Document and Entity Information
Document and Entity Information - shares | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Cover [Abstract] | ||
Entity Registrant Name | MICRO FOCUS INTERNATIONAL PLC | |
Entity Central Index Key | 0001359711 | |
Document Type | 20-F | |
Amendment Flag | false | |
Document Annual Report | true | |
Current Fiscal Year End Date | --10-31 | |
Document Period End Date | Oct. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | FY | |
Document Transition Report | false | |
Document Shell Company Report | false | |
Entity Address, Country | GB | |
Entity Common Stock, Shares Outstanding | 364,545,377 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Document Accounting Standard | International Financial Reporting Standards | |
Entity Shell Company | false |
Consolidated statement of compr
Consolidated statement of comprehensive income $ in Millions | 12 Months Ended | 18 Months Ended | |||||||
Oct. 31, 2020USD ($)$ / shares | Oct. 31, 2020£ / shares | Oct. 31, 2019USD ($)$ / shares | Oct. 31, 2018USD ($)$ / shares | ||||||
Continuing operations [Abstract] | |||||||||
Revenue | $ 3,001 | $ 3,348.4 | [1] | $ 4,754.4 | [2] | ||||
Cost of sales | (702.7) | (789.9) | [1] | (1,302.7) | [2] | ||||
Gross profit | 2,298.3 | 2,558.5 | [1] | 3,451.7 | [2] | ||||
Selling and distribution expenses | (1,112.1) | (1,224.8) | [1] | (1,764.2) | [2] | ||||
Research and development expenses | (513.6) | (491.2) | [1] | (680.8) | [2] | ||||
Administrative expenses | (3,334) | (620.8) | [1] | (629.9) | [2] | ||||
Operating profit/(loss) | (2,661.4) | 221.7 | [1] | 376.8 | [2] | ||||
Finance costs | (281.6) | (282.4) | [1] | (350.4) | [2] | ||||
Finance income | 2.6 | 26.6 | [1] | 7.7 | [2] | ||||
Net finance costs | (279) | (255.8) | [1] | (342.7) | [2] | ||||
Profit/(loss) before tax | (2,940.4) | (34.1) | [1] | 34.1 | [2] | ||||
Taxation | (34.2) | 16 | [1] | 673.1 | [2] | ||||
Profit/(loss) from continuing operations | (2,974.6) | (18.1) | [1] | 707.2 | [2] | ||||
Profit/(loss) from discontinued operation (attributable to equity shareholders of the Company) | 5.1 | 1,487.2 | [1] | 76.9 | [2] | ||||
Profit/(loss) for the period | (2,969.5) | 1,469.1 | [1] | 784.1 | [2] | ||||
Attributable to: | |||||||||
Equity shareholders of the Company | (2,969.5) | 1,468.8 | [1] | 784 | [2] | ||||
Non-controlling interests | 0 | 0.3 | [1] | 0.1 | [2] | ||||
Continuing operations: | |||||||||
Actuarial loss on pension schemes liabilities | (0.4) | (26.2) | [1] | (8.9) | [2] | ||||
Actuarial (loss)/gain on non-plan pension assets | 0.4 | 0.3 | [1] | (5.3) | [2] | ||||
Deferred tax movement on pension schemes | (5) | 13 | [1] | 3.8 | [2] | ||||
Discontinued operation: | |||||||||
Actuarial (loss)/gain on pension schemes liabilities | 0.1 | [1] | (1.5) | [2] | |||||
Actuarial gain on non-plan pension assets | 0.1 | [1] | (0.5) | [2] | |||||
Deferred tax movement on pension schemes | [2] | 0.5 | |||||||
Currency translation differences - discontinued operation | [1] | (1.5) | |||||||
Continuing operations: Items that may be subsequently reclassified to profit or loss | |||||||||
Cash flow hedge movements | (41.3) | (122.9) | [1] | 86.4 | [2] | ||||
Deferred tax movement on cash flow hedge movements | 7.8 | ||||||||
Current tax movement | 23.3 | [1] | (16.4) | [2] | |||||
Deferred tax movement | (8.7) | 14 | [1] | ||||||
Deferred tax movement on Euro loan foreign exchange hedging | 11.1 | ||||||||
Currency translation differences - continuing operations | (67) | (206.2) | [1] | (29.5) | [2] | ||||
Currency translation differences - discontinued operation | [2] | 0.7 | |||||||
Other comprehensive income/(expense) for the period | (103.1) | (306) | [1] | 29.3 | [2] | ||||
Total comprehensive income/(expense) for the period | (3,072.6) | 1,163.1 | [1] | 813.4 | [2] | ||||
Attributable to: | |||||||||
Equity shareholders of the Company | (3,072.6) | 1,162.8 | [1] | 813.3 | [2] | ||||
Non-controlling interests | 0 | 0.3 | [1] | 0.1 | [2] | ||||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||||||
Continuing operations | (3,077.7) | (322.8) | [1] | 737.3 | [2] | ||||
Discontinued operations | $ 5.1 | $ 1,485.9 | [1] | $ 76.1 | [2] | ||||
From continuing and discontinued operations | |||||||||
basic and diluted (in dollars per share) | (per share) | $ (8.85) | £ (6.92) | |||||||
Basic (in dollars per share) | (per share) | (8.85) | (6.92) | $ 3.89 | [1] | $ 2.02 | [2] | |||
Diluted (in dollars per share) | (per share) | (8.85) | [3] | (6.92) | [3] | 3.84 | [1],[3] | 1.96 | [2] | |
From continuing operations | |||||||||
basic and diluted (in dollars per share) | (per share) | (8.86) | (6.93) | |||||||
Basic (in dollars per share) | (per share) | (8.86) | (6.93) | (0.05) | [1] | 1.82 | [2] | |||
Diluted (in dollars per share) | (per share) | $ (8.86) | [3] | £ (6.93) | [3] | $ (0.05) | [1],[3] | $ 1.77 | [2] | |
Before Exceptional Items [Member] | |||||||||
Continuing operations [Abstract] | |||||||||
Revenue | $ 3,001 | $ 3,348.4 | $ 4,754.4 | ||||||
Cost of sales | (698.7) | (777.3) | (1,237.3) | ||||||
Gross profit | 2,302.3 | 2,571.1 | 3,517.1 | ||||||
Selling and distribution expenses | (1,099.2) | (1,216.4) | (1,725) | ||||||
Research and development expenses | (512.7) | (491.7) | (663.4) | ||||||
Administrative expenses | (340.2) | (347.1) | (213.7) | ||||||
Operating profit/(loss) | 350.2 | 515.9 | 915 | ||||||
Finance costs | (281.6) | (282.4) | (344) | ||||||
Finance income | 2.6 | 26.6 | 7.1 | ||||||
Net finance costs | (279) | (255.8) | (336.9) | ||||||
Profit/(loss) before tax | 71.2 | 260.1 | 578.1 | ||||||
Taxation | (72.9) | (38.3) | (125.1) | ||||||
Profit/(loss) from continuing operations | (1.7) | 221.8 | 453 | ||||||
Profit/(loss) from discontinued operation (attributable to equity shareholders of the Company) | 7.3 | 28.7 | 76.9 | ||||||
Profit/(loss) for the period | 5.6 | 250.5 | 529.9 | ||||||
Attributable to: | |||||||||
Equity shareholders of the Company | 5.6 | 250.2 | 529.8 | ||||||
Non-controlling interests | 0 | 0.3 | 0.1 | ||||||
Continuing operations: | |||||||||
Actuarial loss on pension schemes liabilities | (0.4) | (26.2) | (8.9) | ||||||
Actuarial (loss)/gain on non-plan pension assets | 0.4 | 0.3 | (5.3) | ||||||
Deferred tax movement on pension schemes | (5) | 13 | 3.8 | ||||||
Discontinued operation: | |||||||||
Actuarial (loss)/gain on pension schemes liabilities | 0.1 | (1.5) | |||||||
Actuarial gain on non-plan pension assets | 0.1 | (0.5) | |||||||
Deferred tax movement on pension schemes | 0.5 | ||||||||
Currency translation differences - discontinued operation | 0 | ||||||||
Continuing operations: Items that may be subsequently reclassified to profit or loss | |||||||||
Cash flow hedge movements | (41.3) | (122.9) | 86.4 | ||||||
Deferred tax movement on cash flow hedge movements | 7.8 | ||||||||
Current tax movement | 23.3 | (16.4) | |||||||
Deferred tax movement | (8.7) | 14 | |||||||
Deferred tax movement on Euro loan foreign exchange hedging | 11.1 | ||||||||
Currency translation differences - continuing operations | (67) | (206.2) | (29.5) | ||||||
Currency translation differences - discontinued operation | 0.7 | ||||||||
Other comprehensive income/(expense) for the period | (103.1) | (304.5) | 29.3 | ||||||
Total comprehensive income/(expense) for the period | (97.5) | (54) | 559.2 | ||||||
Attributable to: | |||||||||
Equity shareholders of the Company | (97.5) | (54.3) | 559.1 | ||||||
Non-controlling interests | 0 | 0.3 | 0.1 | ||||||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||||||
Continuing operations | (104.8) | (82.9) | 483.1 | ||||||
Discontinued operations | 7.3 | 28.9 | 76.1 | ||||||
Exceptional Items [Member] | |||||||||
Continuing operations [Abstract] | |||||||||
Revenue | 0 | 0 | 0 | ||||||
Cost of sales | (4) | (12.6) | (65.4) | ||||||
Gross profit | (4) | (12.6) | (65.4) | ||||||
Selling and distribution expenses | (12.9) | (8.4) | (39.2) | ||||||
Research and development expenses | (0.9) | 0.5 | (17.4) | ||||||
Administrative expenses | (2,993.8) | (273.7) | (416.2) | ||||||
Operating profit/(loss) | (3,011.6) | (294.2) | (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 | (3,011.6) | (294.2) | (544) | ||||||
Taxation | 38.7 | 54.3 | 798.2 | ||||||
Profit/(loss) from continuing operations | (2,972.9) | (239.9) | 254.2 | ||||||
Profit/(loss) from discontinued operation (attributable to equity shareholders of the Company) | (2.2) | 1,458.5 | 0 | ||||||
Profit/(loss) for the period | (2,975.1) | 1,218.6 | 254.2 | ||||||
Attributable to: | |||||||||
Equity shareholders of the Company | (2,975.1) | 1,218.6 | 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 on pension schemes | 0 | 0 | 0 | ||||||
Discontinued operation: | |||||||||
Actuarial (loss)/gain on pension schemes liabilities | 0 | 0 | |||||||
Actuarial gain on non-plan pension assets | 0 | 0 | |||||||
Deferred tax movement on pension schemes | 0 | ||||||||
Currency translation differences - discontinued operation | (1.5) | ||||||||
Continuing operations: Items that may be subsequently reclassified to profit or loss | |||||||||
Cash flow hedge movements | 0 | 0 | 0 | ||||||
Deferred tax movement on cash flow hedge movements | 0 | ||||||||
Current tax movement | 0 | 0 | |||||||
Deferred tax movement | 0 | 0 | |||||||
Deferred tax movement on Euro loan foreign exchange hedging | 0 | ||||||||
Currency translation differences - continuing operations | 0 | 0 | 0 | ||||||
Currency translation differences - discontinued operation | 0 | ||||||||
Other comprehensive income/(expense) for the period | 0 | (1.5) | 0 | ||||||
Total comprehensive income/(expense) for the period | (2,975.1) | 1,217.1 | 254.2 | ||||||
Attributable to: | |||||||||
Equity shareholders of the Company | (2,975.1) | 1,217.1 | 254.2 | ||||||
Non-controlling interests | 0 | 0 | 0 | ||||||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||||||
Continuing operations | (2,972.9) | (239.9) | 254.2 | ||||||
Discontinued operations | $ (2.2) | $ 1,457 | $ 0 | ||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | ||||||||
[3] | The Group reported a loss from continuing and discontinued operations attributable to the ordinary equity shareholders of the Company for the 12 months ended October 31, 2020. The Diluted EPS is reported as equal to Basic EPS, as no account can be taken of the effect of dilutive securities under IAS 33. |
Consolidated statement of finan
Consolidated statement of financial position - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | [1] | Oct. 31, 2018 | Apr. 30, 2017 | ||
Non-current assets | |||||||
Goodwill | $ 3,835.4 | $ 6,671.3 | |||||
Other intangible assets | 5,383 | 5,942.3 | $ 6,629.3 | ||||
Property, plant and equipment | 93.7 | 140.5 | 144.3 | ||||
Right-of-use assets | 207.2 | 0 | |||||
Long-term pension assets | 18.2 | 17.1 | |||||
Contract-related costs | 35.7 | 31.5 | |||||
Other non-current assets | 31.8 | 44 | |||||
Total non-current assets | 9,605 | 12,846.7 | |||||
Current assets | |||||||
Inventories | 0 | 0.1 | |||||
Trade and other receivables | 731.4 | 1,032.9 | |||||
Contract-related costs | 27.9 | 19.3 | |||||
Current tax receivables | 45.3 | 40.1 | |||||
Cash and cash equivalents | 737.2 | 355.7 | 620.9 | [1] | $ 151 | [1] | |
Total current assets | 1,541.8 | 1,448.1 | |||||
Total assets | 11,146.8 | 14,294.8 | |||||
Current liabilities | |||||||
Trade and other payables | 503.5 | 611 | |||||
Borrowings | 21.4 | 0 | |||||
Lease obligations (2019: Finance leases) | 82.2 | 11.8 | |||||
Provisions | 49.7 | 29.3 | |||||
Current tax liabilities | 150.1 | 104 | |||||
Contract liabilities | 981.4 | 1,045.9 | 1,134.7 | ||||
Total current liabilities | 1,788.3 | 1,802 | |||||
Non-current liabilities | |||||||
Contract liabilities | 117.2 | 149.9 | |||||
Borrowings | 4,618.9 | 4,670.7 | |||||
Lease obligations (2019: Finance leases) | 168.2 | 11.7 | |||||
Derivative liability | 77.9 | 36.5 | |||||
Retirement benefit obligations | 155 | 141.4 | |||||
Provisions | 22.5 | 49.1 | |||||
Other non-current liabilities | 39.9 | 50.4 | |||||
Current tax liabilities | 102.7 | 119.7 | |||||
Deferred tax liabilities | 841.1 | 987.1 | |||||
Total non-current liabilities | 6,143.4 | 6,216.5 | |||||
Total liabilities | 7,931.7 | 8,018.5 | |||||
Net assets | 3,215.1 | 6,276.3 | |||||
Capital and reserves | |||||||
Share capital | 47.3 | 47.2 | |||||
Share premium account | 46.5 | 44 | |||||
Merger reserve | 1,767.4 | 1,739.8 | |||||
Capital redemption reserve | 2,485 | 2,485 | |||||
Hedging reserve | (63.1) | (29.6) | |||||
Retained earnings | (741.3) | 2,250.7 | |||||
Foreign currency translation reserve | (326.7) | (262.1) | |||||
Total equity attributable to owners of the parent | 3,215.1 | 6,275 | |||||
Non-controlling interests | 0 | 1.3 | |||||
Total equity | $ 3,215.1 | $ 6,276.3 | [2] | $ 7,792 | [2],[3] | $ 1,613.5 | [3] |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | ||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||
[3] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Millions | Total | IFRS 16 [Member] | IFRS 15 [Member] | IFRS 9 [Member] | Share Capital [Member] | Share Capital [Member]IFRS 16 [Member] | Share Capital [Member]IFRS 15 [Member] | Share Capital [Member]IFRS 9 [Member] | Share Premium Account [Member] | Share Premium Account [Member]IFRS 16 [Member] | Share Premium Account [Member]IFRS 15 [Member] | Share Premium Account [Member]IFRS 9 [Member] | Retained Earnings [Member] | Retained Earnings [Member]IFRS 16 [Member] | Retained Earnings [Member]IFRS 15 [Member] | Retained Earnings [Member]IFRS 9 [Member] | Foreign Currency Translation Reserve [Member] | Foreign Currency Translation Reserve [Member]IFRS 16 [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 16 [Member] | Capital Redemption Reserves [Member]IFRS 15 [Member] | Capital Redemption Reserves [Member]IFRS 9 [Member] | Hedging Reserve [Member] | Hedging Reserve [Member]IFRS 16 [Member] | Hedging Reserve [Member]IFRS 15 [Member] | Hedging Reserve [Member]IFRS 9 [Member] | Merger Reserve [Member] | Merger Reserve [Member]IFRS 16 [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 16 [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 16 [Member] | Non-controlling Interests [Member]IFRS 15 [Member] | Non-controlling Interests [Member]IFRS 9 [Member] | ||
Beginning balance at Apr. 30, 2017 | [1] | $ 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 (loss) for the financial period | [1] | 784.1 | 0 | 0 | 784 | 0 | 0 | 0 | 0 | 784 | 0.1 | |||||||||||||||||||||||||||||||
Other comprehensive income/(expense) for the period | [1] | 29.3 | 0 | 0 | (11.9) | (28.8) | 0 | 70 | 0 | 29.3 | 0 | |||||||||||||||||||||||||||||||
Total comprehensive income/(expense) for the period | [1] | 813.4 | 0 | 0 | 772.1 | (28.8) | 0 | 70 | 0 | 813.3 | 0.1 | |||||||||||||||||||||||||||||||
Transactions with owners: | ||||||||||||||||||||||||||||||||||||||||||
Dividends | [1] | (542.2) | 0 | 0 | (542.2) | 0 | 0 | 0 | 0 | (542.2) | 0 | |||||||||||||||||||||||||||||||
Share options: | ||||||||||||||||||||||||||||||||||||||||||
Issue of share capital - share options | [1] | 5.8 | 0.2 | 5.6 | 0 | 0 | 0 | 0 | 0 | 5.8 | 0 | |||||||||||||||||||||||||||||||
Share-based payment charge | [1] | 78.6 | 0 | 0 | 78.6 | 0 | 0 | 0 | 0 | 78.6 | 0 | |||||||||||||||||||||||||||||||
Current tax on share options | [1] | 4.1 | 0 | 0 | 4.1 | 0 | 0 | 0 | 0 | 4.1 | 0 | |||||||||||||||||||||||||||||||
Deferred tax on share options | [1] | (23.7) | 0 | 0 | (23.7) | 0 | 0 | 0 | 0 | (23.7) | 0 | |||||||||||||||||||||||||||||||
Acquisitions: | ||||||||||||||||||||||||||||||||||||||||||
Shares issued to acquire HPE Software business | [1] | 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 | [1] | 0 | (2.9) | 0 | 0 | 0 | 2.9 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Issue and redemption of B shares | [1] | (500) | 0 | (156.7) | (500) | 0 | 500 | 0 | (343.3) | (500) | 0 | |||||||||||||||||||||||||||||||
Share buy-back | [1] | (171.7) | 0 | 0 | (171.7) | 0 | 0 | 0 | 0 | (171.7) | 0 | |||||||||||||||||||||||||||||||
Reallocation of merger reserve | [1] | 0 | 0 | 0 | 2,755.8 | 0 | 0 | 0 | (2,755.8) | 0 | 0 | |||||||||||||||||||||||||||||||
Total movements for the period | [1] | 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 | [2] | 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 | [2] | $ 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 | [1],[2] | 7,792 | 65.8 | 41 | 3,275.2 | (51.7) | 666.3 | 70 | 3,724.4 | 7,791 | 1 | |||||||||||||||||||||||||||||||
Changes in equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the financial period | [2] | 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 | [2] | 1,163.1 | 0 | 0 | 1,472.8 | (210.4) | 0 | (99.6) | 0 | 1,162.8 | 0.3 | |||||||||||||||||||||||||||||||
Transactions with owners: | ||||||||||||||||||||||||||||||||||||||||||
Dividends | [2] | (439.2) | 0 | 0 | (439.2) | 0 | 0 | 0 | 0 | (439.2) | 0 | |||||||||||||||||||||||||||||||
Share options: | ||||||||||||||||||||||||||||||||||||||||||
Issue of share capital - share options | [2] | (0.7) | 0.1 | 3 | (3.8) | 0 | 0 | 0 | 0 | (0.7) | 0 | |||||||||||||||||||||||||||||||
Share-based payment charge | [2] | 64.5 | 0 | 0 | 64.5 | 0 | 0 | 0 | 0 | 64.5 | 0 | |||||||||||||||||||||||||||||||
Current tax on share options | [2] | 13.1 | 0 | 0 | 13.1 | 0 | 0 | 0 | 0 | 13.1 | 0 | |||||||||||||||||||||||||||||||
Deferred tax on share options | [2] | (7.6) | 0 | 0 | (7.6) | 0 | 0 | 0 | 0 | (7.6) | 0 | |||||||||||||||||||||||||||||||
Share reorganization and buy-back: | ||||||||||||||||||||||||||||||||||||||||||
Return of Value - share consolidation | [2] | 0 | (18.7) | 0 | 0 | 0 | 18.7 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||
Expenses relating to Return of Value | [2] | (1) | 0 | 0 | (1) | 0 | 0 | 0 | 0 | (1) | 0 | |||||||||||||||||||||||||||||||
Issue and redemption of B shares | [2] | (1,800) | 0 | 0 | (1,800) | 0 | 1,800 | 0 | (1,800) | (1,800) | 0 | |||||||||||||||||||||||||||||||
Share buy-back | [2] | (544.7) | 0 | 0 | (544.7) | 0 | 0 | 0 | 0 | (544.7) | 0 | |||||||||||||||||||||||||||||||
Reallocation of merger reserve | [2] | 0 | 0 | 0 | 184.6 | 0 | 0 | 0 | (184.6) | 0 | 0 | |||||||||||||||||||||||||||||||
Total movements for the period | [2] | (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 (Revised [Member]) at Oct. 31, 2019 | 6,267.9 | 47.2 | 44 | 2,242.3 | (262.1) | 2,485 | (29.6) | 1,739.8 | 6,266.6 | 1.3 | ||||||||||||||||||||||||||||||||
Ending balance (Impact of Adoption of IFRSs [Member]) at Oct. 31, 2019 | $ (8.4) | $ 0 | $ 0 | $ (8.4) | $ 0 | $ 0 | $ 0 | $ 0 | $ (8.4) | $ 0 | ||||||||||||||||||||||||||||||||
Ending balance at Oct. 31, 2019 | [2] | 6,276.3 | [3] | 47.2 | 44 | 2,250.7 | (262.1) | 2,485 | (29.6) | 1,739.8 | 6,275 | 1.3 | ||||||||||||||||||||||||||||||
Changes in equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||
Profit (loss) for the financial period | (2,969.5) | 0 | 0 | (2,969.5) | 0 | 0 | 0 | 0 | (2,969.5) | 0 | ||||||||||||||||||||||||||||||||
Other comprehensive income/(expense) for the period | (103.1) | 0 | 0 | (5) | (64.6) | 0 | (33.5) | 0 | (103.1) | 0 | ||||||||||||||||||||||||||||||||
Total comprehensive income/(expense) for the period | (3,072.6) | 0 | 0 | (2,974.5) | (64.6) | 0 | (33.5) | 0 | (3,072.6) | 0 | ||||||||||||||||||||||||||||||||
Share options: | ||||||||||||||||||||||||||||||||||||||||||
Issue of share capital - share options | 2.9 | 0.1 | 2.5 | 0.3 | 0 | 0 | 0 | 0 | 2.9 | 0 | ||||||||||||||||||||||||||||||||
Share-based payment charge | 18.3 | 0 | 0 | 18.3 | 0 | 0 | 0 | 0 | 18.3 | 0 | ||||||||||||||||||||||||||||||||
Current tax on share options | 0.1 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0 | 0.1 | 0 | ||||||||||||||||||||||||||||||||
Deferred tax on share options | (1.5) | 0 | 0 | (1.5) | 0 | 0 | 0 | 0 | (1.5) | 0 | ||||||||||||||||||||||||||||||||
Share reorganization and buy-back: | ||||||||||||||||||||||||||||||||||||||||||
Issue and redemption of B shares | 0 | |||||||||||||||||||||||||||||||||||||||||
Purchase of remaining non-controlling interest | 0 | 0 | 0 | 1.3 | 0 | 0 | 0 | 0 | 1.3 | (1.3) | ||||||||||||||||||||||||||||||||
Reallocation of merger reserve | 0 | 0 | 0 | (27.6) | 0 | 0 | 0 | 27.6 | 0 | 0 | ||||||||||||||||||||||||||||||||
Total movements for the period | (3,052.8) | 0.1 | 2.5 | (2,983.6) | (64.6) | 0 | (33.5) | 27.6 | (3,051.5) | (1.3) | ||||||||||||||||||||||||||||||||
Ending balance at Oct. 31, 2020 | $ 3,215.1 | $ 47.3 | $ 46.5 | $ (741.3) | $ (326.7) | $ 2,485 | $ (63.1) | $ 1,767.4 | $ 3,215.1 | $ 0 | ||||||||||||||||||||||||||||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | |||||||||||||||||||||||||||||||||||||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||||||||||||||||||||||||||||||||||||||
[3] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Consolidated statements of cash
Consolidated statements of cash flows - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||||
Cash flows from operating activities | ||||||
Cash generated from operations | $ 1,082.8 | $ 1,056.3 | [1] | $ 1,424.3 | [1] | |
Interest paid | (207.1) | (227.1) | [1] | (301.8) | [1] | |
Bank loan costs | (47.9) | 0 | [1] | (101.2) | [1] | |
Tax paid | (149.6) | (167.4) | [1] | (99.5) | [1] | |
Net cash generated from operating activities | 678.2 | 661.8 | [1] | 921.8 | [1] | |
Cash flows from/(used in) investing activities | ||||||
Payments for intangible assets | (60.6) | (29.3) | [1] | (92.1) | [1] | |
Purchase of property, plant and equipment | (26.3) | (56.3) | [1] | (40.1) | [1] | |
Finance leases | 0 | 0 | (0.7) | [1] | ||
Interest received | 2.4 | 26.6 | [1] | 9.2 | [1] | |
Payment for acquisition of business | (6) | (89) | [1] | (19.2) | [1] | |
Net cash acquired with acquisitions | 0 | 1.2 | [1] | 321.7 | [1] | |
Investing cash flows generated from disposals | 1.3 | 20 | [1] | 0 | [1] | |
Investing cash flows generated from discontinued operation, net of cash disposed | 0 | 2,473.5 | [1] | 0 | [1] | |
Tax paid on divestiture gain | 0 | (264.6) | [1] | 0 | [1] | |
Net cash (used in)/from investing activities | (89.2) | 2,082.1 | [1] | 178.8 | [1] | |
Cash flows used in financing activities | ||||||
Investment in non-controlling interest | 0 | 0 | [1] | (0.1) | [1] | |
Proceeds from issue of ordinary share capital | 2.6 | 3.1 | [1] | 5.8 | [1] | |
Purchase of treasury shares and related expenses | 0 | (544.7) | [1] | (171.7) | [1] | |
Return of Value paid to shareholders | 0 | (1,800) | [1] | (500) | [1] | |
Expenses relating to Return of Value | 0 | (1) | [1] | 0 | [1] | |
Repayment of working capital in respect of the HPE Software business acquisition | 0 | 0 | (225.8) | [1] | ||
Payment for lease liabilities (2019: payment for finance lease liabilities) | (80.1) | (12.9) | [1] | 0 | [1] | |
Settlement of foreign exchange derivative | (21.8) | 0 | [1] | 0 | [1] | |
Repayment of bank borrowings | (1,589.7) | (212.6) | [1] | (252.9) | [1] | |
Proceeds from bank borrowings | 1,490.8 | 0 | [1] | 1,043.8 | [1] | |
Dividends paid to owners | 0 | (439.2) | [1] | (542.2) | [1] | |
Net cash used in financing activities | (198.2) | (3,007.3) | [1] | (643.1) | [1] | |
Effects of exchange rate changes | (9.3) | (1.8) | [1] | 15.3 | [1] | |
Net increase/(decrease) in cash and cash equivalents | 381.5 | (265.2) | [1] | 472.8 | [1] | |
Cash and cash equivalents at beginning of period | [1] | 355.7 | 620.9 | 151 | ||
Cash equivalents | 737.2 | 355.7 | [1] | 623.8 | [1] | |
Reclassification to current assets classified as held for sale | 0 | 0 | [1] | (2.9) | [1] | |
Cash and cash equivalents at end of period | $ 737.2 | $ 355.7 | [1] | $ 620.9 | [1] | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
General information
General information | 12 Months Ended |
Oct. 31, 2020 | |
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, 2020, the Group had a presence in 48 countries (October 31, 2019: 48; October 31, 2018: 49) worldwide and employed approximately 11,900 people (October 31, 2019; 12,100; October 31, 2018: 14,800 including 1,200 SUSE employees). The Company is listed on the London Stock Exchange and its American Depositary Shares are listed on the New York Stock Exchange. In 2018, 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. The Group Consolidated financial statements were authorized for issuance by the board of directors on February 8, 2021. |
Significant Accounting policies
Significant Accounting policies | 12 Months Ended |
Oct. 31, 2020 | |
Significant Accounting policies [Abstract] | |
Significant Accounting policies | I 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”), in accordance with international accounting standards in conformity with the requirements of the Companies Act and in accordance with international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union (“IFRSs as adopted by the EU”). 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 12-month and 18-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 judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement 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 judgements”. 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 12 months ended October 31, 2019 apart from standards, amendments to or interpretations of published standards adopted during the year, as set out in Accounting Policy W “Adoption of new and revised IFRS”. Going concern In line with IAS 1 ‘Presentation of financial statements’ and the FRC guidance on “risk management, internal control and related financial and business reporting”, management has taken into account available information about the future for a period of at least, but not limited to, 12 months from the date of approval of the consolidated financial statements when assessing the Group’s ability to continue as a going concern. This assessment covers the period to February 2022, which is consistent with the FRC guidance. Item 5.A and Item 5.B includes information on our Group financial results, cash flow and net debt, and the balance sheet position. In making this assessment, the directors considered the Group’s liquidity and solvency position. Whilst the Group has quarterly instalment payments due and, dependent on leverage, may be subject to an excess cash sweep against its external borrowing in the period to February 2022 the Group has no term loans maturing until June 2024 (see note 8 “Borrowings” for an analysis of borrowing maturity and additional details on repayment requirements). The Revolving Facility was undrawn at October 31, 2020 and the Group had $737.2 million of cash balances at October 31, 2020 providing total liquidity of $1,087.2 million. The Group’s Revolving Facility is subject to a net leverage covenant when it is more than 35% drawn at the quarter end (see note 10 “Financial risk management and instruments” for additional details). Under the Group’s forecasts the Revolving Facility is not forecast to be drawn in the period to February 2022 and therefore no covenant tests are expected to apply. The Group manages solvency and liquidity as part of its budgeting and performance management. The Group’s forecasting and planning cycle consists of a budget and a long-range plan which are used to generate income statement and cash flow projections. The cash flow projections also forecast the headroom on the Group’s undrawn Revolving Facility and expected net leverage. Actual and forecast liquidity are reviewed at least weekly by the Group’s working capital management group which reports to the Chief Financial Officer. Also in assessing liquidity, the board considered the reported net current liability position of $246.5 million at October 31, 2020. This is the result of $981.4 million of advance billing for services which is required to be recognised as a contract liability. The cost of delivering these services is fully included in the Group’s forecasting and sensitivities. COVID-19 and sensitivity In assessing going concern the Group has estimated the financial impact of severe but plausible scenarios, which take into account the Group’s principal risks, impacting both revenue and Adjusted EBITDA, including a greater than forecast level of exceptional expenditure to complete the Group’s IT implementation being incurred. The impact of COVID-19 on Group’s cash flow in the current year has been limited however the severe but plausible scenarios reflect a wider macro-economic impact from COVID-19 continuing for the entire 12-month going concern assessment period to February 2022. This stress testing confirmed that existing projected cash flows and cash management activities provide us with significant headroom over the going concern assessment period. In addition under the severe but plausible scenarios, there is no point at which the Group would likely need to draw upon the Revolving Facility in the period to February 2022 and therefore no covenant test would be expected to apply. Conclusion Having performed the assessments discussed above, the directors considered it appropriate to adopt the going concern basis of accounting when preparing the Consolidated financial statements. This assessment covers the period to February 2022, which is consistent with the FRC guidance. B Consolidation The financial statements of the Group comprise the financial statements of the Company and entities controlled by the Company and its subsidiaries 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 unrealised 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. During the 12-month period ended October 31, 2020, the Group acquired the minority interest remaining in Novell Japan Ltd and as a result held a 100% interest at October 31, 2020. At October 31, 2019 the Group had an 84.24% (2018: 81.05%) interest in Novell Japan Ltd which gave rise to the minority interest reported in these financial statements (note 28 “Non-controlling interests”). C Assets held for sale and discontinued operations A Non-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 Non-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 The Group follows the principle-based five-step model in IFRS 15 and recognizes revenue on transfer of control of promised goods or services to customer when, or as the performance obligation is satisfied at 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. Typically, a license deal includes support, a separate performance obligation consisting of: call in assistance and when-and-if available updates. The right to get assistance and updates is not mandatory to use the license. Contracts may also include professional services, which primarily comprise installation, implementation, configuration, advisory services and staff augmentation; these services are available both from the Group and other external service providers. All software is considered off-the-shelf and most services make use of existing configuration functionality and do not modify or customize the source code within the products, nor do they create custom software. The professional service personalize the software to the customer’s requirements and preferences. Customers can benefit from both the software on its own and the subsequent services, individually and together. On this basis, the Group concludes that services are typically distinct from licenses and constitute a separate performance obligation, although this is also assessed on an individual contract basis. 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 licenses, the Group has not established SSP for licenses. 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 licenses. 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, 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 and the performance obligation is satisfied). Licence revenue is considered right to use as the customer receives the right to download and use the software. 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 more than one performance obligation can be identified in the contract, revenue is allocated to each performance obligation, otherwise the Group policy is to recognize 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 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 liabilities. Where consideration is received in advance of satisfying the performance obligation and the performance obligation will be satisfied within one year of receipt of the consideration no significant financing component is recognized. The majority of the Group’s SaaS and maintenance contracts are for periods of one year. In addition, for multi-year contracts where consideration is received in advance, the purpose of the upfront billing is not for the Group to obtain financing, rather to avoid the administrative tasks of subsequent invoicing, cash collection and risk of cancellation. 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 18-month period ended October 31, 2018 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 Adjusted EBITDA as set out in note 1 “Segmental reporting”. 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, judgement is required to determine what the Group defines as “exceptional”. The Group considers whether an item is exceptional in nature if it is material or 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 programmes. 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 favourable and unfavourable transactions impacting revenue, income and expense. Examples of transactions which may be considered of an exceptional nature include major restructuring programmes, cost of acquisitions, the cost of integrating acquired businesses, gains on the disposal of discontinued operations or impairment charges recognized against goodwill. 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 behavioural 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 |
Segmental reporting
Segmental reporting | 12 Months Ended |
Oct. 31, 2020 | |
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. 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. For the 12 months ended October 31, 2020, the Operating Committee consisted of the Chief Executive Officer, the Chief Financial Officer, Chief Operating Officer, Chief HR Officer and Vice President Business Operations and the Chief Legal Officer. The Group is organised 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. 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Reconciliation to Adjusted EBITDA: (Loss)/profit before tax (2,940.4 ) (34.1 ) 34.1 Finance costs 6 281.6 282.4 350.4 Finance income 6 (2.6 ) (26.6 ) (7.7 ) Depreciation of property, plant and equipment 12 42.0 66.5 88.6 Right-of-use asset depreciation 76.9 - - Amortization of intangible assets 11 674.1 716.5 903.1 Exceptional items (reported in Operating (loss)/profit) 4 3,011.6 294.2 538.2 Share-based compensation charge 29 17.0 68.8 64.3 Product development intangible costs capitalized 11 (16.2 ) (16.5 ) (44.4 ) Foreign exchange credit 3 29.7 11.3 (37.4 ) Adjusted EBITDA 1,173.7 1,362.5 1,889.2 For the reportable segment, the total assets were $11,146.8 million (2019: $14,294.8 million) and the total liabilities were $7,931.7 million (2019: $8,018.5 million) as at October 31, 2020. No measure of total assets and total liabilities has been reported for the 18 months ended October 31, 2018 as these were not regularly provided to the CODM. |
Supplementary information
Supplementary information | 12 Months Ended |
Oct. 31, 2020 | |
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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m UK 173.0 206.9 299.6 USA 1,289.8 1,523.0 2,279.8 Germany 218.7 220.7 309.5 Canada 108.0 115.9 178.4 France 101.4 123.3 195.5 Japan 96.9 108.6 145.8 Other 1,013.2 1,050.0 1,345.9 Total 3,001.0 3,348.4 4,754.4 The total of non-current assets other than financial instruments and deferred tax assets as at October 31, 2020 located in the USA is $3,301.0 million (October 31, 2019: $4,623.0 million ; October 31, 2018: $5,145.8 million) the total in the non-USA is $6,304.0 million (October 31, 2019: $8,192.2 million ; October 31, 2018: $8,488.3 million). They exclude trade and other receivables, derivative financial instruments and deferred tax. Analysis of revenue from contracts with customers 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Revenue from contracts with customers 3,001.0 3,348.4 4,754.4 Being: Recognized over time: Maintenance revenue 1,920.8 2,051.6 2,818.9 SaaS & other recurring revenue 245.3 278.9 365.1 2,166.1 2,330.5 3,184.0 Recognized at point in time: Licence revenue 646.5 800.0 1,206.1 Consulting revenue 188.4 217.9 364.3 834.9 1,017.9 1,570.4 Total Revenue 3,001.0 3,348.4 4,754.4 Analysis of revenue by product Set out below is an analysis of revenue recognized between the principal Product Portfolios for the 12 months ended October 31 2020 with comparatives: 12 months ended October 31, 2020: Licence Maintenance SaaS & other recurring Consulting Total $m $m $m $m $m Application Modernization & Connectivity 138.6 321.6 - 10.1 470.3 Application Delivery Management 102.0 439.2 73.9 15.9 631.0 IT Operations Management 175.1 559.4 4.6 113.9 853.0 Security 162.6 416.8 33.6 33.1 646.1 Information Management & Governance 68.2 184.2 133.4 15.4 401.2 Subtotal 646.5 1,921.2 245.5 188.4 3,001.6 Deferred revenue haircut - (0.4 ) (0.2 ) - (0.6 ) Total Revenue 646.5 1,920.8 245.3 188.4 3,001.0 12 months ended October 31, 2019: Licence Maintenance SaaS & other recurring Consulting Total $m $m $m $m $m Application Modernization & Connectivity 170.9 326.1 - 11.7 508.7 Application Delivery Management 130.3 485.4 87.8 18.2 721.7 IT Operations Management 237.5 645.8 11.0 127.5 1,021.8 Security 185.7 416.7 35.0 43.9 681.3 Information Management & Governance 75.6 183.6 145.9 16.6 421.7 Subtotal 800.0 2,057.6 279.7 217.9 3,355.2 Deferred revenue haircut - (6.0 ) (0.8 ) - (6.8 ) Total Revenue 800.0 2,051.6 278.9 217.9 3,348.4 18 months ended October 31, 2018: Licence Maintenance SaaS & other recurring Consulting Total $m $m $m $m $m Application Modernization & Connectivity 256.3 497.6 - 17.9 771.8 Application Delivery Management 185.5 646.7 114.1 41.6 987.9 IT Operations Management 363.1 869.9 15.1 192.8 1,440.9 Security 291.6 580.2 41.6 81.4 994.8 Information Management & Governance 117.2 267.2 203.1 32.6 620.1 Subtotal 1,213.7 2,861.6 373.9 366.3 4,815.5 Deferred revenue haircut (7.6 ) (42.7 ) (8.8 ) (2.0 ) (61.1 ) Total Revenue 1,206.1 2,818.9 365.1 364.3 4,754.4 |
Profit_(loss)before tax
Profit/(loss)before tax | 12 Months Ended |
Oct. 31, 2020 | |
Profit/(loss)before tax [Abstract] | |
Profit/(loss)before tax | 3 Profit/(loss)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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Staff costs 29 1,344.4 1,409.0 2,095.0 Depreciation of property, plant and equipment: 12 42.0 52.6 71.2 Depreciation of right-of-use assets (2019 and 2018: finance lease depreciation) 1 19 76.9 13.9 17.4 Loss on disposal of property, plant and equipment 12 5.6 3.6 4.7 Amortization of intangibles 11 674.1 716.5 903.1 Operating lease rentals payable 1 - plant and machinery - 7.0 8.8 - property - 58.9 85.3 Provision for receivables impairment (release)/charge 14 (4.8 ) 16.0 40.0 Foreign exchange loss/(gain) on derivative financial instruments 21.8 (6.9 ) - Foreign exchange loss/(gain) 7.9 18.2 (37.4 ) 1 |
Exceptional items
Exceptional items | 12 Months Ended |
Oct. 31, 2020 | |
Exceptional items [Abstract] | |
