EX-99.III 33 l87125bex99-iii.txt EXHIBIT 99(III) 1 Exhibit 99(iii) NACCO Industries, Inc. Unaudited Consolidating Statement of Cash Flows For the Year Ended December 31, 2000 (In millions)
NMHG Housewares NACoal ----------- --------------- ----------- Operating Activities Net income $ 21.3 $ 8.8 $ 12.6 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 54.6 19.3 31.9 Deferred income taxes (12.2) (2.8) 3.9 Minority interest (income) expense (1.1) - 1.0 Extraordinary gain - - - Provision for severance 13.9 1.7 - Other non-cash items (5.1) 0.3 1.9 Working capital changes, excluding the effect of business acquisitions: Intercompany receivable/payable (1.5) 1.2 (8.6) Accounts receivable (36.3) 16.5 (3.5) Inventories (19.0) (5.2) (1.8) Other current assets 0.9 1.0 (0.7) Accounts payable and other liabilities 47.1 (16.4) 2.7 ----------- --------------- ----------- Net cash provided by (used for) operating activities 62.6 24.4 39.4 ----------- --------------- ----------- Investing Activities Expenditures for property, plant and equipment (51.8) (22.0) (19.2) Proceeds from the sale of property, plant, and equipment 10.1 2.6 1.2 Acquisitions of businesses, net of cash acquired (16.6) - (128.7) Investments in unconsolidated affiliates (1.4) - (8.9) Intercompany loans 7.0 - 11.1 Other - net - - (1.2) ----------- --------------- ----------- Net cash used for investing activities (52.7) (19.4) (145.7) ----------- --------------- ----------- Financing Activities Additions to long-term debt and revolving credit agreements 38.6 1.9 145.5 Reductions to long-term debt and revolving credit agreements (46.1) (0.4) (15.2) Additions to obligations of project mining subsidiaries - - 53.7 Reductions of obligations of project mining subsidiaries - - (70.3) Deferred financing fees - - (1.8) Cash dividends paid (10.0) (1.7) (4.6) Capital grants 0.4 - - Other-net - - (1.5) ----------- --------------- ----------- Net cash provided by (used for) financing activities (17.1) (0.2) 105.8 ----------- --------------- ----------- Effect of exchange rate changes on cash 0.5 (0.1) - ----------- --------------- ----------- Cash and Cash Equivalents Increase (decrease) for the year (6.7) 4.7 (0.5) Balance at the beginning of the year 31.1 2.9 2.2 ----------- --------------- ----------- Balance at the end of the year $ 24.4 $ 7.6 $ 1.7 =========== =============== ===========
NACCO NACCO and Other Consolidated ------------ ---------------- Operating Activities Net income $ 25.0 $ 67.7 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion and amortization 0.3 106.1 Deferred income taxes (1.4) (12.5) Minority interest (income) expense - (0.1) Extraordinary gain (29.9) (29.9) Provision for severance - 15.6 Other non-cash items 3.0 0.1 Working capital changes, excluding the effect of business acquisitions: - Intercompany receivable/payable 8.9 - Accounts receivable (1.6) (24.9) Inventories - (26.0) Other current assets - 1.2 Accounts payable and other liabilities 2.3 35.7 ------------ ---------------- Net cash provided by (used for) operating activities 6.6 133.0 ------------ ---------------- Investing Activities Expenditures for property, plant and equipment (0.3) (93.3) Proceeds from the sale of property, plant, and equipment 1.4 15.3 Acquisitions of businesses, net of cash acquired - (145.3) Investments in unconsolidated affiliates - (10.3) Intercompany loans (18.1) - Other - net 0.6 (0.6) ------------ ---------------- Net cash used for investing activities (16.4) (234.2) ------------ ---------------- Financing Activities Additions to long-term debt and revolving credit agreements - 186.0 Reductions to long-term debt and revolving credit agreements - (61.7) Additions to obligations of project mining subsidiaries - 53.7 Reductions of obligations of project mining subsidiaries - (70.3) Deferred financing fees - (1.8) Cash dividends paid 9.1 (7.2) Capital grants - 0.4 Other-net 0.7 (0.8) ------------ ---------------- Net cash provided by (used for) financing activities 9.8 98.3 ------------ ---------------- Effect of exchange rate changes on cash - 0.4 ------------ ---------------- Cash and Cash Equivalents Increase (decrease) for the year - (2.5) Balance at the beginning of the year - 36.2 ------------ ---------------- Balance at the end of the year $ - $ 33.7 ============ ================