NACCO Industries (NC) 8-K Results of Operations and Financial Condition

Exhibit 99

NACCO Industries, Inc. — Consolidated
(in millions, except percentage data)

	Depreciation, Depletion and
	Amortization Expense
	Q1		Q2		Q3		Q4		FY
1998		21.6		20.8		21.5		25.1		89.0
1999		23.5		24.3		28.7		27.5		104.0
2000		25.8		25.5		26.0		28.8		106.1
2001		29.2		28.7		29.6		30.1		117.6
2002		18.6		17.0		17.8		16.8		70.2
2003		17.1		17.1		16.4		17.8		68.4
2004		16.1		15.7

	Net Working Capital (1)
	Q1		Q2		Q3		Q4		FY
1998		336.6		366.1		421.7		378.4		378.4
1999		393.6		409.5		420.2		428.1		428.1
2000		422.8		446.5		482.1		464.2		464.2
2001		450.7		444.8		470.0		389.8		389.8
2002		338.8		372.2		393.8		346.9		346.9
2003		354.8		386.8		423.9		373.2		373.2
2004		333.3		365.6

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
1998		17.2		23.9		31.6		27.6		100.3
1999		16.0		17.2		24.9		17.4		75.5
2000		24.2		20.1		21.0		28.0		93.3
2001		20.9		28.4		29.8		25.7		104.8
2002		8.8		6.6		6.9		7.8		30.1
2003		6.3		27.4		13.6		12.4		59.7
2004		10.8		15.7

	Net Cash Provided by (Used for) Operating Activities
	Q1		Q2			Q3			Q4		FY
1998		9.0		15.8			(6.0	)		125.5		144.3
1999		17.7		24.3			35.4			51.7		129.1
2000		16.0		20.0			14.9			82.1		133.0
2001		26.0		32.1			(19.1	)		97.0		136.0
2002		36.9		16.6			(0.8	)		96.5		149.2
2003		1.3		(2.1	)		6.6			117.5		123.3
2004		13.1		(11.8	)

	Net Cash Provided by (Used for) Investing Activities
	Q1			Q2			Q3			Q4			FY
1998		(18.1	)		(29.1	)		(36.6	)		(38.0	)		(121.8	)
1999		(51.8	)		(25.0	)		(57.1	)		(27.5	)		(161.4	)
2000		(22.3	)		(22.6	)		(22.3	)		(167.0	)		(234.2	)
2001		(22.9	)		(28.1	)		(26.9	)		(17.2	)		(95.1	)
2002		(7.8	)		(4.8	)		(4.8	)		(0.8	)		(18.2	)
2003		0.7			(21.6	)		(12.6	)		(9.3	)		(42.8	)
2004		(6.9	)		(14.3	)

	Cash Flow Before Financing Activities (2)
	Q1			Q2			Q3			Q4			FY
1998		(9.1	)		(13.3	)		(42.6	)		87.5			22.5
1999		(34.1	)		(0.7	)		(21.7	)		24.2			(32.3	)
2000		(6.3	)		(2.6	)		(7.4	)		(84.9	)		(101.2	)
2001		3.1			4.0			(46.0	)		79.8			40.9
2002		29.1			11.8			(5.6	)		95.7			131.0
2003		2.0			(23.7	)		(6.0	)		108.2			80.5
2004		6.2			(26.1	)

	Net Cash Provided by (Used for) Financing Activities
	Q1			Q2			Q3			Q4			FY
1998		0.1			24.1			33.9			(70.2	)		(12.1	)
1999		41.5			(14.1	)		35.7			(27.8	)		35.3
2000		(2.0	)		8.6			23.6			68.1			98.3
2001		3.2			(12.4	)		52.5			(44.9	)		(1.6	)
2002		(39.9	)		(18.2	)		(18.3	)		(70.4	)		(146.8	)
2003		(9.2	)		5.1			(1.3	)		(66.5	)		(71.9	)
2004		(22.2	)		21.6

1 of 12

NACCO Industries, Inc. — Consolidated
(in millions, except percentage data)

