10 Td (NACoal) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 86.11 706.10 Td (s power generation customers must incur substantial costs to control emissions to meet all of the CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 494.38 706.10 Td ( requirements, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 694.10 Td (including the requirements under MA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 199.97 694.10 Td (TS and the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 256.54 694.10 Td (A's regional haze program. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 366.73 694.10 Td (These costs raise the price of coal-generated ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 682.10 Td (electricity) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 89.33 682.10 Td (, making coal-fired power less competitive with other sources of electricity) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 388.85 682.10 Td (, thereby reducing demand for coal. In ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 670.10 Td (addition, NACoal's power generation customers may choose to close coal-fired generation units or to postpone or cancel plans ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 658.10 Td (to add new capacity) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 129.04 658.10 Td (, in light of these costs and the limited time available for compliance with the requirements and the ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 646.10 Td (prospects of the imposition of additional future requirements on emissions from coal-fired units. If NACoal's customers cannot ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 634.10 Td (of) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 58.15 634.10 Td (fset the cost to control certain regulated pollutant emissions by lowering costs or if NACoal's customers elect to close coal-) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 622.10 Td (fired units, the Company) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 152.21 622.10 Td (s business, financial condition and results of operations could be materially adversely af) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 503.87 622.10 Td (fected.) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 598.10 Td (Global climate change continues to attract considerable public and scientific attention and a considerable amount of legislative ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 586.10 Td (and regulatory attention in the United States. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 231.44 586.10 Td (The U.S. Congress has considered climate change legislation that would reduce ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 574.10 Td (greenhouse gas \(GHG\) emissions, particularly from coal combustion by power plants. Enactment of laws and passage of ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 562.10 Td (regulations regarding GHG emissions by the U.S. or additional states, or other actions to limit carbon dioxide emissions, such ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 550.10 Td (as opposition by environmental groups to expansion or modification of coal-fired power plants, could result in electric ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 538.10 Td (generators switching from coal to other fuel sources.) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 514.10 Td (The U.S. Congress continues to consider a variety of proposals to reduce GHG emissions from the combustion of coal and ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 502.10 Td (other fuels. ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 97.30 502.10 Td (These proposals include emission taxes, emission reductions, including carbon tax and cap-and-trade programs, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 490.10 Td (and mandates or incentives to generate electricity by using renewable resources, such as wind or solar power) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 484.57 490.10 Td (. Some states have ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 478.10 Td (established programs to reduce GHG emissions. Further) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 274.28 478.10 Td (, governmental agencies have been providing grants or other financial ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 466.10 Td (incentives to entities developing or selling alternative ener) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 283.35 466.10 Td (gy sources with lower levels of GHG emissions, which may lead to ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 454.10 Td (more competition from those entities.) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 430.10 Td (The EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 78.80 430.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 85.47 430.10 Td ( has begun to establish a GHG regulation program under the CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 349.58 430.10 Td ( by issuing a finding that the emission of six GHGs, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 418.10 Td (including carbon dioxide and methane, may reasonably be anticipated to endanger public health and welfare. Based on this ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 406.10 Td (finding, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 109.36 406.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 116.03 406.10 Td ( published a New Source Performance Standard for greenhouse gases, emitted from future new power plants. ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 394.10 Td (On June2, 2014, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 146.02 394.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 152.69 394.10 Td ( proposed new regulations limiting carbon dioxide emissions from existing power plants. On June 18, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 382.10 Td (2014, the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 100.47 382.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 107.14 382.10 Td ( also issued a proposed carbon dioxide emission regulation for reconstructed and modified power plants, which ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 370.10 Td (addresses carbon dioxide emissions limits for power plants subsequent to modification. ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 346.10 Td (In 2015, President Obama and the EP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 199.33 346.10 Td (A) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 206.00 346.10 Td ( announced the CPP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 285.72 346.10 Td (, which included final emission guidelines for states to follow in ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 334.10 Td (developing plans to reduce GHG emissions from existing fossil fuel-fired electric generating units \("EGUs"\) as well as limits ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 322.10 Td (on GHG emission rates for new) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 176.27 322.10 Td (, modified and reconstructed EGUs.Under the CPP) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 381.51 322.10 Td (, nationwide carbon dioxide emissions ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 310.10 Td (would be reduced by 32% from 2005 levels by 2030) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 259.68 310.10 Td ( with ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 282.46 310.10 Td (emissions reductions scheduled to be phased in between 2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 514.62 310.10 Td (022 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (2030.In 2016, the U.S. Supreme Court granted a stay of the CPP) Tj ET Q q 0 0 0 rg BT 310.16 298.10 Td ( pending resolution of litigation challenging the CPP) Tj ET Q q 0 0 0 rg BT 519.86 298.10 Td (. ) Tj ET Q q 0 0 0 rg BT 524.31 298.10 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (directed by Executive Order by President ) Tj ET Q q 0 0 0 rg BT 217.54 286.10 Td (T) Tj ET Q q 0 0 0 rg BT 223.30 286.10 Td (rump \(Executive Order\), on ) Tj ET Q q 0 0 0 rg BT 345.19 286.10 Td (April 4, 2017, the EP) Tj ET Q q 0 0 0 rg BT 429.27 286.10 Td (A) Tj ET Q q 0 0 0 rg BT 435.94 286.10 Td ( issued a proposed rule ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (announcing its intention to review the CPP) Tj ET Q q 0 0 0 rg BT 220.54 274.10 Td (, and, if appropriate, initiate proceedings to suspend, revise or rescind it. On ) Tj ET Q q 0 0 0 rg BT 526.02 274.10 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (21, 2018, the EP) Tj ET Q q 0 0 0 rg BT 115.47 262.10 Td (A) Tj ET Q q 0 0 0 rg BT 122.14 262.10 Td ( proposed the ) Tj ET Q q 0 0 0 rg BT 177.96 262.10 Td (Af) Tj ET Q q 0 0 0 rg BT 188.33 262.10 Td (fordable Clean Ener) Tj ET Q q 0 0 0 rg BT 268.67 262.10 Td (gy \(ACE\) rule, which would establish emission guidelines for states to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (develop plans to address GHG emissions from existing coal-fired power plants. ) Tj ET Q q 0 0 0 rg BT 370.31 250.10 Td (The ) Tj ET Q q 0 0 0 rg BT 387.80 250.10 Td (ACE rule would replace the CPP) Tj ET Q q 0 0 0 rg BT 518.61 250.10 Td (, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (the EP) Tj ET Q q 0 0 0 rg BT 75.47 238.10 Td (A) Tj ET Q q 0 0 0 rg BT 82.14 238.10 Td ( has proposed to repeal. If finalized as proposed, it is expected that the ) Tj ET Q q 0 0 0 rg BT 367.88 238.10 Td (ACE would generally require a lower level of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (emission reductions than the CPP) Tj ET Q q 0 0 0 rg BT 184.07 226.10 Td ( and provide more regulatory flexibility to individual states. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (The U.S. has not implemented the 1992 Framework Convention on Global Climate Change \(Kyoto Protocol\), which became ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 190.10 Td (fective for many countries on February16, 2005. ) Tj ET Q q 0 0 0 rg BT 256.24 190.10 Td (The Kyoto Protocol was intended to limit or reduce emissions of GHGs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (The U.S. has not ratified the emission tar) Tj ET Q q 0 0 0 rg BT 213.95 178.10 Td (gets of the Kyoto Protocol or any other GHG agreement. ) Tj ET Q q 0 0 0 rg BT 443.43 178.10 Td (Though the U.S. has not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (accepted these international GHG limiting treaties, numerous lawsuits and regulatory actions have been undertaken by states ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (and environmental groups to try to force controls on the emission of carbon dioxide; or to prevent the construction of new coal-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (fired power plants. In 2014, President Obama and Chinese President Xi Jinping jointly announced each nation's intentions to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (limit GHG emissions. ) Tj ET Q q 0 0 0 rg BT 142.32 130.10 Td (These were non-binding statements of intent. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (As a successor to the Kyoto Protocol, on December 12, 2015, international negotiators finalized the Paris ) Tj ET Q q 0 0 0 rg BT 472.95 106.10 Td (Agreement under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (United Nations Framework Convention on Climate Change \(Paris ) Tj ET Q q 0 0 0 rg BT 320.51 94.10 Td (Agreement\). Unlike the Kyoto Protocol, the Paris ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (Agreement has no binding GHG reduction mandates on signatories. Participating countries only submit a description of their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (intended GHG reductions, and provide periodic progress updates, with no penalties for not meeting their self-imposed tar) Tj ET Q q 0 0 0 rg BT 535.25 70.10 Td (gets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (The Paris ) Tj ET Q q 0 0 0 rg BT 90.00 58.10 Td (Agreement also includes language stating that developed countries will provide financial assistance to help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (developing countries meet their GHG tar) Tj ET Q q 0 0 0 rg BT 213.38 46.10 Td (gets and adapt to climate change, but there are no mandated contributions. President ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (Obama signed this as a sole executive agreement on September 3, 2016. On June 1, 2017, President ) Tj ET Q q 0 0 0 rg BT 451.11 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 456.87 742.10 Td (rump announced that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (United States will withdraw from the non-binding Paris ) Tj ET Q q 0 0 0 rg BT 274.42 730.10 Td (Agreement and begin renegotiation of its terms or establish a new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (framework agreement. ) Tj ET Q q 0 0 0 rg BT 142.83 718.10 Td (The renegotiation and implementation of the Paris ) Tj ET Q q 0 0 0 rg BT 345.83 718.10 Td (Agreement, or other international agreements, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (regulations promulgated to date by the EP) Tj ET Q q 0 0 0 rg BT 217.38 706.10 Td (A) Tj ET Q q 0 0 0 rg BT 224.05 706.10 Td ( with respect to GHG emissions or the adoption of new legislation or regulations to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (control GHG emissions, could have a materially adverse ef) Tj ET Q q 0 0 0 rg BT 286.13 694.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 372.50 694.10 Td (s business, financial condition and results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (operations. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 658.10 Td (Signific) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 81.67 658.10 Td (ant public opposition has also been raised with respect to the proposed construction of certain new coal-fueled EGUs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (due to the potential for increased air emissions. Such opposition, aswell as any corporate or investor policies against coal-fired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (EGUs or requiring disclosures related to global climate change, could also reduce the demand for NACoal) Tj ET Q q 0 0 0 rg BT 478.20 634.10 Td (s coal or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (marketability of NACCO stock. Further) Tj ET Q q 0 0 0 rg BT 209.30 622.10 Td (,policies limiting available financing for the development of new coal-fueled EGUs or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (coal mines or the retrofitting of existing EGUs could adversely impact the global demandfor coal in the future. ) Tj ET Q q 0 0 0 rg BT 497.47 610.10 Td (The potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (impact on NACoal of future laws, regulations or other policies or circumstances willdepend upon thedegree to which any such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (laws, regulations or other policies or circumstances ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 257.71 586.10 Td (force electricity generators to diminish their reliance oncoal as a fuel ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 574.10 Td (source. In view of the significant uncertainty surrounding each of these factors, it is not possible for us to predict reasonablythe ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 562.10 Td (impact that any such laws, regulations or other policies may have on NACoal) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 362.42 562.10 Td (s business, financial condition and results of ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 550.10 Td (operations. However) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 132.91 550.10 Td (, such impacts could have a material adverse ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 321.25 550.10 Td (fect on NACoal) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 387.35 550.10 Td (s business, financial condition and results ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 538.10 Td (of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 514.10 Td (The Company believes NACoal has obtained all necessary permits under the CAA) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 380.20 514.10 Td ( at all of its coal mining operations where it ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 50.00 502.10 Td (is responsible for permitting and is in compliance with such permits.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 476.7669921875 m 115.654296875 476.7669921875 l s q 0 0 0 rg BT 50.00 478.10 Td (Clean ) Tj ET Q q 0 0 0 rg BT 75.64 478.10 Td (W) Tj ET Q q 0 0 0 rg BT 84.28 478.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 101.22 478.10 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (The Clean ) Tj ET Q q 0 0 0 rg BT 93.69 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 102.33 454.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 119.26 454.10 Td (Act \("CW) Tj ET Q q 0 0 0 rg BT 158.61 454.10 Td (A"\) af) Tj ET Q q 0 0 0 rg BT 183.33 454.10 Td (fects coal mining operations by establishing in-stream water quality standards and treatment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (standards for waste water dischar) Tj ET Q q 0 0 0 rg BT 183.10 442.10 Td (ge. Permits requiring regular monitoring, reporting and performance standards govern the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (dischar) Tj ET Q q 0 0 0 rg BT 78.70 430.10 Td (ge of pollutants into water) Tj ET Q q 0 0 0 rg BT 183.12 430.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Federal and state regulations establish standards that prohibit the diminution of water quality) Tj ET Q q 0 0 0 rg BT 420.38 406.10 Td (. ) Tj ET Q q 0 0 0 rg BT 425.20 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 433.83 406.10 Td (aters dischar) Tj ET Q q 0 0 0 rg BT 483.91 406.10 Td (ged from coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (mines are required to meet these standards. ) Tj ET Q q 0 0 0 rg BT 224.76 394.10 Td (These federal and state requirements could require more costly water treatment and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (could materially adversely af) Tj ET Q q 0 0 0 rg BT 166.16 382.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 240.02 382.10 Td (s business, financial condition and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (The Company believes NACoal has obtained all permits required under the CW) Tj ET Q q 0 0 0 rg BT 369.08 358.10 Td (A) Tj ET Q q 0 0 0 rg BT 375.75 358.10 Td ( and corresponding state laws and is in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (compliance with such permits. In many instances, mining operations require securing CW) Tj ET Q q 0 0 0 rg BT 409.08 346.10 Td (A) Tj ET Q q 0 0 0 rg BT 415.75 346.10 Td ( authorization or a permit from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 69.73 334.10 Td (Army Corps of Engineers for operations in waters of the United States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Bellaire Corporation, a wholly owned non-operating subsidiary of the Company \(Bellaire\), is treating mine water drainage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (from coal refuse piles associated with two former under) Tj ET Q q 0 0 0 rg BT 273.08 298.10 Td (ground coal mines in Ohio and one former under) Tj ET Q q 0 0 0 rg BT 468.40 298.10 Td (ground coal mine in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Pennsylvania, and is treating mine water from a former under) Tj ET Q q 0 0 0 rg BT 295.85 286.10 Td (ground coal mine in Pennsylvania. Bellaire anticipates that it will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (need to continue these activities indefinitely) Tj ET Q q 0 0 0 rg BT 225.68 274.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.68 274.10 Td (See Note 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.56 274.10 Td ( to the Consolidated Financial Statements in this Form 10-K for further ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (discussion of the Company's asset retirement obligations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Bellaire was notified by the Pennsylvania Department of Environmental Protection \("DEP"\) during 2004 that in order to obtain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (renewal of a permit, Bellaire would be required to establish a mine water treatment trust \(the "T) Tj ET Q q 0 0 0 rg BT 432.76 226.10 Td (rust"\). Prior to 2014, Bellaire ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (funded the ) Tj ET Q q 0 0 0 rg BT 94.80 214.10 Td (T) Tj ET Q q 0 0 0 rg BT 100.56 214.10 Td (rust with $5.0 million. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.23 214.10 Td (See Note 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.11 214.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.55 214.10 Td (Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.49 214.10 Td ( to the Consolidated Financial Statements in this Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (further information on the ) Tj ET Q q 0 0 0 rg BT 156.46 202.10 Td (T) Tj ET Q q 0 0 0 rg BT 162.21 202.10 Td (rust.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 176.76699218750002 m 217.1728515625 176.76699218750002 l s q 0 0 0 rg BT 50.00 178.10 Td (Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 202.73 178.10 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (The Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 220.78 160.10 Td (Act \("RCRA"\) af) Tj ET Q q 0 0 0 rg BT 289.86 160.10 Td (fects coal mining operations by establishing requirements for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (treatment, storage and disposal of wastes, including hazardous wastes. Coal mine wastes, such as overburden and coal cleaning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (wastes, currently are exempted from hazardous waste management. In December 2014, the EP) Tj ET Q q 0 0 0 rg BT 427.55 136.10 Td (A) Tj ET Q q 0 0 0 rg BT 434.22 136.10 Td ( finalized a rule specifying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (management standards for coal combustion residuals or coal ash \("CCRs"\) as a non-hazardous waste. In 2018, the EP) Tj ET Q q 0 0 0 rg BT 519.63 124.10 Td (A) Tj ET Q q 0 0 0 rg BT 526.30 124.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (finalized revisions to the 2014 regulations in response to litigation of the 2014 rule. One revision allows a state director \(in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (state with an approved CCR permit program\) or the EP) Tj ET Q q 0 0 0 rg BT 269.87 100.10 Td (A) Tj ET Q q 0 0 0 rg BT 276.54 100.10 Td ( \(where EP) Tj ET Q q 0 0 0 rg BT 320.05 100.10 Td (A) Tj ET Q q 0 0 0 rg BT 326.72 100.10 Td ( is the permitting authority\) to suspend groundwater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (monitoring requirements if there is evidence that there is no potential for migration of hazardous constituents to the uppermost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (aquifer during the active life of the unit and post closure care. ) Tj ET Q q 0 0 0 rg BT 298.89 76.10 Td (The second revision allows issuance of technical certifications in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (lieu of a professional engineer) Tj ET Q q 0 0 0 rg BT 170.51 64.10 Td (. In addition, the EP) Tj ET Q q 0 0 0 rg BT 249.58 64.10 Td (A) Tj ET Q q 0 0 0 rg BT 256.25 64.10 Td ( revised the groundwater protection standards and extended the deadline for ) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (some facilities that must close CCR units. ) Tj ET Q q 0 0 0 rg BT 219.80 742.10 Td (These standards may raise the cost for CCR disposal at coal-fired power plants, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (making them less competitive, and may have an adverse impact on demand for coal. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.10 Td (The EP) Tj ET Q q 0 0 0 rg BT 78.80 712.10 Td (A) Tj ET Q q 0 0 0 rg BT 85.47 712.10 Td ( rule exempts CCRs disposed of at mine sites and reserves any regulation thereof to the OSM. ) Tj ET Q q 0 0 0 rg BT 463.54 712.10 Td (The OSM recently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (suspended all rulemaking actions on CCRs, but could re-initiate them in the future. ) Tj ET Q q 0 0 0 rg BT 384.47 700.10 Td (The outcome of these rulemakings, and any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (subsequent actions by EP) Tj ET Q q 0 0 0 rg BT 151.02 688.10 Td (A) Tj ET Q q 0 0 0 rg BT 157.69 688.10 Td ( and OSM, could impact those NACoal operations that beneficially use CCRs. If NACoal were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (unable to beneficially use CCRs, its revenues for disposing of CCRs from its customers may decrease and its costs may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (increase due to the purchase of alternative materials for beneficial uses. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 638.7669921875 m 348.5595703125 638.7669921875 l s q 0 0 0 rg BT 50.00 640.10 Td (Comprehensive Environmental Response, Compensation and Liability ) Tj ET Q q 0 0 0 rg BT 334.12 640.10 Td (Act) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (The Comprehensive Environmental Response, Compensation and Liability ) Tj ET Q q 0 0 0 rg BT 352.17 622.10 Td (Act \("CERCLA"\) and similar state laws create ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (liabilities for the investigation and remediation of releases of hazardous substances into the environment and for damages to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (natural resources. ) Tj ET Q q 0 0 0 rg BT 122.84 598.10 Td (The Company must also comply with reporting requirements under the Emer) Tj ET Q q 0 0 0 rg BT 430.92 598.10 Td (gency Planning and Community ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Right-to-Know ) Tj ET Q q 0 0 0 rg BT 113.06 586.10 Td (Act and the ) Tj ET Q q 0 0 0 rg BT 161.47 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 166.88 586.10 Td (oxic Substances Control ) Tj ET Q q 0 0 0 rg BT 266.04 586.10 Td (Act.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (From time to time, the Company has been the subject of administrative proceedings, litigation and investigations relating to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (environmental matters.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (The extent of the liability and the cost of complying with environmental laws cannot be predicted with certainty due to many ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (factors, including the lack of specific information available with respect to many sites, the potential for new or changed laws ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (and regulations, the development of new remediation technologies and the uncertainty regarding the timing of work with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (respect to particular sites. ) Tj ET Q q 0 0 0 rg BT 154.13 502.10 Td (As a result, the Company may incur material liabilities or costs related to environmental matters in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (the future, and such environmental liabilities or costs could materially and adversely af) Tj ET Q q 0 0 0 rg BT 397.76 490.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 471.63 490.10 Td (s results of operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (and financial condition. In addition, there can be no assurance that changes in laws or regulations would not af) Tj ET Q q 0 0 0 rg BT 491.90 478.10 Td (fect the manner ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (in which NACoal is required to conduct its operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Item1A. RISK F) Tj ET Q q 0 0 0 rg BT 122.03 442.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 142.96 442.10 Td (ORS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 421.10 Td (ermination of or) Tj ET Q q 0 0 0 rg BT 125.56 421.10 Td ( default under) Tj ET Q q 0 0 0 rg BT 185.94 421.10 Td ( long-term mining contracts could materially r) Tj ET Q q 0 0 0 rg BT 384.05 421.10 Td (educe the Company's pr) Tj ET Q q 0 0 0 rg BT 487.49 421.10 Td (ofitability) Tj ET Q q 0 0 0 rg BT 528.60 421.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (Substantially all of NACoal's profits are derived from long-term mining contracts. ) Tj ET Q q 0 0 0 rg BT 380.99 400.10 Td (The contracts for certain of NACoal's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (unconsolidated mines permit or obligate the customer under some conditions to acquire the assets or stock of the NACoal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (subsidiary for an amount roughly equal to book value. If any of NACoal's long-term mining contracts were terminated or if any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (of its customers were to default under material contracts, profitability could be materially reduced to the extent that NACoal is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (unable to find alternative customers at the same level of profitability) Tj ET Q q 0 0 0 rg BT 323.15 352.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 331.10 Td (The loss of, or) Tj ET Q q 0 0 0 rg BT 109.82 331.10 Td ( significant r) Tj ET Q q 0 0 0 rg BT 163.53 331.10 Td (eduction in, pur) Tj ET Q q 0 0 0 rg BT 231.42 331.10 Td (chases by our) Tj ET Q q 0 0 0 rg BT 289.02 331.10 Td ( largest coal customers or) Tj ET Q q 0 0 0 rg BT 397.69 331.10 Td ( the failur) Tj ET Q q 0 0 0 rg BT 439.73 331.10 Td (e of any of our) Tj ET Q q 0 0 0 rg BT 501.21 331.10 Td ( customers to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (buy and pay for) Tj ET Q q 0 0 0 rg BT 117.90 319.10 Td ( coal they have committed to pur) Tj ET Q q 0 0 0 rg BT 257.69 319.10 Td (chase could adversely affect our) Tj ET Q q 0 0 0 rg BT 393.59 319.10 Td ( business, financial condition, r) Tj ET Q q 0 0 0 rg BT 525.66 319.10 Td (esults of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (operation and cash flows.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (For the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.19 286.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.78 286.10 Td (, NACoal derived over 75% of consolidated revenue from two customers and over 55% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (of earnings of unconsolidated operations from two customers. ) Tj ET Q q 0 0 0 rg BT 300.04 274.10 Td (There are inherent risks whenever a significant percentage of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (total revenues are concentrated with a limited number of customers. Revenues from NACoal's lar) Tj ET Q q 0 0 0 rg BT 439.27 262.10 Td (gest customers may fluctuate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (from time to time based on numerous factors, including market conditions, which may be outside of NACoal's control. If any of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (NACoal's lar) Tj ET Q q 0 0 0 rg BT 101.89 238.10 Td (gest customers experience declining revenues due to market, economic or competitive conditions, it could have an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (adverse ef) Tj ET Q q 0 0 0 rg BT 90.63 226.10 Td (fect on the Company's mar) Tj ET Q q 0 0 0 rg BT 197.77 226.10 Td (gins, profitability) Tj ET Q q 0 0 0 rg BT 266.56 226.10 Td (, cash flows and financial position. In addition, if any customers were to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (significantly reduce their purchases of coal from us, including by failing to buy and pay for coal they have committed to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (purchase in sales contracts, NACoal's business, financial condition, results of operations and cash flows could be adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 190.10 Td (fected. During 2017, NACoal's unconsolidated Liberty Mine was placed in cessation due to its customer's decision to suspend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (operations of its coal gasifier and, in 2018, Liberty permanently ceased all mining and delivery of lignite and commenced mine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (reclamation. ) Tj ET Q q 0 0 0 rg BT 102.02 166.10 Td (The customer's decision to close the mine did not negatively impact NACCO's earnings for Liberty in 2018, but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (does unfavorably af) Tj ET Q q 0 0 0 rg BT 129.23 154.10 Td (fect its long-term earning potential from this mine. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 133.10 Td (NACoal's unconsolidated mining operations ar) Tj ET Q q 0 0 0 rg BT 249.84 133.10 Td (e subject to risks cr) Tj ET Q q 0 0 0 rg BT 332.42 133.10 Td (eated by changes in customer) Tj ET Q q 0 0 0 rg BT 457.23 133.10 Td ( demand, inflationary ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 121.10 Td (adjustments and tax changes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (The contracts with the unconsolidated mining operations) Tj ET Q q 0 0 0 rg BT 279.76 100.10 Td ( customers are primarily based on a "management fee" approach, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (whereby compensation includes reimbursement of all operating costs, plus a fee based on the amount of coal or limestone ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (delivered. ) Tj ET Q q 0 0 0 rg BT 92.02 76.10 Td (The fees earned adjust over time in line with various indices which reflect general U.S. inflation rates. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (production stage, the unconsolidated mines' customers pay the Company its agreed upon fee only for the coal or limestone ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.10 Td (delivered to them for consumption or use. ) Tj ET Q q 0 0 0 rg BT 219.41 52.10 Td (As a result, reduced coal or limestone usage by customers for any reason, including, ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (but not limited to, fluctuations in demand due to unanticipated weather conditions, scheduled and unscheduled outages at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (NACoal's customers' facilities, unplanned equipment failures, economic conditions or governmental regulations or comparable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (policies which may promote dispatch of power generated by renewables, such as wind or solar) Tj ET Q q 0 0 0 rg BT 428.10 718.10 Td (, could have a material adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 706.10 Td (fect on the Company's results of operations. Because of the contractual price formulas for the management fees at these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (unconsolidated mining operations, the profitability of these operations is also subject to fluctuations in inflationary adjustments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (\(or lack thereof\) that can impact the agreed upon management fees and taxes applicable to NACoal's income on those fees. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (addition, any unfavorable changes in tax laws for mining companies would have a material adverse ef) Tj ET Q q 0 0 0 rg BT 457.46 670.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 540.40 670.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (These factors could materially reduce NACoal's profitability) Tj ET Q q 0 0 0 rg BT 291.63 658.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 637.10 Td (NACoal) Tj ET Q q 0 0 0 rg BT 87.40 637.10 Td (s consolidated mining operations ar) Tj ET Q q 0 0 0 rg BT 238.90 637.10 Td (e subject to risks associated with its capital investment, operating and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 625.10 Td (equipment costs, gr) Tj ET Q q 0 0 0 rg BT 132.87 625.10 Td (owing use of alternative generation that competes with coal fir) Tj ET Q q 0 0 0 rg BT 397.92 625.10 Td (ed generation, changes in customer) Tj ET Q q 0 0 0 rg BT 547.45 625.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 613.10 Td (demand, inflationary adjustments and tax changes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (The profitability of the consolidated mining operations is subject to the risk of loss of investment in these operations, changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (in demand from customers, increases in the cost of mining and growing competition from alternative generation that competes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (with coal-fired generation. ) Tj ET Q q 0 0 0 rg BT 158.29 568.10 Td (At MLMC, the costs of mining operations are not reimbursed by MLMC's customer) Tj ET Q q 0 0 0 rg BT 494.22 568.10 Td (. ) Tj ET Q q 0 0 0 rg BT 498.67 568.10 Td (As such, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (increased costs at MLMC or decreased revenues could materially reduce NACoal's profitability) Tj ET Q q 0 0 0 rg BT 431.86 556.10 Td (. ) Tj ET Q q 0 0 0 rg BT 438.80 556.10 Td (Any long-term reduction in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (customer demand at MLMC would adversely af) Tj ET Q q 0 0 0 rg BT 241.99 544.10 Td (fect NACoal's operating results and liquidity and could result in significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (impairments. In addition, MLMC sells lignite at contractually agreed upon prices which are subject to changes in the level of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (established indices over time. ) Tj ET Q q 0 0 0 rg BT 173.12 520.10 Td (The price of diesel fuel is heavily-weighted among these indices. ) Tj ET Q q 0 0 0 rg BT 437.48 520.10 Td (As such, a substantial decline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (in diesel prices could materially reduce NACoal's profitability) Tj ET Q q 0 0 0 rg BT 298.02 508.10 Td (, as the decline in revenue will only be partially of) Tj ET Q q 0 0 0 rg BT 498.61 508.10 Td (fset by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 496.10 Td (fect of lower diesel prices on production costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (NACoal's consolidated operations are subject to changes in customer demand for any reason, including, but not limited to, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (fluctuations in demand due to unanticipated weather conditions, fluctuations in the construction industry that impact demand ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (for aggregates, the emer) Tj ET Q q 0 0 0 rg BT 146.44 451.10 Td (gence of unidentified adverse mining conditions, availability of alternative ener) Tj ET Q q 0 0 0 rg BT 464.48 451.10 Td (gy sources such as wind ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.10 Td (power or natural gas at reduced prices making coal-fueled generation less competitive with wind power or natural gas-fueled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.10 Td (generation, regulations or comparable policies which may promote dispatch of power generated by renewables such as wind or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.10 Td (solar ahead of coal, planned and unplanned outages at NACoal's customers' facilities, economic conditions, including economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 403.10 Td (conditions that adversely af) Tj ET Q q 0 0 0 rg BT 160.06 403.10 Td (fect demand for coal and limestone, governmental regulations, inflationary adjustments and tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 391.10 Td (risks. In addition, any unfavorable changes in tax laws for mining companies would have a material adverse ef) Tj ET Q q 0 0 0 rg BT 492.18 391.10 Td (fect on NACoal's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 379.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 97.12 379.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Mining operations ar) Tj ET Q q 0 0 0 rg BT 140.38 358.10 Td (e vulnerable to weather) Tj ET Q q 0 0 0 rg BT 240.45 358.10 Td ( and other) Tj ET Q q 0 0 0 rg BT 284.16 358.10 Td ( conditions that ar) Tj ET Q q 0 0 0 rg BT 362.04 358.10 Td (e beyond NACoal's contr) Tj ET Q q 0 0 0 rg BT 468.80 358.10 Td (ol.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.10 Td (Many conditions beyond NACoal's control can decrease the delivery) Tj ET Q q 0 0 0 rg BT 324.40 337.10 Td (, and therefore the use, of coal to NACoal's customers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.10 Td (These conditions include weather) Tj ET Q q 0 0 0 rg BT 183.72 325.10 Td (, adverse mining conditions, availability of alternative fuels such as wind power and natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.10 Td (gas at reduced prices making coal-fueled generation less competitive, unexpected maintenance problems and shortages of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (replacement parts, which could significantly reduce the Company's profitability) Tj ET Q q 0 0 0 rg BT 368.00 301.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (Government r) Tj ET Q q 0 0 0 rg BT 110.63 280.10 Td (egulations could impose costly r) Tj ET Q q 0 0 0 rg BT 246.01 280.10 Td (equir) Tj ET Q q 0 0 0 rg BT 268.61 280.10 Td (ements on NACoal and its customers.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.10 Td (The coal mining industry and the electric generation industry are subject to extensive regulation by federal, state and local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (authorities on matters concerning the health and safety of employees, land use, permit and licensing requirements, air and water ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (quality standards, plant and wildlife protection, reclamation and restoration of mining properties after mining, the dischar) Tj ET Q q 0 0 0 rg BT 535.23 235.10 Td (ge of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 223.10 Td (GHGs and other materials into the environment, surface subsidence from under) Tj ET Q q 0 0 0 rg BT 367.78 223.10 Td (ground mining and the ef) Tj ET Q q 0 0 0 rg BT 468.69 223.10 Td (fects that mining has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (on groundwater quality and availability) Tj ET Q q 0 0 0 rg BT 207.08 211.10 Td (. Legislation mandating certain benefits for current and retired coal miners also af) Tj ET Q q 0 0 0 rg BT 533.72 211.10 Td (fects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (the industry) Tj ET Q q 0 0 0 rg BT 96.85 199.10 Td (. Mining operations require numerous governmental permits and approvals. NACoal is required to prepare and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 187.10 Td (present to federal, state or local authorities data pertaining to the impact the production and combustion of coal may have upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 175.10 Td (the environment. ) Tj ET Q q 0 0 0 rg BT 120.08 175.10 Td (The public, including non-governmental or) Tj ET Q q 0 0 0 rg BT 292.35 175.10 Td (ganizations, opposition groups and individuals, have statutory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 163.10 Td (rights to comment upon and submit objections to requested permits and approvals and to legally challenge certain permits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.10 Td (subsequent to their issuance. Compliance with these requirements is costly and time-consuming and may delay commencement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.10 Td (or continuation of development or production. New legislation and/or regulations and orders may materially adversely af) Tj ET Q q 0 0 0 rg BT 536.06 139.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.10 Td (NACoal's mining operations or its cost structure, or its customers. ) Tj ET Q q 0 0 0 rg BT 315.66 127.10 Td (All of these factors could significantly reduce the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 115.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 97.12 115.10 Td (. See Item1. Business North ) Tj ET Q q 0 0 0 rg BT 232.66 115.10 Td (American Coal Government Regulation" on page 12 in this Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (further discussion.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (NACoal is subject to burdensome federal and state mining r) Tj ET Q q 0 0 0 rg BT 305.64 742.25 Td (egulations and the assumptions underlying the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (r) Tj ET Q q 0 0 0 rg BT 54.26 730.25 Td (eclamation and mine closur) Tj ET Q q 0 0 0 rg BT 171.57 730.25 Td (e obligations could be materially inaccurate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 709.25 Td (Federal and state statutes require NACoal to restore mine property in accordance with specified standards and an approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (reclamation plan, and require that NACoal obtain and periodically renew permits for mining operations. Regulations require ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (NACoal to incur the cost of reclaiming current mine disturbance at operations where NACoal holds the mining permit. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 50.00 673.25 Td (Estimates of the Company's total reclamation and mine closing liabilities are based upon permit requirements and NACoal's ) Tj ET Q BT /F1 10.00 Tf ET q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 50.00 661.25 Td (engineering expertise related to these requirements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.3607843137254902 0.3607843137254902 0.3607843137254902 rg BT 253.53 661.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 258.34 661.25 Td (While management regularly reviews the estimated reclamation liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 50.00 649.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 66.94 649.25 Td (believes that appropriate accruals have been recorded for all expected reclamation and other costs associated with closed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 637.25 Td (mines) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 73.89 637.25 Td (, the estimate can change ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.29411764705882354 0.29411764705882354 0.29411764705882354 rg BT 176.62 637.25 Td (significantly ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 229.11 637.25 Td (if actual costs vary from assumptions or if governmental regulations change ) Tj ET Q BT /F1 10.00 Tf ET q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 50.00 625.25 Td (significantly) Tj ET Q q 0.2235294117647059 0.2235294117647059 0.2235294117647059 rg BT 99.34 625.25 Td (. Such changes ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 161.55 625.25 Td (could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 290.46 625.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 376.83 625.25 Td (s business and could significantly reduce its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.25 Td (profitability) Tj ET Q q 0 0 0 rg BT 97.12 613.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (The Clean ) Tj ET Q q 0 0 0 rg BT 96.12 592.25 Td (Air) Tj ET Q q 0 0 0 rg BT 110.38 592.25 Td ( ) Tj ET Q q 0 0 0 rg BT 112.32 592.25 Td (Act and Clean Power) Tj ET Q q 0 0 0 rg BT 202.96 592.25 Td ( Plan could r) Tj ET Q q 0 0 0 rg BT 257.51 592.25 Td (educe the demand for) Tj ET Q q 0 0 0 rg BT 349.82 592.25 Td ( coal. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 571.25 Td (The process of burning coal can cause many compounds and impurities in the coal to be released into the air) Tj ET Q q 0 0 0 rg BT 483.07 571.25 Td (, including carbon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (dioxide, sulfur dioxide, nitrogen oxides, mercury) Tj ET Q q 0 0 0 rg BT 245.42 559.25 Td (, particulates and other matter) Tj ET Q q 0 0 0 rg BT 363.98 559.25 Td (. ) Tj ET Q q 0 0 0 rg BT 368.80 559.25 Td (The CAA, CPP) Tj ET Q q 0 0 0 rg BT 430.39 559.25 Td ( and the corresponding state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (laws that extensively regulate the emissions of materials into the air af) Tj ET Q q 0 0 0 rg BT 331.12 547.25 Td (fect coal mining operations both directly and indirectly) Tj ET Q q 0 0 0 rg BT 550.68 547.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 535.25 Td (Direct impacts on coal mining operations occur through CAA) Tj ET Q q 0 0 0 rg BT 296.61 535.25 Td ( permitting requirements and/or CPP) Tj ET Q q 0 0 0 rg BT 443.44 535.25 Td ( emission control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 523.25 Td (requirements relating to air contaminants, especially particulate matter) Tj ET Q q 0 0 0 rg BT 331.56 523.25 Td (. Indirect impacts on coal mining operations occur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 511.25 Td (through regulation of the air emissions of carbon dioxide, sulfur dioxide, nitrogen oxides, mercury) Tj ET Q q 0 0 0 rg BT 443.15 511.25 Td (, particulate matter and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 499.25 Td (compounds emitted by coal-fired power plants. ) Tj ET Q q 0 0 0 rg BT 241.16 499.25 Td (The EP) Tj ET Q q 0 0 0 rg BT 269.96 499.25 Td (A) Tj ET Q q 0 0 0 rg BT 276.63 499.25 Td ( has promulgated or proposed regulations that impose tighter emission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 487.25 Td (restrictions on a number of these compounds, some of which are currently subject to litigation. ) Tj ET Q q 0 0 0 rg BT 431.11 487.25 Td (The general ef) Tj ET Q q 0 0 0 rg BT 488.67 487.25 Td (fect of tighter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.25 Td (restrictions is to reduce demand for coal. ) Tj ET Q q 0 0 0 rg BT 214.95 475.25 Td (A) Tj ET Q q 0 0 0 rg BT 221.62 475.25 Td ( reduction in coal) Tj ET Q q 0 0 0 rg BT 294.09 475.25 Td (s share of the capacity for power generation could have a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.25 Td (adverse ef) Tj ET Q q 0 0 0 rg BT 90.63 463.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 176.99 463.25 Td (s business, financial condition and results of operations. See Item1. Business North ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.25 Td (American Coal Government Regulation" on page 12 in this Form 10-K for further discussion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (NACoal is subject to the high costs and risks involved in the development of new mining pr) Tj ET Q q 0 0 0 rg BT 437.07 430.25 Td (ojects.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.25 Td (From time to time, NACoal seeks to develop new mining projects. ) Tj ET Q q 0 0 0 rg BT 318.39 409.25 Td (The costs and risks associated with such projects can be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.25 Td (substantial. In addition, any changes in tax laws that eliminate the expensing of exploration and development costs will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 385.25 Td (increase the after) Tj ET Q q 0 0 0 rg BT 118.09 385.25 Td (-tax cost of building a mine and make the cost of coal less competitive with other power) Tj ET Q q 0 0 0 rg BT 470.57 385.25 Td (-generation fuels.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (Estimates of NACoal's r) Tj ET Q q 0 0 0 rg BT 152.86 364.25 Td (ecoverable coal r) Tj ET Q q 0 0 0 rg BT 224.87 364.25 Td (eserves involve uncertainties, and inaccuracies in these estimates could r) Tj ET Q q 0 0 0 rg BT 532.42 364.25 Td (esult ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (in lower) Tj ET Q q 0 0 0 rg BT 84.54 352.25 Td ( than expected r) Tj ET Q q 0 0 0 rg BT 152.95 352.25 Td (evenues, higher) Tj ET Q q 0 0 0 rg BT 218.88 352.25 Td ( than expected costs, decr) Tj ET Q q 0 0 0 rg BT 327.29 352.25 Td (eased pr) Tj ET Q q 0 0 0 rg BT 362.94 352.25 Td (ofitability and asset impairments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 331.25 Td (NACoal estimates recoverable coal reserves based on engineering and geological data assembled and analyzed by internal and, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (less frequently) Tj ET Q q 0 0 0 rg BT 107.94 319.25 Td (, external engineers and geologists. NACoal's estimates as to the quantity and quality of the coal in its reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (are updated annually to reflect production of coal from the reserves and new drilling, engineering or other data. ) Tj ET Q q 0 0 0 rg BT 497.43 307.25 Td (These estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (depend upon a variety of factors and assumptions, many of which involve uncertainties and factors beyond NACoal's control, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (such as geological and mining conditions that may not be fully identified by available exploration data or that may dif) Tj ET Q q 0 0 0 rg BT 521.64 283.25 Td (fer from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.25 Td (experience in current operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (For these reasons, estimates of the recoverable quantities and qualities attributable to any particular group of properties, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (classifications of reserves based on risk of recovery and estimates of net cash flows expected from particular reserves may vary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (substantially) Tj ET Q q 0 0 0 rg BT 99.90 226.25 Td (. In addition, coal tonnage recovered from identified reserve areas or properties and revenues and expenditures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (with respect to NACoal's reserves may vary materially from estimates. ) Tj ET Q q 0 0 0 rg BT 334.78 214.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 384.11 214.25 Td (, NACoal's estimates may vary from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (actual reserves. ) Tj ET Q q 0 0 0 rg BT 113.58 202.25 Td (Any inaccuracy in the reserve estimates could result in lower than expected revenues, higher than expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (costs, decreased profitability and asset impairments. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 172.25 Td ( defect in title or) Tj ET Q q 0 0 0 rg BT 126.46 172.25 Td ( the loss of a leasehold inter) Tj ET Q q 0 0 0 rg BT 243.50 172.25 Td (est in certain pr) Tj ET Q q 0 0 0 rg BT 310.80 172.25 Td (operty could limit NACoal's ability to mine coal r) Tj ET Q q 0 0 0 rg BT 521.16 172.25 Td (eserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (or) Tj ET Q q 0 0 0 rg BT 59.26 160.25 Td ( r) Tj ET Q q 0 0 0 rg BT 66.02 160.25 Td (esult in significant unanticipated costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (NACoal conducts a significant part of its coal mining operations on leased properties. ) Tj ET Q q 0 0 0 rg BT 394.92 142.25 Td (A) Tj ET Q q 0 0 0 rg BT 401.59 142.25 Td ( title defect or the loss of a lease could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (adversely af) Tj ET Q q 0 0 0 rg BT 98.40 130.25 Td (fect the ability to mine the associated coal reserves. NACoal may not verify title to leased properties or associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (coal reserves until the Company has committed to developing those properties or coal reserves. NACoal may not commit to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (develop property or coal reserves until the Company has obtained necessary permits and completed exploration. ) Tj ET Q q 0 0 0 rg BT 500.42 106.25 Td (As such, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (title to property that the Company intends to lease or mine may contain defects prohibiting the ability to conduct mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (operations. Similarly) Tj ET Q q 0 0 0 rg BT 133.23 82.25 Td (, leasehold interests may be subject to superior property rights of third parties. In order to conduct mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.25 Td (operations on properties where these defects exist, NACoal may incur unanticipated costs. In addition, some leases require the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (Company to produce a minimum quantity of coal and/or pay minimum production royalties. NACoal's inability to satisfy those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (requirements may cause the leasehold interest to terminate.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (NACoal has no contr) Tj ET Q q 0 0 0 rg BT 139.55 730.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 168.52 730.25 Td ( the timing of the development and operation of its natural gas, oil and coal r) Tj ET Q q 0 0 0 rg BT 495.00 730.25 Td (eserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (extracted by third parties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (NACoal is not a natural gas and oil producer) Tj ET Q q 0 0 0 rg BT 228.29 700.25 Td (. NACoal owns mineral interests and royalty interests in seven states in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (continental United States. NACoal derives income from royalty-based leases under which the lessee makes payments to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Company based on the sale of natural gas and, to a lesser extent, oil and coal. In recent years, a significant portion of NACoal) Tj ET Q q 0 0 0 rg BT 555.68 676.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (royalty income has been derived from lease signing bonus and production payments associated with NACoal assets in the Utica ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (Shale in Ohio and future royalty-based income is dependent on the number of gas wells being developed and operated on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Company) Tj ET Q q 0 0 0 rg BT 91.67 640.25 Td (s mineral acreage in Ohio. ) Tj ET Q q 0 0 0 rg BT 201.72 640.25 Td (The decision to pursue development and operation of oil and gas wells is made by third-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (party operators, not by NACoal, and depends on a number of factors outside of the Company's control, including fluctuations in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (commodity prices \(primarily natural gas\), regulatory risk, the Company's lessees' willingness and ability to incur well-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (development and other operating costs, and changes in the availability and continuing development of infrastructure.Lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (commodity prices may reduce the amount of oil and natural gas that third-party operators can produce economically) Tj ET Q q 0 0 0 rg BT 514.19 592.25 Td (. Producing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (oil and natural gas wells generally are characterized by declining production rates that vary depending upon reservoir ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (characteristics and other factors. In addition, the rate of production from the Company) Tj ET Q q 0 0 0 rg BT 397.66 568.25 Td (s oil and gas interests will decline as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (reserves are depleted. ) Tj ET Q q 0 0 0 rg BT 138.29 556.25 Td (Any of these risks could materially reduce the Company) Tj ET Q q 0 0 0 rg BT 366.56 556.25 Td (s expected royalty income and the Company) Tj ET Q q 0 0 0 rg BT 547.06 556.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (profitability) Tj ET Q q 0 0 0 rg BT 97.12 544.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (The Company has experienced gr) Tj ET Q q 0 0 0 rg BT 193.15 526.25 Td (owth in its NAM business in r) Tj ET Q q 0 0 0 rg BT 319.66 526.25 Td (ecent periods and it may not be able to sustain or) Tj ET Q q 0 0 0 rg BT 528.37 526.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (manage futur) Tj ET Q q 0 0 0 rg BT 107.87 514.25 Td (e gr) Tj ET Q q 0 0 0 rg BT 124.07 514.25 Td (owth effectively) Tj ET Q q 0 0 0 rg BT 190.43 514.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (The Company has expanded its overall NAM business, operations and headcount in recent periods. NAM) Tj ET Q q 0 0 0 rg BT 475.46 496.25 Td (s operating expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (may increase as the Company scales the NAM business, including in expanding sales and marketing capabilities outside of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (Florida and in providing general and administrative resources to support NAM) Tj ET Q q 0 0 0 rg BT 367.71 472.25 Td (s growth. ) Tj ET Q q 0 0 0 rg BT 406.88 472.25 Td (As NACoal continues to grow the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (NAM business, the Company must ef) Tj ET Q q 0 0 0 rg BT 200.37 460.25 Td (fectively integrate, develop and motivate new employees, as well as existing employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (who are promoted or moved into new roles, while maintaining the ef) Tj ET Q q 0 0 0 rg BT 324.75 448.25 Td (fectiveness of its business execution. In part, NAM) Tj ET Q q 0 0 0 rg BT 532.20 448.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (success depends on its ability to integrate new customers in an ef) Tj ET Q q 0 0 0 rg BT 310.03 436.25 Td (ficient and ef) Tj ET Q q 0 0 0 rg BT 362.60 436.25 Td (fective manner) Tj ET Q q 0 0 0 rg BT 421.73 436.25 Td (. ) Tj ET Q q 0 0 0 rg BT 426.55 436.25 Td (The Company may incur costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (and capital expenditures associated with future growth prior to realizing the anticipated benefits, and the return on these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (investments may be lower) Tj ET Q q 0 0 0 rg BT 154.30 412.25 Td (, may develop more slowly than expected or may never be realized. If the Company is unable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (manage this growth ef) Tj ET Q q 0 0 0 rg BT 138.96 400.25 Td (fectively) Tj ET Q q 0 0 0 rg BT 173.29 400.25 Td (, the Company may not be able to take advantage of market opportunities. ) Tj ET Q q 0 0 0 rg BT 471.64 400.25 Td (The Company may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (also fail to execute on its business plan or respond to competitive pressures, any of which could adversely af) Tj ET Q q 0 0 0 rg BT 483.32 388.25 Td (fect the NAM ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (business, operating results and financial condition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (The Company is dependent on key personnel and the loss of these key personnel could significantly r) Tj ET Q q 0 0 0 rg BT 478.20 358.25 Td (educe its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (pr) Tj ET Q q 0 0 0 rg BT 59.82 346.25 Td (ofitability) Tj ET Q q 0 0 0 rg BT 100.93 346.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (The Company is highly dependent on the skills, experience and services of its key personnel and the loss of key personnel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 178.92 316.25 Td (fect on its business, operating results and financial condition. Employment and retention of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (qualified personnel is important to the successful conduct of the Company's business. ) Tj ET Q q 0 0 0 rg BT 394.06 304.25 Td (Therefore, the Company's success also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (depends upon its ability to recruit, hire, train and retain skilled and experienced management personnel. ) Tj ET Q q 0 0 0 rg BT 466.90 292.25 Td (The Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (inability to hire and retain personnel with the requisite skills could impair its ability to manage and operate its business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 268.25 Td (fectively and could significantly reduce its profitability) Tj ET Q q 0 0 0 rg BT 277.43 268.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (The amount and fr) Tj ET Q q 0 0 0 rg BT 130.66 250.25 Td (equency of dividend payments made on NACCO's common stock could change.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (The Board of Directors has the power to determine the amount and frequency of the payment of dividends. Decisions regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (whether or not to pay dividends and the amount of any dividends are based on earnings, capital and future expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (requirements, financial conditions, contractual limitations and other factors the Board of Directors may consider) Tj ET Q q 0 0 0 rg BT 498.47 208.25 Td (. ) Tj ET Q q 0 0 0 rg BT 502.92 208.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 552.26 208.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (holders of NACCO's common stock should not rely on past payments of dividends in a particular amount as an indication of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (the amount of dividends that will be paid in the future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (NACCO is a smaller) Tj ET Q q 0 0 0 rg BT 137.31 160.25 Td ( r) Tj ET Q q 0 0 0 rg BT 144.07 160.25 Td (eporting company and cannot be certain if the r) Tj ET Q q 0 0 0 rg BT 347.76 160.25 Td (educed disclosur) Tj ET Q q 0 0 0 rg BT 418.42 160.25 Td (e r) Tj ET Q q 0 0 0 rg BT 429.62 160.25 Td (equir) Tj ET Q q 0 0 0 rg BT 452.22 160.25 Td (ements applicable to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (smaller) Tj ET Q q 0 0 0 rg BT 81.47 148.25 Td ( r) Tj ET Q q 0 0 0 rg BT 88.23 148.25 Td (eporting companies will make the Company's common stock less attractive to investors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (The Company is currently a smaller reporting company as defined in the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 434.87 130.25 Td (Act of 1934, and thus allowed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (to provide simplified executive compensation disclosures and other decreased disclosure in SEC filings. ) Tj ET Q q 0 0 0 rg BT 468.61 118.25 Td (The reduced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (disclosures may make it more dif) Tj ET Q q 0 0 0 rg BT 182.84 106.25 Td (ficult to compare the Company's performance with other public companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (NACCO cannot predict whether investors will find our common stock less attractive because of these exemptions. If some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (investors find NACCO's common stock less attractive as a result, there may be a less active trading market for the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (common stock and the stock price may be more volatile.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 113.80 742.25 Td (s business could suffer) Tj ET Q q 0 0 0 rg BT 208.92 742.25 Td ( if NACCO) Tj ET Q q 0 0 0 rg BT 259.65 742.25 Td (s information technology systems ar) Tj ET Q q 0 0 0 rg BT 412.79 742.25 Td (e disrupted, cease to operate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (effectively or) Tj ET Q q 0 0 0 rg BT 105.06 730.25 Td ( if the Company experiences a security br) Tj ET Q q 0 0 0 rg BT 281.79 730.25 Td (each, a cyber) Tj ET Q q 0 0 0 rg BT 337.43 730.25 Td ( incident or) Tj ET Q q 0 0 0 rg BT 386.13 730.25 Td ( cyber) Tj ET Q q 0 0 0 rg BT 412.33 730.25 Td ( attack.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (The Company relies heavily on information technology systems to operate its business record and process transactions; respond ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (to customer inquiries; purchase supplies and deliver inventory on a timely basis; and maintain cost-ef) Tj ET Q q 0 0 0 rg BT 455.27 700.25 Td (ficient operations. Given ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (the significant number of transactions that are completed annually) Tj ET Q q 0 0 0 rg BT 313.71 688.25 Td (, it is vital to maintain constant operation of computer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (hardware and software systems, implement modifications and/or upgrades as needed and maintain cyber security) Tj ET Q q 0 0 0 rg BT 501.43 676.25 Td (. Despite the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (Company's cyber security ef) Tj ET Q q 0 0 0 rg BT 163.53 664.25 Td (forts, the Company) Tj ET Q q 0 0 0 rg BT 243.24 664.25 Td (s information technology systems may be vulnerable from time to time to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (damage or interruption from computer viruses, power outages, third-party intrusions and other technical malfunctions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (Through ) Tj ET Q q 0 0 0 rg BT 87.34 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 102.45 634.25 Td (Company) Tj ET Q q 0 0 0 rg BT 144.12 634.25 Td (s ) Tj ET Q q 0 0 0 rg BT 150.91 634.25 Td (business ) Tj ET Q q 0 0 0 rg BT 187.70 634.25 Td (operations, ) Tj ET Q q 0 0 0 rg BT 234.76 634.25 Td (the ) Tj ET Q q 0 0 0 rg BT 249.87 634.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 291.66 634.25 Td (collects ) Tj ET Q q 0 0 0 rg BT 325.10 634.25 Td (and ) Tj ET Q q 0 0 0 rg BT 342.44 634.25 Td (stores ) Tj ET Q q 0 0 0 rg BT 368.67 634.25 Td (confidential ) Tj ET Q q 0 0 0 rg BT 419.33 634.25 Td (information ) Tj ET Q q 0 0 0 rg BT 469.44 634.25 Td (from ) Tj ET Q q 0 0 0 rg BT 491.77 634.25 Td (its ) Tj ET Q q 0 0 0 rg BT 504.12 634.25 Td (customers ) Tj ET Q q 0 0 0 rg BT 547.57 634.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (vendors ) Tj ET Q q 0 0 0 rg BT 84.75 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.27 622.25 Td (personal ) Tj ET Q q 0 0 0 rg BT 139.23 622.25 Td (information ) Tj ET Q q 0 0 0 rg BT 189.53 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 207.06 622.25 Td (other ) Tj ET Q q 0 0 0 rg BT 230.69 622.25 Td (confidential ) Tj ET Q q 0 0 0 rg BT 281.53 622.25 Td (information ) Tj ET Q q 0 0 0 rg BT 331.83 622.25 Td (from ) Tj ET Q q 0 0 0 rg BT 354.36 622.25 Td (its ) Tj ET Q q 0 0 0 rg BT 366.89 622.25 Td (employees. ) Tj ET Q q 0 0 0 rg BT 415.24 622.25 Td (For ) Tj ET Q q 0 0 0 rg BT 432.22 622.25 Td (example, ) Tj ET Q q 0 0 0 rg BT 471.67 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 486.98 622.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 528.95 622.25 Td (handles, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (collects ) Tj ET Q q 0 0 0 rg BT 82.41 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 98.73 610.25 Td (stores ) Tj ET Q q 0 0 0 rg BT 123.93 610.25 Td (information ) Tj ET Q q 0 0 0 rg BT 173.01 610.25 Td (in ) Tj ET Q q 0 0 0 rg BT 182.66 610.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 228.41 610.25 Td (with ) Tj ET Q q 0 0 0 rg BT 248.06 610.25 Td (its ) Tj ET Q q 0 0 0 rg BT 259.38 610.25 Td (customers' ) Tj ET Q q 0 0 0 rg BT 303.60 610.25 Td (businesses ) Tj ET Q q 0 0 0 rg BT 347.70 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 364.01 610.25 Td (its ) Tj ET Q q 0 0 0 rg BT 375.33 610.25 Td (customers' ) Tj ET Q q 0 0 0 rg BT 419.55 610.25 Td (communications ) Tj ET Q q 0 0 0 rg BT 487.52 610.25 Td (with ) Tj ET Q q 0 0 0 rg BT 507.17 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.26 610.25 Td (Company) Tj ET Q q 0 0 0 rg BT 559.50 610.25 Td (. ) Tj ET Q q 0 0 0 rg BT 564.50 610.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (Although ) Tj ET Q q 0 0 0 rg BT 90.29 598.25 Td (the ) Tj ET Q q 0 0 0 rg BT 105.02 598.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 146.42 598.25 Td (has ) Tj ET Q q 0 0 0 rg BT 162.26 598.25 Td (taken ) Tj ET Q q 0 0 0 rg BT 186.42 598.25 Td (steps ) Tj ET Q q 0 0 0 rg BT 208.93 598.25 Td (designed ) Tj ET Q q 0 0 0 rg BT 246.99 598.25 Td (to ) Tj ET Q q 0 0 0 rg BT 257.28 598.25 Td (safeguard ) Tj ET Q q 0 0 0 rg BT 298.66 598.25 Td (such ) Tj ET Q q 0 0 0 rg BT 319.50 598.25 Td (information, ) Tj ET Q q 0 0 0 rg BT 371.73 598.25 Td (there ) Tj ET Q q 0 0 0 rg BT 394.22 598.25 Td (can ) Tj ET Q q 0 0 0 rg BT 410.61 598.25 Td (be ) Tj ET Q q 0 0 0 rg BT 422.56 598.25 Td (no ) Tj ET Q q 0 0 0 rg BT 435.07 598.25 Td (assurance ) Tj ET Q q 0 0 0 rg BT 476.45 598.25 Td (that ) Tj ET Q q 0 0 0 rg BT 493.96 598.25 Td (such ) Tj ET Q q 0 0 0 rg BT 514.80 598.25 Td 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100.82 562.25 Td (information ) Tj ET Q q 0 0 0 rg BT 151.10 562.25 Td (change ) Tj ET Q q 0 0 0 rg BT 182.48 562.25 Td (frequently ) Tj ET Q q 0 0 0 rg BT 226.63 562.25 Td (and ) Tj ET Q q 0 0 0 rg BT 244.13 562.25 Td (may ) Tj ET Q q 0 0 0 rg BT 264.41 562.25 Td (be ) Tj ET Q q 0 0 0 rg BT 276.91 562.25 Td (dif) Tj ET Q q 0 0 0 rg BT 287.84 562.25 Td (ficult ) Tj ET Q q 0 0 0 rg BT 312.01 562.25 Td (to ) Tj ET Q q 0 0 0 rg BT 322.85 562.25 Td (detect, ) Tj ET Q q 0 0 0 rg BT 352.29 562.25 Td (which ) Tj ET Q q 0 0 0 rg BT 379.79 562.25 Td (can ) Tj ET Q q 0 0 0 rg BT 396.73 562.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 427.00 562.25 Td (the ) Tj ET Q q 0 0 0 rg BT 442.28 562.25 Td (Company) Tj ET Q q 0 0 0 rg BT 483.95 562.25 Td (s ) Tj ET Q q 0 0 0 rg BT 490.90 562.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 519.52 562.25 Td (to ) Tj ET Q q 0 0 0 rg BT 530.36 562.25 Td (respond ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (appropriately) Tj ET Q q 0 0 0 rg BT 102.66 550.25 Td (. ) Tj ET Q q 0 0 0 rg BT 108.04 550.25 Td ( ) Tj ET Q q 0 0 0 rg BT 110.71 550.25 Td (The ) Tj ET Q q 0 0 0 rg BT 129.13 550.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 170.90 550.25 Td (could ) Tj ET Q q 0 0 0 rg BT 195.99 550.25 Td (be ) Tj ET Q q 0 0 0 rg BT 208.31 550.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 239.51 550.25 Td (to ) Tj ET Q q 0 0 0 rg BT 250.17 550.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 284.15 550.25 Td (for ) Tj ET Q q 0 0 0 rg BT 298.69 550.25 Td (failure ) Tj ET Q q 0 0 0 rg BT 327.66 550.25 Td (to ) Tj ET Q q 0 0 0 rg BT 338.32 550.25 Td (comply ) Tj ET Q q 0 0 0 rg BT 371.19 550.25 Td (with ) Tj ET Q q 0 0 0 rg BT 391.84 550.25 Td (privacy ) Tj ET Q q 0 0 0 rg BT 424.71 550.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.02 550.25 Td (information ) Tj ET Q q 0 0 0 rg BT 492.11 550.25 Td (security ) Tj ET Q q 0 0 0 rg BT 526.64 550.25 Td (laws, ) Tj ET Q q 0 0 0 rg BT 550.35 550.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (failing ) Tj ET Q q 0 0 0 rg BT 77.52 538.25 Td (to ) Tj ET Q q 0 0 0 rg BT 86.72 538.25 Td (protect ) Tj ET Q q 0 0 0 rg BT 115.91 538.25 Td (personal ) Tj ET Q q 0 0 0 rg BT 151.20 538.25 Td (information ) Tj ET Q q 0 0 0 rg BT 199.83 538.25 Td (or ) Tj ET Q q 0 0 0 rg BT 209.58 538.25 Td (for ) Tj ET Q q 0 0 0 rg BT 222.66 538.25 Td (failing ) Tj ET Q q 0 0 0 rg BT 250.19 538.25 Td (to ) Tj ET Q q 0 0 0 rg BT 259.39 538.25 Td (respond ) Tj ET Q q 0 0 0 rg BT 292.47 538.25 Td (appropriately) Tj ET Q q 0 0 0 rg BT 345.13 538.25 Td (. ) Tj ET Q q 0 0 0 rg BT 349.05 538.25 Td ( ) Tj ET Q q 0 0 0 rg BT 350.47 538.25 Td (Loss, ) Tj ET Q q 0 0 0 rg BT 373.28 538.25 Td (unauthorized ) Tj ET Q q 0 0 0 rg BT 426.90 538.25 Td (access ) Tj ET Q q 0 0 0 rg BT 453.86 538.25 Td (to, ) Tj ET Q q 0 0 0 rg BT 465.56 538.25 Td (or ) Tj ET Q q 0 0 0 rg BT 475.31 538.25 Td (misuse ) Tj ET Q q 0 0 0 rg BT 504.50 538.25 Td (of ) Tj ET Q q 0 0 0 rg BT 514.25 538.25 Td (confidential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.68 526.25 Td (personal ) Tj ET Q q 0 0 0 rg BT 96.91 526.25 Td (information ) Tj ET Q q 0 0 0 rg BT 146.48 526.25 Td (could ) Tj ET Q q 0 0 0 rg BT 171.05 526.25 Td (disrupt ) Tj ET Q q 0 0 0 rg BT 201.18 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.75 526.25 Td (Company) Tj ET Q q 0 0 0 rg BT 257.42 526.25 Td (s ) Tj ET Q q 0 0 0 rg BT 263.66 526.25 Td (operations, ) Tj ET Q q 0 0 0 rg BT 310.17 526.25 Td (damage ) Tj ET Q q 0 0 0 rg BT 343.62 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 358.19 526.25 Td (Company) Tj ET Q q 0 0 0 rg BT 399.85 526.25 Td (s ) Tj ET Q q 0 0 0 rg BT 406.10 526.25 Td (reputation, ) Tj ET Q q 0 0 0 rg BT 451.49 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 468.29 526.25 Td (expose ) Tj ET Q q 0 0 0 rg BT 498.41 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 512.98 526.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 554.22 526.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (claims ) Tj ET Q q 0 0 0 rg BT 78.30 514.25 Td (from ) Tj ET Q q 0 0 0 rg BT 99.94 514.25 Td (customers, ) Tj ET Q q 0 0 0 rg BT 145.18 514.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 182.36 514.25 Td (institutions, ) Tj ET Q q 0 0 0 rg BT 231.51 514.25 Td (regulators, ) Tj ET Q q 0 0 0 rg BT 276.19 514.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 321.15 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 337.79 514.25 Td (other ) Tj ET Q q 0 0 0 rg BT 360.53 514.25 Td (persons, ) Tj ET Q q 0 0 0 rg BT 395.78 514.25 Td (any ) Tj ET Q q 0 0 0 rg BT 412.42 514.25 Td (of ) Tj ET Q q 0 0 0 rg BT 422.94 514.25 Td (which ) Tj ET Q q 0 0 0 rg BT 449.58 514.25 Td (could ) Tj ET Q q 0 0 0 rg BT 473.99 514.25 Td (have ) Tj ET Q q 0 0 0 rg BT 495.07 514.25 Td (an ) Tj ET Q q 0 0 0 rg BT 506.70 514.25 Td (adverse ) Tj ET Q q 0 0 0 rg BT 539.44 514.25 Td (ef) Tj ET Q q 0 0 0 rg BT 547.03 514.25 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (on ) Tj ET Q q 0 0 0 rg BT 62.50 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 77.22 502.25 Td (Company) Tj ET Q q 0 0 0 rg BT 118.88 502.25 Td (s ) Tj ET Q q 0 0 0 rg BT 125.27 502.25 Td (business, ) Tj ET Q q 0 0 0 rg BT 164.17 502.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 201.65 502.25 Td (condition ) Tj ET Q q 0 0 0 rg BT 241.92 502.25 Td (and ) Tj ET Q q 0 0 0 rg BT 258.86 502.25 Td (results ) Tj ET Q q 0 0 0 rg BT 287.47 502.25 Td (of ) Tj ET Q q 0 0 0 rg BT 298.30 502.25 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (Security ) Tj ET Q q 0 0 0 rg BT 85.58 484.25 Td (breaches, ) Tj ET Q q 0 0 0 rg BT 125.31 484.25 Td (cyber ) Tj ET Q q 0 0 0 rg BT 149.77 484.25 Td (incidents ) Tj ET Q q 0 0 0 rg BT 188.13 484.25 Td (or ) Tj ET Q q 0 0 0 rg BT 198.71 484.25 Td (cyber ) Tj ET Q q 0 0 0 rg BT 223.17 484.25 Td (attacks ) Tj ET Q q 0 0 0 rg BT 253.19 484.25 Td (could ) Tj ET Q q 0 0 0 rg BT 277.66 484.25 Td (include, ) Tj ET Q q 0 0 0 rg BT 311.84 484.25 Td (among ) Tj ET Q q 0 0 0 rg BT 341.31 484.25 Td (other ) Tj ET Q q 0 0 0 rg BT 364.11 484.25 Td (things, ) Tj ET Q q 0 0 0 rg BT 393.32 484.25 Td (computer ) Tj ET Q q 0 0 0 rg BT 433.33 484.25 Td (viruses, ) Tj ET Q q 0 0 0 rg BT 466.42 484.25 Td (malicious ) Tj ET Q q 0 0 0 rg BT 507.55 484.25 Td (or ) Tj ET Q q 0 0 0 rg BT 518.13 484.25 Td (destructive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (code, ) Tj ET Q q 0 0 0 rg BT 73.37 472.25 Td (ransomware, ) Tj ET Q q 0 0 0 rg BT 126.74 472.25 Td (social ) Tj ET Q q 0 0 0 rg BT 152.06 472.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 201.26 472.25 Td (attacks ) Tj ET Q q 0 0 0 rg BT 231.02 472.25 Td (\(including ) Tj ET Q q 0 0 0 rg BT 274.12 472.25 Td (phishing ) Tj ET Q q 0 0 0 rg BT 310.57 472.25 Td (and ) Tj ET Q q 0 0 0 rg BT 327.00 472.25 Td (impersonation\), ) Tj ET Q q 0 0 0 rg BT 392.04 472.25 Td (hacking, ) Tj ET Q q 0 0 0 rg BT 428.19 472.25 Td (denial ) Tj ET Q q 0 0 0 rg BT 454.62 472.25 Td (of ) Tj ET Q q 0 0 0 rg BT 464.95 472.25 Td (service ) Tj ET Q q 0 0 0 rg BT 495.26 472.25 Td (attacks ) Tj ET Q q 0 0 0 rg BT 525.02 472.25 Td (and ) Tj ET Q q 0 0 0 rg BT 541.46 472.25 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (attacks. ) Tj ET Q q 0 0 0 rg BT 82.79 460.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 103.26 460.25 Td (of ) Tj ET Q q 0 0 0 rg BT 114.84 460.25 Td (these ) Tj ET Q q 0 0 0 rg BT 138.63 460.25 Td (instances ) Tj ET Q q 0 0 0 rg BT 178.54 460.25 Td (could ) Tj ET Q q 0 0 0 rg BT 204.00 460.25 Td (compromise ) Tj ET Q q 0 0 0 rg BT 256.68 460.25 Td (sensitive ) Tj ET Q q 0 0 0 rg BT 294.92 460.25 Td (data, ) Tj ET Q q 0 0 0 rg BT 317.33 460.25 Td (disrupt ) Tj ET Q q 0 0 0 rg BT 348.35 460.25 Td (operations, ) Tj ET Q q 0 0 0 rg BT 395.75 460.25 Td (require ) Tj ET Q q 0 0 0 rg BT 427.32 460.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 470.55 460.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 524.89 460.25 Td (for ) Tj ET Q q 0 0 0 rg BT 539.80 460.25 Td (cyber ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (security) Tj ET Q q 0 0 0 rg BT 81.01 448.25 Td (, ) Tj ET Q q 0 0 0 rg BT 86.98 448.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 123.20 448.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 164.99 448.25 Td (premiums, ) Tj ET Q q 0 0 0 rg BT 210.96 448.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 236.64 448.25 Td (reputational ) Tj ET Q q 0 0 0 rg BT 287.87 448.25 Td (damage ) Tj ET Q q 0 0 0 rg BT 322.43 448.25 Td (that ) Tj ET Q q 0 0 0 rg BT 340.90 448.25 Td (adversely ) Tj ET Q q 0 0 0 rg BT 382.69 448.25 Td (af) Tj ET Q q 0 0 0 rg BT 390.27 448.25 Td (fects ) Tj ET Q q 0 0 0 rg BT 412.62 448.25 Td (customer ) Tj ET Q q 0 0 0 rg BT 452.75 448.25 Td (or ) Tj ET Q q 0 0 0 rg BT 464.55 448.25 Td (investor ) Tj ET Q q 0 0 0 rg BT 500.24 448.25 Td (confidence ) Tj ET Q q 0 0 0 rg BT 547.57 448.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (damage ) Tj ET Q q 0 0 0 rg BT 83.59 436.25 Td (the ) Tj ET Q q 0 0 0 rg BT 98.31 436.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 145.39 436.25 Td (competitiveness, ) Tj ET Q q 0 0 0 rg BT 214.82 436.25 Td (sales, ) Tj ET Q q 0 0 0 rg BT 239.26 436.25 Td (profitability ) Tj ET Q q 0 0 0 rg BT 289.53 436.25 Td (and ) Tj ET Q q 0 0 0 rg BT 306.46 436.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 348.40 436.25 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 397.54 436.25 Td (value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Like ) Tj ET Q q 0 0 0 rg BT 70.30 418.25 Td (many ) Tj ET Q q 0 0 0 rg BT 94.50 418.25 Td (other ) Tj ET Q q 0 0 0 rg BT 117.02 418.25 Td (companies, ) Tj ET Q q 0 0 0 rg BT 164.26 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 178.46 418.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 219.32 418.25 Td (has ) Tj ET Q q 0 0 0 rg BT 234.63 418.25 Td (been ) Tj ET Q q 0 0 0 rg BT 255.48 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 269.68 418.25 Td (tar) Tj ET Q q 0 0 0 rg BT 280.04 418.25 Td (get ) Tj ET Q q 0 0 0 rg BT 294.24 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.55 418.25 Td (maliciouscyber) Tj ET Q q 0 0 0 rg BT 367.93 418.25 Td (-attack ) Tj ET Q q 0 0 0 rg BT 397.11 418.25 Td (attempts ) Tj ET Q q 0 0 0 rg BT 432.97 418.25 Td (in ) Tj ET Q q 0 0 0 rg BT 442.73 418.25 Td (the ) Tj ET Q q 0 0 0 rg BT 456.92 418.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 487.23 418.25 Td (course ) Tj ET Q q 0 0 0 rg BT 515.30 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 525.61 418.25 Td (business. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (Although ) Tj ET Q q 0 0 0 rg BT 89.29 406.25 Td (these ) Tj ET Q q 0 0 0 rg BT 111.35 406.25 Td (priorcyber) Tj ET Q q 0 0 0 rg BT 155.30 406.25 Td (-attacks ) Tj ET Q q 0 0 0 rg BT 187.90 406.25 Td (have ) Tj ET Q q 0 0 0 rg BT 208.29 406.25 Td (been ) Tj ET Q q 0 0 0 rg BT 228.68 406.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 258.52 406.25 Td (in ) Tj ET Q q 0 0 0 rg BT 267.82 406.25 Td (scope, ) Tj ET Q q 0 0 0 rg BT 294.60 406.25 Td (have ) Tj ET Q q 0 0 0 rg BT 314.99 406.25 Td (not ) Tj ET Q q 0 0 0 rg BT 329.28 406.25 Td (interrupted ) Tj ET Q q 0 0 0 rg BT 374.66 406.25 Td ( ) Tj ET Q q 0 0 0 rg BT 376.17 406.25 Td (businessoperationsand ) Tj ET Q q 0 0 0 rg BT 472.67 406.25 Td (have ) Tj ET Q q 0 0 0 rg BT 493.06 406.25 Td (not ) Tj ET Q q 0 0 0 rg BT 507.35 406.25 Td (had ) Tj ET Q q 0 0 0 rg BT 523.30 406.25 Td (a ) Tj ET Q q 0 0 0 rg BT 529.26 406.25 Td (material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 79.96 394.25 Td (on ) Tj ET Q q 0 0 0 rg BT 92.70 394.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 130.42 394.25 Td (results, ) Tj ET Q q 0 0 0 rg BT 161.77 394.25 Td (this ) Tj ET Q q 0 0 0 rg BT 178.96 394.25 Td (may ) Tj ET Q q 0 0 0 rg BT 198.92 394.25 Td (not ) Tj ET Q q 0 0 0 rg BT 214.45 394.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 251.62 394.25 Td (to ) Tj ET Q q 0 0 0 rg BT 262.14 394.25 Td (be ) Tj ET Q q 0 0 0 rg BT 274.33 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 289.29 394.25 Td (case ) Tj ET Q q 0 0 0 rg BT 309.24 394.25 Td (in ) Tj ET Q q 0 0 0 rg BT 319.76 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 334.72 394.25 Td (future. ) Tj ET Q q 0 0 0 rg BT 363.84 394.25 Td (Cybersecurity ) Tj ET Q q 0 0 0 rg BT 422.67 394.25 Td (incidents ) Tj ET Q q 0 0 0 rg BT 461.52 394.25 Td (involving ) Tj ET Q q 0 0 0 rg BT 502.60 394.25 Td (businesses ) Tj ET Q q 0 0 0 rg BT 547.56 394.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (other ) Tj ET Q q 0 0 0 rg BT 73.24 382.25 Td (institutions ) Tj ET Q q 0 0 0 rg BT 120.38 382.25 Td (are ) Tj ET Q q 0 0 0 rg BT 135.28 382.25 Td (on ) Tj ET Q q 0 0 0 rg BT 147.97 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 162.88 382.25 Td (rise. ) Tj ET Q q 0 0 0 rg BT 182.32 382.25 Td (The ) Tj ET Q q 0 0 0 rg BT 200.56 382.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 242.14 382.25 Td (believes ) Tj ET Q q 0 0 0 rg BT 277.59 382.25 Td (these ) Tj ET Q q 0 0 0 rg BT 300.83 382.25 Td (incidents ) Tj ET Q q 0 0 0 rg BT 339.63 382.25 Td (are ) Tj ET Q q 0 0 0 rg BT 354.52 382.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 379.99 382.25 Td (to ) Tj ET Q q 0 0 0 rg BT 390.46 382.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 427.59 382.25 Td (and ) Tj ET Q q 0 0 0 rg BT 444.72 382.25 Td (is ) Tj ET Q q 0 0 0 rg BT 454.08 382.25 Td (unable ) Tj ET Q q 0 0 0 rg BT 483.43 382.25 Td (to ) Tj ET Q q 0 0 0 rg BT 493.90 382.25 Td (predict ) Tj ET Q q 0 0 0 rg BT 524.35 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 539.26 382.25 Td (direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.83 370.25 Td (indirect ) Tj ET Q q 0 0 0 rg BT 93.87 370.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 123.58 370.25 Td (of ) Tj ET Q q 0 0 0 rg BT 134.41 370.25 Td (future ) Tj ET Q q 0 0 0 rg BT 160.79 370.25 Td (attacks ) Tj ET Q q 0 0 0 rg BT 191.05 370.25 Td (or ) Tj ET Q q 0 0 0 rg BT 201.88 370.25 Td (breaches ) Tj ET Q q 0 0 0 rg BT 239.36 370.25 Td (to ) Tj ET Q q 0 0 0 rg BT 249.64 370.25 Td (business ) Tj ET Q q 0 0 0 rg BT 286.03 370.25 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 349.25 Td (The Company may be subject to risk r) Tj ET Q q 0 0 0 rg BT 213.98 349.25 Td (elating to incr) Tj ET Q q 0 0 0 rg BT 273.24 349.25 Td (easing cash r) Tj ET Q q 0 0 0 rg BT 328.06 349.25 Td (equir) Tj ET Q q 0 0 0 rg BT 350.65 349.25 Td (ements of certain employee benefits plans, which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 337.25 Td (may affect its financial position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.25 Td (Although as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.94 319.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.52 319.25 Td (, the Company's consolidated defined benefit pension plans are frozen and no longer provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (for the accrual of future benefits, the expenses recorded for) Tj ET Q q 0 0 0 rg BT 286.15 307.25 Td (, and cash contributions required to be made to its defined benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (pension plans are dependent on changes in market interest rates and the value of plan assets, which are dependent on actual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (investment returns. Significant changes in market interest rates, decreases in the value of plan assets or investment losses on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 271.25 Td (plan assets may require the Company to increase the cash contributed to defined benefit pension plans which may af) Tj ET Q q 0 0 0 rg BT 515.23 271.25 Td (fect its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 259.25 Td (financial position.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (The Company may become subject to claims under) Tj ET Q q 0 0 0 rg BT 267.86 238.25 Td ( for) Tj ET Q q 0 0 0 rg BT 282.95 238.25 Td (eign laws and r) Tj ET Q q 0 0 0 rg BT 347.50 238.25 Td (egulations, which may be expensive, time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (consuming and distracting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (The Company is subject to the laws and the court systems of many jurisdictions. ) Tj ET Q q 0 0 0 rg BT 373.94 208.25 Td (The Company may become subject to claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (outside the U.S. for violations or alleged violations of laws with respect to past or future foreign operations of NACoal. In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (addition, these laws may be changed or new laws may be enacted in the future. International litigation is often expensive, time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (consuming and distracting. ) Tj ET Q q 0 0 0 rg BT 159.99 172.25 Td (As a result, any of these risks could significantly reduce the Company's profitability and its ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (to operate its businesses ef) Tj ET Q q 0 0 0 rg BT 156.46 160.25 Td (fectively) Tj ET Q q 0 0 0 rg BT 190.79 160.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 139.25 Td (Certain members of the Company's extended founding family own a substantial amount of its Class ) Tj ET Q q 0 0 0 rg BT 476.42 139.25 Td (A) Tj ET Q q 0 0 0 rg BT 483.09 139.25 Td ( and Class B ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 127.25 Td (common stock and, if they wer) Tj ET Q q 0 0 0 rg BT 180.36 127.25 Td (e to act in concert, could contr) Tj ET Q q 0 0 0 rg BT 309.31 127.25 Td (ol the outcome of dir) Tj ET Q q 0 0 0 rg BT 397.45 127.25 Td (ector) Tj ET Q q 0 0 0 rg BT 418.91 127.25 Td ( elections and other) Tj ET Q q 0 0 0 rg BT 501.78 127.25 Td ( stockholder) Tj ET Q q 0 0 0 rg BT 554.10 127.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 115.25 Td (votes on significant corporate actions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.25 Td (The Company has two classes of common stock: Class ) Tj ET Q q 0 0 0 rg BT 271.36 97.25 Td (A) Tj ET Q q 0 0 0 rg BT 278.03 97.25 Td ( common stock and Class B common stock. Holders of Class ) Tj ET Q q 0 0 0 rg BT 524.13 97.25 Td (A) Tj ET Q q 0 0 0 rg BT 530.80 97.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 85.25 Td (common stock are entitled to cast one vote per share and, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.25 85.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.83 85.25 Td (, accounted for approximately 25 percent of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 73.25 Td (the voting power of the Company) Tj ET Q q 0 0 0 rg BT 184.05 73.25 Td (. Holders of Class B common stock are entitled to cast ten votes per share and, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 61.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 61.25 Td (, accounted for the remaining voting power of the Company) Tj ET Q q 0 0 0 rg BT 367.87 61.25 Td (. ) Tj ET Q q 0 0 0 rg BT 372.31 61.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.76 61.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.34 61.25 Td (, certain members of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 49.25 Td (the Company's extended founding family held approximately 35 percent of the Company's outstanding Class ) Tj ET Q q 0 0 0 rg BT 487.41 49.25 Td (A) Tj ET Q q 0 0 0 rg BT 494.08 49.25 Td ( common stock ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (and approximately 98 percent of the Company's outstanding Class B common stock. On the basis of this common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (ownership, certain members of the Company's extended founding family could have exercised 82 percent of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (total voting power) Tj ET Q q 0 0 0 rg BT 122.77 718.10 Td (. ) Tj ET Q q 0 0 0 rg BT 127.22 718.10 Td (Although there is no voting agreement among such extended family members, in writing or otherwise, if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (they were to act in concert, they could control the outcome of director elections and other stockholder votes on significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (corporate actions, such as certain amendments to the Company's certificate of incorporation and sales of the Company or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (substantially all of its assets. Because certain members of the Company's extended founding family could prevent other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (stockholders from exercising significant influence over significant corporate actions, the Company may be a less attractive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (takeover tar) Tj ET Q q 0 0 0 rg BT 97.29 658.10 Td (get, which could adversely af) Tj ET Q q 0 0 0 rg BT 214.57 658.10 Td (fect the market price of its common stock.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (Item1B. UNRESOL) Tj ET Q q 0 0 0 rg BT 136.59 628.10 Td (VED ST) Tj ET Q q 0 0 0 rg BT 171.69 628.10 Td (AFF) Tj ET Q q 0 0 0 rg BT 190.76 628.10 Td ( COMMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 577.10 Td (Item2. PROPER) Tj ET Q q 0 0 0 rg BT 123.25 577.10 Td (TIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 559.10 Td (A. NACCO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 541.10 Td (NACCO leases of) Tj ET Q q 0 0 0 rg BT 122.03 541.10 Td (fice space in Mayfield Heights, Ohio, a suburb of Cleveland, Ohio, which serves as its corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.10 Td (headquarters.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 505.10 Td (B. NACoal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 481.10 Td (NACoal leases its corporate headquarters of) Tj ET Q q 0 0 0 rg BT 226.14 481.10 Td (fice space in Plano, ) Tj ET Q q 0 0 0 rg BT 306.21 481.10 Td (T) Tj ET Q q 0 0 0 rg BT 311.62 481.10 Td (exas. NACoal) Tj ET Q q 0 0 0 rg BT 370.50 481.10 Td (s proven and probable coal reserves and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 469.10 Td (deposits \(owned in fee or held under leases, which generally remain in ef) Tj ET Q q 0 0 0 rg BT 342.22 469.10 Td (fect until exhaustion of the reserves if mining is in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 457.10 Td (progress\) are estimated at approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.21 457.10 Td (1.9 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.33 457.10 Td ( tons \(including the unconsolidated mining operations\), all of which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 445.10 Td (lignite coal deposits, except for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.00 445.10 Td (91.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.89 445.10 Td ( tons of bituminous coal. Reserves are estimates of quantities of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (coal, made by NACoal) Tj ET Q q 0 0 0 rg BT 144.42 433.10 Td (s geological and engineering staf) Tj ET Q q 0 0 0 rg BT 275.86 433.10 Td (f, which are considered mineable in the future using existing operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (methods. Developed reserves are those which have been allocated to mines which are in operation; all other reserves are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (classified as undeveloped. Information concerning mine type, reserve data and coal quality characteristics for NACoal) Tj ET Q q 0 0 0 rg BT 525.93 409.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (properties are set forth on the table on pages 4 and 5 under Item1. Business North ) Tj ET Q q 0 0 0 rg BT 397.97 397.10 Td (American Coal.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (Item3. LEGAL) Tj ET Q q 0 0 0 rg BT 116.95 364.10 Td ( PROCEEDINGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (Neither the Company nor any of its subsidiaries is a party to any material legal proceeding other than ordinary routine litigation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (incidental to its respective business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 301.10 Td (Item4. MINE SAFETY) Tj ET Q q 0 0 0 rg BT 151.29 301.10 Td ( DISCLOSURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Information concerning mine safety violations or other regulatory matters required by Section 1503\(a\) of ) Tj ET Q q 0 0 0 rg BT 472.47 286.10 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 541.34 286.10 Td (Act ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (and Item 104 of Regulation S-K is included in Exhibit 95 filed with this Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (Item4A. EXECUTIVE OFFICERS OF) Tj ET Q q 0 0 0 rg BT 218.25 247.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.57 247.10 Td (THE REGISTRANT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (The information under this Item is furnished pursuant to Instruction 3 to Item 401\(b\) of Regulation S-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 211.10 Td (There exists no arrangement or understanding between any executive of) Tj ET Q q 0 0 0 rg BT 337.76 211.10 Td (ficer and any other person pursuant to which such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 199.10 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 199.10 Td (ficer was elected. Each executive of) Tj ET Q q 0 0 0 rg BT 242.58 199.10 Td (ficer serves until his or her successor is elected and qualified.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (The following tables set forth as of March 1, 2019 the name, age, current position and principal occupation and employment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (during the past five years of the Company) Tj ET Q q 0 0 0 rg BT 220.79 169.10 Td (s executive of) Tj ET Q q 0 0 0 rg BT 276.14 169.10 Td (ficers. Certain executive of) Tj ET Q q 0 0 0 rg BT 384.24 169.10 Td (ficers of the Company listed below are also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 157.10 Td (ficers for NACoal.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.00 742.25 Td (EXECUTIVE OFFICERS OF) Tj ET Q q 0 0 0 rg BT 331.54 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 333.85 742.25 Td (THE COMP) Tj ET Q q 0 0 0 rg BT 387.28 742.25 Td (ANY) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 708.75 102.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 708.75 4.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 708.75 20.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 708.75 4.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 708.75 189.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 708.75 4.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 708.75 189.00 -77.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 621.75 102.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 621.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 621.75 20.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 621.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 621.75 189.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 621.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 621.75 189.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 590.75 102.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 590.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 590.75 20.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 590.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 590.75 189.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 590.75 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 590.75 189.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 551.75 102.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 551.75 4.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 551.75 20.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 551.75 4.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 551.75 189.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 551.75 4.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 551.75 189.00 -49.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 492.75 102.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 492.75 4.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 492.75 20.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 492.75 4.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 492.75 189.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 492.75 4.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 492.75 189.00 -34.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 448.75 102.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 448.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 448.75 20.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 448.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 448.75 189.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 448.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 448.75 189.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 393.75 102.00 -59.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.50 393.75 4.00 -59.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 393.75 20.00 -59.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 175.50 393.75 4.00 -59.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.50 393.75 189.00 -59.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 393.75 4.00 -59.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.50 393.75 189.00 -59.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 718.75 m 151.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 718.75 m 175.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 179.5 718.75 m 368.5 718.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 718.75 m 561.5 718.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 722.98 Td (Name) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 158.30 722.98 Td (Age) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 182.00 722.98 Td (Curr) Tj ET Q q 0 0 0 rg BT 199.26 722.98 Td (ent Position) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 375.00 722.98 Td (Other) Tj ET Q q 0 0 0 rg BT 395.29 722.98 Td ( Positions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 700.70 Td (J.C. Butler) Tj ET Q q 0 0 0 rg BT 86.29 700.70 Td (, Jr) Tj ET Q q 0 0 0 rg BT 95.68 700.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.00 700.70 Td (58) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 700.70 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 289.45 700.70 Td (ficer of NACCO \(from) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 692.70 Td (September 2017\) and President and Chief Executive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 684.70 Td (Of) Tj ET Q q 0 0 0 rg BT 190.37 684.70 Td (ficer of NACoal \(from July 2015\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 700.70 Td (From prior to 2014 to September 2017, Senior ) Tj ET Q q 0 0 0 rg BT 525.36 700.70 Td (V) Tj ET Q q 0 0 0 rg BT 530.82 700.70 Td (ice) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 692.70 Td (President - Finance, ) Tj ET Q q 0 0 0 rg BT 440.69 692.70 Td (T) Tj ET Q q 0 0 0 rg BT 445.36 692.70 Td (reasurer and Chief ) Tj ET Q q 0 0 0 rg BT 506.08 692.70 Td (Administrative) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 684.70 Td (Of) Tj ET Q q 0 0 0 rg BT 383.37 684.70 Td (ficer of NACCO. From prior to 2014 to September) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 676.70 Td (2017, ) Tj ET Q q 0 0 0 rg BT 394.78 676.70 Td (Assistant Secretary of HBB and KC. From July) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 668.70 Td (2014 to July 2015, Senior ) Tj ET Q q 0 0 0 rg BT 459.37 668.70 Td (V) Tj ET Q q 0 0 0 rg BT 464.84 668.70 Td (ice President - Project) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 660.70 Td (Development, ) Tj ET Q q 0 0 0 rg BT 421.88 660.70 Td (Administration and Mississippi) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 652.70 Td (Operations of NACoal. From prior to 2014 to June 2014,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 644.70 Td (Senior ) Tj ET Q q 0 0 0 rg BT 397.81 644.70 Td (V) Tj ET Q q 0 0 0 rg BT 403.28 644.70 Td (ice President - Project Development and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 636.70 Td (Administration of NACoal.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 613.70 Td (Elizabeth I. Loveman) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.30 613.70 Td (49) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 613.70 Td (V) Tj ET Q q 0 0 0 rg BT 187.54 613.70 Td (ice President and Controller \(from March 2014\) and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 605.70 Td (Principal Financial Of) Tj ET Q q 0 0 0 rg BT 253.02 605.70 Td (ficer \(from June 2014\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 613.70 Td (From prior to 2014 to March 2014, Director of Financial ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 605.70 Td (Reporting of NACCO.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 582.70 Td (John D. Neumann) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.30 582.70 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 582.70 Td (V) Tj ET Q q 0 0 0 rg BT 187.54 582.70 Td (ice President, General Counsel and Secretary of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 574.70 Td (NACCO, ) Tj ET Q q 0 0 0 rg BT 213.93 574.70 Td (V) Tj ET Q q 0 0 0 rg BT 219.40 574.70 Td (ice President, General Counsel and Secretary) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 566.70 Td (of NACoal \(from prior to 2014\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 582.70 Td (From prior to 2014 to September 2017, ) Tj ET Q q 0 0 0 rg BT 502.32 582.70 Td (Assistant) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 574.70 Td (Secretary of HBB and KC.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 543.70 Td (Miles B. Haberer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.30 543.70 Td (52) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 543.70 Td (Associate General Counsel of NACCO \(from prior to ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 535.70 Td (2014\), ) Tj ET Q q 0 0 0 rg BT 204.22 535.70 Td (Associate General Counsel, ) Tj ET Q q 0 0 0 rg BT 294.42 535.70 Td (Assistant Secretary of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 527.70 Td (NACoal \(from prior to 2014\) and President, North ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 519.70 Td (American Coal Royalty Company \(an NACoal ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 511.70 Td (subsidiary\) \(from September 2015\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 543.70 Td (From prior to 2014 to September 2015, Director) Tj ET Q q 0 0 0 rg BT 529.04 543.70 Td (-Land of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 535.70 Td (NACoal. From prior to 2014 to September 2015, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 527.70 Td (Assistant Secretary of NACCO. