10-Q Filing

MESABI TRUST CIK: 65172 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-061717`
Period End Date	20120731
Filing Date	20120905
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	msb-20120731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 32 Cash Flow Statement 43

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`	$8.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$82.94K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$5.12M	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$387.98K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$53.77K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.93K	USD	Point-in-time
Current assets	`AssetsCurrent`	$10.70M	USD	Point-in-time
Current assets	`AssetsCurrent`	$14.08M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$460.96K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$473.82K	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	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
TOTAL FIXED PROPERTY, including intangibles, at nominal values	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total assets	`Assets`	$11.17M	USD	Point-in-time
Total assets	`Assets`	$14.54M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$8.40M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$9.97M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$117.63K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$166.32K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.14M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$1.03M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$6.03M	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`	$11.17M	USD	Point-in-time
Total Liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$14.54M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RoyaltyRevenue`	$13.61M	USD	2 Qtrs
Royalty income	`RoyaltyRevenue`	$14.75M	USD	2 Qtrs
Royalty income	`RoyaltyRevenue`	$10.33M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$11.06M	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$1.23K	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$352.00	USD	1 Quarter
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$677.00	USD	2 Qtrs
Interest income	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$2.69K	USD	2 Qtrs
Total revenues	`Revenues`	$10.33M	USD	1 Quarter
Total revenues	`Revenues`	$14.75M	USD	2 Qtrs
Total revenues	`Revenues`	$11.06M	USD	1 Quarter
Total revenues	`Revenues`	$13.61M	USD	2 Qtrs
Expenses	`GeneralAndAdministrativeExpense`	$415.77K	USD	2 Qtrs
Expenses	`GeneralAndAdministrativeExpense`	$510.49K	USD	2 Qtrs
Expenses	`GeneralAndAdministrativeExpense`	$200.98K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$186.94K	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$13.20M	USD	2 Qtrs
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	1 Quarter
Number of units outstanding (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	2 Qtrs
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`	$1.01	USD	2 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.83	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.09	USD	2 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.70	USD	2 Qtrs
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`	$0.64	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.60	USD	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$8.81M	USD	2 Qtrs
Royalties received	`ProceedsFromRoyaltiesReceived`	$10.02M	USD	2 Qtrs
Interest received	`InterestReceivedGovernmentSecurities`	$3.00K	USD	2 Qtrs
Interest received	`InterestReceivedGovernmentSecurities`	$700.00	USD	2 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$565.37K	USD	2 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$521.35K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$9.50M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.24M	USD	2 Qtrs
Maturities of U.S. Government securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$332.00K	USD	2 Qtrs
Maturities of U.S. Government securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$35.00K	USD	2 Qtrs
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$105.08K	USD	2 Qtrs
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$217.10K	USD	2 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-70.08K	USD	2 Qtrs
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$114.90K	USD	2 Qtrs
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$9.18M	USD	2 Qtrs
Distributions to Unitholders	`PaymentsOfDistributionsToUnitholders`	$10.82M	USD	2 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-824.39K	USD	2 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-1.39M	USD	2 Qtrs
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, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.86M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	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
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
Net income	`NetIncomeLoss`	$10.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$13.20M	USD	2 Qtrs
Increase in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$4.73M	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`	$-37.84K	USD	2 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-48.69K	USD	2 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-55.92K	USD	2 Qtrs
Increase in deferred royalty revenue	`IncreaseDecreaseInDeferredRevenue`	$991.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$9.50M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.24M	USD	2 Qtrs
Distributions declared	`DistributionsDeclared`	$8.40M	USD	2 Qtrs
Distributions declared	`DistributionsDeclared`	$7.87M	USD	2 Qtrs

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