Ubisoft 2014 Annual Report Download - page 155

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Financial statements
2014
150
C - RELATED PARTY TRANSACTIONS
The main relationships of the parent company with its subsidiaries relate to:
- Production subsidiaries billing the parent company for development costs based on the
progress of their projects.
- The parent Company invoicing distribution subsidiaries for a contribution to development
costs.
- The implementation of cash agreements allowing for centralized management at parent
company level of the bank accounts of the majority of the Group companies.
The other significant related party transactions are:
- Licenses invoiced to Gameloft SA for €650 thousand over the financial year.
- The amounts invoiced in respect of development contracts to Gameloft SA, AMA Studios SA,
AMA Ltd and Longtail Studios Inc. totaling €3,924 thousand. The payable balance at the
balance sheet date is €691 thousand. The amount of the assets in the balance sheet is
€14,415 thousand.
Ubisoft Entertainment SA has not bought back treasury shares from related parties.
No transactions exist with the corporate officers, with the exception of their remuneration for their
duties as CEO and Executive Vice President.
Transactions made by the company with associated parties are concluded according to normal market
conditions.
There are no other significant transactions with related parties.
1.6.9.3 OFF-BALANCE SHEET COMMITMENTS
OFF-BALANCE SHEET COMMITMENTS RELATED TO COMPANY FINANCING
Type
Description
Expiry at
03/31/14
03/31/13
Commitments given
(1)
88,478
62,927
Financial guarantees given by the parent
company to:
Ubisoft Divertissement Inc.
Lease payment guarantee
03/31/23
657
768
Ubisoft Inc.
Guarantee of commercial commitments
End of
commercial
relationship
7,253
7,809
Ubisoft Ltd
Lease payment guarantee
08/31/13
-
540
Ubisoft Ltd
Lease payment guarantee
03/24/18
604
-
Ubisoft Reflections Ltd
Lease payment guarantee
12/21/15
398
616
Ubisoft Paris SAS
Lease payment guarantee
02/28/21
4,872
5,577
Ubisoft Production Internationale SAS
Payment guarantee for RedLynx Oy
additional price
10/31/14
5,000
5,000
Ubisoft Entertainment Sweden AB
Lease payment guarantee
12/31/14
559
598
Red Storm Entertainment Inc.
Lease payment guarantee
04/30/19
3,010
3,832
Ubisoft Inc.
Stand-by letter
09/30/14
7,253
7,809
Ubisoft EMEA SAS
Stand-by letter
09/30/14
5,000
5,000
Ubisoft Divertissement Inc.
Loan guarantee
05/01/17
35,000
25,000
Ubisoft Divertissement Inc.
Guarantee of investment commitments
08/31/20
4,644
-
Ubisoft GmbH
Payment guarantee for Related Designs
Software GmbH additional price
02/28/16
4,500
-
Ubisoft Ltd
Payment guarantee for Future Games of
London Ltd additional price
12/31/16
9,660
-
Commitments received
(1)
484.706
372.428
Lines of credit received and not utilized
274.500
259.500
Syndicated loan
07/09/17
214,500
214,500
Committed lines of credit
04/30/17
35,000
25,000