5. Other Assets

Other assets consist of the following at December 31:


	2011							2010							Weighted Average Life
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net		Weighted Average Life
Intangible assets:
Technology licenses	$	44,827	$	(40,860	)	$	3,967	$	44,762	$	(39,763	)	$	4,999		12
Patents		6,503		(3,306	)		3,197		6,503		(2,655	)		3,848		10
Customer relationships		17,649		(6,901	)		10,748		17,649		(5,544	)		12,105		13
Goodwill		29,990		—			29,990		29,990		—			29,990
Other		1,161		—			1,161		1,161		—			1,161

Total intangible assets		100,130		(51,067	)		49,063		100,065		(47,962	)		52,103
Available-for-sale investments		30,113		—			30,113		—		—			—
Notes receivable from affiliate		2,383		—			2,383		3,575		—			3,575
Turnaround costs		86,728		(57,175	)		29,553		85,307		(49,864	)		35,443		5
Debt issuance costs		20,628		(8,989	)		11,639		17,930		(7,307	)		10,623		10
Other, net		22,502		(9,678	)		12,824		19,444		(9,940	)		9,504		5

Other assets, net	$	262,484	$	(126,909	)	$	135,575	$	226,321	$	(115,073	)	$	111,248

Amortization expense on other assets of $22,812, $25,142 and $24,327 is included in the consolidated statements of operations for the years ended December 31, 2011, 2010 and 2009, respectively.

Scheduled amortization of intangible assets for the next five years is as follows: $3,292, $3,246, $2,707, $2,707 and $2,653 in 2012, 2013, 2014, 2015 and 2016, respectively.

Goodwill

The annual impairment test for the recorded goodwill was performed as of October 31, 2011. The Company's impairment test indicated that its goodwill was not impaired. The fair value of the Olefins segment, the reporting unit assessed, was calculated using both a discounted cash flow methodology and a market value methodology. The discounted cash flow projections were based on a nine-year forecast, from 2012 to 2020, to reflect the cyclicality of the Company's olefins business. The forecast was based on (1) prices and spreads projected by IHS Chemical, a chemical industry organization offering market and business advisory services for the chemical market, for the same period, and (2) estimates by management, including our strategic and operational plans. Other significant assumptions used in the discounted cash flow projection included sales volumes based on current capacities. The future cash flows were discounted to present value using a discount rate of 8.8%.

The significant assumptions used in determining the fair value of the reporting unit using the market value methodology include the determination of appropriate market comparables and the estimated multiples of EBITDA a willing buyer is likely to pay.

Under the discounted cash flow methodology, even if the fair value of the Olefins segment decreased by 20%, the carrying value of the Olefins segment would not exceed its fair value.

Available-for-sale Investments

The cost, gross unrealized gains, gross unrealized losses and fair value of the Company's available-for-sale investments were as follows:


	December 31, 2011
	Cost		Gross Unrealized Gains		Gross Unrealized Losses ⁽¹⁾			Fair Value
Available-for-sale equity securities	$	28,265	$	1,981	$	(133	)	$	30,113

(1)	All unrealized loss positions were held at a loss for less than 12 months.

Because the Company does not intend to sell, nor is it likely to be required to sell, its available-for-sale securities, declines in fair value are considered temporary. The Company regularly evaluates available evidence to determine if its investments are other-than-temporarily impaired. The Company considers the evidence to support the recovery of the cost basis of a security including volatility of the stock, the length of time the security has been in a loss position, value and growth expectations and overall market and sector fundamentals, in determining whether unrealized losses represent an other-than-temporary impairment.

As the fair value of the equity securities was higher than cost at December 31, 2011, an unrealized gain of $1,185, net of income tax expense of $663, was recorded in accumulated other comprehensive income. See Note 11 for the fair value hierarchy of the Company's available-for-sale securities.