10-K Filing

MESABI TRUST CIK: 65172 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001104659-16-111488`
Period End Date	20160131
Filing Date	20160414
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	msb-20160131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 75 Cash Flow Statement 61 Stockholders Equity 26

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`	$7.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	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`	$5.74M	USD	Point-in-time
ACCRUED INCOME RECEIVABLE	`AccruedIncomeReceivable`	$978.15K	USD	Point-in-time
ACCRUED INCOME RECEIVABLE	`AccruedIncomeReceivable`	$558.38K	USD	Point-in-time
PREPAID EXPENSE	`PrepaidExpenseCurrent`	$54.96K	USD	Point-in-time
PREPAID EXPENSE	`PrepaidExpenseCurrent`	$54.93K	USD	Point-in-time
CURRENT ASSETS	`AssetsCurrent`	$9.84M	USD	Point-in-time
CURRENT ASSETS	`AssetsCurrent`	$9.36M	USD	Point-in-time
U.S. GOVERNMENT SECURITIES, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$255.76K	USD	Point-in-time
U.S. GOVERNMENT SECURITIES, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$456.06K	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 Leases	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Leases	`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`	$10.10M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.82M	USD	Point-in-time
DISTRIBUTION PAYABLE	`InterestAndDividendsPayableCurrent`	$8.40M	USD	Point-in-time
DISTRIBUTION PAYABLE	`InterestAndDividendsPayableCurrent`	$656.00K	USD	Point-in-time
ACCRUED EXPENSES	`AccruedLiabilitiesCurrentAndNoncurrent`	$171.79K	USD	Point-in-time
ACCRUED EXPENSES	`AccruedLiabilitiesCurrentAndNoncurrent`	$89.69K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$8.49M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$827.79K	USD	Point-in-time
UNALLOCATED RESERVE	`UnallocatedReserve`	$1.61M	USD	Point-in-time
UNALLOCATED RESERVE	`UnallocatedReserve`	$8.99M	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`	$9.82M	USD	Point-in-time
TOTAL LIABILITIES, UNALLOCATED RESERVE AND TRUST CORPUS	`LiabilitiesAndStockholdersEquity`	$10.10M	USD	Point-in-time

