NACCO Industries, Inc. - Consolidated (in thousands, except percentage data)

Transcription

1 NACCO Industries, Inc. - Consolidated (in thousands, except percentage data) Revenues (1) , , , , , , , , , , , , , , , , , , , , , , , , , , ,076 Operating Profit (Loss) (1) (6) (7) ,068 7,601 14,836 37,137 67, ,022 8,803 16,682 28,829 61, (585) (3,891) 11,323 (73,156) (66,309) ,241 1,288 5,760 21,538 31, ,412 5, ,394 41, ,368 10,581 Interest (Income) Expense (1) ,629 1,433 1,509 1,355 5, ,298 1, ,144 4, ,304 1,771 1,820 1,840 6, ,768 1,638 1,523 1,521 6, ,474 1,427 1,266 1,329 5, ,278 1,260 Other (Income) Expense (1) 2012 (311) 1,338 (348) 3,009 3, (113) , ,258 3, (19) 962 (431) , (933) 1, (558) (155) Income (Loss) Before Taxes (1) (6) (7) Effective Income Tax Rate (1) ,750 4,830 13,675 32,773 58, % 28.7% 24.1% 27.9% 27.3% ,837 7,243 15,484 27,156 55, % 28.9% 20.4% 16.9% 20.2% 2014 (2,089) (6,296) 9,066 (77,254) (76,573) % 42.4% 15.1% 47.4% 50.2% ,407 (331) 3,275 20,448 24, % 16.9% 4.1% 11.5% 11.4% ,781 1,677 (986) 29,998 34, % n.m. n.m. 19.6% 14.1% ,648 9, % 28.4% Income (Loss) from Continuing Operations (1) (6) (7) ,712 3,443 10,376 23,632 42, ,422 5,147 12,325 22,556 44, (1,524) (3,624) 7,699 (40,669) (38,118) ,027 (275) 3,141 18,091 21, ,802 3,116 (442) 24,131 29, ,978 6,788 Discontinued Operations, Net of Taxes (1) ,538 18,269 27,728-66, Net Income (Loss) (6) (7) ,250 21,712 38,104 23, , ,422 5,147 12,325 22,556 44, (1,524) (3,624) 7,699 (40,669) (38,118) ,027 (275) 3,141 18,091 21, ,802 3,116 (442) 24,131 29, ,978 6,788 Depreciation, depletion and amortization expense (1) ,410 3,364 4,629 6,589 17, ,372 4,837 6,168 8,195 24, ,979 6,618 6,848 8,625 28, ,758 5,801 5,778 6,343 23, ,192 4,516 5,215 5,353 19, ,488 4,417 Capital Expenditures (1) ,908 30,404 5,276 5,094 44, ,465 6,351 11,089 32,544 57, ,845 9,335 6,483 9,837 57, ,386 1,766 3,332 3,131 10, ,359 4,335 2,995 4,478 16, ,650 3,449