Exceptional items | 4 Exceptional items 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Reported within Operating (loss)/profit: Note $m $m $m Integration costs 152.6 245.9 279.0 Pre-acquisition costs - - 43.0 Acquisition costs 0.2 1.5 27.1 Property-related costs 15.2 16.3 38.1 Severance and legal costs 33.7 32.1 129.7 Other restructuring costs 10.7 - - Divestiture - 2.1 21.3 Goodwill impairment 2,799.2 - - Gain on disposal of Atalla - (3.7 ) - 3,011.6 294.2 538.2 Reported within finance costs: Finance costs incurred in escrow period - - 6.4 Reported within finance income: Finance income earned in escrow period - - (0.6 ) - - 5.8 Exceptional costs before tax 3,011.6 294.2 544.0 Tax: Tax effect of exceptional items (38.7 ) (54.3 ) (105.9 ) Tax exceptional item - - (692.3 ) (38.7 ) (54.3 ) (798.2 ) Reported within profit from discontinued operation (attributable to equity shareholders of the Company): Loss/(gain) on disposal of discontinued operation 32 2.2 (1,458.5 ) - Exceptional costs/(profit) after tax 2,975.1 (1,218.6 ) (254.2 ) 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 $152.6 million for the 12 months ended October 31, 2020 (2019: $245.9 million) reflect the IT design, build and migration onto a single IT platform and a wide range of projects undertaken to conform, simplify and increase efficiency across the business. Integration costs of $279.0 million in the 18 months ended October 31, 2018 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, 2020. Pre-acquisition costs of $43.0 million for the 18 months ended October 31, 2018 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 Acquisition costs of $0.2 million in the 12 months ended October 31, 2020 relate to the acquisition of Atar Labs. The acquisition costs of $1.5 million the 12 months ended October 31, 2019 related to the acquisition of Interset Software Inc (note 33). The acquisition costs in the 18 months ended October 31, 2018 of $27.1 million 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. Property-related costs Property-related costs of $15.2 million for the 12 months ended October 31, 2020 (2019: $16.3 million; 2018: $38.1 million) relate to the impairment or amendment to the impairments of right-of-use assets for empty or sublet properties held by the Group, any related onerous non-rental costs and the cost of site consolidations as the Group simplifies its real estate footprint as a result of the acquisition of HPE Software or other significant restructuring projects. Severance and legal costs Severance and legal costs of $33.7 million for the 12 months ended October 31, 2020 (2019: $32.1 million; 2018: $129.7 million) and relate mostly to termination costs for employees as the Group continues to remove duplication and simplify the continuing operations as a result of the acquisition of HPE Software. Other restructuring costs Other restructuring costs of $10.7 million for the 12 months ended October 31, 2020 (2019: $nil; 2018: $nil) relates to the costs of implementing the initiatives included in the Strategic & Operational Review. Divestiture Divestiture costs of $2.1 million for the 12 months ended October 31, 2019 related mostly to employee activities (2018: $21.3 million) involved in the disposal of the SUSE business completed in 2019. Goodwill impairment A goodwill impairment charge of $2,799.2 million was made in the 12 months ended October 31, 2020 (2019: $nil), see note 10 for additional information. Gain on disposal of Atalla The non-recurring gain on disposal of $3.7 million for the 12 months ended October 31, 2019 (2018: $nil) related to Atalla business disposal. Finance income and finance costs Finance costs of $6.4 million and finance income of $0.6 million for the 18 months ended October 31, 2018 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 or 12 months ended October 31, 2020. Tax effect of exceptional items The tax effect of exceptional items on the income statement is a credit of $38.7 million for the 12 months ended October 31, 2020 (2019: $54.3 million credit; 2018: $798.2 million credit). The exceptional tax credit of $692.3 million in the 18 months ended October 31, 2018 related to the impact of US tax reforms, comprised of a credit of $930.6 million in respect of the re-measurement of deferred tax liabilities and a transition tax charge of $238.3 million payable over eight years. Loss/(gain) on disposal of discontinued operation The loss on the disposal of discontinued operation of $2.2 million (2019: gain $1,458.5 million) in the 12 months ended October 31, 2020 related to conclusion of the working capital settlement on the disposal of the SUSE business and adjustments in respect of income tax balances owed in respect of pre-transaction periods. |
Services provided by the Group'
Services provided by the Group's auditors and network of firms | 12 Months Ended |
Oct. 31, 2020 | |
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, 2020, the Group obtained the following services from the Group’s auditors as detailed below: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Audit of Company 7.2 12.8 12.2 ICOFR audit 2.7 3.0 - Audit of subsidiaries 2.9 3.9 1.9 Total audit 12.8 19.7 14.1 Audit-related assurance services 0.6 0.6 0.9 Other assurance services - - 0.7 Total assurance services 0.6 0.6 1.6 Tax compliance services - - 0.2 Tax advisory services - 0.1 0.2 Services relating to taxation - 0.1 0.4 Other non-audit services - - 0.1 Total 13.4 20.4 16.2 Of the audit-related assurance services engagements undertaken in the 12 months ended October 31, 2020 none (2019: none) were considered to be significant. 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. 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, 2020 | |
Finance income and finance costs [Abstract] | |
Finance income and finance costs | 6 Finance income and finance costs 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Finance costs Interest on bank borrowings 176.1 225.4 276.5 Commitment fees 1.7 1.9 3.3 Amortization of facility costs and original issue discounts 58.0 46.7 60.4 Finance costs on bank borrowings 235.8 274.0 340.2 Net interest expense on retirement obligations 22 1.8 2.4 2.8 Interest on lease liabilities 19 13.2 2.0 2.7 Interest rate swaps: cash flow hedges 23.7 - 3.4 Other 7.1 4.0 1.3 Total 281.6 282.4 350.4 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Finance income Bank interest 2.4 16.3 3.6 Interest on non-plan pension assets 22 0.2 0.3 0.6 Interest rate swaps: cash flow hedges - 9.9 - Other - 0.1 3.5 Total 2.6 26.6 7.7 Net finance cost 279.0 255.8 342.7 Included within exceptional items Finance costs incurred in escrow period - - 6.4 Finance income earned in escrow period - - (0.6 ) - - 5.8 |
Taxation
Taxation | 12 Months Ended |
Oct. 31, 2020 | |
Taxation [Abstract] | |
Taxation | 7 Taxation A Taxation in the Consolidated statement of comprehensive income 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Current tax Current year 175.4 163.9 245.8 Adjustments to tax in respect of previous periods 7.8 (35.3 ) (14.7 ) 183.2 128.6 231.1 Deferred tax Origination and reversal of temporary differences (195.3 ) (139.7 ) 26.4 Adjustments to tax in respect of previous periods 10.7 24.5 1.2 Previously unrecognized temporary differences - (29.4 ) - Impact of changes in tax rates 35.6 - (931.8 ) (149.0 ) (144.6 ) (904.2 ) Total tax charge/(credit) 34.2 (16.0 ) (673.1 ) For the 12 months ended October 31, 2020, a deferred tax charge of $1.5 million (2019: $7.6 million debit; 18 months ended October 31, 2018: $23.7 million debit) and $0.1 million current tax credit (2019: $13.1 million credit; 18 months ended October 31, 2018: $4.1 million credit) have been recognized in equity in relation to share options. A deferred tax credit of $1.8 million has been booked on initial adoption of IFRS 16 “Leases” in retained earnings. A current tax credit of $7.8 million (2019: $23.3 million credit; 18 months ended October 31, 2018: $16.4 million debit) has been recognized in the hedging reserve (note 27). There is also a deferred tax credit of $11.1 million in relation to the currency translation differences. In addition, a deferred tax charge of $5.0 million (2019: $13.0 million credit; 18 months ended October 31, 2018: $4.3 million credit) has been recognized in the Consolidated statement of comprehensive income in relation to defined benefit pension schemes and a deferred tax charge of $8.7 million (2019: $14.0 million; 18 months ended October 31, 2018: $nil) in relation to foreign exchange movements on intangibles. The tax charge for the 12 months ended October 31, 2020 is higher than the standard rate of corporation tax in the UK of 19.00% (12 months ended October 31, 2019: 19.00%; 18 months ended October 31, 2018: 19.00%). The differences are explained below: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m (Loss)/profit before taxation (2,940.4 ) (34.1 ) 34.1 Tax at UK corporation tax rate 19.00% (2019: 19.00% , 2018: 19.00%) (558.7 ) (6.5 ) 6.5 Effects of: Tax rates other than the UK standard rate (78.0 ) (4.4 ) 17.8 Intra-Group financing (21.0 ) (42.8 ) (52.5 ) Innovation tax credit benefits (31.8 ) (13.5 ) (21.4 ) Interest restrictions - - 31.8 US foreign inclusion income 20.4 43.7 39.0 Share options 4.1 7.1 10.2 US transition tax - - 238.3 Movement in deferred tax not recognized 11.1 14.4 7.3 Previously unrecognized temporary differences - (29.4 ) - Impact of rate changes 35.6 - (931.9 ) Goodwill impairment 592.8 - - Expenses not deductible and other permanent differences 41.2 26.2 (4.7 ) 15.7 (5.2 ) (659.6 ) Adjustments to tax in respect of previous periods: Current tax 7.8 (35.3 ) (14.7 ) Deferred tax 10.7 24.5 1.2 18.5 (10.8 ) (13.5 ) Total taxation 34.2 (16.0 ) (673.1 ) A change to the main UK corporation tax rate, announced in the Budget on March 11, 2020, was substantively enacted for IFRS purposes on March 17, 2020. Hence, the rate applicable from April 1, 2020 now remains at 19% rather than the previously enacted reduction to 17%. The Group has remeasured its UK deferred tax assets and liabilities at the end of the reporting period at the rate of 19%. The impact of this and other changes in rate across the Group has resulted in the recognition of a deferred tax credit of $35.6 million in the income statement. 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, 2020 being $31.8 million (2019: $13.5 million; 18 months ended October 31, 2018: $21.4 million). The Group realized benefits in relation to intra-Group financing of $21.0 million for the 12 months ended October 31, 2020 (2019: $42.8.million; the 18 months ended October 31, 2018: $52.5 million). The benefits mostly relate to arrangements put in place to facilitate the acquisition of the HPE Software business. US foreign inclusion income of $20.4 million arising in the 12 months ended October 31, 2020 (2019: $43.7 million; 18 months ended October 31, 2018: $39.0 million) 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. The expenses not deductible and other permanent differences charge of $41.2 million (2019: $26.2 million charge; 18 months ended October 31, 2018: $4.8 million credit) included $4.6 million in relation to uncertain tax positions and $6.5 million related to irrecoverable withholding tax. The Group realized a net charge in relation to the true-up of prior period, current and deferred tax estimates of $18.5 million for the 12 months ended October 31, 2020 (2019: $10.8 million credit; 18 months ended October 31, 2018: $13.5 million). 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 changes President Biden will seek to introduce and global tax reform as governments respond to COVID-19, 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 and on February 5, 2021, State Aid charging notices (excluding interest) were received from HM Revenue and Customs totaling $45.2 million. In addition, there has been a challenge from the UK Tax Authorities into the historic financing arrangements of the Group. Based on its current assessment and supported by external professional advice, the Group consider that the maximum liability of both of these items to be $60 million. Based on its current assessment and also supported by external professional advice, the Group believes that no provision is required in respect of these issues. No additional liability should accrue in future periods in respect of these matters, following (i) an amendment of the UK legislation affected by the EU Commission finding on January 1, 2019, to be compliant with EU law, and (ii) the unwind of the financing company arrangements in question. B Current tax receivables October 31, 2020 October 31, 2019 $m $m Corporation tax 45.3 40.1 The current tax receivable at October 31, 2020 is $45.3 million (2019: $40.1 million). C Current tax liabilities October 31, 2020 October 31, 2019 $m $m Corporation tax 150.1 104.0 The current tax creditor at October 31, 2020 is $150.1 million (2019: $104.0 million). The current tax creditor includes liabilities in respect of uncertain tax positions, net of overpayments. Within current tax liabilities is $84.8 million (2019: $78.3 million) in respect of the Group income tax reserve, the majority of which relates to the risk of challenge from the local tax authorities. Aside from the impact of any change in judgement as the State Aid and UK tax authority challenges progress, which is discussed above, 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. D Non-current tax liabilities October 31, 2020 October 31, 2019 $m $m Corporation tax 102.7 119.7 The non-current tax creditor is $102.7 million (2019: $119.7 million). The non-current creditor reflects the US transition tax payable more than 12 months after the balance sheet date. E Deferred tax 12 months ended October 31, 2020 12 months ended October 31, 2019 Net Deferred tax liability Note $m $m At November 1 (987.1 ) (1,170.5 ) Credited to consolidated statement of comprehensive income: 147.9 188.7 - Continuing operations 7A 149.0 156.4 - Discontinued operation (1.1 ) 32.3 Debited directly to equity in relation to share options (1.5 ) (7.6 ) (Debited)/credited to other comprehensive income: (2.5 ) 27.0 Impact of adoption of IFRS 9 - 4.4 Impact of adoption of IFRS 15 - (17.3 ) Impact of adoption of IFRS 16 1.8 - Foreign exchange adjustment 0.3 (11.8 ) At October 31 (841.1 ) (987.1 ) 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 Tax credits Intangible fixed Other temporary differences Research and Development Total $m $m $m $m $m $m $m $m At November 1, 2019 100.5 5.0 108.6 6.8 - 88.6 - 309.5 Transferred from deferred tax liabilities - - - - - - 13.6 13.6 Credited/(charged) to consolidated statement of comprehensive income – continuing operations 33.0 (2.7 ) (18.1 ) 9.5 0.2 (24.4 ) 72.9 70.4 Credited to consolidated statement of comprehensive income – discontinued operation - - - - - (1.1 ) - (1.1 ) Credited directly to equity - (1.5 ) - - - - - (1.5 ) Debited to other comprehensive income - - - - - 6.2 - 6.2 Foreign exchange adjustment - - - - (0.2 ) 0.4 - 0.2 Subtotal 133.5 0.8 90.5 16.3 - 69.7 86.5 397.3 Jurisdictional offsetting (397.3 ) At October 31, 2020 - 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 Credited/(charged) 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 $1.5 million (2019: $7.6 million) 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, 2020. The deferred tax asset relating to other temporary differences of $69.7 million as at October 31, 2020 (2019: $88.6 million) has decreased during the year primarily due to the reversal of various short-term temporary timing differences. 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. Deferred tax assets 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: 2021 2022 2023 2024 2025 Thereafter No expiry Total $m $m $m $m $m $m $m $m At October 31, 2020 Type of temporary difference: Losses 5.0 11.9 23.7 43.4 13.3 2,226.7 50.7 2,374.7 Credits 3.5 3.1 1.8 1.4 0.7 5.5 45.4 61.4 Other - - - - - 88.4 23.9 112.3 Total 8.5 15.0 25.5 44.8 14.0 2,320.6 120.0 2,548.4 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 Deferred tax liabilities Intangible fixed assets Research and development Other temporary differences Total $m $m $m $m At November 1, 2019 (1,257.1 ) 13.6 (53.1 ) (1,296.6 ) Transferred to deferred tax assets - (13.6 ) - (13.6 ) Charged to Consolidated statement of comprehensive income – continuing operations 85.4 - (6.8 ) 78.6 Credited to other comprehensive income – continuing operations (8.7 ) - - (8.7 ) Credited to equity - impact of adoption of IFRS 16 - - 1.8 1.8 Foreign exchange adjustment (0.1 ) - 0.2 0.1 Subtotal (1,180.5 ) - (57.9 ) (1,238.4 ) Jurisdictional offsetting 397.3 At October 31, 2020 (841.1 ) 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 IFRS 15 - (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 and branches 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. |
Dividends
Dividends | 12 Months Ended |
Oct. 31, 2020 | |
Dividends [Abstract] | |
Dividends | 8 Dividends 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Equity - ordinary $m $m $m Final paid nil cents (2019: 58.33 cents, 2018: 58.33 cents) per ordinary share - 240.7 133.9 First Interim paid nil cents (2019: 58.33 cents, 2018: 34.60 cents) per ordinary share - 198.5 156.2 Second Interim paid nil cents (2019: nil cents, 2018: 58.33 cents) per ordinary share - - 252.1 - 439.2 542.2 On March 18, 2020, given the increased macro-economic uncertainty as a result of the COVID-19 pandemic, as a precautionary measure, the directors withdrew their recommendation for the payment of a final dividend of 58.33 cents per share in respect of the 12 months ended October 31, 2019. Similarly, no dividend was paid in respect of the six months to April 30, 2020. The directors announced a final dividend of 15.5 cents per share payable on April 15, 2021 to shareholders who are registered at March 12, 2021. This final dividend, amounting to $51.9 milion, has not been recognized as a liability as at October 31, 2020. |
Earnings per share
Earnings per share | 12 Months Ended |
Oct. 31, 2020 | |
Earnings per share [Abstract] | |
Earnings per share | 9 Earnings per share The calculation of the basic earnings per share has been based on the earnings attributable to owners of the parent and the weighted average number of shares for each period. Reconciliation of the earnings and weighted average number of shares: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Earnings ($m) (Loss)/profit for the period from continuing operations (2,974.6 ) (18.1 ) 707.2 Profit for the period from discontinued operation 5.1 1,487.2 76.9 (2,969.5 ) 1,469.1 784.1 Number of shares (m) Weighted average number of shares 335.7 378.1 388.7 Dilutive effects of shares - 4.1 11.0 335.7 382.2 399.7 Earnings per share Basic earnings per share (cents) Continuing operations (886.15 ) (4.87 ) 181.91 Discontinued operation 1.52 393.37 19.79 Total Basic earnings per share (884.63 ) 388.50 201.70 Diluted earnings per share (cents) Continuing operations 1 (886.15 ) (4.87 ) 176.92 Discontinued operation 1.52 389.16 19.25 Total Diluted earnings per share 1 (884.63 ) 384.35 196.17 Basic earnings per share (pence) Continuing operations (693.45 ) (3.82 ) 136.73 Discontinued operation 1.19 308.89 14.88 Total Basic earnings per share (692.26 ) 305.07 151.61 Diluted earnings per share (pence) Continuing operations 1 (693.45 ) (3.82 ) 132.98 Discontinued operation 1.19 305.59 14.47 Total Diluted earnings per share 1 (692.26 ) 301.81 147.45 Earnings attributable to ordinary shareholders From continuing operations (2,974.6 ) (18.1 ) 707.2 Excluding non-controlling interests - (0.3 ) (0.1 ) (Loss)/profit for the period from continuing operations (2,974.6 ) (18.4 ) 707.1 From discontinued operation 5.1 1,487.2 76.9 (2,969.5 ) 1,468.8 784.0 Average exchange rate $1.28/1 $1.27/1 $1.33/1 1 The weighted average number of shares excludes treasury shares that do not have dividend rights (note 25). |
Goodwill
Goodwill | 12 Months Ended |
Oct. 31, 2020 | |
Goodwill [Abstract] | |
Goodwill | 10 Goodwill October 31, 2020 October 31, 2019 Note $m $m Cost At November 1 6,671.3 6,805.0 Acquisitions 33 1.4 26.8 Effects of movements in exchange rates (38.1 ) (160.5 ) At October 31 6,634.6 6,671.3 Impairment losses At November 1 - - Impairment charge for the period (2,799.2 ) - At October 31 (2,799.2 ) - Net book value 3,835.4 6,671.3 A segment-level summary of the goodwill allocation is presented below: Micro Focus 3,835.4 6,671.3 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, 2020, related to the acquisition of Atar Labs of $1.4 million (note 33) 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 addition to goodwill, all amounts are expected to be deductible for tax purposes. The goodwill arising in the 12 months ended October 31, 2019, related to the acquisition of Interset Software Inc. of $26.8 million (note 33), 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 addition to goodwill, all amounts are expected to be deductible for tax purposes. Impairment test Impairment of goodwill is tested annually, or more frequently where there is an 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’s annual test is performed at October 31. It was determined that the adverse impact of COVID-19 on the global economy and the challenging trading environment that is likely to result from this was an indicator of potential impairment as at April 30, 2020. Therefore, an additional impairment test was performed at this date. As a result, for the six months ended April 30, 2020, the Group recorded an impairment charge of $0.9 billion (2019: $nil). The impairment charge related solely to goodwill and was recognized in administrative expenses as an exceptional cost in the Consolidated Statement of Comprehensive Income. The Group then performed the impairment test at October 31, 2020 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. An additional impairment charge of $1.9 billion has been recognized resulting from the year end impairment test. The total impairment charge recorded in the 12 months ended October 31, 2020 was $2.8 billion and has been recognized in administrative expenses as an exceptional cost in the Consolidated Statement of Comprehensive Income. The recoverable amount of the Micro Focus CGU is $9.3 billion, based on value in use calculations. The impairment charge relates solely to goodwill. 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 five years. 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. 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 until the cash flow is incurred. Therefore, the VIU calculation excludes the cash outflows and resulting cash inflow arising from certain investment decisions made in the Strategic Review which are included within the board approved forecasts. In addition, the VIU calculation excludes the cost saving impacts, which are included in the board approved forecasts, resulting from restructuring activities which have not commenced. The impairment charge recognized in the Micro Focus CGU primarily reflects our trading performance and the macro-economic environment when compared to the original projections produced at the time of the HPE Software acquisition, which was exacerbated by the impacts of the COVID-19 pandemic. Our assumption of a moderation in the revenue decline and delivery of flat to low single digit growth from the Strategic & Operational Review of February 2020 remains valid in the board approved five year forecasts; although as the VIU calculation excludes the cash inflows resulting from a number of the investment decisions made in the Strategic review the VIU calculation has a delay in the achievement of flat growth versus the board approved five year forecasts. Therefore as disclosed below, over the five year forecast period, this has resulted in a reduction in the range of average annual revenue growth rates by product group. Key assumptions Key assumptions in the VIU are considered to be the discount rate, average 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 average annual revenue growth rate by product group, long-term cash flow growth rate and discount rate used in the VIU calculation are: October 31, 2020 October 31, 2019 Long-term cash flow growth rate for terminal value 1.0 % 1.0 % Pre-tax discount rate 1 10.9 % 10.3 % Average annual revenue growth rate by product group 2 (8.1)% to 2.2% (2.4)% to 0.8% 1 2 Sensitivity analysis In undertaking this analysis, the directors have considered reasonably possible changes in the key assumptions, 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 as shown by our responses to the COVID-19 pandemic where margins have been largely maintained during the year. The sensitivities are prepared on the basis that the reasonably possible change in each key assumption would not have a consequential impact on other key assumptions used in the impairment review and therefore leave all other assumptions unchanged. The headroom and impairments disclosed below are on the VIU calculation, which, as explained above, excludes the cash inflow and outflow assumptions arising from the investment decisions made in the Strategic Review where these have not been fully implemented. The directors considered whether the range of reasonably possible changes in key assumptions should be widened as a result of the increased uncertainty resulting from the COVID-19 outbreak. However, the directors concluded this was unnecessary as the assumptions are either long-term (i.e. five year revenue growth and long term-growth) and therefore exceed the period expected to be impacted by COVID-19 or in the case of the discount rate, have not seen significant volatility due to COVID-19. The directors have assessed that a reasonably possible change in the discount rate is an absolute movement of 1.0% (2019: 2.0%). The directors have considered the sensitivity of the discount rate in light of the impact of the significant economic uncertainty resulting from COVID-19 has had on the financial inputs used in determining the discount rate and have concluded that reducing the reasonably possible change from 2% to 1% is appropriate in light of the limited volatility seen since 2018. An increase in the discount rate of 1% to 11.9% would increase the impairment recognized at October 31, 2020 by $0.8 billion. A decrease in the discount rate of 1% to 9.9% would decrease the impairment recognized at October 31, 2020 by $1.0 billion. The directors have assessed that a reasonably possible change in the average annual revenue growth rate by product group is an absolute reduction of 2.0%. A decrease in the average annual revenue growth rate by product group of 2% would increase the impairment recognized at October 31, 2020 by $2.0 billion. 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 be partially offset such a reduction in cash flows. The directors have assessed that a reasonably possible change in the long-term growth rate is an increase or decrease of 0.5% to 1.5% or 0.5% respectively (2019: not reasonably possible). An increase of 0.5% would decrease the impairment recognized at October 31, 2020 by $0.3 billion. A decrease of 0.5% would increase the impairment recognized at October 31, 2020 by $0.3 billion. |
Other intangible assets
Other intangible assets | 12 Months Ended |
Oct. 31, 2020 | |
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 October 31, 2019 146.7 257.0 2,178.6 267.3 5,323.3 14.9 8,187.8 Transfers to right-of-use assets 1 - - - - - (14.9 ) (14.9 ) At November 1, 2019 146.7 257.0 2,178.6 267.3 5,323.3 - 8,172.9 Acquisitions – Atar Labs 33 - - 6.6 - - - 6.6 Additions 55.5 16.2 - - - - 71.7 Additions – external consultants - 0.8 - - - - 0.8 Disposals (11.2 ) - - - - - (11.2 ) Effects of movements in exchange rates 0.5 - 16.0 1.9 40.7 - 59.1 At October 31, 2020 191.5 274.0 2,201.2 269.2 5,364.0 - 8,299.9 Accumulated amortization At October 31, 2019 76.9 214.3 668.9 68.0 1,204.3 13.1 2,245.5 Transfers to right-of-use assets 1 - - - - - (13.1 ) (13.1 ) At November 1, 2019 76.9 214.3 668.9 68.0 1,204.3 - 2,232.4 Amortization charge for the period 46.5 23.5 190.2 19.1 394.8 - 674.1 Disposals (10.6 ) - - - - - (10.6 ) Effects of movements in exchange rates 0.7 0.1 6.6 0.8 12.8 - 21.0 At October 31, 2020 113.5 237.9 865.7 87.9 1,611.9 - 2,916.9 Net book amount at October 31, 2020 78.0 36.1 1,335.5 181.3 3,752.1 - 5,383.0 Net book amount at October 31, 2019 69.8 42.7 1,509.7 199.3 4,119.0 1.8 5,942.3 1 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 33 - - 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 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. Expenditure totaling $72.5 million (2019: $29.3 million) was made in the 12 months ended October 31, 2020, including $17.0 million in respect of development costs and $55.5 million of purchased software primarily related to the development of the Group’s single IT platform. The acquisition of Atar Labs in the 12 months ended October 31, 2020 gave rise to an addition of $6.6 million to purchased intangibles (note 33). The acquisition of Interset Software Inc. in the 12 months ended October 31, 2019 gave rise to an addition of $61.2 million to purchased intangibles (note 33). Of the $17.0 million of additions to product development costs, $16.2 million (2019: $16.5m) relates to internal product development costs and $0.8 million (2019: $0.5 million) to external consultants’ product development costs. At October 31, 2020, the unamortized lives of technology assets were in the range of two to nine years, customer relationships in the range of one to 12 years and trade names in the range of four to 16 years. The HPE Software business acquired purchased intangibles, the largest component of the Group, have another nine years life remaining for technology (carrying value $1.2 billion) and up to 12 years’ life remaining for customer relationships purchased intangibles (carrying value $3.5 billion). Included in the consolidated statement of comprehensive income was: 12 months ended October 31, 2020 12 months ended October 31, 2019 For continuing operations: $m $m Cost of sales: - amortization of product development costs 23.5 26.7 - amortization of acquired purchased technology 190.2 200.1 Selling and distribution: - amortization of acquired purchased trade names and customer relationships (2019: amortization of acquired purchased trade names, customer relationships and lease contracts) 413.9 455.6 Administrative expenses: - amortization of purchased software 46.5 34.1 Total amortization charge for the period 674.1 716.5 Research and development: - capitalization of product development costs 16.2 16.5 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Oct. 31, 2020 | |
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 $m $m $m $m $m Cost At October 31, 2019 14.0 113.5 144.4 13.2 285.1 Transfers to right-of-use assets 1 - (9.8 ) (50.6 ) - (60.4 ) At November 1, 2019 14.0 103.7 93.8 13.2 224.7 Additions - 4.8 28.4 2.9 36.1 Other 2 - (9.8 ) - - (9.8 ) Disposals - (15.3 ) (14.1 ) (8.5 ) (37.9 ) Effects of movements in exchange rates - 0.2 (0.2 ) 0.2 0.2 At October 31, 2020 14.0 83.6 107.9 7.8 213.3 Accumulated depreciation At October 31, 2019 2.2 51.7 85.1 5.6 144.6 Transfers to right-of-use assets 1 - (5.2 ) (29.7 ) - (34.9 ) At November 1, 2019 2.2 46.5 55.4 5.6 109.7 Disposals - (11.0 ) (13.5 ) (7.8 ) (32.3 ) Charge for the period 0.3 11.9 27.6 2.2 42.0 Effects of movements in exchange rates - (0.1 ) - 0.3 0.2 At October 31, 2020 2.5 47.3 69.5 0.3 119.6 Net book amount at October 31, 2020 11.5 36.3 38.4 7.5 93.7 Net book amount at October 31, 2019 11.8 61.8 59.3 7.6 140.5 Transfers to right-of-use assets 1 - (4.6 ) (20.9 ) - (25.5 ) Net book amount at November 1, 2019 11.8 57.2 38.4 7.6 115.0 1 2 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. 33 - - 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 Depreciation for the 12 months ended October 31, 2020 of $42.0 million (2019: $66.5 million, including $13.9 million of right-of-use asset depreciation) is included within administrative expenses and cost of sales in the Consolidated statement of comprehensive income. |
Other non-current assets
Other non-current assets | 12 Months Ended |
Oct. 31, 2020 | |
Other non-current assets [Abstract] | |
Other non-current assets | 13 Other non-current assets October 31, 2020 October 31, 2019 $m $m Employee benefit deposit 17.9 33.4 Long-term rent deposits 5.3 4.9 Long-term prepaid expenses 2.3 4.5 Net investment in finance sub-leases 5.5 - Other 0.8 1.2 31.8 44.0 Employee benefit deposits are held in Israel ($12.8 million), Italy ($2.4 million) and the Netherlands ($2.7 million) (2019: Germany $16.4 million, Israel $11.9 million, Italy $2.4 million, and the Netherlands $2.7 million). Employers in 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. Certain employee benefit liabilities in Germany and the related benefit deposits were transferred to defined benefit obligations in the year (note 22). |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Oct. 31, 2020 | |
Trade and other receivables [Abstract] | |
Trade and other receivables | 14 Trade and other receivables October 31, 2020 October 31, 2019 $m $m Trade receivables 628.4 877.9 Loss allowance (17.9 ) (42.4 ) Trade receivables net 610.5 835.5 Prepayments 49.1 53.9 Other receivables 38.1 87.2 Contract assets 33.7 56.3 731.4 1,032.9 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. Other than ageing (included below), no other credit rating grades are assessed. 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, 2020 and October 31, 2019, the carrying amount approximates the fair value of the instrument due to the short-term nature of the instrument. As at October 31, 2020, a loss allowance of $17.9 million (2019: $42.4 million) was recognized for trade receivables. The ageing of these receivables is as follows: Current Up to three months Three to four months Over four months Total $m $m $m $m $m October 31, 2020: Gross trade receivables 561.4 42.3 4.3 20.4 628.4 Loss allowance (6.1 ) (0.9 ) (0.4 ) (10.5 ) (17.9 ) Net trade receivables 555.3 41.4 3.9 9.9 610.5 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 Movements in the Group provision for impairment of trade receivables were as follows: October 31, 2020 October 31, 2019 $m $m At November 1 (calculated under IAS 39) 42.4 41.9 Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) - 20.0 Revised November 1 42.4 61.9 Loss allowance (releases)/provided in the year (4.8 ) 16.0 Receivables written off as uncollectable (19.7 ) (35.5 ) At October 31 17.9 42.4 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 under IFRS 9. Contract assets relate to amounts not yet billed and so not yet due from customers and which are expected to be invoiced to customers. The movement in contract assets in the year is primarily the result of the billing of one contract for $20 million on which revenue had been recognized in the 12 months ended October 31, 2019 but invoicing occurred in the 12 months ended October 31, 2020. Excluding this contract, the level of new contract assets that have arisen during the year is consistent with the level of billings on existing contract assets. The Group considers the credit quality of contract assets on a customer-by-customer basis. As with trade receivables, which contract assets convert to upon invoicing, there is considered to be a low risk of default due to the high number of recurring customers. In determining the recoverability of a contract asset, the Group considers the specific circumstances of each contract asset and any change in the circumstances of the balance. Due to this management believes significant provision is not required. |
Contract-related costs
Contract-related costs | 12 Months Ended |
Oct. 31, 2020 | |
Contract-related costs [Abstract] | |
Contract-related costs | 15 Contract-related costs October 31, 2020 October 31, 2019 $m $m Current 27.9 19.3 Non-current 35.7 31.5 63.6 50.8 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. All amounts capitalized relate to commission costs. 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. The amortization expenses in the year for the costs of obtaining customer contracts were $16.1 million (2019: $10.2 million). 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, 2020 October 31, 2019 $m $m Asset recognized from costs incurred to acquire a contract 29.1 31.4 Amortization and impairment loss recognized as cost of providing services during the year (16.1 ) (10.2 ) |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Oct. 31, 2020 | |
Cash and cash equivalents [Abstract] | |
Cash and cash equivalents | 16 Cash and cash equivalents October 31, 2020 October 31, 2019 $m $m Cash at bank and in hand 374.3 292.2 Short-term bank deposits 362.9 63.5 Cash and cash equivalents 737.2 355.7 At October 31, 2020 and October 31, 2019, 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 generally high credit ratings. The credit quality of cash and cash equivalents is as follows: October 31, 2020 October 31, 2019 $m $m S&P/Moody’s/Fitch rating: AAA 358.4 69.8 AA- 27.2 87.6 A+ 318.6 144.4 A 9.9 23.4 A- 9.1 14.4 BBB+ 2.4 1.7 BBB 2.7 4.5 BBB- 0.4 0.8 BB+ 0.6 0.8 BB 1.1 0.3 BB- 4.3 6.3 B+ 0.2 0.2 CCC+ 1.1 - C- 1.2 - Not Rated - 1.5 737.2 355.7 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, 2020 | |
Trade and other payables - current [Abstract] | |
Trade and other payables - current | 17 Trade and other payables – current October 31, 2020 October 31, 2019 $m $m Trade payables 71.5 105.0 Trade and social security 84.3 80.7 Accruals 347.7 425.3 503.5 611.0 At October 31, 2020 and at October 31, 2019, the carrying amount approximates to the fair value. At October 31, 2020 accruals include vacation and payroll – $82.8 million (2019: $88.4 million), commission and employee bonuses - $90.5 million (2019: $74.9 million), integration and divestiture expenses - $30.1 million (2019: $26.4 million) and consulting and audit fees - $23.8 million (2019: $36.9 million). |
Borrowings
Borrowings | 12 Months Ended |
Oct. 31, 2020 | |
Borrowings [Abstract] | |
Borrowings | 18 Borrowings October 31, 2020 October 31, 2019 $ $ Bank loan secured 4,733.2 4,775.0 Unamortized prepaid facility arrangement fees and original issue discounts (92.9 ) (104.3 ) Carrying value 4,640.3 4,670.7 October 31, 2020 October 31, 2019 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 T Reported within: $ $ $ $ $ $ Current liabilities 34.2 (12.8 ) 21.4 - - - Non-current liabilities 4,699.0 (80.1 ) 4,618.9 4,775.0 (104.3 ) 4,670.7 4,733.2 (92.9 ) 4,640.3 4,775.0 (104.3 ) 4,670.7 The carrying value for 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. The remaining unamortized fees of $92.9 million have a remaining period of amortization of three years. Long-term borrowings with a drawn value of $4,733.2 million before unamortized prepaid facility fees, have a fair value estimate of $4,535.1 million based on trading prices as at October 31, 2020 (2019: $4,686.0 million). Short-term borrowing of $34.2 million represents capital repayments falling due on the group borrowings within the one year less unamortized prepaid facility arrangement fees and original issue discounts of $12.8 million. On May 29, 2020, the Group announced that it had successfully priced and allocated a €600.0 million and a $650 million senior secured term loan. The new five-year facilities, along with $143.0 million of existing cash reserves, were used by the Group to fully refinance its existing senior secured term loan B due November 2021 and pay associated fees and expenses. Prepaid facility fees of $12.2 million, which were still to be amortized, in relation to the senior secured term loan B due November 2021 were fully expensed in June 2020 with the cost recorded within finance costs in the Consolidated statement of comprehensive income. Fees of $44.0 million relating to the new senior secured term loans were capitalized in June 2020. On September 3, 2020, the Group announced that it had successfully extended its revolving credit facility and reduced the size from $500.0 million to $350.0 million. The Group also confirmed that it had repaid the $175.0 million previously drawn during the year as a precautionary measure in response to the COVID-19 outbreak, resulting in a balance outstanding of $nil. These actions resulted in a reduction in the Group’s gross debt and the borrowing costs associated with the revolving credit facility. The remaining prepaid facility fees of $4.5 million to be amortized were expensed in the period and new fees of $1.8 million were capitalized for the new arrangement. Following these refinancing activities, the Group’s earliest debt maturity is in June 2024. The following facilities were drawn as at October 31, 2020: • The €600 million (equivalent to $700.3 million) senior secured five-year term loan B-1 issued by MA FinanceCo., LLC, maturing in June 2025, is priced at EURIBOR plus 4.5% (subject to a EURIBOR floor of 0.00%) with an original issue discount of 3.0%; • The $368.2 million senior secured seven-year term loan B-3 issued by MA FinanceCo., LLC, maturing in June 2024, is priced at LIBOR plus 2.75% (subject to a LIBOR floor of 0.00%) with an original issue discount of 0.25%; • The $650.0 million senior secured five-year term loan B-4 issued by MA FinanceCo., LLC, maturing in June 2025, is priced at LIBOR plus 4.25% (subject to a LIBOR floor of 1.00%) with an original issue discount of 2.5%; • The $2,486.3 million senior secured seven-year term loan B issued by Seattle SpinCo, Inc. , maturing in June 2024, is priced at LIBOR plus 2.75% (subject to a LIBOR floor of 0.00%) with an original issue discount of 0.25%; and • The €452.8 million (equivalent to $528.4 million) senior secured seven-year term loan B issued by MA FinanceCo., LLC, maturing in June 2024, is priced at EURIBOR plus 3.00% (subject to a EURIBOR floor of 0.00%) with an original issue discount of 0.25%. The following facilities were undrawn at October 31, 2020: • A senior secured revolving credit facility of $350.0 million ($nil drawn), (“Revolving Facility”), with an interest rate of 3.50% above LIBOR on amounts drawn (and 0.5% on amounts undrawn) thereunder (subject to a LIBOR floor of 0.00%). At October 31, 2020, $nil of the Revolving Facility was drawn (October 31, 2019: $nil), together with $4,733.2 million of term loans giving gross debt of $4,733.2 million drawn. There are no financial covenants on the Group’s term loan borrowing facilities. The Revolving Facility is subject to a single financial covenant, being an aggregate net leverage covenant only in circumstances where more than 35% of the Revolving Facility is outstanding at a fiscal quarter end. Throughout the year the applicable covenant threshold was 4.35x, however no test was applicable at October 31, 2020 or any previous test date, as the facility was not drawn in excess of the 35% threshold. This covenant is not expected to inhibit the Group’s future operations or funding plans. The Group’s borrowing arrangements include annual repayments of 1% of the initial par value for the B-3, Seattle Spinco and Euro term B loans and 2.5% of the initial par value for the B-1 and B4 loans with the amount paid in four equal quarterly instalments and then a final balloon payment on maturity. In addition, the borrowing arrangements require additional debt repayments where the Group’s net leverage exceeds 3.00x, when 25% of excess cash flow for the prior year is required to be paid, and 3.30x, when 50% of excess cash flow for the prior year is required to be paid. The movements on the Group loans in the year were as follows: term loan B-1 EUR term loan B-2 USD term loan B-3 USD term loan B-4 USD Seattle Spinco term loan B Euro term loan B Revolving Facility Total $ $ $ $ $ $ $ $ At November 1, 2018 - 1,503.8 382.1 - 2,580.5 530.5 - 4,996.9 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 At November 1, 2019 - 1,414.7 368.2 - 2,486.3 505.8 - 4,775.0 Draw downs 665.8 - - 650.0 - - 175.0 1,490.8 Repayments - (1,414.7 ) - - - - (175.0 ) (1,589.7 ) Foreign exchange 34.5 - - - - 22.6 - 57.1 At October 31, 2020 700.3 - 368.2 650.0 2,486.3 528.4 - 4,733.2 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, 2020: term loan B-1 EUR term loan B-3 USD term loan B-4 USD Seattle Spinco term loan B Euro term loan B Revolving Facility Total $ $ $ $ $ $ $ Within one year 49.0 11.0 50.3 74.6 16.9 1.8 203.6 In one to two years 52.6 12.4 53.5 82.7 21.5 1.5 224.2 In two to three years 47.4 14.6 48.6 98.4 21.3 - 230.3 In three to four years 46.6 369.7 47.8 2,496.5 527.1 - 3,487.7 In four to five years 642.8 - 599.2 - - - 1,242.0 At October 31, 2020 838.4 407.7 799.4 2,752.2 586.8 3.3 5,387.8 Less than 1 year 1-3 years 3-5 years Total $m $m $m $m Debt principal repayment 34.2 128.2 4,570.8 4,733.2 Interest payment on debt 169.4 326.3 158.9 654.6 At October 31, 2020 203.6 454.5 4,729.7 5,387.8 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 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 Total $m $m $m $m Debt principal repayment - 1,431.7 3,343.3 4,775.0 Interest payment on debt 209.2 360.8 235.5 805.5 At October 31, 2019 209.2 1,792.5 3,578.8 5,580.5 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. |
