RELATED PARTY TRANSACTIONS |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 | |||
| RELATED PARTY TRANSACTIONS |
Purchases from Carrier and its affiliates comprised 59 % and 66 % of all inventory purchases made during the quarters ended June 30, 2025 and 2024, respectively. Purchases from Carrier and its affiliates comprised 62% of all inventory purchases made during both the six months ended June 30, 2025 and 2024. At June 30, 2025 and December 31, 2024, approximately $333,000 and $204,000 , respectively, was payable to Carrier and its affiliates, net of receivables. We also sell HVAC products to Carrier and its affiliates. Revenues in our condensed consolidated unaudited statements of income for the quarters and six months ended June 30, 2025 and 2024 included approximately $6,000 , $22,000 , $25,000 , and $40,000 , respectively, of sales to Carrier and its affiliates. We believe these transactions are conducted on terms equivalent to an arm’s-length basis in the ordinary course of business. A member of our Board of Directors is a Senior Chairman of Greenberg Traurig, P.A., which serves as our principal outside counsel for compliance and acquisition-related legal services. During the quarters and six months ended June 30, 2025 and 2024, fees for services performed were $
87 , $126 , $109 and $201 , respectively, and $30 and $32 was payable at June 30, 2025 and December 31, 2024, respectively. |