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 484.70 Td (Jesse L. ) Tj ET Q q 0 0 0 rg BT 79.11 484.70 Td (Adkins) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.30 484.70 Td (36) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 484.70 Td (Associate Counsel and ) Tj ET Q q 0 0 0 rg BT 256.43 484.70 Td (Assistant Secretary of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 476.70 Td (NACCO,) Tj ET Q q 0 0 0 rg BT 213.56 476.70 Td (Associate Counsel and ) Tj ET Q q 0 0 0 rg BT 288.00 476.70 Td (Assistant Secretary of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 468.70 Td (NACoal\(from prior to 2014\) ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 440.70 Td (Sarah E. Fry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.30 440.70 Td (43) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 440.70 Td (Associate General Counsel and ) Tj ET Q q 0 0 0 rg BT 283.97 440.70 Td (Assistant Secretary of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 432.70 Td (NACCO \(from May 2017\), ) Tj ET Q q 0 0 0 rg BT 271.33 432.70 Td (Associate General Counsel) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 424.70 Td (and ) Tj ET Q q 0 0 0 rg BT 195.33 424.70 Td (Assistant Secretary of NACoal \(from May 2017\),) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 440.70 Td (From January 2015 to ) Tj ET Q q 0 0 0 rg BT 447.22 440.70 Td (April 2017, Senior Counsel,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 432.70 Td (Locke Lord \(law firm\). From March 2014 to December) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 424.70 Td (2014, Partner) Tj ET Q q 0 0 0 rg BT 417.94 424.70 Td (, Culhane Meadows \(law firm\). From prior) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 416.70 Td (to 2014 to March 2014, ) Tj ET Q q 0 0 0 rg BT 452.10 416.70 Td (Associate, Conner and ) Tj ET Q q 0 0 0 rg BT 526.01 416.70 Td (W) Tj ET Q q 0 0 0 rg BT 533.33 416.70 Td (inters) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 408.70 Td (\(law firm\).) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 385.70 Td (Thomas ) Tj ET Q q 0 0 0 rg BT 79.33 385.70 Td (A. Maxwell) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 164.30 385.70 Td (41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 385.70 Td (V) Tj ET Q q 0 0 0 rg BT 187.30 385.70 Td (ice President - Financial Planning and ) Tj ET Q q 0 0 0 rg BT 310.38 385.70 Td (Analysis and) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 182.00 377.70 Td (T) Tj ET Q q 0 0 0 rg BT 186.61 377.70 Td (reasurer \(from September 2017\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 385.70 Td (From September 2015 to September 2017, Director of ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 377.70 Td (Financial Planning and ) Tj ET Q q 0 0 0 rg BT 450.32 377.70 Td (Analysis and ) Tj ET Q q 0 0 0 rg BT 493.43 377.70 Td (Assistant ) Tj ET Q q 0 0 0 rg BT 524.63 377.70 Td (T) Tj ET Q q 0 0 0 rg BT 529.23 377.70 Td (reasurer) Tj ET Q q 0 0 0 rg BT 554.55 377.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 369.70 Td (From January 2014 to September 2015, Senior Manager) Tj ET Q q 0 0 0 rg BT 554.64 369.70 Td (, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.00 361.70 Td (Finance and ) Tj ET Q q 0 0 0 rg BT 415.43 361.70 Td (Assistant ) Tj ET Q q 0 0 0 rg BT 446.63 361.70 Td (T) Tj ET Q q 0 0 0 rg BT 451.23 361.70 Td (reasurer) Tj ET Q q 0 0 0 rg BT 476.55 361.70 Td (. 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216.05 513.43 Td (T) Tj ET Q q 0 0 0 rg BT 221.80 513.43 Td (otal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.85 503.43 Td (Number) Tj ET Q q 0 0 0 rg BT 239.22 503.43 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 493.43 Td (Shar) Tj ET Q q 0 0 0 rg BT 232.98 493.43 Td (es ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.55 483.43 Td (Pur) Tj ET Q q 0 0 0 rg BT 220.48 483.43 Td (chased) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.35 513.43 Td (\(b\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.10 503.43 Td (A) Tj ET Q q 0 0 0 rg BT 293.58 503.43 Td (verage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.40 493.43 Td (Price Paid ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.70 483.43 Td (per) Tj ET Q q 0 0 0 rg BT 297.96 483.43 Td ( Shar) Tj ET Q q 0 0 0 rg BT 320.84 483.43 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.45 553.43 Td (\(c\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.10 543.43 Td (T) Tj ET Q q 0 0 0 rg BT 365.85 543.43 Td (otal Number) Tj ET Q q 0 0 0 rg BT 419.83 543.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.20 533.43 Td (of Shar) Tj ET Q q 0 0 0 rg BT 401.41 533.43 Td (es ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.85 523.43 Td (Pur) Tj ET Q q 0 0 0 rg BT 377.78 523.43 Td (chased as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.20 513.43 Td (Part of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.45 503.43 Td (Publicly ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.50 493.43 Td (Announced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.90 483.43 Td (Pr) Tj ET Q q 0 0 0 rg BT 381.27 483.43 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.35 567.43 Td (\(d\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.30 555.43 Td (Maximum Number) Tj ET Q q 0 0 0 rg BT 529.61 555.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.15 543.43 Td (of Shar) Tj ET Q q 0 0 0 rg BT 492.36 543.43 Td (es \(or) Tj ET Q q 0 0 0 rg BT 515.78 543.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.25 531.43 Td (Appr) Tj ET Q q 0 0 0 rg BT 482.85 531.43 Td (oximate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.25 519.43 Td (Dollar) Tj ET Q q 0 0 0 rg BT 477.29 519.43 Td ( ) Tj ET Q q 0 0 0 rg BT 479.61 519.43 Td (V) Tj ET Q q 0 0 0 rg BT 485.91 519.43 Td (alue\) that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.95 507.43 Td (May ) Tj ET Q q 0 0 0 rg BT 485.52 507.43 Td (Y) Tj ET Q q 0 0 0 rg BT 491.63 507.43 Td (et Be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.30 495.43 Td (Pur) Tj ET Q q 0 0 0 rg BT 467.23 495.43 Td (chased Under) Tj ET Q q 0 0 0 rg BT 525.66 495.43 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.90 483.43 Td (the Pr) Tj ET Q q 0 0 0 rg BT 483.10 483.43 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 510.86 487.96 Td ( \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 469.32 Td (Month #1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 457.32 Td (\(October 1 to 31, 2018\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 457.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.00 457.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 457.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 457.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 457.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 457.42 Td (24,660,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 443.32 Td (Month #2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 431.32 Td (\(November 1 to 30, 2018\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.15 431.42 Td (5,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.00 431.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 431.42 Td (35.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 431.42 Td (5,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 431.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 431.42 Td (24,476,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 417.32 Td (Month #3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 405.32 Td (\(December 1 to 31, 2018\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.15 405.42 Td (23,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.00 405.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 405.42 Td (32.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 405.42 Td (23,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 405.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 405.42 Td (23,706,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 383.42 Td ( ) Tj ET Q q 0 0 0 rg BT 92.32 383.42 Td (T) Tj ET Q q 0 0 0 rg BT 97.73 383.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.15 383.42 Td (28,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.00 383.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.15 383.42 Td (33.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 383.42 Td (28,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.00 383.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.65 383.42 Td (23,706,258) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.00 355.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 78.00 355.25 Td (In February 2018, the Company established a stock repurchase program allowing for the purchase of up to $25.0 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 343.25 Td (of the Company's Class ) Tj ET Q q 0 0 0 rg BT 174.25 343.25 Td (A) Tj ET Q q 0 0 0 rg BT 180.92 343.25 Td ( Common Stock outstanding through December 31, 2019. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.28 343.25 Td (See Note 12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 343.25 Td ( to the Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 331.25 Td (Financial Statements contained elsewhere in this Form 10-K for a discussion of the Company's stock repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.00 319.25 Td (program.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 289.25 Td (Item 6. SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 196.96 289.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 213.16 289.25 Td (T) Tj ET Q q 0 0 0 rg BT 219.09 289.25 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 265.25 Td (As a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 401.56 265.25 Td (Act of 1934, the Company is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (required to provide this information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 175.25 Td ( ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 686.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 82.54 686.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 668.25 Td (Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 177.17 668.25 Td (Analysis of Financial Condition and Results of Operations include NACCO Industries, Inc. \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 656.25 Td ("parent company" or NACCO\) and its wholly owned subsidiaries \(collectively) Tj ET Q q 0 0 0 rg BT 376.71 656.25 Td (, the Company\). NACCO is the public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 644.25 Td (holding company for ) Tj ET Q q 0 0 0 rg BT 140.19 644.25 Td (The North ) Tj ET Q q 0 0 0 rg BT 183.52 644.25 Td (American Coal Corporation. ) Tj ET Q q 0 0 0 rg BT 302.47 644.25 Td (The North ) Tj ET Q q 0 0 0 rg BT 345.80 644.25 Td (American Coal Corporation and its af) Tj ET Q q 0 0 0 rg BT 496.41 644.25 Td (filiated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 632.25 Td (companies \(collectively) Tj ET Q q 0 0 0 rg BT 148.59 632.25 Td (, NACoal\) operate surface mines that supply coal primarily to power generation companies under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 620.25 Td (long-term contracts, and provide other value-added services to natural resource companies. In addition, its North ) Tj ET Q q 0 0 0 rg BT 509.13 620.25 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 608.25 Td (Mining \("NAM"\) business operates and maintains draglines and other equipment under contracts with sellers of aggregates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 590.25 Td (On September 29, 2017, the Company spun-of) Tj ET Q q 0 0 0 rg BT 240.46 590.25 Td (f Hamilton Beach Brands Holding Company \("HBBHC"\), a former wholly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.25 Td (owned subsidiary) Tj ET Q q 0 0 0 rg BT 123.62 578.25 Td (. ) Tj ET Q q 0 0 0 rg BT 128.07 578.25 Td (As a result of the spin-of) Tj ET Q q 0 0 0 rg BT 227.03 578.25 Td (f, NACCO stockholders received one share of HBBHC Class ) Tj ET Q q 0 0 0 rg BT 474.21 578.25 Td (A) Tj ET Q q 0 0 0 rg BT 480.88 578.25 Td ( common stock and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 566.25 Td (one share of HBBHC Class B common stock for each share ofNACCO Class ) Tj ET Q q 0 0 0 rg BT 367.29 566.25 Td (A) Tj ET Q q 0 0 0 rg BT 373.96 566.25 Td ( or Class B common stock owned on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 554.25 Td (record date for the spin-of) Tj ET Q q 0 0 0 rg BT 158.22 554.25 Td (f.) Tj ET Q q 0 0 0 rg BT 166.37 554.25 Td (The financial position, results of operations and cash flows of HBBHC are reflected as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 542.25 Td (discontinued operations for all periods presented through the date of the spin-of) Tj ET Q q 0 0 0 rg BT 372.34 542.25 Td (f. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 518.25 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 103.46 518.25 Td ( ) Tj ET Q q 0 0 0 rg BT 105.41 518.25 Td (ACCOUNTING POLICIES ) Tj ET Q q 0 0 0 rg BT 227.10 518.25 Td (AND ESTIMA) Tj ET Q q 0 0 0 rg BT 289.97 518.25 Td (TES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 500.25 Td (The Company's discussion and analysis of its financial condition and results of operations are based upon the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 488.25 Td (consolidated financial statements, which have been prepared in accordance with U.S. generally accepted accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 476.25 Td (principles. ) Tj ET Q q 0 0 0 rg BT 98.25 476.25 Td (The preparation of these financial statements requires the Company to make estimates and judgments that af) Tj ET Q q 0 0 0 rg BT 531.54 476.25 Td (fect the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 464.25 Td (reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities \(if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 452.25 Td (any\). On an ongoing basis, the Company evaluates its estimates based on historical experience, actuarial valuations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 440.25 Td (various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 428.25 Td (making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. ) Tj ET Q q 0 0 0 rg BT 521.36 428.25 Td (Actual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 416.25 Td (results may dif) Tj ET Q q 0 0 0 rg BT 113.25 416.25 Td (fer from those estimates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 398.25 Td (The Company believes the following critical accounting policies af) Tj ET Q q 0 0 0 rg BT 322.62 398.25 Td (fect its more significant judgments and estimates used in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 386.25 Td (the preparation of its consolidated financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 368.25 Td (Revenue r) Tj ET Q q 0 0 0 rg BT 97.42 368.25 Td (ecognition:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.63 368.25 Td ( Revenues are recognized when control of the promised goods or services is transferred to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 356.25 Td (Company) Tj ET Q q 0 0 0 rg BT 95.67 356.25 Td (s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 344.25 Td (those goods or services. ) Tj ET Q q 0 0 0 rg BT 151.86 344.25 Td (The Company accounts for revenue in accordance with ) Tj ET Q q 0 0 0 rg BT 374.55 344.25 Td (Accounting Standards Codification \("ASC"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 332.25 Td (T) Tj ET Q q 0 0 0 rg BT 59.41 332.25 Td (opic 606, "Revenue from Contracts with Customers", which NACCO adopted on January 1, 2018, using the modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 320.25 Td (retrospective method. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.14 320.25 Td (See Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.01 320.25 Td ( to the Consolidated Financial Statements in this Form 10-K for further discussion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 308.25 Td (impact of ) Tj ET Q q 0 0 0 rg BT 93.99 308.25 Td (ASC 606 on the Company's revenue recognition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 287.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 76.03 287.25 Td (ement benefit plans:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.69 287.25 Td ( ) Tj ET Q q 0 0 0 rg BT 165.01 287.25 Td (The Company maintains various defined benefit pension plans that provide benefits based on years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 275.25 Td (of service and average compensation during certain periods. ) Tj ET Q q 0 0 0 rg BT 296.41 275.25 Td (All pension benefits are frozen. ) Tj ET Q q 0 0 0 rg BT 424.51 275.25 Td (The Company's policy is to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 263.25 Td (periodically make contributions to fund the defined benefit pension plans within the range allowed by applicable regulations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 251.25 Td (The defined benefit pension plan assets consist primarily of publicly traded stocks and government and corporate bonds. ) Tj ET Q q 0 0 0 rg BT 538.14 251.25 Td (There ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 239.25 Td (is no guarantee the actual return on the plans) Tj ET Q q 0 0 0 rg BT 235.41 239.25 Td ( assets will equal the expected long-term rate of return on plan assets or that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 227.25 Td (plans will not incur investment losses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 206.25 Td (The expected long-term rate of return on defined benefit plan assets reflects management's expectations of long-term rates of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 194.25 Td (return on funds invested to provide for benefits included in the projected benefit obligations. In establishing the expected long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 182.25 Td (term rate of return assumption for plan assets, the Company considers the historical rates of return over a period of time that is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 170.25 Td (consistent with the long-term nature of the underlying obligations of these plans as well as a forward-looking rate of return. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 158.25 Td (The historical and forward-looking rates of return for each of the asset classes used to determine the Company's estimated rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 146.25 Td (of return assumption were based upon the rates of return earned or expected to be earned by investments in the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 134.25 Td (benchmark market indices for each of the asset classes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 113.25 Td (Expected returns for pension plans are based on a calculated market-related value of assets. Under this methodology) Tj ET Q q 0 0 0 rg BT 518.46 113.25 Td (, asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 101.25 Td (gains and losses resulting from actual returns that dif) Tj ET Q q 0 0 0 rg BT 265.44 101.25 Td (fer from the Company's expected returns are recognized in the market-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 89.25 Td (related value of assets ratably over three years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 71.25 Td (The basis for the selection of the discount rate for each plan is determined by matching the timing of the payment of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 59.25 Td (expected obligations under the defined benefit plans and health care plans against the corresponding yield of high-quality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 47.25 Td (corporate bonds of equivalent maturities.) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (Changes to the estimate of any of these factors could result in a material change to the Company's pension obligation causing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (a related increase or decrease in future net operating results. Because the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.42 674.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.42 674.10 Td ( assumptions are used to calculate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.71 674.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.71 674.10 Td ( pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 662.10 Td (expense amounts, a one percentage-point change in the expected long-term rate of return on plan assets would result in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (change in pension expense for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.57 650.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.57 650.10 Td ( of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.16 650.10 Td ($0.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.05 650.10 Td ( for the plans. ) Tj ET Q q 0 0 0 rg BT 376.98 650.10 Td (A) Tj ET Q q 0 0 0 rg BT 383.65 650.10 Td ( one percentage-point change in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.10 Td (discount rate would result in a change in pension expense for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.88 638.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.88 638.10 Td ( by less than $0.1 million. ) Tj ET Q q 0 0 0 rg BT 426.43 638.10 Td (A) Tj ET Q q 0 0 0 rg BT 433.10 638.10 Td ( one percentage-point increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.10 Td (in the discount rate would have lowered the plans) Tj ET Q q 0 0 0 rg BT 254.86 626.10 Td ( projected benefit obligation as of the end of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.53 626.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.53 626.10 Td ( by approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.79 626.10 Td ($4.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 614.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.89 614.10 Td (; while a one percentage-point decrease in the discount rate would have raised the plans) Tj ET Q q 0 0 0 rg BT 435.90 614.10 Td ( projected benefit obligation as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 602.10 Td (of the end of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.32 602.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.32 602.10 Td ( by approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.57 602.10 Td ($4.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.47 602.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.47 602.10 Td (See Note 14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.34 602.10 Td ( to the Consolidated Financial Statements in this Form 10-K for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 590.10 Td (further discussion of the Company's retirement benefit plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 572.10 Td (The Company also maintains health care plans which provide benefits to eligible retired employees. ) Tj ET Q q 0 0 0 rg BT 455.83 572.10 Td (All health care plans of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 560.10 Td (the Company have a cap on the Company's share of the costs. ) Tj ET Q q 0 0 0 rg BT 303.06 560.10 Td (These plans have no assets. Under the Company's current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 548.10 Td (policy) Tj ET Q q 0 0 0 rg BT 78.35 548.10 Td (, plan benefits are funded at the time they are due to participants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 530.10 Td (All eligible employees of the Company) Tj ET Q q 0 0 0 rg BT 210.82 530.10 Td (, including employees whose pension benefits are frozen, receive retirement benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 518.10 Td (under defined contribution retirement plans. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (Self-insurance liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.83 500.10 Td ( ) Tj ET Q q 0 0 0 rg BT 162.15 500.10 Td (The Company is generally self-insured for medical claims, certain workers) Tj ET Q q 0 0 0 rg BT 464.08 500.10 Td ( compensation claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 488.10 Td (and certain closed mine liabilities. ) Tj ET Q q 0 0 0 rg BT 192.85 488.10 Td (An estimated provision for claims reported and for claims incurred but not yet reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 476.10 Td (under the self-insurance programs is recorded and revised periodically based on industry trends, historical experience and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 464.10 Td (management judgment. In addition, industry trends are considered within management's judgment for valuing claims. Changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 452.10 Td (in assumptions for such matters as legal judgments and settlements, inflation rates, medical costs and actual experience could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 440.10 Td (cause estimates to change in the near term. Changes in any of these factors could materially change the Company's estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 428.10 Td (for these self-insurance obligations causing a related increase or decrease in reported net operating results in the period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 416.10 Td (change in the estimate.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 398.10 Td (Accounting for) Tj ET Q q 0 0 0 rg BT 117.98 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 119.93 398.10 Td (Asset Retir) Tj ET Q q 0 0 0 rg BT 167.23 398.10 Td (ement Obligations: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.11 398.10 Td (The Company's asset retirement obligations are principally for costs to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 386.10 Td (dismantle certain mining equipment at the end of the life of the mine as well as for costs to close its surface mines and reclaim ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 374.10 Td (the land it has disturbed as a result of its normal mining activities. Under certain federal and state regulations, the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 362.10 Td (required to reclaim land disturbed as a result of mining. ) Tj ET Q q 0 0 0 rg BT 278.48 362.10 Td (The Company determined the amounts of these obligations based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 350.10 Td (cost estimates, adjusted for inflation, projected to the estimated closure dates, and then discounted using a credit-adjusted risk-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 338.10 Td (free interest rate. Changes in any of these estimates could materially change the Company's estimates for these asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 326.10 Td (retirement obligations causing a related increase or decrease in reported net operating results in the period of change in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 314.10 Td (estimate. ) Tj ET Q q 0 0 0 rg BT 92.14 314.10 Td (The accretion of the liability is being recognized over the estimated life of each individual asset retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 302.10 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 99.37 302.10 Td (The Company has capitalized an asset) Tj ET Q q 0 0 0 rg BT 254.60 302.10 Td (s retirement cost as part of the cost of the related long-lived asset. ) Tj ET Q q 0 0 0 rg BT 519.33 302.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 290.10 Td (capitalized amounts are subsequently amortized to expense using a systematic and rational method.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 272.10 Td (Bellaire Corporation \(Bellaire\) is a non-operating subsidiary of the Company with legacy liabilities relating to closed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 260.10 Td (mining operations, primarily former Eastern U.S. under) Tj ET Q q 0 0 0 rg BT 276.27 260.10 Td (ground coal mining operations. ) Tj ET Q q 0 0 0 rg BT 403.56 260.10 Td (These legacy liabilities include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 248.10 Td (obligations for water treatment and other environmental remediation that arose as part of the normal course of closing these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 236.10 Td (under) Tj ET Q q 0 0 0 rg BT 76.59 236.10 Td (ground mining operations. ) Tj ET Q q 0 0 0 rg BT 184.73 236.10 Td (The Company determined the amounts of these obligations based on cost estimates, adjusted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 224.10 Td (for inflation, and then discounted using a credit-adjusted risk-free interest rate. ) Tj ET Q q 0 0 0 rg BT 370.66 224.10 Td (The accretion of the liability is recognized over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 212.10 Td (the estimated life of the asset retirement obligation. Since Bellaire's properties are no longer active operations, no associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 200.10 Td (asset has been capitalized. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 182.10 Td (Changes in any of these estimates could materially change the Company's estimates for these asset retirement obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 170.10 Td (causing a related increase or decrease in reported net operating income in the period of change in the estimate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.70 170.10 Td (See Note 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.57 170.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 158.10 Td (the Consolidated Financial Statements in this Form 10-K for further discussion of the Company's asset retirement obligations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 140.10 Td (Long-lived assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.39 140.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.71 140.10 Td (The Company periodically evaluates long-lived assets for impairment when changes in circumstances or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 128.10 Td (the occurrence of certain events indicate the carrying amount of an asset may not be recoverable. Upon identification of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 116.10 Td (indicators of impairment, the Company evaluates the carrying value of the asset by comparing the estimated future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 104.10 Td (undiscounted cash flows generated from the use of the asset and its eventual disposition with the asset's net carrying value. If ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 92.10 Td (the carrying value of an asset is considered impaired, an impairment char) Tj ET Q q 0 0 0 rg BT 346.49 92.10 Td (ge is recorded for the amount that the carrying value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 80.10 Td (of the long-lived asset exceeds its fair value. Fair value is estimated as the price that would be received to sell an asset or paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 68.10 Td (to transfer a liability in an orderly transaction between market participants at the measurement date.) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (Centennial ceased coal production at the end of 2015. ) Tj ET Q q 0 0 0 rg BT 270.97 686.10 Td (The Company recognized an impairment char) Tj ET Q q 0 0 0 rg BT 454.33 686.10 Td (ge of$1.0 million during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (2017 to reduce the value of Centennial's remaining equipment to zero. ) Tj ET Q q 0 0 0 rg BT 337.20 674.10 Td (The asset impairment char) Tj ET Q q 0 0 0 rg BT 442.81 674.10 Td (ge was recorded as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 662.10 Td ("Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 191.47 662.10 Td (ge" in the Consolidated Statements of Operations. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.78 662.10 Td (Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.72 662.10 Td ( to the Consolidated Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (Statements in this Form 10-K for further discussion of the Company's asset impairment char) Tj ET Q q 0 0 0 rg BT 423.06 650.10 Td (ge.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 632.10 Td (Income taxes:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.15 632.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.47 632.10 Td (The Company has included a portion of HBBHC's U.S. operating results in the 2017 consolidated federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 620.10 Td (income tax return filed by NACCO. ) Tj ET Q q 0 0 0 rg BT 200.18 620.10 Td (The Company's allocation of taxes through the spin-of) Tj ET Q q 0 0 0 rg BT 417.58 620.10 Td (f date is in accordance with the ) Tj ET Q q 0 0 0 rg BT 544.29 620.10 Td (T) Tj ET Q q 0 0 0 rg BT 549.70 620.10 Td (ax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 608.10 Td (Allocation ) Tj ET Q q 0 0 0 rg BT 98.16 608.10 Td (Agreement. In general, the ) Tj ET Q q 0 0 0 rg BT 207.37 608.10 Td (T) Tj ET Q q 0 0 0 rg BT 212.78 608.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 224.17 608.10 Td (Allocation ) Tj ET Q q 0 0 0 rg BT 268.33 608.10 Td (Agreement between the Company and HBBHC provides that federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 596.10 Td (income taxes are computed by the Company as if it had filed a tax return on a standalone basis. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.10 Td (T) Tj ET Q q 0 0 0 rg BT 59.41 578.10 Td (ax law requires certain items to be included in the tax return at dif) Tj ET Q q 0 0 0 rg BT 322.75 578.10 Td (ferent times than the items are reflected in the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 566.10 Td (statements. Some of these dif) Tj ET Q q 0 0 0 rg BT 171.29 566.10 Td (ferences are permanent, such as expenses that are not deductible for tax purposes, and some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 554.10 Td (dif) Tj ET Q q 0 0 0 rg BT 64.93 554.10 Td (ferences are temporary) Tj ET Q q 0 0 0 rg BT 155.88 554.10 Td (, reversing over time, such as depreciation expense. ) Tj ET Q q 0 0 0 rg BT 364.24 554.10 Td (These temporary dif) Tj ET Q q 0 0 0 rg BT 445.14 554.10 Td (ferences create deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 542.10 Td (assets and liabilities ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 136.49 542.10 Td (using currently enacted tax rates) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 265.88 542.10 Td (. ) Tj ET Q q 0 0 0 rg BT 270.69 542.10 Td (The objective of accounting for income taxes is to recognize the amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 530.10 Td (of taxes payable or refundable for the current year) Tj ET Q q 0 0 0 rg BT 254.05 530.10 Td (, and deferred tax liabilities and assets for the future tax consequences of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 518.10 Td (events that have been recognized in the financial statements or tax returns. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 353.98 518.10 Td (The ef) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 379.62 518.10 Td (fect of a change in tax rates on deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 506.10 Td (assets and liabilities is recognized in the provision for income taxes in the period that includes the enactment date. ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 494.10 Td (Management is required to estimate the timing of the recognition of deferred tax assets and liabilities, make assumptions about ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 482.10 Td (the future deductibility of deferred tax assets and assess deferred tax liabilities based on enacted law and tax rates for the ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 470.10 Td (appropriate tax jurisdictions to determine the amount of such deferred tax assets and liabilities. Changes in the calculated ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 458.10 Td (deferred tax assets and liabilities may occur in certain circumstances, including statutory income tax rate changes, statutory tax ) Tj ET Q BT /F1 10.00 Tf ET q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 446.10 Td (law changes, or chan) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 137.85 446.10 Td (ges in the structure or tax status.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 428.10 Td (The Company's tax assets, liabilities, and tax expense are supported by historical earnings and losses and the Company's best ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 416.10 Td (estimates and assumptions of future earnings. ) Tj ET Q q 0 0 0 rg BT 238.50 416.10 Td (The Company assesses whether a valuation allowance should be established ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 404.10 Td (against its deferred tax assets based on consideration of all available evidence, both positive and negative, using a more likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 392.10 Td (than not standard. ) Tj ET Q q 0 0 0 rg BT 127.69 392.10 Td (This assessment considers, among other matters, scheduled reversals of deferred tax liabilities, projected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 380.10 Td (future taxable income, tax-planning strategies, and results of recent operations. ) Tj ET Q q 0 0 0 rg BT 371.76 380.10 Td (The assumptions about future taxable income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 368.10 Td (require significant judgment and are consistent with the plans and estimates the Company is using to manage the underlying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 356.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 101.04 356.10 Td (When the Company determines, based on all available evidence, that it is more likely than not that deferred tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 344.10 Td (assets will not be realized, a valuation allowance is established.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 326.10 Td (Since significant judgment is required to assess the future tax consequences of events that have been recognized in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 314.10 Td (Company's financial statements or tax returns, the ultimate resolution of these events could result in adjustments to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 302.10 Td (Company's financial statements and such adjustments could be material. ) Tj ET Q q 0 0 0 rg BT 345.55 302.10 Td (The Company believes the current assumptions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 290.10 Td (judgments and other considerations used to estimate the current year accrued and deferred tax positions are appropriate. If the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 278.10 Td (actual outcome of future tax consequences dif) Tj ET Q q 0 0 0 rg BT 237.63 278.10 Td (fers from these estimates and assumptions, due to changes or future events, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 266.10 Td (resulting change to the provision for income taxes could have a material impact on the Company's results of operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 254.10 Td (financial position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 236.10 Td (During 2017, the U.S. government enacted the ) Tj ET Q q 0 0 0 rg BT 242.66 236.10 Td (T) Tj ET Q q 0 0 0 rg BT 248.07 236.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 317.52 236.10 Td (Act \(TCJA\), which significantly revised U.S. tax law) Tj ET Q q 0 0 0 rg BT 538.48 236.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 224.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 63.26 224.10 Td (fective January 1, 2018, the ) Tj ET Q q 0 0 0 rg BT 176.09 224.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 199.43 224.10 Td ( positively impacted the Company) Tj ET Q q 0 0 0 rg BT 339.41 224.10 Td (s ongoing ef) Tj ET Q q 0 0 0 rg BT 388.67 224.10 Td (fective income tax rate due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 212.10 Td (reduction of the U.S. corporate tax rate from 35 percent to 21 percent. In addition, other significant changes to existing tax law ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 200.10 Td (include \(1\) elimination of the alternative minimum tax regime for corporations; \(2\) limitations on the deductibility of certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 188.10 Td (executive compensation for publicly traded companies; \(3\) accelerated expensing of capital investment, subject to phase-out ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 176.10 Td (beginning in 2023; \(4\) a new limitation on deductible interest expense; and \(5\) changes in utilization of net operating losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 164.10 Td (generated after December 31, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 144.10 Td (As a result of the ) Tj ET Q q 0 0 0 rg BT 124.63 144.10 Td (TCJA, the Company recorded a discrete net tax benefit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.17 144.10 Td ($3.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.06 144.10 Td ( in the period ending December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 132.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 78.82 132.10 Td (This net benefit is attributable to the corporate rate reduction on existing deferred tax assets and liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.46 132.10 Td (See Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 555.33 132.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 120.10 Td (to the Consolidated Financial Statements in this Form 10-K for further discussion of the Company's income taxes. ) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 686.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 113.82 686.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 193.00 686.25 Td ( SUMMAR) Tj ET Q q 0 0 0 rg BT 241.26 686.25 Td (Y) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 662.25 Td (All of NACCO's revenues are attributable to NACoal. ) Tj ET Q q 0 0 0 rg BT 272.14 662.25 Td (As a result, the Company's results of operations, including revenues, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.25 Td (operating profit \(loss\) and other expense, net, for NACoal and NACCO and Other are discussed below in "Segment Results." ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.25 Td (Income taxes are analyzed on a consolidated basis. ) Tj ET Q q 0 0 0 rg BT 259.57 638.25 Td (The results of operations for NACCO were as follows for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.25 Td (December 31:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 597.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 597.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 597.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 597.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 569.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 569.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 569.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 569.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 541.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 541.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 541.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 541.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 513.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 513.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 513.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 513.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 485.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 485.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 485.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 485.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 457.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 457.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 457.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 457.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 429.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 429.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 429.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 429.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 53.25 401.75 370.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 401.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.25 401.75 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.25 401.75 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 597.75 m 488.25 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 597.75 m 562.25 597.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 569.75 m 562.25 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 569.75 m 488.25 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 569.75 m 562.25 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 499.75 m 488.25 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 499.75 m 562.25 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 499.75 m 488.25 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 485.75 m 488.25 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 499.75 m 562.25 499.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 485.75 m 562.25 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 457.75 m 488.25 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 457.75 m 562.25 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 429.75 m 488.25 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 416.75 m 488.25 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.25 414.75 m 488.25 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 429.75 m 562.25 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 416.75 m 562.25 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.25 414.75 m 562.25 414.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 55.75 601.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 447.25 601.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.25 601.70 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 588.32 Td ( NACoal operating profit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.75 588.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.25 588.43 Td (50,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.75 588.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.90 588.32 Td (39,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 574.32 Td ( NACCO and Other operating loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.90 574.43 Td (\(6,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.75 574.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.55 574.37 Td (\(6,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.40 574.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 560.32 Td (Operating profit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.25 560.43 Td (43,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.90 560.32 Td (32,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 546.32 Td ( Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.25 546.43 Td (1,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.90 546.32 Td (3,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 532.32 Td ( Income from other unconsolidated af) Tj ET Q q 0 0 0 rg BT 211.44 532.32 Td (filiates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.90 532.43 Td (\(1,276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.75 532.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.55 532.37 Td (\(1,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.40 532.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 518.32 Td ( Closed mine obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.25 518.43 Td (1,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.90 518.32 Td (1,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 504.32 Td ( Other) Tj ET Q q 0 0 0 rg BT 85.82 504.32 Td (, net, including interest income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.40 504.43 Td (\(558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.75 504.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.05 504.37 Td (\(72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.40 504.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 490.32 Td (Other expense, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.25 490.43 Td (1,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.75 490.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.90 490.32 Td (3,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 476.32 Td (Income before income tax provision) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.25 476.43 Td (42,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.90 476.32 Td (29,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 462.32 Td (Income tax provision) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.25 462.43 Td (7,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.40 462.32 Td (639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 448.32 Td (Income from continuing operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.75 448.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.25 448.43 Td (34,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.75 448.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.90 448.32 Td (28,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 434.32 Td (Discontinued operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.75 434.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.90 434.32 Td (1,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 420.32 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.75 420.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.25 420.43 Td (34,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.75 420.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.90 420.32 Td (30,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.75 392.32 Td (Ef) Tj ET Q q 0 0 0 rg BT 65.01 392.32 Td (fective income tax rate from continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.25 392.43 Td (17.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.75 392.43 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.90 392.32 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.40 392.32 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 54.00 366.25 Td (Income ) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 87.98 366.25 Td (T) Tj ET Q q 0.1450980392156863 0.1450980392156863 0.1450980392156863 rg BT 93.73 366.25 Td (axes) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 54.00 342.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 113.71 342.25 Td (s ef) Tj ET Q q 0 0 0 rg BT 127.69 342.25 Td (fective income tax rate in 2018 dif) Tj ET Q q 0 0 0 rg BT 265.24 342.25 Td (fers from the U.S. federal statutory rate of 21% primarily as a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 330.25 Td (benefit of percentage depletion. In addition, discrete items recognized during 2018 unfavorably impacted the ef) Tj ET Q q 0 0 0 rg BT 501.71 330.25 Td (fective income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 318.25 Td (tax rate. Discrete items totaled $1.2 million in 2018, primarily related to an additional valuation allowance provided against ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 306.25 Td (deferred tax assets in India as the Company had previously determined that such deferred tax assets do not meet the more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 294.25 Td (likely than not standard for realization.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 269.05 Td (The Company applies the intraperiod tax allocation rules as described in ) Tj ET Q q 0 0 0 rg BT 345.30 269.05 Td (ASC 740-20 Intraperiod ) Tj ET Q q 0 0 0 rg BT 449.27 269.05 Td (T) Tj ET Q q 0 0 0 rg BT 454.68 269.05 Td (ax ) Tj ET Q q 0 0 0 rg BT 466.07 269.05 Td (Allocation to allocate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 257.05 Td (the provision for income taxes between continuing operations and discontinued operations in 2017. ) Tj ET Q q 0 0 0 rg BT 452.80 257.05 Td (As a result of the spin-of) Tj ET Q q 0 0 0 rg BT 551.77 257.05 Td (f ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 245.05 Td (of HBBHC, the Company used the with and without approach to compute total tax income expense for 2017. ) Tj ET Q q 0 0 0 rg BT 504.55 245.05 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 233.05 Td (calculated income tax expense from all financial statement components \(continuing operations and discontinued operations\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 221.05 Td (the with approach, and compared that to the income tax expense attributable to continuing operations, the without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 209.05 Td (approach. ) Tj ET Q q 0 0 0 rg BT 95.46 209.05 Td (The dif) Tj ET Q q 0 0 0 rg BT 124.44 209.05 Td (ference between the with and without was allocated to discontinued operations. ) Tj ET Q q 0 0 0 rg BT 461.91 209.05 Td (While intraperiod tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 197.05 Td (allocations do not change the overall tax provision, the allocation of income tax expense between continuing operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 185.05 Td (discontinued operations produces results that are not indicative of future expectations following the spin-of) Tj ET Q q 0 0 0 rg BT 482.32 185.05 Td (f.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 165.05 Td (See Note 13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.88 165.05 Td ( to the Consolidated Financial Statements in this Form 10-K for further discussion of the Company's income taxes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 141.05 Td (LIQUIDITY) Tj ET Q q 0 0 0 rg BT 108.09 141.05 Td ( ) Tj ET Q q 0 0 0 rg BT 110.04 141.05 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 164.57 141.05 Td (AL) Tj ET Q q 0 0 0 rg BT 177.91 141.05 Td ( RESOURCES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 115.85 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 115.85 Td (Cash Flows) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (The following tables detail the change in cash flow for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.73 686.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.32 686.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 662.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 662.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 662.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 662.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 632.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 632.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 632.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 632.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 602.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 602.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 602.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 602.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 572.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 572.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 572.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 572.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 542.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 542.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 542.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 542.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 512.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 512.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 512.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 512.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 482.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 482.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 482.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 482.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 452.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 452.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 452.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 452.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 452.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 452.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 422.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 422.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 422.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 422.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 422.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 422.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 662.6 m 434.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 662.6 m 498.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 662.6 m 562.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 527.6 m 434.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 527.6 m 498.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 527.6 m 562.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 437.6 m 498.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 437.6 m 562.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 437.6 m 434.5 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 393.6 m 434.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 391.6 m 434.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 393.6 m 498.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 391.6 m 498.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 393.6 m 562.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 391.6 m 562.5 391.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 666.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.00 666.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.00 666.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.75 666.85 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 652.28 Td (Operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 652.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 637.27 Td (Income from continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 637.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 637.28 Td (34,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 637.27 Td (28,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 637.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 637.27 Td (6,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 622.27 Td (Depreciation, depletion and amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 622.28 Td (14,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 622.27 Td (12,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 622.27 Td (1,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 607.27 Td (Deferred income taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 607.28 Td (9,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 607.27 Td (4,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 607.27 Td (5,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 592.27 Td (Stock-based compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 592.28 Td (3,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 592.27 Td (4,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 592.32 Td (\(562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 592.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 577.27 Td (Gain on sale of assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.30 577.33 Td (\(892) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 577.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 577.32 Td (\(5,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 577.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 577.27 Td (4,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 562.27 Td (Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 190.47 562.27 Td (ge) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.65 562.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 562.27 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 562.32 Td (\(982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 562.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 547.27 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 547.33 Td (\(7,612) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 547.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 547.27 Td (1) Tj ET Q q 0 0 0 rg BT 472.15 547.27 Td (1,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 547.32 Td (\(19,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 547.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 532.27 Td (W) Tj ET Q q 0 0 0 rg BT 66.04 532.27 Td (orking capital changes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 532.28 Td (419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 532.32 Td (\(8,460) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 532.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 532.27 Td (8,879) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 517.28 Td (Net cash pr) Tj ET Q q 0 0 0 rg BT 105.79 517.28 Td (ovided by operating activities of continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 517.28 Td (54,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 517.27 Td (49,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 517.27 Td (5,617) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 487.28 Td (Investing activities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 487.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 487.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 487.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 472.27 Td (Expenditures for property) Tj ET Q q 0 0 0 rg BT 159.98 472.27 Td (, plant and equipment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.80 472.33 Td (\(20,930) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 472.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 472.32 Td (\(15,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 472.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 472.32 Td (\(5,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 472.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 457.27 Td (Proceeds from the sale of assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 457.28 Td (1,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 457.27 Td (3,956) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 457.32 Td (\(2,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 457.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 442.27 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 442.28 Td (1,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 442.27 Td (1,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 442.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 427.28 Td (Net cash used for) Tj ET Q q 0 0 0 rg BT 130.51 427.28 Td ( investing activities of continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.80 427.33 Td (\(18,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 427.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 427.32 Td (\(10,660) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 427.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 427.32 Td (\(7,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 427.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 397.28 Td (Cash flow befor) Tj ET Q q 0 0 0 rg BT 124.59 397.28 Td (e financing activities of continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 397.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 397.28 Td (36,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 397.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 397.27 Td (38,345) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 397.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 397.32 Td (\(2,1) Tj ET Q q 0 0 0 rg BT 548.63 397.32 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 397.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 369.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.05 369.10 Td ($5.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.94 369.10 Td ( increase in net cash provided by operating activities of continuing operations was primarily the result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 357.10 Td (favorable working capital changes, an increase in income from continuing operations and changes in deferred income taxes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 345.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 97.97 345.10 Td (fset by the change in other) Tj ET Q q 0 0 0 rg BT 203.21 345.10 Td (. ) Tj ET Q q 0 0 0 rg BT 208.03 345.10 Td (W) Tj ET Q q 0 0 0 rg BT 216.67 345.10 Td (orking capital increased primarily due to a decrease in accounts receivable from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 333.10 Td (af) Tj ET Q q 0 0 0 rg BT 61.59 333.10 Td (filiates, specifically attributable to payments from HBBHC and Bisti Fuels Company) Tj ET Q q 0 0 0 rg BT 401.16 333.10 Td (, LLC, during 2018. ) Tj ET Q q 0 0 0 rg BT 483.48 333.10 Td (The change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 321.10 Td (other was primarily attributable to a decrease in investment in unconsolidated subsidiaries as a result of changes in deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 309.10 Td (taxes during 2017. ) Tj ET Q q 0 0 0 rg BT 130.47 309.10 Td (The income taxes resulting from the operations of both the consolidated and the unconsolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 297.10 Td (subsidiaries are solely the responsibility of the Company) Tj ET Q q 0 0 0 rg BT 280.25 297.10 Td (. Due to the fact that all of the Company) Tj ET Q q 0 0 0 rg BT 444.10 297.10 Td (s subsidiaries are included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 285.10 Td (NACCO) Tj ET Q q 0 0 0 rg BT 91.78 285.10 Td (s consolidated federal income tax return, intercompany receivables/payables, as well as the investment in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 273.10 Td (unconsolidated subsidiaries and related tax positions, can fluctuate significantly based on changes in income taxes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 249.10 Td (The increase in net cash used for investing activities of continuing operations was primarily attributable to an increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 237.10 Td (expenditures for property) Tj ET Q q 0 0 0 rg BT 154.98 237.10 Td (, plant and equipment at MLMC and NAM's consolidated operations in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.85 237.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.85 237.10 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.55 237.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.55 237.10 Td ( as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 225.10 Td (well as a reduction in proceeds from the sale of assets. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 201.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 201.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 201.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 201.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 201.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 201.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 171.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 171.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 171.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 171.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 171.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 171.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 140.60 320.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 140.60 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 140.60 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 140.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 140.60 60.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 201.60000000000002 m 434.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 201.60000000000002 m 498.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 201.60000000000002 m 562.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 124.60000000000002 m 434.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 124.60000000000002 m 498.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 124.60000000000002 m 562.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 109.60000000000002 m 434.5 109.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 107.60000000000002 m 434.5 107.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 109.60000000000002 m 498.5 109.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 107.60000000000002 m 498.5 107.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 109.60000000000002 m 562.5 109.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 107.60000000000002 m 562.5 107.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 205.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.00 205.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.00 205.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.75 205.85 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 191.27 Td (Financing activities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 191.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 191.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 191.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 176.27 Td (Net reductions to long-term debt and revolving credit agreements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 176.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.80 176.33 Td (\(46,729) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 176.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 176.32 Td (\(36,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 176.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 176.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 176.32 Td (\(10,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 176.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 161.27 Td (Cash dividends paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 161.33 Td (\(4,578) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 161.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 161.32 Td (\(6,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 161.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 161.27 Td (2,104) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 145.27 Td (Cash dividends received from HBBHC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.65 145.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 145.27 Td (38,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 145.32 Td (\(38,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 145.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 129.27 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 129.33 Td (\(1,271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 129.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 129.32 Td (\(1,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 129.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 129.27 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 113.28 Td (Net cash used for) Tj ET Q q 0 0 0 rg BT 130.42 113.28 Td ( financing activities of continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 113.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.80 113.33 Td (\(52,578) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 113.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 113.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.80 113.32 Td (\(6,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 113.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 113.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 113.32 Td (\(46,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 113.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 85.10 Td (The change in net cash used for financing activities of continuing operations was primarily from reductions in the cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 73.10 Td (dividends received from HBBHC and the repayment of borrowings on NACoal's revolving credit facility during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.42 73.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.42 73.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 61.10 Td (compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 116.20 61.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.20 61.10 Td (. On September 28, 2017, prior to the spin-of) Tj ET Q q 0 0 0 rg BT 318.77 61.10 Td (f, HBBHC paid NACCO a one-time $35.0 million cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 49.10 Td (dividend. ) Tj ET Q q 0 0 0 rg BT 93.81 49.10 Td (This payment was in addition to $3.0 million in dividends HBBHC paid to NACCO in the first six months of 2017.) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (Financing ) Tj ET Q q 0 0 0 rg BT 98.74 674.10 Td (Activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 662.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (Financing arrangements are obtained and maintained at the subsidiary level. NACCO has not guaranteed any borrowings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.10 Td (NACoal. ) Tj ET Q q 0 0 0 rg BT 92.15 638.10 Td (The borrowing agreements at NACoal allow for the payment to NACCO of dividends and advances under certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.10 Td (circumstances. Dividends \(to the extent permitted by NACoal's borrowing agreement\) and management fees are the primary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 614.10 Td (sources of cash for NACCO and enable the Company to pay dividends to stockholders.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 590.10 Td (The Company believes funds available from cash on hand, the NACoal Facility and operating cash flows will provide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.10 Td (suf) Tj ET Q q 0 0 0 rg BT 66.04 578.10 Td (ficient liquidity to meet its operating needs and commitments arising during the next twelve months and until the expiration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 566.10 Td (of the NACoal Facility) Tj ET Q q 0 0 0 rg BT 145.28 566.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 545.10 Td (NACoal has an unsecured revolving line of credit of up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.66 545.10 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.55 545.10 Td ( \(the NACoal Facility\) that expires in ) Tj ET Q q 0 0 0 rg BT 507.78 545.10 Td (August 2022. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 533.10 Td (Borrowings outstanding under the NACoal Facility were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.68 533.10 Td ($4.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.57 533.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.79 533.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.38 533.10 Td (. ) Tj ET Q q 0 0 0 rg BT 427.82 533.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.32 533.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.91 533.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 521.10 Td (excess availability under the NACoal Facility was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.00 521.10 Td ($144.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.89 521.10 Td (, which reflects a reduction for outstanding letters of credit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 509.10 Td ($1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.89 509.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 485.10 Td (The NACoal Facility has performance-based pricing, which sets interest rates based upon NACoal achieving various levels of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 473.10 Td (debt to EBITDA) Tj ET Q q 0 0 0 rg BT 120.10 473.10 Td ( ratios, as defined in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 283.86 473.10 Td (. Borrowings bear interest at a floating rate plus a mar) Tj ET Q q 0 0 0 rg BT 499.44 473.10 Td (gin based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 461.10 Td (the level of debt to EBITDA) Tj ET Q q 0 0 0 rg BT 167.58 461.10 Td ( ratio achieved. ) Tj ET Q q 0 0 0 rg BT 231.26 461.10 Td (The applicable mar) Tj ET Q q 0 0 0 rg BT 308.26 461.10 Td (gins, ef) Tj ET Q q 0 0 0 rg BT 337.52 461.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.22 461.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.81 461.10 Td (, for base rate and LIBOR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 449.10 Td (loans were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.54 449.10 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.37 449.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.81 449.10 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.64 449.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 223.30 449.10 Td (. ) Tj ET Q q 0 0 0 rg BT 228.12 449.10 Td (The NACoal Facility has a commitment fee which is based upon achieving various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 437.10 Td (levels of debt to EBITDA) Tj ET Q q 0 0 0 rg BT 156.76 437.10 Td ( ratios. ) Tj ET Q q 0 0 0 rg BT 186.29 437.10 Td (The commitment fee was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.15 437.10 Td (0.30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.98 437.10 Td ( on the unused commitment at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.29 437.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.87 437.10 Td (. ) Tj ET Q q 0 0 0 rg BT 522.69 437.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 425.10 Td (weighted average interest rate applicable to the NACoal Facility at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.34 425.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.92 425.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.48 425.10 Td (4.28%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.31 425.10 Td ( including the floating rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 413.10 Td (mar) Tj ET Q q 0 0 0 rg BT 69.37 413.10 Td (gin.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 389.10 Td (The NACoal Facility contains restrictive covenants, which require, among other things, NACoal to maintain a maximum debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 377.10 Td (to EBITDA) Tj ET Q q 0 0 0 rg BT 100.39 377.10 Td ( ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.54 377.10 Td (3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.04 377.10 Td ( to 1.00 and an interest coverage ratio of not less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.37 377.10 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.87 377.10 Td ( to 1.00. ) Tj ET Q q 0 0 0 rg BT 420.96 377.10 Td (The NACoal Facility provides the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 365.10 Td (ability to make loans, dividends and advances to NACCO, with some restrictions based on maintaining a maximum debt to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 353.10 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 90.11 353.10 Td ( ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.26 353.10 Td (2.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.76 353.10 Td ( to 1.00, or if greater than 2.00 to 1.00, a Fixed Char) Tj ET Q q 0 0 0 rg BT 350.70 353.10 Td (ge Coverage Ratio of 1.10 to 1.00, in conjunction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 341.10 Td (with maintaining unused availability thresholds of borrowing capacity) Tj ET Q q 0 0 0 rg BT 334.12 341.10 Td (, as defined in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 473.17 341.10 Td (, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 341.10 Td ($15.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.89 341.10 Td (. ) Tj ET Q q 0 0 0 rg BT 547.33 341.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 329.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.58 329.10 Td (, NACoal was in compliance with all financial covenants in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 453.80 329.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 305.10 Td (Capital Expenditur) Tj ET Q q 0 0 0 rg BT 136.89 305.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 281.10 Td (Following is a table which summarizes actual and planned capital expenditures \(in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 244.60 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 244.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 244.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 244.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 244.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 244.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 244.60000000000002 m 434.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 244.60000000000002 m 498.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 244.60000000000002 m 562.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 244.60000000000002 m 498.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 244.60000000000002 m 562.5 244.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.95 261.83 Td (Planned) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.65 261.83 Td (Actual) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.65 261.83 Td (Actual) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 248.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 396.00 248.83 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 248.83 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 524.00 248.83 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 234.27 Td (NACCO) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 234.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 234.27 Td (22.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 234.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.15 234.27 Td (20.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 234.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 234.27 Td (15.7) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 206.10 Td (Planned expenditures for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.47 206.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.47 206.10 Td ( primarily include land, mine machinery and equipment at MLMC and draglines and mine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 194.10 Td (machinery and equipment at NAM. ) Tj ET Q q 0 0 0 rg BT 198.22 194.10 Td (These expenditures are expected to be funded from internally generated funds and bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 182.10 Td (borrowings. Capital expenditures for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.69 182.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.69 182.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.13 182.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.13 182.10 Td ( are discussed above under Cash Flows.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 686.25 Td (Capital Structur) Tj ET Q q 0 0 0 rg BT 124.65 686.25 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 662.25 Td (NACCO's consolidated capital structure is presented below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 616.75 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 616.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 616.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 616.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 616.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 616.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 586.75 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 586.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 586.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 586.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 556.75 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 556.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 556.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 556.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 556.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 556.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 526.75 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 526.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.50 526.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 526.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 526.75 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 629.75 m 432.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432.5 629.75 m 436.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 629.75 m 494.5 629.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 616.75 m 432.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 616.75 m 494.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 616.75 m 562.5 616.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 571.75 m 432.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 571.75 m 494.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 571.75 m 562.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 526.75 m 432.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 526.75 m 494.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 526.75 m 562.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 512.75 m 432.5 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 510.75 m 432.5 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 512.75 m 494.5 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 510.75 m 494.5 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 512.75 m 562.5 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 510.75 m 562.5 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 510.75 m 494.5 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436.5 512.75 m 494.5 512.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 634.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.55 634.00 Td (December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.00 634.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 621.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.00 620.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.00 621.00 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 517.75 621.00 Td (Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 606.42 Td (Cash and cash equivalents) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 606.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.50 606.43 Td (85,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 606.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 606.42 Td (101,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 606.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 606.42 Td (\(16,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 606.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 591.42 Td (Other net tangible assets) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 155.03 595.95 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 591.43 Td (156,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 591.42 Td (153,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 591.42 Td (2,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 576.42 Td (Intangible assets, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.50 576.43 Td (40,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 576.42 Td (43,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 576.42 Td (\(3,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 576.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 561.42 Td (Net assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 561.43 Td (282,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 561.42 Td (298,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 561.42 Td (\(16,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 561.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 546.42 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 546.42 Td (otal debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 546.43 Td (\(1) Tj ET Q q 0 0 0 rg BT 399.48 546.43 Td (1,021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.00 546.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 546.47 Td (\(58,146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.75 546.42 Td (47,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 531.42 Td (Closed mine obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 531.43 Td (\(20,751) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.00 531.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.80 531.47 Td (\(21,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 531.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 531.42 Td (600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 516.42 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 516.42 Td (otal equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.00 516.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 516.43 Td (250,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.10 516.42 Td (219,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 516.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.75 516.42 Td (31,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 501.42 Td (Debt to total capitalization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.00 501.43 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.00 501.43 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 501.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.65 501.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.95 501.42 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 501.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 476.25 Td (The decrease in net assets was the result of the change in cash and cash equivalents, primarily due to a reduction in borrowings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 464.25 Td (on NACoal's revolving credit facility during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.54 464.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.54 464.25 Td (, payments of dividends to shareholders and stock repurchases, and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 452.25 Td (amortization of intangible assets during 2018.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 431.25 Td (Contractual Obligations, Contingent Liabilities and Commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 410.25 Td (Following is a table which summarizes the contractual obligations of the Company as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.04 410.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.62 410.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 373.75 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 373.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 373.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 373.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 373.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 373.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 373.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 373.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 373.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 333.75 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 333.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 333.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 333.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 333.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 333.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 333.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 333.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 333.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 303.75 160.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 303.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 303.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 303.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 303.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 303.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 303.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 303.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 303.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 303.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 303.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 303.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 303.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 303.75 45.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 263.75 160.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 263.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.50 263.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 263.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.50 263.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.50 263.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 263.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 263.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.50 263.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 263.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 263.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 263.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 263.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 263.75 45.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 386.75 m 259.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259.5 386.75 m 263.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 386.75 m 309.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309.5 386.75 m 313.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 386.75 m 358.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 386.75 m 362.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 386.75 m 407.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 386.75 m 411.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 386.75 m 456.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 386.75 m 460.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 386.75 m 505.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 386.75 m 509.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 386.75 m 554.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 54.5 373.75 m 214.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 373.75 m 259.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 386.75 m 309.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 373.75 m 309.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309.5 386.75 m 313.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 386.75 m 358.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 373.75 m 358.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 386.75 m 362.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 386.75 m 407.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 373.75 m 407.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407.5 386.75 m 411.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 386.75 m 456.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 373.75 m 456.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 386.75 m 460.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 386.75 m 505.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 373.75 m 505.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 386.75 m 509.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 386.75 m 554.5 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 373.75 m 554.5 373.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 248.75 m 259.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 234.75 m 259.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 214.5 232.75 m 259.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 248.75 m 309.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 234.75 m 309.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 263.5 232.75 m 309.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 248.75 m 358.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 234.75 m 358.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 232.75 m 358.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 248.75 m 407.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 234.75 m 407.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 232.75 m 407.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 248.75 m 456.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 234.75 m 456.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411.5 232.75 m 456.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 248.75 m 505.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 234.75 m 505.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 232.75 m 505.5 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 248.75 m 554.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 234.75 m 554.5 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 232.75 m 554.5 232.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 391.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 341.85 390.98 Td (Payments Due by Period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 57.00 377.98 Td (Contractual Obligations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 227.75 377.98 Td (T) Tj ET Q q 0 0 0 rg BT 232.72 377.98 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.00 377.98 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 327.50 377.98 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.50 377.98 Td (2021) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.50 377.98 Td (2022) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 474.50 377.98 Td (2023) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.20 377.98 Td (Ther) Tj ET Q q 0 0 0 rg BT 529.94 377.98 Td (eafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 363.42 Td (NACoal Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 363.42 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.15 363.42 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 363.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 363.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 363.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 363.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 363.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 363.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 348.42 Td (V) Tj ET Q q 0 0 0 rg BT 63.67 348.42 Td (ariable interest payments on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 338.42 Td (NACoal Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 338.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 338.42 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 338.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 338.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 338.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 338.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 338.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 323.42 Td (Other debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.15 323.42 Td (8,929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 323.42 Td (567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 323.42 Td (567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 323.42 Td (567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 323.42 Td (567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.65 323.42 Td (567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 323.42 Td (6,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 308.42 Td (Other interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 308.42 Td (106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 308.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 308.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 308.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 308.42 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 308.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 308.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 293.42 Td (Capital lease obligations, including) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 283.42 Td (principal and interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.65 283.42 Td (458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 283.42 Td (437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 283.42 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 283.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 283.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 283.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 283.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 268.42 Td (Operating leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.10 268.42 Td (21,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.15 268.42 Td (2,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 268.42 Td (2,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 268.42 Td (2,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 268.42 Td (2,1) Tj ET Q q 0 0 0 rg BT 442.65 268.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 268.42 Td (1,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.10 268.42 Td (10,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 253.42 Td (Purchase and other obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.10 253.42 Td (42,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 253.42 Td (42,101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 253.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 253.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.65 253.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 253.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 253.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 238.42 Td (T) Tj ET Q q 0 0 0 rg BT 74.41 238.42 Td (otal contractual cash obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.10 238.42 Td (77,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.10 238.42 Td (49,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 238.42 Td (2,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 238.42 Td (2,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 238.42 Td (2,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 238.42 Td (2,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 238.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.10 238.42 Td (17,053) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 213.25 Td (An event of default, as defined in the NACoal Facility and the Company) Tj ET Q q 0 0 0 rg BT 346.98 213.25 Td (s lease agreements, could cause an acceleration of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 201.25 Td (payment schedule. No such event of default has occurred or is anticipated to occur) Tj ET Q q 0 0 0 rg BT 383.33 201.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 180.25 Td (NACoal) Tj ET Q q 0 0 0 rg BT 90.11 180.25 Td (s variable interest payments are calculated based upon NACoal) Tj ET Q q 0 0 0 rg BT 345.57 180.25 Td (s anticipated payment schedule and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.41 180.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 168.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 168.25 Td ( base rate and applicable mar) Tj ET Q q 0 0 0 rg BT 190.15 168.25 Td (gins, as defined in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 345.86 168.25 Td (. ) Tj ET Q q 0 0 0 rg BT 350.31 168.25 Td (A) Tj ET Q q 0 0 0 rg BT 356.98 168.25 Td ( 1/8% increase in the base rate would increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 156.25 Td (NACoal) Tj ET Q q 0 0 0 rg BT 90.11 156.25 Td (s estimated total annual interest payments on the NACoal Facility by less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.32 156.25 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.21 156.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 135.25 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 147.96 135.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 196.87 135.25 Td (ASU2016-02, Leases \(T) Tj ET Q q 0 0 0 rg BT 300.59 135.25 Td (opic 842\)," which is codified in ) Tj ET Q q 0 0 0 rg BT 428.81 135.25 Td (ASC 842, Leases \(ASC 842\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 123.25 Td (and supersedes current lease guidance in ) Tj ET Q q 0 0 0 rg BT 218.38 123.25 Td (ASC 840. ) Tj ET Q q 0 0 0 rg BT 262.28 123.25 Td (ASC 842 requires a lessee to recognize a right-of-use asset and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 111.25 Td (corresponding lease liability for substantially all leases beginning January 1, 2019 for NACCO. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.64 111.25 Td (See Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.52 111.25 Td ( to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 99.25 Td (Consolidated Financial Statements in this Form 10-K for further discussion of the Company's adoption of ) Tj ET Q q 0 0 0 rg BT 478.62 99.25 Td (T) Tj ET Q q 0 0 0 rg BT 484.03 99.25 Td (opic 842.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 78.25 Td (The purchase and other obligations are primarily for accounts payable, open purchase orders and accrued payroll and incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 66.25 Td (compensation.) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (Pension and postretirement funding can vary significantly each year due to plan amendments, changes in the market value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (plan assets, legislation and the Company) Tj ET Q q 0 0 0 rg BT 219.53 674.10 Td (s decisions to contribute above the minimum regulatory funding requirements. ) Tj ET Q q 0 0 0 rg BT 535.29 674.10 Td (As a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 662.10 Td (result, pension and postretirement funding has not been included in the table above. ) Tj ET Q q 0 0 0 rg BT 390.67 662.10 Td (The Company does not expect to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (contribute to its pension plan in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.87 650.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.87 650.10 Td (. NACCO maintains one supplemental retirement plan that pays monthly benefits to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.10 Td (participants directly out of corporate funds and expects to pay benefits of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.16 638.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.05 638.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.83 638.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.83 638.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.26 626.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.15 626.10 Td ( per year from 2020 through 2028. Benefit payments beyond that time cannot currently be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 614.10 Td (estimated. ) Tj ET Q q 0 0 0 rg BT 96.77 614.10 Td (All other pension benefit payments are made from assets of the pension plan. NACCO also expects to make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 602.10 Td (payments related to its other postretirement plans of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.76 602.10 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.65 602.10 Td ( per year from 2019 through 2028. Benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 590.10 Td (payments beyond that time cannot currently be estimated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 569.10 Td (Not included in the table above, the Company has a long-term liability of approximately $1.2million for unrecognized tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 557.10 Td (benefits, including interest and penalties, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.00 557.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.59 557.10 Td (. ) Tj ET Q q 0 0 0 rg BT 325.04 557.10 Td (At this time, the Company is unable to make a reasonable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 545.10 Td (estimate of the timing of payments due to, among other factors, the uncertainty of the timing and outcome of its tax audits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 524.10 Td (NACCO has asset retirement obligations that are not included in the table above due to the uncertainty of the timing of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 512.10 Td (payments to settle this liability) Tj ET Q q 0 0 0 rg BT 176.11 512.