	Dividends Paid to Shareholders
	Q1		Q2		Q3		Q4		FY
1998		1.6		1.7		1.6		1.7		6.6
1999		1.7		1.7		1.8		1.8		7.0
2000		1.7		1.9		1.8		1.8		7.2
2001		1.8		2.0		1.9		1.9		7.6
2002		1.9		2.0		2.0		2.1		8.0
2003		2.0		2.1		3.1		3.1		10.3
2004		3.1		3.2

	Total Debt (4)
	Q1		Q2		Q3		Q4		FY
1998		270.5		291.6		333.6		296.4		296.4
1999		353.3		357.7		408.0		395.3		395.3
2000		404.8		445.0		469.8		561.7		561.7
2001		572.9		567.5		639.0		614.7		614.7
2002		563.8		566.7		551.8		484.3		484.3
2003		479.9		489.8		491.3		435.2		435.2
2004		416.4		440.9

	Equity
	Q1		Q2		Q3		Q4		FY
1998		446.8		471.9		491.8		518.3		518.3
1999		523.5		534.0		544.3		562.2		562.2
2000		566.0		569.8		566.7		606.4		606.4
2001		598.1		599.6		570.6		529.3		529.3
2002		536.6		547.8		547.7		559.4		559.4
2003		563.8		585.6		598.7		637.0		637.0
2004		629.9		630.0

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
1998		n.a.			n.a.			n.a.			n.a.			n.a.
1999		18.3	%		15.7	%		12.7	%		9.9	%		9.9	%
2000		9.3	%		8.6	%		8.9	%		11.8	%		11.8	%
2001		12.3	%		10.9	%		4.7	%		-6.2	%		-6.2	%
2002		-7.6	%		-8.3	%		-1.9	%		7.8	%		7.8	%
2003		7.3	%		8.4	%		8.9	%		9.0	%		9.0	%
2004		7.3	%		6.7	%

(1)	Net working capital is equal to accounts receivable, net plus inventories 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.
(4)	Total debt presented excludes the obligations of the project mining subsidiaries. The project mining subsidiaries’ utility customers arrange and guarantee the financing of the project mining subsidiaries. These obligations are without recourse to and are not guaranteed by North American Coal or NACCO.

2 of 12

NACCO Materials Handling Group — Consolidated
(in millions, except percentage data)

	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
1998		9.1		8.7		8.9		11.2		37.9
1999		11.4		12.0		16.2		14.5		54.1
2000		13.5		13.1		12.8		15.2		54.6
2001		14.7		14.4		15.0		16.3		60.4
2002		12.4		12.0		12.2		11.1		47.7
2003		11.3		11.0		10.3		11.5		44.1
2004		10.7		10.6

	Net Working Capital (1)
	Q1		Q2		Q3		Q4		FY
1998		197.4		211.1		236.0		219.6		219.6
1999		238.6		235.7		221.2		243.8		243.8
2000		254.6		267.4		270.0		277.2		277.2
2001		269.8		265.0		259.6		223.4		223.4
2002		227.3		241.6		249.0		245.8		245.8
2003		232.9		263.9		286.3		275.9		275.9
2004		248.6		264.4

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
1998		9.9		15.0		17.7		21.3		63.9
1999		9.7		10.3		15.8		10.4		46.2
2000		16.2		8.6		12.4		14.6		51.8
2001		9.7		20.3		17.3		6.2		53.5
2002		6.2		2.9		3.0		4.0		16.1
2003		3.2		6.4		7.6		10.4		27.6
2004		7.0		11.2

	Net Cash Provided by (Used for) Operating Activities
	Q1		Q2			Q3			Q4		FY
1998		11.2		14.0			(5.9	)		61.7		81.0
1999		23.3		20.2			32.2			3.7		79.4
2000		9.7		8.0			20.8			24.1		62.6
2001		12.7		8.2			(14.7	)		24.8		31.0
2002		30.4		15.0			(9.0	)		35.7		72.1
2003		12.7		(16.1	)		(6.4	)		59.9		50.1
2004		24.3		(12.4	)