Income Statement 75 line items

Line Item	Tag	Value	Unit	Period
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$9.30M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$21.50M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$25.40M	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$672.74K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$417.31K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$545.03K	USD	Annual
Interest	`InvestmentIncomeInterest`	$2.56K	USD	Annual
Interest	`InvestmentIncomeInterest`	$7.09K	USD	Annual
Interest	`InvestmentIncomeInterest`	$9.07K	USD	Annual
Total revenues	`Revenues`	$11.78M	USD	1 Quarter
Total revenues	`Revenues`	$2.62M	USD	1 Quarter
Total revenues	`Revenues`	$26.08M	USD	Annual
Total revenues	`Revenues`	$2.74M	USD	1 Quarter
Total revenues	`Revenues`	$1.32M	USD	1 Quarter
Total revenues	`Revenues`	$5.93M	USD	1 Quarter
Total revenues	`Revenues`	$9.72M	USD	Annual
Total revenues	`Revenues`	$22.05M	USD	Annual
Total revenues	`Revenues`	$7.86M	USD	1 Quarter
Total revenues	`Revenues`	$503.44K	USD	1 Quarter
Total revenues	`Revenues`	$3.05M	USD	1 Quarter
Compensation of Trustees	`CompensationOfTrustees`	$223.39K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$213.37K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$188.28K	USD	Annual
Corporate Trustee's administrative fees	`TrusteeFees`	$62.50K	USD	Annual
Corporate Trustee's administrative fees	`TrusteeFees`	$62.50K	USD	Annual
Corporate Trustee's administrative fees	`TrusteeFees`	$62.50K	USD	Annual
Legal	`LegalFees`	$494.06K	USD	Annual
Legal	`LegalFees`	$452.25K	USD	Annual
Legal	`LegalFees`	$306.56K	USD	Annual
Accounting	`AccountingExpense`	$106.70K	USD	Annual
Accounting	`AccountingExpense`	$125.38K	USD	Annual
Accounting	`AccountingExpense`	$146.56K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$28.38K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$53.68K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$28.54K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$121.72K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$120.11K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$120.08K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$45.64K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$42.12K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$42.26K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$8.31K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$9.60K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$8.08K	USD	Annual
Other Trust expenses	`OtherExpenses`	$74.13K	USD	Annual
Other Trust expenses	`OtherExpenses`	$68.86K	USD	Annual
Other Trust expenses	`OtherExpenses`	$248.24K	USD	Annual
Total expenses	`OperatingExpenses`	$1.31M	USD	Annual
Total expenses	`OperatingExpenses`	$1.16M	USD	Annual
Total expenses	`OperatingExpenses`	$988.86K	USD	Annual
NET INCOME	`NetIncomeLoss`	$21.06M	USD	Annual
NET INCOME	`NetIncomeLoss`	$7.42M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$11.54M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.48M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.40M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.67M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$137.22K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$8.56M	USD	Annual
NET INCOME	`NetIncomeLoss`	$940.26K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.73M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$24.77M	USD	Annual
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	Annual
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	Annual
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	Annual
NET INCOME PER UNIT	`EarningsPerShareBasic`	$1.89	USD	Annual
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$1.60	USD	Annual
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.65	USD	Annual
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.88	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.56	USD	1 Quarter
NET INCOME PER UNIT	`EarningsPerShareBasic`	$0.01	USD	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$9.29M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$22.20M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$25.58M	USD	Annual
Interest received	`InterestReceivedGovernmentSecurities`	$2.08K	USD	Annual
Interest received	`InterestReceivedGovernmentSecurities`	$6.94K	USD	Annual
Interest received	`InterestReceivedGovernmentSecurities`	$8.88K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$930.88K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.31M	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.08M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.22M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$24.27M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$21.27M	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$205.06K	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$510.57K	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$438.88K	USD	Annual
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$5.94M	USD	Annual
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$255.76K	USD	Annual
Purchases of U.S. Government Securities	`PaymentsToAcquireHeldToMaturitySecurities`	$510.63K	USD	Annual
NET CASH (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-50.70K	USD	Annual
NET CASH (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.43M	USD	Annual
NET CASH (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-71.76K	USD	Annual
Distributions to unitholders	`PaymentsOfCapitalDistribution`	$23.22M	USD	Annual
Distributions to unitholders	`PaymentsOfCapitalDistribution`	$20.20M	USD	Annual
Distributions to unitholders	`PaymentsOfCapitalDistribution`	$8.92M	USD	Annual
NET CHANGE IN CASH AND CASH EQUIVALENTS	`NetCashProvidedByUsedInContinuingOperations`	$-6.13M	USD	Annual
NET CHANGE IN CASH AND CASH EQUIVALENTS	`NetCashProvidedByUsedInContinuingOperations`	$992.50K	USD	Annual
NET CHANGE IN CASH AND CASH EQUIVALENTS	`NetCashProvidedByUsedInContinuingOperations`	$997.98K	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$6.73M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Net income	`NetIncomeLoss`	$21.06M	USD	Annual
Net income	`NetIncomeLoss`	$7.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$137.22K	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.56M	USD	Annual
Net income	`NetIncomeLoss`	$940.26K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.77M	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$419.76K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$495.13K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$-154.80K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-1.62K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-27.00	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$7.00	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.61K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$56.36K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$82.11K	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.22M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$24.27M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$21.27M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$7.48M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$656.00K	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$8.40M	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	-	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.46	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	-	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.88	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.32	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.08	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.51	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.04	USD	1 Quarter
Distributions declared per unit (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.64	USD	1 Quarter
Distributions declared per unit (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.05	USD	1 Quarter
Distributions declared per unit (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.57	USD	1 Quarter
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time
Net income	`NetIncomeLoss`	$21.06M	USD	Annual
Net income	`NetIncomeLoss`	$7.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$137.22K	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.56M	USD	Annual
Net income	`NetIncomeLoss`	$940.26K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.77M	USD	Annual
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time

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