10-Q Filing

MESABI TRUST CIK: 65172 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-010471`
Period End Date	20161031
Filing Date	20161208
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	msb-20161031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 32 Cash Flow Statement 38

Balance Sheet 37 line items

Line Item	Tag	Value	Unit	Period
Certificate of beneficial interest of Land Trust, units	`SharesOutstanding`	13.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	USD	Point-in-time
U.S. Government securities, current, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesCurrent`	$5.74M	USD	Point-in-time
U.S. Government securities, current, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesCurrent`	$132.94K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$978.15K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$3.06M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.93K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$91.77K	USD	Point-in-time
Current assets	`AssetsCurrent`	$8.62M	USD	Point-in-time
Current assets	`AssetsCurrent`	$9.36M	USD	Point-in-time
U.S. Government securities, noncurrent, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesNoncurrent`	$456.06K	USD	Point-in-time
U.S. Government securities, noncurrent, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesNoncurrent`	$373.43K	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 fixed property	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total fixed property	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total assets	`Assets`	$9.82M	USD	Point-in-time
Total assets	`Assets`	$8.99M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$656.00K	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$1.31M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$171.79K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$49.29K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.36M	USD	Point-in-time
Total liabilities	`Liabilities`	$827.79K	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$8.99M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$7.63M	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`	$8.99M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RoyaltyRevenue`	$6.67M	USD	3 Qtrs
Royalty income	`RoyaltyRevenue`	$3.44M	USD	1 Quarter
Royalty income	`RoyaltyRevenue`	$6.05M	USD	3 Qtrs
Royalty income	`RoyaltyRevenue`	$2.62M	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$2.47K	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$1.12K	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$6.99K	USD	3 Qtrs
Interest	`InvestmentIncomeInterest`	$3.81K	USD	3 Qtrs
Total revenues	`Revenues`	$6.05M	USD	3 Qtrs
Total revenues	`Revenues`	$6.67M	USD	3 Qtrs
Total revenues	`Revenues`	$3.44M	USD	1 Quarter
Total revenues	`Revenues`	$2.62M	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$219.50K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$234.49K	USD	1 Quarter
Expenses	`GeneralAndAdministrativeExpense`	$848.96K	USD	3 Qtrs
Expenses	`GeneralAndAdministrativeExpense`	$855.81K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.20M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.83M	USD	3 Qtrs
Number of units outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	3 Qtrs
Number of units outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
Number of units outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
Number of units outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	3 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.40	USD	3 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.44	USD	3 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`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`	$0.10	USD	Point-in-time
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.10	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.50	USD	3 Qtrs

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$3.91M	USD	3 Qtrs
Royalties received	`ProceedsFromRoyaltiesReceived`	$6.87M	USD	3 Qtrs
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$3.82K	USD	3 Qtrs
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$4.95K	USD	3 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$953.93K	USD	3 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$888.88K	USD	3 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.96M	USD	3 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.99M	USD	3 Qtrs
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$82.32K	USD	3 Qtrs
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$5.69M	USD	3 Qtrs
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$82.63K	USD	3 Qtrs
Net cash from (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$5.69M	USD	3 Qtrs
Net cash from (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-308.00	USD	3 Qtrs
Distributions to unitholders	`PaymentsOfDividends`	$8.92M	USD	3 Qtrs
Distributions to unitholders	`PaymentsOfDividends`	$5.90M	USD	3 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$2.75M	USD	3 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-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`	$5.33M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	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`	$5.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	USD	Point-in-time
Net income	`NetIncomeLoss`	$3.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.20M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.83M	USD	3 Qtrs
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedRoyaltiesReceivable`	$-202.82K	USD	3 Qtrs
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedRoyaltiesReceivable`	$2.08M	USD	3 Qtrs
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$36.84K	USD	3 Qtrs
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$37.76K	USD	3 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.17K	USD	3 Qtrs
Decrease in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-122.50K	USD	3 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.96M	USD	3 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.99M	USD	3 Qtrs
Distributions declared and payable	`DistributionsDeclared`	$1.31M	USD	3 Qtrs

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