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Affiliated Companies
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Affiliated Companies Affiliated Companies
At December 31, 2025, the following affiliated companies were accounted for under the equity method:
LocationOwnership interest
The West Company Mexico, S.A. de C.V.Mexico49%
Aluplast, S.A. de C.V.Mexico49%
Pharma Tap, S.A. de C.V.Mexico49%
Pharma Rubber, S.A. de C.V.Mexico49%
Daikyo Seiko, Ltd. ("Daikyo")
Japan49%
The following table summarizes the aggregate carrying amounts of our investments in affiliated companies that are accounted for under the equity method and our investments in affiliated companies that are not accounted for under the equity method as of December 31:
($ in millions)20252024
Aggregate carrying value of investments in affiliated companies:
   Equity method affiliates$208.3 $194.9 
   Non-equity method affiliates4.0 7.2 
Total investments in affiliated companies$212.3 $202.1 
We have elected to record non-equity method investments, for which fair value was not readily determinable, at cost, less impairment, adjusted for subsequent observable price changes. We test these investments for impairment whenever circumstances indicate that the carrying value of the investments may not be recoverable.
The following table summarizes the amounts due to and from affiliates in the consolidated balance sheets as of December 31:
($ in millions)20252024
Payables due to affiliates$26.2 $18.7 
Receivables due from affiliates$2.0 $2.5 
The following table summarizes the Company's affiliate transactions:
(in millions)202520242023
Purchases from (and payments to) affiliates$122.6 $110.0 $142.5 
Sales to affiliates$12.7 $15.3 $11.2 
Unremitted income of affiliates$171.9 $161.4 $148.0 
Dividends received from affiliates$3.9 $1.3 $3.4 
Equity in unrealized gains of Daikyo's investments & derivatives$3.0 $2.4 $2.2 
The majority of the purchase transactions listed above relate to a distributorship agreement with Daikyo that allows us to purchase and re-sell Daikyo products.