2 NACCO Industries, Inc. - Consolidated (in thousands, except percentage data) Net cash provided by (used for) operating activities from continuing operations (1) 2012 (16,524) 15,141 12,067 63,651 74, (25,026) 22,468 9,541 46,082 53, (26,016) 4,604 23,630 17,581 19, ,472 12,409 9,932 48, , (3,819) 20,788 29,189 47,777 93, (42,204) 40,457 Net cash provided by (used for) investing activities from continuing operations (1) ,643 (13,067) (59,075) (8,269) (63,768) 2013 (6,628) (6,087) (16,135) (31,884) (60,734) 2014 (31,902) (8,898) (6,497) (27,637) (74,934) 2015 (1,522) (1,542) (3,260) (1,967) (8,291) 2016 (3,323) (5,283) (1,323) 112 (9,817) 2017 (3,836) (2,172) Cash flow before financing activities from continuing operations (1)(2) ,074 (47,008) 55,382 10, (31,654) 16,381 (6,594) 14,198 (7,669) 2014 (57,918) (4,294) 17,133 (10,056) (55,135) ,950 10,867 6,672 46,222 99, (7,142) 15,505 27,866 47,889 84, (46,040) 38,285 Net cash provided by (used for) financing activities from continuing operations (1) 2012 (40,941) 44,995 42,652 (71,226) (24,520) 2013 (11,339) (28,189) 899 1,853 (36,776) ,601 (4,897) (27,392) 20,667 20, (67,757) (20,816) (14,151) (5,577) (108,301) 2016 (9,652) (16,844) (17,862) (11,352) (55,710) ,465 (34,214) Dividends Paid to Shareholders (5) ,466 4,592 4,593 31,479 45, ,102 2,032 1,999 1,971 8, ,964 1,993 1,927 1,871 7, ,850 1,838 1,814 1,794 7, ,804 1,834 1,812 1,812 7, ,827 1,863 Total debt (1)(4) , , , , , , , , , , , , , , , , , , , , , , , , , , ,406 Equity Return on Equity (3) (6) (7) , , , , , % 22.0% 26.4% 22.9% 22.9% , , , , , % 20.5% 16.3% 15.8% 15.8% , , , , , % 10.6% 8.9% -14.2% -14.2% , , , , , % -14.0% -17.3% 11.1% 11.1% , , , , , % 13.9% 12.0% 14.5% 14.5% , , % 16.6% (1) On September 28, 2012, the Company spun-off Hyster-Yale Materials Handling, Inc. ("Hyster-Yale", ticker symbol HY), a former wholly owned subsidiary of the Company. The financial position, results of operations and cash flows of Hyster-Yale and any costs incurred by NACCO and Other related to the spin-off are reflected as discontinued operations for (2) Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities. (3) Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters. (4) Total debt presented excludes the obligations of the unconsolidated mines. The unconsolidated mines' customers arrange and guarantee the financing of the unconsolidated mines. These obligations are without recourse to and are not guaranteed by North American Coal or NACCO. The unconsolidated mines are not consolidated in periods after December 31, 2002, since NACCO and North American Coal are not the primary beneficiaries. (5) The fourth quarter of 2012 dividend included a one-time special cash dividend of $3.50 per share and a regular quarterly cash dividend of 25 cents per share. The 25 cent per share dividend paid in the fourth quarter of 2012 was the first regular quarterly dividend following the spin-off of Hyster-Yale. (6) The fourth quarter of 2014 included a non-cash impairment charge of $105.1 million with respect to its Centennial mining operations. (7) The third quarter of 2016 included an impairment charge of $17.4 million with respect to its Centennial mining operations.

3 The North American Coal Corporation (in thousands, except percentage data, tons of coal sold and limerock yards delivered) Tons of coal sold - Unconsolidated mines Tons of coal sold - Consolidated mines Limerock yards delivered Revenues ,334 19,199 38,012 50, , ,147 43,567 52,870 46, , ,872 49,780 49,840 33, , ,319 37,942 42,704 26, , ,287 23,089 32,402 25, , ,300 28,100 Gross Profit (Loss) ,920 3,829 6,404 10,845 27, ,729 7,845 4,025 4,631 25, ,845 (1,847) 1,934 (6,071) (3,139) ,153 (2,305) (6,950) (2,714) (10,816) ,028 2,289 1,708 2,316 12, ,592 4,644 Earnings of unconsolidated mines ,006 10,579 11,471 11,188 45, ,098 10,281 11,808 12,242 46, ,438 11,567 12,064 12,327 48, ,553 12,076 12,234 11,569 48, ,648 13,035 15,102 14,453 55, ,955 13,475 Operating Expenses (4) (5) ,998 5,256 9,243 8,506 30, ,042 6,930 6,093 12,133 34, ,630 9,537 9, , , ,499 7,389 9,294 11,913 37, ,934 10,501 27,722 14,803 61, ,221 7,243 Operating Profit (Loss) (4) (5) ,928 9,152 8,632 13,527 43, ,785 11,196 9,740 4,740 37, , ,362 (100,228) (89,030) ,207 2,382 (4,010) (3,058) ,742 4,823 (10,912) 1,966 5, ,326 10,876 Interest (Income) Expense , , ,327 1,497 1,465 5, ,325 1,118 1,061 1,041 4, ,024 1, ,101 4, Other (Income) Expense 2012 (281) (357) (329) (358) (1,325) 2013 (354) (295) 13 (377) (1,013) 2014 (324) 469 (143) (1,129) (197) (162) (195) (1,683) 2016 (198) 2,041 (198) (198) 1, (184) (180)

