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Joint Ventures and Other Equity Investments
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Joint Ventures and Other Equity Investments
11. Joint Ventures and Other Investments:

We participate in four joint ventures. Three are located in the U.S. and the fourth in Mexico. These four joint ventures are engaged in the manufacturing and distribution of compressors, condensing units, unit and module coolers, heat pumps, ductless heat pump mini-split, Variable Refrigerant Flow systems, and water heaters. We exert significant influence over these affiliates based upon our respective 25%, 49.9%, 49.9% and 50% ownership, but do not control them due to venture partner participation. Accordingly, our joint ventures have been accounted for under the equity method and held-to-maturity investments, and their financial position and results of operations are not consolidated.
The combined balance of equity method and other investments included in Other assets, net totaled (in millions):
As of December 31,
20252024
Equity method investments$59.7 $56.4 
Held-to-maturity investment7.9 7.9 
Total investments$67.6 $64.3 

We purchase compressors from one of our U.S. joint ventures for use in certain of our products. The amounts of purchases included in Cost of goods sold in the Consolidated Statements of Operations were as follows (in millions):
For the Years Ended December 31,
202520242023
Purchases of compressors from joint venture$148.8 $173.3 $148.3