Document and Entity Information
Document and Entity Information | 12 Months Ended |
Oct. 31, 2019shares | |
Cover [Abstract] | |
Entity Registrant Name | MICRO FOCUS INTERNATIONAL PLC |
Entity Central Index Key | 0001359711 |
Current Fiscal Year End Date | --10-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 363,583,328 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Document Transition Report | false |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Oct. 31, 2019 |
Entity Interactive Data Current | Yes |
Document Annual Report | true |
Document Shell Company Report | false |
Consolidated statement of compr
Consolidated statement of comprehensive income $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2019USD ($)$ / shares | Apr. 30, 2017USD ($)$ / shares | Oct. 31, 2018USD ($)$ / shares | |||
Continuing operations [Abstract] | |||||
Revenue | $ 3,348.4 | [1] | $ 1,077.3 | $ 4,754.4 | |
Cost of sales | (789.9) | (216.4) | (1,302.7) | ||
Gross profit | 2,558.5 | 860.9 | 3,451.7 | ||
Selling and distribution costs | (1,224.8) | (363.2) | (1,764.2) | ||
Research and development expenses | (491.2) | (122.8) | (680.8) | ||
Administrative expenses | (620.8) | (147.5) | (629.9) | ||
Operating profit | 221.7 | 227.4 | 376.8 | ||
Finance costs | (282.4) | (96.8) | (350.4) | ||
Finance income | 26.6 | 1 | 7.7 | ||
Net finance costs | (255.8) | (95.8) | (342.7) | ||
Profit/(loss) before tax | (34.1) | [1] | 131.6 | 34.1 | |
Taxation | 16 | (7.5) | 673.1 | ||
Profit/(loss) from continuing operations | (18.1) | 124.1 | [2] | 707.2 | |
Profit from discontinued operation (attributable to equity shareholders of the Company) | 1,487.2 | [1] | 33.7 | [2] | 76.9 |
Profit for the period | 1,469.1 | 157.8 | [2] | 784.1 | |
Attributable to: | |||||
Equity shareholders of the company | 1,468.8 | 157.9 | 784 | ||
Non-controlling interests | 0.3 | (0.1) | 0.1 | ||
Continuing operations | |||||
Actuarial loss on pension schemes liabilities | (26.2) | (0.2) | (8.9) | ||
Actuarial (loss)/gain on non-plan pension assets | 0.3 | 0.3 | (5.3) | ||
Deferred tax movement | 13 | (0.1) | 3.8 | ||
Discontinued operation: | |||||
Actuarial (loss)/gain on pension schemes liabilities | 0.1 | 0.6 | (1.5) | ||
Actuarial gain on non-plan pension assets | 0.1 | (0.2) | (0.5) | ||
Deferred tax movement | 0 | (0.2) | 0.5 | ||
Currency translation differences - discontinued operation | (1.5) | ||||
Items that may be subsequently reclassified to profit or loss | |||||
Cash flow hedge movements | (122.9) | 86.4 | |||
Current tax movement | 23.3 | (16.4) | |||
Deferred tax movement | 14 | ||||
Currency translation differences - continuing operations | (206.2) | (4.9) | (29.5) | ||
Currency translation differences - discontinued operation | (1) | 0.7 | |||
Other comprehensive income/(expense) for the period | (306) | [3] | (5.7) | 29.3 | |
Total comprehensive income/(expense) for the period | 1,163.1 | 152.1 | 813.4 | ||
Attributable to: | |||||
Equity shareholders of the Company | 1,162.8 | 152.2 | 813.3 | ||
Non-controlling interests | 0.3 | (0.1) | 0.1 | ||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||
Continuing operations | (322.8) | 119.2 | 737.3 | ||
Discontinued operations | $ 1,485.9 | $ 32.9 | $ 76.1 | ||
From continuing and discontinued operations | |||||
Basic (in dollars per share) | (per share) | $ 3.8850 | $ 0.6888 | $ 2.0170 | ||
Diluted (in dollars per share) | (per share) | 3.8435 | 0.6651 | 1.9617 | ||
From continuing operations | |||||
Basic (in dollars per share) | (per share) | (0.0487) | 0.5417 | 1.8191 | ||
Diluted (in dollars per share) | (per share) | $ (0.0487) | $ 0.5231 | $ 1.7692 | ||
Before Exceptional Items [Member] | |||||
Continuing operations [Abstract] | |||||
Revenue | $ 3,348.4 | $ 1,077.3 | $ 4,754.4 | ||
Cost of sales | (777.3) | (213.5) | (1,237.3) | ||
Gross profit | 2,571.1 | 863.8 | 3,517.1 | ||
Selling and distribution costs | (1,216.4) | (357.7) | (1,725) | ||
Research and development expenses | (491.7) | (116) | (663.4) | ||
Administrative expenses | (347.1) | (65.5) | (213.7) | ||
Operating profit | 515.9 | 324.6 | 915 | ||
Finance costs | (282.4) | (96.8) | (344) | ||
Finance income | 26.6 | 1 | 7.1 | ||
Net finance costs | (255.8) | (95.8) | (336.9) | ||
Profit/(loss) before tax | 260.1 | 228.8 | 578.1 | ||
Taxation | (38.3) | (19.1) | (125.1) | ||
Profit/(loss) from continuing operations | 221.8 | 209.7 | 453 | ||
Profit from discontinued operation (attributable to equity shareholders of the Company) | 28.7 | 33.7 | 76.9 | ||
Profit for the period | 250.5 | 243.4 | 529.9 | ||
Attributable to: | |||||
Equity shareholders of the company | 250.2 | 243.5 | 529.8 | ||
Non-controlling interests | 0.3 | (0.1) | 0.1 | ||
Continuing operations | |||||
Actuarial loss on pension schemes liabilities | (26.2) | (0.2) | (8.9) | ||
Actuarial (loss)/gain on non-plan pension assets | 0.3 | 0.3 | (5.3) | ||
Deferred tax movement | 13 | (0.1) | 3.8 | ||
Discontinued operation: | |||||
Actuarial (loss)/gain on pension schemes liabilities | 0.1 | 0.6 | (1.5) | ||
Actuarial gain on non-plan pension assets | 0.1 | (0.2) | (0.5) | ||
Deferred tax movement | 0 | (0.2) | 0.5 | ||
Currency translation differences - discontinued operation | 0 | ||||
Items that may be subsequently reclassified to profit or loss | |||||
Cash flow hedge movements | (122.9) | 86.4 | |||
Current tax movement | 23.3 | (16.4) | |||
Deferred tax movement | 14 | ||||
Currency translation differences - continuing operations | (206.2) | (4.9) | (29.5) | ||
Currency translation differences - discontinued operation | (1) | 0.7 | |||
Other comprehensive income/(expense) for the period | (304.5) | (5.7) | 29.3 | ||
Total comprehensive income/(expense) for the period | (54) | 237.7 | 559.2 | ||
Attributable to: | |||||
Equity shareholders of the Company | (54.3) | 237.8 | 559.1 | ||
Non-controlling interests | 0.3 | (0.1) | 0.1 | ||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||
Continuing operations | (82.9) | 204.8 | 483.1 | ||
Discontinued operations | 28.9 | 32.9 | 76.1 | ||
Exceptional Items Adjustments [Member] | |||||
Continuing operations [Abstract] | |||||
Revenue | 0 | 0 | 0 | ||
Cost of sales | (12.6) | (2.9) | (65.4) | ||
Gross profit | (12.6) | (2.9) | (65.4) | ||
Selling and distribution costs | (8.4) | (5.5) | (39.2) | ||
Research and development expenses | 0.5 | (6.8) | (17.4) | ||
Administrative expenses | (273.7) | (82) | (416.2) | ||
Operating profit | (294.2) | (97.2) | (538.2) | ||
Finance costs | 0 | 0 | (6.4) | ||
Finance income | 0 | 0 | 0.6 | ||
Net finance costs | 0 | 0 | (5.8) | ||
Profit/(loss) before tax | (294.2) | (97.2) | (544) | ||
Taxation | 54.3 | 11.6 | 798.2 | ||
Profit/(loss) from continuing operations | (239.9) | (85.6) | 254.2 | ||
Profit from discontinued operation (attributable to equity shareholders of the Company) | 1,458.5 | 0 | 0 | ||
Profit for the period | 1,218.6 | (85.6) | 254.2 | ||
Attributable to: | |||||
Equity shareholders of the company | 1,218.6 | (85.6) | 254.2 | ||
Non-controlling interests | 0 | 0 | 0 | ||
Continuing operations | |||||
Actuarial loss on pension schemes liabilities | 0 | 0 | 0 | ||
Actuarial (loss)/gain on non-plan pension assets | 0 | 0 | 0 | ||
Deferred tax movement | 0 | 0 | 0 | ||
Discontinued operation: | |||||
Actuarial (loss)/gain on pension schemes liabilities | 0 | 0 | 0 | ||
Actuarial gain on non-plan pension assets | 0 | 0 | 0 | ||
Deferred tax movement | 0 | 0 | 0 | ||
Currency translation differences - discontinued operation | (1.5) | ||||
Items that may be subsequently reclassified to profit or loss | |||||
Cash flow hedge movements | 0 | 0 | |||
Current tax movement | 0 | 0 | |||
Deferred tax movement | 0 | ||||
Currency translation differences - continuing operations | 0 | 0 | 0 | ||
Currency translation differences - discontinued operation | 0 | 0 | |||
Other comprehensive income/(expense) for the period | (1.5) | 0 | 0 | ||
Total comprehensive income/(expense) for the period | 1,217.1 | (85.6) | 254.2 | ||
Attributable to: | |||||
Equity shareholders of the Company | 1,217.1 | (85.6) | 254.2 | ||
Non-controlling interests | 0 | 0 | 0 | ||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||
Continuing operations | (239.9) | (85.6) | 254.2 | ||
Discontinued operations | $ 1,457 | $ 0 | $ 0 | ||
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. | ||||
[2] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) | ||||
[3] | $21.6m of foreign exchange movements arising on the re-denomination of intangible assets, see note 11, have been recognized as ''currency translation differences - continuing operations'' and $1.5m of currency translation differences are recorded in retained earnings at October 31, 2019, net of $4.9m of deferred tax. |
Consolidated statements of fina
Consolidated statements of financial position - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Non-current assets [abstract] | ||
Goodwill | $ 6,671.3 | $ 6,805 |
Other intangible assets | 5,942.3 | 6,629.3 |
Property, plant and equipment | 140.5 | 144.3 |
Derivative asset | 0 | 86.4 |
Long-term pension assets | 17.1 | 16.7 |
Contract-related costs | 31.5 | 0 |
Other non-current assets | 44 | 38.8 |
Total non-current assets | 12,846.7 | 13,720.5 |
Current assets [abstract] | ||
Inventories | 0.1 | 0.2 |
Trade and other receivables | 1,032.9 | 1,272 |
Contract-related costs | 19.3 | 0 |
Current tax receivables | 40.1 | 24.5 |
Cash and cash equivalents | 355.7 | 620.9 |
Current assets before assets held for sale | 1,448.1 | 1,917.6 |
Current assets classified as held for sale | 0 | 1,142.5 |
Total current assets | 1,448.1 | 3,060.1 |
Total assets | 14,294.8 | 16,780.6 |
Current liabilities [abstract] | ||
Trade and other payables | 611 | 676.9 |
Borrowings | 0 | 3.7 |
Finance leases | 11.8 | 13.6 |
Provisions | 29.3 | 57.4 |
Current tax liabilities | 104 | 124.1 |
Contract liabilities | 1,045.9 | 1,134.7 |
Current liabilities Before liabilities held for sale | 1,802 | 2,010.4 |
Current liabilities classified as held for sale | 0 | 437.7 |
Total current liabilities | 1,802 | 2,448.1 |
Non-current liabilities [abstract] | ||
Contract liabilities | 149.9 | 178.1 |
Borrowings | 4,670.7 | 4,842.2 |
Finance leases | 11.7 | 14.9 |
Derivative liability | 36.5 | 0 |
Retirement benefit obligations | 141.4 | 110.4 |
Provisions | 49.1 | 35.4 |
Other non-current liabilities | 50.4 | 58 |
Current tax liabilities | 119.7 | 131 |
Deferred tax liabilities | 987.1 | 1,170.5 |
Total non-current liabilities | 6,216.5 | 6,540.5 |
Total liabilities | 8,018.5 | 8,988.6 |
Net assets | 6,276.3 | 7,792 |
Capital and reserves | ||
Share capital | 47.2 | 65.8 |
Share premium account | 44 | 41 |
Merger reserve | 1,739.8 | 3,724.4 |
Capital redemption reserve | 2,485 | 666.3 |
Hedging reserve | (29.6) | 70 |
Retained earnings | 2,250.7 | 3,275.2 |
Foreign currency translation reserve | (262.1) | (51.7) |
Total equity attributable to owners of the parent | 6,275 | 7,791 |
Non-controlling interests | 1.3 | 1 |
Total equity | $ 6,276.3 | $ 7,792 |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Millions | Total | IFRS 15 [Member] | IFRS 9 [Member] | Share Capital [Member] | Share Capital [Member]IFRS 15 [Member] | Share Capital [Member]IFRS 9 [Member] | Share Premium Account [Member] | Share Premium Account [Member]IFRS 15 [Member] | Share Premium Account [Member]IFRS 9 [Member] | Retained Earnings [Member] | Retained Earnings [Member]IFRS 15 [Member] | Retained Earnings [Member]IFRS 9 [Member] | Foreign Currency Translation Reserve [Member] | Foreign Currency Translation Reserve [Member]IFRS 15 [Member] | Foreign Currency Translation Reserve [Member]IFRS 9 [Member] | Capital Redemption Reserves [Member] | Capital Redemption Reserves [Member]IFRS 15 [Member] | Capital Redemption Reserves [Member]IFRS 9 [Member] | Hedging Reserve [Member] | Hedging Reserve [Member]IFRS 15 [Member] | Hedging Reserve [Member]IFRS 9 [Member] | Merger Reserve [Member] | Merger Reserve [Member]IFRS 15 [Member] | Merger Reserve [Member]IFRS 9 [Member] | Total Equity Attributable to Owners of the Parent [Member] | Total Equity Attributable to Owners of the Parent [Member]IFRS 15 [Member] | Total Equity Attributable to Owners of the Parent [Member]IFRS 9 [Member] | Non-controlling Interests [Member] | Non-controlling Interests [Member]IFRS 15 [Member] | Non-controlling Interests [Member]IFRS 9 [Member] | ||
Beginning balance at Apr. 30, 2016 | $ 1,593.7 | $ 39.6 | $ 190.3 | $ 228.3 | $ (17) | $ 163.4 | $ 0 | $ 988.1 | $ 1,592.7 | $ 1 | ||||||||||||||||||||||
Changes in equity [Abstract] | ||||||||||||||||||||||||||||||||
Profit for the financial period | 157.8 | [1] | 0 | 0 | 157.9 | 0 | 0 | 0 | 0 | 157.9 | (0.1) | |||||||||||||||||||||
Other comprehensive income/(expense) for the period | (5.7) | 0 | 0 | 0.2 | (5.9) | 0 | 0 | 0 | (5.7) | 0 | ||||||||||||||||||||||
Total comprehensive income/(expense) for the period | 152.1 | 0 | 0 | 158.1 | (5.9) | 0 | 0 | 0 | 152.2 | (0.1) | ||||||||||||||||||||||
Transactions with owners: | ||||||||||||||||||||||||||||||||
Dividends | (177.5) | 0 | 0 | (177.5) | 0 | 0 | 0 | 0 | (177.5) | 0 | ||||||||||||||||||||||
Treasury shares purchased | (7.7) | 0 | 0 | (7.7) | 0 | 0 | 0 | 0 | (7.7) | 0 | ||||||||||||||||||||||
Share options: | ||||||||||||||||||||||||||||||||
Issue of share capital - share options | 1.8 | 0.1 | 1.8 | (0.1) | 0 | 0 | 0 | 0 | 1.8 | 0 | ||||||||||||||||||||||
Share-based payment charge | 24 | 0 | 0 | 24 | 0 | 0 | 0 | 0 | 24 | 0 | ||||||||||||||||||||||
Current tax on share options | 4.1 | 0 | 0 | 4.1 | 0 | 0 | 0 | 0 | 4.1 | 0 | ||||||||||||||||||||||
Deferred tax on share options | 23 | 0 | 0 | 23 | 0 | 0 | 0 | 0 | 23 | 0 | ||||||||||||||||||||||
Share reorganization and buy-back: | ||||||||||||||||||||||||||||||||
Issue and redemption of B shares | 0 | |||||||||||||||||||||||||||||||
Reallocation of merger reserve | 0 | 0 | 0 | 650 | 0 | 0 | 0 | (650) | 0 | 0 | ||||||||||||||||||||||
Total movements for the period | 19.8 | 0.1 | 1.8 | 673.9 | (5.9) | 0 | 0 | (650) | 19.9 | (0.1) | ||||||||||||||||||||||
Ending balance at Apr. 30, 2017 | 1,613.5 | 39.7 | 192.1 | 902.2 | (22.9) | 163.4 | 0 | 338.1 | 1,612.6 | 0.9 | ||||||||||||||||||||||
Changes in equity [Abstract] | ||||||||||||||||||||||||||||||||
Profit for the financial period | 784.1 | 0 | 0 | 784 | 0 | 0 | 0 | 0 | 784 | 0.1 | ||||||||||||||||||||||
Other comprehensive income/(expense) for the period | 29.3 | 0 | 0 | (11.9) | (28.8) | 0 | 70 | 0 | 29.3 | 0 | ||||||||||||||||||||||
Total comprehensive income/(expense) for the period | 813.4 | 0 | 0 | 772.1 | (28.8) | 0 | 70 | 0 | 813.3 | 0.1 | ||||||||||||||||||||||
Transactions with owners: | ||||||||||||||||||||||||||||||||
Dividends | (542.2) | 0 | 0 | (542.2) | 0 | 0 | 0 | 0 | (542.2) | 0 | ||||||||||||||||||||||
Share options: | ||||||||||||||||||||||||||||||||
Issue of share capital - share options | 5.8 | 0.2 | 5.6 | 0 | 0 | 0 | 0 | 0 | 5.8 | 0 | ||||||||||||||||||||||
Share-based payment charge | 78.6 | 0 | 0 | 78.6 | 0 | 0 | 0 | 0 | 78.6 | 0 | ||||||||||||||||||||||
Current tax on share options | 4.1 | 0 | 0 | 4.1 | 0 | 0 | 0 | 0 | 4.1 | 0 | ||||||||||||||||||||||
Deferred tax on share options | (23.7) | 0 | 0 | (23.7) | 0 | 0 | 0 | 0 | (23.7) | 0 | ||||||||||||||||||||||
Acquisitions: | ||||||||||||||||||||||||||||||||
Shares issued to acquire HPE Software business | 6,514.2 | 28.8 | 0 | 0 | 0 | 0 | 0 | 6,485.4 | 6,514.2 | 0 | ||||||||||||||||||||||
Share reorganization and buy-back: | ||||||||||||||||||||||||||||||||
Return of Value - share consolidation | 0 | (2.9) | 0 | 0 | 0 | 2.9 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||
Issue and redemption of B shares | (500) | 0 | (156.7) | (500) | 0 | 500 | 0 | (343.3) | (500) | 0 | ||||||||||||||||||||||
Share buy-back | (171.7) | 0 | 0 | (171.7) | 0 | 0 | 0 | 0 | (171.7) | 0 | ||||||||||||||||||||||
Reallocation of merger reserve | 0 | 0 | 0 | 2,755.8 | 0 | 0 | 0 | (2,755.8) | 0 | 0 | ||||||||||||||||||||||
Total movements for the period | 6,178.5 | 26.1 | (151.1) | 2,373 | (28.8) | 502.9 | 70 | 3,386.3 | 6,178.4 | 0.1 | ||||||||||||||||||||||
Ending balance (Revised [Member]) at Oct. 31, 2018 | 7,828.8 | 65.8 | 41 | 3,312 | (51.7) | 666.3 | 70 | 3,724.4 | 7,827.8 | 1 | ||||||||||||||||||||||
Ending balance (Impact of Adoption of IFRSs [Member]) at Oct. 31, 2018 | $ 52.4 | $ (15.6) | $ 0 | $ 0 | $ 0 | $ 0 | $ 52.4 | $ (15.6) | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 52.4 | $ (15.6) | $ 0 | $ 0 | ||||||||||||
Ending balance at Oct. 31, 2018 | 7,792 | 65.8 | 41 | 3,275.2 | (51.7) | 666.3 | 70 | 3,724.4 | 7,791 | 1 | ||||||||||||||||||||||
Changes in equity [Abstract] | ||||||||||||||||||||||||||||||||
Profit for the financial period | 1,469.1 | 0 | 0 | 1,468.8 | 0 | 0 | 0 | 0 | 1,468.8 | 0.3 | ||||||||||||||||||||||
Other comprehensive income/(expense) for the period | [2] | (306) | 0 | 0 | 4 | (210.4) | 0 | (99.6) | 0 | (306) | 0 | |||||||||||||||||||||
Total comprehensive income/(expense) for the period | 1,163.1 | 0 | 0 | 1,472.8 | (210.4) | 0 | (99.6) | 0 | 1,162.8 | 0.3 | ||||||||||||||||||||||
Transactions with owners: | ||||||||||||||||||||||||||||||||
Dividends | (439.2) | 0 | 0 | (439.2) | 0 | 0 | 0 | 0 | (439.2) | 0 | ||||||||||||||||||||||
Treasury shares purchased | (710) | |||||||||||||||||||||||||||||||
Share options: | ||||||||||||||||||||||||||||||||
Issue of share capital - share options | (0.7) | 0.1 | 3 | (3.8) | 0 | 0 | 0 | 0 | (0.7) | 0 | ||||||||||||||||||||||
Share-based payment charge | 64.5 | 0 | 0 | 64.5 | 0 | 0 | 0 | 0 | 64.5 | 0 | ||||||||||||||||||||||
Current tax on share options | 13.1 | 0 | 0 | 13.1 | 0 | 0 | 0 | 0 | 13.1 | 0 | ||||||||||||||||||||||
Deferred tax on share options | (7.6) | 0 | 0 | (7.6) | 0 | 0 | 0 | 0 | (7.6) | 0 | ||||||||||||||||||||||
Share reorganization and buy-back: | ||||||||||||||||||||||||||||||||
Return of Value - share consolidation | 0 | (18.7) | 0 | 0 | 0 | 18.7 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||
Expenses relating to Return of Value | (1) | 0 | 0 | (1) | 0 | 0 | 0 | 0 | (1) | 0 | ||||||||||||||||||||||
Issue and redemption of B shares | (1,800) | 0 | 0 | (1,800) | 0 | 1,800 | 0 | (1,800) | (1,800) | 0 | ||||||||||||||||||||||
Share buy-back | (544.7) | 0 | 0 | (544.7) | 0 | 0 | 0 | 0 | (544.7) | 0 | ||||||||||||||||||||||
Reallocation of merger reserve | 0 | 0 | 0 | 184.6 | 0 | 0 | 0 | (184.6) | 0 | 0 | ||||||||||||||||||||||
Total movements for the period | (1,552.5) | (18.6) | 3 | (1,061.3) | (210.4) | 1,818.7 | (99.6) | (1,984.6) | (1,552.8) | 0.3 | ||||||||||||||||||||||
Ending balance at Oct. 31, 2019 | $ 6,276.3 | $ 47.2 | $ 44 | $ 2,250.7 | $ (262.1) | $ 2,485 | $ (29.6) | $ 1,739.8 | $ 6,275 | $ 1.3 | ||||||||||||||||||||||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) | |||||||||||||||||||||||||||||||
[2] | $21.6m of foreign exchange movements arising on the re-denomination of intangible assets, see note 11, have been recognized as ''currency translation differences - continuing operations'' and $1.5m of currency translation differences are recorded in retained earnings at October 31, 2019, net of $4.9m of deferred tax. |
Consolidated statement of cha_2
Consolidated statement of changes in equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Changes in equity [abstract] | |||
Currency translation differences - continuing operations | $ (206.2) | $ (4.9) | $ (29.5) |
Deferred tax asset | 0 | $ 0 | |
Foreign Currency Translation Reserve [Member] | |||
Changes in equity [abstract] | |||
Currency translation differences - continuing operations | 21.6 | ||
Retained Earnings [Member] | |||
Changes in equity [abstract] | |||
Currency translation differences - continuing operations | 1.5 | ||
Deferred tax asset | $ 4.9 |
Consolidated statements of cash
Consolidated statements of cash flows - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||||
Cash flows from operating activities | ||||||
Cash generated from operations | $ 1,056.3 | $ 564.8 | [1] | $ 1,424.3 | ||
Interest paid | (227.1) | (81.1) | (301.8) | |||
Bank loan costs | 0 | (6.7) | (101.2) | |||
Tax paid | (167.4) | (24.6) | (99.5) | |||
Net cash generated from operating activities | 661.8 | 452.4 | 921.8 | |||
Cash flows from/(used in) investing activities | ||||||
Payments for intangible assets | (29.3) | [2] | (31.4) | (92.1) | [2] | |
Purchase of property, plant and equipment | (56.3) | [2] | (11.7) | (40.1) | [2] | |
Finance leases | 0 | [3] | 0 | (0.7) | ||
Interest received | 26.6 | 1 | 9.2 | |||
Payment for acquisition of business | (89) | (299.1) | (19.2) | |||
Repayment of bank borrowings on acquisition of businesses | 0 | (316.6) | 0 | |||
Net cash acquired with acquisitions | 1.2 | 68.1 | 321.7 | |||
Investing cash flows generated from disposals | 20 | 0 | 0 | |||
Investing cash flows generated from discontinued operation, net of cash disposed | 2,473.5 | 0 | 0 | |||
Tax paid on divestiture gain | (264.6) | 0 | 0 | |||
Net cash from/(used) in investing activities | 2,082.1 | (589.7) | 178.8 | |||
Cash flows used in financing activities | ||||||
Investment in non-controlling interest | 0 | (0.1) | (0.1) | |||
Proceeds from issue of ordinary share capital | 3.1 | 2 | 5.8 | |||
Purchase of treasury shares and related expenses | (544.7) | (7.7) | (171.7) | |||
Return of Value paid to shareholders | (1,800) | 0 | (500) | |||
Expenses relating to Return of Value | (1) | 0 | 0 | |||
Repayment of working capital in respect of HPE Software business acquisition | 0 | 0 | (225.8) | |||
Finance leases | (12.9) | [3] | 0 | 0 | ||
Repayment of bank borrowings | (212.6) | (372.1) | (252.9) | |||
Proceeds from bank borrowings | 0 | 180 | 1,043.8 | |||
Dividends paid to owners | (439.2) | (177.5) | (542.2) | |||
Net cash used in financing activities | (3,007.3) | (375.4) | (643.1) | |||
Effects of exchange rate changes | (1.8) | (3.5) | 15.3 | |||
Net (decrease)/increase in cash and cash equivalents | (265.2) | (516.2) | 472.8 | |||
Cash and cash equivalents at beginning of period | 620.9 | 667.2 | 151 | |||
Cash equivalents | 355.7 | 151 | 623.8 | |||
Reclassification to current assets classified as held for sale | 0 | 0 | (2.9) | |||
Cash and cash equivalents at end of period | $ 355.7 | $ 151 | $ 620.9 | |||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) | |||||
[2] | The principal non-cash transactions in the 12 months ended October 31, 2019 were property, plant and equipment finance lease additions of $9.0m (note 12). The principal non-cash transactions in the 18 months ended October 31, 2018 were the issuance of shares as purchase consideration for the HPE Software business acquisition (note 38) and property, plant and equipment finance lease additions of $12.0m (note 12). | |||||
[3] | Cash outflows in relation to repayments of finance lease liabilities have been reclassified as a financing activity in the current year as repayments relating to all leases will be presented as financing activities in future periods following the adoption of IFRS 16. The comparative continues to be shown as an investing activity. |
Consolidated statements of ca_2
Consolidated statements of cash flows (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Consolidated statements of cash flows [Abstract] | ||
Non-cash transactions | $ 9 | $ 12 |
General information
General information | 12 Months Ended |
Oct. 31, 2019 | |
General information [Abstract] | |
General information | General information Micro Focus International plc (“Company”) is a public limited company incorporated and domiciled in the UK. The address of its registered office is, The Lawn, 22-30 Old Bath Road, Newbury, RG14 1QN, UK. Micro Focus International plc and its subsidiaries (together “Group”) provide innovative software to clients around the world enabling them to dramatically improve the business value of their enterprise applications. As at October 31, 2019, the Group had a presence in 48 countries (October 31, 2018: 49; April 30, 2017: 40) worldwide and employed approximately 12,100 people (October 31, 2018: 14,800 including 1,200 SUSE employees; April 30, 2017: 4,800). The Company is listed on the London Stock Exchange and its American Depositary Shares are listed on the New York Stock Exchange. In the prior period, the Company changed its financial year-end from April 30 to October 31 and reported 18-month financial statements running from May 1, 2017 to October 31, 2018. |
Significant Accounting policies
Significant Accounting policies | 12 Months Ended |
Oct. 31, 2019 | |
Significant Accounting policies [Abstract] | |
Significant Accounting policies | 1 Significant Accounting policies A Basis of preparation The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IASB”) and in conformity with IFRS as adopted by the European Union (collectively “IFRS”). The consolidated financial statements have been prepared on a going concern basis under the historical cost convention. These financial statements have been prepared for a 12-month period as compared with a prior 18-month and 12-month reporting periods and therefore are not entirely comparable. The use of an 18 month reporting period is permitted under the UK Companies Act 2006. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed below in II, ‘Critical accounting estimates, assumptions and judgments’. The principal accounting policies adopted by the Group in the preparation of the consolidated financial statements are set out below. The accounting policies adopted are consistent with those of the Annual Report on Form 20-F for the 18 months ended October 31, 2018 apart from standards, amendments to or interpretations of published standards adopted during the period and the revision in the period to allocate goodwill and purchased intangible assets into functional currencies of the underlying foreign operations and then retranslate goodwill and purchased intangible assets at closing rates, as set out in Accounting Policy J(b) “Foreign currency translation - transactions and balances”, and which has been recorded in the 12 months ended October 31, 2019 (note 11). Going concern The directors, having made enquiries, consider that the Group has adequate resources to continue in operational existence for the foreseeable future and therefore it is appropriate to maintain the going concern basis in preparing these financial statements. Consolidated statement of comprehensive income – Prior Period Revision In the prior period, certain costs were incorrectly presented as administrative expenses ($159.0m) and should have been classified as $43.4m in cost of sales, $94.2m in selling and distribution expenses and $21.4m in research and development expenses. Management have therefore decided to correct the presentation and record these immaterial adjustments to revise the Consolidated statement of comprehensive income for the 18 months ended October 31, 2018. The impact of the revision is to reduce administrative expenses by $159.0m, increase cost of sales by $43.4m, increase selling and distribution expenses by $94.2m and increase research and development expenses by $21.4m as compared with previously reported amounts. The revision has no impact on the operating profit, profit for the period, assets and liabilities or cash flows for the 18 months ended October 31, 2018. This revision has also been reflected in the unaudited financial information for the 12-month period ended October 31, 2018 and the 6-month period ended October 31, 2017 presented in Exhibit 15.4. B Consolidation The financial statements of the Group comprise the financial statements of the Company and entities controlled by the Company, its subsidiaries and the Group’s share of its interests in associates prepared at the consolidated statement of financial position date. Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an entity where the Group is exposed to, or has rights to, variable returns from its involvement within the entity and it has the power over the entity to effect those returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing control. Control is presumed to exist when the Group owns more than half of the voting rights (which does not always equal percentage ownership) unless it can be demonstrated that ownership does not constitute control. The results of subsidiaries are consolidated from the date on which control passes to the Group. The results of disposed subsidiaries are consolidated up to the date on which control passes from the Group. The purchase method of accounting is used to account for the acquisition of subsidiaries by the Group. The cost of acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, with costs directly attributable to the acquisition being expensed. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the Group’s share of the identifiable net assets acquired is recorded as goodwill. Where new information is obtained within the ‘measurement period’ (defined as the earlier of the period until which the Group receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable, or one year from the acquisition date) about facts and circumstances that existed as at the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date, the Group recognizes these adjustments to the acquisition balance sheet with an equivalent offsetting adjustment to goodwill. Where new information is obtained after this measurement period has closed, this is reflected in the post-acquisition period. For partly owned subsidiaries, the allocation of net assets and net earnings to outside shareholders is shown in the line ‘Attributable to non-controlling interests’ on the face of the Consolidated statement of comprehensive income and the Consolidated statement of financial position. Inter-company transactions, balances and unrealized gains on transactions between Group companies are eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. At October 31, 2019, the Group had an 84.24% (2018: 81.05%; 2017: 74.70%) interest in Novell Japan Ltd which gives rise to the minority interest reported in these financial statements (note 32). C Assets held for sale and discontinued operations A current asset (or disposal group) is classified as held for sale if the Group will recover the carrying amount principally through a sale transaction rather than through continuing use. A current asset (or disposal group) classified as held for sale is measured at the lower of its carrying amount and fair value less costs to sell. If the asset (or disposal group) is acquired as part of a business combination it is initially measured at fair value less costs to sell. Assets and liabilities of disposal groups classified as held for sale are shown separately on the face of the balance sheet. The results of discontinued operations are shown as a single amount on the face of the Consolidated statement of comprehensive income comprising the post-tax profit or loss of discontinued operations and the post-tax gain or loss recognized either on measurement to fair value less costs to sell or on the disposal of the discontinued operation. The Consolidated statement of cash flows has been presented including the discontinued operations. D Revenue recognition On November 1, 2018, the Group adopted IFRS 15 using the modified retrospective approach which means that the cumulative impact of the adoption was recognized in retained earnings as of November 1, 2018 and that comparatives are not restated. IFRS 15 replaces guidance in IAS 18 and IAS 11. The accounting policies applied under IAS 18 and IAS 11 in the comparative period are presented below under the heading ‘Revenue recognition policy in the prior period’. This standard establishes a new principle-based model of recognizing revenue from customer contracts. It introduces a five-step model that requires revenue to be recognized when control over goods and services are transferred to the customer. Additionally, there is a requirement in the new standard to capitalize certain incremental contract costs. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Group follows the five-step model and recognizes revenue on transfer of control of promised goods or services to customers in an amount that reflects the consideration, which the Group expects to be entitled in exchange for those goods, or services. Customer contracts can include combinations of goods and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is allocated to the various performance obligations on a relative stand-alone selling price (“SSP”) basis. On an on-going basis, the Group utilizes available data points based on relevant historical transactions, to establish the observable stand-alone selling prices to be used in allocating transaction consideration. For observable stand-alone sales a reasonable range of prices will be determined to represent the stand-alone selling price of that performance obligation. Given the highly variable selling price of licences, the Group has not established SSP for licences. When SSP is established for the undelivered performance obligations (typically maintenance and professional services), the residual approach is used to allocate the transaction price to the delivered licences. For performance obligations where observable stand-alone sales are not available, SSP will be estimated using the following methods in the order set out below: - Market price - Expected cost plus a margin - Residual approach The Group recognizes revenues from sales of software licences (including Intellectual Property and Patent rights) to end-users, resellers and Independent Software Vendors (“ISV”), software maintenance, subscription, Software as a Service (“SaaS”), technical support, training and professional services. ISV revenue includes fees based on end usage of ISV applications that have our software embedded in their applications. Software licence revenue is the sale of right to use the software on customer premises and is recognized at a point in time when the software is made available to the customer and/or reseller (i.e. when control of the asset is transferred). The Group enters into licence verification arrangements, for customers who are not in compliance with their contractual licence and/or maintenance terms, by agreeing a one-off settlement fee. If the performance obligation can be identified in the contract, revenue is allocated to each performance obligation, otherwise the Group policy is to recognize it as licence revenue. The allocation of revenue does not impact the timing of revenue recognition in these deals, given the performance obligation(s) have already been fulfilled, but will impact the presentation of revenue recognized during the period, (as licence or licence and maintenance). For Subscriptions and SaaS arrangements where customers access the functionality of a hosted software over the contract period without taking possession of the software, and performance obligations are provided evenly over a defined term, the Group recognizes revenue over the period in which the subscriptions are provided as the service is delivered, generally on a straight-line basis. In SaaS arrangements where the customer has the contractual right to take possession of the software at any time during the contractual period without significant penalty and the customer can operate, or contract with another vendor to operate the software, the Group evaluates whether the arrangement includes the sale of a software licence. In SaaS arrangements where software licences are sold, licence revenue is generally recognized at a point in time when control of the software is transferred to the customer. Maintenance revenue is recognized on a straight-line basis over the term of the contract, which in most cases is one year. For time and material-based professional services contracts, the Group recognizes revenue as services are rendered. The Group recognizes revenue from fixed-price professional services contracts as work progresses over the contract period on a percentage of completion basis, as determined by the percentage of labor costs incurred to date compared to the total estimated labor costs of a contract. Estimates of total project costs for fixed-price contracts are regularly reassessed during the life of a contract. Service costs are expensed as incurred; amounts collected prior to satisfying the above conditions are shown as contract liability and included in deferred income. Rebates paid to resellers as part of a contracted program are accounted for as a reduction of the transaction price and netted against revenue where the rebate paid is based on the achievement of sales targets made by the partner. If the Group receives an identifiable good or service from the reseller that is separable from the sales transaction and for which fair value can be reasonably estimated, the Group accounts for the purchase of the good or service in the same way that it accounts for other purchases from suppliers. Revenue recognition policy in the prior periods The Group recognized revenues from sales of software Licences (including Intellectual Property and Patent rights), to end-users, resellers and Independent Software Vendors (“ISV”), software maintenance, subscription, Software as a Service (“SaaS”), technical support, training and professional services, upon firm evidence of an arrangement, delivery of the software and determination that collection of a fixed or determinable fee is reasonably assured. ISV revenue included fees based on end usage of ISV applications that have our software embedded in their applications. When the fees for software upgrades and enhancements, maintenance, consulting and training were bundled with the Licence fee, they were unbundled using the Group’s objective evidence of the fair value of the elements represented by the Group’s customary pricing for each element in separate transactions. If evidence of fair value existed for all undelivered elements and there was no such evidence of fair value established for delivered elements, revenue was first allocated to the elements where fair value has been established and the residual amount was allocated to the delivered elements. If evidence of fair value for any undelivered element of the arrangement did not exist, all revenue from the arrangement was deferred until such time that there was evidence of delivery. If the arrangement included acceptance criteria, revenue was not recognized until the Group could objectively demonstrate that the acceptance criteria have been met, or the acceptance period lapses, whichever was earlier. The Group recognized Licence revenue derived from sales to resellers upon delivery to resellers, provided that all other revenue recognition criteria was met; otherwise revenue was deferred and recognized upon delivery of the product to the end-user. Where the Group sold access to a Licence for a specified period of time and collection of a fixed or determinable fee was reasonably assured, Licence revenue was recognized upon delivery, except in instances where future substantive upgrades or similar performance obligations were committed to. Where future performance obligations were specified in the Licence agreement, and fair value could be attributed to those upgrades, revenue for the future performance obligations was deferred and recognized on the basis of the fair value of the upgrades in relation to the total estimated sales value of all items covered by the Licence agreement. Where the future performance obligations were unspecified in the Licence agreement, revenue was deferred and recognized rateably over the specified period. For Subscription revenue where access and performance obligations were provided evenly over a defined term, the revenue was deferred and recognized rateably over the specified period. The Group recognized revenue for SaaS arrangements as the service was delivered, generally on a straight-line basis, over the contractual period of performance. In SaaS arrangements, the Group considered the rights provided to the customer (e.g. whether the customer has the contractual right to take possession of the software at any time during the contractual period without significant penalty, and the feasibility of the customer to operate or contract with another vendor to operate the software) in determining whether the arrangement included the sale of a software licence. In SaaS arrangements where software licences were sold, licence revenue was generally recognized according to whether perpetual or term licences are sold, when all other revenue recognition criteria was satisfied. Maintenance revenue was recognized on a straight-line basis over the term of the contract, which in most cases was one year. For time and material-based professional services contracts, the Group recognized revenue as services are rendered and recognized costs as they were incurred. The Group recognized revenue from fixed-price professional services contracts as work progressed over the contract period on a proportional performance basis, as determined by the percentage of labour costs incurred to date compared to the total estimated labour costs of a contract. Estimates of total project costs for fixed-price contracts were regularly reassessed during the life of a contract. Amounts collected prior to satisfying the above revenue recognition criteria were included in deferred income. Rebates paid to partners as part of a contracted program were netted against revenue where the rebate paid was based on the achievement of sales targets made by the partner, unless the Company received an identifiable good or service from the partner that was separable from the sales transaction and for which the Group could reasonably estimate fair value. E Contract-related costs The Group capitalizes the costs of obtaining a customer contract when they are incremental and, if expected to be recovered, they are amortized over the customer life or pattern of revenue for the related contract. Normally sales commissions paid for customer contract renewals are not commensurate with the commissions paid for new contracts. It follows that the commissions paid for new contracts also relate to expected future renewals of these contracts. Accordingly, the Group amortizes sales commissions paid for new customer contracts on a straight-line basis over the expected customer life, based on expected renewal frequency. The current average customer life is five years. If the expected amortization period is one year or less the costs are expensed when incurred. Amortization of the capitalized costs of obtaining customer contracts is classified as sales and marketing expense. Capitalized costs from customer contracts are classified as non-financial assets in our statement of financial position. F Cost of sales Cost of sales includes costs related to the amortization of product development costs, amortization of acquired technology intangibles, costs of the consulting business and helpline support and royalties payable to third parties. G Segment reporting In accordance with IFRS 8, ‘Operating Segments’, the Group has derived the information for its segmental reporting using the information used by the Chief Operating Decision Maker (“CODM”), defined as the Operating Committee. The segmental reporting is consistent with those used in internal management reporting and the measure used by the Operating Committee is the Adjusted EBITDA, as set out in note 1. H Exceptional items Exceptional items are those significant items, which are separately disclosed by virtue of their size, nature or incidence to enable a full understanding of the Group’s financial performance. In setting the policy for exceptional items, judgment is required to determine what the Group defines as ‘exceptional’. The Group considers an item to be exceptional in nature if it is material, non-recurring or does not reflect the underlying performance of the business. Exceptional items are allocated to the financial statement lines (for example: cost of sales) in the Consolidated statement of comprehensive income based on the nature and function of the costs, for example restructuring costs related to employees are classified where their original employment costs are recorded. Management of the Group first evaluates Group strategic projects such as acquisitions, divestitures and integration activities, Group restructuring and other one-off events such as restructuring programs. In determining whether an event or transaction is exceptional, management of the Group considers quantitative and qualitative factors such as its expected size, precedent for similar items and the commercial context for the particular transaction, while ensuring consistent treatment between favorable and unfavorable transactions impacting revenue, income and expense. Examples of transactions which may be considered of an exceptional nature include major restructuring programs, cost of acquisitions, the cost of integrating acquired businesses or gains on the disposal of discontinued operations. I Employee benefit costs a) Pension obligations and long-term pension assets The Group operates various pension schemes, including both defined contribution and defined benefit pension plans. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. For defined contribution plans the Group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognized as an employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement or termination. This is usually dependent on one or more factors such as age, years of service and compensation. The liability recognized in the Consolidated statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. Certain long-term pension assets do not meet the definition of plan assets as they have not been pledged to the plan and are subject to the creditors of the Group. Such assets are recorded separately in the Consolidated statement of financial position as long-term pension assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that have terms to mature approximating to the terms of the related pension obligation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Past-service costs are recognized immediately in income. The current service cost of the defined benefit plan, recognized in the Consolidated statement of comprehensive income in employee benefit expense, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current year, benefit changes, curtailments and settlements. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in finance costs in the Consolidated statement of comprehensive income. Long-term pension assets relate to the reimbursement right under insurance policies held in the Group with guaranteed interest rates that do not meet the definition of a qualifying insurance policy as they have not been pledged to the plan and are subject to the creditors of the Group. Such reimbursement rights assets are recorded in the Consolidated statement of financial position as long-term pension assets. These contractual arrangements are treated as financial assets measured at fair value through other comprehensive income. Gains and losses on long-term pension assets are charged or credited to equity in other comprehensive income in the period in which they arise. b) Share based compensation The Group operated various equity-settled, share based compensation plans during the period. The fair value of the employee services received in exchange for the grant of the shares or options is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the shares or options granted. Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable. Market vesting conditions are taken into account when determining the fair value of the options at grant date. At each Consolidated statement of financial position date, the Group revises its estimates of the number of options that are expected to become exercisable. It recognizes the impact of the revision of original estimates, if any, in the Consolidated statement of comprehensive income, and a corresponding adjustment to equity over the current reporting period. The shares are recognized when the options are exercised and the proceeds received allocated between ordinary shares and share premium account. Fair value is measured using the Black-Scholes pricing model. The expected life used in the model has been adjusted, based on management’s best estimate for the effects of non-transferability, exercise restrictions and behavioral considerations. The Additional Share Grants have been valued using the Monte-Carlo simulation pricing model. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair-value of the unmodified award, provided the original terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. The social security contributions payable in connection with the grant of the share options is considered an integral part of the grant itself, and the charge is treated as a cash-settled transaction. J Foreign currency translation a) Functional and presentation currency The presentation currency of the Group is US dollars. Items included in the financial statements of each of the Group’s entities are measured in the functional currency of each entity. b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the Consolidated statement of comprehensive income within administrative expenses. Non-monetary items that are measured in terms of historical costs in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments (including purchased intangible assets) to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the closing rate. On consolidation, the results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: i) Assets and liabilities for each Consolidated statement of financial position presented are translated at the closing rate at the date of that Consolidated statement of financial position; ii) Income and expenses for each Consolidated statement of comprehensive income item are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and iii) All resulting exchange differences are recognized as a separate component of equity. On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to other comprehensive income. Goodwill arising before May 1, 2004 is treated as an asset of the Company and expressed in the Company’s functional currency. c) Exchange rates The most important foreign currencies for the Group are Pounds Sterling, the Euro, Canadian Dollar, Israeli Shekel and Japanese Yen. The exchange rates used are as follows: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Average Closing Average Closing Average Closing £1 = $ 1.27 1.29 1.33 1.27 1.29 1.29 €1 = $ 1.12 1.12 1.18 1.14 1.09 1.09 C$ = $ 0.75 0.76 0.78 0.76 0.76 0.73 ILS = $ 0.28 0.28 0.28 0.27 0.26 0.28 100 JYP = $ 1.10 1.08 0.90 0.92 0.91 0.90 K Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. Each of those cash-generating units represents the Group’s investment in each area of operation by each primary reporting segment. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is classified as held for sale, the goodwill associated with the held-for-sale operation is measured based on the relative values of the held-for-sale operation and the portion of the cash-generating unit retained. b) Computer software Computer software licences are capitalized on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortized using the straight-line method over their estimated useful lives of three to seven years. c) Research and development Research expenditure is recognized as an expense as incurred in the Consolidated statement of comprehensive income in research and development expenses. Costs incurred on product development projects relating to the developing of new computer software programs and significant enhancement of existing computer software programs are recognized as intangible assets when it is probable that the project will be a success, considering its commercial and technological feasibility, and costs can be measured reliably. Only direct costs are capitalized which are the software development employee costs and third-party contractor costs. Product development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Product development costs are amortized from the commencement of the commercial production of the product on a straig |
Segmental reporting
Segmental reporting | 12 Months Ended |
Oct. 31, 2019 | |
Segmental reporting [Abstract] | |
Segmental reporting | 1 Segmental reporting In accordance with IFRS 8, “Operating Segments”, the Group has derived the information for its segmental reporting using the information used by the Chief Operating Decision Maker for the purposes of resource allocation and assessment of segment performance. The Chief Operating Decision Maker (“CODM”) is defined as the Operating Committee. For the 12 months ended April 30, 2017 the Chief Operating Decision Marker (“CODM”) was defined as the Executive Committee. On July 2, 2018, the Group announced the proposed sale of SUSE, one of the Group’s two historical operating segments, approved by the shareholders on August 21, 2018. As a result, for management purposes, following the agreement to dispose of the SUSE business, which is presented as a discontinued operation, the Group is organized into a single reporting segment comprising the Micro Focus Product Portfolio. Consistent with this the Chief Executive Officer of SUSE, Nils Brauckmann, stepped down from the Board on July 11, 2018 to concentrate on the sale. As such, the CODM from July 11, 2018 consisted of the Executive Chairman, the Chief Executive Officer and the Chief Financial Officer. For the 12 months to October 31, 2019, the CODM consisted of the Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Vice President Strategy and Planning and the Chief HR Officer. With the disposal of the SUSE business completed, the Group is organized into a single reporting segment. The Group’s segment under IFRS 8 is: Micro Focus Product Portfolio The segmental reporting is consistent with that used in internal management reporting and the profit measure used by the Operating Committee is Adjusted EBITDA. The internal management reporting that the Operating Committee receives includes a pool of centrally managed costs, which were allocated between Micro Focus and the SUSE business (up to the date of disposal) based on identifiable segment specific costs with the remainder allocated based on other criteria including revenue and headcount. 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 1 Note $m $m $m Reconciliation to Adjusted EBITDA: (Loss)/profit before tax (34.1 ) 34.1 131.6 Finance costs 6 282.4 350.4 96.8 Finance income 6 (26.6 ) (7.7 ) (1.0 ) Depreciation of property, plant and equipment 12 66.5 88.6 9.7 Amortization of intangible assets 11 716.5 903.1 206.7 Exceptional items (reported in Operating profit) 4 294.2 538.2 97.2 Share-based compensation charge 33 68.8 64.3 31.5 Product development intangible costs capitalized 11 (16.5 ) (44.4 ) (27.6 ) Foreign exchange loss/(credit) 3 11.3 (37.4 ) (2.9 ) Adjusted EBITDA 1,362.5 1,889.2 542.0 1 For the reportable segment, the total assets were $14,294.8m and the total liabilities were $8,018.5m as at October 31, 2019. No measure of total assets and total liabilities has been reported for the 18 months ended October 31, 2018 and the 12 months ended April 30, 2017 as these were not regularly provided to the CODM. |
Supplementary information
Supplementary information | 12 Months Ended |
Oct. 31, 2019 | |
Disclosure of Supplementary information [Abstract] | |
Supplementary information | 2 Supplementary information Analysis by geography The Group is domiciled in the UK. The Group’s total segmental revenue from external customers by geographical location is detailed below: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m UK 206.9 299.6 52.2 USA 1,523.0 2,279.8 551.5 Germany 220.7 309.5 86.8 France 123.3 195.5 43.2 Japan 108.6 145.8 42.4 Other 1,165.9 1,524.2 301.2 Total 3,348.4 4,754.4 1,077.3 The total of non-current assets other than financial instruments and deferred tax assets as at October 31, 2019 located in the USA is $4,623.0m (October 31, 2018: $5,145.8m), the total in the non-USA is $8,192.2m (October 31, 2018: $8,488.3m). They exclude trade and other receivables, derivative financial instruments and deferred tax. As at April 30, 2017 the total of non-current assets other than financial instruments and deferred tax assets located in the UK was $147.7m, the total in the USA was $3,778.7m and the total of such non-current assets located in other countries was $67.3m. They exclude trade and other receivables, derivative financial instruments and deferred tax. Analysis of revenue from contracts with customers 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $ $m $m Revenue from contracts with customers 3,348.4 4,754.4 1,077.3 Being: Recognized over time: Maintenance revenue 2,051.6 2,818.9 720.7 SaaS & other recurring revenue 278.9 365.1 - 2,330.5 3,184.0 720.7 Recognized at point in time: Licence revenue 800.0 1,206.1 308.4 Consulting revenue 217.9 364.3 48.2 1,017.9 1,570.4 356.6 Total revenue 3,348.4 4,754.4 1,077.3 Analysis of revenue by product Set out below is an analysis of revenue from continuing operations recognized between the principal product portfolios for the 12 months ended October 31 2019, 18 months ended October 31 2018 and 12 months ended April 30, 2017. As a result of the acquisition of HPE Software business the Group’s product portfolios have been redefined. The comparatives for the 12 months ended April 30, 2017 have not been represented into the new product portfolios. 12 months ended October 31, 2019: Licence Maintenance Consulting SaaS & other recurring Total $m $m $m $m $m Application Modernization & Connectivity 170.9 326.1 11.7 - 508.7 Application Delivery Management 130.3 485.4 18.2 87.8 721.7 IT Operations Management 237.5 645.8 127.5 11.0 1,021.8 Security 185.7 416.7 43.9 35.0 681.3 Information Management & Governance 75.6 183.6 16.6 145.9 421.7 Subtotal 800.0 2,057.6 217.9 279.7 3,355.2 Deferred revenue haircut - (6.0 ) - (0.8 ) (6.8 ) Total Revenue 800.0 2,051.6 217.9 278.9 3,348.4 18 months ended October 31, 2018: Licence Maintenance Consulting SaaS & other recurring Total $m $m $m $m $m Application Modernization & Connectivity 256.3 497.6 17.9 - 771.8 Application Delivery Management 185.5 646.7 41.6 114.1 987.9 IT Operations Management 363.1 869.9 192.8 15.1 1,440.9 Security 291.6 580.2 81.4 41.6 994.8 Information Management & Governance 117.2 267.2 32.6 203.1 620.1 Subtotal 1,213.7 2,861.6 366.3 373.9 4,815.5 Deferred revenue haircut (7.6 ) (42.7 ) (2.0 ) (8.8 ) (61.1 ) Total Revenue 1,206.1 2,818.9 364.3 365.1 4,754.4 12 months ended April 30, 2017: Licence Maintenance Consulting SaaS & other recurring Total $m $m $m $m $m Application Modernization & Connectivity 106.0 149.7 9.5 - 265.2 Application Delivery Management 69.1 104.9 1.9 - 175.9 IT Operations Management 48.6 141.3 18.4 - 208.3 Security 55.5 219.6 13.8 - 288.9 Information Management & Governance 29.2 112.1 4.6 - 145.9 Subtotal 308.4 727.6 48.2 - 1,084.2 Deferred revenue haircut - (6.9 ) - - (6.9 ) Total Revenue 308.4 720.7 48.2 - 1,077.3 |
Profit before tax
Profit before tax | 12 Months Ended |
Oct. 31, 2019 | |
Disclosure of Profit before tax [Abstract] | |
Profit before tax | 3 Profit before tax The (loss)/profit before tax is stated after charging/(crediting) the following operating costs/(gains) classified by the nature of the costs/(gains): 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Staff costs 33 1,409.0 2,095.0 480.7 Depreciation of property, plant and equipment: - owned assets 12 52.6 71.2 9.7 - leased assets 12 13.9 17.4 - Loss on disposal of property, plant and equipment 12 3.6 4.7 0.5 Amortization of intangibles 11 716.5 903.1 206.7 Inventories – cost of inventories recognized as a debit (included in cost of sales) 15 0.1 0.3 - Operating lease rentals payable: - plant and machinery 7.0 8.8 2.9 - property 58.9 85.3 18.4 Provision for receivables impairment 16 16.0 40.0 2.0 Foreign exchange gain on derivative financial instruments (6.9 ) - - Foreign exchange loss/(gain) 18.2 (37.4 ) (2.9 ) |
Exceptional items
Exceptional items | 12 Months Ended |
Oct. 31, 2019 | |
Exceptional items [Abstract] | |
Exceptional items | 4 Exceptional items 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Reported within Operating profit: Note $m $m $m Integration costs 245.9 279.0 27.6 Pre-acquisition costs - 43.0 58.0 Acquisition costs 1.5 27.1 2.6 Property related costs 16.3 38.1 5.6 Severance and legal costs 32.1 129.7 3.4 Divestiture 2.1 21.3 - Gain on disposal of Atalla (3.7 ) - - 294.2 538.2 97.2 Reported within finance costs: Finance costs incurred in escrow period 6 - 6.4 - Reported within finance income: Finance income earned in escrow period 6 - (0.6 ) - - 5.8 - Exceptional costs before tax 294.2 544.0 97.2 Tax: Tax effect of exceptional items (54.3 ) (105.9 ) (11.6 ) Tax exceptional item - (692.3 ) - (54.3 ) (798.2 ) (11.6 ) Reported within profit from discontinued operation (attributable to equity shareholders of the Company): Gain on disposal of discontinued operation 37 (1,458.5 ) - - Exceptional profit after tax (1,218.6 ) (254.2 ) 85.6 Exceptional items are allocated to the financial statement lines (for example: cost of sales) in the Consolidated statement of comprehensive income based on the nature and function of the costs, for example restructuring costs related to employees are classified where their original employment costs are recorded. Integration costs Integration costs of $245.9m for the 12 months ended October 31, 2019 arose from the continuing work being done in integrating the HPE Software business into Micro Focus as referred to in Item 5.A. Operating results. Other activities include system and processes integration costs. Integration costs of $279.0m in the 18 months ended October 31, 2018 (12 months to April 30, 2017: $27.6m) arose mainly from the work done to integrate Serena, GWAVA and the HPE Software business into the Micro Focus business. Pre-acquisition costs There were no pre-acquisition costs for the 12 months to October 31, 2019. Pre-acquisition costs of $43.0m for the 18 months ended October 31, 2018 (12 month ended April 30, 2017: $58.0m) related to the evaluation of the acquisition of HPE Software business which was announced in October 2016 and was completed on September 1, 2017. The costs related to due diligence work, legal work on the acquisition agreements, professional advisors on the transaction and pre-integration costs. Acquisition costs The acquisition costs of $1.5m in the 12 months ended October 31, 2019 related mostly to acquisition of Interset Software Inc. (note 38). The acquisition costs in the 18 months ended October 31, 2018 of $27.1m included external costs in completing the acquisition of the HPE Software business and costs relating to the acquisition of COBOL-IT SAS. The external costs mainly relate to due diligence work, legal work on the acquisition agreements and professional advisors on the transaction. Costs of $2.6m in the 12 months to April 30, 2017 related to the acquisitions of Serena in May 2016 and GWAVA in October 2016. Property related costs Property related costs of $16.3m for the 12 months ended October 31, 2019 (18 months to October 31, 2018: $38.1m, 12 months to April 30, 2017: $5.6m) relate to the assessment and reassessment of leases on empty or sublet properties held by the Group, in particular in North America, and the cost of site consolidations resulting from the ongoing integration of the HPE software business into Micro Focus. Severance and legal costs Severance and legal costs of $32.1m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $129.7m, 12 months to April 30, 2017: $3.4m) relate mostly to termination costs for employees after acquisition, relating to the integration of the HPE Software business into Micro Focus. The costs for the 12 months ended April 30, 2017 of $3.4m related to termination costs for senior Serena executives after acquisition. Divestiture Divestiture costs of $2.1m for the 12 months ended October 31, 2019 relate mostly to employee activities (18 months ended October 31, 2018: $21.3m, 12 months to April 30, 2017: $nil) relate mostly to fees paid to professional advisors involved in the disposal of the SUSE business completed in 2019. Gain on disposal of Atalla The non-recurring gain on disposal of $3.7m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $nil) relates to Atalla business disposal (note 37). Finance income and finance costs Finance costs of $6.4m and finance income of $0.6m for the 18 months ended October 31, 2018 (12 months to April 30 2017: $nil) related to interest (charged and gained) on additional term loan facilities drawn down in relation to the acquisition of the HPE Software business, between the date the facilities were drawn into escrow and the acquisition date. No such income or costs arose in the 12 months ended October 31, 2019. Tax The tax effect of exceptional items on the income statement is a credit of $54.3m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $798.2m credit, 12 months to April 30, 2017: $11.6m). The exceptional tax credit of $692.3m in the 18 months ended October 31, 2018 (April 30, 2017: $nil) related to the impact of US tax reforms, comprised of a credit of $930.6m in respect of the re-measurement of deferred tax liabilities and a transition tax charge of $238.3m payable over eight years. Gain on disposal of discontinued operation The element of the profit for the period on the discontinued operation related to the gain on disposal is included as an exceptional item (note 37). |
Services provided by the Group'
Services provided by the Group's auditors and network of firms | 12 Months Ended |
Oct. 31, 2019 | |
Services provided by the Group's auditors and network of firms [Abstract] | |
Services provided by the Group's auditors and network of firms | 5 Services provided by the Group’s auditors and network of firms During the 12 months ended October 31, 2019, the Group obtained the following services from the Group’s auditors as detailed below which have been disclosed in line with the ICAEW Technical Release “Tech 14/13 FRF” guidance on the disclosure of auditor remuneration for the audit of accounts and other (non-audit) services, in accordance with the requirements of the Companies (Disclosure of Auditor Remuneration and Liability Agreements) Regulation 2008 (Statutory Instrument 2008/489) as amended: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Audit of Company 12.8 12.2 1.0 Audit of subsidiaries 3.9 1.9 2.5 Total audit 16.7 14.1 3.5 Audit related assurance services 3.6 0.9 2.6 Other assurance services - 0.7 - Total assurance services 3.6 1.6 2.6 Tax compliance services - 0.2 - Tax advisory services 0.1 0.2 0.1 Services relating to taxation 0.1 0.4 0.1 Other non-audit services - 0.1 7.5 Total 20.4 16.2 13.7 The 12 months ended October 31, 2019 fees and 18 months ended October 31, 2018 fees represent fees paid to KPMG LLP, as the current auditor. Fees for the years ended April 30, 2017 represent amounts paid to the previous auditor, PricewaterhouseCoopers LLP. Of the audit related assurance services engagements undertaken in the 12 months ended 31 October 2019 only one was considered to be significant. This related to the controls attestation of the Group’s implementation of Sarbanes-Oxley Section 404, for which a fee of $3.0m was paid. Audit related assurance services in the 18 months ended October 31, 2018 relate primarily to the additional audit procedures performed on the Micro Focus International plc financial statements that are included in US filings and two interim reviews, for both six-month periods ending October 31, 2017 and April 30, 2018. Other assurance services in the 18 months ended October 31, 2018 relate primarily to the auditor’s assurance work in relation to the SUSE divestiture and licence verification compliance work. The remaining non-audit services in the period included a limited amount of tax compliance and tax advice. |
Finance income and finance cost
Finance income and finance costs | 12 Months Ended |
Oct. 31, 2019 | |
Finance income and finance costs [Abstract] | |
Finance income and finance costs | 6 Finance income and finance costs 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Finance costs Interest on bank borrowings 225.4 276.5 81.2 Commitment fees 1.9 3.3 0.8 Amortization of facility costs and original issue discounts 46.7 60.4 14.2 Finance costs on bank borrowings 274.0 340.2 96.2 Net interest expense on retirement obligations 25 2.4 2.8 0.6 Finance lease expense 2.0 2.7 - Interest rate swaps: cash flow hedges, transfer from equity - 3.4 - Other 4.0 1.3 - Total 282.4 350.4 96.8 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Finance income Bank interest 16.3 3.6 0.4 Interest on non-plan pension assets 25 0.3 0.6 0.4 Interest rate swaps: cash flow hedges, transfer to equity 9.9 - - Other 0.1 3.5 0.2 Total 26.6 7.7 1.0 Net finance cost 255.8 342.7 95.8 Included within exceptional items Finance costs incurred in escrow period 4 - 6.4 - Finance income earned in escrow period 4 - (0.6 ) - - 5.8 - 7 Taxation |
Taxation
Taxation | 12 Months Ended |
Oct. 31, 2019 | |
Taxation [Abstract] | |
Taxation | 7 Taxation 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Current tax Current period 163.9 245.8 33.9 Adjustments to tax in respect of previous periods (35.3 ) (14.7 ) 1.7 128.6 231.1 35.6 Deferred tax Origination and reversal of temporary differences (139.7 ) 26.4 (22.4 ) Adjustments to tax in respect of previous periods 24.5 1.2 (4.4 ) Previously unrecognized temporary differences (29.4 ) - - Impact of change in tax rates - (931.8 ) (1.3 ) (144.6 ) (904.2 ) (28.1 ) Total tax (credit)/expense (16.0 ) (673.1 ) 7.5 For the 12 months ended October 31, 2019, a deferred tax debit of $7.6m (18 months ended October 31, 2018: $23.7m debit; 12 months ended April 30, 2017: $23.0m credit) and current tax credit of $13.1m (18 months ended October 31, 2018: $4.1m credit, 12 months ended April 30, 2017: $4.1m credit) have been recognized in equity in relation to share options. A current tax credit of $23.3m (18 months ended October 31, 2018: $16.4m debit) has been recognized in the hedging reserve (note 31). In addition, a deferred tax credit of $13.0m (18 months ended October 31, 2018: $4.3m credit, 12 months ended April 30, 2017: $0.3m debit) has been recognized in the Consolidated statement of comprehensive income in relation to defined benefit pension schemes and a deferred tax credit of $14.0m (18 months ended October 31, 2018: $nil, 12 months ended April 30, 2017: $nil) in relation to foreign exchange movements on intangibles. The tax charge for the 12 months ended October 31, 2019 is higher than the standard rate of corporation tax in the UK of 19.00% (18 months ended October 31, 2018: 19.00%; 12 months ended April 30, 2017: 19.92%). The differences are explained below: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m (Loss)/profit before taxation (34.1 ) 34.1 131.6 Tax at UK corporation tax rate 19.00% (2018: 19.00%; 2017: 19.92%) (6.5 ) 6.5 26.0 Effects of: Tax rates other than the UK standard rate (4.4 ) 17.8 0.6 Intra-Group financing (42.8 ) (52.5 ) (15.7 ) Interest restrictions - 31.8 - Innovation tax credit benefits (13.5 ) (21.4 ) (9.8 ) US foreign inclusion income 43.7 39.0 0.4 US transition tax - 238.3 - Share options 7.1 10.2 - Movement in deferred tax not recognized 14.4 7.3 0.2 Previously unrecognized temporary differences (29.4 ) - - Effect of change in tax rates - (931.9 ) (1.3 ) Expenses not deductible and other permanent differences 26.2 (4.7 ) 9.8 (5.2 ) (659.6 ) 10.2 Adjustments to tax in respect of previous periods: Current tax (35.3 ) (14.7 ) 1.7 Deferred tax 24.5 1.2 (4.4 ) (10.8 ) (13.5 ) (2.7 ) Total taxation (16.0 ) (673.1 ) 7.5 The Group continues to benefit from the UK’s Patent Box regime, US R&D tax credits and other innovation-based tax credits offered by certain jurisdictions, the benefit for the 12 months ended October 31, 2019 being $13.5m (18 months ended October 31, 2018: $21.4m, 12 months ended April 30, 2017: $9.8m). The Group realized benefits in relation to intra-Group financing of $42.8m for the 12 months ended October 31, 2019 ($52.5m for the 18 months ended October 31, 2018; 12 months ended April 30, 2017: $15.7m). The benefits mostly relate to arrangements put in place to facilitate the acquisitions of the HPE Software business, The Attachmate Group and Serena. US foreign inclusion income of $43.7m arising in the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $39.0m; 12 months ended April 30 2017: $0.4m) is largely driven by new US tax legislation introduced as part of US tax reforms in 2018. The Group recognized a net overall charge in respect of share options due to deferred tax credits arising on options held at the balance sheet date being lower than the current tax charge because of the terms of the options. During the period the directors reassessed the deferred tax asset recognized in relation to interest restrictions and have recognized an asset to the extent that sufficient taxable temporary differences exist at the balance sheet date. Previously a deferred tax asset was not recognized as the directors forecast that the Group would be unable to utilize the interest restrictions in future periods. This has resulted in a credit of $29.4m in the period in respect of historical interest amounts, recognized as previously unrecognized temporary differences above. The movement in deferred tax assets and liabilities during the period is analyzed in note 28. The expenses not deductible and other permanent differences charge of $26.2m (18 months ended October 31, 2018: $4.8m credit; 12 months ended April 30, 2017: $9.8m) included $8.1m in relation to uncertain tax positions and $6.1m related to irrecoverable withholding tax. The Group realized a net credit in relation to the true-up of prior period, current and deferred tax estimates of $10.8m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $13.5m; 12 months ended April 30, 2017: $2.7m). The Group’s tax charge is subject to various factors, many of which are outside the control of the Group, including changes in local tax legislation, and specifically US tax reform, the OECD’s Base Erosion and Profit Shifting project and the consequences of Brexit. In April 2019, the European Commission published its final decision on its state aid investigation into the UK’s “Financing Company Partial Exemption” legislation and concluded that part of the legislation is in breach of EU State Aid rules. Similar to other UK based international groups that have acted in accordance with the UK legislation in force at the time, the Group may be affected by the finding and is monitoring developments. The UK Government and UK-based international companies, including the Group, have appealed to the General Court of the European Union against the decision. The UK Government is required to start collection proceedings in advance of the appeal results and it is possible that the Group will be required to make a payment in the year ending October 31, 2020. If the decision of the European Commission is upheld, the Group have calculated the maximum potential liability to be $60.3m. Based on its current assessment the Group believes that no provision is required in respect of this issue. The UK legislation affected by this EU Commission finding was amended on January 1, 2019 to be compliant with EU law and therefore no longer impacts the Group and so no additional tax liability will accrue in future periods that could be subject to the same challenge. |
Dividends
Dividends | 12 Months Ended |
Oct. 31, 2019 | |
Dividends [Abstract] | |
Dividends | 8 Dividends 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Equity - ordinary $m $m $m Final paid 58.33 cents (2018: 58.33 cents, 2017: 49.74 cents) per ordinary share 240.7 133.9 111.0 First Interim paid 58.33 cents (2018: 34.60 cents; 2017: 29.73 cents) per ordinary share 198.5 156.2 66.5 Second Interim paid nil cents (2018: 58.33 cents; 2017: nil cents) per ordinary share - 252.1 - 439.2 542.2 177.5 The directors announced a final dividend of 58.33 cents per share payable on May 7, 2020 to shareholders who are registered at April 14, 2020. This final dividend, amounting to $194.5m, has not been recognized, as a liability as at October 31, 2019. |
Earnings per share
Earnings per share | 12 Months Ended |
Oct. 31, 2019 | |
Earnings per share [Abstract] | |
Earnings per share | 9 Earnings per share The calculation of the basic earnings per share has been based on the earnings attributable to owners of the parent and the weighted average number of shares for each period. Reconciliation of the earnings and weighted average number of shares: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Earnings ($m) (Loss)/profit for the period from continuing operations (18.1 ) 707.2 124.1 Profit for the period from discontinued operation 1,487.2 76.9 33.7 1,469.1 784.1 157.8 Number of shares (m) Weighted average number of shares 378.1 388.7 229.2 Dilutive effects of shares 4.1 11.0 8.2 382.2 399.7 237.4 Earnings per share Basic earnings per share (cents) Continuing operations (4.87 ) 181.91 54.17 Discontinued operation 393.37 19.79 14.71 Total Basic earnings per share 388.50 201.70 68.88 Diluted earnings per share (cents) Continuing operations 1 (4.87 ) 176.92 52.31 Discontinued operation 389.16 19.25 14.20 Total Diluted earnings per share 1 384.35 196.17 66.51 Basic earnings per share (pence) Continuing operations (3.82 ) 136.73 41.88 Discontinued operation 308.89 14.88 11.37 Total Basic earnings per share 305.07 151.61 53.25 Diluted earnings per share (pence) Continuing operations 1 (3.82 ) 132.98 40.44 Discontinued operation 305.59 14.47 10.98 Total Diluted earnings per share 1 301.81 147.45 51.42 Earnings attributable to ordinary shareholders From continuing operations (18.1 ) 707.2 124.1 Excluding non-controlling interests (0.3 ) (0.1 ) 0.1 (Loss)/profit for the period from continuing operations (18.4 ) 707.1 124.2 From discontinued operation 1,487.2 76.9 33.7 1,468.8 784.0 157.9 Average exchange rate $ 1.27/£1 $ 1.33/£1 $ 1.29/£1 1 The weighted average number of shares excludes treasury shares that do not have dividend rights (note 29). |
Goodwill
Goodwill | 12 Months Ended |
Oct. 31, 2019 | |
Goodwill [Abstract] | |
Goodwill | 10 Goodwill October 31, 2019 October 31, 2018 Note $m $m Cost and net book amount At November 1 /May 1 6,805.0 2,828.6 Acquisitions 38 26.8 4,863.9 Effects of movements in exchange rates (160.5 ) - Reclassification to assets held for sale 37 - (887.5 ) 6,671.3 6,805.0 A segment-level summary of the goodwill allocation is presented below: Micro Focus 6,671.3 6,805.0 Goodwill acquired through business combinations has been allocated to a cash-generating unit (“CGU”) for the purpose of impairment testing. The goodwill arising in the 12 months ended October 31, 2019, related to the acquisition of Interset Software Inc. of $26.8m (note 38) has been allocated to the Micro Focus CGU as this is consistent with the segment reporting that is used in internal management reporting. Of the additions to goodwill, all amounts are expected to be deductible for tax purposes. The goodwill arising in the 18 months ended October 31, 2018 related to the acquisition of the HPE Software business of $4,858.3m (note 38) and COBOL-IT, SAS (“COBOL-IT”) $5.6m (note 38), have been allocated to the Micro Focus CGU as this is consistent with the segment reporting that is used in internal management reporting. Of the additions to goodwill, there were no amounts expected to be deductible for tax purposes. In addition, during the year, following a review of the allocation of goodwill to foreign operations, the directors have determined that goodwill of $6,497.5m, which arose on previous acquisitions (in particular the acquisitions of the HPE Software business on September 1, 2017 and The Attachmate Group on November 20, 2014, being the two most significant) should have been allocated into functional currencies of the underlying foreign operations. The re-denomination has given rise to a total reduction in the carrying value of goodwill of $160.5m, as a result of foreign exchange movement, that has been recognized in the 12 months ended October 31, 2019. Had this allocation taken place from the acquisition dates, a $154.9m decrease in the carrying value of goodwill would have been recognized in the 18 months ended October 31, 2018 and a cumulative decrease of $69.4m in the carrying value would have been recognized as at May 1, 2017. As this change has no impact on the Group’s profit before taxation, or statement of cash flows and as the net prior-period impact of $224.3m is not material in the context of the overall value of goodwill or net assets, it is, in the judgment of the directors, appropriate to affect the change in allocation in the current period. Movements in Other comprehensive income are not considered a key performance metric. This change in the carrying value of $160.5m is a part of the amount reflected in the line “effect of movements in exchange rates” in the table above. The change has been recognized within “currency translation differences – continuing operations” in other comprehensive income, and subsequently the translation reserve in equity. This adjustment has had no impact on the conclusion of the Group’s annual impairment review. Impairment test Impairment of goodwill is tested annually, or more frequently where there is indication of impairment. An impairment test is a comparison of the carrying value of the assets of the CGU with their recoverable amount. Where the recoverable amount is less than the carrying value, an impairment results. The Group performed its annual test for impairment as at October 31, 2019 (2018: October 31, 2018), incorporating its knowledge of the business into that testing and noting at that date the market capitalization was less than the net assets of the Group, which was taken into account during the impairment test. The recoverable amount of the Micro Focus CGU is determined based on its Value In Use (“VIU”). The VIU includes estimates about the future financial performance of the CGU and is based on five-year projections and then a terminal value calculation. It utilizes discounted board approved forecasts for the first four years and the fifth year reflects management’s expectation of the long-term growth prospects which have been applied based upon the expected operating performance of the CGU and growth prospects in the CGU’s market. The cash flow projections and inputs combine past performance with adjustments as appropriate where the directors believe that past performance and rates are not indicative of future performance and rates. The VIU calculation excludes the cash outflow and resulting cash inflow assumptions arising from the investment decisions made in the Strategic Review and which are included within the board approved forecasts. Impairment reviews under IAS 36 are required to exclude the estimated cash inflow and outflows arising from improving or enhancing the performance of existing assets, and therefore the impairment test performed in the current year considers the recoverable amount of the CGU based on its current condition without the impact of the approved investment plans. Key assumptions Key assumptions in the VIU are considered to be the discount rate, medium term annual revenue growth rate by product group and the long-term cash flow growth rate. These have been assessed taking into consideration the current economic climate and the resulting impact on expected growth and discount rates. The medium-term annual revenue growth rate by product group, long-term cash flow growth rate and discount rate used in the VIU calculation are: 2019 2018 Long-term cash flow growth rate 1.0 % 1.0 % Pre-tax discount rate 1 10.3 % 9.7 % Medium term annual revenue growth rate by product group 2 (2.0)% to 2.1 % - 1 2 Sensitivity analysis The results of the sensitivity analysis are set out below. In undertaking this analysis, the directors have considered reasonably possible changes in the key assumptions that could have an adverse impact, taking into consideration that the Group is insulated from some significant adverse impacts by its geographical spread and that the Group’s cost base is flexible and could quickly respond to market changes. The headroom and breakeven sensitivities disclosed below are on the VIU calculation which, as explained above, excludes the cash outflow and resulting cash inflow assumptions arising from the investment decisions made in the Strategic Review. The directors have assessed that a reasonably possible change in the discount rate is an absolute movement of 2.0% (2018: 2.0%) and this increase would cause the carrying value of the Micro Focus CGU to exceed its recoverable amount. An increase in the discount rate of 0.4% to 10.7% (2018: increase of 1.3% to 11.0%) would reduce the amount by which the recoverable amount exceeds its carrying value from $0.5bn to $nil (2018: from $2.2bn to $nil). The directors have assessed that a reasonably possible change in the average of the medium-term annual revenue growth rate by product group is an absolute reduction of 2.0% and this decrease would cause the carrying value of the Micro Focus CGU to exceed its recoverable amount (2018: not a reasonably possible change). A decrease in the average of the medium-term annual revenue growth rate by product group of 0.7% would reduce the amount by which the recoverable amount exceeds its carrying value from $0.5bn to $nil. This sensitivity has been presented exclusive of mitigating actions, such as cost saving, that would be taken in such a scenario and which would at least partially offset such a reduction in cash flows. The directors have also assessed that there is not a reasonably possible change in the long-term cash flow growth rate that would reduce the recoverable amount to below its carrying value. No impairment charge resulted from the goodwill tests for impairment in the 12 months ended October 31, 2019 (18 months ended October 31, 2018: no impairment). |
Other intangible assets
Other intangible assets | 12 Months Ended |
Oct. 31, 2019 | |
Other intangible assets [Abstract] | |
