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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Mar. 31, 2018
Disclosure of related party transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY RELATIONSHIPS The following tables include principal investments which, in aggregate, significantly impact the results or assets of the Company: Investments in subsidiaries consolidated in the Company’s financial statements:
|  |  | % equity |  |  | % equity |
|  |  |  | interest |  |  | interest |
Name |  | Country of incorporation |  | 2018 |  |  | 2017 |
AACE Vietnam Limited Liability Company(1) |  | Vietnam |  | 100.0 | % |  | 50.0 | %
CAE Kuala Lumpur Sdn Bhd(1) |  | Malaysia |  | 100.0 | % |  | 50.0 | %
Asian Aviation Centre of Excellence (Singapore) Pte Ltd(1) |  | Singapore |  | 100.0 | % |  | 50.0 | %
CAE (UK) plc |  | United Kingdom |  | 100.0 | % |  | 100.0 | %
CAE (US) Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Aircrew Training Services plc |  | United Kingdom |  | 76.5 | % |  | 76.5 | %
CAE Australia Pty Ltd. |  | Australia |  | 100.0 | % |  | 100.0 | %
CAE Aviation Services Pte Ltd. |  | Singapore |  | 100.0 | % |  | 100.0 | %
CAE Aviation Training B.V. |  | Netherlands |  | 100.0 | % |  | 100.0 | %
CAE Aviation Training Chile Limitada |  | Chile |  | 100.0 | % |  | 100.0 | %
CAE Aviation Training Peru S.A. |  | Peru |  | 100.0 | % |  | 100.0 | %
CAE Brunei Multi Purpose Training Centre Sdn Bhd |  | Brunei |  | 60.0 | % |  | 60.0 | %
CAE Center Amsterdam B.V. |  | Netherlands |  | 100.0 | % |  | 100.0 | %
CAE Center Brussels N.V. |  | Belgium |  | 100.0 | % |  | 100.0 | %
CAE Centre Copenhagen A/S |  | Denmark |  | 100.0 | % |  | 100.0 | %
CAE Centre Hong Kong Limited |  | Hong Kong |  | 100.0 | % |  | 100.0 | %
CAE Centre Oslo AS |  | Norway |  | 100.0 | % |  | 100.0 | %
CAE Centre Stockholm AB |  | Sweden |  | 100.0 | % |  | 100.0 | %
CAE CFT B.V. |  | Netherlands |  | 100.0 | % |  | 100.0 | %
Investments in subsidiaries consolidated in the Company’s financial statements (continued):
|  |  | % equity |  |  | % equity |
|  |  |  | interest |  |  | interest |
Name |  | Country of incorporation |  | 2018 |  | 2017
CAE CFT Korea Ltd. |  | Korea |  | 100.0 | % |  | 100.0 | %
CAE Civil Aviation Training Solutions, Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Electronik GmbH |  | Germany |  | 100.0 | % |  | 100.0 | %
CAE Euroco S.à r.l. |  | Luxembourg |  | — |  |  | 100.0 | %
CAE Flight & Simulator Services Sdn. Bhd. |  | Malaysia |  | 100.0 | % |  | 100.0 | %
CAE Flight Training Center Mexico, S.A. de C.V. |  | Mexico |  | 100.0 | % |  | 100.0 | %
CAE Global Academy Évora, SA |  | Portugal |  | 100.0 | % |  | 100.0 | %
CAE Healthcare Canada Inc. |  | Canada |  | 100.0 | % |  | 100.0 | %
CAE Healthcare, Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Holdings Limited |  | United Kingdom |  | 100.0 | % |  | 100.0 | %
CAE India Private Limited |  | India |  | 100.0 | % |  | 100.0 | %
CAE Integrated Enterprise Solutions Australia Pty Ltd. |  | Australia |  | 100.0 | % |  | 100.0 | %
CAE International Holdings Limited |  | Canada |  | 100.0 | % |  | 100.0 | %
CAE Luxembourg Acquisition S.à r.l. |  | Luxembourg |  | 100.0 | % |  | 100.0 | %
CAE Luxembourg Financing S.à r.l. |  | Luxembourg |  | — |  |  | 100.0 | %
CAE Maritime Middle East LLC |  | United Arab Emirates |  | 49.0 | % |  | 49.0 | %
CAE Middle East L.L.C. |  | United Arab Emirates |  | 49.0 | % |  | 49.0 | %
CAE Military Aviation Training Inc. |  | Canada |  | 100.0 | % |  | 100.0 | %