Leases
Leases | 12 Months Ended |
Oct. 31, 2020 | |
Leases [Abstract] | |
Leases | 19 Leases As disclosed in I “Significant Accounting policies”, W “Adoption of new and revised International Financial Reporting Standards” the Group applied IFRS 16 “Leases” using the modified retrospective approach and therefore comparative information has not been restated and continues to be reported under IAS 17 and IFRIC 14. The details of accounting policies under IAS 17 and IFRIC 4 are disclosed alongside the IFRS 16 in I “Significant Accounting policies”, R “Leases”; key differences between IFRS 16 and IAS 17 and IFRIC 4 are described in I “Significant Accounting policies”, W “Adoption of new and revised International Financial Reporting Standards”. The Group enters into leasing arrangements in the normal course of its business including: • Office space (included in “Leasehold land and buildings”); • Data centers (included in “Leasehold land and buildings”); • Vehicles (included in “Other”); and • Computer equipment. The Group’s lease arrangements can contain a number of features including some or all of: • Extension and break options; • Variable lease payments; • Annual or periodic set rental increases; and • Indexed or market-based rental increases. Consistent with the requirements of IFRS, 16 extension options are only included in the lease liability where they are considered reasonably certain, see below, and only fixed rental increases are included in the lease liability. Indexed or market based rental increases are only included in the lease liability once the indexation or rent review date has passed. Variable lease payments are expensed as incurred. 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 $8.4 million. Since March 1, 2019, part of the property has been sublet. Current annual sub-lease income is $1.1 million. The other property is located in Santa Clara, California, where the Group currently leases 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 $4.7 million. The Group is currently not utilizing one floor of this facility and the related right-of-use assets has been tested for impairment with a partial impairment recorded. Right-of-use assets During the year the Group entered into new leasing arrangements, extended existing leasing agreements and was party to rent reviews and therefore recognized additions to right-of-use assets of $42.0 million. Leasehold land and buildings Computer equipment Other Total $m $m $m $m Net book value at October 31, 2020 180.1 20.4 6.7 207.2 Net book value at November 1, 2019 223.6 20.8 9.0 253.4 Depreciation charge for the 12 months ended October 31, 2020 60.3 11.2 5.4 76.9 Amounts recognized in the statement of comprehensive income: 12 months ended October 31, 2020 12 months ended October 31, 2019 Under IFRS 16 Under IAS 17 Note $m $m Under IFRS 16: Interest on lease liabilities 6 13.2 - Depreciation of right-of-use assets 76.9 - Impairment of right-of-use assets* 5.9 - Income from sub-leasing right-of-use assets 0.4 - Under IAS 17: Interest on lease liabilities 6 - 2.0 Depreciation of lease assets - 13.9 Lease expense - 65.9 Income from sub-leasing right-of-use assets - 1.0 * The Group assessed right-of-use assets for indicators of impairment during the year in particular leases, which have become vacant or part vacant or changes in sub-lease expectations on existing vacant properties. As a result, an additional impairment of $5.9 million was recognized in the year. The impairment against the right-of-use asset carrying value reflects any expected sub lease-income over the remainder of the lease. Amounts recognized in statement of cash flows: 12 months ended October 31, 2020 Under IFRS 16 12 months ended October 31, 2019 Under IAS 17 $m $m Interest payments on lease liabilities 13.2 2.0 Payment for lease liabilities (2019: payment for finance lease liabilities) 80.1 12.9 Total cash outflow for leases 93.3 14.9 Extension options Some property leases contain extension options exercisable by the Group before the end of the non-cancellable contract period. Where practicable, the Group seeks to include extension options in new leases to provide operational flexibility. The extension options held are exercisable only by the Group and not by the lessors. The Group policy on assessing and reassessing whether it is reasonably certain that the optional period will be included in the lease term is described in “II Critical accounting estimates, assumptions and judgements”. The Group reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control. Significant changes in assumptions or activities e.g. such as an acquisition or disposal, would impact the expected future cash outflows related to leasing activities. Where a significant event or change in circumstances does not occur, the lease term and therefore the lease liability and right-of-use asset, will decline over time. The Group’s cash outflow for leases in the 12 months ended October 31, 2020 was $93.3 million. Leases with annual cash outflows during the 12 months ended October 31, 2020 of $8.9 million ended and were not renewed or replaced. Considering the impact of these terminations and absent significant future changes in the volume of the Group’s activities or strategic changes to lease fewer assets the Group’s cash outflow would be expected to continue for future periods at a consistent level, subject to any contractual price increases. The maturity analysis of the Group’s lease liability, below, only includes the reasonably certain payments to be made; cash outflows in these future periods will likely exceed these amounts as payments will be made on optional periods not considered reasonably certain at present and on new leases entered into in future periods. Lease obligations: Under IFRS 16 “Leases”, the Group recognizes the discounted future lease payments over the reasonably certain lease term as a liability along with an associated right-of-use asset, see above. The movement on the Group lease obligations in the year were as follows: Note $m IFRS 16 adoption 269.8 Transfer from Finance lease liability 23.5 Balance at November 1, 2019 293.3 Additions 41.6 Disposals (0.2 ) Payments (93.3 ) Interest 6 13.2 Foreign exchange (4.2 ) Balance at October 31, 2020 250.4 Included within: Current liabilities 82.2 Non-current liabilities 168.2 Total 250.4 The maturity profile of the Group’s lease obligations is as follows: $m Within one year 82.2 In one to two years 69.5 In two to three years 43.3 In three to five years 49.3 In more than five years 36.3 At October 31, 2020 280.6 Impact of discounting (30.2 ) Total lease obligations 250.4 Leases as lessor The Group acts as a lessor where it is able to sub-lease vacant property space. Sub-leases are classified as either finance leases or operating leases dependent upon the transfers of substantially all of the risk and rewards associated with the head lease to the lessee in the sub-lease agreement. Finance leases The Group has six lease arrangements classified as finance leases. The long-term element of net investment in leases of $5.5 million as at October 31, 2020 is included in note 13 “Other non-current assets”. The short-term element of net investments in leases of $2.1 million as at October 31, 2020 is included in other receivables in note 14 “Trade and other receivables”. Under IAS 17, the Group did not recognize any net investment in leases. Operating leases The Group has six lease arrangements classified as operating leases. Rental income recognized by the Group for the 12 months ended October 31, 2020 was $0.4 million (2019: $1.0 million). |
Contract liabilities
Contract liabilities | 12 Months Ended |
Oct. 31, 2020 | |
Contract liabilities [Abstract] | |
Contract liabilities | 20 Contract liabilities October 31, 2020 October 31, 2019 $m $m Current 981.4 1,045.9 Non-current 117.2 149.9 1,098.6 1,195.8 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 and recognized over the period of the contract in future years. Contract liabilities primarily relates to undelivered maintenance and subscription services on billed contracts. Contract liabilities as at October 31, 2020 were $1,098.6 million (2019: $1,195.8 million). The movement in contract liabilities in the year 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 year that was included in the contract liability balance as at November 1, 2019 was $1,045.9 million (2019: $1,134.7 million). 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 years. The remaining revenue allocated to future performance obligations was $1,598.1 million as at October 31, 2020 (2019: $1,468.9 million), of which approximately 77% (2019: 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, 2020 | |
Provisions [Abstract] | |
Provisions | 21 Provisions October 31, 2020 October 31, 2019 $m $m Onerous leases and dilapidations 16.9 34.2 Restructuring 30.8 36.4 Legal 9.7 5.7 Other 14.8 2.1 Total 72.2 78.4 Current 49.7 29.3 Non-current 22.5 49.1 Total 72.2 78.4 Onerous contracts and dilapidations Restructuring Legal Other Total Note $m $m $m $m $m At October 31, 2019 34.2 36.4 5.7 2.1 78.4 Adoption of IFRS 16 1 (16.7 ) - - - (16.7 ) At November 1, 2019 17.5 36.4 5.7 2.1 61.7 Acquisitions – ATAR Labs 33 - 0.4 - - 0.4 Additional provision in the period 3.2 34.7 5.4 12.7 56.0 Released (3.1 ) (5.9 ) (0.7 ) - (9.7 ) Utilization of provision (1.0 ) (35.7 ) (0.8 ) - (37.5 ) Effects of movements in exchange rates 0.3 0.9 0.1 - 1.3 At October 31, 2020 16.9 30.8 9.7 14.8 72.2 Current 5.0 20.2 9.7 14.8 49.7 Non-current 11.9 10.6 - - 22.5 Total 16.9 30.8 9.7 14.8 72.2 1 Onerous contracts 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. 33 - - - 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 contracts and dilapidations provisions The onerous contracts relate to onerous non-rental related property costs and dilapidations provision relates to obligations to restore leased Group properties. These positions are expected to be fully utilized within eight years. An additional provision of $3.2 million was recorded in the 12 months ended October 31, 2020 (2019: $19.2 million), 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. 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 30, contingent liabilities. Other provisions Other provisions at October 31, 2020 relate to interest on uncertain tax provisions of $7.6 million (2019: $2.1 million), a $2.8 million sales tax provision (2019: $nil) and a provision for estimated unclaimed property exposure pertaining to accounts payable of $4.4 million (2019: $nil). |
Pension commitments
Pension commitments | 12 Months Ended |
Oct. 31, 2020 | |
Pension commitments [Abstract] | |
Pension commitments | 22 Pension commitments 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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Continuing operations Note $m $m $m Defined contribution schemes 29 31.2 32.7 43.3 b) Defined benefit October 31, 2020 October 31, 2019 $m $m Within non-current assets: Long-term pension assets 18.2 17.1 Within non-current liabilities: Retirement benefit obligations (155.0 ) (141.4 ) As of October 31, 2020, there are a total of 33 defined benefit plans in 10 countries around the world (2019: 30). The highest concentration of the pension schemes are in Germany, where the Group sponsors 12 separate schemes that comprise over 83% of the total net retirement benefit obligation recorded in the Group’s consolidated statement of financial position. The Group’s 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 member’s length of service, social security ceiling and other factors. Although most of these schemes in Germany are funded at some level, there are typically 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 a funds focusing on equities and debt instruments. Most of the Group’s German schemes are closed to new entrants, however, three 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 to new members. The Group sponsors 12 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. 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. There were three plans reclassified to the net retirement obligation during the 12 months ended October 31, 2020. None of the plans are final salary plans and none are material. 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. During the 12 months ended October 31, 2020, some of the insurance policies previously unpledged were pledged to the pension plans and transferred to plan 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 assets is as follows: October 31, 2020 October 31, 2019 Note $m $m As at November 1 17.1 16.7 Reclassification to assets held for sale - 0.1 Transfer to plan assets (0.4 ) - Interest on non-plan assets 6 0.2 0.3 Benefits paid (0.1 ) (0.1 ) Contributions 0.3 0.3 Included within other comprehensive income: - Change in fair value assessment 0.4 0.4 0.4 0.4 Effects of movements in exchange rates 0.7 (0.6 ) As at October 31 18.2 17.1 Included within other comprehensive income: Continuing operations 0.4 0.3 Discontinued operation - 0.1 0.4 0.4 The non-plan assets are considered to be Level 3 asset under the fair value hierarchy as of October 31, 2020. 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 12 months ended October 31, 2020 (2019: 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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Current service charge 10.4 9.0 12.6 Past service charge - - (5.5 ) Charge to operating (loss)/profit 29 10.4 9.0 7.1 Current service charge – discontinued operations - 0.1 0.3 Interest on pension scheme liabilities 3.1 4.2 5.2 Interest on pension scheme assets (1.3 ) (1.8 ) (2.4 ) Charge to finance costs 6 1.8 2.4 2.8 Total continuing charge to (loss)/profit for the period 12.2 11.5 10.2 The contributions for the 12 months ended October 31, 2021 are expected to be broadly in line with the 12 months ended October 31, 2020. The Group funds the schemes so that it makes at least the minimum contributions required by local government, funding and taxing authorities. There are no funding requirements in Germany. The following amounts have been recognized as movements in the statement of other comprehensive income: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31,2018 $m $m $m Actuarial return on assets excluding amounts included in interest income 1.8 5.9 0.6 Re-measurements – actuarial gains/(losses): - Demographic - (1.6 ) 0.3 - Financial (0.6 ) (38.8 ) (11.1 ) - Experience 3.0 8.4 1.9 2.4 (32.0 ) (8.9 ) Reclassification from defined contribution scheme or other assets and liabilities to defined benefit scheme (4.6 ) - (2.1 ) Movement in the period (0.4 ) (26.1 ) (10.4 ) Continuing operations (0.4 ) (26.2 ) (8.9 ) Discontinued operation - 0.1 (1.5 ) (0.4 ) (26.1 ) (10.4 ) The weighted average key assumptions used for the valuation of the schemes were: October 31, 2020 October 31, 2019 Germany Rest of World Total Germany Rest of World Total Rate of increase in final pensionable salary 2.50 % 3.09 % 2.64 % 2.50 % 3.09 % 2.65 % Rate of increase in pension payments 1.50 % 1.50 % 1.50 % 1.75 % 1.50 % 1.75 % Discount rate 0.79 % 1.41 % 0.90 % 1.09 % 1.71 % 1.20 % Inflation 1.50 % 1.25 % 1.47 % 1.75 % 1.16 % 1.69 % 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 $14.0 million in the 12 months ended October 31, 2019. 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, 2020 October 31, 2019 Germany Rest of World Total Germany Rest of World Total Retiring at age 65 at the end of the reporting year: Male 20 22 20 20 20 20 Female 24 25 24 23 23 23 Retiring 15 years after the end of the reporting year: Male 22 23 22 22 23 22 Female 26 26 25 25 26 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, 2020 October 31, 2019 Germany Rest of World Total Germany Rest of World Total Present value of defined benefit obligations 248.4 54.9 303.3 213.5 48.0 261.5 Fair values of plan assets (119.1 ) (29.2 ) (148.3 ) (92.0 ) (28.1 ) (120.1 ) 129.3 25.7 155.0 121.5 19.9 141.4 The defined benefit obligation has moved as follows: October 31, 2020 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 $m $m $m $m $m $m $m $m $m At November 1, 2019 213.5 (92.0 ) 121.5 48.0 (28.1 ) 19.9 261.5 (120.1 ) 141.4 Current service cost 6.9 - 6.9 3.5 - 3.5 10.4 - 10.4 Reclassification from other liabilities/assets 14.7 (17.8 ) (3.1 ) 1.5 - 1.5 16.2 (17.8 ) (1.6 ) Transfer from long-term pension assets - (0.4 ) (0.4 ) - - - - (0.4 ) (0.4 ) Benefits paid (0.6 ) 0.6 - (2.9 ) 2.9 - (3.5 ) 3.5 - Contributions by plan participants 1.1 (1.1 ) - 0.6 (0.6 ) - 1.7 (1.7 ) - Contribution by employer - (0.7 ) (0.7 ) - (2.3 ) (2.3 ) - (3.0 ) (3.0 ) Interest cost/(income) (note 6) 2.3 (1.0 ) 1.3 0.8 (0.3 ) 0.5 3.1 (1.3 ) 1.8 Included within other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic - - - - - - - - - - Financial (0.4 ) - (0.4 ) 1.0 - 1.0 0.6 - 0.6 - Experience (2.0 ) - (2.0 ) (1.0 ) - (1.0 ) (3.0 ) - (3.0 ) Actuarial return on assets excluding amounts included in interest income - (2.4 ) (2.4 ) - 0.6 0.6 - (1.8 ) (1.8 ) Reclassification to defined benefit scheme 3.1 - 3.1 1.5 - 1.5 4.6 - 4.6 0.7 (2.4 ) (1.7 ) 1.5 0.6 2.1 2.2 (1.8 ) 0.4 Effects of movements in exchange rates 9.8 (4.3 ) 5.5 1.9 (1.4 ) 0.5 11.7 (5.7 ) 6.0 At October 31, 2020 248.4 (119.1 ) 129.3 54.9 (29.2 ) 25.7 303.3 (148.3 ) 155.0 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 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 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 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, 2020 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 49.3 - 49.3 - 6.4 6.4 49.3 6.4 55.7 - Debt instruments 63.3 - 63.3 2.6 4.9 7.5 65.9 4.9 70.8 - Real estate - - - - 2.9 2.9 - 2.9 2.9 Cash and cash equivalents - - - - 2.6 2.6 - 2.6 2.6 Re-insurance contracts with guaranteed interest rates * - 6.5 6.5 - - - - 6.5 6.5 Other - - - - 9.8 9.8 - 9.8 9.8 Total 112.6 6.5 119.1 2.6 26.6 29.2 115.2 33.1 148.3 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 * 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 23 years for Germany and 14 years for all other schemes. Germany Rest of World Increase in assumption Change in defined benefit obligation Decrease in assumption Change in defined benefit obligation Increase in assumption Change in defined benefit obligation Decrease in assumption Change in defined benefit obligation Discount rate for scheme liabilities 0.50 % (10.5 %) 0.50 % 12.1 % 0.50 % (6.5 %) 0.50 % 7.3 % Price inflation/rate of increase in pension payments* 0.25 % 3.4 % 0.25 % (3.2 )% 0.25 % 0.9 % 0.25 % (0.9 )% Salary growth rate 0.50 % 1.1 % 0.50 % (1.1 )% 0.50 % 2.7 % 0.50 % (2.8 )% Life expectancy 1 year 3.9 % - - 1 year 2.0 % - - * For the German schemes the same values are used for both the inflation assumption and the rate of increase in pension payments. |
Other non-current liabilities
Other non-current liabilities | 12 Months Ended |
Oct. 31, 2020 | |
Other non-current liabilities [Abstract] | |
Other non-current liabilities | 23 Other non-current liabilities October 31, 2020 October 31, 2019 $m $m Accruals 39.9 50.4 39.9 50.4 Accruals includes employee benefit liability $30.6 million (2019: $33.3 million) that relates to employee obligations in certain countries and an IT contractual liability $5.9 million (2019: $6.6 million). Certain employee benefit liabilities in Germany and the related benefit deposits were transferred to defined benefit obligations in the year (note 22). |
Financial risk management and f
Financial risk management and financial instruments | 12 Months Ended |
Oct. 31, 2020 | |
Financial risk management and financial instruments [Abstract] | |
Financial risk management and financial instruments | 24 Financial risk management and financial instruments Risk factors and treasury risk management 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. 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/capital risk. Treasury 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 business management. 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, the use of derivative and non-derivative financial instruments as appropriate, and investment of excess funds. Liquidity and capital 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. The Group seeks to maximize financial flexibility and minimize refinancing risk by issuing debt from a variety of sources and with a range of maturities. The level of facilities required are determined through the preparation of cash flow forecasts which consider a range of business performance scenarios. Borrowings are refinanced substantially prior to falling current to minimize refinancing risk. 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. In March 2020, given the increased macro-economic uncertainty as a result of the COVID-19 pandemic, as a precautionary measure, the directors withdrew their recommendation for the payment of a final dividend of 58.33 cents per share in respect of the 12 months ended October 31, 2019. Similarly, no dividend was paid in respect of the six months to April 30, 2020. The decision to not pay these dividends has resulted in an increase in available liquidity compared to the payments that would otherwise have been made under the Group’s existing dividend policy. In May 2020, the Group refinanced its $1,415m term loans maturing in November 2021 and made a voluntary debt repayment of $143m. In September 2020, the Group refinanced its revolving credit facility and reduced its size from $500.0m to $350.0m. Following these refinancing activities the Group’s earliest debt maturity is in June 2024. The repayment of debt and reduction in size of the revolving credit facility were made following an assessment of potential future performance scenarios, taking into account the current additional macro-economic uncertainties as a result of COVID-19. The only financial covenant attaching to the Group’s borrowing facilities relates to the revolving credit facility, which is subject to an aggregate net leverage covenant only in circumstances where more than 35% of the revolving credit facility is outstanding at a fiscal quarter end. Throughout the year the applicable covenant threshold was 4.35x; however no test was applicable at October 31,2020 or any previous test date, as the facility was not drawn in excess of the 35% threshold. This covenant is not expected to inhibit the Group’s future operations or funding plans. The Group uses cash pooling structures and intercompany loans to mobilize cash efficiently within the Group. The key objectives of the treasury function with respect to cash and cash equivalents are to protect their principal value, concentrate cash centrally, minimize the requirements for external borrowing and optimize yield. As part of its short-term cash management the Group invests in a range of cash and cash equivalents, including money market funds, which are considered to be highly liquid and not exposed to significant changes in fair value. Subsidiary companies are funded through share capital, retained earnings and loans from central finance companies on commercial terms. Subsidiary companies do not enter into local borrowings with external counterparties. 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. The objective of the Group’s interest rate risk management policy is to manage the uncertainty and adverse impact on the Group’s net interest charge due to changes in interest rates to an acceptable level. In doing so, the Group seeks to minimize the cost of hedging and the level of associated counterparty risk. The Group has set a target of approximately half its borrowings being subject to fixed interest rates in order to minimize its exposure to changes in interest rates. This is achieved through four US dollar interest swaps for a total notional value of $2.25 billion, with a maturity date of September 2022. The hedge accounting is discussed further later in the note. The Group’s borrowing facilities do not contain any covenants with respect to interest cover ratios. Foreign exchange 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, Indian Rupee, Israeli Shekel, Japanese Yen and the Chinese Yuan. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations where the transactions are denominated in a currency that is not the entity’s functional currency. The Group is subject to exposure on the translation of the net assets of foreign currency subsidiaries into its reporting currency, US dollar. The Group’s primary balance sheet translation exposures are noted in the exposure analysis below. These exposures are kept under regular review with the Group treasury function providing reporting to the Treasury Risk committee and the Audit committee. Group borrowings are denominated in US dollars and Euros. The Group seeks to match the currency profile of borrowings to the cash flows arising from the Groups operations used to service those borrowings. The May 2020 debt refinancing included an additional proportion of Euro debt and a reduction in US dollar debt which is intended to better match the currency profile of the Group’s debt with the cash flows used to service that debt (note 18 “Borrowings”). The Group has certain investments in foreign operations, whose net assets are exposed to foreign currency translation risk. The Group faces currency exposures arising from the translation of profits earned in foreign currency subsidiaries into the Group’s reporting currency of US dollars. As at October 31, 2020 two net investment hedges totalling €1.05 billion have been designated using non-derivative Euro debt instruments to minimize the volatility in shareholder’s equity arising from foreign currency translation (there were no net investment hedges as at October 31, 2019). Exposures also arise from foreign currency denominated trading transactions undertaken by subsidiaries and exposures here are not hedged. The Group utilizes constant currency reporting to enable management and investors to understand the underlying performance of the Group excluding exchange rate impacts. Credit risk The Group provides credit to customers in the normal course of business. Collateral is not required for those receivables but the Group has policies in place requiring appropriate credit checks on potential customers before sales commence and a monitoring process for assessing overdue receivables and customer payment behavior post sale. These policies and procedures include assessing customer credit limits and the use of third party financial and risk reporting to control our exposure and 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. The Group maintains a provision for impairment based upon the measurement of lifetime expected credit losses for all trade receivables using the IFRS 9 simplified approach. The risk management practices noted above provide the historical customer payment profiles and a view on customer behaviour with any historical credit losses experienced. The loss allowance is adjusted for forward-looking factors specific to the debtor and the economic environment resulting in an overall assessment of any provision required. The Group sells products and services to a wide range of customers around the world and therefore believes there is no significant concentration of customer credit risk. The Group’s credit risk on cash and cash equivalents is limited as the counterparties are generally well established financial institutions with generally high credit ratings. Cash deposits and other financial instruments give rise to credit risk on the amounts due from the related counterparties. Generally, the Group aims to transact with counterparties with strong investment grade credit ratings. However, the Group recognizes that due to the need to operate over a large geographic footprint, this will not always be possible. Counterparty credit risk is managed on a global basis by limiting the aggregate amount of exposure to any one counterparty, taking into account its credit rating. The credit ratings of all counterparties are reviewed regularly. All derivatives are subject to ISDA agreements or equivalent documentation. The maximum exposure to the credit risk of financial assets at the balance sheet date is reflected by the carrying values included in the Group’s balance sheet. Please refer to the credit risk table further below. The credit quality of cash and cash equivalents is listed in note 16 “Cash and cash equivalents” with over 95% rated from A+ to AAA. Financial instruments The tables below sets out the measurement categories and carrying values of financial assets and liabilities with fair value inputs where relevant. Measurement category Carrying value October 31, 2020 Fair value 2020 Fair value Hierarchy 2020/2019 Carrying value October 31, 2019 Note $m $m Financial assets Non-current Long-term pension assets 22 FV OCI 18.2 Fair value insurance based input Level 3 17.1 Current Cash and cash equivalent 16 Amortized cost 737.2 - - 355.7 Trade and other receivables 14 Amortized cost 648.6 - - 922.7 Contract assets 14 Amortized cost 33.7 - - 56.3 1,437.7 1,351.8 Financial liabilities Non-current Derivative financial instruments – interest rate swaps 1 24 FV OCI 77.9 Fair value Bank Institutions Level 2 36.5 Borrowings (gross) 2 18 Amortized cost 4,699.0 4,535.1 - 4,775.0 Lease obligations 19 Amortized cost 82.2 - - 11.7 Provisions 21 Amortized cost 22.5 - - 49.1 Current Borrowings (gross) 2 18 Amortized cost 34.2 - - - Lease obligations 19 Amortized cost 168.2 - - 11.8 Provisions 21 Amortized cost 49.7 - - 29.3 Trade and other payables – accruals 17 Amortized cost 419.2 - - 530.3 5,552.9 5,443.7 1 2 Fair value measurement For trade and other receivables, cash and cash equivalents, provisions, trade and other payables, fair values approximate to book values due to the short maturity periods of these financial instruments. For trade receivables, allowances are made for credit risk. Long-term borrowings with a carrying value of $4,640.3 million (2019: $4,670.7 million) (note 18 “Borrowings”) including unamortized prepaid facility fees and discounts, have a fair value estimate of $4,535.1 million (2019: $4,686.0 million) based on trading prices obtained from external banking providers as at October 31, 2020. 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. Valuations are updated by the counter-party banks on a monthly basis. The long-term pension assets are considered to be Level 3 assets under the fair value hierarchy as of October 31, 2020. 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. The movement in the long-term pension assets is disclosed in note 22 “Pension commitments”. For derivatives and long-term pension assets there were no transfers of assets or liabilities between levels of the fair value hierarchy during the year. October 31, 2020 October 31, 2019 Interest rate risk $m $m Interest rate swaps (receive variable, pay fixed) Fair value of Derivative liability (total of 4 swaps) (77.9 ) (36.5 ) Notional amount (4 x $562.5 million) 2,250.0 2,250.0 Maturity date September 30, 2022 September 30, 2022 Change in fair value of outstanding hedging instruments (OCI hedging reserve excluding deferred tax) (note 27) (41.3 ) (122.9 ) Change in value of hedging instruments (as above adjusted for impact of credit risk) (39.9 ) (121.9 ) Hedging ratio 1.1 1.1 The Group has four interest rate swaps, which are designated in a hedge relationship. The Group’s approved strategy in accordance with our risk management policies is to minimize the risk of cash flow fluctuations due to interest rate changes in relation to the 1M-USD LIBOR rate for up to half of the Group’s external borrowings for the period 19 October 2017 to 30 September 2022. The specific risk management objective is to hedge the interest rate risk (cash flow risk) due to changes in the 1M-USD LIBOR rate charged on $2,250.0 million of the debt issued by Seattle Spin Co Inc. between October 19, 2017 and September 30, 2022. Derivatives are only used for economic hedging purposes and not as speculative investments. 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 0% floor) plus a current margin of 2.75% 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 4.699%. For the year to October 31, 2020, net interest (finance cost) paid for the swaps amounted to $23.7 million. For the life of the swap, net interest paid to date amounted to $17.2 million. Non-Derivative financial instruments – Designated Euro borrowings October 31, 2020 October 31, 2019 Foreign exchange risk $m $m Notional amounts for Designated Euro borrowing Euro B-1 2020 tranche €600 million (Borrowings maturity date: June 2025) 665.8 - Foreign exchange (loss) on revaluation transferred to OCI-CTA No sources of ineffectiveness observed in review (34.5 ) - Euro 2017 tranche €453 million (Borrowings maturity date: June 2024) 528.5 - Foreign exchange (loss) on revaluation transferred to OCI-CTA No sources of ineffectiveness observed in review (24.2 ) - Hedge ratio for each of the two Net investment hedges 1.1 - The Group has designated two tranches of non-derivative Euro borrowings in two hedge relationships The borrowings in place have a designated initial carrying value of approximately €1.05 billion (note 18 “Borrowings”) hedged against Euro designated net investments in foreign operations. The specific risk management objective is to carry out a net investment hedge in the consolidated financial statements of the Group, to reduce the foreign currency translation exposure arising from the Group’s investments in foreign entities with Euro functional currency through the use of Euro currency borrowings as hedging instruments as permitted by the Group’s Treasury policy. Hedge effectiveness Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic effectiveness assessments to ensure that an economic relationship exists between the hedged item and the hedging instrument. The testing determined that the hedges met the IFRS 9 requirements for the financial reporting year. The IFRS 9 hedging requirements apply to both the interest swaps and the net investment hedges. The impact of changes in the fair value of interest rate swaps in the 12 months ended October 31, 2020 is shown in the Consolidated statement of comprehensive income. The foreign exchange gains/losses for the revaluation of the net investment hedging instruments are compared against the translation of goodwill and intangibles affecting the cumulative translation reserve on consolidation. No amounts have been reclassified from the hedging reserve to the loss for the year. Hedge effectiveness may be affected by credit risk (in the case of the interest rate swaps) and the net investment hedged items may be affected by events impacting the carrying value of goodwill and intangible assets such as asset disposals or impairment reviews. The Group also utilized a forward exchange contract to fix the Sterling equivalent (£150.0 million) on the cancelled May 2020 dividend payment. The forward contract was not designated for formal hedge accounting and was settled early for $21.8 million within the reporting year as the proposed dividend was cancelled. The charge was made to foreign exchange losses in the Consolidated statement of comprehensive income. Credit risk The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at October 31, 2020 was: October 31, 2020 October 31, 2019 Note $m $m Trade receivables (gross) 14 628.4 877.9 Cash and cash equivalents 16 737.2 355.7 1,365.6 1.233.6 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, 2020 and 2019 and movements in the loss allowance during each year were determined as follows for trade receivables (note 14 “Trade and other receivables”): October 31, 2020 October 31, 2019 $m $m At November 1 – calculated under IAS 39 41.9 Accounting policy change – IFRS 9 (recognized against retained earnings on November 1, 2018) 20.0 At November 1 – calculated under IFRS 9 42.4 61.9 Loss allowance provided in the period (4.8 ) 16.0 Receivables written off as uncollectable (19.7 ) (35.5 ) At October 31 17.9 42.4 Ageing is the main internal rating assessment around credit quality for trade receivables: the ageing of gross trade receivables and associated loss allowances can be found in note 14. Contract assets relate to amounts not yet due from customers and contain no amounts past due. 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 “Loss before tax” shows the impact on the Consolidated statement of comprehensive income of foreign exchange losses in the 12 months ended October 31, 2020 of $29.7 million (2019: $11.3 million loss). The foreign exchange loss in the year includes the loss of $21.8 million due to the settlement of the foreign exchange contract regarding the cancelled dividend. Exposure report 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 interest rates from US and Euro capital markets. Foreign exchange exposures for all re-measuring balances are tracked and reported to management The key drivers for foreign exchange exposure are cash, borrowings and inter-company positions with trade receivables and trade payables having less relative aggregate exposure. The table below represents a key currency extract from the Group exposures to movements in currency presenting exposures in excess of $10 million equivalent. The key exposure relates to the increased Euro debt profile since the May refinancing. The Indian Rupee and Israeli Shekel had key inter-company positions during the year. Foreign exchange analysis is shown as for reporting to the Treasury Risk committee. Please note that aggregate foreign exchange exposures for the Euro below do not consider the impact of the net investment hedges. However, the impact can be seen in the hedging table above. Group exposure +/- 5 % +/- 10 % Key aggregate currency exposures* $m $m $m Euro (1,280.1 ) 64.0 128.0 Indian Rupee (INR) (42.4 ) 2.1 4.2 Israeli Shekel (ILS) (29.2 ) 1.4 2.9 Chinese Yuan (CNY) (25.6 ) 1.3 2.6 Australian Dollar (AUD) (15.7 ) 0.8 1.6 Japanese Yen (JPY) 55.1 2.8 5.5 Swedish Krona (SEK) 23.5 1.2 2.4 Swiss Franc (CHF) 18.9 0.9 1.9 Danish Krone (DKK) 17.1 0.9 1.7 Canadian Dollar (CAD) 15.9 0.8 1.6 Mexican Peso (MXN) 14.6 0.7 1.5 United Arab Emirates Dirham (AED) 13.7 0.7 1.4 Czech Koruna (CZK) 10.3 0.5 1.0 * Presenting aggregate foreign exchange exposures in excess of $10 million equivalent. Interest rate exposure Borrowings exposures to variable interest rate changes (based on gross debt excluding the effects of hedging) Group exposure LIBOR, EURIBOS $m $m Euro 1,228.7 12.3 US dollar 3,504.5 35.0 Total gross debt (note 18) 4,733.2 47.3 Net debt The net debt of the Group at the Consolidated statement of financial position date is as follows: October 31, 2020 October 31, 2019 Note $m $m Borrowings 18 (4,640.3 ) (4,670.7 ) Cash and cash equivalents 16 737.2 355.7 Lease obligations (2019: Finance lease obligations) 19 (250.4 ) (23.5 ) Net debt (4,153.5 ) (4,338.5 ) Borrowings are shown net of unamortized prepaid facility arrangement fees of $92.9 million (2019: $104.3 million). Gross borrowings are $4,733.2 million (2019: $4,775.0 million). Change in liabilities arising from financing activities for interest bearing loans (note 18 “Borrowings”) and lease obligations (note 19 “Leases”) were as follows: Interest bearing loans Lease obligations Total $m $m $m At November 1, 2019 4,775.0 23.5 4,798.5 Adoption of IFRS16 - 269.8 269.8 4,775.0 293.3 5,068.3 Draw down/new leases 1,490.8 41.6 1,532.4 Repayments (1,589.7 ) (93.3 ) (1,683.0 ) Disposals - (0.2 ) (0.2 ) Interest - 13.2 13.2 Foreign exchange 57.1 (4.2 ) 52.9 At October 31, 2020 4,733.2 250.4 4,983.6 |