4 The North American Coal Corporation (in thousands, except percentage data, tons of coal sold and limerock yards delivered) Income (Loss) Before Taxes (4) (5) Effective Income Tax Rate ,539 8,889 8,102 13,277 41, % 19.8% n.m. 37.6% 21.6% ,361 10,865 8,940 4,222 35, % 17.6% 12.8% -32.4% 9.8% ,055 (1,613) 3,008 (101,735) (94,285) % n.m. n.m. 41.2% 45.9% ,011 1,461 (4,909) (3,904) (2,341) % n.m. n.m. n.m. n.m ,916 1,729 (11,696) 1, % n.m. n.m. n.m. n.m ,637 10, % 17.7% Net Income (Loss) (4) (5) ,207 7,130 8,143 8,290 32, ,591 8,952 7,794 5,589 31, ,705 (75) 3,185 (59,792) (50,977) ,547 4,199 (5,345) 2,218 5, ,253 3,324 (12,677) 9,344 8, ,289 8,438 Depreciation, depletion and amortization expense ,049 1,949 3,017 3,834 10, ,030 3,445 4,397 4,729 16, ,778 5,585 5,700 5,940 22, ,403 4,151 4,339 4,174 17, ,944 3,020 3,630 3,088 12, ,088 3,151 Capital Expenditures ,709 28,660 3,432 3,324 37, ,225 5,297 10,066 31,160 52, ,936 7,019 5,366 7,907 51, ,065 1,059 1, , ,517 3,106 1,657 2,829 10, ,421 2,276 Net cash provided by (used for) operating activities ,552 (4,718) 17,292 16,032 50, ,379 2,384 11,629 5,133 29, ,016 (9,661) 6,149 (20,586) (6,082) ,427 3,799 10,437 10,262 95, (3,471) 3,580 16,380 18,451 34, (11,361) 28,695 Net cash provided by (used for) investing activities ,807 (11,345) (57,260) (6,522) (56,320) 2013 (5,427) (5,073) (15,164) (30,521) (56,185) 2014 (31,125) (6,835) (5,443) (740) (44,143) 2015 (257) (858) (964) 567 (1,512) 2016 (1,548) (4,093) (5) 1,730 (3,916) 2017 (2,632) (1,035) Cash flow before financing activities (1) ,359 (16,063) (39,968) 9,510 (6,162) ,952 (2,689) (3,535) (25,388) (26,660) 2014 (13,109) (16,496) 706 (21,326) (50,225) ,170 2,941 9,473 10,829 94, (5,019) (513) 16,375 20,181 31, (13,993) 27,660 Net cash provided by (used for) financing activities 2012 (41,657) 34,237 26,369 (9,839) 9, (7,339) 843 3,537 25,387 22, ,094 16,496 (290) 21,101 50, (71,352) (2,905) (8,097) 456 (81,898) 2016 (1,253) 474 (4,910) (27,075) (32,764) ,029 (27,650) Dividends to (capital contributions from) NACCO ,000 10,192 5,432-25, (3,000) (5,300) (3,000) (8,500) (19,800) ,300 5,900 10,

5 The North American Coal Corporation (in thousands, except percentage data, tons of coal sold and limerock yards delivered) Total debt (2) , , , , , , , , , , , , , , , , , , , , , , ,227 96,039 96, ,070 69,130 Equity Return on Equity (3) (4) (5) ,424 92,526 95, , , % 29.7% 34.8% 34.0% 34.0% , , , , , % 33.4% 30.8% 26.4% 26.4% , , , , , % 13.8% 9.9% -36.5% -36.5% , , , , , % -37.8% -48.1% 5.2% 5.2% , , , , , % 7.5% 1.0% 7.5% 7.5% , , % 12.7% (1) Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing (2) Total debt presented excludes the obligations of the unconsolidated mines. The unconsolidated mines' customers arrange and guarantee the financing of the unconsolidated mines. These obligations are without recourse to and are not guaranteed by North American Coal or NACCO. The unconsolidated mines are not consolidated in periods after December 31, 2002, since NACCO and North American Coal are not the primary beneficiaries. (3) Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters. (4) The fourth quarter of 2014 included a non-cash impairment charge of $105.1 million with respect to its Centennial mining operations. (5) The third quarter of 2016 included an impairment charge of $17.4 million with respect to its Centennial mining operations.

