10-Q Filing

GREAT NORTHERN IRON ORE PROPERTIES CIK: 43410 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0000897101-12-001206`
Period End Date	20120630
Filing Date	20120720
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	gni-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 36 Cash Flow Statement 28 Comprehensive Income 20

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
Beneficiaries' equity - outstanding	`CommonStockSharesOutstanding`	1.50M	shares	Point-in-time
Beneficiaries' equity - outstanding	`CommonStockSharesOutstanding`	1.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$628.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$805.04K	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$6.98M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$5.11M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$7.04M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$7.91M	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$51.17K	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$2.11K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$14.70M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$13.77M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$4.84M	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`	$37.55M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$2.28M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$1.93M	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`	$229.48K	USD	Point-in-time
Less: Allowances for accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$212.56K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$87.34K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$104.26K	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$2.38M	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$2.02M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$21.56M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$20.91M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$178.27K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$128.86K	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$4.50M	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$8.62M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.68M	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`	$1.73M	USD	Point-in-time
Liability for pension benefits	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.64M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.94M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.85M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$10.61M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.62M	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`	$17.13M	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`	$2.19M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$2.44M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$14.94M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$10.31M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$20.91M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$21.56M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$7.31M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$11.96M	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	$6.54M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$14.31M	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$23.35K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$28.64K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$53.71K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$62.86K	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$12.02M	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$6.57M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$14.36M	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$7.33M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$2.11M	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$918.97K	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$1.87M	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$1.05M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$6.28M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.65M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$10.15M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$12.25M	USD	2 Qtrs
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	1 Quarter
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	2 Qtrs
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	2 Qtrs
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$6.77	USD	2 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$4.19	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$3.77	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$8.17	USD	2 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$3.00	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$3.00	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$5.25	USD	2 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$5.25	USD	2 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$3.00	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$3.00	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$5.25	USD	2 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$5.25	USD	2 Qtrs

Cash Flow Statement 28 line items

Line Item	Tag	Value	Unit	Period
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$11.58M	USD	2 Qtrs
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$15.22M	USD	2 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$1.40M	USD	2 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$1.34M	USD	2 Qtrs
Interest and related premium/discount received (paid)	`ProceedsFromInterestReceived`	$11.29K	USD	2 Qtrs
Interest and related premium/discount received (paid)	`ProceedsFromInterestReceived`	$-2.99K	USD	2 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$10.24M	USD	2 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$13.83M	USD	2 Qtrs
U.S. Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$5.00M	USD	2 Qtrs
U.S. Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$4.42M	USD	2 Qtrs
U.S. Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.05M	USD	2 Qtrs
U.S. Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.33M	USD	2 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.10M	USD	2 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.95M	USD	2 Qtrs
Distributions paid	`PaymentsOfDividends`	$12.00M	USD	2 Qtrs
Distributions paid	`PaymentsOfDividends`	$9.00M	USD	2 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-9.00M	USD	2 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-12.00M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$136.73K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-122.78K	USD	2 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$628.17K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$805.04K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT JUNE 30	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT JUNE 30	`CashAndCashEquivalentsAtCarryingValue`	$628.17K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT JUNE 30	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT JUNE 30	`CashAndCashEquivalentsAtCarryingValue`	$805.04K	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$6.28M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.65M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$10.15M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$12.25M	USD	2 Qtrs
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$-4.37K	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$-8.73K	USD	2 Qtrs
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$-4.37K	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$-8.73K	USD	2 Qtrs
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`	$153.17K	USD	2 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$246.19K	USD	2 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$123.10K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$161.91K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$254.93K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$80.95K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$127.47K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$5.73M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$10.31M	USD	2 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$12.50M	USD	2 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$6.41M	USD	1 Quarter

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