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.11 512.10 Td (See Note 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.99 512.10 Td ( to the Consolidated Financial Statements for further discussion of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (asset retirement obligations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 476.10 Td (NACoal is a party to certain guarantees related to Coyote Creek that are not included in the table above as the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 464.10 Td (believes that the likelihood of NACoal) Tj ET Q q 0 0 0 rg BT 211.47 464.10 Td (s future performance under the guarantees is remote, and no amounts related to these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 452.10 Td (guarantees have been recorded. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.98 452.10 Td (See Note 17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.86 452.10 Td ( to the Consolidated Financial Statements for further discussion of the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 440.10 Td (guarantees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 416.10 Td (Also not included in the table above, NACCO's Board of Directors approved the termination of certain nonqualified deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 404.10 Td (compensation plans during 2018. ) Tj ET Q q 0 0 0 rg BT 188.71 404.10 Td (As a result, NACCO expects to distribute the December 31, 2018 account balances of $12.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 392.10 Td (million in 2020.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 371.10 Td (Off Balance Sheet ) Tj ET Q q 0 0 0 rg BT 132.60 371.10 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 350.10 Td (The Company has not entered into any of) Tj ET Q q 0 0 0 rg BT 219.61 350.10 Td (f balance sheet financing arrangements, other than operating leases, which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 338.10 Td (disclosed in the contractual obligations table above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 317.10 Td (ENVIRONMENT) Tj ET Q q 0 0 0 rg BT 130.48 317.10 Td (AL) Tj ET Q q 0 0 0 rg BT 143.82 317.10 Td ( MA) Tj ET Q q 0 0 0 rg BT 162.24 317.10 Td (TTERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 296.10 Td (The Company is af) Tj ET Q q 0 0 0 rg BT 130.19 296.10 Td (fected by the regulations of numerous agencies, particularly the Federal Of) Tj ET Q q 0 0 0 rg BT 429.62 296.10 Td (fice of Surface Mining, the U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 284.10 Td (Environmental Protection ) Tj ET Q q 0 0 0 rg BT 158.98 284.10 Td (Agency) Tj ET Q q 0 0 0 rg BT 189.43 284.10 Td (, the U.S. ) Tj ET Q q 0 0 0 rg BT 228.88 284.10 Td (Army Corps of Engineers and associated state regulatory authorities. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 272.10 Td (NACoal and Bellaire closely monitor proposed legislation and regulation concerning SMCRA, CAA, CPP) Tj ET Q q 0 0 0 rg BT 478.95 272.10 Td (, CW) Tj ET Q q 0 0 0 rg BT 498.95 272.10 Td (A, RCRA, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 260.10 Td (CERCLA) Tj ET Q q 0 0 0 rg BT 92.90 260.10 Td ( and other regulatory actions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 239.10 Td (Compliance with these increasingly stringent regulations could result in higher expenditures for both capital improvements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 227.10 Td (and operating costs. ) Tj ET Q q 0 0 0 rg BT 136.02 227.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 195.73 227.10 Td (s policies stress environmental responsibility and compliance with these regulations. Based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 215.10 Td (on current information, management does not expect compliance with these regulations to have a material adverse ef) Tj ET Q q 0 0 0 rg BT 521.14 215.10 Td (fect on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 203.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 110.38 203.10 Td (s financial condition or results of operations. See Item1 in PartI of this Form 10-K for further discussion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 191.10 Td (these matters.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 167.10 Td (THE NOR) Tj ET Q q 0 0 0 rg BT 99.49 167.10 Td (TH ) Tj ET Q q 0 0 0 rg BT 115.88 167.10 Td (AMERICAN COAL) Tj ET Q q 0 0 0 rg BT 202.83 167.10 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 255.14 167.10 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 143.10 Td (NACoal operates surface mines that supply coal primarily to power generation companies under long-term contracts, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 131.10 Td (provides other value-added services to natural resource companies. In addition, its NAM business operates and maintains ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 119.10 Td (draglines and other equipment under contracts with sellers of aggregates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 95.10 Td (Coal is surface mined from NACoal's mines in North Dakota, ) Tj ET Q q 0 0 0 rg BT 303.07 95.10 Td (T) Tj ET Q q 0 0 0 rg BT 308.48 95.10 Td (exas, Mississippi, Louisiana and on the Navajo Nation in New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 83.10 Td (Mexico. NACoal has the following operating coal mining subsidiaries: Bisti Fuels Company) Tj ET Q q 0 0 0 rg BT 426.36 83.10 Td (, LLC \("Bisti"\), Caddo Creek ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 71.10 Td (Resources Company) Tj ET Q q 0 0 0 rg BT 135.84 71.10 Td (, LLC \(Caddo Creek\), Camino Real Fuels, LLC \(Camino Real\), ) Tj ET Q q 0 0 0 rg BT 411.14 71.10 Td (The Coteau Properties Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 59.10 Td (\(Coteau\), Coyote Creek Mining Company) Tj ET Q q 0 0 0 rg BT 230.81 59.10 Td (, LLC \(Coyote Creek\), Demery Resources Company) Tj ET Q q 0 0 0 rg BT 449.54 59.10 Td (, LLC \(Demery\), ) Tj ET Q q 0 0 0 rg BT 528.49 59.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 47.10 Td (Falkirk Mining Company \(Falkirk\), Mississippi Lignite Mining Company \(MLMC\) and ) Tj ET Q q 0 0 0 rg BT 426.29 47.10 Td (The Sabine Mining Company ) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (\(Sabine\). Liberty Fuels Company) Tj ET Q q 0 0 0 rg BT 196.09 686.10 Td (, LLC \("Liberty"\) ceased all mining and delivery of lignite in 2017 and commenced mine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (reclamation in 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (All of the operating coal mining subsidiaries other than MLMC are unconsolidated \(collectively the "Unconsolidated Mines"\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.10 Td (Centennial Natural Resources, LLC \("Centennial"\), which ceased coal production at the end of 2015, is also a consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.10 Td (entity) Tj ET Q q 0 0 0 rg BT 76.12 626.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 602.10 Td (NAM primarily provides value-added services for independently owned limestone quarries and is reimbursed by its customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 590.10 Td (based on production costs plus a management fee per unit of limestone delivered. ) Tj ET Q q 0 0 0 rg BT 382.06 590.10 Td (The financial results for NAM are included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.10 Td (in the consolidated mining operations or unconsolidated mining operations based on each entity's structure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 554.10 Td (NACoal also provides coal handling, processing and drying services for a number of customers. For example, NoDak Ener) Tj ET Q q 0 0 0 rg BT 545.91 554.10 Td (gy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 542.10 Td (Services, LLC \("NoDak"\), operates and maintains a coal processing facility for a customer's power plant. North ) Tj ET Q q 0 0 0 rg BT 505.50 542.10 Td (American ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 530.10 Td (Coal Royalty Company \("NACRC"\) provides surface and mineral acquisition and lease maintenance services related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 518.10 Td (Company's operations and owns the mineral rights of various properties throughout the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 494.10 Td (See Item1. Business ) Tj ET Q q 0 0 0 rg BT 156.21 494.10 Td (A. North ) Tj ET Q q 0 0 0 rg BT 193.71 494.10 Td (American Coal General" on page 1 in this Form 10-K for further discussion of NACoal's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 482.10 Td (subsidiaries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 461.10 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 110.12 461.10 Td ( REVIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 440.10 Td (T) Tj ET Q q 0 0 0 rg BT 59.41 440.10 Td (ons of coal delivered by NACoal) Tj ET Q q 0 0 0 rg BT 194.10 440.10 Td (s operating mines were as follows for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.25 440.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.83 440.10 Td ( \(in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 417.60 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 417.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 417.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 417.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 389.60 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 389.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 389.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 389.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 361.60 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 361.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 361.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 361.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 333.60 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 333.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 333.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 333.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 305.60 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 305.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 305.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 305.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 277.60 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 277.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 277.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 277.60 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 417.6 m 498.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 417.6 m 498.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 319.6 m 498.5 319.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 319.6 m 562.5 319.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 305.6 m 498.5 305.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 305.6 m 562.5 305.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 291.6 m 498.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 291.6 m 562.5 291.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 277.6 m 498.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 277.6 m 562.5 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 264.6 m 498.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 262.6 m 498.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 264.6 m 562.5 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 262.6 m 562.5 262.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 421.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 421.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 421.55 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 408.17 Td (Coteau) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 408.28 Td (14.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 408.17 Td (14.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 394.17 Td (Falkirk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 394.28 Td (8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 394.17 Td (7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 380.17 Td (Sabine) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 380.28 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 380.17 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 366.17 Td (Bisti) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 366.28 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 366.17 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 352.17 Td (Camino Real) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 352.28 Td (2.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 352.17 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 338.17 Td (Coyote Creek) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 338.28 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 338.17 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 324.17 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 324.28 Td (0.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 324.17 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 310.17 Td (Unconsolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 310.28 Td (35.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 310.17 Td (34.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 296.17 Td (MLMC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 296.28 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 296.17 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 282.17 Td (Consolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 282.28 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.15 282.17 Td (2.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 268.17 Td (T) Tj ET Q q 0 0 0 rg BT 62.41 268.17 Td (otal tons delivered) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 268.28 Td (38.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 268.17 Td (37.2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 243.10 Td (Cubic yards of limestone delivered by NAM were as follows for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.91 243.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.49 243.10 Td ( \(in millions\): ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 211.60 385.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 211.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 211.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 211.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 183.60 385.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 183.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 183.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 183.60 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 211.60000000000002 m 499.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 211.60000000000002 m 563.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 183.60000000000002 m 499.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 170.60000000000002 m 499.5 170.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 168.60000000000002 m 499.5 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 183.60000000000002 m 563.5 183.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 170.60000000000002 m 563.5 170.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 168.60000000000002 m 563.5 168.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 215.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.00 215.68 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.00 215.55 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 202.17 Td (Unconsolidated operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 202.17 Td (5.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 202.17 Td (2.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 188.17 Td (Consolidated operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 188.17 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.15 188.17 Td (28.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 174.17 Td (T) Tj ET Q q 0 0 0 rg BT 62.41 174.17 Td (otal yards delivered) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 174.28 Td (35.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.15 174.17 Td (30.0) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 149.10 Td (T) Tj ET Q q 0 0 0 rg BT 59.41 149.10 Td (otal coal reserves were as follows at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.29 149.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.88 149.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 125.60 385.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 125.60 124.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 97.60 385.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 97.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 97.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 97.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 125.60000000000002 m 499.5 125.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 125.60000000000002 m 563.5 125.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 82.60000000000002 m 499.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 82.60000000000002 m 563.5 82.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 68.60000000000002 m 499.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 66.60000000000002 m 499.5 66.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 68.60000000000002 m 563.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 66.60000000000002 m 563.5 66.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 129.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.00 129.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.00 129.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 116.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.20 116.85 Td (\(in billions of tons\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 102.27 Td (Unconsolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 102.28 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 102.27 Td (0.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 87.27 Td (Consolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 87.28 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 87.27 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 72.27 Td (T) Tj ET Q q 0 0 0 rg BT 62.41 72.27 Td (otal coal reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 72.28 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.15 72.27 Td (1.9) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET 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389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 521.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 521.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 521.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 491.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 491.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 491.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 491.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 461.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 461.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 461.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 461.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 431.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 431.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 431.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 431.75 58.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 641.75 m 501.5 641.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 641.75 m 563.5 641.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 641.75 m 501.5 641.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 611.75 m 501.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 611.75 m 563.5 611.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 566.75 m 501.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 566.75 m 563.5 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 551.75 m 501.5 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 551.75 m 563.5 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 461.75 m 501.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 461.75 m 563.5 461.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 416.75 m 501.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 402.75 m 501.5 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 400.75 m 501.5 400.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 416.75 m 563.5 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 402.75 m 563.5 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 400.75 m 563.5 400.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 646.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 645.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.00 646.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 632.32 Td (Revenue - consolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 631.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 631.43 Td (1) Tj ET Q q 0 0 0 rg BT 470.15 631.43 Td (17,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 632.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 632.32 Td (92,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 617.32 Td (Revenue - royalty and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 616.43 Td (17,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 617.32 Td (12,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 602.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 602.32 Td (otal revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 601.43 Td (135,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.15 602.32 Td (104,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 587.32 Td (Cost of sales - consolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 586.43 Td (102,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 587.32 Td (85,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 572.32 Td (Cost of sales - royalty and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 571.43 Td (2,1) Tj ET Q q 0 0 0 rg BT 487.65 571.43 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.15 572.32 Td (1,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 557.32 Td (T) Tj ET Q q 0 0 0 rg BT 62.76 557.32 Td (otal cost of sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 556.43 Td (105,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 557.32 Td (87,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 542.32 Td (Gross profit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 541.43 Td (30,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 542.32 Td (17,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 527.32 Td (Earnings of unconsolidated operations \(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 526.43 Td (64,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 527.32 Td (61,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 512.32 Td (Selling, general and administrative expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 511.43 Td (42,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 512.32 Td (40,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 497.32 Td (Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 190.47 497.32 Td (ge) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 496.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.65 497.32 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 482.32 Td (Amortization of intangibles) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 481.43 Td (3,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.15 482.32 Td (2,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 467.32 Td (Gain on sale of assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.30 466.48 Td (\(892) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.65 466.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.80 467.37 Td (\(4,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.65 467.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 452.32 Td (Operating profit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 451.43 Td (50,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 452.32 Td (39,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 437.32 Td (Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 436.43 Td (1,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.15 437.32 Td (3,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 421.42 Td (Other income, net, including income from other unconsolidated af) Tj ET Q q 0 0 0 rg BT 321.74 421.42 Td (filiates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.80 421.48 Td (\(1,259) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.65 421.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.30 421.47 Td (\(994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.65 421.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 407.32 Td (Income before income tax expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 406.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 406.43 Td (49,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.00 406.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.15 406.42 Td (37,231) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 54.00 385.78 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.21 381.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.71 381.25 Td (See Note 17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.59 381.25 Td ( for a discussion of the Company's unconsolidated subsidiaries, including summarized financial information.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 360.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 74.00 360.25 Td ( Compar) Tj ET Q q 0 0 0 rg BT 111.87 360.25 Td (ed with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.76 360.25 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.76 360.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 339.25 Td (The following table identifies the components of change in revenues for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.74 339.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.74 339.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.44 339.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.44 339.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 315.75 428.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 315.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 285.75 428.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 285.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 255.75 428.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 255.75 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 315.75 m 562.5 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 315.75 m 562.5 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 240.75 m 562.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 227.75 m 562.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 225.75 m 562.5 225.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 320.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.40 320.00 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 305.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 306.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 306.32 Td (104,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 290.42 Td (Increase \(decrease\) from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 290.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 275.42 Td (Consolidated operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 275.42 Td (23,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 260.42 Td (Royalty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 260.42 Td (4,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 245.42 Td (MLMC contractual settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 245.42 Td (2,989) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 231.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.00 231.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.15 231.43 Td (135,375) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 203.25 Td (Revenues increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.63 203.25 Td (29.2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.46 203.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.24 203.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.24 203.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.94 203.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.94 203.25 Td ( primarily due to an increase in tons delivered at MLMC as a result of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 191.25 Td (increased customer requirements during 2018 compared with 2017 and higher reimbursed costs at NAM's consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 179.25 Td (operations. Reimbursed costs have an of) Tj ET Q q 0 0 0 rg BT 215.45 179.25 Td (fsetting amount in cost of goods sold and have no impact on operating profit. Higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 167.25 Td (royalty revenues also contributed to the increase as third parties operated more wells in Ohio during 2018 compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 155.25 Td (2017, primarily to extract the Company's natural gas assets. MLMC's contractual settlements relate to resolution of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 143.25 Td (customer) Tj ET Q q 0 0 0 rg BT 91.03 143.25 Td () Tj ET Q q 0 0 0 rg BT 93.80 143.25 Td (s tonnage-related payment obligations and coal pricing adjustments.) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (The following table identifies the components of change in operating profit for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.69 686.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.69 686.10 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.39 686.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.39 686.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 662.60 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 662.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 632.60 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 632.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 602.60 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 602.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 572.60 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 572.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 542.60 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 542.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 512.60 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 512.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 662.6 m 562.5 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 497.6 m 562.5 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 484.6 m 562.5 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 482.6 m 562.5 482.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 666.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.85 666.85 Td (Operating Profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 652.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 653.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 653.17 Td (39,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 637.27 Td (Increase \(decrease\)from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 622.27 Td (Royalty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 622.27 Td (4,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 607.27 Td (Earnings of unconsolidated operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 607.27 Td (3,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 592.27 Td (Consolidated operations, excluding Centennial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 592.27 Td (3,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 577.27 Td (MLMC contractual settlements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 577.27 Td (2,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 562.27 Td (Centennial operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 562.27 Td (1,853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 547.27 Td (Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 190.47 547.27 Td (ge) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 547.27 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 532.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 532.27 Td (162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 517.27 Td (Net gain on sale of assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 517.32 Td (\(3,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 517.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 502.27 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 502.32 Td (\(2,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 502.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 488.28 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.00 488.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 488.28 Td (50,284) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 460.10 Td (Operating profit increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.46 460.10 Td ($10.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.35 460.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.13 460.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.13 460.10 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.83 460.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.83 460.10 Td ( primarily due to higher royalty income, an increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 448.10 Td (earnings of unconsolidated operations and improved results at the consolidated mines, principally MLMC. Royalty income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 436.10 Td (increased during 2018 compared with 2017 primarily due to an increase in the number of wells operated by third parties to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 424.10 Td (extract the Company's natural gas assets in Ohio. ) Tj ET Q q 0 0 0 rg BT 252.52 424.10 Td (The increase in the earnings of the unconsolidated operations was mainly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 412.10 Td (due to an increase in coal tons delivered, higher compensation at Liberty during the mine reclamation period and the receipt of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 400.10 Td (business interruption insurance proceeds at Bisti related to its customers plant outage in the first half of 2018. ) Tj ET Q q 0 0 0 rg BT 494.00 400.10 Td (The increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 388.10 Td (operating profit at the consolidated mines was primarily due to an increase in MLMC's customer requirements, which resulted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 376.10 Td (in a reduction in the cost per ton of coal delivered, as well as receipt of contractual settlements related to resolution of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 364.10 Td (customer) Tj ET Q q 0 0 0 rg BT 91.03 364.10 Td () Tj ET Q q 0 0 0 rg BT 93.80 364.10 Td (s tonnage-related payment obligations and coal pricing adjustments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 340.10 Td (A) Tj ET Q q 0 0 0 rg BT 60.67 340.10 Td ( reduction in Centennial's operating expenses and the absence of an asset impairment char) Tj ET Q q 0 0 0 rg BT 420.22 340.10 Td (ge also contributed to the increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 328.10 Td (in operating profit in 2018 compared with 2017. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.18 328.10 Td (Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.12 328.10 Td ( to the Consolidated Financial Statements for further discussion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 316.10 Td (Centennial's 2017 asset impairment char) Tj ET Q q 0 0 0 rg BT 215.58 316.10 Td (ge. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 292.10 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 185.42 292.10 Td (fset by a decrease in the net gain on sale of assets, primarily due to a $2.3 million gain on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 280.10 Td (sale of a dragline at Centennial in 2017, and an increase in selling, general and administrative expenses. ) Tj ET Q q 0 0 0 rg BT 471.46 280.10 Td (The increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 268.10 Td (selling, general and administrative expenses is due to higher employee-related expenses, professional fees and additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 256.10 Td (business development costs. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 232.10 Td (Income before income tax expense increased by $12.3 million, primarily due to the $10.6 million improvement in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 220.10 Td (profit. In addition to the increase in operating profit, interest expense decreased by $1.4 million primarily due to lower average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 208.10 Td (borrowings under NACoal's revolving credit facility during 2018 compared with 2017.) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 686.25 Td (NACCO ) Tj ET Q q 0 0 0 rg BT 92.61 686.25 Td (AND OTHER) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 665.25 Td (NACCO and Other includes the parent company operations and Bellaire Corporation \("Bellaire"\), a non-operating subsidiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 653.25 Td (of NACCO. ) Tj ET Q q 0 0 0 rg BT 104.28 653.25 Td (Although Bellaire) Tj ET Q q 0 0 0 rg BT 178.99 653.25 Td (s operations are immaterial, it has long-term liabilities related to closed mines, primarily from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 641.25 Td (former Eastern U.S. under) Tj ET Q q 0 0 0 rg BT 159.06 641.25 Td (ground coal mining activities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 620.25 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 110.12 620.25 Td ( REVIEW) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 599.25 Td (Operating Results) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.25 Td (The results of operations at NACCO and Other were as follows for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.18 578.25 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.76 578.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 554.75 384.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 554.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 554.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 554.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 524.75 384.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 524.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 524.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 524.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 493.75 384.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 493.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 493.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 493.75 60.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 554.75 m 498.5 554.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 554.75 m 562.5 554.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 477.75 m 498.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 462.75 m 498.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 460.75 m 498.5 460.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 477.75 m 562.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 462.75 m 562.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 460.75 m 562.5 460.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 559.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 558.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 559.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 544.42 Td (Operating loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 544.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 544.48 Td (\(6,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 544.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 544.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 544.47 Td (\(6,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 544.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 529.42 Td (Other expense \(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 514.42 Td (Interest income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 514.48 Td (\(646) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 514.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 514.47 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 514.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 498.42 Td (Closed mine obligation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 498.43 Td (1,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 498.42 Td (1,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.00 482.42 Td (Other) Tj ET Q q 0 0 0 rg BT 97.37 482.42 Td (, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 482.43 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 482.47 Td (\(305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 482.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 466.42 Td (Loss before income tax expense \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 466.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 466.48 Td (\(7,384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 466.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 466.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 466.47 Td (\(8,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 466.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 438.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 74.00 438.25 Td ( Compar) Tj ET Q q 0 0 0 rg BT 111.87 438.25 Td (ed with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.76 438.25 Td (2017) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 414.25 Td (The following table identifies the components of change in operating loss for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.03 414.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.03 414.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.73 414.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.73 414.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 390.75 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 390.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 360.75 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 360.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 330.75 448.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 330.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 54.50 300.75 448.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 300.75 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 390.75 m 562.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 390.75 m 562.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 300.75 m 562.5 300.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 287.75 m 562.5 287.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 285.75 m 562.5 285.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 57.00 395.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.40 395.00 Td (Operating Loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 380.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 381.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 381.37 Td (\(6,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 381.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 365.42 Td (Increase \(decrease\)from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 365.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 350.42 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 350.42 Td (5,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 335.42 Td (T) Tj ET Q q 0 0 0 rg BT 62.93 335.42 Td (ransition Services ) Tj ET Q q 0 0 0 rg BT 136.35 335.42 Td (Agreement \("TSA"\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 335.42 Td (290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 320.42 Td (Management fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 320.47 Td (\(4,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 320.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.00 305.42 Td (Net gain on sale of assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 305.47 Td (\(514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 305.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 291.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.00 291.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.80 291.48 Td (\(6,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.65 291.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 263.25 Td (NACCO and Other's operating loss decreased $0.2 million in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.31 263.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.31 263.25 Td ( compared with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.02 263.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.02 263.25 Td (. ) Tj ET Q q 0 0 0 rg BT 410.84 263.25 Td (The reduction in the operating loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 251.25 Td (was primarily due to lower employee-related expenses, partially of) Tj ET Q q 0 0 0 rg BT 321.22 251.25 Td (fset by a reduction in management fees char) Tj ET Q q 0 0 0 rg BT 497.35 251.25 Td (ged to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 239.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 106.04 239.25 Td (The management fees char) Tj ET Q q 0 0 0 rg BT 213.30 239.25 Td (ged to NACoal represent an allocation of corporate overhead of the parent company) Tj ET Q q 0 0 0 rg BT 548.62 239.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 227.25 Td (Prior to the spin-of) Tj ET Q q 0 0 0 rg BT 129.64 227.25 Td (f of HBBHC, NACCO received management fees from HBBHC of $3.1 million for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 215.25 Td (December 31, 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 191.25 Td (In connection with the spin-of) Tj ET Q q 0 0 0 rg BT 174.35 191.25 Td (f of HBBHC, the Company and HBBHC entered into a ) Tj ET Q q 0 0 0 rg BT 397.19 191.25 Td (T) Tj ET Q q 0 0 0 rg BT 402.95 191.25 Td (ransition Services ) Tj ET Q q 0 0 0 rg BT 476.27 191.25 Td (Agreement \("TSA"\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 179.25 Td (Under the terms of the ) Tj ET Q q 0 0 0 rg BT 146.29 179.25 Td (TSA, the Company provides various services to HBBHC on a transitional basis, as needed, for varying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 167.25 Td (periods after the spin-of) Tj ET Q q 0 0 0 rg BT 149.62 167.25 Td (f date. ) Tj ET Q q 0 0 0 rg BT 176.55 167.25 Td (As of December 31, 2018 the transition services are materially complete. NACCO received fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 155.25 Td (of $0.5 million and $0.2 million for the years ended December 31, 2018 and December 31, 2017, respectively) Tj ET Q q 0 0 0 rg BT 492.67 155.25 Td (, recorded as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 143.25 Td (reduction to selling, general and administrative expenses. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 119.25 Td (Loss before income taxes decreased $0.7 million due to the factors af) Tj ET Q q 0 0 0 rg BT 330.94 119.25 Td (fecting operating profit and an increase in interest income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 107.25 Td (earned on invested cash.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 54 81.68505859375 m 223.7412109375 81.68505859375 l s q 0 0 0 rg BT 54.00 83.25 Td (NACCO Industries, Inc. Outlook - 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 59.25 Td (In 2019, NACCO expects consolidated income before income tax to increase compared with 2018 and expects an ef) Tj ET Q q 0 0 0 rg BT 518.67 59.25 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 47.25 Td (income tax rate in the range of 13% to 15%. ) Tj ET Q q 0 0 0 rg BT 232.93 47.25 Td (The actual ef) Tj ET Q q 0 0 0 rg BT 284.93 47.25 Td (fective income tax rate could be af) Tj ET Q q 0 0 0 rg BT 423.01 47.25 Td (fected by changes from current ) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (estimates in the mix of earnings between entities that benefit from percentage depletion and those that do not, as well as the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (potential ef) Tj ET Q q 0 0 0 rg BT 99.08 674.10 Td (fect of discrete items.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (Income before income tax in 2018 includes $3.0 million in contractual settlements at MLMC and $2.8 million in favorable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.10 Td (adjustments to Centennial mine reclamation liabilities. Excluding these favorable 2018 items, 2019 income before income tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.10 Td (is expected to increase significantly compared with the prior year primarily as a result of improved results at MLMC and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 614.10 Td (higher royalty income. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 590.10 Td (MLMC sells lignite at contractually agreed upon prices which are subject to changes in the level of established indices over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 76.22 578.10 Td (Anticipated changes to these indices are expected to result in an increase in revenue during 2019. In addition, a decline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 566.10 Td (in diesel prices is expected to reduce the cost per ton delivered in 2019 compared with 2018. ) Tj ET Q q 0 0 0 rg BT 426.48 566.10 Td (These factors are expected to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 554.10 Td (contribute to an increase in MLMC's pre-tax income. If these anticipated changes do not occur or if customer demand does not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 542.10 Td (remain as strong as expected at MLMC, it could unfavorably af) Tj ET Q q 0 0 0 rg BT 307.91 542.10 Td (fect NACoal's 2019 earnings expectations significantly) Tj ET Q q 0 0 0 rg BT 527.62 542.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 518.10 Td (NACRC derives income from royalty-based leases under which the lessee makes payments to the Company based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 506.10 Td (lessee's sale of natural gas and, to a lesser extent, oil and coal, extracted primarily by third parties. ) Tj ET Q q 0 0 0 rg BT 448.26 506.10 Td (The Company experienced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 494.10 Td (significant increases in royalty income in both 2017 and 2018 compared with prior years, primarily due to the number of gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 482.10 Td (wells being developed and operated by third parties to extract the Company's Ohio Utica shale oil and gas assets. Royalty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 470.10 Td (income is expected to increase in 2019 compared with 2018 based on the number of wells currently in development and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 458.10 Td (operating in Ohio. Royalty income can fluctuate in response to a number of factors outside of the Company's control, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 446.10 Td (including fluctuations in commodity prices \(primarily natural gas\), declining production rates, regulatory risks, the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 434.10 Td (lessees' willingness and ability to incur well-development and other operating costs, and changes in the availability and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 422.10 Td (continuing development of infrastructure. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 398.10 Td (Income from the unconsolidated mining operations in 2019 is expected to be comparable to 2018. ) Tj ET Q q 0 0 0 rg BT 449.74 398.10 Td (An anticipated increase in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 386.10 Td (deliveries at Bisti and at NAM's unconsolidated aggregates mining operations are expected to be of) Tj ET Q q 0 0 0 rg BT 451.06 386.10 Td (fset by an anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 374.10 Td (reduction in coal tons delivered at the Falkirk, Sabine and Coyote Creek mines. NAM added new aggregates contracts in 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 362.10 Td (that are expected to contribute to the increase in earnings from the unconsolidated mining operations in 2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 338.10 Td (Capital expenditures are expected to be approximately $23 million in 2019 compared with $20.9 million in 2018 and $15.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 326.10 Td (million in 2017. MLMC) Tj ET Q q 0 0 0 rg BT 154.01 326.10 Td (s mine plan requires moving into a new mine area which will require increased capital expenditures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 314.10 Td (in 2019 and 2020. ) Tj ET Q q 0 0 0 rg BT 131.04 314.10 Td (The increase in capital expenditures will result in an increase in depreciation in future years that will af) Tj ET Q q 0 0 0 rg BT 543.19 314.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 302.10 Td (operating profit at that mine. Even with the increased capital expenditures in 2019, cash flow before financing activities is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 290.10 Td (expected to increase significantly over 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 266.10 Td (The Company continues to evaluate opportunities to expand its core coal mining business, however opportunities are likely to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 254.10 Td (be limited. Continued low natural gas prices and growth in renewable ener) Tj ET Q q 0 0 0 rg BT 354.56 254.10 Td (gy sources, such as wind and solar) Tj ET Q q 0 0 0 rg BT 492.19 254.10 Td (, could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 242.10 Td (unfavorably af) Tj ET Q q 0 0 0 rg BT 112.40 242.10 Td (fect the amount of electricity attributable to coal-fired power plants over the longer term. ) Tj ET Q q 0 0 0 rg BT 472.64 242.10 Td (The political and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 230.10 Td (regulatory environment is not generally receptive to development of new coal-fired power generation projects which would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 218.10 Td (create opportunities to build and operate new coal mines. However) Tj ET Q q 0 0 0 rg BT 321.29 218.10 Td (, the Company does continue to seek out and pursue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 206.10 Td (opportunities where it can apply its management fee business model to replace legacy operators of existing surface coal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 194.10 Td (mining operations in the United States. Outright acquisitions of existing coal mines or mining companies with exposure to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 182.10 Td (fluctuating coal commodity markets, or structures that would create significant leverage, are outside the Company) Tj ET Q q 0 0 0 rg BT 513.30 182.10 Td (s area of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 170.10 Td (focus.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 146.10 Td (One of the Company) Tj ET Q q 0 0 0 rg BT 140.37 146.10 Td (s core strategies involves activities to protect the Company) Tj ET Q q 0 0 0 rg BT 378.64 146.10 Td (s existing coal mining operations. ) Tj ET Q q 0 0 0 rg BT 518.17 146.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 134.10 Td (Company works to drive down coal production costs and maximize ef) Tj ET Q q 0 0 0 rg BT 334.31 134.10 Td (ficiency and operating capacity at mine locations to help ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 122.10 Td (customers with management fee contracts be more competitive. ) Tj ET Q q 0 0 0 rg BT 311.23 122.10 Td (This benefits both customers and NACoal, as fuel cost is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 110.10 Td (major driver for power plant dispatch. Increased power plant dispatch drives increased demand for coal by NACoal) Tj ET Q q 0 0 0 rg BT 521.06 110.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 98.10 Td (customers. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 74.10 Td (The Company also believes growth and diversification can come from pursuing opportunities to leverage skills honed in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 62.10 Td (Company) Tj ET Q q 0 0 0 rg BT 95.67 62.10 Td (s core mining operations and utilizing the Company) Tj ET Q q 0 0 0 rg BT 305.90 62.10 Td (s unique, service-based, management-fee business model, when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 50.10 Td (possible. ) Tj ET Q q 0 0 0 rg BT 94.10 50.10 Td (The Company continues to pursue non-coal mining opportunities principally through its NAM business. NAM has ) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.75 Td (Item 7. ) Tj ET Q q 0 0 0 rg BT 86.00 748.75 Td (MANAGEMENT'S DISCUSSION ) Tj ET Q q 0 0 0 rg BT 235.47 748.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 259.09 748.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 286.50 748.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 324.75 748.75 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 383.37 748.75 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 446.72 748.75 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 503.31 748.75 Td (TS OF) Tj ET Q q 0 0 0 rg BT 531.56 748.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 736.75 Td (OPERA) Tj ET Q q 0 0 0 rg BT 120.63 736.75 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 724.75 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 214.08 724.75 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.75 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 712.75 Td (\(T) Tj ET Q q 0 0 0 rg BT 93.97 712.75 Td (abular ) Tj ET Q q 0 0 0 rg BT 122.96 712.75 Td (Amounts in Thousands, Except as Noted and Per Shar) Tj ET Q q 0 0 0 rg BT 339.53 712.75 Td (e and Per) Tj ET Q q 0 0 0 rg BT 378.03 712.75 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 33.60 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 686.10 Td (served as a strong growth platform by focusing on the operation and maintenance of draglines for limestone producers. NAM ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 674.10 Td (will continue to pursue growth in dragline operation and maintenance, while expanding the scope of work provided to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 662.10 Td (customers and focusing on mining a broader range of aggregates and other minerals. In addition, the Company launched a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 650.10 Td (new business called Mitigation Resources of North ) Tj ET Q q 0 0 0 rg BT 260.35 650.10 Td (America to create and sell stream and wetland mitigation credits and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 638.10 Td (provide services to those engaged in permittee-responsible mitigation. ) Tj ET Q q 0 0 0 rg BT 339.30 638.10 Td (The Company also continues to focus on increasing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 626.10 Td (royalty income, principally related to its Ohio Utica shale assets. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 602.10 Td (RECENTL) Tj ET Q q 0 0 0 rg BT 101.43 602.10 Td (Y) Tj ET Q q 0 0 0 rg BT 108.28 602.10 Td ( ISSUED ) Tj ET Q q 0 0 0 rg BT 148.85 602.10 Td (ACCOUNTING ST) Tj ET Q q 0 0 0 rg BT 232.29 602.10 Td (ANDARDS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 578.10 Td (See Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.88 578.10 Td ( to the Consolidated Financial Statements in this Form 10-K for a description of recently issued accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 566.10 Td (standards, including actual and expected dates of adoption and ef) Tj ET Q q 0 0 0 rg BT 314.28 566.10 Td (fects to the Company's Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 533.10 Td (FOR) Tj ET Q q 0 0 0 rg BT 74.76 533.10 Td (W) Tj ET Q q 0 0 0 rg BT 83.65 533.10 Td (ARD-LOOKING ST) Tj ET Q q 0 0 0 rg BT 171.53 533.10 Td (A) Tj ET Q q 0 0 0 rg BT 178.01 533.10 Td (TEMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 512.10 Td (The statements contained in Management) Tj ET Q q 0 0 0 rg BT 227.83 512.10 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 297.00 512.10 Td (Analysis of Financial Condition and Results of Operations and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (elsewhere throughout this ) Tj ET Q q 0 0 0 rg BT 159.26 500.10 Td (Annual Report on Form 10-K that are not historical facts are forward-looking statements within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 488.10 Td (the meaning of Section 27A) Tj ET Q q 0 0 0 rg BT 165.65 488.10 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 235.07 488.10 Td (Act of 1933 and Section21E of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 462.24 488.10 Td (Act of 1934. ) Tj ET Q q 0 0 0 rg BT 514.83 488.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 476.10 Td (forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 523.38 476.10 Td (fer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 464.10 Td (materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 452.10 Td (which speak only as of the date hereof. ) Tj ET Q q 0 0 0 rg BT 214.87 452.10 Td (The Company undertakes no obligation to publicly revise these forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 440.10 Td (statements to reflect events or circumstances that arise after the date hereof. ) Tj ET Q q 0 0 0 rg BT 358.58 440.10 Td (Among the factors that could cause plans, actions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 428.10 Td (and results to dif) Tj ET Q q 0 0 0 rg BT 120.75 428.10 Td (fer materially from current expectations are, without limitation: \(1\) changes in tax laws or regulatory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 416.10 Td (requirements, including changes in mining or power plant emission regulations and health, safety or environmental legislation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 404.10 Td (\(2\) changes in costs related to geological and geotechnical conditions, repairs and maintenance, new equipment and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 392.10 Td (replacement parts, fuel or other similar items, \(3\) regulatory actions, changes in mining permit requirements or delays in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 380.10 Td (obtaining mining permits that could af) Tj ET Q q 0 0 0 rg BT 207.40 380.10 Td (fect deliveries to customers, \(4\) weather conditions, extended power plant outages, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 368.10 Td (liquidity events or other events that would change the level of customers' coal or aggregates requirements, \(5\) weather or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 356.10 Td (equipment problems that could af) Tj ET Q q 0 0 0 rg BT 188.23 356.10 Td (fect deliveries to customers, \(6\) changes in the power industry that would af) Tj ET Q q 0 0 0 rg BT 492.13 356.10 Td (fect demand for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 344.10 Td (NACoal's reserves, \(7\) failure or delays by the Company's lessees in achieving expected production of natural gas and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 332.10 Td (hydrocarbons; the availability and cost of transportation and processing services in the areas where the Company's oil and gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 320.10 Td (reserves are located; federal and state legislative and regulatory initiatives relating to hydraulic fracturing; and the ability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 308.10 Td (lesseesto obtain capital or financing needed for well development operations, \(8\) changes in the costs to reclaim NACoal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 296.10 Td (mining areas, \(9\) costs to pursue and develop new mining and value-added service opportunities, \(10\) changes to or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 284.10 Td (termination of a long-term mining contract, or a customer default under a contract, \(1) Tj ET Q q 0 0 0 rg BT 394.89 284.10 Td (1\) delays or reductions in coal or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 272.10 Td (aggregates deliveries at NACoal's or NAM's operations, \(12\) changes in the prices of hydrocarbons, particularly diesel fuel, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.00 260.10 Td (natural gas and oil, and \(13\) increased competition, including consolidation within the industry) Tj ET Q q 0 0 0 rg BT 433.27 260.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (Item 7A. QUANTIT) Tj ET Q q 0 0 0 rg BT 135.64 236.10 Td (A) Tj ET Q q 0 0 0 rg BT 142.12 236.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 168.53 236.10 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 231.40 236.10 Td (A) Tj ET Q q 0 0 0 rg BT 237.88 236.10 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 337.36 236.10 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 372.74 236.10 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 420.06 236.10 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (As a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 401.56 212.10 Td (Act of 1934, the Company is not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (required to provide this information.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (Item 8. FINANCIAL) Tj ET Q q 0 0 0 rg BT 138.61 176.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 152.60 176.10 Td (A) Tj ET Q q 0 0 0 rg BT 159.08 176.10 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 209.93 176.10 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 301.69 176.10 Td (AR) Tj ET Q q 0 0 0 rg BT 315.78 176.10 Td (Y) Tj ET Q q 0 0 0 rg BT 322.63 176.10 Td ( DA) Tj ET Q q 0 0 0 rg BT 338.83 176.10 Td (T) Tj ET Q q 0 0 0 rg BT 344.76 176.10 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (The information required by this Item8 is set forth in the Financial Statements and Supplementary Data contained in PartIV) Tj ET Q q 0 0 0 rg BT 549.14 155.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (this Form 10-K and is hereby incorporated herein by reference to such information.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (Item 9. CHANGES IN ) Tj ET Q q 0 0 0 rg BT 150.00 119.10 Td (AND DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 264.29 119.10 Td (WITH ) Tj ET Q q 0 0 0 rg BT 294.58 119.10 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 344.39 119.10 Td (ANTS ON ) Tj ET Q q 0 0 0 rg BT 390.51 119.10 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 461.91 119.10 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 542.19 119.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.00 107.10 Td (DISCLOSURE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (There were no disagreements with accountants on accounting and financial disclosure for the two-year period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 71.10 Td ( that require disclosure pursuant to this Item 9.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item9A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.71 742.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.71 742.25 Td (CONTROLS ) Tj ET Q q 0 0 0 rg BT 147.78 742.25 Td (AND PROCEDURES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Evaluation of disclosur) Tj ET Q q 0 0 0 rg BT 148.17 724.25 Td (e contr) Tj ET Q q 0 0 0 rg BT 177.70 724.25 Td (ols and pr) Tj ET Q q 0 0 0 rg BT 220.31 724.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 249.57 724.25 Td (es:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.23 724.25 Td ( ) Tj ET Q q 0 0 0 rg BT 263.17 724.25 Td (An evaluation was carried out under the supervision and with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (participation of the Company's management, including the principal executive of) Tj ET Q q 0 0 0 rg BT 373.75 712.25 Td (ficer and the principal financial of) Tj ET Q q 0 0 0 rg BT 509.89 712.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 527.80 712.25 Td (, of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 700.25 Td (fectiveness of the Company's disclosure controls and procedures as of the end of the period covered by this report. Based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (that evaluation, these of) Tj ET Q q 0 0 0 rg BT 145.34 688.25 Td (ficers have concluded that the Company's disclosure controls and procedures are ef) Tj ET Q q 0 0 0 rg BT 477.68 688.25 Td (fective. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (Management's r) Tj ET Q q 0 0 0 rg BT 119.53 670.25 Td (eport on internal contr) Tj ET Q q 0 0 0 rg BT 216.83 670.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 245.81 670.25 Td ( financial r) Tj ET Q q 0 0 0 rg BT 292.29 670.25 Td (eporting:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.73 670.25 Td ( Management is responsible for establishing and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (maintaining adequate internal control over financial reporting. Under the supervision and with the participation of management, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (including the principal executive of) Tj ET Q q 0 0 0 rg BT 191.99 646.25 Td (ficer and principal financial of) Tj ET Q q 0 0 0 rg BT 313.42 646.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 331.33 646.25 Td (, the Company conducted an evaluation of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 634.25 Td (fectiveness of internal control over financial reporting based on the framework in Internal Control Integrated Framework ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 220.92 622.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 294.33 622.25 Td (T) Tj ET Q q 0 0 0 rg BT 300.08 622.25 Td (readway Commission \(2013 framework\). Based on this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (evaluation under the framework, management concluded that the Company's internal control over financial reporting was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 598.25 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.95 598.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.53 598.25 Td (. ) Tj ET Q q 0 0 0 rg BT 192.35 598.25 Td (The Company's ef) Tj ET Q q 0 0 0 rg BT 265.07 598.25 Td (fectiveness of internal control over financial reporting as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.25 598.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 586.25 Td ( has been audited by Ernst & ) Tj ET Q q 0 0 0 rg BT 187.66 586.25 Td (Y) Tj ET Q q 0 0 0 rg BT 193.88 586.25 Td (oung LLP) Tj ET Q q 0 0 0 rg BT 233.05 586.25 Td (, an independent registered public accounting firm, as stated in its report, which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (included in Item15 of this Form 10-K and incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (Changes in internal contr) Tj ET Q q 0 0 0 rg BT 158.99 556.25 Td (ol:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.10 556.25 Td ( ) Tj ET Q q 0 0 0 rg BT 172.42 556.25 Td (There have been no changes in the Company's internal control over financial reporting, that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (occurred during the fourth quarter of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.38 544.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.38 544.25 Td (, that have materially af) Tj ET Q q 0 0 0 rg BT 313.88 544.25 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 500.83 544.25 Td (fect, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (Company's internal control over financial reporting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (Item9B) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.16 508.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.16 508.25 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 175.92 508.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (None.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.90 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 291.27 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 305.36 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 311.85 742.25 Td ( III) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Item 10. DIRECT) Tj ET Q q 0 0 0 rg BT 126.21 718.25 Td (ORS, EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 266.24 718.25 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 340.21 718.25 Td (TE GOVERNANCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (Information with respect to Directors of the Company will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.81 697.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.81 697.25 Td ( Proxy Statement under the subheadings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 685.25 Td (Part III Proposals ) Tj ET Q q 0 0 0 rg BT 139.25 685.25 Td (T) Tj ET Q q 0 0 0 rg BT 144.66 685.25 Td (o Be ) Tj ET Q q 0 0 0 rg BT 165.59 685.25 Td (V) Tj ET Q q 0 0 0 rg BT 171.52 685.25 Td (oted On ) Tj ET Q q 0 0 0 rg BT 205.41 685.25 Td (At ) Tj ET Q q 0 0 0 rg BT 217.72 685.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.77 685.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.77 685.25 Td ( ) Tj ET Q q 0 0 0 rg BT 257.72 685.25 Td (Annual Meeting Proposal 1 Election of Directors , which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 673.25 Td (information is incorporated herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 655.25 Td (Information with respect to the audit review committee and the audit review committee financial expert will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 643.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 643.25 Td ( Proxy Statement under the subheading Part I Corporate Governance Information Directors' Meetings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 631.25 Td (Committees, which information is incorporated herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 613.25 Td (Information with respect to compliance with Section 16\(a\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 395.45 613.25 Td (Act of 1934 by the Company's Directors, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 601.25 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 601.25 Td (ficers and holders of more than ten percent of the Company's equity securities will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.70 601.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.70 601.25 Td ( Proxy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 589.25 Td (Statement under the subheading Part IV) Tj ET Q q 0 0 0 rg BT 213.94 589.25 Td ( Other Important Information Section16\(a\) Beneficial Ownership Reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 577.25 Td (Compliance, which information is incorporated herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 559.25 Td (Information regarding the executive of) Tj ET Q q 0 0 0 rg BT 204.76 559.25 Td (ficers of the Company is included in this Form 10-K as Item 4A) Tj ET Q q 0 0 0 rg BT 460.27 559.25 Td ( of PartI as permitted by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 547.25 Td (Instruction 3 to Item 401\(b\) of RegulationS-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.25 Td (The Company has adopted a code of business conduct and ethics applicable to all Company personnel, including the principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 517.25 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 517.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 116.88 517.25 Td (, principal financial of) Tj ET Q q 0 0 0 rg BT 205.55 517.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 223.46 517.25 Td (, principal accounting of) Tj ET Q q 0 0 0 rg BT 321.03 517.25 Td (ficer or controller) Tj ET Q q 0 0 0 rg BT 391.14 517.25 Td (, or other persons performing similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 505.25 Td (functions. ) Tj ET Q q 0 0 0 rg BT 92.04 505.25 Td (The code of business conduct and ethics, entitled the Code of Corporate Conduct, is posted on the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 493.25 Td (website at www) Tj ET Q q 0 0 0 rg BT 113.78 493.25 Td (.nacco.com under Corporate Governance. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (Item 1) Tj ET Q q 0 0 0 rg BT 76.94 460.25 Td (1. EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 205.38 460.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 439.25 Td (Information with respect to executive compensation will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.03 439.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.03 439.25 Td ( Proxy Statement under the headings Part II ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 427.25 Td ( Executive Compensation Information and Part III Proposals ) Tj ET Q q 0 0 0 rg BT 326.14 427.25 Td (T) Tj ET Q q 0 0 0 rg BT 331.55 427.25 Td (o Be ) Tj ET Q q 0 0 0 rg BT 352.48 427.25 Td (V) Tj ET Q q 0 0 0 rg BT 358.41 427.25 Td (oted On ) Tj ET Q q 0 0 0 rg BT 392.30 427.25 Td (At ) Tj ET Q q 0 0 0 rg BT 404.62 427.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.67 427.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.67 427.25 Td ( ) Tj ET Q q 0 0 0 rg BT 444.61 427.25 Td (Annual Meeting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 415.25 Td (Proposal 1 Election of Directors, which information is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Item 12. SECURITY) Tj ET Q q 0 0 0 rg BT 141.30 382.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 205.48 382.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 221.49 382.25 Td ( CER) Tj ET Q q 0 0 0 rg BT 244.76 382.25 Td (T) Tj ET Q q 0 0 0 rg BT 250.68 382.25 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 333.20 382.25 Td ( OWNERS ) Tj ET Q q 0 0 0 rg BT 382.10 382.25 Td (AND MANAGEMENT) Tj ET Q q 0 0 0 rg BT 481.64 382.25 Td ( ) Tj ET Q q 0 0 0 rg BT 483.59 382.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 534.79 382.25 Td (TED ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.50 370.25 Td (ST) Tj ET Q q 0 0 0 rg BT 102.55 370.25 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 187.09 370.25 Td (TTERS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.25 Td (Information with respect to security ownership of certain beneficial owners and management will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.85 349.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.85 349.25 Td ( Proxy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.25 Td (Statement under the subheading Part IV) Tj ET Q q 0 0 0 rg BT 216.44 337.25 Td ( Other Important Information Beneficial Ownership of Class) Tj ET Q q 0 0 0 rg BT 485.83 337.25 Td (A) Tj ET Q q 0 0 0 rg BT 492.50 337.25 Td ( Common and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.25 Td (ClassB Common, which information is incorporated herein by reference.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (Information with respect to compensation plans \(including individual compensation arrangements\) under which equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.25 Td (securities are authorized for issuance will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.75 295.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.75 295.25 Td ( Proxy Statement under the subheading Part IV) Tj ET Q q 0 0 0 rg BT 503.58 295.25 Td ( Other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.25 Td (Important Information Equity Compensation Plan Information," which information is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (Item 13. CER) Tj ET Q q 0 0 0 rg BT 108.25 250.25 Td (T) Tj ET Q q 0 0 0 rg BT 114.18 250.25 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 162.06 250.25 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 218.47 250.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 269.67 250.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 292.55 250.25 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 376.46 250.25 Td (AND DIRECT) Tj ET Q q 0 0 0 rg BT 439.35 250.25 Td (OR INDEPENDENCE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (Information with respect to certain relationships and related transactions will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.38 229.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.38 229.25 Td ( Proxy Statement under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 217.25 Td (subheadings Part I Corporate Governance Information Review and ) Tj ET Q q 0 0 0 rg BT 348.80 217.25 Td (Approval of Related-Person ) Tj ET Q q 0 0 0 rg BT 463.32 217.25 Td (T) Tj ET Q q 0 0 0 rg BT 469.07 217.25 Td (ransactions, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (information is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (Item 14. PRINCIP) Tj ET Q q 0 0 0 rg BT 128.41 172.25 Td (AL) Tj ET Q q 0 0 0 rg BT 141.75 172.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.70 172.25 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 193.52 172.25 Td (ANT) Tj ET Q q 0 0 0 rg BT 214.45 172.25 Td ( FEES ) Tj ET Q q 0 0 0 rg BT 243.91 172.25 Td (AND SER) Tj ET Q q 0 0 0 rg BT 287.17 172.25 Td (VICES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 151.25 Td (Information with respect to principal accountant fees and services will be set forth in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.27 151.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.27 151.25 Td ( Proxy Statement under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 139.25 Td (heading Part III Proposals ) Tj ET Q q 0 0 0 rg BT 173.40 139.25 Td (T) Tj ET Q q 0 0 0 rg BT 178.81 139.25 Td (o Be ) Tj ET Q q 0 0 0 rg BT 199.74 139.25 Td (V) Tj ET Q q 0 0 0 rg BT 205.67 139.25 Td (oted On ) Tj ET Q q 0 0 0 rg BT 239.56 139.25 Td (At ) Tj ET Q q 0 0 0 rg BT 251.88 139.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.93 139.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.93 139.25 Td ( ) Tj ET Q q 0 0 0 rg BT 291.88 139.25 Td (Annual Meeting Proposal 5 Ratification of the ) Tj ET Q q 0 0 0 rg BT 504.34 139.25 Td (Appointment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 127.25 Td (of Company's Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 232.60 127.25 Td (Accounting Firm, which information is incorporated herein by reference.) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.30 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 291.67 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 305.76 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 312.25 742.25 Td ( IV) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (Item 15. EXHIBITS ) Tj ET Q q 0 0 0 rg BT 137.79 718.25 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 218.08 718.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 232.07 718.25 Td (A) Tj ET Q q 0 0 0 rg BT 238.54 718.25 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 281.70 718.25 Td ( SCHEDULES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 697.25 Td (\(a\) \(1\)and \(2\)) Tj ET Q q 0 0 0 rg BT 108.68 697.25 Td (The response to Item15\(a\)\(1\) and \(2\)is set forth beginning at page F-1 of this Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 679.25 Td (\(b\)Financial Statement Schedules ) Tj ET Q q 0 0 0 rg BT 201.73 679.25 Td (The response to Item 15\(c\) is set forth beginning at page F-34 of this Form 10-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 661.25 Td (\(c\) Exhibits required by Item601 of Regulation S-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 641.32 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.32 Td (Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.00 641.48 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 641.32 Td (Exhibit Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 606.32 Td (\(3\)) Tj ET Q q 0 0 0 rg BT 66.88 606.32 Td (Articles of Incorporation and By-laws.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 587.32 Td (3.1\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 587.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 587.32 Td (Restated Certificate of Incorporation of the Company is incorporated herein by reference to Exhibit 3\(i\) to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 577.32 Td (Company) Tj ET Q q 0 0 0 rg BT 138.94 577.32 Td (s ) Tj ET Q q 0 0 0 rg BT 144.78 577.32 Td (Annual Report on Form 10-K for the fiscal year ended December 31, 1992, Commission File Number) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 567.32 Td (1-9172.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.32 Td (3.1\(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 552.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 552.32 Td (Amended and Restated By-laws of the Company are incorporated herein by reference to Exhibit 3.1 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 542.32 Td (Company) Tj ET Q q 0 0 0 rg BT 138.67 542.32 Td (s Current Report on Form 8-K, filed by the Company on December 18, 2014, Commission File Number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 532.32 Td (1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.32 Td (\(4\) Instruments defining the rights of security holders, including indentures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 481.32 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 450.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 481.32 Td (The Company by this filing agrees, upon request, to file with the Securities and Exchange Commission the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 471.32 Td (instruments defining the rights of holders of long-term debt of the Company and its subsidiaries where the total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 461.32 Td (amount of securities authorized thereunder does not exceed 10% of the total assets of the Company and its) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 451.32 Td (subsidiaries on a consolidated basis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 436.32 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 405.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 436.32 Td (The Mortgage and Security ) Tj ET Q q 0 0 0 rg BT 208.91 436.32 Td (Agreement, dated ) Tj ET Q q 0 0 0 rg BT 281.94 436.32 Td (April8, 1976, between ) Tj ET Q q 0 0 0 rg BT 376.00 436.32 Td (The Falkirk Mining Company \(as Mortgagor\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 426.32 Td (and Cooperative Power ) Tj ET Q q 0 0 0 rg BT 193.09 426.32 Td (Association and United Power ) Tj ET Q q 0 0 0 rg BT 316.96 426.32 Td (Association \(collectively) Tj ET Q q 0 0 0 rg BT 416.05 426.32 Td (, as Mortgagee\) is incorporated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 416.32 Td (herein by reference to Exhibit4\(ii\) to the Company) Tj ET Q q 0 0 0 rg BT 305.54 416.32 Td (s ) Tj ET Q q 0 0 0 rg BT 311.38 416.32 Td (Annual Report on Form 10-K for the fiscal year ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 406.32 Td (December31, 1992, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 391.32 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 360.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 391.32 Td (Amendment No.1 to the Mortgage and Security ) Tj ET Q q 0 0 0 rg BT 292.52 391.32 Td (Agreement, dated as of December15, 1993, between Falkirk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 381.32 Td (Mining Company \(as Mortgagor\) and Cooperative Power ) Tj ET Q q 0 0 0 rg BT 329.18 381.32 Td (Association and United Power ) Tj ET Q q 0 0 0 rg BT 453.05 381.32 Td (Association \(collectively) Tj ET Q q 0 0 0 rg BT 552.14 381.32 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 371.32 Td (as Mortgagee\) is incorporated herein by reference to Exhibit 4\(iii\) to the Company) Tj ET Q q 0 0 0 rg BT 430.50 371.32 Td (s ) Tj ET Q q 0 0 0 rg BT 436.34 371.32 Td (Annual Report on Form 10-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 361.32 Td (for the fiscal year ended December31, 1997, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.32 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 346.32 Td (Amended and Restated Stockholders' ) Tj ET Q q 0 0 0 rg BT 248.22 346.32 Td (Agreement, dated as of September 29, 2017, among NACCO Industries, Inc., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 336.32 Td (the other signatories thereto and NACCO Industries, Inc., as depository) Tj ET Q q 0 0 0 rg BT 382.40 336.32 Td (, is incorporated by reference to Exhibit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 326.32 Td (10.4 to the Company's Current Report on Form 8-K, filed by the Company on October 5, 2017, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 316.32 Td (Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 301.32 Td (4.5**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 301.32 Td (Amendment to ) Tj ET Q q 0 0 0 rg BT 158.66 301.32 Td (Amended and Restated Stockholders' ) Tj ET Q q 0 0 0 rg BT 309.88 301.32 Td (Agreement, dated as of February 14, 2019, among NACCO ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 291.32 Td (Industries, Inc., the other signatories thereto and NACCO Industries, Inc., as depository) Tj ET Q q 0 0 0 rg BT 447.11 291.32 Td (, is incorporated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 281.32 Td (reference to Exhibit 4.5 to the Company's ) Tj ET Q q 0 0 0 rg BT 265.43 281.32 Td (Annual Report on Form 10-K for the fiscal year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 271.32 Td (2018, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 739.07 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 729.07 Td (Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.00 739.23 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 739.07 Td (Exhibit Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 703.17 Td (\(10\) Material contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 689.07 Td (10.1*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 668.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 689.07 Td (NACCO Industries, Inc. Supplemental Executive Long-T) Tj ET Q q 0 0 0 rg BT 325.53 689.07 Td (erm Incentive Bonus Plan \(Amended and Restated March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 679.07 Td (1, 2012\) is incorporated herein by reference to ) Tj ET Q q 0 0 0 rg BT 283.43 679.07 Td (Appendix B to NACCO's Definitive Proxy Statement, filed by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 669.07 Td (NACCO on March 16, 2012, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 654.07 Td (10.2*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 633.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 654.07 Td (NACCO Industries, Inc. Executive Long-T) Tj ET Q q 0 0 0 rg BT 268.04 654.07 Td (erm Incentive Compensation Plan \(Amended and Restated March 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 644.07 Td (2017\) is incorporated herein by reference to ) Tj ET Q q 0 0 0 rg BT 273.43 644.07 Td (Appendix ) Tj ET Q q 0 0 0 rg BT 314.81 644.07 Td (A) Tj ET Q q 0 0 0 rg BT 321.48 644.07 Td ( to NACCO's Definitive Proxy Statement, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 634.07 Td (Company on March 27, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 619.07 Td (10.3*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 598.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 619.07 Td (NACCO Industries, Inc. Non-Employee Directors' Equity Compensation Plan \(Amended and Restated May 9, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 609.07 Td (2017\) is incorporated herein by reference to ) Tj ET Q q 0 0 0 rg BT 273.43 609.07 Td (Appendix B to NACCO's Definitive Proxy Statement, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 599.07 Td (Company on March 27, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 584.07 Td (10.4*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 583.17 Td (NACCO Industries, Inc. Executive Excess Retirement Plan \(Ef) Tj ET Q q 0 0 0 rg BT 348.26 583.17 Td (fective as of September 28, 2012\) is incorporated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 573.17 Td (reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, filed by the Company on September 17, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 563.17 Td (2012, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 549.07 Td (10.5*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 548.17 Td (Amendment No. 1 to NACCO Industries, Inc. Executive Excess Retirement Plan \(Ef) Tj ET Q q 0 0 0 rg BT 435.19 548.17 Td (fective as of September 28, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 538.17 Td (2012\) is incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 528.17 Td (Company on September 20, 2017, Commission File Number I-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 514.07 Td (10.6*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 513.17 Td (Form of ) Tj ET Q q 0 0 0 rg BT 130.45 513.17 Td (A) Tj ET Q q 0 0 0 rg BT 136.75 513.17 Td (ward ) Tj ET Q q 0 0 0 rg BT 158.69 513.17 Td (Agreement for the NACCO Industries, Inc. Supplemental Executive Long-T) Tj ET Q q 0 0 0 rg BT 464.02 513.17 Td (erm Incentive Bonus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 503.17 Td (Plan is incorporated by reference to Exhibit 10.8 to the Company's Current Report on Form 8-K, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 493.17 Td (Company on September 17, 2012, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 479.07 Td (10.7*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 478.17 Td (Form of Cashless Exercise ) Tj ET Q q 0 0 0 rg BT 204.87 478.17 Td (A) Tj ET Q q 0 0 0 rg BT 211.18 478.17 Td (ward ) Tj ET Q q 0 0 0 rg BT 233.11 478.17 Td (Agreement for the NACCO Industries, Inc. Executive Long-T) Tj ET Q q 0 0 0 rg BT 480.96 478.17 Td (erm Incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 468.17 Td (Compensation Plan is incorporated herein by reference to Exhibit 10.1 to the Quarterly Report on Form 10-Q, filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 458.17 Td (by the Company on ) Tj ET Q q 0 0 0 rg BT 176.55 458.17 Td (August 1, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 444.07 Td (10.8*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 444.07 Td (Form of Non-Cashless Exercise ) Tj ET Q q 0 0 0 rg BT 225.42 444.07 Td (A) Tj ET Q q 0 0 0 rg BT 231.73 444.07 Td (ward ) Tj ET Q q 0 0 0 rg BT 253.67 444.07 Td (Agreement for the NACCO Industries, Inc. Executive Long-T) Tj ET Q q 0 0 0 rg BT 501.51 444.07 Td (erm Incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 434.07 Td (Compensation Plan is incorporated herein by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q, filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 424.07 Td (by the Company on ) Tj ET Q q 0 0 0 rg BT 176.55 424.07 Td (August 1, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 409.07 Td (10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 409.07 Td (Separation ) Tj ET Q q 0 0 0 rg BT 140.71 409.07 Td (Agreement, dated as of September 29, 2017, between NACCO Industries, Inc. and Hamilton Beach ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 399.07 Td (Brands Holding Company) Tj ET Q q 0 0 0 rg BT 200.35 399.07 Td (, is incorporated by reference to Exhibit 10.1 of Hamilton Beach Brands Holding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 389.07 Td (Company's Current Report on Form 8-K, filed on October 4, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 374.07 Td (10.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 374.07 Td (T) Tj ET Q q 0 0 0 rg BT 101.41 374.07 Td (ax ) Tj ET Q q 0 0 0 rg BT 112.80 374.07 Td (Allocation ) Tj ET Q q 0 0 0 rg BT 156.96 374.07 Td (Agreement, dated as of September 29, 2017, between NACCO Industries, Inc. and Hamilton Beach ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 364.07 Td (Brands Holding Company) Tj ET Q q 0 0 0 rg BT 200.35 364.07 Td (, is incorporated by reference to Exhibit 10.3 of Hamilton Beach Brands Holding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 354.07 Td (Company's Current Report on Form 8-K, filed on October 4, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 339.07 Td (10.1) Tj ET Q q 0 0 0 rg BT 69.31 339.07 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 339.07 Td (Consulting ) Tj ET Q q 0 0 0 rg BT 141.84 339.07 Td (Agreement, dated as of September 29, 2017, between NACCO Industries, Inc. and ) Tj ET Q q 0 0 0 rg BT 474.26 339.07 Td (Alfred M. Rankin, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 329.07 Td (Jr) Tj ET Q q 0 0 0 rg BT 102.67 329.07 Td (., is incorporated by reference to Exhibit 10.5 of NACCO Industries, Inc.'s Current Report on Form 8-K, filed on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 319.07 Td (October 5, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 304.07 Td (10.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 304.07 Td (T) Tj ET Q q 0 0 0 rg BT 101.76 304.07 Td (ransfer Restriction ) Tj ET Q q 0 0 0 rg BT 177.85 304.07 Td (Agreement, dated as of September29, 2017, by and among the Issuer) Tj ET Q q 0 0 0 rg BT 455.70 304.07 Td (, NACCO and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 294.07 Td (signatories thereto, is incorporated by reference to Exhibit 2 of Hamilton Beach Brands Holding Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 284.07 Td (General statement of acquisition of beneficial ownership on Form SC 13D, filed on October 6, 2017, Commission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 274.07 Td (File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 259.07 Td (10.13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 259.07 Td (T) Tj ET Q q 0 0 0 rg BT 101.76 259.07 Td (ransition Services ) Tj ET Q q 0 0 0 rg BT 175.08 259.07 Td (Agreement, dated as of September 29, 2017, between NACCO Industries, Inc. and Hamilton ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 249.07 Td (Beach Brands Holding Company) Tj ET Q q 0 0 0 rg BT 227.83 249.07 Td (, is incorporated by reference to Exhibit 10.2 of Hamilton Beach Brands Holding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 239.07 Td (Company's Current Report on Form 8-K, filed on October 4, 2017, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 224.07 Td (10.14**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 224.07 Td (Amendment No. 1 to the ) Tj ET Q q 0 0 0 rg BT 197.47 224.07 Td (T) Tj ET Q q 0 0 0 rg BT 203.23 224.07 Td (ransition Services ) Tj ET Q q 0 0 0 rg BT 276.55 224.07 Td (Agreement, dated as of September 29, 2018, is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 214.07 Td (reference to Exhibit 10.14 to the Company's ) Tj ET Q q 0 0 0 rg BT 274.43 214.07 Td (Annual Report on Form 10-K for the fiscal year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 204.07 Td (2018, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 189.07 Td (10.15**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 189.07 Td (Amendment No. 2 to the ) Tj ET Q q 0 0 0 rg BT 197.47 189.07 Td (T) Tj ET Q q 0 0 0 rg BT 203.23 189.07 Td (ransition Services ) Tj ET Q q 0 0 0 rg BT 276.55 189.07 Td (Agreement, dated as of December 18, 2018, is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 179.07 Td (reference to Exhibit 10.15 to the Company's ) Tj ET Q q 0 0 0 rg BT 274.43 179.07 Td (Annual Report on Form 10-K for the fiscal year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 169.07 Td (2018, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 154.07 Td (10.16*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 153.17 Td (NACCO Industries, Inc. ) Tj ET Q q 0 0 0 rg BT 195.16 153.17 Td (Annual Incentive Compensation Plan \(Ef) Tj ET Q q 0 0 0 rg BT 359.94 153.17 Td (fective as of September 28, 2012\) is incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 143.17 Td (herin by reference to ) Tj ET Q q 0 0 0 rg BT 180.96 143.17 Td (Appendix ) Tj ET Q q 0 0 0 rg BT 222.34 143.17 Td (A) Tj ET Q q 0 0 0 rg BT 229.01 143.17 Td ( to NACCO's Definitive Proxy Statement, filed by the Company on March 22, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.00 133.17 Td (2013, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 739.07 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 729.07 Td (Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.00 739.23 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 739.07 Td (Exhibit Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 704.07 Td (10.17*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 704.07 Td (The Retirement Benefit Plan for ) Tj ET Q q 0 0 0 rg BT 227.80 704.07 Td (Alfred M. Rankin, Jr) Tj ET Q q 0 0 0 rg BT 310.84 704.07 Td (. \(Amended and Restated Ef) Tj ET Q q 0 0 0 rg BT 423.68 704.07 Td (fective as of January 1, 2014\) is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 694.07 Td (incorporated herein by reference to Exhibit10.2 to the Company) Tj ET Q q 0 0 0 rg BT 358.58 694.07 Td (s Quarterly Report on Form 8-K, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 684.07 Td (Company on February 14, 2014, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 669.07 Td (10.18*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 669.07 Td (NACCO Industries, Inc. Unfunded Benefit Plan \(Amended and Restated Ef) Tj ET Q q 0 0 0 rg BT 399.25 669.07 Td (fective as of January 1, 2014\) is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 659.07 Td (incorporated herein by reference to Exhibit10.3 to the Company) Tj ET Q q 0 0 0 rg BT 358.58 659.07 Td (s Quarterly Report on Form 8-K, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 649.07 Td (Company on February 14, 2014, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.07 Td (10.19*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 613.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 634.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 140.33 634.07 Td (American Coal Corporation Supplemental Retirement Benefit Plan \(Amended and Restated as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 624.07 Td (January1, 2008\) is incorporated herein by reference to Exhibit10.12 to the Company) Tj ET Q q 0 0 0 rg BT 442.18 624.07 Td (s Current Report on Form 8-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 614.07 Td (K, filed by the Company on December19, 2007, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 599.07 Td (10.20*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 599.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 140.33 599.07 Td (American Coal Corporation Long-T) Tj ET Q q 0 0 0 rg BT 284.31 599.07 Td (erm Incentive Compensation Plan \(Ef) Tj ET Q q 0 0 0 rg BT 435.20 599.07 Td (fective as of January 1, 2016\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 589.07 Td (is is incorporated herein by reference to Exhibit10.1 to the Company) Tj ET Q q 0 0 0 rg BT 376.92 589.07 Td (s Current Report on Form 8-K, filed by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 579.07 Td (Company on May 1) Tj ET Q q 0 0 0 rg BT 176.35 579.07 Td (1, 2016, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 564.07 Td (10.21*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 543.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 564.07 Td (Amendment No.1 to ) Tj ET Q q 0 0 0 rg BT 183.75 564.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 227.08 564.07 Td (America Coal Corporation Supplemental Retirement Benefit Plan \(Amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 554.07 Td (Restated as of January1, 2008\) is incorporated herein by reference to Exhibit 10.41 to the Company's ) Tj ET Q q 0 0 0 rg BT 505.64 554.07 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 544.07 Td (Report on Form 10-K for the fiscal year ended December 31, 2009, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 529.07 Td (10.22*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 529.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 140.33 529.07 Td (American Coal Corporation ) Tj ET Q q 0 0 0 rg BT 253.91 529.07 Td (Annual Incentive Compensation Plan \(Amended and Restated Ef) Tj ET Q q 0 0 0 rg BT 513.94 529.07 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 519.07 Td (March 1, 2015\) is incorporated herein by reference to Exhibit10.3 to the Company) Tj ET Q q 0 0 0 rg BT 432.18 519.07 Td (s Current Report on Form 8-K, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 509.07 Td (filed by the Company on May 18, 2015, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 494.07 Td (10.23*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 473.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 494.07 Td (Amendment No.2 to ) Tj ET Q q 0 0 0 rg BT 183.75 494.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 227.08 494.07 Td (American Coal Corporation Supplemental Retirement Benefit Plan \(Amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 484.07 Td (Restated as of January1, 2008\) is incorporated herein by reference to Exhibit 10.40 to the Company's ) Tj ET Q q 0 0 0 rg BT 505.64 484.07 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 474.07 Td (Report on Form 10-K for the fiscal year ended December 31, 2010, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 459.07 Td (10.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 459.07 Td (Coteau Lignite Sales ) Tj ET Q q 0 0 0 rg BT 182.26 459.07 Td (Agreement by and between ) Tj ET Q q 0 0 0 rg BT 294.26 459.07 Td (The Coteau Properties Company and Dakota Coal Company) Tj ET Q q 0 0 0 rg BT 535.51 459.07 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 449.07 Td (dated as of January 1, 1990, is incorporated herein by reference to Exhibit10.1) Tj ET Q q 0 0 0 rg BT 412.63 449.07 Td (1 to the Company) Tj ET Q q 0 0 0 rg BT 486.79 449.07 Td (s Quarterly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 439.07 Td (Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 424.07 Td (10.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 424.07 Td (First ) Tj ET Q q 0 0 0 rg BT 117.29 424.07 Td (Amendment to Coteau Lignite Sales ) Tj ET Q q 0 0 0 rg BT 264.76 424.07 Td (Agreement by and between ) Tj ET Q q 0 0 0 rg BT 376.76 424.07 Td (The Coteau Properties Company and Dakota ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 414.07 Td (Coal Company) Tj ET Q q 0 0 0 rg BT 156.62 414.07 Td (, dated as of June 1, 1994, is incorporated herein by reference to Exhibit10.12 to the Company) Tj ET Q q 0 0 0 rg BT 539.02 414.07 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 404.07 Td (Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 389.07 Td (10.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 389.07 Td (Second ) Tj ET Q q 0 0 0 rg BT 128.39 389.07 Td (Amendment to Coteau Lignite Sales ) Tj ET Q q 0 0 0 rg BT 275.86 389.07 Td (Agreement by and between ) Tj ET Q q 0 0 0 rg BT 387.86 389.07 Td (The Coteau Properties Company and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 379.07 Td (Dakota Coal Company) Tj ET Q q 0 0 0 rg BT 188.00 379.07 Td (, dated as of January 1, 1997, is incorporated herein by reference to Exhibit10.13 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 369.07 Td (Company) Tj ET Q q 0 0 0 rg BT 138.67 369.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 359.07 Td (Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 344.07 Td (10.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 344.07 Td (Option and Put ) Tj ET Q q 0 0 0 rg BT 159.50 344.07 Td (Agreement by and among ) Tj ET Q q 0 0 0 rg BT 265.40 344.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 308.73 344.07 Td (American Coal Corporation, Dakota Coal Company and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 334.07 Td (State of North Dakota, dated as of January 1, 1990, is incorporated herein by reference to Exhibit10.14 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 324.07 Td (Company) Tj ET Q q 0 0 0 rg BT 138.67 324.