Affiliated Companies

12 Months Ended

Dec. 31, 2017

Equity Method Investments and Joint Ventures [Abstract]

Affiliated Companies

Affiliated Companies

At December 31, 2017, 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 $69.9 million, $63.0 million and $56.2 million at December 31, 2017, 2016 and 2015, respectively. Dividends received from affiliated companies were $2.2 million in 2017, $1.4 million in 2016 and $0.8 million in 2015.

Our equity in net unrealized gains of Daikyo's investment securities and derivative instruments, as well as pension adjustments, included in accumulated other comprehensive loss was $0.5 million, $5.3 million and $5.4 million at December 31, 2017, 2016 and 2015, respectively.

Our purchases from, and royalty payments made to, affiliates totaled $86.7 million, $94.5 million and $65.8 million, respectively, in 2017, 2016 and 2015, of which $12.4 million and $9.0 million was due and payable as of December 31, 2017 and 2016, 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 $8.1 million, $6.8 million and $5.3 million, respectively, in 2017, 2016 and 2015, of which $1.3 million and $0.9 million was receivable as of December 31, 2017 and 2016, respectively.

At December 31, 2017 and 2016, the aggregate carrying amount of investments in equity-method affiliates was $72.4 million and $69.3 million, respectively. In addition, during 2016, we made an $8.4 million cost-method investment in an intradermal drug delivery company. At December 31, 2017 and 2016, we had cost-method investments, for which fair value was not readily determinable, with a carrying amount of $13.4 million at both period-ends. We test our cost-method investments for impairment whenever circumstances indicate that the carrying value of the investments may not be recoverable.