Other intangible assets | 11 Other intangible assets Purchased intangibles Purchased software Product development costs Technology Trade names Customer relationships Lease contracts Total Note $m $m $m $m $m $m $m Cost At November 1, 2018 141.1 259.1 2,158.5 267.7 5,377.2 15.0 8,218.6 Acquisitions – Interset Software Inc. 38 - - 44.5 4.2 12.5 - 61.2 Additions 12.3 16.5 - - - - 28.8 Additions – external consultants - 0.5 - - - - 0.5 Disposals (7.4 ) (19.1 ) - - - - (26.5 ) Effects of movements in exchange rates 0.7 - (24.4 ) (4.6 ) (66.4 ) (0.1 ) (94.8 ) At October 31, 2019 146.7 257.0 2,178.6 267.3 5,323.3 14.9 8,187.8 Accumulated amortization At November 1, 2018 50.1 206.7 478.9 48.9 801.5 3.2 1,589.3 Amortization charge for the period 34.1 26.7 200.1 20.9 424.8 9.9 716.5 Disposals (7.4 ) (19.1 ) - - - - (26.5 ) Effects of movements in exchange rates 0.1 - (10.1 ) (1.8 ) (22.0 ) - (33.8 ) At October 31, 2019 76.9 214.3 668.9 68.0 1,204.3 13.1 2,245.5 Net book amount at October 31, 2019 69.8 42.7 1,509.7 199.3 4,119.0 1.8 5,942.3 Net book amount at October 31, 2018 91.0 52.4 1,679.6 218.8 4,575.7 11.8 6,629.3 During the period, the estimated useful life of certain purchased software was revised. The net effect of the changes in the current financial period was an increase in amortization expense by $8.9m. Purchased intangibles Purchased software Product development costs Technology Trade Customer relationships Lease contracts Total Note $m $m $m $m $m $m $m Cost At May 1, 2017 24.6 213.8 398.9 239.6 972.4 - 1,849.3 Continuing operations: Acquisitions - HPE Software business 38 72.8 - 1,809.0 163.0 4,480.0 15.0 6,539.8 Acquisitions – COBOL-IT 38 - - 1.5 0.2 12.3 - 14.0 Acquisitions – Covertix 38 2.5 - - - - - 2.5 Additions 46.8 44.4 - - - - 91.2 Additions – external consultants - 0.9 - - - - 0.9 Effects of movements in exchange rates (0.4 ) - - - - - (0.4 ) Discontinued operation: Reclassification to current assets classified as held for sale 37 (5.2 ) - (50.9 ) (135.1 ) (87.5 ) - (278.7 ) At October 31, 2018 141.1 259.1 2,158.5 267.7 5,377.2 15.0 8,218.6 Accumulated amortization At May 1, 2017 21.0 164.7 223.0 38.8 312.5 - 760.0 Continuing operations: Amortization charge for the period 30.7 42.0 280.5 26.7 520.0 3.2 903.1 Effects of movements in exchange rates (0.9 ) - - - - - (0.9 ) Discontinued operation: Amortization charge for the period 0.8 - 13.4 9.1 16.9 - 40.2 Reclassification to current assets classified as held for sale 37 (1.5 ) - (38.0 ) (25.7 ) (47.9 ) - (113.1 ) At October 31, 2018 50.1 206.7 478.9 48.9 801.5 3.2 1,589.3 Net book amount at October 31, 2018 91.0 52.4 1,679.6 218.8 4,575.7 11.8 6,629.3 Net book amount at April 30, 2017 3.6 49.1 175.9 200.8 659.9 - 1,089.3 Intangible assets, with the exception of purchased software and internally generated product development costs, relate to identifiable assets purchased as part of the Group’s business combinations. Intangible assets are amortized on a straight-line basis over their expected useful economic life - see Accounting Policy K. In addition, during the year, following a review of the allocation of purchased intangible assets to foreign operations, the directors have determined that intangible assets of $7,321.0m which arose on previous acquisitions (in particular the acquisitions of the HPE Software business on September 1, 2017 and The Attachmate Group on November 20, 2014, being the two most significant) should have been allocated into functional currencies of the underlying foreign operations. The re-denomination has given rise to a total reduction in the carrying value of purchased intangible assets of $61.0m that has been recognized in the 12 months ended October 31, 2019. Had this allocation taken place from the acquisition dates, a $40.5m decrease in the carrying value of purchased intangible assets would have been recognized in the 18 months ended October 31, 2018 and a cumulative decrease of $20.8m in the carrying value would have been recognized as at May 1, 2017. As this change has no impact on the statement of cash flows and as the net prior-period impact of $61.3m and the impact on profit before taxation is not material in the context of the overall value of purchased intangible assets or net assets, it is, in the judgment of the directors, appropriate to effect the change in allocation in the current period. Movements in Other comprehensive income are not considered a key performance metric. This change in the carrying value of $61.0m consists of $94.8m and $33.8m reflected in the lines “effect of movements in exchange rates” for cost, this includes the cumulative impact on amortization of acquisition intangible assets which is not considered material, and cumulative amortization respectively in the table above. $83.3m of this has been recognized as “currency translation differences – continuing operations” in other comprehensive income, and subsequently the translation reserve in equity, and an offsetting $21.6m of this has been recognized as “currency translation differences – continuing operations” in other comprehensive income and subsequently retained earnings within equity. Expenditure totalling $29.3m (18 months to October 31, 2018: $91.2m) was made in the 12 months ended October 31, 2019, including $17.0m in respect of development costs and $12.3m of purchased software. The acquisition of Interset Software Inc. in the 12 months ended October 31, 2019 gave rise to an addition of $61.2m to purchased intangibles (note 38). The acquisitions of the HPE Software business ($6,539.8m), COBOL-IT ($14.0m) and Covertix ($2.5m) in the 18 months ended October 31, 2018 gave rise to an addition of $6,556.3m to purchased intangibles (note 38). Of the $17.0m of additions to product development costs, $16.5m (18 months to October 31, 2018: $44.4m) relates to internal product development costs and $0.5m (18 months ended October 31, 2018: $0.9m) to external consultants’ product development costs. At October 31, 2019, the unamortized lives of technology assets were in the range of two to 10 years, customer relationships in the range of one to 13 years and trade names in the range of 10 to 20 years. The HPE Software business acquired purchased intangibles, the largest component of the Group, have another 10 years life remaining for technology and 13 years life remaining for customer relationships purchased intangibles. Included in the Consolidated statement of comprehensive income for the 12 months ended October 31, 2019 and the 18 months ended October 31, 2018 was: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 For continuing operations: $m $m $m Cost of sales: - amortization of product development costs 26.7 42.0 22.4 - amortization of acquired purchased technology 200.1 280.5 59.0 Selling and distribution: - amortization of acquired purchased trade names, customer relationships and lease contracts 455.6 549.9 124.2 Administrative expenses: - amortization of purchased software 34.1 30.7 1.1 Total amortization charge for the period 716.5 903.1 206.7 Research and development: - capitalization of product development costs 16.5 44.4 27.7 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Oct. 31, 2019 | |
Property, plant and equipment [Abstract] | |
Property, plant and equipment | 12 Property, plant and equipment Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total Note $m $m $m $m $m Cost At November 1, 2018 14.3 79.2 103.3 29.1 225.9 Acquisition – Interset Software Inc. 38 - - 0.2 0.1 0.3 Additions - 37.7 24.6 3.0 65.3 Disposals - (3.6 ) (3.0 ) - (6.6 ) Reclassification - - 19.8 (19.8 ) - Effects of movements in exchange rates (0.3 ) 0.2 (0.5 ) 0.8 0.2 At October 31, 2019 14.0 113.5 144.4 13.2 285.1 Accumulated depreciation At November 1, 2018 2.2 34.3 36.6 8.5 81.6 Charge for the period 0.3 18.8 46.1 1.3 66.5 Disposals - (1.7 ) (1.3 ) - (3.0 ) Reclassification - - 4.6 (4.6 ) - Effects of movements in exchange rates (0.3 ) 0.3 (0.9 ) 0.4 (0.5 ) At October 31, 2019 2.2 51.7 85.1 5.6 144.6 Net book amount at October 31, 2019 11.8 61.8 59.3 7.6 140.5 Net book amount at November 1, 2018 12.1 44.9 66.7 20.6 144.3 Net book value of $15.2m of laptop computer equipment previously disclosed as fixtures and fitting have been reclassified as computer equipment in the period. Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total Note $m $m $m $m $m Cost At May 1, 2017 14.3 27.3 32.6 6.0 80.2 Continuing operations: Acquisition – HPE Software business 38 - 56.5 79.5 24.1 160.1 Acquisition – COBOL-IT 38 - - 0.1 - 0.1 Additions - 10.4 33.3 6.4 50.1 Disposals - (7.5 ) (27.1 ) (4.6 ) (39.2 ) Effects of movements in exchange rates - (3.4 ) (8.2 ) (2.5 ) (14.1 ) Discontinued operation: Additions - - 2.0 - 2.0 Disposals - - (0.1 ) - (0.1 ) Effects of movements in exchange rates - - 0.3 - 0.3 Reclassification to current assets classified as held for sale 37 - (4.1 ) (9.1 ) (0.3 ) (13.5 ) At October 31, 2018 14.3 79.2 103.3 29.1 225.9 Accumulated depreciation At May 1, 2017 1.8 12.7 22.1 2.7 39.3 Continuing operations: Charge for the period 0.4 26.3 50.7 11.2 88.6 Disposals - (4.0 ) (26.9 ) (3.7 ) (34.6 ) Effects of movements in exchange rates - (1.3 ) (6.4 ) (2.9 ) (10.6 ) Discontinued operation: Charge for the period - 2.7 2.6 1.3 6.6 Disposals - - - - - Effects of movements in exchange rates - - 0.1 - 0.1 Reclassification to current assets classified as held for sale 37 - (2.1 ) (5.6 ) (0.1 ) (7.8 ) At October 31, 2018 2.2 34.3 36.6 8.5 81.6 Net book amount at October 31, 2018 12.1 44.9 66.7 20.6 144.3 Net book amount at May 1, 2017 12.5 14.6 10.5 3.3 40.9 Depreciation for the 12 months ended October 31, 2019 of $66.5m (18 months ended October 31, 2018: $95.2m) is included within administrative expenses and cost of sales in the Consolidated statement of comprehensive income. The carrying value of computer equipment held under finance leases and hire purchase contracts, as at October 31, 2019 was $20.9m (October 31, 2018: $25.9m). |
Related undertakings
Related undertakings | 12 Months Ended |
Oct. 31, 2019 | |
Related undertakings [Abstract] | |
Related undertakings | 13 Related undertakings In accordance with section 409 of the UK Companies Act 2006 (the “Act”), information on all related undertakings of the Group is set out below. Related undertakings are categorized in the Act as being “subsidiaries”, “associated undertakings” and “significant holdings in undertakings other than subsidiary companies”. The information below is stated as at October 31, 2019. The definition of a subsidiary undertaking in the Act is different from the definition of that term under IFRS. As a result, related undertakings included within this list may not be the same as the related undertakings consolidated in the Group IFRS financial statements. All undertakings in which the Group has an equity interest of greater than 50% are considered as subsidiary undertakings for the purpose of this note: Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 1 Attachmate Australasia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 2 Attachmate Group Australia Pty Limited Australia Ordinary Shares Sale and support of software 1 3 Autonomy Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 4 Autonomy Systems Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 5 Borland Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 6 Entco Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 7 Micro Focus Australia Pty Ltd (formerly Entcorp Australia Pty Limited) Australia Ordinary Shares AU$1.00 Sale and support of software 1 8 Micro Focus Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 9 Serena Software Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 10 Borland Entwicklung GmbH Austria Registered capital Development of software 2 11 Autonomy Belgium BVBA Belgium Ordinary Shares Sale and support of software 3 12 Micro Focus Belgium BV (formerly Entco Belgium BVBA) Belgium Ordinary Shares Sale and support of software 3 13 Micro Focus Srl (formerly Micro Focus SPRL) Belgium Ordinary Shares Sale and support of software 4 14 Borland Latin America Ltda Brazil Quota RS$1.00 Sale and support of software 5 15 Cambridge Technology Partners do Brasil s.c. Ltda Brazil Quota RS$1.00 Dormant 5 16 Micro Focus Brasil Serviços de Tecnologia Ltda (formerly Entco Brasil Serviços de Tecnologia Ltda) Brazil Quota RS$1.00 Sale and support of software 5 17 Micro Focus Programmeação de Computadores Ltda Brazil Quota RS$1.00 Sale and support of software 5 18 Peregrinne Systems do Brasil Limitada Brazil Quota RS$1.00 Sale and support of software 6 19 Serena Software Do Brasil Ltda Brazil Quota RS$1.00 Sale and support of software 7 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 20 Verity Worldwide Limited British Virgin Islands Ordinary Shares US$50,000.00 Sale and support of software 8 21 Micro Focus APM Solutions Limited (EOOD) Bulgaria Ordinary Shares BGN1,000.00 Development of software 9 22 Micro Focus Bulgaria EOOD (formerly Entco Bulgaria EOOD) Bulgaria Ordinary Shares BGN1.00 Sale and support of software 10 23 Autonomy Systems (Canada) Limited Canada Class A Common Stock Sale and support of software 11 24 Borland Canada Software ULC Canada Common Shares Dormant 12 25 Entcorp Canada, Inc. Canada Common Stock Sale and support of software 13 26 GWAVA ULC (formerly GWAVA Inc.) Canada Common Stock Holding Company 12 27 Interset Software Inc. Canada Class A Preferred Shares Class B Preferred Shares Class B-1 Preferred Shares Class B-2 Preferred Shares Common Shares Sale and support of software 14 28 Micro Focus (Canada) ULC Canada Common Shares Development, sale and support of software 12 29 Micro Focus Acquisition ULC Canada Common Shares Holding Company 15 30 Micro Focus Software (Canada), ULC Canada Common Shares Sale and support of software 16 31 Micro Focus Software Solutions Canada Co. / Solutions Logiciels Micro Focus Canada Cie. (formerly Entco Software Canada Co. Logiciels Entco Canada Cie) Canada Common Shares Sale and support of software 17 32 NetManage Canada ULC Canada Common Shares Dormant 12 33 Entco Bellatrix HoldCo Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 34 Entco Capital Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 35 Entco Investment Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 36 Micro Focus International Limited Cayman Islands Class A Ordinary Shares US$0.00001 Class B Ordinary Shares US$0.00001 Class C Ordinary Shares US$0.00001 Class L Ordinary Shares US$0.00001 Dormant 18 37 Micro Focus IP Limited Cayman Islands Class A Ordinary Shares €0.01 Class B Preferred Redeemable Shares €0.01 Holding Company 18 38 Entco Marigalante Limited Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 39 Autonomy Systems (Beijing) Limited Company China Registered Capital Sale and support of software 19 40 Borland Software Corporation Beijing Representative Office China Branch In liquidation 104 41 Shanghai Entco Software Technology Co., Limited China Registered Capital Sale and support of software 20 42 Shanghai Entco Software Technology Co., Limited, Beijing Branch China Branch Sale and support of software 21 43 Shanghai Entco Software Technology Co., Limited, Chongqing Branch China Branch Sale and support of software 22 44 Shanghai Entco Software Technology Co., Limited, Shenzhen Branch China Branch Sale and support of software 23 45 Singapore Micro Focus Pte Ltd Shanghai Representative Office China Branch Sale and support of software 24 46 UK Micro Focus Limited Beijing Representative Office China Branch Sale and support of software 25 47 Micro Focus CentroAmerica CAC Limiteda (formerly Entco CentroAmerica CAC Limitada) Costa Rica Quota CRC1,000.00 Sale and support of software 26 48 Micro Focus Costa Rica Limiteda (formerly Entco Costa Rica Limitada) Costa Rica Quota CRC1,000.00 Sale and support of software 26 49 NetIQ Software International Limited Cyprus Ordinary Shares of C£1.00 Dormant 103 50 Micro Focus Czechia s.r.o (formerly Entco Czechia, s.r.o.) Czech Republic Registered Capital Sale and support of software 27 51 NOVL Czech s.r.o. Czech Republic Registered Capital Dormant 28 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 52 Micro Focus Denmark, filial af Micro Focus AS, Norge (Branch) Denmark Branch Sale and support of software 29 53 Micro Focus Software Denmark ApS (formerly Entco Denmark ApS) Denmark Ordinary Shares DKK1.00 Sale and support of software 29 54 Attachmate Middle East LLC Egypt Cash Shares LE100.00 In liquidation 105 55 Micro Focus AS, Filial i Finland (Branch) Finland Branch Sale and support of software 30 56 Attachmate Group France SARL France Ordinary Shares €16.00 Sale and support of software 31 57 Borland (France) Sarl France Ordinary Shares €15.25 Sale and support of software 31 58 Cobol-IT, SAS France Ordinary Shares €1.00 Sale and support of software 31 59 Micro Focus France SAS (formerly Entco France SAS) France Ordinary Shares €1.00 Sale and support of software 32 60 Micro Focus SAS France Ordinary Shares €10.00 Sale and support of software 31 61 Attachmate Group Germany GmbH Germany Ordinary Shares €191,000.00 Sale and support of software 33 62 Borland GmbH Germany Ordinary Shares €49,500.00 Ordinary Shares €450,000.00 Ordinary Shares €100,000.00 Ordinary Shares €500.00 Dormant 33 63 GWAVA EMEA GmbH Germany Registered Capital Sale and support of software 34 64 Micro Focus Deutschland GmbH (formerly Entco Deutschland GmbH) Germany Registered Capital Sale and support of software 35 65 Micro Focus GmbH Germany Registered Capital Sale and support of software 33 66 Novell Holdings Deutschland GmbH Germany Registered Capital Holding Company 36 67 Serena Software GmbH Germany Registered Capital Sale and support of software 37 68 Attachmate (Hong Kong) Limited Hong Kong Ordinary Shares HK$1.00 Dormant 38 69 Borland (H.K.) Limited Hong Kong Ordinary Shares HK$1.00 Dormant 38 70 EntCorp Hong Kong Limited Hong Kong Ordinary Shares HK$1.00 Sale and support of software 39 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 71 Micro Focus Limited Hong Kong (Branch) Hong Kong Branch Sale and support of software 38 72 Micro Focus Software HK Limited (formerly Attachmate Group Hong Kong Limited) Hong Kong Ordinary Shares HK$10.00 Sale and support of software 38 73 NetIQ Asia Ltd. Hong Kong Ordinary Shares HK$1.00 Dormant 38 74 Autonomy Software Asia Private Limited India Equity Shares INR10.00 Sale and support of software 40 75 Borland Software India Private Limited India Equity Shares INR10.00 Dormant 41 76 Entco IT Services Private Limited India Equity Shares INR10.00 Sale and support of software 42 77 Interwoven, Inc., India Branch India Branch Sale and support of software 43 78 Micro Focus India Private Limited India Equity Shares INR10.00 Support of software 41 79 Micro Focus Software India Private Limited India Equity Shares INR10.00 Development, sale and support of software 41 80 Micro Focus Software Solutions Private Limited (formerly Entco Software India Private Limited) India Equity Shares INR10.00 Sale and support of software 44 81 Novell India Private Ltd. India Equity Shares INR10.00 Dormant 45 82 Relativity Technologies Private Limited India Equity Shares INR10.00 Sale and support of software 41 83 Attachmate Ireland Limited Ireland Ordinary Shares €1.27 Sale and support of software 46 84 Entsoft Holding Ireland Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 46 85 Micro Focus (IP) Ireland Limited Ireland Ordinary Shares US$1.00 Dormant 47 86 Micro Focus (Ireland 1) Limited (formerly SUSE Linux Holdings Limited) Ireland Ordinary Shares US$1.00 Holding Company 47 87 Micro Focus (Ireland 2) Limited (formerly SUSE Linux Ireland Limited) Ireland Ordinary Shares US$1.00 Dormant 47 88 Micro Focus Finance Ireland Limited Ireland Ordinary Shares US$1.00 Holding Company 48 89 Micro Focus Galway Limited (formerly Entsoft Galway Limited Ireland Ordinary Shares €1.00 Sale and support of software 46 90 Micro Focus Group Holdings Unlimited Company Ireland Ordinary Shares €1.00 Holding Company 47 91 Micro Focus International Holdings Limited Ireland Ordinary Shares €1.00 Holding Company 47 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 92 Micro Focus Ireland Limited Ireland Ordinary Shares €1.00 Development, sale and support of software 47 93 Micro Focus Software (Ireland) Limited Ireland Ordinary Shares €1.25 Ordinary Shares US$1.00 Development, sale and support of software 48 94 Micro Focus Software Solutions Ireland Limited (formerly Entsoft Ireland Limited) Ireland Ordinary Shares €1.00 Sale and support of software 46 95 NetIQ Europe Limited Ireland Ordinary Shares €1.00 Sale and support of software 46 96 NetIQ Ireland Limited Ireland Ordinary Shares €1.00 Holding Company 47 97 Novell Cayman Software International Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 47 98 Novell Cayman Software Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 47 99 Novell Ireland Real Estate Unlimited Company Ireland Ordinary Shares €1.25 A Ordinary Shares €1.25 Holding Company 47 100 Novell Software International Limited Ireland Ordinary Shares US$1.00 Holding Company 47 101 Micro Focus Interactive Israel Ltd (formerly Entco Interactive (Israel) Limited) Israel Ordinary Shares of NIS1.00 Sale and support of software 49 102 Micro Focus Israel Limited Israel Ordinary Shares NIS1.00 Development and support of software 50 103 Micro Focus Software Israel Ltd (formerly Entcorp Software Israel Limited) Israel Ordinary Shares NIS1.00 Sale and support of software 49 104 N.Y. NetManage (Yerushalayim) Ltd Israel Ordinary Shares NIS1.00 Dormant 51 105 Novell Israel Software International Limited Israel Ordinary Shares NIS1.00 In liquidation 106 106 Enterprise Corp Italiana S.r.l. Italy Registered Capital Sale and support of software 52 107 Micro Focus Italiana S.r.l. (formerly Entco Italiana Srl Italy Registered Capital Sale and support of software 53 108 Micro Focus Srl Italy Registered Capital Sale and support of software 53 109 Serena Software Europe Limited - Italy Branch Italy Branch Sale and support of software 53 110 Verity Italia S.r.l. Italy Registered Capital Sale and support of software 54 111 Entcorp Japan K.K. Japan Ordinary Shares Sale and support of software 55 112 Micro Focus Enterprise Ltd Japan Ordinary Shares Sale and support of software 56 113 Micro Focus LLC (formerly Micro Focus KK) Japan Interest in capital Sale and support of software 56 Company name Country of Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 114 Novell Japan, Ltd Japan Common Stock Sale and support of software 56 115 Serena Software Japan LLC (formerly Serena Software Japan KK) Japan Interest in Capital Sale and support of software 56 116 Micro Focus Korea Limited South Korea Units KRW5000 Sale and support of software 57 117 Serena Software Europe Limited - Korea Branch South Korea Branch Sale and support of software 58 118 Micro Focus Finance S.à r.l. Luxembourg Ordinary Shares US$1.00 In liquidation 59 119 Micro Focus Luxembourg S.à r.l. (formerly Entco Luxembourg Sarl) Luxembourg Ordinary Shares Sale and support of software 59 120 Minerva Finance S.à r.l. Luxembourg Ordinary Shares US$1.00 In liquidation 59 121 Verity Luxembourg S.à r.l. Luxembourg Ordinary Shares €25.00 Sale and support of software 60 122 Micro Focus Malaysia Sdn. Bhd. (formerly Entco Software Malaysia Sdn. Bhd.) Malaysia Ordinary Shares RM1,000.00 Sale and support of software 61 123 Novell Corporation (Malaysia) Sdn. Bhd. Malaysia Ordinary Shares RM1.00 Sale and support of software 62 124 Micro Focus International Mexico, S. de R.L. de C.V. (formerly Entco México, S. de R.L. de C.V. ) Mexico Equity Interest Quota MXN1.00 Sale and support of software 63 125 Micro Focus Limited Mexico (Branch) Mexico Branch Sale and support of software 64 126 Micro Focus Software Mexico, S. De R.L. De C.V. (formerly Entco Software México, S. de R.L. de C.V.) Mexico Equity Interest Quota MXN1.00 Sale and support of software 63 127 Micro Focus Software Solutions Mexico, S. de R.L. de C.V. (formerly Entcorp Software México, S. de R.L. de C.V.) Mexico Equity Interest Quota MXN1.00 Sale and support of software 63 128 Attachmate Group Netherlands B.V. Netherlands Ordinary Shares €100.00 Sale and support of software 65 129 Authasas Advanced Authentication B.V. Netherlands Ordinary Shares €1.00 Dormant 65 130 Authasas B.V Netherlands Ordinary Shares A €1.00 Ordinary Shares B €1.00 Sale and support of software 65 131 Autonomy HoldCo B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 65 132 Autonomy Netherlands BV Netherlands Common Shares €100.00 Sale and support of software 65 133 Borland BV Netherlands Ordinary Shares €5.00 Sale and support of software 65 134 Entco Eastern Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 135 Entco Gatriam Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 136 Entco HoldCo I B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 137 Entco HoldCo II B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 138 Entco HoldCo III B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 139 Entco HoldCo IV B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 140 Entco Holding Berlin B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 141 Entco Holding Hague II B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 142 Entco Sinope Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 143 Entcorp Nederland B.V. Netherlands Ordinary Shares €100.00 Sale and support of software 65 144 Micro Focus B.V. Netherlands Common Shares €100.00 Sale and support of software 65 145 Micro Focus Caribe Holding B.V. (formerly Entco Caribe B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 146 Micro Focus Eastern Holding II B.V. (formerly Entco Eastern Holding II B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 147 Micro Focus Enterprise B.V. (formerly Entco Enterprise B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 148 Micro Focus HoldCo B.V. (formerly Entco HoldCo B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 149 Micro Focus Holding Finance B.V. (formerly Entco Holding Finance B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 150 Micro Focus Holding Hague B.V. (formerly Entco Holding Hague B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 151 Micro Focus Holding PR B.V. (formerly Entco Puerto Rico B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 152 Micro Focus International Trade B.V. (formerly Entco International Trade B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 153 Micro Focus Nederland B.V. (formerly Entco Nederland B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 154 Verity Benelux B.V. Netherlands Common Shares of €500.00 Sale and support of software 65 155 Micro Focus Software (New Zealand) Unlimited New Zealand Ordinary Shares Sale and support of software 66 156 Micro Focus AS Norway Ordinary Shares NOK1,602.00 Sale and support of software 67 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 157 Entcorp Philippines, Inc. Philippines Common Stock PHP1.00 Sale and support of software 68 158 Micro Focus Polska sp. z o.o. (formerly Entco Polska sp. z.o.o.) Poland Ordinary Shares PLN500.00 Sale and support of software 69 159 Micro Focus S.L. - Sucursal Em Portugal (Branch) Portugal Branch Sale and support of software 70 160 Novell Portugal - Informática Lda Portugal Ordinary Shares €14,864.18 Ordinary Shares €99.76 Sale and support of software 71 161 Micro Focus Caribe Holding B.V. LLC Branch (formerly Entco Caribe B.V. LLC ) Puerto Rico Branch Sale and support of software 72 162 Micro Focus Holding PR B.V. LLC Branch (formerly Entco Puerto Rico B.V. LLC ) Puerto Rico Branch Sale and support of software 73 163 Micro Focus Software Romania SRL (formerly Entco Software Romania SRL) Romania Ordinary Shares RON10.00 Sale and support of software 74 164 Limited Liability Company Micro Focus (formerly Limited Liability Company Entco) Russian Federation Interest in Capital Sale and support of software 75 165 Micro Focus LLC Saudi Arabia Ordinary Shares SAR50 Sale and support of software 76 166 Autonomy Systems Singapore Pte. Ltd. Singapore Ordinary Shares Sale and support of software 77 167 Borland (Singapore) Pte. Ltd. Singapore Ordinary Shares Sale and support of software 78 168 Entco Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 77 169 Mercury Interactive (Singapore) Pte Ltd Singapore Ordinary Shares In liquidation 107 170 Micro Focus Pte. Ltd. Singapore Ordinary Shares Sale and support of software 78 171 Micro Focus Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 77 172 Autonomy Systems Software South Africa Pty Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 79 173 Micro Focus Software South Africa (Pty) Ltd (formerly Attachmate Group South Africa (Pty) Limited South Africa Ordinary Shares ZAR1.00 Sale and support of software 80 174 Micro Focus South Africa (Pty) Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 80 175 Micro Focus Field Delivery Spain, S.L.U. (formerly Entco Field Delivery Spain, S.L.U.) Spain Ordinary Shares €1.00 Sale and support of software 81 176 Micro Focus S.L.U. Spain Registered Shares €9.00 Sale and support of software 82 177 Micro Focus Software Spain S.L.U. (formerly Entco Software Spain S.L.U.) Spain Ordinary Shares €1.00 Sale and support of software 81 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 178 Serena Software SA Spain Ordinary Shares €546.92 Sale and support of software 83 179 Micro Focus AS, Norge, filial i Sverige (Branch) Sweden Branch Sale and support of software 84 180 Micro Focus Sverige AB (formerly Entco Sverige AB) Sweden Quota SEK1.00 Sale and support of software 84 181 Micro Focus Enterprise B.V., Amstelveen, Versoix Branch Switzerland Branch Sale and support of software 85 182 Micro Focus GmbH Switzerland Quotas CHF100.00 Sale and support of software 86 183 Micro Focus International Suisse Sàrl (formerly Entco International Sàrl ) Switzerland Ordinary Shares CHF1,000.00 Sale and support of software 85 184 Micro Focus Schweiz GmbH (formerly Entco Schweiz GmbH ) Switzerland Ordinary Shares CHF100.00 Sale and support of software 86 185 Serena Software GmbH- Swiss Branch Switzerland Branch Sale and support of software 87 186 Trilead GmbH Switzerland Ordinary Shares CHF100.00 Sale and support of software 88 187 Interwoven, Inc., Taiwan Branch Taiwan Branch Sale and support of software 89 188 Novell (Taiwan) Co., Ltd. Taiwan Ordinary Shares NT$10.00 Sale and support of software 90 189 Micro Focus Enterprise Tunisia SARL Tunisia Ordinary Shares TND10.00 Sale and support of software 91 190 Micro Focus Teknoloji Çözümleri Limited Şirketi (formerly Entco Turkey Teknoloji Çözümleri Limited Şirketi) Turkey Ordinary Shares TRY25.00 Sale and support of software 92 191 Serena Software Ukraine LLC Ukraine Interest in Capital Sale and support of software 93 192 Entco International SARL-Abu Dhabi - Branch United Arab Emirates Branch Sale and support of software 94 193 Entco International SARL-Jebel Ali Free Zone - Branch United Arab Emirates Branch Sale and support of software 95 194 Entco Software Services Middle East FZ-LLC United Arab Emirates Ordinary Shares AED1,000.00 Sale and support of software 96 195 Attachmate Sales UK Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 196 Autonomy Digital Limited United Kingdom Ordinary Shares £1.00 In liquidation 108 197 Autonomy Systems Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 98 198 Borland (Holding) UK Ltd United Kingdom Ordinary Shares £1.00 Dormant 97 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 199 Borland (UK) Limited United Kingdom Ordinary Shares £1.00 Dormant 97 200 Entcorp Marigalante UK Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 98 201 Interwoven UK Limited United Kingdom Ordinary Shares £1.00 In liquidation 108 202 Longsand Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 98 203 Merant Holdings United Kingdom Ordinary Shares £1.00 Holding Company 97 204 Meridio Limited United Kingdom Ordinary Shares £1.00 In liquidation 109 205 Micro Focus (IP) Holdings Limited United Kingdom Ordinary Shares US$1.00 Dormant 97 206 Micro Focus (IP) Ltd United Kingdom Ordinary Shares £1.00 Holding Company 97 207 Micro Focus (US) Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 97 208 Micro Focus APM Solutions Limited United Kingdom Ordinary Shares £1.00 In liquidation 97 209 Micro Focus CHC Limited United Kingdom Ordinary Shares US$0.01 Redeemable Preference Shares US$1.00 C Preference Shares US$1.00 Holding Company 97 210 Micro Focus Foreign HoldCo Ltd (formerly Entco Foreign HoldCo Ltd) United Kingdom Ordinary Shares £1.00 Holding Company 98 211 Micro Focus Global Limited (formerly Novell U.K. Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 212 Micro Focus Group Limited United Kingdom Ordinary Shares £1.00 Holding Company 97 213 Micro Focus Holdings Unlimited United Kingdom Ordinary Shares £0.01 Holding Company 97 214 Micro Focus Integration Holdings Limited United Kingdom Ordinary Shares US$1.00 Holding Company 97 215 Micro Focus Integration Limited United Kingdom Ordinary Shares US$1.00 Sale and support of software 97 216 Micro Focus IP Development Limited United Kingdom Ordinary Shares US$1.00 Development and support of software 97 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 217 Micro Focus Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 218 Micro Focus MHC Limited United Kingdom A Ordinary Shares £0.00001 B Ordinary Shares £0.00001 Holding Company 97 219 Micro Focus Midco Holdings Limited United Kingdom Ordinary Shares US$0.01 Holding Company 97 220 Micro Focus Midco Limited United Kingdom Ordinary Shares US$0.0001 Holding Company 97 221 Micro Focus Situla Holding Ltd (formerly Entco Situla Holding Ltd) United Kingdom Ordinary Shares £1.00 Holding Company 98 222 Micro Focus Software (IP) Holdings Limited United Kingdom Ordinary Shares US$0.01 Preferred Shares US$1.00 Holding Company 97 223 Micro Focus Software Holdings Ltd (formerly Novell UK Software Limited) United Kingdom Ordinary Shares £1.00 Sale and support of software 97 224 Micro Focus Software UK Ltd (formerly Entcorp UK Ltd ) United Kingdom Ordinary Shares £1.00 Sale and support of software 98 225 Micro Focus UK Limited United Kingdom Ordinary Shares £1.00 Dormant 97 226 NetIQ Limited United Kingdom Ordinary Shares £1.00 Dormant 97 227 Ryan McFarland Limited United Kingdom Ordinary Shares £1.00 In liquidation 97 228 Serena Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 97 229 Serena Software Europe Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 230 XDB (UK) Limited United Kingdom Ordinary Shares £1.00 In liquidation 97 231 ZANTAZ UK Limited United Kingdom Ordinary Shares £1.00 In liquidation 108 232 Attachmate Corporation United States Common Stock US$0.01 Development and support of software 99 233 Borland Corporation United States Common Stock US$0.01 Holding Company 100 234 Borland Software Corporation United States Common Stock US$0.01 Development and support of software 100 235 Borland Technology Corporation United States Common Stock US$0.01 Dormant 100 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 236 Entco Delaware LLC United States Interest in Capital Sale and support of software 100 237 Entco Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 238 Entco Technologies, Inc. United States Common Stock US$0.001 Sale and support of software 100 239 Entco, LLC United States Interest in Capital Sale and support of software 100 240 GWAVA Technologies Inc United States Common Stock of US$1.00 Sale and support of software 100 241 Interset Software - US, Inc. United States Common Stock US$0.0001 Sale and support of software 100 242 MA FinanceCo., LLC United States Units Holding Company 100 243 Marcel Holdings LLC United States Limited Liability Company Interest US$1.00 Sale and support of software 101 244 Micro Focus (US) Group, Inc United States Common Stock US$0.01 Holding Company 100 245 Micro Focus (US) International Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 246 Micro Focus (US), Inc. United States Common Stock US$0.01 Development and support of software 100 247 Micro Focus Brazil Holdings LLC (formerly Entco Brazil Holdings LLC) United States Interest in Capital Holding Company 100 248 Micro Focus Government Solutions LLC (formerly Entco Government Solutions LLC) United States Interest in Capital Sale and support of software 100 249 Micro Focus LLC (formerly EntIT Software LLC) United States Limited Liability Company Interests Sale and support of software 100 250 Micro Focus Software Inc. United States Voting Common Stock US$0.01 Non-voting Common Stock US$0.01 Development and support of software 100 251 MicroLink LLC United States Limited Liability Company Interests Sale and support of software 102 252 NetIQ Corporation United States Common Stock US$0.001 Development and support of software 100 253 Novell Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 254 Novell International Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 255 Seattle SpinCo, Inc. United States Class A Common Stock US$0.01 Holding Company 100 256 Serena Software, Inc. United States Common Stock US$0.01 Holding Company 100 257 Spartacus Acquisition Holdings Corp United States Common Stock US$0.001 Holding Company 100 258 Stratify, Inc. United States Common Stock US$0.001 Sale and support of software 100 259 The Attachmate Group, Inc. United States Common Stock US$0.001 Holding Company 100 260 Vertica Systems, LLC United States Limited Liability Company Interests Sale and support of software 100 1 2 The financial results of all of the related undertakings listed above are included in the Group’s consolidated financial statements. None of the related undertakings holds any shares in the Company. For each of the subsidiaries listed above, the Registered office or, in the case of undertakings other than subsidiaries, the principal place of business is as follows: Registered office addresses: Number Address 1 Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia 2 Donau Centre, Hauptstrasse 4-10, Linz, 4040, Austria 3 Officenter, Luchthavenlaan 27, 1800 Vilvoorde, Belgium 4 EU Parliament, 4th Floor, 37 De Meeussquare, Brussels, 1000, Belgium 5 Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002, Brazil 6 Avenida das nações Unidas, nº 12.901, conjunto 2302, sala 72, Itaim Bibi, São Paulo, CEP 04578-000, Brazil 7 Rua Dom Jose de Barros, 177, 3rd Floor, Suite 302, Vila Buarque, Sao Paulo 01038-100, Brazil 8 Estera Corporate Services (BVI) Limited, Jayla Place Wickhams Cay 1, Road Town, Tortola, British Virgin Islands 9 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria 10 1715 Sofia, Mladost district, Business Park Sofia, Building 9, Sophia, Bulgaria 11 200-204 Lambert Street, Whitehorse, Y1A 3T2, Canada 12 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada 13 Barker House , Suite 600, Fredericton E3B 6Z6, Canada Number Address 14 411 Legget Drive, Suite 503, Ottawa ON K2K 3C9, Canada 15 Suite 1700, Park Place, 666 Burrard Street, Vancouver BC V6C 2X8, Canada 16 4300 Bankers Hall West, 888 - 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada 17 1300-1960 Upper Water Street, Halifax, Nova Scotia B3J 3R7, Canada 18 Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands 19 Unit 601, Block A, Yuanyang International Center, Building 56, Dong Si Huan Zhong Dong Road, Beijing, Chaoyang District, China 20 Floor 2, Building 1, No. 799 Naxian Road, Pilot Free Trade Zone, Shanghai, China 21 8 Guangshun Avenue South, B01, 3F, Building 1, Chaoyang District, ,China, 22 No. 209, Chuangxin Plaza, No. 5 Keyuanyi Road, Jiulongpo District, Chongqing, China 23 14/F, Office 1436, Times Financial Center, 4001 Shennan Avenue, Futian District, Shenzhen, Guangdong, 518046, China or Unit H 1483 - 04, 14th Floor, Times Financial Center, 4001 Shennan Avenue, Fu’An Community, Futian Street, Shenzhen, Futian District, China 24 Room 810, Level 8, International Finance Center, Tower 2, 8 Century Avenue, Pudong, Shangahi 200120, P.R. China 25 Madrid 17-02F Suite, 17/F Ping An International Financial Center, Tower B, No. 3 Xin Yuan South Road, Chao Yang District, Beijing China 100027 26 San José, Cantón Montes de Oca, Distrito San Pedro, cincuenta metros al sur del Restaurante Le Chandelier, Edificio Blanco, Costa Rica 27 Za Brumlovkou 1559/5, Michle, Prague, 140 00, Czech Republic 28 Krizikova 148/34, Karlin, 186 00 Praha 8 Czech Republic 29 Borupvang 3, 2750, Ballerup, Denmark 30 Accountor Turku Oy, Yliopistonkatu 34,5 krs, Turku FI-20100 31 Tour, Atlantique, La Defense 9, 1 Pla |
Other non-current assets
Other non-current assets | 12 Months Ended |
Oct. 31, 2019 | |
Other non-current assets [Abstract] | |
Other non-current assets | 14 Other non-current assets October 31, 2019 October 31, 2018 $m $m Employee benefit deposit 33.4 31.1 Long-term rent deposits 4.9 4.1 Long-term prepaid expenses 4.5 2.9 Other 1.2 0.7 44.0 38.8 Employee benefit deposits are held in Germany ($16.4m), Israel ($11.9m), Italy ($2.4m) and the Netherlands ($2.7m) (October 31, 2018: Germany $15.4m, Israel $10.2m, Italy $2.7m and the Netherlands $2.8m). Employers in Germany, Italy and Israel are required by law to maintain funds to satisfy certain employee benefit liabilities, including free time off and compensation for involuntary termination of employment. These investment-based deposits are managed by third parties and the carrying values are marked-to-market based on third-party investment reports. In addition, a cash deposit was held in the Netherlands on behalf of certain employees to cover legacy employment subsistence benefits. |
Inventories
Inventories | 12 Months Ended |
Oct. 31, 2019 | |
Inventories [Abstract] | |
Inventories | 15 Inventories October 31, 2019 October 31, 2018 $m $m Work in progress - - Finished goods 0.1 0.2 0.1 0.2 The Group utilized $0.1m (18 months to October 31, 2018: $0.3m) of inventories included in cost of sales during the 12 months to October 31, 2019. |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Oct. 31, 2019 | |
Trade and other receivables [Abstract] | |
Trade and other receivables | 16 Trade and other receivables October 31, 2019 October 31, 2018 $m $m Trade receivables 877.9 1,089.6 Loss allowance (42.4 ) (41.9 ) Trade receivables net 835.5 1,047.7 Prepayments 53.9 60.0 Other receivables 87.2 79.0 Contract assets 56.3 85.3 1,032.9 1,272.0 Concentrations of credit risk with respect to trade receivables are limited due to the Group’s customer base being large and unrelated. The Group considers the credit quality of trade and other receivables on a customer-by-customer basis. The Group considers that the carrying value of the trade and other receivables that is disclosed below gives a fair presentation of the credit quality of the assets. This is considered to be the case as there is a low risk of default due to the high number of recurring customers and credit control policies. In determining the recoverability of a trade receivable, the Group considers the ageing of each debtor and any change in the circumstances of the individual receivable. Due to this, management believes there is no further credit risk provision required in excess of the normal provision determined by the expected credit loss methodology applied. At October 31, 2019 and October 31, 2018, the carrying amount approximates the fair value of the instrument due to the short-term nature of the instrument. The trade receivables of $877.9m at October 31, 2019 (October 31, 2018: $1,089.6m) are net of the $nil (October 31, 2018: $21.5m) loss allowance in the opening balance sheet for the HPE Software business (note 38) as amounts provided in the prior period have been utilized in the current period. As at October 31, 2019, a loss allowance of $42.4m (October 31, 2018: $41.9m) was recognized for trade receivables. The ageing of these receivables is as follows: Current $m Up to three months $m Three to four months $m Over four months $m Total $m October 31, 2019 Gross trade receivables 696.0 110.1 8.9 62.9 877.9 Loss allowance (8.9 ) (3.8 ) (1.5 ) (28.2 ) (42.4 ) Net trade receivables 687.1 106.3 7.4 34.7 835.5 October 31, 2018 Gross trade receivables 798.5 153.4 13.6 124.1 1,089.6 Loss allowance - - (3.6 ) (38.3 ) (41.9 ) Net trade receivables 798.5 153.4 10.0 85.8 1,047.7 Movements in the Group provision for impairment of trade receivables were as follows: October 31, 2019 October 31, 2018 $m $m At November 1 / May 1 (calculated under IAS 39) 41.9 2.6 Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) 20.0 - Revised November 1 / May 1 61.9 2.6 Loss allowance provided in the period 16.0 40.0 Receivables written off as uncollectable (35.5 ) (0.7 ) At October 31 42.4 41.9 The creation and release of the loss allowance for receivables have been included in selling and distribution costs in the Consolidated statement of comprehensive income. Amounts charged in the allowance account are generally written off when there is no expectation of recovering additional cash. The Group does not hold any collateral as security. The loss allowance for trade receivables is measured at an amount equal to the life-time expected credit losses as allowed for by IFRS 9. Prior to the adoption of IFRS 9 on November 1, 2018, trade receivables were stated net of allowances for estimated irrecoverable amounts due to the identification of a loss event (the incurred loss method). Contract assets relate to amounts not yet due from customers and contain no amounts past due. |
Contract-related costs
Contract-related costs | 12 Months Ended |
Oct. 31, 2019 | |
Contract-related costs [Abstract] | |
Contract-related costs | 17 Contract-related costs October 31, 2019 October 31, 2018 $m $m Current 19.3 - Non-current 31.5 - 50.8 - The Group capitalize the costs of obtaining a customer contract when they are incremental and, if expected to be recovered, they are amortized over the customer life or pattern of revenue for the related contract. Normally sales commissions paid for customer contract renewals are not commensurate with the commissions paid for new contracts. It follows that the commissions paid for new contracts also relate to expected future renewals of these contracts. Accordingly, we amortize sales commissions paid for new customer contracts on a straight-line basis over the expected customer life, based on expected renewal frequency. The current average customer life is five years. If the expected amortization period is one year or less the Group expenses the costs when incurred. As at November 1, 2018, the date of transition to IFRS 15, the capitalized commissions paid for uncompleted contracts were $64.7m ($35.4m was disposed of as part of the discontinued operation), of which $14.1m were current and $50.6m non-current. The amortization expenses in the period for the costs of obtaining customer contracts were $10.2m. Amortization of the capitalized costs of obtaining customer contracts is classified as sales and marketing expense. Capitalized costs from customer contracts are classified as non-financial assets in our statement of financial position. October 31, 2019 October 31, 2018 $m $m Asset recognized from costs incurred to acquire a contract 31.4 - Amortization and impairment loss recognized as cost of providing services during the period (10.2 ) - |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Oct. 31, 2019 | |
Cash and cash equivalents [Abstract] | |
Cash and cash equivalents | 18 Cash and cash equivalents October 31, 2019 October 31, 2018 Note $m $m Cash at bank and in hand 292.2 387.1 Short-term bank deposits 63.5 236.7 355.7 623.8 Reclassification to current assets classified as held for sale 37 - (2.9 ) Cash and cash equivalents 355.7 620.9 At October 31, 2019 and October 31, 2018, the carrying amount approximates to the fair value. The Group’s credit risk on cash and cash equivalents is limited as the counterparties are well established banks with high credit ratings. The credit quality of cash and cash equivalents is as follows: October 31, 2019 October 31, 2018 $m $m S&P/Moody’s/Fitch rating: AAA 69.8 231.5 AA- 87.6 81.0 A+ 144.4 260.4 A 23.4 20.1 A- 14.4 3.8 BBB+ 1.7 4.5 BBB 4.5 1.0 BBB- 0.8 0.6 BB+ 0.8 2.0 BB 0.3 - BB- 6.3 15.2 B+ 0.2 - CCC+ - 0.2 C- - 0.3 Not rated 1.5 0.3 355.7 620.9 Where the opinions of the rating agencies differ, the lowest applicable rating has been assigned to the counterparty. |
Trade and other payables - curr
Trade and other payables - current | 12 Months Ended |
Oct. 31, 2019 | |
Trade and other payables - current [Abstract] | |
Trade and other payables - current | 19 Trade and other payables – current October 31, 2019 October 31, 2018 $m $m Trade payables 105.0 46.1 Tax and social security 80.7 46.5 Accruals 425.3 584.3 611.0 676.9 At October 31, 2019 and at October 31, 2018, the carrying amount approximates to the fair value. At October 31, 2019 accruals include vacation and payroll – $88.4m (October 31, 2018: $147.0m), commission and employee bonuses - $74.9m (October 31, 2018: $162.7m), integration and divestiture expenses - $26.4m (October 31, 2018: $44.5m) and consulting and audit fees - $36.9m (October 31, 2018: $30.3m). |
Borrowings
Borrowings | 12 Months Ended |
Oct. 31, 2019 | |
Borrowings [Abstract] | |
Borrowings | 20 Borrowings October 31, 2019 October 31, 2018 $m $m Bank loan secured 4,775.0 4,996.9 Unamortized prepaid facility arrangement fees and original issue discounts (104.3 ) (151.0 ) 4,670.7 4,845.9 October 31, 2019 October 31, 2018 Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts Total Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts Total Reported within: $m $m $m $m $m $m Current liabilities - - - 50.3 (46.6 ) 3.7 Non-current liabilities 4,775.0 (104.3 ) 4,670.7 4,946.6 (104.4 ) 4,842.2 4,775.0 (104.3 ) 4,670.7 4,996.9 (151.0 ) 4,845.9 In April 2019, early repayments totaling $200.0m in total were made against the existing term loans, utilizing some of the proceeds from the sale of the SUSE business. As a result of this no further repayments are expected within the next 12 months. The term of the loans remains unchanged. The following facilities were drawn as at October 31, 2019: • The $1,414.7m senior secured term loan B-2 issued by MA FinanceCo LLC is priced at LIBOR plus 2.25% (subject to a LIBOR floor of 0.00%); • The $368.2m senior secured seven-year term loan B-3 issued by MA FinanceCo LLC is priced at LIBOR plus 2.50% (subject to a LIBOR floor of 0.00%) with an original issue discount of 0.25%; • The $2,486.3m senior secured seven-year term loan B issued by Seattle SpinCo. Inc. is priced at LIBOR plus 2.50% (subject to a LIBOR floor of 0.00%) with an original issue discount of 0.25%; and • The €452.8m m (equivalent to $505.8m) senior secured seven-year term loan B issued by MA FinanceCo LLC is priced at EURIBOR plus 2.75% (subject to a EURIBOR floor of 0.00%) with an original issue discount of 0.25%. The following facilities were undrawn as at October 31, 2019: • A senior secured revolving credit facility of $500.0m, “Revolving Facility”, with an interest rate of 3.25% above LIBOR on amounts drawn (and 0.375% on amounts undrawn) thereunder (subject to a LIBOR floor of 0.00%). The only financial covenant attaching to these facilities relates to the Revolving Facility, which is subject to an aggregate net leverage covenant only in circumstances where more than 35% of the Revolving Facility is outstanding at a fiscal quarter end. At October 31, 2019, $nil of the Revolving Facility was drawn together with $4,775.0m of Term Loans giving gross debt of $4,775.0m drawn. As a covenant test is only applicable when the Revolving Facility is drawn down by 35% or more, and $nil of Revolving Facility was drawn at October 31, 2019, no covenant test is applicable. The movements on the Group loans in the period were as follows: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $m $m $m $m $m $m At May 1, 2017 1,515.2 - - - 80.0 1,595.2 Acquisitions - - 2,600.0 - - 2,600.0 Draw downs - 385.0 - 523.8 135.0 1,043.8 Repayments (11.4 ) (2.9 ) (19.5 ) (4.1 ) (215.0 ) (252.9 ) Foreign exchange - - - 10.8 - 10.8 At October 31, 2018 1,503.8 382.1 2,580.5 530.5 - 4,996.9 At November 1, 2018 1,503.8 382.1 2,580.5 530.5 - 4,996.9 Draw downs - - - - - - Repayments (89.1 ) (13.9 ) (94.2 ) (15.4 ) - (212.6 ) Foreign exchange - - - (9.3 ) - (9.3 ) At October 31, 2019 1,414.7 368.2 2,486.3 505.8 - 4,775.0 Borrowings are stated after deducting unamortized prepaid facility fees and original issue discounts. Facility arrangement costs and original issue discounts are amortized between three and six years. Long-term borrowings with a carrying value of $4,775.0m before unamortized prepaid facility fees, have a fair value estimate of $4,686.0m based on trading prices as at October 31, 2019. Maturity of borrowings The maturity profile of the anticipated future cash flows including interest in relation to the Group’s borrowings on an undiscounted basis, which therefore, differs from both the carrying value and fair value, is as follows: As at October 31, 2019: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $m $m $m $m $m $m Within one year 61.6 17.0 114.6 14.1 1.9 209.2 In one to two years 61.5 16.9 114.3 14.6 1.9 209.2 In two to three years 1,419.8 18.5 124.1 19.3 1.6 1,583.3 In three to four years - 20.6 139.4 19.1 - 179.1 In four to five years - 373.5 2,522.6 503.6 - 3,399.7 In more than five years - - - - - - At October 31, 2019 1,542.9 446.5 3,015.0 570.7 5.4 5,580.5 Less than 1 year 1-3 years 3-5 years After 5 years Total $m $m $m $m $m Debt principal repayment - 1,431.7 3,343.3 - 4,775.0 Interest payment on debt 209.2 360.6 235.7 - 805.5 At October 31, 2019 209.2 1,792.3 3,579.0 - 5,580.5 As at October 31, 2018: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $m $m $m $m $m $m Within one year 84.3 22.4 151.2 20.1 1.9 279.9 In one to two years 83.8 22.2 150.2 20.0 1.9 278.1 In two to three years 82.9 22.0 148.6 19.8 1.9 275.2 In three to four years 1,462.1 21.8 147.4 19.6 1.6 1,652.5 In four to five years - 21.6 146.1 19.5 - 187.2 In more than five years - 374.2 2,526.8 512.7 - 3,413.7 At October 31, 2018 1,713.1 484.2 3,270.3 611.7 7.3 6,086.6 Less than 1 year 1-3 years 3-5 years After 5 years Total $m $m $m $m $m Debt principal repayment 50.3 100.7 1,528.8 3,317.1 4,996.9 Interest payment on debt 229.6 452.6 310.9 96.6 1,089.7 At October 31, 2018 279.9 553.3 1,839.7 3,413.7 6,086.6 Assets pledged as collateral An all assets security has been granted in the US and England & Wales by certain members of the Micro Focus Group organized in such jurisdictions, including security over intellectual property rights and shareholdings of such members of the Micro Focus Group. |
Finance leases
Finance leases | 12 Months Ended |
Oct. 31, 2019 | |
Finance leases [Abstract] | |
Finance leases | 21 Finance leases October 31, 2019 October 31, 2018 $m $m Current 11.8 13.6 Non-current 11.7 14.9 23.5 28.5 Finance lease liabilities – minimum lease payments: October 31, 2019 October 31, 2018 $m $m Within one year 13.1 15.1 Between one and five years 12.5 16.0 25.6 31.1 Future lease charges (2.1 ) (2.6 ) 23.5 28.5 The carrying value of computer equipment held under finance leases and hire purchase contracts as at October 31, 2019 was $20.9m (October 31, 2018: $25.9m) (note 12). Finance lease liabilities – present value of minimum lease payments: October 31, 2019 October 31, 2018 $m $m Within one year 11.8 13.6 Between one and three years 10.8 13.3 Between three and five years 0.9 1.6 23.5 28.5 The Group’s obligations under finance leases are secured by charges over the related leased assets. The weighted average fixed interest rate on the outstanding finance lease liabilities is 7.5% (October 31, 2018: 8.5%). |
Current tax receivables, curren
Current tax receivables, current tax liabilities and non-current tax liabilities | 12 Months Ended |
Oct. 31, 2019 | |
Current tax receivables, current tax liabilities and non-current tax liabilities [Abstract] | |
Current tax receivables, current tax liabilities and non-current tax liabilities | 22 Current tax receivables, current tax liabilities and non-current tax liabilities Current tax receivables October 31, 2019 October 31, 2018 $m $m Corporation tax 40.1 24.5 The current tax receivable at October 31, 2019 is $40.1m (October 31, 2018: $24.5m). Current tax liabilities October 31, 2019 October 31, 2018 $m $m Corporation tax 104.0 124.1 The current tax creditor at October 31, 2019 is $104.0m (October 31, 2018: $124.1m). The current tax creditor includes liabilities in respect of uncertain tax positions, net of overpayments. Within current tax liabilities is $78.3m (October 31, 2018: $67.7m) in respect of the Group income tax reserve, the majority of which relates to the risk of challenge from the local tax authorities. The Group does not anticipate that there will be any material change to these provisions in the next 12 months. Due to the uncertainty associated with such tax items, it is possible that at a future date, on conclusion of open tax matters, the final outcome may vary significantly. Non-current tax liabilities October 31, 2019 October 31, 2018 $m $m Corporation tax 119.7 131.0 The non-current tax creditor is $119.7m (October 31, 2018: $131.0m). The non-current creditor reflects the US transition tax payable more than 12 months after the balance sheet date. |
Contract liabilities
Contract liabilities | 12 Months Ended |
Oct. 31, 2019 | |
Contract liabilities [Abstract] | |
Contract liabilities | 23 Contract liabilities October 31, 2019 October 31, 2018 $m $m Current 1,045.9 1,134.7 Non-current 149.9 178.1 1,195.8 1,312.8 Contract liabilities as at October 31, 2019 were $1,195.8m (October 31, 2018: $1,312.8m). The movement in contract liabilities in the period mainly results from new amounts being deferred, where the billing is advance of satisfaction of the related performance obligation, and amounts being recognized as revenue, where performance obligations have been satisfied. The amount of revenue recognized in the reporting period that was included in the contract liability balance as at November 1, 2018 was $1,134.7m. Revenue billed but not recognized in the Consolidated statement of comprehensive income under the Group’s accounting policy for revenue recognition is classified as contract liabilities in the consolidated statement of financial position to be recognized in future periods. Contract liabilities primarily relates to undelivered maintenance and subscription services on billed contracts. Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. The remaining revenue allocated to future performance obligations was $1,468.9m as at October 31, 2019, of which approximately 80% of the revenue is expected to be recognized over the next 12 months and the remainder thereafter. This amount mostly comprises obligations to provide maintenance and SaaS subscriptions as the contracts have durations of one or multiple years. |
Provisions
Provisions | 12 Months Ended |
Oct. 31, 2019 | |
Provisions [Abstract] | |
Provisions | 24 Provisions October 31, 2019 October 31, 2018 $m $m Onerous leases and dilapidations 34.2 35.1 Restructuring 36.4 50.7 Legal 5.7 7.0 Other 2.1 - Total 78.4 92.8 Current 29.3 57.4 Non-current 49.1 35.4 Total 78.4 92.8 Onerous leases and dilapidations Restructuring Legal Other Total Note $m $m $m $m $m At November 1, 2018 35.1 50.7 7.0 - 92.8 Acquisitions – Interset Software Inc. 38 - - - 0.7 0.7 Additional provision in the period 19.2 49.4 5.4 2.1 76.1 Released (7.4 ) (19.8 ) (6.2 ) - (33.4 ) Utilization of provision (13.9 ) (43.5 ) (0.5 ) (0.7 ) (58.6 ) Unwinding of discount 1.1 - - - 1.1 Effects of movements in exchange rates 0.1 (0.4 ) - - (0.3 ) At October 31, 2019 34.2 36.4 5.7 2.1 78.4 Current 9.5 12.0 5.7 2.1 29.3 Non-current 24.7 24.4 - - 49.1 Total 34.2 36.4 5.7 2.1 78.4 Onerous leases and dilapidations Restructuring Legal Other Total Note $m $m $m $m $m At May 1, 2017 16.3 12.1 3.2 0.5 32.1 Continuing operations: Acquisitions – HPE Software business 38 11.3 21.4 36.5 - 69.2 Additional provision in the period 17.7 133.4 1.4 - 152.5 Released (3.9 ) (3.7 ) (4.7 ) (0.4 ) (12.7 ) Utilization of provision (5.6 ) (110.0 ) (29.3 ) (0.1 ) (145.0 ) Effects of movements in exchange rates (0.7 ) (2.5 ) (0.1 ) - (3.3 ) Discontinued operation: Additional provision in the period 2.8 0.2 - - 3.0 Reclassification of current assets classified as held for sale 37 (2.8 ) (0.2 ) - - (3.0 ) At October 31, 2018 35.1 50.7 7.0 - 92.8 Current 11.2 39.2 7.0 - 57.4 Non-current 23.9 11.5 - - 35.4 Total 35.1 50.7 7.0 - 92.8 Onerous leases and dilapidations provisions The onerous lease and dilapidations provision relates to leased Group properties and this position is expected to be fully utilized within eight years. An additional provision of $19.2m was recorded in the 12 months ended October 31, 2019, mainly across European and US sites, as the property portfolio was reassessed, including planned site vacations and a review of obligations to restore leased property at the end of the lease period. The provision was increased by $29.0m in the 18 months ended October 31, 2018, due to the acquisition of the HPE Software business ($11.3m) and relating to legal obligations to restore leased properties at the end of the lease period and a reassessment of sites across North America, United Kingdom, Israel and Australia ($17.7m). Provisions of $3.9m were released following the renegotiation/exit of leases of two North American properties. Restructuring provisions Restructuring provisions relate to severance resulting from headcount reductions. The majority of provisions are expected to be fully utilized within 24 months. Restructuring costs are reported within exceptional costs (note 4). Legal provisions Legal provisions include the directors’ best estimate of the likely outflow of economic benefits associated with on-going legal matters. Further information on legal matters can be found in note 35, contingent liabilities. Other provisions Other provisions during the 12 months ended October 31, 2019 relate to interest on uncertain tax provisions of $2.1m. Releases of other provisions during the 18 months ended October 31, 2018 relate to future fees no longer considered likely to be incurred. |
Pension commitments
Pension commitments | 12 Months Ended |
Oct. 31, 2019 | |
Pension commitments [Abstract] | |
Pension commitments | 25 Pension commitments a) Defined contribution The Group has established a number of pension schemes around the world covering many of its employees. The principal funds are those in the US, UK and Germany. These were funded schemes of the defined contribution type. Pension costs for defined contributions schemes are as follows: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Continuing operations Note $m $m $m Defined contribution schemes 33 32.7 43.3 10.9 b) Defined benefit October 31, 2019 October 31, 2018 $m $m Within non-current assets: Long-term pension assets 17.1 16.7 Within non-current liabilities: Retirement benefit obligations (141.4 ) (110.4 ) The acquisition and subsequent integration of the software segment of Hewlett Packard Enterprise Company (“HPE Software”) on September 1, 2017 added 27 defined benefit plans primarily in France, Germany and Switzerland. As of October 31, 2019 there are a total of 30 defined benefit plans in 10 countries around the world (October 31, 2018: 30). The highest concentration of the pension schemes are in Germany, where the Group sponsor 11 separate schemes that comprise over 85% of the total net retirement benefit obligation recorded on our Consolidated statement of financial position. Our German schemes are primarily final salary pension plans, which provide benefits to members in the form of a guaranteed level of pension payable for life in the case of retirement, disability and death. The level of benefits provided depends not only on the final salary but also on members’ length of service, social security ceiling and other factors. Although most of these schemes in Germany are funded at some level, there are no funding requirements in Germany. There are no requirements for the appointment of independent trustees in Germany, and all of these schemes are administered locally with the assistance of German pension experts. Final pension entitlements, including benefits for death in service and disability amounts, are calculated by these experts. Plan assets for three of our German schemes include re-insurance contracts with guaranteed interest rates, while the majority of the schemes invest in funds focusing on equities and debt instruments. Most of our German schemes are closed to new entrants, however, two of the schemes are open to new members. The remainder of the Group’s defined benefit schemes are comprised of a mix of final salary plans, termination or retirement indemnity plans and other types of statutory plans that provide a one-time benefit at termination. Final pension entitlements are calculated by local administrators in the applicable country. They also complete calculations for cases of death in service and disability. Where required by local or statutory requirements, some of the schemes are governed by an independent Board of Trustees that is responsible for the investment strategies with regard to the assets of the funds, however, other schemes are administered locally with the assistance of local pension experts. Many of the Group’s plans outside of Germany are funded and the Group makes at least the minimum contributions required by local government, funding and taxing authorities. Plan assets for these schemes include a range of assets including investment funds or re-insurance contracts. Not all of these plans are closed for new membership. The Group sponsors 10 plans outside of Germany that are open to new members, most of which are termination or retirement indemnity plans or statutory plans providing a one-time benefit at termination, retirement, death or disability. As a result of the acquisition of HPE Software, the Group participates in multi-employer plans in Switzerland and Japan. These plans are accounted for as defined benefit plans and the Group’s obligations are limited to the liabilities of our employees. Long-term pension assets Long-term pension assets relate to the contractual arrangement under insurance policies held by the Group with guaranteed interest rates that do not meet the definition of a qualifying insurance policy as they have not been pledged to the plan or beneficiaries and are subject to the creditors of the Group. Such arrangements are recorded in the Consolidated statement of financial position as long-term pension assets. These contractual arrangements are treated as financial assets measured at fair value through Other comprehensive income. Movement in the fair value of long-term pension assets is included in Other comprehensive income. All non-plan assets are held in Germany. The movement on the long-term pension asset is as follows: October 31, 2019 October 31, 2018 Note $m $m As at November 1 / May 1 16.7 22.0 Reclassification to assets held for sale 0.1 (1.5 ) Interest on non-plan assets 6 0.3 0.6 Benefits paid (0.1 ) (0.2 ) Contributions 0.3 0.5 Included within other comprehensive income: - Change in fair value assessment 0.4 (6.1 ) - Actuarial gain on non-plan assets - 0.3 0.4 (5.8 ) Effects of movements in exchange rates (0.6 ) 1.1 As at October 31, 17.1 16.7 Included within other comprehensive income: Continuing operations 0.3 (5.3 ) Discontinued operation 0.1 (0.5 ) 0.4 (5.8 ) The non-plan assets are considered to be Level 3 asset under the fair value hierarchy as of October 31, 2019. These assets have been valued by an external insurance expert by applying a discount rate to the future cash flows and taking into account the fixed interest rate, mortality rates and term of the insurance contract. There have been no transfers between levels for the period ended October 31, 2019 (October 31, 2018: none). Retirement benefit obligations The following amounts have been included in the Consolidated statement of comprehensive income for defined benefit pension arrangements: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Current service charge 9.0 12.6 0.5 Past service credit - (5.5 ) - Charge to operating profit 33 9.0 7.1 0.5 Current service charge – discontinued operations 0.1 0.3 0.1 Interest on pension scheme liabilities 4.2 5.2 0.7 Interest on pension scheme assets (1.8 ) (2.4 ) (0.1 ) Charge to finance costs 6 2.4 2.8 0.6 Total continuing charge to profit for the period 11.5 10.2 1.2 Past service credits are the result of headcount reductions under the Group’s restructuring and integration activities relating to the acquisition of the HPE Software business (note 38). The contributions for the year ended October 31, 2020 are expected to be broadly in line with the 12 months to October 31, 2019. The Group funds the schemes so that it makes at least the minimum contributions required by local government, funding and taxing authorities. The following amounts have been recognized as movements in the Consolidated statement of other comprehensive income: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Actuarial return on assets excluding amounts included in interest income 5.9 0.6 - Re-measurements – actuarial gains/(losses): - Demographic (1.6 ) 0.3 - - Financial (38.8 ) (11.1 ) 2.8 - Experience 8.4 1.9 0.6 (32.0 ) (8.9 ) 3.4 Reclassification from defined contribution scheme to defined benefit scheme - (2.1 ) (3.0 ) Movement in the period (26.1 ) (10.4 ) 0.4 Continuing operations (26.2 ) (8.9 ) (0.2 ) Discontinued operation 0.1 (1.5 ) 0.6 (26.1 ) (10.4 ) 0.4 The weighted average key assumptions used for the valuation of the schemes were: October 31, 2019 October 31, 2018 Germany Rest of World Total Germany Rest of World Total Rate of increase in final pensionable salary 2.50 % 3.09 % 2.65 % 2.50 % 2.75 % 2.61 % Rate of increase in pension payments 1.75 % 1.50 % 1.75 % 2.00 % 1.50 % 1.99 % Discount rate 1.09 % 1.71 % 1.20 % 1.83 % 2.14 % 1.92 % Inflation 1.75 % 1.16 % 1.69 % 2.00 % 1.26 % 1.89 % During the 12 months ended October 31, 2019, the model used to derive our discount rates was updated to better reflect yields on corporate bonds over the life of our schemes. The key difference in the revised model lies in the extrapolation of yields in the outlying years of the curve and uses AA government bond rates to determine these yields. This change resulted in a decrease in our defined benefit obligation of approximately $14.0m. The old and revised models are both considered standard models devised by our external consolidating actuary. The mortality assumptions for the German schemes are set based on the ‘Richttafeln 2018 G’ by Prof. Dr. Klaus Heubeck. The mortality assumptions for the remaining schemes are set based on actuarial advice in accordance with published statistics and experience in each territory. These assumptions translate into a weighted average life expectancy in years for a pensioner retiring at age 65: October 31, 2019 October 31, 2018 Germany Rest of World Total Germany Rest of World Total Retiring at age 65 at the end of the reporting period: Male 20 20 20 20 20 20 Female 23 23 23 23 23 23 Retiring 15 years after the end of the reporting period: Male 22 23 22 22 22 22 Female 25 26 25 25 25 25 The net liability included in the Consolidated statement of financial position arising from obligations in respect of defined benefit schemes is as follows: October 31, 2019 October 31, 2018 Germany Rest of World Total Germany Rest of World Total Present value of defined benefit obligations 213.5 48.0 261.5 173.8 47.4 221.2 Fair values of plan assets (92.0 ) (28.1 ) (120.1 ) (82.1 ) (28.7 ) (110.8 ) 121.5 19.9 141.4 91.7 18.7 110.4 The defined benefit obligation has moved as follows: October 31, 2019 Germany Rest of World Total Defined benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations $m $m $m $m $m $m $m $m $m At November 1, 2018 173.8 (82.1 ) 91.7 47.4 (28.7 ) 18.7 221.2 (110.8 ) 110.4 Reclassification to assets held for sale 0.3 - 0.3 0.2 (0.2 ) - 0.5 (0.2 ) 0.3 Current service cost 6.0 - 6.0 3.1 - 3.1 9.1 - 9.1 Past service credit - - - - - - - - - Benefits paid (0.4 ) 0.3 (0.1 ) (4.2 ) 4.1 (0.1 ) (4.6 ) 4.4 (0.2 ) Contributions by plan participants 1.5 (1.5 ) - 0.3 (0.3 ) - 1.8 (1.8 ) - Contribution by employer - (0.3 ) (0.3 ) - (4.2 ) (4.2 ) - (4.5 ) (4.5 ) Interest cost/(income) (note 6) 3.1 (1.5 ) 1.6 1.1 (0.3 ) 0.8 4.2 (1.8 ) 2.4 Included within Other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic 1.6 - 1.6 - - - 1.6 - 1.6 - Financial 34.0 - 34.0 4.8 - 4.8 38.8 - 38.8 - Experience (3.2 ) - (3.2 ) (5.2 ) - (5.2 ) (8.4 ) - (8.4 ) Actuarial return on assets excluding amounts included in interest income - (8.0 ) (8.0 ) - 2.1 2.1 - (5.9 ) (5.9 ) 32.4 (8.0 ) 24.4 (0.4 ) 2.1 1.7 32.0 (5.9 ) 26.1 Effects of movements in exchange rates (3.2 ) 1.1 (2.1 ) 0.5 (0.6 ) (0.1 ) (2.7 ) 0.5 (2.2 ) At October 31, 2019 213.5 (92.0 ) 121.5 48.0 (28.1 ) 19.9 261.5 (120.1 ) 141.4 October 31, 2018 Germany Rest of World Total Defined benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit Scheme assets Retirement benefit obligations $m $m $m $m $m $m $m $m $m At May 1, 2017 36.5 (5.7 ) 30.8 - - - 36.5 (5.7 ) 30.8 HPE Software business acquisition 121.1 (77.0 ) 44.1 60.4 (33.0 ) 27.4 181.5 (110.0 ) 71.5 Reclassification to assets held for sale (4.8 ) 0.7 (4.1 ) (4.3 ) 2.9 (1.4 ) (9.1 ) 3.6 (5.5 ) Current service cost 7.7 - 7.7 5.2 - 5.2 12.9 - 12.9 Past service credit (0.8 ) - (0.8 ) (4.7 ) - (4.7 ) (5.5 ) - (5.5 ) Benefits paid (0.3 ) 0.1 (0.2 ) (9.3 ) 9.3 - (9.6 ) 9.4 (0.2 ) Contributions by plan participants 1.5 (1.5 ) - 1.0 (0.8 ) 0.2 2.5 (2.3 ) 0.2 Contribution by employer - (0.1 ) (0.1 ) - (3.9 ) (3.9 ) - (4.0 ) (4.0 ) Interest cost/(income) (note 6) 4.0 (2.0 ) 2.0 1.2 (0.4 ) 0.8 5.2 (2.4 ) 2.8 Included within Other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic (0.1 ) - (0.1 ) (0.2 ) - (0.2 ) (0.3 ) - (0.3 ) - Financial 13.8 - 13.8 (2.7 ) - (2.7 ) 11.1 - 11.1 - Experience 0.5 - 0.5 (2.4 ) - (2.4 ) (1.9 ) - (1.9 ) Actuarial return on assets excluding amounts included in interest income - (0.2 ) (0.2 ) - (0.4 ) (0.4 ) - (0.6 ) (0.6 ) Reclassification from defined contribution scheme to defined benefit scheme - - - 5.5 (3.4 ) 2.1 5.5 (3.4 ) 2.1 14.2 (0.2 ) 14.0 0.2 (3.8 ) (3.6 ) 14.4 (4.0 ) 10.4 Effects of movements in exchange rates (5.3 ) 3.6 (1.7 ) (2.3 ) 1.0 (1.3 ) (7.6 ) 4.6 (3.0 ) At October 31, 2018 173.8 (82.1 ) 91.7 47.4 (28.7 ) 18.7 221.2 (110.8 ) 110.4 None of the plan assets are represented by financial instruments of the Group. None of the plan assets are occupied or used by the Group. The major categories of the plan assets are as follows: October 31, 2019 Germany Rest of World Total Quoted Unquoted Total Quoted Unquoted Total Quoted Unquoted Total $m $m $m $m $m $m $m $m $m Funds that invest in: - Equity instruments 39.8 - 39.8 - 5.5 5.5 39.8 5.5 45.3 - Debt instruments 46.6 - 46.6 3.0 6.0 9.0 49.6 6.0 55.6 - Real estate - - - - 3.1 3.1 - 3.1 3.1 Cash and cash equivalents - - - - 1.7 1.7 - 1.7 1.7 Re-insurance contracts with guaranteed interest rates * - 5.6 5.6 - - - - 5.6 5.6 Other - - - - 8.8 8.8 - 8.8 8.8 Total 86.4 5.6 92.0 3.0 25.1 28.1 89.4 30.7 120.1 October 31, 2018 Germany Rest of World Total Quoted Unquoted Total Quoted Unquoted Total Quoted Unquoted Total $m $m $m $m $m $m $m $m $m Funds that invest in: - Equity instruments 42.3 - 42.3 7.6 1.6 9.2 49.9 1.6 51.5 - Debt instruments 34.3 - 34.3 3.1 5.1 8.2 37.4 5.1 42.5 - Real estate - - - 2.0 0.1 2.1 2.0 0.1 2.1 Cash and cash equivalents - - - - 2.3 2.3 - 2.3 2.3 Re-insurance contracts with guaranteed interest rates * - 5.5 5.5 - - - - 5.5 5.5 Other - - - - 6.9 6.9 - 6.9 6.9 Total 76.6 5.5 82.1 12.7 16.0 28.7 89.3 21.5 110.8 * The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. Risk Management Through its defined benefit schemes the Group is exposed to a number of risks, the most significant of which are detailed below: – Changes in bond yields – A decrease in corporate bond yields will increase the Group’s IAS 19 plan liabilities, although this will be partially offset by increases in the value of scheme assets. – Inflation – Some of the Group pension obligations are linked to inflation, and higher inflation will lead to higher liabilities. – Life expectancy – The majority of the plan obligations are to provide benefits over the life of the member, so increases in life expectancy will result in an increase in the plan liabilities as benefits would be paid over a longer period. – Asset returns – Returns on plan assets are subject to volatility and may not move in line with plan liabilities. The Group ensures that the investment positions are managed within an asset liability matching (“ALM”) to achieve long-term investments that are in line with the obligations under the pension schemes. Within this framework the Group’s objective is to match assets to the pension obligations by investing in assets that match the benefit payments as they fall due and in the appropriate currency. Sensitivities The table below provides information on the sensitivity of the defined benefit obligation to changes to the most significant actuarial assumptions. The table shows the impact of changes to each assumption in isolation, although, in practice, changes to assumptions may occur at the same time and can either offset or compound the overall impact on the defined benefit obligation. These sensitivities have been calculated using the same methodology as used for the main calculations. The weighted average duration of the defined benefit obligation is 25 years for Germany and 14 years for all other schemes. Germany Rest of World Change in assumption Change in defined benefit obligation Change in assumption Change in defined benefit obligation Discount rate for scheme liabilities 0.50 % (11.5 %) 0.50 % (6.7 %) Price inflation 0.25 % 3.8 % 0.25 % 0.9 % Salary growth rate 0.50 % 1.0 % 0.50 % 3.6 % Life expectancy 1 year 3.7 % 1 year 1.3 % |
Other non-current liabilities
Other non-current liabilities | 12 Months Ended |
Oct. 31, 2019 | |
Other non-current liabilities [Abstract] | |
Other non-current liabilities | 26 Other non-current liabilities October 31, 2019 October 31, 2018 $m $m Accruals 50.4 58.0 50.4 58.0 Accruals includes employee benefit liability $33.3m (October 31, 2018: $31.0m) that relates to employee obligations in certain countries, a deferred gain on real estate $8.1m (October 31, 2018: $14.0m) relating to free-rent incentives or tenant improvement allowances given by landlords and an IT contractual liability $6.6m (October 31, 2018: $11.3m). |
Financial instruments
Financial instruments | 12 Months Ended |
Oct. 31, 2019 | |
Financial instruments [Abstract] | |
Financial instruments | 27 Financial instruments The tables below set out the values of financial and non-financial assets and liabilities. Financial October 31, 2019 Non- financial October 31, 2019 Total October 31, 2019 Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Note $m $m $m $m $m $m Financial and non-financial assets Non-current Long-term pension assets 25 17.1 - 17.1 16.7 - 16.7 Derivative financial instruments – Interest rate swaps 31 - - - - 86.4 86.4 Current Cash and cash equivalents 18 355.7 - 355.7 620.9 - 620.9 Trade and other receivables 16 922.7 110.2 1,032.9 1,212.0 60.0 1,272.0 1,295.5 110.2 1,405.7 1,849.6 146.4 1,996.0 Financial October 31, 2019 Non- financial October 31, 2019 Total October 31, 2019 Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Note $m $m $m $m $m $m Financial and non-financial liabilities – financial liabilities at amortized cost Non-current Derivative financial instruments – Interest rate swaps 36.5 - 36.5 - - - Borrowings (gross) 20 4,775.0 - 4,775.0 4,946.6 - 4,946.6 Finance leases 21 11.7 - 11.7 14.9 - 14.9 Provisions 24 49.1 - 49.1 35.4 - 35.4 Current Borrowings (gross) 20 - - - 50.3 - 50.3 Finance leases 21 11.8 - 11.8 13.6 - 13.6 Trade and other payables 19 530.3 80.7 611.0 676.9 - 676.9 Provisions 24 29.3 - 29.3 57.4 - 57.4 5,443.7 80.7 5,524.4 5,795.1 - 5,795.1 Fair value measurement For trade and other receivables, cash and cash equivalents, trade and other payables, obligations under finance leases and provisions, fair values approximate to book values due to the short maturity periods of these financial instruments. For trade and other receivables, allowances are made for credit risk. Long-term borrowings with a carrying value of $4,775.0m before unamortized prepaid facility fees, have a fair value estimate of $4,686.0m based on trading prices as at October 31, 2019 (note 20). Derivative financial instruments measured at fair value are classified as level 2 in the fair value measurement hierarchy as they have been determined using significant inputs based on observable market data. The fair values of interest rate derivatives are derived from forward interest rates based on yield curves observable at the balance sheet date together with the contractual interest rates. There were no transfers of assets or liabilities between levels of the fair value hierarchy during the period. The Group has four interest rate swaps which are designated in a hedge relationship and also utilized forward exchange contracts to fix Sterling equivalent on the April 2019 Return of Value to shareholders (note 29) and the April 2019 and September 2019 dividend payments. The forward contracts were not designated for formal hedge accounting and matured for delivery within the reporting period. October 31, 2019 October 31, 2018 $m $m Derivative financial instruments- non-current asset – interest rate swaps - 86.4 Derivative financial instruments- non-current liabilities – interest rate swaps (36.5 ) - (36.5 ) 86.4 Derivative financial instruments Derivatives are only used for economic hedging purposes and not as speculative investments. Four interest rate swaps are in place with a total notional value of $2.25bn to hedge against the impact of potential rises in interest rates until September 30, 2022. The swaps are designated against the $2,486.3m (note 20) loan issued by Seattle SpinCo. Inc. and the notional value covers 52.7% of the overall dollar loan principal outstanding for the Group. The swap contracts require settlement of net interest receivable or payable on a monthly basis. The fixed interest rate for each swap is 1.949% and the Group receives a variable rate in line with LIBOR. The Seattle loan is priced at LIBOR (with a floor) plus a current margin of 2.50% with the swaps aimed at addressing the risk of a rising LIBOR element. As such, the total interest cost of the hedged element of the Seattle loan is 4.44%. For the period to October 31, 2019, net interest received for the swaps amounted to $9.9m. For the life of the swap, net interest received amounted to $6.5m. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic effectiveness assessments (adjusted for credit risk) to ensure that an economic relationship exists between the hedged item and the hedging instrument. The testing determined that the hedge was highly effective throughout the financial reporting period for which the hedge was designated. The impact of changes in the fair value of interest rate swaps in the year ended October 31, 2019 is shown in the Consolidated statement of comprehensive income. Note 31 shows the derivative financial instruments relating to hedging transactions entered into in the period ended October 31, 2019 (other reserves). October 31, 2019 October 31, 2018 $m $m Carrying amount (36.5 ) 86.4 Notional amount (4 x $562.5m) 2,250.0 2,250.0 Maturity date September 30, 2022 September 30, 2022 Change in fair value of outstanding hedging instruments (note 31) (122.9 ) 86.4 Change in value of hedging instruments adjusted for credit risk (121.9 ) 84.7 Credit risk The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at October 31, 2019 was: October 31, 2019 October 31, 2018 Note $m $m Trade receivables (gross) 16 877.9 1,089.6 Cash and cash equivalents 18 355.7 620.9 Total 1,233.6 1,710.5 The Group applies the IFRS 9 expedited approach to measuring expected credit losses, which uses a lifetime expected credit loss allowance for all trade receivables. A provision of the lifetime expected credit loss is established upon initial recognition of the underlying asset by predicting the future cash flows based upon the days past due status of an invoice and other relevant information. The model uses historical collection data along with historical credit losses experienced. The loss allowance is adjusted for forward-looking factors specific to the receivable and the economic environment. Trade receivables are written off when there is no reasonable expectation of recovery. Impairment losses on trade receivables are presented as net impairment losses within operating profit. Subsequent recoveries of amounts previously written off are credited against the same line item. On that basis, the loss allowance as at October 31, 2019 and November 1, 2018 (on adoption of IFRS 9) was determined as follows for trade receivables (note 16): October 31, 2019 October 31, 2018 $’m $’m At November 1 / May 1 – calculated under IAS 39 41.9 2.6 Accounting policy change – IFRS 9 (recognized against retained earnings on November 1, 2018) 20.0 - 61.9 2.6 Loss allowance provided in the period 16.0 40.0 Receivables written off as uncollectable (35.5 ) (0.7 ) At October 31 42.4 41.9 In the prior period, the impairment of trade receivables was assessed based on the incurred loss model. Individual receivables, which were known to be uncollectable were written off by reducing the carrying amount directly. The other receivables were assessed collectively to determine whether there was objective evidence that an impairment had been incurred but not yet been identified. Receivables for which an impairment provision was recognized were written off against the provision when there was no expectation of recovering additional cash. Market risk The Group’s treasury function aims to reduce exposures to interest rate, foreign exchange and other financial risks, to ensure liquidity is available as and when required, and to invest cash assets safely and profitably. The Group does not engage in speculative trading in financial instruments. The treasury function’s policies and procedures are reviewed and monitored by the Audit committee and are subject to internal audit review. Foreign exchange risk The Group’s currency exposures comprise those that give rise to net currency gains and losses to be recognized in the Consolidated statement of comprehensive income as well as gains and losses on consolidation, which go to reserves. Such exposures reflect the monetary assets and liabilities of the Group that are not denominated in the operating or functional currency of the operating unit involved and the Group’s investment in net assets in currencies other than US Dollar. Note 3 shows the impact on the Consolidated statement of comprehensive income of foreign exchange losses in the 12 months ended October 31, 2019 of $11.3m (18 months ended October 31, 2018: $37.4m gain). Sensitivity analysis The Group’s principal exposures in relation to market risks are the changes in the exchange rates between the US Dollar and transactions made in other currencies as well as changes in US Dollar LIBOR interest rates. Foreign exchange exposures for all re-measuring balances are tracked and reported to management. The key drivers are cash, borrowings and inter-company positions with trade receivables and trade payables having less relative aggregate exposure. As at October 31, 2019, the key aggregate exposures involved the Euro, British Sterling, Japanese Yen, Israeli Shekel and Canadian Dollar. The table below illustrates the equity sensitivity analysis of the Group exposures to movements in currency and interest rates. Group exposure +/- 5% +/- 10% +/- 1% interest Key aggregate currency exposures $m $m $m $m Euro 512.6 25.6 51.2 GBP 137.2 6.8 13.7 JPY 69.6 3.5 6.9 ILS 36.7 1.8 3.7 CAN$ 26.1 1.3 2.6 Borrowings -Interest rate LIBOR +1% (based on gross debt excluding the effects of hedging) n/a n/a n/a 47.75 Capital risk management The Group’s objective when managing its capital structures is to minimize the cost of capital while maintaining adequate capital to protect against volatility in earnings and net asset values. The strategy is designed to maximize shareholder return over the long-term. The only financial covenant attaching to these facilities relates to the Revolving Facility, which is subject to an aggregate net leverage covenant only in circumstances where more than 35% of the Revolving Facility is outstanding at a fiscal quarter end. The facility was not utilized as at October 31, 2019 and therefore no covenant test is applicable. The capital structure of the Group at the Consolidated statement of financial position date is as follows: October 31, 2019 October 31, 2018 Note $m $m Bank and other borrowings (net of arrangement fees) 20 4,670.7 4,845.9 Finance lease obligations 21 23.5 28.5 Less cash and cash equivalents 18 (355.7 ) (620.9 ) Total net debt 4,338.5 4,253.5 Total equity 6,276.3 7,792.0 Debt/equity % 69.1 % 54.6 % Borrowings are shown here net of unamortized prepaid facility arrangement fees of $104.3m. (October 31, 2018: $151.0m). Gross borrowings are $4,775.0m (October 31, 2018: $4,996.9m). Change in liabilities arising from financing activities for interest bearing loans (note 20) and finance leases (note 21) were as follows: Interest bearing loans Finance leases Total $m $m $m At November 1, 2018 4,996.9 28.5 5,025.4 Draw down/New leases - 9.0 9.0 Repayments (212.6 ) (14.9 ) (227.5 ) Foreign exchange (9.3 ) 0.9 (8.4 ) At October 31, 2019 4,775.0 23.5 4,798.5 |
