10-Q Filing

MESABI TRUST CIK: 65172 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-083642`
Period End Date	20151031
Filing Date	20151208
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	msb-20151031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 31 Cash Flow Statement 40

Balance Sheet 37 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`	$5.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$510.57K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$633.70K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$558.38K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$355.57K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$92.71K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.96K	USD	Point-in-time
Current assets	`AssetsCurrent`	$9.84M	USD	Point-in-time
Current assets	`AssetsCurrent`	$6.87M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$132.94K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$255.76K	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 other assets	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total other assets	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total assets	`Assets`	$7.00M	USD	Point-in-time
Total assets	`Assets`	$10.10M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$8.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$89.69K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$87.52K	USD	Point-in-time
Total liabilities	`Liabilities`	$87.52K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.49M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$6.91M	USD	Point-in-time
Unallocated Reserve (Note 4)	`UnallocatedReserve`	$1.61M	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`	$10.10M	USD	Point-in-time
Total liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$7.00M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RoyaltyRevenue`	$20.14M	USD	3 Qtrs
Royalty income	`RoyaltyRevenue`	$2.62M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$6.67M	USD	3 Qtrs
Royalty income	`RoyaltyRevenue`	$11.78M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.99K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$2.26K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.47K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.65K	USD	3 Qtrs
Total revenues	`Revenues`	$11.78M	USD	1 Quarter
Total revenues	`Revenues`	$20.15M	USD	3 Qtrs
Total revenues	`Revenues`	$6.67M	USD	3 Qtrs
Total revenues	`Revenues`	$2.62M	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$219.50K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$1.05M	USD	3 Qtrs
Expenses	`GeneralAndAdministrativeExpense`	$243.15K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$848.96K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$5.83M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$11.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.09M	USD	3 Qtrs
Number of units outstanding	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	3 Qtrs
Number of units outstanding	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	1 Quarter
Number of units outstanding	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	1 Quarter
Number of units outstanding	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	3 Qtrs
Net income per unit (Note 2)	`EarningsPerShareBasic`	$1.46	USD	3 Qtrs
Net income per unit (Note 2)	`EarningsPerShareBasic`	$0.44	USD	3 Qtrs
Net income per unit (Note 2)	`EarningsPerShareBasic`	$0.88	USD	1 Quarter
Net income per unit (Note 2)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.04	USD	3 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$1.20	USD	3 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.88	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$16.90M	USD	3 Qtrs
Royalties received	`ProceedsFromRoyaltiesReceived`	$6.87M	USD	3 Qtrs
Interest received	`InterestReceivedGovernmentSecurities`	$4.95K	USD	3 Qtrs
Interest received	`InterestReceivedGovernmentSecurities`	$4.62K	USD	3 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$888.88K	USD	3 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$1.10M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.99M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.80M	USD	3 Qtrs
Maturities of U.S. Government Securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$105.00K	USD	3 Qtrs
Maturities of U.S. Government Securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$82.32K	USD	3 Qtrs
Sale of U.S. Government Securities	`ProceedsFromSaleOfHeldToMaturitySecurities`	$100.06K	USD	3 Qtrs
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$205.45K	USD	3 Qtrs
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$82.63K	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-308.00	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-391.00	USD	3 Qtrs
Distributions to unitholders	`PaymentsOfDistributionsToUnitholders`	$11.68M	USD	3 Qtrs
Distributions to unitholders	`PaymentsOfDistributionsToUnitholders`	$8.92M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.13M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.93M	USD	3 Qtrs
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.85M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.85M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.83M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$11.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.09M	USD	3 Qtrs
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$3.25M	USD	3 Qtrs
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$-202.82K	USD	3 Qtrs
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$37.76K	USD	3 Qtrs
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$37.42K	USD	3 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.17K	USD	3 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-5.93K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.99M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.80M	USD	3 Qtrs
Distributions payable	`DistributionsDeclared`	$11.55M	USD	3 Qtrs

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