Notes Receivable from Asset Sales

12 Months Ended

Dec. 31, 2015

Notes Receivable From Asset Sales [Abstract]

Notes Receivables From Asset Sales [Text Block]

. NOTES RECEIVABLE FROM ASSET SALES

Notes receivable from asset sales are related to transactions that occurred during 1997, 1998 and 2003. The 1997 and 1998 notes receivable provide collateral for LP’s limited recourse notes payable and the 2003 notes receivable provide collateral for LP’s non-recourse notes payable (see Note 13). LP monitors the collectability of these notes on a regular basis.

Dollar amounts in millions	Interest  Rate 2015		December 31,
			2015		2014
Notes receivable (secured), maturing 2018, interest rates fixed	7.3	%	$	22.2	$	22.2
Notes receivable (secured), maturing 2018, interest rate variable			410.0		410.0
Total			432.2		432.2
Current portion			—		—
Long-term portion			$	432.2	$	432.2

The weighted average interest rate for all notes receivable from asset sales at December 31, 2015 and 2014 was approximately 1.1% and 0.8%. LP estimates that the fair value of these notes at December 31, 2015 and 2014 was approximately $437 million and $438 million.