This was originally enacted in order to get rid of all the "GOTO" statements in procedures without using flags:
It means "NO BREAK"
for i, value in enumerate(sequence):
if value == target:
break
else: #<-- if we finish the loop and did not encounter break, return -1
return -1
return 1 #<-- if we did encounter break, return 1
You can watch Raymond Hettinger's Pycon talk that mentions the for/else construct here: Transforming Code into Beautiful, Idiomatic Python, http://pyvideo.org/video/1780/transforming-code-into-beautiful-idiomatic-pytho