10-Q Filing

MAYS J W INC CIK: 54187 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001206774-17-003345`
Period End Date	20171031
Filing Date	20171207
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	mays-20171031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 44 Cash Flow Statement 56 Comprehensive Income 8

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Property and Equipment - Net (Notes 5 and 6)	`PropertyPlantAndEquipmentNet`	$49.49M	USD	Point-in-time
Property and Equipment - Net (Notes 5 and 6)	`PropertyPlantAndEquipmentNet`	$50.08M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$6.02M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$5.71M	USD	Point-in-time
Cash and cash equivalents (Note 4)	`CashAndCashEquivalentsAtCarryingValue`	$5.23M	USD	Point-in-time
Receivables (Note 4)	`ReceivablesNetCurrent`	$164.72K	USD	Point-in-time
Receivables (Note 4)	`ReceivablesNetCurrent`	$182.13K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$6.89K	USD	Point-in-time
Income taxes refundable	`IncomeTaxesReceivable`	$31.08K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$15.90K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$15.13K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.01M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.68M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.18M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.24M	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`	$3.47M	USD	Point-in-time
Deferred charges	`DeferredCostsLeasingGross`	$3.47M	USD	Point-in-time
Less: accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$1.38M	USD	Point-in-time
Less: accumulated amortization	`DeferredCostsLeasingAccumulatedAmortization`	$1.46M	USD	Point-in-time
Net	`DeferredCosts`	$2.01M	USD	Point-in-time
Net	`DeferredCosts`	$2.08M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.28M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.28M	USD	Point-in-time
Unbilled receivables (Notes 4 and 7)	`UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear`	$1.87M	USD	Point-in-time
Unbilled receivables (Notes 4 and 7)	`UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear`	$1.94M	USD	Point-in-time
Marketable securities (Notes 3 and 4)	`MarketableSecuritiesNoncurrent`	$2.82M	USD	Point-in-time
Marketable securities (Notes 3 and 4)	`MarketableSecuritiesNoncurrent`	$2.94M	USD	Point-in-time
Total other assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$8.12M	USD	Point-in-time
Total other assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$8.10M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$65.12M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$64.85M	USD	Point-in-time
Mortgage payable (Note 5)	`LongTermNotesAndLoans`	$5.37M	USD	Point-in-time
Mortgage payable (Note 5)	`LongTermNotesAndLoans`	$5.41M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.06M	USD	Point-in-time
Security deposits payable	`SecurityDepositsPayableNonCurrent`	$1.02M	USD	Point-in-time
Deferred Income Taxes (Note 1)	`DeferredTaxLiabilitiesNoncurrent`	$5.64M	USD	Point-in-time
Deferred Income Taxes (Note 1)	`DeferredTaxLiabilitiesNoncurrent`	$5.88M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$12.31M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$12.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.63K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$79.10K	USD	Point-in-time
Payroll and other accrued liabilities	`AccruedLiabilitiesCurrent`	$2.52M	USD	Point-in-time
Payroll and other accrued liabilities	`AccruedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Other taxes payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$8.13K	USD	Point-in-time
Other taxes payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$5.10K	USD	Point-in-time
Current portion of mortgage payable (Note 5)	`LongTermDebtCurrent`	$162.57K	USD	Point-in-time
Current portion of mortgage payable (Note 5)	`LongTermDebtCurrent`	$164.04K	USD	Point-in-time
Current portion of security deposits Payable	`SecurityDepositsPayableCurrent`	$15.90K	USD	Point-in-time
Current portion of security deposits Payable	`SecurityDepositsPayableCurrent`	$15.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.34M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$14.85M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$14.65M	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 $225,000 at October 31, 2017 and $190,000 at July 31, 2017	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$437.08K	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $225,000 at October 31, 2017 and $190,000 at July 31, 2017	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$220.55K	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $225,000 at October 31, 2017 and $190,000 at July 31, 2017	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$264.54K	USD	Point-in-time
Unrealized gain on available-for-sale securities - net of deferred taxes of $225,000 at October 31, 2017 and $190,000 at July 31, 2017	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$368.48K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$45.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$45.79M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$51.29M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$51.75M	USD	Point-in-time
Less common stock held in treasury, at cost - 162,517 shares at October 31, 2017 and at July 31, 2017 (Note 10)	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Less common stock held in treasury, at cost - 162,517 shares at October 31, 2017 and at July 31, 2017 (Note 10)	`TreasuryStockValue`	$1.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$50.46M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$50.00M	USD	Point-in-time
Contingencies (Notes 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (Notes 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$64.85M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$65.12M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Rental income (Notes 4 and 7)	`OperatingLeasesIncomeStatementLeaseRevenue`	$4.48M	USD	1 Quarter
Rental income (Notes 4 and 7)	`OperatingLeasesIncomeStatementLeaseRevenue`	$4.79M	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 12)	`VacateLeaseRevenue`	$291.67K	USD	1 Quarter
Revenue to temporarily vacate lease (Note 12)	`VacateLeaseRevenue`	-	USD	1 Quarter
Total revenues	`RealEstateRevenueNet`	$4.78M	USD	1 Quarter
Total revenues	`RealEstateRevenueNet`	$4.79M	USD	1 Quarter