6 Hamilton Beach Brands, Inc. (in thousands, except percentage data) Revenues Revenues % Change Year Over Year , , , , , % 6.1% -1.5% 12.3% 5.8% , , , , , % 3.6% 7.4% 6.5% 5.0% , , , , , % 3.3% 0.8% 6.2% 2.2% , , , , , % 9.4% 20.8% 0.0% 11.0% , , , , , % -1.9% -3.7% 0.1% -2.5% , , % 0.4% Gross Profit Gross Profit % ,089 20,840 24,455 37, , % 18.8% 19.6% 20.9% 19.6% ,212 24,062 27,633 43, , % 21.0% 20.6% 22.6% 21.1% ,106 24,623 28,298 45, , % 20.8% 20.9% 22.2% 21.0% ,808 24,579 33,553 41, , % 19.0% 20.5% 20.1% 19.8% ,158 25,620 35,029 46, , % 20.2% 22.3% 22.7% 21.2% ,615 27, % 21.3% Operating Expenses Operating Expenses as a % of revenues ,938 15,792 15,792 17,952 66, % 14.2% 12.7% 9.9% 12.7% ,544 20,057 15,845 21,100 74, % 17.5% 11.8% 10.9% 13.6% ,169 22,372 18,767 22,490 81, % 18.9% 13.9% 11.0% 14.6% ,620 21,699 21,910 23,109 88, % 16.8% 13.4% 11.3% 14.2% ,091 20,924 20,630 22,736 85, % 16.5% 13.1% 11.1% 14.1% ,833 21, % 17.2% Operating Profit (Loss) Operating Profit (Loss) % ,151 5,048 8,663 19,953 35, % 4.6% 7.0% 11.0% 6.9% ,668 4,005 11,788 22,499 40, % 3.5% 8.8% 11.7% 7.5% ,251 9,531 23,053 35, % 1.9% 7.1% 11.3% 6.4% ,188 2,880 11,643 18,090 34, % 2.2% 7.1% 8.8% 5.6% ,696 14,399 23,871 43, % 3.7% 9.2% 11.6% 7.1% , % 4.0% Interest (Income) Expense , , , , , Other (Income) Expense 2012 (395) 818 (304) (183) 426 (60) (87) , (181) 981 (106) 1, (247) (700) (310) Income (Loss) Before Taxes Effective Income Tax Rate ,675 3,548 8,442 19,171 32, % 37.6% 38.3% 33.5% 35.4% ,382 3,140 11,679 22,019 39, % 36.8% 36.4% 35.6% 36.0% ,014 8,950 22,117 33, % 32.5% 32.9% 30.2% 30.9% ,561 10,241 17,762 31, % 36.8% 37.7% 37.3% 37.3% 2016 (402) 4,620 13,726 23,154 41, % 36.5% 30.7% 37.9% 35.4% ,102 5, % 37.3% Net Income (Loss) ,027 2,214 5,206 12,753 21, ,501 1,985 7,427 14,180 25, ,359 6,008 15,427 23, ,618 6,378 11,135 19, (261) 2,934 9,511 14,373 26, ,195 Depreciation and amortization expense ,213 3, ,398 3, ,106 2, ,207 1,003 1,662 4, ,051 1,183 1,648 4, , Net Working Capital (1) ,964 80, ,746 96,913 96, ,488 77,444 96,328 93,515 93, ,203 91,278 95, , , , , , , , ,872 78,058 84,622 95,088 95, ,132 87,789

