2013 Form 10-K Financial Statement

#000114420414014586 Filed on March 10, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012
Revenue -$17.41M -$2.623M
YoY Change 563.73%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $6.134M $5.221M
YoY Change 17.48% 13.09%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $42.60K $25.14K
YoY Change 69.48% 87.03%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$23.30M -$7.612M
YoY Change 206.09% -88.83%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2013 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $437.0M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $496.8M
YoY Change 40.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $987.9K
YoY Change 50.31%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $496.8M
YoY Change 40.36%

Cashflow Statement

Concept 2013 2012 Q4 2012
OPERATING ACTIVITIES
Net Income -$23.30M -$7.612M
YoY Change 206.09% -88.83%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.524M -$22.78M
YoY Change -106.69% -75.58%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $41.61M $147.2M
YoY Change -71.74% -53.77%
NET CHANGE
Cash From Operating Activities $1.524M -$22.78M
Cash From Investing Activities
Cash From Financing Activities $41.61M $147.2M
Net Change In Cash $43.13M $124.4M
YoY Change -65.34% -44.73%
FREE CASH FLOW
Cash From Operating Activities $1.524M -$22.78M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q4 us-gaap Commissions Payable To Broker Dealers And Clearing Organizations
CommissionsPayableToBrokerDealersAndClearingOrganizations
22815 USD
CY2013Q4 usci Sponsor Capital Account
SponsorCapitalAccount
0 USD
CY2013 us-gaap Incentive Distribution Policy Managing Member Or General Partner Description
IncentiveDistributionPolicyManagingMemberOrGeneralPartnerDescription
<div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Adoption of New Monthly Allocation Convention</font></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#160;</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Effective January&#160;1, 2012, USCI adopted a new convention for allocating items of income, gain, loss, deduction and credits. In situations where a partner&#8217;s interest in a partnership is sold or otherwise transferred during a taxable year, the Code generally requires that partnership tax items for the year be allocated among the partners using either an interim closing of the books or a daily proration method. USCI uses an interim closing of the books method under which income, gains and losses (both realized and unrealized), deductions and credits are determined on a monthly basis. Prior to January&#160;1, 2012, USCI allocated these tax items among the holders of the shares (including those who dispose of shares during a taxable year) in proportion to the number of shares owned by them on the last trading day of each month. For this purpose, if an investor holds a share as of the close of business of the last trading day of a particular month, such investor is treated as if it owned the share throughout the month and thus is allocated all of the items of income, gain, deduction, loss or credit attributable to that share for such month (the &#8220;same-month convention&#8221;).</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#160;</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Effective January&#160;1, 2012 for USCI, November&#160;15, 2011 for CPER, April&#160;13, 2012 for USAG and June&#160;19, 2012 for USMI, an allocation convention is applied pursuant to which each Trust Series&#8217; tax items for each month will be allocated among the holders of shares in proportion to the number of shares owned by them as of the close of business of the last trading day of the previous month. If an investor who holds a share as of the close of business on the last trading day of the previous month disposes of a share during the current month, such investor will be treated for purposes of making allocations as if it owned the share throughout the current month (the &#8220;next-month convention&#8221;). For example, an investor who buys a share on April&#160;10 of a year and sells it on May&#160;20 of the same year will be allocated all of the tax items attributable to May (because he or she is deemed to hold it through the last day of May) but will not be allocated any of the tax items attributable to April. The tax items attributable to that share for April will be allocated to the person who is the actual or deemed holder of the share as of the close of business on the last trading day of March.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#160;</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">For investors in USCI, as a result of the transition from the same-month convention to the next-month convention, an investor who bought a share in December 2011 and sold the share on or after January&#160;1, 2012 will be allocated the tax items attributable to that share for December 2011 as well as the tax items attributable to that share for 2012.</font></font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q4 us-gaap Liabilities
Liabilities
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CY2013 us-gaap Use Of Estimates
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<div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Use of Estimates</font></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#160;</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with GAAP requires USCF to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of the revenue and expenses during the reporting period.&#160;Actual results may differ from those estimates and assumptions.</font></font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2013Q4 us-gaap Capital Units Outstanding
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CY2013Q4 usci Percentage Of Income Tax Examination Minimum Likelihood Of Tax Benefits Being Realized Upon Settlement
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CY2013 usci Cash Equivalents Maturity Period
CashEquivalentsMaturityPeriod
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CY2010Q4 usci Sponsor Capital Account
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CY2009Q4 usci Sponsor Capital Account
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CY2013Q4 usci Capital Contributions Initial
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CY2013 us-gaap Management Fee Description
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CY2013 us-gaap Trustee Fees
TrusteeFees
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CY2013 us-gaap Noninterest Expense Transfer Agent And Custodian Fees
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CY2013 usci Management Fee Paid To External Entity Description
ManagementFeePaidToExternalEntityDescription
For USCI, the fee is equal to the percentage fees paid to USCF minus 0.14%, with that result multiplied by 0.5, minus 0.06% to arrive at the actual fee paid. For each of CPER, USAG and USMI, the fee is equal to the percentage fees paid to USCF minus 0.18%, with that result multiplied by 0.5, minus 0.6% to arrive at the actual fee paid.
CY2013Q4 us-gaap Investment Owned Balance Contracts
InvestmentOwnedBalanceContracts
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CY2013Q4 usci Unrealized Gain Loss On Open Commodity Futures And Cleared Swap Contracts
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10789747 USD
CY2011 us-gaap Gain Loss On Sale Of Investments
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CY2012 us-gaap Gain Loss On Sale Of Investments
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CY2013 us-gaap Gain Loss On Sale Of Investments
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CY2012 us-gaap Unrealized Gain Loss On Investments
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CY2013 us-gaap Unrealized Gain Loss On Investments
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CY2011 us-gaap Foreign Currency Transaction Gain Loss Realized
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CY2012 us-gaap Foreign Currency Transaction Gain Loss Realized
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CY2013 us-gaap Foreign Currency Transaction Gain Loss Realized
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CY2013 us-gaap Trading Securities Realized Gain Loss
