RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2020

13.	RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 63% of all inventory purchases made during

both

the quarters ended June 30, 2020 and 2019

Purchases from Carrier and its affiliates comprised 60% and 62% of all inventory purchases made during the six months ended June 30, 2020 and 2019, respectively. At June 30, 2020 and December 31, 2019, approximately $139,000 and $86,000, 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, 2020 and 2019 included approximately $33,000, $23,000, $55,000, and $44,000, 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.