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Equity method investments
3 Months Ended
Mar. 31, 2012
Equity Method Investments and Joint Ventures [Abstract]  
Equity method investments
Equity method investments
Investments in companies in which the Company has the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. The Company's equity method investments at March 31, 2012, include ECTE.

In August 2006, MDU Brasil acquired ownership interests in the Brazilian Transmission Lines. The electric transmission lines are primarily in northeastern and southern Brazil. The transmission contracts provide for revenues denominated in the Brazilian Real, annual inflation adjustments and change in tax law adjustments. The functional currency for the Brazilian Transmission Lines is the Brazilian Real.

In 2009, multiple sales agreements were signed for the Company to sell its ownership interest in the Brazilian Transmission Lines. In November 2010, the Company completed the sale of its entire ownership interest in ENTE and ERTE and 59.96 percent of the Company's ownership interest in ECTE. The remaining interest in ECTE is being purchased over a four-year period. In November 2011, the Company completed the sale of one-fourth of the remaining interest. Alusa, CEMIG and CELESC hold the remaining ownership interests in ECTE.

At March 31, 2012 and 2011, and December 31, 2011, the Company's equity method investments had total assets of $105.3 million, $108.2 million and $111.1 million, respectively, and long-term debt of $35.9 million, $46.3 million and $37.1 million, respectively. The Company's investment in its equity method investments was approximately $8.2 million, $11.7 million and $9.2 million, including undistributed earnings of $2.2 million, $2.4 million and $3.7 million, at March 31, 2012 and 2011, and December 31, 2011, respectively.