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CY2012 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2011 us-gaap Interest Income Operating
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CY2011 us-gaap Other Income
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CY2012 us-gaap Other Income
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CY2013 us-gaap Other Income
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CY2011 usci Total Income Loss
TotalIncomeLoss
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CY2012 usci Total Income Loss
TotalIncomeLoss
-2623088 USD
CY2013 usci Total Income Loss
TotalIncomeLoss
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CY2011 us-gaap Asset Management Costs
AssetManagementCosts
3782116 USD
CY2012 us-gaap Asset Management Costs
AssetManagementCosts
4118140 USD
CY2013 us-gaap Asset Management Costs
AssetManagementCosts
4893876 USD
CY2011 us-gaap Professional Fees
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494585 USD
CY2012 us-gaap Professional Fees
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718427 USD
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CY2011 us-gaap Floor Brokerage Exchange And Clearance Fees
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307461 USD
CY2012 us-gaap Floor Brokerage Exchange And Clearance Fees
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CY2013 us-gaap Floor Brokerage Exchange And Clearance Fees
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CY2011 us-gaap Other Expenses
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CY2012 us-gaap Other Expenses
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25135 USD
CY2013 us-gaap Other Expenses
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CY2011 us-gaap Operating Expenses
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4616936 USD
CY2012 us-gaap Operating Expenses
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5221100 USD
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OperatingExpenses
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CY2011 usci Expense Waiver
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49360 USD
CY2012 usci Expense Waiver
ExpenseWaiver
232531 USD
CY2013 usci Expense Waiver
ExpenseWaiver
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NetOperatingExpenses
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NetOperatingExpenses
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NetIncomeLoss
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NetIncomeLoss
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CapitalContributions
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CY2012 usci Capital Account Redemptions
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CY2013 dei Document Type
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10-K
CY2013 dei Amendment Flag
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false
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Trading Symbol
TradingSymbol
USCI
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9750000 shares
CY2013 dei Entity Registrant Name
EntityRegistrantName
United States Commodity Index Funds Trust
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001479247
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
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CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
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CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
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CY2013 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013Q2 dei Entity Public Float
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CY2013 us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
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CY2013 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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CY2013 us-gaap Increase Decrease Due From Officers And Stockholders
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CY2013 us-gaap Increase Decrease In Accrued Interest Receivable Net
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CY2013 us-gaap Increase Decrease In Other Operating Assets
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3468 USD
CY2012 us-gaap Increase Decrease In Other Operating Assets
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2128 USD
CY2011 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2558 USD
CY2013 usci Increase Decrease Management Fees Payable
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8611 USD
CY2012 usci Increase Decrease Management Fees Payable
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69497 USD
CY2011 usci Increase Decrease Management Fees Payable
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CY2013 usci Increase Decrease In Professional Fees Payable
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CY2012 usci Increase Decrease In Professional Fees Payable
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CY2011 usci Increase Decrease In Professional Fees Payable
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CY2013 us-gaap Increase Decrease In Payables To Broker Dealers
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CY2012 us-gaap Increase Decrease In Payables To Broker Dealers
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CY2011 us-gaap Increase Decrease In Payables To Broker Dealers
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CY2013 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2011 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2013 us-gaap Increase Decrease In Other Operating Liabilities
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CY2012 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 USD
CY2011 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities
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CY2012 us-gaap Net Cash Provided By Used In Operating Activities
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CY2013 us-gaap Proceeds From Contributed Capital
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CY2012 us-gaap Proceeds From Contributed Capital
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CY2011 us-gaap Proceeds From Contributed Capital
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CY2013 usci Payments To Redemption Of Units
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CY2011 usci Payments To Redemption Of Units
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CY2012 us-gaap Net Cash Provided By Used In Financing Activities
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CY2011 us-gaap Net Cash Provided By Used In Financing Activities
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CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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87446112 USD
CY2011Q4 usci Trust Capital Account
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CY2010Q4 usci Trust Capital Account Units
TrustCapitalAccountUnits
1600020 shares
CY2011Q4 usci Trust Capital Account Units
TrustCapitalAccountUnits
6100000 shares
CY2012Q4 usci Trust Capital Account Units
TrustCapitalAccountUnits
8650000 shares
CY2013Q4 usci Trust Capital Account Units
TrustCapitalAccountUnits
9450000 shares
CY2011 usci Capital Account Units Contributed
CapitalAccountUnitsContributed
7000040 shares
CY2012 usci Capital Account Units Contributed
CapitalAccountUnitsContributed
3200080 shares
CY2013 usci Capital Account Units Contributed
CapitalAccountUnitsContributed
2300000 shares
CY2011 usci Capital Account Units Redeemed
CapitalAccountUnitsRedeemed
2500060 shares
CY2012 usci Capital Account Units Redeemed
CapitalAccountUnitsRedeemed
650080 shares
CY2013 usci Capital Account Units Redeemed
CapitalAccountUnitsRedeemed
1500000 shares
CY2013Q4 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
16107 USD
CY2012Q4 us-gaap Due To Other Related Parties Current And Noncurrent
DueToOtherRelatedPartiesCurrentAndNoncurrent
11787 USD
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2013 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
63886 USD
CY2012 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
44987 USD
CY2011 us-gaap Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
19335 USD
CY2013 usci Common Units Issued For Acquisition
CommonUnitsIssuedForAcquisition
20 shares

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