10-Q Filing

GREAT NORTHERN IRON ORE PROPERTIES CIK: 43410 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0000897101-14-001020`
Period End Date	20140630
Filing Date	20140718
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	gni-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 36 Cash Flow Statement 29 Comprehensive Income 18

Balance Sheet 59 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`	$643.43K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$712.20K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$519.57K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$761.49K	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$8.74M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$5.47M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$5.04M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$4.45M	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$2.11K	USD	Point-in-time
Prepaid expenses	`PrepaidInsurance`	$55.03K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$14.60M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$10.63M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesNoncurrent`	$2.88M	USD	Point-in-time
Prepaid pension costs	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$363.62K	USD	Point-in-time
Prepaid pension costs	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$587.16K	USD	Point-in-time
NONCURRENT ASSETS	`OtherAssetsNoncurrent`	$363.62K	USD	Point-in-time
NONCURRENT ASSETS	`OtherAssetsNoncurrent`	$3.47M	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`	$38.94M	USD	Point-in-time
Accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$38.59M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$539.13K	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$887.13K	USD	Point-in-time
Building and equipment	`PropertyPlantAndEquipmentGross`	$335.77K	USD	Point-in-time
Building and equipment	`PropertyPlantAndEquipmentGross`	$335.77K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$263.96K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$291.49K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$44.28K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$71.80K	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$958.93K	USD	Point-in-time
TOTAL PROPERTIES	`TotalProperties`	$583.41K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.06M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.55M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$105.77K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$92.36K	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityCurrent`	$244.30K	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$3.75M	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$3.98M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.07M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.10M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$244.30K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.10M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.31M	USD	Point-in-time
Certificate holders' equity, represented by 1,500,000 certificates (shares or units) of beneficial interest authorized and outstanding, and the reversionary interest	`CommonStockValue`	$11.61M	USD	Point-in-time
Certificate holders' equity, represented by 1,500,000 certificates (shares or units) of beneficial interest authorized and outstanding, and the reversionary interest	`CommonStockValue`	$12.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-857.54K	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
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-861.91K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-853.18K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.25M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$10.75M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$11.45M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.06M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.55M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$5.32M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$9.62M	USD	2 Qtrs
Royalties	`RoyaltyRevenue`	$5.01M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$9.72M	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$12.51K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$294.33K	USD	2 Qtrs
Interest and other income	`InterestAndOtherIncome`	$19.55K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$45.87K	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$5.03M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$9.76M	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$9.92M	USD	2 Qtrs
TOTAL REVENUES	`Revenues`	$5.33M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$1.09M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$1.01M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$2.05M	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$2.10M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$4.02M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$4.24M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$7.81M	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`	$2.68	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$2.83	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$5.14	USD	2 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$5.21	USD	2 Qtrs
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`	$2.50	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$4.75	USD	2 Qtrs
Distributions declared	`CommonStockDividendsPerShareDeclared`	$2.50	USD	1 Quarter
Distributions declared	`CommonStockDividendsPerShareDeclared`	$4.75	USD	2 Qtrs
Distributions declared	`CommonStockDividendsPerShareDeclared`	$2.50	USD	1 Quarter
Distributions declared	`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`	$9.32M	USD	2 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$1.34M	USD	2 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$1.53M	USD	2 Qtrs
Interest received	`ProceedsFromInterestReceived`	$40.95K	USD	2 Qtrs
Interest received	`ProceedsFromInterestReceived`	$17.57K	USD	2 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$7.80M	USD	2 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$7.78M	USD	2 Qtrs
United States Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$4.00M	USD	2 Qtrs
United States Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$2.67M	USD	2 Qtrs
United States Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$3.60M	USD	2 Qtrs
United States Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$6.03M	USD	2 Qtrs
Expenditures for building and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.64K	USD	2 Qtrs
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-400.00K	USD	2 Qtrs
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$3.34M	USD	2 Qtrs
Distributions paid	`PaymentsOfDividends`	$7.35M	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`	$-7.35M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$49.30K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-123.86K	USD	2 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$643.43K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$712.20K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$519.57K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$761.49K	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`	$712.20K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$519.57K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$761.49K	USD	Point-in-time

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$4.02M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$4.24M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$7.71M	USD	2 Qtrs
NET INCOME	`NetIncomeLoss`	$7.81M	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`	$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`	$8.73K	USD	2 Qtrs
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`	$-165.88K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$8.73K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$4.37K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$340.50K	USD	2 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$170.25K	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$4.19M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$7.82M	USD	2 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$8.05M	USD	2 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$4.25M	USD	1 Quarter

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