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RELATED PARTY TRANSACTIONS | 9 Months Ended
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Sep. 30, 2023
RELATED PARTY TRANSACTIONS | 11. RELATED PARTY TRANSACTIONS Purchases from Carrier and its affiliates comprised 67% and 63% of all inventory purchases made during the quarters ended September 30, 2023 and 2022, respectively. Purchases from Carrier and its affiliates comprised 65% and 60% of all inventory purchases made during the nine months ended September 30, 2023 and 2022, respectively. At September 30, 2023 and December 31, 2022, approximately $178,000 and $88,000, respectively, was payable to Carrier and its affiliates, net of receivables. We also sell HVAC products to Carrier and its affiliates. Revenues in our condensed consolidated unaudited statements of income for the quarters and nine months ended September 30, 2023 and 2022 included approximately $34,000, $26,000, $88,000, and $76,000, 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 and nine months ended September 30, 2023 and 2022, fees for services performed were $60, $ 40, $131, and $169, respectively, and $ 50 and $ 1 was payable at September 30, 2023 and December 31, 2022, respectively.

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