Hamilton Beach 2008 Annual Report Download - page 4

1
Selected Financial and Operating Data
NACCO Industries, Inc. and Subsidiaries
Year Ended December 31
2008(1) 2007(2) 2006(2) 2005(2) 2004(2)
(In millions, except per share data)
Operating Statement Data :
Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Earnings of unconsolidated project
mining subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . .
Operating profit (loss) . . . . . . . . . . . . . . . . . . . . . . . . . .
Income (loss) before extraordinary gain . . . . . . . . . . .
Extraordinary gain, net-of-tax(3) . . . . . . . . . . . . . . . . . . .
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Basic Earnings (Loss) per Share:
Income (loss) before extraordinary gain . . . . . . . . . . .
Extraordinary gain, net-of-tax(3) . . . . . . . . . . . . . . . . . . .
Net income (loss) per basic share . . . . . . . . . . . . . . . . .
Diluted Earnings (Loss) per Share:
Income (loss) before extraordinary gain . . . . . . . . . . .
Extraordinary gain, net-of-tax(3) . . . . . . . . . . . . . . . . . . .
Net income (loss) per diluted share . . . . . . . . . . . . . . .
Per Share and Share Data:
Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Market value at December 31 . . . . . . . . . . . . . . . . . .
Stockholders’ equity at December 31 . . . . . . . . . . . .
Actual shares outstanding at December 31 . . . . . . .
Basic weighted average shares outstanding . . . . . .
Diluted weighted average shares outstanding . . . .
Balance Sheet Data at December 31:
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ 3,602.7
$ 37.7
$ 139.3
$ 90.4
–
$ 90.4
$ 10.94
–
$ 10.94
$ 10.93
–
$ 10.93
$ 1.980
$ 99.69
$ 107.80
8.269
8.263
8.272
$ 2,427.3
$ 439.5
$ 891.4
$ 3,349.0
$ 36.0
$ 173.6
$ 94.0
12.8
$ 106.8
$ 11.41
1.56
$ 12.97
$ 11.40
1.56
$ 12.96
$ 1.905
$ 136.60
$ 96.05
8.238
8.234
8.242
$ 2,154.5
$ 359.9
$ 791.3
$ 3,157.4
$ 33.8
$ 108.9
$ 58.4
4.7
$ 63.1
$ 7.10
0.57
$ 7.67
$ 7.10
0.57
$ 7.67
$ 1.848
$ 117.15
$ 85.21
8.226
8.223
8.226
$ 2,091.6
$ 406.2
$ 700.9
$ 2,782.6
$ 31.5
$ 86.9
$ 46.7
0.5
$ 47.2
$ 5.69
0.06
$ 5.75
$ 5.69
0.06
$ 5.75
$ 1.675
$ 105.40
$ 83.39
8.214
8.212
8.214
$ 2,035.6
$ 407.4
$ 685.0
(1) During the fourth quarter of 2008, NACCO’s stock price significantly declined compared with previous periods and the Company’s market value of equity was below
its book value of tangible assets and book value of equity. The Company performed an interim impairment test, which indicated that goodwill and certain other
intangibles were impaired at December 31, 2008. Therefore, the Company recorded a non-cash impairment charge of $435.7 million during the fourth quarter of 2008.
(2) During the fourth quarter of 2008, the Company’s Hamilton Beach subsidiary changed its method of valuing inventories from the last-in, first-out (“LIFO“)
method to the first-in, first-out (“FIFO“) method. Prior-year financial data has been revised to conform to this change.
(3) An extraordinary gain was recognized in 2006, 2005 and 2004 as a result of a reduction to Bellaire Corporation’s estimated closed mine obligations relating to
amounts owed to the United Mine Workers of America Combined Benefit Fund arising as a result of the Coal Industry Retiree Health Benefit Act of 1992.
$ 3,680.3
$ 39.4
$ (387.3)
$ (437.6)
–
$ (437.6)
$ (52.84)
–
$ (52.84)
$ (52.84)
–
$ (52.84)
$ 2.045
$ 37.41
$ 43.05
8.286
8.281
8.281
$ 1,687.9
$ 400.5
$ 356.7