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Investments

6 Months Ended

Jun. 30, 2011

Investments

7. Investments


		Knight Hawk			DKRW			DTA			Tenaska			Millennium			Total
		(In thousands)
Balance at December 31, 2010		$	131,250		$	21,961		$	14,472		$	9,768		$	—		$	177,451
Investments in affiliates		—			—			2,910			5,500			25,570			33,980
Advances to (distributions from) affiliates, net		(9,591		)	—			—			—			—			(9,591		)
Equity in comprehensive income (loss)		9,981			(1,079		)	(2,207		)	(2		)	(887		)	5,806
Balance at June 30, 2011		$	131,640		$	20,882		$	15,175		$	15,266		$	24,683		$	207,646

Notes receivable from investees:
Balance at December 31, 2010		$	1,700		$	18,100		$	—		$	4,100		$	—		$	23,900
Balance at June 30, 2011		—			24,700			—			4,600			—			29,300

In January 2011, the Company purchased a 38% ownership interest in Millennium Bulk Terminals-Longview, LLC ("Millennium"), the owner of a brownfield bulk commodity terminal on the Columbia River near Longview, Washington, for $25.0 million, plus additional future consideration upon the completion of certain project milestones. Millennium continues to work on obtaining the required approvals and necessary permits to complete dredging and other upgrades to enable coal, alumina and cementitious material shipments through the terminal. The Company will control 38% of the terminal's throughput and storage capacity, in order to facilitate export shipments of coal off the west coast of the United States.

The Company may be required to make future contingent payments of up to $70.9 million related to development financing for certain of its equity investees. The Company's obligation to make these payments, as well as the timing of any payments required, is contingent upon a number of factors, including project development progress, receipt of permits and construction financing.

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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