RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2019

11.	RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 61% and

62%

of all inventory purchases made during the quarters ended March 31, 2019 and 2018, respectively. At March 31, 2019 and December 31, 2018, approximately

$101,000 and $71,000, 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 ended March 31, 2019 and 2018 included approximately $21,000 and $16,000, 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 the Senior Chairman of Greenberg Traurig, P.A., which serves as our principal outside counsel and receives customary fees for legal services. During the quarters ended March 31, 2019 and 2018, we paid this firm $0 and $4, respectively, for services performed, and no amount was payable at both March 31, 2019 and December 31, 2018.

A member of our Board of Directors is the Chairman and Chief Executive Officer of Moss & Associates LLC, which served as general contractor for the remodeling of our Miami headquarters that was completed in 2018. We paid Moss & Associates LLC $53 for construction services performed during the quarter ended March 31, 2018.