Share capital
Share capital | 12 Months Ended |
Oct. 31, 2020 | |
Share capital [Abstract] | |
Share capital | 25 Share capital Ordinary shares at 10 pence each as at October 31, 2020 (2019: 10 pence each) October 31, 2020 October 31, 2019 October 31, 2018 Shares $m Shares $m Shares $m Issued and fully paid At November 1 363,583,328 47.2 436,800,513 65.8 229,674,479 39.7 Shares issued to satisfy option awards 1,518,327 0.1 6,109,091 0.1 1,894,673 0.2 Shares utilized to satisfy option awards (556,278 ) - (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 - - - - 222,166,897 28.8 At October 31 364,545,377 47.3 363,583,328 47.2 436,800,513 65.8 “B” shares at 335.859391 pence each (2019: 335.859391 pence each) October 31, 2020 October 31, 2019 October 31, 2018 Shares $m Shares $m Shares $m Issued and fully paid At November 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, 2020 October 31, 2019 October 31, 2018 Shares $m Shares $m Shares $m Issued and fully paid At November 1 - - - - - - Issue of Deferred shares - - 74,521,459 - - - Redemption of Deferred shares - - (74,521,459 ) - - - At October 31 - - - - - - Share issuances during the 12 months ended to October 31, 2020 In the 12 months ended October 31, 2020, 1,518,327 ordinary shares of 10 At October 31, 2020, 29,644,627 treasury shares were held (2019: 30,200,905, 2018: 9,858,205) such that the number of ordinary shares with voting rights was 334,900,750 (2019: 333,382,423) and the number of listed shares at October 31, 2020 was 364,545,377 (2019: 363,583,328; 2018: 436,800,513). 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, 2020 was 18,856,680 (2019: 14,533,973; 2018: 18,156,060). Share buy-back On 29 August 2018, the Company announced the start of a share buy-back program for an initial tranche of up to $200m, which was extended on 5 November 2018 to a total value of $400 million (including the initial tranche). On 14 February 2019, the buy-back program was extended into a third tranche of up to $110 million up until the day before the AGM which took place on 29 March 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 17 July 2019, the Company announced a new share buy-back program with an initial tranche of up to $200 million. The program was affected in accordance with the terms of the authority granted by shareholders at the 2019 AGM and the Listing Rules. On 3 October 2019, the Company completed the $200 million share buy-back program. The total amount bought back under share buy-back programs was $710.0 million, 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 programmes are held as treasury shares. Treasury share movements and share buy-back costs are shown below: 12 months ended October 31, 2020 12 months ended October 31, 2019 Treasury shares Number Number Share buy-backs - 29,160,054 Shares issued to satisfy option awards - (4,804,817 ) Share reorganisation - (4,012,537 ) - 20,342,700 Share buy-backs numbers: Ordinary shares bought on the London Stock Exchange - 25,766,919 ADRs purchased on the New York Stock Exchange - 3,393,135 - 29,160,054 Share buy-back cost: $m $m Share buy-back cost - 538.8 Expenses - 5.9 - 544.7 The weighted average price of shares bought back in the 12 months ended October 31, 2019 was £14.61 per share. Return of Value On April 29, 2019, a Return of Value was made to shareholders amounting to $1,800.0 million (£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 29 April 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 $1,800.0 million increase in capital redemption reserve and a $1,800.0 million reduction in the merger reserve. 413,784,754 “B” shares were issued at 335.859391 pence each, resulting in a total $1,800.0 million 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 $1,800.0 million 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 $1,800.0 million incurred net transaction costs of $1.0 million. 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 $18.7 million to the capital redemption reserve. The settlement date was 13 May 2019 for the Ordinary Shares. |
Share premium account
Share premium account | 12 Months Ended |
Oct. 31, 2020 | |
Share premium account [Abstract] | |
Share premium account | 26 Share premium account October 31, 2020 October 31, 2019 October 31, 2018 Note $m $m $m At November 1 44.0 41.0 192.1 Issue and redemption of B shares - - (156.7 ) Movement in relation to share options exercised 29 2.5 3.0 5.6 At October 31 46.5 44.0 41.0 |
Other reserves
Other reserves | 12 Months Ended |
Oct. 31, 2020 | |
Other reserves [Abstract] | |
Other reserves | 27 Other reserves Capital redemption reserve 1 Merger reserve 2 Hedging reserve 3 Total Note $m $m $m $m As at November 1, 2018 666.3 3,724.4 70.0 4,460.7 Return of Value - share consolidation 25 18.7 - - 18.7 Return of Value - issue and redemption of B shares 25 1,800.0 (1,800.0 ) - - Hedge accounting 24 - - (122.9 ) (122.9 ) Current tax movement on hedging - - 23.3 23.3 Reallocation of merger reserve - (184.6 ) - (184.6 ) As at October 31, 2019 2,485.0 1,739.8 (29.6 ) 4,195.2 As at November 1, 2019 2,485.0 1,739.8 (29.6 ) 4,195.2 Hedge accounting 24 - - (41.3 ) (41.3 ) Current tax movement on hedging - - 7.8 7.8 Reallocation of merger reserve - 27.6 - 27.6 As at October 31, 2020 2,485.0 1,767.4 (63.1 ) 4,189.3 1 Capital redemption reserve The capital redemption reserve, a non-distributable reserve, was created as a result of Returns of Value in prior periods (note 26). 2 Reallocation of merger reserve The merger reserve is an unrealized profit until it can be realized by the settlement of the intercompany loan by qualifying consideration. In the 12 months ended October 31, 2019, it was disclosed that $400.0 million of the merger reserve would be settled in the year. However, as at October 31, 2020, only $35.4 million of the balance was settled and the balance of $364.6 million was no longer required. However, $337.0 million is expected to be settled in qualifying consideration during the year ended October 31, 2021 and as such an equivalent proportion of the merger reserve of $27.6 million is considered unrealized, in accordance with section 3.11(d) of Tech 02/17 and therefore has been transferred from retained earnings. 3 Hedging reserve A debit of $33.5 million was recognized in the hedging reserve in relation to hedging transactions entered into in the 12 months ended October 31, 2020 (2019: $99.6 million debit). |
Non-controlling interests
Non-controlling interests | 12 Months Ended |
Oct. 31, 2020 | |
Non-controlling interests [Abstract] | |
Non-controlling interests | 28 Non-controlling interests At October 31, 2019, the Group had minority shareholders in one subsidiary, Novell Japan Ltd. On June 10, 2020, a payment of 2,526,000 JPY ($23,570) was made to acquire 842,000 ordinary 1 JYP shares held. This payment increased the Group’s shareholding from 84.24% to 100%. The Group will therefore no longer have any non-controlling interests. October 31, 2020 October 31, 2019 October 31, 2018 $m $m $m At November 1 1.3 1.0 0.9 Share of profit after tax - 0.3 0.1 Purchase of non-controlling interests (1.3 ) - - At October 31 - 1.3 1.0 Non-controlling interests relate to the companies detailed below: Company name Country of incorporation and principal place of business October 31, 2020 Proportion held October 31, 2019 Proportion held Novell Japan Ltd Japan 100 % 84.24 % |
Employees and directors
Employees and directors | 12 Months Ended |
Oct. 31, 2020 | |
Employees and directors [Abstract] | |
Employees and directors | 29 Employees and directors Staff costs 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Staff costs Wages and salaries 1,187.3 1,204.4 1,819.2 Redundancy and termination costs (non-exceptional) 1.0 0.5 2.1 Social security costs 97.5 93.6 159.0 Other pension costs 41.6 41.7 50.4 1,327.4 1,340.2 2,030.7 Cost of employee share schemes (Share-based payments section below) 17.0 68.8 64.3 Total 1,344.4 1,409.0 2,095.0 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Pension costs comprise: Defined benefit schemes 22 10.4 9.0 7.1 Defined contribution schemes 22 31.2 32.7 43.3 Total 41.6 41.7 50.4 Staff numbers 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Number Number Number Average monthly number of people (including executive directors) employed by the Group: Continuing operations Sales and distribution 5,066 5,413 5,860 Research and development 5,091 5,056 4,323 General and administration 1,937 1,991 1,378 12,094 12,460 11,561 Discontinued operation Sales and distribution - 164 515 Research and development - 170 629 General and administration - 3 8 - 337 1,152 Total Sales and distribution 5,066 5,577 6,375 Research and development 5,091 5,226 4,952 General and administration 1,937 1,994 1,386 Total 12,094 12,797 12,713 Directors and key management 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Directors Aggregate emoluments 4.1 3.7 14.6 Aggregate gains made on the exercise of share options 0.3 79.7 77.7 Company contributions to money purchase pension scheme - - 0.7 Total 4.4 83.4 93.0 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Key management compensation Short-term employee benefits 12.4 9.5 25.9 Share based payments 2.2 25.3 44.5 Total 14.6 34.8 70.4 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 $17.0 million for the 12 months ended October 31, 2020 (2019: $71.3 million). 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Share-based compensation – IFRS 2 charge 18.3 62.0 70.9 Employer taxes (1.3 ) 6.8 (6.6 ) Continuing operations 17.0 68.8 64.3 Discontinued operation - 2.5 - Total 17.0 71.3 64.3 As at October 31, 2020, accumulated employer taxes of $0.6 million (2019: $1.9 million; 2018: $20.6 million) are included in trade and other payables and $nil (2019: $nil; 2018: $0.5 million) is included in other non-current liabilities. The Group has various share-based plans details of which are provided below. a) Incentive Plan 2005 The Micro Focus International plc Incentive Plan 2005 (“LTIP”) permits the granting of share awards to executive directors and selected employees on a discretionary basis. Awards can be granted as conditional awards of shares or as nil-cost options. 12 months ended October 31, 2020 12 months ended October 31, 2019 Number of awards Weighted average exercise price of awards Number of awards Weighted average exercise price of awards ‘000 pence ‘000 pence Outstanding at November 1 9,227 6 5,620 14 Exercised (734 ) 1 (3,410 ) 17 Forfeited/lapsed (2,100 ) 22 (545 ) 27 Granted 7,829 - 7,562 - Outstanding at October 31 14,222 - 9,227 6 Exercisable at October 31 938 4 1,416 34 The weighted average share price for awards on the date of exercise was 526 pence for the 12 months ended October 31, 2020 (2019: 1,707 pence). The amount charged to the Consolidated statement of comprehensive income in respect of the LTIP scheme was $9.3 million for the 12 months ended October 31, 2020 (2019: $31.1 million). In addition to this $1.3 million (2019: $8.5 million charge) was credited to the Consolidated statement of comprehensive income in respect of National Insurance on these share awards. October 31, 2020 October 31, 2019 Weighted average exercise price Number of awards Weighted average remaining contractual life Weighted average exercise price Number of awards Weighted average remaining contractual life Range of exercise prices pence ‘000 years pence ‘000 years £0.10 or less - 14,104 17.2 1 8,982 3.4 £0.11 – £1.00 13 118 2.8 13 137 3.7 £1.01 – £2.00 - - - - - - £2.01 – £3.00 - - - - - - £3.01 - £4.00 - - - - - - More than £4.00 - - - 402 108 0.7 - 14,222 17.1 6 9,227 3.4 Unvested awards granted are subject to the following vesting conditions of either: Performance criteria Unvested options Number ‘000 Description Free cash flow/ Relative TSR growth 4,601 Awards made with a free cash flow target and relative TSR target over a three-year period. Continued employment 3,528 Awards under a continuing employment criteria over a two or three-year period. Adjusted EBITDA growth 2,609 Awards made with Adjusted EBITDA growth targets over a two-year period. Cumulative Earnings per share (“EPS”) growth 1,862 EPS for these awards is defined as Diluted Adjusted EPS. Where the cumulative EPS growth over a three or four-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. Other 684 Various other vesting conditions 13,284 The weighted average fair value of awards granted during the 12 months ended October 31, 2020 determined using the Black-Scholes valuation model was £2.01 (2019: £14.54). The significant inputs into the model for the 12 months ended October 31, 2020 were: 12 months ended October 31, 2020 12 months ended October 31, 2019 Weighted average share price at the grant date £2.50 £16.44 Expected volatility 72.85% between 48.91% and 49.68% Expected dividend yield 23.76% between 4.78% and 5.87% Expected option life 2 years 0.76 to four years Annual risk-free interest rate 0.17% between 0.49% and 1.38% 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 fair value of awards granted in the 12 months ended October 31, 2020, as determined using the Monte Carlo simulation was $2.67 and the fair value of awards granted using the share price at the date of grant was $4.65. b) Additional Share grants 12 months ended October 31, 2020 12 months ended October 31, 2019 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 1 461 3,215 3,676 - 3,062 7,427 10,489 - Granted - - - - - 458 458 - Exercised (15 ) - (15 ) - (2,601 ) - (2,601 ) - Surrendered - (2,385 ) (2,385 ) - - - - - Lapsed - (830 ) (830 ) - - (4,670 ) (4,670 ) - Outstanding at October 31 446 - 446 - 461 3,215 3,676 - Exercisable at October 31 446 - 446 - 461 - 461 - 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. These TAG ASG options vested in full. As at October 31, 2020, 445,917 (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. 2,385,000 awards were surrendered by the Executive Directors in the year. The remaining HPE ASG awards lapsed in full on July 7, 2020 due to the performance conditions not being met. The amount charged to the Consolidated statement of comprehensive income in respect of the ASGs was $3.9 million for the 12 months ended October 31, 2020 (2019: $30.6 million). In addition to this $nil (2019: $1.7 million 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, 2020. October 31, 2020 October 31, 2019 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 - 446 4.1 - 3,676 7.3 - 446 4.1 - 3,676 7.3 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 25 July 2006. The Group operates two all-employee plans are the Micro Focus Sharesave Plan 2006 (“Sharesave”) for UK and Ireland based employees and the Micro Focus Employee Stock Purchase Plan 2006 (“ESPP”) for employees in all other locations. 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 (for Sharesave this can be up to 20% of the market value of the shares on grant and for ESPP, this can be up to 15% of the market value of the shares on grant or maturity, whichever is lower). 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, 2020. Sharesave 12 months ended October 31, 2020 12 months ended October 31, 2019 Number Weighted Number Weighted of average of average options exercise price options exercise price ‘000 pence ‘000 pence Outstanding at November 1 438 1,221 496 1,185 Exercised - 1,023 (81 ) 1,171 Forfeited (912 ) 855 (102 ) 1,297 Granted 2,409 338 125 1,374 Outstanding at October 31 1,935 293 438 1,221 Exercisable at October 31 - - 62 1,461 Number of options ‘000 Date of grant Exercise price per share pence Exercise period 8 February 23, 2018 1,720.0 April 1, 2021 – September 30, 2021 1 February 23, 2018 1,963.0 April 1, 2021 – September 30, 2021 33 August 3, 2018 1,023.0 October 1, 2021 – March 31, 2022 1 August 3, 2018 1,159.0 October 1, 2021 – March 31, 2022 10 March 7, 2019 1,344.0 April 1, 2022 – September 30, 2022 1 March 7, 2019 1,533.0 April 1, 2022 – September 30, 2022 2 August 5, 2019 1,411.0 October 1, 2021 – March 31, 2023 7 August 5, 2019 1,574.3 October 1, 2021 – August 4, 2022 83 March 5, 2020 617.7 April 1, 2023 – September 30, 2023 8 March 5, 2020 728.2 April 1, 2023 – September 30, 2023 1,680 August 21, 2020 241.3 October 1, 2023 – March 31, 2024 101 August 21, 2020 241.1 October 1, 2023 – March 31, 2024 1,935 c) Sharesave and Employee Stock Purchase Plan 2006 ESPP 12 months ended October 31, 2020 12 months ended October 31, 2019 Number of options Weighted average exercise price Number of options Weighted average exercise price ‘000 ‘000 ‘000 pence Outstanding at November 1 1,192 1,182 800 1,047 Exercised (1,472 ) 1,027 (17 ) 1,114 Forfeited (423 ) 1,082 (44 ) 1,440 Granted 2,958 660 453 1,444 Outstanding at October 31 2,255 617 1,192 1,182 Exercisable at October 31 - - - - Number of options ‘000 Date of grant Exercise price per share pence Exercise period 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 689 March 1, 2020 635.9 March 1, 2022 – May 31, 2022 1,113 October 1, 2020 270.2 October 1, 2022 – December 31, 2022 2,255 The amount charged to the Consolidated statement of comprehensive income in respect of the Sharesave and ESPP was $5.1 million for the 12 months ended October 31, 2020 (2019: $2.8 million). The weighted average fair value of options granted under Sharesave and ESPP during the 12 months ended October 31, 2020 determined using the Black-Scholes valuation model was £1.27 (2019: £5.93). The significant inputs into the model for the 12 months ended October 31, 2020 were: 12 months ended October 31, 2020 12 months ended October 31, 2019 Weighted average share price at the grant date £4.38 £17.56 Expected volatility between 57.72% and 72.37% between 49.06% and 49.68% Expected dividend yield between 8.22% and 16.11% between 4.63% and 5.87% Expected option life two or three years two or three years Annual risk-free interest rate between 0.20% and 0.52% between 0.49% and 1.16% The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years. |
Contingent liabilities
Contingent liabilities | 12 Months Ended |
Oct. 31, 2020 | |
Contingent liabilities [Abstract] | |
Contingent liabilities | 30 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 consolidated 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 the complaint in one lawsuit has been dismissed and plaintiffs are now seeking an appeal, and the other lawsuit is still at an early stage in proceedings and it is too soon to estimate whether there will be any financial impact. Patent litigation On July 2, 2018, Wapp Tech Limited Partnership and Wapp Tech Corp. (collectively, “Wapp”) sued Micro Focus International plc in the Eastern District of Texas, accusing it of infringing claims of three patents in connection with Micro Focus International plc’s purported manufacture and sale of certain products in the ADM product line, including LoadRunner and Performance Center. Wapp also sued HPE, Wells Fargo & Company, and Bank of America Corporation for their alleged use of the same accused products. On August 13, 2019, the Texas court dismissed Micro Focus International plc for lack of personal jurisdiction, but granted Wapp’s request to amend its complaint to name Micro Focus International plc subsidiaries Seattle SpinCo, Inc., EntIT Software LLC, EntCo Interactive (Israel) Ltd., EntCo Government Software LLC, and Micro Focus (US) Inc. (collectively, the “Subsidiary Defendants”) as defendants. On August 20, 2019, Wapp filed an amended (and operative) complaint in that case naming the Subsidiary Defendants as defendants. The Court stayed the cases against HPE, Bank of America, and Wells Fargo. On December 11, 2020, Micro Focus filed a motion for summary judgment, which the Court denied on January 14, 2021. On December 18, 2020, the case was mediated but did not settle. The Final Pretrial Conference is scheduled for February 2021, and the Micro Focus trial is set for March 1, 2021. Micro Focus’ defences against liability include that the patent claims are not infringed, and that the patent claims are invalid. These infringement and invalidity claims will be contested on their merits at trial. Due to the Group’s assessment that the asserted patent claims are not infringed and/or are invalid, no provision is recorded for this matter, however as the outcome of the trial is uncertain we have disclosed this potential obligation. |
Related party transactions
Related party transactions | 12 Months Ended |
Oct. 31, 2020 | |
Related party transactions [Abstract] | |
Related party transactions | 31 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 members of the executive committee including executive directors) is set out in note 29. 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 22. - Sales and purchases of goods and services between related parties are not considered material. |
Discontinued operation
Discontinued operation | 12 Months Ended |
Oct. 31, 2020 | |
Discontinued operation [Abstract] | |
Discontinued operation | 32 Discontinued operation 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 $2.5 billion 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 $2.5 billion, subject to customary closing adjustments. Following this vote, all applicable antitrust, competition, merger control and governmental clearances was obtained. The sale was completed in the prior year (March 15, 2019) and the SUSE business segment was treated as discontinued in the prior year financial statements and in the comparatives of these financial statements. Discontinued operation – Financial performance 12 months ended October 31, 2020 12 months ended October 31, 2019 Before Exceptional Items Exceptional Items Total Before Exceptional Items Exceptional Items Total $m $m $m $m $m $m Revenue - - - 127.0 - 127.0 Operating costs - - - (89.3 ) - (89.3 ) Operating profit - - - 37.7 - 37.7 Share of results of associate - - - (0.3 ) - (0.3 ) (Loss)/profit on disposal of the SUSE business - (3.0 ) (3.0 ) - 1,767.9 1,767.9 (Loss)/profit before taxation - (3.0 ) (3.0 ) 37.4 1,767.9 1,805.3 Taxation 7.3 0.8 8.1 (8.7 ) (309.4 ) (318.1 ) Profit for the year from discontinued operation 7.3 (2.2 ) 5.1 28.7 1,458.5 1,487.2 The profit on disposal of the SUSE business for the 12 months ended October 31, 2020 related to conclusion of the working capital settlement and adjustments in respect of income tax balances owed in respect of pre-transaction periods . The cash flow statement shows amounts related to the discontinued operations: 12 months ended October 31, 2020 12 months ended October 31, 2019 $m $m Net cash inflows from operating activities - 18.6 Net cash outflows from investing activities 1.3 - Net cash flows from financing activities - - In the prior year, on March 15, 2019, the Group disposed of the SUSE business for $2,540.3 million. 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 was calculated as follows: $m Disposal proceeds 2,540.3 Costs to sell recognized in the year (45.3 ) Disposal proceeds, less costs to sell recognized in the year 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 prior year in profit for the year from discontinued operations in the Consolidated statement of comprehensive income. All cash flows occurred in the prior year. 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 $20 million 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 Manager (“ESKM”) product line, and related supporting assets, including applicable patents and other IP. In the prior year, on November 5, 2018, the Group disposed of the Atalla business for a net cash consideration of $20.0 million. 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 was recorded as exceptional (note 4) in the prior year and in the comparatives of these financial statements was 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, 2020 | |
Acquisitions [Abstract] | |
Acquisitions | 33 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, 2020: ATAR Labs 0.9 5.0 1.4 - 7.3 7.3 0.9 5.0 1.4 - 7.3 7.3 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 Acquisitions in the 12 months ended October 31, 2020: 1 ATAR Labs On July 7, 2020, the Group completed the acquisition of ATAR Labs (“ATAR Labs”). ATAR Labs integrates into the ArcSight portfolio to create a fast-acting environment against threats with top-of-the-line capabilities. Total consideration of $7.3 million consists of initial consideration of $6.0 million with a further deferred consideration payment of $1.3 million to be paid in two yearly instalments. 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 $1.7 million of assets and $0.8 million of liabilities. A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Carrying value at acquisition Fair value adjustments Fair value Note $m $m $m Intangible assets – purchased 1 11 1.6 5.0 6.6 Other current assets 0.1 - 0.1 Borrowings (0.1 ) - (0.1 ) Provisions – short-term 21 (0.4 ) - (0.4 ) Deferred income – short-term (0.3 ) - (0.3 ) Net assets 0.9 5.0 5.9 Goodwill (note 10) 1.4 Consideration 7.3 Consideration satisfied by: Cash 6.0 Deferred consideration to be settled in cash 1.3 7.3 The fair value adjustments relate to: 1 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 completion payment of $85.0 million, working capital adjustments and net cash adjustments. The Group did 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 $5.5 million of assets and $4.6 million of liabilities. 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 February 15, 2020. No adjustments were identified 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 21 (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 $61.2 million ($44.5 million Technology, $4.2 million Trade names, $12.5 million 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 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 $70.1 million 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 $m $m $m Intangible assets 72.8 6,467.0 6,539.8 Property, plant and equipment 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 (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 (39.0 ) - (39.0 ) Retirement benefit obligations (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 - 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 $4,858.3 million has been capitalized. The Group made a repayment of working capital in respect of the HPE Software business acquisition of $225.8 million in the period. Trade and other receivables are net of a provision for impairment of trade receivables of $21.5 million. Acquisitions in the year ended October 31, 2018 : 1 Acquisition of the HPE Software business 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: 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 $16.7 million consists of a completion payment of Euro 11.3 million, retention amounts of Euro 2.7 million 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 $5.6 million, deferred tax liabilities of $3.9 million, purchased intangibles of $14.0 million (Purchased Technology $1.5 million, Customer relationships $12.3 million and Trade names $0.2 million) and cash of $1.0 million 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 $2.5 million 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. |
Cash Flow Statement
Cash Flow Statement | 12 Months Ended |
Oct. 31, 2020 | |
Cash Flow Statement [Abstract] | |
Cash Flow Statement | 34. Cash flow statement 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Cash flows from operating activities (Loss)/profit from continuing operations (2,974.6 ) (18.1 ) 707.2 Profit from discontinued operation 5.1 1,487.2 76.9 (Loss)/profit for the year (2,969.5 ) 1,469.1 784.1 Adjustments for: Loss/(gain) on disposal of discontinued operation 32 3.0 (1,767.9 ) - Net finance costs 6 279.0 255.8 342.7 Taxation – continuing operations 7 34.2 (16.0 ) (673.1 ) Taxation – discontinued operation 32 (8.1 ) 318.1 34.2 Share of results of associates 28 - 0.3 1.8 Operating (loss)/profit (attributable to continuing and discontinued operations) (2,661.4 ) 259.4 489.7 - continuing operations (2,661.4 ) 221.7 376.8 - discontinued operation 32 - 37.7 112.9 (2,661.4 ) 259.4 489.7 Goodwill impairment charge 10 2,799.2 - - Research and development tax credits (1.8 ) (1.2 ) (2.0 ) Depreciation of property, plant and equipment 1 12 42.0 52.6 71.2 Depreciation of right-of-use asset (2019 and 2018: finance lease depreciation) 1 19 76.9 13.9 17.4 Loss on disposal of property, plant and equipment 12 5.6 3.6 4.7 Loss on disposal of intangible assets 11 0.6 - - Gain on disposal of Atalla 32,4 - (3.7 ) - Amortization of intangible assets 11 674.1 716.5 943.3 Amortization of contract-related costs 16.1 10.2 - Leases impairment 19 5.9 - - Share-based compensation charge 29 17.0 71.3 72.2 Foreign exchange movements 3 29.7 11.1 (34.6 ) Provisions movements 21 46.3 43.8 142.8 Changes in working capital Inventories 0.1 - 0.1 Trade and other receivables 262.0 183.0 (408.8 ) Increase in contract-related costs (26.5 ) (36.7 ) - Payables and other liabilities (69.8 ) (114.8 ) 131.3 Provision utilization 21 (37.5 ) (58.6 ) (145.0 ) Contract liabilities - deferred income (103.1 ) (98.5 ) 131.4 Pension funding difference to operating profit charge 7.4 4.4 4.0 Cash generated from operations 1,082.8 1,056.3 1,424.3 1 |
Related undertakings
Related undertakings | 12 Months Ended |
Oct. 31, 2020 | |
Related undertakings [Abstract] | |
Related undertakings | 35 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, 2020. 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. As disclosed in note 28 the Group owns 100% of all subsidiary undertakings. 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 In liquidation 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 In liquidation 1 4 Autonomy Systems Australia Pty Limited Australia Ordinary Shares AU$1.00 In liquidation 1 5 Borland Australia Pty Limited Australia Ordinary Shares AU$1.00 In liquidation 1 6 Entco Australia Pty Limited Australia Ordinary Shares AU$1.00 In liquidation 1 7 Micro Focus Australia Pty Ltd 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 In liquidation 1 10 Micro Focus Austria GmbH (formerly 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 Belgium Ordinary Shares Sale and support of software 3 13 Micro Focus Srl 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 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 Ltda 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 5 20 Verity Worldwide Limited British Virgin Islands Ordinary shares US$50,000.00 Sale and support of software 7 21 Micro Focus APM Solutions Limited (EOOD) Bulgaria Ordinary Shares BGN1,000.00 Development of software 8 22 Micro Focus Bulgaria EOOD Bulgaria Ordinary Shares BGN1.00 Sale and support of software 8 23 Autonomy Systems (Canada) Limited Canada Class A Common Stock Sale and support of software 9 24 GWAVA ULC Canada Common Stock Holding Company 10 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 25 Micro Focus (Canada) ULC Canada Common Shares Development, sale and support of software 10 26 Interset Software ULC Canada Common Shares Holding Company 11 27 Micro Focus Software (Canada), ULC Canada Common Shares Sale and support of software 12 28 Micro Focus Software Solutions Canada Co. / Solutions Logiciels Micro Focus Canada Cie. Canada Common Shares Sale and support of software 13 29 NetManage Canada ULC Canada Common Shares Dormant 10 30 Entco Capital Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 14 31 Entco Investment Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 14 32 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 14 33 Micro Focus IP Limited Cayman Islands Class A Ordinary Shares €0.01 Class B Preferred Redeemable Shares €0.01 Holding Company 14 34 Entco Marigalante Limited Cayman Islands Ordinary Shares US$1.00 Sale and support of software 14 35 Autonomy Systems (Beijing) Limited Company China Registered Capital Sale and support of software 15 36 Shanghai Micro Focus Software Technology Co. Limited (formerly Shanghai Entco Software Technology Co., Limited) China Registered Capital Sale and support of software 16 37 Shanghai Micro Focus Software Technology Co. Limited (formerly Shanghai Entco Software Technology Co., Limited), Beijing Branch China Branch Sale and support of software 17 38 Shanghai Micro Focus Software Technology Co. Limited (formerly Shanghai Entco Software Technology Co., Limited), Chongqing Branch China Branch Sale and support of software 18 39 Shanghai Micro Focus Software Technology Co. Limited( formerly Shanghai Entco Software Technology Co., Limited), Shenzhen Branch China Branch Sale and support of software 19 40 Shanghai Micro Focus Software Technology Co. Limited( formerly Shanghai Entco Software Technology Co., Limited), Shangdong Branch China Branch Sales and support of software 20 41 Singapore Micro Focus Pte Ltd Shanghai Representative Office China Branch Sale and support of software 21 42 UK Micro Focus Limited Beijing Representative Office China Branch Sale and support of software 22 43 Micro Focus CentroAmerica CAC Limiteda Costa Rica Quota CRC1,000.00 Sale and support of software 23 44 Micro Focus Costa Rica Limiteda Costa Rica Quota CRC1,000.00 Sale and support of software 23 45 NetIQ Software International Limited Cyprus Ordinary Shares of C£1.00 Dormant 24 46 Micro Focus Czechia s.r.o Czech Republic Registered Capital Sale and support of software 25 47 Micro Focus Denmark, filial af Micro Focus AS, Norge (Branch) Denmark Branch Sale and support of software 26 48 Micro Focus Software Denmark ApS Denmark Ordinary Shares DKK1.00 Sale and support of software 26 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 49 Micro Focus AS, Filial i Finland (Branch) Finland Branch Sale and support of software 27 50 Borland (France) Sarl France Ordinary Shares €15.25 Sale and support of software 28 51 Cobol-IT, SAS France Ordinary Shares €1.00 Sale and support of software 28 52 Micro Focus France SAS France Ordinary Shares €1.00 Sale and support of software 29 53 Micro Focus SAS France Ordinary Shares €10.00 Sale and support of software 28 54 Attachmate Group Germany GmbH Germany Ordinary Shares €191,000.00 Sale and support of software 30 55 Borland GmbH Germany Ordinary Shares €49,500.00 Ordinary Shares €450,000.00 Ordinary Shares €100,000.00 Ordinary Shares €500.00 Dormant 30 56 GWAVA EMEA GmbH Germany Registered Capital Sale and support of software 31 57 Micro Focus Deutschland GmbH Germany Registered Capital Sale and support of software 30 58 Micro Focus GmbH Germany Registered Capital Sale and support of software 30 59 Novell Holdings Deutschland GmbH Germany Registered Capital Holding Company 30 60 Serena Software GmbH Germany Registered Capital Sale and support of software 32 61 Attachmate (Hong Kong) Limited Hong Kong Ordinary Shares HK$1.00 In liquidation 33 62 Borland (H.K.) Limited Hong Kong Ordinary Shares HK$1.00 In liquidation 33 63 EntCorp Hong Kong Limited Hong Kong Ordinary Shares HK$1.00 Sale and support of software 34 64 Micro Focus Limited Hong Kong (Branch) Hong Kong Branch Sale and support of software 33 65 Micro Focus Software HK Limited Hong Kong Ordinary Shares HK$10.00 Sale and support of software 33 66 NetIQ Asia Ltd. Hong Kong Ordinary Shares HK$1.00 In liquidation 33 67 Autonomy Software Asia Private Limited India Equity Shares INR10.00 Sale and support of software 35 68 Borland Software India Private Limited India Equity Shares INR10.00 Dormant 36 69 Entco IT Services Private Limited India Equity Shares INR10.00 Sale and support of software 37 70 Interwoven, Inc., India Branch India Branch Sale and support of software 38 71 Micro Focus India Private Limited India Equity Shares INR10.00 In liquidation 36 72 Micro Focus Software India Private Limited India Equity Shares INR10.00 Development, sale and support of software 36 73 Micro Focus Software Solutions India Private Limited India Equity Shares INR10.00 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 74 Novell India Private Ltd. India Equity Shares INR10.00 In liquidation 40 75 Relativity Technologies Private Limited India Equity Shares INR10.00 In liquidation 36 76 Attachmate Ireland Limited Ireland Ordinary Shares €1.27 Sale and support of software 41 77 Entsoft Holding Ireland Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 41 78 Micro Focus (IP) Ireland Limited Ireland Ordinary Shares US$1.00 Dormant 42 79 Micro Focus (Ireland 1) Limited Ireland Ordinary Shares US$1.00 In liquidation 42 80 Micro Focus (Ireland 2) Limited Ireland Ordinary Shares US$1.00 In liquidation 42 81 Micro Focus Finance Ireland Limited Ireland Ordinary Shares US$1.00 In liquidation 42 82 Micro Focus Galway Limited Ireland Ordinary Shares €1.00 Sale and support of software 41 83 Micro Focus Group Holdings Unlimited Company Ireland Ordinary Shares €1.00 Holding Company 42 84 Micro Focus International Holdings Limited Ireland Ordinary Shares €1.00 Holding Company 42 85 Micro Focus Ireland Limited Ireland Ordinary Shares €1.00 Development, sale and support of software 42 86 Micro Focus Software (Ireland) Limited Ireland Ordinary Shares €1.25 Ordinary Shares US$1.00 Development, sale and support of software 43 87 Micro Focus Software Solutions Ireland Limited Ireland Ordinary Shares €1.00 Sale and support of software 41 88 NetIQ Europe Limited Ireland Ordinary Shares €1.00 Sale and support of software 41 89 NetIQ Ireland Limited Ireland Ordinary Shares €1.00 Holding Company 42 90 Novell Cayman Software International Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 42 91 Novell Cayman Software Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 42 92 Novell Ireland Real Estate Unlimited Company Ireland Ordinary Shares €1.25 A Ordinary Shares €1.25 In liquidation 42 93 Novell Software International Limited Ireland Ordinary Shares US$1.00 Holding Company 42 94 Micro Focus Interactive Israel Ltd Israel Ordinary Shares of NIS1.00 Sale and support of software 44 95 Micro Focus Israel Limited Israel Ordinary Shares NIS1.00 Development and support of software 45 96 Micro Focus Software Israel Ltd Israel Ordinary Shares NIS1.00 Sale and support of software 44 97 N.Y. NetManage (Yerushalayim) Ltd Israel Ordinary Shares NIS1.00 Dormant 46 98 Novell Israel Software International Limited Israel Ordinary Shares NIS1.00 Dormant 47 99 Enterprise Corp Italiana S.r.l. Italy Quota €10,000.00 Sale and support of software 48 100 Micro Focus Italiana S.r.l. Italy Quota €1,000,000.00 Sale and support of software 49 101 Micro Focus Srl Italy Quota €1200,000.00 Sale and support of software 49 102 Serena Software Europe Limited - Italy Branch Italy Branch Sale and support of software 49 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 103 Verity Italia S.r.l. Italy Quota €25,000.00 Sale and support of software 50 104 Entcorp Japan K.K. Japan Ordinary Shares Sale and support of software 51 105 Micro Focus Enterprise Ltd Japan Ordinary Shares Sale and support of software 52 106 Micro Focus LLC Japan Interest in Capital Sale and support of software 52 107 Novell Japan, Ltd Japan Common Stock Sale and support of software 52 108 Serena Software Japan LLC Japan Interest in Capital Sale and support of software 52 109 Micro Focus Luxembourg S.