Deferred tax
Deferred tax | 12 Months Ended |
Oct. 31, 2019 | |
Deferred tax [Abstract] | |
Deferred tax | 28 Deferred tax 12 months ended October 31, 2019 18 months ended October 31, 2018 Net Deferred tax liability Note $m $m At November 1 / May 1 (1,170.5 ) (118.5 ) Credited/(debited) to consolidated statement of comprehensive income: 188.7 (17.1 ) - Continuing operations 7 156.4 (27.6 ) - Discontinued operation 32.3 10.5 Credited directly to equity in relation to share options (7.6 ) (23.7 ) Credited to other comprehensive income: 27.0 4.3 - Continuing operations 27.0 3.8 - Discontinued operation - 0.5 Acquisition of subsidiaries: - (1,957.4 ) Acquisition of subsidiaries – HPE Software business 38 - (1,953.5 ) Acquisition of subsidiaries – COBOL-IT 38 - (3.9 ) Impact of adoption of IFRS 9 4.4 - Impact of adoption of IFRS15 (17.3 ) - Foreign exchange adjustment (11.8 ) 11.6 Reclassification to current assets held for sale 37 - (1.6 ) Effect of change in tax rates – charged to Consolidated statement of comprehensive income - 931.9 At October 31 (987.1 ) (1,170.5 ) Deferred tax assets and liabilities below are presented net where there is a legally enforceable right to offset and the intention to settle on a net basis. Deferred Tax Assets Tax losses and interest restrictions Share- based payments Deferred revenue Prepaid royalty Tax credits Intangible fixed assets Other temporary differences Total $m $m $m $m $m $m $m $m At May 1, 2017 56.7 43.7 44.5 - 33.8 5.9 23.6 208.2 Acquisition of subsidiaries - HPE Software business 4.5 - (36.5 ) 332.0 39.0 - 43.7 382.7 (Charged)/credited to Consolidated statement of comprehensive income – continuing operations (13.5 ) 0.1 45.2 (201.4 ) (46.1 ) (0.8 ) 14.1 (202.4 ) Credited directly to equity - (23.7 ) - - - - - (23.7 ) Debited to Other comprehensive income - - - - - - 4.3 4.3 Foreign exchange adjustment - (0.3 ) - - - - - (0.3 ) Reclassification to current assets held for sale - - - - - - (1.6 ) (1.6 ) Effect of change in tax rates – credited to Consolidated statement of comprehensive income (21.1 ) (2.4 ) 66.7 (88.7 ) 3.0 (2.1 ) (13.3 ) (57.9 ) Subtotal 26.6 17.4 119.9 41.9 29.7 3.0 70.8 309.3 Jurisdictional offsetting (309.3 ) At October 31, 2018 - Tax losses and interest restrictions Share- based payments Deferred revenue Prepaid royalty Tax credits Intangible fixed assets Other temporary differences Total $m $m $m $m $m $m $m $m At November 1, 2018 26.6 17.4 119.9 41.9 29.7 3.0 70.8 309.3 (Charged)/credited to Consolidated statement of comprehensive income – continuing operations 73.9 (5.1 ) (12.0 ) (41.9 ) (22.9 ) (3.0 ) 12.7 1.7 Credited/(charged) to Consolidated statement of comprehensive income – discontinued operation - - 0.7 - - - (12.3 ) (11.6 ) Credited directly to equity - (7.6 ) - - - - - (7.6 ) Debited to Other comprehensive income - - - - - - 13.0 13.0 Foreign exchange adjustment - 0.3 - - - - - 0.3 Impact of adoption of IFRS 9 - - - - - - 4.4 4.4 Subtotal 100.5 5.0 108.6 - 6.8 - 88.6 309.5 Jurisdictional offsetting (309.5 ) At October 31, 2019 - A deferred tax charge to equity of $7.6m (October 31, 2018: $23.7m) arises during the period in relation to share-based payments. The change is primarily due to the decrease in the Group’s share price during the 12 months ended October 31, 2019. The deferred tax asset relating to other temporary differences of $88.6m as at October 31, 2019 (October 31, 2018: $70.8m) has increased during the current period primarily due to hedging movements and also includes temporary differences arising on fixed assets, short-term temporary differences and defined benefit pension schemes. The deferred tax asset relating to tax losses and interest restrictions has increased by $73.9m during the 12 months ended October 31, 2019 due to the recognition of the deferred tax asset relating to interest restrictions. Deferred tax assets are recognized in respect of tax losses carried forward to the extent that the realization of the related tax benefit through the utilization of future taxable profits is probable. The Group did not recognize deferred tax assets in relation to the following gross temporary differences, the expiration of which is determined by the tax law of each jurisdiction: Expiration: 2020 2021 2022 2023 2024 Thereafter No expiry Total $m $m $m $m $m $m $m $m At October 31, 2019 Type of temporary difference: Losses 56.3 99.2 40.1 33.6 41.8 2,191.6 50.7 2,513.3 Credits 3.5 3.6 2.1 1.3 0.7 1.7 28.9 41.8 Other - - - - - - 23.9 23.9 Total 59.8 102.8 42.2 34.9 42.5 2,193.3 103.5 2,579.0 Expiration: 2019 2020 2021 2022 2023 Thereafter No expiry Total $m $m $m $m $m $m $m $m At October 31, 2018 Type of temporary difference: Losses 35.2 66.1 99.2 37.5 33.6 2,117.7 95.6 2,484.9 Credits 2.2 4.4 4.0 2.4 1.3 5.2 196.4 215.9 Other 1.9 - - - - - 47.7 49.6 Total 39.3 70.5 103.2 39.9 34.9 2,122.9 339.7 2,750.4 Deferred Tax Liabilities Intangible fixed assets Other temporary differences Total $m $m $m At May 1, 2017 (311.7 ) (15.0 ) (326.7 ) Acquisition of subsidiaries – HPE Software business (2,324.1 ) (12.1 ) (2,336.2 ) Acquisition of subsidiaries – COBOL-IT (3.9 ) - (3.9 ) Charged/(credited) to Consolidated statement of comprehensive income – continuing operations 186.8 (12.0 ) 174.8 Charged to Consolidated statement of comprehensive income – discontinued operations 10.5 - 10.5 Foreign exchange adjustment 11.9 - 11.9 Effect of change in tax rates – charged to consolidated statement of comprehensive income 982.0 7.8 989.8 Subtotal (1,448.5 ) (31.3 ) (1,479.8 ) Jurisdictional offsetting 309.3 At October 31, 2018 (1,170.5 ) Intangible fixed assets Other temporary differences Total $m $m $m At November 1, 2018 (1,448.5 ) (31.3 ) (1,479.8 ) Charged to Consolidated statement of comprehensive income – continuing operations 155.5 (0.8 ) 154.7 Charged to Consolidated statement of comprehensive income – discontinued operation 34.0 9.9 43.9 Credited to other comprehensive income – continuing operations 14.0 - 14.0 Impact of adoption of IFRS15 - (17.3 ) (17.3 ) Foreign exchange adjustment (12.1 ) - (12.1 ) Subtotal (1,257.1 ) (39.5 ) (1,296.6 ) Jurisdictional offsetting 309.5 At October 31, 2019 (987.1 ) No deferred tax liability is recognized in respect of temporary differences associated with investments in subsidiaries, branches, associates and interests in joint arrangements because the Group is in a position to control the timing of the reversal of the temporary differences and none are expected to reverse in the foreseeable future. |
Share capital
Share capital | 12 Months Ended |
Oct. 31, 2019 | |
Share capital [Abstract] | |
Share capital | 29 Share capital Ordinary shares at 10 pence each as at October 31, 2019 (October 31, 2018: 10 pence each) October 31, 2019 October 31, 2018 April 30, 2017 Note Shares $m Shares $m Shares $m Issued and fully paid At November 1 /May 1 436,800,513 65.8 229,674,479 39.7 228,706,210 39.6 Shares issued to satisfy option awards 6,109,091 0.1 1,894,673 0.2 968,269 0.1 Shares utilized to satisfy option awards (4,804,817 ) - - - - - Share reorganisation (74,521,459 ) (18.7 ) (16,935,536 ) (2.9 ) - - Shares issued relating to acquisition of the HPE Software business 38 - - 222,166,897 28.8 - - At October 31 363,583,328 47.2 436,800,513 65.8 229,674,479 39.7 “B” shares at 335.859391 pence each (October 31, 2018: 168 pence each) October 31, 2019 October 31, 2018 April 30, 2017 Shares $m Shares $m Shares $m Issued and fully paid At November 1 / May 1 - - - - - - Issue of B shares 413,784,754 1,800.0 229,799,802 500.0 - - Redemption of B shares (413,784,754 ) (1,800.0 ) (229,799,802 ) (500.0 ) - - At October 31 - - - - - - Deferred D Shares at 10 pence each October 31, 2019 October 31, 2018 April 30, 2017 Shares $m Shares $m Shares $m Issued and fully paid At November 1 / May 1 - - - - - - Issue of Deferred shares 74,521,459 - - - - - Redemption of Deferred shares (74,521,459 ) - - - - - At October 31 - - - - - - Share issuances during the 12 months to October 31, 2019 In the 12 months to October 31, 2019, 6,109,091 ordinary shares of 10 At October 31, 2019, 30,200,905 treasury shares were held (October 31, 2018: 9,858,205; April 30, 2017: nil) such that the number of ordinary shares with voting rights was 333,382,423 (October 31, 2018: 426,942,308; April 30, 2017: 229,674,479) and the number of listed shares at October 31, 2019 was 363,583,328 (October 31, 2018: 436,800,513; April 30, 2017: 229,674,479). Potential issues of shares Certain employees hold options to subscribe for shares in the Company at prices ranging from nil pence to 1,963.00 pence under the following share option schemes approved by shareholders in 2005 and 2006: The Long-Term Incentive Plan 2005, the Additional Share Grants, the Sharesave Plan 2006 and the Employee Stock Purchase Plan 2006. The number of shares subject to options at October 31, 2019 was 14,533,973 (October 31, 2018: 18,156,060; April 30, 2017: 8,607,889). Share buy-back On August 29, 2018, the Company announced the start of a share buy-back program for an initial tranche of up to $200m, which was extended on November 5, 2018 to a total value of $400m (including the initial tranche). On February14, 2019, the buy-back program was extended into a third tranche of up to $110m up until the day before the AGM which took place on March 29, 2019 when the current buy-back authority approved by shareholders at the 2017 AGM to make market purchases of up to 65,211,171 ordinary shares expired. On July 17, 2019, the Company announced a new share buy-back program with an initial tranche of up to $200m. The Program was effected in accordance with the terms of the authority granted by shareholders at the 2019 AGM and the Listing Rules. On October 3, 2019, the Company completed the $200m share buy-back program. The total amount bought back under share buy-back programs was $710.0m, excluding expenses. In addition to purchasing ordinary shares on the London Stock Exchange, Citi acquired American Depository Receipts representing ordinary shares (“ADRs”) listed on the New York Stock Exchange which it cancelled for the underlying shares and then sold such shares to the Company. Shares bought back under these programs are held as treasury shares. Treasury share movements and share buy-back costs are shown below: 12 months ended October 31, 2019 18 months ended October 31, 2018 Total Treasury shares Number Number Number Share buy-backs 29,160,054 9,858,205 39,018,259 Shares issued to satisfy option awards (4,804,817 ) - (4,804,817 ) Share reorganisation (4,012,537 ) - (4,012,537 ) 20,342,700 9,858,205 30,200,905 Share buy-back numbers: Ordinary shares bought on the London Stock Exchange 25,766,919 8,567,659 34,334,578 ADRs purchased on the New York Stock Exchange 3,393,135 1,290,546 4,683,681 29,160,054 9,858,205 39,018,259 Share buy-back cost: $m $m $m Share buy-back cost 538.8 171.2 710.0 Expenses 5.9 0.5 6.4 544.7 171.7 716.4 The weighted average price of shares bought back in the 12 months ended October 31, 2019 was £14.61 per share (18 months ended October 31, 2018 was £13.82 per share). Return of Value On April 29, 2019, a Return of Value was made to shareholders amounting to $1,800.0m (£1,389.7m) in cash (335.89 pence per existing Ordinary Share and American Depositary Shares (“ADS”) held at the Record Time of 6.00 pm on April 29, 2019). The Return of Value was approved by shareholders on 29 April 2019. The Return of Value was effected through an issue and redemption of B shares and resulted in a $1,800.0m increase in capital redemption reserve and a $1,800.0m reduction in the merger reserve. 413,784,754 “B” shares were issued at 335.859391 pence each, resulting in a total $1,800.0m being credited to the “B” share liability account. Subsequently and on the same date, 413,784,754 “B” shares were redeemed at 335.859391pence each and an amount of $1,800.0m was debited from the “B share liability account. The Group entered into a forward exchange contract to protect the Company from any foreign exchange movement and the resulting payment to shareholders of $1,800.0m incurred net transaction costs of $1.0m. The Return of Value was accompanied by a 0.8296 share consolidation and the share consolidation resulted in the issue of D deferred shares which were subsequently bought back for 1 pence, resulting in a transfer of $18.7m to the capital redemption reserve. The settlement date was May 13, 2019 for the Ordinary Shares. On August 31, 2017 a Return of Value was made to shareholders amounting to $500.0m. The Return of Value was effected through an issue and redemption of B shares and resulted in a $500.0m increase in the capital redemption reserve, a $343.3m reduction in the merger reserve and a $156.7m reduction in share premium. 229,799,802 “B” shares were issued at 168 pence each, resulting in a total $500.0m being credited to the “B” share liability account. Subsequently and on the same date, 229,799,802 “B” shares were redeemed at 168 pence each and an amount of $500.0m was debited from the “B share liability account. The Return of Value was accompanied by a 0.9263 share consolidation and the share consolidation resulted in the issue of D deferred shares which were subsequently bought back for 1 penny, resulting in a transfer of $2.9m (note 31) to the capital redemption reserve. |
Share premium account
Share premium account | 12 Months Ended |
Oct. 31, 2019 | |
Share premium account [Abstract] | |
Share premium account | 30 Share premium account October 31, 2019 October 31, 2018 April 30, 2017 Note $m $m $m At November 1/ May 1 41.0 192.1 190.3 Issue and redemption of B shares 29 - (156.7 ) - Movement in relation to share options exercised 33 3.0 5.6 1.8 At October 31 44.0 41.0 192.1 |
Other reserves
Other reserves | 12 Months Ended |
Oct. 31, 2019 | |
Other reserves [Abstract] | |
Other reserves | 31 Other reserves Capital redemption reserve Merger reserve Hedging reserve Total Note $m $m $m $m As at May 1, 2016 163.4 988.1 - 1,151.5 Reallocation of merger reserve - (650.0 ) - (650.0 ) As at April 30, 2017 163.4 338.1 - 501.5 Return of Value - share consolidation 29 2.9 - - 2.9 Return of Value - issue and redemption of B shares 29 500.0 (343.3 ) - 156.7 Hedge accounting 1 27 - - 86.4 86.4 Current tax movement on hedging 1 - - (16.4 ) (16.4 ) Acquisition of the HPE Software business 2 38 - 6,485.4 - 6,485.4 Reallocation of merger reserve 3 - (2,755.8 ) - (2,755.8 ) As at October 31, 2018 666.3 3,724.4 70.0 4,460.7 As at November 1, 2018 666.3 3,724.4 70.0 4,460.7 Return of Value - share consolidation 29 18.7 - - 18.7 Return of Value - issue and redemption of B shares 29 1,800.0 (1,800.0 ) - - Hedge accounting 1 27 - - (122.9 ) (122.9 ) Current tax movement on hedging 1 - - 23.3 23.3 Reallocation of merger reserve 3 - (184.6 ) - (184.6 ) As at October 31, 2019 2,485.0 1,739.8 (29.6 ) 4,195.2 1 Hedging reserve A debit of $99.6m was recognized in the hedging reserve in relation to hedging transactions entered into in the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $70.0m credit). 2 Acquisition of HPE Software On September 1, 2017, the acquisition of the HPE Software business was completed (note 38). As a result of this a merger reserve was created of $6,485.4m. The acquisition was structured by way of equity consideration; this transaction fell within the provisions of section 612 of the Companies Act 2006 (merger relief) such that no share premium was recorded in respect of the shares issued. The Parent Company chose to record its investment in the HPE Software business at fair value and therefore recorded a merger reserve equal to the value of the share premium which would have been recorded had section 612 of the Companies Act 2006 not been applicable (i.e. equal to the difference between the fair value of the HPE Software business and the aggregate nominal value of the shares issued). 3 Reallocation of merger reserve In the 12 months ended October 31, 2019, an amount of $184.6m was transferred from the merger reserve to retained earnings. The merger reserve is an unrealized profit until it can be realized by the settlement of the intercompany loan by qualifying consideration. In the 18 months ended October 31, 2018, it was disclosed that $2,755.8m of the merger reserve would be settled in the period. However, as at October 31, 2019, only $2,540.4m of the balance was settled as the balance of $215.4m was not required for any Returns of Value to shareholders. However, the remaining $215.4m and an additional $184.6m is expected to be settled in qualifying consideration during the year ended October 31, 2020 (18 months ended October 31, 2018: $2,540.4m) and as such an equivalent proportion of the merger reserve is considered realized, in accordance with section 3.11(d) of Tech 02/17 and therefore has been transferred to retained earnings. An amount of $650.0m was transferred from the merger reserve to retained earnings in the 12 months ended April 30, 2017. |
Non-controlling interests
Non-controlling interests | 12 Months Ended |
Oct. 31, 2019 | |
Non-controlling interests [Abstract] | |
Non-controlling interests | 32 Non-controlling interests The Group has minority shareholders in one subsidiary, Novell Japan Ltd. On October 25, 2019, a payment of 340,700 JPY ($3,140) was made to acquire 170,350 ordinary 1 JPY shares held. This payment increased the Group’s shareholding from 81.05% to 84.24%. October 31, 2019 October 31, 2018 April 30, 2017 $m $m $m At November 1 / May 1 1.0 0.9 1.0 Share of profit after tax 0.3 0.1 (0.1 ) At October 31 1.3 1.0 0.9 Non-controlling interests relate to the companies detailed below: Company name Country of incorporation and principal place of business October 31, 2019 Proportion held October 31, 2018 Proportion held April 30, 2017 Proportion held Novell Japan Ltd Japan 84.24 % 81.05 % 74.70 % |
Employees and directors
Employees and directors | 12 Months Ended |
Oct. 31, 2019 | |
Employees and directors [Abstract] | |
Employees and directors | 33 Employees and directors Staff costs 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Staff costs Wages and salaries 1,204.4 1,819.2 382.5 Redundancy and termination costs (non-exceptional) 0.5 2.1 2.1 Social security costs 93.6 159.0 53.2 Other pension costs 41.7 50.4 11.4 1,340.2 2,030.7 449.2 Cost of employee share schemes (Share-based payments section) 68.8 64.3 31.5 Total 1,409.0 2,095.0 480.7 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Pension costs comprise: Defined benefit schemes 25 9.0 7.1 0.5 Defined contribution schemes 25 32.7 43.3 10.9 Total 41.7 50.4 11.4 Staff Numbers 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Number Number Number Average monthly number of people (including executive directors) employed by the Group: Continuing Operations Sales and distribution 5,413 5,860 1,818 Research and development 5.056 4,323 1,400 General and administration 1,991 1,378 642 12,460 11,561 3,860 Discontinued Operation Sales and distribution 164 515 323 Research and development 170 629 476 General and administration 3 8 4 337 1,152 803 Total Sales and distribution 5,577 6,375 2,141 Research and development 5,226 4,952 1,876 General and administration 1,994 1,386 646 Total 12,797 12,713 4,663 Directors and Key Management 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Directors Aggregate emoluments 3.7 14.6 5.2 Aggregate gains made on the exercise of share options 79.7 77.7 8.2 Company contributions to money purchase pension scheme - 0.7 0.5 Total 83.4 93.0 13.9 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Key management compensation Short-term employee benefits 9.5 25.9 8.0 Share-based payments 25.3 44.5 9.4 Total 34.8 70.4 17.4 The key management figures above include the executive management team and directors. There are no post-employment benefits. Share-based payments The amount charged to the Consolidated statement of comprehensive income in respect of share-based payments was $71.3m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $72.2m). The Consolidated statement of comprehensive income has been presented split between continuing and discontinued operations. The table below provides information of the share-based payments on a continuing operations basis. The tables below for each type of share option are presented on a combined continuing and discontinued operations basis. 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Continuing operations $m $m $m Share-based compensation – IFRS 2 charge 62.0 70.9 20.8 Employer taxes 6.8 (6.6 ) 10.7 68.8 64.3 31.5 As at October 31, 2019, accumulated employer taxes of $1.9m (October 31, 2018: $20.6m; April 30, 2017: $17.0m) are included in trade and other payables and $nil (October 31, 2018: $0.5m; April 30, 2017: $1.2m) is included in other non-current liabilities. The Group has various equity-settled share-based compensation plans details of which are provided below. a) Incentive Plan 2005 On April 27, 2005, the remuneration committee approved the rules of the Incentive Plan 2005 (“LTIP”) which permits the granting of share options to executive directors and senior management. The total number of options they receive is determined by the performance criteria set by the remuneration committee over a three-year performance period. Prior to April 18, 2011 performance conditions required that cumulative EPS growth over a three-year vesting period is at least equal to Retail Prices Index (“RPI”) plus 11% (at which point 25% of awards will vest), 60% of shares will vest for cumulative EPS growth of RPI plus 13% and for full vesting the cumulative EPS growth will be required to be RPI plus 15% per annum. RPI is the general index of the UK retail prices (for all items) published by the Office of National Statistics or any similar index replacing it. Straight-line vesting will apply between these points. Awards granted are subject to either Absolute Shareholder Returns (“ASR”) over a three-year period, cumulative EPS growth or a combination of both. ASR is defined as the average closing share price over the period of five days ending on the day prior to the vesting date less the reference price plus the total of all dividends and cash distributions and any other measures as determined by the Remuneration Committee between the award date and the vesting date. Where the cumulative EPS growth over a three-year period is at least equal to RPI plus 3% per annum 25% of awards will vest, with full vesting achieved when the cumulative EPS growth is RPI plus 9% per annum. Straight-line vesting will apply between these points. Where the award is subject to ASR, the resulting level of vesting will be reduced by 25% if the ASR is below 150 pence or increased by 50% if ASR is 300 pence or more. 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of Options Weighted average exercise price Number of Options Weighted average exercise price ‘000 pence ‘000 pence Outstanding at November 1 / May 1 5,620 14 4,662 29 Exercised (3,410 ) 17 (1,283 ) 12 Forfeited (545 ) 27 (582 ) 3 Granted 7,562 - 2,823 - Outstanding at October 31 9,227 6 5,620 14 Exercisable at October 31 1,416 34 2,270 51 The weighted average share price in the period for options on the date of exercise was 1,707 pence for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: 1,781 pence). The amount charged to the Consolidated statement of comprehensive income in respect of the scheme was $31.1m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $30.3m). In addition to this $8.5m (18 months ended October 31, 2018: $4.1m charge) was charged to the Consolidated statement of comprehensive income in respect of National Insurance on these share options. October 31, 2019 October 31, 2018 Range of exercise prices Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) £0.10 or less 1 8,982 3.4 1 5,127 6.7 £0.11 – £1.00 13 137 3.7 13 205 4.9 £1.01 – £2.00 - - - - - - £2.01 – £3.00 - - - - - - £3.01 - £4.00 - - - 358 146 0.7 More than £4.00 402 108 0.7 402 142 1.7 6 9,227 3.4 14 5,620 4.0 The weighted average fair value of options granted during the 12 months ended October 31, 2019 determined using the Black-Scholes valuation model was £14.54 (18 months ended October 31, 2018: £15.25). The significant inputs into the model for the 12 months ended October 31, 2019 were: 12 months ended October 31, 2019 18 months ended October 31, 2018 Weighted average share price at the grant date £16.44 £16.87 Expected volatility between 48.91% and 49.68% between 28.59% and 48.54% Expected dividend yield between 4.78% and 5.87% between 2.82% and 7.02% Expected option life 0.76 to four years three years Annual risk-free interest rate between 0.49% and 1.38% between 1.0% and 1.6% The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years. b) Additional Share grants 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of Options Number of Options TAG ASGs HPE Software ASGs Total Weighted average exercise price TAG ASGs HPE Software ASGs Total Weighted average exercise price ‘000 ‘000 ‘000 pence ‘000 ‘000 ‘000 pence Outstanding at November 1 / May 1 3,062 7,427 10,489 - 3,262 - 3,262 - Granted - 458 458 - - 13,115 13,115 - Exercised (2,601 ) - (2,601 ) - (200 ) - (200 ) - Lapsed - (4,670 ) (4,670 ) - - (2,412 ) (2,412 ) - Cancelled - - - - - (3,276 ) (3,276 ) - Outstanding at October 31 461 3,215 3,676 - 3,062 7,427 10,489 - Exercisable at October 31 461 - 461 - 3,062 - 3,062 - Additional Share Grants – The Attachmate Group (“TAG”) acquisition The Remuneration Committee awarded Additional Share Grants (“ASGs”) to a number of senior managers and executives, critical to delivering the anticipated results of the acquisition of The Attachmate Group, which completed on November 20, 2014. The ASGs were nil cost options over ordinary shares. The ASGs became exercisable, subject to the satisfaction of the performance condition, on the third anniversary of the date of Completion or November 1, 2017, whichever is earlier (the “vesting date”) and remained exercisable until the tenth anniversary of Completion. The performance condition applicable was that the percentage of ordinary shares subject to the ASG which may be acquired on exercise on or after the vesting date was as follows: (i) 0% if the Shareholder Return Percentage (as defined below) is 50% or less; (ii) 100% if the Shareholder Return Percentage is 100% or more; and (iii) A percentage determined on a straight-line basis between (i) and (ii) above. The “Shareholder Return Percentage” was calculated by deducting 819.425 pence per share (the “Reference Price”), being the average of the 20 days before June 3 2014, from the sum of the “Vesting Price” (calculated as the average closing share price over the period of 20 days ending on the day prior to the vesting date) plus the total of all dividends per share between Completion and the vesting date. This was divided by the Reference Price, multiplying the resulting figure by 100 to obtain the Shareholder Return Percentage. These TAG ASG options vested in full. As at October 31, 2019, 460,917 of these options were vested but not yet exercised. Additional Share Grants – The HPE Software business acquisition The Remuneration Committee awarded a number of Additional Share Grants (“ASGs”) to a number of senior managers and executives, critical to delivering the anticipated results of the acquisition of the HPE Software business, which completed on September 1, 2017. The ASGs were nil cost options over ordinary shares. The ASGs became exercisable, subject to the satisfaction of the performance condition, on the third anniversary of the announcement date of September 7, 2016 (the “vesting date”) and remained exercisable for a period of 84 months commencing on the vesting date. The performance condition applicable was that the percentage of ordinary shares subject to the ASG, which may be acquired on exercise on or after the vesting date was as follows: (i) 0% if the Shareholder Return Percentage (as defined below) is 50% or less; (ii) 100% if the Shareholder Return Percentage is 100% or more; and (iii) A percentage determined on a straight-line basis between (i) and (ii) above. The “Shareholder Return Percentage” will be calculated by deducting 1,817.75 pence per share (the “Reference Price”), being the average of the 20 days before August 1, 2016, from the sum of the “Vesting Price” (calculated as the average closing share price over the period of 20 days ending on the day prior to the vesting date) plus the total of all dividends per share between the announcement date and the vesting date. This was divided by the Reference Price, multiplying the resulting figure by 100 to obtain the Shareholder Return Percentage. Amendments made on September 20, 2018 On September 20, 2018, the Group announced that, following a review of existing Additional Share Grant (“ASG”) awards, ASG awards made to Executive Directors on completion of the HPE Software business acquisition on September 1, 2017 were to be cancelled. New ASG awards were granted in order to align with the business plan to deliver value by October 2020 and focus Executive Directors on delivering significant value to shareholders over the three years from completion of the transaction. The Company believed that, in the light of the HPE Software business integration and the wider competitive environment evidenced by recent M&A activity in the software sector, the alignment of the vesting period to September 1, 2020 was essential to provide an effective incentive over the period of the business plan. The Executive Directors (Kevin Loosemore , Number of granted and cancelled nil cost share options over Ordinary Shares Number of replacement nil cost options over Ordinary Shares Director ‘000 ‘000 Kevin Loosemore 1,100 1,100 Stephen Murdoch 500 947 Chris Kennedy 1 500 676 Mike Phillips 1 676 676 Nils Brauckmann 1 500 500 3,276 3,899 1 These ASG options awarded to Chris Kennedy (all), Nils Brauckmann (all) and Mike Phillips (partial) lapsed as a result of their resignations and subsequent leaving employment. The Total Shareholder Returns (“TSR”) performance thresholds for the new awards were unchanged from the previous awards, save in respect of the period to vesting. The number of new awards was equal to the number of previous awards which they replace, except for Stephen Murdoch and Chris Kennedy where increases of 447,000 and 176,000 awards respectively were made to reflect Stephen’s promotion to Chief Executive Officer and to align Chris’ awards to those granted to his predecessor. As new ASGs were granted to replace the original ASGs that were cancelled, this was treated under IFRS 2 “Share-based payment” as modification of the original ASG grant. Due to the performance conditions attached to them, the fair value for ASGs was determined using the Monte Carlo simulation method. The fair value of the original awards was determined at the modification date (September 20, 2018) i.e. replacing the original fair values. The incremental fair value of the new awards over the original awards at the date of modification was recognized in addition to the grant date fair value. The original expense continued to be recognized over the original service period, the incremental expense was recognized over the remaining service period for the new awards i.e. to September 1, 2020 rather than September 7, 2019. Lapses in the 12 months ended October 31, 2019 In the 12 months ended October 31, 2019, 4,669,454 ASGs relating to the HPE Software business acquisition lapsed as a result of either leavers (1,234,454) or performance conditions not met (3,435,000). Additional Share Grants made in the 12 months ended October 31, 2019 In the 12 months ended October 31, 2019, 458,000 ASG options were granted including 338,000 ASG options to Brian McArthur- Muscroft, the Chief Financial Officer. These ASG grants each had a vesting date of September 1, 2020 with the same performance threshold as the amended grants issued on September 20, 2018. The weighted average fair value of options granted during the period determined using the Monte-Carlo simulation model was £0.54 (18 months ended October 31, 2018: £4.80). The significant inputs into the model for the 12 months ended October 31, 2019 were: 12 months ended October 31, 2019 18 months ended October 31, 2018 Weighted average share price at the grant date £22.81 £18.35 Expected volatility 28.00 % Between 28.00% - 31.00% Expected dividend yield 2.85 % Between 3.26% - 5.29% Expected option life 1.75 years – 1.78 years 1.96 years Annual risk-free interest rate 0.43 % Between 0.43% - 0.84% The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years. The amount charged to the Consolidated statement of comprehensive income in respect of the ASGs was $30.6m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $45.6m. In addition to this $1.7m (18 months ended October 31, 2018: $2.5m charge) was credited to the Consolidated statement of comprehensive income in respect of National Insurance on these share options in the 12 months ended October 31, 2019. October 31, 2019 October 31, 2018 Range of exercise prices Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) £0.00 - 3,676 7.3 - 10,489 5.5 - 3,676 7.3 - 10,489 5.5 c) Sharesave and Employee Stock Purchase Plan 2006 In August 2006, the Company introduced the Micro Focus Employee Stock Purchase Plan 2006 and the Micro Focus Sharesave Plan 2006, approved by members on July 25, 2006. The Group operates several plans throughout the world, but the two main plans are the Sharesave Plan (“Sharesave”) primarily for UK employees and the Employee Stock Purchase Plan (“ESPP”) for employees in the USA and Canada. The Sharesave and ESPP provide for an annual award of options at a discount to the market price and are open to all eligible Group employees. Under these plans employees make monthly savings over a period (Sharesave three years, ESPP two years) linked to the grant of an option with an option price which can be at a discount (Sharesave 20%, ESPP 15%) of the market value of the shares on grant. The option grants are subject to employment conditions and continuous savings. Further Sharesave and ESPP grants were made during the 12 months to October 31, 2019. Sharesave 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of options ‘000 Weighted average exercise price pence Number of options ‘000 Weighted average exercise price pence Outstanding at November 1 / May 1 496 1,185 559 1,039 Exercised (81 ) 1,171 (294 ) 829 Forfeited (102 ) 1,297 (223 ) 1,508 Granted 125 1,374 454 1,293 Outstanding at October 31 438 1,221 496 1,185 Exercisable at October 31 62 1,461 47 1,116 Number of options Exercise price per share ‘000 Date of grant pence Exercise period 61 August 12, 2016 1,465.6 October 1, 2019 – February 1, 2020 21 February 23, 2018 1,720.0 April 1, 2021 – September 30, 2021 2 February 23, 2018 1,963.0 April 1, 2021 – September 30, 2021 221 August 3, 2018 1,023.0 October 1, 2021 – March 31, 2022 19 August 3, 2018 1,159.0 October 1, 2021 – March 31, 2022 67 March 7, 2019 1,344.0 April 1, 2022 – September 30, 2022 4 March 7, 2019 1,533.0 April 1, 2022 – September 30, 2022 40 August 5, 2019 1,411.0 October 1, 2021 – August 4, 2022 3 August 5, 2019 1,574.3 October 1, 2021 – August 4, 2022 438 ESPP 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of options Weighted average exercise price Number of options Weighted average exercise price ‘000 pence ‘000 pence Outstanding at November 1 / May 1 800 1,047 124 1,510 Exercised (17 ) 1,114 (110 ) 1,598 Forfeited (44 ) 1,440 (31 ) 1,236 Granted 453 1,444 817 1,057 Outstanding at October 31 1,192 1,182 800 1,047 Exercisable at October 31 - - - - Number of Options Exercise price per share ‘000 Date of grant pence Exercise period 309 March 1, 2018 1,235.6 March 1, 2020 – May 31, 2020 430 July 1, 2018 868.5 July 1, 2020 – September 30, 2020 244 March 1, 2019 1,428.0 March 1, 2021 – May 31, 2021 209 October 1, 2019 1,462.8 October 1, 2021 – December 31, 2021 1,192 The amount charged to the Consolidated statement of comprehensive income in respect of the Sharesave and ESPP schemes was $2.8m for the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $2.9m). The weighted average fair value of options granted in the Sharesave and ESPP schemes during the 12 months ended October 31, 2019 determined using the Black-Scholes valuation model was £5.93 (18 months ended October 31, 2018: £6.28). The significant inputs into the model for the 12 months ended October 31, 2019 were: 12 months ended October 31, 2019 18 months ended October 31, 2018 Weighted average share price at the grant date £17.56 £15.48 Expected volatility between 49.06% and 49.68% between 28.82% - 48.60% Expected dividend yield between 4.63% and 5.87% between 3.86% - 7.02% Expected option life Two or three years two or three years Annual risk-free interest rate between 0.49% and 1.16% between 1.3% - 1.5% The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years. |
Operating lease commitments - m
Operating lease commitments - minimum lease payments | 12 Months Ended |
Oct. 31, 2019 | |
Operating lease commitments - minimum lease payments [Abstract] | |
Operating lease commitments - minimum lease payments | 34 Operating lease commitments – minimum lease payments At October 31, 2019 the Group has a number of lease agreements in respect of properties, vehicles, plant and equipment, for which the payments extend over a number of years. October 31, 2019 October 31, 2018 $m $m Future minimum lease payments under non-cancellable operating leases falling due: No later than one year 78.6 65.8 Later than one year and no later than three years 123.6 86.4 Later than three years and no later than five years 61.4 53.3 Later than five years 37.6 22.5 Total 301.2 228.0 The Group leases various offices under non-cancellable operating lease agreements that are included in the table. The leases have various terms, escalation clauses and renewal rights. The properties owned or leased and operated by the Group’s subsidiaries are maintained in good condition and are believed to be suitable and adequate for the Group’s present needs. The Group’s headquarters are located at premises in Newbury, England. The Group owns or leases properties amounting to over 2.4 million square feet of space, in over 40 countries worldwide. Two individual leased properties are material to the Group. One is located in Provo, Utah, where the Group currently leases approximately 405,700 square feet of office space. The lease on this facility expires in 2024, with an option to extend for a further three, five-year periods. The Group’s current annual rent under this lease is $8.2m. Since March 1, 2019, part of the property has been sublet. Current annual sub-lease income is $1.0m. The other property is located in Santa Clara, California, where the Group currently lease approximately 635,000 square feet of office space. The lease on this facility expires in 2029, with an option to extend for one further five-year period. The Group’s current annual rent under this lease is $4.6m. The minimum lease payments payable under operating leases recognized as an expense in the 12 months ended October 31, 2019 were $65.9m (18 months ended October 31, 2018: $94.1m). The total of future minimum sublease payments expected to be received under non-cancellable subleases as at October 31, 2019 is $3.9m (October 31, 2018: $4.7m) |
Contingent liabilities
Contingent liabilities | 12 Months Ended |
Oct. 31, 2019 | |
Contingent liabilities [Abstract] | |
Contingent liabilities | 35 Contingent liabilities The Company and several of its subsidiaries are, from time to time, parties to legal proceedings and claims, which arise in the ordinary course of business. The directors do not anticipate that the outcome of these proceedings, actions and claims, either individually or in aggregate, will have a material adverse effect upon the Group’s financial position. Shareholder litigation Micro Focus International plc and certain current and former directors and officers are involved in two class action lawsuits in which plaintiffs are seeking damages for alleged violations of the Securities Act of 1933 and the Exchange Act of 1934. Plaintiffs allege false and misleading statements or omissions in offering documents issued in connection with the Hewlett Packard Enterprise software business merger and issuance of Micro Focus American Depository Shares (“ADS”) as merger consideration, and other purportedly false and misleading statements. No liability has been recognized in either case as these are still very early in proceedings and it is too early to estimate whether there will be any financial impact. Patent litigation Several indirect subsidiaries of Micro Focus International plc are involved in a patent infringement lawsuit in which plaintiffs allege that certain Micro Focus ADM software products infringe three patents in the field of mobile application development and testing. Plaintiffs are seeking monetary damages in an amount that has yet to be specified. No liability has been recognized in these cases as they are still at an early stage in proceedings, and it is too soon to estimate whether there will be any financial impact. |
Related party transactions
Related party transactions | 12 Months Ended |
Oct. 31, 2019 | |
Related party transactions [Abstract] | |
Related party transactions | 36 Related party transactions The Group’s related parties are its subsidiary undertakings, key management personnel and post-employment benefit plans. Subsidiaries Transactions between the Company and its subsidiaries have been eliminated on consolidation. Remuneration of key management personnel The remuneration of key management personnel of the Group (which is defined as the executive management team and directors) is set out in note 33. There are no loans between the Group and the key management personnel. Transactions with other related parties. The following transactions occurred with other related parties: Contributions made to pension plans by the Group on behalf of employees are set out in note 25. Sales and purchases of goods and services between related parties are not considered material. |
Discontinued operation, assets
Discontinued operation, assets classified as held for sale and disposals | 12 Months Ended |
Oct. 31, 2019 | |
Discontinued operation, assets classified as held for sale and disposals [Abstract] | |
Discontinued operation, assets classified as held for sale and disposals | 37 Discontinued operation, assets classified as held for sale and disposals Net Assets classified as held for sale There are no disposal groups classified as held for sale in the current period. At October 31, 2018, the assets and liabilities relating to the SUSE and Atalla businesses were presented as held for sale. October 31, 2019 October 31, 2018 Current Assets Current liabilities Total Current assets Current liabilities Total Reported in: $m $m $m $m $m $m SUSE - - - 1,114.5 (427.4 ) 687.1 Atalla - - - 28.0 (10.3 ) 17.7 - - - 1,142.5 (437.7 ) 704.8 The net asset assets held for sale relating to the disposals of SUSE and Atalla are detailed in the tables below. These include non-current assets and non-current liabilities that are shown as current assets and liabilities in the Consolidated statement of financial position. A. SUSE Business On July 2, 2018, the Group announced the proposed sale of the SUSE business segment to Blitz 18-679 GmbH (subsequently renamed to Marcel Bidco GmbH), a newly incorporated directly wholly owned subsidiary of EQTVIII SCSp, which is advised by EQT Partners. The total cash consideration of $2.5bn was on a cash and debt free basis and subject to normalization of working capital. On August 21, 2018, Shareholders voted to approve the proposed transaction whereby the Company agreed to sell its SUSE business segment to Marcel Bidco GmbH, for a total cash consideration of approximately $2.5bn, subject to customary closing adjustments. Following this vote, all applicable antitrust, competition, merger control and governmental clearances were obtained. The sale was completed on March 15, 2019 and the SUSE business segment has been treated as discontinued in these financial statements. Discontinued operation – Financial performance 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Before Exceptional Items Exceptional Items Total Total Total $m $m $m $m $m Revenue 127.0 - 127.0 538.2 303.4 Operating costs (89.3 ) - (89.3 ) (425.3 ) (238.6 ) Operating profit 37.7 - 37.7 112.9 64.8 Share of results of associate (0.3 ) - (0.3 ) (1.8 ) - Profit on disposal of the SUSE business - 1,767.9 1,767.9 - - Profit before taxation 37.4 1,767.9 1,805.3 111.1 64.8 Taxation (8.7 ) (309.4 ) (318.1 ) (34.2 ) (31.1 ) Profit for the period from discontinued operation 28.7 1,458.5 1,487.2 76.9 33.7 Discontinued operation – Cash flow The cash flow statement shows amounts related to the discontinued operations: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Net cash inflows from operating activities 18.6 136.1 70.4 Net cash outflows from investing activities - (2.5 ) (7.4 ) Net cash flows from financing activities - - - The assets and liabilities relating to SUSE were presented as held for sale following the shareholder approval on August 21, 2018. Costs to sell have been included in trade and other payables. October 31, 2019 October 31, 2018 Note $m $m Non-current assets Goodwill 10 - 859.6 Other Intangible assets 11 - 165.6 Property, plant and equipment 12 - 5.7 Investment in associates - 9.6 Deferred tax assets - 1.6 Long-term pension assets 25 - 1.5 Other non-current assets - 2.2 - 1,045.8 Current assets Trade and other receivables - 65.8 Cash and cash equivalents - 2.9 - 68.7 Total assets held for sale - 1,114.5 Current liabilities Trade and other payables - (38.0 ) Provisions 24 - (0.7 ) Current tax liabilities - (1.2 ) Deferred income - (218.3 ) - (258.2 ) Non-current liabilities Deferred income - (160.8 ) Retirement benefit obligations 25 - (5.5 ) Long-term provisions 24 - (2.3 ) Other non-current liabilities - (0.6 ) - (169.2 ) Total liabilities held for sale - (427.4 ) Net assets classified as held for sale - 687.1 Disposal of the SUSE business On March 15, 2019, the Group disposed of the SUSE business for $2,540.3m. Details of net assets disposed of and the profit on disposal are as follows: Carrying value pre-disposal $m Non-current assets classified as held for sale 989.8 Current assets classified as held for sale 127.3 Current liabilities classified as held for sale (288.5 ) Non-current liabilities classified as held for sale (177.3 ) Net assets disposed 651.3 The profit on disposal is calculated as follows: $m Disposal proceeds 2,540.3 Costs to sell recognized in the period (45.3 ) Disposal proceeds, less costs to sell recognized in the period 2,495.0 Net assets disposed (651.3 ) Profit on disposal 1,843.7 Cumulative exchange gain in respect of the net assets of the subsidiaries, reclassified from equity on disposal (75.8 ) Profit on disposal 1,767.9 The profit on disposal is reflected in the profit for the period from discontinued operations in the Consolidated statement of comprehensive income. All cash flows occurred in the current period. The inflow of cash and cash equivalents on the disposal of the SUSE business is calculated as follows: $m Disposal proceeds, less total costs to sell 2,495.0 Cash disposed (21.5 ) Investing cash flows generated from discontinued operations, net of cash disposed 2,473.5 B. Atalla On May 18, 2018 the Company entered into an agreement with Utimaco Inc. (“Utimaco”), under which Utimaco would acquire Atalla for $20m in cash. The deal was subject to regulatory approval by the Committee on Foreign Investment in the United States (“CFUIS”). CFIUS placed the deal into investigation in September and final approval was received October 10, 2018. The deal closed on November 5, 2018 and Utimaco acquired the Atalla HSM product line, the Enterprise Security Manger (“ESKM”) product line, and related supporting assets, including applicable patents and other IP. The assets and liabilities relating to the Atalla business included in the Financial Statements at October 31, 2018 amount to $17.7m. October 31, 2019 October 31, 2018 Note $m $m Goodwill 10 - 27.9 Property, plant and equipment 12 - 0.1 Non-current assets - 28.0 Deferred income - (10.3 ) Current liabilities - (10.3 ) Net assets classified as held for sale - 17.7 On November 5, 2018, the Group disposed of the Atalla business for a net cash consideration of $20.0m. Details of net assets disposed of and the profit on disposal are as follows: Carrying value pre-disposal $m Goodwill 28.0 Property, plant and equipment 0.3 Non-current assets 28.3 Deferred income (12.0 ) Current liabilities (12.0 ) Net assets disposed 16.3 The profit on disposal which has been recorded as exceptional (note 4) is calculated as follows: $m Disposal proceeds 20.0 Net assets disposed (16.3 ) Profit on disposal 3.7 |
Acquisitions
Acquisitions | 12 Months Ended |
Oct. 31, 2019 | |
Acquisitions [Abstract] | |
Acquisitions | 38 Acquisitions Summary of acquisitions Consideration Carrying value at acquisition Fair value adjustments Goodwill Shares Cash Total $m $m $m $m $m $m Acquisitions in the 12 months ended October 31, 2019: Interset Software Inc. 0.9 61.3 26.8 - 89.0 89.0 0.9 61.3 26.8 - 89.0 89.0 Acquisitions in the 18 months ended October 31, 2018: HPE Software business (2,487.8 ) 4,143.7 4,858.3 6,514.2 - 6,514.2 COBOL-IT (3.0 ) 14.0 5.6 - 16.7 16.7 (2,490.8 ) 4,157.7 4,863.9 6,514.2 16.7 6,530.9 (2,489.8 ) 4,219.0 4,890.7 6,514.2 105.7 6,619.9 Acquisitions in the 12 months ended October 31, 2019: 1 Acquisition of Interset Software Inc. On February 15, 2019, the Group completed the acquisition of Interset Software Inc. (“Interset”), a worldwide leader in security analytics software that provides highly intelligent and accurate cyber-threat protection. The addition of this predictive analytics technology adds depth to Micro Focus’ Security, Risk & Governance portfolio, and aligns with the Company’s strategy to help customers quickly and accurately validate and assess risk as they digitally transform their businesses. Consideration of $89.0m consists of a completion payment of $85.0m, working capital adjustments and net cash adjustments. The Group has not presented the full IFRS 3 “Business Combinations” disclosures as this acquisition is not material to the Group, given that it was an acquisition of a business with a carrying value of $5.5m of assets and $4.6m of liabilities. A provisional fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Adjustments to the provisional fair values have been recorded in the period which has reduced the amount of Goodwill recognized by $7.4m. At the time these consolidated financial statements were authorised for issue, the Group had not yet fully completed its assessment of the Interset Software Inc. acquisition. The fair value review will be finalised in the 12-month period following completion. Carrying value at acquisition Fair value adjustments Fair value Note $m $m $m Intangible assets – purchased 1 11 - 61.2 61.2 Property, plant and equipment 12 0.3 - 0.3 Other non-current assets 0.2 - 0.2 Trade and other receivables 3.8 - 3.8 Cash and cash equivalent 1.2 - 1.2 Trade and other payables (1.5 ) - (1.5 ) Finance leases obligations – short-term (0.1 ) - (0.1 ) Provisions – short-term 24 (0.7 ) - (0.7 ) Deferred income – short-term 2 (2.1 ) 0.1 (2.0 ) Deferred income – long-term 2 (0.2 ) - (0.2 ) Net assets 0.9 61.3 62.2 Goodwill (note 10) 26.8 Consideration 89.0 Consideration satisfied by: Cash 89.0 The fair value adjustments relate to: 1 Purchased intangible assets of $61.2m ($44.5m Technology, $4.2m Trade names, $12.5m Customer Relationships) have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Interset. 2 Deferred income has been valued taking account of the remaining performance obligations . The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. Acquisitions in the year ended October 31, 2018: 1 Acquisition of the HPE Software business On September 1, 2017, the Company completed the acquisition of HPE’s software business (“HPE Software”) by way of merger with a wholly owned subsidiary of HPE incorporated to hold the business of HPE Software in accordance with the terms of the previously announced merger agreement (“Completion”). Accordingly, on Admission, American Depositary Shares representing 222,166,897 Consideration Shares were issued to HPE Shareholders, representing 50.1% of the fully diluted share capital of the Company. The fair value of the ordinary shares issued was based on the listed share price of the Company as of August 31, 2017 of $6.5 billion. The costs of acquiring the HPE Software business of $70.1m are included in exceptional items (note 4) and include costs relating to due diligence work, legal work on the acquisition agreement and professional advisors on the transaction. There was judgment used in identifying who the accounting acquirer was in the acquisition of the HPE Software business, as the resulting shareholdings were not definitive to identify the entity, which obtains control in the transaction. The Group considered the other factors laid down in IFRS, such as the composition of the governing body of the combined entity, composition of senior management of the combined entity, the entity that issued equity interest, terms of exchange of equity interests, the entity which initiated the combination, relative size of each entity, the existence of a large minority voting interest in the combined entity and other factors (e.g. location of headquarters of the combined entity and entity name). The conclusion of this assessment is that the Company is the accounting acquirer of the HPE Software business, and the acquisition accounting, as set out below, has been performed on this basis. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value Note $m $m $m Intangible assets 11 72.8 6,467.0 6,539.8 Property, plant and equipment 12 160.1 - 160.1 Other non-current assets 41.9 - 41.9 Inventories 0.2 - 0.2 Trade and other receivables 721.2 - 721.2 Current tax recoverable 0.5 - 0.5 Cash and cash equivalents 320.7 - 320.7 Trade and other payables (686.8 ) 1.6 (685.2 ) Current tax liabilities (9.9 ) - (9.9 ) Borrowings (2,547.6 ) - (2,547.6 ) Short-term provisions 24 (30.2 ) - (30.2 ) Short-term deferred income 2 (701.2 ) 58.0 (643.2 ) Long-term deferred income 2 (116.9 ) 8.7 (108.2 ) Long-term provisions 24 (39.0 ) - (39.0 ) Retirement benefit obligations 25 (71.5 ) - (71.5 ) Other non-current liabilities (52.3 ) 12.1 (40.2 ) Deferred tax assets/(liabilities) 3 450.2 (2,403.7 ) (1,953.5 ) Net (liabilities)/assets (2,487.8 ) 4,143.7 1,655.9 Goodwill 10 - 4,858.3 Consideration 6,514.2 Consideration satisfied by: Shares 6,514.2 The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $4,858.3m has been capitalized. The Group made a repayment of working capital in respect of the HPE Software business acquisition of $225.8m in the period. Trade and other receivables are net of a provision for impairment of trade receivables of $21.5m. A fair value review has been carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. The fair value adjustments include: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of the HPE Software business; 2 Deferred income has been valued taking account of the remaining performance obligations; and 3 A deferred tax liability has been established relating to the purchase of intangibles. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 11): Fair value $m Technology 1,809.0 Customer relationships 4,480.0 Trade names 163.0 Leases 15.0 6,467.0 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. As a consequence of the HPE Software business transaction, the Group is subject to potentially significant restrictions relating to tax issues that could limit the Group’s ability to undertake certain corporate actions (such as the issuance of Micro Focus shares or Micro Focus ADSs or the undertaking of a merger or consolidation) that otherwise could be advantageous to the Group. The Group is obliged to indemnify HPE for tax liabilities relating to the separation of the HPE Software business from HPE if such liabilities are triggered by actions taken by the Group. The Group has robust procedures in place, including on-going consultation with its tax advisors, to ensure no such triggering actions are taken. 2 Acquisition of COBOL-IT, SAS On December 1, 2017, the Group completed on the acquisition of COBOL-IT SAS (“COBOL-IT”). COBOL-IT is in the business of designing, editing and commercialization of software, IT devices and related services. Consideration of $16.7m consists of a completion payment of Euro 11.3m, retention amounts of Euro 2.7m payable at a later date, working capital adjustments and net cash adjustments. The Group did not present the full IFRS 3 “Business Combinations” disclosures as this acquisition was not material to the Group. A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. The fair value review was finalised in the 12 month period following completion, which ended on November 30, 2018. Goodwill of $5.6m (note 10), deferred tax liabilities of $3.9m, purchased intangibles of $14.0m (note 11) (Purchased Technology $1.5m, Customer relationships $12.3m and Trade names $0.2m) and cash of $1.0m were recorded as a result of the COBOL-IT acquisition and no adjustments were identified. 3 Acquisition of Covertix On May 15, 2018, the Group entered into an Asset Purchase Agreement (“the agreement”) to acquire certain assets of Covertix, an Israeli company that had entered voluntary liquidation in April 2018. Covertix used their patented solutions to develop and sell security products that offered control and protection of confidential files when shared with both internal and external parties. Prior to entering liquidation Covertix had offices in Israel and the US, with partners in the Netherlands and Singapore. Under the agreement, the Group paid $2.5m in cash to acquire certain equipment, patents, and licence rights under certain agreements, and seven employees all involved in R&D activities. The purchase completed on July 26, 2018. Under IFRS 3, the Covertix Ltd. acquisition was considered to be a business combination, however due to the immaterial amount of the transaction, the assets acquired have been recorded at cost and are being amortized over their useful lives within the ledgers of the acquiring entities. The Company did not create a new subsidiary for Covertix and no goodwill has been recorded. Acquisitions in the year ended April 30, 2017: 1 Acquisition of Serena Software Inc. On May 2, 2016, the Group acquired the entire share capital of Spartacus Acquisition Holdings Corp. the holding company of Serena Software Inc. (“Serena”) and its subsidiaries for $277.6m, payable in cash at completion. The Group then repaid the outstanding Serena bank borrowings of $316.7m as at May 2, 2016, making the total cash outflow for the Group of $528.5m, net of cash acquired of $65.8m. The transaction costs for the Serena acquisition were $0.9m ($0.5m was incurred in the 12 months ended April 30, 2016). The acquisition is highly consistent with the Group’s established acquisition strategy and focus on the efficient management of mature infrastructure software products. Serena is a leading provider of enterprise software focused on providing Application Lifecycle Management products for both mainframe and distributed systems. Whilst Serena is headquartered in San Mateo, California the operations are effectively managed from offices in Hillsboro, Oregon and St. Albans in the United Kingdom. It operates in a further 10 countries. The Serena Group’s customers are typically highly regulated large enterprises, across a variety of sectors including banking, insurance, telco, manufacturing and retail, healthcare and government. Serena was integrated into the Micro Focus Product Portfolio and the revenues reported in the Development and IT Operations Management Tools sub-portfolio. The transaction was funded through the Group’s existing cash resources together with additional debt and equity finance arranged through Barclays, HSBC, the Royal Bank of Scotland and Numis Securities. On May 2, 2016, the Group’s existing revolving credit facility was extended from $225m to $375m and the Group raised approximately £158.2m (approximately $225.7m) through a Placing underwritten by Numis Securities incurring $3.0m of costs associated with the Placing in March 2016. A fair value review was carried out and finalized on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows: Fair value $m Technology 86.1 Customer relationships 210.2 Trade names 21.4 317.7 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $379.7m has been capitalized. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $m $m $m Goodwill 462.4 (462.4 ) - Intangible assets - purchased - 317.7 317.7 Intangible assets 1 0.1 - 0.1 Property, plant and equipment 1.9 - 1.9 Other non-current assets 0.2 - 0.2 Deferred tax asset 15.3 - 15.3 Trade and other receivables 27.4 - 27.4 Cash and cash equivalents 65.8 - 65.8 Trade and other payables (27.7 ) - (27.7 ) Current tax liabilities (11.8 ) - (11.8 ) Borrowings – short term (4.0 ) - (4.0 ) Short-term provisions (3.2 ) - (3.2 ) Short-term deferred income 2 (72.3 ) 3.8 (68.5 ) Long-term deferred income 2 (14.9 ) 0.8 (14.1 ) Borrowings – long term (288.9 ) - (288.9 ) Other non-current liabilities (0.7 ) - (0.7 ) Deferred tax liabilities 3 (2.4 ) (109.2 ) (111.6 ) Net assets/(liabilities) 147.2 (249.3 ) (102.1 ) Goodwill - - 379.7 Consideration - - 277.6 Consideration satisfied by: 277.6 Cash 277.6 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Serena; 2 Deferred income has been valued taking account of the remaining performance obligations; and 3 A deferred tax liability has been established relating to the purchase of intangibles. 2 Acquisition of GWAVA Inc. On September 30, 2016, the Group acquired the entire share capital of GWAVA Inc. (“GWAVA”) and its subsidiaries for $16.4m, payable in cash at completion. The transaction costs for the GWAVA acquisition were $1.5m. The acquisition is highly consistent with the Group’s established acquisition strategy and focus on the efficient management of mature infrastructure software products. GWAVA is a leading company in email security and enterprise information archiving (“EIA”). GWAVA has approximately 90 employees, based in the US, Canada and Germany. More than a million users across 60 countries rely on its products in over 3,000 customer organizations, supported by GWAVA’s global team, with a further 1,000 GWAVA business partners collaborating closely to ensure successful customer solutions. In addition to GWAVA’s award winning EIA product Retain, GWAVA has a full suite of products to protect, optimize, secure and ensure compliance for customers running Micro Focus GroupWise. A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $m $m $m Intangible assets – purchased 1 - 5.3 5.3 Intangible assets 2 1.2 (1.2 ) - Property, plant and equipment 0.2 - 0.2 Trade and other receivables 3.0 - 3.0 Cash and cash equivalents 2.4 - 2.4 Trade and other payables (1.4 ) - (1.4 ) Short-term deferred income 3 (4.0 ) 0.3 (3.7 ) Long-term deferred income 3 (0.8 ) - (0.8 ) Deferred tax liabilities 4 - (1.4 ) (1.4 ) Net assets 0.6 3.0 3.6 Goodwill 12.8 Consideration 16.4 Consideration satisfied by: Cash 16.4 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of GWAVA Inc.; 2 Other intangible assets relating to historic IP has been written down to nil; 3 Deferred income has been valued taking account of the remaining performance obligations; and 4 A deferred tax liability has been established relating to the purchase of intangibles. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows: Fair value $m Technology 4.1 Customer relationships 0.5 Trade names 0.7 5.3 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $12.8m has been capitalized. 3 Acquisition of OpenATTIC On November 1, 2016, the Group acquired the OpenATTIC storage management technology and engineering talent from the company it-novum GmbH for a cash consideration of 4.7m Euros ($5.0m). The OpenATTIC technology aligns perfectly with SUSE’s strategy to provide open source, software defined infrastructure solutions for the enterprise and will strengthen SUSE Enterprise Storage solution by adding enterprise grade storage management capabilities to the portfolio. The transaction costs for the OpenATTIC acquisition were $1.2m. OpenATTIC will be included in the Group’s SUSE business disposal. A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $m $m $m Intangible assets – purchased technology - 5.0 5.0 Net assets - 5.0 5.0 Goodwill - Consideration - - 5.0 Consideration satisfied by: Cash 5.0 4 Acquisition of OpenStack During the year ended April 30, 2017, the Group acquired purchased technology and talent from HPE for $nil consideration that will expand SUSE’s OpenStack Infrastructure-as-a-Service (“IaaS”) solution and accelerate SUSE’s entry into the growing Cloud Foundry Platform-as-a-Service (“PaaS”) market, subject to regulatory clearances. The last regulatory clearance was received on March 8, 2017 and the deal was completed then. OpenStack will be included in the Group’s SUSE business disposal. The acquired OpenStack technology assets were integrated into SUSE OpenStack Cloud and the acquired Cloud Foundry and PaaS assets will enable SUSE in the future to bring to market a certified, enterprise-ready SUSE Cloud Foundry PaaS solution for all customers and partners in the SUSE ecosystem. Additionally, SUSE has increased engagement with the Cloud Foundry Foundation, becoming a platinum member and taking a seat on the Cloud Foundry Foundation Board. As part of the transaction, HPE has named SUSE as its preferred open source partner for Linux, OpenStack IaaS and Cloud Foundry PaaS. HPE’s choice of SUSE as their preferred open source partner further cements SUSE’s reputation for delivering high-quality, enterprise-grade open source solutions and services. |
Cash Flow Statement
Cash Flow Statement | 12 Months Ended |
Oct. 31, 2019 | |
Cash Flow Statement [Abstract] | |
Cash Flow Statement | 39. Cash Flow Statement 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 1 Note $m $m $m Cash flows from operating activities (Loss) / Profit from continuing operations (18.1 ) 707.2 124.1 Profit from discontinued operation 1,487.2 76.9 33.7 Profit for the period 1,469.1 784.1 157.8 Adjustments for: Gain on disposal of discontinued operation 37 (1,767.9 ) - - Net finance costs 6 255.8 342.7 95.8 Taxation – continuing operations 7 (16.0 ) (673.1 ) 38.5 Taxation – discontinued operation 37 318.1 34.2 - Share of results of associates 0.3 1.8 1.3 Operating profit (attributable to continuing and discontinued operations) 259.4 489.7 293.4 - continuing operations 221.7 376.8 293.4 - discontinued operation 37 37.7 112.9 - 259.4 489.7 293.4 Research and development tax credits (1.2 ) (2.0 ) (3.0 ) Depreciation 12 66.5 95.2 11.8 Loss on disposal of property, plant and equipment 3.6 4.7 0.5 Gain on disposal of Atalla 37, 4 (3.7 ) - - Amortization of intangible assets 11 716.5 943.3 236.4 Amortization of contract-related costs 10.2 - - Share-based compensation charge 33 71.3 72.2 34.5 Foreign exchange movements 11.1 (34.6 ) (4.9 ) Provisions movements 24 43.8 142.8 47.3 Changes in working capital: Inventories - 0.1 - Trade and other receivables 183.0 (408.8 ) 10.3 Increase in contract-related costs (36.7 ) - - Payables and other liabilities (114.8 ) 131.3 (33.3 ) Provision utilization 24 (58.6 ) (145.0 ) (43.5 ) Contract liabilities - deferred income (98.5 ) 131.4 15.5 Pension funding in excess of charge to operating profit 4.4 4.0 (0.2 ) Cash generated from operations 1,056.3 1,424.3 564.8 1 |
Significant Accounting polici_2
Significant Accounting policies (Policies) | 12 Months Ended |
Oct. 31, 2019 | |
Significant Accounting policies [Abstract] | |
Basis of preparation | A Basis of preparation The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IASB”) and in conformity with IFRS as adopted by the European Union (collectively “IFRS”). The consolidated financial statements have been prepared on a going concern basis under the historical cost convention. These financial statements have been prepared for a 12-month period as compared with a prior 18-month and 12-month reporting periods and therefore are not entirely comparable. The use of an 18 month reporting period is permitted under the UK Companies Act 2006. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed below in II, ‘Critical accounting estimates, assumptions and judgments’. The principal accounting policies adopted by the Group in the preparation of the consolidated financial statements are set out below. The accounting policies adopted are consistent with those of the Annual Report on Form 20-F for the 18 months ended October 31, 2018 apart from standards, amendments to or interpretations of published standards adopted during the period and the revision in the period to allocate goodwill and purchased intangible assets into functional currencies of the underlying foreign operations and then retranslate goodwill and purchased intangible assets at closing rates, as set out in Accounting Policy J(b) “Foreign currency translation - transactions and balances”, and which has been recorded in the 12 months ended October 31, 2019 (note 11). Going concern The directors, having made enquiries, consider that the Group has adequate resources to continue in operational existence for the foreseeable future and therefore it is appropriate to maintain the going concern basis in preparing these financial statements. Consolidated statement of comprehensive income – Prior Period Revision In the prior period, certain costs were incorrectly presented as administrative expenses ($159.0m) and should have been classified as $43.4m in cost of sales, $94.2m in selling and distribution expenses and $21.4m in research and development expenses. Management have therefore decided to correct the presentation and record these immaterial adjustments to revise the Consolidated statement of comprehensive income for the 18 months ended October 31, 2018. The impact of the revision is to reduce administrative expenses by $159.0m, increase cost of sales by $43.4m, increase selling and distribution expenses by $94.2m and increase research and development expenses by $21.4m as compared with previously reported amounts. The revision has no impact on the operating profit, profit for the period, assets and liabilities or cash flows for the 18 months ended October 31, 2018. This revision has also been reflected in the unaudited financial information for the 12-month period ended October 31, 2018 and the 6-month period ended October 31, 2017 presented in Exhibit 15.4. |
Consolidation | B Consolidation The financial statements of the Group comprise the financial statements of the Company and entities controlled by the Company, its subsidiaries and the Group’s share of its interests in associates prepared at the consolidated statement of financial position date. Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an entity where the Group is exposed to, or has rights to, variable returns from its involvement within the entity and it has the power over the entity to effect those returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing control. Control is presumed to exist when the Group owns more than half of the voting rights (which does not always equal percentage ownership) unless it can be demonstrated that ownership does not constitute control. The results of subsidiaries are consolidated from the date on which control passes to the Group. The results of disposed subsidiaries are consolidated up to the date on which control passes from the Group. The purchase method of accounting is used to account for the acquisition of subsidiaries by the Group. The cost of acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, with costs directly attributable to the acquisition being expensed. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the Group’s share of the identifiable net assets acquired is recorded as goodwill. Where new information is obtained within the ‘measurement period’ (defined as the earlier of the period until which the Group receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable, or one year from the acquisition date) about facts and circumstances that existed as at the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date, the Group recognizes these adjustments to the acquisition balance sheet with an equivalent offsetting adjustment to goodwill. Where new information is obtained after this measurement period has closed, this is reflected in the post-acquisition period. For partly owned subsidiaries, the allocation of net assets and net earnings to outside shareholders is shown in the line ‘Attributable to non-controlling interests’ on the face of the Consolidated statement of comprehensive income and the Consolidated statement of financial position. Inter-company transactions, balances and unrealized gains on transactions between Group companies are eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. At October 31, 2019, the Group had an 84.24% (2018: 81.05%; 2017: 74.70%) interest in Novell Japan Ltd which gives rise to the minority interest reported in these financial statements (note 32). |
Assets held for sale and discontinued operations | C Assets held for sale and discontinued operations A current asset (or disposal group) is classified as held for sale if the Group will recover the carrying amount principally through a sale transaction rather than through continuing use. A current asset (or disposal group) classified as held for sale is measured at the lower of its carrying amount and fair value less costs to sell. If the asset (or disposal group) is acquired as part of a business combination it is initially measured at fair value less costs to sell. Assets and liabilities of disposal groups classified as held for sale are shown separately on the face of the balance sheet. The results of discontinued operations are shown as a single amount on the face of the Consolidated statement of comprehensive income comprising the post-tax profit or loss of discontinued operations and the post-tax gain or loss recognized either on measurement to fair value less costs to sell or on the disposal of the discontinued operation. The Consolidated statement of cash flows has been presented including the discontinued operations. |
Revenue recognition | D Revenue recognition On November 1, 2018, the Group adopted IFRS 15 using the modified retrospective approach which means that the cumulative impact of the adoption was recognized in retained earnings as of November 1, 2018 and that comparatives are not restated. IFRS 15 replaces guidance in IAS 18 and IAS 11. The accounting policies applied under IAS 18 and IAS 11 in the comparative period are presented below under the heading ‘Revenue recognition policy in the prior period’. This standard establishes a new principle-based model of recognizing revenue from customer contracts. It introduces a five-step model that requires revenue to be recognized when control over goods and services are transferred to the customer. Additionally, there is a requirement in the new standard to capitalize certain incremental contract costs. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Group follows the five-step model and recognizes revenue on transfer of control of promised goods or services to customers in an amount that reflects the consideration, which the Group expects to be entitled in exchange for those goods, or services. Customer contracts can include combinations of goods and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is allocated to the various performance obligations on a relative stand-alone selling price (“SSP”) basis. On an on-going basis, the Group utilizes available data points based on relevant historical transactions, to establish the observable stand-alone selling prices to be used in allocating transaction consideration. For observable stand-alone sales a reasonable range of prices will be determined to represent the stand-alone selling price of that performance obligation. Given the highly variable selling price of licences, the Group has not established SSP for licences. When SSP is established for the undelivered performance obligations (typically maintenance and professional services), the residual approach is used to allocate the transaction price to the delivered licences. For performance obligations where observable stand-alone sales are not available, SSP will be estimated using the following methods in the order set out below: - Market price - Expected cost plus a margin - Residual approach The Group recognizes revenues from sales of software licences (including Intellectual Property and Patent rights) to end-users, resellers and Independent Software Vendors (“ISV”), software maintenance, subscription, Software as a Service (“SaaS”), technical support, training and professional services. ISV revenue includes fees based on end usage of ISV applications that have our software embedded in their applications. Software licence revenue is the sale of right to use the software on customer premises and is recognized at a point in time when the software is made available to the customer and/or reseller (i.e. when control of the asset is transferred). The Group enters into licence verification arrangements, for customers who are not in compliance with their contractual licence and/or maintenance terms, by agreeing a one-off settlement fee. If the performance obligation can be identified in the contract, revenue is allocated to each performance obligation, otherwise the Group policy is to recognize it as licence revenue. The allocation of revenue does not impact the timing of revenue recognition in these deals, given the performance obligation(s) have already been fulfilled, but will impact the presentation of revenue recognized during the period, (as licence or licence and maintenance). For Subscriptions and SaaS arrangements where customers access the functionality of a hosted software over the contract period without taking possession of the software, and performance obligations are provided evenly over a defined term, the Group recognizes revenue over the period in which the subscriptions are provided as the service is delivered, generally on a straight-line basis. In SaaS arrangements where the customer has the contractual right to take possession of the software at any time during the contractual period without significant penalty and the customer can operate, or contract with another vendor to operate the software, the Group evaluates whether the arrangement includes the sale of a software licence. In SaaS arrangements where software licences are sold, licence revenue is generally recognized at a point in time when control of the software is transferred to the customer. Maintenance revenue is recognized on a straight-line basis over the term of the contract, which in most cases is one year. For time and material-based professional services contracts, the Group recognizes revenue as services are rendered. The Group recognizes revenue from fixed-price professional services contracts as work progresses over the contract period on a percentage of completion basis, as determined by the percentage of labor costs incurred to date compared to the total estimated labor costs of a contract. Estimates of total project costs for fixed-price contracts are regularly reassessed during the life of a contract. Service costs are expensed as incurred; amounts collected prior to satisfying the above conditions are shown as contract liability and included in deferred income. Rebates paid to resellers as part of a contracted program are accounted for as a reduction of the transaction price and netted against revenue where the rebate paid is based on the achievement of sales targets made by the partner. If the Group receives an identifiable good or service from the reseller that is separable from the sales transaction and for which fair value can be reasonably estimated, the Group accounts for the purchase of the good or service in the same way that it accounts for other purchases from suppliers. Revenue recognition policy in the prior periods The Group recognized revenues from sales of software Licences (including Intellectual Property and Patent rights), to end-users, resellers and Independent Software Vendors (“ISV”), software maintenance, subscription, Software as a Service (“SaaS”), technical support, training and professional services, upon firm evidence of an arrangement, delivery of the software and determination that collection of a fixed or determinable fee is reasonably assured. ISV revenue included fees based on end usage of ISV applications that have our software embedded in their applications. When the fees for software upgrades and enhancements, maintenance, consulting and training were bundled with the Licence fee, they were unbundled using the Group’s objective evidence of the fair value of the elements represented by the Group’s customary pricing for each element in separate transactions. If evidence of fair value existed for all undelivered elements and there was no such evidence of fair value established for delivered elements, revenue was first allocated to the elements where fair value has been established and the residual amount was allocated to the delivered elements. If evidence of fair value for any undelivered element of the arrangement did not exist, all revenue from the arrangement was deferred until such time that there was evidence of delivery. If the arrangement included acceptance criteria, revenue was not recognized until the Group could objectively demonstrate that the acceptance criteria have been met, or the acceptance period lapses, whichever was earlier. The Group recognized Licence revenue derived from sales to resellers upon delivery to resellers, provided that all other revenue recognition criteria was met; otherwise revenue was deferred and recognized upon delivery of the product to the end-user. Where the Group sold access to a Licence for a specified period of time and collection of a fixed or determinable fee was reasonably assured, Licence revenue was recognized upon delivery, except in instances where future substantive upgrades or similar performance obligations were committed to. Where future performance obligations were specified in the Licence agreement, and fair value could be attributed to those upgrades, revenue for the future performance obligations was deferred and recognized on the basis of the fair value of the upgrades in relation to the total estimated sales value of all items covered by the Licence agreement. Where the future performance obligations were unspecified in the Licence agreement, revenue was deferred and recognized rateably over the specified period. For Subscription revenue where access and performance obligations were provided evenly over a defined term, the revenue was deferred and recognized rateably over the specified period. The Group recognized revenue for SaaS arrangements as the service was delivered, generally on a straight-line basis, over the contractual period of performance. In SaaS arrangements, the Group considered the rights provided to the customer (e.g. whether the customer has the contractual right to take possession of the software at any time during the contractual period without significant penalty, and the feasibility of the customer to operate or contract with another vendor to operate the software) in determining whether the arrangement included the sale of a software licence. In SaaS arrangements where software licences were sold, licence revenue was generally recognized according to whether perpetual or term licences are sold, when all other revenue recognition criteria was satisfied. Maintenance revenue was recognized on a straight-line basis over the term of the contract, which in most cases was one year. For time and material-based professional services contracts, the Group recognized revenue as services are rendered and recognized costs as they were incurred. The Group recognized revenue from fixed-price professional services contracts as work progressed over the contract period on a proportional performance basis, as determined by the percentage of labour costs incurred to date compared to the total estimated labour costs of a contract. Estimates of total project costs for fixed-price contracts were regularly reassessed during the life of a contract. Amounts collected prior to satisfying the above revenue recognition criteria were included in deferred income. Rebates paid to partners as part of a contracted program were netted against revenue where the rebate paid was based on the achievement of sales targets made by the partner, unless the Company received an identifiable good or service from the partner that was separable from the sales transaction and for which the Group could reasonably estimate fair value. |
Contract-related costs | E Contract-related costs The Group capitalizes the costs of obtaining a customer contract when they are incremental and, if expected to be recovered, they are amortized over the customer life or pattern of revenue for the related contract. Normally sales commissions paid for customer contract renewals are not commensurate with the commissions paid for new contracts. It follows that the commissions paid for new contracts also relate to expected future renewals of these contracts. Accordingly, the Group amortizes sales commissions paid for new customer contracts on a straight-line basis over the expected customer life, based on expected renewal frequency. The current average customer life is five years. If the expected amortization period is one year or less the costs are expensed when incurred. Amortization of the capitalized costs of obtaining customer contracts is classified as sales and marketing expense. Capitalized costs from customer contracts are classified as non-financial assets in our statement of financial position. |
Cost of sales | F Cost of sales Cost of sales includes costs related to the amortization of product development costs, amortization of acquired technology intangibles, costs of the consulting business and helpline support and royalties payable to third parties. |
Segment reporting | G Segment reporting In accordance with IFRS 8, ‘Operating Segments’, the Group has derived the information for its segmental reporting using the information used by the Chief Operating Decision Maker (“CODM”), defined as the Operating Committee. The segmental reporting is consistent with those used in internal management reporting and the measure used by the Operating Committee is the Adjusted EBITDA, as set out in note 1. |
