10-Q Filing

GREAT NORTHERN IRON ORE PROPERTIES CIK: 43410 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0000897101-13-001081`
Period End Date	20130630
Filing Date	20130719
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	gni-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 29 Comprehensive Income 20

Balance Sheet 60 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`	$643.43K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$519.57K	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$8.43M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$6.01M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$4.74M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$4.07M	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$2.11K	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$53.46K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$13.14M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$11.32M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$3.34M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$4.30M	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
Accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$38.25M	USD	Point-in-time
Accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$37.90M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$1.23M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$1.58M	USD	Point-in-time
Building and equipment	`PropertyPlantAndEquipmentGross`	$334.54K	USD	Point-in-time
Building and equipment	`PropertyPlantAndEquipmentGross`	$335.57K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$253.01K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$236.67K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$82.56K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$97.87K	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$1.32M	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$1.68M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$19.12M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.97M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$104.26K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$109.91K	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$3.75M	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$7.88M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.86M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$7.98M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$229.10K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$229.10K	USD	Point-in-time
Liability for pension benefits	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.56M	USD	Point-in-time
Liability for pension benefits	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.51M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.74M	USD	Point-in-time
TOTAL NONCURRENT LIABILITIES	`LiabilitiesNoncurrent`	$1.79M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.65M	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`	$11.82M	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`	$12.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.44M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.19M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.25M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.42M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$10.32M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$9.40M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$19.12M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.97M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$7.31M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$14.31M	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	$9.72M	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	$5.01M	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$53.71K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$45.87K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$23.35K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$19.55K	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$5.03M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$7.33M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$14.36M	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$9.76M	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$2.05M	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$1.01M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$1.05M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$2.11M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$6.28M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$12.25M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$4.02M	USD	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
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$4.19	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$8.17	USD	2 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$2.68	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$5.14	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`	$2.50	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$2.50	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$4.75	USD	2 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$4.75	USD	2 Qtrs

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$9.08M	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 received	`ProceedsFromInterestReceived`	$40.95K	USD	2 Qtrs
Interest received	`ProceedsFromInterestReceived`	$11.29K	USD	2 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$7.78M	USD	2 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$13.83M	USD	2 Qtrs
U.S. Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$2.67M	USD	2 Qtrs
U.S. Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$5.00M	USD	2 Qtrs
U.S. Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.05M	USD	2 Qtrs
U.S. Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.03M	USD	2 Qtrs
Expenditures for building and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.64K	USD	2 Qtrs
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$3.34M	USD	2 Qtrs
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.95M	USD	2 Qtrs
Distributions paid	`PaymentsOfDividends`	$12.00M	USD	2 Qtrs
Distributions paid	`PaymentsOfDividends`	$11.25M	USD	2 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-11.25M	USD	2 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-12.00M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-123.86K	USD	2 Qtrs
Net decrease 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`	$643.43K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$519.57K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$750.95K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$628.17K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$643.43K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$519.57K	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`	$7.71M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$12.25M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$4.02M	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$4.37K	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$8.73K	USD	2 Qtrs
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$4.37K	USD	1 Quarter
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$8.73K	USD	2 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-123.10K	USD	1 Quarter
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-165.88K	USD	1 Quarter
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-331.77K	USD	2 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-246.19K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$340.50K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$254.93K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$170.25K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$127.47K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$6.41M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$4.19M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$12.50M	USD	2 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$8.05M	USD	2 Qtrs

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