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OTHER INCOME (EXPENSE)
 9 Months Ended
Sep. 30, 2012
OTHER INCOME (EXPENSE) [Abstract]  
OTHER INCOME (EXPENSE)
OTHER (EXPENSE) INCOME

Other (expense) income, net consisted of the following:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2012
 
2011
 
2012
 
2011
 
(Thousands of Dollars)
(Loss) gain from sale or disposition of assets
$
(19,880
)
 
$
(119
)
 
$
(19,828
)
 
$
117

Contingent loss adjustment
—

 
(3,250
)
 
—

 
(3,250
)
Storage agreement early termination costs
—

 
—

 
—

 
(5,000
)
Foreign exchange (losses) gains
(1,069
)
 
3,059

 
(3,568
)
 
2,483

Other, net
1,009

 
1,077

 
2,012

 
(49
)
Other (expense) income, net
$
(19,940
)
 
$
767

 
$
(21,384
)
 
$
(5,699
)


For the three and nine months ended September 30, 2012, the (loss) gain on sale or disposition of assets included a $21.6 million loss in connection with the deconsolidation of Asphalt JV. See Note 2. Dispositions for additional discussion on the Asphalt Sale.

For the nine months ended September 30, 2011, “Other (expense) income, net” included $5.0 million in costs associated with the early termination of a third-party storage agreement at our Paulsboro, New Jersey asphalt refinery.