Exceptional items | H Exceptional items Exceptional items are those significant items, which are separately disclosed by virtue of their size, nature or incidence to enable a full understanding of the Group’s financial performance. In setting the policy for exceptional items, judgment is required to determine what the Group defines as ‘exceptional’. The Group considers an item to be exceptional in nature if it is material, non-recurring or does not reflect the underlying performance of the business. Exceptional items are allocated to the financial statement lines (for example: cost of sales) in the Consolidated statement of comprehensive income based on the nature and function of the costs, for example restructuring costs related to employees are classified where their original employment costs are recorded. Management of the Group first evaluates Group strategic projects such as acquisitions, divestitures and integration activities, Group restructuring and other one-off events such as restructuring programs. In determining whether an event or transaction is exceptional, management of the Group considers quantitative and qualitative factors such as its expected size, precedent for similar items and the commercial context for the particular transaction, while ensuring consistent treatment between favorable and unfavorable transactions impacting revenue, income and expense. Examples of transactions which may be considered of an exceptional nature include major restructuring programs, cost of acquisitions, the cost of integrating acquired businesses or gains on the disposal of discontinued operations. |
Employee benefit costs | I Employee benefit costs a) Pension obligations and long-term pension assets The Group operates various pension schemes, including both defined contribution and defined benefit pension plans. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. For defined contribution plans the Group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognized as an employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement or termination. This is usually dependent on one or more factors such as age, years of service and compensation. The liability recognized in the Consolidated statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. Certain long-term pension assets do not meet the definition of plan assets as they have not been pledged to the plan and are subject to the creditors of the Group. Such assets are recorded separately in the Consolidated statement of financial position as long-term pension assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that have terms to mature approximating to the terms of the related pension obligation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Past-service costs are recognized immediately in income. The current service cost of the defined benefit plan, recognized in the Consolidated statement of comprehensive income in employee benefit expense, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current year, benefit changes, curtailments and settlements. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in finance costs in the Consolidated statement of comprehensive income. Long-term pension assets relate to the reimbursement right under insurance policies held in the Group with guaranteed interest rates that do not meet the definition of a qualifying insurance policy as they have not been pledged to the plan and are subject to the creditors of the Group. Such reimbursement rights assets are recorded in the Consolidated statement of financial position as long-term pension assets. These contractual arrangements are treated as financial assets measured at fair value through other comprehensive income. Gains and losses on long-term pension assets are charged or credited to equity in other comprehensive income in the period in which they arise. b) Share based compensation The Group operated various equity-settled, share based compensation plans during the period. The fair value of the employee services received in exchange for the grant of the shares or options is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the shares or options granted. Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable. Market vesting conditions are taken into account when determining the fair value of the options at grant date. At each Consolidated statement of financial position date, the Group revises its estimates of the number of options that are expected to become exercisable. It recognizes the impact of the revision of original estimates, if any, in the Consolidated statement of comprehensive income, and a corresponding adjustment to equity over the current reporting period. The shares are recognized when the options are exercised and the proceeds received allocated between ordinary shares and share premium account. Fair value is measured using the Black-Scholes pricing model. The expected life used in the model has been adjusted, based on management’s best estimate for the effects of non-transferability, exercise restrictions and behavioral considerations. The Additional Share Grants have been valued using the Monte-Carlo simulation pricing model. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair-value of the unmodified award, provided the original terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. The social security contributions payable in connection with the grant of the share options is considered an integral part of the grant itself, and the charge is treated as a cash-settled transaction. |
Foreign currency translation | J Foreign currency translation a) Functional and presentation currency The presentation currency of the Group is US dollars. Items included in the financial statements of each of the Group’s entities are measured in the functional currency of each entity. b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the Consolidated statement of comprehensive income within administrative expenses. Non-monetary items that are measured in terms of historical costs in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments (including purchased intangible assets) to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the closing rate. On consolidation, the results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: i) Assets and liabilities for each Consolidated statement of financial position presented are translated at the closing rate at the date of that Consolidated statement of financial position; ii) Income and expenses for each Consolidated statement of comprehensive income item are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and iii) All resulting exchange differences are recognized as a separate component of equity. On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to other comprehensive income. Goodwill arising before May 1, 2004 is treated as an asset of the Company and expressed in the Company’s functional currency. c) Exchange rates The most important foreign currencies for the Group are Pounds Sterling, the Euro, Canadian Dollar, Israeli Shekel and Japanese Yen. The exchange rates used are as follows: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Average Closing Average Closing Average Closing £1 = $ 1.27 1.29 1.33 1.27 1.29 1.29 €1 = $ 1.12 1.12 1.18 1.14 1.09 1.09 C$ = $ 0.75 0.76 0.78 0.76 0.76 0.73 ILS = $ 0.28 0.28 0.28 0.27 0.26 0.28 100 JYP = $ 1.10 1.08 0.90 0.92 0.91 0.90 |
Intangible assets | K Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. Each of those cash-generating units represents the Group’s investment in each area of operation by each primary reporting segment. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is classified as held for sale, the goodwill associated with the held-for-sale operation is measured based on the relative values of the held-for-sale operation and the portion of the cash-generating unit retained. b) Computer software Computer software licences are capitalized on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortized using the straight-line method over their estimated useful lives of three to seven years. c) Research and development Research expenditure is recognized as an expense as incurred in the Consolidated statement of comprehensive income in research and development expenses. Costs incurred on product development projects relating to the developing of new computer software programs and significant enhancement of existing computer software programs are recognized as intangible assets when it is probable that the project will be a success, considering its commercial and technological feasibility, and costs can be measured reliably. Only direct costs are capitalized which are the software development employee costs and third-party contractor costs. Product development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Product development costs are amortized from the commencement of the commercial production of the product on a straight-line basis over the period of its expected benefit, typically being three years, and are included in costs of sales in the Consolidated statement of comprehensive income. d) Intangible assets – arising on business combinations Other intangible assets that are acquired by the Group as part of a business combination are recognized at their fair value at the date of acquisition, and are subsequently amortized. Amortization is charged to the Consolidated statement of Comprehensive income on a straight-line basis over the estimated useful life of each intangible asset. Intangible assets are amortized from the date they are available for use. The estimated useful lives will vary for each category of asset acquired and to date are as follows: Purchased software Term licence agreement based, generally three to seven years Technology Three to 12 years Trade names Three to 20 years Customer relationships Two to 15 years Lease contracts Term of the lease agreement Amortization of purchased software intangibles is included in administrative expenses, amortization of purchased technology intangibles is included in cost of sales and amortization of acquired purchased trade names, customer relationships and lease contracts intangibles are included in selling and distribution costs in the Consolidated statement of comprehensive income. |
Property, plant and equipment | L Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance expenditures are charged to the Consolidated statement of comprehensive income during the financial year in which they are incurred. Depreciation is calculated using the straight-line method to write off the cost of each asset to its residual value over its estimated useful life as follows: Buildings 30 years Leasehold improvements Three to 10 years (not exceeding the remaining lease period) Fixtures and fittings Two to seven years Computer equipment One to five years Freehold land is not depreciated. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each Consolidated statement of financial position date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the disposal proceeds with the carrying amount and are included in the Consolidated statement of comprehensive income. Property held for sale is measured at the lower of its carrying amount or estimated fair value less costs to sell. |
Impairment of non-financial assets | M Impairment of non-financial assets Assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows being cash-generating units. Any non-financial assets other than goodwill which have suffered impairment are reviewed for possible reversal of the impairment at each reporting date. Assets that are subject to amortization and depreciation are also reviewed for any possible impairment at each reporting date. |
Inventories | N Inventories Inventories are stated at the lower of cost and net realizable value. The cost of finished goods comprises software for resale and packaging materials. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. When work has been performed and the revenue is not yet recognized, the direct costs of third-party contractors and staff will be treated as work in progress where the probability of invoicing and evidence of collectability can be demonstrated. |
Trade receivables | O Trade receivables Trade receivables are initially recognized at fair value and subsequently measured at amortized cost less provisions for impairment based upon an expected credit loss methodology. The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables. A provision of the lifetime expected credit loss is established upon initial recognition of the underlying asset and are calculated using historical account payment profiles along with historical credit losses experienced. The loss allowance is adjusted for forward looking factors specific to the debtor and the economic environment. The amount of the provision is the difference between the asset’s carrying amount and the present value of the probability weighted estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognized in the Consolidated statement of comprehensive income. |
Cash and cash equivalents | P Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the Consolidated statement of financial position. |
Borrowings | Q Borrowings Borrowings are recognized initially at fair value, net of transaction costs incurred. Subsequent to initial recognition, interest bearing borrowings are stated at amortized cost with any difference between cost and redemption value being recognized in the Consolidated statement of comprehensive income over the period of borrowing on an effective interest basis. |
Finance and operating leases | R Finance and operating leases A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Group is classified as a finance lease. Finance leases are capitalized at the commencement of the lease at the inception date fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognized in finance costs in the Consolidated statement of comprehensive income. A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Group will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term. An operating lease is a lease other than a finance lease. Operating lease payments are recognized as an operating expense in the statement of profit or loss on a straight-line basis over the lease term. Operating sub-lease income is recorded as operating income on a straight-line basis over the sub-lease term. |
Taxation | S Taxation Current and deferred tax are recognized in the Consolidated statement of comprehensive income, except when the tax relates to items charged or credited directly to equity, in which case the tax is also dealt with directly in equity. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, if the deferred income tax arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit nor loss, it is not accounted for. Deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the Consolidated statement of financial position date and are expected to apply when the related deferred income tax asset is realized, or the deferred income tax liability is settled. Deferred income tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Current tax is recognized based on the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted at the Consolidated statement of financial position date. |
Ordinary shares, share premium and dividend distribution | T Ordinary shares, share premium and dividend distribution Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Dividend distributions to the Company’s shareholders are recognized as a liability in the Group’s financial statements in the period in which the dividends are approved by the Company’s shareholders. Interim dividends are recognized when they are paid. |
Derivative financial instruments and hedge accounting | U Derivative financial instruments and hedge accounting Financial assets and liabilities are recognized in the Group’s Consolidated statement of financial position when the Group becomes a party to the contractual provision of the instrument. Trade receivables are non-interest bearing and are initially recognized at fair value and subsequently measured at amortized cost less provisions for impairment based upon an expected credit loss methodology. Trade payables are non-interest bearing and are stated at their fair value. Derivative financial instruments are only used for economic hedging purposes and not as speculative investments. The Group uses derivative financial instruments, such as interest rate swaps, to hedge its interest rate risks. Such derivative financial instruments are initially recognized at fair value on the date on which the contract is entered into and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. IFRS 9 replaces the provisions of IAS 39 that relate to the recognition, classification and measurement of financial assets and financial liabilities, de-recognition of financial instruments, impairment of financial assets and hedge accounting. IFRS 9 also amends certain other standards covering financial instruments such as IAS 1 “Presentation of Financial Statements”. IFRS 9 was effective for accounting periods beginning on or after January 1, 2018 and the impact of the adoption by the Group with effect from November 1, 2018 can be seen in Section X “Adoption of new and revised International Financial Reporting Standards”. Hedge accounting is permitted under certain circumstances provided the following criteria are met: At inception of the hedge, the documentation must include the risk management objective and strategy for undertaking the hedge, identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the entity will assess the hedging instrument’s effectiveness. Such hedges are expected to be effective in achieving offsetting changes in cash flows and are assessed on an on-going basis to determine the level of effectiveness. The measurement of effectiveness determines the accounting treatment. For effective results, changes in the fair value of the hedging instrument should be recognized in other comprehensive income in the hedging reserve, while any material ineffectiveness should be recognized in the statement of comprehensive income. If prospective testing is not satisfactorily completed, all fair value movements on the hedging instrument should be recorded in the Consolidated statement of comprehensive income. Hedge accounting is ceased prospectively if the instrument expires or is sold, terminated or exercised; the hedge criteria are no longer met; the forecast transaction is no longer expected to occur. |
Provisions | V Provisions Provisions for onerous leases, property restoration costs, restructuring costs and legal claims are recognized when the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognized for future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as an interest expense. |
Contingent Liabilities | W Contingent Liabilities Contingent liabilities are possible obligations that arise from past events and whose existence will be confirmed only by uncertain future events or present obligations that arise from past events where the transfer of economic resources is uncertain or cannot be reliability estimated. Contingent liabilities are not recognized in the consolidated financial statements, except if they arise from a business combination; they are disclosed in the notes to the consolidated financial statements unless the likelihood of an outflow of economic resources is remote. |
Adoption of new and revised International Financial Reporting Standards | X Adoption of new and revised International Financial Reporting Standards The accounting policies adopted in these consolidated financial statements are consistent with those of the annual financial statements for the 18 months ended October 31, 2018, with the exception of the following standards, amendments to or interpretations of published standards that are now effective and have been adopted during the period: - IFRS 15 “Revenue from contracts with customers” established the principles that an entity should apply to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a contract with a customer. Application of the standard was mandatory for annual reporting periods starting from January 1, 2018 onwards. The standard replaced IAS 18 “Revenue” and IAS 11 “Construction contracts” and related interpretations clarifications. Clarifications to IFRS 15 “Revenue from Contracts with Customers” comprised guidance on identifying performance obligations, accounting for licences of intellectual property and the principal versus agent assessment (gross versus net revenue presentation). - IFRS 9 “Financial instruments”. This standard replaces the guidance in IAS 39 and applies to periods beginning on or after January 1, 2018. It includes requirements on the classification and measurement of financial assets and liabilities; it also includes an expected credit loss model that replaces the current incurred loss impairment model. - Amendments to IFRS 2, “Share based payments” on clarifying how to account for certain types of share-based payment transactions are effective on periods beginning on or after January 1, 2018. These amendments clarify the measurement basis for cash-settled share-based payments and the accounting for modifications that change an award from cash-settled to equity-settled. It also introduces an exception to the principles in IFRS 2 that will require an award to be treated as if it was wholly equity-settled, where an employer is obliged to withhold an amount for the employee’s tax obligation associated with a share-based payment and pay that amount to the tax authority. This amendment has no material impact on the reported results and financial position. - Annual improvements 2014–2016 (which includes amendments to IFRS 1 First-time adoption of IFRS, IFRS 12 Disclosure of interests in other entities and IAS 28 Investments in associates and joint ventures) and IFRIC 22 Foreign currency transactions and advance consideration were adopted on November 1, 2018 and had no impact on the reported results and financial position. Impact of IFRS 15 ‘Revenue from contracts with customers’ IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue and certain incremental contract costs are recognized. IFRS 15 is effective for accounting periods beginning on or after January 1, 2018 and has been adopted by the Group with effect from November 1, 2018. The Group adopted the standard using the modified retrospective approach which means that the cumulative impact of the adoption was recognized in retained earnings as of November 1, 2018 and the comparatives are not restated and continue to be presented in accordance with IAS 18 and IAS 11. The accounting policies applied in the comparative period are presented in Section D “Revenue recognition” above under the heading “Revenue recognition policy in the prior period”. The effect of initially applying this standard is mainly attributed to: • the earlier recognition of revenue from consideration paid to a customer; and • later recognition of costs of obtaining customer contracts. IFRS 15 replaces guidance in IAS 18 and IAS 11. This standard establishes a new principle-based model of recognizing revenue from customer contracts. It introduces a five-step model that requires revenue to be recognized when control over goods and services are transferred to the customer. Additionally, there is a requirement in the new standard to capitalize certain incremental contract costs. Set out below are the three primary areas of difference of the new accounting policy under IFRS 15. Cost of obtaining customer contracts The Group has considered the impact of IFRS 15 on the recognition of sales commission costs, which meet the definition of incremental costs of obtaining a contract under IFRS 15. The Group applies a practical expedient to expense the sales commission’s costs as incurred where the expected amortization period is one year or less. An asset is recognized for the sales commissions, which will typically be amortized across the contract length or customer life where the practical expedient cannot be applied. The customer life has been assessed as five years for the Group and six years in the SUSE business, until the date of disposal. At transition date, the Group has only capitalized commissions paid for uncompleted contracts at November 1, 2018 and has amortized those balances in the year ended October 31, 2019, as compared to capitalizing all relevant commissions in future periods. By taking this practical expedient there is a benefit to profit before tax in the 12 months ended October 31, 2019 as the capitalization of commissions is greater than the amortization and consequently the overall commission costs is reduced under IFRS 15 compared to prior accounting policies where sales commissions were expensed as incurred. Rebillable expenses The Group now reports expenses that are recharged to customers, such as travel and accommodation, as Consulting revenue. Under previous accounting policies, these were presented as an offsetting entry within cost of sales. Consideration payable to a customer The Group makes payments, including rebates, to customers. The Group accounts for consideration payable to a customer as a reduction of the transaction price and therefore revenue. An adjustment is recorded as the total expected considerations payable over the contract term is accounted for as variable consideration at the outset of the contract and treated as a reduction in the transaction price to be recognized over the life of the contract, previously amounts were treated as revenue reductions when incurred. Where the payment is for a distinct good or service, then the Group accounts for the purchase in the same way as it does for purchases from suppliers in the normal course of business. Certain marketing costs, which were previously presented as an offsetting entry within revenue, are now presented as a Selling and Distribution cost Presentation Under the new IFRS 15 based policies, the Group no longer reports items as deferred revenue and accrued revenue. Instead, we present these as either a contract liability or contract asset. Rights to consideration from customers are only presented as accounts receivable if the rights are unconditional. IFRS 9 “Financial Instruments” IFRS 9 replaces the provisions of IAS 39 that relate to the recognition, classification and measurement of financial assets and financial liabilities, de-recognition of financial instruments, impairment of financial assets and hedge accounting. IFRS 9 also amends certain other standards covering financial instruments such as IAS 1 “Presentation of Financial Statements”. IFRS 9 is effective for accounting periods beginning on or after January 1, 2018 and has been adopted by the Group with effect from November 1, 2018. The classification and measurement basis for the Group’s financial assets is largely unchanged by the adoption of IFRS 9. There is no impact on the Group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Group does not have any such liabilities. The de-recognition rules have been transferred from IAS 39 “Financial Instruments: Recognition and Measurement” and have not been changed. Under the new hedge accounting rules as a general rule, more hedge relationships might be eligible for hedge accounting, as the standard introduces a more principles-based approach. The Group has confirmed that its current hedge relationships continue to qualify as hedges under IFRS 9. The main impact of adopting IFRS 9 is the application of the expected credit loss model, which requires the recognition of impairment provisions based on expected credit losses (ECL) rather than only incurred credit losses as was the case under the prior standard, IAS 39. The new impairment requirements apply to the consolidated Group’s financial assets classified at amortized cost, particularly to its trade receivables and contract assets. The Group has elected to apply the practical expedient allowed under IFRS 9 to recognize the full amount of credit losses that would be expected to be incurred over the full recovery period of trade receivables. The adoption of IFRS 9 resulted in an increase to trade receivables loss reserves of $20.0m being recorded on November 1, 2018 against retained earnings. IFRS 9 has no material impact on the carrying value of contract assets. There is no material impact on the Group’s basic or diluted EPS for the periods ended October 31, 2018 or 2019. Reclassification of financial instruments on adoption of IFRS 9 Upon adoption of IFRS 9 on November 1, 2018, there were no changes to the measurement categories of financial instruments. The adoption of IFRS 9 did not result in any changes to the measurement of financial instruments other than as a result of applying the new expected credit loss methodology when determining the trade receivables loss allowance. The change in measure of the trade receivables loss allowance had no material impact on the Group’s basic or diluted earnings per share for the 12 months ended October 31, 2019 or the 18 months ended October 31, 2018. Measurement category Carrying amount Note IAS 39 IFRS 9 October 31, 2018 IFRS 9 1 November 1, 2018 $m $m $m Financial assets Non-current Long-term pension assets 25 Available-for-sale financial assets Fair value through other comprehensive income 16.7 - 16.7 Derivative financial instruments 31 Fair value through profit and loss Fair value through profit and loss 86.4 - 86.4 Current Cash and cash 18 Amortized cost Amortized cost 620.9 - 620.9 Trade and other receivables 16 Amortized cost Amortized cost 1,212.0 (20.0 ) 1,192.0 Financial liabilities – financial liabilities at amortized cost Non-current Borrowings (gross) 20 Amortized cost Amortized cost 4,946.6 - 4,946.6 Finance leases 21 Amortized cost Amortized cost 14.9 - 14.9 Provisions 24 Amortized cost Amortized cost 35.4 - 35.4 Current Borrowings (gross) 20 Amortized cost Amortized cost 50.3 - 50.3 Finance leases 21 Amortized cost Amortized cost 13.6 - 13.6 Trade and other payables 19 Amortized cost Amortized cost 676.9 - 676.9 Provisions 24 Amortized cost Amortized cost 57.4 - 57.4 1 Summary of quantitative impact of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial Instruments” Under the IFRS 15 and IFRS 9, adoption methods chosen by the Group, prior period comparatives are not restated to conform to the new policies. Consequently, the period-over-period change of revenue and profit in the 12 months to October 31, 2019 is impacted by the new policies. We have set out below the estimated impacts on the Group of the areas described above, including the adjustment to retained earnings recorded on the transition date of November 1, 2018, which resulted in a corresponding $52.4m asset being recorded relating to IFRS 15 and a $20.0m liability and related deferred tax asset of $4.4m being recorded relating to IFRS 9 on the balance sheet. The in-year impact of IFRS 9 therefore is immaterial. The following tables summarize the impact of adopting IFRS 15 on the Group’s Consolidated statement of financial position as at October 31, 2019 and its Consolidated statement of comprehensive income for the 12 months then ended for each of the lines affected. There was no material impact on the Group’s Consolidated statement of cash flows for the 12 months ended October 31, 2019. Consolidated statement of comprehensive income – impact of IFRS 15 in the year ended October 31, 2019 12 months ended October 31, 2019 18 months ended October 31, 2018 Post IFRS 15 IFRS 15 Adjustments Pre IFRS 15 Note $m $m $m $m Revenue 1,2 3,348.4 (16.1 ) 3,332.3 4,754.4 Operating profit 221.7 (22.1 ) 199.6 376.8 Finance costs 6 (282.4 ) - (282.4 ) (350.4 ) Finance income 6 26.6 - 26.6 7.7 (Loss)/ profit before tax (34.1 ) (22.1 ) (56.2 ) 34.1 Taxation 7 16.0 1.6 17.6 673.1 (Loss)/profit from continuing operations (18.1 ) (20.5 ) (38.6 ) 707.2 Profit from discontinued operation (attributable to equity shareholders of the Company) 37 1,487.2 30.6 1,517.8 76.9 Profit for the period 1,469.1 10.1 1,479.2 784.1 Attributable to: Equity shareholders of the parent 1,468.8 10.1 1,478.9 784.0 Non-controlling interests 0.3 - 0.3 0.1 Profit for the period 1,469.1 10.1 1,479.2 784.1 Earnings per share (cents) From continuing and discontinued operations cents cents cents cents - Basic 9 388.50 2.67 391.17 201.70 - Diluted 9 384.35 2.64 386.99 196.17 From continuing operations - Basic 9 (4.87 ) (5.42 ) (10.29 ) 181.91 - Diluted 9 (4.87 ) (5.42 ) (10.29 ) 176.92 Earnings per share (pence) From continuing and discontinued operations pence pence pence pence - Basic 9 305.07 2.10 307.17 151.61 - Diluted 9 301.81 2.08 303.89 147.45 From continuing operations - Basic 9 (3.82 ) (4.26 ) (8.08 ) 136.73 - Diluted 9 (3.82 ) (4.26 ) (8.08 ) 132.98 Consolidated statement of financial position – impact of IFRS 15 on year ended October 31, 2019 12 months ended October 31, 2019 18 months ended October 31, 2018 Post IFRS 15 IFRS 15 Adjustments Pre IFRS 15 Note $m $m $m $m ASSETS Non-current assets Contract-related costs 17 31.5 (31.5 ) - - Current assets Trade and other receivables 16 1,032.9 (0.9 ) 1,032.0 1,272.0 Contract-related costs 17 19.3 (19.3 ) - - LIABILITIES Current liabilities Trade and other payables 19 (611.0 ) - (611.0 ) (676.9 ) Contract liabilities 23 (1,045.9 ) - (1,045.9 ) (1,134.7 ) Non-current liabilities Contract liabilities 23 (149.9 ) - (149.9 ) (178.1 ) Deferred tax liabilities 28 (987.1 ) 9.0 (978.1 ) (1,170.5 ) Table below shows the impact of IFRS 15 on opening retained earnings at November 1, 2018 and the continuing operations and discontinued operation for the 12 months ended October 31, 2019. Continuing operations Discontinued operation Increase / (decrease) in opening retained earnings on November 1, 2018 Increase / (decrease) in Revenue in the 12 months ended October 31, 2019 Increase / (decrease) in Operating expenses in the 12 months ended October 31, 2019 Increase / (decrease) in Profit before tax in the 12 months ended October 31, 2019 Profit/(loss) from discontinued operation (attributable to equity shareholders of the Company) in the 12 months ended October 31, 2019 $m $m $m $m $m Cost of obtaining customer contracts 64.7 - (21.2 ) 21.2 (35.4 ) Rebillable expenses - 2.4 2.4 - - Consideration payable to a customer 5.0 13.7 12.8 0.9 (5.0 ) Deferred tax (17.3 ) - - - 9.8 52.4 16.1 (6.0 ) 22.1 (30.6 ) During the 12 months ending October 31, 2019, the Group amortized $10.2m contract-related costs and capitalized $31.4m, resulting in a net increase in profit before tax of $21.2m (note 17). Retained earnings – impact of IFRS 15 and IFRS 9 Retained earnings at October 31, 2018 IFRS 15 Adjustment IFRS 9 Adjustment Retained earnings at November 1, 2018 $m $m $m $m Retained earnings 3,275.2 52.4 (15.6 ) 3,312.0 The impact of the application of future new and revised IFRSs, which are expected to have a material impact to the Group is described below: IFRS 16 “Leases” In January 2016, the IASB published IFRS 16 “Leases”, which will replace IAS 17 “Leases” and IFRIC 4 “Determining whether an arrangement contains a lease”. IFRS 16 is effective for the Group from November 1, 2019. IFRS 16 introduces a new definition of a lease, with a single lessee accounting model eliminating the previous distinction between operating leases and finance leases. Under IFRS 16, lessees are required to account for all leases in a similar manner to finance lease accounting under IAS 17. Current finance lease accounting remains largely unchanged and so the primary impact of the standard is on leases that are currently classified as operating leases. The determination of when an arrangement contains a lease is largely unchanged from current requirements and the Group does not expect to recognize any new leases as a result of adopting IFRS 16. The Group’s portfolio of leases materially comprises office facilities around the world that the Group uses to conduct its business, and vehicles for use by the workforce. The Group has elected to implement IFRS 16 on a modified retrospective basis, which means the cumulative effect of initially applying the standard will be adjusted in retained earnings on November 1, 2019. The Group has a choice, on a lease-by-lease basis, to measure the right-of-use asset at either: • its carrying amount as if IFRS 16 had been applied since the commencement of the lease; or • an amount equal to the lease liability, adjusted for accruals or prepayments. Where historical information is readily available for property leases, we intend to apply the former accounting method. For all other leases, we intend to apply the latter method. The Group has other elections and accounting policy choices to make in adopting IFRS 16 and as such, the Group has elected not to apply IFRS 16 to leases for which the underlying asset is of low value, nor does the Group intend to apply IFRS 16 to leases of intangible assets. In adopting IFRS 16, the Group has applied the following practical expedients that are available in IFRS 16: • We have not reassessed whether an arrangement is, or contains, a lease at November 1, 2019. Instead, the Group has applied IFRS 16 to leases that had previously been identified as leases under IAS 17 “Leases” and IFRIC 4 “Determining whether an arrangement contains a lease”; • Where there is a group of leases with reasonably similar characteristics, we have applied a single discount rate to each lease portfolio; • The Group intends to rely on its assessment of whether leases are onerous by applying IAS 37 “Provisions, Contingent Liabilities and Contingent Assets” at October 31, 2019 as an alternative to performing an impairment review on the application date. The Group will adjust the right-of-use asset at November 1, 2019 by the amount of any provision for onerous leases recognized in the Consolidated statement of financial position on October 31, 2019; • The Group will exclude initial direct costs from the measurement of the right-of-use asset at November 1, 2019; and • Where the Group has measured a right-of-use asset as its carrying amount as if IFRS 16 had been applied since its inception, The Group has applied hindsight in assessing extension or termination options. Effect of IFRS 16 on the Consolidated Statement of Financial Position While the Group is still evaluating the effect that IFRS 16 will have on the Consolidated financial statements, the Group expects to recognize in the Consolidated Statement of Financial Position on November 1, 2019: • an asset of between $241.0m and $261.0m representing the Group’s right to use leased assets, including $20.9m of assets currently classified as finance leases within property, plant and equipment; • a liability of between $286.0m and $306.0m representing the Group’s contractual obligation to make lease payments (including $23.5m of liabilities currently classified as finance leases); and • a reduction of between $7.0m and $7.8m in retained earnings. The asset of between $241.0m and $261.0m disclosed above excludes costs related to obligations to restore leased properties, which are capitalized as part of property, plant and equipment under IAS 17, which will be reclassified to right-of-use assets on adoption of IFRS 16. The recognition of the new lease liability will increase the Group’s debt. The operating lease expense currently recognized in the Consolidated statement of comprehensive Income will be replaced by a depreciation expense against the right-of-use asset and a finance expense related to the lease liability. The impact on profit before tax for the year ended October 31, 2020 is not expected to be material. The impact on tax balances as a result of the above changes is still being assessed. There will be no net impact on the Consolidated statement of cash flows, however the operating lease cash out-flows within operating cash-flows will largely be replaced by a financing cash-outflow. Key judgments and estimates made in calculating the initial impact of adoption include the determination of the lease term, the grouping of leases for the purpose of assigning a discount rate and calculating the discount rate. The Group’s undiscounted non-cancellable operating lease commitments is $301.2m at October 31, 2019 (October 31, 2018: $228.0m) under IAS 17 “Leases” (note 34). The lease liability of between $286.0m and $306.0m (inclusive of amounts already reported as finance leases under IAS 17) shown above with be included in Net debt as at November 1, 2019. The following interpretations and amendments to existing standards are not yet effective and have not been adopted early by the Group: - IFRIC 23, “Uncertainty over Income Tax Treatments” clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. In such a circumstance, an entity shall recognize and measure its current or deferred tax asset or liability applying the requirements in IAS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates determined applying this interpretation. This interpretation is effective for annual periods beginning on or after January 1, 2019. The Group does not expect a material impact upon adoption of IFRIC23. - Annual Improvements 2017 includes amendments to IFRS 3, “Business combinations”, IFRS 11 “Joint arrangements” and IAS 12 Income taxes applies for periods beginning on or after January 1, 2019. - Amendments to IAS 28 Investments in Associates and Joint Ventures – “Long-term Interests in Associates and Joint Ventures”, clarifies that IFRS 9 “Financial instruments” applies, including its impairment requirements to long-term interests in an associate or joint venture that form part of the net investment in the associate or joint venture but to which the equity method is not applied. - Amendments to IAS 19 “Employee Benefits” clarify that on a plan amendment, curtailment or settlement of a defined benefit plan, entities must use updated actuarial assumptions to determine its current service cost and net interest for the period; and the effect of the asset ceiling is disregarded when calculating the gain or loss on any settlement of the plan and is dealt with separately in other comprehensive income, effective January 1, 2019. - Amendments to References to the Conceptual Framework in IFRS Standards - Amendments to IFRS 2, IFRS 3, IFRS 6, IFRS 14, IAS 1, IAS 8, IAS 34, IAS 37, IAS 38, IFRIC 12, IFRIC 19, IFRIC 20, IFRIC 22, and SIC-32 to update those pronouncements with regard to the revised Conceptual Framework, effective January 1, 2020. - Amendments to IFRS 3 Business Combinations, effective January 1, 2020, subject to EU endorsement. - Amendments to IFRS 9, IAS 39 and IFRS 7: Interest rate benchmark reforms, effective January 1, 2020. The impact of the amendments and interpretations listed above will not have a material impact on the consolidated financial statements. |
Critical accounting estimates, assumptions and judgments | II Critical accounting estimates, assumptions and judgments In preparing these consolidated financial statements, the Group has made its best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. The Group regularly reviews these estimates and updates them as required. Actual results could differ from these estimates. Unless otherwise indicated, the Group does not believe that there is a significant risk of a material change to the carrying value of assets and liabilities within the next financial year related to the accounting estimates and assumptions described below. The Group considers the following to be a description of the most significant estimates and judgments, which require the Group to make subjective and complex judgments, and matters that are inherently uncertain. Critical accounting estimates and assumptions A Potential impairment of goodwill and other intangible assets Each period, or whenever there are changes in circumstances indicating that the carrying amounts may not be recoverable, the Group carries out impairment tests of goodwill and other assets which require estimates to be made of the value in use of its CGUs. These value in use calculations are dependent on estimates of future cash flows including long-term growth rates, the medium-term annual revenue growth rate by product group and an appropriate discount rate to be applied to future cash flows. Further details on these estimates and sensitivity of the carrying value of goodwill to the discount rate and the medium-term annual revenue growth rate by product group in particular are provided in note 10. B Retirement benefit obligations The valuation of retirement benefit obligations is dependent upon a number of assumptions that are estimated at the year-end date, including estimates of mortality rates, inflation, salary growth rates and the rate at which scheme liabilities are discounted. Further detail on these estimates and the sensitivity of the carrying value of the defined benefit obligation to these is provided in note 25. C Revenue recognition The key areas of judgment in respect of recognizing revenue are the timing of recognition and how the different elements of bundled contracts are identified, for example between licence and maintenance revenues. Revenue recognition under IFRS 15 is significantly more complex than under previous reporting requirements and necessitates the increased use of management judgments and estimates to produce financial information. IFRS 15 also introduces management judgment in relation to the timing of recognition of certain categories of cost. The most significant accounting judgments in applying IFRS 15 are disclosed below. Identification of performance obligations Revenue recognition requires significant judgment in identifying each distinct performance obligation requiring separate recognition in a multi-element contract (e.g. licence, maintenance, material rights for option to acquire additional products or services at discounted prices). This judgment impacts the timing of revenue recognition, as certain performance obligations are recognized at a point in time and others are recognized over the life of the contract, as explained in Accounting Policy D, and therefore the quantum of revenue and profit recognized in each period. D Exceptional item classification The Group classifies items as exceptional in line with Accounting Policy H. The classification of these items as an exceptional is a matter of judgment. This judgment is made by management after evaluating each item deemed to be exceptional against the criteria set out within the defined accounting policy. E Provision for income taxes The Group is subject to income taxes in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes including structuring activities undertaken by the Group and the application of complex transfer pricing rules. The Group recognizes liabilities for anticipated settlement of tax issues based on judgments of whether additional taxes will be due. Significant issues may take several periods to resolve. In making judgments on the probability and amount of any tax charge, management takes into account: • Status of the unresolved matter; • Strength of technical argument and clarity of legislation; • External advice; • Resolution process, past experience and precedents set with the particular taxing authority; • Agreements previously reached in other jurisdictions on comparable issues; and • Statute of limitations. Key judgments in the period were related to the structuring activities undertaken in relation to the disposal of SUSE and whether these activities would create an additional tax charge through US and other overseas tax legislation. Based on their assessment, the directors have concluded that no additional material tax provisions are required with regards to these matters. The ultimate tax liability may differ from the amount provided depending on interpretations of tax law, settlement negotiations or changes in legislation. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. There is no estimate associated with the provision for income taxes that could be expected to result in a material change within the next 12 months. III Financial risk factors The Group’s multi-national operations expose it to a variety of financial risks that include the effects of changes in credit risk, foreign currency risk, interest rate risk and liquidity risk. Risk management is carried out by a central treasury department under policies approved by the board of directors. Group treasury identifies and evaluates financial risks alongside the Group’s operating units. The board provides written principles for risk management together with specific policies covering areas such as foreign currency risk, interest rate risk, credit risk and liquidity risk, use of derivative financial instruments and non-derivative financial instruments as appropriate, and investment of excess funds. A Credit risk Financial instruments which potentially expose the Group to a concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash equivalents are deposited with high-credit quality financial institutions. The Group provides credit to customers in the normal course of business. Collateral is not required for those receivables, but on-going credit evaluations of customers’ financial conditions are performed. The Group maintains a provision for impairment based upon the expected credit losses. The Group sells products and services to a wide range of customers around the world and therefore believes there is no material concentration of credit risk. B Foreign currency risk The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to the Euro, UK Pound Sterling, Israeli Shekel, Japanese Yen and the Canadian Dollar. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. Foreign exchange risk arises when future commercial transactions, recognized assets and liabilities are denominated in a currency that is not the entity’s functional currency. There were no foreign currency hedging transactions in place at October 31, 2019 and October 31, 2018. The Group has certain investments in foreign operations, whose net assets are exposed to foreign currency translation risk. C Interest rate risk The Group’s income and cash generated from operations are substantially independent of changes in market interest rates. The Group’s interest rate risk arises from short-term and long-term borrowings. Borrowings issued at variable rates expose the Group to cash flow interest rate risk. The Group currently uses four interest rate swaps to manage its cash flow interest rate risk arising from potential increases in the LIBOR interest rate. D Liquidity risk Central treasury carries out cash flow forecasting for the Group to ensure that it has sufficient cash to meet operational requirements and to allow the repayment of the bank facility. Surplus cash in the operating units over and above what is required for working capital needs is transferred to Group treasury. These funds are used to repay bank borrowings or are invested in interest bearing current accounts, time deposits or money market deposits of the appropriate maturity period determined by consolidated cash forecasts. Trade payables arise in the normal course of business and are all current. Onerous lease provisions are expected to mature between less than 12 months and eight years. At October 31, 2019 gross borrowings of $4,775.0m (October 31, 2018: $4,996.9m) related to our senior secured debt facilities (note 20). $nil (October 31, 2018: $50.3m) is current of which $nil (October 31, 2018: $nil) is the revolving credit facility. The borrowings disclosed in the balance sheet are net of pre-paid facility costs and original issue discounts. |
Significant Accounting polici_3
Significant Accounting policies (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Significant Accounting policies [Abstract] | |
Exchange Rates | The exchange rates used are as follows: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Average Closing Average Closing Average Closing £1 = $ 1.27 1.29 1.33 1.27 1.29 1.29 €1 = $ 1.12 1.12 1.18 1.14 1.09 1.09 C$ = $ 0.75 0.76 0.78 0.76 0.76 0.73 ILS = $ 0.28 0.28 0.28 0.27 0.26 0.28 100 JYP = $ 1.10 1.08 0.90 0.92 0.91 0.90 |
Estimated Useful Lives of Intangible Assets | The estimated useful lives will vary for each category of asset acquired and to date are as follows: Purchased software Term licence agreement based, generally three to seven years Technology Three to 12 years Trade names Three to 20 years Customer relationships Two to 15 years Lease contracts Term of the lease agreement |
Estimated Useful Lives of Property, Plant and Equipment | Depreciation is calculated using the straight-line method to write off the cost of each asset to its residual value over its estimated useful life as follows: Buildings 30 years Leasehold improvements Three to 10 years (not exceeding the remaining lease period) Fixtures and fittings Two to seven years Computer equipment One to five years |
Reclassification of Financial Instruments on Adoption of IFRS 9 | The change in measure of the trade receivables loss allowance had no material impact on the Group’s basic or diluted earnings per share for the 12 months ended October 31, 2019 or the 18 months ended October 31, 2018. Measurement category Carrying amount Note IAS 39 IFRS 9 October 31, 2018 IFRS 9 1 November 1, 2018 $m $m $m Financial assets Non-current Long-term pension assets 25 Available-for-sale financial assets Fair value through other comprehensive income 16.7 - 16.7 Derivative financial instruments 31 Fair value through profit and loss Fair value through profit and loss 86.4 - 86.4 Current Cash and cash 18 Amortized cost Amortized cost 620.9 - 620.9 Trade and other receivables 16 Amortized cost Amortized cost 1,212.0 (20.0 ) 1,192.0 Financial liabilities – financial liabilities at amortized cost Non-current Borrowings (gross) 20 Amortized cost Amortized cost 4,946.6 - 4,946.6 Finance leases 21 Amortized cost Amortized cost 14.9 - 14.9 Provisions 24 Amortized cost Amortized cost 35.4 - 35.4 Current Borrowings (gross) 20 Amortized cost Amortized cost 50.3 - 50.3 Finance leases 21 Amortized cost Amortized cost 13.6 - 13.6 Trade and other payables 19 Amortized cost Amortized cost 676.9 - 676.9 Provisions 24 Amortized cost Amortized cost 57.4 - 57.4 1 |
Quantitative Impact of IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments | Consolidated statement of comprehensive income – impact of IFRS 15 in the year ended October 31, 2019 12 months ended October 31, 2019 18 months ended October 31, 2018 Post IFRS 15 IFRS 15 Adjustments Pre IFRS 15 Note $m $m $m $m Revenue 1,2 3,348.4 (16.1 ) 3,332.3 4,754.4 Operating profit 221.7 (22.1 ) 199.6 376.8 Finance costs 6 (282.4 ) - (282.4 ) (350.4 ) Finance income 6 26.6 - 26.6 7.7 (Loss)/ profit before tax (34.1 ) (22.1 ) (56.2 ) 34.1 Taxation 7 16.0 1.6 17.6 673.1 (Loss)/profit from continuing operations (18.1 ) (20.5 ) (38.6 ) 707.2 Profit from discontinued operation (attributable to equity shareholders of the Company) 37 1,487.2 30.6 1,517.8 76.9 Profit for the period 1,469.1 10.1 1,479.2 784.1 Attributable to: Equity shareholders of the parent 1,468.8 10.1 1,478.9 784.0 Non-controlling interests 0.3 - 0.3 0.1 Profit for the period 1,469.1 10.1 1,479.2 784.1 Earnings per share (cents) From continuing and discontinued operations cents cents cents cents - Basic 9 388.50 2.67 391.17 201.70 - Diluted 9 384.35 2.64 386.99 196.17 From continuing operations - Basic 9 (4.87 ) (5.42 ) (10.29 ) 181.91 - Diluted 9 (4.87 ) (5.42 ) (10.29 ) 176.92 Earnings per share (pence) From continuing and discontinued operations pence pence pence pence - Basic 9 305.07 2.10 307.17 151.61 - Diluted 9 301.81 2.08 303.89 147.45 From continuing operations - Basic 9 (3.82 ) (4.26 ) (8.08 ) 136.73 - Diluted 9 (3.82 ) (4.26 ) (8.08 ) 132.98 Consolidated statement of financial position – impact of IFRS 15 on year ended October 31, 2019 12 months ended October 31, 2019 18 months ended October 31, 2018 Post IFRS 15 IFRS 15 Adjustments Pre IFRS 15 Note $m $m $m $m ASSETS Non-current assets Contract-related costs 17 31.5 (31.5 ) - - Current assets Trade and other receivables 16 1,032.9 (0.9 ) 1,032.0 1,272.0 Contract-related costs 17 19.3 (19.3 ) - - LIABILITIES Current liabilities Trade and other payables 19 (611.0 ) - (611.0 ) (676.9 ) Contract liabilities 23 (1,045.9 ) - (1,045.9 ) (1,134.7 ) Non-current liabilities Contract liabilities 23 (149.9 ) - (149.9 ) (178.1 ) Deferred tax liabilities 28 (987.1 ) 9.0 (978.1 ) (1,170.5 ) Table below shows the impact of IFRS 15 on opening retained earnings at November 1, 2018 and the continuing operations and discontinued operation for the 12 months ended October 31, 2019. Continuing operations Discontinued operation Increase / (decrease) in opening retained earnings on November 1, 2018 Increase / (decrease) in Revenue in the 12 months ended October 31, 2019 Increase / (decrease) in Operating expenses in the 12 months ended October 31, 2019 Increase / (decrease) in Profit before tax in the 12 months ended October 31, 2019 Profit/(loss) from discontinued operation (attributable to equity shareholders of the Company) in the 12 months ended October 31, 2019 $m $m $m $m $m Cost of obtaining customer contracts 64.7 - (21.2 ) 21.2 (35.4 ) Rebillable expenses - 2.4 2.4 - - Consideration payable to a customer 5.0 13.7 12.8 0.9 (5.0 ) Deferred tax (17.3 ) - - - 9.8 52.4 16.1 (6.0 ) 22.1 (30.6 ) During the 12 months ending October 31, 2019, the Group amortized $10.2m contract-related costs and capitalized $31.4m, resulting in a net increase in profit before tax of $21.2m (note 17). Retained earnings – impact of IFRS 15 and IFRS 9 Retained earnings at October 31, 2018 IFRS 15 Adjustment IFRS 9 Adjustment Retained earnings at November 1, 2018 $m $m $m $m Retained earnings 3,275.2 52.4 (15.6 ) 3,312.0 |
Segmental reporting (Tables)
Segmental reporting (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Segmental reporting [Abstract] | |
Segmental Reporting | The internal management reporting that the Operating Committee receives includes a pool of centrally managed costs, which were allocated between Micro Focus and the SUSE business (up to the date of disposal) based on identifiable segment specific costs with the remainder allocated based on other criteria including revenue and headcount. 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 1 Note $m $m $m Reconciliation to Adjusted EBITDA: (Loss)/profit before tax (34.1 ) 34.1 131.6 Finance costs 6 282.4 350.4 96.8 Finance income 6 (26.6 ) (7.7 ) (1.0 ) Depreciation of property, plant and equipment 12 66.5 88.6 9.7 Amortization of intangible assets 11 716.5 903.1 206.7 Exceptional items (reported in Operating profit) 4 294.2 538.2 97.2 Share-based compensation charge 33 68.8 64.3 31.5 Product development intangible costs capitalized 11 (16.5 ) (44.4 ) (27.6 ) Foreign exchange loss/(credit) 3 11.3 (37.4 ) (2.9 ) Adjusted EBITDA 1,362.5 1,889.2 542.0 1 |
Supplementary information (Tabl
Supplementary information (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Disclosure of Supplementary information [Abstract] | |
Analysis by Geography | The Group is domiciled in the UK. The Group’s total segmental revenue from external customers by geographical location is detailed below: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m UK 206.9 299.6 52.2 USA 1,523.0 2,279.8 551.5 Germany 220.7 309.5 86.8 France 123.3 195.5 43.2 Japan 108.6 145.8 42.4 Other 1,165.9 1,524.2 301.2 Total 3,348.4 4,754.4 1,077.3 |
Analysis of Revenue from Contracts with Customers | Analysis of revenue from contracts with customers 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $ $m $m Revenue from contracts with customers 3,348.4 4,754.4 1,077.3 Being: Recognized over time: Maintenance revenue 2,051.6 2,818.9 720.7 SaaS & other recurring revenue 278.9 365.1 - 2,330.5 3,184.0 720.7 Recognized at point in time: Licence revenue 800.0 1,206.1 308.4 Consulting revenue 217.9 364.3 48.2 1,017.9 1,570.4 356.6 Total revenue 3,348.4 4,754.4 1,077.3 |
Analysis of Revenue by Product | Set out below is an analysis of revenue from continuing operations recognized between the principal product portfolios for the 12 months ended October 31 2019, 18 months ended October 31 2018 and 12 months ended April 30, 2017. As a result of the acquisition of HPE Software business the Group’s product portfolios have been redefined. The comparatives for the 12 months ended April 30, 2017 have not been represented into the new product portfolios. 12 months ended October 31, 2019: Licence Maintenance Consulting SaaS & other recurring Total $m $m $m $m $m Application Modernization & Connectivity 170.9 326.1 11.7 - 508.7 Application Delivery Management 130.3 485.4 18.2 87.8 721.7 IT Operations Management 237.5 645.8 127.5 11.0 1,021.8 Security 185.7 416.7 43.9 35.0 681.3 Information Management & Governance 75.6 183.6 16.6 145.9 421.7 Subtotal 800.0 2,057.6 217.9 279.7 3,355.2 Deferred revenue haircut - (6.0 ) - (0.8 ) (6.8 ) Total Revenue 800.0 2,051.6 217.9 278.9 3,348.4 18 months ended October 31, 2018: Licence Maintenance Consulting SaaS & other recurring Total $m $m $m $m $m Application Modernization & Connectivity 256.3 497.6 17.9 - 771.8 Application Delivery Management 185.5 646.7 41.6 114.1 987.9 IT Operations Management 363.1 869.9 192.8 15.1 1,440.9 Security 291.6 580.2 81.4 41.6 994.8 Information Management & Governance 117.2 267.2 32.6 203.1 620.1 Subtotal 1,213.7 2,861.6 366.3 373.9 4,815.5 Deferred revenue haircut (7.6 ) (42.7 ) (2.0 ) (8.8 ) (61.1 ) Total Revenue 1,206.1 2,818.9 364.3 365.1 4,754.4 12 months ended April 30, 2017: Licence Maintenance Consulting SaaS & other recurring Total $m $m $m $m $m Application Modernization & Connectivity 106.0 149.7 9.5 - 265.2 Application Delivery Management 69.1 104.9 1.9 - 175.9 IT Operations Management 48.6 141.3 18.4 - 208.3 Security 55.5 219.6 13.8 - 288.9 Information Management & Governance 29.2 112.1 4.6 - 145.9 Subtotal 308.4 727.6 48.2 - 1,084.2 Deferred revenue haircut - (6.9 ) - - (6.9 ) Total Revenue 308.4 720.7 48.2 - 1,077.3 |
Profit before tax (Tables)
Profit before tax (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Disclosure of Profit before tax [Abstract] | |
Profit Before Tax | The (loss)/profit before tax is stated after charging/(crediting) the following operating costs/(gains) classified by the nature of the costs/(gains): 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Staff costs 33 1,409.0 2,095.0 480.7 Depreciation of property, plant and equipment: - owned assets 12 52.6 71.2 9.7 - leased assets 12 13.9 17.4 - Loss on disposal of property, plant and equipment 12 3.6 4.7 0.5 Amortization of intangibles 11 716.5 903.1 206.7 Inventories – cost of inventories recognized as a debit (included in cost of sales) 15 0.1 0.3 - Operating lease rentals payable: - plant and machinery 7.0 8.8 2.9 - property 58.9 85.3 18.4 Provision for receivables impairment 16 16.0 40.0 2.0 Foreign exchange gain on derivative financial instruments (6.9 ) - - Foreign exchange loss/(gain) 18.2 (37.4 ) (2.9 ) |
Exceptional items (Tables)
Exceptional items (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Exceptional items [Abstract] | |
Exceptional Items | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Reported within Operating profit: Note $m $m $m Integration costs 245.9 279.0 27.6 Pre-acquisition costs - 43.0 58.0 Acquisition costs 1.5 27.1 2.6 Property related costs 16.3 38.1 5.6 Severance and legal costs 32.1 129.7 3.4 Divestiture 2.1 21.3 - Gain on disposal of Atalla (3.7 ) - - 294.2 538.2 97.2 Reported within finance costs: Finance costs incurred in escrow period 6 - 6.4 - Reported within finance income: Finance income earned in escrow period 6 - (0.6 ) - - 5.8 - Exceptional costs before tax 294.2 544.0 97.2 Tax: Tax effect of exceptional items (54.3 ) (105.9 ) (11.6 ) Tax exceptional item - (692.3 ) - (54.3 ) (798.2 ) (11.6 ) Reported within profit from discontinued operation (attributable to equity shareholders of the Company): Gain on disposal of discontinued operation 37 (1,458.5 ) - - Exceptional profit after tax (1,218.6 ) (254.2 ) 85.6 |
Services provided by the Grou_2
Services provided by the Group's auditors and network of firms (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Services provided by the Group's auditors and network of firms [Abstract] | |
Services from the Group's Auditors and Network of Firms | During the 12 months ended October 31, 2019, the Group obtained the following services from the Group’s auditors as detailed below which have been disclosed in line with the ICAEW Technical Release “Tech 14/13 FRF” guidance on the disclosure of auditor remuneration for the audit of accounts and other (non-audit) services, in accordance with the requirements of the Companies (Disclosure of Auditor Remuneration and Liability Agreements) Regulation 2008 (Statutory Instrument 2008/489) as amended: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Audit of Company 12.8 12.2 1.0 Audit of subsidiaries 3.9 1.9 2.5 Total audit 16.7 14.1 3.5 Audit related assurance services 3.6 0.9 2.6 Other assurance services - 0.7 - Total assurance services 3.6 1.6 2.6 Tax compliance services - 0.2 - Tax advisory services 0.1 0.2 0.1 Services relating to taxation 0.1 0.4 0.1 Other non-audit services - 0.1 7.5 Total 20.4 16.2 13.7 |
Finance income and finance co_2
Finance income and finance costs (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Finance income and finance costs [Abstract] | |
Finance Income and Finance Costs | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Finance costs Interest on bank borrowings 225.4 276.5 81.2 Commitment fees 1.9 3.3 0.8 Amortization of facility costs and original issue discounts 46.7 60.4 14.2 Finance costs on bank borrowings 274.0 340.2 96.2 Net interest expense on retirement obligations 25 2.4 2.8 0.6 Finance lease expense 2.0 2.7 - Interest rate swaps: cash flow hedges, transfer from equity - 3.4 - Other 4.0 1.3 - Total 282.4 350.4 96.8 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Finance income Bank interest 16.3 3.6 0.4 Interest on non-plan pension assets 25 0.3 0.6 0.4 Interest rate swaps: cash flow hedges, transfer to equity 9.9 - - Other 0.1 3.5 0.2 Total 26.6 7.7 1.0 Net finance cost 255.8 342.7 95.8 Included within exceptional items Finance costs incurred in escrow period 4 - 6.4 - Finance income earned in escrow period 4 - (0.6 ) - - 5.8 - |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Taxation [Abstract] | |
Income Tax | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Current tax Current period 163.9 245.8 33.9 Adjustments to tax in respect of previous periods (35.3 ) (14.7 ) 1.7 128.6 231.1 35.6 Deferred tax Origination and reversal of temporary differences (139.7 ) 26.4 (22.4 ) Adjustments to tax in respect of previous periods 24.5 1.2 (4.4 ) Previously unrecognized temporary differences (29.4 ) - - Impact of change in tax rates - (931.8 ) (1.3 ) (144.6 ) (904.2 ) (28.1 ) Total tax (credit)/expense (16.0 ) (673.1 ) 7.5 |
Reconciliation of Income Tax Provision | The tax charge for the 12 months ended October 31, 2019 is higher than the standard rate of corporation tax in the UK of 19.00% (18 months ended October 31, 2018: 19.00%; 12 months ended April 30, 2017: 19.92%). The differences are explained below: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m (Loss)/profit before taxation (34.1 ) 34.1 131.6 Tax at UK corporation tax rate 19.00% (2018: 19.00%; 2017: 19.92%) (6.5 ) 6.5 26.0 Effects of: Tax rates other than the UK standard rate (4.4 ) 17.8 0.6 Intra-Group financing (42.8 ) (52.5 ) (15.7 ) Interest restrictions - 31.8 - Innovation tax credit benefits (13.5 ) (21.4 ) (9.8 ) US foreign inclusion income 43.7 39.0 0.4 US transition tax - 238.3 - Share options 7.1 10.2 - Movement in deferred tax not recognized 14.4 7.3 0.2 Previously unrecognized temporary differences (29.4 ) - - Effect of change in tax rates - (931.9 ) (1.3 ) Expenses not deductible and other permanent differences 26.2 (4.7 ) 9.8 (5.2 ) (659.6 ) 10.2 Adjustments to tax in respect of previous periods: Current tax (35.3 ) (14.7 ) 1.7 Deferred tax 24.5 1.2 (4.4 ) (10.8 ) (13.5 ) (2.7 ) Total taxation (16.0 ) (673.1 ) 7.5 |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Dividends [Abstract] | |
Dividends | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Equity - ordinary $m $m $m Final paid 58.33 cents (2018: 58.33 cents, 2017: 49.74 cents) per ordinary share 240.7 133.9 111.0 First Interim paid 58.33 cents (2018: 34.60 cents; 2017: 29.73 cents) per ordinary share 198.5 156.2 66.5 Second Interim paid nil cents (2018: 58.33 cents; 2017: nil cents) per ordinary share - 252.1 - 439.2 542.2 177.5 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Earnings per share [Abstract] | |
Reconciliation of Earnings and Weighted Average Number of Shares | Reconciliation of the earnings and weighted average number of shares: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Earnings ($m) (Loss)/profit for the period from continuing operations (18.1 ) 707.2 124.1 Profit for the period from discontinued operation 1,487.2 76.9 33.7 1,469.1 784.1 157.8 Number of shares (m) Weighted average number of shares 378.1 388.7 229.2 Dilutive effects of shares 4.1 11.0 8.2 382.2 399.7 237.4 Earnings per share Basic earnings per share (cents) Continuing operations (4.87 ) 181.91 54.17 Discontinued operation 393.37 19.79 14.71 Total Basic earnings per share 388.50 201.70 68.88 Diluted earnings per share (cents) Continuing operations 1 (4.87 ) 176.92 52.31 Discontinued operation 389.16 19.25 14.20 Total Diluted earnings per share 1 384.35 196.17 66.51 Basic earnings per share (pence) Continuing operations (3.82 ) 136.73 41.88 Discontinued operation 308.89 14.88 11.37 Total Basic earnings per share 305.07 151.61 53.25 Diluted earnings per share (pence) Continuing operations 1 (3.82 ) 132.98 40.44 Discontinued operation 305.59 14.47 10.98 Total Diluted earnings per share 1 301.81 147.45 51.42 Earnings attributable to ordinary shareholders From continuing operations (18.1 ) 707.2 124.1 Excluding non-controlling interests (0.3 ) (0.1 ) 0.1 (Loss)/profit for the period from continuing operations (18.4 ) 707.1 124.2 From discontinued operation 1,487.2 76.9 33.7 1,468.8 784.0 157.9 Average exchange rate $ 1.27/£1 $ 1.33/£1 $ 1.29/£1 1 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Goodwill [Abstract] | |
Goodwill Acquisition | October 31, 2019 October 31, 2018 Note $m $m Cost and net book amount At November 1 /May 1 6,805.0 2,828.6 Acquisitions 38 26.8 4,863.9 Effects of movements in exchange rates (160.5 ) - Reclassification to assets held for sale 37 - (887.5 ) 6,671.3 6,805.0 A segment-level summary of the goodwill allocation is presented below: Micro Focus 6,671.3 6,805.0 |
Key Assumption of Goodwill | The medium-term annual revenue growth rate by product group, long-term cash flow growth rate and discount rate used in the VIU calculation are: 2019 2018 Long-term cash flow growth rate 1.0 % 1.0 % Pre-tax discount rate 1 10.3 % 9.7 % Medium term annual revenue growth rate by product group 2 (2.0)% to 2.1 % - 1 2 |
Other intangible assets (Tables
Other intangible assets (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Other intangible assets [Abstract] | |
Other Intangible Assets | Purchased intangibles Purchased software Product development costs Technology Trade names Customer relationships Lease contracts Total Note $m $m $m $m $m $m $m Cost At November 1, 2018 141.1 259.1 2,158.5 267.7 5,377.2 15.0 8,218.6 Acquisitions – Interset Software Inc. 38 - - 44.5 4.2 12.5 - 61.2 Additions 12.3 16.5 - - - - 28.8 Additions – external consultants - 0.5 - - - - 0.5 Disposals (7.4 ) (19.1 ) - - - - (26.5 ) Effects of movements in exchange rates 0.7 - (24.4 ) (4.6 ) (66.4 ) (0.1 ) (94.8 ) At October 31, 2019 146.7 257.0 2,178.6 267.3 5,323.3 14.9 8,187.8 Accumulated amortization At November 1, 2018 50.1 206.7 478.9 48.9 801.5 3.2 1,589.3 Amortization charge for the period 34.1 26.7 200.1 20.9 424.8 9.9 716.5 Disposals (7.4 ) (19.1 ) - - - - (26.5 ) Effects of movements in exchange rates 0.1 - (10.1 ) (1.8 ) (22.0 ) - (33.8 ) At October 31, 2019 76.9 214.3 668.9 68.0 1,204.3 13.1 2,245.5 Net book amount at October 31, 2019 69.8 42.7 1,509.7 199.3 4,119.0 1.8 5,942.3 Net book amount at October 31, 2018 91.0 52.4 1,679.6 218.8 4,575.7 11.8 6,629.3 During the period, the estimated useful life of certain purchased software was revised. The net effect of the changes in the current financial period was an increase in amortization expense by $8.9m. Purchased intangibles Purchased software Product development costs Technology Trade Customer relationships Lease contracts Total Note $m $m $m $m $m $m $m Cost At May 1, 2017 24.6 213.8 398.9 239.6 972.4 - 1,849.3 Continuing operations: Acquisitions - HPE Software business 38 72.8 - 1,809.0 163.0 4,480.0 15.0 6,539.8 Acquisitions – COBOL-IT 38 - - 1.5 0.2 12.3 - 14.0 Acquisitions – Covertix 38 2.5 - - - - - 2.5 Additions 46.8 44.4 - - - - 91.2 Additions – external consultants - 0.9 - - - - 0.9 Effects of movements in exchange rates (0.4 ) - - - - - (0.4 ) Discontinued operation: Reclassification to current assets classified as held for sale 37 (5.2 ) - (50.9 ) (135.1 ) (87.5 ) - (278.7 ) At October 31, 2018 141.1 259.1 2,158.5 267.7 5,377.2 15.0 8,218.6 Accumulated amortization At May 1, 2017 21.0 164.7 223.0 38.8 312.5 - 760.0 Continuing operations: Amortization charge for the period 30.7 42.0 280.5 26.7 520.0 3.2 903.1 Effects of movements in exchange rates (0.9 ) - - - - - (0.9 ) Discontinued operation: Amortization charge for the period 0.8 - 13.4 9.1 16.9 - 40.2 Reclassification to current assets classified as held for sale 37 (1.5 ) - (38.0 ) (25.7 ) (47.9 ) - (113.1 ) At October 31, 2018 50.1 206.7 478.9 48.9 801.5 3.2 1,589.3 Net book amount at October 31, 2018 91.0 52.4 1,679.6 218.8 4,575.7 11.8 6,629.3 Net book amount at April 30, 2017 3.6 49.1 175.9 200.8 659.9 - 1,089.3 |
Other Intangible Assets Included in Comprehensive Income | Included in the Consolidated statement of comprehensive income for the 12 months ended October 31, 2019 and the 18 months ended October 31, 2018 was: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 For continuing operations: $m $m $m Cost of sales: - amortization of product development costs 26.7 42.0 22.4 - amortization of acquired purchased technology 200.1 280.5 59.0 Selling and distribution: - amortization of acquired purchased trade names, customer relationships and lease contracts 455.6 549.9 124.2 Administrative expenses: - amortization of purchased software 34.1 30.7 1.1 Total amortization charge for the period 716.5 903.1 206.7 Research and development: - capitalization of product development costs 16.5 44.4 27.7 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Property, plant and equipment [Abstract] | |
Property, Plant and Equipment | Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total Note $m $m $m $m $m Cost At November 1, 2018 14.3 79.2 103.3 29.1 225.9 Acquisition – Interset Software Inc. 38 - - 0.2 0.1 0.3 Additions - 37.7 24.6 3.0 65.3 Disposals - (3.6 ) (3.0 ) - (6.6 ) Reclassification - - 19.8 (19.8 ) - Effects of movements in exchange rates (0.3 ) 0.2 (0.5 ) 0.8 0.2 At October 31, 2019 14.0 113.5 144.4 13.2 285.1 Accumulated depreciation At November 1, 2018 2.2 34.3 36.6 8.5 81.6 Charge for the period 0.3 18.8 46.1 1.3 66.5 Disposals - (1.7 ) (1.3 ) - (3.0 ) Reclassification - - 4.6 (4.6 ) - Effects of movements in exchange rates (0.3 ) 0.3 (0.9 ) 0.4 (0.5 ) At October 31, 2019 2.2 51.7 85.1 5.6 144.6 Net book amount at October 31, 2019 11.8 61.8 59.3 7.6 140.5 Net book amount at November 1, 2018 12.1 44.9 66.7 20.6 144.3 Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total Note $m $m $m $m $m Cost At May 1, 2017 14.3 27.3 32.6 6.0 80.2 Continuing operations: Acquisition – HPE Software business 38 - 56.5 79.5 24.1 160.1 Acquisition – COBOL-IT 38 - - 0.1 - 0.1 Additions - 10.4 33.3 6.4 50.1 Disposals - (7.5 ) (27.1 ) (4.6 ) (39.2 ) Effects of movements in exchange rates - (3.4 ) (8.2 ) (2.5 ) (14.1 ) Discontinued operation: Additions - - 2.0 - 2.0 Disposals - - (0.1 ) - (0.1 ) Effects of movements in exchange rates - - 0.3 - 0.3 Reclassification to current assets classified as held for sale 37 - (4.1 ) (9.1 ) (0.3 ) (13.5 ) At October 31, 2018 14.3 79.2 103.3 29.1 225.9 Accumulated depreciation At May 1, 2017 1.8 12.7 22.1 2.7 39.3 Continuing operations: Charge for the period 0.4 26.3 50.7 11.2 88.6 Disposals - (4.0 ) (26.9 ) (3.7 ) (34.6 ) Effects of movements in exchange rates - (1.3 ) (6.4 ) (2.9 ) (10.6 ) Discontinued operation: Charge for the period - 2.7 2.6 1.3 6.6 Disposals - - - - - Effects of movements in exchange rates - - 0.1 - 0.1 Reclassification to current assets classified as held for sale 37 - (2.1 ) (5.6 ) (0.1 ) (7.8 ) At October 31, 2018 2.2 34.3 36.6 8.5 81.6 Net book amount at October 31, 2018 12.1 44.9 66.7 20.6 144.3 Net book amount at May 1, 2017 12.5 14.6 10.5 3.3 40.9 |
Related undertakings (Tables)
Related undertakings (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Related undertakings [Abstract] | |
