10-Q Filing

MESABI TRUST CIK: 65172 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-005562`
Period End Date	20190430
Filing Date	20190607
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	msb-20190430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 17 Cash Flow Statement 40

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`	$450.42K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$314.83K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$881.81K	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates fair value)	`HeldToMaturitySecuritiesCurrent`	$16.69M	USD	Point-in-time
U.S. Government securities, at amortized cost (which approximates fair value)	`HeldToMaturitySecuritiesCurrent`	$32.12M	USD	Point-in-time
Accrued income receivable	`AccountsReceivableNetCurrent`	$3.38M	USD	Point-in-time
Accrued income receivable	`AccountsReceivableNetCurrent`	$2.34M	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$1.29M	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$56.36K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$71.08K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$54.47K	USD	Point-in-time
Current assets	`AssetsCurrent`	$35.45M	USD	Point-in-time
Current assets	`AssetsCurrent`	$21.88M	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`	$35.45M	USD	Point-in-time
Total assets	`Assets`	$21.88M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$11.68M	USD	Point-in-time
Distribution payable	`InterestAndDividendsPayableCurrent`	$18.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$167.11K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrentAndNoncurrent`	$411.51K	USD	Point-in-time
Total liabilities	`Liabilities`	$18.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.84M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$16.81M	USD	Point-in-time
Unallocated reserve	`UnallocatedReserve`	$10.04M	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`	$21.88M	USD	Point-in-time
Total liabilities, unallocated reserve and trust corpus	`LiabilitiesAndStockholdersEquity`	$35.45M	USD	Point-in-time

Income Statement 17 line items

Line Item	Tag	Value	Unit	Period
Royalty income	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.65M	USD	1 Quarter
Royalty income	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.36M	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$37.38K	USD	1 Quarter
Interest	`InvestmentIncomeInterest`	$105.08K	USD	1 Quarter
Total revenues	`Revenues`	$6.68M	USD	1 Quarter
Total revenues	`Revenues`	$5.47M	USD	1 Quarter
Expenses	`CostOfGoodsAndServicesSold`	$368.20K	USD	1 Quarter
Expenses	`CostOfGoodsAndServicesSold`	$556.59K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.91M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.32M	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING	`WeightedAverageNumberOfSharesOutstandingBasic`	13.12M	shares	1 Quarter
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`	$0.37	USD	1 Quarter
Distribution declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.89	USD	Point-in-time
Distribution declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.45	USD	1 Quarter
Distribution declared per unit (Note 3) (in dollars per unit)	`DistributionDeclaredDistributionsPaidPerUnit`	$0.89	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$3.00M	USD	1 Quarter
Royalties received	`ProceedsFromRoyaltiesReceived`	$3.15M	USD	1 Quarter
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$16.75K	USD	1 Quarter
Interest received	`ProceedsFromMaturitiesPrepaymentsAndCallsOfSecuritiesOperatingActivities`	$40.32K	USD	1 Quarter
Expenses paid	`PaymentsForOperatingActivities`	$299.72K	USD	1 Quarter
Expenses paid	`PaymentsForOperatingActivities`	$817.59K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.37M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.71M	USD	1 Quarter
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$15.85M	USD	1 Quarter
Maturities of U.S. Government securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities`	$18.24M	USD	1 Quarter
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$2.80M	USD	1 Quarter
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$371.45K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.48M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.43M	USD	1 Quarter
Distributions to unitholders	`PaymentsOfDividends`	$18.24M	USD	1 Quarter
Distributions to unitholders	`PaymentsOfDividends`	$15.48M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-431.39K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.71M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$450.42K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	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`	$881.81K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$450.42K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	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`	$881.81K	USD	Point-in-time
Net income	`ProfitLoss`	$6.32M	USD	1 Quarter
Net income	`ProfitLoss`	$4.91M	USD	1 Quarter
Increase in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$1.04M	USD	1 Quarter
Increase in accrued income receivable	`IncreaseDecreaseInAccountsReceivable`	$2.34M	USD	1 Quarter
Increase in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$1.24M	USD	1 Quarter
Increase in contract asset	`IncreaseDecreaseInContractWithCustomerAsset`	$1.33M	USD	1 Quarter
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$16.61K	USD	1 Quarter
Increase in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$14.51K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$82.99K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-244.39K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.37M	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.71M	USD	1 Quarter
Distributions declared and payable	`DistributionsDeclared`	$11.68M	USD	1 Quarter
Distributions declared and payable	`DistributionsDeclared`	$5.90M	USD	1 Quarter

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