| Document and Entity Information | 9 Months Ended |
| Sep. 30, 2016shares | |
| Document and Entity Information | |
| Entity Registrant Name | KIEWIT ROYALTY TRUST |
| Entity Central Index Key | 711,477 |
| Document Type | 10-Q |
| Document Period End Date | Sep. 30, 2016 |
| Amendment Flag | false |
| Current Fiscal Year End Date | --12-31 |
| Entity Current Reporting Status | Yes |
| Entity Filer Category | Smaller Reporting Company |
| Entity Common Stock, Shares Outstanding | 0 |
| Document Fiscal Year Focus | 2,016 |
| Document Fiscal Period Focus | Q3 |
| CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
| Assets | ||
| Cash and cash equivalents | $ 342,470 | $ 2,531 |
| Royalty and overriding royalty interests in coal leases | 167,817 | 167,817 |
| Less accumulated amortization | (167,817) | (167,817) |
| Total assets | 342,470 | 2,531 |
| Liabilities | ||
| Trust reserve | 342,470 | 2,531 |
| Total liabilities and trust corpus | $ 342,470 | $ 2,531 |
| CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS (Parenthetical) - shares | Sep. 30, 2016 | Dec. 31, 2015 |
| CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS | ||
| Beneficial interest units, authorized (in shares) | 12,633,432 | 12,633,432 |
| Beneficial interest units, issued (in shares) | 12,633,432 | 12,633,432 |
| Beneficial interest units, outstanding (in shares) | 12,633,432 | 12,633,432 |
| CONDENSED STATEMENTS OF DISTRIBUTABLE INCOME - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
| CONDENSED STATEMENTS OF DISTRIBUTABLE INCOME | ||||
| Royalty income | $ 362,846 | $ 1,329,297 | $ 839,706 | $ 1,908,587 |
| Interest income | 3 | 11 | 6 | 14 |
| Trust expenses | (47,738) | (38,937) | (132,020) | (127,043) |
| Trust reserve | $ (315,111) | (339,939) | ||
| Distributable income | $ 1,290,371 | $ 367,753 | $ 1,781,558 | |
| Distributable income per unit (in dollars per unit) | $ 0.1021394 | $ 0.0291095 | $ 0.1410193 | |
| CONDENSED STATEMENTS OF CHANGES IN TRUST CORPUS - USD ($) | 9 Months Ended | |
| Sep. 30, 2016 | Sep. 30, 2015 | |
| CONDENSED STATEMENTS OF CHANGES IN TRUST CORPUS | ||
| Distributable income | $ 367,753 | $ 1,781,558 |
| Distributions payable to unit holders | $ (367,753) | $ (1,781,558) |
| Basis of Presentation | 9 Months Ended |
| Sep. 30, 2016 | |
| Basis of Presentation | |
| Basis of Presentation | Basis of Presentation The accompanying condensed financial statements have been prepared in accordance with the instructions for Form 10-Q and do not necessarily include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of U.S. Bank National Association, as sole trustee of the Trust (the “Trustee”), all adjustments necessary for a fair presentation have been included. For further information, refer to the financial statements and footnotes included in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2015. |
| Summary of Significant Accounting Policies | 9 Months Ended |
| Sep. 30, 2016 | |
| Summary of Significant Accounting Policies | |
| Summary of Significant Accounting Policies | Summary of Significant Accounting Policies (a) Basis of Accounting: The condensed financial statements of the Trust, as prepared on the modified cash basis, reflect the Trust’s assets, liabilities, trust corpus, and distributable income as follows: 1. Royalty income and interest income are recognized in the month in which amounts are received by the Trust. 2. Trust expenses, consisting principally of routine general and administrative costs, include payments made during the accounting period. 3. Reserves for liabilities that are contingent or uncertain in amount may also be established if considered necessary. 4. Net royalty and overriding royalty interests that are producing properties are amortized using the unit-of-production method. This amortization is shown as a reduction of Trust corpus. 5. Distributions to Unit Holders are recognized when declared by the Trustee. 6. Production withholding taxes withheld from Unit Holder distributions and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from royalty income in the condensed statement of distributable income. These condensed statements differ from financial statements prepared in accordance with GAAP and were prepared on the modified cash basis of reporting, which is considered to be the most meaningful because Distributions to Unit Holders are based on net cash receipts. This comprehensive basis of accounting, other than GAAP, corresponds to the accounting permitted by royalty trusts by the U.S. Securities and Exchange Commission as specified by Staff Accounting Bulletin Topic 12E, Financial Statements of Royalty Trusts . The condensed financial statements of the Trust differ from financial statements prepared in conformity with United States generally accepted accounting principles (GAAP) because of the following: · Royalty income and interest are recognized in the month received rather than in the month of production. · Expenses generally are not accrued. · Amortization of the net royalty and overriding royalty interests is shown as a reduction to Trust corpus and not as a charge to operating results. · Reserves may be established for contingencies that would not be recorded under GAAP. (b) Cash and Cash Equivalents: The Trust considers all highly liquid financial instruments with original maturities of three months or less when purchased to be cash equivalents. (c) Related Party: The Trust was organized to provide an efficient, orderly and practical means of administering the income received from royalty interests and is administered by the Trustee. Pursuant to the terms of the Trust Indenture, the Trust pays the Trustee $80,000 per year. The Trustee may adjust this fee annually in its sole discretion. The Trust pays a Trustee fee of $20,000 per quarter as long as the Trust has sufficient royalty income to make such payments. On or about April 26, 2016, the Trust provided written notice to the unit holders that the annual trustee fee will be increasing to $100,000 annually, which will be paid at the rate of $25,000 per quarter. The first $25,000 quarterly