Details of Subsidiaries | All undertakings in which the Group has an equity interest of greater than 50% are considered as subsidiary undertakings for the purpose of this note: Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 1 Attachmate Australasia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 2 Attachmate Group Australia Pty Limited Australia Ordinary Shares Sale and support of software 1 3 Autonomy Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 4 Autonomy Systems Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 5 Borland Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 6 Entco Australia Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 7 Micro Focus Australia Pty Ltd (formerly Entcorp Australia Pty Limited) Australia Ordinary Shares AU$1.00 Sale and support of software 1 8 Micro Focus Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 9 Serena Software Pty Limited Australia Ordinary Shares AU$1.00 Sale and support of software 1 10 Borland Entwicklung GmbH Austria Registered capital Development of software 2 11 Autonomy Belgium BVBA Belgium Ordinary Shares Sale and support of software 3 12 Micro Focus Belgium BV (formerly Entco Belgium BVBA) Belgium Ordinary Shares Sale and support of software 3 13 Micro Focus Srl (formerly Micro Focus SPRL) Belgium Ordinary Shares Sale and support of software 4 14 Borland Latin America Ltda Brazil Quota RS$1.00 Sale and support of software 5 15 Cambridge Technology Partners do Brasil s.c. Ltda Brazil Quota RS$1.00 Dormant 5 16 Micro Focus Brasil Serviços de Tecnologia Ltda (formerly Entco Brasil Serviços de Tecnologia Ltda) Brazil Quota RS$1.00 Sale and support of software 5 17 Micro Focus Programmeação de Computadores Ltda Brazil Quota RS$1.00 Sale and support of software 5 18 Peregrinne Systems do Brasil Limitada Brazil Quota RS$1.00 Sale and support of software 6 19 Serena Software Do Brasil Ltda Brazil Quota RS$1.00 Sale and support of software 7 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 20 Verity Worldwide Limited British Virgin Islands Ordinary Shares US$50,000.00 Sale and support of software 8 21 Micro Focus APM Solutions Limited (EOOD) Bulgaria Ordinary Shares BGN1,000.00 Development of software 9 22 Micro Focus Bulgaria EOOD (formerly Entco Bulgaria EOOD) Bulgaria Ordinary Shares BGN1.00 Sale and support of software 10 23 Autonomy Systems (Canada) Limited Canada Class A Common Stock Sale and support of software 11 24 Borland Canada Software ULC Canada Common Shares Dormant 12 25 Entcorp Canada, Inc. Canada Common Stock Sale and support of software 13 26 GWAVA ULC (formerly GWAVA Inc.) Canada Common Stock Holding Company 12 27 Interset Software Inc. Canada Class A Preferred Shares Class B Preferred Shares Class B-1 Preferred Shares Class B-2 Preferred Shares Common Shares Sale and support of software 14 28 Micro Focus (Canada) ULC Canada Common Shares Development, sale and support of software 12 29 Micro Focus Acquisition ULC Canada Common Shares Holding Company 15 30 Micro Focus Software (Canada), ULC Canada Common Shares Sale and support of software 16 31 Micro Focus Software Solutions Canada Co. / Solutions Logiciels Micro Focus Canada Cie. (formerly Entco Software Canada Co. Logiciels Entco Canada Cie) Canada Common Shares Sale and support of software 17 32 NetManage Canada ULC Canada Common Shares Dormant 12 33 Entco Bellatrix HoldCo Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 34 Entco Capital Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 35 Entco Investment Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 36 Micro Focus International Limited Cayman Islands Class A Ordinary Shares US$0.00001 Class B Ordinary Shares US$0.00001 Class C Ordinary Shares US$0.00001 Class L Ordinary Shares US$0.00001 Dormant 18 37 Micro Focus IP Limited Cayman Islands Class A Ordinary Shares €0.01 Class B Preferred Redeemable Shares €0.01 Holding Company 18 38 Entco Marigalante Limited Cayman Islands Ordinary Shares US$1.00 Sale and support of software 18 39 Autonomy Systems (Beijing) Limited Company China Registered Capital Sale and support of software 19 40 Borland Software Corporation Beijing Representative Office China Branch In liquidation 104 41 Shanghai Entco Software Technology Co., Limited China Registered Capital Sale and support of software 20 42 Shanghai Entco Software Technology Co., Limited, Beijing Branch China Branch Sale and support of software 21 43 Shanghai Entco Software Technology Co., Limited, Chongqing Branch China Branch Sale and support of software 22 44 Shanghai Entco Software Technology Co., Limited, Shenzhen Branch China Branch Sale and support of software 23 45 Singapore Micro Focus Pte Ltd Shanghai Representative Office China Branch Sale and support of software 24 46 UK Micro Focus Limited Beijing Representative Office China Branch Sale and support of software 25 47 Micro Focus CentroAmerica CAC Limiteda (formerly Entco CentroAmerica CAC Limitada) Costa Rica Quota CRC1,000.00 Sale and support of software 26 48 Micro Focus Costa Rica Limiteda (formerly Entco Costa Rica Limitada) Costa Rica Quota CRC1,000.00 Sale and support of software 26 49 NetIQ Software International Limited Cyprus Ordinary Shares of C£1.00 Dormant 103 50 Micro Focus Czechia s.r.o (formerly Entco Czechia, s.r.o.) Czech Republic Registered Capital Sale and support of software 27 51 NOVL Czech s.r.o. Czech Republic Registered Capital Dormant 28 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 52 Micro Focus Denmark, filial af Micro Focus AS, Norge (Branch) Denmark Branch Sale and support of software 29 53 Micro Focus Software Denmark ApS (formerly Entco Denmark ApS) Denmark Ordinary Shares DKK1.00 Sale and support of software 29 54 Attachmate Middle East LLC Egypt Cash Shares LE100.00 In liquidation 105 55 Micro Focus AS, Filial i Finland (Branch) Finland Branch Sale and support of software 30 56 Attachmate Group France SARL France Ordinary Shares €16.00 Sale and support of software 31 57 Borland (France) Sarl France Ordinary Shares €15.25 Sale and support of software 31 58 Cobol-IT, SAS France Ordinary Shares €1.00 Sale and support of software 31 59 Micro Focus France SAS (formerly Entco France SAS) France Ordinary Shares €1.00 Sale and support of software 32 60 Micro Focus SAS France Ordinary Shares €10.00 Sale and support of software 31 61 Attachmate Group Germany GmbH Germany Ordinary Shares €191,000.00 Sale and support of software 33 62 Borland GmbH Germany Ordinary Shares €49,500.00 Ordinary Shares €450,000.00 Ordinary Shares €100,000.00 Ordinary Shares €500.00 Dormant 33 63 GWAVA EMEA GmbH Germany Registered Capital Sale and support of software 34 64 Micro Focus Deutschland GmbH (formerly Entco Deutschland GmbH) Germany Registered Capital Sale and support of software 35 65 Micro Focus GmbH Germany Registered Capital Sale and support of software 33 66 Novell Holdings Deutschland GmbH Germany Registered Capital Holding Company 36 67 Serena Software GmbH Germany Registered Capital Sale and support of software 37 68 Attachmate (Hong Kong) Limited Hong Kong Ordinary Shares HK$1.00 Dormant 38 69 Borland (H.K.) Limited Hong Kong Ordinary Shares HK$1.00 Dormant 38 70 EntCorp Hong Kong Limited Hong Kong Ordinary Shares HK$1.00 Sale and support of software 39 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 71 Micro Focus Limited Hong Kong (Branch) Hong Kong Branch Sale and support of software 38 72 Micro Focus Software HK Limited (formerly Attachmate Group Hong Kong Limited) Hong Kong Ordinary Shares HK$10.00 Sale and support of software 38 73 NetIQ Asia Ltd. Hong Kong Ordinary Shares HK$1.00 Dormant 38 74 Autonomy Software Asia Private Limited India Equity Shares INR10.00 Sale and support of software 40 75 Borland Software India Private Limited India Equity Shares INR10.00 Dormant 41 76 Entco IT Services Private Limited India Equity Shares INR10.00 Sale and support of software 42 77 Interwoven, Inc., India Branch India Branch Sale and support of software 43 78 Micro Focus India Private Limited India Equity Shares INR10.00 Support of software 41 79 Micro Focus Software India Private Limited India Equity Shares INR10.00 Development, sale and support of software 41 80 Micro Focus Software Solutions Private Limited (formerly Entco Software India Private Limited) India Equity Shares INR10.00 Sale and support of software 44 81 Novell India Private Ltd. India Equity Shares INR10.00 Dormant 45 82 Relativity Technologies Private Limited India Equity Shares INR10.00 Sale and support of software 41 83 Attachmate Ireland Limited Ireland Ordinary Shares €1.27 Sale and support of software 46 84 Entsoft Holding Ireland Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 46 85 Micro Focus (IP) Ireland Limited Ireland Ordinary Shares US$1.00 Dormant 47 86 Micro Focus (Ireland 1) Limited (formerly SUSE Linux Holdings Limited) Ireland Ordinary Shares US$1.00 Holding Company 47 87 Micro Focus (Ireland 2) Limited (formerly SUSE Linux Ireland Limited) Ireland Ordinary Shares US$1.00 Dormant 47 88 Micro Focus Finance Ireland Limited Ireland Ordinary Shares US$1.00 Holding Company 48 89 Micro Focus Galway Limited (formerly Entsoft Galway Limited Ireland Ordinary Shares €1.00 Sale and support of software 46 90 Micro Focus Group Holdings Unlimited Company Ireland Ordinary Shares €1.00 Holding Company 47 91 Micro Focus International Holdings Limited Ireland Ordinary Shares €1.00 Holding Company 47 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 92 Micro Focus Ireland Limited Ireland Ordinary Shares €1.00 Development, sale and support of software 47 93 Micro Focus Software (Ireland) Limited Ireland Ordinary Shares €1.25 Ordinary Shares US$1.00 Development, sale and support of software 48 94 Micro Focus Software Solutions Ireland Limited (formerly Entsoft Ireland Limited) Ireland Ordinary Shares €1.00 Sale and support of software 46 95 NetIQ Europe Limited Ireland Ordinary Shares €1.00 Sale and support of software 46 96 NetIQ Ireland Limited Ireland Ordinary Shares €1.00 Holding Company 47 97 Novell Cayman Software International Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 47 98 Novell Cayman Software Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 47 99 Novell Ireland Real Estate Unlimited Company Ireland Ordinary Shares €1.25 A Ordinary Shares €1.25 Holding Company 47 100 Novell Software International Limited Ireland Ordinary Shares US$1.00 Holding Company 47 101 Micro Focus Interactive Israel Ltd (formerly Entco Interactive (Israel) Limited) Israel Ordinary Shares of NIS1.00 Sale and support of software 49 102 Micro Focus Israel Limited Israel Ordinary Shares NIS1.00 Development and support of software 50 103 Micro Focus Software Israel Ltd (formerly Entcorp Software Israel Limited) Israel Ordinary Shares NIS1.00 Sale and support of software 49 104 N.Y. NetManage (Yerushalayim) Ltd Israel Ordinary Shares NIS1.00 Dormant 51 105 Novell Israel Software International Limited Israel Ordinary Shares NIS1.00 In liquidation 106 106 Enterprise Corp Italiana S.r.l. Italy Registered Capital Sale and support of software 52 107 Micro Focus Italiana S.r.l. (formerly Entco Italiana Srl Italy Registered Capital Sale and support of software 53 108 Micro Focus Srl Italy Registered Capital Sale and support of software 53 109 Serena Software Europe Limited - Italy Branch Italy Branch Sale and support of software 53 110 Verity Italia S.r.l. Italy Registered Capital Sale and support of software 54 111 Entcorp Japan K.K. Japan Ordinary Shares Sale and support of software 55 112 Micro Focus Enterprise Ltd Japan Ordinary Shares Sale and support of software 56 113 Micro Focus LLC (formerly Micro Focus KK) Japan Interest in capital Sale and support of software 56 Company name Country of Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 114 Novell Japan, Ltd Japan Common Stock Sale and support of software 56 115 Serena Software Japan LLC (formerly Serena Software Japan KK) Japan Interest in Capital Sale and support of software 56 116 Micro Focus Korea Limited South Korea Units KRW5000 Sale and support of software 57 117 Serena Software Europe Limited - Korea Branch South Korea Branch Sale and support of software 58 118 Micro Focus Finance S.à r.l. Luxembourg Ordinary Shares US$1.00 In liquidation 59 119 Micro Focus Luxembourg S.à r.l. (formerly Entco Luxembourg Sarl) Luxembourg Ordinary Shares Sale and support of software 59 120 Minerva Finance S.à r.l. Luxembourg Ordinary Shares US$1.00 In liquidation 59 121 Verity Luxembourg S.à r.l. Luxembourg Ordinary Shares €25.00 Sale and support of software 60 122 Micro Focus Malaysia Sdn. Bhd. (formerly Entco Software Malaysia Sdn. Bhd.) Malaysia Ordinary Shares RM1,000.00 Sale and support of software 61 123 Novell Corporation (Malaysia) Sdn. Bhd. Malaysia Ordinary Shares RM1.00 Sale and support of software 62 124 Micro Focus International Mexico, S. de R.L. de C.V. (formerly Entco México, S. de R.L. de C.V. ) Mexico Equity Interest Quota MXN1.00 Sale and support of software 63 125 Micro Focus Limited Mexico (Branch) Mexico Branch Sale and support of software 64 126 Micro Focus Software Mexico, S. De R.L. De C.V. (formerly Entco Software México, S. de R.L. de C.V.) Mexico Equity Interest Quota MXN1.00 Sale and support of software 63 127 Micro Focus Software Solutions Mexico, S. de R.L. de C.V. (formerly Entcorp Software México, S. de R.L. de C.V.) Mexico Equity Interest Quota MXN1.00 Sale and support of software 63 128 Attachmate Group Netherlands B.V. Netherlands Ordinary Shares €100.00 Sale and support of software 65 129 Authasas Advanced Authentication B.V. Netherlands Ordinary Shares €1.00 Dormant 65 130 Authasas B.V Netherlands Ordinary Shares A €1.00 Ordinary Shares B €1.00 Sale and support of software 65 131 Autonomy HoldCo B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 65 132 Autonomy Netherlands BV Netherlands Common Shares €100.00 Sale and support of software 65 133 Borland BV Netherlands Ordinary Shares €5.00 Sale and support of software 65 134 Entco Eastern Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 135 Entco Gatriam Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 136 Entco HoldCo I B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 137 Entco HoldCo II B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 138 Entco HoldCo III B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 139 Entco HoldCo IV B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 140 Entco Holding Berlin B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 141 Entco Holding Hague II B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 142 Entco Sinope Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 65 143 Entcorp Nederland B.V. Netherlands Ordinary Shares €100.00 Sale and support of software 65 144 Micro Focus B.V. Netherlands Common Shares €100.00 Sale and support of software 65 145 Micro Focus Caribe Holding B.V. (formerly Entco Caribe B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 146 Micro Focus Eastern Holding II B.V. (formerly Entco Eastern Holding II B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 147 Micro Focus Enterprise B.V. (formerly Entco Enterprise B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 148 Micro Focus HoldCo B.V. (formerly Entco HoldCo B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 149 Micro Focus Holding Finance B.V. (formerly Entco Holding Finance B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 150 Micro Focus Holding Hague B.V. (formerly Entco Holding Hague B.V.) Netherlands Ordinary Shares US$100.00 Holding Company 65 151 Micro Focus Holding PR B.V. (formerly Entco Puerto Rico B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 152 Micro Focus International Trade B.V. (formerly Entco International Trade B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 153 Micro Focus Nederland B.V. (formerly Entco Nederland B.V.) Netherlands Ordinary Shares US$100.00 Sale and support of software 65 154 Verity Benelux B.V. Netherlands Common Shares of €500.00 Sale and support of software 65 155 Micro Focus Software (New Zealand) Unlimited New Zealand Ordinary Shares Sale and support of software 66 156 Micro Focus AS Norway Ordinary Shares NOK1,602.00 Sale and support of software 67 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 157 Entcorp Philippines, Inc. Philippines Common Stock PHP1.00 Sale and support of software 68 158 Micro Focus Polska sp. z o.o. (formerly Entco Polska sp. z.o.o.) Poland Ordinary Shares PLN500.00 Sale and support of software 69 159 Micro Focus S.L. - Sucursal Em Portugal (Branch) Portugal Branch Sale and support of software 70 160 Novell Portugal - Informática Lda Portugal Ordinary Shares €14,864.18 Ordinary Shares €99.76 Sale and support of software 71 161 Micro Focus Caribe Holding B.V. LLC Branch (formerly Entco Caribe B.V. LLC ) Puerto Rico Branch Sale and support of software 72 162 Micro Focus Holding PR B.V. LLC Branch (formerly Entco Puerto Rico B.V. LLC ) Puerto Rico Branch Sale and support of software 73 163 Micro Focus Software Romania SRL (formerly Entco Software Romania SRL) Romania Ordinary Shares RON10.00 Sale and support of software 74 164 Limited Liability Company Micro Focus (formerly Limited Liability Company Entco) Russian Federation Interest in Capital Sale and support of software 75 165 Micro Focus LLC Saudi Arabia Ordinary Shares SAR50 Sale and support of software 76 166 Autonomy Systems Singapore Pte. Ltd. Singapore Ordinary Shares Sale and support of software 77 167 Borland (Singapore) Pte. Ltd. Singapore Ordinary Shares Sale and support of software 78 168 Entco Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 77 169 Mercury Interactive (Singapore) Pte Ltd Singapore Ordinary Shares In liquidation 107 170 Micro Focus Pte. Ltd. Singapore Ordinary Shares Sale and support of software 78 171 Micro Focus Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 77 172 Autonomy Systems Software South Africa Pty Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 79 173 Micro Focus Software South Africa (Pty) Ltd (formerly Attachmate Group South Africa (Pty) Limited South Africa Ordinary Shares ZAR1.00 Sale and support of software 80 174 Micro Focus South Africa (Pty) Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 80 175 Micro Focus Field Delivery Spain, S.L.U. (formerly Entco Field Delivery Spain, S.L.U.) Spain Ordinary Shares €1.00 Sale and support of software 81 176 Micro Focus S.L.U. Spain Registered Shares €9.00 Sale and support of software 82 177 Micro Focus Software Spain S.L.U. (formerly Entco Software Spain S.L.U.) Spain Ordinary Shares €1.00 Sale and support of software 81 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 178 Serena Software SA Spain Ordinary Shares €546.92 Sale and support of software 83 179 Micro Focus AS, Norge, filial i Sverige (Branch) Sweden Branch Sale and support of software 84 180 Micro Focus Sverige AB (formerly Entco Sverige AB) Sweden Quota SEK1.00 Sale and support of software 84 181 Micro Focus Enterprise B.V., Amstelveen, Versoix Branch Switzerland Branch Sale and support of software 85 182 Micro Focus GmbH Switzerland Quotas CHF100.00 Sale and support of software 86 183 Micro Focus International Suisse Sàrl (formerly Entco International Sàrl ) Switzerland Ordinary Shares CHF1,000.00 Sale and support of software 85 184 Micro Focus Schweiz GmbH (formerly Entco Schweiz GmbH ) Switzerland Ordinary Shares CHF100.00 Sale and support of software 86 185 Serena Software GmbH- Swiss Branch Switzerland Branch Sale and support of software 87 186 Trilead GmbH Switzerland Ordinary Shares CHF100.00 Sale and support of software 88 187 Interwoven, Inc., Taiwan Branch Taiwan Branch Sale and support of software 89 188 Novell (Taiwan) Co., Ltd. Taiwan Ordinary Shares NT$10.00 Sale and support of software 90 189 Micro Focus Enterprise Tunisia SARL Tunisia Ordinary Shares TND10.00 Sale and support of software 91 190 Micro Focus Teknoloji Çözümleri Limited Şirketi (formerly Entco Turkey Teknoloji Çözümleri Limited Şirketi) Turkey Ordinary Shares TRY25.00 Sale and support of software 92 191 Serena Software Ukraine LLC Ukraine Interest in Capital Sale and support of software 93 192 Entco International SARL-Abu Dhabi - Branch United Arab Emirates Branch Sale and support of software 94 193 Entco International SARL-Jebel Ali Free Zone - Branch United Arab Emirates Branch Sale and support of software 95 194 Entco Software Services Middle East FZ-LLC United Arab Emirates Ordinary Shares AED1,000.00 Sale and support of software 96 195 Attachmate Sales UK Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 196 Autonomy Digital Limited United Kingdom Ordinary Shares £1.00 In liquidation 108 197 Autonomy Systems Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 98 198 Borland (Holding) UK Ltd United Kingdom Ordinary Shares £1.00 Dormant 97 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 199 Borland (UK) Limited United Kingdom Ordinary Shares £1.00 Dormant 97 200 Entcorp Marigalante UK Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 98 201 Interwoven UK Limited United Kingdom Ordinary Shares £1.00 In liquidation 108 202 Longsand Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 98 203 Merant Holdings United Kingdom Ordinary Shares £1.00 Holding Company 97 204 Meridio Limited United Kingdom Ordinary Shares £1.00 In liquidation 109 205 Micro Focus (IP) Holdings Limited United Kingdom Ordinary Shares US$1.00 Dormant 97 206 Micro Focus (IP) Ltd United Kingdom Ordinary Shares £1.00 Holding Company 97 207 Micro Focus (US) Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 97 208 Micro Focus APM Solutions Limited United Kingdom Ordinary Shares £1.00 In liquidation 97 209 Micro Focus CHC Limited United Kingdom Ordinary Shares US$0.01 Redeemable Preference Shares US$1.00 C Preference Shares US$1.00 Holding Company 97 210 Micro Focus Foreign HoldCo Ltd (formerly Entco Foreign HoldCo Ltd) United Kingdom Ordinary Shares £1.00 Holding Company 98 211 Micro Focus Global Limited (formerly Novell U.K. Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 212 Micro Focus Group Limited United Kingdom Ordinary Shares £1.00 Holding Company 97 213 Micro Focus Holdings Unlimited United Kingdom Ordinary Shares £0.01 Holding Company 97 214 Micro Focus Integration Holdings Limited United Kingdom Ordinary Shares US$1.00 Holding Company 97 215 Micro Focus Integration Limited United Kingdom Ordinary Shares US$1.00 Sale and support of software 97 216 Micro Focus IP Development Limited United Kingdom Ordinary Shares US$1.00 Development and support of software 97 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 217 Micro Focus Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 218 Micro Focus MHC Limited United Kingdom A Ordinary Shares £0.00001 B Ordinary Shares £0.00001 Holding Company 97 219 Micro Focus Midco Holdings Limited United Kingdom Ordinary Shares US$0.01 Holding Company 97 220 Micro Focus Midco Limited United Kingdom Ordinary Shares US$0.0001 Holding Company 97 221 Micro Focus Situla Holding Ltd (formerly Entco Situla Holding Ltd) United Kingdom Ordinary Shares £1.00 Holding Company 98 222 Micro Focus Software (IP) Holdings Limited United Kingdom Ordinary Shares US$0.01 Preferred Shares US$1.00 Holding Company 97 223 Micro Focus Software Holdings Ltd (formerly Novell UK Software Limited) United Kingdom Ordinary Shares £1.00 Sale and support of software 97 224 Micro Focus Software UK Ltd (formerly Entcorp UK Ltd ) United Kingdom Ordinary Shares £1.00 Sale and support of software 98 225 Micro Focus UK Limited United Kingdom Ordinary Shares £1.00 Dormant 97 226 NetIQ Limited United Kingdom Ordinary Shares £1.00 Dormant 97 227 Ryan McFarland Limited United Kingdom Ordinary Shares £1.00 In liquidation 97 228 Serena Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 97 229 Serena Software Europe Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 97 230 XDB (UK) Limited United Kingdom Ordinary Shares £1.00 In liquidation 97 231 ZANTAZ UK Limited United Kingdom Ordinary Shares £1.00 In liquidation 108 232 Attachmate Corporation United States Common Stock US$0.01 Development and support of software 99 233 Borland Corporation United States Common Stock US$0.01 Holding Company 100 234 Borland Software Corporation United States Common Stock US$0.01 Development and support of software 100 235 Borland Technology Corporation United States Common Stock US$0.01 Dormant 100 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 236 Entco Delaware LLC United States Interest in Capital Sale and support of software 100 237 Entco Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 238 Entco Technologies, Inc. United States Common Stock US$0.001 Sale and support of software 100 239 Entco, LLC United States Interest in Capital Sale and support of software 100 240 GWAVA Technologies Inc United States Common Stock of US$1.00 Sale and support of software 100 241 Interset Software - US, Inc. United States Common Stock US$0.0001 Sale and support of software 100 242 MA FinanceCo., LLC United States Units Holding Company 100 243 Marcel Holdings LLC United States Limited Liability Company Interest US$1.00 Sale and support of software 101 244 Micro Focus (US) Group, Inc United States Common Stock US$0.01 Holding Company 100 245 Micro Focus (US) International Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 246 Micro Focus (US), Inc. United States Common Stock US$0.01 Development and support of software 100 247 Micro Focus Brazil Holdings LLC (formerly Entco Brazil Holdings LLC) United States Interest in Capital Holding Company 100 248 Micro Focus Government Solutions LLC (formerly Entco Government Solutions LLC) United States Interest in Capital Sale and support of software 100 249 Micro Focus LLC (formerly EntIT Software LLC) United States Limited Liability Company Interests Sale and support of software 100 250 Micro Focus Software Inc. United States Voting Common Stock US$0.01 Non-voting Common Stock US$0.01 Development and support of software 100 251 MicroLink LLC United States Limited Liability Company Interests Sale and support of software 102 252 NetIQ Corporation United States Common Stock US$0.001 Development and support of software 100 253 Novell Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 254 Novell International Holdings, Inc. United States Common Stock US$0.01 Holding Company 100 255 Seattle SpinCo, Inc. United States Class A Common Stock US$0.01 Holding Company 100 256 Serena Software, Inc. United States Common Stock US$0.01 Holding Company 100 257 Spartacus Acquisition Holdings Corp United States Common Stock US$0.001 Holding Company 100 258 Stratify, Inc. United States Common Stock US$0.001 Sale and support of software 100 259 The Attachmate Group, Inc. United States Common Stock US$0.001 Holding Company 100 260 Vertica Systems, LLC United States Limited Liability Company Interests Sale and support of software 100 1 2 |
Other non-current assets (Table
Other non-current assets (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Other non-current assets [Abstract] | |
Other Non-current Assets | October 31, 2019 October 31, 2018 $m $m Employee benefit deposit 33.4 31.1 Long-term rent deposits 4.9 4.1 Long-term prepaid expenses 4.5 2.9 Other 1.2 0.7 44.0 38.8 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Inventories [Abstract] | |
Inventories | October 31, 2019 October 31, 2018 $m $m Work in progress - - Finished goods 0.1 0.2 0.1 0.2 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Trade and other receivables [Abstract] | |
Trade and Other Receivables | October 31, 2019 October 31, 2018 $m $m Trade receivables 877.9 1,089.6 Loss allowance (42.4 ) (41.9 ) Trade receivables net 835.5 1,047.7 Prepayments 53.9 60.0 Other receivables 87.2 79.0 Contract assets 56.3 85.3 1,032.9 1,272.0 |
Ageing of Impairment on Trade Receivables | The ageing of these receivables is as follows: Current $m Up to three months $m Three to four months $m Over four months $m Total $m October 31, 2019 Gross trade receivables 696.0 110.1 8.9 62.9 877.9 Loss allowance (8.9 ) (3.8 ) (1.5 ) (28.2 ) (42.4 ) Net trade receivables 687.1 106.3 7.4 34.7 835.5 October 31, 2018 Gross trade receivables 798.5 153.4 13.6 124.1 1,089.6 Loss allowance - - (3.6 ) (38.3 ) (41.9 ) Net trade receivables 798.5 153.4 10.0 85.8 1,047.7 |
Provision for Impairment of Trade Receivables | Movements in the Group provision for impairment of trade receivables were as follows: October 31, 2019 October 31, 2018 $m $m At November 1 / May 1 (calculated under IAS 39) 41.9 2.6 Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) 20.0 - Revised November 1 / May 1 61.9 2.6 Loss allowance provided in the period 16.0 40.0 Receivables written off as uncollectable (35.5 ) (0.7 ) At October 31 42.4 41.9 |
Contract-related costs (Tables)
Contract-related costs (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Contract-related costs [Abstract] | |
Contracts-related Costs | October 31, 2019 October 31, 2018 $m $m Current 19.3 - Non-current 31.5 - 50.8 - |
Amortization of Capitalized Costs of Obtaining Customer Contracts | Amortization of the capitalized costs of obtaining customer contracts is classified as sales and marketing expense. Capitalized costs from customer contracts are classified as non-financial assets in our statement of financial position. October 31, 2019 October 31, 2018 $m $m Asset recognized from costs incurred to acquire a contract 31.4 - Amortization and impairment loss recognized as cost of providing services during the period (10.2 ) - |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Cash and cash equivalents [Abstract] | |
Cash and Cash Equivalents | October 31, 2019 October 31, 2018 Note $m $m Cash at bank and in hand 292.2 387.1 Short-term bank deposits 63.5 236.7 355.7 623.8 Reclassification to current assets classified as held for sale 37 - (2.9 ) Cash and cash equivalents 355.7 620.9 |
Credit Quality of Cash and Cash Equivalents | The credit quality of cash and cash equivalents is as follows: October 31, 2019 October 31, 2018 $m $m S&P/Moody’s/Fitch rating: AAA 69.8 231.5 AA- 87.6 81.0 A+ 144.4 260.4 A 23.4 20.1 A- 14.4 3.8 BBB+ 1.7 4.5 BBB 4.5 1.0 BBB- 0.8 0.6 BB+ 0.8 2.0 BB 0.3 - BB- 6.3 15.2 B+ 0.2 - CCC+ - 0.2 C- - 0.3 Not rated 1.5 0.3 355.7 620.9 |
Trade and other payables - cu_2
Trade and other payables - current (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Trade and other payables - current [Abstract] | |
Trade and Other Payables - Current | October 31, 2019 October 31, 2018 $m $m Trade payables 105.0 46.1 Tax and social security 80.7 46.5 Accruals 425.3 584.3 611.0 676.9 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Borrowings [Abstract] | |
Borrowings | October 31, 2019 October 31, 2018 $m $m Bank loan secured 4,775.0 4,996.9 Unamortized prepaid facility arrangement fees and original issue discounts (104.3 ) (151.0 ) 4,670.7 4,845.9 October 31, 2019 October 31, 2018 Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts Total Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts Total Reported within: $m $m $m $m $m $m Current liabilities - - - 50.3 (46.6 ) 3.7 Non-current liabilities 4,775.0 (104.3 ) 4,670.7 4,946.6 (104.4 ) 4,842.2 4,775.0 (104.3 ) 4,670.7 4,996.9 (151.0 ) 4,845.9 |
Movements on the Group Loans | The movements on the Group loans in the period were as follows: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $m $m $m $m $m $m At May 1, 2017 1,515.2 - - - 80.0 1,595.2 Acquisitions - - 2,600.0 - - 2,600.0 Draw downs - 385.0 - 523.8 135.0 1,043.8 Repayments (11.4 ) (2.9 ) (19.5 ) (4.1 ) (215.0 ) (252.9 ) Foreign exchange - - - 10.8 - 10.8 At October 31, 2018 1,503.8 382.1 2,580.5 530.5 - 4,996.9 At November 1, 2018 1,503.8 382.1 2,580.5 530.5 - 4,996.9 Draw downs - - - - - - Repayments (89.1 ) (13.9 ) (94.2 ) (15.4 ) - (212.6 ) Foreign exchange - - - (9.3 ) - (9.3 ) At October 31, 2019 1,414.7 368.2 2,486.3 505.8 - 4,775.0 |
Maturity of Borrowings | The maturity profile of the anticipated future cash flows including interest in relation to the Group’s borrowings on an undiscounted basis, which therefore, differs from both the carrying value and fair value, is as follows: As at October 31, 2019: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $m $m $m $m $m $m Within one year 61.6 17.0 114.6 14.1 1.9 209.2 In one to two years 61.5 16.9 114.3 14.6 1.9 209.2 In two to three years 1,419.8 18.5 124.1 19.3 1.6 1,583.3 In three to four years - 20.6 139.4 19.1 - 179.1 In four to five years - 373.5 2,522.6 503.6 - 3,399.7 In more than five years - - - - - - At October 31, 2019 1,542.9 446.5 3,015.0 570.7 5.4 5,580.5 Less than 1 year 1-3 years 3-5 years After 5 years Total $m $m $m $m $m Debt principal repayment - 1,431.7 3,343.3 - 4,775.0 Interest payment on debt 209.2 360.6 235.7 - 805.5 At October 31, 2019 209.2 1,792.3 3,579.0 - 5,580.5 As at October 31, 2018: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $m $m $m $m $m $m Within one year 84.3 22.4 151.2 20.1 1.9 279.9 In one to two years 83.8 22.2 150.2 20.0 1.9 278.1 In two to three years 82.9 22.0 148.6 19.8 1.9 275.2 In three to four years 1,462.1 21.8 147.4 19.6 1.6 1,652.5 In four to five years - 21.6 146.1 19.5 - 187.2 In more than five years - 374.2 2,526.8 512.7 - 3,413.7 At October 31, 2018 1,713.1 484.2 3,270.3 611.7 7.3 6,086.6 Less than 1 year 1-3 years 3-5 years After 5 years Total $m $m $m $m $m Debt principal repayment 50.3 100.7 1,528.8 3,317.1 4,996.9 Interest payment on debt 229.6 452.6 310.9 96.6 1,089.7 At October 31, 2018 279.9 553.3 1,839.7 3,413.7 6,086.6 |
Finance leases (Tables)
Finance leases (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Finance leases [Abstract] | |
Finance Lease Liabilities Minimum Lease Payments And Present Value | October 31, 2019 October 31, 2018 $m $m Current 11.8 13.6 Non-current 11.7 14.9 23.5 28.5 Finance lease liabilities – minimum lease payments: October 31, 2019 October 31, 2018 $m $m Within one year 13.1 15.1 Between one and five years 12.5 16.0 25.6 31.1 Future lease charges (2.1 ) (2.6 ) 23.5 28.5 Finance lease liabilities – present value of minimum lease payments: October 31, 2019 October 31, 2018 $m $m Within one year 11.8 13.6 Between one and three years 10.8 13.3 Between three and five years 0.9 1.6 23.5 28.5 |
Current tax receivables, curr_2
Current tax receivables, current tax liabilities and non-current tax liabilities (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Current tax receivables, current tax liabilities and non-current tax liabilities [Abstract] | |
Current Tax Receivables | Current tax receivables October 31, 2019 October 31, 2018 $m $m Corporation tax 40.1 24.5 |
Current Tax Liabilities | Current tax liabilities October 31, 2019 October 31, 2018 $m $m Corporation tax 104.0 124.1 |
Non-Current Tax Liabilities | Non-current tax liabilities October 31, 2019 October 31, 2018 $m $m Corporation tax 119.7 131.0 |
Contract liabilities (Tables)
Contract liabilities (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Contract liabilities [Abstract] | |
Contract Liabilities | October 31, 2019 October 31, 2018 $m $m Current 1,045.9 1,134.7 Non-current 149.9 178.1 1,195.8 1,312.8 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Provisions [Abstract] | |
Provisions | October 31, 2019 October 31, 2018 $m $m Onerous leases and dilapidations 34.2 35.1 Restructuring 36.4 50.7 Legal 5.7 7.0 Other 2.1 - Total 78.4 92.8 Current 29.3 57.4 Non-current 49.1 35.4 Total 78.4 92.8 |
Provisions Continuing Operations and Discontinued Operation | Onerous leases and dilapidations Restructuring Legal Other Total Note $m $m $m $m $m At November 1, 2018 35.1 50.7 7.0 - 92.8 Acquisitions – Interset Software Inc. 38 - - - 0.7 0.7 Additional provision in the period 19.2 49.4 5.4 2.1 76.1 Released (7.4 ) (19.8 ) (6.2 ) - (33.4 ) Utilization of provision (13.9 ) (43.5 ) (0.5 ) (0.7 ) (58.6 ) Unwinding of discount 1.1 - - - 1.1 Effects of movements in exchange rates 0.1 (0.4 ) - - (0.3 ) At October 31, 2019 34.2 36.4 5.7 2.1 78.4 Current 9.5 12.0 5.7 2.1 29.3 Non-current 24.7 24.4 - - 49.1 Total 34.2 36.4 5.7 2.1 78.4 Onerous leases and dilapidations Restructuring Legal Other Total Note $m $m $m $m $m At May 1, 2017 16.3 12.1 3.2 0.5 32.1 Continuing operations: Acquisitions – HPE Software business 38 11.3 21.4 36.5 - 69.2 Additional provision in the period 17.7 133.4 1.4 - 152.5 Released (3.9 ) (3.7 ) (4.7 ) (0.4 ) (12.7 ) Utilization of provision (5.6 ) (110.0 ) (29.3 ) (0.1 ) (145.0 ) Effects of movements in exchange rates (0.7 ) (2.5 ) (0.1 ) - (3.3 ) Discontinued operation: Additional provision in the period 2.8 0.2 - - 3.0 Reclassification of current assets classified as held for sale 37 (2.8 ) (0.2 ) - - (3.0 ) At October 31, 2018 35.1 50.7 7.0 - 92.8 Current 11.2 39.2 7.0 - 57.4 Non-current 23.9 11.5 - - 35.4 Total 35.1 50.7 7.0 - 92.8 |
Pension commitments (Tables)
Pension commitments (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Pension commitments [Abstract] | |
Defined Contribution Schemes | Pension costs for defined contributions schemes are as follows: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Continuing operations Note $m $m $m Defined contribution schemes 33 32.7 43.3 10.9 |
Defined Benefit Schemes | October 31, 2019 October 31, 2018 $m $m Within non-current assets: Long-term pension assets 17.1 16.7 Within non-current liabilities: Retirement benefit obligations (141.4 ) (110.4 ) |
Movement on Long-term Pension Asset | The movement on the long-term pension asset is as follows: October 31, 2019 October 31, 2018 Note $m $m As at November 1 / May 1 16.7 22.0 Reclassification to assets held for sale 0.1 (1.5 ) Interest on non-plan assets 6 0.3 0.6 Benefits paid (0.1 ) (0.2 ) Contributions 0.3 0.5 Included within other comprehensive income: - Change in fair value assessment 0.4 (6.1 ) - Actuarial gain on non-plan assets - 0.3 0.4 (5.8 ) Effects of movements in exchange rates (0.6 ) 1.1 As at October 31, 17.1 16.7 Included within other comprehensive income: Continuing operations 0.3 (5.3 ) Discontinued operation 0.1 (0.5 ) 0.4 (5.8 ) |
Retirement Benefit Obligations | The following amounts have been included in the Consolidated statement of comprehensive income for defined benefit pension arrangements: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Current service charge 9.0 12.6 0.5 Past service credit - (5.5 ) - Charge to operating profit 33 9.0 7.1 0.5 Current service charge – discontinued operations 0.1 0.3 0.1 Interest on pension scheme liabilities 4.2 5.2 0.7 Interest on pension scheme assets (1.8 ) (2.4 ) (0.1 ) Charge to finance costs 6 2.4 2.8 0.6 Total continuing charge to profit for the period 11.5 10.2 1.2 |
Movements in Equity | The following amounts have been recognized as movements in the Consolidated statement of other comprehensive income: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Actuarial return on assets excluding amounts included in interest income 5.9 0.6 - Re-measurements – actuarial gains/(losses): - Demographic (1.6 ) 0.3 - - Financial (38.8 ) (11.1 ) 2.8 - Experience 8.4 1.9 0.6 (32.0 ) (8.9 ) 3.4 Reclassification from defined contribution scheme to defined benefit scheme - (2.1 ) (3.0 ) Movement in the period (26.1 ) (10.4 ) 0.4 Continuing operations (26.2 ) (8.9 ) (0.2 ) Discontinued operation 0.1 (1.5 ) 0.6 (26.1 ) (10.4 ) 0.4 |
Weighted Average Key Assumptions Used for Valuation of Schemes | The weighted average key assumptions used for the valuation of the schemes were: October 31, 2019 October 31, 2018 Germany Rest of World Total Germany Rest of World Total Rate of increase in final pensionable salary 2.50 % 3.09 % 2.65 % 2.50 % 2.75 % 2.61 % Rate of increase in pension payments 1.75 % 1.50 % 1.75 % 2.00 % 1.50 % 1.99 % Discount rate 1.09 % 1.71 % 1.20 % 1.83 % 2.14 % 1.92 % Inflation 1.75 % 1.16 % 1.69 % 2.00 % 1.26 % 1.89 % |
Average Life Expectancy of Pensioner | These assumptions translate into a weighted average life expectancy in years for a pensioner retiring at age 65: October 31, 2019 October 31, 2018 Germany Rest of World Total Germany Rest of World Total Retiring at age 65 at the end of the reporting period: Male 20 20 20 20 20 20 Female 23 23 23 23 23 23 Retiring 15 years after the end of the reporting period: Male 22 23 22 22 22 22 Female 25 26 25 25 25 25 |
Net Liability Arising from Obligations in Respect of Defined Benefit Schemes | The net liability included in the Consolidated statement of financial position arising from obligations in respect of defined benefit schemes is as follows: October 31, 2019 October 31, 2018 Germany Rest of World Total Germany Rest of World Total Present value of defined benefit obligations 213.5 48.0 261.5 173.8 47.4 221.2 Fair values of plan assets (92.0 ) (28.1 ) (120.1 ) (82.1 ) (28.7 ) (110.8 ) 121.5 19.9 141.4 91.7 18.7 110.4 |
Movements in Defined Benefit Obligations | The defined benefit obligation has moved as follows: October 31, 2019 Germany Rest of World Total Defined benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations $m $m $m $m $m $m $m $m $m At November 1, 2018 173.8 (82.1 ) 91.7 47.4 (28.7 ) 18.7 221.2 (110.8 ) 110.4 Reclassification to assets held for sale 0.3 - 0.3 0.2 (0.2 ) - 0.5 (0.2 ) 0.3 Current service cost 6.0 - 6.0 3.1 - 3.1 9.1 - 9.1 Past service credit - - - - - - - - - Benefits paid (0.4 ) 0.3 (0.1 ) (4.2 ) 4.1 (0.1 ) (4.6 ) 4.4 (0.2 ) Contributions by plan participants 1.5 (1.5 ) - 0.3 (0.3 ) - 1.8 (1.8 ) - Contribution by employer - (0.3 ) (0.3 ) - (4.2 ) (4.2 ) - (4.5 ) (4.5 ) Interest cost/(income) (note 6) 3.1 (1.5 ) 1.6 1.1 (0.3 ) 0.8 4.2 (1.8 ) 2.4 Included within Other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic 1.6 - 1.6 - - - 1.6 - 1.6 - Financial 34.0 - 34.0 4.8 - 4.8 38.8 - 38.8 - Experience (3.2 ) - (3.2 ) (5.2 ) - (5.2 ) (8.4 ) - (8.4 ) Actuarial return on assets excluding amounts included in interest income - (8.0 ) (8.0 ) - 2.1 2.1 - (5.9 ) (5.9 ) 32.4 (8.0 ) 24.4 (0.4 ) 2.1 1.7 32.0 (5.9 ) 26.1 Effects of movements in exchange rates (3.2 ) 1.1 (2.1 ) 0.5 (0.6 ) (0.1 ) (2.7 ) 0.5 (2.2 ) At October 31, 2019 213.5 (92.0 ) 121.5 48.0 (28.1 ) 19.9 261.5 (120.1 ) 141.4 October 31, 2018 Germany Rest of World Total Defined benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit Scheme assets Retirement benefit obligations $m $m $m $m $m $m $m $m $m At May 1, 2017 36.5 (5.7 ) 30.8 - - - 36.5 (5.7 ) 30.8 HPE Software business acquisition 121.1 (77.0 ) 44.1 60.4 (33.0 ) 27.4 181.5 (110.0 ) 71.5 Reclassification to assets held for sale (4.8 ) 0.7 (4.1 ) (4.3 ) 2.9 (1.4 ) (9.1 ) 3.6 (5.5 ) Current service cost 7.7 - 7.7 5.2 - 5.2 12.9 - 12.9 Past service credit (0.8 ) - (0.8 ) (4.7 ) - (4.7 ) (5.5 ) - (5.5 ) Benefits paid (0.3 ) 0.1 (0.2 ) (9.3 ) 9.3 - (9.6 ) 9.4 (0.2 ) Contributions by plan participants 1.5 (1.5 ) - 1.0 (0.8 ) 0.2 2.5 (2.3 ) 0.2 Contribution by employer - (0.1 ) (0.1 ) - (3.9 ) (3.9 ) - (4.0 ) (4.0 ) Interest cost/(income) (note 6) 4.0 (2.0 ) 2.0 1.2 (0.4 ) 0.8 5.2 (2.4 ) 2.8 Included within Other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic (0.1 ) - (0.1 ) (0.2 ) - (0.2 ) (0.3 ) - (0.3 ) - Financial 13.8 - 13.8 (2.7 ) - (2.7 ) 11.1 - 11.1 - Experience 0.5 - 0.5 (2.4 ) - (2.4 ) (1.9 ) - (1.9 ) Actuarial return on assets excluding amounts included in interest income - (0.2 ) (0.2 ) - (0.4 ) (0.4 ) - (0.6 ) (0.6 ) Reclassification from defined contribution scheme to defined benefit scheme - - - 5.5 (3.4 ) 2.1 5.5 (3.4 ) 2.1 14.2 (0.2 ) 14.0 0.2 (3.8 ) (3.6 ) 14.4 (4.0 ) 10.4 Effects of movements in exchange rates (5.3 ) 3.6 (1.7 ) (2.3 ) 1.0 (1.3 ) (7.6 ) 4.6 (3.0 ) At October 31, 2018 173.8 (82.1 ) 91.7 47.4 (28.7 ) 18.7 221.2 (110.8 ) 110.4 |
Major Categories of Plan Assets | The major categories of the plan assets are as follows: October 31, 2019 Germany Rest of World Total Quoted Unquoted Total Quoted Unquoted Total Quoted Unquoted Total $m $m $m $m $m $m $m $m $m Funds that invest in: - Equity instruments 39.8 - 39.8 - 5.5 5.5 39.8 5.5 45.3 - Debt instruments 46.6 - 46.6 3.0 6.0 9.0 49.6 6.0 55.6 - Real estate - - - - 3.1 3.1 - 3.1 3.1 Cash and cash equivalents - - - - 1.7 1.7 - 1.7 1.7 Re-insurance contracts with guaranteed interest rates * - 5.6 5.6 - - - - 5.6 5.6 Other - - - - 8.8 8.8 - 8.8 8.8 Total 86.4 5.6 92.0 3.0 25.1 28.1 89.4 30.7 120.1 October 31, 2018 Germany Rest of World Total Quoted Unquoted Total Quoted Unquoted Total Quoted Unquoted Total $m $m $m $m $m $m $m $m $m Funds that invest in: - Equity instruments 42.3 - 42.3 7.6 1.6 9.2 49.9 1.6 51.5 - Debt instruments 34.3 - 34.3 3.1 5.1 8.2 37.4 5.1 42.5 - Real estate - - - 2.0 0.1 2.1 2.0 0.1 2.1 Cash and cash equivalents - - - - 2.3 2.3 - 2.3 2.3 Re-insurance contracts with guaranteed interest rates * - 5.5 5.5 - - - - 5.5 5.5 Other - - - - 6.9 6.9 - 6.9 6.9 Total 76.6 5.5 82.1 12.7 16.0 28.7 89.3 21.5 110.8 * The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. |
Sensitivity of Defined Benefit Obligation | The weighted average duration of the defined benefit obligation is 25 years for Germany and 14 years for all other schemes. Germany Rest of World Change in assumption Change in defined benefit obligation Change in assumption Change in defined benefit obligation Discount rate for scheme liabilities 0.50 % (11.5 %) 0.50 % (6.7 %) Price inflation 0.25 % 3.8 % 0.25 % 0.9 % Salary growth rate 0.50 % 1.0 % 0.50 % 3.6 % Life expectancy 1 year 3.7 % 1 year 1.3 % |
Other non-current liabilities (
Other non-current liabilities (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Other non-current liabilities [Abstract] | |
Other Non-current Liabilities | October 31, 2019 October 31, 2018 $m $m Accruals 50.4 58.0 50.4 58.0 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Financial instruments [Abstract] | |
Values of Financial and Non-financial Assets and Liabilities | The tables below set out the values of financial and non-financial assets and liabilities. Financial October 31, 2019 Non- financial October 31, 2019 Total October 31, 2019 Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Note $m $m $m $m $m $m Financial and non-financial assets Non-current Long-term pension assets 25 17.1 - 17.1 16.7 - 16.7 Derivative financial instruments – Interest rate swaps 31 - - - - 86.4 86.4 Current Cash and cash equivalents 18 355.7 - 355.7 620.9 - 620.9 Trade and other receivables 16 922.7 110.2 1,032.9 1,212.0 60.0 1,272.0 1,295.5 110.2 1,405.7 1,849.6 146.4 1,996.0 Financial October 31, 2019 Non- financial October 31, 2019 Total October 31, 2019 Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Note $m $m $m $m $m $m Financial and non-financial liabilities – financial liabilities at amortized cost Non-current Derivative financial instruments – Interest rate swaps 36.5 - 36.5 - - - Borrowings (gross) 20 4,775.0 - 4,775.0 4,946.6 - 4,946.6 Finance leases 21 11.7 - 11.7 14.9 - 14.9 Provisions 24 49.1 - 49.1 35.4 - 35.4 Current Borrowings (gross) 20 - - - 50.3 - 50.3 Finance leases 21 11.8 - 11.8 13.6 - 13.6 Trade and other payables 19 530.3 80.7 611.0 676.9 - 676.9 Provisions 24 29.3 - 29.3 57.4 - 57.4 5,443.7 80.7 5,524.4 5,795.1 - 5,795.1 |
Forward Contracts not Designated for Formal Hedge Accounting | The forward contracts were not designated for formal hedge accounting and matured for delivery within the reporting period. October 31, 2019 October 31, 2018 $m $m Derivative financial instruments- non-current asset – interest rate swaps - 86.4 Derivative financial instruments- non-current liabilities – interest rate swaps (36.5 ) - (36.5 ) 86.4 |
Derivative Financial Instruments | Note 31 shows the derivative financial instruments relating to hedging transactions entered into in the period ended October 31, 2019 (other reserves). October 31, 2019 October 31, 2018 $m $m Carrying amount (36.5 ) 86.4 Notional amount (4 x $562.5m) 2,250.0 2,250.0 Maturity date September 30, 2022 September 30, 2022 Change in fair value of outstanding hedging instruments (note 31) (122.9 ) 86.4 Change in value of hedging instruments adjusted for credit risk (121.9 ) 84.7 |
Maximum Exposure to Credit Risk | The maximum exposure to credit risk at October 31, 2019 was: October 31, 2019 October 31, 2018 Note $m $m Trade receivables (gross) 16 877.9 1,089.6 Cash and cash equivalents 18 355.7 620.9 Total 1,233.6 1,710.5 |
Loss Allowance for Trade Receivable on Adoption of IFRS 9 | On that basis, the loss allowance as at October 31, 2019 and November 1, 2018 (on adoption of IFRS 9) was determined as follows for trade receivables (note 16): October 31, 2019 October 31, 2018 $’m $’m At November 1 / May 1 – calculated under IAS 39 41.9 2.6 Accounting policy change – IFRS 9 (recognized against retained earnings on November 1, 2018) 20.0 - 61.9 2.6 Loss allowance provided in the period 16.0 40.0 Receivables written off as uncollectable (35.5 ) (0.7 ) At October 31 42.4 41.9 |
Sensitivity Analysis | The table below illustrates the equity sensitivity analysis of the Group exposures to movements in currency and interest rates. Group exposure +/- 5% +/- 10% +/- 1% interest Key aggregate currency exposures $m $m $m $m Euro 512.6 25.6 51.2 GBP 137.2 6.8 13.7 JPY 69.6 3.5 6.9 ILS 36.7 1.8 3.7 CAN$ 26.1 1.3 2.6 Borrowings -Interest rate LIBOR +1% (based on gross debt excluding the effects of hedging) n/a n/a n/a 47.75 |
Capital Structure of Group at Statement of Financial Position Date | The capital structure of the Group at the Consolidated statement of financial position date is as follows: October 31, 2019 October 31, 2018 Note $m $m Bank and other borrowings (net of arrangement fees) 20 4,670.7 4,845.9 Finance lease obligations 21 23.5 28.5 Less cash and cash equivalents 18 (355.7 ) (620.9 ) Total net debt 4,338.5 4,253.5 Total equity 6,276.3 7,792.0 Debt/equity % 69.1 % 54.6 % |
Change in Liabilities Arising from Financing Activities for Interest Bearing Loans and Finance Leases | Change in liabilities arising from financing activities for interest bearing loans (note 20) and finance leases (note 21) were as follows: Interest bearing loans Finance leases Total $m $m $m At November 1, 2018 4,996.9 28.5 5,025.4 Draw down/New leases - 9.0 9.0 Repayments (212.6 ) (14.9 ) (227.5 ) Foreign exchange (9.3 ) 0.9 (8.4 ) At October 31, 2019 4,775.0 23.5 4,798.5 |
Deferred tax (Tables)
Deferred tax (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Deferred tax [Abstract] | |
Net Deferred Tax Liability | 12 months ended October 31, 2019 18 months ended October 31, 2018 Net Deferred tax liability Note $m $m At November 1 / May 1 (1,170.5 ) (118.5 ) Credited/(debited) to consolidated statement of comprehensive income: 188.7 (17.1 ) - Continuing operations 7 156.4 (27.6 ) - Discontinued operation 32.3 10.5 Credited directly to equity in relation to share options (7.6 ) (23.7 ) Credited to other comprehensive income: 27.0 4.3 - Continuing operations 27.0 3.8 - Discontinued operation - 0.5 Acquisition of subsidiaries: - (1,957.4 ) Acquisition of subsidiaries – HPE Software business 38 - (1,953.5 ) Acquisition of subsidiaries – COBOL-IT 38 - (3.9 ) Impact of adoption of IFRS 9 4.4 - Impact of adoption of IFRS15 (17.3 ) - Foreign exchange adjustment (11.8 ) 11.6 Reclassification to current assets held for sale 37 - (1.6 ) Effect of change in tax rates – charged to Consolidated statement of comprehensive income - 931.9 At October 31 (987.1 ) (1,170.5 ) |
Deferred Tax Assets | Tax losses and interest restrictions Share- based payments Deferred revenue Prepaid royalty Tax credits Intangible fixed assets Other temporary differences Total $m $m $m $m $m $m $m $m At May 1, 2017 56.7 43.7 44.5 - 33.8 5.9 23.6 208.2 Acquisition of subsidiaries - HPE Software business 4.5 - (36.5 ) 332.0 39.0 - 43.7 382.7 (Charged)/credited to Consolidated statement of comprehensive income – continuing operations (13.5 ) 0.1 45.2 (201.4 ) (46.1 ) (0.8 ) 14.1 (202.4 ) Credited directly to equity - (23.7 ) - - - - - (23.7 ) Debited to Other comprehensive income - - - - - - 4.3 4.3 Foreign exchange adjustment - (0.3 ) - - - - - (0.3 ) Reclassification to current assets held for sale - - - - - - (1.6 ) (1.6 ) Effect of change in tax rates – credited to Consolidated statement of comprehensive income (21.1 ) (2.4 ) 66.7 (88.7 ) 3.0 (2.1 ) (13.3 ) (57.9 ) Subtotal 26.6 17.4 119.9 41.9 29.7 3.0 70.8 309.3 Jurisdictional offsetting (309.3 ) At October 31, 2018 - Tax losses and interest restrictions Share- based payments Deferred revenue Prepaid royalty Tax credits Intangible fixed assets Other temporary differences Total $m $m $m $m $m $m $m $m At November 1, 2018 26.6 17.4 119.9 41.9 29.7 3.0 70.8 309.3 (Charged)/credited to Consolidated statement of comprehensive income – continuing operations 73.9 (5.1 ) (12.0 ) (41.9 ) (22.9 ) (3.0 ) 12.7 1.7 Credited/(charged) to Consolidated statement of comprehensive income – discontinued operation - - 0.7 - - - (12.3 ) (11.6 ) Credited directly to equity - (7.6 ) - - - - - (7.6 ) Debited to Other comprehensive income - - - - - - 13.0 13.0 Foreign exchange adjustment - 0.3 - - - - - 0.3 Impact of adoption of IFRS 9 - - - - - - 4.4 4.4 Subtotal 100.5 5.0 108.6 - 6.8 - 88.6 309.5 Jurisdictional offsetting (309.5 ) At October 31, 2019 - |
Unrecognize Deferred Tax Assets in Relation to Gross Temporary Differences | The Group did not recognize deferred tax assets in relation to the following gross temporary differences, the expiration of which is determined by the tax law of each jurisdiction: Expiration: 2020 2021 2022 2023 2024 Thereafter No expiry Total $m $m $m $m $m $m $m $m At October 31, 2019 Type of temporary difference: Losses 56.3 99.2 40.1 33.6 41.8 2,191.6 50.7 2,513.3 Credits 3.5 3.6 2.1 1.3 0.7 1.7 28.9 41.8 Other - - - - - - 23.9 23.9 Total 59.8 102.8 42.2 34.9 42.5 2,193.3 103.5 2,579.0 Expiration: 2019 2020 2021 2022 2023 Thereafter No expiry Total $m $m $m $m $m $m $m $m At October 31, 2018 Type of temporary difference: Losses 35.2 66.1 99.2 37.5 33.6 2,117.7 95.6 2,484.9 Credits 2.2 4.4 4.0 2.4 1.3 5.2 196.4 215.9 Other 1.9 - - - - - 47.7 49.6 Total 39.3 70.5 103.2 39.9 34.9 2,122.9 339.7 2,750.4 |
Deferred Tax Liabilities | Intangible fixed assets Other temporary differences Total $m $m $m At May 1, 2017 (311.7 ) (15.0 ) (326.7 ) Acquisition of subsidiaries – HPE Software business (2,324.1 ) (12.1 ) (2,336.2 ) Acquisition of subsidiaries – COBOL-IT (3.9 ) - (3.9 ) Charged/(credited) to Consolidated statement of comprehensive income – continuing operations 186.8 (12.0 ) 174.8 Charged to Consolidated statement of comprehensive income – discontinued operations 10.5 - 10.5 Foreign exchange adjustment 11.9 - 11.9 Effect of change in tax rates – charged to consolidated statement of comprehensive income 982.0 7.8 989.8 Subtotal (1,448.5 ) (31.3 ) (1,479.8 ) Jurisdictional offsetting 309.3 At October 31, 2018 (1,170.5 ) Intangible fixed assets Other temporary differences Total $m $m $m At November 1, 2018 (1,448.5 ) (31.3 ) (1,479.8 ) Charged to Consolidated statement of comprehensive income – continuing operations 155.5 (0.8 ) 154.7 Charged to Consolidated statement of comprehensive income – discontinued operation 34.0 9.9 43.9 Credited to other comprehensive income – continuing operations 14.0 - 14.0 Impact of adoption of IFRS15 - (17.3 ) (17.3 ) Foreign exchange adjustment (12.1 ) - (12.1 ) Subtotal (1,257.1 ) (39.5 ) (1,296.6 ) Jurisdictional offsetting 309.5 At October 31, 2019 (987.1 ) |
Share capital (Tables)
Share capital (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Share capital [Abstract] | |
Capital Structure | Ordinary shares at 10 pence each as at October 31, 2019 (October 31, 2018: 10 pence each) October 31, 2019 October 31, 2018 April 30, 2017 Note Shares $m Shares $m Shares $m Issued and fully paid At November 1 /May 1 436,800,513 65.8 229,674,479 39.7 228,706,210 39.6 Shares issued to satisfy option awards 6,109,091 0.1 1,894,673 0.2 968,269 0.1 Shares utilized to satisfy option awards (4,804,817 ) - - - - - Share reorganisation (74,521,459 ) (18.7 ) (16,935,536 ) (2.9 ) - - Shares issued relating to acquisition of the HPE Software business 38 - - 222,166,897 28.8 - - At October 31 363,583,328 47.2 436,800,513 65.8 229,674,479 39.7 “B” shares at 335.859391 pence each (October 31, 2018: 168 pence each) October 31, 2019 October 31, 2018 April 30, 2017 Shares $m Shares $m Shares $m Issued and fully paid At November 1 / May 1 - - - - - - Issue of B shares 413,784,754 1,800.0 229,799,802 500.0 - - Redemption of B shares (413,784,754 ) (1,800.0 ) (229,799,802 ) (500.0 ) - - At October 31 - - - - - - Deferred D Shares at 10 pence each October 31, 2019 October 31, 2018 April 30, 2017 Shares $m Shares $m Shares $m Issued and fully paid At November 1 / May 1 - - - - - - Issue of Deferred shares 74,521,459 - - - - - Redemption of Deferred shares (74,521,459 ) - - - - - At October 31 - - - - - - Treasury share movements and share buy-back costs are shown below: 12 months ended October 31, 2019 18 months ended October 31, 2018 Total Treasury shares Number Number Number Share buy-backs 29,160,054 9,858,205 39,018,259 Shares issued to satisfy option awards (4,804,817 ) - (4,804,817 ) Share reorganisation (4,012,537 ) - (4,012,537 ) 20,342,700 9,858,205 30,200,905 Share buy-back numbers: Ordinary shares bought on the London Stock Exchange 25,766,919 8,567,659 34,334,578 ADRs purchased on the New York Stock Exchange 3,393,135 1,290,546 4,683,681 29,160,054 9,858,205 39,018,259 Share buy-back cost: $m $m $m Share buy-back cost 538.8 171.2 710.0 Expenses 5.9 0.5 6.4 544.7 171.7 716.4 |
Share premium account (Tables)
Share premium account (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Share premium account [Abstract] | |
Share Premium Account | October 31, 2019 October 31, 2018 April 30, 2017 Note $m $m $m At November 1/ May 1 41.0 192.1 190.3 Issue and redemption of B shares 29 - (156.7 ) - Movement in relation to share options exercised 33 3.0 5.6 1.8 At October 31 44.0 41.0 192.1 |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Other reserves [Abstract] | |
Other reserves | Capital redemption reserve Merger reserve Hedging reserve Total Note $m $m $m $m As at May 1, 2016 163.4 988.1 - 1,151.5 Reallocation of merger reserve - (650.0 ) - (650.0 ) As at April 30, 2017 163.4 338.1 - 501.5 Return of Value - share consolidation 29 2.9 - - 2.9 Return of Value - issue and redemption of B shares 29 500.0 (343.3 ) - 156.7 Hedge accounting 1 27 - - 86.4 86.4 Current tax movement on hedging 1 - - (16.4 ) (16.4 ) Acquisition of the HPE Software business 2 38 - 6,485.4 - 6,485.4 Reallocation of merger reserve 3 - (2,755.8 ) - (2,755.8 ) As at October 31, 2018 666.3 3,724.4 70.0 4,460.7 As at November 1, 2018 666.3 3,724.4 70.0 4,460.7 Return of Value - share consolidation 29 18.7 - - 18.7 Return of Value - issue and redemption of B shares 29 1,800.0 (1,800.0 ) - - Hedge accounting 1 27 - - (122.9 ) (122.9 ) Current tax movement on hedging 1 - - 23.3 23.3 Reallocation of merger reserve 3 - (184.6 ) - (184.6 ) As at October 31, 2019 2,485.0 1,739.8 (29.6 ) 4,195.2 1 Hedging reserve A debit of $99.6m was recognized in the hedging reserve in relation to hedging transactions entered into in the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $70.0m credit). 2 Acquisition of HPE Software On September 1, 2017, the acquisition of the HPE Software business was completed (note 38). As a result of this a merger reserve was created of $6,485.4m. The acquisition was structured by way of equity consideration; this transaction fell within the provisions of section 612 of the Companies Act 2006 (merger relief) such that no share premium was recorded in respect of the shares issued. The Parent Company chose to record its investment in the HPE Software business at fair value and therefore recorded a merger reserve equal to the value of the share premium which would have been recorded had section 612 of the Companies Act 2006 not been applicable (i.e. equal to the difference between the fair value of the HPE Software business and the aggregate nominal value of the shares issued). 3 Reallocation of merger reserve In the 12 months ended October 31, 2019, an amount of $184.6m was transferred from the merger reserve to retained earnings. The merger reserve is an unrealized profit until it can be realized by the settlement of the intercompany loan by qualifying consideration. In the 18 months ended October 31, 2018, it was disclosed that $2,755.8m of the merger reserve would be settled in the period. However, as at October 31, 2019, only $2,540.4m of the balance was settled as the balance of $215.4m was not required for any Returns of Value to shareholders. However, the remaining $215.4m and an additional $184.6m is expected to be settled in qualifying consideration during the year ended October 31, 2020 (18 months ended October 31, 2018: $2,540.4m) and as such an equivalent proportion of the merger reserve is considered realized, in accordance with section 3.11(d) of Tech 02/17 and therefore has been transferred to retained earnings. An amount of $650.0m was transferred from the merger reserve to retained earnings in the 12 months ended April 30, 2017. |
Non-controlling interests (Tabl
Non-controlling interests (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Non-controlling interests [Abstract] | |
Disclosure of non-controlling interests | This payment increased the Group’s shareholding from 81.05% to 84.24%. October 31, 2019 October 31, 2018 April 30, 2017 $m $m $m At November 1 / May 1 1.0 0.9 1.0 Share of profit after tax 0.3 0.1 (0.1 ) At October 31 1.3 1.0 0.9 |
Non-controlling interests | Non-controlling interests relate to the companies detailed below: Company name Country of incorporation and principal place of business October 31, 2019 Proportion held October 31, 2018 Proportion held April 30, 2017 Proportion held Novell Japan Ltd Japan 84.24 % 81.05 % 74.70 % |
Employees and directors (Tables
Employees and directors (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Employees and directors [Abstract] | |
Staff Costs | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Staff costs Wages and salaries 1,204.4 1,819.2 382.5 Redundancy and termination costs (non-exceptional) 0.5 2.1 2.1 Social security costs 93.6 159.0 53.2 Other pension costs 41.7 50.4 11.4 1,340.2 2,030.7 449.2 Cost of employee share schemes (Share-based payments section) 68.8 64.3 31.5 Total 1,409.0 2,095.0 480.7 |
Pension Costs | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Note $m $m $m Pension costs comprise: Defined benefit schemes 25 9.0 7.1 0.5 Defined contribution schemes 25 32.7 43.3 10.9 Total 41.7 50.4 11.4 |
Average Monthly Number of People Employed by the Group | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Number Number Number Average monthly number of people (including executive directors) employed by the Group: Continuing Operations Sales and distribution 5,413 5,860 1,818 Research and development 5.056 4,323 1,400 General and administration 1,991 1,378 642 12,460 11,561 3,860 Discontinued Operation Sales and distribution 164 515 323 Research and development 170 629 476 General and administration 3 8 4 337 1,152 803 Total Sales and distribution 5,577 6,375 2,141 Research and development 5,226 4,952 1,876 General and administration 1,994 1,386 646 Total 12,797 12,713 4,663 |
Directors | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Directors Aggregate emoluments 3.7 14.6 5.2 Aggregate gains made on the exercise of share options 79.7 77.7 8.2 Company contributions to money purchase pension scheme - 0.7 0.5 Total 83.4 93.0 13.9 Number of granted and cancelled nil cost share options over Ordinary Shares Number of replacement nil cost options over Ordinary Shares Director ‘000 ‘000 Kevin Loosemore 1,100 1,100 Stephen Murdoch 500 947 Chris Kennedy 1 500 676 Mike Phillips 1 676 676 Nils Brauckmann 1 500 500 3,276 3,899 1 These ASG options awarded to Chris Kennedy (all), Nils Brauckmann (all) and Mike Phillips (partial) lapsed as a result of their resignations and subsequent leaving employment. |
Key Management Compensation | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Key management compensation Short-term employee benefits 9.5 25.9 8.0 Share-based payments 25.3 44.5 9.4 Total 34.8 70.4 17.4 |
Share-based Payment | The tables below for each type of share option are presented on a combined continuing and discontinued operations basis. 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Continuing operations $m $m $m Share-based compensation – IFRS 2 charge 62.0 70.9 20.8 Employer taxes 6.8 (6.6 ) 10.7 68.8 64.3 31.5 |
Incentive Plan 2005 [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighted Average Exercise Prices of Share Options | 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of Options Weighted average exercise price Number of Options Weighted average exercise price ‘000 pence ‘000 pence Outstanding at November 1 / May 1 5,620 14 4,662 29 Exercised (3,410 ) 17 (1,283 ) 12 Forfeited (545 ) 27 (582 ) 3 Granted 7,562 - 2,823 - Outstanding at October 31 9,227 6 5,620 14 Exercisable at October 31 1,416 34 2,270 51 |
Weighted Average Remaining Contractual Life of Outstanding Share Options | October 31, 2019 October 31, 2018 Range of exercise prices Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) £0.10 or less 1 8,982 3.4 1 5,127 6.7 £0.11 – £1.00 13 137 3.7 13 205 4.9 £1.01 – £2.00 - - - - - - £2.01 – £3.00 - - - - - - £3.01 - £4.00 - - - 358 146 0.7 More than £4.00 402 108 0.7 402 142 1.7 6 9,227 3.4 14 5,620 4.0 |
Disclosure of Significant Input of Share Based Payments | The significant inputs into the model for the 12 months ended October 31, 2019 were: 12 months ended October 31, 2019 18 months ended October 31, 2018 Weighted average share price at the grant date £16.44 £16.87 Expected volatility between 48.91% and 49.68% between 28.59% and 48.54% Expected dividend yield between 4.78% and 5.87% between 2.82% and 7.02% Expected option life 0.76 to four years three years Annual risk-free interest rate between 0.49% and 1.38% between 1.0% and 1.6% |
Additional Share Grants [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighted Average Exercise Prices of Share Options | 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of Options Number of Options TAG ASGs HPE Software ASGs Total Weighted average exercise price TAG ASGs HPE Software ASGs Total Weighted average exercise price ‘000 ‘000 ‘000 pence ‘000 ‘000 ‘000 pence Outstanding at November 1 / May 1 3,062 7,427 10,489 - 3,262 - 3,262 - Granted - 458 458 - - 13,115 13,115 - Exercised (2,601 ) - (2,601 ) - (200 ) - (200 ) - Lapsed - (4,670 ) (4,670 ) - - (2,412 ) (2,412 ) - Cancelled - - - - - (3,276 ) (3,276 ) - Outstanding at October 31 461 3,215 3,676 - 3,062 7,427 10,489 - Exercisable at October 31 461 - 461 - 3,062 - 3,062 - |
Weighted Average Remaining Contractual Life of Outstanding Share Options | October 31, 2019 October 31, 2018 Range of exercise prices Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) Weighted average exercise price pence Number of options ‘000 Weighted average remaining contractual life (years) £0.00 - 3,676 7.3 - 10,489 5.5 - 3,676 7.3 - 10,489 5.5 |
Disclosure of Significant Input of Share Based Payments | The significant inputs into the model for the 12 months ended October 31, 2019 were: 12 months ended October 31, 2019 18 months ended October 31, 2018 Weighted average share price at the grant date £22.81 £18.35 Expected volatility 28.00 % Between 28.00% - 31.00% Expected dividend yield 2.85 % Between 3.26% - 5.29% Expected option life 1.75 years – 1.78 years 1.96 years Annual risk-free interest rate 0.43 % Between 0.43% - 0.84% |
Sharesave Plan and Employee Stock Purchase Plan 2006 [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighted Average Exercise Prices of Share Options | Further Sharesave and ESPP grants were made during the 12 months to October 31, 2019. Sharesave 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of options ‘000 Weighted average exercise price pence Number of options ‘000 Weighted average exercise price pence Outstanding at November 1 / May 1 496 1,185 559 1,039 Exercised (81 ) 1,171 (294 ) 829 Forfeited (102 ) 1,297 (223 ) 1,508 Granted 125 1,374 454 1,293 Outstanding at October 31 438 1,221 496 1,185 Exercisable at October 31 62 1,461 47 1,116 Number of options Exercise price per share ‘000 Date of grant pence Exercise period 61 August 12, 2016 1,465.6 October 1, 2019 – February 1, 2020 21 February 23, 2018 1,720.0 April 1, 2021 – September 30, 2021 2 February 23, 2018 1,963.0 April 1, 2021 – September 30, 2021 221 August 3, 2018 1,023.0 October 1, 2021 – March 31, 2022 19 August 3, 2018 1,159.0 October 1, 2021 – March 31, 2022 67 March 7, 2019 1,344.0 April 1, 2022 – September 30, 2022 4 March 7, 2019 1,533.0 April 1, 2022 – September 30, 2022 40 August 5, 2019 1,411.0 October 1, 2021 – August 4, 2022 3 August 5, 2019 1,574.3 October 1, 2021 – August 4, 2022 438 ESPP 12 months ended October 31, 2019 18 months ended October 31, 2018 Number of options Weighted average exercise price Number of options Weighted average exercise price ‘000 pence ‘000 pence Outstanding at November 1 / May 1 800 1,047 124 1,510 Exercised (17 ) 1,114 (110 ) 1,598 Forfeited (44 ) 1,440 (31 ) 1,236 Granted 453 1,444 817 1,057 Outstanding at October 31 1,192 1,182 800 1,047 Exercisable at October 31 - - - - Number of Options Exercise price per share ‘000 Date of grant pence Exercise period 309 March 1, 2018 1,235.6 March 1, 2020 – May 31, 2020 430 July 1, 2018 868.5 July 1, 2020 – September 30, 2020 244 March 1, 2019 1,428.0 March 1, 2021 – May 31, 2021 209 October 1, 2019 1,462.8 October 1, 2021 – December 31, 2021 1,192 |
Disclosure of Significant Input of Share Based Payments | The significant inputs into the model for the 12 months ended October 31, 2019 were: 12 months ended October 31, 2019 18 months ended October 31, 2018 Weighted average share price at the grant date £17.56 £15.48 Expected volatility between 49.06% and 49.68% between 28.82% - 48.60% Expected dividend yield between 4.63% and 5.87% between 3.86% - 7.02% Expected option life Two or three years two or three years Annual risk-free interest rate between 0.49% and 1.16% between 1.3% - 1.5% |
Operating lease commitments -_2
Operating lease commitments - minimum lease payments (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Operating lease commitments - minimum lease payments [Abstract] | |
Future Minimum Lease Payments under Non-cancellable Operating Leases | At October 31, 2019 the Group has a number of lease agreements in respect of properties, vehicles, plant and equipment, for which the payments extend over a number of years. October 31, 2019 October 31, 2018 $m $m Future minimum lease payments under non-cancellable operating leases falling due: No later than one year 78.6 65.8 Later than one year and no later than three years 123.6 86.4 Later than three years and no later than five years 61.4 53.3 Later than five years 37.6 22.5 Total 301.2 228.0 |
Discontinued operation, asset_2
Discontinued operation, assets classified as held for sale and disposals (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Discontinued operation, assets classified as held for sale and disposals [Abstract] | |
Net Assets Classified as Held for Sale | There are no disposal groups classified as held for sale in the current period. At October 31, 2018, the assets and liabilities relating to the SUSE and Atalla businesses were presented as held for sale. October 31, 2019 October 31, 2018 Current Assets Current liabilities Total Current assets Current liabilities Total Reported in: $m $m $m $m $m $m SUSE - - - 1,114.5 (427.4 ) 687.1 Atalla - - - 28.0 (10.3 ) 17.7 - - - 1,142.5 (437.7 ) 704.8 |
SUSE [Member] | |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Discontinued Operation for Financial Performance and Cash Flow | Discontinued operation – Financial performance 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 Before Exceptional Items Exceptional Items Total Total Total $m $m $m $m $m Revenue 127.0 - 127.0 538.2 303.4 Operating costs (89.3 ) - (89.3 ) (425.3 ) (238.6 ) Operating profit 37.7 - 37.7 112.9 64.8 Share of results of associate (0.3 ) - (0.3 ) (1.8 ) - Profit on disposal of the SUSE business - 1,767.9 1,767.9 - - Profit before taxation 37.4 1,767.9 1,805.3 111.1 64.8 Taxation (8.7 ) (309.4 ) (318.1 ) (34.2 ) (31.1 ) Profit for the period from discontinued operation 28.7 1,458.5 1,487.2 76.9 33.7 Discontinued operation – Cash flow The cash flow statement shows amounts related to the discontinued operations: 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 $m $m $m Net cash inflows from operating activities 18.6 136.1 70.4 Net cash outflows from investing activities - (2.5 ) (7.4 ) Net cash flows from financing activities - - - |
Assets and Liabilities Relating to Business Segment | Costs to sell have been included in trade and other payables. October 31, 2019 October 31, 2018 Note $m $m Non-current assets Goodwill 10 - 859.6 Other Intangible assets 11 - 165.6 Property, plant and equipment 12 - 5.7 Investment in associates - 9.6 Deferred tax assets - 1.6 Long-term pension assets 25 - 1.5 Other non-current assets - 2.2 - 1,045.8 Current assets Trade and other receivables - 65.8 Cash and cash equivalents - 2.9 - 68.7 Total assets held for sale - 1,114.5 Current liabilities Trade and other payables - (38.0 ) Provisions 24 - (0.7 ) Current tax liabilities - (1.2 ) Deferred income - (218.3 ) - (258.2 ) Non-current liabilities Deferred income - (160.8 ) Retirement benefit obligations 25 - (5.5 ) Long-term provisions 24 - (2.3 ) Other non-current liabilities - (0.6 ) - (169.2 ) Total liabilities held for sale - (427.4 ) Net assets classified as held for sale - 687.1 |
Net Assets Disposed of and Profit on Disposal | Details of net assets disposed of and the profit on disposal are as follows: Carrying value pre-disposal $m Non-current assets classified as held for sale 989.8 Current assets classified as held for sale 127.3 Current liabilities classified as held for sale (288.5 ) Non-current liabilities classified as held for sale (177.3 ) Net assets disposed 651.3 The profit on disposal is calculated as follows: $m Disposal proceeds 2,540.3 Costs to sell recognized in the period (45.3 ) Disposal proceeds, less costs to sell recognized in the period 2,495.0 Net assets disposed (651.3 ) Profit on disposal 1,843.7 Cumulative exchange gain in respect of the net assets of the subsidiaries, reclassified from equity on disposal (75.8 ) Profit on disposal 1,767.9 |
Inflow of Cash and Cash Equivalents on Disposal of Business | The inflow of cash and cash equivalents on the disposal of the SUSE business is calculated as follows: $m Disposal proceeds, less total costs to sell 2,495.0 Cash disposed (21.5 ) Investing cash flows generated from discontinued operations, net of cash disposed 2,473.5 |
Atalla [Member] | |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Assets and Liabilities Relating to Business Segment | The assets and liabilities relating to the Atalla business included in the Financial Statements at October 31, 2018 amount to $17.7m. October 31, 2019 October 31, 2018 Note $m $m Goodwill 10 - 27.9 Property, plant and equipment 12 - 0.1 Non-current assets - 28.0 Deferred income - (10.3 ) Current liabilities - (10.3 ) Net assets classified as held for sale - 17.7 |
Net Assets Disposed of and Profit on Disposal | Details of net assets disposed of and the profit on disposal are as follows: Carrying value pre-disposal $m Goodwill 28.0 Property, plant and equipment 0.3 Non-current assets 28.3 Deferred income (12.0 ) Current liabilities (12.0 ) Net assets disposed 16.3 The profit on disposal which has been recorded as exceptional (note 4) is calculated as follows: $m Disposal proceeds 20.0 Net assets disposed (16.3 ) Profit on disposal 3.7 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Disclosure of detailed information about business combination [line items] | |
Summary of Acquisitions | Summary of acquisitions Consideration Carrying value at acquisition Fair value adjustments Goodwill Shares Cash Total $m $m $m $m $m $m Acquisitions in the 12 months ended October 31, 2019: Interset Software Inc. 0.9 61.3 26.8 - 89.0 89.0 0.9 61.3 26.8 - 89.0 89.0 Acquisitions in the 18 months ended October 31, 2018: HPE Software business (2,487.8 ) 4,143.7 4,858.3 6,514.2 - 6,514.2 COBOL-IT (3.0 ) 14.0 5.6 - 16.7 16.7 (2,490.8 ) 4,157.7 4,863.9 6,514.2 16.7 6,530.9 (2,489.8 ) 4,219.0 4,890.7 6,514.2 105.7 6,619.9 |
Interset Software Inc. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | The fair value review will be finalised in the 12-month period following completion. Carrying value at acquisition Fair value adjustments Fair value Note $m $m $m Intangible assets – purchased 1 11 - 61.2 61.2 Property, plant and equipment 12 0.3 - 0.3 Other non-current assets 0.2 - 0.2 Trade and other receivables 3.8 - 3.8 Cash and cash equivalent 1.2 - 1.2 Trade and other payables (1.5 ) - (1.5 ) Finance leases obligations – short-term (0.1 ) - (0.1 ) Provisions – short-term 24 (0.7 ) - (0.7 ) Deferred income – short-term 2 (2.1 ) 0.1 (2.0 ) Deferred income – long-term 2 (0.2 ) - (0.2 ) Net assets 0.9 61.3 62.2 Goodwill (note 10) 26.8 Consideration 89.0 Consideration satisfied by: Cash 89.0 The fair value adjustments relate to: 1 Purchased intangible assets of $61.2m ($44.5m Technology, $4.2m Trade names, $12.5m Customer Relationships) have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Interset. 2 Deferred income has been valued taking account of the remaining performance obligations . |
HPE Software Business [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value Note $m $m $m Intangible assets 11 72.8 6,467.0 6,539.8 Property, plant and equipment 12 160.1 - 160.1 Other non-current assets 41.9 - 41.9 Inventories 0.2 - 0.2 Trade and other receivables 721.2 - 721.2 Current tax recoverable 0.5 - 0.5 Cash and cash equivalents 320.7 - 320.7 Trade and other payables (686.8 ) 1.6 (685.2 ) Current tax liabilities (9.9 ) - (9.9 ) Borrowings (2,547.6 ) - (2,547.6 ) Short-term provisions 24 (30.2 ) - (30.2 ) Short-term deferred income 2 (701.2 ) 58.0 (643.2 ) Long-term deferred income 2 (116.9 ) 8.7 (108.2 ) Long-term provisions 24 (39.0 ) - (39.0 ) Retirement benefit obligations 25 (71.5 ) - (71.5 ) Other non-current liabilities (52.3 ) 12.1 (40.2 ) Deferred tax assets/(liabilities) 3 450.2 (2,403.7 ) (1,953.5 ) Net (liabilities)/assets (2,487.8 ) 4,143.7 1,655.9 Goodwill 10 - 4,858.3 Consideration 6,514.2 Consideration satisfied by: Shares 6,514.2 The fair value adjustments include: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of the HPE Software business; 2 Deferred income has been valued taking account of the remaining performance obligations; and 3 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 11): Fair value $m Technology 1,809.0 Customer relationships 4,480.0 Trade names 163.0 Leases 15.0 6,467.0 |
Serena Software, Inc. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $m $m $m Goodwill 462.4 (462.4 ) - Intangible assets - purchased - 317.7 317.7 Intangible assets 1 0.1 - 0.1 Property, plant and equipment 1.9 - 1.9 Other non-current assets 0.2 - 0.2 Deferred tax asset 15.3 - 15.3 Trade and other receivables 27.4 - 27.4 Cash and cash equivalents 65.8 - 65.8 Trade and other payables (27.7 ) - (27.7 ) Current tax liabilities (11.8 ) - (11.8 ) Borrowings – short term (4.0 ) - (4.0 ) Short-term provisions (3.2 ) - (3.2 ) Short-term deferred income 2 (72.3 ) 3.8 (68.5 ) Long-term deferred income 2 (14.9 ) 0.8 (14.1 ) Borrowings – long term (288.9 ) - (288.9 ) Other non-current liabilities (0.7 ) - (0.7 ) Deferred tax liabilities 3 (2.4 ) (109.2 ) (111.6 ) Net assets/(liabilities) 147.2 (249.3 ) (102.1 ) Goodwill - - 379.7 Consideration - - 277.6 Consideration satisfied by: 277.6 Cash 277.6 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Serena; 2 Deferred income has been valued taking account of the remaining performance obligations; and 3 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows: Fair value $m Technology 86.1 Customer relationships 210.2 Trade names 21.4 317.7 |
GWAVA Inc. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $m $m $m Intangible assets – purchased 1 - 5.3 5.3 Intangible assets 2 1.2 (1.2 ) - Property, plant and equipment 0.2 - 0.2 Trade and other receivables 3.0 - 3.0 Cash and cash equivalents 2.4 - 2.4 Trade and other payables (1.4 ) - (1.4 ) Short-term deferred income 3 (4.0 ) 0.3 (3.7 ) Long-term deferred income 3 (0.8 ) - (0.8 ) Deferred tax liabilities 4 - (1.4 ) (1.4 ) Net assets 0.6 3.0 3.6 Goodwill 12.8 Consideration 16.4 Consideration satisfied by: Cash 16.4 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of GWAVA Inc.; 2 Other intangible assets relating to historic IP has been written down to nil; 3 Deferred income has been valued taking account of the remaining performance obligations; and 4 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows: Fair value $m Technology 4.1 Customer relationships 0.5 Trade names 0.7 5.3 |
OpenATTIC [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $m $m $m Intangible assets – purchased technology - 5.0 5.0 Net assets - 5.0 5.0 Goodwill - Consideration - - 5.0 Consideration satisfied by: Cash 5.0 |
Cash Flow Statement (Tables)
Cash Flow Statement (Tables) | 12 Months Ended |
Oct. 31, 2019 | |
Cash Flow Statement [Abstract] | |
Cash Flow Statement | 12 months ended October 31, 2019 18 months ended October 31, 2018 12 months ended April 30, 2017 1 Note $m $m $m Cash flows from operating activities (Loss) / Profit from continuing operations (18.1 ) 707.2 124.1 Profit from discontinued operation 1,487.2 76.9 33.7 Profit for the period 1,469.1 784.1 157.8 Adjustments for: Gain on disposal of discontinued operation 37 (1,767.9 ) - - Net finance costs 6 255.8 342.7 95.8 Taxation – continuing operations 7 (16.0 ) (673.1 ) 38.5 Taxation – discontinued operation 37 318.1 34.2 - Share of results of associates 0.3 1.8 1.3 Operating profit (attributable to continuing and discontinued operations) 259.4 489.7 293.4 - continuing operations 221.7 376.8 293.4 - discontinued operation 37 37.7 112.9 - 259.4 489.7 293.4 Research and development tax credits (1.2 ) (2.0 ) (3.0 ) Depreciation 12 66.5 95.2 11.8 Loss on disposal of property, plant and equipment 3.6 4.7 0.5 Gain on disposal of Atalla 37, 4 (3.7 ) - - Amortization of intangible assets 11 716.5 943.3 236.4 Amortization of contract-related costs 10.2 - - Share-based compensation charge 33 71.3 72.2 34.5 Foreign exchange movements 11.1 (34.6 ) (4.9 ) Provisions movements 24 43.8 142.8 47.3 Changes in working capital: Inventories - 0.1 - Trade and other receivables 183.0 (408.8 ) 10.3 Increase in contract-related costs (36.7 ) - - Payables and other liabilities (114.8 ) 131.3 (33.3 ) Provision utilization 24 (58.6 ) (145.0 ) (43.5 ) Contract liabilities - deferred income (98.5 ) 131.4 15.5 Pension funding in excess of charge to operating profit 4.4 4.0 (0.2 ) Cash generated from operations 1,056.3 1,424.3 564.8 1 |
General information (Details)
General information (Details) | Oct. 31, 2019EmployeeCountry | Oct. 31, 2018EmployeeCountry | Apr. 30, 2017EmployeeCountry |
Disclosure of general information [Line Items] | |||
Number of countries located in | Country | 48 | 49 | 40 |
Number of employees | 12,100 | 14,800 | 4,800 |
SUSE [Member] | |||
Disclosure of general information [Line Items] | |||
Number of employees | 1,200 |
Significant Accounting polici_4
Significant Accounting policies, Basis of preparation and Consolidation (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Basis of Preparation [Abstract] | |||
Administrative expenses | $ 620.8 | $ 147.5 | $ 629.9 |
Cost of sales | 789.9 | 216.4 | 1,302.7 |
Selling and distribution costs | 1,224.8 | 363.2 | 1,764.2 |
Research and development expense | $ 491.2 | $ 122.8 | $ 680.8 |
Subsidiaries [abstract] | |||
Ownership interest | 100.00% | ||
Novell Japan Ltd [Member] | |||
Subsidiaries [abstract] | |||
Ownership interest | 84.24% | 74.70% | 81.05% |
Previously stated [member] | |||
Basis of Preparation [Abstract] | |||
Administrative expenses | $ 159 | ||
Prior Period Revision [Member] | |||
Basis of Preparation [Abstract] | |||
Administrative expenses | (159) | ||
Cost of sales | 43.4 | ||
Selling and distribution costs | 94.2 | ||
Research and development expense | $ 21.4 |
Significant Accounting polici_5
Significant Accounting policies, Revenue Recognition (Details) | 12 Months Ended |
Oct. 31, 2019 | |
Revenue recognition [Abstract] | |
Maintenance revenue, term of contract | 1 year |
Significant Accounting polici_6
Significant Accounting policies, Contract-related Costs (Details) | 12 Months Ended |
Oct. 31, 2019 | |
Contract-related costs [Abstract] | |
Average customer contract life | 5 years |
Top of range [member] | |
Contract-related costs [Abstract] | |
Expected amortization period of capitalized costs | 1 year |
Significant Accounting polici_7
Significant Accounting policies, Exchange Rates (Details) | 12 Months Ended | 18 Months Ended | |||||||||||||||||||||||||
Oct. 31, 2019$ / ₪ | Oct. 31, 2019$ / ₪$ / £ | Oct. 31, 2019$ / ₪$ / $ | Oct. 31, 2019$ / ₪$ / € | Oct. 31, 2019$ / ₪JPY (¥) | Apr. 30, 2017$ / ₪ | Apr. 30, 2017$ / ₪$ / £ | Apr. 30, 2017$ / ₪$ / $ | Apr. 30, 2017$ / ₪$ / € | Apr. 30, 2017$ / ₪JPY (¥) | Oct. 31, 2018$ / ₪ | Oct. 31, 2018$ / ₪$ / £ | Oct. 31, 2018$ / ₪$ / $ | Oct. 31, 2018$ / ₪$ / € | Oct. 31, 2018$ / ₪JPY (¥) | Oct. 31, 2019$ / £ | Oct. 31, 2019$ / $ | Oct. 31, 2019$ / € | Oct. 31, 2019JPY (¥) | Oct. 31, 2018$ / £ | Oct. 31, 2018$ / $ | Oct. 31, 2018$ / € | Oct. 31, 2018JPY (¥) | Apr. 30, 2017$ / £ | Apr. 30, 2017$ / $ | Apr. 30, 2017$ / € | Apr. 30, 2017JPY (¥) | |
Exchange rates [Abstract] | |||||||||||||||||||||||||||
Average | 0.28 | 1.27 | 0.75 | 1.12 | 110 | 0.26 | 1.29 | 0.76 | 1.09 | 91 | 0.28 | 1.33 | 0.78 | 1.18 | 90 | ||||||||||||
Closing | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 1.29 | 0.76 | 1.12 | 108 | 1.27 | 0.76 | 1.14 | 92 | 1.29 | 0.73 | 1.09 | 90 |
Significant Accounting polici_8
Significant Accounting policies, Intangible Assets (Details) | 12 Months Ended |
Oct. 31, 2019 | |
Computer Software [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Computer Software [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 7 years |
Product Development Costs [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Purchased Software [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Purchased Software [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 7 years |
Technology [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Technology [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 12 years |
Trade Names [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Trade Names [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 20 years |
Customer Relationships [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 2 years |
Customer Relationships [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 15 years |
Lease Contracts [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | Term of the lease agreement |
Significant Accounting polici_9
Significant Accounting policies, Property, Plant and Equipment (Details) | 12 Months Ended |
Oct. 31, 2019 | |
Buildings [member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 30 years |
Leasehold Improvements [Member] | Bottom of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 3 years |
Leasehold Improvements [Member] | Top of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 10 years |
Fixtures and Fittings [Member] | Bottom of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 2 years |
Fixtures and Fittings [Member] | Top of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 7 years |
Computer Equipment [Member] | Bottom of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 1 year |
Computer Equipment [Member] | Top of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful life | 5 years |
Significant Accounting polic_10
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Impact of IFRS 15 (Details) | 12 Months Ended |
Oct. 31, 2019 | |
Cost of Obtaining Customer Contracts [Abstract] | |
Customer life | 5 years |
Top of Range [Member] | |
Cost of Obtaining Customer Contracts [Abstract] | |
Sales commission's expected amortization period | 1 year |
SUSE [Member] | |
Cost of Obtaining Customer Contracts [Abstract] | |
Customer life | 6 years |
Significant Accounting polic_11
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Reclassification of Financial Instruments on Adoption of IFRS 9 (Details) - USD ($) $ in Millions | 18 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2019 | ||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Deferred tax asset | $ 0 | $ 0 | |
IFRS 9 Financial Instruments [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Increase in trade receivables loss allowance | 20 | ||
Decrease in retained earnings | (20) | ||
Deferred tax asset | $ 4.4 | ||
Non-current Borrowings (gross) [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 4,946.6 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 4,946.6 | ||
Non-current Finance Leases [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 14.9 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 14.9 | ||
Non-current Provisions [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 35.4 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 35.4 | ||
Current Borrowings (gross) [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 50.3 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 50.3 | ||
Current Finance Leases [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 13.6 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 13.6 | ||
Current Trade and Other Payables [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 676.9 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 676.9 | ||
Current Provisions [Member] | |||
Financial Liabilities - Financial Liabilities at Amortized Cost [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 57.4 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 57.4 | ||
Non-current Long-term Pension Assets [Member] | |||
Financial Assets [Abstract] | |||
Measurement category Under IAS 39 | Available-for-sale financial assets | ||
Measurement category Under IFRS 9 | Fair value through other comprehensive income | ||
Carrying amount Under IAS 39 | $ 16.7 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 16.7 | ||
Non-current Derivative Financial Instruments [Member] | |||
Financial Assets [Abstract] | |||
Measurement category Under IAS 39 | Fair value through profit and loss | ||
Measurement category Under IFRS 9 | Fair value through profit and loss | ||
Carrying amount Under IAS 39 | $ 86.4 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 86.4 | ||
Current Cash and Cash Equivalents [Member] | |||
Financial Assets [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 620.9 | ||
IFRS 9 Adjustment | [1] | 0 | |
Carrying amount Under IFRS 9 | $ 620.9 | ||
Current Trade and Other Receivables [Member] | |||
Financial Assets [Abstract] | |||
Measurement category Under IAS 39 | Amortized cost | ||
Measurement category Under IFRS 9 | Amortized cost | ||
Carrying amount Under IAS 39 | $ 1,212 | ||
IFRS 9 Adjustment | [1] | (20) | |
Carrying amount Under IFRS 9 | $ 1,192 | ||
[1] | The IFRS 9 adjustment of an increase in the trade receivables loss allowance of $20.0m resulted in a corresponding decrease in retained earnings of $20.0m, net of $4.4m of deferred tax. |
Significant Accounting polic_12
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Quantitative Impact of IFRS 15 and IFRS 9 (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Quantitative impact of IFRS 15 and IFRS 9 [Abstract] | ||
Deferred tax asset | $ 0 | $ 0 |
IFRS 15 [Member] | ||
Quantitative impact of IFRS 15 and IFRS 9 [Abstract] | ||
Corresponding assets | 52.4 | |
IFRS 9 [Member] | ||
Quantitative impact of IFRS 15 and IFRS 9 [Abstract] | ||
Corresponding liability | 20 | |
Deferred tax asset | $ 4.4 |
Significant Accounting polic_13
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Impact of IFRS 15 on Consolidated Statement of Comprehensive Income (Details) $ / shares in Units, $ in Millions | 12 Months Ended | 18 Months Ended | ||||||
Oct. 31, 2019USD ($)$ / shares | Oct. 31, 2019£ / shares | Apr. 30, 2017USD ($)$ / shares | Apr. 30, 2017£ / shares | Oct. 31, 2018USD ($)$ / shares | Oct. 31, 2018£ / shares | |||
Impact on Consolidated Statement of Comprehensive Income [Abstract] | ||||||||
Revenue | $ 3,348.4 | [1] | $ 1,077.3 | $ 4,754.4 | ||||
Operating profit | 221.7 | 227.4 | 376.8 | |||||
Finance costs | (282.4) | (96.8) | (350.4) | |||||
Finance income | 26.6 | 1 | 7.7 | |||||
Profit/(loss) before tax | (34.1) | [1] | 131.6 | 34.1 | ||||
Taxation | 16 | (7.5) | 673.1 | |||||
Profit/(loss) from continuing operations | (18.1) | 124.1 | [2] | 707.2 | ||||
Profit from discontinued operation (attributable to equity shareholders of the Company) | 1,487.2 | [1] | 33.7 | [2] | 76.9 | |||
Profit for the period | 1,469.1 | 157.8 | [2] | 784.1 | ||||
Attributable to: | ||||||||
Equity shareholders of the company | 1,468.8 | 157.9 | 784 | |||||
Non-controlling interests | $ 0.3 | $ (0.1) | $ 0.1 | |||||
From continuing and discontinued operations | ||||||||
Basic (in dollars per share) | (per share) | $ 3.8850 | £ 3.0507 | $ 0.6888 | £ 0.5325 | $ 2.0170 | £ 1.5161 | ||
Diluted (in dollars per share) | (per share) | 3.8435 | 3.0181 | 0.6651 | 0.5142 | 1.9617 | 1.4745 | ||
From continuing operations | ||||||||
Basic (in dollars per share) | (per share) | (0.0487) | (0.0382) | 0.5417 | 0.4188 | 1.8191 | 1.3673 | ||
Diluted (in dollars per share) | (per share) | $ (0.0487) | (0.0382) | $ 0.5231 | £ 0.4044 | $ 1.7692 | £ 1.3298 | ||
Previously Stated [Member] | ||||||||
Impact on Consolidated Statement of Comprehensive Income [Abstract] | ||||||||
Revenue | $ 3,332.3 | |||||||
Operating profit | 199.6 | |||||||
Finance costs | (282.4) | |||||||
Finance income | 26.6 | |||||||
Profit/(loss) before tax | (56.2) | |||||||
Taxation | 17.6 | |||||||
Profit/(loss) from continuing operations | (38.6) | |||||||
Profit from discontinued operation (attributable to equity shareholders of the Company) | 1,517.8 | |||||||
Profit for the period | 1,479.2 | |||||||
Attributable to: | ||||||||
Equity shareholders of the company | 1,478.9 | |||||||
Non-controlling interests | $ 0.3 | |||||||
From continuing and discontinued operations | ||||||||
Basic (in dollars per share) | (per share) | $ 3.9117 | 3.0717 | ||||||
Diluted (in dollars per share) | (per share) | 3.8699 | 3.0389 | ||||||
From continuing operations | ||||||||
Basic (in dollars per share) | (per share) | (0.1029) | (0.0808) | ||||||
Diluted (in dollars per share) | (per share) | $ (0.1029) | (0.0808) | ||||||
Adjustments [Member] | IFRS 15 [Member] | ||||||||
Impact on Consolidated Statement of Comprehensive Income [Abstract] | ||||||||
Revenue | $ (16.1) | |||||||
Operating profit | (22.1) | |||||||
Finance costs | 0 | |||||||
Finance income | 0 | |||||||
Profit/(loss) before tax | (22.1) | |||||||
Taxation | 1.6 | |||||||
Profit/(loss) from continuing operations | (20.5) | |||||||
Profit from discontinued operation (attributable to equity shareholders of the Company) | 30.6 | |||||||
Profit for the period | 10.1 | |||||||
Attributable to: | ||||||||
Equity shareholders of the company | 10.1 | |||||||
Non-controlling interests | $ 0 | |||||||
From continuing and discontinued operations | ||||||||
Basic (in dollars per share) | (per share) | $ 0.0267 | 0.0210 | ||||||
Diluted (in dollars per share) | (per share) | 0.0264 | 0.0208 | ||||||
From continuing operations | ||||||||
Basic (in dollars per share) | (per share) | (0.0542) | (0.0426) | ||||||
Diluted (in dollars per share) | (per share) | $ (0.0542) | £ (0.0426) | ||||||
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. | |||||||
[2] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Significant Accounting polic_14
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Impact of IFRS 15 on Consolidated Financial Position (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Non-current assets [Abstract] | ||
Contract-related costs | $ 31.5 | $ 0 |
Current assets [Abstract] | ||
Trade and other receivables | 1,032.9 | 1,272 |
Contract-related costs | 19.3 | 0 |
Current liabilities [Abstract] | ||
Trade and other payables | (611) | (676.9) |
Contract liabilities | (1,045.9) | (1,134.7) |
Non-current liabilities [Abstract] | ||
Contract liabilities | (149.9) | (178.1) |
Deferred tax liabilities | (987.1) | $ (1,170.5) |
Previously Stated [Member] | ||
Non-current assets [Abstract] | ||
Contract-related costs | 0 | |
Current assets [Abstract] | ||
Trade and other receivables | 1,032 | |
Contract-related costs | 0 | |
Current liabilities [Abstract] | ||
Trade and other payables | (611) | |
Contract liabilities | (1,045.9) | |
Non-current liabilities [Abstract] | ||
Contract liabilities | (149.9) | |
Deferred tax liabilities | (978.1) | |
Adjustments [Member] | IFRS 15 [Member] | ||
Non-current assets [Abstract] | ||
Contract-related costs | (31.5) | |
Current assets [Abstract] | ||
Trade and other receivables | (0.9) | |
Contract-related costs | (19.3) | |
Current liabilities [Abstract] | ||
Trade and other payables | 0 | |
Contract liabilities | 0 | |
Non-current liabilities [Abstract] | ||
Contract liabilities | 0 | |
Deferred tax liabilities | $ 9 |
Significant Accounting polic_15
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Impact of IFRS 15 Continuing and Discontinued Operation (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | [1] | Oct. 31, 2018 | |
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Amortized contract costs | $ 10.2 | $ 0 | $ 0 | |
Capitalized costs | 31.4 | 0 | ||
IFRS 15 [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Amortized contract costs | 10.2 | |||
Capitalized costs | 31.4 | |||
Net increase in profit before tax | 21.2 | |||
IFRS 15 [Member] | Increase / (Decrease) in Opening Retained Earnings [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 52.4 | |||
IFRS 15 [Member] | Increase / (Decrease) in Opening Retained Earnings [Member] | Cost of Obtaining Customer Contracts [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 64.7 | |||
IFRS 15 [Member] | Increase / (Decrease) in Opening Retained Earnings [Member] | Rebillable Expenses [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Increase / (Decrease) in Opening Retained Earnings [Member] | Consideration Payable to customer [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 5 | |||
IFRS 15 [Member] | Increase / (Decrease) in Opening Retained Earnings [Member] | Deferred Tax [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | $ (17.3) | |||
IFRS 15 [Member] | Increase / (Decrease) in Revenue, Continuing Operations [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 16.1 | |||
