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Related-Party Transactions | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions [Abstract] |
Related-Party Transactions | Related-Party Transactions Joint venture in which the Company is a venturer During 2019, the Company maintained its 51% investment in the equity of the joint venture, Luxfer Uttam India Private Limited. During 2019, the Gas Cylinders segment made $6.4 million (2018: $1.7 million) of sales to the joint venture. At December 31, 2019, the gross amounts receivable from the joint venture amounted to $2.9 million (2018: $1.1 million) and the net amounts receivable amounted to $2.7 million (2018: $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, where we did not deem it to be probable that we would collect substantially all of the consideration. In accordance with ASC 606, Revenue from Contracts with Customers, we did not recognize any revenue in relation to this transaction in 2018, however, this revenue was recognized, in full, during 2019. During 2019, the Company also maintained its 50% investment in the equity of the joint venture, Nikkei-MEL Company Limited. During 2019, the Elektron segment made $0.7 million of sales to the joint venture (2018: $0.9 million). At December 31, 2019, the gross and net amounts receivable from the joint venture amounted to $0.1 million (2018: nil) The Company held 49% of the equity in Luxfer Holdings NA, LLC 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 Company made $0.6 million of sales to the joint venture and received $0.4 million interest income. All sales to the joint venture are made on similar terms to arm's length transactions. Associates in which the Company holds an interest During 2019 the Company maintained its 26.4% equity of the associate, Sub161 Pty Limited. During 2019, the Company made $nil sales (2018: $nil) to the associate. At December 31, 2019, the amounts receivable from the associate denominated in Australian dollars was $nil (2018: $nil). Transactions with other related parties At December 31, 2019, the directors and key management comprising the members of the Executive Leadership Team, owned 377,424 £0.50 ordinary shares (2018: 237,161 £0.50 ordinary shares) and held awards over a further 302,752 £0.50 ordinary shares (2018: 600,528 £0.50 ordinary shares). During the years ended December 31, 2019 and December 31, 2018, share options held by members of the Executive Leadership Team were exercised. Cherokee Properties Inc. represents a related party due to its association with Chris Barnes, who was until July 2019 the president of one of our operating segments and is the president of Cherokee Properties Inc. During 2019, we engaged with Cherokee Properties Inc. for rental and associated costs regarding our manufacturing site in Madison, IL, for the value of $1.1 million (2018: $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.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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