OTHER ASSETS, NET

3 Months Ended

Mar. 31, 2012

OTHER ASSETS, NET

OTHER ASSETS, NET

6. OTHER ASSETS, NET

        Other assets, net of accumulated amortization, consisted of the following:

(In thousands)	March 31, 2012		December 31, 2011
Advances for long-term purchase contracts	$	28,249	$	31,154
Investment in joint ventures		5,966		6,419
Deferred financing costs, net		17,904		18,740
Long-term assets held for sale		16,050		14,750
Other		4,239		4,538
Total other assets, net	$	72,408	$	75,601

        The decrease in advances for long-term purchase contracts is the result of amortizing the prepayments over the terms of the related contracts. Assets held for sale include real estate properties in the U.S. In January 2012, we sold our on-site air separation unit for $18.0 million, resulting in a gain of $17.4 million that is included in gain on sale of assets, restructuring expense and other, net, in the condensed consolidated statement of income for the three months ended March 31, 2012. This air separation unit is included in assets held for sale, in the amount of $0.6 million, as of December 31, 2011. This unit can provide all of our Plaquemine, Louisiana facility's oxygen and nitrogen gas requirements. Concurrent with the sale, we entered into a long-term supply agreement with the purchaser to supply these products at market prices.