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 314.07 Td (Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.07 Td (10.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 299.07 Td (First ) Tj ET Q q 0 0 0 rg BT 117.29 299.07 Td (Amendment to the Option and Put ) Tj ET Q q 0 0 0 rg BT 256.72 299.07 Td (Agreement by and among ) Tj ET Q q 0 0 0 rg BT 362.62 299.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 405.95 299.07 Td (American Coal Corporation, Dakota ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 289.07 Td (Coal Company and the State of North Dakota, dated as of June 1, 1994, is incorporated herein by reference to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 279.07 Td (Exhibit10.15 to the Company) Tj ET Q q 0 0 0 rg BT 220.60 279.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 269.07 Td (Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 254.07 Td (10.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 254.07 Td (Lignite Sales ) Tj ET Q q 0 0 0 rg BT 151.44 254.07 Td (Agreement by and between Mississippi Lignite Mining Company and Choctaw Generation Limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 244.07 Td (Partnership, dated as of ) Tj ET Q q 0 0 0 rg BT 192.81 244.07 Td (April 1, 1998, is incorporated herein by reference to Exhibit10.16 to the Company) Tj ET Q q 0 0 0 rg BT 527.17 244.07 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 234.07 Td (Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 219.07 Td (10.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 219.07 Td (First ) Tj ET Q q 0 0 0 rg BT 117.29 219.07 Td (Amendment to Lignite Sales ) Tj ET Q q 0 0 0 rg BT 233.94 219.07 Td (Agreement by and between Mississippi Lignite Mining Company and Choctaw ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 209.07 Td (Generation Limited Partnership, dated as of ) Tj ET Q q 0 0 0 rg BT 273.89 209.07 Td (August 30, 2016, is incorporated herein by reference to Exhibit10.1 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 199.07 Td (the Company) Tj ET Q q 0 0 0 rg BT 153.38 199.07 Td (s Quarterly Report on Form 10-Q, filed by the Company on November 1, 2016, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 189.07 Td (Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 174.07 Td (10.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 174.07 Td (Pay Scale ) Tj ET Q q 0 0 0 rg BT 138.10 174.07 Td (Agreement by and between Mississippi Lignite Mining Company and Choctaw Generation Limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 164.07 Td (Partnership, dated as of September 29, 2005, is incorporated herein by reference to Exhibit10.17 to the Company) Tj ET Q q 0 0 0 rg BT 554.38 164.07 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 154.07 Td (Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 139.07 Td (10.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 139.07 Td (Consent and ) Tj ET Q q 0 0 0 rg BT 148.67 139.07 Td (Agreement by and among Mississippi Lignite Mining Company) Tj ET Q q 0 0 0 rg BT 404.38 139.07 Td (, Choctaw Generation Limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 129.07 Td (Partnership, SE Choctaw L.L.C. and Citibank, N.A., dated as of December 20, 2002, is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 119.07 Td (reference to Exhibit10.29 to the Company) Tj ET Q q 0 0 0 rg BT 270.56 119.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 109.07 Td (20, 2013, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 739.07 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 729.07 Td (Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.00 739.23 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 739.07 Td (Exhibit Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 714.07 Td (10.33**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 714.07 Td (Amendment No. 1 to Lignite Sales ) Tj ET Q q 0 0 0 rg BT 238.37 714.07 Td (Agreement, Settlement ) Tj ET Q q 0 0 0 rg BT 332.51 714.07 Td (Agreement and Release by and between Mississippi ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 704.07 Td (Lignite Mining Company and Choctaw Generation Limited Partnership, LLLP) Tj ET Q q 0 0 0 rg BT 411.11 704.07 Td (, dated as of November 16, 2018, is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 694.07 Td (incorporated herein by reference to Exhibit 10.33 to the Company's ) Tj ET Q q 0 0 0 rg BT 368.45 694.07 Td (Annual Report on Form 10-K for the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 684.07 Td (year ended December 31, 2018, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 669.07 Td (10.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 669.07 Td (Second Restatement of Coal Sales ) Tj ET Q q 0 0 0 rg BT 236.14 669.07 Td (Agreement by and between ) Tj ET Q q 0 0 0 rg BT 348.14 669.07 Td (The Falkirk Mining Company and Great River ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 659.07 Td (Ener) Tj ET Q q 0 0 0 rg BT 115.70 659.07 Td (gy) Tj ET Q q 0 0 0 rg BT 125.05 659.07 Td (, dated as of January 1, 2007, is incorporated herein by reference to Exhibit10.18 to the Company) Tj ET Q q 0 0 0 rg BT 520.21 659.07 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 649.07 Td (Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 634.07 Td (10.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 634.07 Td (Amendment No. 1 to Second Restatement of Coal Sales ) Tj ET Q q 0 0 0 rg BT 323.07 634.07 Td (Agreement, by and between ) Tj ET Q q 0 0 0 rg BT 437.57 634.07 Td (The Falkirk Mining Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 624.07 Td (and Great River Ener) Tj ET Q q 0 0 0 rg BT 182.06 624.07 Td (gy) Tj ET Q q 0 0 0 rg BT 191.41 624.07 Td (, dated as of January 21, 201) Tj ET Q q 0 0 0 rg BT 305.45 624.07 Td (1, is incorporated herein by reference to Exhibit10.19 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 614.07 Td (Company) Tj ET Q q 0 0 0 rg BT 138.67 614.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 604.07 Td (Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 589.07 Td (10.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 589.07 Td (Amendment No. 2 to Second Restatement of Coal Sales ) Tj ET Q q 0 0 0 rg BT 323.07 589.07 Td (Agreement, by and between ) Tj ET Q q 0 0 0 rg BT 437.57 589.07 Td (The Falkirk Mining Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 579.07 Td (and Great River Ener) Tj ET Q q 0 0 0 rg BT 182.06 579.07 Td (gy) Tj ET Q q 0 0 0 rg BT 191.41 579.07 Td (, dated as of March 1, 2014, is incorporated herein by reference to Exhibit 10.52 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 569.07 Td (Company's ) Tj ET Q q 0 0 0 rg BT 143.53 569.07 Td (Annual Report on Form 10-K for the fiscal year ended December 31, 2013, Commission File Number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 559.07 Td (1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 544.07 Td (10.37**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 544.07 Td (Amendment No. 3 to Second Restatement of Coal Sales ) Tj ET Q q 0 0 0 rg BT 323.07 544.07 Td (Agreement, by and between ) Tj ET Q q 0 0 0 rg BT 437.57 544.07 Td (The Falkirk Mining Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 534.07 Td (and Great River Ener) Tj ET Q q 0 0 0 rg BT 182.06 534.07 Td (gy) Tj ET Q q 0 0 0 rg BT 191.41 534.07 Td (, dated as of January 1, 2019, is incorporated herein by reference to Exhibit 10.37 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 524.07 Td (Company's ) Tj ET Q q 0 0 0 rg BT 143.53 524.07 Td (Annual Report on Form 10-K for the fiscal year ended December 31, 2018, Commission File Number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 514.07 Td (1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.07 Td (10.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 499.07 Td (Restatement of Option ) Tj ET Q q 0 0 0 rg BT 189.49 499.07 Td (Agreement by and among ) Tj ET Q q 0 0 0 rg BT 295.38 499.07 Td (The Falkirk Mining Company) Tj ET Q q 0 0 0 rg BT 415.00 499.07 Td (, Cooperative Power ) Tj ET Q q 0 0 0 rg BT 498.88 499.07 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 489.07 Td (United Power ) Tj ET Q q 0 0 0 rg BT 154.22 489.07 Td (Association, and the State of North Dakota, dated as of January 1, 1997, is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 479.07 Td (reference to Exhibit10.20 to the Company) Tj ET Q q 0 0 0 rg BT 270.56 479.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 469.07 Td (20, 2013, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 454.07 Td (10.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 454.07 Td (Third Restatement of Lignite Mining ) Tj ET Q q 0 0 0 rg BT 247.25 454.07 Td (Agreement by and between ) Tj ET Q q 0 0 0 rg BT 359.25 454.07 Td (The Sabine Mining Company and Southwestern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 444.07 Td (Electric Power Company) Tj ET Q q 0 0 0 rg BT 196.88 444.07 Td (, dated as of January 1, 2008, is incorporated herein by reference to Exhibit10.21 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 434.07 Td (Company) Tj ET Q q 0 0 0 rg BT 138.67 434.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 424.07 Td (Number 1-9172.+) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 409.07 Td (10.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 409.07 Td (Amendment No. 1 to ) Tj ET Q q 0 0 0 rg BT 183.75 409.07 Td (Third Restatement of Lignite Mining ) Tj ET Q q 0 0 0 rg BT 334.01 409.07 Td (Agreement by and between ) Tj ET Q q 0 0 0 rg BT 446.00 409.07 Td (The Sabine Mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 399.07 Td (Company and Southwestern Electric Power Company) Tj ET Q q 0 0 0 rg BT 312.14 399.07 Td (, dated as of October 18, 2013 is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 389.07 Td (reference to Exhibit 10.43 to the Company's ) Tj ET Q q 0 0 0 rg BT 275.43 389.07 Td (Annual Report on Form 10-K for the fiscal year ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 379.07 Td (2014, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 364.07 Td (10.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 364.07 Td (Option ) Tj ET Q q 0 0 0 rg BT 126.73 364.07 Td (Agreement by and among ) Tj ET Q q 0 0 0 rg BT 232.63 364.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 275.95 364.07 Td (American Coal Corporation, Southwestern Electric Power Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 354.07 Td (and Longview National Bank, dated as of January 15, 1981, is incorporated herein by reference to Exhibit10.22 to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 344.07 Td (the Company) Tj ET Q q 0 0 0 rg BT 153.38 344.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, Commission File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 334.07 Td (Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 319.07 Td (10.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 319.07 Td (Addendum to Option ) Tj ET Q q 0 0 0 rg BT 183.94 319.07 Td (Agreement, by and among ) Tj ET Q q 0 0 0 rg BT 292.34 319.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 335.67 319.07 Td (American Coal Corporation, Southwestern Electric ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 309.07 Td (Power Company and Longview National Bank, dated as of January 15, 1981 is incorporated herein by reference to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 299.07 Td (Exhibit10.23 to the Company) Tj ET Q q 0 0 0 rg BT 220.60 299.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 289.07 Td (Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 274.07 Td (10.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 274.07 Td (Amendment to Option ) Tj ET Q q 0 0 0 rg BT 188.94 274.07 Td (Agreement, by and among ) Tj ET Q q 0 0 0 rg BT 297.34 274.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 340.66 274.07 Td (American Coal Corporation, Southwestern Electric ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 264.07 Td (Power Company and Longview National Bank, dated as of December 2, 1996, is incorporated herein by reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 254.07 Td (to Exhibit10.24 to the Company) Tj ET Q q 0 0 0 rg BT 230.88 254.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 244.07 Td (Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 229.07 Td (10.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 229.07 Td (Second ) Tj ET Q q 0 0 0 rg BT 128.39 229.07 Td (Amendment to Option ) Tj ET Q q 0 0 0 rg BT 220.33 229.07 Td (Agreement, by and among ) Tj ET Q q 0 0 0 rg BT 328.72 229.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 372.05 229.07 Td (American Coal Corporation, Southwestern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 219.07 Td (Electric Power Company and Regions Bank, dated as of January 1, 2008, is incorporated herein by reference to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 209.07 Td (Exhibit10.25 to the Company) Tj ET Q q 0 0 0 rg BT 220.60 209.07 Td (s Quarterly Report on Form 10-Q/A, filed by the Company on March 20, 2013, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 199.07 Td (Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 184.07 Td (10.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 184.07 Td (Agreement by and among ) Tj ET Q q 0 0 0 rg BT 202.90 184.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 246.22 184.07 Td (American Coal Corporation, Southwestern Electric Power Company) Tj ET Q q 0 0 0 rg BT 519.68 184.07 Td (, ) Tj ET Q q 0 0 0 rg BT 524.50 184.07 Td (T) Tj ET Q q 0 0 0 rg BT 529.91 184.07 Td (exas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 174.07 Td (Commerce Bank-Longview) Tj ET Q q 0 0 0 rg BT 207.71 174.07 Td (, Nortex Mining Company and ) Tj ET Q q 0 0 0 rg BT 333.07 174.07 Td (The Sabine Mining Company) Tj ET Q q 0 0 0 rg BT 451.02 174.07 Td (, dated as of June 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 164.07 Td (1988, is incorporated herein by reference to Exhibit10.26 to the Company) Tj ET Q q 0 0 0 rg BT 397.75 164.07 Td (s Quarterly Report on Form 10-Q/A, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 154.07 Td (filed by the Company on March 20, 2013, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 139.07 Td (10.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 139.07 Td (Lignite Sales ) Tj ET Q q 0 0 0 rg BT 151.44 139.07 Td (Agreement between Coyote Creek Mining Company) Tj ET Q q 0 0 0 rg BT 362.13 139.07 Td (, L.L.C. and Otter ) Tj ET Q q 0 0 0 rg BT 435.82 139.07 Td (T) Tj ET Q q 0 0 0 rg BT 441.23 139.07 Td (ail Power Company) Tj ET Q q 0 0 0 rg BT 520.01 139.07 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 129.07 Td (Northern Municipal Power ) Tj ET Q q 0 0 0 rg BT 206.70 129.07 Td (Agency) Tj ET Q q 0 0 0 rg BT 237.15 129.07 Td (, Montana-Dakota Utilities Co. and Northwestern Corporation dated as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 119.07 Td (October 10, 2012 is incorporated herein by reference to Exhibit10.58 to the Company) Tj ET Q q 0 0 0 rg BT 444.96 119.07 Td (s ) Tj ET Q q 0 0 0 rg BT 450.80 119.07 Td (Annual Report on Form ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 109.07 Td (10-K, filed by the Company on March 6, 2013, Commission File Number 1-9172.++) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 739.07 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 729.07 Td (Number) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.00 739.23 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 739.07 Td (Exhibit Description) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 714.07 Td (10.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 714.07 Td (First ) Tj ET Q q 0 0 0 rg BT 117.29 714.07 Td (Amendment to Lignite Sales ) Tj ET Q q 0 0 0 rg BT 233.94 714.07 Td (Agreement, dated as of January 30, 2014, between Coyote Creek Mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 704.07 Td (Company) Tj ET Q q 0 0 0 rg BT 135.24 704.07 Td (, L.L.C. and Otter ) Tj ET Q q 0 0 0 rg BT 208.93 704.07 Td (T) Tj ET Q q 0 0 0 rg BT 214.34 704.07 Td (ail Power Company) Tj ET Q q 0 0 0 rg BT 293.12 704.07 Td (, Northern Municipal Power ) Tj ET Q q 0 0 0 rg BT 407.83 704.07 Td (Agency) Tj ET Q q 0 0 0 rg BT 438.27 704.07 Td (, Montana-Dakota Utilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 694.07 Td (Co., a division of MDU Resources Group, Inc. and NorthW) Tj ET Q q 0 0 0 rg BT 335.33 694.07 Td (estern Corporation is incorporated herein by reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 684.07 Td (to Exhibit10.1 to the Company) Tj ET Q q 0 0 0 rg BT 225.88 684.07 Td (s Quarterly Report on Form 8-K, filed by the Company on January 30, 2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 674.07 Td (Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.07 Td (10.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 659.07 Td (Second ) Tj ET Q q 0 0 0 rg BT 128.39 659.07 Td (Amendment to Lignite Sales ) Tj ET Q q 0 0 0 rg BT 245.04 659.07 Td (Agreement, dated as of March 16, 2015, between Coyote Creek Mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 649.07 Td (Company) Tj ET Q q 0 0 0 rg BT 135.24 649.07 Td (, L.L.C. and Otter ) Tj ET Q q 0 0 0 rg BT 208.93 649.07 Td (T) Tj ET Q q 0 0 0 rg BT 214.34 649.07 Td (ail Power Company) Tj ET Q q 0 0 0 rg BT 293.12 649.07 Td (, Northern Municipal Power ) Tj ET Q q 0 0 0 rg BT 407.83 649.07 Td (Agency) Tj ET Q q 0 0 0 rg BT 438.27 649.07 Td (, Montana-Dakota Utilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 639.07 Td (Co., a division of MDU Resources Group, Inc., and NorthW) Tj ET Q q 0 0 0 rg BT 337.83 639.07 Td (estern Corporation is incorporated herein by reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 629.07 Td (to Exhibit10.1 to the Company) Tj ET Q q 0 0 0 rg BT 225.88 629.07 Td (s Quarterly Report on Form 10-Q, filed by the Company on May 5, 2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 619.07 Td (Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 604.07 Td (10.49*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 604.07 Td (Amendment No.3 to ) Tj ET Q q 0 0 0 rg BT 183.75 604.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 227.08 604.07 Td (American Coal Corporation Supplemental Retirement Benefit Plan \(Amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 594.07 Td (Restated as of January1, 2008\) is incorporated herein by reference to Exhibit 10.1 to the Company's Quarterly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 584.07 Td (Report on Form 10-Q, filed by the Company on October 30, 2013, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.07 Td (10.50*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 569.07 Td (Amendment No.4 to ) Tj ET Q q 0 0 0 rg BT 183.75 569.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 227.08 569.07 Td (American Coal Corporation Supplemental Retirement Benefit Plan \(Amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 559.07 Td (Restated as of January1, 2008\) is incorporated herein by reference to Exhibit 10.54 to the Company's ) Tj ET Q q 0 0 0 rg BT 505.64 559.07 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 549.07 Td (Report on Form 10-K for the fiscal year ended December 31, 2014, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 534.07 Td (10.51*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 534.07 Td (Amendment No.5 to ) Tj ET Q q 0 0 0 rg BT 183.75 534.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 227.08 534.07 Td (American Coal Corporation Supplemental Retirement Benefit Plan \(Amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 524.07 Td (Restated as of January1, 2008\) is incorporated herein by reference to Exhibit 10.57 to the Company's ) Tj ET Q q 0 0 0 rg BT 505.64 524.07 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 514.07 Td (Report on Form 10-K for the fiscal year ended December 31, 2015, Commission File Number I-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 499.07 Td (10.52*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 499.07 Td (Amendment No. 6 to ) Tj ET Q q 0 0 0 rg BT 183.75 499.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 227.08 499.07 Td (American Coal Corporation Supplemental Retirement Benefit Plan \(Amended and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 489.07 Td (Restated as of January 1, 2008\) is incorporated herein by reference to Exhibit 10.52 to the Company's ) Tj ET Q q 0 0 0 rg BT 505.64 489.07 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 479.07 Td (Report on Form 10-K for the fiscal year ended December 31, 2016, Commission File Number I-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 464.07 Td (10.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 464.07 Td (Agreement, dated as of March 16, 2015, among ) Tj ET Q q 0 0 0 rg BT 290.37 464.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 333.70 464.07 Td (American Coal Corporation, Otter ) Tj ET Q q 0 0 0 rg BT 473.20 464.07 Td (T) Tj ET Q q 0 0 0 rg BT 478.61 464.07 Td (ail Power ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 454.07 Td (Company) Tj ET Q q 0 0 0 rg BT 135.24 454.07 Td (, Northern Municipal Power ) Tj ET Q q 0 0 0 rg BT 249.94 454.07 Td (Agency) Tj ET Q q 0 0 0 rg BT 280.39 454.07 Td (, Montana-Dakota Utilities Co., a division of MDU Resources ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 444.07 Td (Group, Inc. and Northwestern Corporation is incorporated herein by reference to Exhibit 10.2 to the Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 434.07 Td (Quarterly Report on Form 10-Q, filed by the Company on May 5, 2015, Commission File Number 1-9172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.23 434.07 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 419.07 Td (10.54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 419.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 140.33 419.07 Td (American Coal Corporation Excess Retirement Plan \(Amended and Restated Ef) Tj ET Q q 0 0 0 rg BT 459.77 419.07 Td (fective January 1, 2016\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 409.07 Td (is incorporated herein by reference to Exhibit 10.60 to the Company's ) Tj ET Q q 0 0 0 rg BT 377.62 409.07 Td (Annual Report on Form 10-K for the fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 399.07 Td (year ended December 31, 2015, Commission File Number 1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 384.07 Td (10.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 384.07 Td (Amended and Restated Credit ) Tj ET Q q 0 0 0 rg BT 219.19 384.07 Td (Agreement by and among ) Tj ET Q q 0 0 0 rg BT 325.09 384.07 Td (The North ) Tj ET Q q 0 0 0 rg BT 368.42 384.07 Td (American Coal Corporation and the Lenders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 374.07 Td (party thereto and KeyBank National ) Tj ET Q q 0 0 0 rg BT 243.90 374.07 Td (Association as Syndication ) Tj ET Q q 0 0 0 rg BT 354.17 374.07 Td (Agent, PNC Bank National ) Tj ET Q q 0 0 0 rg BT 465.55 374.07 Td (Association as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 364.07 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 158.94 364.07 Td (Agent and KeyBanc Capital Markets Inc. and PNC Capital Markets LLC as Joint Lead ) Tj ET Q q 0 0 0 rg BT 508.58 364.07 Td (Arrangers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 354.07 Td (and Joint Bookrunners, dated as of ) Tj ET Q q 0 0 0 rg BT 237.81 354.07 Td (August 1) Tj ET Q q 0 0 0 rg BT 273.83 354.07 Td (1, 2017 is incorporated herein by reference to Exhibit 10.1 to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 344.07 Td (Company's Current Report on Form 8-K, filed by the Company on ) Tj ET Q q 0 0 0 rg BT 365.44 344.07 Td (August 15, 2017, Commission File Number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 334.07 Td (1-9172.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.00 Td (\(21\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.16 317.00 Td (Subsidiaries. ) Tj ET Q q 0 0 0 rg BT 122.50 317.00 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 317.00 Td ( list of the subsidiaries of the Company is attached hereto as Exhibit21.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.33 317.00 Td (\(23\) Consents of experts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 305.00 Td (counsel.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 285.07 Td (23.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 285.07 Td (Consents of experts and counsel.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.00 Td (\(24\) Powers of ) Tj ET Q q 0 0 0 rg BT 111.38 268.00 Td (Attorney) Tj ET Q q 0 0 0 rg BT 146.28 268.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 248.07 Td (24.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 248.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 248.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 248.07 Td ( copy of a power of attorney for John S. Dalrymple is attached hereto as Exhibit24.1.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 233.07 Td (24.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 233.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 233.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 233.07 Td ( copy of a power of attorney for John P) Tj ET Q q 0 0 0 rg BT 259.47 233.07 Td (. Jumper is attached hereto as Exhibit24.2.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 218.07 Td (24.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 218.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 218.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 218.07 Td ( copy of a power of attorney for Dennis ) Tj ET Q q 0 0 0 rg BT 264.27 218.07 Td (W) Tj ET Q q 0 0 0 rg BT 272.79 218.07 Td (. LaBarre is attached hereto as Exhibit24.3.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 203.07 Td (24.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 203.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 203.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 203.07 Td ( copy of a power of attorney for ) Tj ET Q q 0 0 0 rg BT 233.44 203.07 Td (T) Tj ET Q q 0 0 0 rg BT 239.20 203.07 Td (imothy K. Light is attached hereto as Exhibit24.4.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 188.07 Td (24.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 188.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 188.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 188.07 Td ( copy of a power of attorney for Michael S. Miller is attached hereto as Exhibit24.5.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 173.07 Td (24.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.00 173.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 173.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 173.07 Td ( copy of a power of attorney for Richard de J. Osborne is attached hereto as Exhibit24.6.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 158.07 Td (24.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 158.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 158.07 Td ( copy of a power of attorney for ) Tj ET Q q 0 0 0 rg BT 233.07 158.07 Td (Alfred M. Rankin, Jr) Tj ET Q q 0 0 0 rg BT 316.12 158.07 Td (. is attached hereto as Exhibit24.7.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 143.07 Td (24.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 143.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 143.07 Td ( copy of a power of attorney for Matthew M. Rankin is attached hereto as Exhibit24.8.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 128.07 Td (24.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 128.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 128.07 Td ( copy of a power of attorney for Britton ) Tj ET Q q 0 0 0 rg BT 264.28 128.07 Td (T) Tj ET Q q 0 0 0 rg BT 269.64 128.07 Td (. ) Tj ET Q q 0 0 0 rg BT 274.46 128.07 Td (T) Tj ET Q q 0 0 0 rg BT 279.87 128.07 Td (aplin is attached hereto as Exhibit24.9.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 113.07 Td (24.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 113.07 Td (A) Tj ET Q q 0 0 0 rg BT 103.67 113.07 Td ( copy of a power of attorney for David B.H. ) Tj ET Q q 0 0 0 rg BT 281.77 113.07 Td (W) Tj ET Q q 0 0 0 rg BT 290.81 113.07 Td (illiams is attached hereto as Exhibit24.10.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (\(31\) Rule13a-14\(a\)/15d-14\(a\) Certifications.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 722.17 Td (31\(i\)\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 722.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 722.17 Td (Certification of J.C. Butler) Tj ET Q q 0 0 0 rg BT 207.52 722.17 Td (, Jr) Tj ET Q q 0 0 0 rg BT 219.19 722.17 Td (. pursuant to Rule13a-14\(a\)/15d-14\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 443.29 722.17 Td (Act is attached hereto as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 712.17 Td (Exhibit31\(i\)\(1\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 697.17 Td (31\(i\)\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 697.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 697.17 Td (Certification of Elizabeth I. Loveman pursuant to Rule13a-14\(a\)/15d-14\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 472.82 697.17 Td (Act is attached ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 687.17 Td (hereto as Exhibit31\(i\)\(2\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 672.17 Td (\(32\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 672.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 672.17 Td (Certifications pursuant to 18 U.S.C. Section1350, as adopted pursuant to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 538.15 672.17 Td (Act ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 662.17 Td (of 2002, signed and dated by J.C. Butler) Tj ET Q q 0 0 0 rg BT 261.69 662.17 Td (, Jr) Tj ET Q q 0 0 0 rg BT 273.36 662.17 Td (. and Elizabeth I. Loveman.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 647.17 Td (\(95\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.00 647.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 647.17 Td (Mine Safety Disclosure Exhibit is attached hereto as Exhibit 95.) 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ET Q q 0 0 0 rg BT 155.12 570.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 203.55 570.25 Td (with ) Tj ET Q q 0 0 0 rg BT 224.80 570.25 Td (the ) Tj ET Q q 0 0 0 rg BT 240.48 570.25 Td (standards ) Tj ET Q q 0 0 0 rg BT 281.72 570.25 Td (of ) Tj ET Q q 0 0 0 rg BT 293.52 570.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.21 570.25 Td (Public ) Tj ET Q q 0 0 0 rg BT 338.23 570.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 379.82 570.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 429.95 570.25 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 472.85 570.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 500.76 570.25 Td (\(United ) Tj ET Q q 0 0 0 rg BT 534.78 570.25 Td (States\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 558.25 Td (\(PCAOB\), ) Tj ET Q q 0 0 0 rg BT 95.94 558.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.59 558.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 159.61 558.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 193.58 558.25 Td (control ) Tj ET Q q 0 0 0 rg BT 225.34 558.25 Td (over ) Tj ET Q q 0 0 0 rg BT 246.55 558.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 284.96 558.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 325.05 558.25 Td (as ) Tj ET Q q 0 0 0 rg BT 336.82 558.25 Td (of ) Tj ET Q q 0 0 0 rg BT 348.58 558.25 Td (December ) Tj ET Q q 0 0 0 rg BT 393.10 558.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 409.04 558.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 434.97 558.25 Td (based ) Tj ET Q q 0 0 0 rg BT 461.18 558.25 Td (on ) Tj ET Q q 0 0 0 rg BT 474.61 558.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 506.36 558.25 Td (established ) Tj ET Q q 0 0 0 rg BT 554.23 558.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.25 Td (Internal ) Tj ET Q q 0 0 0 rg BT 82.88 546.25 Td (Control-Integrated ) Tj ET Q q 0 0 0 rg BT 159.08 546.25 Td (Framework ) Tj ET Q q 0 0 0 rg BT 206.97 546.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 233.76 546.25 Td (by ) Tj ET Q q 0 0 0 rg BT 245.54 546.25 Td (the ) Tj ET Q q 0 0 0 rg BT 259.54 546.25 Td (Committee ) Tj ET Q q 0 0 0 rg BT 305.77 546.25 Td (of ) Tj ET Q q 0 0 0 rg BT 315.89 546.25 Td (Sponsoring ) Tj ET Q q 0 0 0 rg BT 363.23 546.25 Td (Or) Tj ET Q q 0 0 0 rg BT 373.60 546.25 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 420.93 546.25 Td (of ) Tj ET Q q 0 0 0 rg BT 431.05 546.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.92 546.25 Td (T) Tj ET Q q 0 0 0 rg BT 450.68 546.25 Td (readway ) Tj ET Q q 0 0 0 rg BT 486.33 546.25 Td (Commission ) Tj ET Q q 0 0 0 rg BT 538.69 546.25 Td (\(2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 534.25 Td (framework\) ) Tj ET Q q 0 0 0 rg BT 99.70 534.25 Td (and ) Tj ET Q q 0 0 0 rg BT 116.64 534.25 Td (our ) Tj ET Q q 0 0 0 rg BT 132.47 534.25 Td (report ) Tj ET Q q 0 0 0 rg BT 158.84 534.25 Td (dated ) Tj ET Q q 0 0 0 rg BT 183.00 534.25 Td (March ) Tj ET Q q 0 0 0 rg BT 211.60 534.25 Td (6, ) Tj ET Q q 0 0 0 rg BT 221.60 534.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 244.10 534.25 Td (expressed ) Tj ET Q q 0 0 0 rg BT 286.03 534.25 Td (an ) Tj ET Q q 0 0 0 rg BT 297.96 534.25 Td (unqualified ) Tj ET Q q 0 0 0 rg BT 346.01 534.25 Td (opinion ) Tj ET Q q 0 0 0 rg BT 379.06 534.25 Td (thereon.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Basis ) Tj ET Q q 0 0 0 rg BT 74.73 514.25 Td (for) Tj ET Q q 0 0 0 rg BT 87.32 514.25 Td ( ) Tj ET Q q 0 0 0 rg BT 89.82 514.25 Td (Opinion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.25 Td (These ) Tj ET Q q 0 0 0 rg BT 76.76 494.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 114.61 494.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 159.70 494.25 Td (are ) Tj ET Q q 0 0 0 rg BT 174.79 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 189.89 494.25 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 247.21 494.25 Td (of ) Tj ET Q q 0 0 0 rg BT 258.42 494.25 Td (the ) Tj ET Q q 0 0 0 rg BT 273.51 494.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 320.97 494.25 Td (management. ) Tj ET Q q 0 0 0 rg BT 377.44 494.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 395.87 494.25 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 453.19 494.25 Td (is ) Tj ET Q q 0 0 0 rg BT 462.74 494.25 Td (to ) Tj ET Q q 0 0 0 rg BT 473.39 494.25 Td (express ) Tj ET Q q 0 0 0 rg BT 506.26 494.25 Td (an ) Tj ET Q q 0 0 0 rg BT 518.58 494.25 Td (opinion ) Tj ET Q q 0 0 0 rg BT 552.01 494.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.35 482.25 Td (Company) Tj ET Q q 0 0 0 rg BT 107.02 482.25 Td (s ) Tj ET Q q 0 0 0 rg BT 114.04 482.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 152.16 482.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 197.50 482.25 Td (based ) Tj ET Q q 0 0 0 rg BT 223.41 482.25 Td (on ) Tj ET Q q 0 0 0 rg BT 236.54 482.25 Td (our ) Tj ET Q q 0 0 0 rg BT 253.01 482.25 Td (audits. ) Tj ET Q q 0 0 0 rg BT 282.30 482.25 Td (W) Tj ET Q q 0 0 0 rg BT 290.94 482.25 Td (e ) Tj ET Q q 0 0 0 rg BT 298.51 482.25 Td (are ) Tj ET Q q 0 0 0 rg BT 313.86 482.25 Td (a ) Tj ET Q q 0 0 0 rg BT 321.43 482.25 Td (public ) Tj ET Q q 0 0 0 rg BT 349.56 482.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 396.57 482.25 Td (firm ) Tj ET Q q 0 0 0 rg BT 416.92 482.25 Td (registered ) Tj ET Q q 0 0 0 rg BT 459.48 482.25 Td (with ) Tj ET Q q 0 0 0 rg BT 480.39 482.25 Td (the ) Tj ET Q q 0 0 0 rg BT 495.74 482.25 Td (PCAOB ) Tj ET Q q 0 0 0 rg BT 532.22 482.25 Td (and ) Tj ET Q q 0 0 0 rg BT 549.79 482.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.25 Td (required ) Tj ET Q q 0 0 0 rg BT 86.24 470.25 Td (to ) Tj ET Q q 0 0 0 rg BT 96.94 470.25 Td (be ) Tj ET Q q 0 0 0 rg BT 109.30 470.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 161.09 470.25 Td (with ) Tj ET Q q 0 0 0 rg BT 181.79 470.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 213.03 470.25 Td (to ) Tj ET Q q 0 0 0 rg BT 223.73 470.25 Td (the ) Tj ET Q q 0 0 0 rg BT 238.87 470.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 280.68 470.25 Td (in ) Tj ET Q q 0 0 0 rg BT 291.38 470.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 339.27 470.25 Td (with ) Tj ET Q q 0 0 0 rg BT 359.97 470.25 Td (the ) Tj ET Q q 0 0 0 rg BT 375.10 470.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 395.81 470.25 Td (federal ) Tj ET Q q 0 0 0 rg BT 426.49 470.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 467.17 470.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 488.43 470.25 Td (and ) Tj ET Q q 0 0 0 rg BT 505.79 470.25 Td (the ) Tj ET Q q 0 0 0 rg BT 520.93 470.25 Td (applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.25 Td (rules ) Tj ET Q q 0 0 0 rg BT 71.94 458.25 Td (and ) Tj ET Q q 0 0 0 rg BT 88.88 458.25 Td (regulations ) Tj ET Q q 0 0 0 rg BT 135.81 458.25 Td (of ) Tj ET Q q 0 0 0 rg BT 146.64 458.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.36 458.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 203.29 458.25 Td (and ) Tj ET Q q 0 0 0 rg BT 220.23 458.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 262.15 458.25 Td (Commission ) Tj ET Q q 0 0 0 rg BT 315.22 458.25 Td (and ) Tj ET Q q 0 0 0 rg BT 332.16 458.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.88 458.25 Td (PCAOB. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 438.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.61 438.25 Td (conducted ) Tj ET Q q 0 0 0 rg BT 109.24 438.25 Td (our ) Tj ET Q q 0 0 0 rg BT 125.10 438.25 Td (audits ) Tj ET Q q 0 0 0 rg BT 151.52 438.25 Td (in ) Tj ET Q q 0 0 0 rg BT 161.83 438.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 209.33 438.25 Td (with ) Tj ET Q q 0 0 0 rg BT 229.64 438.25 Td (the ) Tj ET Q q 0 0 0 rg BT 244.39 438.25 Td (standards ) Tj ET Q q 0 0 0 rg BT 284.69 438.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.55 438.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.30 438.25 Td (PCAOB. ) Tj ET Q q 0 0 0 rg BT 348.50 438.25 Td (Those ) Tj ET Q q 0 0 0 rg BT 375.47 438.25 Td (standards ) Tj ET Q q 0 0 0 rg BT 415.77 438.25 Td (require ) Tj ET Q q 0 0 0 rg BT 446.62 438.25 Td (that ) Tj ET Q q 0 0 0 rg BT 464.15 438.25 Td (we ) Tj ET Q q 0 0 0 rg BT 478.34 438.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 498.09 438.25 Td (and ) Tj ET Q q 0 0 0 rg BT 515.06 438.25 Td (perform ) Tj ET Q q 0 0 0 rg BT 549.80 438.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (audit ) Tj ET Q q 0 0 0 rg BT 71.99 426.25 Td (to ) Tj ET Q q 0 0 0 rg BT 81.76 426.25 Td (obtain ) Tj ET Q q 0 0 0 rg BT 108.74 426.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 153.49 426.25 Td (assurance ) Tj ET Q q 0 0 0 rg BT 194.35 426.25 Td (about ) Tj ET Q q 0 0 0 rg BT 218.55 426.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 252.75 426.25 Td (the ) Tj ET Q q 0 0 0 rg BT 266.96 426.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 303.93 426.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 348.13 426.25 Td (are ) Tj ET Q q 0 0 0 rg BT 362.33 426.25 Td (free ) Tj ET Q q 0 0 0 rg BT 379.86 426.25 Td (of ) Tj ET Q q 0 0 0 rg BT 390.18 426.25 Td (material ) Tj ET Q q 0 0 0 rg BT 424.93 426.25 Td (misstatement, ) Tj ET Q q 0 0 0 rg BT 482.19 426.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 516.39 426.25 Td (due ) Tj ET Q q 0 0 0 rg BT 532.82 426.25 Td (to ) Tj ET Q q 0 0 0 rg BT 542.59 426.25 Td (error ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (or ) Tj ET Q q 0 0 0 rg BT 59.87 414.25 Td (fraud. ) Tj ET Q q 0 0 0 rg BT 85.01 414.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 102.10 414.25 Td (audits ) Tj ET Q q 0 0 0 rg BT 127.53 414.25 Td (included ) Tj ET Q q 0 0 0 rg BT 163.50 414.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 210.02 414.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 255.43 414.25 Td (to ) Tj ET Q q 0 0 0 rg BT 264.75 414.25 Td (assess ) Tj ET Q q 0 0 0 rg BT 290.73 414.25 Td (the ) Tj ET Q q 0 0 0 rg BT 304.49 414.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 324.92 414.25 Td (of ) Tj ET Q q 0 0 0 rg BT 334.79 414.25 Td (material ) Tj ET Q q 0 0 0 rg BT 369.09 414.25 Td (misstatement ) Tj ET Q q 0 0 0 rg BT 423.39 414.25 Td (of ) Tj ET Q q 0 0 0 rg BT 433.26 414.25 Td (the ) Tj ET Q q 0 0 0 rg BT 447.02 414.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 483.54 414.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 529.79 414.25 Td (whether ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (due ) Tj ET Q q 0 0 0 rg BT 66.66 402.25 Td (to ) Tj ET Q q 0 0 0 rg BT 76.65 402.25 Td (error ) Tj ET Q q 0 0 0 rg BT 98.30 402.25 Td (or ) Tj ET Q q 0 0 0 rg BT 108.85 402.25 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 134.67 402.25 Td (and ) Tj ET Q q 0 0 0 rg BT 151.32 402.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 198.53 402.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 244.61 402.25 Td (that ) Tj ET Q q 0 0 0 rg BT 261.82 402.25 Td (respond ) Tj ET Q q 0 0 0 rg BT 295.70 402.25 Td (to ) Tj ET Q q 0 0 0 rg BT 305.70 402.25 Td (those ) Tj ET Q q 0 0 0 rg BT 329.03 402.25 Td (risks. ) Tj ET Q q 0 0 0 rg BT 352.64 402.25 Td (Such ) Tj ET Q q 0 0 0 rg BT 374.85 402.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 420.94 402.25 Td (included ) Tj ET Q q 0 0 0 rg BT 457.59 402.25 Td (examining, ) Tj ET Q q 0 0 0 rg BT 504.52 402.25 Td (on ) Tj ET Q q 0 0 0 rg BT 516.74 402.25 Td (a ) Tj ET Q q 0 0 0 rg BT 523.40 402.25 Td (test ) Tj ET Q q 0 0 0 rg BT 539.50 402.25 Td (basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (evidence ) Tj ET Q q 0 0 0 rg BT 88.39 390.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 129.57 390.25 Td (the ) Tj ET Q q 0 0 0 rg BT 144.65 390.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 181.39 390.25 Td (and ) Tj ET Q q 0 0 0 rg BT 198.69 390.25 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 245.99 390.25 Td (in ) Tj ET Q q 0 0 0 rg BT 256.63 390.25 Td (the ) Tj ET Q q 0 0 0 rg BT 271.71 390.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 309.55 390.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 357.12 390.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 375.53 390.25 Td (audits ) Tj ET Q q 0 0 0 rg BT 402.28 390.25 Td (also ) Tj ET Q q 0 0 0 rg BT 421.25 390.25 Td (included ) Tj ET Q q 0 0 0 rg BT 458.54 390.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 503.05 390.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 390.25 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.25 Td (principles ) Tj ET Q q 0 0 0 rg BT 92.68 378.25 Td (used ) Tj ET Q q 0 0 0 rg BT 114.26 378.25 Td (and ) Tj ET Q q 0 0 0 rg BT 131.95 378.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 177.41 378.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 217.87 378.25 Td (made ) Tj ET Q q 0 0 0 rg BT 242.77 378.25 Td (by ) Tj ET Q q 0 0 0 rg BT 256.02 378.25 Td (management, ) Tj ET Q q 0 0 0 rg BT 312.86 378.25 Td (as ) Tj ET Q q 0 0 0 rg BT 324.44 378.25 Td (well ) Tj ET Q q 0 0 0 rg BT 344.90 378.25 Td (as ) Tj ET Q q 0 0 0 rg BT 356.48 378.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 401.38 378.25 Td (the ) Tj ET Q q 0 0 0 rg BT 416.85 378.25 Td (overall ) Tj ET Q q 0 0 0 rg BT 447.86 378.25 Td (presentation ) Tj ET Q q 0 0 0 rg BT 499.98 378.25 Td (of ) Tj ET Q q 0 0 0 rg BT 511.56 378.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.02 378.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 97.03 366.25 Td (W) Tj ET Q q 0 0 0 rg BT 105.67 366.25 Td (e ) Tj ET Q q 0 0 0 rg BT 112.61 366.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 143.98 366.25 Td (that ) Tj ET Q q 0 0 0 rg BT 161.47 366.25 Td (our ) Tj ET Q q 0 0 0 rg BT 177.30 366.25 Td (audits ) Tj ET Q q 0 0 0 rg BT 203.69 366.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 236.74 366.25 Td (a ) Tj ET Q q 0 0 0 rg BT 243.68 366.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 288.93 366.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 311.43 366.25 Td (for ) Tj ET Q q 0 0 0 rg BT 325.59 366.25 Td (our ) Tj ET Q q 0 0 0 rg BT 341.42 366.25 Td (opinion. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 337.42 Td (/s/ Ernst & ) Tj ET Q q 0 0 0 rg BT 98.46 337.42 Td (Y) Tj ET Q q 0 0 0 rg BT 104.68 337.42 Td (oung LLP) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 309.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 309.25 Td (e ) Tj ET Q q 0 0 0 rg BT 65.58 309.25 Td (have ) Tj ET Q q 0 0 0 rg BT 86.95 309.25 Td (served ) Tj ET Q q 0 0 0 rg BT 115.55 309.25 Td (as ) Tj ET Q q 0 0 0 rg BT 126.38 309.25 Td (the ) Tj ET Q q 0 0 0 rg BT 141.10 309.25 Td (Company) Tj ET Q q 0 0 0 rg BT 182.76 309.25 Td (s ) Tj ET Q q 0 0 0 rg BT 189.16 309.25 Td (auditor ) Tj ET Q q 0 0 0 rg BT 219.98 309.25 Td (since ) Tj ET Q q 0 0 0 rg BT 243.03 309.25 Td (2002. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 297.25 Td (Cleveland, ) Tj ET Q q 0 0 0 rg BT 95.54 297.25 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 285.25 Td (March6, ) Tj ET Q q 0 0 0 rg BT 88.60 285.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.60 285.25 Td ( ) Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 31.60 Td (F-4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.05 742.25 Td (Report of Independent Register) Tj ET Q q 0 0 0 rg BT 316.13 742.25 Td (ed Public ) Tj ET Q q 0 0 0 rg BT 357.81 742.25 Td (Accounting Firm) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 706.25 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 706.25 Td (o the Board of Directors and Stockholders of NACCO Industries, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (Opinion on Internal Contr) Tj ET Q q 0 0 0 rg BT 163.45 688.25 Td (ol over) Tj ET Q q 0 0 0 rg BT 192.43 688.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 670.25 Td (e have audited NACCO Industries, Inc. and Subsidiaries) Tj ET Q q 0 0 0 rg BT 287.01 670.25 Td ( internal control over financial reporting as of December 31, 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 505.82 658.25 Td (ganizations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (of the ) Tj ET Q q 0 0 0 rg BT 75.37 646.25 Td (T) Tj ET Q q 0 0 0 rg BT 81.12 646.25 Td (readway Commission \(2013 framework\) \(the COSO criteria\). In our opinion, NACCO Industries, Inc. and Subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (\(the Company\) maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 265.02 634.25 Td (fective internal control over financial reporting as of December 31, 2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (based on the COSO criteria.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 604.25 Td (e also have audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 367.44 604.25 Td (Accounting Oversight Board \(United States\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (\(PCAOB\), the 2018 consolidated financial statements of the Company and our report dated March 6, 2019 expressed an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (unqualified opinion thereon.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Basis for) Tj ET Q q 0 0 0 rg BT 87.32 562.25 Td ( Opinion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.71 544.25 Td (s management is responsible for maintaining ef) Tj ET Q q 0 0 0 rg BT 298.93 544.25 Td (fective internal control over financial reporting and for its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (assessment of the ef) Tj ET Q q 0 0 0 rg BT 130.07 532.25 Td (fectiveness of internal control over financial reporting included in the accompanying Management) Tj ET Q q 0 0 0 rg BT 526.32 532.25 Td (s report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (on internal control over financial reporting in Item 9A. Our responsibility is to express an opinion on the Company) Tj ET Q q 0 0 0 rg BT 512.41 520.25 Td (s internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (control over financial reporting based on our audit. ) Tj ET Q q 0 0 0 rg BT 256.14 508.25 Td (W) Tj ET Q q 0 0 0 rg BT 264.78 508.25 Td (e are a public accounting firm registered with the PCAOB and are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (rules and regulations of the Securities and Exchange Commission and the PCAOB.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 466.25 Td (e conducted our audit in accordance with the standards of the PCAOB. ) Tj ET Q q 0 0 0 rg BT 344.21 466.25 Td (Those standards require that we plan and perform the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (audit to obtain reasonable assurance about whether ef) Tj ET Q q 0 0 0 rg BT 263.90 454.25 Td (fective internal control over financial reporting was maintained in all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (material respects. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (weakness exists, testing and evaluating the design and operating ef) Tj ET Q q 0 0 0 rg BT 316.97 412.25 Td (fectiveness of internal control based on the assessed risk, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (performing such other procedures as we considered necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 386.36 400.25 Td (W) Tj ET Q q 0 0 0 rg BT 395.00 400.25 Td (e believe that our audit provides a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (reasonable basis for our opinion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (Definition and Limitations of Internal Contr) Tj ET Q q 0 0 0 rg BT 239.55 370.25 Td (ol Over) Tj ET Q q 0 0 0 rg BT 271.30 370.25 Td ( Financial Reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.25 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 352.25 Td ( company) Tj ET Q q 0 0 0 rg BT 98.60 352.25 Td (s internal control over financial reporting is a process designed to provide reasonable assurance regarding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td (accepted accounting principles. ) Tj ET Q q 0 0 0 rg BT 177.72 328.25 Td (A) Tj ET Q q 0 0 0 rg BT 184.39 328.25 Td ( company) Tj ET Q q 0 0 0 rg BT 226.33 328.25 Td (s internal control over financial reporting includes those policies and procedures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (that \(1\) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (dispositions of the assets of the company; \(2\) provide reasonable assurance that transactions are recorded as necessary to permit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (expenditures of the company are being made only in accordance with authorizations of management and directors of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (company; and \(3\) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (disposition of the company) Tj ET Q q 0 0 0 rg BT 161.38 256.25 Td (s assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 306.97 256.25 Td (fect on the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. ) Tj ET Q q 0 0 0 rg BT 518.20 238.25 Td (Also, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (projections of any evaluation of ef) Tj ET Q q 0 0 0 rg BT 187.27 226.25 Td (fectiveness to future periods are subject to the risk that controls may become inadequate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 187.42 Td (/s/ Ernst & ) Tj ET Q q 0 0 0 rg BT 98.46 187.42 Td (Y) Tj ET Q q 0 0 0 rg BT 104.68 187.42 Td (oung LLP) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 159.25 Td (Cleveland, ) Tj ET Q q 0 0 0 rg BT 95.54 159.25 Td (Ohio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 147.25 Td (March6, ) Tj ET Q q 0 0 0 rg BT 88.60 147.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.60 147.25 Td ( ) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 33.60 Td (F-5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.55 740.25 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 322.63 740.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.15 728.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 248.97 728.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 283.52 728.25 Td (A) Tj ET Q q 0 0 0 rg BT 290.00 728.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 354.92 728.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 391.68 728.25 Td (TIONS) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 669.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 669.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 669.75 70.00 -15.00 re f /GS0 gs 0.8 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488.5 92.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 90.75 m 488.5 90.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 92.75 m 562.5 92.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 90.75 m 562.5 90.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 700.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 448.95 700.00 Td (Y) Tj ET Q q 0 0 0 rg BT 454.33 700.00 Td (ear Ended December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 687.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 686.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 687.00 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 674.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.35 674.00 Td (\(In thousands, except per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 660.32 Td (Revenue - consolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 659.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 659.43 Td (1) Tj ET Q q 0 0 0 rg BT 457.15 659.43 Td (17,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 660.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 660.32 Td (92,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.32 Td (Revenue - royalty and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 644.43 Td (17,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 644.42 Td (12,770) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 629.43 Td (T) Tj ET Q q 0 0 0 rg BT 59.21 629.43 Td (otal r) Tj ET Q q 0 0 0 rg BT 81.71 629.43 Td (evenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 629.43 Td (135,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 629.42 Td (104,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 615.32 Td (Cost of sales - consolidated mines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 614.43 Td (102,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 615.32 Td (85,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 600.32 Td (Cost of sales - royalty and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 600.48 Td (2,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 600.32 Td (2,202) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 584.43 Td (T) Tj ET Q q 0 0 0 rg BT 59.21 584.43 Td (otal cost of sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 584.43 Td (105,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 584.42 Td (87,859) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 569.43 Td (Gr) Tj ET Q q 0 0 0 rg BT 65.13 569.43 Td (oss pr) Tj ET Q q 0 0 0 rg BT 90.23 569.43 Td (ofit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 569.43 Td (29,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 569.42 Td (16,919) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 554.43 Td (Earnings of unconsolidated operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 554.43 Td (64,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 554.42 Td (61,361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 539.43 Td (Operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 539.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 539.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 524.42 Td (Selling, general and administrative expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 524.43 Td (49,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 524.42 Td (47,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 509.42 Td (Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 198.47 509.42 Td (ge) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 509.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 509.42 Td (982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 494.42 Td (Amortization of intangible assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 494.43 Td (3,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 494.42 Td (2,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 479.42 Td (Gain on sale of assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 479.48 Td (\(892) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 479.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 479.47 Td (\(5,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 479.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 464.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 464.43 Td (51,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 464.42 Td (45,466) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 449.43 Td (Operating pr) Tj ET Q q 0 0 0 rg BT 109.30 449.43 Td (ofit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 449.43 Td (43,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 449.42 Td (32,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.42 Td (Other expense \(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 434.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 434.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 419.42 Td (Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 419.43 Td (1,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 419.42 Td (3,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 404.42 Td (Incomefrom other unconsolidated af) Tj ET Q q 0 0 0 rg BT 213.19 404.42 Td (filiates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 404.48 Td (\(1,276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 404.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 404.47 Td (\(1,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 404.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 389.42 Td (Closed mine obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 389.43 Td (1,297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 389.42 Td (1,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 374.42 Td (Other) Tj ET Q q 0 0 0 rg BT 87.37 374.42 Td (, net, including interest income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 374.48 Td (\(558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 374.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 374.47 Td (\(72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 374.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 359.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 359.43 Td (1,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 359.42 Td (3,712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 344.43 Td (Income fr) Tj ET Q q 0 0 0 rg BT 94.84 344.43 Td (om continuing operations befor) Tj ET Q q 0 0 0 rg BT 228.83 344.43 Td (e income tax pr) Tj ET Q q 0 0 0 rg BT 294.46 344.43 Td (ovision) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 344.43 Td (42,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 344.42 Td (29,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 329.42 Td (Income tax provision from continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 329.43 Td (7,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 329.42 Td (639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 314.43 Td (Income fr) Tj ET Q q 0 0 0 rg BT 94.84 314.43 Td (om continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 314.43 Td (34,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 314.42 Td (28,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.42 Td (Discontinued operations, net of tax expense of $2,162 in 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 299.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 299.42 Td (1,874) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 285.43 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 285.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 285.43 Td (34,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 285.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 285.32 Td (30,337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 257.43 Td (Basic earnings per) Tj ET Q q 0 0 0 rg BT 131.80 257.43 Td ( shar) Tj ET Q q 0 0 0 rg BT 153.01 257.43 Td (e:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 242.43 Td (Continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 242.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 242.43 Td (5.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 242.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 242.42 Td (4.17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 227.43 Td (Discontinued operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 227.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 227.42 Td (0.27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 212.43 Td (Basic earnings per) Tj ET Q q 0 0 0 rg BT 131.80 212.43 Td ( shar) Tj ET Q q 0 0 0 rg BT 153.01 212.43 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 212.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 212.43 Td (5.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 212.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 212.42 Td (4.44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 184.43 Td (Diluted earnings per) Tj ET Q q 0 0 0 rg BT 140.69 184.43 Td ( shar) Tj ET Q q 0 0 0 rg BT 161.90 184.43 Td (e:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 169.43 Td (Continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 169.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 169.43 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 169.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 169.42 Td (4.14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 154.43 Td (Discontinued operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 154.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 154.42 Td (0.27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 139.43 Td (Diluted earnings per) Tj ET Q q 0 0 0 rg BT 140.69 139.43 Td ( shar) Tj ET Q q 0 0 0 rg BT 161.90 139.43 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 139.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 139.43 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 139.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 139.42 Td (4.41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 111.43 Td (Basic weighted average shar) Tj ET Q q 0 0 0 rg BT 173.73 111.43 Td (es outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 111.43 Td (6,924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 111.42 Td (6,830) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 96.43 Td (Diluted weighted average shar) Tj ET Q q 0 0 0 rg BT 182.53 96.43 Td (es outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 96.43 Td (6,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 96.42 Td (6,873) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.25 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 33.60 Td (F-6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.55 740.25 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 322.63 740.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.40 728.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 197.22 728.25 Td (TED ST) Tj ET Q q 0 0 0 rg BT 231.78 728.25 Td (A) Tj ET Q q 0 0 0 rg BT 238.25 728.25 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 303.17 728.25 Td ( COMPREHENSIVE INCOME \(LOSS\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 669.75 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 669.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 669.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 669.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 639.75 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 639.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 639.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 609.75 369.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 609.75 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 609.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 609.75 70.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 577.75 369.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 577.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 577.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 577.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.75 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 525.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 525.75 4.00 -15.00 re f /GS0 gs 0.8 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BT 52.50 700.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.45 700.00 Td (Y) Tj ET Q q 0 0 0 rg BT 454.83 700.00 Td (ear Ended December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 687.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.50 686.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.50 687.00 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 674.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.50 674.00 Td (\(In thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 659.43 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 659.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 659.43 Td (34,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 659.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 659.42 Td (30,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 644.42 Td (Other comprehensive income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 644.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 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52.50 515.43 Td (T) Tj ET Q q 0 0 0 rg BT 58.71 515.43 Td (otal other) Tj ET Q q 0 0 0 rg BT 99.54 515.43 Td ( compr) Tj ET Q q 0 0 0 rg BT 129.63 515.43 Td (ehensive income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 515.43 Td (188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 515.42 Td (3,064) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 500.43 Td (Compr) Tj ET Q q 0 0 0 rg BT 82.87 500.43 Td (ehensive income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 500.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 500.43 Td (34,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 500.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 500.42 Td (33,401) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 475.25 Td (See notes to consolidated financial statements.) 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682.01 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 669.15 Td (Curr) Tj ET Q q 0 0 0 rg BT 66.41 669.15 Td (ent assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 669.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 669.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 656.01 Td (Cash and cash equivalents) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 656.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 656.15 Td (85,257) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 656.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 656.01 Td (101,600) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 643.01 Td (T) Tj ET Q q 0 0 0 rg BT 64.34 643.01 Td (rade accounts receivable, net of allowances of $1,523 in 2018 and 2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 643.15 Td (20,817) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 643.01 Td (14,61) Tj ET Q q 0 0 0 rg BT 558.50 643.01 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 630.01 Td (Accounts receivable from af) Tj ET Q q 0 0 0 rg BT 161.04 630.01 Td (filiates) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 630.15 Td (7,999) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 630.01 Td (19,919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 617.01 Td (Inventories) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 617.15 Td (31,209) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 617.01 Td (30,015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 604.01 Td (Assets held for sale) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 604.15 Td (4,330) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 604.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 591.01 Td (Prepaid expenses and other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 591.15 Td (14,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 591.01 Td (10,843) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.00 578.15 Td (T) Tj ET Q q 0 0 0 rg BT 76.59 578.15 Td (otal curr) Tj ET Q q 0 0 0 rg BT 109.83 578.15 Td (ent assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 578.15 Td (164,174) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 578.01 Td (176,988) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 565.15 Td (Pr) Tj ET Q q 0 0 0 rg BT 56.41 565.15 Td (operty) Tj ET Q q 0 0 0 rg BT 81.07 565.15 Td (, plant and equipment, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 565.15 Td (124,554) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 565.01 Td (120,068) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 552.15 Td (Intangibles, net) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 552.15 Td (40,516) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 552.01 Td (43,554) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 539.15 Td (Deferr) Tj ET Q q 0 0 0 rg BT 72.39 539.15 Td (ed income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.00 539.15 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 539.01 Td (5,962) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 526.15 Td (Investment in unconsolidated subsidiaries) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 526.15 Td (20,091) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 526.01 Td (16,335) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 513.15 Td (Deferr) Tj ET Q q 0 0 0 rg BT 72.39 513.15 Td (ed costs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 513.15 Td (3,244) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 513.01 Td (3,582) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 500.15 Td (Other) Tj ET Q q 0 0 0 rg BT 69.91 500.15 Td ( non-curr) Tj ET Q q 0 0 0 rg BT 106.50 500.15 Td (ent assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 500.15 Td (24,412) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 500.01 Td (23,063) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.00 487.15 Td (T) Tj ET Q q 0 0 0 rg BT 76.59 487.15 Td (otal assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 487.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 487.15 Td (376,991) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 487.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 487.01 Td (389,552) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 474.15 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 104.53 474.15 Td (AND EQUITY) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 474.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 474.01 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 461.15 Td (Curr) Tj ET Q q 0 0 0 rg BT 66.41 461.15 Td (ent liabilities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 461.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 461.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 448.01 Td (Accounts payable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 448.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 448.15 Td (7,746) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 448.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 448.01 Td (7,575) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 435.01 Td (Accounts payable to af) Tj ET Q q 0 0 0 rg BT 141.56 435.01 Td (filiates) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 435.15 Td (1,653) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 435.01 Td (1,925) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 422.01 Td (Revolving credit agreements) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 422.15 Td (4,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 422.01 Td (15,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 409.01 Td (Current maturities of long-term debt) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.50 409.15 Td (654) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 409.01 Td (1,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 396.01 Td (Asset retirement obligations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 396.15 Td (1,826) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 396.01 Td (3,092) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 383.01 Td (Accrued payroll) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 383.15 Td (19,853) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 383.01 Td (17,204) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 370.01 Td (Other current liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 370.15 Td (6,516) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 370.01 Td (8,055) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.00 357.15 Td (T) Tj ET Q q 0 0 0 rg BT 76.59 357.15 Td (otal curr) Tj ET Q q 0 0 0 rg BT 109.83 357.15 Td (ent liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 357.15 Td (42,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 357.01 Td (53,976) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 344.15 Td (Long-term debt) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 344.15 Td (6,367) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 344.01 Td (42,021) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 331.15 Td (Asset r) Tj ET Q q 0 0 0 rg BT 73.66 331.15 Td (etir) Tj ET Q q 0 0 0 rg BT 86.98 331.15 Td (ement obligations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 331.15 Td (35,877) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 331.01 Td (37,005) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 317.20 Td (Pension and other) Tj ET Q q 0 0 0 rg BT 116.43 317.20 Td ( postr) Tj ET Q q 0 0 0 rg BT 138.51 317.20 Td (etir) Tj ET Q q 0 0 0 rg BT 151.84 317.20 Td (ement obligations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 317.20 Td (10,429) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 317.21 Td (1) Tj ET Q q 0 0 0 rg BT 542.75 317.21 Td (1,827) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 304.15 Td (Deferr) Tj ET Q q 0 0 0 rg BT 72.39 304.15 Td (ed income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 304.15 Td (2,846) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.00 304.01 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 291.15 Td (Deferr) Tj ET Q q 0 0 0 rg BT 72.39 291.15 Td (ed compensation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 291.15 Td (12,939) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 291.01 Td (12,939) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 278.15 Td (Other) Tj ET Q q 0 0 0 rg BT 69.91 278.15 Td ( long-term liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.25 278.15 Td (15,581) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 278.01 Td (12,336) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 71.00 265.15 Td (T) Tj ET Q q 0 0 0 rg BT 76.18 265.15 Td (otal liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 265.15 Td (126,287) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 265.01 Td (170,104) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 252.15 Td (Stockholders) Tj ET Q q 0 0 0 rg BT 99.67 252.15 Td ( equity) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 252.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 239.01 Td (Common stock:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 239.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 239.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 226.01 Td (Class) Tj ET Q q 0 0 0 rg BT 80.50 226.01 Td (A, par value $1 per share, 5,352,590 shares outstanding \(2017 - 5,282,106 shares outstanding\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 226.15 Td (5,352) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 226.01 Td (5,282) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 213.01 Td (ClassB, par value $1 per share, convertible into Class) Tj ET Q q 0 0 0 rg BT 255.71 213.01 Td (A) Tj ET Q q 0 0 0 rg BT 261.71 213.01 Td ( on a one-for) Tj ET Q q 0 0 0 rg BT 307.60 213.01 Td (-one basis, 1,568,810 shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 204.01 Td (outstanding \(2017 - 1,570,146 shares outstanding\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 204.20 Td (1,569) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 204.21 Td (1,570) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 191.01 Td (Capital in excess of par value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.75 191.15 Td (7,042) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 191.01 Td (4,447) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 178.01 Td (Retained earnings) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 178.15 Td (250,352) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 178.01 Td (216,490) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 165.01 Td (Accumulated other comprehensive loss) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.25 165.15 Td (\(13,61) Tj ET Q q 0 0 0 rg BT 494.50 165.15 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 499.00 165.15 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.75 165.01 Td (\(8,341) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.00 165.01 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 83.00 152.15 Td (T) Tj ET Q q 0 0 0 rg BT 88.18 152.15 Td (otal stockholders) Tj ET Q q 0 0 0 rg BT 155.76 152.15 Td ( equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 152.15 Td (250,704) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 152.01 Td (219,448) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 139.15 Td (T) Tj ET Q q 0 0 0 rg BT 52.18 139.15 Td (otal liabilities and equity) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 139.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.75 139.15 Td (376,991) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 139.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 139.01 Td (389,552) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 114.25 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.05 33.60 Td (F-8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 216.85 750.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 319.31 750.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.10 738.60 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 259.96 738.60 Td (TED ST) Tj ET Q q 0 0 0 rg BT 287.60 738.60 Td (A) Tj ET Q q 0 0 0 rg BT 292.78 738.60 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 344.72 738.60 Td ( CASH FLOWS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.84 738.60 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 693.10 398.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 693.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 693.10 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 693.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 668.10 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 668.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 668.10 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 668.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 640.10 398.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 640.10 60.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 640.10 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 640.10 60.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 622.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 622.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 622.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 622.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 596.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 596.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 596.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 596.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 569.10 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 569.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 569.10 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 569.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 542.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 542.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 542.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 542.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 516.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 516.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 516.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 516.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 490.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 490.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 490.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 490.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 464.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 464.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 464.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 464.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 438.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 438.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 438.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 438.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 412.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 412.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 412.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 412.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 386.10 398.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 386.10 60.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 386.10 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 386.10 60.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 370.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 370.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 370.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 370.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 344.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 344.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 344.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 344.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 318.10 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 318.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 318.10 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 318.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 290.10 398.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 290.10 60.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 290.10 4.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 290.10 60.00 -4.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 274.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 274.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 274.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 274.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 248.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 248.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 248.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 248.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 222.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 222.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 222.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 222.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 196.10 398.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 196.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 196.10 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 196.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 168.10 398.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 168.10 60.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 168.10 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 168.10 60.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 153.10 398.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 153.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 153.10 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 153.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 137.10 398.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 137.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 137.10 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 137.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 112.10 398.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 112.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 112.10 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 112.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 86.10 398.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.50 86.10 60.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 86.10 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 86.10 60.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 716.1 m 502.5 716.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 716.1 m 506.5 716.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 716.1 m 566.5 716.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 704.1 m 502.5 704.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 704.1 m 566.5 704.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 654.1 m 502.5 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 654.1 m 566.5 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 654.1 m 502.5 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 425.1 m 502.5 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 425.1 m 566.5 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 425.1 m 502.5 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 399.1 m 502.5 399.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 399.1 m 566.5 399.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 399.1 m 502.5 399.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 399.1 m 566.5 399.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 331.1 m 502.5 331.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 331.1 m 566.5 331.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 331.1 m 502.5 331.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 331.1 m 566.5 331.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 304.1 m 502.5 304.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 304.1 m 502.5 304.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 304.1 m 566.5 304.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 196.10000000000002 m 502.5 196.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 196.10000000000002 m 566.5 196.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 196.10000000000002 m 502.5 196.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 196.10000000000002 m 566.5 196.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 168.10000000000002 m 502.5 168.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 168.10000000000002 m 566.5 168.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 168.10000000000002 m 502.5 168.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 168.10000000000002 m 566.5 168.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 99.10000000000002 m 502.5 99.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 99.10000000000002 m 566.5 99.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 86.10000000000002 m 502.5 86.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 86.10000000000002 m 566.5 86.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 75.10000000000002 m 502.5 75.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442.5 73.10000000000002 m 502.5 73.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 75.10000000000002 m 566.5 75.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 73.10000000000002 m 566.5 73.10000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 720.05 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.95 720.05 Td (Y) Tj ET Q q 0 0 0 rg BT 468.33 720.05 Td (ear Ended December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 47.00 708.05 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.00 708.18 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.00 708.05 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 47.00 696.05 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.00 696.05 Td (\(In thousands\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 684.50 Td (Operating ) Tj ET Q q 0 0 0 rg BT 88.50 684.50 Td (Activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 445.00 684.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 684.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 672.36 Td (Net income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 672.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.90 672.50 Td (34,785) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 672.36 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 672.36 Td (30,337) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 658.56 Td (Income from discontinued operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 658.55 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 658.56 Td (1,874) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 644.56 Td (Income from continuing operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.90 644.55 Td (34,785) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 644.56 Td (28,463) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 626.56 Td (Adjustments to reconcile income from continuing operationsto net cash provided by operating activities:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 626.55 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 626.56 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 613.36 Td (Depreciation, depletion and amortization) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.90 613.50 Td (14,683) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 613.36 Td (12,767) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 600.36 Td (Amortization of deferred financing fees) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.15 600.50 Td (334) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.15 600.36 Td (471) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 587.36 Td (Deferred income taxes) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.40 587.50 Td (9,281) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 587.36 Td (4,089) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 573.56 Td (Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 191.13 573.56 Td (ge) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 573.55 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.15 573.56 Td (982) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 559.56 Td (Stock-based compensation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.40 559.55 Td (3,958) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 559.56 Td (4,520) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 546.36 Td (Gain on sale of assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.15 546.50 Td (\(892) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 546.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 546.36 Td (\(5,130) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 546.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 533.36 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.40 533.50 Td (\(7,946) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 533.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 533.36 Td (1) Tj ET Q q 0 0 0 rg BT 542.40 533.36 Td (1,303) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 520.36 Td (W) Tj ET Q q 0 0 0 rg BT 67.13 520.36 Td (orking capital changes:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 520.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 520.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 507.36 Td (Af) Tj ET Q q 0 0 0 rg BT 80.33 507.36 Td (filiates receivable/payable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.40 507.50 Td (6,771) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.15 507.36 Td (516) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 494.36 Td (Accounts receivable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.40 494.50 Td (\(3,008) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 494.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 494.36 Td (\(9,31) Tj ET Q q 0 0 0 rg BT 558.15 494.36 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 494.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 481.36 Td (Inventories) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.40 481.50 Td (\(1,193) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 481.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 481.36 Td (\(1,129) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 481.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 468.36 Td (Other current assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.15 468.50 Td (\(508) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 468.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.15 468.36 Td (\(982) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 468.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 455.36 Td (Accounts payable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 455.50 Td (60) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 455.36 Td (1,049) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 442.36 Td (Income taxes receivable/payable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.40 442.50 Td (\(2,478) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 442.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 442.36 Td (1,063) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 71.00 429.36 Td (Other current liabilities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.15 429.50 Td (775) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.15 429.36 Td (334) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 416.36 Td (Net cash provided by operating activities of continuing operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.90 416.50 Td (54,622) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 416.36 Td (49,005) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 403.36 Td (Net cash used for operating activities of discontinued operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 403.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 403.36 Td (\(7,700) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 403.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 390.50 Td (Net cash pr) Tj ET Q q 0 0 0 rg BT 90.91 390.50 Td (ovided by operating activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.90 390.50 Td (54,622) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 390.36 Td (41,305) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 373.50 Td (Investing ) Tj ET Q q 0 0 0 rg BT 84.51 373.50 Td (Activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 373.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 373.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 361.36 Td (Expenditures for property) Tj ET Q q 0 0 0 rg BT 151.68 361.36 Td (, plant and equipment) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 361.50 Td (\(20,930) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 361.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.90 361.36 Td (\(15,704) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 361.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 348.36 Td (Proceeds from the sale of assets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.40 348.50 Td (1,454) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 348.36 Td (3,956) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 335.36 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.40 335.50 Td (1,089) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 335.36 Td (1,088) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 322.36 Td (Net cash used for investing activities of continuing operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 322.50 Td (\(18,387) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 322.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.90 322.36 Td (\(10,660) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 322.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 308.56 Td (Net cash used for investing activities of discontinued operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 308.55 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 308.56 Td (\(4,345) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 308.56 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 294.55 Td (Net cash used for) Tj ET Q q 0 0 0 rg BT 113.16 294.55 Td ( investing activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 294.55 Td (\(18,387) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 294.55 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.90 294.56 Td (\(15,005) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 294.56 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 277.50 Td (Financing ) Tj ET Q q 0 0 0 rg BT 87.51 277.50 Td (Activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 277.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 277.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 265.36 Td (Net reductions to revolving credit agreement) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 265.50 Td (\(47,125) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 265.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.90 265.36 Td (\(30,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 265.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 252.36 Td (Additions \(reductions\) to long-term debt) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.15 252.50 Td (396) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 252.36 Td (\(6,047) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 252.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 239.36 Td (Cash dividends paid) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.40 239.50 Td (\(4,578) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 239.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 239.36 Td (\(6,682) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 239.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 226.36 Td (Cash dividends received from Hamilton Beach Brands Holding Co. \(See Note 3\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 226.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 226.36 Td (38,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 213.36 Td (Purchase of treasury shares) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 475.40 213.50 Td (\(1,294) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 213.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.65 213.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 200.36 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 200.50 Td (23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 200.36 Td (\(1,324) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 200.36 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 186.56 Td (Net cash used for financing activities of continuing operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 186.55 Td (\(52,578) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 186.55 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 186.56 Td (\(6,053) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 186.56 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 172.56 Td (Net cash provided by financing activities of discontinued operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 172.55 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 172.56 Td (3,747) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 159.55 Td (Net cash used for) Tj ET Q q 0 0 0 rg BT 113.16 159.55 Td ( financing activities) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 159.55 Td (\(52,578) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 159.55 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.40 159.41 Td (\(2,306) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 562.65 159.41 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 47.00 144.36 Td ( Ef) Tj ET Q q 0 0 0 rg BT 66.58 144.36 Td (fect of exchange rate changes on cash of discontinued operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 144.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 553.65 144.36 Td (71) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 128.50 Td (Cash and Cash Equivalents) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 128.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 128.36 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 116.36 Td (T) Tj ET Q q 0 0 0 rg BT 64.18 116.36 Td (otal \(decrease\) increase for the year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.90 116.50 Td (\(16,343) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 116.50 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 116.36 Td (24,065) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 103.36 Td (Net increase related to discontinued operations) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.65 103.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.40 103.36 Td (8,227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 59.00 90.36 Td (Balance at the beginning of the year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.40 90.50 Td (101,600) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.90 90.36 Td (69,308) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 59.00 77.50 Td (Balance at the end of the year) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.00 77.50 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.90 77.50 Td (85,257) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.00 77.36 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.40 77.36 Td (101,600) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.00 53.60 Td (See notes to consolidated financial statements.) 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0.9333333333333333 1 rg /GS0 gs 577.00 334.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 585.00 334.75 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 622.00 334.75 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 632.00 334.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 682.00 334.75 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 691.00 334.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 308.75 262.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 308.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 308.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 308.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 308.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 308.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 308.75 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 308.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.00 308.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 577.00 308.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 585.00 308.75 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 622.00 308.75 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 632.00 308.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 682.00 308.75 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 691.00 308.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 282.75 262.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 282.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 282.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 282.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 282.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 282.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 282.75 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 282.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.00 282.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 577.00 282.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 585.00 282.75 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 622.00 282.75 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 632.00 282.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 682.00 282.75 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 691.00 282.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 256.75 262.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 256.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 256.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 256.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 256.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 256.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 256.75 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 256.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.00 256.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 577.00 256.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 585.00 256.75 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 622.00 256.75 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 632.00 256.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 682.00 256.75 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 691.00 256.75 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 230.75 262.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 230.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 230.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 230.75 40.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 230.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 230.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 230.75 41.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 230.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 534.00 230.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 577.00 230.75 8.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 585.00 230.75 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 622.00 230.75 10.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 632.00 230.75 50.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 682.00 230.75 9.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 691.00 230.75 48.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 525.75 m 526 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 525.75 m 534 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 525.75 m 577 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 525.75 m 585 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 525.75 m 622 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 525.75 m 632 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 525.75 m 682 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 478.75 m 354 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 478.75 m 394 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 478.75 m 434 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 478.75 m 477 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 478.75 m 485 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 478.75 m 526 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 525.75 m 534 525.