10-Q Filing

MESABI TRUST CIK: 65172 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-050647`
Period End Date	20110731
Filing Date	20110908
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	msb-20110731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 32 Cash Flow Statement 42

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Certificate of beneficial interest of land trust, units	`CertificateOfBeneficialInterestUnits`	13.12M	shares	Point-in-time
Certificate of beneficial interest of land trust, units	`CertificateOfBeneficialInterestUnits`	13.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.87M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$668.89K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$336.10K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$232.79K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$6.03M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$143.88K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$50.21K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$14.37M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$9.65M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$217.89K	USD	Point-in-time
Amended Assignment of Peters Lease	`AmendedAssignmentsOfLeaseProperty`	$1.00	USD	Point-in-time
Amended Assignment of Peters Lease	`AmendedAssignmentsOfLeaseProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Lease	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Lease	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Certificate of beneficial interest for 13,120,010 units of land trust	`CertificateOfBeneficialInterestLandTrust`	$1.00	USD	Point-in-time
Certificate of beneficial interest for 13,120,010 units of land trust	`CertificateOfBeneficialInterestLandTrust`	$1.00	USD	Point-in-time
Total Fixed property, including intangibles, at nominal values	`FixedPropertyIncludingIntagible`	$3.00	USD	Point-in-time
Total Fixed property, including intangibles, at nominal values	`FixedPropertyIncludingIntagible`	$3.00	USD	Point-in-time
Total Assets	`Assets`	$9.65M	USD	Point-in-time
Total Assets	`Assets`	$14.59M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$8.53M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$7.87M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$73.84K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$129.76K	USD	Point-in-time
Deferred royalty revenue (Note 4)	`DeferredRevenue`	$991.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.94M	USD	Point-in-time
Total Liabilities	`Liabilities`	$8.66M	USD	Point-in-time
Unallocated Reserve (Note 5)	`UnallocatedReserve`	$987.80K	USD	Point-in-time
Unallocated Reserve (Note 5)	`UnallocatedReserve`	$5.66M	USD	Point-in-time
Trust Corpus	`CapitalUnits`	$3.00	USD	Point-in-time
Trust Corpus	`CapitalUnits`	$3.00	USD	Point-in-time
Total Liabilities, Unallocated Reserve and Trust Corpus	`LiabilitiesAndStockholdersEquity`	$14.59M	USD	Point-in-time
Total Liabilities, Unallocated Reserve and Trust Corpus	`LiabilitiesAndStockholdersEquity`	$9.65M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RoyaltyRevenue`	$16.22M	USD	2 Qtrs
Royalty income	`RoyaltyRevenue`	$11.23M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$13.61M	USD	2 Qtrs
Royalty income	`RoyaltyRevenue`	$10.33M	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$10.66K	USD	2 Qtrs
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$1.23K	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$2.69K	USD	2 Qtrs
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$5.57K	USD	1 Quarter
Total revenues	`Revenues`	$11.23M	USD	1 Quarter
Total revenues	`Revenues`	$16.23M	USD	2 Qtrs
Total revenues	`Revenues`	$10.33M	USD	1 Quarter
Total revenues	`Revenues`	$13.61M	USD	2 Qtrs
Expenses	`OperatingExpenses`	$415.77K	USD	2 Qtrs
Expenses	`OperatingExpenses`	$224.69K	USD	1 Quarter
Expenses	`OperatingExpenses`	$200.98K	USD	1 Quarter
Expenses	`OperatingExpenses`	$432.55K	USD	2 Qtrs
Net income	`ProfitLoss`	$10.13M	USD	1 Quarter
Net income	`ProfitLoss`	$13.20M	USD	2 Qtrs
Net income	`ProfitLoss`	$15.79M	USD	2 Qtrs
Net income	`ProfitLoss`	$11.01M	USD	1 Quarter
Number of units outstanding (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	1 Quarter
Number of units outstanding (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	1 Quarter
Number of units outstanding (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	2 Qtrs
Number of units outstanding (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	2 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.01	USD	2 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.84	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.77	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.20	USD	2 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.80	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.60	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.65	USD	2 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.93	USD	2 Qtrs

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$8.81M	USD	2 Qtrs
Royalties received	`ProceedsFromRoyaltiesReceived`	$10.36M	USD	2 Qtrs
Interest received	`InterestReceivedGovernmentSecurities`	$3.00K	USD	2 Qtrs
Interest received	`InterestReceivedGovernmentSecurities`	$11.18K	USD	2 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$565.37K	USD	2 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$428.05K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.24M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.94M	USD	2 Qtrs
Maturities of U.S. Government Securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$1.54M	USD	2 Qtrs
Maturities of U.S. Government Securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$332.00K	USD	2 Qtrs
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$217.10K	USD	2 Qtrs
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$998.86K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$541.14K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$114.90K	USD	2 Qtrs
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$9.18M	USD	2 Qtrs
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$8.86M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.63M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-824.39K	USD	2 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.44M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.44M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.87M	USD	Point-in-time
Net income	`ProfitLoss`	$10.13M	USD	1 Quarter
Net income	`ProfitLoss`	$13.20M	USD	2 Qtrs
Net income	`ProfitLoss`	$15.79M	USD	2 Qtrs
Net income	`ProfitLoss`	$11.01M	USD	1 Quarter
Increase in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$3.08M	USD	2 Qtrs
Increase in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$5.79M	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$93.68K	USD	2 Qtrs
Decrease (increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-14.39K	USD	2 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-9.89K	USD	2 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-55.92K	USD	2 Qtrs
(Decrease) Increase in deferred royalty revenue	`IncreaseDecreaseInDeferredRevenue`	$991.00K	USD	2 Qtrs
(Decrease) Increase in deferred royalty revenue	`IncreaseDecreaseInDeferredRevenue`	$-2.77M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.24M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.94M	USD	2 Qtrs
Distributions declared	`DistributionsDeclared`	$7.87M	USD	2 Qtrs
Distributions declared	`DistributionsDeclared`	$10.50M	USD	2 Qtrs

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