EXHIBIT 99(i)
NACCO Industries, Inc.
Unaudited Consolidating Statement of Operations and Comprehensive Income (Loss)
For the Year Ended December 31, 2002
(In millions)
NMHG
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Wholesale Retail Elims Consolidated Housewares
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Net sales $1,414.8 $ 241.0 $ (68.8) $ 1,587.0 $ 610.3
Other revenues 1.4 - - 1.4 -
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Revenues 1,416.2 241.0 (68.8) 1,588.4 610.3
Cost of sales 1,174.5 191.1 (70.9) 1,294.7 470.8
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Gross profit 241.7 49.9 2.1 293.7 139.5
Selling, general and administrative expenses 180.5 55.8 (1.8) 234.5 98.6
Restructuring charges 12.3 - - 12.3 -
Loss on sale of dealers - 1.2 - 1.2 -
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Operating profit (loss) 48.9 (7.1) 3.9 45.7 40.9
Other income (expense)
Interest expense (25.9) (3.1) (4.9) (33.9) (8.1)
Loss on interest rate swap agreements (5.7) - - (5.7) (0.8)
Closed mine obligations - - - - -
Income (loss) from unconsolidated affiliates 0.5 - - 0.5 -
Other-net 1.7 1.5 - 3.2 (2.0)
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(29.4) (1.6) (4.9) (35.9) (10.9)
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Income (loss) before income taxes, minority interest
and extraordinary loss 19.5 (8.7) (1.0) 9.8 30.0
Income tax provision (benefit) (0.8) (0.2) (0.3) (1.3) 12.2
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Income (loss) before minority interest
and extraordinary loss 20.3 (8.5) (0.7) 11.1 17.8
Minority interest income 1.2 - - 1.2 -
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Income (loss) before extraordinary loss 21.5 (8.5) (0.7) 12.3 17.8
Extraordinary loss - - - - -
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Net income (loss) $ 21.5 $ (8.5) $ (0.7) $ 12.3 $ 17.8
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Change in comprehensive income (loss) 1.8 1.2 - 3.0 (6.0)
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Comprehensive income (loss) $ 23.3 $ (7.3) $ (0.7) $ 15.3 $ 11.8
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NACoal
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Project NACoal
Mining Excl Proj NACCO & NACCO
Subsidiaries Mines Consolidated Other Elims Consolidated
------------ --------- ------------ -------- ------ ------------
Net sales $ 263.1 $ 77.2 $ 340.3 $ - $ - $ 2,537.6
Other revenues - 9.0 9.0 0.1 - 10.5
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Revenues 263.1 86.2 349.3 0.1 - 2,548.1
Cost of sales 217.6 64.5 282.1 0.2 - 2,047.8
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Gross profit 45.5 21.7 67.2 (0.1) - 500.3
Selling, general and administrative expenses 3.1 14.0 17.1 4.8 - 355.0
Restructuring charges - - - - - 12.3
Loss on sale of dealers - - - - - 1.2
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Operating profit (loss) 42.4 7.7 50.1 (4.9) - 131.8
Other income (expense)
Interest expense (16.7) (11.1) (27.8) - 0.5 (69.3)
Loss on interest rate swap agreements - - - - - (6.5)
Closed mine obligations - - - (1.3) - (1.3)
Income (loss) from unconsolidated affiliates - - - - - 0.5
Other-net 0.4 (0.9) (0.5) 4.3 (0.5) 4.5
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(16.3) (12.0) (28.3) 3.0 - (72.1)
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Income (loss) before income taxes, minority interest
and extraordinary loss 26.1 (4.3) 21.8 (1.9) - 59.7
Income tax provision (benefit) 4.2 (2.0) 2.2 (1.8) - 11.3
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Income (loss) before minority interest
and extraordinary loss 21.9 (2.3) 19.6 (0.1) - 48.4
Minority interest income - - - - - 1.2
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Income (loss) before extraordinary loss 21.9 (2.3) 19.6 (0.1) - 49.6
Extraordinary loss - - - (7.2) - (7.2)
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Net income (loss) $ 21.9 $ (2.3) $ 19.6 $ (7.3) $ - $ 42.4
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Change in comprehensive income (loss) (0.3) (1.3) (1.6) - - (4.6)
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Comprehensive income (loss) $ 21.6 $ (3.6) $ 18.0 $ (7.3) $ - $ 37.8
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