Other Events and Transactions

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

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

In connection with the spin-off of HBBHC, the Company and HBBHC entered into a Transition Services Agreement ("TSA"). Under the terms of the TSA, the Company provides various services to HBBHC on a transitional basis, as needed, for varying periods after the spin-off date. The transition services are materially complete. NACCO received fees of $0.1 million and $0.5 million in the three and nine months ended September 30, 2018, recorded as a reduction to selling, general and administrative expenses.

As a result of the spin-off, the financial position, results of operations and cash flows of HBBHC are reflected as discontinued operations through the date of the spin-off in the Unaudited Condensed Consolidated Financial Statements. Discontinued operations includes the following results of HBBHC for the three and nine months ended September 30, 2017:



	THREE MONTHS ENDED			NINE MONTHS ENDED
	SEPTEMBER 30, 2017			SEPTEMBER 30, 2017
HBBHC Operating Statement Data:
Revenues	$	181,713		$	474,971
Cost of goods sold	133,586			353,436
Gross profit	48,127			121,535
Operating expenses	40,697			114,379
Operating profit	7,430			7,156
Interest expense	423			1,300
Other expense (income), net	40			(939		)
Income before income taxes	6,967			6,795
Income tax expense	2,708			2,655
HBBHC net income	$	4,259		$	4,140
NACCO expenses related to the spin-off	1,664			2,759
NACCO discontinued operations income tax benefit adjustment	(2,472		)	—
NACCO discontinued operations	$	5,067		$	1,381