ALE » Topics » Investments.

These excerpts taken from the ALE 10-K filed Feb 13, 2009.
Investments. The majority of our emerging technology investments are minority investments in venture capital funds. We account for our investment in venture capital funds under the equity method of accounting. The total carrying value of our emerging technology portfolio was $7.4 million at December 31, 2008. (See Note 6. Investments.) Our remaining commitment of $0.7 million at December 31, 2008 may be invested in 2009. We do not have plans to make any additional investments beyond this commitment.

Environmental Matters

Our businesses are subject to regulation of environmental matters by various federal, state and local authorities. We consider our businesses to be in substantial compliance with currently applicable environmental regulations and believe all necessary permits to conduct such operations have been obtained. Due to future stricter environmental requirements through legislation and/or rulemaking, we anticipate that potential expenditures for environmental matters will be material and will require significant capital investments. (See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Capital Requirements.)

We review environmental matters for disclosure on a quarterly basis. Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. These accruals are adjusted periodically as assessment and remediation efforts progress, or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the balance sheet at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. Costs related to environmental contamination treatment and cleanup are charged to expense unless recoverable in rates from customers.

Investments. The majority of
our emerging technology investments are minority investments in venture capital
funds. We account for our investment in venture capital funds under the equity
method of accounting. The total carrying value of our emerging technology
portfolio was $7.4 million at December 31, 2008. (See Note 6.
Investments.) Our remaining commitment of $0.7 million at December 31,
2008 may be invested in 2009. We do not have plans to make any additional
investments beyond this commitment.



Environmental
Matters



Our
businesses are subject to regulation of environmental matters by various
federal, state and local authorities. We consider our businesses to be in
substantial compliance with currently applicable environmental regulations and
believe all necessary permits to conduct such operations have been obtained. Due
to future stricter environmental requirements through legislation and/or
rulemaking, we anticipate that potential expenditures for environmental matters
will be material and will require significant capital investments. (See Item
7. Management’s Discussion and Analysis of Financial Condition and Results
of Operations – Capital Requirements.)



We review
environmental matters for disclosure on a quarterly basis. Accruals for
environmental matters are recorded when it is probable that a liability has been
incurred and the amount of the liability can be reasonably estimated, based on
current law and existing technologies. These accruals are adjusted periodically
as assessment and remediation efforts progress, or as additional technical or
legal information becomes available. Accruals for environmental liabilities are
included in the balance sheet at undiscounted amounts and exclude claims for
recoveries from insurance or other third parties. Costs related to environmental
contamination treatment and cleanup are charged to expense unless recoverable in
rates from customers.



Investments. The majority of our emerging technology investments are minority investments in venture capital funds. We account for our investment in venture capital funds under the equity method of accounting. The total carrying value of our emerging technology portfolio was $7.4 million at December 31, 2008. Our remaining commitment of $0.7 million at December 31, 2008 may be invested in 2009. We do not have plans to make any additional investments beyond this commitment. Based on our impairment analysis, we did not record any impairment in 2008 ($0.5 million in 2007, none in 2006).

Investments. The majority of our emerging
technology investments are minority investments in venture capital funds. We
account for our investment in venture capital funds under the equity method of
accounting. The total carrying value of our emerging technology portfolio was
$7.4 million at December 31, 2008. Our remaining commitment of $0.7 million
at December 31, 2008 may be invested in 2009. We do not have plans to make any
additional investments beyond this commitment. Based on our impairment analysis,
we did not record any impairment in 2008 ($0.5 million in 2007, none in
2006).



EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 13, 2009
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