à r.l. Luxembourg Ordinary Shares Sale and support of software 53 110 Verity Luxembourg S.à r.l. Luxembourg Ordinary Shares €25.00 Sale and support of software 54 111 Micro Focus Malaysia Sdn. Bhd. Malaysia Ordinary Shares RM1,000.00 Sale and support of software 55 112 Novell Corporation (Malaysia) Sdn. Bhd. Malaysia Ordinary Shares RM1.00 Sale and support of software 56 113 Micro Focus International Mexico, S. de R.L. de C.V. Mexico Equity Interest Quota MXN1.00 Sale and support of software 57 114 Micro Focus Limited Mexico (Branch) Mexico Branch Sale and support of software 57 115 Micro Focus Software Mexico, S. De R.L. De C.V. Mexico Equity Interest Quota MXN1.00 Sale and support of software 57 116 Micro Focus Software Solutions Mexico, S. de R.L. de C.V. Mexico Equity Interest Quota MXN1.00 Sale and support of software 57 117 Authasas B.V Netherlands Ordinary Shares A €1.00 Sale and support of software 58 118 Autonomy HoldCo B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 119 Autonomy Netherlands BV Netherlands Common Shares €100.00 Sale and support of software 58 120 Borland BV Netherlands Ordinary Shares €5.00 Sale and support of software 58 121 Entco Eastern Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 122 Entco Gatriam Holding B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 123 Entco Holding Berlin B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 124 Entco Holding Hague II B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 125 Entco Sinope Holding B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 126 Entcorp Nederland B.V. Netherlands Ordinary Shares €100.00 Sale and support of software 58 127 Micro Focus B.V. Netherlands Common Shares €100.00 Sale and support of software 58 128 Micro Focus Caribe Holding B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 129 Micro Focus Eastern Holding II B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 130 Micro Focus Enterprise B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 131 Micro Focus HoldCo B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 132 Micro Focus Holding Finance B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 133 Micro Focus Holding Hague B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 134 Micro Focus Holding PR B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 135 Micro Focus International Trade B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 136 Micro Focus Nederland B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 137 Verity Benelux B.V. Netherlands Common Shares of €500.00 Sale and support of software 58 138 Micro Focus Software (New Zealand) Unlimited New Zealand Ordinary Shares Sale and support of software 59 139 Micro Focus AS Norway Ordinary Shares NOK1,602.00 Sale and support of software 60 140 Entcorp Philippines, Inc. Philippines Common Stock PHP1.00 Sale and support of software 61 141 Micro Focus Polska sp. z.o.o. Poland Ordinary Shares PLN500.00 Sale and support of software 62 142 Micro Focus S.L. - Sucursal Em Portugal (Branch) Portugal Branch Sale and support of software 63 143 Novell Portugal - Informática Lda Portugal Ordinary Shares €14,864.18 Ordinary Shares €99.76 Sale and support of software 63 144 Micro Focus Caribe Holding B.V. LLC Branch Puerto Rico Branch Sale and support of software 64 145 Micro Focus Holding PR B.V. LLC Branch Puerto Rico Branch Sale and support of software 65 146 Micro Focus Software Romania SRL Romania Ordinary Shares RON10.00 Sale and support of software 66 147 Limited Liability Company Micro Focus Russian Federation Interest in Capital Sale and support of software 67 148 Micro Focus LLC Saudi Arabia Ordinary Shares SAR50 Sale and support of software 68 149 Autonomy Systems Singapore Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 150 Borland (Singapore) Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 151 Entco Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 152 Mercury Interactive (Singapore) Pte Ltd Singapore Ordinary Shares In liquidation 70 153 Micro Focus Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 154 Micro Focus Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 155 Autonomy Systems Software South Africa Pty Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 71 156 Micro Focus Software South Africa (Pty) Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 72 157 Micro Focus South Africa (Pty) Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 72 158 Micro Focus Korea Limited South Korea Units KRW 5,000 Sale and support of software 73 159 Micro Focus Field Delivery Spain, S.L.U. Spain Ordinary Shares €1.00 Sale and support of software 74 160 Micro Focus S.L.U. Spain Registered Shares €9.00 Sale and support of software 74 161 Micro Focus Software Spain S.L.U. Spain Ordinary Shares €1.00 Sale and support of software 74 162 Micro Focus AS, Norge, filial i Sverige (Branch) Sweden Branch Sale and support of software 75 163 Micro Focus Sverige AB Sweden Quota SEK1.00 Sale and support of software 75 164 Micro Focus Enterprise B.V., Amstelveen, Versoix Branch Switzerland Branch Sale and support of software 76 165 Micro Focus GmbH Switzerland Quotas CHF100.00 Sale and support of software 77 166 Micro Focus International Suisse Sàrl Switzerland Ordinary Shares CHF1,000.00 Sale and support of software 76 167 Micro Focus Schweiz GmbH Switzerland Ordinary Shares CHF100.00 Sale and support of software 77 168 Trilead GmbH Switzerland Ordinary Shares CHF100.00 Sale and support of software 78 169 Interwoven, Inc., Taiwan Branch Taiwan Branch Sale and support of software 79 170 Micro Focus Taiwan Co. Ltd (formerly Novell (Taiwan) Co., Ltd.) Taiwan Ordinary Shares NT$10.00 Sale and support of software 80 171 Micro Focus Enterprise Tunisia SARL Tunisia Ordinary Shares TND10.00 Sale and support of software 81 172 Atarlabs Bilişim Anonim Şirketi Turkey Group A Shares TRY1.0 Development and support of software 82 173 Micro Focus Teknoloji Çözümleri Limited Şirketi Turkey Ordinary Shares TRY25.00 Sale and support of software 83 174 Micro Focus Ukraine, LLC (formerly Serena Software Ukraine LLC) Ukraine Interest in Capital Sale and support of software 84 175 Entco International SARL-Abu Dhabi - Branch United Arab Emirates Branch Sale and support of software 85 176 Entco International SARL-Jebel Ali Free Zone - Branch United Arab Emirates Branch Sale and support of software 86 177 Entco Software Services Middle East FZ-LLC United Arab Emirates Ordinary Shares AED1,000.00 Sale and support of software 87 178 Attachmate Sales UK Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 179 Autonomy Systems Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 89 180 Borland (Holding) UK Ltd United Kingdom Ordinary Shares £1.00 Dormant 88 181 Borland (UK) Limited United Kingdom Ordinary Shares £1.00 Dormant 88 182 Entcorp Marigalante UK Limited United Kingdom Ordinary Shares £1.00 In liquidation 89 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 183 Longsand Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 89 184 Merant Holdings United Kingdom Ordinary Shares £1.00 Holding Company 88 185 Micro Focus (IP) Holdings Limited United Kingdom Ordinary Shares US$1.00 Dormant 88 186 Micro Focus (IP) Ltd United Kingdom Ordinary Shares £1.00 Holding Company 88 187 Micro Focus (US) Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 88 188 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 88 189 Micro Focus Foreign HoldCo Ltd United Kingdom Ordinary Shares £1.00 Holding Company 89 190 Micro Focus Global Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 191 Micro Focus Group Limited United Kingdom Ordinary Shares £1.00 Holding Company 88 192 Micro Focus Holdings Unlimited United Kingdom Ordinary Shares £0.01 Holding Company 88 193 Micro Focus Integration Holdings Limited United Kingdom Ordinary Shares US$1.00 In liquidation 88 194 Micro Focus Integration Limited United Kingdom Ordinary Shares US$1.00 Sale and support of software 88 195 Micro Focus IP Development Limited United Kingdom Ordinary Shares US$1.00 Development and support of software 88 196 Micro Focus Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 197 Micro Focus MHC Limited United Kingdom A Ordinary Shares £0.00001 B Ordinary Shares £0.00001 Holding Company 88 198 Micro Focus Midco Holdings Limited United Kingdom Ordinary Shares US$0.01 Holding Company 88 199 Micro Focus Midco Limited United Kingdom Ordinary Shares US$0.0001 Holding Company 88 200 Micro Focus Situla Holding Ltd United Kingdom Ordinary Shares £1.00 Holding Company 89 201 Micro Focus Software (IP) Holdings Limited United Kingdom Ordinary Shares US$0.01 Preferred Shares US$1.00 Holding Company 88 202 Micro Focus Software Holdings Ltd United Kingdom Ordinary Shares £1.00 Sale and support of software 88 203 Micro Focus Software UK Ltd United Kingdom Ordinary Shares £1.00 Sale and support of software 89 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 204 Micro Focus UK Limited United Kingdom Ordinary Shares £1.00 Dormant 88 205 NetIQ Limited United Kingdom Ordinary Shares £1.00 In liquidation 88 206 Serena Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 88 207 Serena Software Europe Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 208 Attachmate Corporation United States Common Stock US$0.01 Development and support of software 90 209 Borland Corporation United States Common Stock US$0.01 Holding Company 91 210 Borland Software Corporation United States Common Stock US$0.01 Development and support of software 91 211 Borland Technology Corporation United States Common Stock US$0.01 Dormant 91 212 Entco Delaware LLC United States Interest in Capital Sale and support of software 91 213 Entco, LLC United States Interest in Capital Sale and support of software 91 214 GWAVA Technologies Inc. United States Common Stock of US$1.00 Sale and support of software 91 215 MA FinanceCo., LLC United States Membership Units Holding Company 91 216 Marcel Holdings LLC United States Limited Liability Company Interest US$1.00 Sale and support of software 91 217 Micro Focus (US) Group, Inc United States Common Stock US$0.01 Holding Company 91 218 Micro Focus (US) International Holdings, Inc. United States Common Stock US$0.01 Holding Company 91 219 Micro Focus (US), Inc. United States Common Stock US$0.01 Development and support of software 91 220 Micro Focus Brazil Holdings LLC United States Interest in Capital Holding Company 91 221 Micro Focus Government Solutions LLC United States Interest in Capital Sale and support of software 91 222 Micro Focus LLC United States Limited Liability Company Interests Sale and support of software 91 223 Micro Focus Software Inc. United States Voting Common Stock US$0.01 Non-voting Common Stock US$0.01 Development and support of software 91 224 NetIQ Corporation United States Common Stock US$0.001 Development and support of software 91 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 225 Novell Holdings, Inc. United States Common Stock US$0.01 Holding Company 91 226 Novell International Holdings, Inc. United States Common Stock US$0.01 Holding Company 91 227 Seattle SpinCo, Inc. United States Class A Common Stock US$0.01 Class B Common Stock US$0.01 Holding Company 91 228 Serena Software, Inc. United States Common Stock US$0.01 Holding Company 91 229 Stratify, Inc. United States Common Stock US$0.001 Sale and support of software 91 230 The Attachmate Group, Inc. United States Common Stock US$0.001 Holding Company 91 231 Vertica Systems, LLC United States Limited Liability Company Interests Sale and support of software 91 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 Andar, Saõ 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 Estera Corporate Services (BVI) Limited, Jayla Place Wickhams Cay 1, Road Town, Tortola, Virgin Islands, British 8 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria 9 200-204 Lambert Street, Whitehorse, Y1A 3T2, Canada 10 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada 11 Suite 1700, Park Place, 666 Burrard Street, Vancouver BC V6C 2X8, Canada 12 4300 Bankers Hall West, 888 - 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada 13 Cogswell Tower, 2000 Barrington Street, Suite 1101-C., Halifax NS B3J 3K1 , Canada 14 Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands 15 Unit 601, Block A, Yuanyang International Center, Building 56, Dong Si Huan Zhong Dong Road, Beijing, Chaoyang District, China 16 Floor 2, Building 1, No. 799 Naxian Road, Pilot Free Trade Zone, Shanghai, China 17 8 Guangshun Avenue South, B01, 3F, Building 1, Chaoyang District, China 18 No. 209, Chuangxin Plaza, No. 5 Keyuanyi Road, Jiulongpo District, Chongqing, China 19 14/F, Office 1436, Times Financial Center, 4001 Shennan Avenue, Futian District, Shenzhen, Guangdong, 518046, China 20 1807-1811, 18th Floor, Kechuang Building, interchange of Yingxiong Mountain Road and 2nd Ring South Rd, Shizhong District, Jinan, Shangdong, China 21 Room 810, 8 /F, Tower B, No.8 Century Avenue, Shanghai Pilot Free Trade Zone, China 22 Unit 04,B01,3rd Floor, 101 1st Floor, No.1 building, No.8 Yard Guangshun South Avenue, Chaoyang District, Beijing, China 23 San José, Cantón Montes de Oca, Distrito San Pedro, cincuenta metros al sur del Restaurante Le Chandelier, Edificio Blanco, Costa Rica 24 54 Digeni Akrita, Akritas 2nd Floor, Office 201-202, PC 1061, Nicosia, Cyprus 25 Za Brumlovkou 1559/5, Michle, Prague, 140 00, Czech Republic 26 Borupvang 3, 2750, Ballerup, Denmark 27 Accountor Turku Oy, Yliopistonkatu 34,5 krs, Turku FI-20100 28 Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris, 92911, France Consolidated financial statements and notes Notes to the consolidated financial statements 35 Related undertakings Registered office addresses Number Address 29 Tour Carpe Diem, 31 Place des Corolles, 92400, Courbevoie, France 30 Herrenberger Strasse 140, 71034, Böblinge, Germany 31 Von-Braun-Strabe 38a, 48683 Ahaus, Germany 32 Nöerdlicher Zubringer 9-11, 40470 Düsseldorf, Germany 33 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong 34 19th Floor, Cityplaza One, 1111 King’s Road, Taikoo Shing, Hong Kong 35 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 36 Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India 37 4th Floor, Bagmane Tech Park, Olympia Building Survey Nos. 66/1, 66/66-1 & 66/1-3, CV Raman Nagar, Bangalore, 560093, India 38 602 MMTC House C-22 Bandra Kurla Complex Bandra East, Mumbai, MH 400051, India 39 66/1, 6th Floor, Olympia Building, Bagmane Tech Park, Byrasandra, C V Raman Nagar, Bangalore, Karnataka, 560093, India 40 Leela Galleria, 1st Floor, Andheri Kurla Road, Andheri(East), Mumbai - 400059, Maharashtra, India 41 Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, Ireland 42 One Spencer Dock, North Wall Quay, Dublin 1, Ireland 43 Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland 44 5 Altalef St., Yahud, Israel 45 Matam Advanced Tech Center, Building 5/1, Haifa, 31 905, Israel 46 Scientific Industries Center, Haifa, 33263, Israel 47 17 Hatidhar St., Raannana, 43665, Israel 48 Via Filippo Turati 8, 20121, Milan, Italy 49 Viale Sarca 235, 20126, Milan, Italy 50 Via Santa - Maria alla Porta n.9, 20123, Milan, Italy 51 No. 8 Center Plaza Bldg, 5F, 1-10-16 Horidomecho Nihonbashi, Chuo-ku, Tokyo 103-0012, Japan 52 Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan 53 20, rue des Peupliers, L-2328 Luxembourg, Luxembourg 54 15, Boulevard F.W. Raiffeisen, L - 2411, Luxembourg 55 Level 11 , 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, 50470 59200 Kuala Lumpur, Malaysia 56 Unit 501 Level 5 Uptown 1, 1 Jalan SS2, Selangor Darul Ehsan, Malaysia 57 Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico 58 Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands 59 Level 26, PWC Tower, 15 Customs Street West, Auckland, 1010, New Zealand 60 7th Floor, Dronning Eufemias Gate 16, 0191 Oslo, Norway 61 2/F Three World Square, Upper Mckinley Road, Taguig City, Philippines 62 Centrum Biurowe Globis, Powstańców Śląskich 7A, 53-332, Wrocław, Poland 63 Centro Empresarial Torres de Lisboa, Rua Tomás da Fonseca, Torre G, 1.º, 1600-209 Lisbon, Portugal 64 110 Highway North Km. 28, Bldg. #1, Aguadilla, 00603, Puerto Rico 65 350 Chardon Avenue, Chardon Tower, Suite 801, San Juan, 00918, Puerto Rico 66 2nd District, 3 George Constantinescu Street, BOC Office Building, Bucharest, Romania 67 Leningradskoye shosse 16 A, Building 3, floor 10, premise XV, room 16, 125171, Moscow, Russian Federation 68 Regus Al-Nakheel Centre, Nimr Building A (1st Floor), 5176 Al-Imam Saud Ibn Abdul Aziz Road, Al Nakheel District, Saudi Arabia 69 #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, Singapore 70 450 Alexandra Road, Singapore 119960, Singapore 71 78 Sophia Street, Fairland, 2195, South Africa 72 Morning View Office Park 255 Rivonia Road, Morningside, South Africa 73 Yeoidodong, SK Building, 15F, 31 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, Korea 74 Torre Espacio, Planta 16, Paseo de la Castellana, 259D, 28046 Madrid, Spain 75 Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden 76 Chemin Jean-Baptiste Vandelle 3A, 1290 Versoix, Switzerland 77 Wallisellen Business Park, Offices 201-204, Richtistrasse 7, 8304, Wallisellen, Switzerland 78 C/O Centralis Switzerland GmbH, Bahnhofstrasse 10, 6300 Zug, Switzerland 79 10F.-1 No.66, Jing Mao 2nd Road, Nangang Distric, Taipei City, 115, Taiwan 80 9F No 200, Sec. 1, Keelung Road, Xinyl Dist, Taipei City 110, Taiwan 81 ZI Chotrana, Technopole El Ghazala, Lot No 45, Ariana, 2088, Tunisia 82 Üniversiteler Mahallesi 1605 Cad. No: 3A, Çankaya, Ankara, Turkey 83 AND Plaza Kozyatağa İçerenköy Mahallesi Umut Sk. 10/12, Kat: 16 34752 Ataşehir/İstanbul, Turkey 84 13 Pimonenko str., building 1, Office 1B/22, Kiev 04050, Ukraine 85 Al Hilal Building, Al Falah Road, Office 318, Abu Dhabi, United Arab Emirates 86 JAFZA One building, Unit No. AB 1005, Jebel Ali Free Zone, Dubai, United Arab Emirates 87 1204 - 1205, Floor 12 Al Shatha Tower, Dubai, United Arab Emirates 88 The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom 89 Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom 90 C T Corporation System, 711 Capitol Way S, Suite 204, Olympia 98501, United States 91 The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA |
Significant Accounting polici_2
Significant Accounting policies (Policies) | 12 Months Ended |
Oct. 31, 2020 | |
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”), in accordance with international accounting standards in conformity with the requirements of the Companies Act and in accordance with international financial reporting standards adopted pursuant to Regulation (EC) No 1606/2002 as it applies in the European Union (“IFRSs as adopted by the EU”). 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 12-month and 18-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 judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement 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 judgements”. 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 12 months ended October 31, 2019 apart from standards, amendments to or interpretations of published standards adopted during the year, as set out in Accounting Policy W “Adoption of new and revised IFRS”. Going concern In line with IAS 1 ‘Presentation of financial statements’ and the FRC guidance on “risk management, internal control and related financial and business reporting”, management has taken into account available information about the future for a period of at least, but not limited to, 12 months from the date of approval of the consolidated financial statements when assessing the Group’s ability to continue as a going concern. This assessment covers the period to February 2022, which is consistent with the FRC guidance. Item 5.A and Item 5.B includes information on our Group financial results, cash flow and net debt, and the balance sheet position. In making this assessment, the directors considered the Group’s liquidity and solvency position. Whilst the Group has quarterly instalment payments due and, dependent on leverage, may be subject to an excess cash sweep against its external borrowing in the period to February 2022 the Group has no term loans maturing until June 2024 (see note 8 “Borrowings” for an analysis of borrowing maturity and additional details on repayment requirements). The Revolving Facility was undrawn at October 31, 2020 and the Group had $737.2 million of cash balances at October 31, 2020 providing total liquidity of $1,087.2 million. The Group’s Revolving Facility is subject to a net leverage covenant when it is more than 35% drawn at the quarter end (see note 10 “Financial risk management and instruments” for additional details). Under the Group’s forecasts the Revolving Facility is not forecast to be drawn in the period to February 2022 and therefore no covenant tests are expected to apply. The Group manages solvency and liquidity as part of its budgeting and performance management. The Group’s forecasting and planning cycle consists of a budget and a long-range plan which are used to generate income statement and cash flow projections. The cash flow projections also forecast the headroom on the Group’s undrawn Revolving Facility and expected net leverage. Actual and forecast liquidity are reviewed at least weekly by the Group’s working capital management group which reports to the Chief Financial Officer. Also in assessing liquidity, the board considered the reported net current liability position of $246.5 million at October 31, 2020. This is the result of $981.4 million of advance billing for services which is required to be recognised as a contract liability. The cost of delivering these services is fully included in the Group’s forecasting and sensitivities. COVID-19 and sensitivity In assessing going concern the Group has estimated the financial impact of severe but plausible scenarios, which take into account the Group’s principal risks, impacting both revenue and Adjusted EBITDA, including a greater than forecast level of exceptional expenditure to complete the Group’s IT implementation being incurred. The impact of COVID-19 on Group’s cash flow in the current year has been limited however the severe but plausible scenarios reflect a wider macro-economic impact from COVID-19 continuing for the entire 12-month going concern assessment period to February 2022. This stress testing confirmed that existing projected cash flows and cash management activities provide us with significant headroom over the going concern assessment period. In addition under the severe but plausible scenarios, there is no point at which the Group would likely need to draw upon the Revolving Facility in the period to February 2022 and therefore no covenant test would be expected to apply. Conclusion Having performed the assessments discussed above, the directors considered it appropriate to adopt the going concern basis of accounting when preparing the Consolidated financial statements. This assessment covers the period to February 2022, which is consistent with the FRC guidance. |
Consolidation | B Consolidation The financial statements of the Group comprise the financial statements of the Company and entities controlled by the Company and its subsidiaries 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 unrealised 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. During the 12-month period ended October 31, 2020, the Group acquired the minority interest remaining in Novell Japan Ltd and as a result held a 100% interest at October 31, 2020. At October 31, 2019 the Group had an 84.24% (2018: 81.05%) interest in Novell Japan Ltd which gave rise to the minority interest reported in these financial statements (note 28 “Non-controlling interests”). |
Assets held for sale and discontinued operations | C Assets held for sale and discontinued operations A Non-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 Non-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 The Group follows the principle-based five-step model in IFRS 15 and recognizes revenue on transfer of control of promised goods or services to customer when, or as the performance obligation is satisfied at 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. Typically, a license deal includes support, a separate performance obligation consisting of: call in assistance and when-and-if available updates. The right to get assistance and updates is not mandatory to use the license. Contracts may also include professional services, which primarily comprise installation, implementation, configuration, advisory services and staff augmentation; these services are available both from the Group and other external service providers. All software is considered off-the-shelf and most services make use of existing configuration functionality and do not modify or customize the source code within the products, nor do they create custom software. The professional service personalize the software to the customer’s requirements and preferences. Customers can benefit from both the software on its own and the subsequent services, individually and together. On this basis, the Group concludes that services are typically distinct from licenses and constitute a separate performance obligation, although this is also assessed on an individual contract basis. 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 licenses, the Group has not established SSP for licenses. 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 licenses. 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, 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 and the performance obligation is satisfied). Licence revenue is considered right to use as the customer receives the right to download and use the software. 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 more than one performance obligation can be identified in the contract, revenue is allocated to each performance obligation, otherwise the Group policy is to recognize 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 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 liabilities. Where consideration is received in advance of satisfying the performance obligation and the performance obligation will be satisfied within one year of receipt of the consideration no significant financing component is recognized. The majority of the Group’s SaaS and maintenance contracts are for periods of one year. In addition, for multi-year contracts where consideration is received in advance, the purpose of the upfront billing is not for the Group to obtain financing, rather to avoid the administrative tasks of subsequent invoicing, cash collection and risk of cancellation. 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 18-month period ended October 31, 2018 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 Adjusted EBITDA as set out in note 1 “Segmental reporting”. |
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, judgement is required to determine what the Group defines as “exceptional”. The Group considers whether an item is exceptional in nature if it is material or 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 programmes. 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 favourable and unfavourable transactions impacting revenue, income and expense. Examples of transactions which may be considered of an exceptional nature include major restructuring programmes, cost of acquisitions, the cost of integrating acquired businesses, gains on the disposal of discontinued operations or impairment charges recognized against goodwill. |
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 behavioural 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 1 May 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 and in the 12 months ended October 31, 2020 also the Indian Rupee and Chinese Yuan. The exchange rates used are as follows: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Average Closing Average Closing Average Closing £1 = $ 1.28 1.30 1.27 1.29 1.33 1.27 €1 = $ 1.13 1.17 1.12 1.12 1.18 1.14 C$ = $ 0.74 0.75 0.75 0.76 0.78 0.76 ILS = $ 0.29 0.29 0.28 0.28 0.28 0.27 INR = $ 0.01 0.01 n/a n/a n/a n/a CNY = $ 0.14 0.15 n/a n/a n/a n/a 100 JPY = $ 0.93 0.96 1.10 1.08 0.90 0.92 |
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 or whenever there is an indication that the asset may be impaired. Goodwill is 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 licenses 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 for perpetual license or based on the agreement for term license. 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 programmes and significant enhancement of existing computer software programmes 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, determined at the acquisition date, 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 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 and customer relationships 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 or whenever there is an indication that the asset may be impaired. 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. |
Trade receivables | N 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 | O 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 | P 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. |
Leases | Q Leases As disclosed in W ‘ Lease accounting policy under IFRS 16 As a lessee When the Group leases an asset a ‘right-of-use asset’ is recognized for the leased item and a lease liability is recognized for any lease payments due over the lease term at the lease commencement date. The right-of-use asset is initially measured at cost, being the present value of the lease payments paid or payable, plus any initial direct costs incurred in entering the lease and less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis from the commencement date to the earlier of the end of the asset’s useful life or the end of the lease term. The lease term is the non-cancellable period of the lease plus any periods for which the Group is ‘reasonably certain’ to exercise any extension options (note 19 “Leases”). The useful life of the asset is determined in a manner consistent to that for owned property, plant and equipment described in L above. If right-of-use assets are considered to be impaired, the carrying value is reduced accordingly. Lease liabilities are initially measured at the value of the lease payments that are not paid at the commencement date and are usually discounted using the incremental borrowing rates of the Group for the relevant portfolio (the rate implicit in the lease is used if it is readily determinable). Lease payments included in the lease liability include both fixed payments and in-substance fixed payments during the term of the lease. After initial recognition, the lease liability is recorded at amortized cost using the effective interest method. It is re-measured when there is a change in future lease payments arising from a change in an index or rate (e.g. an inflation related increase) or if the Group’s assessment of the lease term changes; any change in the lease liability as a result of these changes also results in a corresponding change in the recorded right-of-use asset. As a lessor Where the Group is a lessor, it determines at inception whether the lease is a finance or an operating lease. When a lease transfers substantially all the risks and rewards of ownership of the underlying asset then the lease is a finance lease; otherwise, the lease is an operating lease. Where the Group is an intermediate lessor, the interest in the head lease and the sub-lease is accounted for separately and the lease classification of a sub-lease is determined by reference to the right-of-use asset arising from the head lease. Income from operating leases is recognized on a straight-line basis over the lease term. Income from finance leases is recognized in full at lease commencement. Lease policy in the prior periods under IAS 17 and IFRIC 4 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 | R 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 realised, 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 | S 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 | T 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. Non-derivative financial instruments, such as Euro borrowings, have also been designated as hedges for Net investments in foreign operations. Hedges of a net investment in a foreign operation are accounted for similarly to cash flow hedges. 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, while any material ineffectiveness should be recognized in the statement of comprehensive income. If effectiveness testing is not satisfactorily completed, all fair value movements on the hedging instrument should be recorded in the Consolidated statement of comprehensive income. The IFRS 9 hedge accounting requirements are applicable to the interest swaps and net investment hedges that have been designated for hedge accounting. Hedge accounting is ceased prospectively if the instrument expires or is sold, terminated or exercised; the hedge criteria are no longer met or the forecast transaction is no longer expected to occur. |
Provisions | U Provisions Provisions for onerous contracts, 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 | V 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 | W Adoption of new and revised International Financial Reporting Standards Other than as described below, the accounting policies, presentation and methods of calculation adopted are consistent with those of the Annual Report and Accounts for the 12 months ended October 31, 2019, apart from standards, amendments to or interpretations of published standards adopted during the period. The following standards, interpretations and amendments to existing standards are now effective and have been adopted by the Group. The impacts of applying these policies, except for IFRS 16 “Leases”, which is covered in further detail below, are not considered material: - IFRIC 23, “Uncertainty over Income Tax Treatments”. - 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. - Amendments to IAS 19 “Employee Benefits”. - Annual Improvements 2017 includes amendments to IFRS 3, “Business combinations”, IFRS 11 “Joint arrangements” and IAS 12 “Income taxes”. IFRS 16 “Leases” IFRS 16 “Leases” establishes the principles that an entity should apply to report useful information to the uses of the financial statements about the nature, amount, timing and uncertainty of leases and cash flows associated with leases. Application of this standard was mandatory for annual reporting periods starting from 1 January 2019 onwards and was adopted by the Group on November 1, 2019. The standard replaced IAS 17 “Leases” and IFRIC 4 “Determining whether an Arrangement contains a lease”. Key changes to the accounting policy previously applied and the impact of adoption this on the financial statement at November 1, 2019 are described below. The Group’s new IFRS 16 accounting policy and previous lease accounting policy under IAS 17 “Leases” are disclosed in Q above. IFRS 16 “Leases” was adopted with the cumulative retrospective impact reflected as an adjustment to equity on the date of adoption and therefore the comparative information has not been restated and continues to be reported under IAS 17 and IFRIC 4. The Group has applied the following expedients in relation to the adoption of IFRS 16: • Arrangements were not reassessed to determine whether they are, or contained, 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, a single discount rate has been applied to each lease portfolio; • The Group impaired the right-of-use asset recognized on adoption by the value of the provisions for onerous leases held under IAS 37 “Provisions, Contingent Liabilities and Contingent Assets” at October 31, 2019 instead of performing a new impairment review for those leases at November 1, 2019; • The Group excluded initial direct costs from the measurement of the right-of-use asset at November 1, 2019; • Where the Group measured right-of-use asset as if IFRS 16 had been applied since the inception of the lease, the Group applied hindsight in assessing extension or termination options; and • Where the Group measured the right-of-use asset at an amount equal to the lease liability at November 1, 2019 lease prepayments and accruals previously recognized under IAS 17 at October 31, 2019 were added to and deducted from, respectively, the value of the right-of-use assets on adoption. The key differences between the Group’s IAS 17 accounting policy (the ‘previous policy’ which is disclosed in Q above) and the Group’s IFRS 16 accounting policy (which is also provided in Q above), as well as the primary impacts of applying IFRS 16 in the current financial period are disclosed on below. Primary impacts of applying the IFRS 16 accounting policy The primary impacts on the Group’s financial statements, and the key causes of the movements recorded in the consolidated statement of financial position on November 1, 2019 (see page F-31), as a result of applying the IFRS 16 (‘current’) accounting policy in place of the previous policy are: • Under IAS 17, lessees were classified leases as either operating or finance leases. Operating lease costs were expensed on a straight-line basis over the period of the lease. Finance leases resulted in the recognition, in the statement of financial position, of an asset and a corresponding liability for lease payments, at present value. Under IFRS 16 all lease agreements give rise to the recognition of a ‘right-of-use asset’ representing the right to use the leased item and a liability for any future lease payments (page F-31 and note 19 “Leases”) over the ‘reasonably certain’ period of the lease, which may include future lease periods for which the Group has extension options; • Lessee accounting under IFRS 16 is similar to finance lease accounting for lessees under IAS 17; lease costs are recognized in the form of depreciation of the right-of-use asset and interest on the lease liability. The incremental borrowing rate of the Group for that lease portfolio is generally used for discounting, although the interest rate implicit in the lease is used when it is readily determinable. Interest charges will typically be higher in the early stages of a lease and will reduce over the term. Lease interest costs are recorded in financing costs and associated cash payments are classified as financing cash flows in the Group’s cash flow statement; • Under IFRS 16 cash inflows from operating activities and payments classified within cash flow from financing activities both increase, as payments made at both lease inception and subsequently are characterized as repayments of lease liabilities and interest. Under IAS 17 operating lease payments were treated as an operating cash outflows. Net cash flow is not impacted by the change in policy; lessor accounting under IFRS 16 is similar to IAS 17. The only substantive change is that when the Group sub-leases right-of-use assets it classifies the lease out as either operating or finance leases by reference to the terms of head lease contract whereas under IAS 17 the classification was determined by reference to the underlying asset leased out. This has resulted in additional finance leases (‘net investment in leases’) being recognized under IFRS 16 (see page F-31 and net investment in leases in note 14 “Trade and other receivables”) as the Group only acts as a lessor in relation to under-utilized property leases; • The expedients applied at adoption noted above have resulted in the following changes (page F-31); • reclassifications of lease-related prepayments and accruals at 1 November 2019 to the right-of-use assets where the Group has measured the right-of-use at an amount equal to the liability. • release of lease-related prepayments and accruals at November 1, 2019 against retained earnings where the Group has measured the right-of-use asset as if IFRS 16 had been applied since inception of the lease. • re-classification of onerous leases provisions at November 1, 2019 to the right-of-use assets. Provisions remain for any onerous non-rental contracts related to these properties. During the 12 months ended October 31, 2019, a rental expense of $65.9 million was charged for operating leases and depreciation and interest of $15.9 million was charged for finance leases. During the 12 months ended October 31, 2020, depreciation of $76.9 million and interest of $13.2 million has been charged in relation to all leases. Adoption judgements In adopting, and in the on-going application of, IFRS 16 judgements and estimates were made in relation to the grouping of leases for the purpose of assigning a discount rate and in calculating the discount rates. These judgements and estimates were significant for the Group’s IFRS 16 adoption activities but are not considered critical accounting estimates or judgements for the Group as they are not considered to have a significant effect on the amounts recognized in the Group’s financial statements. Transition disclosures The weighted average incremental borrowing rate applied to the Group’s lease liabilities recognized in the balance sheet at November 1, 2019 is 4.7%. The Group’s undiscounted operating lease commitments at October 31, 2019 were $301.2 million; the most significant differences between the IAS 17 lease commitments and the lease liabilities recognized on transition to IFRS 16 are set out below: $m Operating lease commitments under IAS 17 301.2 Committed leases not commenced 1 (0.3 ) Cost of reasonably certain extensions 1 1.3 Subtotal 302.2 Effect of discounting on payments included in the calculation of the lease liability (excluding finance lease balances) (32.4 ) Subtotal 269.8 Other 2 23.5 Lease liability opening balance to be reported as at November 1, 2019 (IFRS 16) 293.3 1. Undiscounted. 