Del Taco Income Properties Iv (DTIPIV) 10-Q 14 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013
Document And Entity Information [Abstract]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	30-Sep-13
Document Fiscal Year Focus	'2013
Document Fiscal Period Focus	'Q3
Trading Symbol	'DTIPIV
Entity Registrant Name	'DEL TACO INCOME PROPERTIES IV
Entity Central Index Key	'0000812630
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Non-accelerated Filer

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:	'	'
Cash	$121,249	$127,651
Receivable from Del Taco LLC	36,007	35,761
Other current assets	702	552
Total current assets	157,958	163,964
PROPERTY AND EQUIPMENT:	'	'
Land	868,344	868,344
Land improvements	368,356	368,356
Buildings and improvements	1,289,860	1,289,860
Machinery and equipment	484,789	484,789
Property and equipment, gross	3,011,349	3,011,349
Less-accumulated depreciation	1,720,380	1,692,741
Property and equipment, net	1,290,969	1,318,608
Total assets	1,448,927	1,482,572
CURRENT LIABILITIES:	'	'
Payable to limited partners	19,483	18,165
Accounts payable	10,721	16,006
Total current liabilities	30,204	34,171
OBLIGATION TO GENERAL PARTNER	137,953	137,953
PARTNERS' EQUITY:	'	'
Limited partners; 165,375 units outstanding at September 30, 2013 and December 31, 2012	1,299,096	1,328,477
General partner-Del Taco LLC	-18,326	-18,029
Total partners' equity	1,280,770	1,310,448
Total liabilities and partners' equity	$1,448,927	$1,482,572

CONDENSED_BALANCE_SHEETS_Paren

CONDENSED BALANCE SHEETS (Parenthetical)	Sep. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]	'	'
Limited partners, units outstanding	165,375	165,375

CONDENSED_STATEMENTS_OF_INCOME

CONDENSED STATEMENTS OF INCOME (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]	'	'	'	'
RENTAL REVENUES	$110,873	$108,509	$325,238	$316,555
EXPENSES:	'	'	'	'
General and administrative	10,022	10,332	59,622	56,777
Depreciation	9,213	9,213	27,639	27,639
Total expenses	19,235	19,545	87,261	84,416
Operating income	91,638	88,964	237,977	232,139
OTHER INCOME:	'	'	'	'
Interest	30	28	85	78
Other	125	315	475	615
Net income	$91,793	$89,307	$238,537	$232,832
Net income per limited partnership unit (Note 2)	$0.55	$0.53	$1.43	$1.39
Number of units used in computing per unit amounts	165,375	165,375	165,375	165,375

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$238,537	$232,832
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	27,639	27,639
Changes in operating assets and liabilities:	'	'
Receivable from Del Taco LLC	-246	642
Other current assets	-150	-44
Payable to limited partners	1,318	640
Accounts payable	-5,285	-13,295
Net cash provided by operating activities	261,813	248,414
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Cash distributions to partners	-268,215	-253,449
Net change in cash	-6,402	-5,035
Beginning cash balance	127,651	118,245
Ending cash balance	$121,249	$113,210

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	NOTE 1 - BASIS OF PRESENTATION
	The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements and should therefore be read in conjunction with the financial statements and notes thereto contained in the annual report on Form 10-K for the year ended December 31, 2012 for Del Taco Income Properties IV (the Partnership or the Company). In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary to present fairly the Partnership’s financial position at September 30, 2013, the results of operations for the three and nine month periods ended September 30, 2013 and 2012 and cash flows for the nine month periods ended September 30, 2013 and 2012 have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. Amounts related to disclosure of December 31, 2012 balances within these condensed financial statements were derived from the 2012 audited financial statements.
	Management has evaluated events subsequent to September 30, 2013 through the date that the accompanying condensed financial statements were filed with the Securities and Exchange Commission for transactions and other events which may require adjustment of and/or disclosure in such financial statements.

