INVESTMENTS IN OTHER ASSOCIATIONS

3 Months Ended

Mar. 31, 2020

INVESTMENTS IN OTHER ASSOCIATIONS

INVESTMENTS IN OTHER ASSOCIATIONS

NOTE 3 – INVESTMENTS IN OTHER ASSOCIATIONS

Investments in other associations include investments in the patronage capital of other cooperatives and other required investments in the organizations. Our investment in a cooperative increases when a cooperative allocates patronage capital credits to us and it decreases when we receive a cash retirement of the allocated capital credits from the cooperative. A cooperative allocates its patronage capital credits to us based upon our patronage (amount of business done) with the cooperative.

Investments in other associations are as follows (dollars in thousands):

	March 31,		December 31,
	2020		2019
Basin Electric Power Cooperative	$	117,368	$	117,368
National Rural Utilities Cooperative Finance Corporation - patronage capital		11,761		11,761
National Rural Utilities Cooperative Finance Corporation - capital term certificates		15,885		15,953
CoBank, ACB		11,141		10,201
Western Fuels Association, Inc.		2,193		2,409
Other		4,214		4,253
Investments in other associations	$	162,562	$	161,945

Our investments in other associations are considered equity securities without readily determinable fair values, and as such are measured at cost minus impairment. We have evaluated these investments for indicators of impairment. There were no impairments of these investments recognized during the three months ended March 31, 2020 or during 2019.