Business Segments

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

Business Segments

Business Segments

NACCO is a holding company with the following principal subsidiaries: NMHG, HBB, KC and NACoal. See Note 1 for a discussion of the Company's industries and product lines. NACCO's non-operating segment, NACCO and Other, includes the accounts of the parent company and Bellaire. NACCO's reportable segments include the following three management units: NMHG Americas, NMHG Europe and NMHG Other. NMHG Americas includes its operations in the United States, Canada, Mexico, Brazil and Latin America. NMHG Europe includes its operations in Europe, the Middle East and Africa. NMHG Other includes NMHG's corporate headquarters and its immaterial operating segments, which include operations in the Asia-Pacific region. Certain amounts are allocated to these geographic management units and are included in the segment results presented below, including product development costs, corporate headquarters expenses, information technology infrastructure costs and NACCO management fees. These allocations among geographic management units are determined by NMHG's corporate headquarters and not directly incurred by the geographic operations. In addition, other costs are incurred directly by these geographic management units based upon the location of the manufacturing plant or sales units, including manufacturing variances, product liability, warranty and sales discounts, which may not be associated with the geographic management unit of the ultimate end user sales location where revenues and margins are reported. Therefore, the reported results of each NMHG segment cannot be considered stand-alone entities as all NMHG reportable segments are inter-related and integrate into a single global NMHG business.

Financial information for each of NACCO's reportable segments is presented in the following table. The accounting policies of the reportable segments are described in Note 2. The line “Eliminations” in the revenues section eliminates revenues from HBB sales to KC. The amounts of these revenues are based on current market prices of similar third-party transactions. No other sales transactions occur among reportable segments. Other transactions among reportable segments are recognized based on current market prices of similar third-party transactions.

The parent company charges management fees to its operating subsidiaries for services provided by the corporate headquarters. The management fees are based upon estimated parent company resources devoted to providing centralized services and stewardship activities and are allocated among all subsidiaries based upon the relative size and complexity of each subsidiary. To determine the amounts and allocation of management fees among the subsidiaries each year, the parent company reviews the time its employees devoted to each operating subsidiary and the estimated costs for providing centralized services and stewardship activities in the next year. In addition, the parent company reviews the amount of management fees allocated to its operating subsidiaries each quarter to ensure the amount continues to be reasonable based on the actual costs incurred to date. The Company believes the allocation method is consistently applied and reasonable. Total 2011, 2010 and 2009 fees were $16.9 million, $16.0 million and $11.5 million, respectively.

	2011			2010			2009
Revenues from external customers
NMHG
NMHG Americas	$	1,570.7		$	1,140.7		$	853.4
NMHG Europe	751.7			476.6			390.1
NMHG Other	218.4			184.6			231.7
	2,540.8			1,801.9			1,475.2
HBB	493.0			515.7			497.0
KC	221.2			219.6			213.9
NACoal	81.8			156.8			129.5
NACCO and Other	—			—			—
Eliminations	(5.6		)	(6.5		)	(5.0		)
Total	$	3,331.2		$	2,687.5		$	2,310.6
Gross profit
NMHG
NMHG Americas	$	244.0		$	176.3		$	128.4
NMHG Europe	110.2			73.8			31.6
NMHG Other	29.3			29.7			24.7
	383.5			279.8			184.7
HBB	97.2			111.1			107.4
KC	97.4			97.7			94.8
NACoal	15.3			37.9			21.3
NACCO and Other	(0.2		)	(0.2		)	(0.1		)
Eliminations	(0.1		)	(0.1		)	—
Total	$	593.1		$	526.2		$	408.1
Selling, general and administrative expenses
NMHG
NMHG Americas	$	157.0		$	127.8		$	104.8
NMHG Europe	88.3			72.8			73.3
NMHG Other	28.0			28.9			29.9
	273.3			229.5			208.0
HBB	63.4			65.2			57.0
KC	94.9			91.8			88.1
NACoal	26.6			28.2			25.9
NACCO and Other	7.1			10.6			9.3
Total	$	465.3		$	425.3		$	388.3

	2011			2010			2009
Operating profit (loss)
NMHG
NMHG Americas	$	86.8		$	48.5		$	23.5
NMHG Europe	21.9			2.7			(47.9		)
NMHG Other	1.3			(5.1		)	(6.8		)
	110.0			46.1			(31.2		)
HBB	33.8			45.9			50.4
KC	2.5			5.9			6.7
NACoal	35.2			53.3			42.6
NACCO and Other	(7.3		)	(10.8		)	(9.4		)
Eliminations	(0.1		)	(0.1		)	—
Total	$	174.1		$	140.3		$	59.1
Interest expense
NMHG
NMHG Americas	$	15.8		$	10.1		$	11.4
NMHG Europe	0.5			2.5			3.5
NMHG Other	(0.5		)	4.0			4.1
	15.8			16.6			19.0
HBB	5.2			7.2			8.6
KC	0.5			0.3			0.4
NACoal	3.0			3.3			4.1
NACCO and Other	—			—			0.4
Eliminations	—			—			(0.3		)
Total	$	24.5		$	27.4		$	32.2
Interest income
NMHG
NMHG Americas	$	(1.0	)	$	(1.5	)	$	(1.7	)
NMHG Europe	(0.2		)	(0.2		)	(0.4		)
NMHG Other	(0.6		)	(0.6		)	(0.7		)
	(1.8		)	(2.3		)	(2.8		)
HBB	—			—			(0.1		)
KC	—			—			—
NACoal	(0.3		)	(0.3		)	(0.3		)
NACCO and Other	—			—			(0.3		)
Eliminations	—			—			0.3
Total	$	(2.1	)	$	(2.6	)	$	(3.2	)

