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RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2015
RELATED PARTY TRANSACTIONS
9. RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 64% and 59% of all inventory purchases made during the quarters ended June 30, 2015 and 2014, respectively. Purchases from Carrier and its affiliates comprised 62% and 60% of all inventory purchases made during the six months ended June 30, 2015 and 2014, respectively. At June 30, 2015 and December 31, 2014, approximately $108,000 and $61,000, respectively, was payable to Carrier and its affiliates, net of receivables. Our joint ventures with Carrier 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, 2015 and 2014 included $21,165, $11,128, $28,904 and $17,663, respectively, of sales to Carrier and its affiliates. We believe these transactions are conducted at arm’s-length in the ordinary course of business.