	Net Cash Provided by (Used for) Investing Activities
	Q1			Q2			Q3			Q4			FY
1998		(10.8	)		(15.3	)		(20.7	)		(30.3	)		(77.1	)
1999		(43.7	)		(15.5	)		(41.8	)		(15.1	)		(116.1	)
2000		(15.4	)		(10.0	)		(11.5	)		(22.8	)		(59.7	)
2001		(10.7	)		(17.7	)		(16.2	)		(2.6	)		(47.2	)
2002		(5.4	)		(2.3	)		(0.9	)		1.3			(7.3	)
2003		3.8			(0.6	)		(8.0	)		(6.3	)		(11.1	)
2004		(3.1	)		(10.3	)

	Cash Flow Before Financing Activities (2)
	Q1			Q2			Q3			Q4			FY
1998		0.4			(1.3	)		(26.6	)		31.4			3.9
1999		(20.4	)		4.7			(9.6	)		(11.4	)		(36.7	)
2000		(5.7	)		(2.0	)		9.3			1.3			2.9
2001		2.0			(9.5	)		(30.9	)		22.2			(16.2	)
2002		25.0			12.7			(9.9	)		37.0			64.8
2003		16.5			(16.7	)		(14.4	)		53.6			39.0
2004		21.2			(22.7	)

	Net Cash Provided by (Used for) Financing Activities
	Q1			Q2			Q3			Q4			FY
1998		(7.8	)		8.2			17.1			(16.9	)		0.6
1999		36.7			(17.1	)		20.8			7.0			47.4
2000		(2.4	)		10.0			4.4			(22.1	)		(10.1	)
2001		8.1			2.3			35.3			6.6			52.3
2002		(29.7	)		(19.0	)		(13.4	)		(11.7	)		(73.8	)
2003		(22.5	)		(3.2	)		8.5			(16.9	)		(34.1	)
2004		(30.8	)		16.5

3 of 12

NACCO Materials Handling Group — Consolidated
(in millions, except percentage data)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
1998		—		—		—		—		—
1999		—		—		—		—		—
2000		—		10.0		—		—		10.0
2001		—		2.5		1.3		1.2		5.0
2002		15.0		—		—		—		15.0
2003		1.2		1.3		1.3		1.2		5.0
2004		—		—

	Total Debt
	Q1		Q2		Q3		Q4		FY
1998		153.3		175.6		194.5		200.2		200.2
1999		241.1		227.6		256.6		270.7		270.7
2000		269.1		307.1		309.0		304.9		304.9
2001		316.8		314.5		358.9		362.4		362.4
2002		349.0		350.6		336.4		324.8		324.8
2003		306.3		307.0		316.5		307.7		307.7
2004		277.2		292.9

	Equity
	Q1		Q2		Q3		Q4		FY
1998		405.6		431.0		449.3		462.0		462.0
1999		466.8		473.2		466.2		468.7		468.7
2000		472.1		464.5		458.6		463.0		463.0
2001		456.1		447.6		421.9		382.0		382.0
2002		372.1		385.2		382.2		382.3		382.3
2003		382.2		402.6		407.4		424.8		424.8
2004		425.4		422.1

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
1998		n.a.			n.a.			n.a.			n.a.			n.a.
1999		14.7	%		11.2	%		8.3	%		5.1	%		5.1	%
2000		4.1	%		4.2	%		5.1	%		4.6	%		4.6	%
2001		4.7	%		2.6	%		-5.4	%		-11.4	%		-11.4	%
2002		-12.8	%		-13.9	%		-6.2	%		3.2	%		3.2	%
2003		3.0	%		4.7	%		5.5	%		4.1	%		4.1	%
2004		3.3	%		2.5	%

(1)	Net working capital is equal to accounts receivable, net plus inventories 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.