Net_Income_Per_Limited_Partner

Net Income Per Limited Partnership Unit	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Net Income Per Limited Partnership Unit	'
	NOTE 2 - NET INCOME PER LIMITED PARTNERSHIP UNIT
	Net income per limited partnership unit is based on net income attributable to the limited partners (after 1% allocation to the general partner) using the weighted average number of units outstanding during the periods presented, which amounted to 165,375 in 2013 and 2012.
	Pursuant to the partnership agreement, annual partnership income or loss is allocated one percent to Del Taco LLC, formerly known as Del Taco Inc., (Del Taco or the General Partner) and 99 percent to the limited partners. Partnership gains from any sale or refinancing will be allocated one percent to the General Partner and 99 percent to the limited partners until allocated gains and profits equal losses, distributions and syndication costs, and until each class of limited partners receive their priority return as defined in the partnership agreement. Additional gains will be allocated 12 percent to the General Partner and 88 percent to the limited partners.

Leasing_Activities

Leasing Activities	9 Months Ended
	Sep. 30, 2013
Leases [Abstract]	'
Leasing Activities	'
	NOTE 3 - LEASING ACTIVITIES
	The Partnership leases three properties for operation of restaurants to Del Taco on a triple net basis. One property has been subleased to a Del Taco franchisee. The leases are for terms of 32 years commencing with the completion of the restaurant facility located on each property and require monthly rentals equal to 12 percent of the gross sales of the restaurants. The leases expire in the years 2021 to 2022.
	Pursuant to the lease agreements, minimum rentals of $3,500 per month are due to the Partnership during the first six months of any non-operating period caused by an insured casualty loss.
	For the three months ended September 30, 2013, the two restaurants operated by Del Taco, for which the Partnership is the lessor, had combined, unaudited sales of $586,926 and unaudited net losses of $5,195 as compared to unaudited sales of $568,310, and unaudited net income of $4,127, respectively, for the corresponding period in 2012. Net income or loss of each restaurant includes charges for general and administrative expenses incurred in connection with supervision of restaurant operations and interest expense and the decrease in net income from the corresponding period of the prior year primarily relates to increases in operating costs. For the three months ended September 30, 2013, the one restaurant operated by a Del Taco franchisee, for which the Partnership is the lessor, had unaudited sales of $337,015 as compared with $335,936 during the same period in 2012.
	For the nine months ended September 30, 2013, the two restaurants operated by Del Taco, for which the Partnership is the lessor, had combined, unaudited sales of $1,716,457 and unaudited net losses of $5,700 as compared to $1,663,410 and unaudited net income of $1,170 for the corresponding period in 2012. Net income or loss of each restaurant includes charges for general and administrative expenses incurred in connection with supervision of restaurant operations and interest expense and the decrease in net income from the corresponding period of the prior year primarily relates to increases in operating costs. For the nine months ended September 30, 2013, the one restaurant operated by a Del Taco franchisee, for which the Partnership is the lessor, had unaudited sales of $993,862 as compared with $974,550 during the same period in 2012.

Transactions_with_Del_Taco

Transactions with Del Taco	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Transactions with Del Taco	'
	NOTE 4 - TRANSACTIONS WITH DEL TACO
	The receivable from Del Taco consists primarily of rent accrued for the month of September 2013. The September rent receivable was collected in October 2013.
	Del Taco serves in the capacity of general partner in other partnerships which are engaged in the business of operating restaurants, and three other partnerships which were formed for the purpose of acquiring real property in California for construction of Mexican-American restaurants for lease under long-term agreements to Del Taco for operation under the Del Taco trade name.
	In addition, see Note 5 with respect to certain distributions to the General Partner.

Distributions

Distributions	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Distributions	'
	NOTE 5 - DISTRIBUTIONS
	Total cash distributions declared and paid in February, June and August 2013 were $99,486, $78,585 and $90,144, respectively. On October 21, 2013, a distribution to the limited partners of $95,799, or approximately $0.58 per limited partnership unit, was approved. Such distribution was paid on November 6, 2013. The General Partner also received a distribution of $968 with respect to its 1% partnership interest in November 2013.

Payable_to_Limited_Partners

Payable to Limited Partners	9 Months Ended
	Sep. 30, 2013
Other Liabilities Disclosure [Abstract]	'
Payable to Limited Partners	'
	NOTE 6 - PAYABLE TO LIMITED PARTNERS
	Payable to limited partners represents a reclassification from cash for distribution checks made to limited partners that have remained outstanding for six months or longer.

