10-Q Filing

MAYS J W INC CIK: 54187 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001206774-16-007716`
Period End Date	20161031
Filing Date	20161208
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	mays-20160731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 44 Cash Flow Statement 56 Comprehensive Income 8

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Property and Equipment - Net (Notes 5 and 6)	`PropertyPlantAndEquipmentNet`	$49.06M	USD	Point-in-time
Property and Equipment - Net (Notes 5 and 6)	`PropertyPlantAndEquipmentNet`	$49.17M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$6.02M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$5.23M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$4.09M	USD	Point-in-time
Receivables (Note 4)	`ReceivablesNetCurrent`	$293.32K	USD	Point-in-time
Receivables (Note 4)	`ReceivablesNetCurrent`	$581.41K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$13.90K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$17.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.55M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$926.07K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.54M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Deferred charges	`DeferredCostsLeasingGross`	$3.35M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	162,517.00	shares	Point-in-time
Deferred charges	`DeferredCostsLeasingGross`	$3.35M	USD	Point-in-time
Less accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$1.40M	USD	Point-in-time
Less accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$1.47M	USD	Point-in-time
Net	`DeferredCosts`	$1.94M	USD	Point-in-time
Net	`DeferredCosts`	$1.88M	USD	Point-in-time
Security deposits	`DepositsAssetsNoncurrent`	$1.16M	USD	Point-in-time
Security deposits	`DepositsAssetsNoncurrent`	$1.16M	USD	Point-in-time
Unbilled receivables (Notes 4 and 8)	`UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear`	$2.22M	USD	Point-in-time
Unbilled receivables (Notes 4 and 8)	`UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear`	$2.13M	USD	Point-in-time
Marketable securities (Notes 3 and 4)	`MarketableSecuritiesNoncurrent`	$2.06M	USD	Point-in-time
Marketable securities (Notes 3 and 4)	`MarketableSecuritiesNoncurrent`	$2.00M	USD	Point-in-time
Total other assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$7.39M	USD	Point-in-time
Total other assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$7.17M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$63.55M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$63.88M	USD	Point-in-time
Mortgage payable (Note 5)	`LongTermNotesAndLoans`	$5.54M	USD	Point-in-time
Mortgage payable (Note 5)	`LongTermNotesAndLoans`	$5.57M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$902.12K	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$897.97K	USD	Point-in-time
Payroll and other accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$60.92K	USD	Point-in-time
Payroll and other accrued liabilities	`AccountsPayableAndAccruedLiabilitiesNoncurrent`	$90.92K	USD	Point-in-time
Deferred Income Taxes (Note 1)	`DeferredTaxLiabilitiesNoncurrent`	$4.83M	USD	Point-in-time
Deferred Income Taxes (Note 1)	`DeferredTaxLiabilitiesNoncurrent`	$4.62M	USD	Point-in-time
Total long-term debt	`LiabilitiesNoncurrent`	$11.18M	USD	Point-in-time
Total long-term debt	`LiabilitiesNoncurrent`	$11.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$84.93K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$80.34K	USD	Point-in-time
Payroll and other accrued liabilities	`AccruedLiabilitiesCurrent`	$2.21M	USD	Point-in-time
Payroll and other accrued liabilities	`AccruedLiabilitiesCurrent`	$2.15M	USD	Point-in-time
Deferred revenue (Note 13)	`DeferredRevenueCurrent`	$1.02M	USD	Point-in-time
Deferred revenue (Note 13)	`DeferredRevenueCurrent`	$729.17K	USD	Point-in-time
Other taxes payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$4.20K	USD	Point-in-time
Other taxes payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$6.96K	USD	Point-in-time
Current portion of note payable - related party (Note 7)	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.00M	USD	Point-in-time
Current portion of note payable - related party (Note 7)	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.00M	USD	Point-in-time
Current portion of long-term debt (Note 5)	`LongTermDebtCurrent`	$133.97K	USD	Point-in-time
Current portion of long-term debt (Note 5)	`LongTermDebtCurrent`	$135.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.40M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$15.49M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$15.57M	USD	Point-in-time
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued)	`CommonStockValue`	$2.18M	USD	Point-in-time
Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued)	`CommonStockValue`	$2.18M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$3.35M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$3.35M	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $113,000 at October 31, 2016 and $136,000 at July 31, 2016	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$176.63K	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $113,000 at October 31, 2016 and $136,000 at July 31, 2016	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$196.03K	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $113,000 at October 31, 2016 and $136,000 at July 31, 2016	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$264.54K	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $113,000 at October 31, 2016 and $136,000 at July 31, 2016	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$220.55K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$41.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.93M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$49.68M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$49.26M	USD	Point-in-time
Less common stock held in treasury, at cost - 162,517 shares at October 31, 2016 and at July 31, 2016 (Note 11)	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Less common stock held in treasury, at cost - 162,517 shares at October 31, 2016 and at July 31, 2016 (Note 11)	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$47.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$48.39M	USD	Point-in-time
Contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$63.55M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$63.88M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Rental income (Notes 4 and 8)	`OperatingLeasesIncomeStatementLeaseRevenue`	$4.48M	USD	1 Quarter
Rental income (Notes 4 and 8)	`OperatingLeasesIncomeStatementLeaseRevenue`	$4.28M	USD	1 Quarter
Recovery of real estate taxes	`RecoveryOfRealEstateTaxes`	-	USD	1 Quarter
Recovery of real estate taxes	`RecoveryOfRealEstateTaxes`	$10.95K	USD	1 Quarter
Revenue to temporarily vacate lease (Note 13)	`VacateLeaseRevenue`	$291.67K	USD	1 Quarter
Revenue to temporarily vacate lease (Note 13)	`VacateLeaseRevenue`	$291.67K	USD	1 Quarter
Total revenues	`RealEstateRevenueNet`	$4.57M	USD	1 Quarter
Total revenues	`RealEstateRevenueNet`	$4.78M	USD	1 Quarter
Real estate operating expenses	`CostOfRealEstateRevenue`	$2.41M	USD	1 Quarter