4 of 12

NACCO Materials Handling Group — Wholesale
(in millions, except percentage data)

	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
1998		9.1		8.7		8.9		9.4		36.1
1999		9.3		10.0		9.9		10.7		39.9
2000		10.3		10.2		10.3		9.8		40.6
2001		11.0		11.2		11.1		13.7		47.0
2002		7.6		7.6		7.4		6.8		29.4
2003		6.6		6.6		6.4		6.6		26.2
2004		6.7		6.6

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
1998		9.9		15.0		17.7		15.3		57.9
1999		8.8		8.5		14.7		12.7		44.7
2000		11.4		7.9		9.1		14.9		43.3
2001		9.2		12.3		14.7		10.4		46.6
2002		5.4		2.4		1.9		2.4		12.1
2003		2.8		5.6		6.1		7.5		22.0
2004		6.8		8.6

5 of 12

Housewares — Consolidated *
(in millions, except percentage data)

	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
1998		4.6		3.9		4.2		4.0		16.7
1999		4.1		4.4		4.2		4.9		17.6
2000		4.6		4.6		5.0		5.1		19.3
2001		5.6		5.4		5.3		4.9		21.2
2002		4.2		2.9		3.4		3.4		13.9
2003		3.2		3.2		3.2		3.1		12.7
2004		2.5		2.2

	Net Working Capital (1)
	Q1		Q2		Q3		Q4		FY
1998		105.2		118.3		150.4		122.0		122.0
1999		116.9		130.1		151.5		151.1		151.1
2000		137.2		152.6		184.0		150.4		150.4
2001		138.9		140.1		172.3		120.7		120.7
2002		100.3		115.2		133.0		109.7		109.7
2003		105.6		109.7		124.9		107.8		107.8
2004		90.2		100.8

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
1998		5.0		4.5		4.0		3.3		16.8
1999		2.2		4.0		6.2		4.1		16.5
2000		5.9		5.4		5.6		5.1		22.0
2001		4.4		4.0		3.4		1.6		13.4
2002		1.0		1.5		1.3		1.5		5.3
2003		1.4		1.9		1.0		1.5		5.8
2004		2.6		2.6

	Net Cash Provided by (Used for) Operating Activities
	Q1			Q2			Q3			Q4		FY
1998		(13.2	)		(10.1	)		(12.0	)		46.0		10.7
1999		(2.0	)		(3.6	)		(6.3	)		21.2		9.3
2000		(0.7	)		(12.3	)		(17.0	)		54.4		24.4
2001		0.5			—			(25.3	)		53.3		28.5
2002		17.4			(4.6	)		(5.3	)		44.5		52.0
2003		(6.7	)		0.2			2.0			45.7		41.2
2004		(3.4	)		(9.0	)

	Net Cash Provided by (Used for) Investing Activities
	Q1			Q2			Q3			Q4			FY
1998		(5.0	)		(4.3	)		(4.1	)		(3.2	)		(16.6	)
1999		(2.2	)		(4.0	)		(6.2	)		(4.1	)		(16.5	)
2000		(3.4	)		(5.4	)		(5.6	)		(5.0	)		(19.4	)
2001		(4.4	)		(4.0	)		(3.4	)		(1.6	)		(13.4	)
2002		(1.1	)		(1.4	)		(1.3	)		0.6			(3.2	)
2003		(1.4	)		(1.9	)		(1.0	)		(1.5	)		(5.8	)
2004		(2.6	)		(2.5	)

	Cash Flow Before Financing Activities (2)
	Q1			Q2			Q3			Q4		FY
1998		(18.2	)		(14.4	)		(16.1	)		42.8		(5.9	)
1999		(4.2	)		(7.6	)		(12.5	)		17.1		(7.2	)
2000		(4.1	)		(17.7	)		(22.6	)		49.4		5.0
2001		(3.9	)		(4.0	)		(28.7	)		51.7		15.1
2002		16.3			(6.0	)		(6.6	)		45.1		48.8
2003		(8.1	)		(1.7	)		1.0			44.2		35.4
2004		(6.0	)		(11.5	)

	Net Cash Provided by (Used for) Financing Activities
	Q1			Q2		Q3			Q4			FY
1998		16.8			14.7		16.7			(39.6	)		8.6
1999		1.9			6.1		12.9			(15.5	)		5.4
2000		2.1			17.9		23.7			(43.9	)		(0.2	)
2001		0.1			2.3		29.5			(46.4	)		(14.5	)
2002		(21.8	)		6.4		6.4			(45.0	)		(54.0	)
2003		6.9			2.7		(3.0	)		(42.8	)		(36.2	)
2004		3.9			13.3

