OTHER ASSETS, NET

6 Months Ended

Jun. 30, 2012

OTHER ASSETS, NET

OTHER ASSETS, NET

6. OTHER ASSETS, NET

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

(In thousands)	June 30, 2012		December 31, 2011
Advances for long-term purchase contracts	$	25,376	$	31,154
Investment in joint ventures		5,679		6,419
Deferred financing costs, net		16,925		18,740
Long-term assets held for sale		14,070		14,750
Other		4,385		4,538
Total other assets, net	$	66,435	$	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 at our Plaquemine, Louisiana facility for $18.0 million, resulting in a gain of $17.4 million that is included in gain on sale of assets in the condensed consolidated statement of income for the six months ended June 30, 2012. This air separation unit was included in assets held for sale, in the amount of $0.6 million, as of December 31, 2011. Concurrent with the sale, we entered into a long-term supply agreement with the purchaser to supply these products at market prices.