10-K Filing

MESABI TRUST CIK: 65172 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001558370-17-002663`
Period End Date	20170131
Filing Date	20170414
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	msb-20170131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 83 Cash Flow Statement 61 Stockholders Equity 28

Balance Sheet 38 line items

Line Item	Tag	Value	Unit	Period
Certificate of beneficial interest of Land Trust, units	`SharesOutstanding`	13.12M	shares	Point-in-time
Certificate of beneficial interest of Land Trust, units	`SharesOutstanding`	13.12M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.70M	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, 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`	$456.06K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$978.15K	USD	Point-in-time
Accrued income receivable	`AccruedIncomeReceivable`	$45.05K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.93K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$53.61K	USD	Point-in-time
Current assets	`AssetsCurrent`	$9.36M	USD	Point-in-time
Current assets	`AssetsCurrent`	$14.25M	USD	Point-in-time
U.S. Government securities, noncurrent, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesNoncurrent`	$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 fixed property	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total fixed property	`FixedPropertyIncludingIntangible`	$3.00	USD	Point-in-time
Total assets	`Assets`	$14.25M	USD	Point-in-time
Total assets	`Assets`	$9.82M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$656.00K	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$1.84M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$171.79K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$108.19K	USD	Point-in-time
Deferred royalty revenue	`DeferredRevenue`	$2.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$827.79K	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$10.21M	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`	$14.25M	USD	Point-in-time

Income Statement 83 line items

Line Item	Tag	Value	Unit	Period
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$25.40M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$9.30M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$10.31M	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$417.31K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$672.74K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$416.79K	USD	Annual
Interest	`InvestmentIncomeInterest`	$9.07K	USD	Annual
Interest	`InvestmentIncomeInterest`	$5.13K	USD	Annual
Interest	`InvestmentIncomeInterest`	$7.09K	USD	Annual
Total revenues	`Revenues`	$2.62M	USD	1 Quarter
Total revenues	`Revenues`	$10.74M	USD	Annual
Total revenues	`Revenues`	$1.32M	USD	1 Quarter
Total revenues	`Revenues`	$26.08M	USD	Annual
Total revenues	`Revenues`	$3.44M	USD	1 Quarter
Total revenues	`Revenues`	$4.68M	USD	1 Quarter
Total revenues	`Revenues`	$9.72M	USD	Annual
Total revenues	`Revenues`	$3.05M	USD	1 Quarter
Total revenues	`Revenues`	$2.61M	USD	1 Quarter
Total revenues	`Revenues`	$1.68K	USD	1 Quarter
Total revenues	`Revenues`	$2.74M	USD	1 Quarter
Compensation of Trustees	`CompensationOfTrustees`	$188.79K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$223.39K	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`	$399.74K	USD	Annual
Legal	`LegalFees`	$494.06K	USD	Annual
Legal	`LegalFees`	$452.25K	USD	Annual
Accounting	`AccountingExpense`	$125.38K	USD	Annual
Accounting	`AccountingExpense`	$146.56K	USD	Annual
Accounting	`AccountingExpense`	$151.95K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$27.99K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$28.54K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$28.38K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$118.49K	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`	$42.26K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$53.09K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$8.31K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$5.54K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$9.60K	USD	Annual
Other Trust expenses	`OtherExpenses`	$68.86K	USD	Annual
Other Trust expenses	`OtherExpenses`	$115.34K	USD	Annual
Other Trust expenses	`OtherExpenses`	$248.24K	USD	Annual
Total Expenses	`GeneralAndAdministrativeExpense`	$1.12M	USD	Annual
Total Expenses	`GeneralAndAdministrativeExpense`	$234.49K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$267.61K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$189.39K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$431.93K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$219.50K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$1.31M	USD	Annual
Total Expenses	`GeneralAndAdministrativeExpense`	$251.72K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$1.16M	USD	Annual
Total Expenses	`GeneralAndAdministrativeExpense`	$313.71K	USD	1 Quarter
Total Expenses	`GeneralAndAdministrativeExpense`	$377.74K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.56M	USD	Annual
Net income	`NetIncomeLoss`	$4.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.77M	USD	Annual
Net income	`NetIncomeLoss`	$2.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$940.26K	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.61M	USD	Annual
Net income	`NetIncomeLoss`	$-430.25K	USD	1 Quarter
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 (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
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`	$0.07	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.65	USD	Annual
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.73	USD	Annual
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.89	USD	Annual
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$13.70M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$25.58M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$9.29M	USD	Annual
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$5.54K	USD	Annual
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$6.94K	USD	Annual
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$8.88K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.12M	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.31M	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.08M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$24.27M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.22M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$12.58M	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`	$5.74M	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$255.76K	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$5.94M	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`	$5.74M	USD	Annual
Distributions to unitholders	`PaymentsOfDividends`	$8.92M	USD	Annual
Distributions to unitholders	`PaymentsOfDividends`	$23.22M	USD	Annual
Distributions to unitholders	`PaymentsOfDividends`	$7.22M	USD	Annual
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$11.11M	USD	Annual
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-6.13M	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`	$13.70M	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 period	`CashAndCashEquivalentsAtCarryingValue`	$7.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.59M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72M	USD	Point-in-time
Net income	`NetIncomeLoss`	$3.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.56M	USD	Annual
Net income	`NetIncomeLoss`	$4.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.77M	USD	Annual
Net income	`NetIncomeLoss`	$2.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$940.26K	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.61M	USD	Annual
Net income	`NetIncomeLoss`	$-430.25K	USD	1 Quarter
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedRoyaltiesReceivable`	$-933.10K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedRoyaltiesReceivable`	$419.76K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedRoyaltiesReceivable`	$495.13K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-27.00	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$7.00	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-1.32K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.61K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-63.60K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$82.11K	USD	Annual
Increase in deferred royalty revenue	`IncreaseDecreaseInDeferredRevenue`	$2.10M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$24.27M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.22M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$12.58M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$8.40M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$1.84M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$656.00K	USD	Annual