2. Includes Finance lease liabilities already reported under IAS 17. The impact of the adoption of IFRS 16 on the consolidated statement of financial position at November 1, 2019 is set out below. October 31, 2019 Impact of adoption of IFRS 16 November 1, 2019 $m $m $m Non-current assets Goodwill 6,671.3 - 6,671.3 Other intangible assets 5,942.3 (1.8 ) 5,940.5 Property, plant and equipment 140.5 (25.4 ) 115.1 Right-of-use assets - 253.4 253.4 Long-term pension assets 17.1 - 17.1 Contract-related costs 31.5 - 31.5 Other non-current assets 44.0 7.7 51.7 12,846.7 233.9 13,080.6 Current assets Inventories 0.1 - 0.1 Trade and other receivables 1,032.9 0.3 1,033.2 Contract-related costs 19.3 - 19.3 Current tax receivables 40.1 - 40.1 Cash and cash equivalents 355.7 - 355.7 1,448.1 0.3 1,448.4 Total assets 14,294.8 234.2 14,529.0 Current liabilities Trade and other payables 611.0 1.4 612.4 Lease obligations 11.8 74.7 86.5 Provisions 29.3 (4.3 ) 25.0 Current tax liabilities 104.0 - 104.0 Contract liabilities 1,045.9 - 1,045.9 1,802.0 71.8 1,873.8 Non-current liabilities Contract liabilities 149.9 - 149.9 Borrowings 4,670.7 - 4,670.7 Lease obligations 11.7 195.1 206.8 Derivative liability 36.5 - 36.5 Retirement benefit obligations 141.4 - 141.4 Provisions 49.1 (12.4 ) 36.7 Other non-current liabilities 50.4 (10.1 ) 40.3 Current tax liabilities 119.7 - 119.7 Deferred tax liabilities 987.1 (1.8 ) 985.3 6,216.5 170.8 6,387.3 Total liabilities 8,018.5 242.6 8,261.1 Net assets 6,276.3 (8.4 ) 6,267.9 Capital and reserves Share capital 47.2 - 47.2 Share premium account 44.0 - 44.0 Merger reserve 1,739.8 - 1,739.8 Capital redemption reserve 2,485.0 - 2,485.0 Hedging reserve (29.6 ) - (29.6 ) Retained earnings 2,250.7 (8.4 ) 2,242.3 Foreign currency translation deficit (262.1 ) - (262.1 ) Total equity attributable to owners of the parent 6,275.0 (8.4 ) 6,266.6 Non-controlling interests 1.3 - 1.3 Total equity 6,276.3 (8.4 ) 6,267.9 Interpretations and amendments The following interpretations and amendments to existing standards are not yet effective and have not been adopted early by the Group: Effective for periods commencing after January 1, 2020/2021: - 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 the Conceptual Framework, effective for accounting periods beginning after January 1, 2020. EU endorsed November 29, 2019. - Amendments to IFRS 3 Business Combinations, effective January 1, 2020 clarify the definition of a business in acquisitions. EU endorsed January 15, 2020. - Amendments to IAS1 and IAS 8: guidance on the definition of material, effective January 1, 2020 and endorsed by the EU on November 29, 2019. - Amendments to IFRS9, IAS 39, IFRS 7, IFRS 16 and IFRS 4: Interest rate benchmark reforms. Phase 1 effective January 1, 2020 and EU endorsed covers hedge accounting impacts and discontinuance exemptions, while Phase 2 effective January 2021 covers further disclosures on transition to a new benchmark, EU endorsed January 14, 2021. Effective for periods commencing after January 1, 2022: - Annual Improvements cycle 2018-2020 includes relevant amendments clarifying capitalization of transaction fees/ inclusion of specific fees in modification/extinguishment test within IFRS 9 Financial Instruments, subject to EU endorsement. Other included improvement in IFRS 1 (First time adoption) and IAS 41 (agriculture) are not applicable to the Group. - Amendments to IFRS 3 Business combinations, IAS 16 “Property, plant and equipment” and IAS 37 “Provisions, Contingent assets and Contingent liabilities” are all subject to EU endorsement. - Amendments to IAS 37 “Provisions, Contingent assets and liabilities” – guidance on costs in fulfilling onerous contracts, subject to EU endorsement Effective for periods commencing after January 1, 2023, all subject to EU endorsement: - Amendments to IAS 1 “Presentation of financial statements”. Amendment is presentational relates to the classification of liabilities current and non-current. - Amendments to IFRS 17 “Insurance contracts”. Rent concessions is not relevant for the Group. The impact of the amendments and interpretations listed above are not expected to have a material impact on the consolidated financial statements. |
Critical accounting estimates, assumptions and judgments | II Critical accounting estimates, assumptions and judgements In preparing these consolidated financial statements, the Group has made its best estimates and judgements of certain amounts included in the financial statements, giving due consideration to materiality. The Group regularly reviews these estimates and updates them as required. The Group has reviewed its critical accounting estimates, assumptions and judgements considering the impact of COVID-19 and no new critical accounting estimates, assumptions and judgements were identified. COVID-19 has increased the level of uncertainty in making the estimations required in relation to the potential impairment of goodwill and other intangible assets and retirement benefit obligations. Sensitivity analysis of these estimates, including the impact of COVID-19, are included in note 10 “Goodwill” and note 22 “Pension commitments”. COVID-19 has been assessed as having no material impact on the remaining critical estimates, assumptions and judgements disclosed below. Following the adoption of IFRS 16 “Leases” in the current year lease term has been determined as being a critical accounting judgement. 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 judgements, which require the Group to make subjective and complex judgements and matters that are inherently uncertain. Critical accounting estimates A Potential impairment of goodwill and other intangible assets Each year, 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 average 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, the average annual revenue growth rate by product group and the long-term growth rate are provided in note 10 “Goodwill”. 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 22 “Pension commitments”. Critical accounting judgements C Revenue recognition Revenue recognition requires significant use of management judgement to produce financial information. The most significant accounting judgement in applying IFRS 15 are the identification of performance obligations and the determination of the transaction price when the contract contains variable considerations. Judgement is required to (i) identify 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), and (ii) allocate the transaction price to the various performance obligations. 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 “Revenue recognition”, and therefore the judgement impacts the quantum of revenue and profit recognized in a period. D Exceptional item classification The Group classifies items as exceptional in line with Accounting Policy H “Exceptional items”. The classification of these items as an exceptional is a matter of judgement. This judgement 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 judgement 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 judgements of whether additional taxes will be due. Significant issues may take several periods to resolve. In making judgements 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 judgements in the year were related to the EU state aid and UK tax authority challenge in respect of prior periods. Based on their assessment, the directors have concluded that no additional material tax provisions are required with regards to these matters (note 7 “Taxation”). 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 year in which such determination is made. There is not a significant risk that any estimate associated with the provision for income taxes will result in a material change within the next 12 months. F Lease term Where leases include additional optional periods after an initial lease term, significant judgement is required in determining whether these optional periods should be included when determining the lease term. As a lessee, optional periods are included in the lease term if the Group is reasonably certain it will exercise an extension option or will not exercise a termination option; this depends on an analysis by management of all relevant facts and circumstances including the leased asset’s nature and purpose, the economic and practical potential for replacing the asset and any plans that the Group has in place for the future use of the asset. Where it is impractical or uneconomic to replace then the Group is more likely to judge that lease extension options are reasonably certain to be exercised. Where extension options are included in the lease term the greater will be the value of the right-of-use asset and lease liability recognized. The normal approach adopted for lease term by asset class is described below. The lease terms can vary significantly by type and use of asset and geography. In addition, the exact lease term is subject to the non-cancellable period and rights and options in each contract. Generally, lease terms are judged to be the longer of the minimum lease term and: • Up to five years for offices, unless the non-cancellable period exceeds this, with optional extension periods only included in leases expiring in the earlier part of this period and where clear plans to extend the leases are already in place; and • Up to three years for data centres with optional extensions periods, where they exist, included for leases expiring in the next year and for which relocation of the assets located in the data centre is considered uneconomic. For vehicle leases the minimum lease term, typically three to four years, is judged to be the lease term. Extension options for vehicles are not considered reasonably certain as the assets are not highly customized or difficult to replace. |
Significant Accounting polici_3
Significant Accounting policies (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Significant Accounting policies [Abstract] | |
Exchange Rates | The exchange rates used are as follows: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Average Closing Average Closing Average Closing £1 = $ 1.28 1.30 1.27 1.29 1.33 1.27 €1 = $ 1.13 1.17 1.12 1.12 1.18 1.14 C$ = $ 0.74 0.75 0.75 0.76 0.78 0.76 ILS = $ 0.29 0.29 0.28 0.28 0.28 0.27 INR = $ 0.01 0.01 n/a n/a n/a n/a CNY = $ 0.14 0.15 n/a n/a n/a n/a 100 JPY = $ 0.93 0.96 1.10 1.08 0.90 0.92 |
Estimated Useful Lives of Intangible Assets | The estimated useful lives, determined at the acquisition date, 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 |
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 |
Significant Differences between IAS 17 Lease Commitments and Lease Liabilities Recognized on Transition to IFRS 16 | The Group’s undiscounted operating lease commitments at October 31, 2019 were $301.2 million; the most significant differences between the IAS 17 lease commitments and the lease liabilities recognized on transition to IFRS 16 are set out below: $m Operating lease commitments under IAS 17 301.2 Committed leases not commenced 1 (0.3 ) Cost of reasonably certain extensions 1 1.3 Subtotal 302.2 Effect of discounting on payments included in the calculation of the lease liability (excluding finance lease balances) (32.4 ) Subtotal 269.8 Other 2 23.5 Lease liability opening balance to be reported as at November 1, 2019 (IFRS 16) 293.3 1. Undiscounted. 2. Includes Finance lease liabilities already reported under IAS 17. |
Impact of Adoption of IFRS 16 on Consolidated Statement of Financial Position | The impact of the adoption of IFRS 16 on the consolidated statement of financial position at November 1, 2019 is set out below. October 31, 2019 Impact of adoption of IFRS 16 November 1, 2019 $m $m $m Non-current assets Goodwill 6,671.3 - 6,671.3 Other intangible assets 5,942.3 (1.8 ) 5,940.5 Property, plant and equipment 140.5 (25.4 ) 115.1 Right-of-use assets - 253.4 253.4 Long-term pension assets 17.1 - 17.1 Contract-related costs 31.5 - 31.5 Other non-current assets 44.0 7.7 51.7 12,846.7 233.9 13,080.6 Current assets Inventories 0.1 - 0.1 Trade and other receivables 1,032.9 0.3 1,033.2 Contract-related costs 19.3 - 19.3 Current tax receivables 40.1 - 40.1 Cash and cash equivalents 355.7 - 355.7 1,448.1 0.3 1,448.4 Total assets 14,294.8 234.2 14,529.0 Current liabilities Trade and other payables 611.0 1.4 612.4 Lease obligations 11.8 74.7 86.5 Provisions 29.3 (4.3 ) 25.0 Current tax liabilities 104.0 - 104.0 Contract liabilities 1,045.9 - 1,045.9 1,802.0 71.8 1,873.8 Non-current liabilities Contract liabilities 149.9 - 149.9 Borrowings 4,670.7 - 4,670.7 Lease obligations 11.7 195.1 206.8 Derivative liability 36.5 - 36.5 Retirement benefit obligations 141.4 - 141.4 Provisions 49.1 (12.4 ) 36.7 Other non-current liabilities 50.4 (10.1 ) 40.3 Current tax liabilities 119.7 - 119.7 Deferred tax liabilities 987.1 (1.8 ) 985.3 6,216.5 170.8 6,387.3 Total liabilities 8,018.5 242.6 8,261.1 Net assets 6,276.3 (8.4 ) 6,267.9 Capital and reserves Share capital 47.2 - 47.2 Share premium account 44.0 - 44.0 Merger reserve 1,739.8 - 1,739.8 Capital redemption reserve 2,485.0 - 2,485.0 Hedging reserve (29.6 ) - (29.6 ) Retained earnings 2,250.7 (8.4 ) 2,242.3 Foreign currency translation deficit (262.1 ) - (262.1 ) Total equity attributable to owners of the parent 6,275.0 (8.4 ) 6,266.6 Non-controlling interests 1.3 - 1.3 Total equity 6,276.3 (8.4 ) 6,267.9 |
Segmental reporting (Tables)
Segmental reporting (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Segmental reporting [Abstract] | |
Segmental Reporting | The segmental reporting is consistent with that used in internal management reporting and the profit measure used by the Operating Committee is Adjusted EBITDA. 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Reconciliation to Adjusted EBITDA: (Loss)/profit before tax (2,940.4 ) (34.1 ) 34.1 Finance costs 6 281.6 282.4 350.4 Finance income 6 (2.6 ) (26.6 ) (7.7 ) Depreciation of property, plant and equipment 12 42.0 66.5 88.6 Right-of-use asset depreciation 76.9 - - Amortization of intangible assets 11 674.1 716.5 903.1 Exceptional items (reported in Operating (loss)/profit) 4 3,011.6 294.2 538.2 Share-based compensation charge 29 17.0 68.8 64.3 Product development intangible costs capitalized 11 (16.2 ) (16.5 ) (44.4 ) Foreign exchange credit 3 29.7 11.3 (37.4 ) Adjusted EBITDA 1,173.7 1,362.5 1,889.2 |
Supplementary information (Tabl
Supplementary information (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m UK 173.0 206.9 299.6 USA 1,289.8 1,523.0 2,279.8 Germany 218.7 220.7 309.5 Canada 108.0 115.9 178.4 France 101.4 123.3 195.5 Japan 96.9 108.6 145.8 Other 1,013.2 1,050.0 1,345.9 Total 3,001.0 3,348.4 4,754.4 |
Analysis of Revenue from Contracts with Customers | Analysis of revenue from contracts with customers 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Revenue from contracts with customers 3,001.0 3,348.4 4,754.4 Being: Recognized over time: Maintenance revenue 1,920.8 2,051.6 2,818.9 SaaS & other recurring revenue 245.3 278.9 365.1 2,166.1 2,330.5 3,184.0 Recognized at point in time: Licence revenue 646.5 800.0 1,206.1 Consulting revenue 188.4 217.9 364.3 834.9 1,017.9 1,570.4 Total Revenue 3,001.0 3,348.4 4,754.4 |
Analysis of Revenue by Product | Set out below is an analysis of revenue recognized between the principal Product Portfolios for the 12 months ended October 31 2020 with comparatives: 12 months ended October 31, 2020: Licence Maintenance SaaS & other recurring Consulting Total $m $m $m $m $m Application Modernization & Connectivity 138.6 321.6 - 10.1 470.3 Application Delivery Management 102.0 439.2 73.9 15.9 631.0 IT Operations Management 175.1 559.4 4.6 113.9 853.0 Security 162.6 416.8 33.6 33.1 646.1 Information Management & Governance 68.2 184.2 133.4 15.4 401.2 Subtotal 646.5 1,921.2 245.5 188.4 3,001.6 Deferred revenue haircut - (0.4 ) (0.2 ) - (0.6 ) Total Revenue 646.5 1,920.8 245.3 188.4 3,001.0 12 months ended October 31, 2019: Licence Maintenance SaaS & other recurring Consulting Total $m $m $m $m $m Application Modernization & Connectivity 170.9 326.1 - 11.7 508.7 Application Delivery Management 130.3 485.4 87.8 18.2 721.7 IT Operations Management 237.5 645.8 11.0 127.5 1,021.8 Security 185.7 416.7 35.0 43.9 681.3 Information Management & Governance 75.6 183.6 145.9 16.6 421.7 Subtotal 800.0 2,057.6 279.7 217.9 3,355.2 Deferred revenue haircut - (6.0 ) (0.8 ) - (6.8 ) Total Revenue 800.0 2,051.6 278.9 217.9 3,348.4 18 months ended October 31, 2018: Licence Maintenance SaaS & other recurring Consulting Total $m $m $m $m $m Application Modernization & Connectivity 256.3 497.6 - 17.9 771.8 Application Delivery Management 185.5 646.7 114.1 41.6 987.9 IT Operations Management 363.1 869.9 15.1 192.8 1,440.9 Security 291.6 580.2 41.6 81.4 994.8 Information Management & Governance 117.2 267.2 203.1 32.6 620.1 Subtotal 1,213.7 2,861.6 373.9 366.3 4,815.5 Deferred revenue haircut (7.6 ) (42.7 ) (8.8 ) (2.0 ) (61.1 ) Total Revenue 1,206.1 2,818.9 365.1 364.3 4,754.4 |
Profit_(loss)before tax (Tables
Profit/(loss)before tax (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Profit/(loss)before tax [Abstract] | |
Profit/(loss)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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Staff costs 29 1,344.4 1,409.0 2,095.0 Depreciation of property, plant and equipment: 12 42.0 52.6 71.2 Depreciation of right-of-use assets (2019 and 2018: finance lease depreciation) 1 19 76.9 13.9 17.4 Loss on disposal of property, plant and equipment 12 5.6 3.6 4.7 Amortization of intangibles 11 674.1 716.5 903.1 Operating lease rentals payable 1 - plant and machinery - 7.0 8.8 - property - 58.9 85.3 Provision for receivables impairment (release)/charge 14 (4.8 ) 16.0 40.0 Foreign exchange loss/(gain) on derivative financial instruments 21.8 (6.9 ) - Foreign exchange loss/(gain) 7.9 18.2 (37.4 ) 1 |
Exceptional items (Tables)
Exceptional items (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Exceptional items [Abstract] | |
Exceptional Items | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Reported within Operating (loss)/profit: Note $m $m $m Integration costs 152.6 245.9 279.0 Pre-acquisition costs - - 43.0 Acquisition costs 0.2 1.5 27.1 Property-related costs 15.2 16.3 38.1 Severance and legal costs 33.7 32.1 129.7 Other restructuring costs 10.7 - - Divestiture - 2.1 21.3 Goodwill impairment 2,799.2 - - Gain on disposal of Atalla - (3.7 ) - 3,011.6 294.2 538.2 Reported within finance costs: Finance costs incurred in escrow period - - 6.4 Reported within finance income: Finance income earned in escrow period - - (0.6 ) - - 5.8 Exceptional costs before tax 3,011.6 294.2 544.0 Tax: Tax effect of exceptional items (38.7 ) (54.3 ) (105.9 ) Tax exceptional item - - (692.3 ) (38.7 ) (54.3 ) (798.2 ) Reported within profit from discontinued operation (attributable to equity shareholders of the Company): Loss/(gain) on disposal of discontinued operation 32 2.2 (1,458.5 ) - Exceptional costs/(profit) after tax 2,975.1 (1,218.6 ) (254.2 ) |
Services provided by the Grou_2
Services provided by the Group's auditors and network of firms (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
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, 2020, the Group obtained the following services from the Group’s auditors as detailed below: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Audit of Company 7.2 12.8 12.2 ICOFR audit 2.7 3.0 - Audit of subsidiaries 2.9 3.9 1.9 Total audit 12.8 19.7 14.1 Audit-related assurance services 0.6 0.6 0.9 Other assurance services - - 0.7 Total assurance services 0.6 0.6 1.6 Tax compliance services - - 0.2 Tax advisory services - 0.1 0.2 Services relating to taxation - 0.1 0.4 Other non-audit services - - 0.1 Total 13.4 20.4 16.2 |
Finance income and finance co_2
Finance income and finance costs (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Finance income and finance costs [Abstract] | |
Finance Income and Finance Costs | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Finance costs Interest on bank borrowings 176.1 225.4 276.5 Commitment fees 1.7 1.9 3.3 Amortization of facility costs and original issue discounts 58.0 46.7 60.4 Finance costs on bank borrowings 235.8 274.0 340.2 Net interest expense on retirement obligations 22 1.8 2.4 2.8 Interest on lease liabilities 19 13.2 2.0 2.7 Interest rate swaps: cash flow hedges 23.7 - 3.4 Other 7.1 4.0 1.3 Total 281.6 282.4 350.4 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Finance income Bank interest 2.4 16.3 3.6 Interest on non-plan pension assets 22 0.2 0.3 0.6 Interest rate swaps: cash flow hedges - 9.9 - Other - 0.1 3.5 Total 2.6 26.6 7.7 Net finance cost 279.0 255.8 342.7 Included within exceptional items Finance costs incurred in escrow period - - 6.4 Finance income earned in escrow period - - (0.6 ) - - 5.8 |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Taxation [Abstract] | |
Income Tax | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Current tax Current year 175.4 163.9 245.8 Adjustments to tax in respect of previous periods 7.8 (35.3 ) (14.7 ) 183.2 128.6 231.1 Deferred tax Origination and reversal of temporary differences (195.3 ) (139.7 ) 26.4 Adjustments to tax in respect of previous periods 10.7 24.5 1.2 Previously unrecognized temporary differences - (29.4 ) - Impact of changes in tax rates 35.6 - (931.8 ) (149.0 ) (144.6 ) (904.2 ) Total tax charge/(credit) 34.2 (16.0 ) (673.1 ) |
Reconciliation of Income Tax Provision | The tax charge for the 12 months ended October 31, 2020 is higher than the standard rate of corporation tax in the UK of 19.00% (12 months ended October 31, 2019: 19.00%; 18 months ended October 31, 2018: 19.00%). The differences are explained below: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m (Loss)/profit before taxation (2,940.4 ) (34.1 ) 34.1 Tax at UK corporation tax rate 19.00% (2019: 19.00% , 2018: 19.00%) (558.7 ) (6.5 ) 6.5 Effects of: Tax rates other than the UK standard rate (78.0 ) (4.4 ) 17.8 Intra-Group financing (21.0 ) (42.8 ) (52.5 ) Innovation tax credit benefits (31.8 ) (13.5 ) (21.4 ) Interest restrictions - - 31.8 US foreign inclusion income 20.4 43.7 39.0 Share options 4.1 7.1 10.2 US transition tax - - 238.3 Movement in deferred tax not recognized 11.1 14.4 7.3 Previously unrecognized temporary differences - (29.4 ) - Impact of rate changes 35.6 - (931.9 ) Goodwill impairment 592.8 - - Expenses not deductible and other permanent differences 41.2 26.2 (4.7 ) 15.7 (5.2 ) (659.6 ) Adjustments to tax in respect of previous periods: Current tax 7.8 (35.3 ) (14.7 ) Deferred tax 10.7 24.5 1.2 18.5 (10.8 ) (13.5 ) Total taxation 34.2 (16.0 ) (673.1 ) |
Current Tax Receivables | B Current tax receivables October 31, 2020 October 31, 2019 $m $m Corporation tax 45.3 40.1 |
Current Tax Liabilities | C Current tax liabilities October 31, 2020 October 31, 2019 $m $m Corporation tax 150.1 104.0 |
Non-Current Tax Liabilities | D Non-current tax liabilities October 31, 2020 October 31, 2019 $m $m Corporation tax 102.7 119.7 |
Net Deferred Tax Liability | 12 months ended October 31, 2020 12 months ended October 31, 2019 Net Deferred tax liability Note $m $m At November 1 (987.1 ) (1,170.5 ) Credited to consolidated statement of comprehensive income: 147.9 188.7 - Continuing operations 7A 149.0 156.4 - Discontinued operation (1.1 ) 32.3 Debited directly to equity in relation to share options (1.5 ) (7.6 ) (Debited)/credited to other comprehensive income: (2.5 ) 27.0 Impact of adoption of IFRS 9 - 4.4 Impact of adoption of IFRS 15 - (17.3 ) Impact of adoption of IFRS 16 1.8 - Foreign exchange adjustment 0.3 (11.8 ) At October 31 (841.1 ) (987.1 ) |
Deferred Tax Assets | Deferred tax assets Tax losses and interest restrictions Share based payments Deferred revenue Tax credits Intangible fixed Other temporary differences Research and Development Total $m $m $m $m $m $m $m $m At November 1, 2019 100.5 5.0 108.6 6.8 - 88.6 - 309.5 Transferred from deferred tax liabilities - - - - - - 13.6 13.6 Credited/(charged) to consolidated statement of comprehensive income – continuing operations 33.0 (2.7 ) (18.1 ) 9.5 0.2 (24.4 ) 72.9 70.4 Credited to consolidated statement of comprehensive income – discontinued operation - - - - - (1.1 ) - (1.1 ) Credited directly to equity - (1.5 ) - - - - - (1.5 ) Debited to other comprehensive income - - - - - 6.2 - 6.2 Foreign exchange adjustment - - - - (0.2 ) 0.4 - 0.2 Subtotal 133.5 0.8 90.5 16.3 - 69.7 86.5 397.3 Jurisdictional offsetting (397.3 ) At October 31, 2020 - 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 Credited/(charged) 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: 2021 2022 2023 2024 2025 Thereafter No expiry Total $m $m $m $m $m $m $m $m At October 31, 2020 Type of temporary difference: Losses 5.0 11.9 23.7 43.4 13.3 2,226.7 50.7 2,374.7 Credits 3.5 3.1 1.8 1.4 0.7 5.5 45.4 61.4 Other - - - - - 88.4 23.9 112.3 Total 8.5 15.0 25.5 44.8 14.0 2,320.6 120.0 2,548.4 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 |
Deferred Tax Liabilities | Deferred tax liabilities Intangible fixed assets Research and development Other temporary differences Total $m $m $m $m At November 1, 2019 (1,257.1 ) 13.6 (53.1 ) (1,296.6 ) Transferred to deferred tax assets - (13.6 ) - (13.6 ) Charged to Consolidated statement of comprehensive income – continuing operations 85.4 - (6.8 ) 78.6 Credited to other comprehensive income – continuing operations (8.7 ) - - (8.7 ) Credited to equity - impact of adoption of IFRS 16 - - 1.8 1.8 Foreign exchange adjustment (0.1 ) - 0.2 0.1 Subtotal (1,180.5 ) - (57.9 ) (1,238.4 ) Jurisdictional offsetting 397.3 At October 31, 2020 (841.1 ) 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 IFRS 15 - (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 ) |
Dividends (Tables)
Dividends (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Dividends [Abstract] | |
Dividends | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Equity - ordinary $m $m $m Final paid nil cents (2019: 58.33 cents, 2018: 58.33 cents) per ordinary share - 240.7 133.9 First Interim paid nil cents (2019: 58.33 cents, 2018: 34.60 cents) per ordinary share - 198.5 156.2 Second Interim paid nil cents (2019: nil cents, 2018: 58.33 cents) per ordinary share - - 252.1 - 439.2 542.2 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Earnings per share [Abstract] | |
Reconciliation of Earnings and Weighted Average Number of Shares | Reconciliation of the earnings and weighted average number of shares: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Earnings ($m) (Loss)/profit for the period from continuing operations (2,974.6 ) (18.1 ) 707.2 Profit for the period from discontinued operation 5.1 1,487.2 76.9 (2,969.5 ) 1,469.1 784.1 Number of shares (m) Weighted average number of shares 335.7 378.1 388.7 Dilutive effects of shares - 4.1 11.0 335.7 382.2 399.7 Earnings per share Basic earnings per share (cents) Continuing operations (886.15 ) (4.87 ) 181.91 Discontinued operation 1.52 393.37 19.79 Total Basic earnings per share (884.63 ) 388.50 201.70 Diluted earnings per share (cents) Continuing operations 1 (886.15 ) (4.87 ) 176.92 Discontinued operation 1.52 389.16 19.25 Total Diluted earnings per share 1 (884.63 ) 384.35 196.17 Basic earnings per share (pence) Continuing operations (693.45 ) (3.82 ) 136.73 Discontinued operation 1.19 308.89 14.88 Total Basic earnings per share (692.26 ) 305.07 151.61 Diluted earnings per share (pence) Continuing operations 1 (693.45 ) (3.82 ) 132.98 Discontinued operation 1.19 305.59 14.47 Total Diluted earnings per share 1 (692.26 ) 301.81 147.45 Earnings attributable to ordinary shareholders From continuing operations (2,974.6 ) (18.1 ) 707.2 Excluding non-controlling interests - (0.3 ) (0.1 ) (Loss)/profit for the period from continuing operations (2,974.6 ) (18.4 ) 707.1 From discontinued operation 5.1 1,487.2 76.9 (2,969.5 ) 1,468.8 784.0 Average exchange rate $1.28/1 $1.27/1 $1.33/1 1 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Goodwill [Abstract] | |
Goodwill Acquisition | October 31, 2020 October 31, 2019 Note $m $m Cost At November 1 6,671.3 6,805.0 Acquisitions 33 1.4 26.8 Effects of movements in exchange rates (38.1 ) (160.5 ) At October 31 6,634.6 6,671.3 Impairment losses At November 1 - - Impairment charge for the period (2,799.2 ) - At October 31 (2,799.2 ) - Net book value 3,835.4 6,671.3 A segment-level summary of the goodwill allocation is presented below: Micro Focus 3,835.4 6,671.3 |
Key Assumption of Goodwill | The average annual revenue growth rate by product group, long-term cash flow growth rate and discount rate used in the VIU calculation are: October 31, 2020 October 31, 2019 Long-term cash flow growth rate for terminal value 1.0 % 1.0 % Pre-tax discount rate 1 10.9 % 10.3 % Average annual revenue growth rate by product group 2 (8.1)% to 2.2% (2.4)% to 0.8% 1 2 |
Other intangible assets (Tables
Other intangible assets (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
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 October 31, 2019 146.7 257.0 2,178.6 267.3 5,323.3 14.9 8,187.8 Transfers to right-of-use assets 1 - - - - - (14.9 ) (14.9 ) At November 1, 2019 146.7 257.0 2,178.6 267.3 5,323.3 - 8,172.9 Acquisitions – Atar Labs 33 - - 6.6 - - - 6.6 Additions 55.5 16.2 - - - - 71.7 Additions – external consultants - 0.8 - - - - 0.8 Disposals (11.2 ) - - - - - (11.2 ) Effects of movements in exchange rates 0.5 - 16.0 1.9 40.7 - 59.1 At October 31, 2020 191.5 274.0 2,201.2 269.2 5,364.0 - 8,299.9 Accumulated amortization At October 31, 2019 76.9 214.3 668.9 68.0 1,204.3 13.1 2,245.5 Transfers to right-of-use assets 1 - - - - - (13.1 ) (13.1 ) At November 1, 2019 76.9 214.3 668.9 68.0 1,204.3 - 2,232.4 Amortization charge for the period 46.5 23.5 190.2 19.1 394.8 - 674.1 Disposals (10.6 ) - - - - - (10.6 ) Effects of movements in exchange rates 0.7 0.1 6.6 0.8 12.8 - 21.0 At October 31, 2020 113.5 237.9 865.7 87.9 1,611.9 - 2,916.9 Net book amount at October 31, 2020 78.0 36.1 1,335.5 181.3 3,752.1 - 5,383.0 Net book amount at October 31, 2019 69.8 42.7 1,509.7 199.3 4,119.0 1.8 5,942.3 1 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 33 - - 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 |
Other Intangible Assets Included in Comprehensive Income | Included in the consolidated statement of comprehensive income was: 12 months ended October 31, 2020 12 months ended October 31, 2019 For continuing operations: $m $m Cost of sales: - amortization of product development costs 23.5 26.7 - amortization of acquired purchased technology 190.2 200.1 Selling and distribution: - amortization of acquired purchased trade names and customer relationships (2019: amortization of acquired purchased trade names, customer relationships and lease contracts) 413.9 455.6 Administrative expenses: - amortization of purchased software 46.5 34.1 Total amortization charge for the period 674.1 716.5 Research and development: - capitalization of product development costs 16.2 16.5 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Property, plant and equipment [Abstract] | |
Property, Plant and Equipment | Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total $m $m $m $m $m Cost At October 31, 2019 14.0 113.5 144.4 13.2 285.1 Transfers to right-of-use assets 1 - (9.8 ) (50.6 ) - (60.4 ) At November 1, 2019 14.0 103.7 93.8 13.2 224.7 Additions - 4.8 28.4 2.9 36.1 Other 2 - (9.8 ) - - (9.8 ) Disposals - (15.3 ) (14.1 ) (8.5 ) (37.9 ) Effects of movements in exchange rates - 0.2 (0.2 ) 0.2 0.2 At October 31, 2020 14.0 83.6 107.9 7.8 213.3 Accumulated depreciation At October 31, 2019 2.2 51.7 85.1 5.6 144.6 Transfers to right-of-use assets 1 - (5.2 ) (29.7 ) - (34.9 ) At November 1, 2019 2.2 46.5 55.4 5.6 109.7 Disposals - (11.0 ) (13.5 ) (7.8 ) (32.3 ) Charge for the period 0.3 11.9 27.6 2.2 42.0 Effects of movements in exchange rates - (0.1 ) - 0.3 0.2 At October 31, 2020 2.5 47.3 69.5 0.3 119.6 Net book amount at October 31, 2020 11.5 36.3 38.4 7.5 93.7 Net book amount at October 31, 2019 11.8 61.8 59.3 7.6 140.5 Transfers to right-of-use assets 1 - (4.6 ) (20.9 ) - (25.5 ) Net book amount at November 1, 2019 11.8 57.2 38.4 7.6 115.0 1 2 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. 33 - - 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 |
Other non-current assets (Table
Other non-current assets (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Other non-current assets [Abstract] | |
Other Non-current Assets | October 31, 2020 October 31, 2019 $m $m Employee benefit deposit 17.9 33.4 Long-term rent deposits 5.3 4.9 Long-term prepaid expenses 2.3 4.5 Net investment in finance sub-leases 5.5 - Other 0.8 1.2 31.8 44.0 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Trade and other receivables [Abstract] | |
Trade and Other Receivables | October 31, 2020 October 31, 2019 $m $m Trade receivables 628.4 877.9 Loss allowance (17.9 ) (42.4 ) Trade receivables net 610.5 835.5 Prepayments 49.1 53.9 Other receivables 38.1 87.2 Contract assets 33.7 56.3 731.4 1,032.9 |
Ageing of Impairment on Trade Receivables | The ageing of these receivables is as follows: Current Up to three months Three to four months Over four months Total $m $m $m $m $m October 31, 2020: Gross trade receivables 561.4 42.3 4.3 20.4 628.4 Loss allowance (6.1 ) (0.9 ) (0.4 ) (10.5 ) (17.9 ) Net trade receivables 555.3 41.4 3.9 9.9 610.5 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 |
Provision for Impairment of Trade Receivables | Movements in the Group provision for impairment of trade receivables were as follows: October 31, 2020 October 31, 2019 $m $m At November 1 (calculated under IAS 39) 42.4 41.9 Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) - 20.0 Revised November 1 42.4 61.9 Loss allowance (releases)/provided in the year (4.8 ) 16.0 Receivables written off as uncollectable (19.7 ) (35.5 ) At October 31 17.9 42.4 |
Contract-related costs (Tables)
Contract-related costs (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Contract-related costs [Abstract] | |
Contracts-related Costs | October 31, 2020 October 31, 2019 $m $m Current 27.9 19.3 Non-current 35.7 31.5 63.6 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, 2020 October 31, 2019 $m $m Asset recognized from costs incurred to acquire a contract 29.1 31.4 Amortization and impairment loss recognized as cost of providing services during the year (16.1 ) (10.2 ) |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Cash and cash equivalents [Abstract] | |
Cash and Cash Equivalents | October 31, 2020 October 31, 2019 $m $m Cash at bank and in hand 374.3 292.2 Short-term bank deposits 362.9 63.5 Cash and cash equivalents 737.2 355.7 |
Credit Quality of Cash and Cash Equivalents | The credit quality of cash and cash equivalents is as follows: October 31, 2020 October 31, 2019 $m $m S&P/Moody’s/Fitch rating: AAA 358.4 69.8 AA- 27.2 87.6 A+ 318.6 144.4 A 9.9 23.4 A- 9.1 14.4 BBB+ 2.4 1.7 BBB 2.7 4.5 BBB- 0.4 0.8 BB+ 0.6 0.8 BB 1.1 0.3 BB- 4.3 6.3 B+ 0.2 0.2 CCC+ 1.1 - C- 1.2 - Not Rated - 1.5 737.2 355.7 |
Trade and other payables - cu_2
Trade and other payables - current (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Trade and other payables - current [Abstract] | |
Trade and Other Payables - Current | October 31, 2020 October 31, 2019 $m $m Trade payables 71.5 105.0 Trade and social security 84.3 80.7 Accruals 347.7 425.3 503.5 611.0 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Borrowings [Abstract] | |
Borrowings | October 31, 2020 October 31, 2019 $ $ Bank loan secured 4,733.2 4,775.0 Unamortized prepaid facility arrangement fees and original issue discounts (92.9 ) (104.3 ) Carrying value 4,640.3 4,670.7 October 31, 2020 October 31, 2019 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 T Reported within: $ $ $ $ $ $ Current liabilities 34.2 (12.8 ) 21.4 - - - Non-current liabilities 4,699.0 (80.1 ) 4,618.9 4,775.0 (104.3 ) 4,670.7 4,733.2 (92.9 ) 4,640.3 4,775.0 (104.3 ) 4,670.7 |
Movements on the Group Loans | The movements on the Group loans in the year were as follows: term loan B-1 EUR term loan B-2 USD term loan B-3 USD term loan B-4 USD Seattle Spinco term loan B Euro term loan B Revolving Facility Total $ $ $ $ $ $ $ $ At November 1, 2018 - 1,503.8 382.1 - 2,580.5 530.5 - 4,996.9 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 At November 1, 2019 - 1,414.7 368.2 - 2,486.3 505.8 - 4,775.0 Draw downs 665.8 - - 650.0 - - 175.0 1,490.8 Repayments - (1,414.7 ) - - - - (175.0 ) (1,589.7 ) Foreign exchange 34.5 - - - - 22.6 - 57.1 At October 31, 2020 700.3 - 368.2 650.0 2,486.3 528.4 - 4,733.2 |
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, 2020: term loan B-1 EUR term loan B-3 USD term loan B-4 USD Seattle Spinco term loan B Euro term loan B Revolving Facility Total $ $ $ $ $ $ $ Within one year 49.0 11.0 50.3 74.6 16.9 1.8 203.6 In one to two years 52.6 12.4 53.5 82.7 21.5 1.5 224.2 In two to three years 47.4 14.6 48.6 98.4 21.3 - 230.3 In three to four years 46.6 369.7 47.8 2,496.5 527.1 - 3,487.7 In four to five years 642.8 - 599.2 - - - 1,242.0 At October 31, 2020 838.4 407.7 799.4 2,752.2 586.8 3.3 5,387.8 Less than 1 year 1-3 years 3-5 years Total $m $m $m $m Debt principal repayment 34.2 128.2 4,570.8 4,733.2 Interest payment on debt 169.4 326.3 158.9 654.6 At October 31, 2020 203.6 454.5 4,729.7 5,387.8 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 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 Total $m $m $m $m Debt principal repayment - 1,431.7 3,343.3 4,775.0 Interest payment on debt 209.2 360.8 235.5 805.5 At October 31, 2019 209.2 1,792.5 3,578.8 5,580.5 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Leases [Abstract] | |
Lease Right-of-Use Assets | Leasehold land and buildings Computer equipment Other Total $m $m $m $m Net book value at October 31, 2020 180.1 20.4 6.7 207.2 Net book value at November 1, 2019 223.6 20.8 9.0 253.4 Depreciation charge for the 12 months ended October 31, 2020 60.3 11.2 5.4 76.9 |
