Notes Receivable from Asset Sales (Tables)

9 Months Ended

Sep. 30, 2016

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Receivables consist of the following:

Dollar amounts in millions	September 30, 2016			December 31, 2015
Trade receivables	$	127.6		$	82.6
Income tax receivable	3.6			2.0
Other receivables	7.9			12.8
Allowance for doubtful accounts	(1.1		)	(1.0		)
Total	$	138.0		$	96.4

NOTE 7 – 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 9). LP monitors the collectability of these notes on a regular basis.

Dollar amounts in millions	Interest  Rate 2016		September 30, 2016		December 31, 2015
Notes receivable (secured), maturing 2018, interest rates fixed	7.3	%	22.2		22.2
Notes receivable (secured), maturing 2018 (accelerated for collection 2016), interest rates variable			410.0		410.0
Total			432.2		432.2
Current portion			410.0		—
Long-term portion			$	22.2	$	432.2

In August 2016, LP entered into agreements with the issuers of the $410.0 million notes receivable maturing in 2018 to provide for the acceleration of the collection of these notes to November 2016. This acceleration will also result in the acceleration of LP's payment of the related notes payable (see Note 9).