7 Hamilton Beach Brands, Inc. (in thousands, except percentage data) Capital Expenditures ,043 3, ,042 2, , ,765 4, , ,653 1,210 4, ,280 1, ,526 4, Net cash provided by (used for) operating activities ,454 12,964 (11,934) 19,906 27, ,057 18,550 (4,987) 24,134 40, (16,076) 11,163 9,644 13,850 18, (10,161) 9,546 (4,216) 18,772 13, ,013 17,055 14,468 14,195 58, (11,476) 7,522 Net cash provided by (used for) investing activities 2012 (441) (840) (891) (1,043) (3,215) 2013 (333) (394) (509) (1,042) (2,278) 2014 (495) (1,511) (745) (26,765) (29,516) 2015 (1,167) (332) (1,653) (1,623) (4,775) 2016 (1,280) (995) (998) (1,515) (4,788) 2017 (967) (951) Cash flow before financing activities (2) ,013 12,124 (12,825) 18,863 24, ,724 18,156 (5,496) 23,092 38, (16,571) 9,652 8,899 (12,915) (10,935) 2015 (11,328) 9,214 (5,869) 17,149 9, ,733 16,060 13,470 12,680 53, (12,443) 6,571 Net cash provided by (used for) financing activities 2012 (14,195) (9,819) 10,875 (17,592) (30,731) 2013 (5,022) (14,430) 2,592 (24,369) (41,229) ,189 (8,531) (6,564) 8,371 12, ,959 (8,822) 3,942 (17,167) (10,088) 2016 (10,595) (13,814) (12,313) (15,115) (51,837) ,863 (6,501) Dividends to (capital contributions from) NACCO ,000-5,000 15, ,000 20, ,300 22, ,000 15, ,000 32, Total debt ,000 41,389 52,253 39,676 39, ,654 20,223 22,816 18,447 18, ,636 29,105 22,781 53,453 53, ,412 56,590 60,532 58,365 58, ,770 34,156 21,829 38,715 38, ,578 47,076 Equity Return on Equity (3) ,148 29,190 35,297 43,111 43, % 65.2% 63.4% 58.9% 58.9% ,480 47,742 55,102 52,264 52, % 53.4% 52.2% 51.5% 51.5% ,390 53,620 59,378 49,613 49, % 44.6% 40.1% 43.3% 43.3% ,664 50,896 56,154 51,377 51, % 45.0% 45.2% 38.3% 38.3% ,592 52,176 61,567 44,057 44, % 38.6% 42.9% 51.1% 51.1% ,511 48, % 55.1% (1) Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable. (2) Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities. (3) Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

8 Kitchen Collection, LLC (in thousands, except percentage data and number of stores) Number of stores Average sales per store Revenues ,293 42,340 48,154 88, , ,711 38,380 42,618 75, , ,876 32,804 37,551 61, , ,967 29,782 34,708 56, , ,383 28,634 32,895 54, , ,665 25,868 Gross Profit Gross Profit % ,499 18,654 21,413 36,266 95, % 44.1% 44.5% 40.8% 42.6% ,476 15,730 17,701 30,065 80, % 41.0% 41.5% 39.9% 41.3% ,677 13,985 16,478 26,481 71, % 42.6% 43.9% 43.2% 42.5% ,101 13,327 15,683 24,889 67, % 44.7% 45.2% 44.0% 44.4% ,944 12,673 15,032 24,742 65, % 44.3% 45.7% 45.4% 45.3% ,903 11, % 45.2% Operating Expenses Operating Expenses as a % of revenues ,077 23,817 23,286 29, , % 56.3% 48.4% 32.8% 44.7% ,456 21,137 21,359 26,923 91, % 55.1% 50.1% 35.7% 46.9% ,191 18,240 17,907 21,358 78, % 55.6% 47.7% 34.8% 46.7% ,146 16,299 16,526 17,864 66, % 54.7% 47.6% 31.6% 44.3% ,834 15,684 15,953 17,544 65, % 54.8% 48.5% 32.2% 45.0% ,182 14, % 56.8% Operating Profit (Loss) Operating Profit (Loss) % 2012 (4,578) (5,163) (1,873) 7,102 (4,512) % -12.2% -3.9% 8.0% -2.0% 2013 (4,980) (5,407) (3,658) 3,142 (10,903) % -14.1% -8.6% 4.2% -5.6% 2014 (6,514) (4,255) (1,429) 5,123 (7,075) % -13.0% -3.8% 8.4% -4.2% 2015 (3,045) (2,972) (843) 7, % -10.0% -2.4% 12.4% 0.1% 2016 (2,890) (3,011) (921) 7, % -10.5% -2.8% 13.2% 0.3% 2017 (3,279) (3,008) % -11.6% Interest (Income) Expense Other (Income) Expense Income (Loss) Before Taxes Effective Income Tax Rate 2012 (4,695) (5,315) (2,015) 6,948 (5,077) % 40.0% 40.0% 40.6% 39.2% 2013 (5,054) (5,505) (3,762) 2,958 (11,363) % 56.3% 25.0% 45.6% 39.4% 2014 (6,620) (4,363) (1,535) 5,011 (7,507) % 39.1% 37.1% 39.1% 38.7% 2015 (3,092) (3,017) (904) 6,961 (52) % 38.7% 39.3% 44.4% n.m 2016 (2,937) (3,079) (991) 7, % 36.5% 27.6% 41.1% n.m 2017 (3,332) (3,101) % 36.5% Net Income (Loss) 2012 (2,817) (3,189) (1,208) 4,127 (3,087) 2013 (3,267) (2,403) (2,822) 1,608 (6,884) 2014 (4,033) (2,657) (966) 3,053 (4,603) 2015 (1,893) (1,848) (549) 3,870 (420) 2016 (1,868) (1,954) (717) 4,184 (355) 2017 (2,143) (1,970) Depreciation and amortization expense ,455 3, ,992 4, ,487 3, , ,

