Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events

Subsequent Events

(P)

Subsequent Events.    In December 1996 and January 1997, we entered into six long-term lease transactions relating to our 74.61% undivided interest in Rocky Mountain. In each transaction, we leased a portion of our undivided interest in Rocky Mountain to six separate owner trusts for the benefit of three investors for a term equal to 120% of the estimated useful life of Rocky Mountain.

• On July 12, 2012, we terminated three of the six lease transactions prior to the end of their lease terms. These three leases were each owned by a separate owner trust for the benefit of one of the three investors, representing approximately 69% of the original six lease transactions. In connection with the termination, we incurred termination costs of approximately $17,200,000 and recognized $31,900,000 of the deferred net benefit associated with the terminated leases, resulting in a net gain on termination of $14,700,000 which we recognized in income in July 2012. The termination of these leases also results in a $94,500,000 decrease in the Deposit on Rocky Mountain transactions and Obligation under Rocky Mountain transactions from the amounts reflected in our unaudited condensed balance sheet at June 30, 2012.
  

  For a more detailed discussion of the Rocky Mountain lease transactions, see Note 2 to "Item 8—FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA—Notes to Consolidated Financial Statements" in our 2011 on Form 10-K.