Leases Amounts Recognized in Financial Statements | Amounts recognized in the statement of comprehensive income: 12 months ended October 31, 2020 12 months ended October 31, 2019 Under IFRS 16 Under IAS 17 Note $m $m Under IFRS 16: Interest on lease liabilities 6 13.2 - Depreciation of right-of-use assets 76.9 - Impairment of right-of-use assets* 5.9 - Income from sub-leasing right-of-use assets 0.4 - Under IAS 17: Interest on lease liabilities 6 - 2.0 Depreciation of lease assets - 13.9 Lease expense - 65.9 Income from sub-leasing right-of-use assets - 1.0 * The Group assessed right-of-use assets for indicators of impairment during the year in particular leases, which have become vacant or part vacant or changes in sub-lease expectations on existing vacant properties. As a result, an additional impairment of $5.9 million was recognized in the year. The impairment against the right-of-use asset carrying value reflects any expected sub lease-income over the remainder of the lease. Amounts recognized in statement of cash flows: 12 months ended October 31, 2020 Under IFRS 16 12 months ended October 31, 2019 Under IAS 17 $m $m Interest payments on lease liabilities 13.2 2.0 Payment for lease liabilities (2019: payment for finance lease liabilities) 80.1 12.9 Total cash outflow for leases 93.3 14.9 |
Lease Obligations | The movement on the Group lease obligations in the year were as follows: Note $m IFRS 16 adoption 269.8 Transfer from Finance lease liability 23.5 Balance at November 1, 2019 293.3 Additions 41.6 Disposals (0.2 ) Payments (93.3 ) Interest 6 13.2 Foreign exchange (4.2 ) Balance at October 31, 2020 250.4 Included within: Current liabilities 82.2 Non-current liabilities 168.2 Total 250.4 |
Maturity of Lease Obligations | The maturity profile of the Group’s lease obligations is as follows: $m Within one year 82.2 In one to two years 69.5 In two to three years 43.3 In three to five years 49.3 In more than five years 36.3 At October 31, 2020 280.6 Impact of discounting (30.2 ) Total lease obligations 250.4 |
Contract liabilities (Tables)
Contract liabilities (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Contract liabilities [Abstract] | |
Contract Liabilities | October 31, 2020 October 31, 2019 $m $m Current 981.4 1,045.9 Non-current 117.2 149.9 1,098.6 1,195.8 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Provisions [Abstract] | |
Provisions | October 31, 2020 October 31, 2019 $m $m Onerous leases and dilapidations 16.9 34.2 Restructuring 30.8 36.4 Legal 9.7 5.7 Other 14.8 2.1 Total 72.2 78.4 Current 49.7 29.3 Non-current 22.5 49.1 Total 72.2 78.4 |
Provisions Continuing Operations and Discontinued Operation | Onerous contracts and dilapidations Restructuring Legal Other Total Note $m $m $m $m $m At October 31, 2019 34.2 36.4 5.7 2.1 78.4 Adoption of IFRS 16 1 (16.7 ) - - - (16.7 ) At November 1, 2019 17.5 36.4 5.7 2.1 61.7 Acquisitions – ATAR Labs 33 - 0.4 - - 0.4 Additional provision in the period 3.2 34.7 5.4 12.7 56.0 Released (3.1 ) (5.9 ) (0.7 ) - (9.7 ) Utilization of provision (1.0 ) (35.7 ) (0.8 ) - (37.5 ) Effects of movements in exchange rates 0.3 0.9 0.1 - 1.3 At October 31, 2020 16.9 30.8 9.7 14.8 72.2 Current 5.0 20.2 9.7 14.8 49.7 Non-current 11.9 10.6 - - 22.5 Total 16.9 30.8 9.7 14.8 72.2 1 Onerous contracts 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. 33 - - - 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 |
Pension commitments (Tables)
Pension commitments (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Pension commitments [Abstract] | |
Defined Contribution Schemes | Pension costs for defined contributions schemes are as follows: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Continuing operations Note $m $m $m Defined contribution schemes 29 31.2 32.7 43.3 |
Defined Benefit Schemes | October 31, 2020 October 31, 2019 $m $m Within non-current assets: Long-term pension assets 18.2 17.1 Within non-current liabilities: Retirement benefit obligations (155.0 ) (141.4 ) |
Movement on Long-term Pension Assets | The movement on the long-term pension assets is as follows: October 31, 2020 October 31, 2019 Note $m $m As at November 1 17.1 16.7 Reclassification to assets held for sale - 0.1 Transfer to plan assets (0.4 ) - Interest on non-plan assets 6 0.2 0.3 Benefits paid (0.1 ) (0.1 ) Contributions 0.3 0.3 Included within other comprehensive income: - Change in fair value assessment 0.4 0.4 0.4 0.4 Effects of movements in exchange rates 0.7 (0.6 ) As at October 31 18.2 17.1 Included within other comprehensive income: Continuing operations 0.4 0.3 Discontinued operation - 0.1 0.4 0.4 |
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, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Current service charge 10.4 9.0 12.6 Past service charge - - (5.5 ) Charge to operating (loss)/profit 29 10.4 9.0 7.1 Current service charge – discontinued operations - 0.1 0.3 Interest on pension scheme liabilities 3.1 4.2 5.2 Interest on pension scheme assets (1.3 ) (1.8 ) (2.4 ) Charge to finance costs 6 1.8 2.4 2.8 Total continuing charge to (loss)/profit for the period 12.2 11.5 10.2 |
Movements in Equity | The following amounts have been recognized as movements in the statement of other comprehensive income: 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31,2018 $m $m $m Actuarial return on assets excluding amounts included in interest income 1.8 5.9 0.6 Re-measurements – actuarial gains/(losses): - Demographic - (1.6 ) 0.3 - Financial (0.6 ) (38.8 ) (11.1 ) - Experience 3.0 8.4 1.9 2.4 (32.0 ) (8.9 ) Reclassification from defined contribution scheme or other assets and liabilities to defined benefit scheme (4.6 ) - (2.1 ) Movement in the period (0.4 ) (26.1 ) (10.4 ) Continuing operations (0.4 ) (26.2 ) (8.9 ) Discontinued operation - 0.1 (1.5 ) (0.4 ) (26.1 ) (10.4 ) |
Weighted Average Key Assumptions Used for Valuation of Schemes | The weighted average key assumptions used for the valuation of the schemes were: October 31, 2020 October 31, 2019 Germany Rest of World Total Germany Rest of World Total Rate of increase in final pensionable salary 2.50 % 3.09 % 2.64 % 2.50 % 3.09 % 2.65 % Rate of increase in pension payments 1.50 % 1.50 % 1.50 % 1.75 % 1.50 % 1.75 % Discount rate 0.79 % 1.41 % 0.90 % 1.09 % 1.71 % 1.20 % Inflation 1.50 % 1.25 % 1.47 % 1.75 % 1.16 % 1.69 % |
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, 2020 October 31, 2019 Germany Rest of World Total Germany Rest of World Total Retiring at age 65 at the end of the reporting year: Male 20 22 20 20 20 20 Female 24 25 24 23 23 23 Retiring 15 years after the end of the reporting year: Male 22 23 22 22 23 22 Female 26 26 25 25 26 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, 2020 October 31, 2019 Germany Rest of World Total Germany Rest of World Total Present value of defined benefit obligations 248.4 54.9 303.3 213.5 48.0 261.5 Fair values of plan assets (119.1 ) (29.2 ) (148.3 ) (92.0 ) (28.1 ) (120.1 ) 129.3 25.7 155.0 121.5 19.9 141.4 |
Movements in Defined Benefit Obligations | The defined benefit obligation has moved as follows: October 31, 2020 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 $m $m $m $m $m $m $m $m $m At November 1, 2019 213.5 (92.0 ) 121.5 48.0 (28.1 ) 19.9 261.5 (120.1 ) 141.4 Current service cost 6.9 - 6.9 3.5 - 3.5 10.4 - 10.4 Reclassification from other liabilities/assets 14.7 (17.8 ) (3.1 ) 1.5 - 1.5 16.2 (17.8 ) (1.6 ) Transfer from long-term pension assets - (0.4 ) (0.4 ) - - - - (0.4 ) (0.4 ) Benefits paid (0.6 ) 0.6 - (2.9 ) 2.9 - (3.5 ) 3.5 - Contributions by plan participants 1.1 (1.1 ) - 0.6 (0.6 ) - 1.7 (1.7 ) - Contribution by employer - (0.7 ) (0.7 ) - (2.3 ) (2.3 ) - (3.0 ) (3.0 ) Interest cost/(income) (note 6) 2.3 (1.0 ) 1.3 0.8 (0.3 ) 0.5 3.1 (1.3 ) 1.8 Included within other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic - - - - - - - - - - Financial (0.4 ) - (0.4 ) 1.0 - 1.0 0.6 - 0.6 - Experience (2.0 ) - (2.0 ) (1.0 ) - (1.0 ) (3.0 ) - (3.0 ) Actuarial return on assets excluding amounts included in interest income - (2.4 ) (2.4 ) - 0.6 0.6 - (1.8 ) (1.8 ) Reclassification to defined benefit scheme 3.1 - 3.1 1.5 - 1.5 4.6 - 4.6 0.7 (2.4 ) (1.7 ) 1.5 0.6 2.1 2.2 (1.8 ) 0.4 Effects of movements in exchange rates 9.8 (4.3 ) 5.5 1.9 (1.4 ) 0.5 11.7 (5.7 ) 6.0 At October 31, 2020 248.4 (119.1 ) 129.3 54.9 (29.2 ) 25.7 303.3 (148.3 ) 155.0 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 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 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 |
Major Categories of Plan Assets | The major categories of the plan assets are as follows: October 31, 2020 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 49.3 - 49.3 - 6.4 6.4 49.3 6.4 55.7 - Debt instruments 63.3 - 63.3 2.6 4.9 7.5 65.9 4.9 70.8 - Real estate - - - - 2.9 2.9 - 2.9 2.9 Cash and cash equivalents - - - - 2.6 2.6 - 2.6 2.6 Re-insurance contracts with guaranteed interest rates * - 6.5 6.5 - - - - 6.5 6.5 Other - - - - 9.8 9.8 - 9.8 9.8 Total 112.6 6.5 119.1 2.6 26.6 29.2 115.2 33.1 148.3 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 * 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 23 years for Germany and 14 years for all other schemes. Germany Rest of World Increase in assumption Change in defined benefit obligation Decrease in assumption Change in defined benefit obligation Increase in assumption Change in defined benefit obligation Decrease in assumption Change in defined benefit obligation Discount rate for scheme liabilities 0.50 % (10.5 %) 0.50 % 12.1 % 0.50 % (6.5 %) 0.50 % 7.3 % Price inflation/rate of increase in pension payments* 0.25 % 3.4 % 0.25 % (3.2 )% 0.25 % 0.9 % 0.25 % (0.9 )% Salary growth rate 0.50 % 1.1 % 0.50 % (1.1 )% 0.50 % 2.7 % 0.50 % (2.8 )% Life expectancy 1 year 3.9 % - - 1 year 2.0 % - - |
Other non-current liabilities (
Other non-current liabilities (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Other non-current liabilities [Abstract] | |
Other Non-current Liabilities | October 31, 2020 October 31, 2019 $m $m Accruals 39.9 50.4 39.9 50.4 |
Financial risk management and_2
Financial risk management and financial instruments (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Financial risk management and financial instruments [Abstract] | |
Carrying Values of Financial Assets and Liabilities with Fair Value Inputs | The tables below sets out the measurement categories and carrying values of financial assets and liabilities with fair value inputs where relevant. Measurement category Carrying value October 31, 2020 Fair value 2020 Fair value Hierarchy 2020/2019 Carrying value October 31, 2019 Note $m $m Financial assets Non-current Long-term pension assets 22 FV OCI 18.2 Fair value insurance based input Level 3 17.1 Current Cash and cash equivalent 16 Amortized cost 737.2 - - 355.7 Trade and other receivables 14 Amortized cost 648.6 - - 922.7 Contract assets 14 Amortized cost 33.7 - - 56.3 1,437.7 1,351.8 Financial liabilities Non-current Derivative financial instruments – interest rate swaps 1 24 FV OCI 77.9 Fair value Bank Institutions Level 2 36.5 Borrowings (gross) 2 18 Amortized cost 4,699.0 4,535.1 - 4,775.0 Lease obligations 19 Amortized cost 82.2 - - 11.7 Provisions 21 Amortized cost 22.5 - - 49.1 Current Borrowings (gross) 2 18 Amortized cost 34.2 - - - Lease obligations 19 Amortized cost 168.2 - - 11.8 Provisions 21 Amortized cost 49.7 - - 29.3 Trade and other payables – accruals 17 Amortized cost 419.2 - - 530.3 5,552.9 5,443.7 1 2 |
Interest Rate Risk | October 31, 2020 October 31, 2019 Interest rate risk $m $m Interest rate swaps (receive variable, pay fixed) Fair value of Derivative liability (total of 4 swaps) (77.9 ) (36.5 ) Notional amount (4 x $562.5 million) 2,250.0 2,250.0 Maturity date September 30, 2022 September 30, 2022 Change in fair value of outstanding hedging instruments (OCI hedging reserve excluding deferred tax) (note 27) (41.3 ) (122.9 ) Change in value of hedging instruments (as above adjusted for impact of credit risk) (39.9 ) (121.9 ) Hedging ratio 1.1 1.1 |
Non-derivative Financial Instruments, Foreign Exchange Risk | Non-Derivative financial instruments – Designated Euro borrowings October 31, 2020 October 31, 2019 Foreign exchange risk $m $m Notional amounts for Designated Euro borrowing Euro B-1 2020 tranche €600 million (Borrowings maturity date: June 2025) 665.8 - Foreign exchange (loss) on revaluation transferred to OCI-CTA No sources of ineffectiveness observed in review (34.5 ) - Euro 2017 tranche €453 million (Borrowings maturity date: June 2024) 528.5 - Foreign exchange (loss) on revaluation transferred to OCI-CTA No sources of ineffectiveness observed in review (24.2 ) - Hedge ratio for each of the two Net investment hedges 1.1 - |
Maximum Exposure to Credit Risk | The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at October 31, 2020 was: October 31, 2020 October 31, 2019 Note $m $m Trade receivables (gross) 14 628.4 877.9 Cash and cash equivalents 16 737.2 355.7 1,365.6 1.233.6 |
Loss Allowance for Trade Receivable | On that basis, the loss allowance as at October 31, 2020 and 2019 and movements in the loss allowance during each year were determined as follows for trade receivables (note 14 “Trade and other receivables”): October 31, 2020 October 31, 2019 $m $m At November 1 – calculated under IAS 39 41.9 Accounting policy change – IFRS 9 (recognized against retained earnings on November 1, 2018) 20.0 At November 1 – calculated under IFRS 9 42.4 61.9 Loss allowance provided in the period (4.8 ) 16.0 Receivables written off as uncollectable (19.7 ) (35.5 ) At October 31 17.9 42.4 |
Key Aggregate Currency Exposures | Group exposure +/- 5 % +/- 10 % Key aggregate currency exposures* $m $m $m Euro (1,280.1 ) 64.0 128.0 Indian Rupee (INR) (42.4 ) 2.1 4.2 Israeli Shekel (ILS) (29.2 ) 1.4 2.9 Chinese Yuan (CNY) (25.6 ) 1.3 2.6 Australian Dollar (AUD) (15.7 ) 0.8 1.6 Japanese Yen (JPY) 55.1 2.8 5.5 Swedish Krona (SEK) 23.5 1.2 2.4 Swiss Franc (CHF) 18.9 0.9 1.9 Danish Krone (DKK) 17.1 0.9 1.7 Canadian Dollar (CAD) 15.9 0.8 1.6 Mexican Peso (MXN) 14.6 0.7 1.5 United Arab Emirates Dirham (AED) 13.7 0.7 1.4 Czech Koruna (CZK) 10.3 0.5 1.0 * Presenting aggregate foreign exchange exposures in excess of $10 million equivalent. |
Interest Rate Exposure | Interest rate exposure Borrowings exposures to variable interest rate changes (based on gross debt excluding the effects of hedging) Group exposure LIBOR, EURIBOS $m $m Euro 1,228.7 12.3 US dollar 3,504.5 35.0 Total gross debt (note 18) 4,733.2 47.3 |
Net Debt of Group at Statement of Financial Position Date | The net debt of the Group at the Consolidated statement of financial position date is as follows: October 31, 2020 October 31, 2019 Note $m $m Borrowings 18 (4,640.3 ) (4,670.7 ) Cash and cash equivalents 16 737.2 355.7 Lease obligations (2019: Finance lease obligations) 19 (250.4 ) (23.5 ) Net debt (4,153.5 ) (4,338.5 ) |
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 18 “Borrowings”) and lease obligations (note 19 “Leases”) were as follows: Interest bearing loans Lease obligations Total $m $m $m At November 1, 2019 4,775.0 23.5 4,798.5 Adoption of IFRS16 - 269.8 269.8 4,775.0 293.3 5,068.3 Draw down/new leases 1,490.8 41.6 1,532.4 Repayments (1,589.7 ) (93.3 ) (1,683.0 ) Disposals - (0.2 ) (0.2 ) Interest - 13.2 13.2 Foreign exchange 57.1 (4.2 ) 52.9 At October 31, 2020 4,733.2 250.4 4,983.6 |
Share capital (Tables)
Share capital (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Share capital [Abstract] | |
Capital Structure | Ordinary shares at 10 pence each as at October 31, 2020 (2019: 10 pence each) October 31, 2020 October 31, 2019 October 31, 2018 Shares $m Shares $m Shares $m Issued and fully paid At November 1 363,583,328 47.2 436,800,513 65.8 229,674,479 39.7 Shares issued to satisfy option awards 1,518,327 0.1 6,109,091 0.1 1,894,673 0.2 Shares utilized to satisfy option awards (556,278 ) - (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 - - - - 222,166,897 28.8 At October 31 364,545,377 47.3 363,583,328 47.2 436,800,513 65.8 “B” shares at 335.859391 pence each (2019: 335.859391 pence each) October 31, 2020 October 31, 2019 October 31, 2018 Shares $m Shares $m Shares $m Issued and fully paid At November 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, 2020 October 31, 2019 October 31, 2018 Shares $m Shares $m Shares $m Issued and fully paid At November 1 - - - - - - Issue of Deferred shares - - 74,521,459 - - - Redemption of Deferred shares - - (74,521,459 ) - - - At October 31 - - - - - - Shares bought back under these programmes are held as treasury shares. Treasury share movements and share buy-back costs are shown below: 12 months ended October 31, 2020 12 months ended October 31, 2019 Treasury shares Number Number Share buy-backs - 29,160,054 Shares issued to satisfy option awards - (4,804,817 ) Share reorganisation - (4,012,537 ) - 20,342,700 Share buy-backs numbers: Ordinary shares bought on the London Stock Exchange - 25,766,919 ADRs purchased on the New York Stock Exchange - 3,393,135 - 29,160,054 Share buy-back cost: $m $m Share buy-back cost - 538.8 Expenses - 5.9 - 544.7 |
Share premium account (Tables)
Share premium account (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Share premium account [Abstract] | |
Share Premium Account | October 31, 2020 October 31, 2019 October 31, 2018 Note $m $m $m At November 1 44.0 41.0 192.1 Issue and redemption of B shares - - (156.7 ) Movement in relation to share options exercised 29 2.5 3.0 5.6 At October 31 46.5 44.0 41.0 |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Other reserves [Abstract] | |
Other reserves | Capital redemption reserve 1 Merger reserve 2 Hedging reserve 3 Total Note $m $m $m $m As at November 1, 2018 666.3 3,724.4 70.0 4,460.7 Return of Value - share consolidation 25 18.7 - - 18.7 Return of Value - issue and redemption of B shares 25 1,800.0 (1,800.0 ) - - Hedge accounting 24 - - (122.9 ) (122.9 ) Current tax movement on hedging - - 23.3 23.3 Reallocation of merger reserve - (184.6 ) - (184.6 ) As at October 31, 2019 2,485.0 1,739.8 (29.6 ) 4,195.2 As at November 1, 2019 2,485.0 1,739.8 (29.6 ) 4,195.2 Hedge accounting 24 - - (41.3 ) (41.3 ) Current tax movement on hedging - - 7.8 7.8 Reallocation of merger reserve - 27.6 - 27.6 As at October 31, 2020 2,485.0 1,767.4 (63.1 ) 4,189.3 1 Capital redemption reserve The capital redemption reserve, a non-distributable reserve, was created as a result of Returns of Value in prior periods (note 26). 2 Reallocation of merger reserve The merger reserve is an unrealized profit until it can be realized by the settlement of the intercompany loan by qualifying consideration. |
Non-controlling interests (Tabl
Non-controlling interests (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Non-controlling interests [Abstract] | |
Disclosure of non-controlling interests | October 31, 2020 October 31, 2019 October 31, 2018 $m $m $m At November 1 1.3 1.0 0.9 Share of profit after tax - 0.3 0.1 Purchase of non-controlling interests (1.3 ) - - At October 31 - 1.3 1.0 |
Non-controlling interests | Non-controlling interests relate to the companies detailed below: Company name Country of incorporation and principal place of business October 31, 2020 Proportion held October 31, 2019 Proportion held Novell Japan Ltd Japan 100 % 84.24 % |
Employees and directors (Tables
Employees and directors (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Employees and directors [Abstract] | |
Staff Costs | Staff costs 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Staff costs Wages and salaries 1,187.3 1,204.4 1,819.2 Redundancy and termination costs (non-exceptional) 1.0 0.5 2.1 Social security costs 97.5 93.6 159.0 Other pension costs 41.6 41.7 50.4 1,327.4 1,340.2 2,030.7 Cost of employee share schemes (Share-based payments section below) 17.0 68.8 64.3 Total 1,344.4 1,409.0 2,095.0 |
Pension Costs | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Pension costs comprise: Defined benefit schemes 22 10.4 9.0 7.1 Defined contribution schemes 22 31.2 32.7 43.3 Total 41.6 41.7 50.4 |
Average Monthly Number of People Employed by the Group | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Number Number Number Average monthly number of people (including executive directors) employed by the Group: Continuing operations Sales and distribution 5,066 5,413 5,860 Research and development 5,091 5,056 4,323 General and administration 1,937 1,991 1,378 12,094 12,460 11,561 Discontinued operation Sales and distribution - 164 515 Research and development - 170 629 General and administration - 3 8 - 337 1,152 Total Sales and distribution 5,066 5,577 6,375 Research and development 5,091 5,226 4,952 General and administration 1,937 1,994 1,386 Total 12,094 12,797 12,713 |
Directors | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Directors Aggregate emoluments 4.1 3.7 14.6 Aggregate gains made on the exercise of share options 0.3 79.7 77.7 Company contributions to money purchase pension scheme - - 0.7 Total 4.4 83.4 93.0 |
Key Management Compensation | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Key management compensation Short-term employee benefits 12.4 9.5 25.9 Share based payments 2.2 25.3 44.5 Total 14.6 34.8 70.4 |
Share-based Payment | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 $m $m $m Share-based compensation – IFRS 2 charge 18.3 62.0 70.9 Employer taxes (1.3 ) 6.8 (6.6 ) Continuing operations 17.0 68.8 64.3 Discontinued operation - 2.5 - Total 17.0 71.3 64.3 |
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, 2020 12 months ended October 31, 2019 Number of awards Weighted average exercise price of awards Number of awards Weighted average exercise price of awards ‘000 pence ‘000 pence Outstanding at November 1 9,227 6 5,620 14 Exercised (734 ) 1 (3,410 ) 17 Forfeited/lapsed (2,100 ) 22 (545 ) 27 Granted 7,829 - 7,562 - Outstanding at October 31 14,222 - 9,227 6 Exercisable at October 31 938 4 1,416 34 |
Weighted Average Remaining Contractual Life of Outstanding Share Options | October 31, 2020 October 31, 2019 Weighted average exercise price Number of awards Weighted average remaining contractual life Weighted average exercise price Number of awards Weighted average remaining contractual life Range of exercise prices pence ‘000 years pence ‘000 years £0.10 or less - 14,104 17.2 1 8,982 3.4 £0.11 – £1.00 13 118 2.8 13 137 3.7 £1.01 – £2.00 - - - - - - £2.01 – £3.00 - - - - - - £3.01 - £4.00 - - - - - - More than £4.00 - - - 402 108 0.7 - 14,222 17.1 6 9,227 3.4 |
Unvested Awards Granted are Subject to Vesting Conditions | Unvested awards granted are subject to the following vesting conditions of either: Performance criteria Unvested options Number ‘000 Description Free cash flow/ Relative TSR growth 4,601 Awards made with a free cash flow target and relative TSR target over a three-year period. Continued employment 3,528 Awards under a continuing employment criteria over a two or three-year period. Adjusted EBITDA growth 2,609 Awards made with Adjusted EBITDA growth targets over a two-year period. Cumulative Earnings per share (“EPS”) growth 1,862 EPS for these awards is defined as Diluted Adjusted EPS. Where the cumulative EPS growth over a three or four-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. Other 684 Various other vesting conditions 13,284 |
Disclosure of Significant Input of Share Based Payments | The significant inputs into the model for the 12 months ended October 31, 2020 were: 12 months ended October 31, 2020 12 months ended October 31, 2019 Weighted average share price at the grant date £2.50 £16.44 Expected volatility 72.85% between 48.91% and 49.68% Expected dividend yield 23.76% between 4.78% and 5.87% Expected option life 2 years 0.76 to four years Annual risk-free interest rate 0.17% between 0.49% and 1.38% |
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, 2020 12 months ended October 31, 2019 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 1 461 3,215 3,676 - 3,062 7,427 10,489 - Granted - - - - - 458 458 - Exercised (15 ) - (15 ) - (2,601 ) - (2,601 ) - Surrendered - (2,385 ) (2,385 ) - - - - - Lapsed - (830 ) (830 ) - - (4,670 ) (4,670 ) - Outstanding at October 31 446 - 446 - 461 3,215 3,676 - Exercisable at October 31 446 - 446 - 461 - 461 - |
Weighted Average Remaining Contractual Life of Outstanding Share Options | October 31, 2020 October 31, 2019 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 - 446 4.1 - 3,676 7.3 - 446 4.1 - 3,676 7.3 |
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, 2020. Sharesave 12 months ended October 31, 2020 12 months ended October 31, 2019 Number Weighted Number Weighted of average of average options exercise price options exercise price ‘000 pence ‘000 pence Outstanding at November 1 438 1,221 496 1,185 Exercised - 1,023 (81 ) 1,171 Forfeited (912 ) 855 (102 ) 1,297 Granted 2,409 338 125 1,374 Outstanding at October 31 1,935 293 438 1,221 Exercisable at October 31 - - 62 1,461 Number of options ‘000 Date of grant Exercise price per share pence Exercise period 8 February 23, 2018 1,720.0 April 1, 2021 – September 30, 2021 1 February 23, 2018 1,963.0 April 1, 2021 – September 30, 2021 33 August 3, 2018 1,023.0 October 1, 2021 – March 31, 2022 1 August 3, 2018 1,159.0 October 1, 2021 – March 31, 2022 10 March 7, 2019 1,344.0 April 1, 2022 – September 30, 2022 1 March 7, 2019 1,533.0 April 1, 2022 – September 30, 2022 2 August 5, 2019 1,411.0 October 1, 2021 – March 31, 2023 7 August 5, 2019 1,574.3 October 1, 2021 – August 4, 2022 83 March 5, 2020 617.7 April 1, 2023 – September 30, 2023 8 March 5, 2020 728.2 April 1, 2023 – September 30, 2023 1,680 August 21, 2020 241.3 October 1, 2023 – March 31, 2024 101 August 21, 2020 241.1 October 1, 2023 – March 31, 2024 1,935 c) Sharesave and Employee Stock Purchase Plan 2006 ESPP 12 months ended October 31, 2020 12 months ended October 31, 2019 Number of options Weighted average exercise price Number of options Weighted average exercise price ‘000 ‘000 ‘000 pence Outstanding at November 1 1,192 1,182 800 1,047 Exercised (1,472 ) 1,027 (17 ) 1,114 Forfeited (423 ) 1,082 (44 ) 1,440 Granted 2,958 660 453 1,444 Outstanding at October 31 2,255 617 1,192 1,182 Exercisable at October 31 - - - - Number of options ‘000 Date of grant Exercise price per share pence Exercise period 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 689 March 1, 2020 635.9 March 1, 2022 – May 31, 2022 1,113 October 1, 2020 270.2 October 1, 2022 – December 31, 2022 2,255 |
Disclosure of Significant Input of Share Based Payments | The significant inputs into the model for the 12 months ended October 31, 2020 were: 12 months ended October 31, 2020 12 months ended October 31, 2019 Weighted average share price at the grant date £4.38 £17.56 Expected volatility between 57.72% and 72.37% between 49.06% and 49.68% Expected dividend yield between 8.22% and 16.11% between 4.63% and 5.87% Expected option life two or three years two or three years Annual risk-free interest rate between 0.20% and 0.52% between 0.49% and 1.16% |
Discontinued operation (Tables)
Discontinued operation (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Discontinued Operation for Financial Performance and Cash Flow | 32 Discontinued operation 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 $2.5 billion 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 $2.5 billion, subject to customary closing adjustments. Following this vote, all applicable antitrust, competition, merger control and governmental clearances was obtained. The sale was completed in the prior year (March 15, 2019) and the SUSE business segment was treated as discontinued in the prior year financial statements and in the comparatives of these financial statements. Discontinued operation – Financial performance 12 months ended October 31, 2020 12 months ended October 31, 2019 Before Exceptional Items Exceptional Items Total Before Exceptional Items Exceptional Items Total $m $m $m $m $m $m Revenue - - - 127.0 - 127.0 Operating costs - - - (89.3 ) - (89.3 ) Operating profit - - - 37.7 - 37.7 Share of results of associate - - - (0.3 ) - (0.3 ) (Loss)/profit on disposal of the SUSE business - (3.0 ) (3.0 ) - 1,767.9 1,767.9 (Loss)/profit before taxation - (3.0 ) (3.0 ) 37.4 1,767.9 1,805.3 Taxation 7.3 0.8 8.1 (8.7 ) (309.4 ) (318.1 ) Profit for the year from discontinued operation 7.3 (2.2 ) 5.1 28.7 1,458.5 1,487.2 The profit on disposal of the SUSE business for the 12 months ended October 31, 2020 related to conclusion of the working capital settlement and adjustments in respect of income tax balances owed in respect of pre-transaction periods . The cash flow statement shows amounts related to the discontinued operations: 12 months ended October 31, 2020 12 months ended October 31, 2019 $m $m Net cash inflows from operating activities - 18.6 Net cash outflows from investing activities 1.3 - Net cash flows from financing activities - - In the prior year, on March 15, 2019, the Group disposed of the SUSE business for $2,540.3 million. 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 was calculated as follows: $m Disposal proceeds 2,540.3 Costs to sell recognized in the year (45.3 ) Disposal proceeds, less costs to sell recognized in the year 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 prior year in profit for the year from discontinued operations in the Consolidated statement of comprehensive income. All cash flows occurred in the prior year. 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 $20 million 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 Manager (“ESKM”) product line, and related supporting assets, including applicable patents and other IP. In the prior year, on November 5, 2018, the Group disposed of the Atalla business for a net cash consideration of $20.0 million. 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 was recorded as exceptional (note 4) in the prior year and in the comparatives of these financial statements was calculated as follows: $m Disposal proceeds 20.0 Net assets disposed (16.3) Profit on disposal 3.7 |
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, 2020 12 months ended October 31, 2019 Before Exceptional Items Exceptional Items Total Before Exceptional Items Exceptional Items Total $m $m $m $m $m $m Revenue - - - 127.0 - 127.0 Operating costs - - - (89.3 ) - (89.3 ) Operating profit - - - 37.7 - 37.7 Share of results of associate - - - (0.3 ) - (0.3 ) (Loss)/profit on disposal of the SUSE business - (3.0 ) (3.0 ) - 1,767.9 1,767.9 (Loss)/profit before taxation - (3.0 ) (3.0 ) 37.4 1,767.9 1,805.3 Taxation 7.3 0.8 8.1 (8.7 ) (309.4 ) (318.1 ) Profit for the year from discontinued operation 7.3 (2.2 ) 5.1 28.7 1,458.5 1,487.2 The cash flow statement shows amounts related to the discontinued operations: 12 months ended October 31, 2020 12 months ended October 31, 2019 $m $m Net cash inflows from operating activities - 18.6 Net cash outflows from investing activities 1.3 - Net cash flows from financing activities - - |
Net Assets Disposed of and Profit on Disposal | 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 was calculated as follows: $m Disposal proceeds 2,540.3 Costs to sell recognized in the year (45.3 ) Disposal proceeds, less costs to sell recognized in the year 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] | |
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 was recorded as exceptional (note 4) in the prior year and in the comparatives of these financial statements was 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, 2020 | |
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, 2020: ATAR Labs 0.9 5.0 1.4 - 7.3 7.3 0.9 5.0 1.4 - 7.3 7.3 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 |
Atar Labs [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Carrying value at acquisition Fair value adjustments Fair value Note $m $m $m Intangible assets – purchased 1 11 1.6 5.0 6.6 Other current assets 0.1 - 0.1 Borrowings (0.1 ) - (0.1 ) Provisions – short-term 21 (0.4 ) - (0.4 ) Deferred income – short-term (0.3 ) - (0.3 ) Net assets 0.9 5.0 5.9 Goodwill (note 10) 1.4 Consideration 7.3 Consideration satisfied by: Cash 6.0 Deferred consideration to be settled in cash 1.3 7.3 The fair value adjustments relate to: 1 |
Interset Software Inc. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | 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 21 (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 $61.2 million ($44.5 million Technology, $4.2 million Trade names, $12.5 million 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 $m $m $m Intangible assets 72.8 6,467.0 6,539.8 Property, plant and equipment 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 (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 (39.0 ) - (39.0 ) Retirement benefit obligations (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 - 4,858.3 Consideration 6,514.2 Consideration satisfied by: Shares 6,514.2 |
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 1,809.0 Customer relationships 4,480.0 Trade names 163.0 Leases 15.0 6,467.0 |
Cash Flow Statement (Tables)
Cash Flow Statement (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Cash Flow Statement [Abstract] | |
Cash Flow Statement | 12 months ended October 31, 2020 12 months ended October 31, 2019 18 months ended October 31, 2018 Note $m $m $m Cash flows from operating activities (Loss)/profit from continuing operations (2,974.6 ) (18.1 ) 707.2 Profit from discontinued operation 5.1 1,487.2 76.9 (Loss)/profit for the year (2,969.5 ) 1,469.1 784.1 Adjustments for: Loss/(gain) on disposal of discontinued operation 32 3.0 (1,767.9 ) - Net finance costs 6 279.0 255.8 342.7 Taxation – continuing operations 7 34.2 (16.0 ) (673.1 ) Taxation – discontinued operation 32 (8.1 ) 318.1 34.2 Share of results of associates 28 - 0.3 1.8 Operating (loss)/profit (attributable to continuing and discontinued operations) (2,661.4 ) 259.4 489.7 - continuing operations (2,661.4 ) 221.7 376.8 - discontinued operation 32 - 37.7 112.9 (2,661.4 ) 259.4 489.7 Goodwill impairment charge 10 2,799.2 - - Research and development tax credits (1.8 ) (1.2 ) (2.0 ) Depreciation of property, plant and equipment 1 12 42.0 52.6 71.2 Depreciation of right-of-use asset (2019 and 2018: finance lease depreciation) 1 19 76.9 13.9 17.4 Loss on disposal of property, plant and equipment 12 5.6 3.6 4.7 Loss on disposal of intangible assets 11 0.6 - - Gain on disposal of Atalla 32,4 - (3.7 ) - Amortization of intangible assets 11 674.1 716.5 943.3 Amortization of contract-related costs 16.1 10.2 - Leases impairment 19 5.9 - - Share-based compensation charge 29 17.0 71.3 72.2 Foreign exchange movements 3 29.7 11.1 (34.6 ) Provisions movements 21 46.3 43.8 142.8 Changes in working capital Inventories 0.1 - 0.1 Trade and other receivables 262.0 183.0 (408.8 ) Increase in contract-related costs (26.5 ) (36.7 ) - Payables and other liabilities (69.8 ) (114.8 ) 131.3 Provision utilization 21 (37.5 ) (58.6 ) (145.0 ) Contract liabilities - deferred income (103.1 ) (98.5 ) 131.4 Pension funding difference to operating profit charge 7.4 4.4 4.0 Cash generated from operations 1,082.8 1,056.3 1,424.3 1 |
Related undertakings (Tables)
Related undertakings (Tables) | 12 Months Ended |
Oct. 31, 2020 | |
Related undertakings [Abstract] | |