IFRS 15 [Member] | Increase / (Decrease) in Revenue, Continuing Operations [Member] | Cost of Obtaining Customer Contracts [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Increase / (Decrease) in Revenue, Continuing Operations [Member] | Rebillable Expenses [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 2.4 | |||
IFRS 15 [Member] | Increase / (Decrease) in Revenue, Continuing Operations [Member] | Consideration Payable to customer [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 13.7 | |||
IFRS 15 [Member] | Increase / (Decrease) in Revenue, Continuing Operations [Member] | Deferred Tax [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Increase / (Decrease) in Operating Expenses, Continuing Operations [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | (6) | |||
IFRS 15 [Member] | Increase / (Decrease) in Operating Expenses, Continuing Operations [Member] | Cost of Obtaining Customer Contracts [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | (21.2) | |||
IFRS 15 [Member] | Increase / (Decrease) in Operating Expenses, Continuing Operations [Member] | Rebillable Expenses [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 2.4 | |||
IFRS 15 [Member] | Increase / (Decrease) in Operating Expenses, Continuing Operations [Member] | Consideration Payable to customer [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 12.8 | |||
IFRS 15 [Member] | Increase / (Decrease) in Operating Expenses, Continuing Operations [Member] | Deferred Tax [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Increase / (Decrease) in Profit Before Tax [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 22.1 | |||
IFRS 15 [Member] | Increase / (Decrease) in Profit Before Tax [Member] | Cost of Obtaining Customer Contracts [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 21.2 | |||
IFRS 15 [Member] | Increase / (Decrease) in Profit Before Tax [Member] | Rebillable Expenses [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Increase / (Decrease) in Profit Before Tax [Member] | Consideration Payable to customer [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0.9 | |||
IFRS 15 [Member] | Increase / (Decrease) in Profit Before Tax [Member] | Deferred Tax [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Profit/(loss) from Discontinued Operation (Attributable to Equity Shareholders of the Company) [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | (30.6) | |||
IFRS 15 [Member] | Profit/(loss) from Discontinued Operation (Attributable to Equity Shareholders of the Company) [Member] | Cost of Obtaining Customer Contracts [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | (35.4) | |||
IFRS 15 [Member] | Profit/(loss) from Discontinued Operation (Attributable to Equity Shareholders of the Company) [Member] | Rebillable Expenses [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | 0 | |||
IFRS 15 [Member] | Profit/(loss) from Discontinued Operation (Attributable to Equity Shareholders of the Company) [Member] | Consideration Payable to customer [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | (5) | |||
IFRS 15 [Member] | Profit/(loss) from Discontinued Operation (Attributable to Equity Shareholders of the Company) [Member] | Deferred Tax [Member] | ||||
Impact on Continuing and Discontinued Operations [Abstract] | ||||
Impact on opening retained earnings | $ 9.8 | |||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Significant Accounting polic_16
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Retained Earnings Impact of IFRS 15 and IFRS 9 (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Impact on Retained Earnings [Abstract] | ||
Retained earnings | $ 2,250.7 | $ 3,275.2 |
Revised [Member] | ||
Impact on Retained Earnings [Abstract] | ||
Retained earnings | 3,312 | |
Adjustments [Member] | IFRS 15 [Member] | ||
Impact on Retained Earnings [Abstract] | ||
Retained earnings | 52.4 | |
Adjustments [Member] | IFRS 9 [Member] | ||
Impact on Retained Earnings [Abstract] | ||
Retained earnings | $ (15.6) |
Significant Accounting polic_17
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Effect of IFRS 16 on Consolidated Statement of Financial Position (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Effect of IFRS on the Consolidated Statement of Financial Position [Abstract] | ||
Finance lease liability | $ 23.5 | $ 28.5 |
IFRS 16 [Member] | Property, Plant and Equipment [Member] | ||
Effect of IFRS on the Consolidated Statement of Financial Position [Abstract] | ||
Finance lease asset | 20.9 | |
IFRS 16 [Member] | Bottom of Range [Member] | ||
Effect of IFRS on the Consolidated Statement of Financial Position [Abstract] | ||
Right to use leased assets | 241 | |
Contractual obligation | 286 | |
Decrease in retained earnings | 7 | |
IFRS 16 [Member] | Top of Range [Member] | ||
Effect of IFRS on the Consolidated Statement of Financial Position [Abstract] | ||
Right to use leased assets | 261 | |
Contractual obligation | 306 | |
Decrease in retained earnings | 7.8 | |
IFRS 17 [Member] | ||
Effect of IFRS on the Consolidated Statement of Financial Position [Abstract] | ||
Undiscounted non-cancellable operating lease commitments | 301.2 | $ 228 |
IFRS 17 [Member] | Property, Plant and Equipment [Member] | ||
Effect of IFRS on the Consolidated Statement of Financial Position [Abstract] | ||
Finance lease liability | $ 23.5 |
Significant Accounting polic_18
Significant Accounting policies, Critical Accounting Estimates and Assumptions (Details) $ in Millions | 12 Months Ended | |
Oct. 31, 2019USD ($)Swap | Oct. 31, 2018USD ($) | |
Foreign currency risk [Abstract] | ||
Foreign currency hedging transactions | $ 0 | $ 0 |
Interest rate risk [Abstract] | ||
Number of interest rate swaps | Swap | 4 | |
Detailed information about borrowings [Abstract] | ||
Borrowings | $ 4,670.7 | 4,845.9 |
Current borrowings | $ 0 | 3.7 |
Bottom of Range [Member] | ||
Detailed information about borrowings [Abstract] | ||
Onerous lease provisions expected maturity period | 12 months | |
Top of Range [Member] | ||
Detailed information about borrowings [Abstract] | ||
Onerous lease provisions expected maturity period | 8 years | |
Senior Secured Debt Facilities [Member] | ||
Detailed information about borrowings [Abstract] | ||
Borrowings | $ 4,775 | 4,996.9 |
Current borrowings | 0 | 50.3 |
Revolving Credit Facility [Member] | ||
Detailed information about borrowings [Abstract] | ||
Current borrowings | $ 0 | $ 0 |
Segmental reporting (Details)
Segmental reporting (Details) - Reportable Segments [Member] | 12 Months Ended |
Oct. 31, 2019SegmentSubportfolio | |
Reportable Segment [Abstract] | |
Number of historical operating segments | Segment | 2 |
Micro Focus Product Portfolio [Member] | |
Reportable Segment [Abstract] | |
Number of sub-portfolios | Subportfolio | 5 |
Segmental reporting, Reconcilli
Segmental reporting, Reconcilliation to Adjusted EBITDA (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |||
Reconciliation to Adjusted EBITDA | |||||
(Loss)/profit before tax | $ (34.1) | [1] | $ 131.6 | $ 34.1 | |
Finance costs | 282.4 | 96.8 | 350.4 | ||
Finance income | (26.6) | (1) | (7.7) | ||
Share based compensation charge | 68.8 | 31.5 | 64.3 | ||
Foreign exchange loss/(credit) | 18.2 | (2.9) | (37.4) | ||
Total assets | 14,294.8 | 16,780.6 | |||
Total liabilities | 8,018.5 | 8,988.6 | |||
Reportable Segments [Member] | Micro Focus Product Portfolio [Member] | |||||
Reconciliation to Adjusted EBITDA | |||||
(Loss)/profit before tax | (34.1) | 131.6 | [2] | 34.1 | |
Finance costs | 282.4 | 96.8 | [2] | 350.4 | |
Finance income | (26.6) | (1) | [2] | (7.7) | |
Depreciation of property, plant and equipment | 66.5 | 9.7 | [2] | 88.6 | |
Amortization of intangible assets | 716.5 | 206.7 | [2] | 903.1 | |
Exceptional items (reported in Operating profit) | 294.2 | 97.2 | [2] | 538.2 | |
Share based compensation charge | 68.8 | 31.5 | [2] | 64.3 | |
Product development, intangible costs capitalized | (16.5) | (27.6) | [2] | (44.4) | |
Foreign exchange loss/(credit) | 11.3 | (2.9) | [2] | (37.4) | |
Adjusted EBITDA | $ 1,362.5 | $ 542 | [2] | $ 1,889.2 | |
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. | ||||
[2] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Supplementary information, Anal
Supplementary information, Analysis of revenue by geography (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Geographical areas [Abstract] | ||||
Revenue | $ 3,348.4 | [1] | $ 1,077.3 | $ 4,754.4 |
UK [Member] | ||||
Geographical areas [Abstract] | ||||
Revenue | 206.9 | 52.2 | 299.6 | |
Non-current assets other than financial instruments and deferred tax assets | 147.7 | |||
USA [Member] | ||||
Geographical areas [Abstract] | ||||
Revenue | 1,523 | 551.5 | 2,279.8 | |
Non-current assets other than financial instruments and deferred tax assets | 4,623 | 3,778.7 | 5,145.8 | |
Germany [Member] | ||||
Geographical areas [Abstract] | ||||
Revenue | 220.7 | 86.8 | 309.5 | |
France [Member] | ||||
Geographical areas [Abstract] | ||||
Revenue | 123.3 | 43.2 | 195.5 | |
Japan [Member] | ||||
Geographical areas [Abstract] | ||||
Revenue | 108.6 | 42.4 | 145.8 | |
Other [Member] | ||||
Geographical areas [Abstract] | ||||
Revenue | 1,165.9 | 301.2 | 1,524.2 | |
Non-current assets other than financial instruments and deferred tax assets | $ 8,192.2 | $ 67.3 | $ 8,488.3 | |
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |
Supplementary information, An_2
Supplementary information, Analysis of Revenue from Contracts with Customers (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Analysis of revenue from contracts with customers [Abstract] | ||||
Revenue from contracts with customers | $ 3,348.4 | $ 1,077.3 | $ 4,754.4 | |
Total Revenue | 3,348.4 | [1] | 1,077.3 | 4,754.4 |
Maintenance [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 2,051.6 | 720.7 | 2,818.9 | |
SaaS & Other Recurring [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 278.9 | 0 | 365.1 | |
Licence [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 800 | 308.4 | 1,206.1 | |
Consulting [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 217.9 | 48.2 | 364.3 | |
Recognized over time [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 2,330.5 | 720.7 | 3,184 | |
Recognized over time [Member] | Maintenance [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 2,051.6 | 720.7 | 2,818.9 | |
Recognized over time [Member] | SaaS & Other Recurring [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 278.9 | 0 | 365.1 | |
Recognized at point in time [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 1,017.9 | 356.6 | 1,570.4 | |
Recognized at point in time [Member] | Licence [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | 800 | 308.4 | 1,206.1 | |
Recognized at point in time [Member] | Consulting [Member] | ||||
Analysis of revenue from contracts with customers [Abstract] | ||||
Total Revenue | $ 217.9 | $ 48.2 | $ 364.3 | |
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |
Supplementary information, An_3
Supplementary information, Analysis of Revenue by Product (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | $ 3,355.2 | $ 1,084.2 | $ 4,815.5 | |
Deferred revenue haircut | (6.8) | (6.9) | (61.1) | |
Total Revenue | 3,348.4 | [1] | 1,077.3 | 4,754.4 |
Licence [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 800 | 308.4 | 1,213.7 | |
Deferred revenue haircut | 0 | 0 | (7.6) | |
Total Revenue | 800 | 308.4 | 1,206.1 | |
Maintenance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 2,057.6 | 727.6 | 2,861.6 | |
Deferred revenue haircut | (6) | (6.9) | (42.7) | |
Total Revenue | 2,051.6 | 720.7 | 2,818.9 | |
Consulting [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 217.9 | 48.2 | 366.3 | |
Deferred revenue haircut | 0 | 0 | (2) | |
Total Revenue | 217.9 | 48.2 | 364.3 | |
SaaS & Other Recurring [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 279.7 | 0 | 373.9 | |
Deferred revenue haircut | (0.8) | 0 | (8.8) | |
Total Revenue | 278.9 | 0 | 365.1 | |
Application Modernisation & Connectivity [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 508.7 | 265.2 | 771.8 | |
Application Modernisation & Connectivity [Member] | Licence [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 170.9 | 106 | 256.3 | |
Application Modernisation & Connectivity [Member] | Maintenance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 326.1 | 149.7 | 497.6 | |
Application Modernisation & Connectivity [Member] | Consulting [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 11.7 | 9.5 | 17.9 | |
Application Modernisation & Connectivity [Member] | SaaS & Other Recurring [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 0 | 0 | 0 | |
Application Delivery Management [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 721.7 | 175.9 | 987.9 | |
Application Delivery Management [Member] | Licence [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 130.3 | 69.1 | 185.5 | |
Application Delivery Management [Member] | Maintenance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 485.4 | 104.9 | 646.7 | |
Application Delivery Management [Member] | Consulting [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 18.2 | 1.9 | 41.6 | |
Application Delivery Management [Member] | SaaS & Other Recurring [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 87.8 | 0 | 114.1 | |
IT Operations Management [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 1,021.8 | 208.3 | 1,440.9 | |
IT Operations Management [Member] | Licence [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 237.5 | 48.6 | 363.1 | |
IT Operations Management [Member] | Maintenance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 645.8 | 141.3 | 869.9 | |
IT Operations Management [Member] | Consulting [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 127.5 | 18.4 | 192.8 | |
IT Operations Management [Member] | SaaS & Other Recurring [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 11 | 0 | 15.1 | |
Security [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 681.3 | 288.9 | 994.8 | |
Security [Member] | Licence [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 185.7 | 55.5 | 291.6 | |
Security [Member] | Maintenance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 416.7 | 219.6 | 580.2 | |
Security [Member] | Consulting [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 43.9 | 13.8 | 81.4 | |
Security [Member] | SaaS & Other Recurring [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 35 | 0 | 41.6 | |
Information Management & Governance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 421.7 | 145.9 | 620.1 | |
Information Management & Governance [Member] | Licence [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 75.6 | 29.2 | 117.2 | |
Information Management & Governance [Member] | Maintenance [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 183.6 | 112.1 | 267.2 | |
Information Management & Governance [Member] | Consulting [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | 16.6 | 4.6 | 32.6 | |
Information Management & Governance [Member] | SaaS & Other Recurring [Member] | ||||
Revenue by product [Abstract] | ||||
Revenue before deferred revenue haircut | $ 145.9 | $ 0 | $ 203.1 | |
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |
Profit before tax (Details)
Profit before tax (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Disclosure of Profit before tax [Abstract] | |||
Staff costs | $ 1,409 | $ 480.7 | $ 2,095 |
Depreciation of property, plant and equipment [Abstract] | |||
Owned assets | 52.6 | 9.7 | 71.2 |
Leased assets | 13.9 | 0 | 17.4 |
Loss on disposal of property, plant and equipment | 3.6 | 0.5 | 4.7 |
Amortization of intangibles | 716.5 | 206.7 | 903.1 |
Inventories [Abstract] | |||
Cost of inventories recognized as a debit (included in cost of sales) | 0.1 | 0 | 0.3 |
Operating lease rentals payable [Abstract] | |||
Plant and machinery | 7 | 2.9 | 8.8 |
Property | 58.9 | 18.4 | 85.3 |
Provision for receivables impairment | 16 | 2 | 40 |
Foreign exchange gain on derivative financial instruments | (6.9) | 0 | 0 |
Foreign exchange loss/(gain) | $ 18.2 | $ (2.9) | $ (37.4) |
Exceptional items (Details)
Exceptional items (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |||
Reported within Operating profit [Abstract] | |||||
Gain on disposal of Atalla | $ (3.7) | $ 0 | [1] | $ 0 | |
Operating profit | (221.7) | (227.4) | (376.8) | ||
Reported within finance costs [Abstract] | |||||
Finance costs incurred in escrow period | 0 | 0 | 6.4 | ||
Reported within finance income [Abstract] | |||||
Finance income earned in escrow period | 0 | 0 | (0.6) | ||
Finance income (costs) incurred in escrow period | 0 | 0 | 5.8 | ||
(Loss)/Profit before tax | 34.1 | [2] | (131.6) | (34.1) | |
Tax [Abstract] | |||||
Total tax (credit)/expense | (16) | 7.5 | (673.1) | ||
Reported within profit from discontinued operation (attributable to equity shareholders of the Company) [Abstract] | |||||
Gain on disposal of discontinued operation | (1,487.2) | [2] | (33.7) | [1] | (76.9) |
Exceptional Items Adjustments [Member] | |||||
Reported within Operating profit [Abstract] | |||||
Integration costs | 245.9 | 27.6 | 279 | ||
Pre-acquisition costs | 0 | 58 | 43 | ||
Acquisition costs | 1.5 | 2.6 | 27.1 | ||
Property related costs | 16.3 | 5.6 | 38.1 | ||
Severance and legal costs | 32.1 | 3.4 | 129.7 | ||
Divestiture | 2.1 | 0 | 21.3 | ||
Gain on disposal of Atalla | (3.7) | 0 | 0 | ||
Operating profit | 294.2 | 97.2 | 538.2 | ||
Reported within finance costs [Abstract] | |||||
Finance costs incurred in escrow period | 0 | 0 | 6.4 | ||
Reported within finance income [Abstract] | |||||
Finance income earned in escrow period | 0 | 0 | (0.6) | ||
Finance income (costs) incurred in escrow period | 0 | 0 | 5.8 | ||
(Loss)/Profit before tax | 294.2 | 97.2 | 544 | ||
Tax [Abstract] | |||||
Tax effect of exceptional items | (54.3) | (11.6) | (105.9) | ||
Tax exceptional item | 0 | 0 | (692.3) | ||
Total tax (credit)/expense | (54.3) | (11.6) | (798.2) | ||
Reported within profit from discontinued operation (attributable to equity shareholders of the Company) [Abstract] | |||||
Gain on disposal of discontinued operation | (1,458.5) | 0 | 0 | ||
Exceptional profit after tax | $ (1,218.6) | $ 85.6 | $ (254.2) | ||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) | ||||
[2] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |
Exceptional items, Summary of C
Exceptional items, Summary of Costs, Divestiture and Tax (Details) - USD ($) $ in Millions | Sep. 01, 2017 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Exceptional items summary [Abstract] | |||||
Gain on disposal of Atalla | $ 3.7 | $ 0 | [1] | $ 0 | |
Finance costs | 282.4 | 96.8 | 350.4 | ||
Finance income | 26.6 | 1 | 7.7 | ||
Taxation | $ 16 | (7.5) | 673.1 | ||
Tax credit from re-measurement of deferred tax liabilities | 930.6 | ||||
Transition tax charge | 238.3 | ||||
Transition tax charge payable period | 8 years | ||||
HPE Software Business [Member] | |||||
Exceptional items summary [Abstract] | |||||
Acquisition costs | $ 70.1 | ||||
Exceptional Items Adjustments [Member] | |||||
Exceptional items summary [Abstract] | |||||
Integration costs | $ 245.9 | 27.6 | 279 | ||
Pre-acquisition costs | 0 | 58 | 43 | ||
Acquisition costs | 1.5 | 2.6 | 27.1 | ||
Property related costs | 16.3 | 5.6 | 38.1 | ||
Severance and legal costs | 32.1 | 3.4 | 129.7 | ||
Gain on disposal of Atalla | 3.7 | 0 | 0 | ||
Divestiture costs | 2.1 | 0 | 21.3 | ||
Finance costs | 0 | 0 | 6.4 | ||
Finance income | 0 | 0 | 0.6 | ||
Taxation | 54.3 | 11.6 | 798.2 | ||
Tax exceptional item | 0 | 0 | (692.3) | ||
Exceptional Items Adjustments [Member] | HPE Software Business [Member] | |||||
Exceptional items summary [Abstract] | |||||
Pre-acquisition costs | 0 | 58 | 43 | ||
Acquisition costs | 1.5 | 27.1 | |||
Severance and legal costs | 32.1 | 129.7 | |||
Finance costs | 0 | 0 | 6.4 | ||
Finance income | 0 | 0 | 0.6 | ||
Exceptional Items Adjustments [Member] | Serena and GWAVA [Member] | |||||
Exceptional items summary [Abstract] | |||||
Acquisition costs | 2.6 | ||||
Exceptional Items Adjustments [Member] | Serena [Member] | |||||
Exceptional items summary [Abstract] | |||||
Severance and legal costs | 3.4 | ||||
Exceptional Items Adjustments [Member] | SUSE [Member] | |||||
Exceptional items summary [Abstract] | |||||
Divestiture costs | $ 2.1 | $ 0 | $ 21.3 | ||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Services provided by the Grou_3
Services provided by the Group's auditors and network of firms (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Services provided by the Group's auditors and network of firms [Abstract] | |||
Audit of Company | $ 12.8 | $ 1 | $ 12.2 |
Audit of subsidiaries | 3.9 | 2.5 | 1.9 |
Total audit | 16.7 | 3.5 | 14.1 |
Audit related assurance services | 3.6 | 2.6 | 0.9 |
Other assurance services | 0 | 0 | 0.7 |
Total assurance services | 3.6 | 2.6 | 1.6 |
Tax compliance services | 0 | 0 | 0.2 |
Tax advisory services | 0.1 | 0.1 | 0.2 |
Services relating to taxation | 0.1 | 0.1 | 0.4 |
Other non-audit services | 0 | 7.5 | 0.1 |
Total | 20.4 | $ 13.7 | $ 16.2 |
Audit related assurance services relating to implementation of Sarbanes-Oxley Section 404 | $ 3 |
Finance income and finance co_3
Finance income and finance costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Finance costs [Abstract] | |||
Interest on bank borrowings | $ 225.4 | $ 81.2 | $ 276.5 |
Commitment fees | 1.9 | 0.8 | 3.3 |
Amortization of facility costs and original issue discounts | 46.7 | 14.2 | 60.4 |
Finance costs on bank borrowings | 274 | 96.2 | 340.2 |
Net interest expense on retirement obligations | 2.4 | 0.6 | 2.8 |
Finance lease expense | 2 | 0 | 2.7 |
Interest rate swaps: cash flow hedges, transfer from equity | 0 | 0 | 3.4 |
Other | 4 | 0 | 1.3 |
Total | 282.4 | 96.8 | 350.4 |
Finance income [Abstract] | |||
Bank interest | 16.3 | 0.4 | 3.6 |
Interest on non-plan pension assets | 0.3 | 0.4 | 0.6 |
Interest rate swaps cash flow hedges, transfer to equity | 9.9 | 0 | 0 |
Other | 0.1 | 0.2 | 3.5 |
Total | 26.6 | 1 | 7.7 |
Net finance cost | 255.8 | 95.8 | 342.7 |
Included within exceptional items [Abstract] | |||
Finance costs incurred in escrow period | 0 | 0 | 6.4 |
Finance income earned in escrow period | 0 | 0 | (0.6) |
Finance income (costs) incurred in escrow period | $ 0 | $ 0 | $ 5.8 |
Taxation, Current and Deferred
Taxation, Current and Deferred Tax (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Current Tax [Abstract] | |||
Current period | $ 163.9 | $ 33.9 | $ 245.8 |
Adjustments to tax in respect of previous periods | (35.3) | 1.7 | (14.7) |
Current tax | 128.6 | 35.6 | 231.1 |
Deferred Tax [Abstract] | |||
Origination and reversal of temporary differences | (139.7) | (22.4) | 26.4 |
Adjustments to tax in respect of previous periods | 24.5 | (4.4) | 1.2 |
Previously unrecognized temporary differences | (29.4) | 0 | 0 |
Impact of change in tax rates | 0 | (1.3) | (931.8) |
Deferred tax | (144.6) | (28.1) | (904.2) |
Total tax (credit)/expense | (16) | 7.5 | (673.1) |
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | |||
Deferred tax relating to items credited (debited) directly to equity | (7.6) | (23.7) | |
Current tax relating to items credited (charged) directly to hedging reserve | 23.3 | (16.4) | |
Deferred tax relating to items credited directly to foreign exchange movements on intangibles | 14 | 0 | 0 |
Defined Benefit Pension Schemes [Member] | |||
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | |||
Deferred tax relating to items credited (debited) directly to equity | 13 | (0.3) | 4.3 |
Share Options [Member] | |||
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | |||
Deferred tax relating to items credited (debited) directly to equity | (7.6) | 23 | (23.7) |
Current tax relating to items credited (debited) directly to equity | $ 13.1 | $ 4.1 | $ 4.1 |
Taxation, Differences in Tax Ch
Taxation, Differences in Tax Charges (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Differences in Income Tax [Abstract] | ||||
(Loss)/profit before taxation | $ (34.1) | [1] | $ 131.6 | $ 34.1 |
Tax at UK corporation tax rate 19.00% (2018: 19.00%; 2017: 19.92%) | (6.5) | 26 | 6.5 | |
Effects of [Abstract] | ||||
Tax rates other than the UK standard rate | (4.4) | 0.6 | 17.8 | |
Intra-Group financing | (42.8) | (15.7) | (52.5) | |
Interest restrictions | 0 | 0 | 31.8 | |
Innovation tax credit benefits | (13.5) | (9.8) | (21.4) | |
US foreign inclusion income | 43.7 | 0.4 | 39 | |
US transition tax | 0 | 0 | 238.3 | |
Share options | 7.1 | 0 | 10.2 | |
Movement in deferred tax not recognized | 14.4 | 0.2 | 7.3 | |
Previously unrecognized temporary differences | (29.4) | 0 | 0 | |
Effect of change in tax rates | 0 | (1.3) | (931.9) | |
Expenses not deductible and other permanent differences | 26.2 | 9.8 | (4.7) | |
Effect of income tax | (5.2) | 10.2 | (659.6) | |
Adjustments to tax in respect of previous periods [Abstract] | ||||
Current tax | (35.3) | 1.7 | (14.7) | |
Deferred tax | 24.5 | (4.4) | 1.2 | |
Adjustments to tax in respect of previous periods | (10.8) | (2.7) | (13.5) | |
Total tax (credit)/expense | $ (16) | $ 7.5 | $ (673.1) | |
UK [Member] | ||||
Tax rate [Abstract] | ||||
Tax rate | 19.00% | 19.92% | 19.00% | |
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |
Taxation, Benefit Offered by Ju
Taxation, Benefit Offered by Jurisdictions (Details) $ in Millions | 12 Months Ended |
Oct. 31, 2019USD ($) | |
Tax rate [Abstract] | |
Uncertain tax positions | $ 8.1 |
Irrecoverable withholding tax | 6.1 |
Maximum potential tax liability | $ 60.3 |
Dividends (Details)
Dividends (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Equity - ordinary [Abstract] | |||
Final paid | $ 240.7 | $ 111 | $ 133.9 |
First interim paid | 198.5 | 66.5 | 156.2 |
Second interim paid | 0 | 0 | 252.1 |
Total dividend paid | $ 439.2 | $ 177.5 | $ 542.2 |
Final paid (in dollars per share) | $ 0.5833 | $ 0.4974 | $ 0.5833 |
First Interim paid (in dollars per share) | 0.5833 | 0.2973 | 0.3460 |
Second interim paid (in dollars per share) | 0 | $ 0 | $ 0.5833 |
Final dividend payable (in dollars per share) | $ 0.5833 | ||
Final dividend payable date | May 7, 2020 | ||
Dividend payable record date | Apr. 14, 2020 | ||
Unrecognized final dividend | $ 194.5 |
Earnings per share (Details)
Earnings per share (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | 18 Months Ended | |||||||||||||||||||||||||||
Oct. 31, 2019shares | Oct. 31, 2019USD ($) | Oct. 31, 2019£ / shares | Oct. 31, 2019$ / shares | Oct. 31, 2019$ / ₪ | Oct. 31, 2019$ / £ | Oct. 31, 2019$ / $ | Oct. 31, 2019$ / € | Oct. 31, 2019JPY (¥) | Apr. 30, 2017shares | Apr. 30, 2017USD ($) | Apr. 30, 2017£ / shares | Apr. 30, 2017$ / shares | Apr. 30, 2017$ / ₪ | Apr. 30, 2017$ / £ | Apr. 30, 2017$ / $ | Apr. 30, 2017$ / € | Apr. 30, 2017JPY (¥) | Oct. 31, 2018shares | Oct. 31, 2018USD ($) | Oct. 31, 2018£ / shares | Oct. 31, 2018$ / shares | Oct. 31, 2018$ / ₪ | Oct. 31, 2018$ / £ | Oct. 31, 2018$ / $ | Oct. 31, 2018$ / € | Oct. 31, 2018JPY (¥) | |||
Earnings [Abstract] | |||||||||||||||||||||||||||||
(Loss)/profit for the period from continuing operations | $ (18.1) | $ 124.1 | [1] | $ 707.2 | |||||||||||||||||||||||||
From discontinued operation | 1,487.2 | [2] | 33.7 | [1] | 76.9 | ||||||||||||||||||||||||
Profit for the period | 1,469.1 | 157.8 | [1] | 784.1 | |||||||||||||||||||||||||
Number of shares [Abstract] | |||||||||||||||||||||||||||||
Weighted average number of shares (in shares) | shares | 378.1 | 229.2 | 388.7 | ||||||||||||||||||||||||||
Dilutive effects of shares (in shares) | shares | 4.1 | 8.2 | 11 | ||||||||||||||||||||||||||
Number of shares (in shares) | shares | 382.2 | 237.4 | 399.7 | ||||||||||||||||||||||||||
Basic earnings per share [Abstract] | |||||||||||||||||||||||||||||
Continuing operations (in dollars / pounds per share) | (per share) | £ (0.0382) | $ (0.0487) | £ 0.4188 | $ 0.5417 | £ 1.3673 | $ 1.8191 | |||||||||||||||||||||||
Discontinued operation (in dollars / pounds per share) | (per share) | 3.0889 | 3.9337 | 0.1137 | 0.1471 | 0.1488 | 0.1979 | |||||||||||||||||||||||
Total Basic earnings per share (in dollars / pounds per share) | (per share) | 3.0507 | 3.8850 | 0.5325 | 0.6888 | 1.5161 | 2.0170 | |||||||||||||||||||||||
Diluted earnings per share [Abstract] | |||||||||||||||||||||||||||||
Continuing operations (in dollars / pounds per share) | (per share) | (0.0382) | (0.0487) | 0.4044 | 0.5231 | 1.3298 | 1.7692 | |||||||||||||||||||||||
Discontinued operation (in dollars / pounds per share) | (per share) | 3.0559 | 3.8916 | 0.1098 | 0.1420 | 0.1447 | 0.1925 | |||||||||||||||||||||||
Total Diluted earnings per share (in dollars / pounds per share) | (per share) | £ 3.0181 | $ 3.8435 | £ 0.5142 | $ 0.6651 | £ 1.4745 | $ 1.9617 | |||||||||||||||||||||||
Earnings attributable to ordinary shareholders [Abstract] | |||||||||||||||||||||||||||||
Profit/(loss) from continuing operations | (18.1) | 124.1 | [1] | 707.2 | |||||||||||||||||||||||||
Excluding non-controlling interests | (0.3) | 0.1 | (0.1) | ||||||||||||||||||||||||||
(Loss)/profit for the period from continuing operations | (18.4) | 124.2 | 707.1 | ||||||||||||||||||||||||||
From discontinued operation | 1,487.2 | [2] | 33.7 | [1] | 76.9 | ||||||||||||||||||||||||
Earnings attributable to ordinary shareholders | $ 1,468.8 | $ 157.9 | $ 784 | ||||||||||||||||||||||||||
Average exchange rate | 0.28 | 1.27 | 0.75 | 1.12 | 110 | 0.26 | 1.29 | 0.76 | 1.09 | 91 | 0.28 | 1.33 | 0.78 | 1.18 | 90 | ||||||||||||||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) | ||||||||||||||||||||||||||||
[2] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Goodwill, Adjustments [Abstract] | |||
Goodwill, cost and net book amount, Beginning period | $ 6,805 | $ 2,828.6 | |
Acquisitions | 26.8 | 4,863.9 | |
Effects of movements in exchange rates | (160.5) | 0 | |
Reclassification to assets held for sale | 0 | (887.5) | |
Goodwill, cost and net book amount, Ending period | 6,671.3 | $ 2,828.6 | 6,805 |
Decrease in carrying value of goodwill | $ 69.4 | 154.9 | |
Prior-period impact of decrease in carrying value of goodwill | 224.3 | ||
Foreign Operations [Member] | |||
Goodwill, Adjustments [Abstract] | |||
Acquisitions | 6,497.5 | ||
Interset Software Inc. [Member] | |||
Goodwill, Adjustments [Abstract] | |||
Acquisitions | 26.8 | ||
HPE Software Business [Member] | |||
Goodwill, Adjustments [Abstract] | |||
Acquisitions | 4,858.3 | ||
COBOL-IT [Member] | |||
Goodwill, Adjustments [Abstract] | |||
Acquisitions | 5.6 | ||
Micro Focus Product Portfolio [Member] | |||
Goodwill, Adjustments [Abstract] | |||
Goodwill, cost and net book amount, Beginning period | 6,805 | ||
Goodwill, cost and net book amount, Ending period | $ 6,671.3 | $ 6,805 |
Goodwill, Key assumptions (Deta
Goodwill, Key assumptions (Details) | Oct. 31, 2019 | Oct. 31, 2018 | |
Goodwill [Abstract] | |||
Long-term growth rate | 1.00% | 1.00% | |
Pre-tax discount rate | [1] | 10.30% | 9.70% |
Medium term annual revenue growth rate by product group | [2] | 0.00% | |
Post-tax discount rate | 8.00% | 7.80% | |
Bottom of Range [Member] | |||
Goodwill [Abstract] | |||
Medium term annual revenue growth rate by product group | 2.00% | ||
Top of Range [Member] | |||
Goodwill [Abstract] | |||
Medium term annual revenue growth rate by product group | 2.10% | ||
[1] | This equates to a Post-tax discount rate of 8.0% (2018: 7.8%). | ||
[2] | Medium term annual revenue growth rate by product group was not a key assumption in 2018 and so has not been presented. |
Goodwill, Sensitivity analysis
Goodwill, Sensitivity analysis (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Goodwill [Abstract] | ||
Discount rate | 0.40% | 1.30% |
Increase in discount rate | 10.70% | 11.00% |
Goodwill recoverable amount exceeds carrying value | $ 0.5 | $ 2.2 |
Change in goodwill recoverable amount exceeds carrying value, due to change in discount rate | $ 0 | 0 |
Decrease in average of medium term annual revenue growth rate | 0.70% | |
Goodwill impairment amount | $ 0 | $ 0 |
Micro Focus CGU [Member] | ||
Goodwill [Abstract] | ||
Change in discount rate | 2.00% | 2.00% |
Other intangible assets (Detail
Other intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | $ 6,629.3 | $ 1,089.3 |
Other Intangible Assets, ending | 5,942.3 | 6,629.3 |
Purchased Software [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 91 | 3.6 |
Other Intangible Assets, ending | 69.8 | 91 |
Product Development Costs [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 52.4 | 49.1 |
Other Intangible Assets, ending | 42.7 | 52.4 |
Technology [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 1,679.6 | 175.9 |
Other Intangible Assets, ending | 1,509.7 | 1,679.6 |
Trade Names [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 218.8 | 200.8 |
Other Intangible Assets, ending | 199.3 | 218.8 |
Customer Relationships [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 4,575.7 | 659.9 |
Other Intangible Assets, ending | 4,119 | 4,575.7 |
Lease Contracts [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 11.8 | 0 |
Other Intangible Assets, ending | 1.8 | 11.8 |
Cost [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 8,218.6 | 1,849.3 |
Additions | 28.8 | |
Disposals | (26.5) | |
Effects of movements in exchange rates | (94.8) | |
Other Intangible Assets, ending | 8,187.8 | 8,218.6 |
Cost [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 8,218.6 | |
Additions | 91.2 | |
Effects of movements in exchange rates | (0.4) | |
Other Intangible Assets, ending | 8,218.6 | |
Cost [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | (278.7) | |
Cost [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 61.2 | |
Cost [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 6,539.8 | |
Cost [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 14 | |
Cost [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 2.5 | |
Cost [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0.5 | |
Cost [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0.9 | |
Cost [Member] | Purchased Software [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 141.1 | 24.6 |
Additions | 12.3 | |
Disposals | (7.4) | |
Effects of movements in exchange rates | 0.7 | |
Other Intangible Assets, ending | 146.7 | 141.1 |
Cost [Member] | Purchased Software [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 141.1 | |
Additions | 46.8 | |
Effects of movements in exchange rates | (0.4) | |
Other Intangible Assets, ending | 141.1 | |
Cost [Member] | Purchased Software [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | (5.2) | |
Cost [Member] | Purchased Software [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Purchased Software [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 72.8 | |
Cost [Member] | Purchased Software [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Purchased Software [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 2.5 | |
Cost [Member] | Purchased Software [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Purchased Software [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Product Development Costs [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 259.1 | 213.8 |
Additions | 16.5 | |
Disposals | (19.1) | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 257 | 259.1 |
Cost [Member] | Product Development Costs [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 259.1 | |
Additions | 44.4 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 259.1 | |
Cost [Member] | Product Development Costs [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | 0 | |
Cost [Member] | Product Development Costs [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Product Development Costs [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Product Development Costs [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Product Development Costs [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Product Development Costs [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0.5 | |
Cost [Member] | Product Development Costs [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0.9 | |
Cost [Member] | Technology [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 2,158.5 | 398.9 |
Additions | 0 | |
Disposals | 0 | |
Effects of movements in exchange rates | (24.4) | |
Other Intangible Assets, ending | 2,178.6 | 2,158.5 |
Cost [Member] | Technology [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 2,158.5 | |
Additions | 0 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 2,158.5 | |
Cost [Member] | Technology [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | (50.9) | |
Cost [Member] | Technology [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 44.5 | |
Cost [Member] | Technology [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 1,809 | |
Cost [Member] | Technology [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 1.5 | |
Cost [Member] | Technology [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Technology [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Technology [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Trade Names [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 267.7 | 239.6 |
Additions | 0 | |
Disposals | 0 | |
Effects of movements in exchange rates | (4.6) | |
Other Intangible Assets, ending | 267.3 | 267.7 |
Cost [Member] | Trade Names [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 267.7 | |
Additions | 0 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 267.7 | |
Cost [Member] | Trade Names [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | (135.1) | |
Cost [Member] | Trade Names [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 4.2 | |
Cost [Member] | Trade Names [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 163 | |
Cost [Member] | Trade Names [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0.2 | |
Cost [Member] | Trade Names [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Trade Names [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Trade Names [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Customer Relationships [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 5,377.2 | 972.4 |
Additions | 0 | |
Disposals | 0 | |
Effects of movements in exchange rates | (66.4) | |
Other Intangible Assets, ending | 5,323.3 | 5,377.2 |
Cost [Member] | Customer Relationships [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 5,377.2 | |
Additions | 0 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 5,377.2 | |
Cost [Member] | Customer Relationships [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | (87.5) | |
Cost [Member] | Customer Relationships [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 12.5 | |
Cost [Member] | Customer Relationships [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 4,480 | |
Cost [Member] | Customer Relationships [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 12.3 | |
Cost [Member] | Customer Relationships [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Customer Relationships [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Customer Relationships [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Lease Contracts [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 15 | 0 |
Additions | 0 | |
Disposals | 0 | |
Effects of movements in exchange rates | (0.1) | |
Other Intangible Assets, ending | 14.9 | 15 |
Cost [Member] | Lease Contracts [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 15 | |
Additions | 0 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 15 | |
Cost [Member] | Lease Contracts [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Reclassification to current assets classified as held for sale | 0 | |
Cost [Member] | Lease Contracts [Member] | Interset Software Inc. [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Lease Contracts [Member] | HPE Software Business [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 15 | |
Cost [Member] | Lease Contracts [Member] | COBOL-IT [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Lease Contracts [Member] | Covertix [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Acquisitions | 0 | |
Cost [Member] | Lease Contracts [Member] | External Consultants [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Cost [Member] | Lease Contracts [Member] | External Consultants [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Additions | 0 | |
Accumulated Amortization [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 1,589.3 | |
Disposals | (26.5) | |
Amortization charge for the period | 716.5 | |
Effects of movements in exchange rates | (33.8) | |
Other Intangible Assets, ending | 2,245.5 | 1,589.3 |
Accumulated Amortization [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 1,589.3 | 760 |
Amortization charge for the period | 903.1 | |
Effects of movements in exchange rates | (0.9) | |
Other Intangible Assets, ending | 1,589.3 | |
Accumulated Amortization [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 40.2 | |
Reclassification to current assets classified as held for sale | (113.1) | |
Accumulated Amortization [Member] | Purchased Software [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 50.1 | |
Disposals | (7.4) | |
Amortization charge for the period | 34.1 | |
Effects of movements in exchange rates | 0.1 | |
Other Intangible Assets, ending | 76.9 | 50.1 |
Accumulated Amortization [Member] | Purchased Software [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 50.1 | 21 |
Amortization charge for the period | 30.7 | |
Effects of movements in exchange rates | (0.9) | |
Other Intangible Assets, ending | 50.1 | |
Accumulated Amortization [Member] | Purchased Software [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 0.8 | |
Reclassification to current assets classified as held for sale | (1.5) | |
Accumulated Amortization [Member] | Product Development Costs [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 206.7 | |
Disposals | (19.1) | |
Amortization charge for the period | 26.7 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 214.3 | 206.7 |
Accumulated Amortization [Member] | Product Development Costs [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 206.7 | 164.7 |
Amortization charge for the period | 42 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 206.7 | |
Accumulated Amortization [Member] | Product Development Costs [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 0 | |
Reclassification to current assets classified as held for sale | 0 | |
Accumulated Amortization [Member] | Technology [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 478.9 | |
Disposals | 0 | |
Amortization charge for the period | 200.1 | |
Effects of movements in exchange rates | (10.1) | |
Other Intangible Assets, ending | 668.9 | 478.9 |
Accumulated Amortization [Member] | Technology [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 478.9 | 223 |
Amortization charge for the period | 280.5 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 478.9 | |
Accumulated Amortization [Member] | Technology [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 13.4 | |
Reclassification to current assets classified as held for sale | (38) | |
Accumulated Amortization [Member] | Trade Names [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 48.9 | |
Disposals | 0 | |
Amortization charge for the period | 20.9 | |
Effects of movements in exchange rates | (1.8) | |
Other Intangible Assets, ending | 68 | 48.9 |
Accumulated Amortization [Member] | Trade Names [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 48.9 | 38.8 |
Amortization charge for the period | 26.7 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 48.9 | |
Accumulated Amortization [Member] | Trade Names [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 9.1 | |
Reclassification to current assets classified as held for sale | (25.7) | |
Accumulated Amortization [Member] | Customer Relationships [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 801.5 | |
Disposals | 0 | |
Amortization charge for the period | 424.8 | |
Effects of movements in exchange rates | (22) | |
Other Intangible Assets, ending | 1,204.3 | 801.5 |
Accumulated Amortization [Member] | Customer Relationships [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 801.5 | 312.5 |
Amortization charge for the period | 520 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 801.5 | |
Accumulated Amortization [Member] | Customer Relationships [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 16.9 | |
Reclassification to current assets classified as held for sale | (47.9) | |
Accumulated Amortization [Member] | Lease Contracts [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | 3.2 | |
Disposals | 0 | |
Amortization charge for the period | 9.9 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 13.1 | 3.2 |
Accumulated Amortization [Member] | Lease Contracts [Member] | Continuing Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Other Intangible Assets, beginning | $ 3.2 | 0 |
Amortization charge for the period | 3.2 | |
Effects of movements in exchange rates | 0 | |
Other Intangible Assets, ending | 3.2 | |
Accumulated Amortization [Member] | Lease Contracts [Member] | Discontinued Operations [Member] | ||
Other Intangible Assets [Abstract] | ||
Amortization charge for the period | 0 | |
Reclassification to current assets classified as held for sale | $ 0 |
Other intangible assets, Effect
Other intangible assets, Effect of Movements in Exchange Rates and Expenditures (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Other Intangible Assets [Abstract] | |||
Increase in amortisation expense | $ 8.9 | ||
Currency translation differences - continuing operations | (206.2) | $ (4.9) | $ (29.5) |
Total expenditure | 29.3 | 91.2 | |
Translation Reserve [Member] | |||
Other Intangible Assets [Abstract] | |||
Currency translation differences - continuing operations | 21.6 | ||
Retained Earnings [Member] | |||
Other Intangible Assets [Abstract] | |||
Currency translation differences - continuing operations | 1.5 | ||
Accumulated Amortization [Member] | Translation Reserve [Member] | |||
Other Intangible Assets [Abstract] | |||
Currency translation differences - continuing operations | 83.3 | ||
Accumulated Amortization [Member] | Retained Earnings [Member] | |||
Other Intangible Assets [Abstract] | |||
Currency translation differences - continuing operations | 21.6 | ||
Purchased Software [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | 12.3 | ||
Product Development Costs [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | 17 | 44.4 | |
Product Development Costs [Member] | Internal Consultants [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | 16.5 | ||
Product Development Costs [Member] | External Consultants [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | 0.5 | 0.9 | |
Purchased intangibles [Member] | |||
Other Intangible Assets [Abstract] | |||
Reduction in carrying value of intangible assets | (61) | $ (20.8) | (40.5) |
Net prior period impact on intangible assets | 61.3 | ||
Total expenditure | 6,556.3 | ||
Purchased intangibles [Member] | Foreign Operations [Member] | |||
Other Intangible Assets [Abstract] | |||
Allocation of intangible assets to foreign operation | 7,321 | ||
Purchased intangibles [Member] | Interset Software Inc. [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | $ 61.2 | ||
Purchased intangibles [Member] | HPE Software Business [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | (6,539.8) | ||
Purchased intangibles [Member] | COBOL-IT [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | (14) | ||
Purchased intangibles [Member] | Covertix [Member] | |||
Other Intangible Assets [Abstract] | |||
Total expenditure | $ (2.5) | ||
Technology [Member] | Bottom of Range [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 2 years | ||
Technology [Member] | Top of Range [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 10 years | ||
Technology [Member] | HPE Software Business [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 10 years | ||
Trade Names [Member] | Bottom of Range [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 10 years | ||
Trade Names [Member] | Top of Range [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 20 years | ||
Customer Relationships [Member] | Bottom of Range [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 1 year | ||
Customer Relationships [Member] | Top of Range [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 13 years | ||
Customer Relationships [Member] | HPE Software Business [Member] | |||
Other Intangible Assets [Abstract] | |||
Unamortized lives | 13 years |
Other intangible assets, Consol
Other intangible assets, Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
For continuing operations [Abstract] | |||
Total amortization charge for the period | $ 716.5 | $ 206.7 | $ 903.1 |
Research and development | 491.2 | 122.8 | 680.8 |
Product Development Costs [Member] | |||
For continuing operations [Abstract] | |||
Research and development | 16.5 | 27.7 | 44.4 |
Product Development Costs [Member] | Cost of Sales [Member] | |||
For continuing operations [Abstract] | |||
Total amortization charge for the period | 26.7 | 22.4 | 42 |
Purchased Technology [Member] | Cost of Sales [Member] | |||
For continuing operations [Abstract] | |||
Total amortization charge for the period | 200.1 | 59 | 280.5 |
Purchased Trade Names, Customer Relationships and Lease Contracts [Member] | Selling and Distribution [Member] | |||
For continuing operations [Abstract] | |||
Total amortization charge for the period | 455.6 | 124.2 | 549.9 |
Purchased Software [Member] | Administrative Expenses [Member] | |||
For continuing operations [Abstract] | |||
Total amortization charge for the period | $ 34.1 | $ 1.1 | $ 30.7 |
Property, plant and equipment_2
Property, plant and equipment (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | $ 144.3 | $ 40.9 |
Property, plant and equipment, end of period | 140.5 | 144.3 |
Depreciation | 66.5 | 95.2 |
Carrying value amount under financing leases | 20.9 | 25.9 |
Interset Software Inc. [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0.3 | |
Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 225.9 | 80.2 |
Additions | 65.3 | |
Disposals | (6.6) | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | 0.2 | |
Property, plant and equipment, end of period | 285.1 | 225.9 |
Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 81.6 | 39.3 |
Charge for the period | 66.5 | |
Disposals | (3) | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | (0.5) | |
Property, plant and equipment, end of period | 144.6 | 81.6 |
Discontinued Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 2 | |
Disposals | (0.1) | |
Reclassification to current assets classified as held for sale | (13.5) | |
Effects of movements in exchange rates | 0.3 | |
Discontinued Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 6.6 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (7.8) | |
Effects of movements in exchange rates | 0.1 | |
Continuing Operations [Member] | HPE Software Business [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 160.1 | |
Continuing Operations [Member] | COBOL-IT [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0.1 | |
Continuing Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 50.1 | |
Disposals | (39.2) | |
Effects of movements in exchange rates | (14.1) | |
Continuing Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 88.6 | |
Disposals | (34.6) | |
Effects of movements in exchange rates | (10.6) | |
Freehold Land and Buildings [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 12.1 | 12.5 |
Property, plant and equipment, end of period | 11.8 | 12.1 |
Freehold Land and Buildings [Member] | Interset Software Inc. [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0 | |
Freehold Land and Buildings [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 14.3 | 14.3 |
Additions | 0 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | (0.3) | |
Property, plant and equipment, end of period | 14 | 14.3 |
Freehold Land and Buildings [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 2.2 | 1.8 |
Charge for the period | 0.3 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | (0.3) | |
Property, plant and equipment, end of period | 2.2 | 2.2 |
Freehold Land and Buildings [Member] | Discontinued Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 0 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | 0 | |
Freehold Land and Buildings [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 0 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | 0 | |
Freehold Land and Buildings [Member] | Continuing Operations [Member] | HPE Software Business [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0 | |
Freehold Land and Buildings [Member] | Continuing Operations [Member] | COBOL-IT [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0 | |
Freehold Land and Buildings [Member] | Continuing Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 0 | |
Disposals | 0 | |
Effects of movements in exchange rates | 0 | |
Freehold Land and Buildings [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 0.4 | |
Disposals | 0 | |
Effects of movements in exchange rates | 0 | |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 44.9 | 14.6 |
Property, plant and equipment, end of period | 61.8 | 44.9 |
Leasehold Improvements [Member] | Interset Software Inc. [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0 | |
Leasehold Improvements [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 79.2 | 27.3 |
Additions | 37.7 | |
Disposals | (3.6) | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | 0.2 | |
Property, plant and equipment, end of period | 113.5 | 79.2 |
Leasehold Improvements [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 34.3 | 12.7 |
Charge for the period | 18.8 | |
Disposals | (1.7) | |
Reclassification to current assets classified as held for sale | 0 | |
Effects of movements in exchange rates | 0.3 | |
Property, plant and equipment, end of period | 51.7 | 34.3 |
Leasehold Improvements [Member] | Discontinued Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 0 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (4.1) | |
Effects of movements in exchange rates | 0 | |
Leasehold Improvements [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 2.7 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (2.1) | |
Effects of movements in exchange rates | 0 | |
Leasehold Improvements [Member] | Continuing Operations [Member] | HPE Software Business [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 56.5 | |
Leasehold Improvements [Member] | Continuing Operations [Member] | COBOL-IT [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0 | |
Leasehold Improvements [Member] | Continuing Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 10.4 | |
Disposals | (7.5) | |
Effects of movements in exchange rates | (3.4) | |
Leasehold Improvements [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 26.3 | |
Disposals | (4) | |
Effects of movements in exchange rates | (1.3) | |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 66.7 | 10.5 |
Reclassification to current assets classified as held for sale | 15.2 | |
Property, plant and equipment, end of period | 59.3 | 66.7 |
Computer Equipment [Member] | Interset Software Inc. [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0.2 | |
Computer Equipment [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 103.3 | 32.6 |
Additions | 24.6 | |
Disposals | (3) | |
Reclassification to current assets classified as held for sale | 19.8 | |
Effects of movements in exchange rates | (0.5) | |
Property, plant and equipment, end of period | 144.4 | 103.3 |
Computer Equipment [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 36.6 | 22.1 |
Charge for the period | 46.1 | |
Disposals | (1.3) | |
Reclassification to current assets classified as held for sale | 4.6 | |
Effects of movements in exchange rates | (0.9) | |
Property, plant and equipment, end of period | 85.1 | 36.6 |
Computer Equipment [Member] | Discontinued Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 2 | |
Disposals | (0.1) | |
Reclassification to current assets classified as held for sale | (9.1) | |
Effects of movements in exchange rates | 0.3 | |
Computer Equipment [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 2.6 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (5.6) | |
Effects of movements in exchange rates | 0.1 | |
Computer Equipment [Member] | Continuing Operations [Member] | HPE Software Business [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 79.5 | |
Computer Equipment [Member] | Continuing Operations [Member] | COBOL-IT [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0.1 | |
Computer Equipment [Member] | Continuing Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 33.3 | |
Disposals | (27.1) | |
Effects of movements in exchange rates | (8.2) | |
Computer Equipment [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 50.7 | |
Disposals | (26.9) | |
Effects of movements in exchange rates | (6.4) | |
Fixtures and Fittings [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 20.6 | 3.3 |
Reclassification to current assets classified as held for sale | (15.2) | |
Property, plant and equipment, end of period | 7.6 | 20.6 |
Fixtures and Fittings [Member] | Interset Software Inc. [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0.1 | |
Fixtures and Fittings [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 29.1 | 6 |
Additions | 3 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (19.8) | |
Effects of movements in exchange rates | 0.8 | |
Property, plant and equipment, end of period | 13.2 | 29.1 |
Fixtures and Fittings [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Property, plant and equipment, beginning of period | 8.5 | 2.7 |
Charge for the period | 1.3 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (4.6) | |
Effects of movements in exchange rates | 0.4 | |
Property, plant and equipment, end of period | $ 5.6 | 8.5 |
Fixtures and Fittings [Member] | Discontinued Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 0 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (0.3) | |
Effects of movements in exchange rates | 0 | |
Fixtures and Fittings [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 1.3 | |
Disposals | 0 | |
Reclassification to current assets classified as held for sale | (0.1) | |
Effects of movements in exchange rates | 0 | |
Fixtures and Fittings [Member] | Continuing Operations [Member] | HPE Software Business [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 24.1 | |
Fixtures and Fittings [Member] | Continuing Operations [Member] | COBOL-IT [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Acquisitions | 0 | |
Fixtures and Fittings [Member] | Continuing Operations [Member] | Cost [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Additions | 6.4 | |
Disposals | (4.6) | |
Effects of movements in exchange rates | (2.5) | |
Fixtures and Fittings [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | ||
Property, Plant and Equipment [Abstract] | ||
Charge for the period | 11.2 | |
Disposals | (3.7) | |
Effects of movements in exchange rates | $ (2.9) |
Related undertakings (Details)
Related undertakings (Details) | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Ownership Percentage [Abstract] | ||||
Ownership percentage in subsidiary | 100.00% | |||
Attachmate Australasia Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Attachmate Group Australia Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Autonomy Australia Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Autonomy Systems Australia Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Borland Australia Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Entco Australia Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Micro Focus Australia Pty Ltd (formerly Entcorp Australia Pty Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Micro Focus Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Serena Software Pty Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Australia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AU$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Borland Entwicklung GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Austria | |||
Class(es) of shares held | [1],[2] | Registered capital | ||
Principal activities | Development of software | |||
Registered office addresses | Donau Centre, Hauptstrasse 4-10, Linz, 4040, Austria | |||
Autonomy Belgium BVBA [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Belgium | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Officenter, Luchthavenlaan 27, 1800 Vilvoorde, Belgium | |||
Micro Focus Belgium BV (formerly Entco Belgium BVBA) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Belgium | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Officenter, Luchthavenlaan 27, 1800 Vilvoorde, Belgium | |||
Micro Focus Srl (formerly Micro Focus SPRL) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Belgium | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | EU Parliament, 4th Floor, 37 De Meeussquare, Brussels, 1000, Belgium | |||
Borland Latin America Ltda [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Brazil | |||
Class(es) of shares held | [1],[2] | Quota RS$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002, Brazil | |||
Cambridge Technology Partners do Brasil s.c. Ltda [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Brazil | |||
Class(es) of shares held | [1],[2] | Quota RS$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002, Brazil | |||
Micro Focus Brasil Servicos de Tecnologia Ltda (formerly Entco Brasil Servicos de Tecnologia Ltda) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Brazil | |||
Class(es) of shares held | [1],[2] | Quota RS$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002, Brazil | |||
Micro Focus Programacao de Computadores Ltda [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Brazil | |||
Class(es) of shares held | [1],[2] | Quota RS$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002, Brazil | |||
Peregrinne Systems do Brasil Limitada [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Brazil | |||
Class(es) of shares held | [1],[2] | Quota RS$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Avenida das nações Unidas, nº 12.901, conjunto 2302, sala 72, Itaim Bibi, São Paulo, CEP 04578-000, Brazil | |||
Serena Software Do Brasil Ltda [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Brazil | |||
Class(es) of shares held | [1],[2] | Quota RS$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Rua Dom Jose de Barros, 177, 3rd Floor, Suite 302, Vila Buarque, Sao Paulo 01038-100, Brazil | |||
Verity Worldwide Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | British Virgin Islands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$50,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Estera Corporate Services (BVI) Limited, Jayla Place Wickhams Cay 1, Road Town, Tortola, British Virgin Islands | |||
Micro Focus APM Solutions Limited (EOOD) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Bulgaria | |||
Class(es) of shares held | [1],[2] | Ordinary Shares BGN1,000.00 | ||
Principal activities | Development of software | |||
Registered office addresses | 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria | |||
Micro Focus Bulgaria EOOD (formerly Entco Bulgaria EOOD) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Bulgaria | |||
Class(es) of shares held | [1],[2] | Ordinary Shares BGN1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 1715 Sofia, Mladost district, Business Park Sofia, Building 9, Sophia, Bulgaria | |||
Autonomy Systems (Canada) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Class A Common Stock | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 200-204 Lambert Street, Whitehorse, Y1A 3T2, Canada | |||
Borland Canada Software ULC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Shares | ||
Principal activities | Dormant | |||
Registered office addresses | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |||
Entcorp Canada, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Stock | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Barker House , Suite 600, Fredericton E3B 6Z6, Canada | |||
GWAVA ULC (Formerly GWAVA Inc.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Stock | ||
Principal activities | Holding Company | |||
Registered office addresses | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |||
Interset Software Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Class A Preferred Shares Class B Preferred Shares Class B-1 Preferred Shares Class B-2 Preferred Shares Common Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 411 Legget Drive, Suite 503, Ottawa ON K2K 3C9, Canada | |||
Micro Focus (Canada) ULC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Shares | ||
Principal activities | Development, sale and support of software | |||
Registered office addresses | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |||
Micro Focus Acquisition ULC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Shares | ||
Principal activities | Holding Company | |||
Registered office addresses | Suite 1700, Park Place, 666 Burrard Street, Vancouver BC V6C 2X8, Canada | |||
Micro Focus Software (Canada), ULC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 4300 Bankers Hall West, 888 - 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada | |||
Micro Focus Software Solutions Canada Co. / Solutions Logiciels Micro Focus Canada Cie. (formerly Entco Software Canada Co. Logiciels Entco Canada Cie) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 1300-1960 Upper Water Street, Halifax, Nova Scotia B3J 3R7, Canada | |||
NetManage Canada ULC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Canada | |||
Class(es) of shares held | [1],[2] | Common Shares | ||
Principal activities | Dormant | |||
Registered office addresses | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |||
Entco Bellatrix HoldCo [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cayman Islands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands | |||
Entco Capital Co [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cayman Islands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands | |||
Entco Investment Co [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cayman Islands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands | |||
Micro Focus International Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cayman Islands | |||
Class(es) of shares held | [1],[2] | Class A Ordinary Shares US$0.00001 Class B Ordinary Shares US$0.00001 Class C Ordinary Shares US$0.00001 Class L Ordinary Shares US$0.00001 | ||
Principal activities | Dormant | |||
Registered office addresses | Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands | |||
Micro Focus IP Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cayman Islands | |||
Class(es) of shares held | [1],[2] | Class A Ordinary Shares €0.01 Class B Preferred Redeemable Shares €0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands | |||
Entco Marigalante Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cayman Islands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands | |||
Autonomy Systems (Beijing) Limited Company [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Unit 601, Block A, Yuanyang International Center, Building 56, Dong Si Huan Zhong Dong Road, Beijing, Chaoyang District, China | |||
Borland Software Corporation Beijing Representative Office [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | In liquidation | |||
Registered office addresses | Room 1213A Tower B, Full Link Plaza, No 18 Chaoyangmen Wai Avenue, Chaoyang District, Beijing, China | |||
Shanghai Entco Software Technology Co., Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Floor 2, Building 1, No. 799 Naxian Road, Pilot Free Trade Zone, Shanghai, China | |||
Shanghai Entco Software Technology Co., Limited, Beijing Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 8 Guangshun Avenue South, B01, 3F, Building 1, Chaoyang District, ,China | |||
Shanghai Entco Software Technology Co., Limited, Chongqing Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | No. 209, Chuangxin Plaza, No. 5 Keyuanyi Road, Jiulongpo District, Chongqing, China | |||
Shanghai Entco Software Technology Co., Limited, Shenzhen Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 14/F, Office 1436, Times Financial Center, 4001 Shennan Avenue, Futian District, Shenzhen, Guangdong, 518046, China or Unit H 1483 - 04, 14th Floor, Times Financial Center, 4001 Shennan Avenue, Fu'An Community, Futian Street, Shenzhen, Futian District, China | |||
Singapore Micro Focus Pte Ltd Shanghai Representative Office [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Room 810, Level 8, International Finance Center, Tower 2, 8 Century Avenue, Pudong, Shangahi 200120, P.R. China | |||
UK Micro Focus Limited Beijing Representative Office [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Madrid 17-02F Suite, 17/F Ping An International Financial Center, Tower B, No. 3 Xin Yuan South Road, Chao Yang District, Beijing China 100027 | |||
Micro Focus CentroAmerica CAC Limiteda (formerly Entco CentroAmerica CAC Limitada) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Costa Rica | |||
Class(es) of shares held | [1],[2] | Quota CRC1,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | San José, Cantón Montes de Oca, Distrito San Pedro, cincuenta metros al sur del Restaurante Le Chandelier, Edificio Blanco, Costa Rica | |||
Micro Focus Costa Rica Limiteda (formerly Entco Costa Rica Limitada) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Costa Rica | |||
Class(es) of shares held | [1],[2] | Quota CRC1,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | San José, Cantón Montes de Oca, Distrito San Pedro, cincuenta metros al sur del Restaurante Le Chandelier, Edificio Blanco, Costa Rica | |||
NetIQ Software International Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Cyprus | |||
Class(es) of shares held | [1],[2] | Ordinary Shares of C£1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | 54 Digeni Akrita, Akritas 2nd Floor, Office 201-202, PC 1061, Nicosia, Cyprus | |||
Micro Focus Czechia s.r.o (formerly Entco Czechia, s.r.o.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Czech Republic | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Za Brumlovkou 1559/5, Michle, Prague, 140 00, Czech Republic | |||
NOVL Czech s.r.o. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Czech Republic | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Dormant | |||
Registered office addresses | Krizikova 148/34, Karlin, 186 00 Praha 8 Czech Republic | |||
Micro Focus Denmark, filial af Micro Focus AS, Norge (Branch) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Denmark | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Borupvang 3, 2750, Ballerup, Denmark | |||
Micro Focus Software Denmark ApS (formerly Entco Denmark ApS) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Denmark | |||
Class(es) of shares held | [1],[2] | Ordinary Shares DKK1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Borupvang 3, 2750, Ballerup, Denmark | |||
Attachmate Middle East LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Egypt | |||
Class(es) of shares held | [1],[2] | Cash Shares LE100.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | 19 Helmy El Masry Street, Almaza, Cairo, Egypt | |||
Micro Focus AS, Filial i Finland (Branch) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Finland | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Accountor Turku Oy, Yliopistonkatu 34,5 krs, Turku FI-20100 | |||
Attachmate Group France SARL [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | France | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €16.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Tour, Atlantique, La Defense 9, 1 Place de la Pyramide, La Defense, Cedex, Paris, 92911, France | |||
Borland (France) Sarl [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | France | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €15.25 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Tour, Atlantique, La Defense 9, 1 Place de la Pyramide, La Defense, Cedex, Paris, 92911, France | |||
Cobol-IT, SAS [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | France | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Tour, Atlantique, La Defense 9, 1 Place de la Pyramide, La Defense, Cedex, Paris, 92911, France | |||
Micro Focus France SAS (formerly Entco France SAS) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | France | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 1 Avenue du Canada, Les Ulis, 91947, France | |||
Micro Focus SAS [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | France | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Tour, Atlantique, La Defense 9, 1 Place de la Pyramide, La Defense, Cedex, Paris, 92911, France | |||
Attachmate Group Germany GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €191,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Fraunhoferstrasse 7, Ismaning, 85737, Germany | |||
Borland GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €49,500.00 Ordinary Shares €450,000.00 Ordinary Shares €100,000.00 Ordinary Shares €500.00 | ||
Principal activities | Dormant | |||
Registered office addresses | Fraunhoferstrasse 7, Ismaning, 85737, Germany | |||
GWAVA EMEA GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Von-Braun-Strabe 38a, 48683 Ahaus, Germany | |||
Micro Focus Deutschland GmbH (formerly Entco Deutschland GmbH) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Herrenberger Str. 140, 71034 Boeblingen, Germany | |||
Micro Focus GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Fraunhoferstrasse 7, Ismaning, 85737, Germany | |||
Novell Holdings Deutschland GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Holding Company | |||
Registered office addresses | Maxfeldstr. 5, 90409 Nürnberg, Germany | |||
Serena Software GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Germany | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Nöerdlicher Zubringer 9-11, 40470 Düsseldorf | |||
Attachmate (Hong Kong) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Hong Kong | |||
Class(es) of shares held | [1],[2] | Ordinary Shares HK$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |||
Borland (H.K.) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Hong Kong | |||
Class(es) of shares held | [1],[2] | Ordinary Shares HK$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |||
EntCorp Hong Kong Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Hong Kong | |||
Class(es) of shares held | [1],[2] | Ordinary Shares HK$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 19th Floor, Cityplaza One, 1111 King's Road, Taikoo Shing, Hong Kong | |||
Micro Focus Limited Hong Kong (Branch) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Hong Kong | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |||
Micro Focus Software HK Limited (formerly Attachmate Group Hong Kong Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Hong Kong | |||
Class(es) of shares held | [1],[2] | Ordinary Shares HK$10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |||
NetIQ Asia Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Hong Kong | |||
Class(es) of shares held | [1],[2] | Ordinary Shares HK$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |||
Autonomy Software Asia Private Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 4th Floor, Laurel Building ‘A” Block, Bagmane Tech Park, Survey no.65/2, C.V.Raman Nagar, Byrasandra Village, KR Pura Hobli, Bangalore South Taluk, Bengaluru-560093, India | |||
Borland Software India Private Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Dormant | |||
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India | |||
Entco IT Services Private Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 4th Floor, Bagmane Tech Park, Olympia Building Survey Nos. 66/1, 66/66-1 & 66/1-3, CV Raman Nagar, Bangalore, 560093, India | |||
Interwoven, Inc., India Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 602 MMTC House C-22 Bandra Kurla Complex Bandra East, Mumbai, MH 400051, India | |||
Micro Focus India Private Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Support of software | |||
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India | |||
Micro Focus Software India Private Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Development, sale and support of software | |||
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India | |||
Micro Focus Software Solutions Private Limited (formerly Entco Software India Private Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 66/1, 6th Floor, Olympia Building, Bagmane Tech Park, Byrasandra, C V Raman Nagar, Bangalore, Karnataka, 560093, India | |||
Novell India Private Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Dormant | |||
Registered office addresses | Leela Galleria, 1st Floor, Andheri Kurla Road, Andheri(East), Mumbai - 400059, Maharashtra, India | |||
Relativity Technologies Private Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | India | |||
Class(es) of shares held | [1],[2] | Equity Shares INR10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India | |||
Attachmate Ireland Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.27 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Block A, Ballybrit Business Park, Ballybane Road, Galway, Eircode, NE2 2003, Ireland | |||
Entsoft Holding Ireland Unlimited Company [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Block A, Ballybrit Business Park, Ballybane Road, Galway, Eircode, NE2 2003, Ireland | |||
Micro Focus (IP) Ireland Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus (Ireland 1) Limited (formerly SUSE Linux Holdings Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus (Ireland 2) Limited (formerly SUSE Linux Ireland Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus Finance Ireland Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland | |||
Micro Focus Galway Limited (formerly Entsoft Galway Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Block A, Ballybrit Business Park, Ballybane Road, Galway, Eircode, NE2 2003, Ireland | |||
Micro Focus Group Holdings Unlimited Company [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus International Holdings Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus Ireland Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Development, sale and support of software | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus Software (Ireland) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.25 Ordinary Shares US$1.00 | ||
Principal activities | Development, sale and support of software | |||
Registered office addresses | Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland | |||
Micro Focus Software Solutions Ireland Limited (formerly Entsoft Ireland Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Block A, Ballybrit Business Park, Ballybane Road, Galway, Eircode, NE2 2003, Ireland | |||
NetIQ Europe Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Block A, Ballybrit Business Park, Ballybane Road, Galway, Eircode, NE2 2003, Ireland | |||
NetIQ Ireland Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Novell Cayman Software International Unlimited Company [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Novell Cayman Software Unlimited Company [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Novell Ireland Real Estate Unlimited Company [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.25 A Ordinary Shares €1.25 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Novell Software International Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ireland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus Interactive Israel Ltd (formerly Entco Interactive (Israel) Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Israel | |||
Class(es) of shares held | [1],[2] | Ordinary Shares of NIS1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 5 Altalef St., Yahud, Israel | |||
Micro Focus Israel Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Israel | |||
Class(es) of shares held | [1],[2] | Ordinary Shares NIS1.00 | ||
Principal activities | Development and support of software | |||
Registered office addresses | Matam Advanced Tech Center, Building 5/1, Haifa, 31 905, Israel | |||
Micro Focus Software Israel Ltd (formerly Entcorp Software Israel Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Israel | |||
Class(es) of shares held | [1],[2] | Ordinary Shares NIS1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 5 Altalef St., Yahud, Israel | |||
N.Y. NetManage (Yerushalayim) Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Israel | |||
Class(es) of shares held | [1],[2] | Ordinary Shares NIS1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | Scientific Industries Center, Haifa, 33263, Israel | |||
Novell Israel Software International Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Israel | |||
Class(es) of shares held | [1],[2] | Ordinary Shares NIS1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | 17 Hatidhar St., Raannana, 43665, Israel | |||
Enterprise Corp Italiana S.r.l.[Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Italy | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Via Filippo Turati 8, 20121, Milan, Italy | |||
Micro Focus Italiana S.r.l. (formerly Entco Italiana Srl) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Italy | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Viale Sarca 235, 20126, Milan, Italy | |||
Micro Focus Srl [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Italy | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Viale Sarca 235, 20126, Milan, Italy | |||
Serena Software Europe Limited - Italy Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Italy | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Viale Sarca 235, 20126, Milan, Italy | |||
Verity Italia S.r.l. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Italy | |||
Class(es) of shares held | [1],[2] | Registered Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Via Santa - Maria alla Porta n.9, 20123, Milan, Italy | |||
Entcorp Japan K.K. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Japan | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | No. 8 Center Plaza Bldg, 5F, 1-10-16 Horidomecho Nihonbashi, Chuo-ku, Tokyo 103-0012, Japan | |||
Micro Focus Enterprise Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Japan | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Micro Focus LLC (formerly Micro Focus KK) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Japan | |||
Class(es) of shares held | [1],[2] | Interest in capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Novell Japan, Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Japan | Japan | ||
Class(es) of shares held | [1],[2] | Common Stock | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Ownership Percentage [Abstract] | ||||
Ownership percentage in subsidiary | 84.24% | 74.70% | 81.05% | |
Serena Software Japan LLC (formerly Serena Software Japan KK) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Japan | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Micro Focus Korea Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | South Korea | |||
Class(es) of shares held | [1],[2] | Units KRW5000 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Yeoidodong, SK Building, 15F, 31 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, Korea | |||
Serena Software Europe Limited - Korea Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | South Korea | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Gangnam Finance Centre, Level 41, 152 Teheren-ro, Gangnam-gu, Seoul - 06236 Korea | |||
Micro Focus Finance S.a r.l [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Luxembourg | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | 20, rue des Peupliers, L-2328 Luxembourg, Luxembourg | |||
Micro Focus Luxembourg S.a r.l. (formerly Entco Luxembourg Sarl) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Luxembourg | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 20, rue des Peupliers, L-2328 Luxembourg, Luxembourg | |||
Minerva Finance S.a r.l. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Luxembourg | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | 20, rue des Peupliers, L-2328 Luxembourg, Luxembourg | |||
Verity Luxembourg S.a r.l. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Luxembourg | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €25.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 15, Boulevard F.W. Raiffeisen, L - 2411, Luxembourg | |||
Micro Focus Malaysia Sdn. Bhd. (formerly Entco Software Malaysia Sdn. Bhd.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Malaysia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares RM1,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 11 , 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, 50470 59200 Kuala Lumpur, Malaysia | |||
Novell Corporation (Malaysia) Sdn. Bhd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Malaysia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares RM1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Unit 501 Lvl 5 Uptwn 1, 1 Jalan SS2, Selangor Darul Ehsan, Malaysia | |||
Micro Focus International Mexico, S. de R.L. de C.V. (formerly Entco Mexico, S. de R.L. de C.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Mexico | |||
Class(es) of shares held | [1],[2] | Equity Interest Quota MXN1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico | |||
Micro Focus Limited Mexico (Branch) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Mexico | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Insurgentes Sur 1898, Pisos 12 y 14, Col. La Florida, Mexico City 1020, Mexico | |||
Micro Focus Software Mexico, S. De R.L. De C.V. (formerly Entco Software Mexico, S. de R.L. de C.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Mexico | |||
Class(es) of shares held | [1],[2] | Equity Interest Quota MXN1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico | |||
Micro Focus Software Solutions Mexico, S. de R.L. de C.V. (formerly Entcorp Software Mexico, S. de R.L. de C.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Mexico | |||
Class(es) of shares held | [1],[2] | Equity Interest Quota MXN1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico | |||
Attachmate Group Netherlands B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Authasas Advanced Authentication B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Authasas B.V [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares A €1.00 Ordinary Shares B €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Autonomy HoldCo B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Autonomy Netherlands BV [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Common Shares €100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Borland BV [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €5.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco Eastern Holding B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco Gatriam Holding B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco HoldCo I B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco HoldCo II B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco HoldCo III B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco HoldCo IV B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco Holding Berlin B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco Holding Hague II B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entco Sinope Holding B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Entcorp Nederland B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Common Shares €100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Caribe Holding B.V. (formerly Entco Caribe B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Eastern Holding II B.V. (formerly Entco Eastern Holding II B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Enterprise B.V. (formerly Entco Enterprise B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus HoldCo B.V. (formerly Entco HoldCo B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Holding Finance B.V. (formerly Entco Holding Finance B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Holding Hague B.V. (formerly Entco Holding Hague B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Holding PR B.V. (formerly Entco Puerto Rico B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus International Trade B.V. (formerly Entco International Trade B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Nederland B.V. (formerly Entco Nederland B.V.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Verity Benelux B.V. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Netherlands | |||
