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Affiliated Companies
12 Months Ended
Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Affiliated Companies
Affiliated Companies

At December 31, 2018, 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 $75.8 million, $69.9 million and $63.0 million at December 31, 2018, 2017 and 2016, respectively. Dividends received from affiliated companies were $1.7 million in 2018, $2.2 million in 2017 and $1.4 million in 2016.

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 $0.4 million, $0.5 million and $5.3 million at December 31, 2018, 2017 and 2016, respectively.

Our purchases from, and royalty payments made to, affiliates totaled $86.3 million, $86.7 million and $94.5 million, respectively, in 2018, 2017 and 2016, of which $12.9 million and $12.4 million was due and payable as of December 31, 2018 and 2017, 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 $9.6 million, $8.1 million and $6.8 million, respectively, in 2018, 2017 and 2016, of which $1.6 million and $1.3 million was receivable as of December 31, 2018 and 2017, respectively.

At December 31, 2018 and 2017, the aggregate carrying amount of our investment in affiliated companies that are accounted for under the equity method was $77.8 million and $72.4 million, respectively. At December 31, 2018 and 2017, the aggregate carrying amount of our investment in affiliated companies that are not accounted for under the equity method was $13.4 million. We have elected to record these investments, for which fair value was not readily determinable, at cost, less impairment, adjusted for subsequent observable price changes. We test these investments for impairment whenever circumstances indicate that the carrying value of the investments may not be recoverable.