5 unchanged sentences
Issuer Purchases of Equity Securities (1)
−Removed: Total Number of Shares Purchased
−Removed: Average Price Paid per Share
−Removed: Total Number of Shares Purchased as Part of the Publicly Announced Program
+Added: Total Number of Shares Purchased (b)
+Added: Average Price Paid per Share (c)
+Added: Total Number of Shares Purchased as Part of the Publicly Announced Program (d)
Maximum Number of Shares (or Approximate Dollar Value) that May Yet Be Purchased Under the Program (1)
2 unchanged sentences
December 1 to 31, 2020 — $ — — $ 22,659,516
+Added: — $ — — $ 22,659,516
(1) On November 6, 2019, the Company's Board of Directors approved a stock purchase program ("2019 Stock Repurchase Program") providing for the purchase of up to $25.0 million of the Company’s outstanding Class A common stock through December 31, 2021.
−Removed: NACCO’s previous repurchase program would have expired on December 31, 2019 but was terminated and replaced by the 2019 Stock Repurchase Program.
See Note 12 to the Consolidated Financial Statements in this Form 10-K for a discussion of the Company's stock repurchase programs.
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(Tabular Amounts in Thousands, Except Per Share and Percentage Data)
+Added: Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
+Added: These statements are based upon management's current expectations and are subject to various uncertainties and changes in circumstances.
+Added: Important factors that could cause actual results to differ materially from those described in these forward-looking statements are set forth below under the heading “Forward-Looking Statements."
Management's Discussion and Analysis of Financial Condition and Results of Operations include NACCO Industries, Inc.
−Removed: ® (the "parent company" or “NACCO”) and its wholly owned subsidiaries (collectively, the “Company”).
−Removed: NACCO is the public holding company for The North American Coal Corporation ® .
−Removed: The North American Coal Corporation and its affiliated companies (collectively, “NACoal”) operate in the mining and natural resources industries through three operating segments:
+Added: ® (“NACCO” or the “Company”).
+Added: NACCO, through a portfolio of mining and natural resources businesses, operates under three business segments:
Coal Mining, North American Mining ("NAMining") and Minerals Management.
−Removed: The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and activated carbon producers pursuant to a service-based business model.
+Added: The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model.
The NAMining segment provides value-added contract mining and other services for producers of aggregates, lithium and other minerals.
−Removed: The Minerals Management segment promotes the development of the Company’s oil, gas and coal reserves, generating income primarily from royalty-based lease payments from third parties.
−Removed: The Company also has costs not directly attributable to a reportable segment which are not included as part of the measurement of segment operating profit, primarily administrative costs related to public company reporting requirements, the financial results of the Company’s mitigation banking business, Mitigation Resources of North America ® (“MRNA”), and Bellaire Corporation (“Bellaire”).
+Added: The Minerals Management segment acquires and promotes the development of oil, gas and coal mineral interests, generating income primarily from royalty-based lease payments from third parties.
+Added: In addition, the Company has a business providing stream and wetland mitigation solutions.
+Added: The Company has items not directly attributable to a reportable segment which are not included as part of the measurement of segment operating profit, which are primarily administrative costs related to public company reporting requirements at the parent company and the financial results of Mitigation Resources of North America ® (“MRNA”) and Bellaire Corporation (“Bellaire”).
MRNA generates and sells stream and wetland mitigation credits (known as mitigation banking) and provides services to those engaged in permittee-responsible stream and wetland mitigation.
1 unchanged sentence
underground mining activities.
−Removed: Management's Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
−Removed: These statements are based upon management's current expectations and are subject to various uncertainties and changes in circumstances.
−Removed: Important factors that could cause actual results to differ materially from those described in these forward-looking statements are set forth below under the heading “Forward-Looking Statements."
+Added: As of January 1, 2020, the Company retrospectively changed its computation of segment operating profit to reclassify certain expenses, primarily related to executive and board compensation.
+Added: These expenses are now included in unallocated items.
+Added: The change in segment reporting reflected a decision to evaluate the financial performance of the Company’s segments excluding executive and board compensation.
+Added: All prior period segment information has been reclassified to conform to the new presentation.
+Added: This segment reporting change has no impact on consolidated operating results.
All financial statement line items below operating profit (other income, including interest expense and interest income, the provision for income taxes and net income) are presented and discussed within this Form 10-K on a consolidated basis.
−Removed: Included within other income on the line Income from other unconsolidated affiliates is the financial results of NoDak Energy Services, LLC ("NoDak").
−Removed: NoDak operates and maintains a coal drying system at a customer’s power plant.
−Removed: The NoDak contract expired in the first quarter of 2020.
Business" beginning on page 1 in this Form 10-K for further discussion of NACCO's subsidiaries.
9 unchanged sentences
Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.
−Removed: The Company accounts for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers", which NACCO adopted on January 1, 2018, using the modified retrospective method.
−Removed: See Note 3 to the Consolidated Financial Statements in this Form 10-K for further discussion of the impact of ASC 606 on the Company's revenue recognition.
+Added: The Company accounts for revenue in accordance with Accounting Standards Codification ("ASC") Topic 606, "Revenue from Contracts with Customers." See Note 3 to the Consolidated Financial Statements in this Form 10-K for further discussion of the Company's revenue recognition.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.