7. OTHER ASSETS, NET

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

	December 31,

*(In thousands)*	2012		2011
Advances for long-term purchase contracts	$	19,406	$	31,154
Investment in joint ventures		6,051		6,419
Deferred financing costs, net		16,308		18,740
Long-term assets held for sale		13,829		14,750
Other		7,992		8,308

Total other assets, net	$	63,586	$	79,371

The decrease in advances for long-term purchase contracts is the result of amortizing the prepayments usage over the terms of the related contracts. Deferred financing costs amortized as interest expense during 2012, 2011 and 2010 were $3.6 million, $3.6 million and $4.3 million, respectively. Long-term 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 million, resulting in a gain of $17.4 million that is included in the gain on sale of assets in the Consolidated Statements of Income for the year ended December 31, 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 the Plaquemine facility with the products made by the air separation unit at market prices.