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Joint Ventures and Other Equity Investments | 12 Months Ended
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Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Joint Ventures and Other Equity Investments | 11. Joint Ventures and Other Investments: We participate in three joint ventures. Two are located in the U.S. and the third in Mexico. These three joint ventures are engaged in the manufacturing and distribution of compressors, condensing units, unit and module coolers, heat pumps, ductless heat pump mini-split and Variable Refrigerant Flow system. We exert significant influence over these affiliates based upon our respective 25%, 49.9% and 50% ownership, but do not control them due to venture partner participation. Accordingly, two of these joint ventures have been accounted for under the equity method and the other as a held-to-maturity investment, and their financial position and results of operations are not consolidated. The combined balance of equity method and other investments included in Other assets, net totaled (in millions):
| As of December 31,
| 2024 |  | 2023
Equity method investments | $ | 56.4 |  |  | $ | 58.4 |
Held-to-maturity investment | 7.9 |  |  | — |
Total investments | $ | 64.3 |  |  | $ | 58.4 |
We purchase compressors from one of our U.S. joint ventures for use in certain of our products. The amounts of purchases included in Cost of goods sold in the Consolidated Statements of Operations were as follows (in millions):
| For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Purchases of compressors from joint venture | $ | 173.3 |  |  | $ | 148.3 |  |  | $ | 156.2 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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