Class(es) of shares held | [1],[2] | Common Shares of €500.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Software (New Zealand) Unlimited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | New Zealand | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Level 8, 188 Quay Street, Auckland, 1010 , New Zealand | |||
Micro Focus AS [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Norway | |||
Class(es) of shares held | [1],[2] | Ordinary Shares NOK1,602.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 7th Floor, Dronning Eufemias gate 16, 0191 Oslo, Norway | |||
Entcorp Philippines, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Philippines | |||
Class(es) of shares held | [1],[2] | Common Stock PHP1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 2/F Three World Square, Upper Mckinley Road, Taguig City, Philippines | |||
Micro Focus Polska sp. z o.o. (formerly Entco Polska sp. z.o.o.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Poland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares PLN500.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Centrum Biurowe Globis, Powstańców Śląskich 7A, 53-332, Wrocław, Poland | |||
Micro Focus S.L. - Sucursal Em Portugal (Branch) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Portugal | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Centro Empresarial Torres de Lisboa, Rua Tomás da Fonseca, Torre G, 1.º, 1600-209 Lisbon, Portugal | |||
Novell Portugal - Informatica Lda [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Portugal | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €14,864.18 Ordinary Shares €99.76 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Centro Empresarial Torres de Lisboa, Rua Tomás da Fonseca, Torre G, 1600-203 Lisbon, Portugal | |||
Micro Focus Caribe Holding B.V. LLC Branch (formerly Entco Caribe B.V. LLC) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Puerto Rico | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 110 Highway North Km. 28, Bldg. #1, Aguadilla, 00603, Puerto Rico | |||
Micro Focus Holding PR B.V. LLC Branch (formerly Entco Puerto Rico B.V. LLC) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Puerto Rico | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 350 Chardon Avenue, Chardon Tower, Suite 801, San Juan, 00918, Puerto Rico | |||
Micro Focus Software Romania SRL (formerly Entco Software Romania SRL) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Romania | |||
Class(es) of shares held | [1],[2] | Ordinary Shares RON10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 2nd District, 3 George Constantinescu Street, BOC Office Building, Bucharest, Romania | |||
Limited Liability Company Micro Focus (formerly Limited Liability Company Entco) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Russian Federation | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Leningradskoye shosse 16 A, building 3, floor 10, premise XV, room 16, 125171, Moscow, Russian Federation | |||
Micro Focus LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Saudi Arabia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares SAR50 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Maazar Street, Futuro Tower, 3rd Floor, P.O. Box 69171, Riyadh 11547, Saudi Arabia | |||
Autonomy Systems Singapore Pte. Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Singapore | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, Singapore | |||
Borland (Singapore) Pte. Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Singapore | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 80 Robinson Road #02 - 00, 068898, Singapore | |||
Entco Software Pte. Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Singapore | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, Singapore | |||
Mercury Interactive (Singapore) Pte Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Singapore | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | In liquidation | |||
Registered office addresses | 450 Alexandra Road, Singapore 119960, Singapore | |||
Micro Focus Pte. Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Singapore | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 80 Robinson Road #02 - 00, 068898, Singapore | |||
Micro Focus Software Pte. Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Singapore | |||
Class(es) of shares held | [1],[2] | Ordinary Shares | ||
Principal activities | Sale and support of software | |||
Registered office addresses | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, Singapore | |||
Autonomy Systems Software South Africa Pty Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | South Africa | |||
Class(es) of shares held | [1],[2] | Ordinary Shares ZAR1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | PO Box 2238, Florida Hills, 1716, South Africa | |||
Micro Focus Software South Africa (Pty) Ltd (formerly Attachmate Group South Africa (Pty) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | South Africa | |||
Class(es) of shares held | [1],[2] | Ordinary Shares ZAR1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Morning View Office Park 255 Rivonia Road, Morningside, South Africa | |||
Micro Focus South Africa (Pty) Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | South Africa | |||
Class(es) of shares held | [1],[2] | Ordinary Shares ZAR1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Morning View Office Park 255 Rivonia Road, Morningside, South Africa | |||
Micro Focus Field Delivery Spain, S.L.U. (formerly Entco Field Delivery Spain, S.L.U.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Spain | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Calle José Echegaray 8, Las Rozas de Madrid, 28232 Madrid, Spain | |||
Micro Focus S.L.U. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Spain | |||
Class(es) of shares held | [1],[2] | Registered Shares €9.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Paseo de la Castellana 42, Madrid, 28046, Spain | |||
Micro Focus Software Spain S.L.U. (formerly Entco Software Spain S.L.U.) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Spain | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Calle José Echegaray 8, Las Rozas de Madrid, 28232 Madrid, Spain | |||
Serena Software SA [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Spain | |||
Class(es) of shares held | [1],[2] | Ordinary Shares €546.92 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Ronda General Mitre 28-30, Barcelona 08017, Spain | |||
Micro Focus AS, Norge, filial i Sverige (Branch) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Sweden | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden | |||
Micro Focus Sverige AB (formerly Entco Sverige AB) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Sweden | |||
Class(es) of shares held | [1],[2] | Quota SEK1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden | |||
Micro Focus Enterprise B.V., Amstelveen, Versoix Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Switzerland | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Chemin Jean-Baptiste Vandelle 3A, 1290 Versoix, Switzerland | |||
Micro Focus GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Switzerland | |||
Class(es) of shares held | [1],[2] | Quotas CHF100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Ueberlandstrasse 1, 8600 Dübendorf, Switzerland | |||
Micro Focus International Suisse Sarl (formerly Entco International Sarl) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Switzerland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares CHF1,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Chemin Jean-Baptiste Vandelle 3A, 1290 Versoix, Switzerland | |||
Micro Focus Schweiz GmbH (formerly Entco Schweiz GmbH) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Switzerland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares CHF100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Ueberlandstrasse 1, 8600 Dübendorf, Switzerland | |||
Serena Software GmbH- Swiss Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Switzerland | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Kirchgasse 24, 8001 Zurich, Switzerland | |||
Trilead GmbH [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Switzerland | |||
Class(es) of shares held | [1],[2] | Ordinary Shares CHF100.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Rembach 7, 8852, Altendorf, Switzerland | |||
Interwoven, Inc., Taiwan Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Taiwan | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 10F.-1 No.66, Jing Mao 2nd Road, Nangang Distric, Taipei City, 115, Taiwan | |||
Novell (Taiwan) Co., Ltd. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Taiwan | |||
Class(es) of shares held | [1],[2] | Ordinary Shares NT$10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Room B 26/F #216 Tun-Hwa S Road Sec, Taipei ROC 106, Taiwan | |||
Micro Focus Enterprise Tunisia SARL [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Tunisia | |||
Class(es) of shares held | [1],[2] | Ordinary Shares TND10.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | ZI Chotrana, Technopole El Ghazala, Lot No 45, Ariana, 2088, Tunisia | |||
Micro Focus Teknoloji Cozumleri Limited Sirketi (formerly Entco Turkey Teknoloji Cozumleri Limited Sirketi) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Turkey | |||
Class(es) of shares held | [1],[2] | Ordinary Shares TRY25.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | AND Plaza Kozyatağa İçerenköy Mahallesi Umut Sk. 10/12, Kat: 16 34752 Ataşehir/İstanbul, Turkey | |||
Serena Software Ukraine LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Ukraine | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 13 Pimonenko str., building 1, Office 1B/22, Kiev 04050,Ukraine | |||
Entco International SARL-Abu Dhabi - Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Arab Emirates | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Al Hilal Building, Al Falah Road, Office 318, Abu Dhabi, United Arab Emirates | |||
Entco International SARL-Jebel Ali Free Zone - Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Arab Emirates | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sale and support of software | |||
Registered office addresses | JAFZA One building, Unit No. AB 1005, Jebel Ali Free Zone, Dubai, United Arab Emirates | |||
Entco Software Services Middle East FZ-LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Arab Emirates | |||
Class(es) of shares held | [1],[2] | Ordinary Shares AED1,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 1204 - 1205, Floor 12 Al Shatha Tower, Dubai , United Arab Emirates | |||
Attachmate Sales UK Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Autonomy Digital Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | Autonomy House, Cambridge Business Park, Cambridge, Cambridgeshire, CB4 0WZ | |||
Autonomy Systems Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
Borland (Holding) UK Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Borland (UK) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Entcorp Marigalante UK Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
Interwoven UK Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | Autonomy House, Cambridge Business Park, Cambridge, Cambridgeshire, CB4 0WZ | |||
Longsand Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
Merant Holdings [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Meridio Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | The Innovation Centre, Northern Ireland Science Park, Queen's Road, Queens Island, Belfast, BT3 9DT | |||
Micro Focus (IP) Holdings Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus (IP) Ltd [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus (US) Holdings [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus APM Solutions Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus CHC Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$0.01 Redeemable Preference Shares US$1.00 C Preference Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Foreign HoldCo Ltd (formerly Entco Foreign HoldCo Ltd) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Global Limited (formerly Novell U.K. Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Group Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Holdings Unlimited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Integration Holdings Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Integration Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus IP Development Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Development and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus MHC Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | A Ordinary Shares £0.00001 B Ordinary Shares £0.00001 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Midco Holdings Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Midco Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$0.0001 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Situla Holding Ltd (formerly Entco Situla Holding Ltd) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
Micro Focus Software (IP) Holdings Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$0.01 Preferred Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Software Holdings Ltd (formerly Novell UK Software Limited) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Micro Focus Software UK Ltd (formerly Entcorp UK Ltd) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
Micro Focus UK Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
NetIQ Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Dormant | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Ryan McFarland Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Serena Holdings [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares US$1.00 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
Serena Software Europe Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
XDB (UK) Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | The Lawn, 22 30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN, England | |||
ZANTAZ UK Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United Kingdom | |||
Class(es) of shares held | [1],[2] | Ordinary Shares £1.00 | ||
Principal activities | In liquidation | |||
Registered office addresses | Autonomy House, Cambridge Business Park, Cambridge, Cambridgeshire, CB4 0WZ | |||
Attachmate Corporation [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Development and support of software | |||
Registered office addresses | 505 Union Ave SE STE120, Olympia, WA 98501 , USA | |||
Borland Corporation [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Borland Software Corporation [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Development and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Borland Technology Corporation [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Dormant | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Entco Delaware LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Entco Holdings, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Entco Technologies, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.001 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Entco, LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
GWAVA Technologies Inc [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock of US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Interset Software - US, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.0001 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
MA FinanceCo., LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Units | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Marcel Holdings LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Limited Liability Company Interest US$1.00 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | Corporation Service Company, 251 Little Falls Drive, Wilmington, New Castle, DE19808, USA | |||
Micro Focus (US) Group, Inc [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Micro Focus (US) International Holdings, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Micro Focus (US), Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Development and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Micro Focus Brazil Holdings LLC (formerly Entco Brazil Holdings LLC) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Micro Focus Government Solutions LLC (formerly Entco Government Solutions LLC) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Interest in Capital | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Micro Focus LLC (formerly EntIT Software LLC) [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Limited Liability Company Interests | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Micro Focus Software Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Voting Common Stock US$0.01 Non-voting Common Stock US$0.01 | ||
Principal activities | Development and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
MicroLink LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Limited Liability Company Interests | ||
Principal activities | Sale and support of software | |||
Registered office addresses | 4701 Cox Road, Suite 285, Henrico County, Glen Allen VA 23060, United States | |||
NetIQ Corporation [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.001 | ||
Principal activities | Development and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Novell Holdings, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Novell International Holdings, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Seattle SpinCo, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Class A Common Stock US$0.01 Class B Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Serena Software, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.01 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Spartacus Acquisition Holdings Corp [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.001 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Stratify, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.001 | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
The Attachmate Group, Inc. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Common Stock US$0.001 | ||
Principal activities | Holding Company | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
Vertica Systems, LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Limited Liability Company Interests | ||
Principal activities | Sale and support of software | |||
Registered office addresses | The Corporation Trust Company, Corporation Trust Center, 1209 Orange St, Wilmington, New Castle, DE 19801, USA | |||
[1] | The Group has a 100% equity ownership interest in each of the subsidiary undertakings, with the exception of Novell Japan Ltd, in which it has an 84.24% equity interest (note 32). | |||
[2] | The ultimate parent company is Micro Focus International plc (the "Company"). The Company has a direct interest in Micro Focus Midco Holdings Limited and an indirect interest in all of the other related undertakings. The Company has an effective interest of 100% in all of the related undertakings listed in the table, save as disclosed above. |
Other non-current assets (Detai
Other non-current assets (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Other non-current assets [Abstract] | ||
Employee benefit deposit | $ 33.4 | $ 31.1 |
Long-term rent deposits | 4.9 | 4.1 |
Long-term prepaid expenses | 4.5 | 2.9 |
Other | 1.2 | 0.7 |
Other non-current assets | 44 | 38.8 |
Germany [Member] | ||
Other non-current assets [Abstract] | ||
Employee benefit deposit | 16.4 | 15.4 |
Israel [Member] | ||
Other non-current assets [Abstract] | ||
Employee benefit deposit | 11.9 | 10.2 |
Italy [Member] | ||
Other non-current assets [Abstract] | ||
Employee benefit deposit | 2.4 | 2.7 |
Netherlands [Member] | ||
Other non-current assets [Abstract] | ||
Employee benefit deposit | $ 2.7 | $ 2.8 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Inventories [Abstract] | ||
Work in progress | $ 0 | $ 0 |
Finished goods | 0.1 | 0.2 |
Inventories | 0.1 | 0.2 |
Inventory utilized included in cost of sales | $ 0.1 | $ 0.3 |
Trade and other receivables (De
Trade and other receivables (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 |
Trade and other receivables [Abstract] | |||
Trade receivables | $ 877.9 | $ 1,089.6 | |
Loss allowance | (42.4) | (41.9) | $ (2.6) |
Trade receivables net | 835.5 | 1,047.7 | |
Prepayments | 53.9 | 60 | |
Other receivables | 87.2 | 79 | |
Contract assets | 56.3 | 85.3 | |
Trade and other receivables | 1,032.9 | 1,272 | |
HPE Software Business [Member] | |||
Trade and other receivables [Abstract] | |||
Loss allowance | $ 0 | $ (21.5) |
Trade and other receivables, Ag
Trade and other receivables, Ageing of Impairment (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 |
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | $ 877.9 | $ 1,089.6 | |
Loss allowance | (42.4) | (41.9) | $ (2.6) |
Net trade receivables | 835.5 | 1,047.7 | |
Current [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 696 | 798.5 | |
Loss allowance | (8.9) | 0 | |
Net trade receivables | 687.1 | 798.5 | |
Up to Three Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 110.1 | 153.4 | |
Loss allowance | (3.8) | 0 | |
Net trade receivables | 106.3 | 153.4 | |
Three to Four Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 8.9 | 13.6 | |
Loss allowance | (1.5) | (3.6) | |
Net trade receivables | 7.4 | 10 | |
Over Four Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 62.9 | 124.1 | |
Loss allowance | (28.2) | (38.3) | |
Net trade receivables | $ 34.7 | $ 85.8 |
Trade and other receivables, Pr
Trade and other receivables, Provision for Impairment (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Provision for Impairment of Trade Receivables [Abstract] | ||
Beginning balance | $ 41.9 | $ 2.6 |
Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) | 20 | 0 |
Revised beginning balance | 61.9 | 2.6 |
Loss allowance provided in the period | 16 | 40 |
Receivables written off as uncollectable | (35.5) | (0.7) |
Ending balance | $ 42.4 | $ 41.9 |
Contract-related costs (Details
Contract-related costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019 | Apr. 30, 2017 | [1] | Oct. 31, 2018 | |
Contract assets [Abstract] | ||||
Current | $ 19.3 | $ 0 | ||
Non-current | 31.5 | 0 | ||
Total | $ 50.8 | 0 | ||
Average customer life | 5 years | |||
Capitalized commissions | $ 64.7 | |||
Capitalized commissions disposed | 35.4 | |||
Capitalized commissions current | 14.1 | |||
Capitalized commissions non-current | 50.6 | |||
Disclosure of assets recognised from costs to obtain or fulfil contracts with customers [Abstract] | ||||
Asset recognized from costs incurred to acquire a contract | 31.4 | 0 | ||
Amortization and impairment loss recognized as cost of providing services during the period | $ (10.2) | $ 0 | $ 0 | |
Top of Range [Member] | ||||
Contract assets [Abstract] | ||||
Expected amortization period of capitalized costs | 1 year | |||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Cash and cash equivalents [Abstract] | ||||
Cash at bank and in hand | $ 292.2 | $ 387.1 | ||
Short-term bank deposits | 63.5 | 236.7 | ||
Cash equivalents | 355.7 | 623.8 | $ 151 | |
Reclassification to current assets classified as held for sale | 0 | (2.9) | 0 | |
Cash and cash equivalents | $ 355.7 | $ 620.9 | $ 151 | $ 667.2 |
Cash and cash equivalents, Cred
Cash and cash equivalents, Credit Quality (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | $ 355.7 | $ 620.9 | $ 151 | $ 667.2 |
AAA [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 69.8 | 231.5 | ||
AA- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 87.6 | 81 | ||
A+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 144.4 | 260.4 | ||
A [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 23.4 | 20.1 | ||
A- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 14.4 | 3.8 | ||
BBB+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 1.7 | 4.5 | ||
BBB [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 4.5 | 1 | ||
BBB- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0.8 | 0.6 | ||
BB+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0.8 | 2 | ||
BB [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0.3 | 0 | ||
BB- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 6.3 | 15.2 | ||
B+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0.2 | 0 | ||
CCC+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0 | 0.2 | ||
C- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0 | 0.3 | ||
Not Rated [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | $ 1.5 | $ 0.3 |
Trade and other payables - cu_3
Trade and other payables - current (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Trade and other payables - current [Abstract] | ||
Trade payables | $ 105 | $ 46.1 |
Tax and social security | 80.7 | 46.5 |
Accruals | 425.3 | 584.3 |
Total trade and other payables | 611 | 676.9 |
Vacation and payroll | 88.4 | 147 |
Commission and employee bonuses | 74.9 | 162.7 |
Integration and divestiture expenses | 26.4 | 44.5 |
Consulting and audit fees | $ 36.9 | $ 30.3 |
Borrowings, Details of Borrowin
Borrowings, Details of Borrowings (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 |
Disclosure of detailed information about borrowings [abstract] | |||
Current borrowings | $ 0 | $ 3.7 | |
Non-current liabilities | 4,670.7 | 4,842.2 | |
Borrowings | 4,670.7 | 4,845.9 | |
Unamortized prepaid facility arrangement fees and original issue discounts, current | 0 | (46.6) | |
Unamortized prepaid facility arrangement fees and original issue discounts, noncurrent | (104.3) | (104.4) | |
Unamortized prepaid facility arrangement fees and original issue discounts | (104.3) | (151) | |
Bank Loan Secured [Member] | |||
Disclosure of detailed information about borrowings [abstract] | |||
Current borrowings | 0 | 50.3 | |
Non-current liabilities | 4,775 | 4,946.6 | |
Borrowings | $ 4,775 | $ 4,996.9 | $ 1,595.2 |
Borrowings, Facilities (Details
Borrowings, Facilities (Details) € in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | 18 Months Ended | ||
Apr. 30, 2019USD ($) | Oct. 31, 2019USD ($) | Apr. 30, 2017USD ($) | Oct. 31, 2018USD ($) | Oct. 31, 2019EUR (€) | |
Borrowing facilities [Abstract] | |||||
Borrowings | $ 4,670.7 | $ 4,845.9 | |||
Repayments | $ 200 | $ 212.6 | $ 372.1 | $ 252.9 | |
Bottom of Range [Member] | |||||
Borrowing facilities [Abstract] | |||||
Aggregate net leverage covenant percentage | 35.00% | ||||
LIBOR [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowing interest rate floor | 1.00% | ||||
Bank Loan Secured [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 4,775 | 1,595.2 | $ 4,996.9 | ||
Repayments | 212.6 | 252.9 | |||
Senior Secured Term Loan B-2 by MA FinanceCO LLC [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 1,414.7 | 1,515.2 | 1,503.8 | ||
Borrowings, interest rate | 2.25% | 2.25% | |||
Borrowing interest rate floor | 0.00% | 0.00% | |||
Repayments | $ 89.1 | 11.4 | |||
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 2,486.3 | 0 | 2,580.5 | ||
Borrowings, interest rate | 2.50% | 2.50% | |||
Borrowings, maturity | P7Y | ||||
Borrowing interest rate floor | 0.00% | 0.00% | |||
Original discount rate on debt issuance | 0.25% | 0.25% | |||
Repayments | $ 94.2 | 19.5 | |||
Senior Secured Term Loan B-3 by MA FinanceCo LLC [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 368.2 | 0 | 382.1 | ||
Borrowings, interest rate | 2.50% | 2.50% | |||
Borrowings, maturity | P7Y | ||||
Borrowing interest rate floor | 0.00% | 0.00% | |||
Original discount rate on debt issuance | 0.25% | 0.25% | |||
Repayments | $ 13.9 | 2.9 | |||
Senior Secured Term Loan B by MA FinanceCo LLC [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 505.8 | € 452.8 | |||
Borrowings, maturity | P7Y | ||||
Original discount rate on debt issuance | 0.25% | 0.25% | |||
Senior Secured Term Loan B by MA FinanceCo LLC [Member] | EURIBOR [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings, interest rate | 2.75% | 2.75% | |||
Borrowing interest rate floor | 0.00% | 0.00% | |||
Revolving Credit Facility [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 0 | $ 80 | 0 | ||
Borrowings, interest rate | 3.25% | 3.25% | |||
Borrowing interest rate floor | 0.00% | 0.00% | |||
Repayments | $ 0 | $ 215 | |||
Undrawn amount on borrowing facilities | $ 500 | ||||
Interest rate on undrawn borrowings amount | 0.375% | 0.375% | |||
Term Loans [Member] | |||||
Borrowing facilities [Abstract] | |||||
Borrowings | $ 4,775 |
Borrowings, Movements on Groups
Borrowings, Movements on Groups Loans (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2019 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | $ 4,845.9 | |||
Draw downs | 0 | $ 180 | $ 1,043.8 | |
Repayments | $ (200) | (212.6) | (372.1) | (252.9) |
Ending balance | 4,670.7 | 4,845.9 | ||
Estimated fair value of borrowings | $ 4,686 | |||
Bottom of Range [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Facility arrangement costs and debt discounts amortization period | 3 years | |||
Top of Range [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Facility arrangement costs and debt discounts amortization period | 6 years | |||
Bank Loan Secured [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | $ 4,996.9 | 1,595.2 | ||
Acquisitions | 2,600 | |||
Draw downs | 0 | 1,043.8 | ||
Repayments | (212.6) | (252.9) | ||
Foreign exchange | (9.3) | 10.8 | ||
Ending balance | 4,775 | 1,595.2 | 4,996.9 | |
Term Loan B-2 [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | 1,503.8 | 1,515.2 | ||
Acquisitions | 0 | |||
Draw downs | 0 | 0 | ||
Repayments | (89.1) | (11.4) | ||
Foreign exchange | 0 | 0 | ||
Ending balance | 1,414.7 | 1,515.2 | 1,503.8 | |
Term Loan B-3 [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | 382.1 | 0 | ||
Acquisitions | 0 | |||
Draw downs | 0 | 385 | ||
Repayments | (13.9) | (2.9) | ||
Foreign exchange | 0 | 0 | ||
Ending balance | 368.2 | 0 | 382.1 | |
Seattle Spinco Term Loan B [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | 2,580.5 | 0 | ||
Acquisitions | 2,600 | |||
Draw downs | 0 | 0 | ||
Repayments | (94.2) | (19.5) | ||
Foreign exchange | 0 | 0 | ||
Ending balance | 2,486.3 | 0 | 2,580.5 | |
Euro Term Loan B [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | 530.5 | 0 | ||
Acquisitions | 0 | |||
Draw downs | 0 | 523.8 | ||
Repayments | (15.4) | (4.1) | ||
Foreign exchange | (9.3) | 10.8 | ||
Ending balance | 505.8 | 0 | 530.5 | |
Revolving Facility [Member] | ||||
Borrowings, movements on groups loans [Abstract] | ||||
Beginning balance | 0 | 80 | ||
Acquisitions | 0 | |||
Draw downs | 0 | 135 | ||
Repayments | 0 | (215) | ||
Foreign exchange | 0 | 0 | ||
Ending balance | $ 0 | $ 80 | $ 0 |
Borrowings, Maturity of Borrowi
Borrowings, Maturity of Borrowings (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 |
Borrowings, maturities [Abstract] | |||
Debt principal repayment | $ 4,670.7 | $ 4,845.9 | |
Interest payment on debt | 805.5 | 1,089.7 | |
Borrowings maturity | 5,580.5 | 6,086.6 | |
Within One Year [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 0 | 50.3 | |
Interest payment on debt | 209.2 | 229.6 | |
Borrowings maturity | 209.2 | 279.9 | |
1-3 Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 1,431.7 | 100.7 | |
Interest payment on debt | 360.6 | 452.6 | |
Borrowings maturity | 1,792.3 | 553.3 | |
In One to Two Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 209.2 | 278.1 | |
In Two to Three Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 1,583.3 | 275.2 | |
In Three to Four Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 179.1 | 1,652.5 | |
3-5 Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 3,343.3 | 1,528.8 | |
Interest payment on debt | 235.7 | 310.9 | |
Borrowings maturity | 3,579 | 1,839.7 | |
In Four to Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 3,399.7 | 187.2 | |
In More Than Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 0 | 3,317.1 | |
Interest payment on debt | 0 | 96.6 | |
Borrowings maturity | 0 | 3,413.7 | |
Bank Loan Secured [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 4,775 | 4,996.9 | $ 1,595.2 |
Term Loan B-2 [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 1,414.7 | 1,503.8 | 1,515.2 |
Borrowings maturity | 1,542.9 | 1,713.1 | |
Term Loan B-2 [Member] | Within One Year [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 61.6 | 84.3 | |
Term Loan B-2 [Member] | In One to Two Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 61.5 | 83.8 | |
Term Loan B-2 [Member] | In Two to Three Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 1,419.8 | 82.9 | |
Term Loan B-2 [Member] | In Three to Four Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 1,462.1 | |
Term Loan B-2 [Member] | In Four to Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 0 | |
Term Loan B-2 [Member] | In More Than Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 0 | |
Term Loan B-3 [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 368.2 | 382.1 | 0 |
Borrowings maturity | 446.5 | 484.2 | |
Term Loan B-3 [Member] | Within One Year [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 17 | 22.4 | |
Term Loan B-3 [Member] | In One to Two Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 16.9 | 22.2 | |
Term Loan B-3 [Member] | In Two to Three Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 18.5 | 22 | |
Term Loan B-3 [Member] | In Three to Four Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 20.6 | 21.8 | |
Term Loan B-3 [Member] | In Four to Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 373.5 | 21.6 | |
Term Loan B-3 [Member] | In More Than Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 374.2 | |
Seattle Spinco Term Loan B [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 2,486.3 | 2,580.5 | 0 |
Borrowings maturity | 3,015 | 3,270.3 | |
Seattle Spinco Term Loan B [Member] | Within One Year [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 114.6 | 151.2 | |
Seattle Spinco Term Loan B [Member] | In One to Two Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 114.3 | 150.2 | |
Seattle Spinco Term Loan B [Member] | In Two to Three Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 124.1 | 148.6 | |
Seattle Spinco Term Loan B [Member] | In Three to Four Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 139.4 | 147.4 | |
Seattle Spinco Term Loan B [Member] | In Four to Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 2,522.6 | 146.1 | |
Seattle Spinco Term Loan B [Member] | In More Than Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 2,526.8 | |
Euro Term Loan B [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 505.8 | 530.5 | 0 |
Borrowings maturity | 570.7 | 611.7 | |
Euro Term Loan B [Member] | Within One Year [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 14.1 | 20.1 | |
Euro Term Loan B [Member] | In One to Two Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 14.6 | 20 | |
Euro Term Loan B [Member] | In Two to Three Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 19.3 | 19.8 | |
Euro Term Loan B [Member] | In Three to Four Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 19.1 | 19.6 | |
Euro Term Loan B [Member] | In Four to Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 503.6 | 19.5 | |
Euro Term Loan B [Member] | In More Than Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 512.7 | |
Revolving Facility [Member] | |||
Borrowings, maturities [Abstract] | |||
Debt principal repayment | 0 | 0 | $ 80 |
Borrowings maturity | 5.4 | 7.3 | |
Revolving Facility [Member] | Within One Year [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 1.9 | 1.9 | |
Revolving Facility [Member] | In One to Two Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 1.9 | 1.9 | |
Revolving Facility [Member] | In Two to Three Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 1.6 | 1.9 | |
Revolving Facility [Member] | In Three to Four Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 1.6 | |
Revolving Facility [Member] | In Four to Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | 0 | 0 | |
Revolving Facility [Member] | In More Than Five Years [Member] | |||
Borrowings, maturities [Abstract] | |||
Borrowings maturity | $ 0 | $ 0 |
Finance leases (Details)
Finance leases (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Finance leases [Abstract] | ||
Current | $ 11.8 | $ 13.6 |
Non-current | 11.7 | 14.9 |
Finance lease liabilities | 23.5 | 28.5 |
Finance lease liabilities minimum lease payments [Abstract] | ||
Minimum lease payments | 25.6 | 31.1 |
Future lease charges | (2.1) | (2.6) |
Present value of minimum lease payments | 23.5 | 28.5 |
Carrying value of computer equipment held under finance leases and hire purchase contracts | $ 20.9 | $ 25.9 |
Weighted average fixed interest rate on the outstanding commercial loan and finance lease liabilities | 7.50% | 8.50% |
Within One Year [Member] | ||
Finance lease liabilities minimum lease payments [Abstract] | ||
Minimum lease payments | $ 13.1 | $ 15.1 |
Present value of minimum lease payments | 11.8 | 13.6 |
1-3 Years [Member] | ||
Finance lease liabilities minimum lease payments [Abstract] | ||
Present value of minimum lease payments | 10.8 | 13.3 |
Between Three and Five Years [Member] | ||
Finance lease liabilities minimum lease payments [Abstract] | ||
Present value of minimum lease payments | 0.9 | 1.6 |
Between One and Five Years [Member] | ||
Finance lease liabilities minimum lease payments [Abstract] | ||
Minimum lease payments | $ 12.5 | $ 16 |
Current tax receivables, curr_3
Current tax receivables, current tax liabilities and non-current tax liabilities (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Current tax receivables [Abstract] | ||
Corporation tax | $ 40.1 | $ 24.5 |
Current tax liabilities [Abstract] | ||
Corporation tax | 104 | 124.1 |
Income tax reserve included in current tax liabilities | 78.3 | |
Non-current tax liabilities [Abstract] | ||
Corporation tax | $ 119.7 | $ 131 |
Contract liabilities (Details)
Contract liabilities (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Contract liabilities [Abstract] | ||
Current | $ 1,045.9 | $ 1,134.7 |
Non-current | 149.9 | 178.1 |
Total contract liabilities | 1,195.8 | $ 1,312.8 |
Remaining Performance Obligations [Abstract] | ||
Remaining revenue allocated to future performance obligations | $ 1,468.9 | |
Percentage of revenue expected to be recognized over next 12 months | 80.00% |
Provisions (Details)
Provisions (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 |
Provisions [Abstract] | |||
Current provisions | $ 29.3 | $ 57.4 | |
Non-current provisions | 49.1 | 35.4 | |
Provisions | 78.4 | 92.8 | $ 32.1 |
Onerous Leases and Dilapidations [Member] | |||
Provisions [Abstract] | |||
Current provisions | 9.5 | 11.2 | |
Non-current provisions | 24.7 | 23.9 | |
Provisions | 34.2 | 35.1 | 16.3 |
Restructuring [Member] | |||
Provisions [Abstract] | |||
Current provisions | 12 | 39.2 | |
Non-current provisions | 24.4 | 11.5 | |
Provisions | 36.4 | 50.7 | 12.1 |
Legal [Member] | |||
Provisions [Abstract] | |||
Current provisions | 5.7 | 7 | |
Non-current provisions | 0 | 0 | |
Provisions | 5.7 | 7 | 3.2 |
Other [Member] | |||
Provisions [Abstract] | |||
Current provisions | 2.1 | 0 | |
Non-current provisions | 0 | 0 | |
Provisions | $ 2.1 | $ 0 | $ 0.5 |
Provisions, Continuing operatio
Provisions, Continuing operations and Discontinued operation (Details) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($)Property | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | |
Provisions [Abstract] | ||||
Provisions, beginning balances | $ 92.8 | $ 32.1 | ||
Continuing operations [Abstract] | ||||
Acquisitions | 0.7 | 69.2 | ||
Additional provision in the period | 76.1 | 152.5 | ||
Released | (33.4) | (12.7) | ||
Utilization of provision | (58.6) | (145) | ||
Unwinding of discount | 1.1 | |||
Effects of movements in exchange rates | (0.3) | (3.3) | ||
Discontinued operation [Abstract] | ||||
Additional provision in the period | 3 | |||
Reclassification of current assets classified as held for sale | (3) | |||
Provisions, ending balances | 78.4 | 92.8 | ||
Current provisions | $ 29.3 | $ 57.4 | ||
Non-current provisions | 49.1 | 35.4 | ||
Provisions | 78.4 | 32.1 | 78.4 | 92.8 |
Onerous Leases and Dilapidations [Member] | ||||
Provisions [Abstract] | ||||
Provisions, beginning balances | 35.1 | 16.3 | ||
Continuing operations [Abstract] | ||||
Acquisitions | 0 | 11.3 | ||
Additional provision in the period | 19.2 | 17.7 | ||
Released | (7.4) | (3.9) | ||
Utilization of provision | (13.9) | (5.6) | ||
Unwinding of discount | 1.1 | |||
Effects of movements in exchange rates | 0.1 | (0.7) | ||
Discontinued operation [Abstract] | ||||
Additional provision in the period | 2.8 | |||
Reclassification of current assets classified as held for sale | (2.8) | |||
Provisions, ending balances | 34.2 | 35.1 | ||
Current provisions | 9.5 | 11.2 | ||
Non-current provisions | 24.7 | 23.9 | ||
Provisions | 34.2 | $ 16.3 | 34.2 | 35.1 |
Onerous leases and dilapidations provisions [Abstract] | ||||
Term of onerous lease and dilapidations provision relates is expected to be fully utilized | 8 years | |||
Increase in provisions | $ 29 | |||
Onerous Leases and Dilapidations [Member] | North America [Member] | ||||
Onerous leases and dilapidations provisions [Abstract] | ||||
Number of properties released | Property | 2 | |||
Restructuring [Member] | ||||
Provisions [Abstract] | ||||
Provisions, beginning balances | 50.7 | $ 12.1 | ||
Continuing operations [Abstract] | ||||
Acquisitions | 0 | 21.4 | ||
Additional provision in the period | 49.4 | 133.4 | ||
Released | (19.8) | (3.7) | ||
Utilization of provision | (43.5) | (110) | ||
Unwinding of discount | 0 | |||
Effects of movements in exchange rates | (0.4) | (2.5) | ||
Discontinued operation [Abstract] | ||||
Additional provision in the period | 0.2 | |||
Reclassification of current assets classified as held for sale | (0.2) | |||
Provisions, ending balances | 36.4 | 50.7 | ||
Current provisions | 12 | 39.2 | ||
Non-current provisions | 24.4 | 11.5 | ||
Provisions | 36.4 | 12.1 | 36.4 | 50.7 |
Legal [Member] | ||||
Provisions [Abstract] | ||||
Provisions, beginning balances | 7 | 3.2 | ||
Continuing operations [Abstract] | ||||
Acquisitions | 0 | 36.5 | ||
Additional provision in the period | 5.4 | 1.4 | ||
Released | (6.2) | (4.7) | ||
Utilization of provision | (0.5) | (29.3) | ||
Unwinding of discount | 0 | |||
Effects of movements in exchange rates | 0 | (0.1) | ||
Discontinued operation [Abstract] | ||||
Additional provision in the period | 0 | |||
Reclassification of current assets classified as held for sale | 0 | |||
Provisions, ending balances | 5.7 | 7 | ||
Current provisions | 5.7 | 7 | ||
Non-current provisions | 0 | 0 | ||
Provisions | 7 | 3.2 | 5.7 | 7 |
Other [Member] | ||||
Provisions [Abstract] | ||||
Provisions, beginning balances | 0 | 0.5 | ||
Continuing operations [Abstract] | ||||
Acquisitions | 0.7 | 0 | ||
Additional provision in the period | 2.1 | 0 | ||
Released | 0 | (0.4) | ||
Utilization of provision | (0.7) | (0.1) | ||
Unwinding of discount | 0 | |||
Effects of movements in exchange rates | 0 | 0 | ||
Discontinued operation [Abstract] | ||||
Additional provision in the period | 0 | |||
Reclassification of current assets classified as held for sale | 0 | |||
Provisions, ending balances | 2.1 | 0 | ||
Current provisions | 2.1 | 0 | ||
Non-current provisions | 0 | 0 | ||
Provisions | 2.1 | $ 0.5 | $ 2.1 | $ 0 |
Other provisions [Abstract] | ||||
Interest on uncertain tax provisions | $ 2.1 |
Pension commitments, Defined Co
Pension commitments, Defined Contribution (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Continuing operations [Abstract] | |||
Defined contribution schemes | $ 32.7 | $ 10.9 | $ 43.3 |
Pension commitments, Defined Be
Pension commitments, Defined Benefit (Details) $ in Millions | Sep. 01, 2017Plan | Oct. 31, 2019USD ($)PlanSponsorPlan | Oct. 31, 2018USD ($)CountryPlan |
Within non-current assets [Abstract] | |||
Long-term pension assets | $ | $ 17.1 | $ 16.7 | |
Within non-current liabilities [Abstract] | |||
Retirement benefit obligations | $ | $ (141.4) | $ (110.4) | |
Number of defined benefit plans added | Plan | 27 | ||
Number of defined benefit plans | Plan | 30 | 30 | |
Number of countries under defined benefit plans | Country | 10 | ||
Number of sponsor plans open to new members | SponsorPlan | 10 | ||
Germany [Member] | |||
Within non-current liabilities [Abstract] | |||
Percentage of net retirement benefit obligation | 85.00% | ||
Number of sponsor plans in re-insurance contracts with guaranteed interest rates | SponsorPlan | 3 | ||
Number of plans sponsored | Plan | 11 | ||
Number of sponsor plans open to new members | SponsorPlan | 2 |
Pension commitments, Long-term
Pension commitments, Long-term Pension Assets (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Pension commitments [Abstract] | ||
Beginning of period | $ 16.7 | $ 22 |
Reclassification to assets held for sale | 0.1 | (1.5) |
Interest on non-plan assets | 0.3 | 0.6 |
Benefits paid | (0.1) | (0.2) |
Contributions | 0.3 | 0.5 |
Included within other comprehensive income [Abstract] | ||
Change in fair value assessment | 0.4 | (6.1) |
Actuarial gain on non-plan assets | 0 | 0.3 |
Long-term pension asset, included in other comprehensive income | 0.4 | (5.8) |
Effects of movements in exchange rates | (0.6) | 1.1 |
End of period | 17.1 | 16.7 |
Included within other comprehensive income [Abstract] | ||
Continuing operations | 0.3 | (5.3) |
Discontinued operation | 0.1 | (0.5) |
Long-term pension asset, included in other comprehensive income | $ 0.4 | $ (5.8) |
Pension commitments, Retirement
Pension commitments, Retirement Benefit Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Defined benefit pension arrangements [Abstract] | |||
Current service charge | $ 9 | $ 0.5 | $ 12.6 |
Past service credit | 0 | 0 | (5.5) |
Charge to operating profit | 9 | 0.5 | 7.1 |
Current service charge - discontinued operations | 0.1 | 0.1 | 0.3 |
Interest on pension scheme liabilities | 4.2 | 0.7 | 5.2 |
Interest on pension scheme assets | (1.8) | (0.1) | (2.4) |
Charge to finance costs | 2.4 | 0.6 | 2.8 |
Total continuing charge to profit for the period | 11.5 | 1.2 | 10.2 |
Movements in equity [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | 5.9 | 0 | 0.6 |
Re-measurements - actuarial gains/(losses) [Abstract] | |||
Demographic | (1.6) | 0 | 0.3 |
Financial | (38.8) | 2.8 | (11.1) |
Experience | 8.4 | 0.6 | 1.9 |
Re-measurements actuarial gains/(losses) | (32) | 3.4 | (8.9) |
Reclassification from defined contribution scheme to defined benefit scheme | 0 | (3) | (2.1) |
Movement in the period | (26.1) | 0.4 | (10.4) |
Continuing operations | (26.2) | (0.2) | (8.9) |
Discontinued operation | 0.1 | 0.6 | (1.5) |
Movements in equity | $ (26.1) | $ 0.4 | $ (10.4) |
Pension commitments, Weighted A
Pension commitments, Weighted Average Key Assumptions and Average Life Expectancy (Details) $ in Millions | Oct. 31, 2019USD ($)Employee | Oct. 31, 2018Employee |
Weighted average key assumptions [Abstract] | ||
Rate of increase in final pensionable salary | 2.65% | 2.61% |
Rate of increase in pension payments | 1.75% | 1.99% |
Discount rate | 1.20% | 1.92% |
Inflation | 1.69% | 1.89% |
Germany [Member] | ||
Weighted average key assumptions [Abstract] | ||
Rate of increase in final pensionable salary | 2.50% | 2.50% |
Rate of increase in pension payments | 1.75% | 2.00% |
Discount rate | 1.09% | 1.83% |
Inflation | 1.75% | 2.00% |
Rest of World [Member] | ||
Weighted average key assumptions [Abstract] | ||
Rate of increase in final pensionable salary | 3.09% | 2.75% |
Rate of increase in pension payments | 1.50% | 1.50% |
Discount rate | 1.71% | 2.14% |
Inflation | 1.16% | 1.26% |
Discount Rate [Member] | ||
Weighted average key assumptions [Abstract] | ||
Defined benefit obligation | $ | $ 14 | |
Discount Rate [Member] | Germany [Member] | ||
Weighted average key assumptions [Abstract] | ||
Discount rate | 11.50% | |
Discount Rate [Member] | Rest of World [Member] | ||
Weighted average key assumptions [Abstract] | ||
Discount rate | 6.70% | |
Average Life Expectancy [Member] | ||
Retiring at age 65 at the end of the reporting period [Abstract] | ||
Male | 20 | 20 |
Female | 23 | 23 |
Retiring 15 years after the end of the reporting period [Abstract] | ||
Male | 22 | 22 |
Female | 25 | 25 |
Average Life Expectancy [Member] | Germany [Member] | ||
Retiring at age 65 at the end of the reporting period [Abstract] | ||
Male | 20 | 20 |
Female | 23 | 23 |
Retiring 15 years after the end of the reporting period [Abstract] | ||
Male | 22 | 22 |
Female | 25 | 25 |
Average Life Expectancy [Member] | Rest of World [Member] | ||
Retiring at age 65 at the end of the reporting period [Abstract] | ||
Male | 20 | 20 |
Female | 23 | 23 |
Retiring 15 years after the end of the reporting period [Abstract] | ||
Male | 23 | 22 |
Female | 26 | 25 |
Pension commitments, Net Liabil
Pension commitments, Net Liability (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Net liability [Abstract] | ||
Present value of defined benefit obligations | $ 261.5 | $ 221.2 |
Fair values of plan assets | (120.1) | (110.8) |
Net liability | 141.4 | 110.4 |
Germany [Member] | ||
Net liability [Abstract] | ||
Present value of defined benefit obligations | 213.5 | 173.8 |
Fair values of plan assets | (92) | (82.1) |
Net liability | 121.5 | 91.7 |
Rest of World [Member] | ||
Net liability [Abstract] | ||
Present value of defined benefit obligations | 48 | 47.4 |
Fair values of plan assets | (28.1) | (28.7) |
Net liability | $ 19.9 | $ 18.7 |
Pension commitments, Defined _2
Pension commitments, Defined Benefit Obligation (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Defined Benefit Obligations [Abstract] | |||
Current service cost | $ 9 | $ 0.5 | $ 12.6 |
Contributions by plan participants | 0.3 | 0.5 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Experience | 32 | (3.4) | 8.9 |
Effects of movements in exchange rates | (0.6) | 1.1 | |
Scheme Assets [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | (110.8) | (5.7) | |
HPE Software business acquisition | (110) | ||
Reclassification to assets held for sale | (0.2) | 3.6 | |
Benefits paid | 4.4 | 9.4 | |
Contributions by plan participants | (1.8) | (2.3) | |
Contribution by employer | (4.5) | (4) | |
Interest cost/(income) | (1.8) | (2.4) | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | (5.9) | (0.6) | |
Reclassification from defined contribution scheme to defined benefit scheme | (3.4) | ||
Total increase (decrease) in net defined benefit liability (asset) | (5.9) | (4) | |
Effects of movements in exchange rates | 0.5 | 4.6 | |
End of period | (120.1) | (5.7) | (110.8) |
Scheme Assets [Member] | Germany [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | (82.1) | (5.7) | |
HPE Software business acquisition | (77) | ||
Reclassification to assets held for sale | 0 | 0.7 | |
Benefits paid | 0.3 | 0.1 | |
Contributions by plan participants | (1.5) | (1.5) | |
Contribution by employer | (0.3) | (0.1) | |
Interest cost/(income) | (1.5) | (2) | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | (8) | (0.2) | |
Reclassification from defined contribution scheme to defined benefit scheme | 0 | ||
Total increase (decrease) in net defined benefit liability (asset) | (8) | (0.2) | |
Effects of movements in exchange rates | 1.1 | 3.6 | |
End of period | (92) | (5.7) | (82.1) |
Scheme Assets [Member] | Rest of World [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | (28.7) | 0 | |
HPE Software business acquisition | (33) | ||
Reclassification to assets held for sale | (0.2) | 2.9 | |
Benefits paid | 4.1 | 9.3 | |
Contributions by plan participants | (0.3) | (0.8) | |
Contribution by employer | (4.2) | (3.9) | |
Interest cost/(income) | (0.3) | (0.4) | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | 2.1 | (0.4) | |
Reclassification from defined contribution scheme to defined benefit scheme | (3.4) | ||
Total increase (decrease) in net defined benefit liability (asset) | 2.1 | (3.8) | |
Effects of movements in exchange rates | (0.6) | 1 | |
End of period | (28.1) | 0 | (28.7) |
Defined Benefit Obligations [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 221.2 | 36.5 | |
HPE Software business acquisition | 181.5 | ||
Reclassification to assets held for sale | 0.5 | (9.1) | |
Current service cost | 9.1 | 12.9 | |
Past service credit | 0 | (5.5) | |
Benefits paid | (4.6) | (9.6) | |
Contributions by plan participants | 1.8 | 2.5 | |
Contribution by employer | 0 | 0 | |
Interest cost/(income) | 4.2 | 5.2 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 1.6 | (0.3) | |
Financial | 38.8 | 11.1 | |
Experience | (8.4) | (1.9) | |
Actuarial return on assets excluding amounts included in interest income | 0 | 0 | |
Reclassification from defined contribution scheme to defined benefit scheme | 5.5 | ||
Total increase (decrease) in net defined benefit liability (asset) | 32 | 14.4 | |
Effects of movements in exchange rates | (2.7) | (7.6) | |
End of period | 261.5 | 36.5 | 221.2 |
Defined Benefit Obligations [Member] | Germany [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 173.8 | 36.5 | |
HPE Software business acquisition | 121.1 | ||
Reclassification to assets held for sale | 0.3 | (4.8) | |
Current service cost | 6 | 7.7 | |
Past service credit | 0 | (0.8) | |
Benefits paid | (0.4) | (0.3) | |
Contributions by plan participants | 1.5 | 1.5 | |
Contribution by employer | 0 | 0 | |
Interest cost/(income) | 3.1 | 4 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 1.6 | (0.1) | |
Financial | 34 | 13.8 | |
Experience | (3.2) | 0.5 | |
Actuarial return on assets excluding amounts included in interest income | 0 | 0 | |
Reclassification from defined contribution scheme to defined benefit scheme | 0 | ||
Total increase (decrease) in net defined benefit liability (asset) | 32.4 | 14.2 | |
Effects of movements in exchange rates | (3.2) | (5.3) | |
End of period | 213.5 | 36.5 | 173.8 |
Defined Benefit Obligations [Member] | Rest of World [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 47.4 | 0 | |
HPE Software business acquisition | 60.4 | ||
Reclassification to assets held for sale | 0.2 | (4.3) | |
Current service cost | 3.1 | 5.2 | |
Past service credit | 0 | (4.7) | |
Benefits paid | (4.2) | (9.3) | |
Contributions by plan participants | 0.3 | 1 | |
Contribution by employer | 0 | 0 | |
Interest cost/(income) | 1.1 | 1.2 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | (0.2) | |
Financial | 4.8 | (2.7) | |
Experience | (5.2) | (2.4) | |
Actuarial return on assets excluding amounts included in interest income | 0 | 0 | |
Reclassification from defined contribution scheme to defined benefit scheme | 5.5 | ||
Total increase (decrease) in net defined benefit liability (asset) | (0.4) | 0.2 | |
Effects of movements in exchange rates | 0.5 | (2.3) | |
End of period | 48 | 0 | 47.4 |
Retirement Benefit Obligations [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 110.4 | 30.8 | |
HPE Software business acquisition | 71.5 | ||
Reclassification to assets held for sale | 0.3 | (5.5) | |
Current service cost | 9.1 | 12.9 | |
Past service credit | 0 | (5.5) | |
Benefits paid | (0.2) | (0.2) | |
Contributions by plan participants | 0 | 0.2 | |
Contribution by employer | (4.5) | (4) | |
Interest cost/(income) | 2.4 | 2.8 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 1.6 | (0.3) | |
Financial | 38.8 | 11.1 | |
Experience | (8.4) | (1.9) | |
Actuarial return on assets excluding amounts included in interest income | (5.9) | (0.6) | |
Reclassification from defined contribution scheme to defined benefit scheme | 2.1 | ||
Total increase (decrease) in net defined benefit liability (asset) | 26.1 | 10.4 | |
Effects of movements in exchange rates | (2.2) | (3) | |
End of period | 141.4 | 30.8 | 110.4 |
Retirement Benefit Obligations [Member] | Germany [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 91.7 | 30.8 | |
HPE Software business acquisition | 44.1 | ||
Reclassification to assets held for sale | 0.3 | (4.1) | |
Current service cost | 6 | 7.7 | |
Past service credit | 0 | (0.8) | |
Benefits paid | (0.1) | (0.2) | |
Contributions by plan participants | 0 | 0 | |
Contribution by employer | (0.3) | (0.1) | |
Interest cost/(income) | 1.6 | 2 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 1.6 | (0.1) | |
Financial | 34 | 13.8 | |
Experience | (3.2) | 0.5 | |
Actuarial return on assets excluding amounts included in interest income | (8) | (0.2) | |
Reclassification from defined contribution scheme to defined benefit scheme | 0 | ||
Total increase (decrease) in net defined benefit liability (asset) | 24.4 | 14 | |
Effects of movements in exchange rates | (2.1) | (1.7) | |
End of period | 121.5 | 30.8 | 91.7 |
Retirement Benefit Obligations [Member] | Rest of World [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 18.7 | 0 | |
HPE Software business acquisition | 27.4 | ||
Reclassification to assets held for sale | 0 | (1.4) | |
Current service cost | 3.1 | 5.2 | |
Past service credit | 0 | (4.7) | |
Benefits paid | (0.1) | 0 | |
Contributions by plan participants | 0 | 0.2 | |
Contribution by employer | (4.2) | (3.9) | |
Interest cost/(income) | 0.8 | 0.8 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | (0.2) | |
Financial | 4.8 | (2.7) | |
Experience | (5.2) | (2.4) | |
Actuarial return on assets excluding amounts included in interest income | 2.1 | (0.4) | |
Reclassification from defined contribution scheme to defined benefit scheme | 2.1 | ||
Total increase (decrease) in net defined benefit liability (asset) | 1.7 | (3.6) | |
Effects of movements in exchange rates | (0.1) | (1.3) | |
End of period | $ 19.9 | $ 0 | $ 18.7 |
Pension commitments, Major Cate
Pension commitments, Major Categories of Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Oct. 31, 2019 | Oct. 31, 2018 | ||
Major categories of plan assets [Abstract] | |||
Equity instruments | $ 45.3 | $ 51.5 | |
Debt instruments | 55.6 | 42.5 | |
Real estate | 3.1 | 2.1 | |
Cash and cash equivalents | 1.7 | 2.3 | |
Re-insurance contracts with guaranteed interest rates | [1] | 5.6 | 5.5 |
Other | 8.8 | 6.9 | |
Total | $ 120.1 | 110.8 | |
Interest rate for majority re-insurance contracts | 4.00% | ||
Bottom of Range [Member] | |||
Major categories of plan assets [Abstract] | |||
Interest rate for remaining re-insurance contracts | 2.75% | ||
Top of Range [Member] | |||
Major categories of plan assets [Abstract] | |||
Interest rate for remaining re-insurance contracts | 3.25% | ||
Germany [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | $ 39.8 | 42.3 | |
Debt instruments | 46.6 | 34.3 | |
Real estate | 0 | 0 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 5.6 | 5.5 |
Other | 0 | 0 | |
Total | 92 | 82.1 | |
Rest of World [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 5.5 | 9.2 | |
Debt instruments | 9 | 8.2 | |
Real estate | 3.1 | 2.1 | |
Cash and cash equivalents | 1.7 | 2.3 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 8.8 | 6.9 | |
Total | 28.1 | 28.7 | |
Quoted [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 39.8 | 49.9 | |
Debt instruments | 49.6 | 37.4 | |
Real estate | 0 | 2 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 0 | 0 | |
Total | 89.4 | 89.3 | |
Quoted [Member] | Germany [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 39.8 | 42.3 | |
Debt instruments | 46.6 | 34.3 | |
Real estate | 0 | 0 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 0 | 0 | |
Total | 86.4 | 76.6 | |
Quoted [Member] | Rest of World [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 0 | 7.6 | |
Debt instruments | 3 | 3.1 | |
Real estate | 0 | 2 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 0 | 0 | |
Total | 3 | 12.7 | |
Unquoted [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 5.5 | 1.6 | |
Debt instruments | 6 | 5.1 | |
Real estate | 3.1 | 0.1 | |
Cash and cash equivalents | 1.7 | 2.3 | |
Re-insurance contracts with guaranteed interest rates | [1] | 5.6 | 5.5 |
Other | 8.8 | 6.9 | |
Total | 30.7 | 21.5 | |
Unquoted [Member] | Germany [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 0 | 0 | |
Debt instruments | 0 | 0 | |
Real estate | 0 | 0 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 5.6 | 5.5 |
Other | 0 | 0 | |
Total | 5.6 | 5.5 | |
Unquoted [Member] | Rest of World [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 5.5 | 1.6 | |
Debt instruments | 6 | 5.1 | |
Real estate | 3.1 | 0.1 | |
Cash and cash equivalents | 1.7 | 2.3 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 8.8 | 6.9 | |
Total | $ 25.1 | $ 16 | |
[1] | The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. |
Pension commitments, Sensitivit
Pension commitments, Sensitivities (Details) | 12 Months Ended | |
Oct. 31, 2019 | Oct. 31, 2018 | |
Sensitivities [Abstract] | ||
Weighted average duration of defined benefit obligation | 22 years | |
Discount rate for scheme liabilities | (1.20%) | (1.92%) |
Price inflation | 1.69% | 1.89% |
Salary growth rate | 2.65% | 2.61% |
Germany [Member] | ||
Sensitivities [Abstract] | ||
Weighted average duration of defined benefit obligation | 14 years | |
Discount rate for scheme liabilities | (1.09%) | (1.83%) |
Price inflation | 1.75% | 2.00% |
Salary growth rate | 2.50% | 2.50% |
Rest of World [Member] | ||
Sensitivities [Abstract] | ||
Discount rate for scheme liabilities | (1.71%) | (2.14%) |
Price inflation | 1.16% | 1.26% |
Salary growth rate | 3.09% | 2.75% |
Discount Rate for Scheme Liabilities [Member] | Germany [Member] | ||
Sensitivities [Abstract] | ||
Change in assumption | 0.50% | |
Discount rate for scheme liabilities | (11.50%) | |
Discount Rate for Scheme Liabilities [Member] | Rest of World [Member] | ||
Sensitivities [Abstract] | ||
Change in assumption | 0.50% | |
Discount rate for scheme liabilities | (6.70%) | |
Price Inflation [Member] | Germany [Member] | ||
Sensitivities [Abstract] | ||
Change in assumption | 0.25% | |
Price inflation | 3.80% | |
Price Inflation [Member] | Rest of World [Member] | ||
Sensitivities [Abstract] | ||
Change in assumption | 0.25% | |
Price inflation | 0.90% | |
Salary Growth Rate [Member] | Germany [Member] | ||
Sensitivities [Abstract] | ||
Change in assumption | 0.50% | |
Salary growth rate | 1.00% | |
Salary Growth Rate [Member] | Rest of World [Member] | ||
Sensitivities [Abstract] | ||
Change in assumption | 0.50% | |
Salary growth rate | 3.60% | |
Life expectancy [Member] | Germany [Member] | ||
Sensitivities [Abstract] | ||
Increase in assumed life expectancy | 1 year | |
Percentage of increase in defined benefit obligation due to increase in life expectancy | 3.70% | |
Life expectancy [Member] | Rest of World [Member] | ||
Sensitivities [Abstract] | ||
Increase in assumed life expectancy | 1 year | |
Percentage of increase in defined benefit obligation due to increase in life expectancy | 1.30% |
Other non-current liabilities_2
Other non-current liabilities (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Other non-current liabilities [Abstract] | ||
Accruals | $ 50.4 | $ 58 |
Total other non-current liabilities | 50.4 | 58 |
Accrued employee benefit liability | 33.3 | 31 |
Deferred gain on real estate | 8.1 | 14 |
Contractual IT liability | $ 6.6 | $ 11.3 |
Financial instruments, Values o
Financial instruments, Values of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2019 | Oct. 31, 2018 |
Non-current [Abstract] | ||
Total non-current assets | $ 12,846,700 | $ 13,720,500 |
Current [Abstract] | ||
Total current assets | 1,448,100 | 3,060,100 |
Total assets | 14,294,800 | 16,780,600 |
Non-current [Abstract] | ||
Total non-current liabilities | 6,216,500 | 6,540,500 |
Current [Abstract] | ||
Total current liabilities | 1,802,000 | 2,448,100 |
Total liabilities | 8,018,500 | 8,988,600 |
Fair value of financial liability | 4,686,000 | |
Borrowings (gross) [Member] | ||
Current [Abstract] | ||
Fair value of financial liability | 4,686,000 | |
Financial and Non-financial Liabilities - at Amortized Cost [Member] | ||
Non-current [Abstract] | ||
Non-current financial liabilities | 11,700 | 14,900 |
Non-current non-financial liabilities | 0 | 0 |
Total non-current liabilities | 11,700 | 14,900 |
Current [Abstract] | ||
Financial liabilities | 5,443,700 | 5,795,100 |
Total non-financial liabilities | 80,700 | 0 |
Total liabilities | 5,524,400 | 5,795,100 |
Financial and Non-financial Liabilities - at Amortized Cost [Member] | Derivative Financial Instruments - Interest Rate Swaps [Member] | ||
Non-current [Abstract] | ||
Non-current financial liabilities | 36,500 | 0 |
Non-current non-financial liabilities | 0 | 0 |
Total non-current liabilities | 36,500 | 0 |
Financial and Non-financial Liabilities - at Amortized Cost [Member] | Borrowings (gross) [Member] | ||
Non-current [Abstract] | ||
Non-current financial liabilities | 4,775,000 | 4,946,600 |
Non-current non-financial liabilities | 0 | 0 |
Total non-current liabilities | 4,775,000 | 4,946,600 |
Current [Abstract] | ||
Current financial liabilities | 0 | 50,300 |
Current non-financial liabilities | 0 | 0 |
Total current liabilities | 0 | 50,300 |
Financial and Non-financial Liabilities - at Amortized Cost [Member] | Finance Leases [Member] | ||
Current [Abstract] | ||
Current financial liabilities | 11,800 | 13,600 |
Current non-financial liabilities | 0 | 0 |
Total current liabilities | 11,800 | 13,600 |
Financial and Non-financial Liabilities - at Amortized Cost [Member] | Trade and Other Payables [Member] | ||
Current [Abstract] | ||
Current financial liabilities | 530,300 | 676,900 |
Current non-financial liabilities | 80,700 | 0 |
Total current liabilities | 611,000 | 676,900 |
Financial and Non-financial Liabilities - at Amortized Cost [Member] | Provisions [Member] | ||
Non-current [Abstract] | ||
Non-current financial liabilities | 49,100 | 35,400 |
Non-current non-financial liabilities | 0 | 0 |
Total non-current liabilities | 49,100 | 35,400 |
Current [Abstract] | ||
Current financial liabilities | 29,300 | 57,400 |
Current non-financial liabilities | 0 | 0 |
Total current liabilities | 29,300 | 57,400 |
Financial Assets at Fair Value [Member] | ||
Current [Abstract] | ||
Total financial assets | 1,295,500 | 1,849,600 |
Total non-financial assets | 110,200 | 146,400 |
Total assets | 1,405,700 | 1,996,000 |
Financial Assets at Fair Value [Member] | Long-term Pension Assets [Member] | ||
Non-current [Abstract] | ||
Non-current financial assets | 17,100 | 16,700 |
Non-current non-financial assets | 0 | 0 |
Total non-current assets | 17,100 | 16,700 |
Financial Assets at Fair Value [Member] | Derivative Financial Instruments - Interest Rate Swaps [Member] | ||
Non-current [Abstract] | ||
Non-current financial assets | 0 | 0 |
Non-current non-financial assets | 0 | 86,400 |
Total non-current assets | 0 | 86,400 |
Financial Assets at Fair Value [Member] | Cash and Cash Equivalents [Member] | ||
Current [Abstract] | ||
Current financial assets | 355,700 | 620,900 |
Current non-financial assets | 0 | |
Total current assets | 355,700 | 620,900 |
Financial Assets at Fair Value [Member] | Trade and Other Receivables [Member] | ||
Current [Abstract] | ||
Current financial assets | 922,700 | 1,212,000 |
Current non-financial assets | 110,200 | 60,000 |
Total current assets | $ 1,032,900 | $ 1,272,000 |
Financial instruments, Forward
Financial instruments, Forward Contract Not Designated Forward Contracts not Designated for Formal Hedge Accounting (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Disclosure of financial assets [Abstract] | ||
Derivative financial instruments- non-current asset | $ 0 | $ 86.4 |
Categories of non-current financial liabilities [abstract] | ||
Derivative financial instruments- non-current liabilities | (36.5) | 0 |
Interest Rate Swap Contracts [Member] | ||
Categories of non-current financial liabilities [abstract] | ||
Derivative financial instruments- non-current liabilities | (36.5) | 0 |
Interest Rate Swap Contract [Member] | ||
Disclosure of financial assets [Abstract] | ||
Derivative financial instruments- non-current asset | $ 0 | $ 86.4 |
Financial instruments, Derivati
Financial instruments, Derivative Financial Instruments (Details) $ in Millions | 12 Months Ended | 18 Months Ended | 30 Months Ended | |
Oct. 31, 2019USD ($)Swap | Oct. 31, 2018USD ($) | Oct. 31, 2019USD ($) | Apr. 30, 2017USD ($) | |
Derivative Financial Instruments [Abstract] | ||||
Number of interest rate swaps | Swap | 4 | |||
Borrowings | $ 4,670.7 | $ 4,845.9 | $ 4,670.7 | |
Derivative financial instruments relating to hedging transactions [Abstract] | ||||
Carrying amount | (36.5) | 0 | (36.5) | |
Carrying amount | 0 | $ 86.4 | 0 | |
LIBOR [Member] | ||||
Derivative Financial Instruments [Abstract] | ||||
Current margin on interest rate | 1.00% | |||
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | ||||
Derivative Financial Instruments [Abstract] | ||||
Borrowings | $ 2,486.3 | $ 2,580.5 | $ 2,486.3 | $ 0 |
Current margin on interest rate | 0.00% | 0.00% | ||
Interest rate percentage | 2.50% | 2.50% | ||
Derivatives Financial Instruments [Member] | ||||
Derivative Financial Instruments [Abstract] | ||||
Number of interest rate swaps | Swap | 4 | |||
Percentage of dollar loan principal outstanding covered by notional value | 52.70% | |||
Base interest rate percentage | 1.949% | |||
Net interest received for swap | $ 9.9 | $ 6.5 | ||
Derivative financial instruments relating to hedging transactions [Abstract] | ||||
Carrying amount | (36.5) | (36.5) | ||
Carrying amount | $ 86.4 | |||
Notional amount | $ 2,250 | $ 2,250 | 2,250 | |
Maturity date | Sep. 30, 2022 | Sep. 30, 2022 | ||
Change in fair value of outstanding hedging instruments | $ (122.9) | $ 86.4 | ||
Change in value of hedging instruments adjusted for credit risk | (121.9) | $ 84.7 | ||
Derivatives Financial Instruments [Member] | Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | ||||
Derivative Financial Instruments [Abstract] | ||||
Borrowings | $ 2,486.3 | $ 2,486.3 | ||
Current margin on interest rate | 2.50% | 2.50% | ||
Interest rate percentage | 4.44% | 4.44% |
Financial instruments, Maximum
Financial instruments, Maximum Exposure to Credit Risk (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Exposure to Credit Risk [Abstract] | ||||
Trade receivables (gross) | $ 835.5 | $ 1,047.7 | ||
Cash and cash equivalents | 355.7 | 620.9 | $ 151 | $ 667.2 |
Credit Risk [member] | ||||
Exposure to Credit Risk [Abstract] | ||||
Trade receivables (gross) | 877.9 | 1,089.6 | ||
Cash and cash equivalents | 355.7 | 620.9 | ||
Total | $ 1,233.6 | $ 1,710.5 |
Financial instruments, Loss All
Financial instruments, Loss Allowance for Trade Receivable on Adoption of IFRS 9 (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Loss Allowance for Trade Receivables [Abstract] | ||
Beginning balance | $ 41.9 | $ 2.6 |
Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) | 20 | 0 |
Revised beginning balance | 61.9 | 2.6 |
Loss allowance provided in the period | 16 | 40 |
Receivables written off as uncollectable | (35.5) | (0.7) |
Ending balance | $ 42.4 | $ 41.9 |
Financial instruments, Foreign
Financial instruments, Foreign exchange risk (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Exposure to Foreign Exchange Risk [Abstract] | |||
Foreign exchange gain (loss) | $ (18.2) | $ 2.9 | $ 37.4 |
Currency Risk [Member] | |||
Exposure to Foreign Exchange Risk [Abstract] | |||
Foreign exchange gain (loss) | $ (11.3) | $ 37.4 |
Financial instruments, Sensitiv
Financial instruments, Sensitivity Analysis (Details) $ in Thousands | 18 Months Ended |
Oct. 31, 2018USD ($) | |
LIBOR [Member] | |
Sensitivity Analysis [Abstract] | |
Borrowings interest rate percentage | 1.00% |
Currency Risk [Member] | Euro [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | $ 512,600 |
Currency Risk [Member] | GBP [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 137,200 |
Currency Risk [Member] | JPY [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 69,600 |
Currency Risk [Member] | ILS [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 36,700 |
Currency Risk [Member] | CAN$ [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 26,100 |
+-5% [Member] | Euro [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 25,600 |
+-5% [Member] | GBP [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 6,800 |
+-5% [Member] | JPY [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 3,500 |
+-5% [Member] | ILS [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 1,800 |
+-5% [Member] | CAN$ [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 1,300 |
+-10% [Member] | Euro [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 51,200 |
+-10% [Member] | GBP [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 13,700 |
+-10% [Member] | JPY [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 6,900 |
+-10% [Member] | ILS [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 3,700 |
+-10% [Member] | CAN$ [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 2,600 |
+-1% Interest [member] | |
Sensitivity Analysis [Abstract] | |
Interest rate exposures | $ 47,750 |
Financial instruments, Capital
Financial instruments, Capital Structure of Group at Statement of Financial Position Date (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | |
Capital Risk Management [Abstract] | ||||
Bank and other borrowings (net of arrangement fees) | $ 4,670.7 | $ 4,845.9 | ||
Finance lease obligations | 23.5 | 28.5 | ||
Less cash and cash equivalents | (355.7) | (620.9) | $ (151) | $ (667.2) |
Total equity | 6,276.3 | 7,792 | 1,613.5 | $ 1,593.7 |
Unamortized prepaid facility arrangement fees | 104.3 | 151 | ||
Bank loan secured [Member] | ||||
Capital Risk Management [Abstract] | ||||
Bank and other borrowings (net of arrangement fees) | $ 4,775 | 4,996.9 | $ 1,595.2 | |
Capital Risk Management [Member] | ||||
Capital Risk Management [Abstract] | ||||
Minimum percentage of revolving facility outstanding | 35.00% | |||
Bank and other borrowings (net of arrangement fees) | $ 4,670.7 | 4,845.9 | ||
Finance lease obligations | 23.5 | 28.5 | ||
Less cash and cash equivalents | (355.7) | (620.9) | ||
Total net debt | 4,338.5 | 4,253.5 | ||
Total equity | $ 6,276.3 | $ 7,792 | ||
Debt/equity % | 69.10% | 54.60% |
Financial instruments, Change i
Financial instruments, Change in Liabilities Arising from Financing Activities for Interest Bearing Loans and Finance Leases (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2019 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Interest bearing loans [Roll Forward] | ||||
Beginning balance | $ 4,845.9 | |||
Draw down | 0 | $ 180 | $ 1,043.8 | |
Repayments | $ (200) | (212.6) | (372.1) | (252.9) |
Ending balance | 4,670.7 | 4,845.9 | ||
Finance Leases [Roll Forward] | ||||
Beginning balance | 28.5 | |||
New leases | 9 | |||
Repayments | (14.9) | |||
Foreign exchange | 0.9 | |||
Ending balance | 23.5 | 28.5 | ||
Total [Roll Forward] | ||||
Beginning balance | 5,025.4 | |||
Draw down/New leases | 9 | |||
Repayments | (227.5) | |||
Foreign exchange | (8.4) | |||
Ending balance | 4,798.5 | 5,025.4 | ||
Bank Loan Secured [Member] | ||||
Interest bearing loans [Roll Forward] | ||||
Beginning balance | 4,996.9 | 1,595.2 | ||
Draw down | 0 | 1,043.8 | ||
Repayments | (212.6) | (252.9) | ||
Foreign exchange | (9.3) | 10.8 | ||
Ending balance | $ 4,775 | $ 1,595.2 | $ 4,996.9 |
Deferred tax, Net Deferred Tax
Deferred tax, Net Deferred Tax Liability (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Net Deferred tax liability [Abstract] | |||
Net Deferred tax liability | $ (1,170.5) | $ (118.5) | |
Credited/(debited) to consolidated statement of comprehensive income | 188.7 | (17.1) | |
Credited directly to equity in relation to share options | (7.6) | (23.7) | |
Credited to other comprehensive income | 27 | 4.3 | |
Acquisition of subsidiaries | 0 | (1,957.4) | |
Impact of adoption of IFRS standard | (17.3) | ||
Foreign exchange adjustment | (11.8) | 11.6 | |
Reclassification to current assets held for sale | 0 | (1.6) | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | 0 | $ 1.3 | 931.9 |
Net Deferred tax liability | (987.1) | $ (118.5) | (1,170.5) |
IFRS 9 [Member] | |||
Net Deferred tax liability [Abstract] | |||
Impact of adoption of IFRS standard | 4.4 | 0 | |
IFRS 15 [Member] | |||
Net Deferred tax liability [Abstract] | |||
Impact of adoption of IFRS standard | (17.3) | 0 | |
HPE Software Business [Member] | |||
Net Deferred tax liability [Abstract] | |||
Acquisition of subsidiaries | 0 | (1,953.5) | |
COBOL-IT [Member] | |||
Net Deferred tax liability [Abstract] | |||
Acquisition of subsidiaries | 0 | (3.9) | |
Continuing Operations [Member] | |||
Net Deferred tax liability [Abstract] | |||
Credited/(debited) to consolidated statement of comprehensive income | 156.4 | (27.6) | |
Credited to other comprehensive income | 27 | 3.8 | |
Discontinued Operation [Member] | |||
Net Deferred tax liability [Abstract] | |||
Credited/(debited) to consolidated statement of comprehensive income | 32.3 | 10.5 | |
Credited to other comprehensive income | $ 0 | $ 0.5 |
Deferred tax, Deferred Tax Asse
Deferred tax, Deferred Tax Assets (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Deferred tax assets [Abstract] | ||
Deferred tax assets | $ 309.3 | $ 208.2 |
Credited directly to equity | (7.6) | (23.7) |
Debited to Other comprehensive income | 13 | 4.3 |
Foreign exchange adjustment | 0.3 | (0.3) |
Impact of adoption of IFRS standard | (17.3) | |
Reclassification to current assets held for sale | 0 | (1.6) |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | (57.9) | |
Deferred tax assets | 309.5 | 309.3 |
Jurisdictional offsetting | (309.5) | (309.3) |
Deferred tax assets | 0 | 0 |
IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 4.4 | 0 |
Deferred tax assets | 4.4 | |
HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 382.7 | |
Deferred tax asset relating to other temporary differences | 88.6 | 70.8 |
Tax Losses and Interest Restrictions [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 26.6 | 56.7 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | (21.1) | |
Deferred tax assets | 100.5 | 26.6 |
Tax Losses and Interest Restrictions [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Tax Losses and Interest Restrictions [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 4.5 | |
Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 17.4 | 43.7 |
Credited directly to equity | (7.6) | (23.7) |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0.3 | (0.3) |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | (2.4) | |
Deferred tax assets | 5 | 17.4 |
Share Based Payments [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Share Based Payments [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 0 | |
Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 119.9 | 44.5 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | 66.7 | |
Deferred tax assets | 108.6 | 119.9 |
Deferred Revenue [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Deferred Revenue [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | (36.5) | |
Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 41.9 | 0 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | (88.7) | |
Deferred tax assets | 0 | 41.9 |
Prepaid Royalty [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Prepaid Royalty [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 332 | |
Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 29.7 | 33.8 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | 3 | |
Deferred tax assets | 6.8 | 29.7 |
Tax Credits [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Tax Credits [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 39 | |
Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 3 | 5.9 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Impact of adoption of IFRS standard | 0 | |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | (2.1) | |
Deferred tax assets | 0 | 3 |
Intangible Fixed Assets [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Intangible Fixed Assets [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 0 | |
Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 70.8 | 23.6 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 13 | 4.3 |
Foreign exchange adjustment | 0 | 0 |
Impact of adoption of IFRS standard | (17.3) | |
Reclassification to current assets held for sale | (1.6) | |
Effect of change in tax rates - charged to Consolidated statement of comprehensive income | (13.3) | |
Deferred tax assets | 88.6 | 70.8 |
Other Temporary Differences [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 4.4 | |
Other Temporary Differences [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 43.7 | |
Continuing Operations [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 1.7 | (202.4) |
Continuing Operations [Member] | Tax Losses and Interest Restrictions [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 73.9 | (13.5) |
Continuing Operations [Member] | Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (5.1) | 0.1 |
Continuing Operations [Member] | Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (12) | 45.2 |
Continuing Operations [Member] | Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (41.9) | (201.4) |
Continuing Operations [Member] | Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (22.9) | (46.1) |
Continuing Operations [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (3) | (0.8) |
Continuing Operations [Member] | Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 12.7 | $ 14.1 |
Discontinued Operation [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (11.6) | |
Discontinued Operation [Member] | Tax Losses and Interest Restrictions [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | |
Discontinued Operation [Member] | Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | |
Discontinued Operation [Member] | Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0.7 | |
Discontinued Operation [Member] | Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | |
Discontinued Operation [Member] | Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | |
Discontinued Operation [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | |
Discontinued Operation [Member] | Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | $ (12.3) |
Deferred tax, Type of Temporary
Deferred tax, Type of Temporary Difference (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | $ 2,513.3 | $ 2,484.9 |
Credits | 41.8 | 215.9 |
Other | 23.9 | 49.6 |
Total | 2,579 | 2,750.4 |
Expiration: 2020 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 56.3 | 35.2 |
Credits | 3.5 | 2.2 |
Other | 0 | 1.9 |
Total | 59.8 | 39.3 |
Expiration: 2021 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 99.2 | 66.1 |
Credits | 3.6 | 4.4 |
Other | 0 | 0 |
Total | 102.8 | 70.5 |
Expiration: 2022 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 40.1 | 99.2 |
Credits | 2.1 | 4 |
Other | 0 | 0 |
Total | 42.2 | 103.2 |
Expiration: 2023 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 33.6 | 37.5 |
Credits | 1.3 | 2.4 |
Other | 0 | 0 |
Total | 34.9 | 39.9 |
Expiration: 2024 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 41.8 | 33.6 |
Credits | 0.7 | 1.3 |
Other | 0 | 0 |
Total | 42.5 | 34.9 |
Thereafter [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 2,191.6 | 2,117.7 |
Credits | 1.7 | 5.2 |
Other | 0 | 0 |
Total | 2,193.3 | 2,122.9 |
No Expiry [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 50.7 | 95.6 |
Credits | 28.9 | 196.4 |
Other | 23.9 | 47.7 |
Total | $ 103.5 | $ 339.7 |
Deferred tax, Deferred Tax Liab
Deferred tax, Deferred Tax Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended |
Oct. 31, 2019 | Oct. 31, 2018 | |
Deferred tax liabilities [Abstract] | ||
Deferred tax liabilities | $ (1,479.8) | $ (326.7) |
Impact of adoption of IFRS15 | (17.3) | |
Foreign exchange adjustment | (12.1) | 11.9 |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 989.8 | |
Deferred tax liabilities | (1,296.6) | (1,479.8) |
Jurisdictional offsetting | 309.5 | 309.3 |
Deferred tax liabilities, after jurisdictional offsetting | (987.1) | (1,170.5) |
Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Deferred tax liabilities | (1,448.5) | (311.7) |
Impact of adoption of IFRS15 | 0 | |
Foreign exchange adjustment | (12.1) | 11.9 |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 982 | |
Deferred tax liabilities | (1,257.1) | (1,448.5) |
Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Deferred tax liabilities | (31.3) | (15) |
Impact of adoption of IFRS15 | (17.3) | |
Foreign exchange adjustment | 0 | 0 |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 7.8 | |
Deferred tax liabilities | (39.5) | (31.3) |
Continuing Operation [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 154.7 | 174.8 |
Credited to other comprehensive income | 14 | |
Continuing Operation [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 155.5 | 186.8 |
Credited to other comprehensive income | 14 | |
Continuing Operation [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | (0.8) | (12) |
Credited to other comprehensive income | 0 | |
Discontinued Operations [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 43.9 | 10.5 |
Discontinued Operations [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 34 | 10.5 |
Discontinued Operations [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | $ 9.9 | 0 |
HPE Software Business [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (2,336.2) | |
HPE Software Business [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (2,324.1) | |
HPE Software Business [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (12.1) | |
COBOL-IT [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (3.9) | |
COBOL-IT [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (3.9) | |
COBOL-IT [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | $ 0 |
Share capital (Details)
Share capital (Details) $ in Thousands | Apr. 29, 2019£ / sharesshares | Aug. 31, 2017£ / sharesshares | Oct. 31, 2019USD ($)shares | Apr. 30, 2017USD ($)shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2019£ / sharesshares | Oct. 31, 2018£ / sharesshares | Apr. 30, 2017£ / sharesshares |
Share capital, Disclosure [Abstract] | ||||||||
Shares issued and fully paid at beginning of period | $ 65,800 | |||||||
Shares utilized to satisfy option awards | 710,000 | $ 7,700 | ||||||
Share reorganization | 0 | $ 0 | ||||||
Shares issued relating to acquisition of the HPE Software business | 6,514,200 | |||||||
Redemption of shares (in shares) | shares | (413,784,754) | (229,799,802) | ||||||
Redemption of shares | 1,800,000 | 500,000 | ||||||
