Notes Receivable from Asset Sales

12 Months Ended

Dec. 31, 2016

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 12). LP monitors the collectability of these notes on a regular basis.

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

The weighted average interest rate for notes receivable from asset sales at December 31, 2016 and December 31, 2015 was 7.3% and 1.1%. LP estimates that the fair value of these notes at December 31, 2016 and December 31, 2015 was approximately $23 million and $437 million.