Hamilton Beach 2015 Annual Report Download - page 5

(5) Cash Flow before Financing Activities is equal to net cash provided by operating activities less net cash used for investing activities.
(6) Adjusted EBITDA is provided solely as a supplemental disclosure with respect to operating results. Adjusted EBITDA does not represent net income, as
defined by U.S. GAAP and should not be considered as a substitute for net income or net loss, or as an indicator of our operating performance. NACCO
defines Adjusted EBITDA as income before discontinued operations, Applica settlement and litigation charges, long-lived asset and goodwill impairment
charges and income taxes plus net interest expense and depreciation, depletion and amortization expense. Adjusted EBITDA is not a measurement
under U.S. GAAP and is not necessarily comparable with similarly titled measures of other companies.
(7) Includes employees of Weston Brands starting in 2014, Centennial from 2012 to 2014 and the unconsolidated mines for all years presented. Excludes
employees of Hyster-Yale for all years presented.
$ 31,645
24,229
5,026
39,697
$ 100,597
$ (10,755)
(3,705)
(2,292)
(33)
$ (16,785)
$ 20,890
20,524
2,734
39,664
$ 83,812
$ (22,446)
$ 79,875
4,000
$ 50,158
27,390
3,754
(6,96 7)
$ 74,335
$ (56,320)
(3,215)
(3,852)
(381)
$ (63,768)
$ (6,162)
24,175
(98)
(7,348)
$ 10,567
$ (24,520)
$ 81,946
4,300
$ 29,525
40,754
(10,071)
(7,143)
$ 53,065
$ (56,185)
(2,278)
(2,113)
(158)
$ (60,734)
$ (26,660)
38,476
(12,184)
(7,301)
$ (7,669)
$ (36,776)
$ 88,815
4,100
$ (6,082)
18,581
7,097
203
$ 19,799
$ (44,143)
(29,516)
(792)
(483)
$ (74,934)
$ (50,225)
(10,935)
6,305
(280)
$ (55,135)
$ 20,979
$ 63,351
4,000
$ 95,925
13,941
12,548
(14,412)
$ 108,002
$ (1,512)
(4,775)
(1,768)
(236)
$ (8,291)
$ 94,413
9,166
10,780
(14,648)
$ 99,711
$(108,301)
$ 54,929
3,600
Year Ended December 31
2015 2014(1) 2013 2012(2) 2011(2)(3)
(In thousands)
Calculation of Adjusted EBITDA(6)
Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Discontinued operations, net of tax . . . . . . . . . . . . .
Applica settlement and litigation costs . . . . . . . . . .
Centennial long-lived asset
impairment charge. . . . . . . . . . . . . . . . . . . . . . . . . .
Centennial goodwill impairment charge . . . . . . . . .
Income tax provision (benefit) . . . . . . . . . . . . . . . . . .
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Depreciation, depletion and amortization
expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Adjusted EBITDA(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$ (38,118)
–
–
105,119
–
(38,455)
7,566
(831)
28,070
$ 63,351
$ 162,071
(82,601)
(57,146)
–
–
32,751
8,789
(290)
16,301
$ 79,875
$ 108,698
(66,535)
–
–
–
15,865
6,088
(162)
17,992
$ 81,946
$ 44,450
–
–
–
3,973
11,270
4,775
(225)
24,572
$ 88,815
$ 21,984
–
–
–
–
2,815
6,924
(474)
23,680
$ 54,929
Year Ended December 31
2015 2014(1) 2013 2012(2) 2011(2)(3)
(In thousands, except employee data)
Cash Flow Data:
Operating Activities
North American Coal Corporation . . . . . . . . . . . .
Hamilton Beach Brands . . . . . . . . . . . . . . . . . . . . .
Kitchen Collection . . . . . . . . . . . . . . . . . . . . . . . . . .
NACCO and Other . . . . . . . . . . . . . . . . . . . . . . . . . .
Provided by operating activities
from continuing operations . . . . . . . . . . . . . . . . . .
Investing Activities
North American Coal Corporation . . . . . . . . . . . .
Hamilton Beach Brands . . . . . . . . . . . . . . . . . . . . .
Kitchen Collection . . . . . . . . . . . . . . . . . . . . . . . . . .
NACCO and Other . . . . . . . . . . . . . . . . . . . . . . . . . .
Used for investing activities
from continuing operations . . . . . . . . . . . . . . . . . .
Cash Flow before Financing Activities(5)
North American Coal Corporation . . . . . . . . . . . .
Hamilton Beach Brands . . . . . . . . . . . . . . . . . . . . .
Kitchen Collection . . . . . . . . . . . . . . . . . . . . . . . . . .
NACCO and Other . . . . . . . . . . . . . . . . . . . . . . . . . .
Consolidated Cash Flow before Financing Activities
from continuing operations(5) . . . . . . . . . . . . . . . . . .
Provided by (used for) financing activities
from continuing operations . . . . . . . . . . . . . . . . . .
Other Data:
Adjusted EBITDA(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Total employees at December 31(7) . . . . . . . . . . . . . .
3