9 Net Working Capital (1) ,932 45,176 41,694 30,582 30, ,806 38,490 37,343 33,862 33, ,279 35,526 31,157 23,542 23, ,432 26,427 26,712 17,963 17, ,496 20,397 20,347 16,413 16, ,863 19,183 Capital Expenditures , , , , , , Kitchen Collection, LLC (in thousands, except percentage data and number of stores) Net cash provided by (used for) operating activities 2012 (19,074) (4,066) 1,360 25,534 3, (17,925) (3,509) (2,014) 13,377 (10,071) 2014 (10,371) (3,088) 3,552 17,004 7, (5,291) (1,472) 1,539 17,772 12, (9,282) (1,952) 1,206 13,861 3, (10,685) (1,622) Net cash provided by (used for) investing activities 2012 (1,737) (782) (914) (419) (3,852) 2013 (757) (554) (479) (323) (2,113) 2014 (229) (166) (255) (142) (792) 2015 (114) (363) (659) (632) (1,768) 2016 (511) (203) (339) (84) (1,137) 2017 (253) (207) Cash flow before financing activities (2) 2012 (20,811) (4,848) ,115 (98) 2013 (18,682) (4,063) (2,493) 13,054 (12,184) 2014 (10,600) (3,254) 3,297 16,862 6, (5,405) (1,835) ,140 10, (9,793) (2,155) ,777 2, (10,938) (1,829) Net cash provided by (used for) financing activities ,952 4,977 (451) (14,720) (242) ,219 3,951 2,517 (13,244) 1, ,268 3,690 (3,409) (12,101) (1,552) ,850 (940) (1,310) (6,000) 2,158 (908) (5,250) (10,000) ,400 1,800 Dividends to (capital contributions from) NACCO , , ,000 - Total debt ,972 14,964 14, ,221 12,172 14,704 1,460 1, ,728 15,419 12, ,250 1, ,000 6,158 5, ,400 7,200 Equity Return on Equity (3) ,926 40,736 39,529 43,656 43, % 2.6% 1.0% -7.2% -7.2% ,389 37,986 35,164 36,772 36, % -6.8% -11.1% -17.7% -17.7% ,739 30,082 29,116 32,170 32, % -22.9% -18.5% -14.3% -14.3% ,277 28,429 27,880 31,750 31, % -5.5% -4.2% -1.4% -1.4% ,882 17,928 17,210 21,394 21, % -2.0% -2.9% -1.6% -1.6% ,252 14, % -3.7% (1) Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable. (2) Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities. (3) Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.

10 Income (Loss) Before Taxes (1) 2012 (1,850) (2,336) (855) (6,597) (11,638) 2013 (2,837) (1,365) (1,340) (2,034) (7,576) 2014 (1,637) (2,268) (1,289) (2,570) (7,764) 2015 (1,628) (1,170) (1,265) (883) (4,946) 2016 (1,730) (1,592) (2,025) (1,378) (6,725) 2017 (1,818) (2,778) Net Income (Loss) 2012 (1,452) (2,237) 493 (4,485) (7,681) 2013 (2,003) (1,048) (1,137) (1,530) (5,718) 2014 (1,197) (1,673) (906) (1,568) (5,344) 2015 (1,239) (697) (774) (636) (3,346) 2016 (1,067) (1,118) (1,526) (1,105) (4,816) 2017 (1,338) (2,132) (1) NACCO and Other (in thousands, except percentage data) On September 28, 2012, the Company spun-off Hyster-Yale Materials Handling, Inc. ("Hyster-Yale", ticker symbol HY), a former wholly owned subsidiary of the Company. The financial position, results of operations and cash flows of Hyster-Yale and any costs incurred by NACCO and Other related to the spin-off are reflected as discontinued operations for 2012.