Quarterly Results of Operations

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)

A summary of the unaudited results of operations for the year ended December 31 is as follows:

	2011
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues
NMHG	$	586.6		$	648.0		$	628.8		$	677.4
HBB	100.6			104.3			126.7			161.4
KC	40.9			40.0			48.9			91.4
NACoal	17.9			19.4			21.0			23.5
Eliminations	(0.5		)	(0.7		)	(2.0		)	(2.4		)
	$	745.5		$	811.0		$	823.4		$	951.3
Gross profit	$	136.6		$	137.9		$	137.5		$	181.1
Earnings of unconsolidated mines	$	12.1		$	9.5		$	11.1		$	12.8
Operating profit (loss)
NMHG	$	30.4		$	27.5		$	24.1		$	28.0
HBB	3.3			3.6			7.9			19.0
KC	(5.4		)	(4.3		)	(0.6		)	12.8
NACoal	9.5			5.3			7.0			13.4
NACCO and Other	(2.5		)	(1.1		)	(0.9		)	(2.8		)
Eliminations	—			0.1			(0.1		)	(0.1		)
	$	35.3		$	31.1		$	37.4		$	70.3
Net income	$	62.8		$	19.1		$	25.7		$	54.5
Net income (loss) attributable to stockholders
NMHG	$	22.3		$	19.2		$	17.5		$	23.6
HBB	1.0			1.3			4.1			12.0
KC	(3.3		)	(2.7		)	(0.5		)	7.6
NACoal	7.1			4.6			5.8			11.9
NACCO and Other	34.7			(1.0		)	(0.7		)	(2.3		)
Eliminations	1.0			(2.2		)	(0.5		)	1.6
	$	62.8		$	19.2		$	25.7		$	54.4
Basic earnings per share	$	7.51		$	2.29		$	3.06		$	6.48
Diluted earnings per share	$	7.48		$	2.28		$	3.05		$	6.47

During the first quarter of 2011, the Company entered into a settlement agreement for litigation against Applica and individuals and entities affiliated with Applica's shareholder, Harbinger Capital Partners Master Fund, Ltd. The settlement agreement provided for, among other things, the payment of $60 million to the Company and dismissal of the lawsuit with prejudice. The payment was received in February 2011.

The significant increase in operating results in the fourth quarter of 2011 compared with the prior quarters of 2011 is primarily due to the seasonal nature of HBB's and KC's businesses.

The reduction in operating results at NACoal during the first nine months of 2011 was primarily due to a decrease in tons delivered at MLMC as a result of unplanned customer power plant outages.

	2010
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues
NMHG	$	375.4		$	413.5		$	442.9		$	570.1
HBB	102.6			103.3			133.3			176.5
KC	42.8			40.9			47.5			88.4
NACoal	37.6			42.3			42.4			34.5
Eliminations	(0.8		)	(1.2		)	(1.2		)	(3.3		)
	$	557.6		$	598.8		$	664.9		$	866.2
Gross profit	$	105.7		$	123.1		$	130.1		$	167.3
Earnings of unconsolidated mines	$	10.5		$	9.5		$	11.3		$	12.1
Operating profit (loss)
NMHG	$	10.3		$	9.8		$	8.2		$	17.8
HBB	7.4			7.8			10.9			19.8
KC	(2.9		)	(2.9		)	0.1			11.6
NACoal	11.0			15.7			15.0			11.6
NACCO and Other	(1.7		)	(3.1		)	(2.0		)	(4.0		)
Eliminations	0.1			—			(0.1		)	(0.1		)
	$	24.2		$	27.3		$	32.1		$	56.7
Net income	$	11.6		$	16.0		$	13.3		$	38.5
Net income (loss) attributable to stockholders
NMHG	$	8.0		$	7.3		$	3.8		$	13.3
HBB	3.4			3.8			5.6			11.6
KC	(1.8		)	(1.8		)	(0.1		)	7.2
NACoal	8.1			11.3			11.0			9.2
NACCO and Other	(3.0		)	(5.3		)	(6.1		)	(6.0		)
Eliminations	(3.0		)	0.6			(0.7		)	3.1
	$	11.7		$	15.9		$	13.5		$	38.4
Basic earnings per share	$	1.41		$	1.91		$	1.62		$	4.61
Diluted earnings per share	$	1.40		$	1.91		$	1.62		$	4.59

The significant increase in operating results in the fourth quarter of 2010 compared with the prior quarters of 2010 is primarily due to the seasonal nature of HBB's and KC's businesses.