Financial Statements for Labrador Iron Ore Royalty Corporation

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Labrador Iron Ore Royalty Corporation financials

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Income Statement

Balance Sheet

Cash Flow

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In Millions of CAD (except for per share items)	3 months ending 2013-03-31	3 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	26.36	32.71	32.56	36.33	22.24
Other Revenue, Total	0.06	0.08	0.08	0.09	0.12
Total Revenue	26.42	32.78	32.64	36.43	22.36
Cost of Revenue, Total	6.17	6.22	7.78	8.63	5.74
Gross Profit	20.19	26.49	24.78	27.71	16.50
Selling/General/Admin. Expenses, Total	0.87	0.61	0.72	0.50	0.58
Research & Development	-	-	-	-	-
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	-	-	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	-2.24	-7.42	1.93	-1.47	2.70
Operating Income	28.66	40.21	30.71	37.90	19.66
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	-	-	-	-
Income Before Tax	28.66	40.21	30.71	37.90	19.66
Income After Tax	21.67	32.26	22.21	29.29	15.53
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	21.67	32.26	22.21	29.29	15.53
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	21.67	32.26	22.21	29.29	15.53
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	21.67	32.26	22.21	29.29	15.53
Income Available to Common Incl. Extra Items	21.67	32.26	22.21	29.29	15.53
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	-	-	-	-	-
Diluted Weighted Average Shares	63.75	64.14	63.44	63.68	64.73
Diluted EPS Excluding Extraordinary Items	0.34	0.50	0.35	0.46	0.24
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.25	0.25	0.25	0.25	0.25
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.34	0.50	0.35	0.46	0.24

In Millions of CAD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	123.84	162.06	164.21	76.89
Other Revenue, Total	0.37	0.48	0.24	0.14
Total Revenue	124.21	162.55	164.45	77.03
Cost of Revenue, Total	28.36	36.90	38.19	19.81
Gross Profit	95.48	125.16	126.02	57.08
Selling/General/Admin. Expenses, Total	2.41	2.12	3.05	1.81
Research & Development	-	-	-	-
Depreciation/Amortization	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	-	-	-
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	-4.26	-54.55	-72.80	-9.62
Operating Income	128.48	217.09	237.25	86.65
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-	-	-	-
Income Before Tax	128.48	217.09	237.25	86.65
Income After Tax	99.29	179.31	199.11	75.07
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	99.29	179.31	199.11	75.07
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	99.29	179.31	199.11	75.07
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	99.29	179.31	199.11	75.07
Income Available to Common Incl. Extra Items	99.29	179.31	199.11	75.07
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	-	-	-	-
Diluted Weighted Average Shares	64.00	64.00	64.00	64.00
Diluted EPS Excluding Extraordinary Items	1.55	2.80	3.11	1.17
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	1.00	1.00	1.00	1.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	1.55	2.80	3.11	1.17

In Millions of CAD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	-	-	-	-	-
Short Term Investments	-	-	-	-	-
Cash and Short Term Investments	17.03	26.92	24.99	27.65	41.81
Accounts Receivable - Trade, Net	29.64	29.29	32.19	36.41	22.37
Receivables - Other	-	-	-	-	-
Total Receivables, Net	33.12	32.44	39.10	42.72	27.61
Total Inventory	-	-	-	-	-
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	-	-	-	-	-
Total Current Assets	50.15	59.36	64.09	70.36	69.42
Property/Plant/Equipment, Total - Gross	-	-	-	-	-
Accumulated Depreciation, Total	-	-	-	-	-
Goodwill, Net	-	-	-	-	-
Intangibles, Net	282.31	283.26	283.01	284.36	285.79
Long Term Investments	360.51	351.77	341.34	327.68	310.01
Other Long Term Assets, Total	-	-	-	-	-
Total Assets	692.98	694.40	688.44	682.41	665.23
Accounts Payable	6.61	6.17	6.79	7.52	4.86
Accrued Expenses	-	0.00	7.49	7.49	7.49
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-	-
Other Current liabilities, Total	24.00	24.00	16.51	16.51	16.51
Total Current Liabilities	30.61	30.17	30.79	31.52	28.86
Long Term Debt	-	0.00	248.00	248.00	248.00
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	0.00	0.00	248.00	248.00	248.00
Total Debt	0.00	0.00	248.00	248.00	248.00
Deferred Income Tax	122.36	121.36	119.69	118.20	116.02
Minority Interest	-	-	-	-	-
Other Liabilities, Total	-	-	-	-	-
Total Liabilities	152.97	151.53	398.48	397.72	392.88
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	317.71	317.71	69.71	69.71	69.71
Additional Paid-In Capital	-	-	-	-	-
Retained Earnings (Accumulated Deficit)	242.43	244.76	236.50	230.81	218.02
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	-20.14	-19.60	-16.25	-15.82	-15.39
Total Equity	540.01	542.87	289.96	284.69	272.34
Total Liabilities & Shareholders' Equity	692.98	694.40	688.44	682.41	665.23
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	64.00	64.00	64.00	64.00	64.00