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 478.75 m 534 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 478.75 m 577 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 478.75 m 585 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 478.75 m 622 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 478.75 m 632 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 478.75 m 682 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 478.75 m 691 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 478.75 m 739 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 464.75 m 354 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 451.75 m 354 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 464.75 m 394 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 451.75 m 394 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 464.75 m 434 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 451.75 m 434 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 464.75 m 477 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 451.75 m 477 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 464.75 m 485 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 451.75 m 485 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 464.75 m 526 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 451.75 m 526 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 464.75 m 534 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 451.75 m 534 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 464.75 m 577 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 451.75 m 577 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 464.75 m 585 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 451.75 m 585 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 464.75 m 622 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 451.75 m 622 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 464.75 m 632 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 451.75 m 632 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 464.75 m 682 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 451.75 m 682 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 464.75 m 691 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 451.75 m 691 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 464.75 m 739 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 451.75 m 739 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 451.75 m 434 451.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 360.75 m 477 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 360.75 m 622 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 360.75 m 682 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 360.75 m 354 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 347.75 m 354 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 360.75 m 394 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 347.75 m 394 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 360.75 m 434 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 347.75 m 434 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 360.75 m 477 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 347.75 m 477 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 360.75 m 485 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 347.75 m 485 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 360.75 m 526 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 347.75 m 526 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 360.75 m 534 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 347.75 m 534 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 360.75 m 577 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 347.75 m 577 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 360.75 m 585 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 347.75 m 585 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 360.75 m 622 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 347.75 m 622 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 360.75 m 632 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 347.75 m 632 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 360.75 m 682 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 347.75 m 682 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 360.75 m 691 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 347.75 m 691 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 360.75 m 739 360.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 347.75 m 739 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 347.75 m 477 347.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 217.75 m 354 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 206.75 m 354 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 204.75 m 354 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 217.75 m 394 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 206.75 m 394 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 204.75 m 394 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 217.75 m 434 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 206.75 m 434 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 204.75 m 434 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 217.75 m 477 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 206.75 m 477 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 204.75 m 477 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 217.75 m 485 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 206.75 m 485 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 204.75 m 485 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 217.75 m 526 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 206.75 m 526 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 204.75 m 526 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 217.75 m 534 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 206.75 m 534 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 204.75 m 534 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 217.75 m 577 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 206.75 m 577 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 534 204.75 m 577 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 217.75 m 585 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 206.75 m 585 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 577 204.75 m 585 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 217.75 m 622 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 206.75 m 622 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 585 204.75 m 622 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 217.75 m 632 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 206.75 m 632 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 622 204.75 m 632 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 217.75 m 682 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 206.75 m 682 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 632 204.75 m 682 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 217.75 m 691 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 206.75 m 691 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 682 204.75 m 691 204.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 217.75 m 739 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 206.75 m 739 206.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 691 204.75 m 739 204.75 l s BT /F2 8.50 Tf ET q 0 0 0 rg BT 491.05 530.09 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 562.98 530.09 Td ( Compr) Tj ET Q q 0 0 0 rg BT 590.92 530.09 Td (ehensive Income \(Loss\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 483.11 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 320.15 500.09 Td (Class ) Tj ET Q q 0 0 0 rg BT 341.41 500.09 Td (A) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 316.70 491.59 Td (Common) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 323.30 483.09 Td (Stock) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 359.90 500.09 Td (Class B) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 356.70 491.59 Td (Common) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 363.30 483.09 Td (Stock) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 400.00 508.59 Td (Capital) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 396.85 500.09 Td (in Excess) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 402.35 491.59 Td (of Par) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 403.25 483.09 Td (V) Tj ET Q q 0 0 0 rg BT 409.00 483.09 Td (alue) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 438.70 491.59 Td (Retained) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 438.45 483.09 Td (Earnings) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 486.90 508.59 Td (For) Tj ET Q q 0 0 0 rg BT 500.04 508.59 Td (eign) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 483.60 500.09 Td (Curr) Tj ET Q q 0 0 0 rg BT 501.93 500.09 Td (ency) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 480.05 491.59 Td (T) Tj ET Q q 0 0 0 rg BT 485.40 491.59 Td (ranslation) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 479.50 483.09 Td (Adjustment) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 534.75 517.09 Td (Deferr) Tj ET Q q 0 0 0 rg BT 558.73 517.09 Td (ed) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 529.85 508.59 Td (Gain \(Loss\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 528.75 500.09 Td (on ) Tj ET Q q 0 0 0 rg BT 539.62 500.09 Td (A) Tj ET Q q 0 0 0 rg BT 545.21 500.09 Td (vailable) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 537.00 491.59 Td (for) Tj ET Q q 0 0 0 rg BT 547.78 491.59 Td ( Sale) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 533.25 483.09 Td (Securities) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 582.75 517.09 Td (Deferr) Tj ET Q q 0 0 0 rg BT 606.73 517.09 Td (ed) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 590.00 508.59 Td (Gain) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 582.35 500.09 Td (\(Loss\) on) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 579.75 491.59 Td (Cash Flow) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 583.60 483.09 Td (Hedging) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 629.40 508.59 Td (Pension and) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 624.50 500.09 Td (Postr) Tj ET Q q 0 0 0 rg BT 643.78 500.09 Td (etir) Tj ET Q q 0 0 0 rg BT 656.36 500.09 Td (ement) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 643.20 491.59 Td (Plan) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 630.00 483.09 Td (Adjustment) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 700.70 500.09 Td (T) Tj ET Q q 0 0 0 rg BT 705.59 500.09 Td (otal) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 685.20 491.59 Td (Stockholders') Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 697.70 483.09 Td (Equity) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 463.65 469.11 Td (\(In thousands, except per share data\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 54.50 456.09 Td (Balance, January 1, 2017) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 316.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 331.50 456.11 Td (5,208) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 356.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 371.50 456.11 Td (1,571) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 396.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 456.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 436.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 446.00 456.11 Td (239,441) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 487.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 500.65 456.11 Td (\(7,533) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 522.65 456.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 554.50 456.11 Td (1,893) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 587.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 605.90 456.11 Td (393) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 634.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 652.40 456.11 Td (\(20,680) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 678.65 456.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 693.50 456.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 708.00 456.11 Td (220,293) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 443.11 Td (Stock-based compensation) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 342.15 443.11 Td (73) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 443.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 411.50 443.11 Td (4,447) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 465.15 443.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 514.15 443.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 565.15 443.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 610.15 443.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 670.15 443.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 716.50 443.11 Td (4,520) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 430.11 Td (Conversion of Class B to Class ) Tj ET Q q 0 0 0 rg BT 162.41 430.11 Td (A) Tj ET Q q 0 0 0 rg BT 168.08 430.11 Td ( shares) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 346.40 430.11 Td (1) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 383.55 430.16 Td (\(1) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 390.65 430.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 465.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 514.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 565.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 610.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 670.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 727.15 430.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 417.11 Td (Net income) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 342.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 450.25 417.11 Td (30,337) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 514.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 565.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 610.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 670.15 417.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 712.25 417.11 Td (30,337) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 404.11 Td (Cash dividends on Class) Tj ET Q q 0 0 0 rg BT 139.74 404.11 Td (A) Tj ET Q q 0 0 0 rg BT 145.41 404.11 Td ( and ClassB common stock: $0.9775 per share) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 342.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 451.65 404.11 Td (\(6,682) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 473.65 404.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 514.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 565.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 610.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 670.15 404.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 713.65 404.11 Td (\(6,682) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 735.65 404.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 391.11 Td (Current period other comprehensive income, net of tax) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 342.15 391.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 391.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 391.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 465.15 391.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 503.50 391.11 Td (1,725) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 560.90 391.11 Td (834) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 599.50 391.11 Td (1,543) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 665.90 391.11 Td (749) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 716.50 391.11 Td (4,851) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 378.11 Td (Reclassification adjustment to net income, net of tax) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 342.15 378.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 378.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 378.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 465.15 378.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 514.15 378.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 565.15 378.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 596.65 378.11 Td (\(2,369) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 618.65 378.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 665.90 378.11 Td (582) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 713.65 378.11 Td (\(1,787) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 735.65 378.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 365.11 Td (Hamilton Beach Brands Holding Company stock dividend \(See Note 3\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 316.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 342.15 365.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 356.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 382.15 365.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 396.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 422.15 365.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 436.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 447.40 365.11 Td (\(46,606) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 473.65 365.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 503.50 365.11 Td (5,808) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 565.15 365.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 587.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 605.90 365.11 Td (433) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 634.50 365.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 659.50 365.11 Td (8,281) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 709.40 365.11 Td (\(32,084) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 735.65 365.11 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 54.50 352.09 Td (Balance, December) Tj ET Q q 0 0 0 rg BT 124.29 352.09 Td ( 31, 2017) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 316.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 331.50 352.11 Td (5,282) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 356.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 371.50 352.11 Td (1,570) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 396.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 411.50 352.11 Td (4,447) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 436.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 446.00 352.11 Td (216,490) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 487.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 514.15 352.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 536.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 554.50 352.11 Td (2,727) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 587.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 610.15 352.11 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 634.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 652.40 352.11 Td (\(1) Tj ET Q q 0 0 0 rg BT 659.48 352.11 Td (1,068) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 678.65 352.11 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 693.50 352.11 Td ($) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 708.00 352.11 Td (219,448) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 339.11 Td (ASC 606 adoption \(See Note 2\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 451.65 339.09 Td (\(1,963) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 473.65 339.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 339.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 713.65 339.09 Td (\(1,963) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 735.65 339.09 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 326.11 Td (ASU 2016-01 adoption \(See Note 2\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 326.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 326.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 326.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 454.50 326.09 Td (2,727) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 326.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 551.65 326.09 Td (\(2,727) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 573.65 326.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 326.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 326.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 727.15 326.09 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 313.11 Td (ASU 2018-02 adoption \(See Note 2\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 313.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 313.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 313.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 454.50 313.09 Td (2,891) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 313.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 313.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 313.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 656.65 313.09 Td (\(2,731) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 678.65 313.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 722.90 313.09 Td (160) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 300.11 Td (Stock-based compensation) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 337.90 300.09 Td (108) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 300.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 411.50 300.09 Td (3,850) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 465.15 300.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 300.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 300.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 300.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 300.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 716.50 300.09 Td (3,958) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 287.11 Td (Purchase of treasury shares) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 339.30 287.14 Td (\(39) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 350.65 287.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 287.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 408.65 287.09 Td (\(1,255) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 430.65 287.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 465.15 287.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 287.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 287.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 287.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 287.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 713.65 287.09 Td (\(1,294) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 735.65 287.09 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 274.11 Td (Conversion of Class B to Class ) Tj ET Q q 0 0 0 rg BT 162.41 274.11 Td (A) Tj ET Q q 0 0 0 rg BT 168.08 274.11 Td ( shares) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 346.40 274.09 Td (1) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 383.55 274.14 Td (\(1) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 390.65 274.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 274.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 465.15 274.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 274.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 274.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 274.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 274.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 727.15 274.09 Td () Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 261.11 Td (Net income) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 450.25 261.09 Td (34,785) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 261.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 712.25 261.09 Td (34,785) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 248.11 Td (Cash dividends on Class) Tj ET Q q 0 0 0 rg BT 139.74 248.11 Td (A) Tj ET Q q 0 0 0 rg BT 145.41 248.11 Td ( and ClassB common stock: $0.6600 per share) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 451.65 248.09 Td (\(4,578) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 473.65 248.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 670.15 248.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 713.65 248.09 Td (\(4,578) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 735.65 248.09 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 235.11 Td (Current period other comprehensive income, net of tax) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 465.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 235.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 663.05 235.09 Td (\(301) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 678.65 235.09 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 720.05 235.09 Td (\(301) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 735.65 235.09 Td (\)) Tj ET Q BT /F1 8.50 Tf ET q 0 0 0 rg BT 54.50 222.11 Td (Reclassification adjustment to net income, net of tax) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 342.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 382.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 422.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 465.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 222.09 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 665.90 222.09 Td (489) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 722.90 222.09 Td (489) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 54.50 209.49 Td (Balance, December) Tj ET Q q 0 0 0 rg BT 124.21 209.49 Td ( 31, 2018) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 316.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 331.50 209.49 Td (5,352) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 356.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 371.50 209.49 Td (1,569) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 396.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 411.50 209.49 Td (7,042) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 436.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 446.00 209.49 Td (250,352) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 487.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 514.15 209.49 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 536.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 565.15 209.49 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 587.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 610.15 209.49 Td () Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 634.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 652.40 209.49 Td (\(13,61) Tj ET Q q 0 0 0 rg BT 674.36 209.49 Td (1) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 678.65 209.49 Td (\)) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 693.50 209.49 Td ($) Tj ET Q BT /F2 8.50 Tf ET q 0 0 0 rg BT 708.00 209.49 Td (250,704) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.25 Td (See notes to consolidated financial statements.) Tj ET Q endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (NOTE 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.34 692.10 Td (Principles of Consolidation and Natur) Tj ET Q q 0 0 0 rg BT 257.40 692.10 Td (e of Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.95 692.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (The Consolidated Financial Statements include the accounts of NACCO Industries, Inc. \(the parent company or NACCO\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (and its wholly owned subsidiaries \(NACCO Industries, Inc. and Subsidiaries or the Company\). Intercompany accounts and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (transactions are eliminated in consolidation. NACCO is the public holding company for ) Tj ET Q q 0 0 0 rg BT 403.42 644.10 Td (The North ) Tj ET Q q 0 0 0 rg BT 446.74 644.10 Td (American Coal Corporation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (The North ) Tj ET Q q 0 0 0 rg BT 92.83 632.10 Td (American Coal Corporation and its af) Tj ET Q q 0 0 0 rg BT 243.44 632.10 Td (filiated companies \(collectively) Tj ET Q q 0 0 0 rg BT 368.85 632.10 Td (, NACoal\) operate surface mines that supply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (coal primarily to power generation companies under long-term contracts, and provide other value-added services to natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (resource companies. In addition, its North ) Tj ET Q q 0 0 0 rg BT 221.96 608.10 Td (American Mining \("NAM"\) business operates and maintains draglines and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (equipment under contracts with sellers of aggregates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (On September 29, 2017, the Company spun-of) Tj ET Q q 0 0 0 rg BT 235.96 572.10 Td (f Hamilton Beach Brands Holding Company \("HBBHC"\), a former wholly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (owned subsidiary) Tj ET Q q 0 0 0 rg BT 119.12 560.10 Td (. ) Tj ET Q q 0 0 0 rg BT 123.57 560.10 Td (As a result of the spin-of) Tj ET Q q 0 0 0 rg BT 222.53 560.10 Td (f, NACCO stockholders received one share of HBBHC Class ) Tj ET Q q 0 0 0 rg BT 469.71 560.10 Td (A) Tj ET Q q 0 0 0 rg BT 476.38 560.10 Td ( common stock and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (one share of HBBHC Class B common stock for each share ofNACCO Class ) Tj ET Q q 0 0 0 rg BT 362.79 548.10 Td (A) Tj ET Q q 0 0 0 rg BT 369.46 548.10 Td ( or Class B common stock owned on the record ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (date for the spin-of) Tj ET Q q 0 0 0 rg BT 125.68 536.10 Td (f.) Tj ET Q q 0 0 0 rg BT 133.83 536.10 Td (The financial position, results of operations and cash flows of HBBHC are reflected as discontinued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (operations for all periods presented through the date of the spin-of) Tj ET Q q 0 0 0 rg BT 314.24 524.10 Td (f. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (NACoal has the following operating coal mining subsidiaries: Bisti Fuels Company) Tj ET Q q 0 0 0 rg BT 388.82 500.10 Td (, LLC \("Bisti"\), Caddo Creek Resources ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (Company) Tj ET Q q 0 0 0 rg BT 87.74 488.10 Td (, LLC \(Caddo Creek\), Camino Real Fuels, LLC \(Camino Real\), ) Tj ET Q q 0 0 0 rg BT 363.04 488.10 Td (The Coteau Properties Company \(Coteau\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (Coyote Creek Mining Company) Tj ET Q q 0 0 0 rg BT 177.45 476.10 Td (, LLC \(Coyote Creek\), Demery Resources Company) Tj ET Q q 0 0 0 rg BT 396.18 476.10 Td (, LLC \(Demery\), ) Tj ET Q q 0 0 0 rg BT 475.13 476.10 Td (The Falkirk Mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (Company \(Falkirk\), Mississippi Lignite Mining Company \(MLMC\) and ) Tj ET Q q 0 0 0 rg BT 358.46 464.10 Td (The Sabine Mining Company \(Sabine\). Liberty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (Fuels Company) Tj ET Q q 0 0 0 rg BT 111.91 452.10 Td (, LLC \("Liberty"\) ceased all mining and delivery of lignite in 2017 and commenced mine reclamation in 2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.10 Td (All of the operating coal mining subsidiaries other than MLMC are unconsolidated \(collectively the "Unconsolidated Mines"\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (The unconsolidated coal mining subsidiaries were formed to develop, construct and/or operate surface coal mines under long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (term contracts and are capitalized primarily with debt financing provided by or supported by their respective customers, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (without recourse to NACCO and NACoal. ) Tj ET Q q 0 0 0 rg BT 221.42 392.10 Td (Although NACoal owns ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 392.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.48 392.10 Td ( of the equity and manages the daily operations of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (Unconsolidated Mines, the Company has determined that the equity capital provided by NACoal is not suf) Tj ET Q q 0 0 0 rg BT 475.90 380.10 Td (ficient to adequately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (finance the ongoing activities or absorb any expected losses without additional support from the customers. ) Tj ET Q q 0 0 0 rg BT 481.44 368.10 Td (The customers have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 356.10 Td (a controlling financial interest and have the power to direct the activities that most significantly af) Tj ET Q q 0 0 0 rg BT 441.14 356.10 Td (fect the economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (performance of the entities. ) Tj ET Q q 0 0 0 rg BT 161.40 344.10 Td (As a result, NACoal is not the primary beneficiary and therefore does not consolidate these entities' ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (financial position or results of operations. ) Tj ET Q q 0 0 0 rg BT 218.45 332.10 Td (The income taxes resulting from operations of the Unconsolidated Mines are solely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (the responsibility of the Company) Tj ET Q q 0 0 0 rg BT 184.94 320.10 Td (. ) Tj ET Q q 0 0 0 rg BT 189.76 320.10 Td (The pre-tax income from the Unconsolidated Mines is reported on the line Earnings of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (unconsolidated operations in the Consolidated Statements of Operations, with related taxes included in the provision for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (income taxes. ) Tj ET Q q 0 0 0 rg BT 106.80 296.10 Td (The Company has included the pre-tax earnings of the Unconsolidated Mines above operating profit as they are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (an integral component of the Company's business and operating results. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (MLMC is a consolidated entity because NACoal pays all operating costs and provides the capital for the mine. MLMC sells ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (coal to its customer at a contractually agreed upon price which adjusts monthly) Tj ET Q q 0 0 0 rg BT 365.42 248.10 Td (, primarily based on changes in the level of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (established indices which reflect general U.S. inflation rates. Centennial Natural Resources, LLC \("Centennial"\), which ceased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (coal production at the end of 2015, is also a consolidated entity) Tj ET Q q 0 0 0 rg BT 301.57 224.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (NAM primarily provides value-added services for independently owned limestone quarries and is reimbursed by its customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (based on production costs plus a management fee per unit of limestone delivered. ) Tj ET Q q 0 0 0 rg BT 377.56 188.10 Td (The financial results for NAM are included in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (the consolidated mining operations or unconsolidated mining operations based on each entity's structure. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (The contracts with the customers of the unconsolidated subsidiaries eliminate exposure to spot coal market price fluctuations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (and are based on a "management fee" approach, whereby compensation includes reimbursement of all operating costs, plus a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (fee based on the amount of coal or limestone delivered. ) Tj ET Q q 0 0 0 rg BT 273.41 128.10 Td (The fees earned adjust over time in line with various indices which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (reflect general U.S. inflation rates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (NACoal also provides coal handling, processing and drying services for a number of customers. For example, NoDak Ener) Tj ET Q q 0 0 0 rg BT 541.41 92.10 Td (gy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 80.10 Td (Services, LLC \("NoDak"\) operates and maintains a coal processing facility for a customer's power plant. ) Tj ET Q q 0 0 0 rg BT 470.54 80.10 Td (The pre-tax income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (from NoDak is reported on the line "Incomefrom other unconsolidated af) Tj ET Q q 0 0 0 rg BT 344.70 68.10 Td (filiates" in the "Other \(income\) expense" section of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (the Consolidated Statements of Operations, with the related income taxes included in the provision for income taxes. North ) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.70 33.60 Td (F-1) Tj ET Q q 0 0 0 rg BT 310.22 33.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.10 Td (American Coal Royalty Company) Tj ET Q q 0 0 0 rg BT 185.21 704.10 Td (, a consolidated entity) Tj ET Q q 0 0 0 rg BT 272.32 704.10 Td (, provides surface and mineral acquisition and lease maintenance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.10 Td (services related to the Company's operations and owns the mineral rights of various properties throughout the U.S.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (All of the unconsolidated subsidiaries are accounted for under the equity method. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.46 668.10 Td (See Note 17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.34 668.10 Td ( for further discussion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (NOTE 2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.34 641.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 143.41 641.10 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.01 641.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (Use of Estimates:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.37 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 125.69 617.10 Td (The preparation of financial statements in conformity with U.S. generally accepted accounting principles ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (requires management to make estimates and judgments. ) Tj ET Q q 0 0 0 rg BT 275.36 605.10 Td (These estimates and judgments af) Tj ET Q q 0 0 0 rg BT 410.14 605.10 Td (fect the reported amounts of assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (and liabilities and the disclosure of contingent assets and liabilities \(if any\) at the date of the financial statements and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (reported amounts of revenues and expenses during the reporting period. ) Tj ET Q q 0 0 0 rg BT 338.58 581.10 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 431.99 581.10 Td (fer from those estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (Cash and Cash Equivalents:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.37 563.10 Td ( Cash and cash equivalents include cash in banks and highly liquid investments with original ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.10 Td (maturities of three months or less.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (Inventories:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.16 533.10 Td ( NACoal inventories are stated at the lower of cost or net realizable value. ) Tj ET Q q 0 0 0 rg BT 399.48 533.10 Td (The weighted average method is used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (for inventory valuation. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 503.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 59.87 503.10 Td (operty) Tj ET Q q 0 0 0 rg BT 87.08 503.10 Td (, Plant and Equipment, Net:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.10 503.10 Td ( Property) Tj ET Q q 0 0 0 rg BT 243.39 503.10 Td (, plant and equipment are initially recorded at cost. Depreciation, depletion and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (amortization are provided in amounts suf) Tj ET Q q 0 0 0 rg BT 214.00 491.10 Td (ficient to amortize the cost of the assets, including assets recorded under capital leases, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (over their estimated useful lives using the straight-line method or the units-of-production method. Buildings and building ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (improvements are depreciated over the life of the mine, which is generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.66 467.10 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.66 467.10 Td ( years. Estimated lives for machinery and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.10 Td (equipment range from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.86 455.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.84 455.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.62 455.10 Td (15 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.22 455.10 Td (. ) Tj ET Q q 0 0 0 rg BT 212.04 455.10 Td (The units-of-production method is used to amortize certain assets based on estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td (recoverable tonnages. Repairs and maintenance costs are expensed when incurred, unless such costs extend the estimated useful ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.10 Td (life of the asset, in which case such costs are capitalized and depreciated. ) Tj ET Q q 0 0 0 rg BT 343.54 431.10 Td (Asset retirement costs associated with asset retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td (obligations are capitalized with the carrying amount of the related long-lived asset and depreciated over the asset's estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.10 Td (useful life. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 101.46 389.10 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.45 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.77 389.10 Td (The Company periodically evaluates long-lived assets for impairment when changes in circumstances or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (the occurrence of certain events indicate the carrying amount of an asset or asset group may not be recoverable. Upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (identification of indicators of impairment, the Company evaluates the carrying value of the asset by comparing the estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (future undiscounted cash flows generated from the use of the asset and its eventual disposition with the asset's net carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (value. If the carrying value of an asset is considered impaired, an impairment char) Tj ET Q q 0 0 0 rg BT 377.80 341.10 Td (ge is recorded for the amount that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (carrying value of the long-lived asset exceeds its fair value. Fair value is estimated as the price that would be received to sell an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (Coal Supply ) Tj ET Q q 0 0 0 rg BT 103.97 299.10 Td (Agr) Tj ET Q q 0 0 0 rg BT 120.45 299.10 Td (eement:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.32 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.64 299.10 Td (The coal supply agreement represents a long-term supply agreement with a NACoal customer and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (was recorded based on the fair value at the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 301.17 287.10 Td (The coal supply agreement is amortized based on units of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (production over the term of the agreement, which is estimated to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.47 275.10 Td (30 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.07 275.10 Td (. ) Tj ET Q q 0 0 0 rg BT 360.89 275.10 Td (The Company reviews identified intangible assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (for impairment when changes in circumstances or the occurrence of certain events indicate potential impairment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (Self-insurance Liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.22 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.54 245.10 Td (The Company is generally self-insured for medical claims, certain workers) Tj ET Q q 0 0 0 rg BT 463.47 245.10 Td ( compensation claims ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (and certain closed mine liabilities. ) Tj ET Q q 0 0 0 rg BT 188.35 233.10 Td (An estimated provision for claims reported and for claims incurred but not yet reported under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (the self-insurance programs is recorded and revised periodically based on industry trends, historical experience and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (management judgment. In addition, industry trends are considered within management's judgment for valuing claims. Changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (in assumptions for such matters as legal judgments and settlements, inflation rates, medical costs and actual experience could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (cause estimates to change in the near term.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 167.10 Td (Revenue Recognition:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.10 167.10 Td ( Revenues are recognized when control of the promised goods or services is transferred to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 155.10 Td (Company) Tj ET Q q 0 0 0 rg BT 91.17 155.10 Td (s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 143.10 Td (goods or services.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (Stock Compensation:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.90 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.22 125.10 Td (The Company maintains long-term incentive programs that allow for the grant of shares of Class) Tj ET Q q 0 0 0 rg BT 532.29 125.10 Td (A) Tj ET Q q 0 0 0 rg BT 538.96 125.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (common stock, subject to restrictions, as a means of retaining and rewarding selected employees for long-term performance and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (to increase ownership in the Company) Tj ET Q q 0 0 0 rg BT 202.42 101.10 Td (. Shares awarded under the plans are fully vested and entitle the stockholder to all rights ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (of common stock ownership except that shares may not be assigned, pledged or otherwise transferred during the restriction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (period. In general, for shares awarded for the year ended December 31, 2018, the restriction period ends at the earliest of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.44 65.10 Td (five years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.58 65.10 Td ( after the participant's retirement date, \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.53 65.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.51 65.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.51 65.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.06 65.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.39 65.10 Td (ten years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.21 65.10 Td ( from the award date, or \(iii\)the participant's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 53.10 Td (death or permanent disability) Tj ET Q q 0 0 0 rg BT 165.76 53.10 Td (. In general, for shares awarded for years ended December 31, 2017 and prior) Tj ET Q q 0 0 0 rg BT 475.23 53.10 Td (, the restriction ) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (period ends at the earliest of \(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.95 695.10 Td (five years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.10 695.10 Td ( after the participant's retirement date, \(ii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.04 695.10 Td (ten years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.86 695.10 Td ( from the award date, or \(iii\)the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (participant's death or permanent disability) Tj ET Q q 0 0 0 rg BT 216.71 683.10 Td (. Pursuant to the plans, the Company issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.92 683.10 Td (96,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.42 683.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.86 683.10 Td (92,572) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.36 683.10 Td ( shares related to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.48 671.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.06 671.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.50 671.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.50 671.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 270.16 671.10 Td (. ) Tj ET Q q 0 0 0 rg BT 274.61 671.10 Td (After the issuance of these shares, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.58 671.10 Td (31) Tj ET Q q 0 0 0 rg BT 467.21 671.10 Td (1,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.71 671.10 Td ( shares of Class ) Tj ET Q q 0 0 0 rg BT 554.15 671.10 Td (A) Tj ET Q q 0 0 0 rg BT 560.82 671.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (common stock available for issuance under these plans. Compensation expense related to these share awards was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.13 659.10 Td ($3.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.02 659.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 647.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.83 647.10 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.72 647.10 Td ( net of tax\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.75 647.10 Td ($3.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.65 647.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.48 647.10 Td ($2.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.37 647.10 Td ( net of tax\) for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.31 647.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.90 647.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.34 647.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.34 647.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 635.10 Td (. Compensation expense represents fair value based on the market price of the shares of Class ) Tj ET Q q 0 0 0 rg BT 473.43 635.10 Td (A) Tj ET Q q 0 0 0 rg BT 480.10 635.10 Td ( common stock at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (the grant date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (The Company also has a stock compensation plan for non-employee directors of the Company under which a portion of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (annual retainer for each non-employee director is paid in restricted shares of Class) Tj ET Q q 0 0 0 rg BT 380.76 593.10 Td (A) Tj ET Q q 0 0 0 rg BT 387.43 593.10 Td ( common stock. For the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 581.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.08 581.10 Td ($90,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.58 581.10 Td ( of the non-employee director's annual retainer of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.64 581.10 Td ($150,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.14 581.10 Td ( was paid in restricted shares of Class ) Tj ET Q q 0 0 0 rg BT 555.33 581.10 Td (A) Tj ET Q q 0 0 0 rg BT 562.00 581.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (common stock. For the three months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.02 569.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.61 569.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.61 569.10 Td ($22,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.11 569.10 Td ( of the non-employee director's annual retainer of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td ($37,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.00 557.10 Td ( was paid in restricted shares of Class ) Tj ET Q q 0 0 0 rg BT 234.19 557.10 Td (A) Tj ET Q q 0 0 0 rg BT 240.86 557.10 Td ( common stock. For the nine months ended September 30, 2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.38 557.10 Td ($66,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.88 557.10 Td ( of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (non-employee director's annual retainer of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.51 545.10 Td ($108,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.01 545.10 Td ( was paid in restricted shares of Class ) Tj ET Q q 0 0 0 rg BT 411.19 545.10 Td (A) Tj ET Q q 0 0 0 rg BT 417.86 545.10 Td ( common stock. Shares awarded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (under the plan are fully vested and entitle the stockholder to all rights of common stock ownership except that shares may not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (be assigned, pledged or otherwise transferred during the restriction period. In general, the restriction period ends at the earliest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (of \(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.27 509.10 Td (ten years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.08 509.10 Td ( from the award date, \(ii\)the date of the director's death or permanent disability) Tj ET Q q 0 0 0 rg BT 425.51 509.10 Td (, \(iii\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.00 509.10 Td (five years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 509.10 Td ( \(or earlier with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (the approval of the Board of Directors\) after the director's date of retirement from the Board of Directors, or \(iv\) the date the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (director has both retired from the Board of Directors and has reached age ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.66 485.10 Td (70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.66 485.10 Td (. Pursuant to this plan, the Company issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.20 485.10 Td (26,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.70 485.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.44 473.10 Td (18,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.94 473.10 Td ( shares related to the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.60 473.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.19 473.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.62 473.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.62 473.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 399.29 473.10 Td (. In addition to the mandatory retainer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (fee received in restricted stock, directors may elect to receive shares of Class) Tj ET Q q 0 0 0 rg BT 358.81 461.10 Td (A) Tj ET Q q 0 0 0 rg BT 365.48 461.10 Td ( common stock in lieu of cash for up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 461.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.23 461.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (the balance of their annual retainer) Tj ET Q q 0 0 0 rg BT 188.19 449.10 Td (, committee retainer and any committee chairman's fees. ) Tj ET Q q 0 0 0 rg BT 415.83 449.10 Td (These voluntary shares are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (subject to any restrictions. ) Tj ET Q q 0 0 0 rg BT 156.79 437.10 Td (T) Tj ET Q q 0 0 0 rg BT 162.21 437.10 Td (otal shares issued under voluntary elections were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.75 437.10 Td (560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.75 437.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.53 437.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.53 437.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.97 437.10 Td (2,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.47 437.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.25 437.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.25 437.10 Td (. ) Tj ET Q q 0 0 0 rg BT 487.70 437.10 Td (After the issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (of these shares, there were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.78 425.10 Td (54,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.28 425.10 Td ( shares of Class ) Tj ET Q q 0 0 0 rg BT 249.72 425.10 Td (A) Tj ET Q q 0 0 0 rg BT 256.39 425.10 Td ( common stock available for issuance under this plan. Compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (expense related to these awards was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.11 413.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.00 413.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.83 413.10 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.72 413.10 Td ( net of tax\) and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.75 413.10 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.64 413.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.47 413.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.37 413.10 Td ( net of tax\) for the years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.88 401.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.46 401.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.90 401.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.90 401.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 246.56 401.10 Td (. Compensation expense represents fair value based on the market price of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (shares of Class ) Tj ET Q q 0 0 0 rg BT 111.44 389.10 Td (A) Tj ET Q q 0 0 0 rg BT 118.11 389.10 Td ( common stock at the grant date.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (Financial Instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.56 371.10 Td ( Financial instruments held by the Company include cash and cash equivalents, accounts receivable, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.10 Td (accounts payable, revolving credit agreements and long-term debt. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 67.64 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 69.96 341.10 Td (V) Tj ET Q q 0 0 0 rg BT 76.27 341.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 129.13 341.10 Td (ements: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.95 341.10 Td (The Company accounts for the fair value measurement of its financial assets and liabilities in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (accordance with U.S. generally accepted accounting principles, which defines fair value as the price that would be received to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 300.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 300.10 Td ( fair value hierarchy requires an entity to maximize the use of observable inputs, where available, and minimize the use of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 288.10 Td (unobservable inputs when measuring fair value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 271.10 Td (Described below are the three levels of inputs that may be used to measure fair value:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 253.10 Td (Level1- Quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 241.10 Td (Level2- ) Tj ET Q q 0 0 0 rg BT 124.09 241.10 Td (Observable ) Tj ET Q q 0 0 0 rg BT 172.13 241.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 198.51 241.10 Td (that ) Tj ET Q q 0 0 0 rg BT 216.00 241.10 Td (are ) Tj ET Q q 0 0 0 rg BT 230.71 241.10 Td (based ) Tj ET Q q 0 0 0 rg BT 255.98 241.10 Td (on ) Tj ET Q q 0 0 0 rg BT 268.48 241.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 295.43 241.10 Td (not ) Tj ET Q q 0 0 0 rg BT 310.71 241.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 340.42 241.10 Td (on ) Tj ET Q q 0 0 0 rg BT 352.92 241.10 Td (active ) Tj ET Q q 0 0 0 rg BT 379.29 241.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 415.95 241.10 Td (but ) Tj ET Q q 0 0 0 rg BT 431.23 241.10 Td (corroborated ) Tj ET Q q 0 0 0 rg BT 484.81 241.10 Td (by ) Tj ET Q q 0 0 0 rg BT 497.31 241.10 Td (market ) Tj ET Q q 0 0 0 rg BT 527.58 241.10 Td (data.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 229.10 Td (Level3- ) Tj ET Q q 0 0 0 rg BT 124.09 229.10 Td (Unobservable ) Tj ET Q q 0 0 0 rg BT 182.13 229.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 209.08 229.10 Td (are ) Tj ET Q q 0 0 0 rg BT 223.79 229.10 Td (used ) Tj ET Q q 0 0 0 rg BT 244.62 229.10 Td (when ) Tj ET Q q 0 0 0 rg BT 268.78 229.10 Td (little ) Tj ET Q q 0 0 0 rg BT 289.61 229.10 Td (or ) Tj ET Q q 0 0 0 rg BT 300.44 229.10 Td (no ) Tj ET Q q 0 0 0 rg BT 312.94 229.10 Td (market ) Tj ET Q q 0 0 0 rg BT 343.20 229.10 Td (data ) Tj ET Q q 0 0 0 rg BT 362.36 229.10 Td (is ) Tj ET Q q 0 0 0 rg BT 371.53 229.10 Td (available. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 211.10 Td (The hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. ) Tj ET Q q 0 0 0 rg BT 540.83 211.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 199.10 Td (classification of fair value measurements within the hierarchy is based upon the lowest level of input that is significant to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.10 Td (measurement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.31 187.10 Td (See Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.19 187.10 Td ( for further discussion of fair value measurements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 169.10 Td (Recently Issued ) Tj ET Q q 0 0 0 rg BT 118.39 169.10 Td (Accounting Standards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 145.10 Td (Accounting Standards ) Tj ET Q q 0 0 0 rg BT 146.75 145.10 Td (Adopted in 2018: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.59 145.10 Td (The Company accounts for revenue in accordance with ) Tj ET Q q 0 0 0 rg BT 445.28 145.10 Td (Accounting Standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.10 Td (Codification \("ASC"\) ) Tj ET Q q 0 0 0 rg BT 138.59 133.10 Td (T) Tj ET Q q 0 0 0 rg BT 144.00 133.10 Td (opic 606, "Revenue from Contracts with Customers", which NACCO adopted on January 1, 2018, using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.10 Td (the modified retrospective method. ) Tj ET Q q 0 0 0 rg BT 191.78 121.10 Td (The adoption of ) Tj ET Q q 0 0 0 rg BT 257.60 121.10 Td (ASC 606 resulted in the establishment of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.46 121.10 Td ($2.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.35 121.10 Td ( contract liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.10 Td (and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.38 109.10 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.27 109.10 Td ( cumulative ef) Tj ET Q q 0 0 0 rg BT 179.29 109.10 Td (fect adjustment to beginning retained earnings \(net of tax of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.43 109.10 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.32 109.10 Td (\) as of January 1, 2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.10 Td (to reflect the impact of changing the accounting for lease bonus payments received under certain royalty contracts. Results for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.10 Td (reporting periods beginning after January 1, 2018 are presented under ) Tj ET Q q 0 0 0 rg BT 330.61 85.10 Td (T) Tj ET Q q 0 0 0 rg BT 336.02 85.10 Td (opic 606, while prior period results are not adjusted and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.10 Td (continue to be reported in accordance with our historical accounting under ) Tj ET Q q 0 0 0 rg BT 349.49 73.10 Td (T) Tj ET Q q 0 0 0 rg BT 354.90 73.10 Td (opic 605.) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.25 Td (Natur) Tj ET Q q 0 0 0 rg BT 74.87 695.25 Td (e of Performance Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 675.25 Td (At contract inception, the Company assesses the goods and services promised in its contracts with customers and identifies a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 663.25 Td (performance obligation for each promised good or service that is distinct. ) Tj ET Q q 0 0 0 rg BT 345.34 663.25 Td (T) Tj ET Q q 0 0 0 rg BT 350.75 663.25 Td (o identify the performance obligations, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 651.25 Td (Company considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 639.25 Td (implied by customary business practices. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 619.25 Td (Each ) Tj ET Q q 0 0 0 rg BT 71.79 619.25 Td (mine ) Tj ET Q q 0 0 0 rg BT 94.09 619.25 Td (or ) Tj ET Q q 0 0 0 rg BT 104.72 619.25 Td (mine ) Tj ET Q q 0 0 0 rg BT 127.02 619.25 Td (area ) Tj ET Q q 0 0 0 rg BT 145.97 619.25 Td (has ) Tj ET Q q 0 0 0 rg BT 161.61 619.25 Td (a ) Tj ET Q q 0 0 0 rg BT 168.35 619.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 202.86 619.25 Td (with ) Tj ET Q q 0 0 0 rg BT 222.94 619.25 Td (its ) Tj ET Q q 0 0 0 rg BT 234.70 619.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 277.53 619.25 Td (customer ) Tj ET Q q 0 0 0 rg BT 316.49 619.25 Td (that ) Tj ET Q q 0 0 0 rg BT 333.79 619.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 376.63 619.25 Td (a ) Tj ET Q q 0 0 0 rg BT 383.38 619.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 417.88 619.25 Td (under ) Tj ET Q q 0 0 0 rg BT 442.45 619.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 464.21 619.25 Td (606. ) Tj ET Q q 0 0 0 rg BT 484.01 619.25 Td (For ) Tj ET Q q 0 0 0 rg BT 500.21 619.25 Td (its ) Tj ET Q q 0 0 0 rg BT 511.96 619.25 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 607.25 Td (entities, ) Tj ET Q q 0 0 0 rg BT 83.38 607.25 Td (NACoal) Tj ET Q q 0 0 0 rg BT 119.49 607.25 Td (s ) Tj ET Q q 0 0 0 rg BT 125.88 607.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 178.90 607.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 225.85 607.25 Td (vary ) Tj ET Q q 0 0 0 rg BT 246.12 607.25 Td (by ) Tj ET Q q 0 0 0 rg BT 258.62 607.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 293.32 607.25 Td (and ) Tj ET Q q 0 0 0 rg BT 310.26 607.25 Td (consist ) Tj ET Q q 0 0 0 rg BT 340.54 607.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.37 607.25 Td (the ) Tj ET Q q 0 0 0 rg BT 366.08 607.25 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 587.75 Td (At MLMC, each MMBtu delivered during the production period is considered a separate performance obligation. Revenue is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.75 Td (recognized at the point in time that control of each MMBtu of lignite transfers to the customer) Tj ET Q q 0 0 0 rg BT 425.51 575.75 Td (. Fluctuations in revenue from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.75 Td (period to period generally result from changes in customer demand.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 543.75 Td (At NAM entities, the management service to oversee the operation of the equipment and delivery of limestone is the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 531.75 Td (performance obligation accounted for as a series. Performance momentarily creates an asset that the customer simultaneously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 519.75 Td (receives and consumes; therefore, control is transferred to the customer over time. Consistent with the conclusion that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 507.75 Td (customer simultaneously receives and consumes the benefits provided, an input-based measure of progress is appropriate. ) Tj ET Q q 0 0 0 rg BT 538.53 507.75 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 495.75 Td (each month of service is completed, revenue is recognized for the amount of actual costs incurred, plus the management fee and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 483.75 Td (the general and administrative fee \(as applicable\). Fluctuations in revenue from period to period result from changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 471.75 Td (customer demand and variances in reimbursable costs primarily due to increases and decreases in activity levels on individual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 459.75 Td (contracts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 439.75 Td (NACoal enters into royalty contracts which grant the right to its customers to explore, develop, produce and sell minerals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 427.75 Td (controlled by the Company) Tj ET Q q 0 0 0 rg BT 158.00 427.75 Td (. ) Tj ET Q q 0 0 0 rg BT 165.32 427.75 Td (These arrangements result in the transfer of mineral rights to a customer for a period of time; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 415.75 Td (however) Tj ET Q q 0 0 0 rg BT 83.53 415.75 Td (, no rights to the actual land are granted other than access for purposes of exploration, development, and production. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 403.75 Td (The mineral rights revert back to NACoal at the expiration of the contract. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.75 Td (Under these royalty contracts, granting exclusive right, title, and interest in and to minerals, if any) Tj ET Q q 0 0 0 rg BT 440.68 383.75 Td (, is the performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.75 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 94.87 371.75 Td (The performance obligation under these contracts represents a series of distinct goods or services whereby each day ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.75 Td (of access that is provided is distinct. ) Tj ET Q q 0 0 0 rg BT 196.51 359.75 Td (The transaction price consists of a variable sales-based royalty and, in certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 346.55 Td (arrangements, a fixed component in the form of an up-front lease bonus payment.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 376.06 346.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.81 346.55 Td (As the amount of consideration the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.55 Td (will ultimately be entitled to is entirely susceptible to factors outside its control, the entire amount of variable consideration is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.55 Td (constrained at contract inception. ) Tj ET Q q 0 0 0 rg BT 184.54 322.55 Td (The fixed portion of the transaction price will be recognized over the primary term of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 310.55 Td (contract, which is generally five years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 290.55 Td (Significant Judgments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.55 Td (The Company) Tj ET Q q 0 0 0 rg BT 109.21 270.55 Td (s contracts with its customers contain dif) Tj ET Q q 0 0 0 rg BT 272.33 270.55 Td (ferent types of variable consideration including, but not limited to, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.55 Td (management fees that adjust based on coal volumes or MMBtu delivered or limestone yards, however) Tj ET Q q 0 0 0 rg BT 457.04 258.55 Td (, the terms of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.55 Td (variable payments relate specifically to our ef) Tj ET Q q 0 0 0 rg BT 232.01 246.55 Td (forts to satisfy one or more, but not all of, the performance obligations \(or to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.55 Td (specific outcome from satisfying the performance obligations\), in the contract. ) Tj ET Q q 0 0 0 rg BT 368.38 234.55 Td (Therefore, the Company allocates each variable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.55 Td (payment \(and subsequent changes to that payment\) entirely to the specific performance obligation to which it relates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.55 Td (Management fees, as well as general and administrative char) Tj ET Q q 0 0 0 rg BT 292.27 210.55 Td (ges, are also adjusted based on changes in specified indices \(e.g. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.55 Td (CPI\) to compensate for general inflation changes. Index adjustments, if applicable, are ef) Tj ET Q q 0 0 0 rg BT 408.08 198.55 Td (fective prospectively) Tj ET Q q 0 0 0 rg BT 491.00 198.55 Td (. Certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.55 Td (contracts include reimbursement of actual costs incurred. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 162.55 Td (Disaggr) Tj ET Q q 0 0 0 rg BT 82.65 162.55 Td (egation of Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 142.55 Td (In accordance with ) Tj ET Q q 0 0 0 rg BT 127.52 142.55 Td (ASC 606-10-50, the Company disaggregates revenue from contracts with customers into major goods and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.55 Td (service lines and timing of transfer of goods and services. ) Tj ET Q q 0 0 0 rg BT 282.31 130.55 Td (The Company determined that disaggregating revenue into these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.55 Td (categories achieves the disclosure objective of depicting how the nature, amount, timing, and uncertainty of revenue and cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 106.55 Td (flows are af) Tj ET Q q 0 0 0 rg BT 96.52 106.55 Td (fected by economic factors. ) Tj ET Q q 0 0 0 rg BT 208.97 106.55 Td (As noted in the segment information footnote, the Company) Tj ET Q q 0 0 0 rg BT 452.54 106.55 Td (s business consists of one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 94.55 Td (operating segment, NACoal. ) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (The following table disaggregates revenue by major sources:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 643.60 385.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 643.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 643.60 8.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 643.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 615.60 385.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 615.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 615.60 8.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 615.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 587.60 385.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 587.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 587.60 8.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 587.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 559.60 385.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 559.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 559.60 8.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 559.60 59.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 658.6 m 494 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 658.6 m 502 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 658.6 m 561 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 658.6 m 494 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 643.6 m 494 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 658.6 m 561 658.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 643.6 m 561 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 643.6 m 494 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 643.6 m 561 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 615.6 m 494 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 615.6 m 561 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 615.6 m 494 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 602.6 m 494 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 600.6 m 494 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 615.6 m 561 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 602.6 m 561 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 600.6 m 561 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 545.6 m 494 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 532.6 m 494 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 530.6 m 494 530.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 545.6 m 561 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 532.6 m 561 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 530.6 m 561 530.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.05 675.85 Td (YEAR ENDED) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 470.70 662.85 Td (DECEMBER 31) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 646.9333984375 m 163.0322265625 646.9333984375 l s q 0 0 0 rg BT 52.50 648.27 Td (Major Goods/Service Lines) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.00 647.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.95 647.85 Td (2017 ) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 536.95 651.48 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 634.17 Td (Consolidated operations - long-term contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 634.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 634.28 Td (1) Tj ET Q q 0 0 0 rg BT 462.65 634.28 Td (17,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 634.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 634.17 Td (92,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 620.17 Td (Royalty) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.65 620.28 Td (17,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 620.17 Td (12,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 606.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 606.17 Td (otal revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 606.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 606.28 Td (135,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 606.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 606.17 Td (104,778) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 576.8333984375 m 181.2890625 576.8333984375 l s q 0 0 0 rg BT 52.50 578.17 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 578.17 Td (iming of Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 564.17 Td (Goods transferred at a point in time) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 564.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.65 564.28 Td (78,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 564.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 564.17 Td (60,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 550.17 Td (Services transferred over time) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.65 550.28 Td (56,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 550.17 Td (44,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 536.17 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 536.17 Td (otal revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 536.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 536.28 Td (135,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 536.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.65 536.17 Td (104,778) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 49.50 512.63 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.70 508.10 Td (As noted above, prior period amounts have not been adjusted under the modified retrospective method.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (Contract Balances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 468.10 Td (The opening and closing balances of the Company) Tj ET Q q 0 0 0 rg BT 254.72 468.10 Td (s current and long-term contract liability) Tj ET Q q 0 0 0 rg BT 415.96 468.10 Td (, and receivables are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 442.60 242.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.50 442.60 84.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 442.60 9.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 442.60 84.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 442.60 9.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 442.60 84.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 399.60 242.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.50 399.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.50 399.60 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 399.60 84.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.50 399.60 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 399.60 84.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 442.6 m 375.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.5 442.6 m 384.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 442.6 m 468.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 442.6 m 477.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 442.6 m 561.5 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 385.6 m 375.5 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 385.6 m 375.5 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 372.6 m 375.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291.5 370.6 m 375.5 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 385.6 m 468.5 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 372.6 m 468.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 370.6 m 468.5 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 385.6 m 561.5 385.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 372.6 m 561.5 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 370.6 m 561.5 370.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.30 447.27 Td (Contract balances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.75 428.27 Td (T) Tj ET Q q 0 0 0 rg BT 308.68 428.27 Td (rade accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.85 418.27 Td (receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.95 428.27 Td (Contract liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.50 418.27 Td (\(current\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.95 428.27 Td (Contract liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.95 418.27 Td (\(long-term\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 404.28 Td (Balance, January 1, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 404.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 404.17 Td (14,61) Tj ET Q q 0 0 0 rg BT 366.65 404.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 404.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 404.17 Td (860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 404.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 404.17 Td (1,766) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 390.28 Td (Balance, December) Tj ET Q q 0 0 0 rg BT 134.01 390.28 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 390.28 Td (20,817) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 390.28 Td (754) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.15 390.28 Td (2,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 376.17 Td (Increase \(decrease\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 376.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.15 376.17 Td (6,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 376.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 376.22 Td (\(106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 376.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.00 376.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 376.17 Td (242) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 348.10 Td (As described above, NACoal enters into royalty contracts that grant exclusive right, title, and interest in and to minerals. ) Tj ET Q q 0 0 0 rg BT 533.35 348.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 336.10 Td (transaction price consists of a variable sales-based royalty and, in certain arrangements, a fixed component in the form of an up-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 324.10 Td (front lease bonus payment. ) Tj ET Q q 0 0 0 rg BT 159.57 324.10 Td (The timing of the payment of the fixed portion of the transaction price is upfront, however) Tj ET Q q 0 0 0 rg BT 520.73 324.10 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.10 Td (performance obligation is satisfied over the primary term of the contract, which is generally five years. ) Tj ET Q q 0 0 0 rg BT 463.06 312.10 Td (Therefore, at the time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 300.10 Td (any such up-front payment is received, a contract liability is recorded which represents deferred revenue. ) Tj ET Q q 0 0 0 rg BT 474.14 300.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 503.12 300.10 Td (ference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 288.10 Td (between the opening and closing balance of this contract liability) Tj ET Q q 0 0 0 rg BT 309.05 288.10 Td (, which is shown above, primarily results from the dif) Tj ET Q q 0 0 0 rg BT 523.55 288.10 Td (ference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 276.10 Td (between new lease bonus payments received and amortization of up-front lease bonus payments received in previous periods.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.10 Td (The amount of revenue recognized in the year ended December 31, 2018 that was included in the opening contract liability was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 240.10 Td ($1.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.39 240.10 Td (. ) Tj ET Q q 0 0 0 rg BT 103.21 240.10 Td (This revenue consists of up-front lease bonus payments received under royalty contracts that are recognized over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 228.10 Td (the primary term of the royalty agreement, which is generally five years. ) Tj ET Q q 0 0 0 rg BT 341.99 228.10 Td (The Company expects to recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.54 228.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.44 228.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 216.10 Td (2019, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 216.10 Td ($0.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.39 216.10 Td ( in both 2020 and 2021, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.89 216.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.78 216.10 Td ( in 2022 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.00 216.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.89 216.10 Td ( in 2023 related to the contract liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 204.10 Td (remaining at December 31, 2018. ) Tj ET Q q 0 0 0 rg BT 185.66 204.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 214.64 204.10 Td (ference between the opening and closing balances of the Company) Tj ET Q q 0 0 0 rg BT 484.26 204.10 Td (s accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 192.10 Td (receivable and contract liabilities results from the timing dif) Tj ET Q q 0 0 0 rg BT 289.24 192.10 Td (ference between the Company) Tj ET Q q 0 0 0 rg BT 413.35 192.10 Td (s performance and the customer) Tj ET Q q 0 0 0 rg BT 541.45 192.10 Td () Tj ET Q q 0 0 0 rg BT 544.23 192.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 180.10 Td (payment. Contracts with payments in arrears are recognized as receivables. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 156.10 Td (The Company has no contract assets recognized from the costs to obtain or fulfill a contract with a customer) Tj ET Q q 0 0 0 rg BT 482.15 156.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 132.10 Td (Practical Expedients & ) Tj ET Q q 0 0 0 rg BT 150.32 132.10 Td (Accounting Policy Elections) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 112.10 Td (Remaining performance obligations - ) Tj ET Q q 0 0 0 rg BT 201.50 112.10 Td (The Company has not disclosed the value of unsatisfied performance obligations for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 100.10 Td (contracts with an original expected length of one year or more as the Company recognized revenue at the amount to which it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 88.10 Td (has the right to invoice for goods delivered or services performed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 68.10 Td (ASC 606 requires that the Company disclose the aggregate amount of transaction price that is allocated to performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (obligations that have not yet been satisfied. However) Tj ET Q q 0 0 0 rg BT 261.26 56.10 Td (, the guidance provides certain practical expedients that limit this ) Tj ET Q endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 33.60 Td (F-15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (requirement, including when variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (wholly unsatisfied promise to transfer a distinct good or service that forms part of a series.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 663.10 Td (As discussed above, the Company allocates the variable consideration in its contracts entirely to each specific performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 651.10 Td (obligation to which it relates. ) Tj ET Q q 0 0 0 rg BT 171.24 651.10 Td (Therefore, any remaining variable consideration in the transaction price is allocated entirely to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 639.10 Td (wholly unsatisfied performance obligations. ) Tj ET Q q 0 0 0 rg BT 230.02 639.10 Td (As such, the Company has not disclosed the value of unsatisfied performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 627.10 Td (obligations pursuant to the practical expedient.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 607.10 Td (Other) Tj ET Q q 0 0 0 rg BT 74.87 607.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.81 607.10 Td (Accounting Standards ) Tj ET Q q 0 0 0 rg BT 174.06 607.10 Td (Adopted in 2018: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.91 607.10 Td (In January 2016, the F) Tj ET Q q 0 0 0 rg BT 338.87 607.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 387.77 607.10 Td (Accounting Standard Update \("ASU"\) No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 595.10 Td (2016-01, "Financial Instruments - Overall \(Subtopic 825-10\): Recognition and Measurement of Financial ) Tj ET Q q 0 0 0 rg BT 473.22 595.10 Td (Assets and Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 583.10 Td (Liabilities," which NACCO adopted on January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 278.65 583.10 Td (The adoption of this guidance resulted in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.93 583.10 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.82 583.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 571.10 Td (reclassification within the Consolidated Balance Sheet and did not have a material ef) Tj ET Q q 0 0 0 rg BT 388.65 571.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 475.02 571.10 Td (s financial position, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 559.10 Td (results of operations, cash flows and related disclosures for further discussion.) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 2.50 0 0 10.09 49.50 544.94 cm /I21 Do Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 535.10 Td (In February 2018, the F) Tj ET Q q 0 0 0 rg BT 143.46 535.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 192.37 535.10 Td (ASU No. 2018-02, "Income StatementReporting Comprehensive Income \(T) Tj ET Q q 0 0 0 rg BT 505.96 535.10 Td (opic 220\): ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 523.10 Td (Reclassification of Certain ) Tj ET Q q 0 0 0 rg BT 158.45 523.10 Td (T) Tj ET Q q 0 0 0 rg BT 163.86 523.10 Td (ax Ef) Tj ET Q q 0 0 0 rg BT 185.06 523.10 Td (fects from ) Tj ET Q q 0 0 0 rg BT 227.82 523.10 Td (Accumulated Other Comprehensive Income," which NACCO adopted on January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 511.10 Td (1, 2018. ) Tj ET Q q 0 0 0 rg BT 84.32 511.10 Td (The adoption of this guidance resulted in a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.61 511.10 Td ($2.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.50 511.10 Td ( reclassification within the Consolidated Balance Sheet and did ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 499.10 Td (not have a material ef) Tj ET Q q 0 0 0 rg BT 135.94 499.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 222.31 499.10 Td (s financial position, results of operations, cash flows and related disclosures. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (Accounting Standards Not ) Tj ET Q q 0 0 0 rg BT 164.98 479.10 Td (Y) Tj ET Q q 0 0 0 rg BT 171.09 479.10 Td (et ) Tj ET Q q 0 0 0 rg BT 180.81 479.10 Td (Adopted: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.31 479.10 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 317.28 479.10 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 366.18 479.10 Td (ASU2016-02, Leases \(T) Tj ET Q q 0 0 0 rg BT 469.90 479.10 Td (opic 842\)," which is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (codified in ) Tj ET Q q 0 0 0 rg BT 94.49 467.10 Td (ASC 842, Leases \(ASC 842\) and supersedes current lease guidance in ) Tj ET Q q 0 0 0 rg BT 385.52 467.10 Td (ASC 840. ) Tj ET Q q 0 0 0 rg BT 429.42 467.10 Td (ASC 842 requires a lessee to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.10 Td (recognize a right-of-use asset \(ROU asset\) and a corresponding lease liability for substantially all leases. ) Tj ET Q q 0 0 0 rg BT 478.62 455.10 Td (The lease liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td (will be equal to the present value of the remaining lease payments while the ROU asset will be similarly calculated and then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.10 Td (adjusted for initial direct costs. In addition, ) Tj ET Q q 0 0 0 rg BT 223.63 431.10 Td (ASC 842 expands the disclosure requirements to increase the transparency and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td (comparability of the amount, timing and uncertainty of cash flows arising from leases. ) Tj ET Q q 0 0 0 rg BT 397.28 419.10 Td (The Company will adopt the new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.10 Td (standard ef) Tj ET Q q 0 0 0 rg BT 93.46 407.10 Td (fective January 1, 2019 using the modified retrospective transition method by recognizing a cumulative ef) Tj ET Q q 0 0 0 rg BT 517.32 407.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.10 Td (adjustment to the opening balance of retained earnings. NACCO will not apply the standard to the comparative periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.10 Td (presented in the year of adoption. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.10 Td (The Company will elect many of the available practical expedients permitted under the guidance, which among other items, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.10 Td (allows the Company to carry forward its historical lease classification and not reassess leases for the definition of lease under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 335.10 Td (the new standard. Upon the adoption of ) Tj ET Q q 0 0 0 rg BT 209.47 335.10 Td (ASC 842, NACCO does not expect to record a ROU asset and related lease liability for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 323.10 Td (leases with an initial term of 12 months or less. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (The Company is still assessing the potential impact that ) Tj ET Q q 0 0 0 rg BT 274.19 299.10 Td (ASC 842 will have on its financial statements and disclosures, but it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (expects the adoption will result in the recognition of a ROU asset and related liability of approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.67 287.10 Td ($13.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.56 287.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (January 1, 2019. ) Tj ET Q q 0 0 0 rg BT 117.92 275.10 Td (The most significant ef) Tj ET Q q 0 0 0 rg BT 210.21 275.10 Td (fect to the Consolidated Balance Sheet relates to the recognition of new ROU assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (and lease liabilities for operating leases of real estate, mining and other equipment. ) Tj ET Q q 0 0 0 rg BT 383.37 263.10 Td (The cumulative ef) Tj ET Q q 0 0 0 rg BT 455.94 263.10 Td (fect adjustment to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (opening balance of retained earnings is not expected to be material. ) Tj ET Q q 0 0 0 rg BT 321.43 251.10 Td (The actual impact may dif) Tj ET Q q 0 0 0 rg BT 426.21 251.10 Td (fer from this estimate, but the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (ASU is not expected to have a material impact on cash flows, liquidity or debt-covenant compliance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 215.10 Td (Reclassifications:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.38 215.10 Td () Tj ET Q q 0 0 0 rg BT 125.33 215.10 Td (As a result of the adoption of new accounting standards, certain amounts in the prior periods) Tj ET Q q 0 0 0 rg BT 497.82 215.10 Td ( Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.10 Td (Financial Statements have been reclassified to conform to the current period's presentation.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (NOTE 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.84 176.10 Td (Other) Tj ET Q q 0 0 0 rg BT 121.21 176.10 Td ( Events and ) Tj ET Q q 0 0 0 rg BT 173.54 176.10 Td (T) Tj ET Q q 0 0 0 rg BT 179.47 176.10 Td (ransactions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.36 176.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 152.10 Td (HBBHC Spin-Off:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.18 152.10 Td (On September 29, 2017, the Company spun-of) Tj ET Q q 0 0 0 rg BT 318.14 152.10 Td (f HBBHC, a former wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 499.97 152.10 Td (. ) Tj ET Q q 0 0 0 rg BT 504.79 152.10 Td (T) Tj ET Q q 0 0 0 rg BT 510.20 152.10 Td (o complete ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (the spin-of) Tj ET Q q 0 0 0 rg BT 92.87 140.10 Td (f, the Company distributedoneshare of HBBHC Class ) Tj ET Q q 0 0 0 rg BT 314.51 140.10 Td (A) Tj ET Q q 0 0 0 rg BT 321.18 140.10 Td ( common stock andoneshare of HBBHC Class B common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (stock to NACCO stockholders for each share of NACCO Class ) Tj ET Q q 0 0 0 rg BT 304.97 128.10 Td (A) Tj ET Q q 0 0 0 rg BT 311.64 128.10 Td ( common stock or Class B common stock owned. ) Tj ET Q q 0 0 0 rg BT 511.99 128.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (Company accounted for the spin-of) Tj ET Q q 0 0 0 rg BT 191.45 116.10 Td (f based on the historical carrying value of HBBHC. On September 28, 2017, prior to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (spin-of) Tj ET Q q 0 0 0 rg BT 78.15 104.10 Td (f, HBBHC paid NACCO a one-time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.63 104.10 Td ($35.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.53 104.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.03 104.10 Td (cash dividend. ) Tj ET Q q 0 0 0 rg BT 342.11 104.10 Td (This payment was in addition to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.20 104.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.09 104.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 92.10 Td (dividends HBBHC paid to NACCO in the first six months of 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.10 Td (In connection with the spin-of) Tj ET Q q 0 0 0 rg BT 170.35 68.10 Td (f of HBBHC, the Company and HBBHC entered into a ) Tj ET Q q 0 0 0 rg BT 393.19 68.10 Td (T) Tj ET Q q 0 0 0 rg BT 398.95 68.10 Td (ransition Services ) Tj ET Q q 0 0 0 rg BT 472.27 68.10 Td (Agreement \("TSA"\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.10 Td (Under the terms of the ) Tj ET Q q 0 0 0 rg BT 142.29 56.10 Td (TSA, the Company provides various services to HBBHC on a transitional basis, as needed, for varying ) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (periods after the spin-of) Tj ET Q q 0 0 0 rg BT 145.62 704.10 Td (f date. ) Tj ET Q q 0 0 0 rg BT 172.55 704.10 Td (As of December 31, 2018 the transition services are materially complete. NACCO received fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 692.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.72 692.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.16 692.10 Td ($0.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.05 692.10 Td ( for the years ended December 31, 2018 and December 31, 2017, respectively) Tj ET Q q 0 0 0 rg BT 488.67 692.10 Td (, recorded as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (reduction to selling, general and administrative expenses related to the transitional services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.10 Td (As a result of the spin-of) Tj ET Q q 0 0 0 rg BT 148.96 656.10 Td (f, the results of operations and cash flows of HBBHC are reflected as discontinued operations through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 644.10 Td (the date of the spin-of) Tj ET Q q 0 0 0 rg BT 137.57 644.10 Td (f in the Consolidated Financial Statements. In connection with the spin-of) Tj ET Q q 0 0 0 rg BT 432.61 644.10 Td (f of HBBHC, NACCO and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.10 Td (Other recognized non-deductible expenses directly attributable to the spin-of) Tj ET Q q 0 0 0 rg BT 356.93 632.10 Td (f of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.59 632.10 Td ($2.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.49 632.10 Td ( during 2017, which are reflected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 620.10 Td (as discontinued operations in the Consolidated Statement of Operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.10 Td (Discontinued operations includes the following results of HBBHC for the year ended December 31, 2017:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 572.60 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 572.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 544.60 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 544.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 516.60 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 516.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 488.60 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 488.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 460.60 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 460.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 433.60 336.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 433.60 57.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 109.00 408.60 336.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 408.60 57.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 544.6 m 502 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 516.6 m 502 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 474.6 m 502 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 446.6 m 502 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 433.6 m 502 433.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 395.6 m 502 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 383.6 m 502 383.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 381.6 m 502 381.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.50 576.33 Td (HBBHC Operating Statement Data:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 563.17 Td ( Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 563.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 563.17 Td (474,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 549.17 Td ( Cost of goods sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 549.17 Td (353,436) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 535.17 Td ( Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 535.17 Td (121,535) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 521.17 Td ( Operating expenses ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 200.08 525.70 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 521.17 Td (1) Tj ET Q q 0 0 0 rg BT 470.65 521.17 Td (14,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 507.17 Td ( Operating profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 507.17 Td (7,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 493.17 Td ( Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 493.17 Td (1,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 479.17 Td ( Other expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 479.22 Td (\(939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 479.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 465.17 Td ( Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 465.17 Td (6,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 451.17 Td ( Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 451.17 Td (2,655) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.50 437.33 Td (HBBHC net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 437.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 437.17 Td (4,140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.50 412.33 Td (NACCO expenses r) Tj ET Q q 0 0 0 rg BT 194.73 412.33 Td (elated to the spin-off) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 412.17 Td (2,759) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.50 399.33 Td (NACCO discontinued operations income tax expense \(benefit\) adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.80 399.22 Td (\(493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.15 399.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.50 386.33 Td (NACCO discontinued operations, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 386.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 386.17 Td (1,874) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 86.00 363.10 Td (HBBHC's operating profit includes the recognition of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.04 363.10 Td ($2.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.93 363.10 Td ( of expenses related to the spin-of) Tj ET Q q 0 0 0 rg BT 486.71 363.10 Td (f in 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 341.10 Td (NOTE 4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.84 341.10 Td (Inventories) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 144.17 341.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.10 Td (Inventories are summarized as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 280.60 368.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 280.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 280.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 280.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 254.60 368.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 254.60 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 254.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 254.60 70.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 293.6 m 488.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 293.6 m 492.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 293.6 m 562.5 293.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 280.6 m 488.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 280.6 m 562.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 280.6 m 488.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 254.60000000000002 m 488.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 254.60000000000002 m 562.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 254.60000000000002 m 488.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 242.60000000000002 m 488.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 240.60000000000002 m 488.5 240.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 254.60000000000002 m 562.5 254.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 242.60000000000002 m 562.5 242.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 240.60000000000002 m 562.5 240.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 297.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.55 297.85 Td (December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 284.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 284.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 284.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 271.17 Td (Coal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 271.33 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 271.33 Td (1) Tj ET Q q 0 0 0 rg BT 462.15 271.33 Td (1,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 271.