10-Q Filing

GREAT NORTHERN IRON ORE PROPERTIES CIK: 43410 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0000897101-12-001811`
Period End Date	20120930
Filing Date	20121024
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	gni-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 36 Cash Flow Statement 30 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`	$858.62K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$941.44K	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$5.11M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$9.33M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$4.91M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$7.91M	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$29.71K	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$2.11K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$13.77M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$15.13M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$3.77M	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`	$37.72M	USD	Point-in-time
Less: Allowances for accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$37.20M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$2.28M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$1.76M	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`	$237.94K	USD	Point-in-time
Less: Allowances for accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$212.56K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$104.26K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$78.88K	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$2.38M	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$1.83M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$20.74M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$20.91M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$219.36K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$128.86K	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$8.62M	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$5.25M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$8.75M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$5.47M	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`	$977.59K	USD	Point-in-time
Liability for pension benefits	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.64M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.19M	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`	$6.66M	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
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`	$16.14M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.44M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.06M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$10.31M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$14.08M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$20.74M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$20.91M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$19.48M	USD	3 Qtrs
Royalties	`RoyaltyRevenue`	$6.47M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$5.18M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$18.43M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$84.05K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$21.19K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$98.96K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$45.25K	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$18.52M	USD	3 Qtrs
TOTAL REVENUES	`Revenues`	$5.22M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$6.49M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$19.58M	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$956.14K	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$3.07M	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$838.13K	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$2.71M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$4.27M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$16.51M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$15.80M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$5.66M	USD	1 Quarter
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	1 Quarter
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	3 Qtrs
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	3 Qtrs
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$3.77	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$11.01	USD	3 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$10.54	USD	3 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$2.84	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$4.00	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$3.50	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$9.25	USD	3 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$8.75	USD	3 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$4.00	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$3.50	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$9.25	USD	3 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$8.75	USD	3 Qtrs

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$17.96M	USD	3 Qtrs
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$22.56M	USD	3 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$2.74M	USD	3 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$2.39M	USD	3 Qtrs
Interest received	`ProceedsFromInterestReceived`	$38.05K	USD	3 Qtrs
Interest received	`ProceedsFromInterestReceived`	$13.75K	USD	3 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$19.86M	USD	3 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$15.59M	USD	3 Qtrs
U.S. Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$6.90M	USD	3 Qtrs
U.S. Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$6.08M	USD	3 Qtrs
U.S. Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.65M	USD	3 Qtrs
U.S. Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$4.28M	USD	3 Qtrs
Expenditures for building and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Expenditures for building and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.68K	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-3.25M	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.82M	USD	3 Qtrs
Distributions paid	`PaymentsOfDividends`	$16.50M	USD	3 Qtrs
Distributions paid	`PaymentsOfDividends`	$13.50M	USD	3 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-13.50M	USD	3 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-16.50M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$107.67K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$273.13K	USD	3 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$858.62K	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`	$668.31K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$941.44K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT SEPTEMBER 30	`CashAndCashEquivalentsAtCarryingValue`	$858.62K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT SEPTEMBER 30	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT SEPTEMBER 30	`CashAndCashEquivalentsAtCarryingValue`	$668.31K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT SEPTEMBER 30	`CashAndCashEquivalentsAtCarryingValue`	$941.44K	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$4.27M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$16.51M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$15.80M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$5.66M	USD	1 Quarter
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`	$-13.10K	USD	3 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`	$-13.10K	USD	3 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$229.76K	USD	3 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax`	$123.10K	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`	$369.29K	USD	3 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$80.95K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$127.47K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$382.39K	USD	3 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$242.86K	USD	3 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$16.05M	USD	3 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$16.90M	USD	3 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$5.74M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$4.39M	USD	1 Quarter

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