6 of 12

Housewares — Consolidated *
(in millions, except percentage data)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
1998		1.3		—		—		1.0		2.3
1999		2.7		2.1		2.2		1.1		8.1
2000		1.1		0.6		—		—		1.7
2001		2.1		0.5		0.5		6.9		10.0
2002		—		—		—		3.5		3.5
2003		0.5		0.5		0.5		11.3		12.8
2004		1.0		5.0

	Total Debt
	Q1		Q2		Q3		Q4		FY
1998		103.2		117.9		134.6		96.0		96.0
1999		100.5		108.7		123.8		109.4		109.4
2000		112.7		130.2		153.9		111.0		111.0
2001		113.2		116.0		145.9		106.8		106.8
2002		85.2		92.0		98.7		57.9		57.9
2003		65.4		68.7		66.2		35.0		35.0
2004		40.0		58.7

	Equity
	Q1		Q2		Q3		Q4		FY
1998		135.3		135.4		140.3		150.2		150.2
1999		147.3		148.5		151.3		163.9		163.9
2000		161.1		160.0		162.8		170.9		170.9
2001		164.1		164.8		161.3		145.6		145.6
2002		143.5		141.3		143.8		153.9		153.9
2003		149.7		150.1		156.2		161.6		161.6
2004		148.6		151.3

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
1998		n.a.			n.a.			n.a.			n.a.			n.a.
1999		11.1	%		13.2	%		12.7	%		13.9	%		13.9	%
2000		13.2	%		10.4	%		8.8	%		5.4	%		5.4	%
2001		4.5	%		4.7	%		3.3	%		-7.6	%		-7.6	%
2002		-7.6	%		-7.7	%		-5.0	%		12.2	%		12.2	%
2003		11.7	%		12.4	%		12.5	%		12.6	%		12.6	%
2004		10.7	%		10.5	%

* Housewares Consolidated includes Hamilton BeachuProctor-Silex, Kitchen Collection and the related intercompany eliminations.

(1)	Net working capital is equal to accounts receivable, net plus inventories 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.

7 of 12

Hamilton BeachuProctor-Silex, Inc.
(in millions, except percentage data)

	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
1998		4.3		3.7		3.9		3.8		15.7
1999		3.8		4.2		4.0		4.6		16.6
2000		4.3		4.4		4.8		4.8		18.3
2001		5.3		5.1		5.0		4.7		20.1
2002		3.9		2.6		3.1		2.7		12.3
2003		2.9		2.9		2.8		2.7		11.3
2004		2.2		1.8

	Net Working Capital (1)
	Q1		Q2		Q3		Q4		FY
1998		92.8		107.4		139.7		113.7		113.7
1999		105.8		119.1		140.2		141.7		141.7
2000		124.6		138.7		171.2		140.5		140.5
2001		126.9		126.5		160.4		112.5		112.5
2002		91.7		103.9		122.1		101.2		101.2
2003		93.0		98.2		115.0		100.7		100.7
2004		78.2		87.6

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
1998		4.7		4.2		3.8		3.2		15.9
1999		2.1		3.9		5.9		3.7		15.6
2000		5.7		5.3		4.6		4.7		20.3
2001		4.1		3.7		2.5		1.3		11.6
2002		0.7		0.9		1.0		1.4		4.0
2003		1.0		1.4		0.9		1.2		4.5
2004		2.3		1.3

	Net Cash Provided by (Used for) Operating Activities
	Q1			Q2			Q3			Q4		FY
1998		(9.6	)		(10.8	)		(13.9	)		39.7		5.4
1999		1.8			(2.1	)		(6.8	)		14.2		7.1
2000		5.1			(10.8	)		(18.5	)		46.1		21.9
2001		5.2			1.9			(27.9	)		43.7		22.9
2002		20.6			(3.0	)		(7.5	)		35.2		45.3
2003		1.1			(1.0	)		(0.5	)		35.1		34.7
2004		6.2			(7.3	)