CAE New Zealand Pty Ltd. |  | New Zealand |  | 100.0 | % |  | 100.0 | %
CAE North East Training Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Oxford Aviation Academy Amsterdam B.V. |  | Netherlands |  | 100.0 | % |  | 100.0 | %
CAE Oxford Aviation Academy Phoenix Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Services Italia S.r.l. |  | Italy |  | 100.0 | % |  | 100.0 | %
CAE Servicios Globales de Instrucción de Vuelo (España), S.L. |  | Spain |  | 100.0 | % |  | 100.0 | %
CAE Shanghai Company, Limited |  | China |  | 100.0 | % |  | 100.0 | %
CAE SimuFlite Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Simulation Technologies Private Limited |  | India |  | 100.0 | % |  | 100.0 | %
CAE Simulator Services Inc. |  | Canada |  | 100.0 | % |  | 100.0 | %
CAE Singapore (S.E.A.) Pte Ltd. |  | Singapore |  | 100.0 | % |  | 100.0 | %
CAE South America Flight Training do Brasil Ltda. |  | Brazil |  | 100.0 | % |  | 100.0 | %
CAE STS Limited |  | United Kingdom |  | 100.0 | % |  | 100.0 | %
CAE Training & Services Brussels NV |  | Belgium |  | 100.0 | % |  | 100.0 | %
CAE Training & Services UK Ltd. |  | United Kingdom |  | 100.0 | % |  | 100.0 | %
CAE Training Norway AS |  | Norway |  | 100.0 | % |  | 100.0 | %
CAE USA Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
CAE Verwaltungsgesellschaft mbH |  | Germany |  | 100.0 | % |  | 100.0 | %
Flight Simulator-Capital L.P. |  | Canada |  | — |  |  | 100.0 | %
Oxford Aviation Academy (Oxford) Limited |  | United Kingdom |  | 100.0 | % |  | 100.0 | %
Parc Aviation Limited |  | Ireland |  | 100.0 | % |  | 100.0 | %
Parc Aviation Engineering Services Ltd |  | Ireland |  | 100.0 | % |  | 100.0 | %
Parc Aviation UK Ltd |  | United Kingdom |  | 100.0 | % |  | 100.0 | %
Parc Interim Limited |  | Ireland |  | 100.0 | % |  | 100.0 | %
Presagis Canada Inc. |  | Canada |  | 100.0 | % |  | 100.0 | %
Presagis Europe (S.A.) |  | France |  | 100.0 | % |  | 100.0 | %
Presagis USA Inc. |  | United States |  | 100.0 | % |  | 100.0 | %
Servicios de Instrucción de Vuelo, S.L. |  | Spain |  | 80.0 | % |  | 80.0 | %
SIM-Industries Brasil Administracao de Centros de Treinamento Ltda. |  | Brazil |  | 100.0 | % |  | 100.0 | %
SIV Ops Training, S.L. |  | Spain |  | 80.0 | % |  | 80.0 | %
(1)These entities became subsidiaries during the third quarter of fiscal 2018 (Note 3). Investments in joint ventures accounted for under the equity method:
|  |  | % equity |  |  | % equity |
|  |  |  | interest |  |  | interest |
Name |  | Country of incorporation |  | 2018 |  |  | 2017 |
Aviation Training Northeast Asia B.V. |  | Netherlands |  | 50.0 | % |  | 50.0 | %
CAE Flight and Simulator Services Korea, Ltd. |  | Korea |  | 50.0 | % |  | 50.0 | %
CAE Flight Training (India) Private Limited |  | India |  | 50.0 | % |  | 50.0 | %
CAE-LIDER Training do Brasil Ltda. |  | Brazil |  | 50.0 | % |  | 50.0 | %
CAE Melbourne Flight Training Pty Ltd. |  | Australia |  | 50.0 | % |  | 50.0 | %
China Southern West Australia Flying College Pty Ltd. |  | Australia |  | 47.1 | % |  | 47.1 | %
Embraer CAE Training Services, LLC |  | United States |  | 49.0 | % |  | 49.0 | %
Emirates-CAE Flight Training LLC |  | United Arab Emirates |  | 49.0 | % |  | 49.0 | %
Flight Training Alliance GmbH (JV) |  | Germany |  | 50.0 | % |  | 50.0 | %
HATSOFF Helicopter Training Private Limited |  | India |  | 50.0 | % |  | 50.0 | %
HFTS Helicopter Flight Training Services GmbH |  | Germany |  | 25.0 | % |  | 25.0 | %
JAL CAE Flight Training Co. Ltd. |  | Japan |  | 50.0 | % |  | 50.0 | %