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 271.17 Td (13,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 258.17 Td (Mining supplies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 258.33 Td (20,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 258.17 Td (16,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 245.17 Td (T) Tj ET Q q 0 0 0 rg BT 82.41 245.17 Td (otal inventories) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 245.33 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 245.33 Td (31,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 245.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 245.17 Td (30,015) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 704.25 Td (NOTE 5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.84 704.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 106.21 704.25 Td (operty) Tj ET Q q 0 0 0 rg BT 133.42 704.25 Td (, Plant and Equipment, Net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.11 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.25 Td (Property) Tj ET Q q 0 0 0 rg BT 83.79 680.25 Td (, plant and equipment, net includes the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 643.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 643.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 643.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 643.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 613.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 613.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 613.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 613.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 583.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 583.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 583.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 583.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 553.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 553.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 553.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 553.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 523.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 523.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 523.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 523.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 493.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 493.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 493.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 493.75 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 656.75 m 488.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 656.75 m 492.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 656.75 m 562.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 643.75 m 488.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 643.75 m 562.5 643.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 598.75 m 488.5 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 598.75 m 562.5 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 583.75 m 488.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 583.75 m 562.5 583.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 538.75 m 488.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 538.75 m 562.5 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 523.75 m 488.5 523.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 523.75 m 562.5 523.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 493.75 m 488.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 493.75 m 562.5 493.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 479.75 m 488.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 477.75 m 488.5 477.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 479.75 m 562.5 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 477.75 m 562.5 477.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 661.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 467.75 660.98 Td (December) Tj ET Q q 0 0 0 rg BT 502.32 660.98 Td ( 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 648.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 647.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 648.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 633.42 Td (Coal lands and real estate:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 633.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 633.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 618.42 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 618.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 618.43 Td (56,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 618.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 618.42 Td (53,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 603.42 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 603.43 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 603.42 Td (469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 588.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 588.43 Td (56,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 588.42 Td (54,045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 573.42 Td (Plant and equipment:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 573.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 573.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 558.42 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 558.43 Td (160,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 558.42 Td (151,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 543.42 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 543.43 Td (2,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 543.42 Td (2,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 528.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 528.43 Td (163,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 528.42 Td (153,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 513.42 Td (Property) Tj ET Q q 0 0 0 rg BT 87.11 513.42 Td (, plant and equipment, at cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 513.43 Td (220,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 513.42 Td (207,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 498.42 Td (Less allowances for depreciation, depletion and amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 498.43 Td (95,726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 498.42 Td (87,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 483.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 483.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 483.43 Td (124,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 483.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 483.42 Td (120,068) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 458.25 Td (otal depreciation, depletion and amortization expense on property) Tj ET Q q 0 0 0 rg BT 317.45 458.25 Td (, plant and equipment was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.64 458.25 Td ($1) Tj ET Q q 0 0 0 rg BT 434.27 458.25 Td (1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.16 458.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.60 458.25 Td ($10.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.49 458.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 446.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.61 446.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.61 446.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.05 446.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.05 446.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 190.71 446.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 413.25 Td (NOTE 6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.84 413.25 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 141.69 413.25 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.35 413.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 392.25 Td (Intangible assets other than goodwill, which are subject to amortization, consist of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 352.75 238.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 352.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 352.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 352.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 352.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 352.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 325.75 238.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 325.75 70.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 325.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 325.75 70.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 325.75 4.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 325.75 70.00 -7.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 304.75 238.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.50 304.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.50 304.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 304.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 304.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.50 304.75 70.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 352.75 m 385.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 352.75 m 459.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 352.75 m 533.5 352.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 326.75 m 385.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 324.75 m 385.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 326.75 m 459.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 324.75 m 459.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 326.75 m 533.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 324.75 m 533.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 291.75 m 385.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315.5 289.75 m 385.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 291.75 m 459.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 289.75 m 459.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 291.75 m 533.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.5 289.75 m 533.5 289.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 80.00 357.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 323.25 364.83 Td (Gr) Tj ET Q q 0 0 0 rg BT 332.88 364.83 Td (oss Carrying ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 335.95 356.83 Td (Amount) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.30 364.83 Td (Accumulated ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 401.10 356.83 Td (Amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 492.00 364.83 Td (Net ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.40 356.83 Td (Balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.00 343.43 Td (Balance at December) Tj ET Q q 0 0 0 rg BT 170.34 343.43 Td ( 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 343.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 343.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 343.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.00 329.48 Td (Coal supply agr) Tj ET Q q 0 0 0 rg BT 159.61 329.48 Td (eement) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.00 329.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.15 329.48 Td (84,200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.00 329.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.80 329.53 Td (\(43,684) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.65 329.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.00 329.48 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 329.48 Td (40,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 309.32 Td (Balance at December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 309.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 309.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 309.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.00 295.32 Td (Coal supply agreement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.15 295.32 Td (84,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.80 295.37 Td (\(40,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.65 295.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 295.32 Td (43,554) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.25 Td (Amortization expense for intangible assets was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.06 263.25 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.95 263.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.39 263.25 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.28 263.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.06 263.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.06 263.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.50 263.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 263.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 483.16 263.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 242.25 Td (Expected annual amortization expense of NACoal's coal supply agreement for the next five years is as follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.94 242.25 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.83 242.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 230.25 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 230.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 230.25 Td ($3.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.33 230.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.11 230.25 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.11 230.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.11 230.25 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.11 230.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.11 230.25 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.11 230.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.55 230.25 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.55 230.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 313.21 230.25 Td (. ) Tj ET Q q 0 0 0 rg BT 318.03 230.25 Td (The coal supply agreement is amortized based on units of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 218.25 Td (production over the term of the agreement, which is estimated to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.97 218.25 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.97 218.25 Td (years. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 197.25 Td (NOTE 7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.84 197.25 Td (Asset Retir) Tj ET Q q 0 0 0 rg BT 143.14 197.25 Td (ement Obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.20 197.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 173.25 Td (NACoal's asset retirement obligations are principally for costs to close its surface mines and reclaim the land it has disturbed as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 161.25 Td (a result of its normal mining activities as well as for costs to dismantle certain mining equipment at the end of the life of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.25 Td (mine. ) Tj ET Q q 0 0 0 rg BT 74.81 149.25 Td (The Company determined the amounts of these obligations based on cost estimates, adjusted for inflation, projected to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.25 Td (the estimated closure dates, and then discounted using a credit-adjusted risk-free interest rate. ) Tj ET Q q 0 0 0 rg BT 426.07 137.25 Td (The accretion of the liability is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.25 Td (being recognized over the estimated life of each individual asset retirement obligation and is recorded in the line Cost of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.25 Td (sales in the accompanying Consolidated Statements of Operations. ) Tj ET Q q 0 0 0 rg BT 323.36 113.25 Td (The associated asset is recorded in Property) Tj ET Q q 0 0 0 rg BT 502.09 113.25 Td (, Plant and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.25 Td (Equipment, net in the accompanying Consolidated Balance Sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.25 Td (Bellaire Corporation \(Bellaire\) is a non-operating subsidiary of the Company with legacy liabilities relating to closed mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 65.25 Td (operations, primarily former Eastern U.S. under) Tj ET Q q 0 0 0 rg BT 241.43 65.25 Td (ground coal mining operations. ) Tj ET Q q 0 0 0 rg BT 368.73 65.25 Td (These legacy liabilities include obligations for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 53.25 Td (water treatment and other environmental remediation that arose as part of the normal course of closing these under) Tj ET Q q 0 0 0 rg BT 508.26 53.25 Td (ground ) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (mining operations. ) Tj ET Q q 0 0 0 rg BT 127.31 704.10 Td (The Company determined the amounts of these obligations based on cost estimates, adjusted for inflation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (and then discounted the amounts using a credit-adjusted risk-free interest rate. ) Tj ET Q q 0 0 0 rg BT 364.72 692.10 Td (The accretion of the liability is recognized over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (the estimated life of the asset retirement obligation and is recorded in the line Closed mine obligations in the accompanying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.10 Td (Consolidated Statements of Operations. Since Bellaire's properties are no longer active operations, no associated asset has been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.10 Td (capitalized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 635.10 Td ( reconciliation of the Company's beginning and ending aggregate carrying amount of the asset retirement obligations are as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 591.60 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 591.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 591.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 563.60 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 563.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 563.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 535.60 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 535.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 535.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 507.60 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 507.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 507.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 479.60 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 479.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 479.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 451.60 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 451.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 451.60 60.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 591.6 m 561.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 591.6 m 561.5 591.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 521.6 m 561.5 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 507.6 m 561.5 507.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 451.6 m 561.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 451.6 m 561.5 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 438.6 m 561.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 436.6 m 561.5 436.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 595.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.95 603.85 Td (NACCO ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.85 595.85 Td (Consolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 582.17 Td (Balance at January 1, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 582.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 582.17 Td (42,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 568.17 Td (Liabilities incurred during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 568.17 Td (277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 554.17 Td (Liabilities settled during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 554.22 Td (\(2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 554.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 540.17 Td (Accretion expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 540.17 Td (2,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 526.17 Td (Revision of estimated cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 526.22 Td (\(2,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 526.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 512.17 Td (Balance at December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 512.17 Td (40,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 498.17 Td (Liabilities incurred during the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 498.28 Td (189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 484.17 Td (Liabilities settled during the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 484.33 Td (\(1,667) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 484.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 470.17 Td (Accretion expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.15 470.28 Td (2,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 456.17 Td (Revision of estimated cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 456.33 Td (\(3,495) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.65 456.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 442.28 Td (Balance at December) Tj ET Q q 0 0 0 rg BT 143.34 442.28 Td (31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.00 442.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.15 442.28 Td (37,703) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.10 Td (Asset retirement obligations totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.97 417.10 Td ($37.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.86 417.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.07 417.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.66 417.10 Td (, of which, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.93 417.10 Td ($1.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.82 417.10 Td ( is included in current liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 405.10 Td (on the line "Asset retirement obligations" and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.07 405.10 Td ($35.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.96 405.10 Td ( in long-term liabilities on the line "Asset retirement obligations" in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.10 Td (the Consolidated Balance Sheets. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (Prior to 2017, Bellaire established a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.80 366.10 Td ($5.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.69 366.10 Td ( Mine ) Tj ET Q q 0 0 0 rg BT 270.62 366.10 Td (W) Tj ET Q q 0 0 0 rg BT 279.26 366.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 296.56 366.10 Td (T) Tj ET Q q 0 0 0 rg BT 302.32 366.10 Td (reatment ) Tj ET Q q 0 0 0 rg BT 339.62 366.10 Td (T) Tj ET Q q 0 0 0 rg BT 345.38 366.10 Td (rust to provide a financial assurance mechanism in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (order to assure the long-term treatment of post-mining dischar) Tj ET Q q 0 0 0 rg BT 298.64 354.10 Td (ges. ) Tj ET Q q 0 0 0 rg BT 316.79 354.10 Td (The fair value of the Mine ) Tj ET Q q 0 0 0 rg BT 424.34 354.10 Td (W) Tj ET Q q 0 0 0 rg BT 432.98 354.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 450.28 354.10 Td (T) Tj ET Q q 0 0 0 rg BT 456.04 354.10 Td (reatment assets, which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (recognized as a component of "Other Non-Current ) Tj ET Q q 0 0 0 rg BT 254.29 342.10 Td (Assets" on the Consolidated Balance Sheets, are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 342.10 Td ($8.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.89 342.10 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 330.10 Td ( and are legally restricted for purposes of settling the Bellaire asset retirement obligation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.08 330.10 Td (See Note 9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.95 330.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (further discussion of fair value measurements. ) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 704.25 Td (NOTE 8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.84 704.25 Td (Curr) Tj ET Q q 0 0 0 rg BT 117.32 704.25 Td (ent and Long-T) Tj ET Q q 0 0 0 rg BT 183.09 704.25 Td (erm Financing) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.58 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.25 Td (Financing arrangements are obtained and maintained at the subsidiary level. NACCO has not guaranteed any borrowings of its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.25 Td (subsidiaries.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.25 Td (The following table summarizes the Company's available and outstanding borrowings:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 612.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 612.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 612.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 612.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 588.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 588.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 588.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 564.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 564.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 564.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 564.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 538.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 538.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 538.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 538.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 514.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 514.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 514.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 514.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 490.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 490.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 490.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 466.75 368.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 466.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 466.75 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 466.75 70.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 624.75 m 488.5 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 624.75 m 492.5 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 624.75 m 562.5 624.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 612.75 m 488.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 612.75 m 562.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 576.75 m 488.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 565.75 m 488.5 565.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 563.75 m 488.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 576.75 m 562.5 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 565.75 m 562.5 565.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 563.75 m 562.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 563.75 m 488.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 565.75 m 488.5 565.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 526.75 m 488.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 526.75 m 562.5 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 515.75 m 488.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 513.75 m 488.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 515.75 m 562.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 513.75 m 562.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 513.75 m 488.5 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 515.75 m 488.5 515.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 491.75 m 562.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 489.75 m 562.5 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 489.75 m 488.5 489.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 491.75 m 488.5 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 467.75 m 562.5 467.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 465.75 m 562.5 465.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 465.75 m 488.5 465.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 467.75 m 488.5 467.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 628.70 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.55 628.70 Td (December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 616.70 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 616.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 616.70 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 604.01 Td (T) Tj ET Q q 0 0 0 rg BT 57.87 604.01 Td (otal outstanding borrowings of NACoal:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.00 604.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 604.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 592.01 Td (Revolving credit agreement) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 592.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.75 592.15 Td (4,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 592.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 592.01 Td (50,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 580.01 Td (Capital lease obligations and other term loans) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.75 580.15 Td (7,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.25 580.01 Td (8,146) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 83.00 568.01 Td (T) Tj ET Q q 0 0 0 rg BT 87.87 568.01 Td (otal debt outstanding) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 568.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.25 568.15 Td (1) Tj ET Q q 0 0 0 rg BT 458.75 568.15 Td (1,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 568.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 568.01 Td (58,146) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 544.01 Td (Current portion of borrowings outstanding) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 543.20 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.75 543.20 Td (4,654) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 543.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 543.21 Td (16,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 530.01 Td (Long-term portion of borrowings outstanding) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 458.75 530.15 Td (6,367) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 530.01 Td (42,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 518.01 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 518.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.25 518.15 Td (1) Tj ET Q q 0 0 0 rg BT 458.75 518.15 Td (1,021) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 518.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 518.01 Td (58,146) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.00 506.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 506.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 494.01 Td (T) Tj ET Q q 0 0 0 rg BT 70.18 494.01 Td (otal available borrowings, net of limitations, under revolving credit agreement) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 494.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.75 494.15 Td (148,481) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 494.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 525.25 494.01 Td (148,591) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.00 482.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 482.01 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 470.01 Td (Unused revolving credit agreement) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 470.15 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 449.75 470.15 Td (144,481) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.00 470.01 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.75 470.01 Td (98,591) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 65.00 446.01 Td (W) Tj ET Q q 0 0 0 rg BT 72.77 446.01 Td (eighted average stated interest rate on total borrowings) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.75 446.15 Td (4.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 479.00 446.15 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 543.25 446.01 Td (3.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 554.50 446.01 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 422.25 Td (Annual maturities of total debt, excluding capital leases, are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 411.75 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 411.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 381.75 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 381.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 351.75 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 351.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 321.75 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 321.75 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 321.75 m 562.5 321.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 307.75 m 562.5 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 305.75 m 562.5 305.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 401.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 401.42 Td (4,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 386.42 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 386.42 Td (237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 371.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 371.42 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 356.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 356.42 Td (263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 341.42 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 341.42 Td (277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.42 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 326.42 Td (5,319) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 311.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 311.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 311.42 Td (10,571) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (Interest paid on total debt was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.74 286.25 Td ($2.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.64 286.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.07 286.25 Td ($3.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.97 286.25 Td ( during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.07 286.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.07 286.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.51 286.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.51 286.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 433.17 286.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 265.25 Td (NACoal:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.77 265.25 Td ( NACoal has an unsecured revolving line of credit of up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.93 265.25 Td ($150.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.82 265.25 Td ( \(the NACoal Facility\) that expires in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (August 2022. Borrowings outstanding under the NACoal Facility were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.07 253.25 Td ($4.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.97 253.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.18 253.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.77 253.25 Td (. ) Tj ET Q q 0 0 0 rg BT 480.21 253.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.71 253.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 241.25 Td (, the excess availability under the NACoal Facility was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.72 241.25 Td ($144.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.61 241.25 Td (, which reflects a reduction for outstanding letters of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.25 Td (credit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.09 229.25 Td ($1.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.99 229.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td (The NACoal Facility has performance-based pricing, which sets interest rates based upon NACoal achieving various levels of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.25 Td (debt to EBITDA) Tj ET Q q 0 0 0 rg BT 116.10 193.25 Td ( ratios, as defined in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 279.86 193.25 Td (. Borrowings bear interest at a floating rate plus a mar) Tj ET Q q 0 0 0 rg BT 495.44 193.25 Td (gin based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (level of debt to EBITDA) Tj ET Q q 0 0 0 rg BT 148.87 181.25 Td ( ratio achieved. ) Tj ET Q q 0 0 0 rg BT 212.54 181.25 Td (The applicable mar) Tj ET Q q 0 0 0 rg BT 289.55 181.25 Td (gins, ef) Tj ET Q q 0 0 0 rg BT 318.80 181.25 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.51 181.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.09 181.25 Td (, for base rate and LIBOR loans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.93 169.25 Td (0.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.76 169.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.20 169.25 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.03 169.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 195.69 169.25 Td (. ) Tj ET Q q 0 0 0 rg BT 200.51 169.25 Td (The NACoal Facility has a commitment fee which is based upon achieving various levels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (of debt to EBITDA) Tj ET Q q 0 0 0 rg BT 126.93 157.25 Td ( ratios. ) Tj ET Q q 0 0 0 rg BT 156.47 157.25 Td (The commitment fee was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.32 157.25 Td (0.30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 157.25 Td ( on the unused commitment at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.46 157.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.05 157.25 Td (. ) Tj ET Q q 0 0 0 rg BT 495.37 157.25 Td (The weighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (average interest rate applicable to the NACoal Facility at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.19 145.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.77 145.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.32 145.25 Td (4.28%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 145.25 Td ( including the floating rate mar) Tj ET Q q 0 0 0 rg BT 529.10 145.25 Td (gin.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.05 Td (The NACoal Facility contains restrictive covenants, which require, among other things, NACoal to maintain a maximum debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.05 Td (to EBITDA) Tj ET Q q 0 0 0 rg BT 96.39 108.05 Td ( ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.54 108.05 Td (3.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.04 108.05 Td ( to 1.00 and an interest coverage ratio of not less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.37 108.05 Td (4.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.87 108.05 Td ( to 1.00. ) Tj ET Q q 0 0 0 rg BT 416.96 108.05 Td (The NACoal Facility provides the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.05 Td (ability to make loans, dividends and advances to NACCO, with some restrictions based on maintaining a maximum debt to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.05 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 86.11 84.05 Td ( ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.26 84.05 Td (2.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.76 84.05 Td ( to 1.00, or if greater than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.45 84.05 Td (2.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.95 84.05 Td ( to 1.00, a Fixed Char) Tj ET Q q 0 0 0 rg BT 346.70 84.05 Td (ge Coverage Ratio of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.45 84.05 Td (1.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.95 84.05 Td ( to 1.00, in conjunction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.05 Td (with maintaining unused availability thresholds of borrowing capacity) Tj ET Q q 0 0 0 rg BT 330.12 72.05 Td (, as defined in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 469.17 72.05 Td (, of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 72.05 Td ($15.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.89 72.05 Td (. ) Tj ET Q q 0 0 0 rg BT 543.33 72.05 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.05 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 60.05 Td (, NACoal was in compliance with all financial covenants in the NACoal Facility) Tj ET Q q 0 0 0 rg BT 449.80 60.05 Td (.) Tj ET Q endstream endobj 143 0 obj <> endobj 144 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (NACoal has a ten year note payable that is secured by two specified units of equipment and bears interest at a fixed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.29 704.10 Td (5.29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.12 704.10 Td ( rate. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (This note includes a principal payment of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.56 692.10 Td ($4.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.46 692.10 Td ( at the end of the term on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.20 692.10 Td (December15, 2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.78 692.10 Td (. ) Tj ET Q q 0 0 0 rg BT 453.23 692.10 Td (At) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.73 692.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.32 692.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 680.10 Td (, the outstanding balance of the note was) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.23 680.10 Td ($6.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.12 680.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.56 680.10 Td ($6.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.45 680.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 402.61 680.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (NOTE 9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.34 656.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 113.48 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.80 656.10 Td (V) Tj ET Q q 0 0 0 rg BT 122.11 656.10 Td (alue Disclosur) Tj ET Q q 0 0 0 rg BT 182.21 656.10 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.64 656.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 632.10 Td (Recurring Fair) Tj ET Q q 0 0 0 rg BT 114.02 632.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.34 632.10 Td (V) Tj ET Q q 0 0 0 rg BT 122.64 632.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 175.51 632.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.50 632.10 Td (: ) Tj ET Q q 0 0 0 rg BT 210.60 632.10 Td (The following table presents the Company's assets and liabilities accounted for at fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.10 Td (value on a recurring basis:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 544.60 166.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 544.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 544.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 544.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 544.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 544.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 544.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 544.60 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 544.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 514.60 166.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 514.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 514.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 514.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 514.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 514.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 514.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 514.60 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 514.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 596.6 m 401 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 596.6 m 409 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 596.6 m 485 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 596.6 m 492 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 596.6 m 552 596.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 59 544.6 m 225 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 544.6 m 315 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 544.6 m 401 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 544.6 m 485 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 544.6 m 552 544.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 514.6 m 315 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 500.6 m 315 500.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 498.6 m 315 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 514.6 m 401 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 500.6 m 401 500.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 498.6 m 401 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 514.6 m 485 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 500.6 m 485 500.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 498.6 m 485 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 514.6 m 552 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 500.6 m 552 500.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 498.6 m 552 498.6 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.10 600.86 Td (Fair ) Tj ET Q q 0 0 0 rg BT 362.77 600.86 Td (V) Tj ET Q q 0 0 0 rg BT 368.69 600.86 Td (alue Measurements at Reporting Date Using) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.50 587.86 Td (Quoted Prices in) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.75 587.86 Td (Significant) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.25 574.86 Td (Active Markets for) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.35 574.86 Td (Significant Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 574.86 Td (Unobservable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.10 561.86 Td (Identical ) Tj ET Q q 0 0 0 rg BT 366.58 561.86 Td (Assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.60 561.86 Td (Observable Inputs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.25 561.86 Td (Inputs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 120.50 548.86 Td (Description) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.60 548.86 Td (December 31, 2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.85 548.86 Td (\(Level 1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.85 548.86 Td (\(Level 2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.85 548.86 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 534.27 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 519.27 Td (Equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 519.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.65 519.28 Td (8,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 519.27 Td (8,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 519.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 519.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 519.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 504.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.65 504.28 Td (8,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 504.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 504.27 Td (8,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 504.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 504.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 504.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 504.27 Td () Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 412.60 166.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 412.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 412.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 412.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 412.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 412.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 412.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 412.60 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 412.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 59.00 382.60 166.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.00 382.60 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 382.60 81.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 382.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 382.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 382.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 382.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 382.60 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 382.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 464.6 m 401 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 464.6 m 409 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 464.6 m 485 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 464.6 m 492 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 464.6 m 552 464.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 59 412.6 m 225 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 412.6 m 315 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 412.6 m 401 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 412.6 m 485 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 412.6 m 552 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 59 412.6 m 225 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 412.6 m 315 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 412.6 m 401 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 412.6 m 485 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 412.6 m 552 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 382.6 m 315 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 368.6 m 315 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 366.6 m 315 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 382.6 m 401 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 368.6 m 401 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 366.6 m 401 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 382.6 m 485 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 368.6 m 485 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 366.6 m 485 366.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 382.6 m 552 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 368.6 m 552 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 366.6 m 552 366.6 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.10 468.86 Td (Fair ) Tj ET Q q 0 0 0 rg BT 362.77 468.86 Td (V) Tj ET Q q 0 0 0 rg BT 368.69 468.86 Td (alue Measurements at Reporting Date Using) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.50 455.86 Td (Quoted Prices in) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 501.75 455.86 Td (Significant) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.25 442.86 Td (Active Markets for) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 415.35 442.86 Td (Significant Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.50 442.86 Td (Unobservable) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 333.10 429.86 Td (Identical ) Tj ET Q q 0 0 0 rg BT 366.58 429.86 Td (Assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 413.60 429.86 Td (Observable Inputs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.25 429.86 Td (Inputs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 120.50 416.86 Td (Description) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.60 416.86 Td (December 31, 2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 344.85 416.86 Td (\(Level 1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 429.85 416.86 Td (\(Level 2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.85 416.86 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 402.27 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 387.27 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.65 387.27 Td (9,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 387.27 Td (9,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 387.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 387.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.50 372.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.65 372.27 Td (9,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 372.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 372.27 Td (9,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 372.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 372.27 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 344.10 Td (Bellaire's Mine ) Tj ET Q q 0 0 0 rg BT 112.77 344.10 Td (W) Tj ET Q q 0 0 0 rg BT 121.41 344.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 138.71 344.10 Td (T) Tj ET Q q 0 0 0 rg BT 144.47 344.10 Td (reatment ) Tj ET Q q 0 0 0 rg BT 181.77 344.10 Td (T) Tj ET Q q 0 0 0 rg BT 187.53 344.10 Td (rust invests in available for sale securities that are reported at fair value based upon quoted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (market prices in active markets for identical assets; therefore, they are classified as Level 1 within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 536.42 332.10 Td (. On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (January 1, 2018, the Mine ) Tj ET Q q 0 0 0 rg BT 156.24 320.10 Td (W) Tj ET Q q 0 0 0 rg BT 164.88 320.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 182.19 320.10 Td (T) Tj ET Q q 0 0 0 rg BT 187.94 320.10 Td (reatment ) Tj ET Q q 0 0 0 rg BT 225.24 320.10 Td (T) Tj ET Q q 0 0 0 rg BT 231.00 320.10 Td (rust's unrealized gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.88 320.10 Td ($2.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.77 320.10 Td ( was reclassified within the Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (Balance Sheet upon adoption of ) Tj ET Q q 0 0 0 rg BT 179.19 308.10 Td (ASU No. 2016-01. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.25 308.10 Td (See Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.13 308.10 Td ( for further information. ) Tj ET Q q 0 0 0 rg BT 399.52 308.10 Td (The Mine ) Tj ET Q q 0 0 0 rg BT 441.00 308.10 Td (W) Tj ET Q q 0 0 0 rg BT 449.64 308.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 466.94 308.10 Td (T) Tj ET Q q 0 0 0 rg BT 472.70 308.10 Td (reatment ) Tj ET Q q 0 0 0 rg BT 510.00 308.10 Td (T) Tj ET Q q 0 0 0 rg BT 515.75 308.10 Td (rust ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (realized a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.47 296.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.36 296.10 Td ( in the year ended December 31, 2018 reported on the line "Other) Tj ET Q q 0 0 0 rg BT 430.00 296.10 Td (, net, including interest income" ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (in the "Other expense \(income\)" section of the Consolidated Statements of Operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.96 284.10 Td (See Note 7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.84 284.10 Td ( for further discussion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.10 Td (Bellaire's Mine ) Tj ET Q q 0 0 0 rg BT 112.77 272.10 Td (W) Tj ET Q q 0 0 0 rg BT 121.41 272.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 138.71 272.10 Td (T) Tj ET Q q 0 0 0 rg BT 144.47 272.10 Td (reatment ) Tj ET Q q 0 0 0 rg BT 181.77 272.10 Td (T) Tj ET Q q 0 0 0 rg BT 187.53 272.10 Td (rust.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (There were no transfers into or out of Levels 1, 2 or 3 during the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.06 248.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 248.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (Nonr) Tj ET Q q 0 0 0 rg BT 71.54 224.10 Td (ecurring Fair) Tj ET Q q 0 0 0 rg BT 128.84 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.16 224.10 Td (V) Tj ET Q q 0 0 0 rg BT 137.46 224.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 190.33 224.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.32 224.10 Td (: Centennial ceased coal production at the end of 2015. NACoal recognized an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 115.13 212.10 Td (ge of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.89 212.10 Td ($1.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.79 212.10 Td ( during 2017 to reduce the value of Centennial's remaining equipment to zero. ) Tj ET Q q 0 0 0 rg BT 501.09 212.10 Td (The asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (impairment char) Tj ET Q q 0 0 0 rg BT 115.13 200.10 Td (ge was recorded as "Centennial asset impairment char) Tj ET Q q 0 0 0 rg BT 330.89 200.10 Td (ge" in the Consolidated Statements of Operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (Other) Tj ET Q q 0 0 0 rg BT 74.87 176.10 Td ( Fair) Tj ET Q q 0 0 0 rg BT 95.51 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.83 176.10 Td (V) Tj ET Q q 0 0 0 rg BT 104.13 176.10 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 157.00 176.10 Td (ement Disclosur) Tj ET Q q 0 0 0 rg BT 225.42 176.10 Td (es: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.58 176.10 Td (The carrying amounts of cash and cash equivalents, accounts receivable and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (accounts payable approximate fair value due to the short-term maturities of these instruments. ) Tj ET Q q 0 0 0 rg BT 427.53 164.10 Td (The fair values of revolving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (credit agreements and long-term debt, excluding capital leases, were determined using current rates of) Tj ET Q q 0 0 0 rg BT 457.77 152.10 Td (fered for similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (obligations taking into account subsidiary credit risk, which is Level 2 as defined in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 479.28 140.10 Td (. ) Tj ET Q q 0 0 0 rg BT 484.10 140.10 Td (The fair value and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (the book value of revolving credit agreements and long-term debt, excluding capital leases, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.92 128.10 Td ($10.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.82 128.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.25 128.10 Td ($10.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 116.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.05 116.10 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.77 116.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.35 116.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.79 116.10 Td ($56.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.68 116.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.12 116.10 Td ($56.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.01 116.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 423.67 116.10 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.39 116.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.98 116.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.10 Td (Financial instruments that potentially subject the Company to concentration of credit risk consist principally of accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 83.10 Td (receivable. Under its mining contracts, NACoal recognizes revenue and a related receivable as coal or limestone is delivered. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.10 Td (These mining contracts provide for monthly settlements. NACoal's significant credit concentration is uncollateralized; however) Tj ET Q q 0 0 0 rg BT 559.08 71.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.10 Td (historically minimal credit losses have been incurred. ) Tj ET Q q 0 0 0 rg BT 265.36 59.10 Td (T) Tj ET Q q 0 0 0 rg BT 270.77 59.10 Td (o further reduce credit risk associated with accounts receivable, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 47.10 Td (Company performs periodic credit evaluations of its customers, but does not generally require advance payments or collateral. ) Tj ET Q endstream endobj 145 0 obj <> endobj 146 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 704.25 Td (NOTE 10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 704.25 Td (Leasing ) Tj ET Q q 0 0 0 rg BT 136.13 704.25 Td (Arrangements) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.25 Td (The Company leases certain of) Tj ET Q q 0 0 0 rg BT 173.66 680.25 Td (fices, warehouse facilities, mining and other equipment under noncancellable capital and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.25 Td (operating leases that expire at various dates through 2031. Many leases include renewal and/or fair value purchase options.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.25 Td (Future minimum capital and operating lease payments at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.38 647.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.96 647.25 Td ( are:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 615.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 615.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 615.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 615.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 587.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 587.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 587.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 587.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 559.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 559.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 559.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 559.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 531.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 531.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 531.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 531.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 503.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 503.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 503.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 475.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 475.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 475.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 475.75 70.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 615.75 m 488.5 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 615.75 m 562.5 615.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 531.75 m 562.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 531.75 m 488.5 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 518.75 m 562.5 518.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 516.75 m 562.5 516.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 503.75 m 488.5 503.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 475.75 m 488.5 475.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 462.75 m 488.5 462.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 460.75 m 488.5 460.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 620.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.40 628.00 Td (Capital ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.10 620.00 Td (Leases) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.00 628.00 Td (Operating ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.10 620.00 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 606.32 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 606.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 606.32 Td (437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 606.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 606.32 Td (2,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.32 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 592.32 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 592.32 Td (2,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.32 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 578.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 578.32 Td (2,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 564.32 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 564.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 564.32 Td (2,1) Tj ET Q q 0 0 0 rg BT 548.65 564.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 550.32 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 550.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 550.32 Td (1,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 536.32 Td (Subsequent to 2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 536.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 536.32 Td (10,959) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.32 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 522.32 Td (otal minimum lease payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 522.32 Td (458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 522.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 522.32 Td (21,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 508.32 Td (Amounts representing interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 508.32 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 508.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 494.32 Td (Present value of net minimum lease payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 494.32 Td (450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 494.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 480.32 Td (Current maturities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 480.32 Td (429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 480.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 466.32 Td (Long-term capital lease obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 466.32 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 466.32 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.25 Td (Rental expense for all operating leases was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.66 441.25 Td ($3.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.55 441.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.99 441.25 Td ($4.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.88 441.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.66 441.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.66 441.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.10 441.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.10 441.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 466.76 441.25 Td (. ) Tj ET Q q 0 0 0 rg BT 471.58 441.25 Td (The Company also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.25 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.36 429.25 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.25 429.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.69 429.25 Td ($0.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.58 429.25 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.36 429.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.36 429.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.80 429.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.80 429.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 338.46 429.25 Td (, for rental income on subleases of equipment under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.25 Td (operating leases in which it was the lessee. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 393.25 Td (Assets recorded under capital leases are included in property) Tj ET Q q 0 0 0 rg BT 292.03 393.25 Td (, plant and equipment and consist of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 356.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 356.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 356.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 356.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 326.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 326.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 326.75 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 369.75 m 488.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 369.75 m 492.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 369.75 m 562.5 369.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 356.75 m 488.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 356.75 m 562.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 356.75 m 562.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 326.75 m 488.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 326.75 m 562.5 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 312.75 m 488.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 310.75 m 488.5 310.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 312.75 m 562.5 312.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 310.75 m 562.5 310.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 374.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.55 374.00 Td (December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 361.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 360.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 361.00 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.42 Td (Plant and equipment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 346.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 346.43 Td (3,085) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 346.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 346.42 Td (4,807) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 331.42 Td (Less accumulated depreciation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 331.43 Td (2,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 331.42 Td (3,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 316.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 316.43 Td (404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 316.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 316.42 Td (1,077) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.25 Td (Depreciation of plant and equipment under capital leases is included in depreciation expense in each of the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 279.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 279.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 279.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.02 279.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 255.25 Td (NOTE 1) Tj ET Q q 0 0 0 rg BT 84.79 255.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 99.79 255.25 Td (Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.79 255.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 231.25 Td (V) Tj ET Q q 0 0 0 rg BT 55.61 231.25 Td (arious legal and regulatory proceedings and claims have been or may be asserted against NACCO and certain subsidiaries ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 219.25 Td (relating to the conduct of their businesses. ) Tj ET Q q 0 0 0 rg BT 220.39 219.25 Td (These proceedings and claims are incidental to the ordinary course of business of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 207.25 Td (Company) Tj ET Q q 0 0 0 rg BT 87.74 207.25 Td (. Management believes that it has meritorious defenses and will vigorously defend the Company in these actions. ) Tj ET Q q 0 0 0 rg BT 541.80 207.25 Td (Any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 195.25 Td (costs that management estimates will be paid as a result of these claims are accrued when the liability is considered probable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 183.25 Td (and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 171.25 Td (range is a better estimate than any other amount, then the minimum of the range is accrued. ) Tj ET Q q 0 0 0 rg BT 417.25 171.25 Td (The Company does not accrue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 159.25 Td (liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.25 Td (when the liability is believed to be onlyreasonably possibleor remote. For contingencies where an unfavorable outcome is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 135.25 Td (probable orreasonably possibleand which are material, the Company discloses the nature of the contingency and, in some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 123.25 Td (circumstances, an estimate of the possible loss.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 99.25 Td (These matters are subject to inherent uncertainties, and unfavorable rulings could occur) Tj ET Q q 0 0 0 rg BT 398.82 99.25 Td (. If an unfavorable ruling were to occur) Tj ET Q q 0 0 0 rg BT 555.57 99.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 87.25 Td (there exists the possibility of an adverse impact on the Company) Tj ET Q q 0 0 0 rg BT 310.55 87.25 Td (s financial position, results of operations and cash flows of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 75.25 Td (period in which the ruling occurs, or in future periods.) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 704.25 Td (NOTE 12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 704.25 Td (Stockholders' Equity and Earnings Per) Tj ET Q q 0 0 0 rg BT 267.91 704.25 Td ( Shar) Tj ET Q q 0 0 0 rg BT 290.79 704.25 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.23 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.25 Td (NACCO Industries, Inc. Class) Tj ET Q q 0 0 0 rg BT 173.33 680.25 Td (A) Tj ET Q q 0 0 0 rg BT 180.00 680.25 Td ( common stock is traded on the New ) Tj ET Q q 0 0 0 rg BT 328.49 680.25 Td (Y) Tj ET Q q 0 0 0 rg BT 334.71 680.25 Td (ork Stock Exchange under the ticker symbol NC. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.25 Td (Because of transfer restrictions on ClassB common stock, no trading market has developed, or is expected to develop, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.25 Td (Company's ClassB common stock. ) Tj ET Q q 0 0 0 rg BT 193.84 656.25 Td (The ClassB common stock is convertible into Class) Tj ET Q q 0 0 0 rg BT 404.66 656.25 Td (A) Tj ET Q q 0 0 0 rg BT 411.33 656.25 Td ( common stock on a one-for) Tj ET Q q 0 0 0 rg BT 523.60 656.25 Td (-one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 644.25 Td (basis at any time at the request of the holder) Tj ET Q q 0 0 0 rg BT 225.78 644.25 Td (. ) Tj ET Q q 0 0 0 rg BT 230.60 644.25 Td (The Company's Class) Tj ET Q q 0 0 0 rg BT 319.35 644.25 Td (A) Tj ET Q q 0 0 0 rg BT 326.02 644.25 Td ( common stock and ClassB common stock have the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 632.25 Td (cash dividend rights per share. ) Tj ET Q q 0 0 0 rg BT 173.86 632.25 Td (As the liquidation and dividend rights are identical, any distribution of earnings would be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 620.25 Td (allocated to Class ) Tj ET Q q 0 0 0 rg BT 122.49 620.25 Td (A) Tj ET Q q 0 0 0 rg BT 129.16 620.25 Td ( and Class B stockholders on a proportionate basis, and accordingly the net income per share for each class ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 608.25 Td (of common stock is identical. ) Tj ET Q q 0 0 0 rg BT 170.35 608.25 Td (The Class) Tj ET Q q 0 0 0 rg BT 212.02 608.25 Td (A) Tj ET Q q 0 0 0 rg BT 218.69 608.25 Td ( common stock has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.12 608.25 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.56 608.25 Td ( vote per share and the ClassB common stock has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.57 608.25 Td (ten) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.79 608.25 Td ( votes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 596.25 Td (per share. ) Tj ET Q q 0 0 0 rg BT 91.19 596.25 Td (The total number of authorized shares of Class) Tj ET Q q 0 0 0 rg BT 280.02 596.25 Td (A) Tj ET Q q 0 0 0 rg BT 286.69 596.25 Td ( common stock and ClassB common stock at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.40 596.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.98 596.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.05 584.25 Td (25,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.05 584.25 Td ( shares and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.98 584.25 Td (6,756,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.98 584.25 Td ( shares, respectively) Tj ET Q q 0 0 0 rg BT 280.13 584.25 Td (. ) Tj ET Q q 0 0 0 rg BT 284.95 584.25 Td (T) Tj ET Q q 0 0 0 rg BT 290.71 584.25 Td (reasury shares of Class) Tj ET Q q 0 0 0 rg BT 384.58 584.25 Td (A) Tj ET Q q 0 0 0 rg BT 391.25 584.25 Td ( common stock totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.90 584.25 Td (2,862,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.90 584.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.25 Td (2,931,590) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 572.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.22 572.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.80 572.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.24 572.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.24 572.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 272.90 572.25 Td (, have been deducted from shares outstanding.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 548.25 Td (Stock Repur) Tj ET Q q 0 0 0 rg BT 103.43 548.25 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 139.63 548.25 Td (ograms: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.12 548.25 Td (On February 14, 2018, the Company's Board of Directors approved a stock repurchase program ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 536.25 Td (\("2018 Stock Repurchase Program"\) providing for the repurchase of up to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.36 536.25 Td ($25 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.76 536.25 Td (of the Company's outstanding Class ) Tj ET Q q 0 0 0 rg BT 542.67 536.25 Td (A) Tj ET Q q 0 0 0 rg BT 549.34 536.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 524.25 Td (Common Stock throughDecember 31, 2019. During 2018, the Company repurchased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.94 524.25 Td (39,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.44 524.25 Td ( shares of Class ) Tj ET Q q 0 0 0 rg BT 486.88 524.25 Td (A) Tj ET Q q 0 0 0 rg BT 493.54 524.25 Td ( Common Stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 512.25 Td (under the 2018 Stock Repurchase Program for an aggregate purchase price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.66 512.25 Td ($1.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.55 512.25 Td (. Under past stock repurchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 500.25 Td (programs, the Company has repurchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.51 500.25 Td (1,855,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.51 500.25 Td (shares of Class ) Tj ET Q q 0 0 0 rg BT 319.95 500.25 Td (A) Tj ET Q q 0 0 0 rg BT 326.62 500.25 Td ( Common Stock for an aggregate purchase price of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.93 500.25 Td ($101.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 488.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 488.25 Td (. ) Tj ET Q q 0 0 0 rg BT 83.71 488.25 Td (The timing and amount of any repurchases under the 2018 Stock Repurchase Program are determined at the discretion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 476.25 Td (of the Company's management based on a number of factors, including the availability of capital, other capital allocation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 464.25 Td (alternatives, market conditions for the Company's Class ) Tj ET Q q 0 0 0 rg BT 275.09 464.25 Td (A) Tj ET Q q 0 0 0 rg BT 281.76 464.25 Td ( Common Stock and other legal and contractual restrictions. ) Tj ET Q q 0 0 0 rg BT 524.30 464.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 452.25 Td (2018 Stock Repurchase Program does not require the Company to acquire any specific number of shares and may be modified, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 440.25 Td (suspended, extended or terminated by the Company without prior notice and may be executed through open market purchases, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 428.25 Td (privately negotiated transactions or otherwise. ) Tj ET Q q 0 0 0 rg BT 236.61 428.25 Td (All or part of the repurchases under the 2018 Stock Repurchase Program may be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 416.25 Td (implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 404.25 Td (Company might otherwise be restricted from doing so under applicable securities laws.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 383.25 Td (Stock Compensation:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.40 383.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.90 383.25 Td (See Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.77 383.25 Td ( for a discussion of the Company's restricted stock awards.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (Amounts Reclassified out of ) Tj ET Q q 0 0 0 rg BT 171.11 362.25 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 255.64 362.25 Td ( Compr) Tj ET Q q 0 0 0 rg BT 288.51 362.25 Td (ehensive Income: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.61 362.25 Td (The following table summarizes the amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (reclassified out of ) Tj ET Q q 0 0 0 rg BT 123.59 350.25 Td (AOCI and recognized in the Consolidated Statement of Operations:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 287.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 287.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 287.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 287.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 287.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 287.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 257.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 257.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 257.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 257.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 257.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 257.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 227.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 227.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 227.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 227.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 227.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 227.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 182.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 182.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 182.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 182.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 182.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 182.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 152.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 152.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 152.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 152.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 152.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 152.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 122.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 122.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 122.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 122.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 122.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 122.75 204.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 92.75 161.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.50 92.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 92.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.50 92.75 7.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 92.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.50 92.75 204.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 324.75 m 283.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283.5 324.75 m 290.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 324.75 m 356.5 324.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 302.75 m 211.5 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 302.75 m 283.5 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 302.75 m 356.5 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.5 302.75 m 560.5 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 302.75 m 356.5 302.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 257.75 m 283.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 257.75 m 356.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 257.75 m 283.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 257.75 m 356.5 257.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 227.75 m 283.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 227.75 m 356.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 227.75 m 283.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 213.75 m 283.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 211.75 m 283.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 227.75 m 356.5 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 213.75 m 356.5 213.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 211.75 m 356.5 211.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 152.75 m 283.5 152.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 152.75 m 356.5 152.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 122.75 m 283.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 108.75 m 283.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 106.75 m 283.5 106.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 122.75 m 356.5 122.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 108.75 m 356.5 108.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 106.75 m 356.5 106.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 92.75 m 283.5 92.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 78.75 m 283.5 78.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217.5 76.75 m 283.5 76.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 92.75 m 356.5 92.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 78.75 m 356.5 78.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 76.75 m 356.5 76.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.90 329.42 Td (Amount reclassified from ) Tj ET Q q 0 0 0 rg BT 326.87 329.42 Td (AOCI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.35 307.42 Td (Details about ) Tj ET Q q 0 0 0 rg BT 120.62 307.42 Td (AOCI components) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.00 307.43 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.00 307.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.40 315.32 Td (Location of loss \(gain\) reclassified from ) Tj ET Q q 0 0 0 rg BT 527.13 315.32 Td (AOCI) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.25 305.37 Td (into income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 292.42 Td (Loss \(gain\) on cash flow hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 277.42 Td (Foreign exchange contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.00 277.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 277.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 277.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 277.47 Td (\(158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 277.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 277.42 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 262.42 Td (Interest rate contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 262.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.80 262.47 Td (\(3,466) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 262.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 262.42 Td (Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 247.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.80 247.47 Td (\(3,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 247.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 247.42 Td (T) Tj ET Q q 0 0 0 rg BT 364.76 247.42 Td (otal before income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 232.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.76 232.42 Td (ax ef) Tj ET Q q 0 0 0 rg BT 96.03 232.42 Td (fect) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 232.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 232.42 Td (1,255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 232.42 Td (Income tax expense \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.00 217.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 217.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 217.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.80 217.47 Td (\(2,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 217.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 217.42 Td (Net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 187.42 Td (Pension and postretirement plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 172.42 Td (Actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.00 172.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 172.43 Td (580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 172.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 172.42 Td (955) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 359.00 177.58 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 157.42 Td (Prior) Tj ET Q q 0 0 0 rg BT 90.90 157.42 Td (-service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.30 157.43 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.65 157.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.30 157.47 Td (\(10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 157.42 Td (\)) Tj ET Q BT /F1 6.50 Tf ET q 0 0 0 rg BT 359.00 162.58 Td (\(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 142.43 Td (574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 142.42 Td (945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 142.42 Td (T) Tj ET Q q 0 0 0 rg BT 364.76 142.42 Td (otal before income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.00 127.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.41 127.42 Td (ax ef) Tj ET Q q 0 0 0 rg BT 95.94 127.42 Td (fect) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.30 127.43 Td (\(85) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.65 127.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 127.47 Td (\(363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 127.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 127.42 Td (Income tax benefit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.00 112.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 112.43 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 112.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 112.42 Td (582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 112.42 Td (Net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 82.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 82.42 Td (otal reclassifications for the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.00 82.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 82.43 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.00 82.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.80 82.47 Td (\(1,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 82.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.00 82.42 Td (Net of tax) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (\(a\) NACCO and NACoal's ) Tj ET Q q 0 0 0 rg BT 161.51 704.10 Td (AOCI components are included in the computation of pension and postretirement expense. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.75 704.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (Note 14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.94 692.10 Td ( for a discussion of the Company's pension and postretirement expense.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 668.10 Td (Earnings per) Tj ET Q q 0 0 0 rg BT 105.66 668.10 Td ( Shar) Tj ET Q q 0 0 0 rg BT 128.54 668.10 Td (e:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.31 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.63 668.10 Td (The weighted average number of shares of Class) Tj ET Q q 0 0 0 rg BT 335.23 668.10 Td (A) Tj ET Q q 0 0 0 rg BT 341.90 668.10 Td ( common stock and ClassB common stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 656.10 Td (outstanding used to calculate basic and diluted earnings per share were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 632.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 632.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 632.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 602.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 602.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 602.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 572.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 572.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 572.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 572.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 542.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 542.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 542.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 542.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 512.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 512.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 512.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 512.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 482.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 482.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 482.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 452.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 452.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 452.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 452.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 632.6 m 498.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 632.6 m 562.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 632.6 m 498.5 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 602.6 m 498.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 602.6 m 498.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 588.6 m 498.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 586.6 m 498.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 588.6 m 562.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 586.6 m 562.5 586.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 527.6 m 498.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 527.6 m 562.5 527.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 513.6 m 498.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 511.6 m 498.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 513.6 m 562.5 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 511.6 m 562.5 511.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 452.6 m 498.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 452.6 m 562.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 452.6 m 498.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 438.6 m 498.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 436.6 m 498.5 436.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 452.6 m 562.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 438.6 m 562.5 438.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 436.6 m 562.5 436.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 636.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 636.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 636.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 622.27 Td (Basic weighted average shares outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 622.28 Td (6,924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 622.27 Td (6,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 607.27 Td (Dilutive ef) Tj ET Q q 0 0 0 rg BT 95.95 607.27 Td (fect of restricted stock awards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 607.28 Td (36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 607.27 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.27 Td (Diluted weighted average shares outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 592.28 Td (6,960) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 592.27 Td (6,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 562.27 Td (Basic earnings per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 547.27 Td (Continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 547.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 547.28 Td (5.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 547.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 547.27 Td (4.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 532.27 Td (Discontinued operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 532.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 532.27 Td (0.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 517.27 Td (Basic earnings per share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 517.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 517.28 Td (5.02) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 517.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 517.27 Td (4.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 487.27 Td (Diluted earnings per share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.27 Td (Continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 472.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 472.28 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 472.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 472.27 Td (4.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 457.27 Td (Discontinued operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 457.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 457.27 Td (0.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 442.27 Td (Diluted earnings per share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 442.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 442.28 Td (5.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 442.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 442.27 Td (4.41) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (NOTE 13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 411.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 134.82 411.10 Td (T) Tj ET Q q 0 0 0 rg BT 140.57 411.10 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.90 411.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (The components of income \(loss\) from continuing operations before income tax provision \(benefit\) and the income tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (provision \(benefit\) for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.05 375.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.64 375.10 Td ( are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 350.60 390.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 350.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 350.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 350.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 321.60 390.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 321.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 321.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 321.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 293.60 390.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 293.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 293.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 293.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 265.60 390.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 265.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 265.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 265.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 237.60 390.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 237.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 237.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 237.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 209.60 390.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 209.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 209.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 209.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 181.60 390.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.50 181.60 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 181.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 181.60 59.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 350.6 m 499.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 350.6 m 562.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 307.6 m 499.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 307.6 m 562.5 307.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 294.6 m 499.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 292.6 m 499.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 294.6 m 562.5 294.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 292.6 m 562.5 292.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 237.60000000000002 m 499.5 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 237.60000000000002 m 562.5 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 223.60000000000002 m 499.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 223.60000000000002 m 562.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 181.60000000000002 m 499.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 181.60000000000002 m 562.5 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 167.60000000000002 m 499.5 167.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 167.60000000000002 m 562.5 167.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 154.60000000000002 m 499.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.5 152.60000000000002 m 499.5 152.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 154.60000000000002 m 562.5 154.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 152.60000000000002 m 562.5 152.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 354.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.50 354.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.50 354.85 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 340.28 Td (Income \(loss\) befor) Tj ET Q q 0 0 0 rg BT 134.56 340.28 Td (e income tax pr) Tj ET Q q 0 0 0 rg BT 200.19 340.28 Td (ovision \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.00 340.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 340.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.17 Td (Domestic) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 326.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 326.28 Td (45,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 326.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 326.17 Td (31,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 312.17 Td (Foreign) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 312.33 Td (\(3,007) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 312.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 312.22 Td (\(2,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 312.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 298.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 298.28 Td (42,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 298.17 Td (29,102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 284.28 Td (Income tax pr) Tj ET Q q 0 0 0 rg BT 112.81 284.28 Td (ovision \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 284.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 284.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 270.17 Td (Current income tax provision \(benefit\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 270.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 270.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 256.17 Td (Federal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 256.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 256.33 Td (\(2,296) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 256.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 256.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 256.22 Td (\(3,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 256.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 242.17 Td (State) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 242.28 Td (393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 242.17 Td (435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 228.17 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 228.17 Td (otal current) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 228.33 Td (\(1,903) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 228.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 228.22 Td (\(3,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 228.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 214.17 Td (Deferred income tax provision \(benefit\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 214.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 200.17 Td (Federal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 200.28 Td (8,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 200.17 Td (6,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 186.17 Td (State) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 186.28 Td (696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 186.22 Td (\(2,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 186.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 172.17 Td (T) Tj ET Q q 0 0 0 rg BT 70.41 172.17 Td (otal deferred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 172.28 Td (9,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 172.17 Td (4,089) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 158.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.00 158.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 158.28 Td (7,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 158.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 158.17 Td (639) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (The Company made income tax payments related to continuing operations of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.30 130.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.20 130.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.63 130.10 Td ($5.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.53 130.10 Td ( during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.63 130.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.63 130.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 118.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 122.66 118.10 Td (. During the same periods, income tax refunds totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.55 118.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.44 118.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.88 118.10 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.77 118.