Concentration_of_Risk

Concentration of Risk	9 Months Ended
	Sep. 30, 2013
Risks And Uncertainties [Abstract]	'
Concentration of Risk	'
	NOTE 7 - CONCENTRATION OF RISK
	The three restaurants leased to Del Taco make up all of the income producing assets of the Partnership and contributed all of the Partnership’s rental revenues during the three and nine months ended September 30, 2013 and 2012. Therefore, the business of the Partnership is entirely dependent on the success of the Del Taco trade name restaurants that lease the properties.
	The Partnership maintains substantially all of its cash and cash equivalents at one major commercial bank. Although the Partnership at times maintains balances that exceed the federally insured limit, it has not experienced any losses related to these balances and management believes the credit risk to be minimal.

Net_Income_Per_Limited_Partner1

Net Income Per Limited Partnership Unit - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Line Items]	'	'	'	'
Percentage of net income allocated to general partner	'	'	1.00%	'
Weighted average number of units outstanding to general partner	165,375	165,375	165,375	165,375
General Partner [Member]	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Percentage of net income allocated to general partner	'	'	1.00%	'
Percentage of gain on sale and refinancing allocated to General Partner	'	'	1.00%	'
Percentage of additional gain on sale and refinancing allocated to General Partner	'	'	12.00%	'
Limited Partners [Member]	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Percentage of net income attributable limited partners	'	'	99.00%	'
Percentage of gain on sale and refinancing allocated to limited partners	'	'	99.00%	'
Percentage of additional gain on sale and refinancing allocated to limited partners	'	'	88.00%	'

Leasing_Activities_Additional_

Leasing Activities - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
	Restaurants	Restaurants	Restaurants	Restaurants
Operating Leased Assets [Line Items]	'	'	'	'
Number of restaurants leased to Del Taco	3	3	3	3
Number of properties subleased to Del Taco franchisee	'	'	1	'
Number of lease years	'	'	'32 years	'
Percentage of gross sales of restaurants	'	'	12.00%	'
Leases expiration period	'	'	'2021 to 2022	'
Minimum rentals due to Partnership	'	'	$3,500	'
Number of restaurants operated	2	'	2	'
Combined unaudited sales	586,926	568,310	1,716,457	1,663,410
Combined unaudited net income (loss)	-5,195	4,127	-5,700	1,170
Del Taco franchisee [Member]	'	'	'	'
Operating Leased Assets [Line Items]	'	'	'	'
Number of restaurants operated	1	'	1	'
Combined unaudited sales	$337,015	$335,936	$993,862	$974,550

Transactions_with_Del_Taco_Add

Transactions with Del Taco - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
	Acquisition
Related Party Transactions [Abstract]	'
Number of other partnerships formed for acquisition	3

Distributions_Additional_Infor

Distributions - Additional Information (Detail) (USD $)	1 Months Ended			3 Months Ended
	Aug. 31, 2013	Jun. 30, 2013	Feb. 28, 2013	Sep. 30, 2013
Cash Distributions [Abstract]	'	'	'	'
Total cash distributions declared and paid	$90,144	$78,585	$99,486	'
Distribution to limited partner, declaration date	'	'	'	21-Oct-13
Distribution to limited partners amount approved	'	'	'	95,799
Distribution to limited partner, per unit amount declared	'	'	'	$0.58
Distribution to limited partner, distribution date	'	'	'	6-Nov-13
Distributions to general partner	'	'	'	$968
General partner, partnership interest percentage	'	'	'	1.00%
Distribution to general partner, distribution date	'	'	'	30-Nov-13

Payable_to_Limited_Partners_Ad

Payable to Limited Partners - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
Payables And Accruals [Abstract]	'
Period of payable outstanding to limited partners	'Six months or longer

Concentration_of_Risk_Addition

Concentration of Risk - Additional Information (Detail)	Sep. 30, 2013	Sep. 30, 2012
	CommercialBank	Restaurants
	Restaurants	CommercialBank
Risks And Uncertainties [Abstract]	'	'
Number of properties leased	3	3
Commercial bank	1	1