Related Party Transactions

12 Months Ended

Dec. 31, 2016

NOTE 10 – RELATED PARTY TRANSACTIONS

We sell installation services to other companies related to us through common or affiliated ownership and/or board of directors and/or management relationships. We also purchase services and materials and pay rent to companies with common or related ownership. For additional information, see Note 11, Commitments and Contingencies.

For the years ended December 31, 2016, 2015 and 2014, the amount of sales to common or related parties as well as the purchases from and rent expense paid to common or related parties were as follows (in thousands):


	Years ended December 31,
	2016		2015		2014
Sales	$	7,914	$	6,720	$	6,026
Purchases		579		480		3,100
Rent		635		598		600

At December 31, 2016 and 2015, we had related party balances of approximately $1.5 million and $1.8 million, respectively, included in accounts receivable on our Consolidated Balance Sheets. These balances primarily represent trade accounts receivable arising during the normal course of business with various related parties. M/I Homes, Inc., a customer whose Chairman, President and Chief Executive Officer is a member of our Board of Directors, accounted for $0.8 million and $1.0 million of these balances as of December 31, 2016 and 2015, respectively.

On March 13, 2015, we entered into a share repurchase agreement with IBS for the purchase of 315 thousand shares of our common stock. Jeff Edwards, our Chief Executive Officer, is the President of IBS and, in such role, has sole voting and dispositive power over the shares held by IBS and is deemed the beneficial owner of the shares of our common stock held by IBS. For additional information, see Note 7, Stockholders’ Equity.

As a result of our acquisition of TCI Contracting, LLC (“TCI”) in 2012, one of our existing suppliers became classified as a related party until a change in ownership of the supplier resulted in an end to related party classification during 2014. While still classified as a related party to us, purchases made from this supplier during the year ended December 31, 2014 were approximately $2.6 million and is included in total related party purchases in the preceding table.