28. Other (losses) gains (continued) The insurance proceeds recognized in other (losses) gains are related to a cavern wellhead fire that occurred in the latter part of 2014. The insurance proceeds received during the period are a reimbursement for assets lost and costs incurred in the previous reporting period. Prior period costs were recognized within operating and maintenance expense, net of the first interim insurance payment of $5 million, in the 2014 consolidated financial statements.
29. Net change in non-cash working capital related to operations
15 Months
12 Months
Ended March
Ended
December 31, 2014
(millions)
31, 2016
Trade and other receivables
$
–
$ 44
Natural gas in storage held for resale
56
43
Inventory of supplies
–
1
Trade and other payables
(6)
(19) (28)
Deferred revenue
26
$ 76
$ 41
30. Related party transactions Balances and transactions between SaskEnergy and its wholly owned subsidiaries, which are related parties of SaskEnergy, have been eliminated upon consolidation and are not disclosed in this note. Details of transactions between the Corporation and other related parties are disclosed below. a. Transactions with key management personnel Key management personnel include directors and executive officers. The compensation paid to key management for employee services was as follows: 15 Months 12 Months Ended Ended March December (millions) 31, 2016 31, 2014
Short-term benefits
$
3
$
4
b. Other related party transactions As a Crown corporation, the Corporation is ultimately controlled by the Government of Saskatchewan. Included in the consolidated financial statements are transactions with various Saskatchewan Crown corporations, ministries, agencies, boards and commissions related to the Corporation by virtue of common control by the Government of Saskatchewan and non-Crown corporations and enterprises subject to joint control and significant influence by the Government of Saskatchewan (collectively referred to as related parties). Government-related entities are exempt from providing disclosure about individual related party transactions, other than the transactions with key management personnel disclosed above. Instead, government-related entities are required to disclose the types and extent of individually or collectively significant transactions with related parties. In determining individually significant transactions, the Corporation considers the size, type and terms of the transaction. There were no other individually or collectively significant transactions with related parties for the period. All other transactions with related parties were routine operating transactions that were settled at prevailing market prices under normal trade terms.
79
2015-16 ANNUAL REPORT SASKENERGY
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