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 509.43 118.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.10 Td (During 2017, the U.S. government enacted the ) Tj ET Q q 0 0 0 rg BT 238.66 98.10 Td (T) Tj ET Q q 0 0 0 rg BT 244.07 98.10 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 313.52 98.10 Td (Act \(TCJA\), which significantly revised U.S. tax law) Tj ET Q q 0 0 0 rg BT 534.48 98.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 59.26 86.10 Td (fective January 1, 2018, the ) Tj ET Q q 0 0 0 rg BT 172.09 86.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 195.43 86.10 Td ( positively impacted the Company) Tj ET Q q 0 0 0 rg BT 335.41 86.10 Td (s ongoing ef) Tj ET Q q 0 0 0 rg BT 384.67 86.10 Td (fective income tax rate due to the reduction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 74.10 Td (of the U.S. corporate tax rate from 35 percent to 21 percent. In addition, other significant changes to existing tax law include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 62.10 Td (\(1\) elimination of the alternative minimum tax regime for corporations; \(2\) limitations on the deductibility of certain executive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 50.10 Td (compensation for publicly traded companies; \(3\) accelerated expensing of capital investment, subject to phase-out beginning in ) Tj ET Q endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (2023; \(4\) a new limitation on deductible interest expense; and \(5\) changes in utilization of net operating losses generated after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (December 31, 2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 672.10 Td (As a result of the ) Tj ET Q q 0 0 0 rg BT 120.63 672.10 Td (TCJA, the Company recorded a discrete net tax benefit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.17 672.10 Td ($3.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.06 672.10 Td ( in the year ended December 31, 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 660.10 Td (This net benefit is attributable to the corporate rate reduction on existing deferred tax assets and liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 640.10 Td ( reconciliation of the federal statutory and ef) Tj ET Q q 0 0 0 rg BT 234.47 640.10 Td (fective income tax rate from continuing operations for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.58 628.10 Td ( is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 603.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 603.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 603.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 603.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 573.60 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 573.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 573.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 573.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 545.60 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 545.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 545.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 545.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 517.60 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 517.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 517.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 517.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 489.60 388.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 489.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 489.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 489.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 461.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 461.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 461.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 461.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 603.6 m 498.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 589.6 m 498.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 587.6 m 498.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 603.6 m 562.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 589.6 m 562.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 587.6 m 562.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 587.6 m 498.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 589.6 m 498.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 587.6 m 562.5 587.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 589.6 m 562.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 475.6 m 498.5 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 475.6 m 562.5 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 462.6 m 498.5 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 460.6 m 498.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 462.6 m 562.5 462.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 460.6 m 562.5 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 447.6 m 498.5 447.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 445.6 m 498.5 445.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 447.6 m 562.5 447.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 445.6 m 562.5 445.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 607.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 607.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 607.85 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 593.28 Td (Income fr) Tj ET Q q 0 0 0 rg BT 94.75 593.28 Td (om continuing operations befor) Tj ET Q q 0 0 0 rg BT 228.74 593.28 Td (e income tax pr) Tj ET Q q 0 0 0 rg BT 294.37 593.28 Td (ovision) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 593.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.50 593.28 Td (42,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 593.27 Td (29,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.27 Td (Statutory taxes at 21.0% and 35.0%, respectively) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 578.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 578.28 Td (8,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 578.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 578.27 Td (10,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 564.17 Td (State and local income taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 564.28 Td (1,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 564.17 Td (493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 550.17 Td (V) Tj ET Q q 0 0 0 rg BT 71.67 550.17 Td (aluation allowances) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.00 550.28 Td (640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 550.22 Td (\(1,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 550.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 536.17 Td (Non-deductible expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.00 536.28 Td (663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 536.17 Td (224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 522.17 Td (Percentage depletion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 522.28 Td (\(4,199) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 522.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 522.22 Td (\(6,253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 522.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 508.17 Td (R&D and other federal credits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 508.28 Td (\(37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 508.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 508.17 Td (301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 494.17 Td (Ef) Tj ET Q q 0 0 0 rg BT 74.26 494.17 Td (fect of the ) Tj ET Q q 0 0 0 rg BT 117.11 494.17 Td (TCJA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.00 494.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 494.22 Td (\(3,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 494.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 480.17 Td (Other) Tj ET Q q 0 0 0 rg BT 87.37 480.17 Td (, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.00 480.28 Td (216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 480.17 Td (273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 466.17 Td (Income tax provision from continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 466.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 466.28 Td (7,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 466.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.65 466.17 Td (639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 451.27 Td (Ef) Tj ET Q q 0 0 0 rg BT 62.26 451.27 Td (fective income tax rate from continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 451.28 Td (17.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 451.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 451.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 451.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 423.10 Td (The Company applied the intraperiod tax allocation rules as described in ) Tj ET Q q 0 0 0 rg BT 342.41 423.10 Td (ASC 740-20 Intraperiod ) Tj ET Q q 0 0 0 rg BT 446.38 423.10 Td (T) Tj ET Q q 0 0 0 rg BT 451.79 423.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 463.17 423.10 Td (Allocation to allocate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 411.10 Td (the provision for income taxes between continuing operations and discontinued operations in 2017. ) Tj ET Q q 0 0 0 rg BT 448.80 411.10 Td (As a result of the spin-of) Tj ET Q q 0 0 0 rg BT 547.77 411.10 Td (f of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 399.10 Td (HBBHC during 2017, the Company used the with and without approach to compute total income tax expense for 2017. ) Tj ET Q q 0 0 0 rg BT 540.83 399.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (Company calculated income tax expense from all financial statement components \(continuing operations and discontinued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (operations\), the with approach, and compared that to the income tax expense \(benefit\) attributable to continuing operations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 363.10 Td (the without approach. ) Tj ET Q q 0 0 0 rg BT 148.12 363.10 Td (The dif) Tj ET Q q 0 0 0 rg BT 177.09 363.10 Td (ference between the with and without was allocated to discontinued operations. ) Tj ET Q q 0 0 0 rg BT 519.56 363.10 Td (While ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 351.10 Td (intraperiod tax allocations do not change the overall tax provision, it resulted in a gross-up of the individual components, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 339.10 Td (thereby changing the amount of tax provision included in each category of income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 318.10 Td ( detailed summary of the total deferred tax assets and liabilities in the Company's Consolidated Balance Sheets resulting from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 306.10 Td (ferences in the book and tax bases of assets and liabilities follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 269.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 269.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 269.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 269.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 239.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 239.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 239.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 209.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 209.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 209.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 209.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 179.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 179.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 179.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 179.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 149.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 149.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 149.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 149.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 119.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 119.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 119.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 119.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 89.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 89.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 89.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 89.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 59.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 59.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 59.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 59.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 282.6 m 488.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488.5 282.6 m 492.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 282.6 m 562.5 282.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 269.6 m 488.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 269.6 m 562.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 179.60000000000002 m 488.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 179.60000000000002 m 562.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 149.60000000000002 m 488.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 149.60000000000002 m 562.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 134.60000000000002 m 488.5 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 134.60000000000002 m 562.5 134.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 74.60000000000002 m 488.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 74.60000000000002 m 562.5 74.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 59.60000000000002 m 488.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 59.60000000000002 m 562.5 59.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 45.60000000000002 m 488.5 45.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 43.60000000000002 m 488.5 43.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 45.60000000000002 m 562.5 45.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 43.60000000000002 m 562.5 43.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 286.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.55 286.85 Td (December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 273.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 273.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 273.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 259.27 Td (Deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 259.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 259.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 244.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 244.27 Td (ax carryforwards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 244.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 244.28 Td (19,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 244.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 244.27 Td (22,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 229.27 Td (Inventories) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 229.28 Td (2,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 229.27 Td (1,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 214.27 Td (Accrued expenses and reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 214.28 Td (9,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 214.27 Td (1) Tj ET Q q 0 0 0 rg BT 536.15 214.27 Td (1,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 199.27 Td (Other employee benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 199.28 Td (4,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 199.27 Td (4,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 184.27 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 184.28 Td (9,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 184.27 Td (8,933) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 169.27 Td (T) Tj ET Q q 0 0 0 rg BT 82.76 169.27 Td (otal deferred tax assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 169.28 Td (45,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 169.27 Td (49,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 154.27 Td (Less: ) Tj ET Q q 0 0 0 rg BT 100.52 154.27 Td (V) Tj ET Q q 0 0 0 rg BT 107.10 154.27 Td (aluation allowance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 154.28 Td (14,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 154.27 Td (13,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 139.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 139.28 Td (30,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 139.27 Td (35,630) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 124.27 Td (Deferred tax liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 124.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 124.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 109.27 Td (Depreciation and depletion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 109.28 Td (27,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 109.27 Td (23,029) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 94.27 Td (Partnership investment - development costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 94.28 Td (5,146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 94.27 Td (4,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 79.27 Td (Accrued pension benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 79.28 Td (1,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 79.27 Td (2,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 64.27 Td (T) Tj ET Q q 0 0 0 rg BT 82.41 64.27 Td (otal deferred tax liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 64.28 Td (33,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 64.27 Td (29,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 49.27 Td (Net deferred \(liability\) asset) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 49.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 49.33 Td (\(2,846) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 49.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 49.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 49.27 Td (5,962) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (The following table summarizes the tax carryforwards and associated carryforward periods and related valuation allowances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (where the Company has determined that realization is uncertain:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 635.60 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 635.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 635.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 635.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 635.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 635.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 605.60 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 605.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 605.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 605.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 605.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 605.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 575.60 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 575.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 575.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 575.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 575.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 575.60 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 656.6 m 408.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 656.6 m 412.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 656.6 m 482.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 656.6 m 486.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 656.6 m 562.5 656.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 635.6 m 408.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 635.6 m 482.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 635.6 m 562.5 635.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 575.6 m 408.5 575.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 575.6 m 482.5 575.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 561.6 m 408.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 559.6 m 408.5 559.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 561.6 m 482.5 561.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 559.6 m 482.5 559.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 660.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.75 660.83 Td (December) Tj ET Q q 0 0 0 rg BT 452.25 660.83 Td ( 31, 2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 639.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.00 647.85 Td (Net deferred tax ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.20 639.85 Td (asset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.65 647.85 Td (V) Tj ET Q q 0 0 0 rg BT 436.54 647.85 Td (aluation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 639.85 Td (allowance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.65 647.85 Td (Carryforwards ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.45 639.85 Td (expire during:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 625.27 Td (Non-U.S. net operating loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 625.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 625.28 Td (2,340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.00 625.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 625.28 Td (2,340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.30 625.28 Td (2024-2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 610.27 Td (State losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 610.28 Td (16,624) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.15 610.28 Td (13,182) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.30 610.28 Td (2019-2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 595.27 Td (Research credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 595.28 Td (1,198) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 595.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.30 595.28 Td (2034-2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 580.27 Td (Alternative minimum tax credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 580.28 Td (2,310) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 580.28 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 580.28 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 565.27 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 565.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 565.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 565.28 Td (22,472) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.00 565.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.15 565.28 Td (15,522) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 504.60 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 504.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 504.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 504.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 504.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 504.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 474.60 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 474.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 474.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 474.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 474.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 474.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 444.60 288.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.50 444.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 444.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 444.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 444.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 444.60 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 525.6 m 408.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 525.6 m 412.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 525.6 m 482.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 525.6 m 486.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 525.6 m 562.5 525.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 504.6 m 408.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 504.6 m 482.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 504.6 m 562.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 504.6 m 408.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 504.6 m 482.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 504.6 m 562.5 504.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 444.6 m 408.5 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 430.6 m 408.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 428.6 m 408.5 428.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 444.6 m 482.5 444.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 430.6 m 482.5 430.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 428.6 m 482.5 428.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 529.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.55 529.85 Td (December 31, 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 508.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.00 516.85 Td (Net deferred tax ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 365.20 508.85 Td (asset) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.65 516.85 Td (V) Tj ET Q q 0 0 0 rg BT 436.54 516.85 Td (aluation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.75 508.85 Td (allowance) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 500.65 516.85 Td (Carryforwards ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.45 508.85 Td (expire during:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 494.27 Td (Non-U.S. net operating loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 494.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 494.27 Td (1,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 494.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 494.27 Td (1,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.30 494.27 Td (2024-2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 479.27 Td (State losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 479.27 Td (16,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 479.27 Td (13,054) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.30 479.27 Td (2018-2037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 464.27 Td (Research credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 464.27 Td (1,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 464.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.30 464.27 Td (2034-2037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.27 Td (Alternative minimum tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 449.27 Td (5,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 449.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 449.27 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.27 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 434.27 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.00 434.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 434.27 Td (25,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.00 434.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 434.27 Td (14,492) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.98 409.10 Td (The ) Tj ET Q q 0 0 0 rg BT 81.85 409.10 Td (TCJA) Tj ET Q q 0 0 0 rg BT 105.19 409.10 Td ( repealed the corporate alternative minimum tax for tax years beginning after December 31, 2017. ) Tj ET Q q 0 0 0 rg BT 499.01 409.10 Td (This credit is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 397.10 Td (refundable in 2021, if not fully utilized prior to 2021.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (The Company has a valuation allowance for certain state and foreign deferred tax assets. Based upon the review of historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (earnings and the relevant expiration of carryforwards, including utilization limitations in the various state taxing jurisdictions, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (the Company believes the valuation allowances are appropriate and does not expect to release valuation allowances within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (next twelve months that would have a significant ef) Tj ET Q q 0 0 0 rg BT 256.43 340.10 Td (fect on the Company's financial position or results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 319.10 Td (The tax returns of the Company and certain of its subsidiaries are under routine examination by various taxing authorities. ) Tj ET Q q 0 0 0 rg BT 540.80 319.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 307.10 Td (Company has not been informed of any material assessment for which an accrual has not been previously provided and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 295.10 Td (Company would vigorously contest any material assessment. Management believes any potential adjustment would not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 283.10 Td (materially af) Tj ET Q q 0 0 0 rg BT 100.63 283.10 Td (fect the Company's financial condition or results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (In general, the Company operates in taxing jurisdictions that provide a statute of limitations period ranging from three to five ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (years for the taxing authorities to review the applicable tax filings. ) Tj ET Q q 0 0 0 rg BT 318.07 250.10 Td (The examination of the 2013-2016 U.S. federal tax returns is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (ongoing. ) Tj ET Q q 0 0 0 rg BT 87.60 238.10 Td (The Company does not have any additional material taxing jurisdictions in which the statute of limitations has been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (extended beyond the applicable time frame allowed by law) Tj ET Q q 0 0 0 rg BT 285.37 226.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 205.10 Td (The following is a reconciliation of the Company's total gross unrecognized tax benefits, defined as the aggregate tax ef) Tj ET Q q 0 0 0 rg BT 528.96 205.10 Td (fect of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 193.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 193.10 Td (ferences between tax return positions and the benefits recognized in the financial statements for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 181.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 181.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.02 181.10 Td (. ) Tj ET Q q 0 0 0 rg BT 172.47 181.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.51 181.10 Td ($1.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.40 181.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.84 181.10 Td ($0.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.73 181.10 Td ( of these gross amounts as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.77 181.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.36 181.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 169.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.94 169.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 139.60 169.10 Td (, relate to permanent items that, if recognized, would impact the ef) Tj ET Q q 0 0 0 rg BT 405.43 169.10 Td (fective income tax rate. ) Tj ET Q q 0 0 0 rg BT 501.59 169.10 Td (This amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 157.10 Td (fers from the gross unrecognized tax benefits presented in the table below due to the decrease in U.S. federal income taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.10 Td (which would occur upon the recognition of the state tax benefits included herein.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 121.60 364.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 121.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 121.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 121.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 91.60 364.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 91.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 91.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 91.60 72.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 121.60000000000002 m 486.5 121.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 121.60000000000002 m 562.5 121.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 121.60000000000002 m 562.5 121.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 76.60000000000002 m 486.5 76.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 76.60000000000002 m 562.5 76.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 62.60000000000002 m 486.5 62.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 60.60000000000002 m 486.5 60.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 62.60000000000002 m 562.5 62.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 60.60000000000002 m 562.5 60.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 125.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 125.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.00 125.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 111.27 Td (Balance at January 1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.00 111.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.65 111.28 Td (997) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 111.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 111.27 Td (915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 96.27 Td (Additions based on tax positions related to prior years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.65 96.28 Td (283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 96.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 81.27 Td (Additions based on tax positions related to the current year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 81.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 81.27 Td (82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 66.28 Td (Balance at December) Tj ET Q q 0 0 0 rg BT 143.34 66.28 Td ( 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.00 66.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 66.28 Td (1,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 66.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 66.27 Td (997) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (The Company records interest and penalties on uncertain tax positions as a component of the income tax provision. ) Tj ET Q q 0 0 0 rg BT 513.31 704.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (Company recognized net expense of less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.22 692.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.11 692.10 Td ( in interest and penalties related to uncertain tax positions during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 680.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.44 680.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.44 680.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 162.10 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 169.42 680.10 Td (The total amount of interest and penalties accrued was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.61 680.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.51 680.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.94 680.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.84 680.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 668.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 668.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.02 668.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 220.68 668.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (The Company expects the amount of unrecognized tax benefits will change within the next 12 months; however) Tj ET Q q 0 0 0 rg BT 497.81 647.10 Td (, the change in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (unrecognized tax benefits, which is reasonably possible within the next 12 months, is not expected to have a significant ef) Tj ET Q q 0 0 0 rg BT 537.75 635.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (on the Company's financial position, results of operations or cash flows. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (NOTE 14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 599.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 122.87 599.10 Td (ement Benefit Plans) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 578.10 Td (Defined Benefit Plans:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.55 578.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.87 578.10 Td (The Company maintains defined benefit pension plans that provide benefits based on years of service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 566.10 Td (and average compensation during certain periods. Prior to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.09 566.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.09 566.10 Td (, the Company amended the Combined Defined Benefit Plan for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.10 Td (NACCO Industries, Inc. and its subsidiaries \(the Combined Plan\) to freeze pension benefits for all employees. ) Tj ET Q q 0 0 0 rg BT 502.21 554.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.10 Td (also amended the Supplemental Retirement Benefit Plan \(the SERP\) to freeze all pension benefits. Certain executive of) Tj ET Q q 0 0 0 rg BT 536.05 542.10 Td (ficers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.10 Td (also maintain accounts under various deferred compensation plans that were frozen prior to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.92 530.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.92 530.10 Td (. ) Tj ET Q q 0 0 0 rg BT 442.37 530.10 Td (All eligible employees of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.10 Td (Company) Tj ET Q q 0 0 0 rg BT 88.24 518.10 Td (, including employees whose pension benefits are frozen, receive retirement benefits under defined contribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.10 Td (retirement plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.10 Td (The assumptions used in accounting for the defined benefit plans were as follows for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.82 485.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.41 485.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 461.60 364.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 461.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 461.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 461.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 431.60 364.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.50 431.60 72.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 431.60 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.50 431.60 72.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414.5 461.6 m 486.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 461.6 m 562.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490.5 461.6 m 562.5 461.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 465.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 442.00 465.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.00 465.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 451.27 Td (W) Tj ET Q q 0 0 0 rg BT 74.04 451.27 Td (eighted average discount rates for pension benefit obligation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 451.28 Td (4.10% - 4.20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 451.27 Td (3.40% - 3.55%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 436.27 Td (W) Tj ET Q q 0 0 0 rg BT 74.04 436.27 Td (eighted average discount rates for net periodic benefit cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 436.28 Td (3.40% - 3.55%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 436.27 Td (3.40% - 4.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 412.27 Td (Expected long-term rate of return on assets for net periodic benefit cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.50 412.28 Td (7.50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.00 412.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 412.27 Td (7.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 412.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 387.10 Td (Set forth below is a detail of the net periodic pension expense \(income\) for the defined benefit plans for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 375.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.58 375.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 351.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 351.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 351.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 351.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 321.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 321.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 321.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 291.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 291.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 291.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 351.6 m 498.5 351.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 351.6 m 562.5 351.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 351.6 m 562.5 351.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 276.6 m 498.5 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 276.6 m 562.5 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 262.6 m 498.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 260.6 m 498.5 260.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 262.6 m 562.5 262.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 260.6 m 562.5 260.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 355.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 355.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 355.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 341.27 Td (Interest cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 341.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 341.28 Td (1,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 341.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 341.27 Td (1,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 326.27 Td (Expected return on plan assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 326.33 Td (\(2,852) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 326.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 326.32 Td (\(2,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 326.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 311.27 Td (Amortization of actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 311.28 Td (484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 311.27 Td (363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 296.27 Td (Amortization of prior service cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 296.28 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 296.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 281.27 Td ( Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 281.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 281.27 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 266.27 Td (Net periodic pension income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 266.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 266.33 Td (\(729) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 266.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 266.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 266.32 Td (\(600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 266.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.10 Td (Set forth below is detail of other changes in plan assets and benefit obligations recognized in other comprehensive \(income\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 229.10 Td (lossfor the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.91 229.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.50 229.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 205.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 205.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 205.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 205.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 175.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 175.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 175.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 175.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 145.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 145.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 145.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 145.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 205.60000000000002 m 498.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 205.60000000000002 m 562.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 205.60000000000002 m 562.5 205.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 145.60000000000002 m 498.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 145.60000000000002 m 562.5 145.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 131.60000000000002 m 498.5 131.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 129.60000000000002 m 498.5 129.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 131.60000000000002 m 562.5 131.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 129.60000000000002 m 562.5 129.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 209.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 209.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 209.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 195.27 Td (Current year actuarial loss \(gain\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 195.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 195.28 Td (1,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 195.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 195.32 Td (\(1,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 195.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 180.27 Td (Amortization of actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 180.33 Td (\(484) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 180.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 180.32 Td (\(363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 180.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 165.27 Td (Amortization of prior service cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 165.33 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 165.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 165.32 Td (\(58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 165.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 150.27 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 150.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 150.32 Td (\(76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 150.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 135.27 Td (T) Tj ET Q q 0 0 0 rg BT 82.41 135.27 Td (otal recognized in other comprehensive loss \(income\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 135.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 135.28 Td (855) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 135.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 135.32 Td (\(1,840) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 135.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (The following table sets forth the changes in the benefit obligation and the plan assets during the year and the funded status of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (the defined benefit plans at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.79 692.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.38 692.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 668.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 668.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 668.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 638.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 638.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 638.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 608.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 608.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 608.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 608.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 578.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 578.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 578.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 578.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 548.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 548.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 548.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 518.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 518.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 488.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 488.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 488.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 458.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 458.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 458.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 425.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 425.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 425.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 425.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 395.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 395.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 395.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 395.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 365.60 340.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 365.60 82.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 365.60 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 365.60 86.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 328.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 328.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 328.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 328.60 86.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 298.60 340.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 298.60 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 298.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 298.60 86.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 668.6 m 472.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 668.6 m 476.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 668.6 m 562.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 578.6 m 472.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 578.6 m 562.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 563.6 m 472.5 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 563.6 m 562.5 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 549.6 m 472.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 547.6 m 472.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 549.6 m 562.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 547.6 m 562.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 458.6 m 472.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 458.6 m 562.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 443.6 m 472.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 443.6 m 562.5 443.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 426.6 m 472.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 424.6 m 472.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 426.6 m 562.5 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 424.6 m 562.5 424.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 365.6 m 472.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 365.6 m 562.5 365.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 350.6 m 472.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 348.6 m 472.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 350.6 m 562.5 350.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 348.6 m 562.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 283.6 m 472.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 283.6 m 562.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 269.6 m 472.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390.5 267.6 m 472.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 269.6 m 562.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 267.6 m 562.5 267.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 672.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.00 672.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.00 672.85 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 658.28 Td (Change in benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.00 658.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 658.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 643.27 Td (Projected benefit obligation at beginning of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 643.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 643.28 Td (46,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 643.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 643.27 Td (45,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 628.27 Td (Interest cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 628.28 Td (1,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 628.27 Td (1,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 613.27 Td (Actuarial\(gain\) loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 613.33 Td (\(3,286) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 613.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 613.27 Td (1,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 598.27 Td (Benefits paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 598.33 Td (\(2,334) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 598.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 598.32 Td (\(2,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 598.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 583.27 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.65 583.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 583.32 Td (\(255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 583.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 568.27 Td (Projected benefit obligation at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 568.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 568.28 Td (42,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 568.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 568.27 Td (46,065) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 553.28 Td (Accumulated benefit obligation at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 553.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 553.28 Td (42,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 553.27 Td (46,065) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 538.28 Td (Change in plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 523.27 Td (Fair value of plan assets at beginning of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 523.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 523.28 Td (38,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 523.27 Td (34,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 508.27 Td (Actual \(loss\) return on plan assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 508.33 Td (\(1,832) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 508.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 508.27 Td (5,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 493.27 Td (Employer contributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.65 493.28 Td (593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 493.27 Td (712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 478.27 Td (Benefits paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 478.33 Td (\(2,334) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 478.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 478.32 Td (\(2,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 478.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 463.27 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.65 463.28 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 463.32 Td (\(255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 463.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.00 448.27 Td (Fair value of plan assets at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 448.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 448.28 Td (34,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 448.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 448.27 Td (38,527) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 430.28 Td (Funded status at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 430.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 430.33 Td (\(7,072) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 430.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 430.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 430.32 Td (\(7,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 430.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 415.28 Td (Amounts r) Tj ET Q q 0 0 0 rg BT 98.74 415.28 Td (ecognized in the balance sheets consist of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.00 415.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 415.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 400.27 Td (Non-current assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 400.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 400.28 Td (2,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 400.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 400.27 Td (2,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 385.27 Td (Current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.30 385.33 Td (\(588) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 385.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 385.32 Td (\(700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 385.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 370.27 Td (Non-current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 370.33 Td (\(8,531) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 370.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 370.32 Td (\(8,889) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 370.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 354.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 354.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 354.33 Td (\(7,072) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 354.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 354.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 354.32 Td (\(7,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 354.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 333.28 Td (Components of accumulated other) Tj ET Q q 0 0 0 rg BT 199.75 333.28 Td ( compr) Tj ET Q q 0 0 0 rg BT 229.84 333.28 Td (ehensive loss \(income\) consist of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 318.27 Td (Actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 318.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 318.28 Td (16,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 318.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 318.27 Td (15,363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 303.27 Td (Prior service cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.65 303.28 Td (878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 303.27 Td (937) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 288.27 Td (Deferred taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.80 288.33 Td (\(3,320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 288.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 288.32 Td (\(6,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 288.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 273.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.00 273.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 273.28 Td (13,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.00 273.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 273.27 Td (9,819) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (The Company recognizes as a component of benefit cost \(income\), as of the measurement date, any unrecognized actuarial net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (gains or losses that exceed 10% of the lar) Tj ET Q q 0 0 0 rg BT 215.32 236.10 Td (ger of the projected benefit obligations or the plan assets, defined as the "corridor) Tj ET Q q 0 0 0 rg BT 540.41 236.10 Td (." ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (Amounts outside the corridor are amortized over the average expected remaining service of active participants expected to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (benefit under the retiree medical plans or over the average expected remaining lifetime of inactive participants for the pension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (plans. ) Tj ET Q q 0 0 0 rg BT 75.93 200.10 Td (The \(gain\) loss amounts recognized in ) Tj ET Q q 0 0 0 rg BT 230.89 200.10 Td (AOCI are not expected to be fully recognized until the plan is terminated or as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.10 Td (settlements occur) Tj ET Q q 0 0 0 rg BT 119.30 188.10 Td (, which would trigger accelerated recognition. Prior service costs resulting from plan changes are also in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (AOCI.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (The Company's policy is to make contributions to fund its pension plans within the range allowed by applicable regulations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.10 Td (The Company maintains one supplemental defined benefit plan that pays monthly benefits to participants directly out of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.10 Td (corporate funds. ) Tj ET Q q 0 0 0 rg BT 116.92 122.10 Td (All other pension benefit payments are made from assets of the pension plans. ) Tj ET Q endstream endobj 159 0 obj <> endobj 160 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (Future pension benefit payments expected to be paid from assets of the pension plans are:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 693.60 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 693.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 663.60 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 663.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.60 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 633.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 603.60 442.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 603.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 603.6 m 562.5 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 589.6 m 562.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 587.6 m 562.5 587.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 683.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 683.27 Td (2,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 668.27 Td (2,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 653.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 653.27 Td (2,669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 638.27 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 638.27 Td (2,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.27 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 623.27 Td (2,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.27 Td (2024 - 2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 608.27 Td (14,232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 593.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 593.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 593.27 Td (27,515) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (The expected long-term rate of return on defined benefit plan assets reflects management's expectations of long-term rates of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (return on funds invested to provide for benefits included in the projected benefit obligations. In establishing the expected long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (term rate of return assumption for plan assets, the Company considers the historical rates of return over a period of time that is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (consistent with the long-term nature of the underlying obligations of these plans as well as a forward-looking rate of return. ) Tj ET Q q 0 0 0 rg BT 546.07 532.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (historical and forward-looking rates of return for each of the asset classes used to determine the Company's estimated rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (return assumption were based upon the rates of return earned or expected to be earned by investments in the equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (benchmark market indices for each of the asset classes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 475.10 Td (Expected returns for pension plans are based on a calculated market-related value for pension plan assets. Under this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 463.10 Td (methodology) Tj ET Q q 0 0 0 rg BT 102.12 463.10 Td (, asset gains and losses resulting from actual returns that dif) Tj ET Q q 0 0 0 rg BT 340.50 463.10 Td (fer from the Company's expected returns are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 451.10 Td (recognized in the market-related value of assets ratably over three years. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 433.10 Td (The pension plans maintain investment policies that, among other things, establish a portfolio asset allocation methodology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 421.10 Td (with percentage allocation bands for individual asset classes. ) Tj ET Q q 0 0 0 rg BT 295.58 421.10 Td (The investment policies provide that investments are reallocated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 409.10 Td (between asset classes as balances exceed or fall below the appropriate allocation bands.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (The following is the actual allocation percentage and tar) Tj ET Q q 0 0 0 rg BT 274.73 388.10 Td (get allocation percentage for the pension plan assets at December 31:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 348.60 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 348.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 348.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 348.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 318.60 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 318.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 318.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 318.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364.5 348.6 m 424.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 348.6 m 488.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 348.6 m 562.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 348.6 m 488.5 348.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 352.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 386.00 368.83 Td (2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.65 360.83 Td (Actual ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 376.40 352.83 Td (Allocation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.00 368.85 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.30 360.85 Td (Actual ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.10 352.85 Td (Allocation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.25 360.85 Td (T) Tj ET Q q 0 0 0 rg BT 503.58 360.85 Td (ar) Tj ET Q q 0 0 0 rg BT 509.65 360.85 Td (get ) Tj ET Q q 0 0 0 rg BT 520.98 360.85 Td (Allocation ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.75 352.85 Td (Range) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 338.27 Td (U.S. equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.50 338.28 Td (42.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 338.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 338.27 Td (47.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 338.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 338.27 Td (36.0% - 54.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 323.27 Td (Non-U.S. equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.50 323.28 Td (19.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 323.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 323.27 Td (21.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 323.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 323.27 Td (16.0% - 24.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 308.27 Td (Fixed income securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.50 308.28 Td (37.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 308.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 308.27 Td (31.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 308.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 308.27 Td (30.0% - 40.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 293.27 Td (Money market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.50 293.28 Td (0.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.00 293.28 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.15 293.27 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 293.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 293.27 Td (0.0% - 10.0%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (The defined benefit pension plans do not have any direct ownership of NACCO common stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 247.10 Td (The fair value of each major category of the Company's pension plan assets are valued using quoted market prices in active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 235.10 Td (markets for identical assets, or Level 1 in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 309.80 235.10 Td (. Following are the values as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.55 235.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.13 235.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 198.60 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 198.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 198.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 198.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 168.60 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 168.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 168.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 168.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 138.60 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.50 138.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 138.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 138.60 59.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 211.60000000000002 m 498.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 211.60000000000002 m 503.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 211.60000000000002 m 562.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 211.60000000000002 m 498.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 198.60000000000002 m 498.5 198.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 211.60000000000002 m 562.5 211.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 198.60000000000002 m 562.5 198.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 198.60000000000002 m 562.5 198.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 138.60000000000002 m 498.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 124.60000000000002 m 498.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 122.60000000000002 m 498.5 122.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 138.60000000000002 m 562.5 138.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 124.60000000000002 m 562.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503.5 122.60000000000002 m 562.5 122.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 488.15 215.83 Td (Level 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 202.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.50 202.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.50 202.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 188.27 Td (U.S. equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 188.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 188.28 Td (14,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 188.27 Td (18,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 173.27 Td (Non-U.S. equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 173.28 Td (6,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 173.27 Td (8,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 158.27 Td (Fixed income securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 158.28 Td (13,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 158.27 Td (12,097) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 143.27 Td (Money market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 143.28 Td (161) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 143.27 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 128.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.41 128.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 128.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 128.28 Td (34,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.00 128.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 128.27 Td (38,527) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 103.10 Td (Postr) Tj ET Q q 0 0 0 rg BT 72.59 103.10 Td (etir) Tj ET Q q 0 0 0 rg BT 87.39 103.10 Td (ement Health Car) Tj ET Q q 0 0 0 rg BT 163.86 103.10 Td (e:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.63 103.10 Td ( ) Tj ET Q q 0 0 0 rg BT 173.95 103.10 Td (The Company also maintains health care plans which provide benefits to grandfathered eligible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 91.10 Td (retired employees. ) Tj ET Q q 0 0 0 rg BT 125.81 91.10 Td (All health care plans of the Company have a cap on the Company's share of the costs. ) Tj ET Q q 0 0 0 rg BT 470.66 91.10 Td (The health care plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 79.10 Td (were amended ef) Tj ET Q q 0 0 0 rg BT 118.11 79.10 Td (fective January 1, 2019 to eliminate the open network structure. ) Tj ET Q q 0 0 0 rg BT 375.63 79.10 Td (The move to network provided benefits will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 67.10 Td (result in cost savings for the Company) Tj ET Q q 0 0 0 rg BT 203.22 67.10 Td (. ) Tj ET Q q 0 0 0 rg BT 208.04 67.10 Td (These plans have no assets. Under the Company's current policy) Tj ET Q q 0 0 0 rg BT 464.68 67.10 Td (, plan benefits are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 55.10 Td (funded at the time they are due to participants. ) Tj ET Q endstream endobj 161 0 obj <> endobj 162 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (The assumptions used in accounting for the postretirement health care plans are set forth below for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.58 692.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 668.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 668.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 668.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 638.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 638.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 638.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 608.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 608.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 608.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 608.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 668.6 m 498.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 668.6 m 562.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 668.6 m 498.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 668.6 m 562.5 668.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 672.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 672.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 672.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 659.17 Td (W) Tj ET Q q 0 0 0 rg BT 62.04 659.17 Td (eighted average discount rates for benefit obligation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 659.33 Td (3.80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 659.33 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 659.17 Td (3.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 659.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 644.17 Td (W) Tj ET Q q 0 0 0 rg BT 62.04 644.17 Td (eighted average discount rates for net periodic benefit cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 644.33 Td (3.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 644.33 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 644.17 Td (3.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 644.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 629.17 Td (Health care cost trend rate assumed for next year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 629.33 Td (6.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 629.33 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 629.17 Td (7.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 629.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 614.17 Td (Rate to which the cost trend rate is assumed to decline \(ultimate trend rate\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.50 614.33 Td (5.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.00 614.33 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 614.17 Td (5.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 614.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 599.17 Td (Y) Tj ET Q q 0 0 0 rg BT 59.22 599.17 Td (ear that the rate reaches the ultimate trend rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.00 599.33 Td (2025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.00 599.17 Td (2025) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 573.10 Td (Set forth below is a detail of the net periodic benefit expense for the postretirement health care plans for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.58 561.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 537.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 537.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 537.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 537.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 507.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 507.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 507.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 507.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 477.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 477.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 477.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 477.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 537.6 m 498.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 537.6 m 562.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 537.6 m 562.5 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 477.6 m 498.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 477.6 m 562.5 477.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 463.6 m 498.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 461.6 m 498.5 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 463.6 m 562.5 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 461.6 m 562.5 461.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 541.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 541.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 541.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 527.27 Td (Service cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 527.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 527.28 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 527.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 527.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 512.27 Td (Interest cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 512.28 Td (98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 512.27 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.27 Td (Amortization of actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 497.28 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 497.27 Td (97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 482.27 Td (Amortization of prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 482.33 Td (\(64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 482.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 482.32 Td (\(17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 467.27 Td (Net periodic benefit expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 467.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 467.28 Td (180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 467.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 467.27 Td (231) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Set forth below is a detail of other changes in plan assets and benefit obligations recognized in other comprehensive income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (\(loss\)for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.57 430.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.16 430.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 406.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 406.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 406.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 406.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 376.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 376.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 376.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 376.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 346.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 346.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 346.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 346.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 406.6 m 498.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 406.6 m 562.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 406.6 m 562.5 406.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 346.6 m 498.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 346.6 m 562.5 346.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 332.6 m 498.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 330.6 m 498.5 330.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 332.6 m 562.5 332.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 330.6 m 562.5 330.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 410.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 410.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 410.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 396.27 Td (Current year actuarial \(gain\) loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 396.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 396.33 Td (\(756) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 396.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 396.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 396.27 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 381.27 Td (Amortization of actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 381.33 Td (\(96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 381.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 381.32 Td (\(97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 381.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 366.27 Td (Current year prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 366.33 Td (\(325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 366.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 366.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 351.27 Td (Amortization of prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 351.28 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 351.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 336.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.41 336.27 Td (otal recognized in other comprehensive \(loss\) income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 336.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 336.33 Td (\(1,1) Tj ET Q q 0 0 0 rg BT 484.63 336.33 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 336.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 336.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 336.27 Td (74) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 163 0 obj <> endobj 164 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (The following sets forth the changes in benefit obligations during the year and the funded status of the postretirement health ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (care at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.86 692.10 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.45 692.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 668.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 668.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 668.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 668.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 638.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 638.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 638.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 608.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 608.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 608.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 608.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 578.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 578.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 578.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 578.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 548.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 548.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 548.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 518.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 518.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 488.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 488.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 488.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 458.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 458.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 458.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 428.60 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 428.60 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 428.60 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 668.6 m 488.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 668.6 m 562.5 668.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 563.6 m 488.5 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 563.6 m 562.5 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 549.6 m 488.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 547.6 m 488.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 549.6 m 562.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 547.6 m 562.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 534.6 m 488.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 532.6 m 488.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 534.6 m 562.5 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 532.6 m 562.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 488.6 m 488.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 488.6 m 562.5 488.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 474.6 m 488.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 472.6 m 488.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 474.6 m 562.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 472.6 m 562.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 413.6 m 488.5 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 413.6 m 562.5 413.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 399.6 m 488.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 397.6 m 488.5 397.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 399.6 m 562.5 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 397.6 m 562.5 397.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 672.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 672.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 672.85 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 658.28 Td (Change in benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 658.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 658.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 643.27 Td (Benefit obligation at beginning of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 643.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 643.28 Td (3,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 643.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 643.27 Td (3,21) Tj ET Q q 0 0 0 rg BT 553.65 643.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 628.27 Td (Service cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 628.28 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 628.27 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 613.27 Td (Interest cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 613.28 Td (98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 613.27 Td (101) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 598.27 Td (Plan amendments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 598.33 Td (\(326) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 598.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 598.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 583.27 Td (Actuarial \(gain\) loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 583.33 Td (\(756) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 583.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 583.27 Td (154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 568.27 Td (Benefits paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 568.33 Td (\(174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 568.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 568.32 Td (\(295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 568.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 553.27 Td (Benefit obligation at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 553.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 553.28 Td (2,1) Tj ET Q q 0 0 0 rg BT 474.65 553.28 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 553.27 Td (3,221) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 538.28 Td (Funded status at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 538.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 538.33 Td (\(2,1) Tj ET Q q 0 0 0 rg BT 474.63 538.33 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 538.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 538.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 538.32 Td (\(3,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 538.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 523.28 Td (Amounts r) Tj ET Q q 0 0 0 rg BT 98.74 523.28 Td (ecognized in the balance sheets consist of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 523.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 523.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 508.27 Td (Current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 508.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 508.33 Td (\(215) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 508.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 508.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 508.32 Td (\(282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 508.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 493.27 Td (Noncurrent liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 493.33 Td (\(1,898) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 493.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 493.32 Td (\(2,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 493.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 478.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 478.33 Td (\(2,1) Tj ET Q q 0 0 0 rg BT 474.63 478.33 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 478.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 478.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 478.32 Td (\(3,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 478.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 463.28 Td (Components of accumulated other) Tj ET Q q 0 0 0 rg BT 199.75 463.28 Td ( compr) Tj ET Q q 0 0 0 rg BT 229.84 463.28 Td (ehensive loss \(income\) consist of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 463.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 463.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 448.27 Td (Actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 448.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 448.28 Td (189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 448.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 448.27 Td (1,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 433.27 Td (Prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 433.33 Td (\(339) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 433.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 433.32 Td (\(78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 433.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 418.27 Td (Deferred taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.30 418.33 Td (\(74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 418.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 418.27 Td (287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 403.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 403.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.30 403.33 Td (\(224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 403.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 403.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 403.27 Td (1,249) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td (Future postretirement health care benefit payments expected to be paid are:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 367.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 367.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 339.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 339.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 311.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 311.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 283.60 432.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 283.60 80.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 283.6 m 562.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 270.6 m 562.5 270.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 268.6 m 562.5 268.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 358.17 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 358.17 Td (215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 344.17 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 344.17 Td (234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 330.17 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 330.17 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 316.17 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 316.17 Td (238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 302.17 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 302.17 Td (232) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 288.17 Td (2024 - 2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 288.17 Td (902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 274.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 274.17 Td (2,071) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 249.10 Td (Defined Contribution Plans:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.12 249.10 Td ( NACCO and its subsidiaries maintain defined contribution \(401\(k\)\) plans for substantially all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 237.10 Td (employees and provide employer matching contributions based on plan provisions. ) Tj ET Q q 0 0 0 rg BT 384.47 237.10 Td (The defined contribution retirement plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 225.10 Td (provide for a minimum employer contribution. Certain plans also permit additional contributions whereby the applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 213.10 Td (company's contribution to participants is determined annually based on a formula that includes the ef) Tj ET Q q 0 0 0 rg BT 453.73 213.10 Td (fect of actual compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 201.10 Td (with tar) Tj ET Q q 0 0 0 rg BT 80.64 201.10 Td (geted operating results and the age and/or compensation of the participants. ) Tj ET Q q 0 0 0 rg BT 384.81 201.10 Td (T) Tj ET Q q 0 0 0 rg BT 390.22 201.10 Td (otal costs, including Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 189.10 Td (contributions, for these plans were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.52 189.10 Td ($2.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.41 189.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.85 189.10 Td ($2.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.74 189.10 Td ( in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.52 189.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.52 189.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.96 189.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.96 189.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 432.62 189.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 165.10 Td (NOTE 15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 165.10 Td (Business Segments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.58 165.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (NACCO is a holding company that operates primarily in the mining industry) Tj ET Q q 0 0 0 rg BT 356.81 141.10 Td (. ) Tj ET Q q 0 0 0 rg BT 361.63 141.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 421.34 141.10 Td (s wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 527.63 141.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (NACoal, is the reportable operating segment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.34 129.10 Td (See Note 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.21 129.10 Td ( for a discussion of the Company's industries and product lines. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (NACCO's non-operating segment, NACCO and Other) Tj ET Q q 0 0 0 rg BT 266.93 117.10 Td (, includes the accounts of the parent company and Bellaire. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.10 Td (Financial information for each of NACCO's reportable segments is presented in the following table. ) Tj ET Q q 0 0 0 rg BT 451.43 96.10 Td (All current operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td (reside in the U.S. ) Tj ET Q q 0 0 0 rg BT 121.47 84.10 Td (The accounting policies of the reportable segments are described ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.32 84.10 Td (in Note 2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.53 84.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 63.10 Td (The majority of NACoal's revenues are generated from its consolidated mining operations and value-added mining services. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 51.10 Td (MLMC's customer) Tj ET Q q 0 0 0 rg BT 125.01 51.10 Td (, Choctaw Generation Limited Partnership, LLLP) Tj ET Q q 0 0 0 rg BT 322.47 51.10 Td (, accounted for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.92 51.10 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.25 51.10 Td ( of NACoal's revenues ) Tj ET Q endstream endobj 165 0 obj <> endobj 166 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (for both of the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.96 704.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.54 704.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.98 704.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.98 704.10 Td (. NAM's lar) Tj ET Q q 0 0 0 rg BT 327.38 704.10 Td (gest customer) Tj ET Q q 0 0 0 rg BT 382.24 704.10 Td (, Cemex Construction Materials of Florida, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (LLC, accounted for approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.34 692.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.67 692.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.11 692.10 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.44 692.10 Td ( of NACoal's revenues for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.18 692.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.76 692.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.20 692.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.20 692.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 680.10 Td (. ) Tj ET Q q 0 0 0 rg BT 102.48 680.10 Td (The loss of or significant reduction in sales to any key customer could result in significant decreases in NACoal's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.10 Td (revenue and profitability) Tj ET Q q 0 0 0 rg BT 148.20 668.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (The management fees char) Tj ET Q q 0 0 0 rg BT 157.26 647.10 Td (ged to NACoal represent an allocation of corporate overhead of the parent company) Tj ET Q q 0 0 0 rg BT 492.59 647.10 Td (. ) Tj ET Q q 0 0 0 rg BT 497.41 647.10 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (believes the allocation method is reasonable. Prior to the spin-of) Tj ET Q q 0 0 0 rg BT 306.97 635.10 Td (f of HBBHC, NACCO received management fees from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (HBBHC of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.78 623.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.67 623.10 Td ( for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.14 623.10 Td (December31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.72 623.10 Td (. In connection with the spin-of) Tj ET Q q 0 0 0 rg BT 428.07 623.10 Td (f of HBBHC, the Company and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (HBBHC entered into a ) Tj ET Q q 0 0 0 rg BT 143.69 611.10 Td (TSA. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.58 611.10 Td (See Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.46 611.10 Td ( for further discussion of the spin-of) Tj ET Q q 0 0 0 rg BT 355.69 611.10 Td (f and ) Tj ET Q q 0 0 0 rg BT 378.28 611.10 Td (TSA.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 578.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 578.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 578.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 578.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 548.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 548.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 548.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 548.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 518.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 518.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 518.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 518.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 488.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 488.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 488.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 488.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 458.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 458.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 458.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 428.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 428.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 428.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 428.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 398.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 398.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 398.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 398.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 368.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 368.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 368.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 368.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 578.6 m 498.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 578.6 m 562.5 578.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 549.6 m 498.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 547.6 m 498.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 549.6 m 562.5 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 547.6 m 562.5 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 503.6 m 498.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 489.6 m 498.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 487.6 m 498.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 503.6 m 562.5 503.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 489.6 m 562.5 489.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 487.6 m 562.5 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 474.6 m 498.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 472.6 m 498.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 474.6 m 562.5 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 472.6 m 562.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 428.6 m 498.5 428.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 414.6 m 498.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 412.6 m 498.5 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 428.6 m 562.5 428.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 414.6 m 562.5 414.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 412.6 m 562.5 412.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 368.6 m 498.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 368.6 m 562.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 368.6 m 498.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 354.6 m 498.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 352.6 m 498.5 352.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 368.6 m 562.5 368.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 354.6 m 562.5 354.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 352.6 m 562.5 352.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 582.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 582.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 582.85 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 568.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 568.