installment will be taken for the quarter ending December 31, 2016, and every quarter thereafter. In the first nine months of fiscal years 2016 and 2015, the Trust paid an aggregate of $60,000 in Trustee fees, $20,000 for each quarter. (d) Subsequent Events: On August 16, 2016, the County Court in and for Douglas County, Nebraska (the “Court”) entered an order approving the modification of the Trust’s Trust Indenture dated May 17, 1982, and restated on June 10, 1982 (together, the “Trust Agreement”). The Court approved modifications to the Trust Agreement, which included permitting biannual distributions within ten days after June 30 and December 31 of each year, to the extent funds are available. Accordingly, the Trust did not pay a distribution for the third quarter of 2016 and instead reserved the amount for distribution at the time of the next distribution, which the Trust anticipates will be in January 2017. Other than the modifications to the Trust Agreement, we have evaluated the Trust activity and have concluded that there are no additional material subsequent events requiring additional disclosure or recognition in these condensed financial statements. |
| Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
| Sep. 30, 2016 | |
| Summary of Significant Accounting Policies | |
| Basis of Accounting | (a) Basis of Accounting: The condensed financial statements of the Trust, as prepared on the modified cash basis, reflect the Trust’s assets, liabilities, trust corpus, and distributable income as follows: 1. Royalty income and interest income are recognized in the month in which amounts are received by the Trust. 2. Trust expenses, consisting principally of routine general and administrative costs, include payments made during the accounting period. 3. Reserves for liabilities that are contingent or uncertain in amount may also be established if considered necessary. 4. Net royalty and overriding royalty interests that are producing properties are amortized using the unit-of-production method. This amortization is shown as a reduction of Trust corpus. 5. Distributions to Unit Holders are recognized when declared by the Trustee. 6. Production withholding taxes withheld from Unit Holder distributions and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from royalty income in the condensed statement of distributable income. These condensed statements differ from financial statements prepared in accordance with GAAP and were prepared on the modified cash basis of reporting, which is considered to be the most meaningful because Distributions to Unit Holders are based on net cash receipts. This comprehensive basis of accounting, other than GAAP, corresponds to the accounting permitted by royalty trusts by the U.S. Securities and Exchange Commission as specified by Staff Accounting Bulletin Topic 12E, Financial Statements of Royalty Trusts . The condensed financial statements of the Trust differ from financial statements prepared in conformity with United States generally accepted accounting principles (GAAP) because of the following: · Royalty income and interest are recognized in the month received rather than in the month of production. · Expenses generally are not accrued. · Amortization of the net royalty and overriding royalty interests is shown as a reduction to Trust corpus and not as a charge to operating results. · Reserves may be established for contingencies that would not be recorded under GAAP. |
| Cash and Cash Equivalents | (b) Cash and Cash Equivalents: The Trust considers all highly liquid financial instruments with original maturities of three months or less when purchased to be cash equivalents. |
| Related Party | (c) Related Party: The Trust was organized to provide an efficient, orderly and practical means of administering the income received from royalty interests and is administered by the Trustee. Pursuant to the terms of the Trust Indenture, the Trust pays the Trustee $80,000 per year. The Trustee may adjust this fee annually in its sole discretion. The Trust pays a Trustee fee of $20,000 per quarter as long as the Trust has sufficient royalty income to make such payments. On or about April 26, 2016, the Trust provided written notice to the unit holders that the annual trustee fee will be increasing to $100,000 annually, which will be paid at the rate of $25,000 per quarter. The first $25,000 quarterly installment will be taken for the quarter ending December 31, 2016, and every quarter thereafter. In the first nine months of fiscal years 2016 and 2015, the Trust paid an aggregate of $60,000 in Trustee fees, $20,000 for each quarter. |
| Subsequent Events | (d) Subsequent Events: On August 16, 2016, the County Court in and for Douglas County, Nebraska (the “Court”) entered an order approving the modification of the Trust’s Trust Indenture dated May 17, 1982, and restated on June 10, 1982 (together, the “Trust Agreement”). The Court approved modifications to the Trust Agreement, which included permitting biannual distributions within ten days after June 30 and December 31 of each year, to the extent funds are available. Accordingly, the Trust did not pay a distribution for the third quarter of 2016 and instead reserved the amount for distribution at the time of the next distribution, which the Trust anticipates will be in January 2017. Other than the modifications to the Trust Agreement, we have evaluated the Trust activity and have concluded that there are no additional material subsequent events requiring additional disclosure or recognition in these condensed financial statements. |
| Summary of Significant Accounting Policies (Details) | Aug. 16, 2016 | Apr. 26, 2016USD ($) | Sep. 30, 2016USD ($)item | Sep. 30, 2015USD ($) |
| Related Party | ||||
| Trust pays to Trustee | $ 100,000 | $ 80,000 | ||
| Quarterly Trustee Fee | $ 25,000 | 20,000 | $ 20,000 | |
| Payment for Trustee Fee | $ 60,000 | $ 60,000 | ||
| Subsequent Events | ||||
| Period within which the biannual distributions of trust are due | 10 days | |||
| Number of additional material subsequent events | item | 0 |