	Net Cash Provided by (Used for) Investing Activities
	Q1			Q2			Q3			Q4			FY
1998		(4.7	)		(4.0	)		(3.8	)		(3.2	)		(15.7	)
1999		(2.1	)		(3.9	)		(5.9	)		(3.7	)		(15.6	)
2000		(3.2	)		(5.3	)		(4.6	)		(4.7	)		(17.8	)
2001		(4.1	)		(3.7	)		(2.5	)		(1.3	)		(11.6	)
2002		(0.7	)		(0.9	)		(1.0	)		0.7			(1.9	)
2003		(1.0	)		(1.4	)		(0.9	)		(1.2	)		(4.5	)
2004		(2.3	)		(1.1	)

	Cash Flow Before Financing Activities (2)
	Q1			Q2			Q3			Q4		FY
1998		(14.3	)		(14.8	)		(17.7	)		36.5		(10.3	)
1999		(0.3	)		(6.0	)		(12.8	)		10.6		(8.5	)
2000		1.9			(16.1	)		(23.2	)		41.4		4.0
2001		1.2			(1.8	)		(30.4	)		42.4		11.4
2002		19.9			(3.9	)		(8.5	)		35.9		43.4
2003		0.1			(2.4	)		(1.4	)		33.9		30.2
2004		3.9			(8.4	)

	Net Cash Provided by (Used for) Financing Activities
	Q1			Q2		Q3			Q4			FY
1998		13.0			15.2		18.3			(33.4	)		13.1
1999		(1.9	)		4.4		13.3			(9.1	)		6.7
2000		(3.8	)		16.3		24.3			(36.1	)		0.7
2001		(5.0	)		0.2		31.2			(37.7	)		(11.3	)
2002		(24.8	)		4.3		8.3			(35.9	)		(48.1	)
2003		(1.3	)		3.3		(0.5	)		(33.2	)		(31.7	)
2004		(5.4	)		10.3

8 of 12

Hamilton BeachuProctor-Silex, Inc.
(in millions, except percentage data)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
1998		1.3		—		—		—		1.3
1999		2.2		2.2		2.2		—		6.6
2000		0.6		0.6		—		—		1.2
2001		1.1		0.5		0.5		2.5		4.6
2002		—		—		—		—		—
2003		0.5		0.5		0.5		7.5		9.0
2004		1.0		5.0

	Total Debt
	Q1		Q2		Q3		Q4		FY
1998		95.1		110.2		128.6		95.1		95.1
1999		95.4		101.9		117.3		108.2		108.2
2000		105.0		121.9		146.2		110.2		110.2
2001		106.3		107.0		138.7		103.7		103.7
2002		79.3		83.8		92.4		57.2		57.2
2003		56.5		60.3		60.3		35.0		35.0
2004		30.6		46.3

	Equity
	Q1		Q2		Q3		Q4		FY
1998		125.1		125.7		130.1		138.9		138.9
1999		136.4		138.3		140.7		152.1		152.1
2000		150.3		149.5		151.8		157.7		157.7
2001		152.5		153.9		149.8		135.5		135.5
2002		133.6		131.5		132.9		143.0		143.0
2003		139.4		140.0		145.9		151.4		151.4
2004		139.0		142.4

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
1998		n.a.			n.a.			n.a.			n.a.			n.a.
1999		10.7	%		12.8	%		12.3	%		13.5	%		13.5	%
2000		12.7	%		9.8	%		8.1	%		4.5	%		4.5	%
2001		3.6	%		4.2	%		2.5	%		-9.6	%		-9.6	%
2002		-10.1	%		-10.6	%		-8.3	%		9.9	%		9.9	%
2003		9.6	%		10.6	%		11.3	%		11.3	%		11.3	%
2004		9.3	%		9.4	%

(1)	Net working capital is equal to accounts receivable, net plus inventories 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.

