10-K Filing

MESABI TRUST CIK: 65172 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001558370-19-002959`
Period End Date	20190131
Filing Date	20190412
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	msb-20190131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 83 Cash Flow Statement 56 Stockholders Equity 27

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`	$881.81K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.59M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$314.83K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.70M	USD	Point-in-time
U.S. Government securities, current, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesCurrent`	$23.80M	USD	Point-in-time
U.S. Government securities, current, at amortized cost (which approximates market)	`HeldToMaturitySecuritiesCurrent`	$32.12M	USD	Point-in-time
Accrued income receivable	`AccountsReceivableNetCurrent`	$2.34M	USD	Point-in-time
Accrued income receivable	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$56.36K	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$99.26K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.47K	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`	$35.45M	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`	$26.22M	USD	Point-in-time
Total assets	`Assets`	$35.45M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$15.48M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$18.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$411.51K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$133.99K	USD	Point-in-time
Total liabilities	`Liabilities`	$18.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.62M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$10.61M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$16.81M	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`	$35.45M	USD	Point-in-time
Total liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$26.22M	USD	Point-in-time

Income Statement 83 line items

Line Item	Tag	Value	Unit	Period
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$10.47M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$33.88M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$46.43M	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$603.29K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$519.33K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$416.79K	USD	Annual
Interest	`InvestmentIncomeInterest`	$259.97K	USD	Annual
Interest	`InvestmentIncomeInterest`	$5.13K	USD	Annual
Interest	`InvestmentIncomeInterest`	$92.53K	USD	Annual
Total revenues	`Revenues`	$34.50M	USD	Annual
Total revenues	`Revenues`	$4.77M	USD	1 Quarter
Total revenues	`Revenues`	$47.29M	USD	Annual
Total revenues	`Revenues`	$7.48M	USD	1 Quarter
Total revenues	`Revenues`	$10.89M	USD	Annual
Total revenues	`Revenues`	$14.24M	USD	1 Quarter
Total revenues	`Revenues`	$13.97M	USD	1 Quarter
Total revenues	`Revenues`	$4.57M	USD	1 Quarter
Total revenues	`Revenues`	$19.15M	USD	1 Quarter
Total revenues	`Revenues`	$6.68M	USD	1 Quarter
Total revenues	`Revenues`	$10.92M	USD	1 Quarter
Compensation of Trustees	`CompensationOfTrustees`	$207.52K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$188.79K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$264.28K	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`	$636.22K	USD	Annual
Legal	`LegalFees`	$399.74K	USD	Annual
Legal	`LegalFees`	$366.20K	USD	Annual
Accounting and auditing	`AccountingExpense`	$142.21K	USD	Annual
Accounting and auditing	`AccountingExpense`	$151.95K	USD	Annual
Accounting and auditing	`AccountingExpense`	$140.94K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$56.10K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$33.47K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$27.99K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$118.49K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$119.22K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$118.39K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$65.25K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$59.97K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$53.09K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$7.37K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$7.24K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$5.54K	USD	Annual
Other Trust expenses	`OtherExpenses`	$405.59K	USD	Annual
Other Trust expenses	`OtherExpenses`	$51.73K	USD	Annual
Other Trust expenses	`OtherExpenses`	$115.34K	USD	Annual
Total Expenses	`CostOfGoodsAndServicesSold`	$295.05K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$368.20K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$309.12K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$388.78K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$280.50K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$697.24K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$227.33K	USD	1 Quarter
Total Expenses	`CostOfGoodsAndServicesSold`	$1.12M	USD	Annual
Total Expenses	`CostOfGoodsAndServicesSold`	$1.73M	USD	Annual
Total Expenses	`CostOfGoodsAndServicesSold`	$1.07M	USD	Annual
Total Expenses	`CostOfGoodsAndServicesSold`	$240.49K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.56M	USD	Annual
Net income	`NetIncomeLoss`	$13.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.42M	USD	Annual
Net income	`NetIncomeLoss`	$10.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.76M	USD	Annual
Net income	`NetIncomeLoss`	$14.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.47M	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`	$0.48	USD	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`	$0.74	USD	Annual
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$2.55	USD	Annual
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$3.47	USD	Annual
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$1.03	USD	1 Quarter
Net income per unit (Note 2) (in dollars per unit)	`EarningsPerShareBasic`	$0.81	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`	$1.44	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$13.70M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$30.47M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$46.71M	USD	Annual
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$5.54K	USD	Annual
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$248.67K	USD	Annual
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$86.62K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.12M	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.05M	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$1.46M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.58M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.51M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$45.50M	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$37.64M	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$5.74M	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$81.84M	USD	Annual
Sales of U.S. Government securities	`ProceedsFromSaleOfHeldToMaturitySecurities`	$99.74K	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$60.98M	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$90.26M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.74M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.32M	USD	Annual
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.34M	USD	Annual
Distributions to unitholders	`PaymentsOfDividends`	$19.55M	USD	Annual
Distributions to unitholders	`PaymentsOfDividends`	$7.22M	USD	Annual
Distributions to unitholders	`PaymentsOfDividends`	$36.60M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.11M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$566.98K	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-13.38M	USD	Annual
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$881.81K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.59M	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`	$13.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$881.81K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.59M	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`	$13.70M	USD	Point-in-time
Net income	`ProfitLoss`	$45.56M	USD	Annual
Net income	`ProfitLoss`	$33.42M	USD	Annual
Net income	`ProfitLoss`	$9.76M	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$-933.10K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$382.97K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$1.91M	USD	Annual
Decrease (increase) in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$-42.91K	USD	Annual
Decrease (increase) in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$-72.14K	USD	Annual
Decrease (increase) in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$150.66K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$1.03K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-1.32K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-168.00	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$277.51K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$25.80K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-63.60K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.58M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.51M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$45.50M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$18.24M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$1.84M	USD	Annual
Distributions declared and payable	`DistributionsDeclared`	$15.48M	USD	Annual

Stockholders Equity 27 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`	$0.55	USD	Annual
First Quarterly Distribution Paid Per Unit	`FirstQuarterlyDistributionPaidPerUnit`	$0.45	USD	Annual
Second Quarterly Distribution Paid Per Unit	`SecondQuarterlyDistributionPaidPerUnit`	$0.16	USD	Annual
Second Quarterly Distribution Paid Per Unit	`SecondQuarterlyDistributionPaidPerUnit`	$0.20	USD	Annual
Second Quarterly Distribution Paid Per Unit	`SecondQuarterlyDistributionPaidPerUnit`	$0.22	USD	Annual
Third Quarterly Distribution Paid Per Unit	`ThirdQuarterlyDistributionPaidPerUnit`	$0.10	USD	Annual
Third Quarterly Distribution Paid Per Unit	`ThirdQuarterlyDistributionPaidPerUnit`	$0.94	USD	Annual
Third Quarterly Distribution Paid Per Unit	`ThirdQuarterlyDistributionPaidPerUnit`	$0.64	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$1.39	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$0.14	USD	Annual
Fourth Quarterly Distribution Declared Or Paid Per Unit	`FourthQuarterlyDistributionDeclaredOrPaidPerUnit`	$1.18	USD	Annual
Units, Beginning Balance	`SharesOutstanding`	13.12M	shares	Point-in-time
Units, Beginning Balance	`SharesOutstanding`	13.12M	shares	Point-in-time
Net income	`NetIncomeLoss`	$4.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.56M	USD	Annual
Net income	`NetIncomeLoss`	$13.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.42M	USD	Annual
Net income	`NetIncomeLoss`	$10.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.76M	USD	Annual
Net income	`NetIncomeLoss`	$14.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.47M	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.