RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2021

9.	RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 61% and 57% of all inventory purchases made during the quarters ended March 31, 2021 and 2020, respectively. At March 31, 2021 and December 31, 2020, approximately $140,000 and $81,000, respectively, was payable to Carrier and its affiliates, net of receivables.

also sell HVAC products to Carrier and its affiliates. Revenues in our condensed consolidated unaudited statements of income for the quarters ended March 31, 2021 and 2020 included approximately $23,000 and $22,000, 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 for compliance and acquisition-related legal services. During the quarters ended March 31, 2021 and 2020, fees to this firm for services performed were $

and $

, respectively. At March 31, 2021 and December 31, 2020, $

and $

, respectively, was payable to this firm.