National Flying Training Institute Private Limited |  | India |  | 51.0 | % |  | 51.0 | %
Pegasus Ucus Egitim Merkezi A.S. |  | Turkey |  | 49.9 | % |  | 49.9 | %
Pelesys Learning Systems Inc. |  | Canada |  | 45.0 | % |  | — |
Philippine Academy for Aviation Training Inc |  | Philippines |  | 40.0 | % |  | 20.0 | %
Rotorsim s.r.l. |  | Italy |  | 50.0 | % |  | 50.0 | %
Rotorsim USA LLC |  | United States |  | 50.0 | % |  | 50.0 | %
Zhuhai Free Trade Zone Xiang Yi Aviation Technology Company Limited |  | China |  | — |  |  | 49.0 | %
Zhuhai Xiang Yi Aviation Technology Company Limited |  | China |  | — |  |  | 49.0 | %
Acquisition of 45% interest in Pelesys The Company purchased 45% of the shares of Pelesys, a global leader in the provision of aviation training solutions and courseware, for a cash consideration of $7.7 million. This joint venture investment is accounted under the equity method. The transaction includes a series of put and call options over the remaining 55% equity interest. The options are exercisable on pre-determined dates, at fair value subject to a pre-defined cap and floor. In fiscal 2018, the unrecognized share of losses of joint ventures for which the Company ceased to recognize when applying the equity method was $7.0 million (2017 – $1.7 million (profits)). As at March 31, 2018, the cumulative unrecognized share of losses for these entities was $15.9 million (2017 – $8.9 million) and the cumulative unrecognized share of comprehensive loss of joint ventures was $17.1 million (2017 – $10.5 million). RELATED PARTY TRANSACTIONS The following table presents the Company’s outstanding balances with its joint ventures:
| 2018 |  |  | 2017 |
Accounts receivable (Note 4) | $ | 39.5 |  |  | $ | 54.0 |
Contracts in progress: assets | 14.5 |  |  | 14.2 |
Other assets | 25.4 |  |  | 27.4 |
Accounts payable and accrued liabilities (Note 9) | 9.7 |  |  | 15.3 |
Contracts in progress: liabilities | 3.9 |  |  | 25.9 |
Other assets include a finance lease receivable of $9.3 million (2017 – $12.4 million) maturing in October 2022 and carrying an interest rate of 5.14% per annum, a loan receivable of $8.9 million (2017 – $8.4 million) maturing June 2026 and carrying a fixed interest rate of ten years Euro swap rate plus a spread of 2.50%, and a long-term interest-free account receivable of $7.2 million (2017 – $6.6 million) with no repayment term. As at March 31, 2018 and 2017 there are no provisions held against the receivables from related parties. The following table presents the Company’s transactions with its joint ventures:
| 2018 |  |  | 2017 |
Revenue | $ | 65.2 |  |  | $ | 71.5 |
Purchases | 2.6 |  |  | 4.0 |
Other income | 1.5 |  |  | 1.8 |
In addition, during fiscal 2018, transactions amounting to $0.8 million (2017 – $1.4 million) were made, at normal market prices, with organizations for which some of the Company’s directors are officers. Compensation of key management personnel Key management personnel have the ability and responsibility to make major operational, financial and strategic decisions for the Company and include certain executive officers. The compensation of key management for employee services is shown below:
| 2018 |  |  | 2017 |
Salaries and other short-term employee benefits | $ | 7.0 |  |  | $ | 7.1 |
Post-employment benefits – defined benefit plans(1) | 1.8 |  |  | 1.3 |
Share-based payments | 17.8 |  |  | 16.8 |
| $ | 26.6 |  |  | $ | 25.2 |
(1) Includes net interest on employee benefits obligations.

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