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Related-Party Transactions
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Related-Party Transactions
Related-Party Transactions
Joint venture in which the Company is a venturer
During 2018, the Company maintained its 51% investment in the equity of the joint venture, Luxfer Uttam India Private Limited. During 2018, the Gas Cylinders segment made $1.7 million (2017: $1.9 million) of sales to the joint venture. At December 31, 2018, the gross amounts receivable from the joint venture amounted to $1.1 million (2017: $2.3 million) and the net amounts receivable amounted to $0.9 million (2017: $0.9 million). In addition, in 2018 we have transferred goods to Luxfer Uttam on extended credit terms with a sales value of $1.6 million (2017: $nil), where we do not deem it to be probable that we will collect substantially all of the consideration. In accordance with ASC 606, Revenue from Contracts with Customers, we have not recognized any revenue in relation to this transaction.
During 2018, the Company also maintained its 50% investment in the equity of the joint venture, Nikkei-MEL Company Limited. During 2018, the Elektron segment made $0.9 million of sales to the joint venture (2017: $1.2 million).
During 2018, the Company provided $nil in debt investment (2017: $0.9 million) to the joint venture Luxfer Holdings NA, LLC, of which it held 49% of the equity up to December 28, 2018, after which the company acquired the remaining 51% equity stake with the entity fully consolidated at December 31, 2018 (see note 2 Acquisitions and Disposals). During 2018, the Gas Cylinders segment made $0.6 million (2017: $5.0 million) of sales to the joint venture and received $0.4 million (2017: $0.3 million) interest income. At December 31, 2018, the amounts receivable from the joint venture amounted to $nil (2017: $0.9 million) of trade debt and $nil (2017: $4.7 million) of debt investment, reflecting the step acquisition after which the entity became a fully consolidated subsidiary. All sales to the joint venture are made on similar terms to arm's length transactions.

18. Related-Party Transactions (continued)
Associates in which the Company holds an interest
During 2018 the Company maintained its 26.4% equity of the associate, Sub161 Pty Limited. During 2018, the Company made $nil sales (2017: $nil) to the associate. At December 31, 2018, the amounts receivable from the associate denominated in Australian dollars was $nil (2017: $nil).
Transactions with other related parties
At December 31, 2018, the directors and key management comprising the members of the Executive Leadership Team, owned 237,161 £0.50 ordinary shares (2017: 170,297 £0.50 ordinary shares) and held awards over a further 600,528 £0.50 ordinary shares (2017: 316,797 £0.50 ordinary shares).
During the years ended December 31, 2018 and December 31, 2017, share options held by members of the Executive Leadership Team were exercised.
Stone Canyon Industries LLC represents a related party due to its association with Adam Cohn as co-CEO of Stone Canyon, and holds nil ordinary shares in Luxfer Holdings PLC as at December 31, 2018 (2017: 570,000).
FTI consulting represents a related party due to its association with Brian Kushner as Senior Managing Director, Corporate Finance of FTI. During 2017, we engaged with FTI consulting for IT services for the value of $0.1 million.
Cherokee Properties Inc. represents a related party due to its association with Chris Barnes, who is the president of one of our operating segments and is the president of Cherokee Properties Inc. During 2018, we engaged with Cherokee Properties Inc. for rental and associated costs regarding our manufacturing site in Madison, IL, for the value of $1.0 million (2017: $1.0 million).
Other than the transactions with the joint ventures and associates disclosed above and key management personnel disclosed above, no other related-party transactions have been identified.