In Millions of CAD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	-	-	73.61	-
Short Term Investments	-	-	-	1.84
Cash and Short Term Investments	26.92	41.50	73.61	6.20
Accounts Receivable - Trade, Net	29.29	40.65	51.41	24.96
Receivables - Other	-	-	-	-
Total Receivables, Net	32.44	41.06	51.42	24.99
Total Inventory	-	-	-	-
Prepaid Expenses	-	-	-	-
Other Current Assets, Total	-	-	-	-
Total Current Assets	59.36	82.56	125.03	31.19
Property/Plant/Equipment, Total - Gross	-	-	-	-
Accumulated Depreciation, Total	-	-	-	-
Goodwill, Net	-	-	-	-
Intangibles, Net	283.26	287.13	291.89	297.49
Long Term Investments	351.77	299.28	241.16	210.95
Other Long Term Assets, Total	-	-	-	0.31
Total Assets	694.40	668.97	658.08	539.94
Accounts Payable	6.17	8.42	10.48	5.23
Accrued Expenses	0.00	7.49	7.49	0.00
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	-	-	-	-
Other Current liabilities, Total	24.00	16.51	71.03	16.51
Total Current Liabilities	30.17	32.42	89.00	21.74
Long Term Debt	0.00	248.00	248.00	0.00
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	0.00	248.00	248.00	0.00
Total Debt	0.00	248.00	248.00	0.00
Deferred Income Tax	121.36	114.83	107.71	105.05
Minority Interest	-	-	-	-
Other Liabilities, Total	-	-	-	-
Total Liabilities	151.53	395.25	444.71	126.79
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	317.71	69.71	69.71	317.71
Additional Paid-In Capital	-	-	-	-
Retained Earnings (Accumulated Deficit)	244.76	219.00	147.93	95.44
Treasury Stock - Common	-	-	-	-
Other Equity, Total	-19.60	-14.99	-4.27	-
Total Equity	542.87	273.72	213.37	413.15
Total Liabilities & Shareholders' Equity	694.40	668.97	658.08	539.94
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	64.00	64.00	64.00	64.00

In Millions of CAD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	21.67	99.29	67.03	44.83	15.53
Depreciation/Depletion	-	-	-	-	-
Amortization	0.95	3.87	4.12	2.77	1.34
Deferred Taxes	1.09	7.31	5.08	3.51	1.26
Non-Cash Items	-3.38	-13.17	-4.63	-5.00	-0.76
Changes in Working Capital	-6.23	-45.83	-38.57	-26.94	-0.55
Cash from Operating Activities	14.11	51.47	33.03	19.17	16.83
Capital Expenditures	-	-	-	-	-
Other Investing Cash Flow Items, Total	-	-	-	-	-
Cash from Investing Activities	-	-	-	-	-
Financing Cash Flow Items	-	-	-	-	-
Total Cash Dividends Paid	-24.00	-66.05	-49.54	-33.02	-16.51
Issuance (Retirement) of Stock, Net	-	-	-	-	-
Issuance (Retirement) of Debt, Net	-	-	-	-	-
Cash from Financing Activities	-24.00	-66.05	-49.54	-33.02	-16.51
Foreign Exchange Effects	-	-	-	-	-
Net Change in Cash	-9.89	-14.57	-16.50	-13.85	0.32
Cash Interest Paid, Supplemental	0.09	30.33	22.75	15.16	7.58
Cash Taxes Paid, Supplemental	6.00	24.61	22.61	15.00	7.50

In Millions of CAD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	99.29	179.31	199.11	75.07
Depreciation/Depletion	-	-	-	-
Amortization	3.87	4.75	5.60	4.71
Deferred Taxes	7.31	7.93	6.32	1.94
Non-Cash Items	-13.17	-3.56	-8.25	-23.42
Changes in Working Capital	-45.83	-66.51	-46.86	-15.89
Cash from Operating Activities	51.47	121.93	155.92	42.41
Capital Expenditures	-	-	-	-
Other Investing Cash Flow Items, Total	-	-	-	-
Cash from Investing Activities	-	-	-	-
Financing Cash Flow Items	-	-	-	0.00
Total Cash Dividends Paid	-66.05	-154.05	-88.51	-64.00
Issuance (Retirement) of Stock, Net	-	-	-	-
Issuance (Retirement) of Debt, Net	-	-	-	0.00
Cash from Financing Activities	-66.05	-154.05	-88.51	-64.00
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	-14.57	-32.11	67.41	-21.59
Cash Interest Paid, Supplemental	30.33	30.45	7.86	0.38
Cash Taxes Paid, Supplemental	24.61	44.75	17.81	34.77