Affiliated Companies

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Affiliated Companies

Affiliated Companies

At December 31, 2013, the following affiliated companies were accounted for under the equity method:

	Location	Ownership interest
The West Company Mexico, S.A. de C.V.	Mexico	49%
Aluplast S.A. de C.V.	Mexico	49%
Pharma Tap S.A. de C.V.	Mexico	49%
Pharma Rubber S.A. de C.V.	Mexico	49%
Daikyo	Japan	25%

Unremitted income of affiliated companies included in consolidated retained earnings amounted to $46.7 million, $41.9 million and $37.5 million at December 31, 2013, 2012 and 2011, respectively. Dividends received from affiliated companies were $0.6 million in 2013, $0.4 million in 2012 and $0.3 million in 2011.

Our equity in unrealized gains of Daikyo's investment in securities available-for-sale and derivative instruments, as well as pension adjustments included in accumulated other comprehensive loss was $(4.3) million, $(0.8) million and $(0.4) million at December 31, 2013, 2012 and 2011, respectively.

Our purchases from, and royalty payments made to, affiliates totaled $67.7 million, $75.2 million and $66.4 million, respectively, in 2013, 2012 and 2011, of which $5.6 million and $10.6 million was due and payable as of December 31, 2013 and 2012, respectively. The majority of these transactions related to a distributorship agreement with Daikyo that allows us to purchase and re-sell Daikyo products. Sales to affiliates were $5.9 million, $3.5 million and $4.5 million, respectively, in 2013, 2012 and 2011, of which $0.3 million and $0.6 million was receivable as of December 31, 2013 and 2012, respectively.

At December 31, 2013 and 2012, the aggregate carrying amount of investments in equity method affiliates was $57.9 million and $59.8 million, respectively. In addition, at December 31, 2013, we have a cost-basis investment with a carrying amount of $3.0 million.