Question-and-Answer Session
Operator
(Operator Instructions)
Your first audio question comes from the line of Brian Russo, Landenburg Thalmann.
James S. Pignatelli
Good morning, Brian.
Brian Russo - Landenburg Thalmann
Good morning. Just curious, Millennium, can that cash ever be dividend up to the parent company for other uses? Why exactly is it sitting at the subsidiary level?
James S. Pignatelli
I can let Kevin answer more in detail. He just likes to have a extra set of cash sitting around, I think. No that can come up, in fact, we dividend though some earlier, and we will be dividending that up overtime. Do you want to respond to anything further, Kevin?
Kevin Larson
Well, we dividended up maybe about 15?
James S. Pignatelli
It is about $15 million last year to my recollection.
Kevin Larson
I would anticipate actually Brian, that we will dividend some of that up this year.
Brian Russo - Ladenburg Thalmann
And when do you think the remaining investments will be monetized, and should we expect further write-downs or onetime hits on that?
James S. Pignatelli
We have a put on one investment carrying on the books at 14 million. We have a put at 20 million on that, and I think that can be monetized this year. I don't see really much impairment in any of the other possibilities. The one that was impaired which could reflect some additional onetime hit was really an investment that we made in an emerging business fund, emerging technology fund in Tucson. It was really more in the nature of supporting local business development. This was only a $5 million investment and that was what was impaired the two.
So right now, it's probably only about $2 million, $2.5 million left in it. I could see maybe some impairment split in that but it's more than the reason why we made the investment.
It wasn't made to hit a home run or anything. It was made to increase business activity in the community, and we pick up the benefit of that in sales. The rest of them, we will just clean up as we go forward. As I said, we have a 6 million profit locked in one of them that we probably will exercise later this year.
Brian Russo - Ladenburg Thalmann
Okay. And then, on the SO2 allowances and future sales, I know you used those sales to support your cash flow and ultimately capital expenditure and then also I believe in the settlement 50% of the SO2 sales would go against the PPFAC, is there any issues now that SO2 prices have fallen so dramatically?
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