Real estate operating expenses	`CostOfRealEstateRevenue`	$2.53M	USD	1 Quarter
Real estate operating expenses	`CostOfRealEstateRevenue`	$2.54M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.13M	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Depreciation (Note 6)	`DepreciationAndAmortization`	$432.14K	USD	1 Quarter
Depreciation (Note 6)	`DepreciationAndAmortization`	$412.63K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.10M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.03M	USD	1 Quarter
Income from operations before investment income, interest expense and income taxes	`OperatingIncomeLoss`	$751.74K	USD	1 Quarter
Income from operations before investment income, interest expense and income taxes	`OperatingIncomeLoss`	$685.04K	USD	1 Quarter
Investment income (Note 3)	`InvestmentIncomeNet`	$3.16K	USD	1 Quarter
Investment income (Note 3)	`InvestmentIncomeNet`	$13.33K	USD	1 Quarter
Interest expense (Notes 5, 9 and 13)	`InterestExpense`	$61.88K	USD	1 Quarter
Interest expense (Notes 5, 9 and 13)	`InterestExpense`	$92.98K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-58.72K	USD	1 Quarter
Total investment income and interest expense	`NonoperatingIncomeExpense`	$-79.65K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$693.02K	USD	1 Quarter
Income from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$605.39K	USD	1 Quarter
Income taxes provided	`IncomeTaxExpenseBenefit`	$210.00K	USD	1 Quarter
Income taxes provided	`IncomeTaxExpenseBenefit`	$231.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$395.39K	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.02K	USD	1 Quarter
Retained earnings, beginning of period	`RetainedEarningsAccumulatedDeficit`	$45.40M	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, beginning of period	`RetainedEarningsAccumulatedDeficit`	$45.79M	USD	Point-in-time
Retained earnings, end of period	`RetainedEarningsAccumulatedDeficit`	$45.40M	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
Retained earnings, end of period	`RetainedEarningsAccumulatedDeficit`	$45.79M	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`	$395.39K	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.02K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$412.63K	USD	1 Quarter
Depreciation	`OtherDepreciationAndAmortization`	$432.14K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$64.60K	USD	1 Quarter
Amortization of deferred charges	`AmortizationOfDeferredCharges`	$74.20K	USD	1 Quarter
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$5.72K	USD	1 Quarter
Deferred finance costs included in interest expense	`AmortizationOfFinancingCosts`	$5.72K	USD	1 Quarter
Realized loss on sale of marketable securities	`GainLossOnInvestments`	$-6.00	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`	$-72.43K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-231.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-205.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-291.67K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$17.41K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$288.09K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-3.11K	USD	1 Quarter
Income taxes refundable	`IncreaseDecreaseInIncomeTaxesReceivable`	$24.19K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-668.61K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-627.14K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-26.47K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.59K	USD	1 Quarter
Payroll and other accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$24.09K	USD	1 Quarter
Payroll and other accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-412.98K	USD	1 Quarter
Other taxes payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-3.04K	USD	1 Quarter
Other taxes payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-2.76K	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.37M	USD	1 Quarter
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.35M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$516.32K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.03M	USD	1 Quarter
Restricted cash	`PaymentsToSecurityDeposits`	$2.89K	USD	1 Quarter
Restricted cash	`PaymentsToSecurityDeposits`	$2.15K	USD	1 Quarter
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$115.17K	USD	1 Quarter
Receipts from sales	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$62.00	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$130.20K	USD	1 Quarter
Payments for purchases	`PaymentsToAcquireMarketableSecurities`	$16.04K	USD	1 Quarter
Cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-533.49K	USD	1 Quarter
Cash (used) by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.04M	USD	1 Quarter
Increase - security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$4.15K	USD	1 Quarter
Increase - security deposits payable	`IncreaseDecreaseInSecurityDeposits`	$40.85K	USD	1 Quarter
Mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$39.69K	USD	1 Quarter
Mortgage and other debt payments	`RepaymentsOfLongTermDebt`	$38.26K	USD	1 Quarter
Cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-34.11K	USD	1 Quarter
Cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.17K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$326.49K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$787.24K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.23M	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`	$5.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.23M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$395.39K	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.02K	USD	1 Quarter
Unrealized holding gains arising during the period, tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent`	$-23.00K	USD	1 Quarter
Unrealized holding gains arising during the period, tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent`	$35.00K	USD	1 Quarter
Unrealized gains (losses) arising during the period, net of taxes (benefit) of $35,000 and ($23,000) for the three months ended October 31, 2017 and 2016, respectively.	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$68.61K	USD	1 Quarter
Unrealized gains (losses) arising during the period, net of taxes (benefit) of $35,000 and ($23,000) for the three months ended October 31, 2017 and 2016, respectively.	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-43.99K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$464.00K	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.