8.	Other Assets

	December 31,
	2015		2014
	(In thousands)
Equity in joint ventures	$	20,622	$	20,004
Deferred compensation		10,675		9,811
Long term receivables		4,215		6,513
Deferred financing costs, net		1,267		1,570
Other		659		691
Total other assets, net	$	37,438	$	38,589

Deferred compensation consists of assets held in a nonqualified defined contribution pension plan as of December 31, 2015 and 2014, respectively.

Equity Method Investments

In April 2014, we formed a 50/50 joint venture with Gwo Yng Enterprise Co., Ltd. (“Gwo Yng”), a China-based manufacturer of air conditioner accumulators, filter driers, hose assemblies and switches for the automotive aftermarket and OEM/OES markets. We acquired our 50% interest in the joint venture for $14 million. We determined that due to a lack of a voting majority and other qualitative factors, we do not control the operations of the joint venture and accordingly, our investment in the joint venture is accounted for under the equity method of accounting. During the years ended December 31, 2015 and 2014, we made purchases from Gwo Yng of approximately $15 million and $8.6 million, respectively.

In January 2013, we acquired an approximate 25% minority interest in Orange Electronic Co., Ltd. (“Orange”) for $6.3 million. Orange is a manufacturer of tire pressure monitoring system sensors and is located in Taiwan. Our minority interest in Orange is accounted for using the equity method of accounting. During the years ended December 31, 2015 and 2014, we made purchases from Orange of approximately $4.4 million and $4.7 million, respectively.