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Affiliated Companies | 12 Months Ended
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Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract] |
Affiliated Companies | Affiliated Companies At December 31, 2016, the following affiliated companies were accounted for under the equity method:
| Location | Ownership interest
The West Company Mexico, S.A. de C.V. | Mexico | 49%
Aluplast S.A. de C.V. | Mexico | 49%
Pharma Tap S.A. de C.V. | Mexico | 49%
Pharma Rubber S.A. de C.V. | Mexico | 49%
Daikyo | Japan | 25%
Unremitted income of affiliated companies included in consolidated retained earnings amounted to $63.0 million, $56.2 million and $51.2 million at December 31, 2016, 2015 and 2014, respectively. Dividends received from affiliated companies were $1.4 million in 2016, $0.8 million in 2015 and $0.8 million in 2014. Our equity in net unrealized gains of Daikyo's investment securities and derivative instruments, as well as pension adjustments, included in accumulated other comprehensive loss was $(5.3) million, $(5.4) million and $(4.7) million at December 31, 2016, 2015 and 2014, respectively. Our purchases from, and royalty payments made to, affiliates totaled $94.5 million, $65.8 million and $68.9 million, respectively, in 2016, 2015 and 2014, of which $9.0 million and $10.1 million was due and payable as of December 31, 2016 and 2015, respectively. The majority of these transactions related to a distributorship agreement with Daikyo that allows us to purchase and re-sell Daikyo products. Sales to affiliates were $6.8 million, $5.3 million and $5.1 million, respectively, in 2016, 2015 and 2014, of which $0.9 million and $0.5 million was receivable as of December 31, 2016 and 2015, respectively. At December 31, 2016 and 2015, the aggregate carrying amount of investments in equity-method affiliates was $69.3 million and $56.3 million, respectively. In addition, during 2016, we made an $8.4 million cost-method investment in an intradermal drug delivery company. At December 31, 2016 and 2015, we had cost-method investments, for which fair value was not readily determinable, with a carrying amount of $13.4 million and $5.0 million, respectively. We test our cost-method investments for impairment whenever circumstances indicate that the carrying value of the investments may not be recoverable.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66011266&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=64825282&loc=d3e32787-111569 + Details
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