Real estate operating expenses	`CostOfRealEstateRevenue`	$2.53M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.06M	USD	1 Quarter
Depreciation and amortization (Note 6)	`DepreciationAndAmortization`	$406.75K	USD	1 Quarter
Depreciation and amortization (Note 6)	`DepreciationAndAmortization`	$412.63K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.87M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.03M	USD	1 Quarter
Income from operations before investment income, interest expense and income taxes	`OperatingIncomeLoss`	$697.73K	USD	1 Quarter
Income from operations before investment income, interest expense and income taxes	`OperatingIncomeLoss`	$751.74K	USD	1 Quarter
Investment income (Note 3)	`InvestmentIncomeNet`	$3.16K	USD	1 Quarter
Investment income (Note 3)	`InvestmentIncomeNet`	$7.22K	USD	1 Quarter
Interest expense (Notes 5, 7 and 10)	`InterestExpense`	$64.58K	USD	1 Quarter
Interest expense (Notes 5, 7 and 10)	`InterestExpense`	$61.88K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-57.35K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-58.72K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$693.02K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$640.38K	USD	1 Quarter
Income taxes provided	`IncomeTaxExpenseBenefit`	$239.00K	USD	1 Quarter
Income taxes provided	`IncomeTaxExpenseBenefit`	$231.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$401.38K	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.02K	USD	1 Quarter
Retained earnings, beginning of period	`RetainedEarningsAccumulatedDeficit`	$42.35M	USD	Point-in-time
Retained earnings, beginning of period	`RetainedEarningsAccumulatedDeficit`	$41.95M	USD	Point-in-time
Retained earnings, beginning of period	`RetainedEarningsAccumulatedDeficit`	$43.47M	USD	Point-in-time
Retained earnings, beginning of period	`RetainedEarningsAccumulatedDeficit`	$43.93M	USD	Point-in-time
Retained earnings, end of period	`RetainedEarningsAccumulatedDeficit`	$42.35M	USD	Point-in-time
Retained earnings, end of period	`RetainedEarningsAccumulatedDeficit`	$41.95M	USD	Point-in-time
Retained earnings, end of period	`RetainedEarningsAccumulatedDeficit`	$43.47M	USD	Point-in-time
Retained earnings, end of period	`RetainedEarningsAccumulatedDeficit`	$43.93M	USD	Point-in-time
Income per common share (Note 2)	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Income per common share (Note 2)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Dividends per share	`CommonStockDividendsPerShareCashPaid`	-	USD	1 Quarter
Average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$401.38K	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.02K	USD	1 Quarter
Depreciation and amortization	`OtherDepreciationAndAmortization`	$406.75K	USD	1 Quarter
Depreciation and amortization	`OtherDepreciationAndAmortization`	$412.63K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$80.88K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$64.60K	USD	1 Quarter
Amortization of deferred finance costs	`AmortizationOfFinancingCosts`	$5.70K	USD	1 Quarter
Amortization of deferred finance costs	`AmortizationOfFinancingCosts`	$5.72K	USD	1 Quarter
Realized loss on sale of marketable securities	`GainLossOnInvestments`	-	USD	1 Quarter
Realized loss on sale of marketable securities	`GainLossOnInvestments`	$-7.42K	USD	1 Quarter
Other assets - unbilled receivables	`IncreaseDecreaseInUnbilledReceivables`	$-95.03K	USD	1 Quarter
Other assets - unbilled receivables	`IncreaseDecreaseInUnbilledReceivables`	$-94.94K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-239.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-231.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-291.67K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-291.67K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$288.09K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-131.19K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.11K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$174.65K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-578.42K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-627.14K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.51K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.59K	USD	1 Quarter
Payroll and other accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-207.30K	USD	1 Quarter
Payroll and other accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$24.09K	USD	1 Quarter
Other taxes payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-2.71K	USD	1 Quarter
Other taxes payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-2.76K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.35M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.29M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$516.32K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$821.35K	USD	1 Quarter
Security deposits	`PaymentsToSecurityDeposits`	$2.15K	USD	1 Quarter
Security deposits	`PaymentsToSecurityDeposits`	$3.68K	USD	1 Quarter
Receipts from sales or maturities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Receipts from sales or maturities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$115.17K	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$130.20K	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$9.54K	USD	1 Quarter
Cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-533.49K	USD	1 Quarter
Cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-834.57K	USD	1 Quarter
Increase - security deposits	`IncreaseDecreaseInSecurityDeposits`	$1.58K	USD	1 Quarter
Increase - security deposits	`IncreaseDecreaseInSecurityDeposits`	$4.15K	USD	1 Quarter
Mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$38.26K	USD	1 Quarter
Mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$36.90K	USD	1 Quarter
Cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-34.11K	USD	1 Quarter
Cash (used) by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-35.32K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$787.24K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$421.54K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.23M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.23M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.09M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Unrealized holding gains arising during the period, tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent`	$-23.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$401.38K	USD	1 Quarter
Unrealized holding gains arising during the period, tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent`	$-11.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.02K	USD	1 Quarter
Unrealized (losses) arising during the period, net of taxes (benefit) of ($23,000) and ($11,000) for the three months ended October 31, 2016 and 2015, respectively,	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-43.99K	USD	1 Quarter
Unrealized (losses) arising during the period, net of taxes (benefit) of ($23,000) and ($11,000) for the three months ended October 31, 2016 and 2015, respectively,	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-19.40K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$381.97K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$418.04K	USD	1 Quarter

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