10-Q Filing

GREAT NORTHERN IRON ORE PROPERTIES CIK: 43410 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000897101-12-000643`
Period End Date	20120331
Filing Date	20120426
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	gni-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 16 Cash Flow Statement 28 Comprehensive Income 10

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Beneficiaries' equity - authorized	`CommonStockSharesAuthorized`	1.50M	shares	Point-in-time
Beneficiaries' equity - authorized	`CommonStockSharesAuthorized`	1.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
Beneficiaries' equity - outstanding	`CommonStockSharesOutstanding`	1.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
Beneficiaries' equity - outstanding	`CommonStockSharesOutstanding`	1.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$538.87K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$589.33K	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$4.03M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$5.11M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$7.91M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$6.73M	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$2.11K	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$72.64K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$11.43M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$13.77M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$4.86M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$4.76M	USD	Point-in-time
Mineral and surface lands	`MineralPropertiesGross`	$39.48M	USD	Point-in-time
Mineral and surface lands	`MineralPropertiesGross`	$39.48M	USD	Point-in-time
Less: Allowances for accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$37.20M	USD	Point-in-time
Less: Allowances for accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$37.38M	USD	Point-in-time
Subtotal	`MineralPropertiesNet`	$2.28M	USD	Point-in-time
Subtotal	`MineralPropertiesNet`	$2.10M	USD	Point-in-time
Building and equipment	`PropertyPlantAndEquipmentGross`	$316.82K	USD	Point-in-time
Building and equipment	`PropertyPlantAndEquipmentGross`	$316.82K	USD	Point-in-time
Less: Allowances for accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$221.02K	USD	Point-in-time
Less: Allowances for accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$212.56K	USD	Point-in-time
Subtotal	`PropertyPlantAndEquipmentNet`	$95.80K	USD	Point-in-time
Subtotal	`PropertyPlantAndEquipmentNet`	$104.26K	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$2.38M	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$2.20M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$20.91M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$18.49M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$128.86K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$185.62K	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$3.38M	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$8.62M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.56M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$8.75M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$209.60K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$209.60K	USD	Point-in-time
Liability for pension benefits	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.64M	USD	Point-in-time
Liability for pension benefits	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.69M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.85M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.90M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$10.61M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.46M	USD	Point-in-time
BENEFICIARIES' EQUITY, including certificate holders' equity, represented by 1,500,000 certificates (shares or units) of beneficial interest authorized and outstanding, and the reversionary interest	`CommonStockValue`	$15.35M	USD	Point-in-time
BENEFICIARIES' EQUITY, including certificate holders' equity, represented by 1,500,000 certificates (shares or units) of beneficial interest authorized and outstanding, and the reversionary interest	`CommonStockValue`	$12.75M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$2.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$2.44M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$10.31M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$13.03M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$18.49M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$20.91M	USD	Point-in-time

Income Statement 16 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$7.00M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$5.41M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$34.22K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$30.36K	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$7.03M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$5.45M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$954.20K	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$1.06M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.97M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$4.49M	USD	1 Quarter
Weighted-average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	1.50M	shares	Point-in-time
Weighted-average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	1.50M	shares	Point-in-time
BASIC AND DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$3.00	USD	1 Quarter
BASIC AND DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$3.98	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$2.25	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$2.25	USD	1 Quarter

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$5.99M	USD	1 Quarter
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$8.20M	USD	1 Quarter
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$720.17K	USD	1 Quarter
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$711.91K	USD	1 Quarter
Interest and related premium/discount received (paid)	`ProceedsFromInterestReceived`	$5.01K	USD	1 Quarter
Interest and related premium/discount received (paid)	`ProceedsFromInterestReceived`	$-4.03K	USD	1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$7.49M	USD	1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$5.27M	USD	1 Quarter
United States Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$1.62M	USD	1 Quarter
United States Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$1.52M	USD	1 Quarter
United States Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$1.75M	USD	1 Quarter
United States Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$2.60M	USD	1 Quarter
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$225.00K	USD	1 Quarter
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$975.00K	USD	1 Quarter
Distributions paid	`PaymentsOfDividends`	$5.62M	USD	1 Quarter
Distributions paid	`PaymentsOfDividends`	$8.62M	USD	1 Quarter
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-8.62M	USD	1 Quarter
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-5.62M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-161.61K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-129.44K	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$538.87K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$589.33K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT MARCH 31	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT MARCH 31	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT MARCH 31	`CashAndCashEquivalentsAtCarryingValue`	$538.87K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT MARCH 31	`CashAndCashEquivalentsAtCarryingValue`	$589.33K	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$5.97M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$4.49M	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$4.37K	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$4.37K	USD	1 Quarter
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$76.59K	USD	1 Quarter
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$123.10K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$127.47K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$80.95K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$4.58M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$6.10M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.