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Investments | 6 Months Ended
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Jun. 30, 2011
Investments [Abstract] |
Investments | NOTE 3. INVESTMENTS Investments. Our long-term investment portfolio includes the real estate assets of ALLETE Properties, debt and equity securities consisting primarily of securities held to fund employee benefits and land held-for-sale in Minnesota.
| June 30, | December 31,
Investments | 2011 | 2010
Millions |  |
ALLETE Properties | $92.7 | $94.0
Available-for-sale Securities | 30.5 | 25.2
Other | 5.8 | 6.8
Total Investments | $129.0 | $126.0
| June 30, | December 31,
ALLETE Properties | 2011 | 2010
Millions |  |
Land Held-for-sale Beginning Balance (January 1, 2011 and 2010, respectively) | $86.0 | $74.9
Deeds to Collateralized Property | 1.6 | 9.9
Capitalized Improvements and Other | - | 1.2
Cost of Real Estate Sold | (0.3) | -
Land Held-for-sale Ending Balance | 87.3 | 86.0
Long-Term Finance Receivables (net of allowances of $0.9 and $0.8) | 2.1 | 3.7
Other | 3.3 | 4.3
Total Real Estate Assets | $92.7 | $94.0
Land Held-for-sale. Land held-for-sale is recorded at the lower of cost or fair value as determined by the evaluation of individual land parcels. Land values are reviewed for impairment on a quarterly basis and no impairments were recorded for the quarter ended June 30, 2011 (none in 2010). Long-Term Finance Receivables. As of June 30, 2011, long-term finance receivables were $2.1 million net of allowance ($3.7 million net of allowance as of December 31, 2010). The decrease is primarily the result of the transfer of property back to ALLETE Properties by deed-in-lieu of foreclosure, in satisfaction of amounts previously owed under long-term financing receivables. Long-term finance receivables are collateralized by property sold, accrue interest at market-based rates and are net of an allowance for doubtful accounts.
Long-Term Finance Receivables | Real
Allowance Roll-Forward | Estate
Millions |
Beginning Balance as of December 31, 2010 | $0.8
Additional Reserve | 0.1
Ending Balance as of June 30, 2011 | $0.9

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- Definition Disclosure of long-term investments within our long-term investments portfolio. + Details
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- Details
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