	2011			2010			2009
Other (income) expense
NMHG
NMHG Americas	$	(5.5	)	$	(3.0	)	$	(4.4	)
NMHG Europe	1.0			1.0			0.8
NMHG Other	(1.0		)	(0.3		)	3.0
	(5.5		)	(2.3		)	(0.6		)
HBB	0.8			0.3			0.4
KC	0.1			0.1			0.1
NACoal	(1.4		)	(0.1		)	(0.6		)
NACCO and Other	(56.1		)	20.7			1.9
Total	$	(62.1	)	$	18.7		$	1.2
Income tax provision (benefit)
NMHG
NMHG Americas	$	13.1		$	16.3		$	6.9
NMHG Europe	—			(0.1		)	(9.4		)
NMHG Other	5.8			(14.4		)	(1.1		)
	18.9			1.8			(3.6		)
HBB	9.4			14.0			15.4
KC	0.8			2.0			2.3
NACoal	4.5			10.8			8.8
NACCO and Other	18.1			(11.1		)	(2.4		)
Eliminations	—			(0.1		)	—
Total	$	51.7		$	17.4		$	20.5
Net income (loss) attributable to stockholders
NMHG
NMHG Americas	$	64.4		$	26.5		$	11.3
NMHG Europe	20.5			(0.3		)	(42.5		)
NMHG Other	(2.3		)	6.2			(11.9		)
	82.6			32.4			(43.1		)
HBB	18.4			24.4			26.1
KC	1.1			3.5			3.9
NACoal	29.4			39.6			53.2
NACCO and Other	30.7			(20.4		)	(9.0		)
Eliminations	(0.1		)	—			—
Total	$	162.1		$	79.5		$	31.1

	2011			2010			2009
Total assets
NMHG
NMHG Americas	$	596.0		$	557.0		$	438.5
NMHG Europe	404.5			353.0			295.6
NMHG Other	116.5			131.2			180.0
	1,117.0			1,041.2			914.1
HBB	201.5			251.7			217.8
KC	89.0			86.6			81.9
NACoal	278.5			269.2			266.6
NACCO and Other	169.5			71.8			105.1
Eliminations	(54.1		)	(62.2		)	(96.8		)
Total	$	1,801.4		$	1,658.3		$	1,488.7
Depreciation, depletion and amortization
NMHG
NMHG Americas	$	15.4		$	17.0		$	17.9
NMHG Europe	6.1			6.5			6.4
NMHG Other	9.8			10.4			11.9
	31.3			33.9			36.2
HBB	4.9			3.6			3.7
KC	3.1			3.5			3.7
NACoal	7.9			9.9			9.0
NACCO and Other	0.5			1.3			1.0
Total	$	47.7		$	52.2		$	53.6
Capital expenditures
NMHG
NMHG Americas	$	7.3		$	5.1		$	1.2
NMHG Europe	3.9			3.5			3.3
NMHG Other	5.3			3.5			1.3
	16.5			12.1			5.8
HBB	3.7			2.2			2.1
KC	2.3			2.7			1.0
NACoal	14.1			9.8			10.5
NACCO and Other	0.1			1.1			14.1
Eliminations	—			(1.6		)	—
Total	$	36.7		$	26.3		$	33.5

At December 31, 2011, 2010, and 2009, NMHG Americas' total assets included $86.6 million, $90.4 million and $66.2 million, respectively, of cash. For the same periods, NMHG Europe had $88.2 million, $68.8 million and $80.2 million, respectively, of cash.

Data By Geographic Region

No single country outside of the United States comprised 10% or more of the Company's revenues from unaffiliated customers. The “Other” category below includes Canada, Mexico, South America and Asia-Pacific. In addition, no single customer comprised 10% or more of the Company's revenues from unaffiliated customers. However, HBB and NACoal each derive sales from a single customer that exceeds 10% of the respective segment's revenues. The loss of that operating segment's customer could be material to each respective operating segment.

	United States		Europe, Africa and Middle East		Other		Consolidated
2011
Revenues from unaffiliated customers, based on the customers’ location	$	1,797.6	$	758.0	$	775.6	$	3,331.2
Long-lived assets	$	231.9	$	34.7	$	57.6	$	324.2
2010
Revenues from unaffiliated customers, based on the customers’ location	$	1,556.5	$	491.1	$	639.9	$	2,687.5
Long-lived assets	$	227.1	$	40.8	$	66.5	$	334.4
2009
Revenues from unaffiliated customers, based on the customers’ location	$	1,415.5	$	410.6	$	484.5	$	2,310.6
Long-lived assets	$	277.4	$	48.1	$	66.2	$	391.7