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
First Quarterly Distribution Paid Per Unit	`FirstQuarterlyDistributionPaidPerUnit`	$0.20	USD	Annual
First Quarterly Distribution Paid Per Unit	`FirstQuarterlyDistributionPaidPerUnit`	-	USD	Annual
First Quarterly Distribution Paid Per Unit	`FirstQuarterlyDistributionPaidPerUnit`	-	USD	Annual
Second Quarterly Distribution Paid Per Unit	`SecondQuarterlyDistributionPaidPerUnit`	$0.20	USD	Annual
Second Quarterly Distribution Paid Per Unit	`SecondQuarterlyDistributionPaidPerUnit`	$0.04	USD	Annual
Second Quarterly Distribution Paid Per Unit	`SecondQuarterlyDistributionPaidPerUnit`	$0.32	USD	Annual
Third Quarterly Distribution Paid Per Unit	`ThirdQuarterlyDistributionPaidPerUnit`	$0.88	USD	Annual
Third Quarterly Distribution Paid Per Unit	`ThirdQuarterlyDistributionPaidPerUnit`	$0.10	USD	Annual
Third Quarterly Distribution Paid Per Unit	`ThirdQuarterlyDistributionPaidPerUnit`	-	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$0.64	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$0.14	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$0.05	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$0.14	USD	Point-in-time
Units, Beginning Balance	`SharesOutstanding`	13.12M	shares	Point-in-time
Units, Beginning Balance	`SharesOutstanding`	13.12M	shares	Point-in-time
Net income	`NetIncomeLoss`	$3.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.56M	USD	Annual
Net income	`NetIncomeLoss`	$4.41M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.77M	USD	Annual
Net income	`NetIncomeLoss`	$2.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$940.26K	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.61M	USD	Annual
Net income	`NetIncomeLoss`	$-430.25K	USD	1 Quarter
Units, Ending Balance	`SharesOutstanding`	13.12M	shares	Point-in-time
Units, Ending Balance	`SharesOutstanding`	13.12M	shares	Point-in-time

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