9 of 12

The Kitchen Collection, Inc.
(in millions, except percentage and number of stores)

	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
1998		0.3		0.3		0.3		0.3		1.2
1999		0.3		0.3		0.2		0.3		1.1
2000		0.3		0.2		0.2		0.3		1.0
2001		0.3		0.3		0.3		0.3		1.2
2002		0.3		0.3		0.3		0.7		1.6
2003		0.3		0.3		0.3		0.3		1.2
2004		0.3		0.3

	Net Working Capital (1)
	Q1		Q2		Q3		Q4		FY
1998		12.6		11.2		10.6		8.3		8.3
1999		10.6		11.2		11.7		9.7		9.7
2000		12.9		14.1		13.0		9.9		9.9
2001		11.8		13.1		11.9		8.3		8.3
2002		8.6		11.2		11.0		8.6		8.6
2003		12.7		11.7		10.3		7.5		7.5
2004		12.5		13.5

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
1998		0.3		0.3		0.3		—		0.9
1999		—		0.2		0.3		0.4		0.9
2000		0.2		0.2		1.0		0.4		1.8
2001		0.3		0.4		0.9		0.3		1.9
2002		0.3		0.6		0.3		0.1		1.3
2003		0.3		0.5		0.1		0.3		1.2
2004		0.3		1.3

	Net Cash Provided by (Used for) Operating Activities
	Q1			Q2			Q3		Q4		FY
1998		(3.7	)		0.7			1.9		6.3		5.2
1999		(3.8	)		(1.5	)		0.6		6.9		2.2
2000		(5.8	)		(1.4	)		1.6		8.2		2.6
2001		(4.8	)		(1.8	)		2.6		9.7		5.7
2002		(3.2	)		(1.7	)		2.3		9.2		6.6
2003		(8.0	)		1.2			2.6		10.6		6.4
2004		(9.7	)		(1.7	)

	Net Cash Provided by (Used for) Investing Activities
	Q1			Q2			Q3			Q4			FY
1998		(0.3	)		(0.3	)		(0.4	)		(0.1	)		(1.1	)
1999		—			(0.2	)		(0.3	)		(0.4	)		(0.9	)
2000		(0.2	)		(0.2	)		(1.0	)		(0.3	)		(1.7	)
2001		(0.3	)		(0.4	)		(0.9	)		(0.3	)		(1.9	)
2002		(0.3	)		(0.6	)		(0.3	)		(0.1	)		(1.3	)
2003		(0.3	)		(0.5	)		(0.1	)		(0.3	)		(1.2	)
2004		(0.3	)		(1.3	)

	Cash Flow Before Financing Activities (2)
	Q1			Q2			Q3		Q4		FY
1998		(3.9	)		0.4			1.6		6.3		4.4
1999		(3.9	)		(1.8	)		0.3		6.5		1.1
2000		(6.0	)		(1.6	)		0.6		7.9		0.9
2001		(5.1	)		(2.2	)		1.7		9.4		3.8
2002		(3.5	)		(2.2	)		1.9		9.1		5.3
2003		(8.3	)		0.7			2.5		10.2		5.1
2004		(10.0	)		(3.0	)

	Net Cash Provided by (Used for) Financing Activities
	Q1		Q2			Q3			Q4			FY
1998		3.8		(0.4	)		(1.6	)		(6.2	)		(4.4	)
1999		3.8		1.7			(0.3	)		(6.4	)		(1.2	)
2000		5.9		1.6			(0.6	)		(7.8	)		(0.9	)
2001		5.1		2.1			(1.7	)		(8.8	)		(3.3	)
2002		2.9		2.2			(1.9	)		(9.1	)		(5.9	)
2003		8.2		(0.6	)		(2.5	)		(9.6	)		(4.5	)
2004		9.3		3.0

10 of 12

The Kitchen Collection, Inc.
(in millions, except percentage and number of stores)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
1998		—		—		—		1.0		1.0
1999		0.5		—		—		1.2		1.7
2000		0.5		—		—		—		0.5
2001		1.0		—		—		4.5		5.5
2002		—		—		—		3.5		3.5
2003		—		—		—		3.8		3.8
2004		—		—