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 553.28 Td (Revenues fr) Tj ET Q q 0 0 0 rg BT 103.73 553.28 Td (om external customers) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 553.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 553.28 Td (135,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 553.27 Td (104,778) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 538.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 65.13 538.28 Td (oss pr) Tj ET Q q 0 0 0 rg BT 90.23 538.28 Td (ofit \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 538.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 523.27 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 523.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 523.28 Td (30,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 523.27 Td (17,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 508.27 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 508.33 Td (\(369) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 508.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 508.32 Td (\(279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 508.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 493.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 493.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 493.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 493.28 Td (29,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 493.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 493.27 Td (16,919) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 478.28 Td (Earnings of unconsolidated operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 478.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 478.28 Td (64,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 478.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 478.27 Td (61,361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 463.28 Td (Selling, general and administrative expenses, including ) Tj ET Q q 0 0 0 rg BT 288.86 463.28 Td (Amortization of intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 463.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 463.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 448.27 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 448.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 448.28 Td (45,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 448.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 448.27 Td (42,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 433.27 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 433.28 Td (6,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 433.27 Td (7,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 418.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 418.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 418.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 418.28 Td (52,230) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 418.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 418.27 Td (49,614) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 403.28 Td (Operating pr) Tj ET Q q 0 0 0 rg BT 109.21 403.28 Td (ofit \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 403.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 403.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 388.27 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 388.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 388.28 Td (50,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 388.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 388.27 Td (39,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 373.27 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 373.33 Td (\(6,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 373.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 373.32 Td (\(6,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 373.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 358.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.41 358.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 358.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 358.28 Td (43,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 358.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 358.27 Td (32,814) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 328.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 328.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 328.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 328.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 298.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 298.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 298.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 298.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 268.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 268.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 268.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 268.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 238.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 238.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 238.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 238.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 208.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 208.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 208.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 208.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 178.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 178.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 178.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 178.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 283.6 m 498.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 283.6 m 562.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 283.6 m 498.5 283.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 269.6 m 498.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 267.6 m 498.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 269.6 m 562.5 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 267.6 m 562.5 267.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 223.60000000000002 m 498.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 223.60000000000002 m 562.5 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 209.60000000000002 m 498.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 207.60000000000002 m 498.5 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 209.60000000000002 m 562.5 209.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 207.60000000000002 m 562.5 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 163.60000000000002 m 498.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 149.60000000000002 m 498.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 147.60000000000002 m 498.5 147.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 163.60000000000002 m 562.5 163.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 149.60000000000002 m 562.5 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 147.60000000000002 m 562.5 147.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 333.28 Td (T) Tj ET Q q 0 0 0 rg BT 59.21 333.28 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 333.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 333.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 318.27 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 318.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 318.28 Td (274,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 318.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 318.27 Td (277,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 303.27 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 303.28 Td (120,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 303.27 Td (135,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 288.27 Td (Eliminations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 288.33 Td (\(18,763) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 288.28 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 288.32 Td (\(23,420) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 288.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 273.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 273.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 273.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 273.28 Td (376,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 273.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 273.27 Td (389,552) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 258.28 Td (Depr) Tj ET Q q 0 0 0 rg BT 74.57 258.28 Td (eciation, depletion and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 258.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 258.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 243.27 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 243.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 243.28 Td (14,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 243.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 243.27 Td (12,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 228.27 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 228.28 Td (87) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 228.27 Td (323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 213.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.76 213.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 213.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 213.28 Td (14,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 213.27 Td (12,767) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 198.28 Td (Capital expenditur) Tj ET Q q 0 0 0 rg BT 133.66 198.28 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 198.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 183.27 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 183.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 183.28 Td (20,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 183.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 183.27 Td (15,692) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 168.27 Td (NACCO and Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 168.28 Td (131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 168.27 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 153.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.41 153.27 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 153.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 153.28 Td (20,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 153.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 153.27 Td (15,704) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 167 0 obj <> endobj 168 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 704.25 Td (NOTE 16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 704.25 Td (Par) Tj ET Q q 0 0 0 rg BT 116.21 704.25 Td (ent Company Condensed Balance Sheets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.56 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.25 Td (The condensed balance sheets of NACCO, the parent company) Tj ET Q q 0 0 0 rg BT 301.77 680.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.48 680.25 Td (December31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.07 680.25 Td ( are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 656.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 656.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 656.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 656.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 626.75 368.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 626.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 626.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 626.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 597.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 597.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 597.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 597.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 567.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 567.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 567.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 567.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 537.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 537.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 537.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 537.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 507.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 507.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 507.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 507.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 477.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 477.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 477.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 477.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 447.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 447.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 447.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 447.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 417.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 417.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 417.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 387.75 368.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 387.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.50 387.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 387.75 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 656.75 m 488.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 656.75 m 562.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 537.75 m 488.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 537.75 m 562.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 492.75 m 488.5 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 492.75 m 562.5 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 478.75 m 488.5 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 476.75 m 488.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 478.75 m 562.5 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 476.75 m 562.5 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 372.75 m 488.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 372.75 m 562.5 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 358.75 m 488.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 356.75 m 488.5 356.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 358.75 m 562.5 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 356.75 m 562.5 356.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 661.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.00 660.98 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 519.00 661.00 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 646.43 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 646.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 646.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 631.42 Td (Cash and cash equivalents) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 631.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 631.43 Td (84,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 631.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 631.42 Td (94,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 617.32 Td (Accounts receivable from af) Tj ET Q q 0 0 0 rg BT 166.37 617.32 Td (filiates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 617.43 Td (2,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 617.32 Td (9,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 602.42 Td (Current intercompany accounts receivable, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 602.43 Td (868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 602.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 587.42 Td (Other current assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 587.43 Td (4,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 587.42 Td (1,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 572.42 Td (Investment in subsidiaries:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 572.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 572.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 557.42 Td (NACoal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 557.43 Td (173,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 557.42 Td (141,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 542.42 Td (Other) Tj ET Q q 0 0 0 rg BT 87.37 542.42 Td (, primarily Bellaire) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 542.43 Td (12,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 542.42 Td (13,340) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 527.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 527.43 Td (185,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 527.42 Td (154,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 512.42 Td (Property) Tj ET Q q 0 0 0 rg BT 87.11 512.42 Td (, plant and equipment, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 512.43 Td (241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 512.42 Td (310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.42 Td (Other non-current assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 497.43 Td (7,851) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 497.42 Td (9,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 482.42 Td (T) Tj ET Q q 0 0 0 rg BT 82.76 482.42 Td (otal ) Tj ET Q q 0 0 0 rg BT 99.63 482.42 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 482.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 482.43 Td (286,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 482.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 482.42 Td (269,923) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 467.43 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 116.65 467.43 Td (AND ST) Tj ET Q q 0 0 0 rg BT 152.86 467.43 Td (OCKHOLDERS) Tj ET Q q 0 0 0 rg BT 227.13 467.43 Td ( EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.00 467.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 467.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 452.42 Td (Current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 452.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 452.43 Td (5,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 452.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 452.42 Td (7,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 437.42 Td (Current intercompany accounts payable, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 437.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 437.42 Td (1) Tj ET Q q 0 0 0 rg BT 536.15 437.42 Td (1,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 422.42 Td (Note payable to Bellaire) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 422.43 Td (17,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 422.42 Td (17,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 407.42 Td (Deferred compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 407.43 Td (12,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 407.42 Td (12,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 392.42 Td (Other non-current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 392.43 Td (267) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 392.42 Td (201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 377.42 Td (Stockholders) Tj ET Q q 0 0 0 rg BT 107.80 377.42 Td ( equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 377.43 Td (250,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 377.42 Td (219,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 362.42 Td (T) Tj ET Q q 0 0 0 rg BT 82.41 362.42 Td (otal Liabilities and Stockholders) Tj ET Q q 0 0 0 rg BT 214.70 362.42 Td ( Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 362.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 362.43 Td (286,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 362.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 362.42 Td (269,923) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 337.25 Td (The credit agreement at NACoal allows for the transfer of assets to NACCO under certain circumstances. ) Tj ET Q q 0 0 0 rg BT 474.39 337.25 Td (The amount of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 325.25 Td (NACCO's investment in NACoal and Bellaire that was restricted at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.74 325.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.33 325.25 Td ( totaled approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.80 325.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.69 325.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 313.25 Td (The amount of unrestricted cash available to NACCO included in Investment in subsidiaries was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.78 313.25 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.68 313.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 301.25 Td (. Dividends and management fees from its subsidiaries are the primary sources of cash for NACCO.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (NOTE 17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 268.25 Td (Unconsolidated Subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.70 268.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (NACoal's wholly owned unconsolidated subsidiaries each meet the definition of a variable interest entity) Tj ET Q q 0 0 0 rg BT 469.10 244.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.10 244.25 Td (See Note 1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.97 244.25 Td ( for a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (discussion of these entities. ) Tj ET Q q 0 0 0 rg BT 161.75 232.25 Td (The income taxes resulting from the operations of the unconsolidated subsidiaries are solely the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (responsibility of the Company) Tj ET Q q 0 0 0 rg BT 170.73 220.25 Td (. ) Tj ET Q q 0 0 0 rg BT 175.55 220.25 Td (The pre-tax income from the unconsolidated subsidiaries, excluding NoDak, is reported on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (line Earnings of unconsolidated operations in the Consolidated Statements of Operations, with related income taxes included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (in the provision for income taxes. ) Tj ET Q q 0 0 0 rg BT 186.73 196.25 Td (The Company has included the pre-tax earnings of the unconsolidated subsidiaries, excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (NoDak, above operating profit as they are an integral component of the Company's business and operating results. ) Tj ET Q q 0 0 0 rg BT 509.56 184.25 Td (The pre-tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (income from NoDak is reported on the line "Incomefrom other unconsolidated af) Tj ET Q q 0 0 0 rg BT 377.13 172.25 Td (filiates" in the "Other \(income\) expense" ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (section of the Consolidated Statements of Operations, with the related income taxes included in the provision for income taxes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (The investment in the unconsolidated subsidiaries and related tax positions totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.87 136.25 Td ($20.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.76 136.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.20 136.25 Td ($16.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.09 136.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 124.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 124.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.02 124.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 220.68 124.25 Td (. ) Tj ET Q q 0 0 0 rg BT 225.50 124.25 Td (The Company's maximum risk of loss relating to these entities is limited to its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (invested capital, which was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.47 112.25 Td ($4.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.36 112.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.80 112.25 Td ($5.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.69 112.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.90 112.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.49 112.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.93 112.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.93 112.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 462.59 112.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (NACoal is a party to certain guarantees related to Coyote Creek. Under certain circumstances of default or termination of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (Coyote Creek) Tj ET Q q 0 0 0 rg BT 108.04 76.25 Td (s Lignite Sales ) Tj ET Q q 0 0 0 rg BT 168.87 76.25 Td (Agreement \(LSA\), NACoal would be obligated for payment of a "make-whole" amount to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (Coyote Creek) Tj ET Q q 0 0 0 rg BT 108.04 64.25 Td (s third party lenders. ) Tj ET Q q 0 0 0 rg BT 192.56 64.25 Td (The make-whole amount is based on the excess, if any) Tj ET Q q 0 0 0 rg BT 419.06 64.25 Td (, of the discounted value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (remaining scheduled debt payments over the principal amount. In addition, in the event Coyote Creek) Tj ET Q q 0 0 0 rg BT 459.89 52.25 Td (s LSA) Tj ET Q q 0 0 0 rg BT 484.62 52.25 Td ( is terminated on ) Tj ET Q endstream endobj 169 0 obj <> endobj 170 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 748.60 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 86.22 748.60 Td (T) Tj ET Q q 0 0 0 rg BT 92.71 748.60 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 162.81 748.60 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 241.99 748.60 Td ( ST) Tj ET Q q 0 0 0 rg BT 255.98 748.60 Td (A) Tj ET Q q 0 0 0 rg BT 262.46 748.60 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 736.60 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 178.08 736.60 Td (AND SUBSIDIARIES) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 724.60 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.97 724.60 Td (abular ) Tj ET Q q 0 0 0 rg BT 86.96 724.60 Td (Amounts in Thousands, Except Per Shar) Tj ET Q q 0 0 0 rg BT 248.25 724.60 Td (e and Per) Tj ET Q q 0 0 0 rg BT 286.75 724.60 Td (centage Data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 704.10 Td (or after January 1, 2024 by Coyote Creek) Tj ET Q q 0 0 0 rg BT 218.29 704.10 Td (s customers, NACoal is obligated to purchase Coyote Creek) Tj ET Q q 0 0 0 rg BT 461.29 704.10 Td (s dragline and rolling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 692.10 Td (stock for the then net book value of those assets. ) Tj ET Q q 0 0 0 rg BT 246.16 692.10 Td (T) Tj ET Q q 0 0 0 rg BT 251.57 692.10 Td (o date, no payments have been required from NACoal since the inception of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 680.10 Td (these guarantees. ) Tj ET Q q 0 0 0 rg BT 120.62 680.10 Td (The Company believes that the likelihood NACoal would be required to perform under the guarantees is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 668.10 Td (remote, and no amounts related to these guarantees have been recorded.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (Summarized financial information for the unconsolidated subsidiaries is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 623.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 623.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 623.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 623.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 593.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 593.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 593.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 593.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 563.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 563.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 563.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 563.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 533.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 533.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 533.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 533.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 503.60 388.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 503.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 503.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 503.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 623.6 m 498.5 623.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 623.6 m 562.5 623.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 53.00 627.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 460.00 627.83 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.00 627.85 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 613.28 Td (Statement of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 613.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 613.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 598.27 Td (Revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 598.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 598.28 Td (766,558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 598.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 598.27 Td (791,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 583.27 Td (Gross profit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 583.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 583.28 Td (76,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 583.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 583.27 Td (87,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 568.27 Td (Income before income taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 568.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 568.28 Td (66,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 568.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 568.27 Td (62,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 553.27 Td (Net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 553.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 553.28 Td (55,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 553.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 553.27 Td (55,268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 538.28 Td (Balance Sheet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 523.27 Td (Current assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 523.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 523.28 Td (182,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 523.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 523.27 Td (179,316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 508.27 Td (Non-current assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 508.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 508.28 Td (860,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 508.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 508.27 Td (883,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 493.27 Td (Current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 493.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 493.28 Td (146,788) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 493.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 493.27 Td (175,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 478.27 Td (Non-current liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 478.28 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 478.28 Td (891,175) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 478.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 478.27 Td (882,200) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 453.10 Td (Revenue includes all mine operating costs that are reimbursed by the customers of the unconsolidated subsidiaries as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 441.10 Td (the compensation per ton of coal, heating unit \(MMBtu\) or yard of limestone delivered. Reimbursed costs have of) Tj ET Q q 0 0 0 rg BT 505.54 441.10 Td (fsetting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 429.10 Td (expenses and have no impact on income before taxes. Income before income taxes represents the earnings of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 417.10 Td (unconsolidated operations and the income from other unconsolidated af) Tj ET Q q 0 0 0 rg BT 336.40 417.10 Td (filiates. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (NACoal received dividends of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.41 396.10 Td ($56.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.30 396.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.74 396.10 Td ($54.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.63 396.10 Td ( from the unconsolidated subsidiaries in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.82 396.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.82 396.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.26 396.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.26 396.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 384.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 357.10 Td (NOTE 18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.84 357.10 Td (Related Party ) Tj ET Q q 0 0 0 rg BT 162.30 357.10 Td (T) Tj ET Q q 0 0 0 rg BT 168.23 357.10 Td (ransactions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.12 357.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 333.10 Td (One of the Company's directors is a retired Jones Day partner) Tj ET Q q 0 0 0 rg BT 295.62 333.10 Td (. Legal services rendered by Jones Day approximated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.93 333.10 Td ($2.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.82 333.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 321.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 321.10 Td ($3.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.83 321.10 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.18 321.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.77 321.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.21 321.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.21 321.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 367.87 321.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (In connection with the spin-of) Tj ET Q q 0 0 0 rg BT 170.35 300.10 Td (f of HBBHC, the Company and HBBHC entered into a ) Tj ET Q q 0 0 0 rg BT 393.19 300.10 Td (TSA. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.08 300.10 Td (See Note 3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.96 300.10 Td ( for further discussion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.10 Td (the spin-of) Tj ET Q q 0 0 0 rg BT 92.87 288.10 Td (f and ) Tj ET Q q 0 0 0 rg BT 115.45 288.10 Td (TSA.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (Alfred M. Rankin, Jr) Tj ET Q q 0 0 0 rg BT 133.05 264.10 Td (. retired as the President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 326.41 264.10 Td (ficer of NACCO ef) Tj ET Q q 0 0 0 rg BT 403.15 264.10 Td (fective September 30, 2017. In order to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (facilitate a smooth transition, Mr) Tj ET Q q 0 0 0 rg BT 180.81 252.10 Td (. Rankin continues to serve as the Chairman of the Board of Directors of NACCO and Mr) Tj ET Q q 0 0 0 rg BT 539.34 252.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (Rankin supports the President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 266.72 240.10 Td (ficer of NACCO upon request under the terms of a consulting agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (Fees for consulting services rendered by Mr) Tj ET Q q 0 0 0 rg BT 225.51 228.10 Td (. Rankin approximated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.38 228.10 Td ($0.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.27 228.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.71 228.10 Td ($0.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.60 228.10 Td ( for the years ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 216.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.02 216.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.02 216.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 220.68 216.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 195.10 Td (Hyster) Tj ET Q q 0 0 0 rg BT 76.46 195.10 Td (-Y) Tj ET Q q 0 0 0 rg BT 86.01 195.10 Td (ale Materials Handling, Inc. \("Hyster) Tj ET Q q 0 0 0 rg BT 234.29 195.10 Td (-Y) Tj ET Q q 0 0 0 rg BT 243.84 195.10 Td (ale"\) is a former subsidiary of the Company that was spun-of) Tj ET Q q 0 0 0 rg BT 487.68 195.10 Td (f to stockholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 183.10 Td (in 2012. In the ordinary course of business, NACoal leases or buys Hyster) Tj ET Q q 0 0 0 rg BT 346.41 183.10 Td (-Y) Tj ET Q q 0 0 0 rg BT 355.96 183.10 Td (ale lift trucks. ) Tj ET Q q 0 0 0 rg BT 413.54 183.10 Td (The terms may not be comparable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 171.10 Td (terms that would be obtained in a transaction between unaf) Tj ET Q q 0 0 0 rg BT 285.58 171.10 Td (filiated parties.) Tj ET Q endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.40 740.25 Td (SCHEDULE ICONDENSED FINANCIAL) Tj ET Q q 0 0 0 rg BT 323.21 740.25 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 373.85 740.25 Td (TION OF) Tj ET Q q 0 0 0 rg BT 415.43 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 417.75 740.25 Td (THE P) Tj ET Q q 0 0 0 rg BT 446.73 740.25 Td (ARENT) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.55 728.25 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 322.63 728.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.05 716.25 Td (P) Tj ET Q q 0 0 0 rg BT 185.42 716.25 Td (ARENT) Tj ET Q q 0 0 0 rg BT 220.24 716.25 Td ( COMP) Tj ET Q q 0 0 0 rg BT 252.55 716.25 Td (ANY) Tj ET Q q 0 0 0 rg BT 273.84 716.25 Td ( CONDENSED BALANCE SHEETS) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 654.75 348.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 654.75 80.00 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2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 402.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 402.47 Td (\(2,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 402.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 387.42 Td (Current period pension and postretirement plan adjustment, net of $14 tax benefit in 2018 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 377.42 Td (net of $440 tax expense in 2017, respectively) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 377.48 Td (\(301) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 377.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 377.42 Td (749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 362.42 Td (Reclassification of pension and postretirement adjustments into earnings, net of $85 and $363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 352.42 Td (tax benefit in 2018 and 2017, respectively) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 352.43 Td (489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 352.42 Td (582) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 337.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 337.42 Td (otal other comprehensive income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 337.43 Td (188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 337.42 Td (3,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.42 Td (Comprehensive Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 322.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 322.43 Td (34,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 322.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 322.42 Td (33,401) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.25 Td (See Notes to Parent Company Condensed Financial Statements.) 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rg BT 468.80 584.48 Td (\(5,496) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 584.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 584.42 Td (7,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 569.42 Td (Net cash \(used for\) provided by operating activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 569.48 Td (\(1) Tj ET Q q 0 0 0 rg BT 472.13 569.48 Td (1,392) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 569.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 569.42 Td (839) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 554.43 Td (Investing ) Tj ET Q q 0 0 0 rg BT 94.68 554.43 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 554.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 554.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 539.42 Td (Proceeds from the sale of assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 539.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 539.42 Td (834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 524.42 Td (Expenditures for property) Tj ET Q q 0 0 0 rg BT 167.98 524.42 Td (, plant and equipment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 524.48 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 524.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.30 524.47 Td (\(12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 524.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 509.42 Td (Net cash \(used for\) provided by investing activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 509.48 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 509.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.65 509.42 Td (822) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 494.43 Td (Financing ) Tj ET Q q 0 0 0 rg BT 98.01 494.43 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 494.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 494.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 479.42 Td (Dividends received from subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 479.43 Td (8,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 479.42 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 464.42 Td (Dividends received from HBBHC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 464.43 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 464.42 Td (38,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 449.42 Td (Notes payable to Bellaire) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.30 449.48 Td (\(551) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 449.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.30 449.47 Td (\(250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 449.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 434.42 Td (Purchase of treasury shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 434.48 Td (\(1,294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 434.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 434.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 419.42 Td (Cash dividends paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 419.48 Td (\(4,578) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 419.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 419.47 Td (\(6,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 419.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 404.42 Td (Net cash provided by financing activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 404.43 Td (1,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 404.42 Td (35,068) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 389.43 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 389.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 389.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 374.42 Td (\(Decrease\) increase for the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 374.48 Td (\(9,827) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 374.43 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 374.42 Td (36,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 359.42 Td (Balance at the beginning of the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 359.43 Td (94,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 359.42 Td (57,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 344.42 Td (Balance at the end of the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 344.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 344.43 Td (84,819) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 344.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 344.42 Td (94,646) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (See Notes to Parent Company Condensed Financial Statements.) Tj ET Q endstream endobj 177 0 obj <> endobj 178 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 31.60 Td (F-37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.40 740.25 Td (SCHEDULE ICONDENSED FINANCIAL) Tj ET Q q 0 0 0 rg BT 323.21 740.25 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 373.85 740.25 Td (TION OF) Tj ET Q q 0 0 0 rg BT 415.43 740.25 Td ( ) Tj ET Q q 0 0 0 rg BT 417.75 740.25 Td (THE P) Tj ET Q q 0 0 0 rg BT 446.73 740.25 Td (ARENT) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.55 728.25 Td (NACCO INDUSTRIES, INC. ) Tj ET Q q 0 0 0 rg BT 322.63 728.25 Td (AND SUBSIDIARIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.95 716.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 172.17 716.25 Td (T) Tj ET Q q 0 0 0 rg BT 178.66 716.25 Td (O P) Tj ET Q q 0 0 0 rg BT 194.30 716.25 Td (ARENT) Tj ET Q q 0 0 0 rg BT 229.13 716.25 Td ( COMP) Tj ET Q q 0 0 0 rg BT 261.43 716.25 Td (ANY) Tj ET Q q 0 0 0 rg BT 282.73 716.25 Td ( CONDENSED FINANCIAL) Tj ET Q q 0 0 0 rg BT 406.63 716.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 420.62 716.25 Td (A) Tj ET Q q 0 0 0 rg BT 427.10 716.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.75 704.25 Td (FOR ) Tj ET Q q 0 0 0 rg BT 201.18 704.25 Td (THE ) Tj ET Q q 0 0 0 rg BT 224.42 704.25 Td (YEAR ENDED ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.76 704.25 Td (DECEMBER31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.05 704.25 Td ( ) Tj ET Q q 0 0 0 rg BT 390.00 704.25 Td (AND ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.16 704.25 Td (2017) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.25 Td (The notes to Consolidated Financial Statements, incorporated in Item15 of this Form 10-K, are hereby incorporated by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.25 Td (reference into these Notes to Parent Company Condensed Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 650.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.29 650.25 Td (A) Tj ET Q q 0 0 0 rg BT 86.96 650.25 Td ( ) Tj ET Q q 0 0 0 rg BT 101.41 650.25 Td (ACCOUNTING POLICIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.25 Td (NACCO Industries, Inc. \(the parent company or NACCO\) is a holding company that operates primarily in the mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.25 Td (industry) Tj ET Q q 0 0 0 rg BT 82.13 617.25 Td (. In the Parent Company Condensed Financial Statements, NACCO's investment in subsidiaries is stated at cost plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.25 Td (equity in undistributed earnings of subsidiaries since the date of acquisition. NACCO's share of net income of unconsolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 593.25 Td (subsidiaries is included in net income using the equity method. Parent Company financial statements should be read in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 581.25 Td (conjunction with the Company's consolidated financial statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 560.25 Td (NOTE B LONG-TERM OBLIGA) Tj ET Q q 0 0 0 rg BT 207.06 560.25 Td (TIONS ) Tj ET Q q 0 0 0 rg BT 240.13 560.25 Td (AND GUARANTEES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.25 Td ( It is NACCO's policy not to guarantee the debt of NACoal.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 518.25 Td (NOTE C UNRESTRICTED CASH) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.25 Td (The amount of unrestricted cash available to NACCO, included in Investment in subsidiaries, was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.78 497.25 Td ($0.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.68 497.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 485.25 Td ( and was in addition to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.62 485.25 Td ($84.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.51 485.25 Td (of cash included in the Parent Company Condensed Balance Sheet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.72 473.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.30 473.25 Td (.) 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0 rg BT 399.00 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 611.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 611.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.00 596.43 Td (Deferr) Tj ET Q q 0 0 0 rg BT 93.13 596.43 Td (ed tax valuation allowances) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.00 596.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.10 596.43 Td (13,579) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.00 596.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.65 596.43 Td (639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.00 596.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 596.43 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 596.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.00 596.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.10 596.43 Td (14,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.00 581.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 581.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 566.42 Td (Reserves deducted from asset accounts:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 566.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 551.42 Td (Deferred tax valuation allowances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 551.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.10 551.42 Td (12,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.00 551.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.65 551.42 Td (699) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 551.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.30 551.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 551.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 551.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 551.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.10 551.42 Td (13,579) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (\(A\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.25 Td (Balances which are not required to be presented and those which are immaterial have been omitted.) Tj ET Q endstream endobj 181 0 obj <> endobj 182 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 742.25 Td (Exhibit 21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.35 718.25 Td (SUBSIDIARIES OF) Tj ET Q q 0 0 0 rg BT 284.95 718.25 Td ( NACCO INDUSTRIES, INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (The following is a list of active subsidiaries as of the date of the filing with the Securities and Exchange Commission of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Annual ) Tj ET Q q 0 0 0 rg BT 81.94 682.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 111.66 682.25 Td (on ) Tj ET Q q 0 0 0 rg BT 124.16 682.25 Td (Form10) Tj ET Q /GS0 gs q 5.00 0 0 10.09 158.33 680.09 cm /I22 Do Q q 0 0 0 rg BT 163.33 682.25 Td (K ) Tj ET Q q 0 0 0 rg BT 173.05 682.25 Td (to ) Tj ET Q q 0 0 0 rg BT 183.33 682.25 Td (which ) Tj ET Q q 0 0 0 rg BT 210.26 682.25 Td (this ) Tj ET Q q 0 0 0 rg BT 227.21 682.25 Td (is ) Tj ET Q q 0 0 0 rg BT 236.38 682.25 Td (an ) Tj ET Q q 0 0 0 rg BT 248.32 682.25 Td (Exhibit. ) Tj ET Q q 0 0 0 rg BT 282.76 682.25 Td ( ) Tj ET Q q 0 0 0 rg BT 285.26 682.25 Td (Except ) Tj ET Q q 0 0 0 rg BT 315.53 682.25 Td (as ) Tj ET Q q 0 0 0 rg BT 326.36 682.25 Td (noted, ) Tj ET Q q 0 0 0 rg BT 353.57 682.25 Td (all ) Tj ET Q q 0 0 0 rg BT 366.07 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 376.90 682.25 Td (these ) Tj ET Q q 0 0 0 rg BT 399.95 682.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 449.66 682.25 Td (are ) Tj ET Q q 0 0 0 rg BT 464.37 682.25 Td (wholly ) Tj ET Q q 0 0 0 rg BT 494.65 682.25 Td (owned, ) Tj ET Q q 0 0 0 rg BT 526.31 682.25 Td (directly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (or indirectly) Tj ET Q q 0 0 0 rg BT 98.50 670.25 Td (.) Tj ET Q BT /F2 9.00 Tf ET 0 0 0 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 69.5 649.746337890625 m 91.9912109375 649.746337890625 l s q 0 0 0 rg BT 69.50 651.15 Td (Name) Tj ET Q BT /F2 9.00 Tf ET 0 0 0 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 438.5 649.746337890625 m 492.5 649.746337890625 l s q 0 0 0 rg BT 438.50 651.15 Td (Incorporation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 627.01 Td (America ) Tj ET Q q 0 0 0 rg BT 102.73 627.01 Td (Lignite ) Tj ET Q q 0 0 0 rg BT 130.98 627.01 Td (Ener) Tj ET Q q 0 0 0 rg BT 147.88 627.01 Td (gy ) Tj ET Q q 0 0 0 rg BT 159.05 627.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 627.01 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 475.23 627.01 Td (\(50%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 615.01 Td (Bellaire ) Tj ET Q q 0 0 0 rg BT 100.24 615.01 Td (Corporation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 615.01 Td (Ohio) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 603.01 Td (Bisti ) Tj ET Q q 0 0 0 rg BT 88.76 603.01 Td (Fuels ) Tj ET Q q 0 0 0 rg BT 110.51 603.01 Td (Company) Tj ET Q q 0 0 0 rg BT 145.22 603.01 Td (, ) Tj ET Q q 0 0 0 rg BT 149.42 603.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 603.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 591.01 Td (C&H ) Tj ET Q q 0 0 0 rg BT 91.25 591.01 Td (Mining ) Tj ET Q q 0 0 0 rg BT 120.01 591.01 Td (Company) Tj ET Q q 0 0 0 rg BT 154.71 591.01 Td (, ) Tj ET Q q 0 0 0 rg BT 158.92 591.01 Td (Inc.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 591.01 Td (Alabama) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 579.01 Td (Caddo ) Tj ET Q q 0 0 0 rg BT 95.25 579.01 Td (Creek ) Tj ET Q q 0 0 0 rg BT 118.99 579.01 Td (Resources ) Tj ET Q q 0 0 0 rg BT 158.23 579.01 Td (Company) Tj ET Q q 0 0 0 rg BT 192.93 579.01 Td (, ) Tj ET Q q 0 0 0 rg BT 197.14 579.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 579.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 567.01 Td (Camino ) Tj ET Q q 0 0 0 rg BT 100.25 567.01 Td (Real ) Tj ET Q q 0 0 0 rg BT 118.99 567.01 Td (Fuels, ) Tj ET Q q 0 0 0 rg BT 142.99 567.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 567.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 555.01 Td (Centennial ) Tj ET Q q 0 0 0 rg BT 110.74 555.01 Td (Natural ) Tj ET Q q 0 0 0 rg BT 139.98 555.01 Td (Resources, ) Tj ET Q q 0 0 0 rg BT 181.46 555.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 555.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 543.01 Td (Coyote ) Tj ET Q q 0 0 0 rg BT 97.75 543.01 Td (Creek ) Tj ET Q q 0 0 0 rg BT 121.49 543.01 Td (Mining ) Tj ET Q q 0 0 0 rg BT 150.24 543.01 Td (Company) Tj ET Q q 0 0 0 rg BT 184.95 543.01 Td (, ) Tj ET Q q 0 0 0 rg BT 189.15 543.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 543.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 531.01 Td (Demery ) Tj ET Q q 0 0 0 rg BT 100.74 531.01 Td (Resources ) Tj ET Q q 0 0 0 rg BT 139.98 531.01 Td (Company) Tj ET Q q 0 0 0 rg BT 174.68 531.01 Td (, ) Tj ET Q q 0 0 0 rg BT 178.89 531.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 531.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 519.01 Td (The ) Tj ET Q q 0 0 0 rg BT 85.74 519.01 Td (Coteau ) Tj ET Q q 0 0 0 rg BT 113.48 519.01 Td (Properties ) Tj ET Q q 0 0 0 rg BT 152.23 519.01 Td (Company) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 519.01 Td (Ohio) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 507.01 Td (The ) Tj ET Q q 0 0 0 rg BT 85.74 507.01 Td (Falkirk ) Tj ET Q q 0 0 0 rg BT 113.99 507.01 Td (Mining ) Tj ET Q q 0 0 0 rg BT 142.74 507.01 Td (Company) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 507.01 Td (Ohio) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 495.01 Td (GRENAC, ) Tj ET Q q 0 0 0 rg BT 111.00 495.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 495.01 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 475.23 495.01 Td (\(50%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 483.01 Td (Liberty ) Tj ET Q q 0 0 0 rg BT 98.24 483.01 Td (Fuels ) Tj ET Q q 0 0 0 rg BT 119.99 483.01 Td (Company) Tj ET Q q 0 0 0 rg BT 154.70 483.01 Td (, ) Tj ET Q q 0 0 0 rg BT 158.91 483.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 483.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 471.01 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 112.76 471.01 Td (Lignite ) Tj ET Q q 0 0 0 rg BT 141.01 471.01 Td (Mining ) Tj ET Q q 0 0 0 rg BT 169.76 471.01 Td (Company) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 471.01 Td (T) Tj ET Q q 0 0 0 rg BT 443.68 471.01 Td (exas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 459.01 Td (Mitigation ) Tj ET Q q 0 0 0 rg BT 109.75 459.01 Td (Resources ) Tj ET Q q 0 0 0 rg BT 148.99 459.01 Td (of ) Tj ET Q q 0 0 0 rg BT 158.74 459.01 Td (North ) Tj ET Q q 0 0 0 rg BT 181.73 459.01 Td (America, ) Tj ET Q q 0 0 0 rg BT 216.97 459.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 459.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 447.01 Td (Mitigate ) Tj ET Q q 0 0 0 rg BT 102.16 447.01 Td (T) Tj ET Q q 0 0 0 rg BT 107.26 447.01 Td (exas, ) Tj ET Q q 0 0 0 rg BT 127.44 447.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 447.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 435.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 435.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 435.01 Td (Corkscrew) Tj ET Q q 0 0 0 rg BT 136.69 435.01 Td (, ) Tj ET Q q 0 0 0 rg BT 140.90 435.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 435.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 423.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 423.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 423.01 Td (CSA, ) Tj ET Q q 0 0 0 rg BT 120.01 423.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 423.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 411.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 411.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 411.01 Td (MCA, ) Tj ET Q q 0 0 0 rg BT 123.00 411.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 411.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 399.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 399.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 399.01 Td (PBA, ) Tj ET Q q 0 0 0 rg BT 120.01 399.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 399.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 387.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 387.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 387.01 Td (Perry) Tj ET Q q 0 0 0 rg BT 117.20 387.01 Td (, ) Tj ET Q q 0 0 0 rg BT 121.41 387.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 387.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 375.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 375.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 375.01 Td (QueenField, ) Tj ET Q q 0 0 0 rg BT 144.49 375.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 375.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 363.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 363.01 Td (- ) Tj ET Q q 0 0 0 rg BT 98.00 363.01 Td (SDI, ) Tj ET Q q 0 0 0 rg BT 117.00 363.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 363.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 351.01 Td (NAM ) Tj ET Q q 0 0 0 rg BT 92.75 351.01 Td (- ) Tj ET Q q 0 0 0 rg BT 97.92 351.01 Td (WF) Tj ET Q q 0 0 0 rg BT 111.00 351.01 Td (A, ) Tj ET Q q 0 0 0 rg BT 121.67 351.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 351.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 339.01 Td (NoDak ) Tj ET Q q 0 0 0 rg BT 97.74 339.01 Td (Ener) Tj ET Q q 0 0 0 rg BT 114.65 339.01 Td (gy ) Tj ET Q q 0 0 0 rg BT 125.82 339.01 Td (Investments ) Tj ET Q q 0 0 0 rg BT 171.56 339.01 Td (Corporation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 339.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 327.01 Td (NoDak ) Tj ET Q q 0 0 0 rg BT 97.74 327.01 Td (Ener) Tj ET Q q 0 0 0 rg BT 114.65 327.01 Td (gy ) Tj ET Q q 0 0 0 rg BT 125.82 327.01 Td (Services, ) Tj ET Q q 0 0 0 rg BT 160.81 327.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 327.01 Td (Delaware) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 315.01 Td (The ) Tj ET Q q 0 0 0 rg BT 85.74 315.01 Td (North ) Tj ET Q q 0 0 0 rg BT 108.74 315.01 Td (American ) Tj ET Q q 0 0 0 rg BT 146.22 315.01 Td (Coal ) Tj ET Q q 0 0 0 rg BT 165.47 315.01 Td (Corporation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 315.01 Td (Delaware) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 303.01 Td (North ) Tj ET Q q 0 0 0 rg BT 92.50 303.01 Td (American ) Tj ET Q q 0 0 0 rg BT 129.98 303.01 Td (Coal ) Tj ET Q q 0 0 0 rg BT 149.23 303.01 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 194.97 303.01 Td (India ) Tj ET Q q 0 0 0 rg BT 215.71 303.01 Td (Private ) Tj ET Q q 0 0 0 rg BT 243.46 303.01 Td (Limited) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 303.01 Td (India) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 291.01 Td (North ) Tj ET Q q 0 0 0 rg BT 92.50 291.01 Td (American ) Tj ET Q q 0 0 0 rg BT 129.98 291.01 Td (Coal ) Tj ET Q q 0 0 0 rg BT 149.23 291.01 Td (Royalty ) Tj ET Q q 0 0 0 rg BT 179.98 291.01 Td (Company) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 291.01 Td (Delaware) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 279.01 Td (Otter ) Tj ET Q q 0 0 0 rg BT 90.24 279.01 Td (Creek ) Tj ET Q q 0 0 0 rg BT 113.98 279.01 Td (Mining ) Tj ET Q q 0 0 0 rg BT 142.73 279.01 Td (Company ) Tj ET Q q 0 0 0 rg BT 179.98 279.01 Td (LLC) Tj ET Q BT 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438.50 243.01 Td (Delaware) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 231.01 Td (TRU ) Tj ET Q q 0 0 0 rg BT 89.75 231.01 Td (Ener) Tj ET Q q 0 0 0 rg BT 106.66 231.01 Td (gy ) Tj ET Q q 0 0 0 rg BT 117.83 231.01 Td (Services, ) Tj ET Q q 0 0 0 rg BT 152.82 231.01 Td (LLC) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.50 231.01 Td (Nevada) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 69.50 219.01 Td (Reed ) Tj ET Q q 0 0 0 rg BT 90.24 219.01 Td (Hauling, ) Tj ET Q q 0 0 0 rg BT 123.74 219.01 Td (Inc.) 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Butler) Tj ET Q q 0 0 0 rg BT 100.99 700.25 Td (, Jr) Tj ET Q q 0 0 0 rg BT 112.66 700.25 Td (., certify that: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 679.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 679.25 Td (I have reviewed this annual report on Form 10-K of NACCO Industries, Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 658.25 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 646.25 Td (material fact necessary to make the statements made, in light of the circumstances under which such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 634.25 Td (statements were made, not misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 613.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 613.25 Td (Based on my knowledge, the financial statements, and other financial information included in this report, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 601.25 Td (fairly present in all material respects the financial condition, results of operations and cash flows of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 589.25 Td (registrant as of, and for) Tj ET Q q 0 0 0 rg BT 214.62 589.25 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 568.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 568.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 180.59 568.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 259.55 568.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 556.25 Td (controls and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 318.32 556.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 544.25 Td (over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 317.20 544.25 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 532.25 Td (have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 511.25 Td (a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 511.25 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 499.25 Td (procedures to be designed under our supervision, to ensure that material information relating to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 487.25 Td (registrant, including its consolidated subsidiaries, is made known to us by others within those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 475.25 Td (entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.25 Td (b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 454.25 Td (Designed such internal control over financial reporting, or caused such internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 442.25 Td (financial reporting to be designed under our supervision, to provide reasonable assurance regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 430.25 Td (the reliability of financial reporting and the preparation of financial statements for external purposes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 418.25 Td (in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 397.25 Td (c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 397.25 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 222.79 397.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 335.80 397.25 Td (s disclosure controls and procedures and presented in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 385.25 Td (this report our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 313.89 385.25 Td (fectiveness of the disclosure controls and procedures, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 373.25 Td (the end of the period covered by this report based on such evaluation; 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and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 205.25 Td (b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 205.25 Td (Any fraud, whether or not material, that involves management or other employees who have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 193.25 Td (significant role in the registrant) Tj ET Q q 0 0 0 rg BT 286.30 193.25 Td (s internal control over financial reporting.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 78.5 158.75 m 165.5 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 158.75 m 498.5 158.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 163.87 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 163.42 Td (March 6, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 163.42 Td (/s/ J.C. Butler) Tj ET Q q 0 0 0 rg BT 387.80 163.42 Td (, Jr) Tj ET Q q 0 0 0 rg BT 399.55 163.42 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 148.42 Td (J.C. Butler) Tj ET Q q 0 0 0 rg BT 375.86 148.42 Td (, Jr) Tj ET Q q 0 0 0 rg BT 387.60 148.42 Td (.) 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Loveman, certify that: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 679.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 679.25 Td (I have reviewed this annual report on Form 10-K of NACCO Industries, Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 658.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 658.25 Td (Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 646.25 Td (material fact necessary to make the statements made, in light of the circumstances under which such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 634.25 Td (statements were made, not misleading with respect to the period covered by this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 613.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 613.25 Td (Based on my knowledge, the financial statements, and other financial information included in this report, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 601.25 Td (fairly present in all material respects the financial condition, results of operations and cash flows of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 589.25 Td (registrant as of, and for) Tj ET Q q 0 0 0 rg BT 214.62 589.25 Td (, the periods presented in this report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 568.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 568.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 180.59 568.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 259.55 568.25 Td (ficer\(s\) and I are responsible for establishing and maintaining disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 556.25 Td (controls and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 318.32 556.25 Td (Act Rules 13a-15\(e\) and 15d-15\(e\)\) and internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 544.25 Td (over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 317.20 544.25 Td (Act Rules 13a-15\(f\) and 15d-15\(f\)\) for the registrant and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 532.25 Td (have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 511.25 Td (a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 511.25 Td (Designed such disclosure controls and procedures, or caused such disclosure controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 499.25 Td (procedures to be designed under our supervision, to ensure that material information relating to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 487.25 Td (registrant, including its consolidated subsidiaries, is made known to us by others within those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 475.25 Td (entities, particularly during the period in which this report is being prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 454.25 Td (b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 454.25 Td (Designed such internal control over financial reporting, or caused such internal control over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 442.25 Td (financial reporting to be designed under our supervision, to provide reasonable assurance regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 430.25 Td (the reliability of financial reporting and the preparation of financial statements for external purposes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 418.25 Td (in accordance with generally accepted accounting principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 397.25 Td (c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 397.25 Td (Evaluated the ef) Tj ET Q q 0 0 0 rg BT 222.79 397.25 Td (fectiveness of the registrant) Tj ET Q q 0 0 0 rg BT 335.80 397.25 Td (s disclosure controls and procedures and presented in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 385.25 Td (this report our conclusions about the ef) Tj ET Q q 0 0 0 rg BT 313.89 385.25 Td (fectiveness of the disclosure controls and procedures, as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 373.25 Td (the end of the period covered by this report based on such evaluation; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 352.25 Td (d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 352.25 Td (Disclosed in this report any change in the registrant) Tj ET Q q 0 0 0 rg BT 366.83 352.25 Td (s internal control over financial reporting that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 340.25 Td (occurred during the registrant) Tj ET Q q 0 0 0 rg BT 279.34 340.25 Td (s most recent fiscal quarter \(the registrant) Tj ET Q q 0 0 0 rg BT 448.17 340.25 Td (s fourth fiscal quarter in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 328.25 Td (case of an annual report\) that has materially af) Tj ET Q q 0 0 0 rg BT 343.29 328.25 Td (fected , or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 527.20 328.25 Td (fect, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 316.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 198.54 316.25 Td (s internal control over financial reporting; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 295.25 Td (5. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 295.25 Td (The registrant) Tj ET Q q 0 0 0 rg BT 180.59 295.25 Td (s other certifying of) Tj ET Q q 0 0 0 rg BT 259.55 295.25 Td (ficer\(s\) and I have disclosed, based on our most recent evaluation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 283.25 Td (internal control over financial reporting, to the registrant) Tj ET Q q 0 0 0 rg BT 350.81 283.25 Td (s auditors and the audit committee of the registrant) Tj ET Q q 0 0 0 rg BT 556.86 283.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 271.25 Td (board of directors \(or persons performing the equivalent functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 250.25 Td (a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 250.25 Td (All significant deficiencies and material weaknesses in the design or operation of internal control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 238.25 Td (over financial reporting which are reasonably likely to adversely af) Tj ET Q q 0 0 0 rg BT 426.32 238.25 Td (fect the registrant) Tj ET Q q 0 0 0 rg BT 499.06 238.25 Td (s ability to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 226.25 Td (record, process, summarize and report financial information; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 205.25 Td (b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 205.25 Td (Any fraud, whether or not material, that involves management or other employees who have a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.00 193.25 Td (significant role in the registrant) Tj ET Q q 0 0 0 rg BT 286.30 193.25 Td (s internal control over financial reporting.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 78.5 158.75 m 165.5 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 158.75 m 512.5 158.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 163.87 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 163.42 Td (March 6, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 163.42 Td (/s/ Elizabeth I. Loveman) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 148.42 Td (Elizabeth I. Loveman) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 133.42 Td (V) Tj ET Q q 0 0 0 rg BT 339.62 133.42 Td (ice President and Controller) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 123.42 Td (\(principal financial of) Tj ET Q q 0 0 0 rg BT 420.00 123.42 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 187 0 obj <> endobj 188 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 742.25 Td (Exhibit32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 561.98 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 721.25 Td (CER) Tj ET Q q 0 0 0 rg BT 82.26 721.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 116.52 721.25 Td (TION PURSUANT) Tj ET Q q 0 0 0 rg BT 198.85 721.25 Td ( ) Tj ET Q q 0 0 0 rg BT 201.17 721.25 Td (T) Tj ET Q q 0 0 0 rg BT 207.66 721.25 Td (O 18 U.S.C. SECTION 1350, ) Tj ET Q q 0 0 0 rg BT 332.41 721.25 Td (AS ) Tj ET Q q 0 0 0 rg BT 347.14 721.25 Td (ADOPTED PURSUANT) Tj ET Q q 0 0 0 rg BT 452.80 721.25 Td ( ) Tj ET Q q 0 0 0 rg BT 455.12 721.25 Td (T) Tj ET Q q 0 0 0 rg BT 461.61 721.25 Td (O SECTION 906 OF) Tj ET Q q 0 0 0 rg BT 550.42 721.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.55 709.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 333.04 709.25 Td ( ) Tj ET Q q 0 0 0 rg BT 334.99 709.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 355.92 709.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 371.93 709.25 Td ( 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.43 709.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (In connection with the ) Tj ET Q q 0 0 0 rg BT 141.65 688.25 Td (Annual Report of NACCO Industries, Inc. \(the Company\) on Form 10-K for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 676.25 Td (, as filed with the Securities and Exchange Commission on the date hereof \(the Report\), each of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (undersigned of) Tj ET Q q 0 0 0 rg BT 109.53 664.25 Td (ficers of the Company certifies, pursuant to 18 U.S.C. 1350, as adopted pursuant to 906 of the Sarbanes-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (Oxley ) Tj ET Q q 0 0 0 rg BT 76.39 652.25 Td (Act of 2002, that, to such of) Tj ET Q q 0 0 0 rg BT 188.41 652.25 Td (ficer's knowledge: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 631.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 631.25 Td (The Report fully complies with the requirements of Section 13\(a\) or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 530.22 631.25 Td (Act of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 619.25 Td (1934; and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 598.25 Td (The information contained in the Report fairly presents, in all material respects, the financial condition and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 586.25 Td (results of operations of the Company as of the dates and for the periods expressed in the Report.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 78.5 551.75 m 165.5 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 551.75 m 512.5 551.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 556.87 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 556.42 Td (March 6, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 556.42 Td (/s/ J.C. Butler) Tj ET Q q 0 0 0 rg BT 387.80 556.42 Td (, Jr) Tj ET Q q 0 0 0 rg BT 399.55 556.42 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 541.42 Td (J.C. Butler) Tj ET Q q 0 0 0 rg BT 375.86 541.42 Td (, Jr) Tj ET Q q 0 0 0 rg BT 387.60 541.42 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 526.42 Td (President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 467.22 526.42 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 78.5 487.75 m 165.5 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330.5 487.75 m 512.5 487.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.87 Td (Date:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 492.42 Td (March 6, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 492.42 Td (/s/ Elizabeth I. Loveman) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 477.42 Td (Elizabeth I. Loveman) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 462.42 Td (V) Tj ET Q q 0 0 0 rg BT 339.62 462.42 Td (ice President and Controller) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.00 452.42 Td (\(principal financial of) Tj ET Q q 0 0 0 rg BT 420.00 452.42 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 189 0 obj <> endobj 190 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 742.25 Td (Exhibit 95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.05 718.25 Td (MINE SAFETY) Tj ET Q q 0 0 0 rg BT 303.85 718.25 Td ( DISCLOSURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (NACCO Industries, Inc. \(the Company\) believes that ) Tj ET Q q 0 0 0 rg BT 273.93 694.25 Td (The North ) Tj ET Q q 0 0 0 rg BT 317.26 694.25 Td (American Coal Corporation and its af) Tj ET Q q 0 0 0 rg BT 467.87 694.25 Td (filiated mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (companies \(collectively) Tj ET Q q 0 0 0 rg BT 144.59 682.25 Td (, NACoal\) is an industry leader in safety) Tj ET Q q 0 0 0 rg BT 314.44 682.25 Td (. NACoal has health and safety programs in place that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (include extensive employee training, accident prevention, workplace inspection, emer) Tj ET Q q 0 0 0 rg BT 393.30 670.25 Td (gency response, accident investigation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (regulatory compliance and program auditing. ) Tj ET Q q 0 0 0 rg BT 233.09 658.25 Td (The objectives for NACoal's programs are to eliminate workplace incidents, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (comply with all mining-related regulations and provide support for both regulators and the industry to improve mine safety) Tj ET Q q 0 0 0 rg BT 541.74 646.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (Under the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 143.41 622.25 Td (W) Tj ET Q q 0 0 0 rg BT 152.05 622.25 Td (all Street Reform and Consumer Protection ) Tj ET Q q 0 0 0 rg BT 327.01 622.25 Td (Act, each operator of a coal or other mine is required to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (include certain mine safety results in its periodic reports filed with the Securities and Exchange Commission. ) Tj ET Q q 0 0 0 rg BT 488.88 610.25 Td (The operation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (NACoal's mines is subject to regulation by the Federal Mine Safety and Health ) Tj ET Q q 0 0 0 rg BT 368.13 598.25 Td (Administration \("MSHA"\) under the Federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Mine Safety and Health ) Tj ET Q q 0 0 0 rg BT 147.20 586.25 Td (Act of 1977 \(the "Mine ) Tj ET Q q 0 0 0 rg BT 242.65 586.25 Td (Act"\). MSHA) Tj ET Q q 0 0 0 rg BT 297.85 586.25 Td ( inspects NACoal's mines on a regular basis and issues various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (citations and orders when it believes a violation has occurred under the Mine ) Tj ET Q q 0 0 0 rg BT 359.63 574.25 Td (Act. ) Tj ET Q q 0 0 0 rg BT 378.89 574.25 Td (The Company has presented information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (below regarding certain mining safety and health matters for NACoal's mining operations for the year ended December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (2018. In evaluating this information, consideration should be given to factors such as: \(i\) the number of citations and orders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (will vary depending on the size of the mine, \(ii\) the number of citations issued will vary from inspector to inspector and from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (mine to mine, and \(iii\) citations and orders can be contested and appealed, and in that process, are often reduced in severity and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (amount, and are sometimes vacated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (During the year ended December31, 2018, neither NACoal's current mining operations nor Bellaire's closed mines: \(i\) were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (assessed any Mine ) Tj ET Q q 0 0 0 rg BT 126.38 478.25 Td (Act section 104\(b\) orders for alleged failure to totally abate the subject matter of a Mine ) Tj ET Q q 0 0 0 rg BT 481.25 478.25 Td (Act section 104\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (citation within the period specified in the citation; \(ii\) were assessed any Mine ) Tj ET Q q 0 0 0 rg BT 365.19 466.25 Td (Act section 104\(d\) citations or orders for an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (alleged unwarrantable failure \(i.e., aggravated conduct constituting more than ordinary negligence\) to comply with a mining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (safety standard or regulation; \(iii\) were assessed any Mine ) Tj ET Q q 0 0 0 rg BT 287.71 442.25 Td (Act section 1) Tj ET Q q 0 0 0 rg BT 340.10 442.25 Td (10\(b\)\(2\) penalties for failure to correct the subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (matter of a Mine ) Tj ET Q q 0 0 0 rg BT 118.87 430.25 Td (Act section 104\(a\) citation within the specified time period, which failure was deemed flagrant \(i.e., reckless ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (or repeated failure to make reasonable ef) Tj ET Q q 0 0 0 rg BT 213.06 418.25 Td (forts to eliminate a known violation that substantially and proximately caused, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (reasonably could have been expected to cause, death or serious bodily injury\); \(iv\) received any Mine ) Tj ET Q q 0 0 0 rg BT 458.47 406.25 Td (Act section 107\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (imminent danger orders to immediately remove miners; or \(v\) received any MSHA) Tj ET Q q 0 0 0 rg BT 382.41 394.25 Td ( written notices under Mine ) Tj ET Q q 0 0 0 rg BT 494.88 394.25 Td (Act section ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (104\(e\) of a pattern of violation of mandatory health or safety standards or of the potential to have such a pattern. In addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (there were no mining-related fatalities at NACoal's mining operations or Bellaire's closed mines during the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (December31, 2018.) Tj ET Q endstream endobj 191 0 obj <> endobj 192 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The following table sets forth the total number of specific citations and orders, the total dollar value of the proposed civil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (penalty assessments that were issued by MSHA, the total number of legal actions initiated and resolved before the Federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Mine Safety and Health Review Commission \("FMSHRC"\) during the year ended December31, 2018, and the total number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (legal actions pending before the FMSHRC at December31, 2018, pursuant to the Mine ) Tj ET Q q 0 0 0 rg BT 401.60 706.10 Td (Act, by individual mine at NACoal:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 611.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 611.60 8.00 -15.00 re f /GS0 gs 0.8 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1 rg /GS0 gs 285.50 401.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 401.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 401.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 401.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 401.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 401.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 401.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 371.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 371.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 371.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 371.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 371.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 371.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 371.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 371.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 371.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 371.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 371.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 341.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 341.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 341.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 341.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 341.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 341.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 341.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 341.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 341.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 341.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 341.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 311.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 311.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 311.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 311.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 311.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 311.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 311.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 311.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 311.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 311.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 311.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 281.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 281.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 281.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 281.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 281.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 281.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 281.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 281.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 281.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 281.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 281.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 251.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 251.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 251.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 251.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 251.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 251.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 251.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 251.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 251.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 251.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 251.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 221.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 221.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 221.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 221.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 221.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 221.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 221.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 221.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 221.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 221.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 221.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 191.60 162.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.50 191.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 191.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.50 191.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 191.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 191.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 191.60 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.50 191.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 191.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 191.60 8.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 191.60 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 51.5 626.6 m 213.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 626.6 m 277.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 626.6 m 341.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 626.6 m 411.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 626.6 m 485.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 626.6 m 559.5 626.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 176.60000000000002 m 277.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 176.60000000000002 m 341.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 176.60000000000002 m 411.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 176.60000000000002 m 485.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 176.60000000000002 m 559.5 176.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 162.60000000000002 m 277.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 160.60000000000002 m 277.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 162.60000000000002 m 341.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 160.60000000000002 m 341.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 162.60000000000002 m 411.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 160.60000000000002 m 411.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 162.60000000000002 m 485.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 160.60000000000002 m 485.5 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 162.60000000000002 m 559.5 162.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 160.60000000000002 m 559.5 160.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 630.85 Td (Name of Mine or Quarry \(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 234.00 662.85 Td (Mine ) Tj ET Q q 0 0 0 rg BT 252.67 662.85 Td (Act) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 230.00 654.85 Td (Section 104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 227.30 646.85 Td (Significant &) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 231.20 638.85 Td (Substantial) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.85 630.85 Td (Citations \(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 293.60 662.85 Td (T) Tj ET Q q 0 0 0 rg BT 298.21 662.85 Td (otal Dollar) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.55 654.85 Td (V) Tj ET Q q 0 0 0 rg BT 304.88 654.85 Td (alue of) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.10 646.85 Td (Proposed) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.65 638.85 Td (MSHA) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 294.10 630.85 Td (Assessment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.45 678.85 Td (Number of Legal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.20 670.85 Td (Actions Initiated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.85 662.85 Td (before the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.20 654.85 Td (FMSHRC for the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.65 646.85 Td (year ended at) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.55 638.85 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.00 630.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.45 678.85 Td (Number of Legal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 423.65 670.85 Td (Actions Resolved) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.85 662.85 Td (before the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.20 654.85 Td (FMSHRC for the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.65 646.85 Td (year ended at) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.55 638.85 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.00 630.85 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.45 670.85 Td (Number of Legal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.40 662.85 Td (Actions Pending) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 509.85 654.85 Td (before the) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.85 646.85 Td (FMSHRC at) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 503.55 638.85 Td (December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.30 630.85 Td (2018 \(3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 600.85 Td (Coteau \(Freedom Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.30 600.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.00 600.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.30 600.85 Td (1,205) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 600.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 600.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 600.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 585.85 Td (Falkirk \(Falkirk Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 585.85 Td (879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 585.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 570.85 Td (Sabine \(South Hallsville No. 1 Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.30 570.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.30 570.85 Td (1,130) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 570.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 570.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 570.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 555.85 Td (Demery \(Five Forks Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 555.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.30 555.85 Td (1,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 555.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 555.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 555.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 540.85 Td (Caddo Creek \(Marshall Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 540.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 540.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 540.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 540.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 540.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 525.85 Td (Camino Real \(Eagle Pass Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 525.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 525.85 Td (302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 525.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 525.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 525.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 510.85 Td (Liberty \(Liberty Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 510.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 510.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 510.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 510.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 510.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 495.85 Td (Coyote Creek \(Coyote Creek Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 495.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 495.85 Td (191) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 495.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 495.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 495.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 480.85 Td (Bisti Fuels \(Navajo Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.30 480.85 Td (5) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 320.30 480.85 Td (5,301) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.65 480.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.65 480.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.65 480.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 465.85 Td (MLMC \(Red Hills Mine\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 465.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 465.85 Td (242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 466.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.65 466.27 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 450.85 Td (North ) Tj ET Q q 0 0 0 rg BT 74.44 450.85 Td (American Mining Operations:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 450.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 450.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 435.85 Td (Card Sound Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 435.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 435.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 435.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 435.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 435.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 420.85 Td (White Rock Quarry - North) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 420.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 420.85 Td (236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 420.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 420.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 420.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 405.85 Td (White Rock Quarry - South) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 405.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 405.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 405.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 405.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 405.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 390.85 Td (Krome Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 390.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 390.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 390.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 390.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 390.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 375.85 Td (Alico Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 375.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 375.85 Td (361) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 375.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 375.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 375.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 360.85 Td (FEC Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 360.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 360.85 Td (1) Tj ET Q q 0 0 0 rg BT 330.30 360.85 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 360.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 360.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 360.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 345.85 Td (SCL) Tj ET Q q 0 0 0 rg BT 80.52 345.85 Td ( Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 345.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 345.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 345.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 345.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 345.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 330.85 Td (Central State ) Tj ET Q q 0 0 0 rg BT 109.32 330.85 Td (Aggregates Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 330.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 330.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 330.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 330.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 330.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 315.85 Td (Mid Coast ) Tj ET Q q 0 0 0 rg BT 101.34 315.85 Td (Aggregates Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 315.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 315.85 Td (336) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 315.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 315.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 315.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 300.85 Td (W) Tj ET Q q 0 0 0 rg BT 73.23 300.85 Td (est Florida ) Tj ET Q q 0 0 0 rg BT 108.69 300.85 Td (Aggregates Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 300.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 300.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 300.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 300.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 300.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 285.85 Td (St. Catherine Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 285.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 285.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 285.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 285.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 285.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 270.85 Td (Center Hill Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 270.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 270.85 Td (31) Tj ET Q q 0 0 0 rg BT 334.30 270.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 270.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 270.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 270.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 255.85 Td (Inglis Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 255.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 255.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 255.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 255.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 255.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 240.85 Td (T) Tj ET Q q 0 0 0 rg BT 70.75 240.85 Td (itan Corkscrew Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 240.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 240.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 240.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 240.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 240.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 225.85 Td (Palm Beach ) Tj ET Q q 0 0 0 rg BT 106.21 225.85 Td (Aggregates Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 225.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.30 225.85 Td (1) Tj ET Q q 0 0 0 rg BT 330.30 225.85 Td (18) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 225.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 225.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 225.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 210.85 Td (Perry Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 210.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 210.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 210.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 210.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 210.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 195.85 Td (SDI ) Tj ET Q q 0 0 0 rg BT 80.67 195.85 Td (Aggregates Quarry) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 195.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 180.85 Td (Queensfield Mine) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 266.30 180.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 330.30 180.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.65 180.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 180.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.65 180.85 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 54.00 165.85 Td (T) Tj ET Q q 0 0 0 rg BT 58.33 165.85 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 270.30 165.85 Td (7) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.00 165.85 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.30 165.85 Td (12,059) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.65 165.85 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.65 165.85 Td (3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.65 165.85 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.10 Td (\(1\) Bellaire's and Centennial's closed mines are not included in the table above and did not receive any of the indicated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 126.10 Td (citations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.10 Td (\(2\) Mine ) Tj ET Q q 0 0 0 rg BT 89.72 114.10 Td (Act section 104\(a\) significant and substantial citations are for alleged violations of a mining safety standard or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 102.10 Td (regulation where there exists a reasonable likelihood that the hazard contributed to or will result in an injury or illness of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 90.10 Td (reasonably serious nature. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 78.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 63.98 78.10 Td (The pending legal actions at Bisti Fuels are contests of citations received.) Tj ET Q endstream endobj 193 0 obj <> /View <>>>>> endobj 194 0 obj <> /View <>>>>> endobj 195 0 obj <> endobj 196 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;