FairPoint Communications 2004 Annual Report Download - page 99

The Company's noncurrent investments at December 31, 2004 and 2003 consist of the following:
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Equity method investments in cellular companies and partnerships:
Orange County—Poughkeepsie Limited Partnership $3,590 5,116
Chouteau Cellular Telephone Company 72 2,973
Illinois Valley Cellular RSA 2, Inc. 2,037 1,822
Other equity method investments 1,132 1,037
Investments in securities carried at cost:
RTB stock 20,125 20,125
CoBank stock and unpaid deferred CoBank patronage 5,221 5,136
RTFC secured certificates and unpaid deferred RTFC patronage 419 478
Cellular companies 4,552 4,552
Other nonmarketable minority equity investments 33 42
Nonqualified deferred compensation plan assets 568 511
Total investments $37,749 41,792
(b) Equity Method Investments
The Company records its share of the earnings or losses of the investments accounted for under the equity method on a
three-month lag. The investments accounted for under the equity method and the Company's ownership percentage as of
December 31, 2004 and 2003 are summarized below:
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Chouteau Cellular Telephone Company 33.7%33.7%
ILLINET Communications, LLC 9.1%9.1%
Orange County—Poughkeepsie Limited Partnership 7.5%7.5%
ILLINET Communications of Central IL LLC 5.2%5.2%
Syringa Networks, LLC 13.9%13.9%
Illinois Valley Cellular RSA 2, Inc. 25.0%25.0%
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