	Total Debt
	Q1		Q2		Q3		Q4		FY
1998		8.1		7.7		6.0		0.8		0.8
1999		5.1		6.8		6.4		1.2		1.2
2000		7.6		8.3		7.6		0.8		0.8
2001		6.9		9.0		7.3		3.0		3.0
2002		5.9		8.2		6.3		0.7		0.7
2003		8.9		8.3		5.8		—		—
2004		9.3		12.4

	Equity
	Q1		Q2		Q3		Q4		FY
1998		10.2		9.8		10.2		11.3		11.3
1999		10.4		10.2		10.7		11.7		11.7
2000		10.9		10.6		11.0		13.2		13.2
2001		11.6		11.0		11.4		10.0		10.0
2002		9.8		9.8		10.8		10.8		10.8
2003		10.4		10.2		10.6		10.5		10.5
2004		10.0		9.2

	Return on Equity (3)
	Q1			Q2			Q3			Q4			FY
1998		n.a.			n.a.			n.a.			n.a.			n.a.
1999		15.4	%		18.3	%		18.9	%		19.3	%		19.3	%
2000		20.4	%		19.4	%		17.3	%		17.4	%		17.4	%
2001		14.8	%		12.2	%		12.9	%		20.1	%		20.1	%
2002		26.0	%		32.7	%		38.6	%		43.0	%		43.0	%
2003		39.7	%		36.5	%		30.3	%		33.3	%		33.3	%
2004		31.9	%		28.7	%

(1)	Net working capital is equal to accounts receivable, net plus inventories 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.

11 of 12

The North American Coal Corporation
(in millions, except percentage data)

	Depreciation, Depletion and
	Amortization Expense
	Q1		Q2		Q3		Q4		FY
2002		2.1		2.0		2.1		2.3		8.5
2003		2.5		2.9		2.9		3.2		11.5
2004		2.9		2.9

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
2002		1.2		1.9		2.4		2.3		7.8
2003		1.7		19.1		3.8		1.6		26.2
2004		1.2		1.9

	Net Cash Provided by (Used for) Operating Activities
	Q1		Q2		Q3		Q4		FY
2002		n.a.		n.a.		n.a.		n.a.		36.3
2003		6.6		9.4		11.4		9.9		37.3
2004		12.0		5.1

	Net Cash Provided by (Used for) Investing Activities
	Q1			Q2			Q3			Q4			FY
2002		n.a.			n.a.			n.a.			n.a.			(6.9	)
2003		(1.7	)		(19.1	)		(3.5	)		(1.7	)		(26.0	)
2004		(1.2	)		(1.5	)

	Cash Flow Before Financing Activities (1)
	Q1		Q2			Q3		Q4		FY
2002		n.a.		n.a.			n.a.		n.a.		29.4
2003		4.9		(9.7	)		7.9		8.2		11.3
2004		10.8		3.6

	Net Cash Provided by (Used for) Financing Activities
	Q1			Q2			Q3			Q4			FY
2002		n.a.			n.a.			n.a.			n.a.			(31.0	)
2003		(4.9	)		10.0			(7.3	)		(9.1	)		(11.3	)
2004		(10.6	)		(3.8	)

	Dividends to NACCO
	Q1		Q2		Q3		Q4		FY
2002		1.0		—		0.6		2.1		3.7
2003		2.1		4.0		5.2		1.4		12.7
2004		3.7		2.1

	Total Debt
	Q1		Q2		Q3		Q4		FY
2002		n.a.		n.a.		n.a.		n.a.		127.3
2003		124.5		138.5		136.4		128.7		128.7
2004		121.7		120.2

	Equity
	Q1		Q2		Q3		Q4		FY
2002		55.6		58.3		59.7		63.2		63.2
2003		64.7		66.5		66.0		67.2		67.2
2004		71.3		75.3

	Return on Equity (2)
	Q1			Q2			Q3			Q4			FY
2002		n.a.			n.a.			n.a.			n.a.			n.a.
2003		27.4	%		24.8	%		24.4	%		21.8	%		21.8	%
2004		25.0	%		25.0	%

(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 activities.
(2)	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.

12 of 12