Shares issued and fully paid at end of period | 47,200 | 65,800 | ||||||
Nominal value per share (in pounds per share) | £ / shares | £ 335.89 | £ 168 | £ 1,963 | |||||
Proceeds from issuing shares | $ 3,100 | $ 2,000 | $ 5,800 | |||||
Number of treasury shares held (in shares) | shares | 30,200,905 | 9,858,205 | 0 | |||||
Number of shares with voting rights (in shares) | shares | 333,382,423 | 426,942,308 | 229,674,479 | |||||
Number of share options (in shares) | shares | 14,533,973 | 8,607,889 | 18,156,060 | |||||
Ordinary Shares [Member] | ||||||||
Share capital, Disclosure [Abstract] | ||||||||
Shares issued and fully paid at beginning of period (in shares) | shares | 436,800,513 | 228,706,210 | 229,674,479 | |||||
Shares issued and fully paid at beginning of period | $ 65,800 | $ 39,600 | $ 39,700 | |||||
Shares issued to satisfy option awards (in shares) | shares | 6,109,091 | 968,269 | 1,894,673 | |||||
Shares issued to satisfy option awards | $ 100 | $ 100 | $ 200 | |||||
Shares utilized to satisfy option awards (in shares) | shares | (4,804,817) | 0 | 0 | |||||
Shares utilized to satisfy option awards | $ 0 | $ 0 | $ 0 | |||||
Share reorganization (in shares) | shares | (74,521,459) | 0 | (16,935,536) | |||||
Share reorganization | $ (18,700) | $ 0 | $ (2,900) | |||||
Shares issued relating to acquisition of the HPE Software business | shares | 0 | 0 | 222,166,897 | |||||
Shares issued relating to acquisition of the HPE Software business | $ 0 | $ 0 | $ 28,800 | |||||
Shares issued and fully paid at end of period (in shares) | shares | 363,583,328 | 229,674,479 | 436,800,513 | |||||
Shares issued and fully paid at end of period | $ 47,200 | $ 39,700 | $ 65,800 | |||||
Nominal value per share (in pounds per share) | £ / shares | £ 0.1 | £ 0.1 | £ 0.1 | |||||
B Shares [Member] | ||||||||
Share capital, Disclosure [Abstract] | ||||||||
Shares issued and fully paid at beginning of period (in shares) | shares | 0 | 0 | 0 | |||||
Shares issued and fully paid at beginning of period | $ 0 | $ 0 | $ 0 | |||||
Shares issued to satisfy option awards (in shares) | shares | 413,784,754 | 0 | 229,799,802 | |||||
Shares issued to satisfy option awards | $ 1,800,000 | $ 0 | $ 500,000 | |||||
Redemption of shares (in shares) | shares | (413,784,754) | 0 | (229,799,802) | |||||
Redemption of shares | $ (1,800,000) | $ 0 | $ (500,000) | |||||
Shares issued and fully paid at end of period (in shares) | shares | 0 | 0 | 0 | |||||
Shares issued and fully paid at end of period | $ 0 | $ 0 | $ 0 | |||||
Nominal value per share (in pounds per share) | £ / shares | 335.8593 | 1.68 | ||||||
Deferred Class D Shares [Member] | ||||||||
Share capital, Disclosure [Abstract] | ||||||||
Shares issued and fully paid at beginning of period (in shares) | shares | 0 | 0 | 0 | |||||
Shares issued and fully paid at beginning of period | $ 0 | $ 0 | $ 0 | |||||
Issue of deferred shares (in shares) | shares | 74,521,459 | 0 | 0 | |||||
Issue of deferred shares | $ 0 | $ 0 | $ 0 | |||||
Redemption of shares (in shares) | shares | (74,521,459) | 0 | 0 | |||||
Redemption of shares | $ 0 | $ 0 | $ 0 | |||||
Shares issued and fully paid at end of period (in shares) | shares | 0 | 0 | 0 | |||||
Shares issued and fully paid at end of period | $ 0 | $ 0 | $ 0 | |||||
Nominal value per share (in pounds per share) | £ / shares | £ 0.1 | £ 0.1 |
Share capital, Share buy-back (
Share capital, Share buy-back (Details) - USD ($) $ in Millions | Feb. 14, 2019 | Oct. 31, 2019 | Apr. 30, 2017 | Jul. 17, 2019 | Nov. 05, 2018 | Aug. 29, 2018 |
Share buy-back [Abstract] | ||||||
Amount authorized under buy-back program | $ 110 | $ 200 | $ 400 | $ 200 | ||
Shares repurchased | $ 710 | $ 7.7 | ||||
Expiration date | Mar. 29, 2019 | |||||
Top of Range [Member] | ||||||
Share buy-back [Abstract] | ||||||
Number of ordinary shares authorized for repurchase (in shares) | 65,211,171 |
Share capital, Treasury Share M
Share capital, Treasury Share Movements and Share buy-back Costs (Details) £ / shares in Units, £ in Millions, $ in Millions | Apr. 29, 2019USD ($)£ / $shares | Apr. 29, 2019GBP (£)£ / $shares | Aug. 31, 2017USD ($)£ / $shares | Oct. 31, 2019USD ($)shares | Oct. 31, 2019USD ($)£ / sharesshares | Apr. 30, 2017USD ($)shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2018USD ($)£ / sharesshares | Oct. 31, 2019£ / shares | Apr. 29, 2019£ / shares | Aug. 31, 2017£ / shares |
Share buy-back [Abstract] | |||||||||||
Number of treasury shares held (in shares) | 30,200,905 | 30,200,905 | 0 | 9,858,205 | 9,858,205 | ||||||
Share Buy Back Costs [Abstract] | |||||||||||
Share buy-back cost | $ | $ 710 | $ 7.7 | |||||||||
Return on Investment to Share Holders [Abstract] | |||||||||||
Average share price (in pounds per share) | £ / shares | £ 14.61 | £ 13.82 | |||||||||
Return value to share holders | $ 1,800 | £ 1,389.7 | $ 500 | ||||||||
Shares issued to satisfy option awards (in shares) | 413,784,754 | 413,784,754 | 229,799,802 | ||||||||
Redemption of shares (in shares) | 413,784,754 | 413,784,754 | 229,799,802 | ||||||||
Nominal value per share (in pounds per share) | £ / shares | £ 1,963 | £ 335.89 | £ 168 | ||||||||
Increase in the capital redemption reserve | $ | (1,800) | $ (500) | |||||||||
Return of value effected through an issue and redemption of B shares | $ 1,800 | £ 1,389.7 | $ 500 | ||||||||
Net transaction costs of foreign exchange contract | $ | $ 1 | 99.6 | £ 99.6 | 70 | £ 70 | ||||||
Share consolidation ratio | £ / $ | 0.8296 | 0.8296 | 0.9263 | ||||||||
Amount transferred to capital redemption reserve | $ | $ 18.7 | $ 2.9 | |||||||||
Reserves Other [Member] | |||||||||||
Return on Investment to Share Holders [Abstract] | |||||||||||
Increase in the capital redemption reserve | $ | 0 | 156.7 | |||||||||
Capital Redemption Reserves [Member] | |||||||||||
Return on Investment to Share Holders [Abstract] | |||||||||||
Increase in the capital redemption reserve | $ | $ 1,800 | 500 | 1,800 | 500 | |||||||
Merger Reserve [Member] | |||||||||||
Return on Investment to Share Holders [Abstract] | |||||||||||
Increase in the capital redemption reserve | $ | (343.3) | $ (1,800) | (343.3) | ||||||||
Treasury Shares [member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 39,018,259 | ||||||||||
Shares utilized to satisfy option awards (in shares) | (4,804,817) | ||||||||||
Share reorganization (in shares) | (4,012,537) | ||||||||||
Number of treasury shares held (in shares) | 30,200,905 | 30,200,905 | |||||||||
Share Buy Back Costs [Abstract] | |||||||||||
Share buy-back cost | $ | $ 710 | ||||||||||
Expenses amount | $ | 6.4 | ||||||||||
Share buy-back costs, net | $ | $ 716.4 | ||||||||||
Treasury Shares [member] | London Stock Exchange [Member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 34,334,578 | ||||||||||
Treasury Shares [member] | New York Stock Exchange [Member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 4,683,681 | ||||||||||
Share Premium [Member] | |||||||||||
Share Buy Back Costs [Abstract] | |||||||||||
Share buy-back cost | $ | 0 | ||||||||||
Return on Investment to Share Holders [Abstract] | |||||||||||
Increase in the capital redemption reserve | $ | $ (156.7) | $ 0 | $ 0 | $ (156.7) | |||||||
Share Buy-back Program 2018 [Member] | Treasury Shares [member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 29,160,054 | ||||||||||
Shares utilized to satisfy option awards (in shares) | (4,804,817) | ||||||||||
Share reorganization (in shares) | (4,012,537) | ||||||||||
Number of treasury shares held (in shares) | 20,342,700 | 20,342,700 | |||||||||
Share Buy Back Costs [Abstract] | |||||||||||
Share buy-back cost | $ | $ 538.8 | ||||||||||
Expenses amount | $ | 5.9 | ||||||||||
Share buy-back costs, net | $ | $ 544.7 | ||||||||||
Share Buy-back Program 2018 [Member] | Treasury Shares [member] | London Stock Exchange [Member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 25,766,919 | ||||||||||
Share Buy-back Program 2018 [Member] | Treasury Shares [member] | New York Stock Exchange [Member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 3,393,135 | ||||||||||
Share Buy-back Program 2019 [Member] | Treasury Shares [member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 9,858,205 | ||||||||||
Shares utilized to satisfy option awards (in shares) | 0 | ||||||||||
Share reorganization (in shares) | 0 | ||||||||||
Number of treasury shares held (in shares) | 9,858,205 | 9,858,205 | |||||||||
Share Buy Back Costs [Abstract] | |||||||||||
Share buy-back cost | $ | $ 171.2 | ||||||||||
Expenses amount | $ | 0.5 | ||||||||||
Share buy-back costs, net | $ | $ 171.7 | ||||||||||
Share Buy-back Program 2019 [Member] | Treasury Shares [member] | London Stock Exchange [Member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 8,567,659 | ||||||||||
Share Buy-back Program 2019 [Member] | Treasury Shares [member] | New York Stock Exchange [Member] | |||||||||||
Share buy-back [Abstract] | |||||||||||
Number of shares buy-back (in shares) | 1,290,546 |
Share premium account (Details)
Share premium account (Details) - USD ($) $ in Millions | Aug. 31, 2017 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 |
Share premium account [Abstract] | ||||
Beginning balance | $ 41 | |||
Issue and redemption of B shares | (1,800) | $ (500) | ||
Movement in relation to share options exercised | (0.7) | $ 1.8 | 5.8 | |
Ending balance | 44 | 41 | ||
Share Premium Account [Member] | ||||
Share premium account [Abstract] | ||||
Beginning balance | 41 | 190.3 | 192.1 | |
Issue and redemption of B shares | $ (156.7) | 0 | 0 | (156.7) |
Movement in relation to share options exercised | 3 | 1.8 | 5.6 | |
Ending balance | $ 44 | $ 192.1 | $ 41 |
Other reserves (Details)
Other reserves (Details) - USD ($) $ in Millions | Apr. 29, 2019 | Aug. 31, 2017 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | Sep. 01, 2017 | |||
Reconciliation of other reserves [Roll forward] | |||||||||
Return of Value - share consolidation | $ 0 | $ 0 | |||||||
Issue and redemption of B shares | (1,800) | (500) | |||||||
Acquisition of the HPE Software business | 6,514.2 | ||||||||
Reallocation of merger reserve | 0 | $ 0 | 0 | ||||||
Other reserve transaction details [Abstract] | |||||||||
Amount recognised in hedging reserve in relation to hedging transactions | $ 1 | 99.6 | 70 | ||||||
Merger reserve | 1,739.8 | 3,724.4 | |||||||
Reserves balance not required for any Returns of Value to shareholders | 215.4 | ||||||||
Amount expected to be settled in qualifying consideration | 184.6 | ||||||||
HPE Software Business [Member] | |||||||||
Other reserve transaction details [Abstract] | |||||||||
Merger reserve | $ 6,485.4 | ||||||||
Share Premium [Member] | |||||||||
Reconciliation of other reserves [Roll forward] | |||||||||
Return of Value - share consolidation | 0 | 0 | |||||||
Issue and redemption of B shares | $ (156.7) | 0 | 0 | (156.7) | |||||
Acquisition of the HPE Software business | 0 | ||||||||
Reallocation of merger reserve | 0 | 0 | 0 | ||||||
Other Reserves [Member] | |||||||||
Reconciliation of other reserves [Roll forward] | |||||||||
Beginning balance | 4,460.7 | 1,151.5 | 501.5 | ||||||
Return of Value - share consolidation | 18.7 | 2.9 | |||||||
Issue and redemption of B shares | 0 | 156.7 | |||||||
Hedge accounting | [1] | (122.9) | 86.4 | ||||||
Current tax movement on hedging | [1] | 23.3 | (16.4) | ||||||
Acquisition of the HPE Software business | [2] | 6,485.4 | |||||||
Reallocation of merger reserve | (184.6) | [3] | (650) | (2,755.8) | [3] | ||||
Ending balance | 4,195.2 | 501.5 | 4,460.7 | ||||||
Capital Redemption Reserve [Member] | |||||||||
Reconciliation of other reserves [Roll forward] | |||||||||
Beginning balance | 666.3 | 163.4 | 163.4 | ||||||
Return of Value - share consolidation | 18.7 | 2.9 | |||||||
Issue and redemption of B shares | $ 1,800 | 500 | 1,800 | 500 | |||||
Hedge accounting | [1] | 0 | 0 | ||||||
Current tax movement on hedging | [1] | 0 | 0 | ||||||
Acquisition of the HPE Software business | [2] | 0 | |||||||
Reallocation of merger reserve | 0 | [3] | 0 | 0 | [3] | ||||
Ending balance | 2,485 | 163.4 | 666.3 | ||||||
Merger Reserve [Member] | |||||||||
Reconciliation of other reserves [Roll forward] | |||||||||
Beginning balance | 3,724.4 | 988.1 | 338.1 | ||||||
Return of Value - share consolidation | 0 | 0 | |||||||
Issue and redemption of B shares | $ (343.3) | (1,800) | (343.3) | ||||||
Hedge accounting | [1] | 0 | 0 | ||||||
Current tax movement on hedging | [1] | 0 | 0 | ||||||
Acquisition of the HPE Software business | [2] | 6,485.4 | |||||||
Reallocation of merger reserve | (184.6) | [3] | (650) | (2,755.8) | [3] | ||||
Ending balance | 1,739.8 | 338.1 | 3,724.4 | ||||||
Other reserve transaction details [Abstract] | |||||||||
Amount of reallocation reserves settled | 2,540.4 | 2,540.4 | |||||||
Hedging Reserve [Member] | |||||||||
Reconciliation of other reserves [Roll forward] | |||||||||
Beginning balance | 70 | 0 | 0 | ||||||
Return of Value - share consolidation | 0 | 0 | |||||||
Issue and redemption of B shares | 0 | 0 | |||||||
Hedge accounting | [1] | (122.9) | 86.4 | ||||||
Current tax movement on hedging | [1] | 23.3 | (16.4) | ||||||
Acquisition of the HPE Software business | [2] | 0 | |||||||
Reallocation of merger reserve | 0 | [3] | 0 | 0 | [3] | ||||
Ending balance | $ (29.6) | $ 0 | $ 70 | ||||||
[1] | A debit of $99.6m was recognized in the hedging reserve in relation to hedging transactions entered into in the 12 months ended October 31, 2019 (18 months ended October 31, 2018: $70.0m credit). | ||||||||
[2] | On September 1, 2017, the acquisition of the HPE Software business was completed (note 38). As a result of this a merger reserve was created of $6,485.4m. The acquisition was structured by way of equity consideration; this transaction fell within the provisions of section 612 of the Companies Act 2006 (merger relief) such that no share premium was recorded in respect of the shares issued. The parent company chose to record its investment in the HPE Software business at fair value and therefore recorded a merger reserve equal to the value of the share premium which would have been recorded had section 612 of the Companies Act 2006 not been applicable (i.e. equal to the difference between the fair value of the HPE Software business and the aggregate nominal value of the shares issued). | ||||||||
[3] | In the 12 months ended October 31, 2019, an amount of $184.6m was transferred from the merger reserve to retained earnings. The merger reserve is an unrealized profit until it can be realized by the settlement of the intercompany loan by qualifying consideration. In the 18 months ended October 31, 2018, it was disclosed that $2,755.8m of the merger reserve would be settled in the period. However, as at October 31, 2019, only $2,540.4m of the balance was settled as the balance of $215.4m was not required for any Returns of Value to shareholders. However, the remaining $215.4m and an additional $184.6m is expected to be settled in qualifying consideration during the year ended October 31, 2020 (18 months ended October 31, 2018: $2,540.4m) and as such an equivalent proportion of the merger reserve is considered realized, in accordance with section 3.11(d) of Tech 02/17 and therefore has been transferred to retained earnings. An amount of $650.0m was transferred from the merger reserve to retained earnings in the 12 months ended April 30, 2017. |
Non-controlling interests (Deta
Non-controlling interests (Details) $ in Thousands | Oct. 25, 2019USD ($)shares | Oct. 25, 2019JPY (¥)shares | Oct. 31, 2019USD ($) | Apr. 30, 2017USD ($) | Oct. 31, 2018USD ($) |
Non-controlling interests, Disclosure [Abstract] | |||||
Non-controlling interests, beginning period | $ 1,000 | ||||
Share of profit after tax | 300 | $ (100) | $ 100 | ||
Non-controlling interests, period end | 1,300 | 1,000 | |||
Novell Japan, Ltd [Member] | |||||
Non-controlling interests, Disclosure [Abstract] | |||||
Payment made to minority shareholders | $ 3,140 | ¥ 340,700 | |||
Number of shares acquired (in shares) | shares | 170,350 | 170,350 | |||
Non-controlling interests, beginning period | 1,000 | 1,000 | 900 | ||
Share of profit after tax | 300 | (100) | 100 | ||
Non-controlling interests, period end | $ 1,300 | $ 900 | $ 1,000 | ||
Proportion of equity interest held by non-controlling interests [Abstract] | |||||
Country of incorporation and operation of non-controlling interests | Japan | Japan | |||
Percentage of ownership interests held by non-controlling interests | 84.24% | 74.70% | 81.05% |
Employees and directors, Staff
Employees and directors, Staff Costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Staff Costs [Abstract] | |||
Wages and salaries | $ 1,204.4 | $ 382.5 | $ 1,819.2 |
Redundancy and termination costs (non-exceptional) | 0.5 | 2.1 | 2.1 |
Social security costs | 93.6 | 53.2 | 159 |
Other pension costs | 41.7 | 11.4 | 50.4 |
Short-term employee benefits expense | 1,340.2 | 449.2 | 2,030.7 |
Cost of employee share schemes (Share-based payments section) | 68.8 | 31.5 | 64.3 |
Total | $ 1,409 | $ 480.7 | $ 2,095 |
Employees and directors, Pensio
Employees and directors, Pension Costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Pension costs comprise [Abstract] | |||
Defined benefit schemes | $ 9 | $ 0.5 | $ 7.1 |
Defined contribution schemes | 32.7 | 10.9 | 43.3 |
Total | $ 41.7 | $ 11.4 | $ 50.4 |
Employees and directors, Averag
Employees and directors, Average Monthly Number of People Employed (Details) - Employee | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Average number of employees [Abstract] | |||
Sales and distribution | 5,577 | 2,141 | 6,375 |
Research and development | 5,226 | 1,876 | 4,952 |
General and administration | 1,994 | 646 | 1,386 |
Average monthly number of people (including executive directors) employed by the Group | 12,797 | 4,663 | 12,713 |
Continuing Operations [Member] | |||
Average number of employees [Abstract] | |||
Sales and distribution | 5,413 | 1,818 | 5,860 |
Research and development | 5,056 | 1,400 | 4,323 |
General and administration | 1,991 | 642 | 1,378 |
Average monthly number of people (including executive directors) employed by the Group | 12,460 | 3,860 | 11,561 |
Discontinued Operation [Member] | |||
Average number of employees [Abstract] | |||
Sales and distribution | 164 | 323 | 515 |
Research and development | 170 | 476 | 629 |
General and administration | 3 | 4 | 8 |
Average monthly number of people (including executive directors) employed by the Group | 337 | 803 | 1,152 |
Employees and directors, Share
Employees and directors, Share Based Payments to Directors (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Share based payments [Abstract] | |||
Aggregate emoluments | $ 1,204.4 | $ 382.5 | $ 1,819.2 |
Company contributions to money purchase pension scheme | 32.7 | 10.9 | 43.3 |
Directors [Member] | |||
Share based payments [Abstract] | |||
Aggregate emoluments | 3.7 | 5.2 | 14.6 |
Aggregate gains made on the exercise of share options | 79.7 | 8.2 | 77.7 |
Company contributions to money purchase pension scheme | 0 | 0.5 | 0.7 |
Total | $ 83.4 | $ 13.9 | $ 93 |
Employees and directors, Key Ma
Employees and directors, Key Management Compensation (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Key management compensation [Abstract] | |||
Short-term employee benefits | $ 9.5 | $ 8 | $ 25.9 |
Share based payments | 25.3 | 9.4 | 44.5 |
Total key management compensation | 34.8 | $ 17.4 | $ 70.4 |
Post-employment benefits | $ 0 |
Employees and directors, Shar_2
Employees and directors, Share Based Payments on Continuing Operations Basis (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |
Share based payment arrangement [Abstract] | |||
Share-based payments in comprehensive income | $ 71.3 | $ 72.2 | |
Share-based compensation - IFRS 2 charge | 62 | $ 20.8 | 70.9 |
Employer taxes | 6.8 | 10.7 | (6.6) |
Share-based compensation payments | 68.8 | 31.5 | 64.3 |
Trade and Other Payables [Member] | |||
Share based payment arrangement [Abstract] | |||
Employer taxes | 1.9 | 17 | 20.6 |
Other Non-current Liabilities [Member] | |||
Share based payment arrangement [Abstract] | |||
Employer taxes | $ 0 | $ 1.2 | $ 0.5 |
Employees and directors, Incent
Employees and directors, Incentive Plan 2005 (Details) £ / shares in Units, $ in Millions | Apr. 19, 2011GBP (£) | Apr. 17, 2011 | Oct. 31, 2019USD ($)sharesyr | Oct. 31, 2019£ / shares | Apr. 30, 2017USD ($)shares | Oct. 31, 2018USD ($)sharesyr | Oct. 31, 2018£ / shares | Oct. 31, 2019shares£ / shares | Oct. 31, 2018shares£ / shares | Apr. 30, 2017shares£ / shares |
Number of Options [Abstract] | ||||||||||
Exercised (in shares) | shares | (14,533,973) | (8,607,889) | (18,156,060) | |||||||
Outstanding at ending period (in shares) | shares | 1,192,000 | |||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Share based compensation charge | $ | $ 68.8 | $ 31.5 | $ 64.3 | |||||||
Number of options (in shares) | shares | 1,192,000 | 1,192,000 | ||||||||
Weighted average fair value, options granted (in dollars per share) | £ 22.81 | £ 18.35 | ||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Weighted average share price at the grant date (in pounds per share) | 22.81 | 18.35 | ||||||||
Expected volatility | 28.00% | |||||||||
Expected dividend yield | 2.85% | |||||||||
Expected option life | yr | 1.96 | |||||||||
Annual risk-free interest rate | 0.43% | |||||||||
Bottom of Range [Member] | ||||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Expected volatility | 28.00% | |||||||||
Expected dividend yield | 3.26% | |||||||||
Expected option life | yr | 1.75 | |||||||||
Annual risk-free interest rate | 0.43% | |||||||||
Top of Range [Member] | ||||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Expected volatility | 31.00% | |||||||||
Expected dividend yield | 5.29% | |||||||||
Expected option life | yr | 1.78 | |||||||||
Annual risk-free interest rate | 0.84% | |||||||||
Black-Scholes valuation model [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average fair value, options granted (in dollars per share) | 14.54 | 15.25 | ||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Weighted average share price at the grant date (in pounds per share) | 14.54 | 15.25 | ||||||||
Incentive Plan 2005 [Member] | ||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
Cumulative earning per share growth vesting period | 3 years | 3 years | ||||||||
Percentage of retail prices index | 11.00% | 3.00% | ||||||||
Award vesting percentage | 25.00% | 25.00% | ||||||||
Percentage of shares vesting for cumulative earning per share growth | 60.00% | |||||||||
Cumulative earning per share growth of retail prices index percentage | 13.00% | 9.00% | ||||||||
Required percentage of retail prices index per annum for cumulative EPS growth | 15.00% | |||||||||
Weighted average share price (in pounds per share) | 17.07 | 17.81 | ||||||||
Absolute shareholders return period | 3 years | |||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 5,620,000 | 4,662,000 | ||||||||
Exercised (in shares) | shares | (3,410,000) | (1,283,000) | ||||||||
Forfeited (in shares) | shares | (545,000) | (582,000) | ||||||||
Granted (in shares) | shares | 7,562,000 | 2,823,000 | ||||||||
Outstanding at ending period (in shares) | shares | 9,227,000 | 4,662,000 | 5,620,000 | |||||||
Exercisable at ending period (in shares) | shares | 1,416,000 | 2,270,000 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 0.14 | 0.29 | ||||||||
Exercised (in pounds per share) | 0.17 | 0.12 | ||||||||
Forfeited (in pounds per share) | 0.27 | 0.03 | ||||||||
Granted (in pounds per share) | 0 | 0 | ||||||||
Outstanding at period end (in pounds per share) | 0.06 | 0.14 | ||||||||
Exercisable at ending period (in pounds per share) | £ 0.34 | £ 0.51 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Share based compensation charge | $ | $ 31.1 | $ 30.3 | ||||||||
Defined benefit plan, amount charged to consolidated statement of comprehensive income of national insurance | $ | $ 8.5 | $ 4.1 | ||||||||
Weighted average exercise price (in pounds per share) | 0.06 | 0.14 | £ 0.06 | £ 0.14 | £ 0.29 | |||||
Number of options (in shares) | shares | 9,227,000 | 4,662,000 | 4,662,000 | 9,227,000 | 5,620,000 | 4,662,000 | ||||
Weighted average remaining contractual life (in years) | 3 years 4 months 24 days | 4 years | ||||||||
Weighted average fair value, options granted (in dollars per share) | 16.44 | 16.87 | ||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Weighted average share price at the grant date (in pounds per share) | 16.44 | 16.87 | ||||||||
Expected option life | yr | 3 | |||||||||
Incentive Plan 2005 [Member] | Bottom of Range [Member] | ||||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Expected volatility | 48.91% | 28.59% | ||||||||
Expected dividend yield | 4.78% | 2.82% | ||||||||
Expected option life | yr | 0.76 | |||||||||
Annual risk-free interest rate | 0.49% | 1.00% | ||||||||
Incentive Plan 2005 [Member] | Top of Range [Member] | ||||||||||
Share-based plans, significant model [Abstract] | ||||||||||
Expected volatility | 49.68% | 48.54% | ||||||||
Expected dividend yield | 5.87% | 7.02% | ||||||||
Expected option life | yr | 4 | |||||||||
Annual risk-free interest rate | 1.38% | 1.60% | ||||||||
Incentive Plan 2005 [Member] | 0.10 or less [Member] | ||||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 5,127,000 | |||||||||
Outstanding at ending period (in shares) | shares | 8,982,000 | 5,127,000 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 0.01 | |||||||||
Outstanding at period end (in pounds per share) | 0.01 | 0.01 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average exercise price (in pounds per share) | 0.01 | 0.01 | £ 0.01 | £ 0.01 | ||||||
Number of options (in shares) | shares | 5,127,000 | 5,127,000 | 8,982,000 | 5,127,000 | ||||||
Weighted average remaining contractual life (in years) | 3 years 4 months 24 days | 6 years 8 months 12 days | ||||||||
Incentive Plan 2005 [Member] | 0.10 or less [Member] | Top of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | £ 0.10 | |||||||||
Incentive Plan 2005 [Member] | 0.11 - 1.00 [Member] | ||||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 205,000 | |||||||||
Outstanding at ending period (in shares) | shares | 137,000 | 205,000 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 0.13 | |||||||||
Outstanding at period end (in pounds per share) | 0.13 | 0.13 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average exercise price (in pounds per share) | 0.13 | 0.13 | £ 0.13 | £ 0.13 | ||||||
Number of options (in shares) | shares | 137,000 | 205,000 | 137,000 | 205,000 | ||||||
Weighted average remaining contractual life (in years) | 3 years 8 months 12 days | 4 years 10 months 24 days | ||||||||
Incentive Plan 2005 [Member] | 0.11 - 1.00 [Member] | Bottom of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | £ 0.11 | |||||||||
Incentive Plan 2005 [Member] | 0.11 - 1.00 [Member] | Top of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | 1 | |||||||||
Incentive Plan 2005 [Member] | 1.01 - 2.00 [Member] | ||||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 0 | |||||||||
Outstanding at ending period (in shares) | shares | 0 | 0 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 0 | |||||||||
Outstanding at period end (in pounds per share) | 0 | 0 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average exercise price (in pounds per share) | 0 | 0 | £ 0 | £ 0 | ||||||
Number of options (in shares) | shares | 0 | 0 | 0 | 0 | ||||||
Weighted average remaining contractual life (in years) | 0 years | 0 years | ||||||||
Incentive Plan 2005 [Member] | 1.01 - 2.00 [Member] | Bottom of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | £ 1.01 | |||||||||
Incentive Plan 2005 [Member] | 1.01 - 2.00 [Member] | Top of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | 2 | |||||||||
Incentive Plan 2005 [Member] | 2.01 - 3.00 [Member] | ||||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 0 | |||||||||
Outstanding at ending period (in shares) | shares | 0 | 0 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 0 | |||||||||
Outstanding at period end (in pounds per share) | 0 | 0 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average exercise price (in pounds per share) | 0 | 0 | £ 0 | £ 0 | ||||||
Number of options (in shares) | shares | 0 | 0 | 0 | 0 | ||||||
Weighted average remaining contractual life (in years) | 0 years | 0 years | ||||||||
Incentive Plan 2005 [Member] | 2.01 - 3.00 [Member] | Bottom of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | £ 2.01 | |||||||||
Incentive Plan 2005 [Member] | 2.01 - 3.00 [Member] | Top of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | 3 | |||||||||
Incentive Plan 2005 [Member] | 3.01 - 4.00 [Member] | ||||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 146,000 | |||||||||
Outstanding at ending period (in shares) | shares | 0 | 146,000 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 3.58 | |||||||||
Outstanding at period end (in pounds per share) | 0 | 3.58 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average exercise price (in pounds per share) | 0 | 3.58 | £ 0 | £ 3.58 | ||||||
Number of options (in shares) | shares | 0 | 146,000 | 0 | 146,000 | ||||||
Weighted average remaining contractual life (in years) | 0 years | 8 months 12 days | ||||||||
Incentive Plan 2005 [Member] | 3.01 - 4.00 [Member] | Bottom of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | £ 3.01 | |||||||||
Incentive Plan 2005 [Member] | 3.01 - 4.00 [Member] | Top of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | 4 | |||||||||
Incentive Plan 2005 [Member] | More than 4.00 [Member] | ||||||||||
Number of Options [Abstract] | ||||||||||
Outstanding at beginning period (in shares) | shares | 142,000 | |||||||||
Outstanding at ending period (in shares) | shares | 108,000 | 142,000 | ||||||||
Weighted average exercise prices [Abstract] | ||||||||||
Outstanding at beginning period (in pounds per share) | 4.02 | |||||||||
Outstanding at period end (in pounds per share) | 4.02 | 4.02 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Weighted average exercise price (in pounds per share) | £ 4.02 | £ 4.02 | £ 4.02 | £ 4.02 | ||||||
Number of options (in shares) | shares | 108,000 | 142,000 | 108,000 | 142,000 | ||||||
Weighted average remaining contractual life (in years) | 8 months 12 days | 1 year 8 months 12 days | ||||||||
Incentive Plan 2005 [Member] | More than 4.00 [Member] | Bottom of Range [Member] | ||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | ||||||||||
Range of exercise price (in pounds per share) | £ 4 | |||||||||
Incentive Plan 2005 [Member] | ASR Below 150 Pence [Member] | ||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
Awards subject to ASR, resulting level, percentage | 25.00% | |||||||||
Awards subject to ASR, resulting level (in pounds per share) | £ | £ 1.50 | |||||||||
Incentive Plan 2005 [Member] | ASR 300 Pence or More [Member] | ||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||||
Awards subject to ASR, resulting level, percentage | 50.00% | |||||||||
Awards subject to ASR, resulting level (in pounds per share) | £ | £ 3 |
Employees and directors, Additi
Employees and directors, Additional Share Grants (Details) £ / shares in Units, $ in Millions | 12 Months Ended | 18 Months Ended | |||||||
Oct. 31, 2019USD ($)sharesyr | Oct. 31, 2019GBP (£)sharesyr£ / shares | Apr. 30, 2017USD ($)shares | Oct. 31, 2018USD ($)sharesyr | Oct. 31, 2018£ / shares | Oct. 31, 2019shares£ / shares | Oct. 31, 2018shares£ / shares | Apr. 30, 2017shares£ / shares | ||
Number of Options [Abstract] | |||||||||
Exercised (in shares) | (14,533,973) | (14,533,973) | (8,607,889) | (18,156,060) | |||||
Outstanding at ending period (in shares) | 1,192,000 | 1,192,000 | |||||||
Share-Based Payment Significant Inputs [Abstract] | |||||||||
Weighted average share price at the grant date (in pounds per share) | £ / shares | £ 22.81 | £ 18.35 | |||||||
Expected volatility | 28.00% | 28.00% | |||||||
Expected dividend yield | 2.85% | 2.85% | |||||||
Expected option life | yr | 1.96 | ||||||||
Annual risk-free interest rate | 0.43% | 0.43% | |||||||
Share based payment, range of exercise price [Abstract] | |||||||||
Number of options (in shares) | 1,192,000 | 1,192,000 | 1,192,000 | ||||||
Additional share grants [Abstract] | |||||||||
Number of options vested (in shares) | 460,917,000 | 460,917,000 | |||||||
Share based compensation charge | $ | $ 68.8 | $ 31.5 | $ 64.3 | ||||||
Bottom of Range [Member] | |||||||||
Share-Based Payment Significant Inputs [Abstract] | |||||||||
Expected volatility | 28.00% | ||||||||
Expected dividend yield | 3.26% | ||||||||
Expected option life | yr | 1.75 | 1.75 | |||||||
Annual risk-free interest rate | 0.43% | ||||||||
Top of Range [Member] | |||||||||
Share-Based Payment Significant Inputs [Abstract] | |||||||||
Expected volatility | 31.00% | ||||||||
Expected dividend yield | 5.29% | ||||||||
Expected option life | yr | 1.78 | 1.78 | |||||||
Annual risk-free interest rate | 0.84% | ||||||||
Additional Share Grants [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Outstanding at beginning period (in shares) | 10,489,000 | 10,489,000 | 3,262,000 | ||||||
Granted (in shares) | 458,000 | 458,000 | 13,115,000 | ||||||
Exercised (in shares) | (2,601,000) | (2,601,000) | (200,000) | ||||||
Lapsed (in shares) | (4,670,000) | (4,670,000) | (2,412,000) | ||||||
Cancelled (in shares) | 0 | 0 | (3,276,000) | ||||||
Outstanding at ending period (in shares) | 3,676,000 | 3,676,000 | 3,262,000 | 10,489,000 | |||||
Exercisable at ending period (in shares) | 461,000 | 3,062,000 | |||||||
Weighted Average Exercise Price [Abstract] | |||||||||
Outstanding at beginning period (in pounds per share) | £ / shares | £ 0 | 0 | |||||||
Granted (in pounds per share) | £ / shares | 0 | 0 | |||||||
Exercised (in pounds per share) | £ / shares | 0 | 0 | |||||||
Lapsed (in pounds per share) | £ / shares | 0 | 0 | |||||||
Forfeited (in pounds per share) | £ / shares | 0 | 0 | |||||||
Outstanding at period end (in pounds per share) | £ / shares | 0 | 0 | |||||||
Exercisable at ending period (in pounds per share) | £ / shares | £ 0 | 0 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | 0 | 0 | 3,276,000 | ||||||
Number of shares replacement (in shares) | 458,000 | 458,000 | 13,115,000 | ||||||
Share based payment, range of exercise price [Abstract] | |||||||||
Weighted average exercise price (in pounds per share) | £ / shares | £ 0 | 0 | £ 0 | £ 0 | £ 0 | ||||
Number of options (in shares) | 3,676,000 | 3,676,000 | 3,262,000 | 3,262,000 | 3,676,000 | 10,489,000 | 3,262,000 | ||
Weighted average remaining contractual life (in years) | 7 years 3 months 18 days | 7 years 3 months 18 days | 5 years 6 months | ||||||
Additional share grants [Abstract] | |||||||||
Share based compensation charge | $ | $ 30.6 | $ 45.6 | |||||||
Defined benefit plan, amount charged to consolidated statement of comprehensive income of national insurance | $ | $ 1.7 | $ 2.5 | |||||||
Additional Share Grants [Member] | Monte-Carlo simulation model [Member] | |||||||||
Share-Based Payment Significant Inputs [Abstract] | |||||||||
Weighted average share price at the grant date (in pounds per share) | £ / shares | £ 0.54 | 4.80 | |||||||
Additional Share Grants [Member] | The Attachmate Group, Inc. [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Outstanding at beginning period (in shares) | 3,062,000 | 3,062,000 | 3,262,000 | ||||||
Granted (in shares) | 0 | 0 | 0 | ||||||
Exercised (in shares) | (2,601,000) | (2,601,000) | (200,000) | ||||||
Lapsed (in shares) | 0 | 0 | 0 | ||||||
Cancelled (in shares) | 0 | 0 | 0 | ||||||
Outstanding at ending period (in shares) | 461,000 | 461,000 | 3,262,000 | 3,062,000 | |||||
Exercisable at ending period (in shares) | 461,000 | 3,062,000 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | 0 | 0 | 0 | ||||||
Number of shares replacement (in shares) | 0 | 0 | 0 | ||||||
Share based payment, range of exercise price [Abstract] | |||||||||
Number of options (in shares) | 461,000 | 461,000 | 3,262,000 | 3,262,000 | 461,000 | 3,062,000 | 3,262,000 | ||
Additional share grants [Abstract] | |||||||||
Performance condition one | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | |||||||
Performance condition two | 100% if the Shareholder Return percentage is 100% or more; and | 100% if the Shareholder Return percentage is 100% or more; and | |||||||
Performance condition three | A percentage determined on a straight line basis between (i) and (ii) above. | A percentage determined on a straight line basis between (i) and (ii) above. | |||||||
Performance condition return calculated by deducting (in pounds per share) | £ | £ 8.19425 | ||||||||
Duration of performance condition return calculated by deducting | 20 days | 20 days | |||||||
Additional Share Grants [Member] | HPE Software Business [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Outstanding at beginning period (in shares) | 7,427,000 | 7,427,000 | 0 | ||||||
Granted (in shares) | 458,000 | 458,000 | 13,115,000 | ||||||
Exercised (in shares) | 0 | 0 | 0 | ||||||
Lapsed (in shares) | (4,670,000) | (4,670,000) | (2,412,000) | ||||||
Cancelled (in shares) | 0 | 0 | (3,276,000) | ||||||
Outstanding at ending period (in shares) | 3,215,000 | 3,215,000 | 0 | 7,427,000 | |||||
Exercisable at ending period (in shares) | 0 | 0 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | 0 | 0 | 3,276,000 | ||||||
Number of shares replacement (in shares) | 458,000 | 458,000 | 13,115,000 | ||||||
Share based payment, range of exercise price [Abstract] | |||||||||
Number of options (in shares) | 3,215,000 | 3,215,000 | 0 | 0 | 3,215,000 | 7,427,000 | 0 | ||
Additional share grants [Abstract] | |||||||||
Performance condition one | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | |||||||
Performance condition two | 100% if the Shareholder Return percentage is 100% or more; and | 100% if the Shareholder Return percentage is 100% or more; and | |||||||
Performance condition three | A percentage determined on a straight line basis between (i) and (ii) above. | A percentage determined on a straight line basis between (i) and (ii) above. | |||||||
Performance condition return calculated by deducting (in pounds per share) | £ | £ 18.1775 | ||||||||
Duration of performance condition return calculated by deducting | 20 days | 20 days | |||||||
Duration of ordinary shares will remain exercisable | 84 months | 84 months | |||||||
Number of options lapsed, condition one (in shares) | 1,234,454 | 1,234,454 | |||||||
Number of options lapsed, condition two (in shares) | 3,435,000 | 3,435,000 | |||||||
Additional Share Grants [Member] | Range One [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Outstanding at beginning period (in shares) | 10,489,000 | 10,489,000 | |||||||
Outstanding at ending period (in shares) | 3,676,000 | 3,676,000 | 10,489,000 | ||||||
Weighted Average Exercise Price [Abstract] | |||||||||
Outstanding at beginning period (in pounds per share) | £ / shares | £ 0 | ||||||||
Outstanding at period end (in pounds per share) | £ / shares | 0 | 0 | |||||||
Share based payment, range of exercise price [Abstract] | |||||||||
Range of exercise price (in dollars per share) | £ / shares | £ 0 | ||||||||
Weighted average exercise price (in pounds per share) | £ / shares | £ 0 | £ 0 | £ 0 | £ 0 | |||||
Number of options (in shares) | 10,489,000 | 10,489,000 | 10,489,000 | 3,676,000 | 10,489,000 | ||||
Weighted average remaining contractual life (in years) | 7 years 3 months 18 days | 7 years 3 months 18 days | 5 years 6 months | ||||||
Additional Share Grants [Member] | Brian McArthur-Muscroft [Member] | HPE Software Business [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | 338,000 | 338,000 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | 338,000 | 338,000 | |||||||
Additional Share Grants [Member] | Kevin Loosemore [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Cancelled (in shares) | (1,100,000) | ||||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | 1,100,000 | ||||||||
Additional Share Grants [Member] | Stephen Murdoch [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Cancelled (in shares) | (500,000) | ||||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | 500,000 | ||||||||
Additional share grants [Abstract] | |||||||||
Increase in number of share options granted in share-based payment arrangement | 447,000 | 447,000 | |||||||
Additional Share Grants [Member] | Chris Kennedy [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Cancelled (in shares) | [1] | (500,000) | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | [1] | 500,000 | |||||||
Additional share grants [Abstract] | |||||||||
Increase in number of share options granted in share-based payment arrangement | 176,000 | 176,000 | |||||||
Additional Share Grants [Member] | Mike Phillips [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Cancelled (in shares) | [1] | (676,000) | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | [1] | 676,000 | |||||||
Additional Share Grants [Member] | Nils Brauckmann [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Cancelled (in shares) | [1] | (500,000) | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares granted and cancelled (in shares) | [1] | 500,000 | |||||||
New Additional Share Grants [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | 3,899,000 | ||||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | 3,899,000 | ||||||||
New Additional Share Grants [Member] | Kevin Loosemore [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | 1,100,000 | ||||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | 1,100,000 | ||||||||
New Additional Share Grants [Member] | Stephen Murdoch [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | 947,000 | ||||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | 947,000 | ||||||||
New Additional Share Grants [Member] | Chris Kennedy [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | [1] | 676,000 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | [1] | 676,000 | |||||||
New Additional Share Grants [Member] | Mike Phillips [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | [1] | 676,000 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | [1] | 676,000 | |||||||
New Additional Share Grants [Member] | Nils Brauckmann [Member] | |||||||||
Number of Options [Abstract] | |||||||||
Granted (in shares) | [1] | 500,000 | |||||||
Number of Granted and Cancelled shares [Abstract] | |||||||||
Number of shares replacement (in shares) | [1] | 500,000 | |||||||
[1] | These ASG options awarded to Chris Kennedy (all), Nils Brauckmann (all) and Mike Phillips (partial) lapsed as a result of their resignations and subsequent leaving employment. |
Employees and directors, Shares
Employees and directors, Sharesave and Employee Stock Purchase Plan 2006 (Details) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2019USD ($)sharesyrPlan | Oct. 31, 2019shares£ / shares | Apr. 30, 2017USD ($)shares | Oct. 31, 2018USD ($)sharesyr | Oct. 31, 2018shares£ / shares | |
Share-Based Plans Outstanding [Abstract] | |||||
Exercised (in shares) | shares | (14,533,973) | (8,607,889) | (18,156,060) | ||
Outstanding at ending period (in shares) | shares | 1,192,000 | ||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Weighted average share price at the grant date (in pounds per share) | £ 22.81 | £ 18.35 | |||
Expected volatility | 28.00% | ||||
Expected dividend yield | 2.85% | ||||
Expected option life | yr | 1.96 | ||||
Annual risk-free interest rate | 0.43% | ||||
Number of employee benefit plans | Plan | 2 | ||||
Share based compensation charge | $ | $ 68.8 | $ 31.5 | $ 64.3 | ||
Bottom of Range [Member] | |||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Expected volatility | 28.00% | ||||
Expected dividend yield | 3.26% | ||||
Expected option life | yr | 1.75 | ||||
Annual risk-free interest rate | 0.43% | ||||
Top of Range [Member] | |||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Expected volatility | 31.00% | ||||
Expected dividend yield | 5.29% | ||||
Expected option life | yr | 1.78 | ||||
Annual risk-free interest rate | 0.84% | ||||
March 1, 2020 - May 31, 2020 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 309,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 1, 2018 | ||||
Exercise price per share (in pounds per share) | 12.356 | ||||
July 1, 2020 - September 30, 2020 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 430,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | July 1, 2018 | ||||
Exercise price per share (in pounds per share) | 8.685 | ||||
March 1, 2021 - May 31, 2021 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 244,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 1, 2019 | ||||
Exercise price per share (in pounds per share) | 14.28 | ||||
October 1, 2021 - December 31, 2021 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 209,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | October 1, 2019 | ||||
Exercise price per share (in pounds per share) | £ 14.628 | ||||
Sharesave Plan 2006 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at beginning period (in shares) | shares | 496,000 | 559,000 | |||
Exercised (in shares) | shares | (81,000) | (294,000) | |||
Forfeited (in shares) | shares | (102,000) | (223,000) | |||
Granted (in shares) | shares | 125,000 | 454,000 | |||
Outstanding at ending period (in shares) | shares | 438,000 | 559,000 | 496,000 | ||
Exercisable at ending period (in shares) | shares | 62,000 | 47,000 | 47,000 | ||
Weighted Average Exercise Price [Abstract] | |||||
Outstanding at beginning period (in pounds per share) | £ 11.85 | £ 10.39 | |||
Exercised (in pounds per share) | 11.71 | 8.29 | |||
Forfeited (in pounds per share) | 12.97 | 15.08 | |||
Granted (in pounds per share) | 13.74 | 12.93 | |||
Outstanding at period end (in pounds per share) | 12.21 | 11.85 | |||
Exercisable at ending period (in pounds per share) | 14.61 | £ 11.16 | |||
Share-Based Payment Significant Inputs [Abstract] | |||||
Employee plans saving period | 3 years | ||||
Percentage of grants of option with option price at discount | 20.00% | ||||
Sharesave Plan 2006 [Member] | October 1, 2019 - February 1, 2020 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 61,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 12, 2016 | ||||
Exercise price per share (in pounds per share) | 14.656 | ||||
Sharesave Plan 2006 [Member] | April 1, 2021 - September 30, 2021 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 21,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | February 23, 2018 | ||||
Exercise price per share (in pounds per share) | 17.200 | ||||
Sharesave Plan 2006 [Member] | April 1, 2021 - September 30, 2021 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 2,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | February 23, 2018 | ||||
Exercise price per share (in pounds per share) | 19.630 | ||||
Sharesave Plan 2006 [Member] | October 1, 2021 - March 31, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 221,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 3, 2018 | ||||
Exercise price per share (in pounds per share) | 10.230 | ||||
Sharesave Plan 2006 [Member] | October 1, 2021 - March 31, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 19,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 3, 2018 | ||||
Exercise price per share (in pounds per share) | 11.590 | ||||
Sharesave Plan 2006 [Member] | April 1, 2022 - September 30, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 67,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 7, 2019 | ||||
Exercise price per share (in pounds per share) | 13.440 | ||||
Sharesave Plan 2006 [Member] | April 1, 2022 - September 30, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 4,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 7, 2019 | ||||
Exercise price per share (in pounds per share) | 15.330 | ||||
Sharesave Plan 2006 [Member] | October 1, 2021 - August 4, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 40,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 5, 2019 | ||||
Exercise price per share (in pounds per share) | 14.110 | ||||
Sharesave Plan 2006 [Member] | October 1, 2021 - August 4, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 3,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 5, 2019 | ||||
Exercise price per share (in pounds per share) | £ 15.743 | ||||
Employee Stock Purchase Plan 2006 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at beginning period (in shares) | shares | 800,000 | 124,000 | |||
Exercised (in shares) | shares | (17,000) | (110,000) | |||
Forfeited (in shares) | shares | (44,000) | (31,000) | |||
Granted (in shares) | shares | 453,000 | 817,000 | |||
Outstanding at ending period (in shares) | shares | 1,192,000 | 124,000 | 800,000 | ||
Exercisable at ending period (in shares) | shares | 0 | 0 | 0 | ||
Weighted Average Exercise Price [Abstract] | |||||
Outstanding at beginning period (in pounds per share) | £ 10.47 | £ 15.10 | |||
Exercised (in pounds per share) | 11.14 | 15.98 | |||
Forfeited (in pounds per share) | 14.40 | 12.36 | |||
Granted (in pounds per share) | 14.44 | 10.57 | |||
Outstanding at period end (in pounds per share) | 11.82 | 10.47 | |||
Exercisable at ending period (in pounds per share) | 0 | 0 | |||
Share-Based Payment Significant Inputs [Abstract] | |||||
Weighted average share price at the grant date (in pounds per share) | 17.56 | 15.48 | |||
Employee plans saving period | 2 years | ||||
Percentage of grants of option with option price at discount | 15.00% | ||||
Employee Stock Purchase Plan 2006 [Member] | Bottom of Range [Member] | |||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Expected volatility | 49.06% | 28.82% | |||
Expected dividend yield | 4.63% | 3.86% | |||
Expected option life | yr | 2 | 2 | |||
Annual risk-free interest rate | 0.49% | 1.30% | |||
Employee Stock Purchase Plan 2006 [Member] | Top of Range [Member] | |||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Expected volatility | 49.68% | 48.60% | |||
Expected dividend yield | 5.87% | 7.02% | |||
Expected option life | yr | 3 | 3 | |||
Annual risk-free interest rate | 1.16% | 1.50% | |||
Sharesave Plan and Employee Stock Purchase Plan 2006 [Member] | |||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Weighted average share price at the grant date (in pounds per share) | £ 5.93 | £ 6.28 | |||
Share based compensation charge | $ | $ 2.8 | $ 2.9 |
Operating lease commitments -_3
Operating lease commitments - minimum lease payments (Details) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2019USD ($)ft²CountryPropertyOptionterm | Oct. 31, 2019USD ($)ft²CountryProperty | Oct. 31, 2018USD ($) | |
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Total | $ 301.2 | $ 301.2 | $ 228 |
Area of leased property | ft² | 2,400,000 | 2,400,000 | |
Number of countries in which leased properties exist | Country | 40 | 40 | |
Number of material leased properties | Property | 2 | 2 | |
Minimum operating lease payments recognized as an expense | $ 65.9 | $ 94.1 | |
Future minimum sublease payments expected to be received under non-cancellable subleases | $ 3.9 | $ 3.9 | 4.7 |
Provo, Utah Property [Member] | |||
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Area of office space leased | ft² | 405,700 | 405,700 | |
Number of options to extend lease period | Optionterm | 3 | ||
Lease extension period | 5 years | ||
Annual rent | $ 8.2 | ||
Annual sub-lease income | $ 1 | ||
Santa Clara, California Property [Member] | |||
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Area of office space leased | ft² | 635,000 | 635,000 | |
Number of options to extend lease period | Optionterm | 1 | ||
Lease extension period | 5 years | ||
Annual rent | $ 4.6 | ||
No Later Than One Year [Member] | |||
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Total | 78.6 | $ 78.6 | 65.8 |
Later Than One Year and No Later Than Three Years [Member] | |||
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Total | 123.6 | 123.6 | 86.4 |
Later Than Three Years and No Later Than Five Years [Member] | |||
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Total | 61.4 | 61.4 | 53.3 |
Later Than Five Years [Member] | |||
Future minimum lease payments under non-cancellable operating leases falling due [Abstract] | |||
Total | $ 37.6 | $ 37.6 | $ 22.5 |
Contingent liabilities (Details
Contingent liabilities (Details) $ in Millions | 12 Months Ended |
Oct. 31, 2019USD ($)LawsuitPatent | |
Shareholder Litigation [Member] | |
Contingent liabilities [Abstract] | |
Number of class action lawsuits | Lawsuit | 2 |
Liability recognized | $ 0 |
Patent Litigation [Member] | |
Contingent liabilities [Abstract] | |
Number of patents alleged under infringement lawsuit | Patent | 3 |
Liability recognized | $ 0 |
Discontinued operation, asset_3
Discontinued operation, assets classified as held for sale and disposals, Net Assets Classified as Held for Sale (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 |
Net Assets classified as held for sale [Abstract] | ||
Current assets | $ 14,294.8 | $ 16,780.6 |
Current liabilities | (8,018.5) | (8,988.6) |
Net Assets classified as held for sale | 6,276.3 | 7,792 |
Discontinued Operations [Member] | ||
Net Assets classified as held for sale [Abstract] | ||
Current assets | 0 | 1,142.5 |
Current liabilities | 0 | (437.7) |
Net Assets classified as held for sale | 0 | 704.8 |
SUSE [Member] | ||
Net Assets classified as held for sale [Abstract] | ||
Current assets | 0 | 1,114.5 |
Current liabilities | 0 | (427.4) |
Net Assets classified as held for sale | 0 | 687.1 |
Atalla [Member] | ||
Net Assets classified as held for sale [Abstract] | ||
Current assets | 0 | 28 |
Current liabilities | 0 | (10.3) |
Net Assets classified as held for sale | $ 0 | $ 17.7 |
Discontinued operation, asset_4
Discontinued operation, assets classified as held for sale and disposals, Discontinued Operation - SUSE Business Segment (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Aug. 21, 2018 |
SUSE [Member] | ||
Discontinued operation [Abstract] | ||
Cash consideration | $ 2,540.3 | $ 2,500 |
Discontinued operation, asset_5
Discontinued operation, assets classified as held for sale and disposals, Discontinued Operation - Financial Performance (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | $ 3,348.4 | [1] | $ 1,077.3 | $ 4,754.4 | ||
Operating profit | 221.7 | 227.4 | 376.8 | |||
Profit on disposal of the SUSE business | 3.7 | 0 | [2] | 0 | ||
Profit/(loss) before tax | (34.1) | [1] | 131.6 | 34.1 | ||
Profit for the period from discontinued operation | 1,487.2 | [1] | 33.7 | [2] | 76.9 | |
Before Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 3,348.4 | 1,077.3 | 4,754.4 | |||
Operating profit | 515.9 | 324.6 | 915 | |||
Profit/(loss) before tax | 260.1 | 228.8 | 578.1 | |||
Profit for the period from discontinued operation | 28.7 | 33.7 | 76.9 | |||
Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 0 | 0 | 0 | |||
Operating profit | (294.2) | (97.2) | (538.2) | |||
Profit on disposal of the SUSE business | 3.7 | 0 | 0 | |||
Profit/(loss) before tax | (294.2) | (97.2) | (544) | |||
Profit for the period from discontinued operation | 1,458.5 | 0 | 0 | |||
SUSE [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 127 | 303.4 | 538.2 | |||
Operating costs | (89.3) | (238.6) | (425.3) | |||
Operating profit | 37.7 | 64.8 | 112.9 | |||
Share of results of associate | (0.3) | 0 | (1.8) | |||
Profit on disposal of the SUSE business | 1,767.9 | 0 | 0 | |||
Profit/(loss) before tax | 1,805.3 | 64.8 | 111.1 | |||
Taxation | (318.1) | (31.1) | (34.2) | |||
Profit for the period from discontinued operation | $ (1,767.9) | 1,487.2 | 33.7 | 76.9 | ||
Discontinued operation - Cash flow [Abstract] | ||||||
Net cash inflows from operating activities | 18.6 | 70.4 | 136.1 | |||
Net cash outflows from investing activities | 0 | (7.4) | (2.5) | |||
Net cash flows from financing activities | 0 | $ 0 | $ 0 | |||
SUSE [Member] | Before Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 127 | |||||
Operating costs | (89.3) | |||||
Operating profit | 37.7 | |||||
Share of results of associate | (0.3) | |||||
Profit on disposal of the SUSE business | 0 | |||||
Profit/(loss) before tax | 37.4 | |||||
Taxation | (8.7) | |||||
Profit for the period from discontinued operation | 28.7 | |||||
SUSE [Member] | Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 0 | |||||
Operating costs | 0 | |||||
Operating profit | 0 | |||||
Share of results of associate | 0 | |||||
Profit on disposal of the SUSE business | 1,767.9 | |||||
Profit/(loss) before tax | 1,767.9 | |||||
Taxation | (309.4) | |||||
Profit for the period from discontinued operation | $ 1,458.5 | |||||
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. | |||||
[2] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Discontinued operation, asset_6
Discontinued operation, assets classified as held for sale and disposals, Assets and Liabilities Relating to SUSE (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Mar. 15, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Non-current assets [Abstract] | |||||
Goodwill | $ 6,671.3 | $ 6,805 | $ 2,828.6 | ||
Other Intangible assets | 5,942.3 | 6,629.3 | 1,089.3 | ||
Property, plant and equipment | 140.5 | 144.3 | 40.9 | ||
Deferred tax assets | 0 | 0 | |||
Long-term pension assets | 17.1 | 16.7 | |||
Other non-current assets | 44 | 38.8 | |||
Total non-current assets | 12,846.7 | 13,720.5 | |||
Current assets [Abstract] | |||||
Trade and other receivables | 1,032.9 | 1,272 | |||
Cash and cash equivalents | 355.7 | 620.9 | $ 151 | $ 667.2 | |
Total current assets | 1,448.1 | 3,060.1 | |||
Total assets | 14,294.8 | 16,780.6 | |||
Current liabilities [Abstract] | |||||
Trade and other payables | (611) | (676.9) | |||
Provisions | (29.3) | (57.4) | |||
Current tax liabilities | (104) | (124.1) | |||
Total current liabilities | (1,802) | (2,448.1) | |||
Non-current liabilities [Abstract] | |||||
Retirement benefit obligations | (141.4) | (110.4) | |||
Long-term provisions | (49.1) | (35.4) | |||
Other non-current liabilities | (50.4) | (58) | |||
Total non-current liabilities | (6,216.5) | (6,540.5) | |||
Total liabilities | (8,018.5) | (8,988.6) | |||
Net assets classified as held for sale | 0 | 1,142.5 | |||
Discontinued Operations [Member] | |||||
Current assets [Abstract] | |||||
Total assets | 0 | 1,142.5 | |||
Non-current liabilities [Abstract] | |||||
Total liabilities | 0 | (437.7) | |||
SUSE [Member] | |||||
Non-current assets [Abstract] | |||||
Goodwill | 0 | 859.6 | |||
Other Intangible assets | 0 | 165.6 | |||
Property, plant and equipment | 0 | 5.7 | |||
Investment in associates | 0 | 9.6 | |||
Deferred tax assets | 0 | 1.6 | |||
Long-term pension assets | 0 | 1.5 | |||
Other non-current assets | 0 | 2.2 | |||
Total non-current assets | 0 | 1,045.8 | |||
Current assets [Abstract] | |||||
Trade and other receivables | 0 | 65.8 | |||
Cash and cash equivalents | 0 | 2.9 | |||
Total current assets | 0 | 68.7 | |||
Total assets | 0 | 1,114.5 | |||
Current liabilities [Abstract] | |||||
Trade and other payables | 0 | (38) | |||
Provisions | 0 | (0.7) | |||
Current tax liabilities | 0 | (1.2) | |||
Deferred income | 0 | (218.3) | |||
Total current liabilities | 0 | (258.2) | |||
Non-current liabilities [Abstract] | |||||
Deferred income | 0 | (160.8) | |||
Retirement benefit obligations | 0 | (5.5) | |||
Long-term provisions | 0 | (2.3) | |||
Other non-current liabilities | 0 | (0.6) | |||
Total non-current liabilities | 0 | (169.2) | |||
Total liabilities | 0 | (427.4) | |||
Net assets classified as held for sale | $ 0 | $ 127.3 | $ 687.1 |
Discontinued operation, asset_7
Discontinued operation, assets classified as held for sale and disposals, Disposal of SUSE Business - Net Assets and Profit (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Aug. 21, 2018 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | ||
Net assets disposed [Abstract] | |||||||
Current assets classified as held for sale | $ 0 | $ 1,142.5 | |||||
Current liabilities classified as held for sale | 0 | (437.7) | |||||
Profit on disposal of business [Abstract] | |||||||
Profit for the period from discontinued operation | (1,487.2) | [1] | $ (33.7) | [2] | (76.9) | ||
SUSE [Member] | |||||||
Net Assets disposed and Profit disposal on business [Abstract] | |||||||
Consideration received | $ 2,540.3 | $ 2,500 | |||||
Net assets disposed [Abstract] | |||||||
Non-current assets classified as held for sale | 989.8 | ||||||
Current assets classified as held for sale | 127.3 | 0 | 687.1 | ||||
Current liabilities classified as held for sale | (288.5) | ||||||
Non-current liabilities classified as held for sale | (177.3) | ||||||
Net assets disposed | 651.3 | ||||||
Profit on disposal of business [Abstract] | |||||||
Disposal proceeds | 2,540.3 | ||||||
Costs to sell recognized in the period | (45.3) | ||||||
Disposal proceeds, less costs to sell recognized in the period | 2,495 | ||||||
Net assets disposed | (651.3) | ||||||
Profit on disposal | 1,843.7 | ||||||
Cumulative exchange gain in respect of the net assets of the subsidiaries, reclassified from equity on disposal | (75.8) | ||||||
Profit for the period from discontinued operation | $ 1,767.9 | $ (1,487.2) | $ (33.7) | $ (76.9) | |||
[1] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. | ||||||
[2] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Discontinued operation, asset_8
Discontinued operation, assets classified as held for sale and disposals, Disposal of SUSE Business - Inflow of Cash and Cash Equivalents (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 |
Inflow of cash and cash equivalents on disposal of business [Abstract] | ||||
Investing cash flows generated from discontinued operation, net of cash disposed | $ 2,473.5 | $ 0 | $ 0 | |
SUSE [Member] | ||||
Inflow of cash and cash equivalents on disposal of business [Abstract] | ||||
Disposal proceeds, less costs to sell recognized in the period | $ 2,495 | |||
Cash disposed | (21.5) | |||
Investing cash flows generated from discontinued operation, net of cash disposed | $ 2,473.5 |
Discontinued operation, asset_9
Discontinued operation, assets classified as held for sale and disposals, Assets and Liabilities Relating to Atalla (Details) - USD ($) $ in Millions | May 18, 2018 | Oct. 31, 2019 | Nov. 04, 2018 | Oct. 31, 2018 | Apr. 30, 2017 |
Non-current assets [Abstract] | |||||
Goodwill | $ 6,671.3 | $ 6,805 | $ 2,828.6 | ||
Property, plant and equipment | 140.5 | 144.3 | $ 40.9 | ||
Total non-current assets | 12,846.7 | 13,720.5 | |||
Current liabilities [Abstract] | |||||
Total current liabilities | (1,802) | (2,448.1) | |||
Atalla [Member] | |||||
Non-current assets [Abstract] | |||||
Goodwill | 0 | $ 28 | 27.9 | ||
Property, plant and equipment | 0 | 0.3 | 0.1 | ||
Total non-current assets | 0 | 28.3 | 28 | ||
Current liabilities [Abstract] | |||||
Deferred income | 0 | (12) | (10.3) | ||
Total current liabilities | 0 | $ (12) | (10.3) | ||
Net assets classified as held for sale | $ 0 | $ 17.7 | |||
Atalla [Member] | |||||
Disclosure of analysis of single amount of discontinued operations [line items] | |||||
Cash consideration | $ 20 |
Discontinued operation, asse_10
Discontinued operation, assets classified as held for sale and disposals, Net Assets and Profit Relating to Atalla (Details) - USD ($) $ in Millions | Nov. 05, 2018 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | Nov. 04, 2018 | |
Non-current assets [Abstract] | ||||||
Goodwill | $ 6,671.3 | $ 2,828.6 | $ 6,805 | |||
Property, plant and equipment | 140.5 | 40.9 | 144.3 | |||
Total non-current assets | 12,846.7 | 13,720.5 | ||||
Total current liabilities | (1,802) | (2,448.1) | ||||
Profit on disposal of business [Abstract] | ||||||
Disposal proceeds | 20 | 0 | 0 | |||
Profit on disposal | (3.7) | $ 0 | [1] | 0 | ||
Atalla [Member] | ||||||
Non-current assets [Abstract] | ||||||
Goodwill | 0 | 27.9 | $ 28 | |||
Property, plant and equipment | 0 | 0.1 | 0.3 | |||
Total non-current assets | 0 | 28 | 28.3 | |||
Deferred income | 0 | (10.3) | (12) | |||
Total current liabilities | $ 0 | $ (10.3) | (12) | |||
Net assets disposed | $ 16.3 | |||||
Profit on disposal of business [Abstract] | ||||||
Disposal proceeds | $ 20 | |||||
Net assets disposed | (16.3) | |||||
Profit on disposal | $ 3.7 | |||||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Acquisitions, Summary of Acquis
Acquisitions, Summary of Acquisitions (Details) € in Millions, $ in Millions | Oct. 31, 2019USD ($) | Feb. 15, 2019USD ($) | Oct. 31, 2018USD ($) | Dec. 01, 2017USD ($) | Dec. 01, 2017EUR (€) | Sep. 01, 2017USD ($) |
Summary of acquisitions [Abstract] | ||||||
Goodwill | $ 26.8 | $ 4,863.9 | ||||
Shares consideration | 0 | 6,514.2 | ||||
Cash consideration | 89 | 16.7 | ||||
Total consideration | 89 | 6,530.9 | ||||
Carrying Value at Acquisition [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | 0.9 | (2,490.8) | ||||
Fair Value Adjustments [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | 61.3 | 4,157.7 | ||||
Interset Software Inc. [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | $ 62.2 | |||||
Goodwill | 26.8 | 26.8 | ||||
Shares consideration | 0 | |||||
Cash consideration | 89 | 89 | ||||
Total consideration | 89 | 89 | ||||
Interset Software Inc. [Member] | Carrying Value at Acquisition [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | 0.9 | 0.9 | ||||
Interset Software Inc. [Member] | Fair Value Adjustments [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | 61.3 | $ 61.3 | ||||
HPE Software Business [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | $ 1,655.9 | |||||
Goodwill | 4,858.3 | 4,858.3 | ||||
Shares consideration | 6,514.2 | 6,514.2 | ||||
Cash consideration | 0 | |||||
Total consideration | 6,514.2 | 6,514.2 | ||||
HPE Software Business [Member] | Carrying Value at Acquisition [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | (2,487.8) | (2,487.8) | ||||
Goodwill | 0 | |||||
HPE Software Business [Member] | Fair Value Adjustments [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | 4,143.7 | $ 4,143.7 | ||||
COBOL-IT [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Goodwill | 5.6 | $ 5.6 | ||||
Shares consideration | 0 | |||||
Cash consideration | 16.7 | |||||
Total consideration | 16.7 | $ 16.7 | € 11.3 | |||
COBOL-IT [Member] | Carrying Value at Acquisition [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | (3) | |||||
COBOL-IT [Member] | Fair Value Adjustments [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | $ 14 | |||||
Total Acquisitions [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Goodwill | 4,890.7 | |||||
Shares consideration | 6,514.2 | |||||
Cash consideration | 105.7 | |||||
Total consideration | 6,619.9 | |||||
Total Acquisitions [Member] | Carrying Value at Acquisition [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | (2,489.8) | |||||
Total Acquisitions [Member] | Fair Value Adjustments [Member] | ||||||
Summary of acquisitions [Abstract] | ||||||
Net (liabilities)/assets | $ 4,219 |
Acquisitions, Acquisition of In
Acquisitions, Acquisition of Interset Software Inc (Details) - USD ($) $ in Millions | Feb. 15, 2019 | Oct. 31, 2019 | Oct. 31, 2018 | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Goodwill | $ 26.8 | $ 4,863.9 | ||
Consideration | 89 | 6,530.9 | ||
Consideration satisfied by [Abstract] | ||||
Cash | 89 | 16.7 | ||
Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | 0.9 | (2,490.8) | ||
Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | 61.3 | $ 4,157.7 | ||
Interset Software Inc. [Member] | ||||
Acquisition [Abstract] | ||||
Consideration payment on completion | $ 85 | |||
Carrying value of assets | 5.5 | |||
Carrying value of liability | 4.6 | |||
Goodwill reduced due to provisional fair value adjustment | (7.4) | |||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 61.2 | |||
Property, plant and equipment | 0.3 | |||
Other non-current assets | 0.2 | |||
Trade and other receivables | 3.8 | |||
Cash and cash equivalents | 1.2 | |||
Trade and other payables | (1.5) | |||
Finance leases obligations - short term | (0.1) | |||
Provisions - short-term | (0.7) | |||
Deferred income - short-term | (2) | |||
Deferred income - long-term | (0.2) | |||
Net (liabilities)/assets | 62.2 | |||
Goodwill | 26.8 | 26.8 | ||
Consideration | 89 | 89 | ||
Consideration satisfied by [Abstract] | ||||
Cash | 89 | 89 | ||
Interset Software Inc. [Member] | Technology [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 44.5 | |||
Interset Software Inc. [Member] | Trade Names [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 4.2 | |||
Interset Software Inc. [Member] | Customer Relationships [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 12.5 | |||
Interset Software Inc. [Member] | Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 0 | |||
Property, plant and equipment | 0.3 | |||
Other non-current assets | 0.2 | |||
Trade and other receivables | 3.8 | |||
Cash and cash equivalents | 1.2 | |||
Trade and other payables | (1.5) | |||
Finance leases obligations - short term | (0.1) | |||
Provisions - short-term | (0.7) | |||
Deferred income - short-term | (2.1) | |||
Deferred income - long-term | (0.2) | |||
Net (liabilities)/assets | 0.9 | 0.9 | ||
Interset Software Inc. [Member] | Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | [1] | 61.2 | ||
Property, plant and equipment | 0 | |||
Other non-current assets | 0 | |||
Trade and other receivables | 0 | |||
Cash and cash equivalents | 0 | |||
Trade and other payables | 0 | |||
Finance leases obligations - short term | 0 | |||
Provisions - short-term | 0 | |||
Deferred income - short-term | [2] | 0.1 | ||
Deferred income - long-term | [2] | 0 | ||
Net (liabilities)/assets | $ 61.3 | $ 61.3 | ||
[1] | 1 Purchased intangible assets of $61.2m ($44.5m Technology, $4.2m Trade names, $12.5m Customer Relationships) have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Interset. | |||
[2] | Deferred income has been valued taking account of the remaining performance obligations. |
Acquisitions, Acquisition of HP
Acquisitions, Acquisition of HPE Software Business (Details) - USD ($) $ in Millions | Sep. 01, 2017 | Oct. 31, 2019 | Oct. 31, 2018 | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Goodwill | $ 26.8 | $ 4,863.9 | ||
Consideration | 89 | 6,530.9 | ||
Consideration satisfied by [Abstract] | ||||
Shares | 0 | 6,514.2 | ||
Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | 0.9 | (2,490.8) | ||
Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | $ 61.3 | 4,157.7 | ||
HPE Software Business [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | $ 6,539.8 | |||
Property, plant and equipment | 160.1 | |||
Other non-current assets | 41.9 | |||
Inventories | 0.2 | |||
Trade and other receivables | 721.2 | |||
Current tax recoverable | 0.5 | |||
Cash and cash equivalents | 320.7 | |||
Trade and other payables | (685.2) | |||
Current tax liabilities | (9.9) | |||
Borrowings | (2,547.6) | |||
Short-term provisions | (30.2) | |||
Short-term deferred income | (643.2) | |||
Long-term deferred income | (108.2) | |||
Long-term provisions | (39) | |||
Retirement benefit obligations | (71.5) | |||
Other non-current liabilities | (40.2) | |||
Deferred tax liabilities | (1,953.5) | |||
Net (liabilities)/assets | 1,655.9 | |||
Goodwill | 4,858.3 | 4,858.3 | ||
Consideration | 6,514.2 | 6,514.2 | ||
Consideration satisfied by [Abstract] | ||||
Shares | $ 6,514.2 | 6,514.2 | ||
Number of shares issued (in shares) | 222,166,897 | |||
Percentage of shares issued as part of acquisition on fully diluted share capital | 50.10% | |||
Acquisition costs | $ 70.1 | |||
Repayment of working capital | 225.8 | |||
Net provision for impairment of trade receivables | 21.5 | |||
HPE Software Business [Member] | Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 72.8 | |||
Property, plant and equipment | 160.1 | |||
Other non-current assets | 41.9 | |||
Inventories | 0.2 | |||
Trade and other receivables | 721.2 | |||
Current tax recoverable | 0.5 | |||
Cash and cash equivalents | 320.7 | |||
Trade and other payables | (686.8) | |||
Current tax liabilities | (9.9) | |||
Borrowings | (2,547.6) | |||
Short-term provisions | (30.2) | |||
Short-term deferred income | (701.2) | |||
Long-term deferred income | (116.9) | |||
Long-term provisions | (39) | |||
Retirement benefit obligations | (71.5) | |||
Other non-current liabilities | (52.3) | |||
Deferred tax assets | 450.2 | |||
Net (liabilities)/assets | (2,487.8) | (2,487.8) | ||
Goodwill | 0 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 6,467 | |||
Property, plant and equipment | 0 | |||
Other non-current assets | 0 | |||
Inventories | 0 | |||
Trade and other receivables | 0 | |||
Current tax recoverable | 0 | |||
Cash and cash equivalents | 0 | |||
Trade and other payables | 1.6 | |||
Current tax liabilities | 0 | |||
Borrowings | 0 | |||
Short-term provisions | 0 | |||
Short-term deferred income | [1] | 58 | ||
Long-term deferred income | [1] | 8.7 | ||
Long-term provisions | 0 | |||
Retirement benefit obligations | 0 | |||
Other non-current liabilities | 12.1 | |||
Deferred tax liabilities | [2] | (2,403.7) | ||
Net (liabilities)/assets | 4,143.7 | $ 4,143.7 | ||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Technology [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 1,809 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 4,480 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Trade Names [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 163 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Leases [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | $ 15 | |||
[1] | Deferred income has been valued taking account of the remaining performance obligations; and | |||
[2] | A deferred tax liability has been established relating to the purchase of intangibles. |
Acquisitions, Acquisition of CO
Acquisitions, Acquisition of COBOL-IT, SAS (Details) € in Millions, $ in Millions | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | Dec. 01, 2017USD ($) | Dec. 01, 2017EUR (€) |
Acquisition [Abstract] | ||||
Consideration | $ 89 | $ 6,530.9 | ||
Goodwill | $ 26.8 | 4,863.9 | ||
COBOL-IT [Member] | ||||
Acquisition [Abstract] | ||||
Consideration | 16.7 | $ 16.7 | € 11.3 | |
Retention amount, payable | € | € 2.7 | |||
Goodwill | $ 5.6 | 5.6 | ||
Deferred tax liabilities | 3.9 | |||
Intangible assets | 14 | |||
Cash | 1 | |||
COBOL-IT [Member] | Purchased Technology [Member] | ||||
Acquisition [Abstract] | ||||
Intangible assets | 1.5 | |||
COBOL-IT [Member] | Customer Relationships [Member] | ||||
Acquisition [Abstract] | ||||
Intangible assets | 12.3 | |||
COBOL-IT [Member] | Trade Names [Member] | ||||
Acquisition [Abstract] | ||||
Intangible assets | $ 0.2 |
Acquisitions, Acquisition of _2
Acquisitions, Acquisition of Covertix (Details) $ in Millions | May 15, 2018USD ($)Employee | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) |
Acquisition [Abstract] | |||
Cash payment for acquisition | $ 89 | $ 16.7 | |
Covertix [Member] | |||
Acquisition [Abstract] | |||
Cash payment for acquisition | $ 2.5 | ||
Number of employees involved in R&D activities | Employee | 7 |
Acquisitions, Acquisition of Se
Acquisitions, Acquisition of Serena Software Inc. (Details) £ in Millions, $ in Millions | May 02, 2016USD ($) | Apr. 30, 2019USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2016GBP (£) | Oct. 31, 2019USD ($)Country | Apr. 30, 2017USD ($)Country | Apr. 30, 2016USD ($) | Oct. 31, 2018USD ($)Country | |
Acquisition [Abstract] | |||||||||
Repayment of outstanding borrowings | $ 200 | $ 212.6 | $ 372.1 | $ 252.9 | |||||
Cash payment for acquisition | 89 | 299.1 | 19.2 | ||||||
Net cash acquired | $ 1.2 | $ 68.1 | $ 321.7 | ||||||
Number of business operating countries | Country | 48 | 40 | 49 | ||||||
Underwritten cost | $ 1 | ||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Goodwill | 6,671.3 | $ 2,828.6 | $ 6,805 | ||||||
Goodwill | 26.8 | 4,863.9 | |||||||
Consideration | 89 | 6,530.9 | |||||||
Consideration satisfied by [Abstract] | |||||||||
Cash | 89 | 16.7 | |||||||
Carrying Value at Acquisition [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Net (liabilities)/assets | 0.9 | (2,490.8) | |||||||
Fair Value Adjustments [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Net (liabilities)/assets | 61.3 | 4,157.7 | |||||||
Revolving Credit Facility [Member] | |||||||||
Acquisition [Abstract] | |||||||||
Repayment of outstanding borrowings | $ 0 | $ 215 | |||||||
Serena Software, Inc. [Member] | |||||||||
Acquisition [Abstract] | |||||||||
Repayment of outstanding borrowings | $ 316.7 | ||||||||
Cash payment for acquisition | 528.5 | ||||||||
Net cash acquired | 65.8 | ||||||||
Acquisition costs | 0.9 | $ 0.5 | |||||||
Number of business operating countries | Country | 10 | ||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Goodwill | 0 | ||||||||
Intangible assets - purchased | 317.7 | ||||||||
Intangible assets - other | 0.1 | ||||||||
Property, plant and equipment | 1.9 | ||||||||
Other non-current assets | 0.2 | ||||||||
Deferred tax asset | 15.3 | ||||||||
Trade and other receivables | 27.4 | ||||||||
Cash and cash equivalents | 65.8 | ||||||||
Trade and other payables | (27.7) | ||||||||
Current tax liabilities | (11.8) | ||||||||
Borrowings - short-term | (4) | ||||||||
Short-term provisions | (3.2) | ||||||||
Deferred income - short-term | (68.5) | ||||||||
Deferred income - long-term | (14.1) | ||||||||
Borrowings - long-term | (288.9) | ||||||||
Other non-current liabilities | (0.7) | ||||||||
Deferred tax liabilities | (111.6) | ||||||||
Net (liabilities)/assets | (102.1) | ||||||||
Goodwill | 379.7 | ||||||||
Consideration | 277.6 | ||||||||
Consideration satisfied by [Abstract] | |||||||||
Cash | 277.6 | ||||||||
Serena Software, Inc. [Member] | Carrying Value at Acquisition [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Goodwill | 462.4 | ||||||||
Intangible assets - purchased | 0 | ||||||||
Intangible assets - other | [1] | 0.1 | |||||||
Property, plant and equipment | 1.9 | ||||||||
Other non-current assets | 0.2 | ||||||||
Deferred tax asset | 15.3 | ||||||||
Trade and other receivables | 27.4 | ||||||||
Cash and cash equivalents | 65.8 | ||||||||
Trade and other payables | (27.7) | ||||||||
Current tax liabilities | (11.8) | ||||||||
Borrowings - short-term | (4) | ||||||||
Short-term provisions | (3.2) | ||||||||
Deferred income - short-term | (72.3) | ||||||||
Deferred income - long-term | (14.9) | ||||||||
Borrowings - long-term | (288.9) | ||||||||
Other non-current liabilities | (0.7) | ||||||||
Deferred tax liabilities | (2.4) | ||||||||
Net (liabilities)/assets | 147.2 | ||||||||
Goodwill | 0 | ||||||||
Consideration | 0 | ||||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Goodwill | (462.4) | ||||||||
Intangible assets - purchased | 317.7 | ||||||||
Intangible assets - other | 0 | ||||||||
Property, plant and equipment | 0 | ||||||||
Other non-current assets | 0 | ||||||||
Deferred tax asset | 0 | ||||||||
Trade and other receivables | 0 | ||||||||
Cash and cash equivalents | 0 | ||||||||
Trade and other payables | 0 | ||||||||
Current tax liabilities | 0 | ||||||||
Borrowings - short-term | 0 | ||||||||
Short-term provisions | 0 | ||||||||
Deferred income - short-term | [2] | 3.8 | |||||||
Deferred income - long-term | [2] | 0.8 | |||||||
Borrowings - long-term | 0 | ||||||||
Other non-current liabilities | 0 | ||||||||
Deferred tax liabilities | [3] | (109.2) | |||||||
Net (liabilities)/assets | (249.3) | ||||||||
Goodwill | 0 | ||||||||
Consideration | 0 | ||||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | Technology [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Intangible assets - purchased | 86.1 | ||||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Intangible assets - purchased | 210.2 | ||||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | Trade Names [Member] | |||||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||||
Intangible assets - purchased | 21.4 | ||||||||
Serena Software, Inc. [Member] | Revolving Credit Facility [Member] | |||||||||
Acquisition [Abstract] | |||||||||
Face amount | $ 225 | $ 375 | |||||||
Serena Software, Inc. [Member] | Numis Securities [Member] | |||||||||
Acquisition [Abstract] | |||||||||
Proceeds from private placement | $ 225.7 | £ 158.2 | |||||||
Underwritten cost | $ 3 | ||||||||
[1] | Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Serena; | ||||||||
[2] | Deferred income has been valued taking account of the remaining performance obligations; and | ||||||||
[3] | A deferred tax liability has been established relating to the purchase of intangibles. |
Acquisitions, Acquisition of GW
Acquisitions, Acquisition of GWAVA Inc. (Details) $ in Millions | Sep. 30, 2016USD ($)CountryEmployeeUserOrganisationPartner | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Goodwill | $ 26.8 | $ 4,863.9 | ||
Consideration | 89 | 6,530.9 | ||
Consideration satisfied by [Abstract] | ||||
Cash | 89 | 16.7 | ||
Gross Carrying Amount [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | 0.9 | (2,490.8) | ||
Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | $ 61.3 | $ 4,157.7 | ||
GWAVA Inc. [Member] | ||||
Acquisition [Abstract] | ||||
Acquisition transaction costs | $ 1.5 | |||
Number of countries | Country | 60 | |||
Number of customer organisations | Organisation | 3,000 | |||
Number of business partners | Partner | 1,000 | |||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | $ 5.3 | |||
Intangible assets - other | 0 | |||
Property, plant and equipment | 0.2 | |||
Trade and other receivables | 3 | |||
Cash and cash equivalents | 2.4 | |||
Trade and other payables | (1.4) | |||
Short-term deferred income | (3.7) | |||
Long-term deferred income | (0.8) | |||
Deferred tax liabilities | (1.4) | |||
Net (liabilities)/assets | 3.6 | |||
Goodwill | 12.8 | |||
Consideration | 16.4 | |||
Consideration satisfied by [Abstract] | ||||
Cash | $ 16.4 | |||
GWAVA Inc. [Member] | Bottom of Range [Member] | ||||
Acquisition [Abstract] | ||||
Number of users | User | 1,000,000 | |||
GWAVA Inc. [Member] | US, Canada and Germany [Member] | ||||
Acquisition [Abstract] | ||||
Number of employees | Employee | 90 | |||
GWAVA Inc. [Member] | Gross Carrying Amount [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | $ 0 | |||
Intangible assets - other | 1.2 | |||
Property, plant and equipment | 0.2 | |||
Trade and other receivables | 3 | |||
Cash and cash equivalents | 2.4 | |||
Trade and other payables | (1.4) | |||
Short-term deferred income | (4) | |||
Long-term deferred income | (0.8) | |||
Deferred tax liabilities | 0 | |||
Net (liabilities)/assets | 0.6 | |||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | [1] | 5.3 | ||
Intangible assets - other | [2] | (1.2) | ||
Property, plant and equipment | 0 | |||
Trade and other receivables | 0 | |||
Cash and cash equivalents | 0 | |||
Trade and other payables | 0 | |||
Short-term deferred income | [3] | 0.3 | ||
Long-term deferred income | [3] | 0 | ||
Deferred tax liabilities | [4] | (1.4) | ||
Net (liabilities)/assets | 3 | |||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | Technology [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | 4.1 | |||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | 0.5 | |||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | Trade Names [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | $ 0.7 | |||
[1] | Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of GWAVA Inc.; | |||
[2] | Other intangible assets relating to historic IP has been written down to nil; | |||
[3] | Deferred income has been valued taking account of the remaining performance obligations; and | |||
[4] | A deferred tax liability has been established relating to the purchase of intangibles. |
Acquisitions, Acquisition of Op
Acquisitions, Acquisition of OpenATTIC (Details) € in Millions, $ in Millions | Nov. 01, 2016USD ($) | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | Oct. 31, 2016USD ($) | Oct. 31, 2016EUR (€) |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Goodwill | $ 26.8 | $ 4,863.9 | |||
Consideration | 89 | 6,530.9 | |||
Consideration satisfied by [Abstract] | |||||
Cash | 89 | 16.7 | |||
Gross Carrying Amount [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | 0.9 | (2,490.8) | |||
Fair value adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | $ 61.3 | $ 4,157.7 | |||
OpenATTIC [Member] | |||||
Business Combination [Abstract] | |||||
Acquisition transaction costs | $ 1.2 | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets - purchased | $ 5 | ||||
Net (liabilities)/assets | 5 | ||||
Goodwill | 0 | ||||
Consideration | 5 | ||||
Consideration satisfied by [Abstract] | |||||
Cash | 5 | € 4.7 | |||
OpenATTIC [Member] | Gross Carrying Amount [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets - purchased | 0 | ||||
Net (liabilities)/assets | 0 | ||||
OpenATTIC [Member] | Fair value adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets - purchased | 5 | ||||
Net (liabilities)/assets | $ 5 |
Acquisitions, Acquisition of _3
Acquisitions, Acquisition of OpenStack (Details) - USD ($) $ in Millions | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 |
Business Combination [Abstract] | |||
Cash consideration | $ 89 | $ 16.7 | |
OpenStack [Member] | |||
Business Combination [Abstract] | |||
Cash consideration | $ 0 |
Cash Flow Statement (Details)
Cash Flow Statement (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2019 | Apr. 30, 2017 | [1] | Oct. 31, 2018 | ||
Cash flows from operating activities [Abstract] | |||||
(Loss) / Profit from continuing operations | $ (18.1) | $ 124.1 | $ 707.2 | ||
Profit from discontinued operation | 1,487.2 | [2] | 33.7 | 76.9 | |
Profit for the period | 1,469.1 | 157.8 | 784.1 | ||
Adjustments for [Abstract] | |||||
Gain on disposal of discontinued operation | (1,767.9) | 0 | 0 | ||
Net finance costs | 255.8 | 95.8 | 342.7 | ||
Taxation - continuing operations | (16) | 38.5 | (673.1) | ||
Taxation - discontinued operation | 318.1 | 0 | 34.2 | ||
Share of results of associates | 0.3 | 1.3 | 1.8 | ||
Operating profit | 259.4 | 293.4 | 489.7 | ||
- continuing operations | 221.7 | 293.4 | 376.8 | ||
- discontinued operation | 37.7 | 0 | 112.9 | ||
Research and development tax credits | (1.2) | (3) | (2) | ||
Depreciation | 66.5 | 11.8 | 95.2 | ||
Loss on disposal of property, plant and equipment | 3.6 | 0.5 | 4.7 | ||
Gain on disposal of Atalla | (3.7) | 0 | 0 | ||
Amortization of intangible assets | 716.5 | 236.4 | 943.3 | ||
Amortization of contract-related costs | 10.2 | 0 | 0 | ||
Share based compensation charge | 71.3 | 34.5 | 72.2 | ||
Foreign exchange movements | 11.1 | (4.9) | (34.6) | ||
Provisions movements | 43.8 | 47.3 | 142.8 | ||
Changes in working capital [Abstract] | |||||
Inventories | 0 | 0 | 0.1 | ||
Trade and other receivables | 183 | 10.3 | (408.8) | ||
Increase in contract-related costs | (36.7) | 0 | 0 | ||
Payables and other liabilities | (114.8) | (33.3) | 131.3 | ||
Provision utilization | (58.6) | (43.5) | (145) | ||
Contract liabilities - deferred income | (98.5) | 15.5 | 131.4 | ||
Pension funding in excess of charge to operating profit | 4.4 | (0.2) | 4 | ||
Cash generated from operations | $ 1,056.3 | $ 564.8 | $ 1,424.3 | ||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) | ||||
[2] | The comparatives for the 18 months ended 31 October 2018 have been revised to reclassify certain costs from administrative expenses to cost of sales, selling and distribution expenses and research and development expenses as described in the Basis of Preparation of the Significant Accounting Policies section. |