10-Q Filing

GREAT NORTHERN IRON ORE PROPERTIES CIK: 43410 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0000897101-14-001539`
Period End Date	20140930
Filing Date	20141023
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	gni-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 36 Cash Flow Statement 29 Comprehensive Income 20

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`	$712.20K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$743.69K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$643.43K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$919.09K	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$5.47M	USD	Point-in-time
United States Treasury securities	`HeldToMaturitySecuritiesCurrent`	$7.53M	USD	Point-in-time
Royalties receivable	`ReceivablesNetCurrent`	$5.02M	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`	$31.95K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$13.50M	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`	$1.93M	USD	Point-in-time
Prepaid pension costs	`DefinedBenefitPlanAssetsForPlanBenefitsNoncurrent`	$587.16K	USD	Point-in-time
NONCURRENT ASSETS	`OtherAssetsNoncurrent`	$3.47M	USD	Point-in-time
NONCURRENT ASSETS	`OtherAssetsNoncurrent`	$1.93M	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`	$38.59M	USD	Point-in-time
Accumulated depletion and amortization	`MineralPropertiesAccumulatedDepletion`	$39.11M	USD	Point-in-time
Mineral and surface lands, net	`MineralPropertiesNet`	$365.13K	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`	$304.96K	USD	Point-in-time
Building and equipment, net	`PropertyPlantAndEquipmentNet`	$30.80K	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`	$395.94K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.06M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.83M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$189.29K	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`	$3.90M	USD	Point-in-time
Distributions	`DividendsPayableCurrent`	$3.98M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.33M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.07M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$244.30K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.33M	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`	$12.34M	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
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-848.81K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.91M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-853.18K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-861.91K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.42M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$11.50M	USD	Point-in-time
TOTAL BENEFICIARIES' EQUITY	`StockholdersEquity`	$10.75M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.06M	USD	Point-in-time
TOTAL LIABILITIES AND BENEFICIARIES' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.83M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Royalties	`RoyaltyRevenue`	$4.40M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$14.64M	USD	3 Qtrs
Royalties	`RoyaltyRevenue`	$5.02M	USD	1 Quarter
Royalties	`RoyaltyRevenue`	$14.12M	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$43.41K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$337.74K	USD	3 Qtrs
Interest and other income	`InterestAndOtherIncome`	$35.44K	USD	1 Quarter
Interest and other income	`InterestAndOtherIncome`	$81.31K	USD	3 Qtrs
TOTAL REVENUES	`Revenues`	$5.06M	USD	1 Quarter
TOTAL REVENUES	`Revenues`	$14.98M	USD	3 Qtrs
TOTAL REVENUES	`Revenues`	$14.20M	USD	3 Qtrs
TOTAL REVENUES	`Revenues`	$4.44M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$3.09M	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$3.22M	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$1.12M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$1.04M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$3.94M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$11.76M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$11.11M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$3.40M	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	1 Quarter
Weighted-average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.50M	shares	3 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$2.63	USD	1 Quarter
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$7.41	USD	3 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$7.84	USD	3 Qtrs
BASIC & DILUTED EARNINGS PER SHARE	`EarningsPerShareBasicAndDiluted`	$2.27	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$7.35	USD	3 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$7.35	USD	3 Qtrs
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$2.60	USD	1 Quarter
Distributions declared per share	`CommonStockDividendsPerShareDeclared`	$2.60	USD	1 Quarter
Distributions declared	`CommonStockDividendsPerShareDeclared`	$7.35	USD	3 Qtrs
Distributions declared	`CommonStockDividendsPerShareDeclared`	$7.35	USD	3 Qtrs
Distributions declared	`CommonStockDividendsPerShareDeclared`	$2.60	USD	1 Quarter
Distributions declared	`CommonStockDividendsPerShareDeclared`	$2.60	USD	1 Quarter

Cash Flow Statement 29 line items

Line Item	Tag	Value	Unit	Period
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$14.12M	USD	3 Qtrs
Cash received from royalties and rents	`ProceedsFromRoyaltiesReceived`	$14.40M	USD	3 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$3.21M	USD	3 Qtrs
Cash paid to suppliers and employees	`PaymentsToSuppliersAndEmployees`	$3.92M	USD	3 Qtrs
Interest received	`ProceedsFromInterestReceived`	$59.02K	USD	3 Qtrs
Interest received	`ProceedsFromInterestReceived`	$28.24K	USD	3 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.97M	USD	3 Qtrs
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.51M	USD	3 Qtrs
United States Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$4.50M	USD	3 Qtrs
United States Treasury securities purchased	`PaymentsToAcquireHeldToMaturitySecurities`	$3.52M	USD	3 Qtrs
United States Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$5.30M	USD	3 Qtrs
United States Treasury securities matured	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$7.67M	USD	3 Qtrs
Expenditures for building and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.21K	USD	3 Qtrs
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$800.00K	USD	3 Qtrs
NET CASH PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.13M	USD	3 Qtrs
Distributions paid	`PaymentsOfDividends`	$11.10M	USD	3 Qtrs
Distributions paid	`PaymentsOfDividends`	$15.00M	USD	3 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-15.00M	USD	3 Qtrs
NET CASH USED IN FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-11.10M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$206.90K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$100.26K	USD	3 Qtrs
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$712.20K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$743.69K	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`	$919.09K	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`	$743.69K	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`	$919.09K	USD	Point-in-time

Comprehensive Income 20 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$3.94M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$11.76M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$11.11M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$3.40M	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`	$13.10K	USD	3 Qtrs
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$13.10K	USD	3 Qtrs
Amortization of prior service cost included in net periodic pension cost	`OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax`	$4.37K	USD	1 Quarter
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	-	USD	1 Quarter
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-497.65K	USD	3 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	-	USD	3 Qtrs
Amortization of net loss included in net periodic pension cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-165.88K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$510.75K	USD	3 Qtrs
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$4.37K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$170.25K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$13.10K	USD	3 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$3.95M	USD	1 Quarter
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$11.77M	USD	3 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$11.62M	USD	3 Qtrs
TOTAL COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$3.57M	USD	1 Quarter

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