Investments

12 Months Ended

Dec. 31, 2015

Investments [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

INVESTMENTS

Long-term investments held by LP are debt securities designated as available for sale and are reported at fair market value using the specific identification method. The following table summarizes unrealized gains and losses related to these investments as of December 31, 2015 and December 31, 2014:

Dollar amounts in millions	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2015
Auction rate securities	$	0.4	$	5.4	$	—	$	5.8
Total marketable securities	$	0.4	$	5.4	$	—	$	5.8
December 31, 2014
Auction rate securities	$	0.3	$	4.3	$	—	$	4.6
Total marketable securities	$	0.3	$	4.3	$	—	$	4.6

As of December 31, 2015, LP had $5.8 million ($23.4 million, par value) invested in auction rate securities (ARS). The ARS held by LP are securities with long-term nominal maturities for which the interest rates may be reset through a Dutch auction each month. LP’s investments in ARS represent interests in collateralized debt obligations supported by pools of residential and commercial mortgages and other securities.

LP reviews its marketable securities routinely for other-than-temporary impairment. The primary factors LP used to determine if an impairment charge must be recorded, because a decline in value of the security is other than temporary, include (i) whether the fair value of the investment is significantly below its cost basis, (ii) the financial condition of the issuer of the security (including its credit rating) and the underlying collateral, (iii) the length of time that the cost of the security has exceeded its fair value and (iv) LP’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value.

The contractual maturities of debt securities classified as available for sale at December 31, 2015 were as follows:

Dollar amounts in millions	2015
	Amortized Cost		Fair Value
Due in one year or less	$	—	$	—
Due in more than one year	0.4		5.8
Total marketable securities	$	0.4	$	5.8

There were no purchases of short-term and long-term investments for the years ended December 31, 2015 and 2014. During 2015 and 2014, LP did not own any short-term investments.