EX-99.(I) 36 l93112aex99-i.txt EX-99(I) UNAUDITED STATEMENT OF OPERATIONS EXHIBIT 99(i) NACCO Industries, Inc. Unaudited Consolidating Statement of Operations and Comprehensive Income (Loss) For the Year Ended December 31, 2001 (In millions)
NMHG ------------------------------------------------- Wholesale Retail Elims Consolidated Housewares --------- -------- -------- ------------ ---------- Net sales $1,463.3 $ 298.8 $ (89.7) $1,672.4 $ 632.1 Other revenues -- -- -- -- -- -------- -------- -------- -------- -------- Revenues 1,463.3 298.8 (89.7) 1,672.4 632.1 Cost of sales 1,273.4 244.0 (94.6) 1,422.8 522.1 -------- -------- -------- -------- -------- Gross profit 189.9 54.8 4.9 249.6 110.0 Selling, general and administrative expenses 173.1 84.7 (2.2) 255.6 102.7 Restructuring charges 4.1 4.7 -- 8.8 12.7 Loss on sale of dealers -- 10.4 -- 10.4 -- Amortization of goodwill 11.4 1.5 -- 12.9 3.0 -------- -------- -------- -------- -------- Operating profit (loss) 1.3 (46.5) 7.1 (38.1) (8.4) Other income (expense) Interest expense (12.9) (5.0) (5.2) (23.1) (7.7) Closed mine obligations -- -- -- -- -- Insurance recovery 8.0 -- -- 8.0 -- Other-net (10.6) 0.4 -- (10.2) (0.1) -------- -------- -------- -------- -------- (15.5) (4.6) (5.2) (25.3) (7.8) -------- -------- -------- -------- -------- Income (loss) before income taxes, minority interest and cumulative effect of accounting changes (14.2) (51.1) 1.9 (63.4) (16.2) Income tax provision (benefit) (0.6) (14.6) 0.7 (14.5) (4.0) -------- -------- -------- -------- -------- Income (loss) before minority interest and cumulative effect of accounting changes (13.6) (36.5) 1.2 (48.9) (12.2) Minority interest income (expense) 0.8 -- -- 0.8 -- -------- -------- -------- -------- -------- Income (loss) before cumulative effect of accounting changes (12.8) (36.5) 1.2 (48.1) (12.2) Cumulative effect of accounting changes (1.3) -- -- (1.3) -- -------- -------- -------- -------- -------- Net income (loss) $ (14.1) $ (36.5) $ 1.2 $ (49.4) $ (12.2) ======== ======== ======== ======== ======== Change in comprehensive income (loss) (27.6) 1.0 -- (26.6) (3.1) -------- -------- -------- -------- -------- Comprehensive income (loss) $ (41.7) $ (35.5) $ 1.2 $ (76.0) $ (15.3) ======== ======== ======== ======== ======== NACoal ------------------------------------ Project NACoal Mining excl Proj NACCO & NACCO NACCO Subsidiaries Mines Consolidated Other Elims Consolidated ------------ --------- ------------ -------- -------- ------------ Net sales $ 260.9 $ 47.6 $ 308.5 $ 0.1 $ -- $2,613.1 Other revenues -- 24.8 24.8 -- -- 24.8 -------- -------- -------- -------- -------- -------- Revenues 260.9 72.4 333.3 0.1 -- 2,637.9 Cost of sales 215.2 43.0 258.2 0.3 -- 2,203.4 -------- -------- -------- -------- -------- -------- Gross profit 45.7 29.4 75.1 (0.2) -- 434.5 Selling, general and administrative expenses 3.7 9.5 13.2 9.5 -- 381.0 Restructuring charges -- -- -- -- -- 21.5 Loss on sale of dealers -- -- -- -- -- 10.4 Amortization of goodwill -- -- -- -- -- 15.9 -------- -------- -------- -------- -------- -------- Operating profit (loss) 42.0 19.9 61.9 (9.7) -- 5.7 Other income (expense) Interest expense (16.4) (10.0) (26.4) (0.2) 0.5 (56.9) Closed mine obligations -- -- -- (1.3) -- (1.3) Insurance recovery -- -- -- -- -- 8.0 Other-net 0.2 (1.1) (0.9) 10.8 (0.5) (0.9) -------- -------- -------- -------- -------- -------- (16.2) (11.1) (27.3) 9.3 -- (51.1) -------- -------- -------- -------- -------- -------- Income (loss) before income taxes, minority interest and cumulative effect of accounting changes 25.8 8.8 34.6 (0.4) -- (45.4) Income tax provision (benefit) 5.8 3.2 9.0 (0.4) -- (9.9) -------- -------- -------- -------- -------- -------- Income (loss) before minority interest and cumulative effect of accounting changes 20.0 5.6 25.6 -- -- (35.5) Minority interest income (expense) -- -- -- -- -- 0.8 -------- -------- -------- -------- -------- -------- Income (loss) before cumulative effect of accounting changes 20.0 5.6 25.6 -- -- (34.7) Cumulative effect of accounting changes -- -- -- -- -- (1.3) -------- -------- -------- -------- -------- -------- Net income (loss) $ 20.0 $ 5.6 $ 25.6 $ -- $ -- $ (36.0) ======== ======== ======== ======== ======== ======== Change in comprehensive income (loss) 2.2 (7.1) (4.9) -- -- (34.6) -------- -------- -------- -------- -------- -------- Comprehensive income (loss) $ 22.2 $ (1.5) $ 20.7 $ -- $ -- $ (70.6) ======== ======== ======== ======== ======== ========