10-Q Filing

MESABI TRUST CIK: 65172 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-007410`
Period End Date	20180731
Filing Date	20180907
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	msb-20180731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 33 Cash Flow Statement 41

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	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.70M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$196.83K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$314.83K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.80M	USD	Point-in-time
U.S. Government securities, current, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesCurrent`	$17.90M	USD	Point-in-time
U.S. Government securities, current, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesCurrent`	$23.80M	USD	Point-in-time
Accrued income receivable	`AccountsReceivableNetCurrent`	$8.78M	USD	Point-in-time
Accrued income receivable	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$3.01M	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$99.26K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$152.26K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.64K	USD	Point-in-time
Current assets	`AssetsCurrent`	$26.22M	USD	Point-in-time
Current assets	`AssetsCurrent`	$30.03M	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`	$30.03M	USD	Point-in-time
Total assets	`Assets`	$26.22M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$15.48M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$2.89M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$144.51K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$133.99K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.62M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$27.00M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$10.61M	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`	$30.03M	USD	Point-in-time
Total liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$26.22M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RevenueFromContractWithCustomerExcludingAssessedTax`	$25.77M	USD	2 Qtrs
Royalty income	`RevenueFromContractWithCustomerExcludingAssessedTax`	$19.13M	USD	1 Quarter
Royalty income	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.99M	USD	2 Qtrs
Royalty income	`RevenueFromContractWithCustomerExcludingAssessedTax`	$14.23M	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$26.88K	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$13.81K	USD	2 Qtrs
Interest	`InvestmentIncomeInterest`	$64.26K	USD	2 Qtrs
Interest	`InvestmentIncomeInterest`	$7.27K	USD	1 Quarter
Total revenues	`Revenues`	$19.15M	USD	1 Quarter
Total revenues	`Revenues`	$19.00M	USD	2 Qtrs
Total revenues	`Revenues`	$14.24M	USD	1 Quarter
Total revenues	`Revenues`	$25.84M	USD	2 Qtrs
Expenses	`CostOfGoodsAndServicesSold`	$535.54K	USD	2 Qtrs
Expenses	`CostOfGoodsAndServicesSold`	$648.70K	USD	2 Qtrs
Expenses	`CostOfGoodsAndServicesSold`	$280.50K	USD	1 Quarter
Expenses	`CostOfGoodsAndServicesSold`	$240.49K	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.47M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$14.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.19M	USD	2 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.07	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.44	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.41	USD	2 Qtrs
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.92	USD	2 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.71	USD	2 Qtrs
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.16	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.22	USD	1 Quarter
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.22	USD	Point-in-time
Distributions declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.67	USD	2 Qtrs

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$16.06M	USD	2 Qtrs
Royalties received	`ProceedsFromRoyaltiesReceived`	$8.72M	USD	2 Qtrs
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$51.52K	USD	2 Qtrs
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$12.57K	USD	2 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$735.80K	USD	2 Qtrs
Expenses paid	`PaymentsForOperatingActivities`	$670.62K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.07M	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.37M	USD	2 Qtrs
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$24.17M	USD	2 Qtrs
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$82.63K	USD	2 Qtrs
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$1.99M	USD	2 Qtrs
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$18.27M	USD	2 Qtrs
Net cash from (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.91M	USD	2 Qtrs
Net cash from (used for) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.90M	USD	2 Qtrs
Distributions to unitholders	`PaymentsOfDividends`	$9.05M	USD	2 Qtrs
Distributions to unitholders	`PaymentsOfDividends`	$21.39M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.90M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-118.01K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$196.83K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$314.83K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$196.83K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$314.83K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.80M	USD	Point-in-time
Net income	`ProfitLoss`	$25.19M	USD	2 Qtrs
Net income	`ProfitLoss`	$18.47M	USD	2 Qtrs
Increase in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$6.82M	USD	2 Qtrs
Increase in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$6.18M	USD	2 Qtrs
Increase in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$1.99M	USD	2 Qtrs
Increase in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$2.91M	USD	2 Qtrs
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$97.62K	USD	2 Qtrs
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$86.18K	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$10.52K	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-48.91K	USD	2 Qtrs
Decrease in contract liability	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.10M	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.07M	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.37M	USD	2 Qtrs
Distributions declared and payable	`DistributionsDeclared`	$2.89M	USD	2 Qtrs
Distributions declared and payable	`DistributionsDeclared`	$2.10M	USD	2 Qtrs

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