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Joint Ventures and Other Equity Investments
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Joint Ventures and Other Equity Investments
11. Joint Ventures and Other Investments:

We participate in three joint ventures. Two are located in the U.S. and the third in Mexico. These three joint ventures are engaged in the manufacturing and distribution of compressors, condensing units, unit and module coolers, heat pumps, ductless heat pump mini-split and Variable Refrigerant Flow system. We exert significant influence over these affiliates based upon our respective 25%, 49.9% and 50% ownership, but do not control them due to venture partner participation. Accordingly, two of these joint ventures have been accounted for under the equity method and the other as a held-to-maturity investment, 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,
20242023
Equity method investments$56.4 $58.4 
Held-to-maturity investment7.9 — 
Total investments$64.3 $58.4 

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,
202420232022
Purchases of compressors from joint venture$173.3 $148.3 $156.2