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Notes Receivable from Asset Sales | 12 Months Ended
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Dec. 31, 2011
Notes Receivable From Asset Sales [Abstract] |
Notes Receivables From Asset Sales [Text Block] |
6. | 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 2011 | December 31,
2011 |  | 2010
Notes receivable (unsecured), maturing 2012, interest rates fixed | 5.6 | % | $ | 9.9 |  |  | $ | 9.9 |
Notes receivable (secured), maturing 2013-2018, interest rates fixed | 7.1 – 7.3% |  | 113.6 |  |  | 113.6 |
Notes receivable (secured), maturing 2018, interest rate variable |  | 410.0 |  |  | 410.0 |
Total |  | 533.5 |  |  | 533.5 |
Current portion |  | 10.0 |  |  | — |
Long-term portion |  | $ | 523.5 |  |  | $ | 533.5 |
The weighted average interest rate for all notes receivable from asset sales at December 31, 2011 and 2010 was approximately 2.1% and 2.1%. The notes mature as follows:
Dollar amounts in millions |
Year ended December 31, |
2012 | $ | 10.0 |
2013 | 91.4 |
2014 | — |
2015 | — |
2016 | — |
2017 and after | 432.1 |
Total | $ | 533.5 |
LP estimates that the fair value of these notes at December 31, 2011 and 2010 was approximately $543.3 million and $548.7 million.

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