Details of Subsidiaries | 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 In liquidation 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 In liquidation 1 4 Autonomy Systems Australia Pty Limited Australia Ordinary Shares AU$1.00 In liquidation 1 5 Borland Australia Pty Limited Australia Ordinary Shares AU$1.00 In liquidation 1 6 Entco Australia Pty Limited Australia Ordinary Shares AU$1.00 In liquidation 1 7 Micro Focus Australia Pty Ltd 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 In liquidation 1 10 Micro Focus Austria GmbH (formerly 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 Belgium Ordinary Shares Sale and support of software 3 13 Micro Focus Srl 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 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 Ltda 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 5 20 Verity Worldwide Limited British Virgin Islands Ordinary shares US$50,000.00 Sale and support of software 7 21 Micro Focus APM Solutions Limited (EOOD) Bulgaria Ordinary Shares BGN1,000.00 Development of software 8 22 Micro Focus Bulgaria EOOD Bulgaria Ordinary Shares BGN1.00 Sale and support of software 8 23 Autonomy Systems (Canada) Limited Canada Class A Common Stock Sale and support of software 9 24 GWAVA ULC Canada Common Stock Holding Company 10 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 25 Micro Focus (Canada) ULC Canada Common Shares Development, sale and support of software 10 26 Interset Software ULC Canada Common Shares Holding Company 11 27 Micro Focus Software (Canada), ULC Canada Common Shares Sale and support of software 12 28 Micro Focus Software Solutions Canada Co. / Solutions Logiciels Micro Focus Canada Cie. Canada Common Shares Sale and support of software 13 29 NetManage Canada ULC Canada Common Shares Dormant 10 30 Entco Capital Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 14 31 Entco Investment Co Cayman Islands Ordinary Shares US$1.00 Sale and support of software 14 32 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 14 33 Micro Focus IP Limited Cayman Islands Class A Ordinary Shares €0.01 Class B Preferred Redeemable Shares €0.01 Holding Company 14 34 Entco Marigalante Limited Cayman Islands Ordinary Shares US$1.00 Sale and support of software 14 35 Autonomy Systems (Beijing) Limited Company China Registered Capital Sale and support of software 15 36 Shanghai Micro Focus Software Technology Co. Limited (formerly Shanghai Entco Software Technology Co., Limited) China Registered Capital Sale and support of software 16 37 Shanghai Micro Focus Software Technology Co. Limited (formerly Shanghai Entco Software Technology Co., Limited), Beijing Branch China Branch Sale and support of software 17 38 Shanghai Micro Focus Software Technology Co. Limited (formerly Shanghai Entco Software Technology Co., Limited), Chongqing Branch China Branch Sale and support of software 18 39 Shanghai Micro Focus Software Technology Co. Limited( formerly Shanghai Entco Software Technology Co., Limited), Shenzhen Branch China Branch Sale and support of software 19 40 Shanghai Micro Focus Software Technology Co. Limited( formerly Shanghai Entco Software Technology Co., Limited), Shangdong Branch China Branch Sales and support of software 20 41 Singapore Micro Focus Pte Ltd Shanghai Representative Office China Branch Sale and support of software 21 42 UK Micro Focus Limited Beijing Representative Office China Branch Sale and support of software 22 43 Micro Focus CentroAmerica CAC Limiteda Costa Rica Quota CRC1,000.00 Sale and support of software 23 44 Micro Focus Costa Rica Limiteda Costa Rica Quota CRC1,000.00 Sale and support of software 23 45 NetIQ Software International Limited Cyprus Ordinary Shares of C£1.00 Dormant 24 46 Micro Focus Czechia s.r.o Czech Republic Registered Capital Sale and support of software 25 47 Micro Focus Denmark, filial af Micro Focus AS, Norge (Branch) Denmark Branch Sale and support of software 26 48 Micro Focus Software Denmark ApS Denmark Ordinary Shares DKK1.00 Sale and support of software 26 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 49 Micro Focus AS, Filial i Finland (Branch) Finland Branch Sale and support of software 27 50 Borland (France) Sarl France Ordinary Shares €15.25 Sale and support of software 28 51 Cobol-IT, SAS France Ordinary Shares €1.00 Sale and support of software 28 52 Micro Focus France SAS France Ordinary Shares €1.00 Sale and support of software 29 53 Micro Focus SAS France Ordinary Shares €10.00 Sale and support of software 28 54 Attachmate Group Germany GmbH Germany Ordinary Shares €191,000.00 Sale and support of software 30 55 Borland GmbH Germany Ordinary Shares €49,500.00 Ordinary Shares €450,000.00 Ordinary Shares €100,000.00 Ordinary Shares €500.00 Dormant 30 56 GWAVA EMEA GmbH Germany Registered Capital Sale and support of software 31 57 Micro Focus Deutschland GmbH Germany Registered Capital Sale and support of software 30 58 Micro Focus GmbH Germany Registered Capital Sale and support of software 30 59 Novell Holdings Deutschland GmbH Germany Registered Capital Holding Company 30 60 Serena Software GmbH Germany Registered Capital Sale and support of software 32 61 Attachmate (Hong Kong) Limited Hong Kong Ordinary Shares HK$1.00 In liquidation 33 62 Borland (H.K.) Limited Hong Kong Ordinary Shares HK$1.00 In liquidation 33 63 EntCorp Hong Kong Limited Hong Kong Ordinary Shares HK$1.00 Sale and support of software 34 64 Micro Focus Limited Hong Kong (Branch) Hong Kong Branch Sale and support of software 33 65 Micro Focus Software HK Limited Hong Kong Ordinary Shares HK$10.00 Sale and support of software 33 66 NetIQ Asia Ltd. Hong Kong Ordinary Shares HK$1.00 In liquidation 33 67 Autonomy Software Asia Private Limited India Equity Shares INR10.00 Sale and support of software 35 68 Borland Software India Private Limited India Equity Shares INR10.00 Dormant 36 69 Entco IT Services Private Limited India Equity Shares INR10.00 Sale and support of software 37 70 Interwoven, Inc., India Branch India Branch Sale and support of software 38 71 Micro Focus India Private Limited India Equity Shares INR10.00 In liquidation 36 72 Micro Focus Software India Private Limited India Equity Shares INR10.00 Development, sale and support of software 36 73 Micro Focus Software Solutions India Private Limited India Equity Shares INR10.00 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 74 Novell India Private Ltd. India Equity Shares INR10.00 In liquidation 40 75 Relativity Technologies Private Limited India Equity Shares INR10.00 In liquidation 36 76 Attachmate Ireland Limited Ireland Ordinary Shares €1.27 Sale and support of software 41 77 Entsoft Holding Ireland Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 41 78 Micro Focus (IP) Ireland Limited Ireland Ordinary Shares US$1.00 Dormant 42 79 Micro Focus (Ireland 1) Limited Ireland Ordinary Shares US$1.00 In liquidation 42 80 Micro Focus (Ireland 2) Limited Ireland Ordinary Shares US$1.00 In liquidation 42 81 Micro Focus Finance Ireland Limited Ireland Ordinary Shares US$1.00 In liquidation 42 82 Micro Focus Galway Limited Ireland Ordinary Shares €1.00 Sale and support of software 41 83 Micro Focus Group Holdings Unlimited Company Ireland Ordinary Shares €1.00 Holding Company 42 84 Micro Focus International Holdings Limited Ireland Ordinary Shares €1.00 Holding Company 42 85 Micro Focus Ireland Limited Ireland Ordinary Shares €1.00 Development, sale and support of software 42 86 Micro Focus Software (Ireland) Limited Ireland Ordinary Shares €1.25 Ordinary Shares US$1.00 Development, sale and support of software 43 87 Micro Focus Software Solutions Ireland Limited Ireland Ordinary Shares €1.00 Sale and support of software 41 88 NetIQ Europe Limited Ireland Ordinary Shares €1.00 Sale and support of software 41 89 NetIQ Ireland Limited Ireland Ordinary Shares €1.00 Holding Company 42 90 Novell Cayman Software International Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 42 91 Novell Cayman Software Unlimited Company Ireland Ordinary Shares US$1.00 Holding Company 42 92 Novell Ireland Real Estate Unlimited Company Ireland Ordinary Shares €1.25 A Ordinary Shares €1.25 In liquidation 42 93 Novell Software International Limited Ireland Ordinary Shares US$1.00 Holding Company 42 94 Micro Focus Interactive Israel Ltd Israel Ordinary Shares of NIS1.00 Sale and support of software 44 95 Micro Focus Israel Limited Israel Ordinary Shares NIS1.00 Development and support of software 45 96 Micro Focus Software Israel Ltd Israel Ordinary Shares NIS1.00 Sale and support of software 44 97 N.Y. NetManage (Yerushalayim) Ltd Israel Ordinary Shares NIS1.00 Dormant 46 98 Novell Israel Software International Limited Israel Ordinary Shares NIS1.00 Dormant 47 99 Enterprise Corp Italiana S.r.l. Italy Quota €10,000.00 Sale and support of software 48 100 Micro Focus Italiana S.r.l. Italy Quota €1,000,000.00 Sale and support of software 49 101 Micro Focus Srl Italy Quota €1200,000.00 Sale and support of software 49 102 Serena Software Europe Limited - Italy Branch Italy Branch Sale and support of software 49 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 103 Verity Italia S.r.l. Italy Quota €25,000.00 Sale and support of software 50 104 Entcorp Japan K.K. Japan Ordinary Shares Sale and support of software 51 105 Micro Focus Enterprise Ltd Japan Ordinary Shares Sale and support of software 52 106 Micro Focus LLC Japan Interest in Capital Sale and support of software 52 107 Novell Japan, Ltd Japan Common Stock Sale and support of software 52 108 Serena Software Japan LLC Japan Interest in Capital Sale and support of software 52 109 Micro Focus Luxembourg S.à r.l. Luxembourg Ordinary Shares Sale and support of software 53 110 Verity Luxembourg S.à r.l. Luxembourg Ordinary Shares €25.00 Sale and support of software 54 111 Micro Focus Malaysia Sdn. Bhd. Malaysia Ordinary Shares RM1,000.00 Sale and support of software 55 112 Novell Corporation (Malaysia) Sdn. Bhd. Malaysia Ordinary Shares RM1.00 Sale and support of software 56 113 Micro Focus International Mexico, S. de R.L. de C.V. Mexico Equity Interest Quota MXN1.00 Sale and support of software 57 114 Micro Focus Limited Mexico (Branch) Mexico Branch Sale and support of software 57 115 Micro Focus Software Mexico, S. De R.L. De C.V. Mexico Equity Interest Quota MXN1.00 Sale and support of software 57 116 Micro Focus Software Solutions Mexico, S. de R.L. de C.V. Mexico Equity Interest Quota MXN1.00 Sale and support of software 57 117 Authasas B.V Netherlands Ordinary Shares A €1.00 Sale and support of software 58 118 Autonomy HoldCo B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 119 Autonomy Netherlands BV Netherlands Common Shares €100.00 Sale and support of software 58 120 Borland BV Netherlands Ordinary Shares €5.00 Sale and support of software 58 121 Entco Eastern Holding B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 122 Entco Gatriam Holding B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 123 Entco Holding Berlin B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 124 Entco Holding Hague II B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 125 Entco Sinope Holding B.V. Netherlands Ordinary Shares US$100.00 Holding company 58 126 Entcorp Nederland B.V. Netherlands Ordinary Shares €100.00 Sale and support of software 58 127 Micro Focus B.V. Netherlands Common Shares €100.00 Sale and support of software 58 128 Micro Focus Caribe Holding B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 129 Micro Focus Eastern Holding II B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 130 Micro Focus Enterprise B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 131 Micro Focus HoldCo B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 132 Micro Focus Holding Finance B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 133 Micro Focus Holding Hague B.V. Netherlands Ordinary Shares US$100.00 Holding Company 58 134 Micro Focus Holding PR B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 135 Micro Focus International Trade B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 136 Micro Focus Nederland B.V. Netherlands Ordinary Shares US$100.00 Sale and support of software 58 137 Verity Benelux B.V. Netherlands Common Shares of €500.00 Sale and support of software 58 138 Micro Focus Software (New Zealand) Unlimited New Zealand Ordinary Shares Sale and support of software 59 139 Micro Focus AS Norway Ordinary Shares NOK1,602.00 Sale and support of software 60 140 Entcorp Philippines, Inc. Philippines Common Stock PHP1.00 Sale and support of software 61 141 Micro Focus Polska sp. z.o.o. Poland Ordinary Shares PLN500.00 Sale and support of software 62 142 Micro Focus S.L. - Sucursal Em Portugal (Branch) Portugal Branch Sale and support of software 63 143 Novell Portugal - Informática Lda Portugal Ordinary Shares €14,864.18 Ordinary Shares €99.76 Sale and support of software 63 144 Micro Focus Caribe Holding B.V. LLC Branch Puerto Rico Branch Sale and support of software 64 145 Micro Focus Holding PR B.V. LLC Branch Puerto Rico Branch Sale and support of software 65 146 Micro Focus Software Romania SRL Romania Ordinary Shares RON10.00 Sale and support of software 66 147 Limited Liability Company Micro Focus Russian Federation Interest in Capital Sale and support of software 67 148 Micro Focus LLC Saudi Arabia Ordinary Shares SAR50 Sale and support of software 68 149 Autonomy Systems Singapore Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 150 Borland (Singapore) Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 151 Entco Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 152 Mercury Interactive (Singapore) Pte Ltd Singapore Ordinary Shares In liquidation 70 153 Micro Focus Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 154 Micro Focus Software Pte. Ltd. Singapore Ordinary Shares Sale and support of software 69 155 Autonomy Systems Software South Africa Pty Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 71 156 Micro Focus Software South Africa (Pty) Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 72 157 Micro Focus South Africa (Pty) Ltd South Africa Ordinary Shares ZAR1.00 Sale and support of software 72 158 Micro Focus Korea Limited South Korea Units KRW 5,000 Sale and support of software 73 159 Micro Focus Field Delivery Spain, S.L.U. Spain Ordinary Shares €1.00 Sale and support of software 74 160 Micro Focus S.L.U. Spain Registered Shares €9.00 Sale and support of software 74 161 Micro Focus Software Spain S.L.U. Spain Ordinary Shares €1.00 Sale and support of software 74 162 Micro Focus AS, Norge, filial i Sverige (Branch) Sweden Branch Sale and support of software 75 163 Micro Focus Sverige AB Sweden Quota SEK1.00 Sale and support of software 75 164 Micro Focus Enterprise B.V., Amstelveen, Versoix Branch Switzerland Branch Sale and support of software 76 165 Micro Focus GmbH Switzerland Quotas CHF100.00 Sale and support of software 77 166 Micro Focus International Suisse Sàrl Switzerland Ordinary Shares CHF1,000.00 Sale and support of software 76 167 Micro Focus Schweiz GmbH Switzerland Ordinary Shares CHF100.00 Sale and support of software 77 168 Trilead GmbH Switzerland Ordinary Shares CHF100.00 Sale and support of software 78 169 Interwoven, Inc., Taiwan Branch Taiwan Branch Sale and support of software 79 170 Micro Focus Taiwan Co. Ltd (formerly Novell (Taiwan) Co., Ltd.) Taiwan Ordinary Shares NT$10.00 Sale and support of software 80 171 Micro Focus Enterprise Tunisia SARL Tunisia Ordinary Shares TND10.00 Sale and support of software 81 172 Atarlabs Bilişim Anonim Şirketi Turkey Group A Shares TRY1.0 Development and support of software 82 173 Micro Focus Teknoloji Çözümleri Limited Şirketi Turkey Ordinary Shares TRY25.00 Sale and support of software 83 174 Micro Focus Ukraine, LLC (formerly Serena Software Ukraine LLC) Ukraine Interest in Capital Sale and support of software 84 175 Entco International SARL-Abu Dhabi - Branch United Arab Emirates Branch Sale and support of software 85 176 Entco International SARL-Jebel Ali Free Zone - Branch United Arab Emirates Branch Sale and support of software 86 177 Entco Software Services Middle East FZ-LLC United Arab Emirates Ordinary Shares AED1,000.00 Sale and support of software 87 178 Attachmate Sales UK Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 179 Autonomy Systems Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 89 180 Borland (Holding) UK Ltd United Kingdom Ordinary Shares £1.00 Dormant 88 181 Borland (UK) Limited United Kingdom Ordinary Shares £1.00 Dormant 88 182 Entcorp Marigalante UK Limited United Kingdom Ordinary Shares £1.00 In liquidation 89 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 183 Longsand Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 89 184 Merant Holdings United Kingdom Ordinary Shares £1.00 Holding Company 88 185 Micro Focus (IP) Holdings Limited United Kingdom Ordinary Shares US$1.00 Dormant 88 186 Micro Focus (IP) Ltd United Kingdom Ordinary Shares £1.00 Holding Company 88 187 Micro Focus (US) Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 88 188 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 88 189 Micro Focus Foreign HoldCo Ltd United Kingdom Ordinary Shares £1.00 Holding Company 89 190 Micro Focus Global Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 191 Micro Focus Group Limited United Kingdom Ordinary Shares £1.00 Holding Company 88 192 Micro Focus Holdings Unlimited United Kingdom Ordinary Shares £0.01 Holding Company 88 193 Micro Focus Integration Holdings Limited United Kingdom Ordinary Shares US$1.00 In liquidation 88 194 Micro Focus Integration Limited United Kingdom Ordinary Shares US$1.00 Sale and support of software 88 195 Micro Focus IP Development Limited United Kingdom Ordinary Shares US$1.00 Development and support of software 88 196 Micro Focus Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 197 Micro Focus MHC Limited United Kingdom A Ordinary Shares £0.00001 B Ordinary Shares £0.00001 Holding Company 88 198 Micro Focus Midco Holdings Limited United Kingdom Ordinary Shares US$0.01 Holding Company 88 199 Micro Focus Midco Limited United Kingdom Ordinary Shares US$0.0001 Holding Company 88 200 Micro Focus Situla Holding Ltd United Kingdom Ordinary Shares £1.00 Holding Company 89 201 Micro Focus Software (IP) Holdings Limited United Kingdom Ordinary Shares US$0.01 Preferred Shares US$1.00 Holding Company 88 202 Micro Focus Software Holdings Ltd United Kingdom Ordinary Shares £1.00 Sale and support of software 88 203 Micro Focus Software UK Ltd United Kingdom Ordinary Shares £1.00 Sale and support of software 89 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 204 Micro Focus UK Limited United Kingdom Ordinary Shares £1.00 Dormant 88 205 NetIQ Limited United Kingdom Ordinary Shares £1.00 In liquidation 88 206 Serena Holdings United Kingdom Ordinary Shares US$1.00 Holding Company 88 207 Serena Software Europe Limited United Kingdom Ordinary Shares £1.00 Sale and support of software 88 208 Attachmate Corporation United States Common Stock US$0.01 Development and support of software 90 209 Borland Corporation United States Common Stock US$0.01 Holding Company 91 210 Borland Software Corporation United States Common Stock US$0.01 Development and support of software 91 211 Borland Technology Corporation United States Common Stock US$0.01 Dormant 91 212 Entco Delaware LLC United States Interest in Capital Sale and support of software 91 213 Entco, LLC United States Interest in Capital Sale and support of software 91 214 GWAVA Technologies Inc. United States Common Stock of US$1.00 Sale and support of software 91 215 MA FinanceCo., LLC United States Membership Units Holding Company 91 216 Marcel Holdings LLC United States Limited Liability Company Interest US$1.00 Sale and support of software 91 217 Micro Focus (US) Group, Inc United States Common Stock US$0.01 Holding Company 91 218 Micro Focus (US) International Holdings, Inc. United States Common Stock US$0.01 Holding Company 91 219 Micro Focus (US), Inc. United States Common Stock US$0.01 Development and support of software 91 220 Micro Focus Brazil Holdings LLC United States Interest in Capital Holding Company 91 221 Micro Focus Government Solutions LLC United States Interest in Capital Sale and support of software 91 222 Micro Focus LLC United States Limited Liability Company Interests Sale and support of software 91 223 Micro Focus Software Inc. United States Voting Common Stock US$0.01 Non-voting Common Stock US$0.01 Development and support of software 91 224 NetIQ Corporation United States Common Stock US$0.001 Development and support of software 91 Company name Country of incorporation Class(es) of shares held 1,2 Principal activities Key to Registered office address Subsidiaries 225 Novell Holdings, Inc. United States Common Stock US$0.01 Holding Company 91 226 Novell International Holdings, Inc. United States Common Stock US$0.01 Holding Company 91 227 Seattle SpinCo, Inc. United States Class A Common Stock US$0.01 Class B Common Stock US$0.01 Holding Company 91 228 Serena Software, Inc. United States Common Stock US$0.01 Holding Company 91 229 Stratify, Inc. United States Common Stock US$0.001 Sale and support of software 91 230 The Attachmate Group, Inc. United States Common Stock US$0.001 Holding Company 91 231 Vertica Systems, LLC United States Limited Liability Company Interests Sale and support of software 91 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 Andar, Saõ 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 Estera Corporate Services (BVI) Limited, Jayla Place Wickhams Cay 1, Road Town, Tortola, Virgin Islands, British 8 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria 9 200-204 Lambert Street, Whitehorse, Y1A 3T2, Canada 10 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada 11 Suite 1700, Park Place, 666 Burrard Street, Vancouver BC V6C 2X8, Canada 12 4300 Bankers Hall West, 888 - 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada 13 Cogswell Tower, 2000 Barrington Street, Suite 1101-C., Halifax NS B3J 3K1 , Canada 14 Estera Trust (Cayman) Limited, PO Box 1350, Clifton House, 75 Fort Street, Grand Cayman, KY1-1108, Cayman Islands 15 Unit 601, Block A, Yuanyang International Center, Building 56, Dong Si Huan Zhong Dong Road, Beijing, Chaoyang District, China 16 Floor 2, Building 1, No. 799 Naxian Road, Pilot Free Trade Zone, Shanghai, China 17 8 Guangshun Avenue South, B01, 3F, Building 1, Chaoyang District, China 18 No. 209, Chuangxin Plaza, No. 5 Keyuanyi Road, Jiulongpo District, Chongqing, China 19 14/F, Office 1436, Times Financial Center, 4001 Shennan Avenue, Futian District, Shenzhen, Guangdong, 518046, China 20 1807-1811, 18th Floor, Kechuang Building, interchange of Yingxiong Mountain Road and 2nd Ring South Rd, Shizhong District, Jinan, Shangdong, China 21 Room 810, 8 /F, Tower B, No.8 Century Avenue, Shanghai Pilot Free Trade Zone, China 22 Unit 04,B01,3rd Floor, 101 1st Floor, No.1 building, No.8 Yard Guangshun South Avenue, Chaoyang District, Beijing, China 23 San José, Cantón Montes de Oca, Distrito San Pedro, cincuenta metros al sur del Restaurante Le Chandelier, Edificio Blanco, Costa Rica 24 54 Digeni Akrita, Akritas 2nd Floor, Office 201-202, PC 1061, Nicosia, Cyprus 25 Za Brumlovkou 1559/5, Michle, Prague, 140 00, Czech Republic 26 Borupvang 3, 2750, Ballerup, Denmark 27 Accountor Turku Oy, Yliopistonkatu 34,5 krs, Turku FI-20100 28 Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris, 92911, France Consolidated financial statements and notes Notes to the consolidated financial statements 35 Related undertakings Registered office addresses Number Address 29 Tour Carpe Diem, 31 Place des Corolles, 92400, Courbevoie, France 30 Herrenberger Strasse 140, 71034, Böblinge, Germany 31 Von-Braun-Strabe 38a, 48683 Ahaus, Germany 32 Nöerdlicher Zubringer 9-11, 40470 Düsseldorf, Germany 33 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong 34 19th Floor, Cityplaza One, 1111 King’s Road, Taikoo Shing, Hong Kong 35 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 36 Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India 37 4th Floor, Bagmane Tech Park, Olympia Building Survey Nos. 66/1, 66/66-1 & 66/1-3, CV Raman Nagar, Bangalore, 560093, India 38 602 MMTC House C-22 Bandra Kurla Complex Bandra East, Mumbai, MH 400051, India 39 66/1, 6th Floor, Olympia Building, Bagmane Tech Park, Byrasandra, C V Raman Nagar, Bangalore, Karnataka, 560093, India 40 Leela Galleria, 1st Floor, Andheri Kurla Road, Andheri(East), Mumbai - 400059, Maharashtra, India 41 Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, Ireland 42 One Spencer Dock, North Wall Quay, Dublin 1, Ireland 43 Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland 44 5 Altalef St., Yahud, Israel 45 Matam Advanced Tech Center, Building 5/1, Haifa, 31 905, Israel 46 Scientific Industries Center, Haifa, 33263, Israel 47 17 Hatidhar St., Raannana, 43665, Israel 48 Via Filippo Turati 8, 20121, Milan, Italy 49 Viale Sarca 235, 20126, Milan, Italy 50 Via Santa - Maria alla Porta n.9, 20123, Milan, Italy 51 No. 8 Center Plaza Bldg, 5F, 1-10-16 Horidomecho Nihonbashi, Chuo-ku, Tokyo 103-0012, Japan 52 Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan 53 20, rue des Peupliers, L-2328 Luxembourg, Luxembourg 54 15, Boulevard F.W. Raiffeisen, L - 2411, Luxembourg 55 Level 11 , 1 Sentral, Jalan Rakyat, Kuala Lumpur Sentral, 50470 59200 Kuala Lumpur, Malaysia 56 Unit 501 Level 5 Uptown 1, 1 Jalan SS2, Selangor Darul Ehsan, Malaysia 57 Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico 58 Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands 59 Level 26, PWC Tower, 15 Customs Street West, Auckland, 1010, New Zealand 60 7th Floor, Dronning Eufemias Gate 16, 0191 Oslo, Norway 61 2/F Three World Square, Upper Mckinley Road, Taguig City, Philippines 62 Centrum Biurowe Globis, Powstańców Śląskich 7A, 53-332, Wrocław, Poland 63 Centro Empresarial Torres de Lisboa, Rua Tomás da Fonseca, Torre G, 1.º, 1600-209 Lisbon, Portugal 64 110 Highway North Km. 28, Bldg. #1, Aguadilla, 00603, Puerto Rico 65 350 Chardon Avenue, Chardon Tower, Suite 801, San Juan, 00918, Puerto Rico 66 2nd District, 3 George Constantinescu Street, BOC Office Building, Bucharest, Romania 67 Leningradskoye shosse 16 A, Building 3, floor 10, premise XV, room 16, 125171, Moscow, Russian Federation 68 Regus Al-Nakheel Centre, Nimr Building A (1st Floor), 5176 Al-Imam Saud Ibn Abdul Aziz Road, Al Nakheel District, Saudi Arabia 69 #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, Singapore 70 450 Alexandra Road, Singapore 119960, Singapore 71 78 Sophia Street, Fairland, 2195, South Africa 72 Morning View Office Park 255 Rivonia Road, Morningside, South Africa 73 Yeoidodong, SK Building, 15F, 31 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, Korea 74 Torre Espacio, Planta 16, Paseo de la Castellana, 259D, 28046 Madrid, Spain 75 Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden 76 Chemin Jean-Baptiste Vandelle 3A, 1290 Versoix, Switzerland 77 Wallisellen Business Park, Offices 201-204, Richtistrasse 7, 8304, Wallisellen, Switzerland 78 C/O Centralis Switzerland GmbH, Bahnhofstrasse 10, 6300 Zug, Switzerland 79 10F.-1 No.66, Jing Mao 2nd Road, Nangang Distric, Taipei City, 115, Taiwan 80 9F No 200, Sec. 1, Keelung Road, Xinyl Dist, Taipei City 110, Taiwan 81 ZI Chotrana, Technopole El Ghazala, Lot No 45, Ariana, 2088, Tunisia 82 Üniversiteler Mahallesi 1605 Cad. No: 3A, Çankaya, Ankara, Turkey 83 AND Plaza Kozyatağa İçerenköy Mahallesi Umut Sk. 10/12, Kat: 16 34752 Ataşehir/İstanbul, Turkey 84 13 Pimonenko str., building 1, Office 1B/22, Kiev 04050, Ukraine 85 Al Hilal Building, Al Falah Road, Office 318, Abu Dhabi, United Arab Emirates 86 JAFZA One building, Unit No. AB 1005, Jebel Ali Free Zone, Dubai, United Arab Emirates 87 1204 - 1205, Floor 12 Al Shatha Tower, Dubai, United Arab Emirates 88 The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom 89 Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom 90 C T Corporation System, 711 Capitol Way S, Suite 204, Olympia 98501, United States 91 The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA |
General information (Details)
General information (Details) | Oct. 31, 2020EmployeeCountry | Oct. 31, 2019EmployeeCountry | Oct. 31, 2018EmployeeCountry |
Disclosure of general information [Line Items] | |||
Number of countries located in | Country | 48 | 48 | 49 |
Number of employees | 11,900 | 12,100 | 14,800 |
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, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | [1] | |||
Going concern [Abstract] | |||||||
Cash balances | $ 737.2 | $ 355.7 | [1] | $ 620.9 | [1] | $ 151 | |
Total liquidity | 1,087.2 | ||||||
Net current liability | (246.5) | ||||||
Contract liabilities | $ 981.4 | $ 1,045.9 | [1] | $ 1,134.7 | |||
Subsidiaries [Abstract] | |||||||
Ownership interest | 100.00% | ||||||
Novell Japan Ltd [Member] | |||||||
Subsidiaries [Abstract] | |||||||
Ownership interest | 100.00% | 84.24% | 81.05% | ||||
Bottom of Range [Member] | |||||||
Going concern [Abstract] | |||||||
Net leverage covenant percentage | 35.00% | ||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Significant Accounting polici_5
Significant Accounting policies, Revenue Recognition (Details) | 12 Months Ended |
Oct. 31, 2020 | |
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, 2020 | |
Contract-related costs [Abstract] | |
Average customer contract life | 5 years |
Top of range [member] | |
Contract-related costs [Abstract] | |
Expected amortization period, costs not capitalized | 1 year |
Significant Accounting polici_7
Significant Accounting policies, Exchange Rates (Details) | 12 Months Ended | 18 Months Ended | |||||||||||||||||||||||||||||
Oct. 31, 2020$ / £ | Oct. 31, 2020$ / £$ / € | Oct. 31, 2020$ / £$ / $ | Oct. 31, 2020$ / £JPY (¥) | Oct. 31, 2020$ / £$ / ¥ | Oct. 31, 2020$ / £$ / ₨ | Oct. 31, 2020$ / £$ / ₪ | Oct. 31, 2019$ / £ | Oct. 31, 2019$ / £$ / € | Oct. 31, 2019$ / £$ / $ | Oct. 31, 2019$ / £JPY (¥) | Oct. 31, 2019$ / £$ / ₪ | Oct. 31, 2018$ / £ | Oct. 31, 2018$ / £$ / € | Oct. 31, 2018$ / £$ / $ | Oct. 31, 2018$ / £JPY (¥) | Oct. 31, 2018$ / £$ / ₪ | Oct. 31, 2020$ / € | Oct. 31, 2020$ / $ | Oct. 31, 2020JPY (¥) | Oct. 31, 2020$ / ¥ | Oct. 31, 2020$ / ₨ | Oct. 31, 2020$ / ₪ | Oct. 31, 2019$ / € | Oct. 31, 2019$ / $ | Oct. 31, 2019JPY (¥) | Oct. 31, 2019$ / ₪ | Oct. 31, 2018$ / € | Oct. 31, 2018$ / $ | Oct. 31, 2018JPY (¥) | Oct. 31, 2018$ / ₪ | |
Exchange rates [Abstract] | |||||||||||||||||||||||||||||||
Average | 1.28 | 1.13 | 0.74 | 93 | 0.14 | 0.01 | 0.29 | 1.27 | 1.12 | 0.75 | 110 | 0.28 | 1.33 | 1.18 | 0.78 | 90 | 0.28 | ||||||||||||||
Closing | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 | 1.29 | 1.29 | 1.29 | 1.29 | 1.29 | 1.27 | 1.27 | 1.27 | 1.27 | 1.27 | 1.17 | 0.75 | 96 | 0.15 | 0.01 | 0.29 | 1.12 | 0.76 | 108 | 0.28 | 1.14 | 0.76 | 92 | 0.27 |
Significant Accounting polici_8
Significant Accounting policies, Intangible Assets (Details) | 12 Months Ended |
Oct. 31, 2020 | |
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 |
Significant Accounting polici_9
Significant Accounting policies, Property, Plant and Equipment (Details) | 12 Months Ended |
Oct. 31, 2020 | |
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, Operating Lease Commitments (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Significant Accounting policies [Abstract] | ||||
Rental expense charged for operating leases | $ 65.9 | |||
Depreciation and interest | 15.9 | |||
Depreciation of right-of-use assets | [1] | $ 76.9 | $ 13.9 | $ 17.4 |
Interest | 13.2 | |||
Weighted average incremental borrowing rate | 4.70% | |||
Operating lease commitments [Abstract] | ||||
Operating lease commitments | $ 301.2 | |||
Committed leases not commenced | [2] | (0.3) | ||
Cost of reasonably certain extensions | [2] | 1.3 | ||
Subtotal | 302.2 | |||
Effect of discounting on payments included in the calculation of the lease liability (excluding finance lease balances) | (32.4) | |||
Subtotal | 269.8 | |||
Other | [3] | 23.5 | ||
IFRS 16 [Member] | ||||
Significant Accounting policies [Abstract] | ||||
Depreciation of right-of-use assets | 76.9 | |||
Interest | $ 13.2 | |||
Operating lease commitments [Abstract] | ||||
Operating lease commitments | $ 293.3 | |||
[1] | $13.9 million and $17.4 million of depreciation on leased assets was included in depreciation of property, plant and equipment in the 12 months ended October 31, 2019 and the 18-months ended October 31, 2018 respectively. No depreciation in relation to leased assets is included in depreciation of property, plant and equipment in the period as all leased assets are classified as right-of-use assets following the adoption of IFRS 16. | |||
[2] | Undiscounted. | |||
[3] | Includes Finance lease liabilities already reported under IAS 17. |
Significant Accounting polic_11
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards, Impact of IFRS 16 on Consolidated Financial Position (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | |||
Non-current assets [Abstract] | |||||||
Goodwill | $ 3,835.4 | $ 6,671.3 | [1] | ||||
Other intangible assets | 5,383 | 5,942.3 | [1] | $ 6,629.3 | |||
Property, plant and equipment | 93.7 | 140.5 | [1] | 144.3 | |||
Right-of-use assets | 207.2 | 0 | [1] | ||||
Long-term pension assets | 18.2 | 17.1 | [1] | ||||
Contract-related costs | 35.7 | 31.5 | [1] | ||||
Other non-current assets | 31.8 | 44 | [1] | ||||
Total non-current assets | 9,605 | 12,846.7 | [1] | ||||
Current assets [Abstract] | |||||||
Inventories | 0 | 0.1 | [1] | ||||
Trade and other receivables | 731.4 | 1,032.9 | [1] | ||||
Contract-related costs | 27.9 | 19.3 | [1] | ||||
Current tax receivables | 45.3 | 40.1 | [1] | ||||
Cash and cash equivalents | 737.2 | 355.7 | [1] | 620.9 | [1] | $ 151 | [1] |
Total current assets | 1,541.8 | 1,448.1 | [1] | ||||
Total assets | 11,146.8 | 14,294.8 | [1] | ||||
Current liabilities [Abstract] | |||||||
Trade and other payables | 503.5 | 611 | [1] | ||||
Lease obligations | 82.2 | 11.8 | [1] | ||||
Provisions | 49.7 | 29.3 | [1] | ||||
Current tax liabilities | 150.1 | 104 | [1] | ||||
Contract liabilities | 981.4 | 1,045.9 | [1] | 1,134.7 | |||
Total current liabilities | 1,788.3 | 1,802 | [1] | ||||
Non-current liabilities [Abstract] | |||||||
Contract liabilities | 117.2 | 149.9 | [1] | ||||
Borrowings | 4,618.9 | 4,670.7 | [1] | ||||
Lease obligations | 168.2 | 11.7 | [1] | ||||
Derivative liability | 77.9 | 36.5 | [1] | ||||
Retirement benefit obligations | 155 | 141.4 | [1] | ||||
Provisions | 22.5 | 49.1 | [1] | ||||
Other non-current liabilities | 39.9 | 50.4 | [1] | ||||
Current tax liabilities | 102.7 | 119.7 | [1] | ||||
Deferred tax liabilities | 841.1 | 987.1 | [1] | ||||
Total non-current liabilities | 6,143.4 | 6,216.5 | [1] | ||||
Total liabilities | 7,931.7 | 8,018.5 | [1] | ||||
Net assets | 3,215.1 | 6,276.3 | [1] | ||||
Capital and reserves [Abstract] | |||||||
Share capital | 47.3 | 47.2 | [1] | ||||
Share premium account | 46.5 | 44 | [1] | ||||
Merger reserve | 1,767.4 | 1,739.8 | [1] | ||||
Capital redemption reserve | 2,485 | 2,485 | [1] | ||||
Hedging reserve | (63.1) | (29.6) | [1] | ||||
Retained earnings | (741.3) | 2,250.7 | [1] | ||||
Foreign currency translation reserve | (326.7) | (262.1) | [1] | ||||
Total equity attributable to owners of the parent | 3,215.1 | 6,275 | [1] | ||||
Non-controlling interests | 0 | 1.3 | [1] | ||||
Total equity | $ 3,215.1 | 6,276.3 | [1],[2] | $ 7,792 | [2],[3] | $ 1,613.5 | [3] |
IFRS 16 Leases [Member] | |||||||
Non-current assets [Abstract] | |||||||
Property, plant and equipment | 115 | ||||||
Currently stated [member] | |||||||
Non-current assets [Abstract] | |||||||
Goodwill | 6,671.3 | ||||||
Other intangible assets | 5,940.5 | ||||||
Property, plant and equipment | 115.1 | ||||||
Right-of-use assets | 253.4 | ||||||
Long-term pension assets | 17.1 | ||||||
Contract-related costs | 31.5 | ||||||
Other non-current assets | 51.7 | ||||||
Total non-current assets | 13,080.6 | ||||||
Current assets [Abstract] | |||||||
Inventories | 0.1 | ||||||
Trade and other receivables | 1,033.2 | ||||||
Contract-related costs | 19.3 | ||||||
Current tax receivables | 40.1 | ||||||
Cash and cash equivalents | 355.7 | ||||||
Total current assets | 1,448.4 | ||||||
Total assets | 14,529 | ||||||
Current liabilities [Abstract] | |||||||
Trade and other payables | 612.4 | ||||||
Lease obligations | 86.5 | ||||||
Provisions | 25 | ||||||
Current tax liabilities | 104 | ||||||
Contract liabilities | 1,045.9 | ||||||
Total current liabilities | 1,873.8 | ||||||
Non-current liabilities [Abstract] | |||||||
Contract liabilities | 149.9 | ||||||
Borrowings | 4,670.7 | ||||||
Lease obligations | 206.8 | ||||||
Derivative liability | 36.5 | ||||||
Retirement benefit obligations | 141.4 | ||||||
Provisions | 36.7 | ||||||
Other non-current liabilities | 40.3 | ||||||
Current tax liabilities | 119.7 | ||||||
Deferred tax liabilities | 985.3 | ||||||
Total non-current liabilities | 6,387.3 | ||||||
Total liabilities | 8,261.1 | ||||||
Net assets | 6,267.9 | ||||||
Capital and reserves [Abstract] | |||||||
Share capital | 47.2 | ||||||
Share premium account | 44 | ||||||
Merger reserve | 1,739.8 | ||||||
Capital redemption reserve | 2,485 | ||||||
Hedging reserve | (29.6) | ||||||
Retained earnings | 2,242.3 | ||||||
Foreign currency translation reserve | (262.1) | ||||||
Total equity attributable to owners of the parent | 6,266.6 | ||||||
Non-controlling interests | 1.3 | ||||||
Total equity | 6,267.9 | ||||||
Previously Stated [Member] | |||||||
Non-current assets [Abstract] | |||||||
Goodwill | 6,671.3 | ||||||
Other intangible assets | 5,942.3 | ||||||
Property, plant and equipment | 140.5 | ||||||
Right-of-use assets | 0 | ||||||
Long-term pension assets | 17.1 | ||||||
Contract-related costs | 31.5 | ||||||
Other non-current assets | 44 | ||||||
Total non-current assets | 12,846.7 | ||||||
Current assets [Abstract] | |||||||
Inventories | 0.1 | ||||||
Trade and other receivables | 1,032.9 | ||||||
Contract-related costs | 19.3 | ||||||
Current tax receivables | 40.1 | ||||||
Cash and cash equivalents | 355.7 | ||||||
Total current assets | 1,448.1 | ||||||
Total assets | 14,294.8 | ||||||
Current liabilities [Abstract] | |||||||
Trade and other payables | 611 | ||||||
Lease obligations | 11.8 | ||||||
Provisions | 29.3 | ||||||
Current tax liabilities | 104 | ||||||
Contract liabilities | 1,045.9 | ||||||
Total current liabilities | 1,802 | ||||||
Non-current liabilities [Abstract] | |||||||
Contract liabilities | 149.9 | ||||||
Borrowings | 4,670.7 | ||||||
Lease obligations | 11.7 | ||||||
Derivative liability | 36.5 | ||||||
Retirement benefit obligations | 141.4 | ||||||
Provisions | 49.1 | ||||||
Other non-current liabilities | 50.4 | ||||||
Current tax liabilities | 119.7 | ||||||
Deferred tax liabilities | 987.1 | ||||||
Total non-current liabilities | 6,216.5 | ||||||
Total liabilities | 8,018.5 | ||||||
Net assets | 6,276.3 | ||||||
Capital and reserves [Abstract] | |||||||
Share capital | 47.2 | ||||||
Share premium account | 44 | ||||||
Merger reserve | 1,739.8 | ||||||
Capital redemption reserve | 2,485 | ||||||
Hedging reserve | (29.6) | ||||||
Retained earnings | 2,250.7 | ||||||
Foreign currency translation reserve | (262.1) | ||||||
Total equity attributable to owners of the parent | 6,275 | ||||||
Non-controlling interests | 1.3 | ||||||
Total equity | 6,276.3 | ||||||
Impact of Adoption of IFRSs [Member] | IFRS 16 Leases [Member] | |||||||
Non-current assets [Abstract] | |||||||
Goodwill | 0 | ||||||
Other intangible assets | (1.8) | ||||||
Property, plant and equipment | (25.4) | ||||||
Right-of-use assets | 253.4 | ||||||
Long-term pension assets | 0 | ||||||
Contract-related costs | 0 | ||||||
Other non-current assets | 7.7 | ||||||
Total non-current assets | 233.9 | ||||||
Current assets [Abstract] | |||||||
Inventories | 0 | ||||||
Trade and other receivables | 0.3 | ||||||
Contract-related costs | 0 | ||||||
Current tax receivables | 0 | ||||||
Cash and cash equivalents | 0 | ||||||
Total current assets | 0.3 | ||||||
Total assets | 234.2 | ||||||
Current liabilities [Abstract] | |||||||
Trade and other payables | 1.4 | ||||||
Lease obligations | 74.7 | ||||||
Provisions | (4.3) | ||||||
Current tax liabilities | 0 | ||||||
Contract liabilities | 0 | ||||||
Total current liabilities | 71.8 | ||||||
Non-current liabilities [Abstract] | |||||||
Contract liabilities | 0 | ||||||
Borrowings | 0 | ||||||
Lease obligations | 195.1 | ||||||
Derivative liability | 0 | ||||||
Retirement benefit obligations | 0 | ||||||
Provisions | (12.4) | ||||||
Other non-current liabilities | (10.1) | ||||||
Current tax liabilities | 0 | ||||||
Deferred tax liabilities | (1.8) | ||||||
Total non-current liabilities | 170.8 | ||||||
Total liabilities | 242.6 | ||||||
Net assets | (8.4) | ||||||
Capital and reserves [Abstract] | |||||||
Share capital | 0 | ||||||
Share premium account | 0 | ||||||
Merger reserve | 0 | ||||||
Capital redemption reserve | 0 | ||||||
Hedging reserve | 0 | ||||||
Retained earnings | (8.4) | ||||||
Foreign currency translation reserve | 0 | ||||||
Total equity attributable to owners of the parent | (8.4) | ||||||
Non-controlling interests | 0 | ||||||
Total equity | $ (8.4) | ||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | ||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||
[3] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Significant Accounting polic_12
Significant Accounting policies, Critical Accounting Estimates and Assumptions (Details) | 12 Months Ended |
Oct. 31, 2020 | |
Offices [Member] | Top of Range [Member] | |
Lease term [Abstract] | |
Lease term | 5 years |
Data Centers [Member] | Top of Range [Member] | |
Lease term [Abstract] | |
Lease term | 3 years |
Vehicles [member] | Bottom of Range [Member] | |
Lease term [Abstract] | |
Lease term | 3 years |
Vehicles [member] | Top of Range [Member] | |
Lease term [Abstract] | |
Lease term | 4 years |
Segmental reporting (Details)
Segmental reporting (Details) - Reportable Segments [Member] | 12 Months Ended |
Oct. 31, 2020SegmentSubportfolio | |
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, Reconcilia
Segmental reporting, Reconciliation to Adjusted EBITDA (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||||
Reconciliation to Adjusted EBITDA | ||||||
(Loss)/profit before tax | $ (2,940.4) | $ (34.1) | [1] | $ 34.1 | [2] | |
Finance costs | 281.6 | 282.4 | [1] | 350.4 | [2] | |
Finance income | (2.6) | (26.6) | [1] | (7.7) | [2] | |
Depreciation of property, plant and equipment | (42) | (66.5) | ||||
Right-of-use asset depreciation | [3] | 76.9 | 13.9 | 17.4 | ||
Share based compensation charge | 17 | 68.8 | 64.3 | |||
Foreign exchange credit | 7.9 | 18.2 | (37.4) | |||
Total assets | 11,146.8 | 14,294.8 | [4] | |||
Total liabilities | 7,931.7 | 8,018.5 | [4] | |||
Reportable Segments [Member] | Micro Focus Product Portfolio [Member] | ||||||
Reconciliation to Adjusted EBITDA | ||||||
(Loss)/profit before tax | (2,940.4) | (34.1) | 34.1 | [5] | ||
Finance costs | 281.6 | 282.4 | 350.4 | [5] | ||
Finance income | (2.6) | (26.6) | (7.7) | [5] | ||
Depreciation of property, plant and equipment | 42 | 66.5 | 88.6 | [5] | ||
Right-of-use asset depreciation | 76.9 | 0 | 0 | [5] | ||
Amortization of intangible assets | 674.1 | 716.5 | 903.1 | [5] | ||
Exceptional items (reported in Operating (loss)/profit) | 3,011.6 | 294.2 | 538.2 | [5] | ||
Share based compensation charge | 17 | 68.8 | 64.3 | [5] | ||
Product development, intangible costs capitalized | (16.2) | (16.5) | (44.4) | [5] | ||
Foreign exchange credit | 29.7 | 11.3 | (37.4) | [5] | ||
Adjusted EBITDA | $ 1,173.7 | $ 1,362.5 | $ 1,889.2 | [5] | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | |||||
[3] | $13.9 million and $17.4 million of depreciation on leased assets was included in depreciation of property, plant and equipment in the 12 months ended October 31, 2019 and the 18-months ended October 31, 2018 respectively. No depreciation in relation to leased assets is included in depreciation of property, plant and equipment in the period as all leased assets are classified as right-of-use assets following the adoption of IFRS 16. | |||||
[4] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | |||||
[5] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 37) |
Supplementary information, Anal
Supplementary information, Analysis of revenue by geography (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Geographical areas [Abstract] | |||||
Revenue | $ 3,001 | $ 3,348.4 | [1] | $ 4,754.4 | [2] |
UK [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 173 | 206.9 | 299.6 | ||
USA [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 1,289.8 | 1,523 | 2,279.8 | ||
Non-current assets other than financial instruments and deferred tax assets | 3,301 | 4,623 | 5,145.8 | ||
Germany [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 218.7 | 220.7 | 309.5 | ||
Canada [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 108 | 115.9 | 178.4 | ||
France [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 101.4 | 123.3 | 195.5 | ||
Japan [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 96.9 | 108.6 | 145.8 | ||
Other [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 1,013.2 | 1,050 | 1,345.9 | ||
Non-current assets other than financial instruments and deferred tax assets | $ 6,304 | $ 8,192 | $ 8,488.3 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
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, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Analysis of revenue from contracts with customers [Abstract] | |||||
Revenue from contracts with customers | $ 3,001 | $ 3,348.4 | $ 4,754.4 | ||
Total Revenue | 3,001 | 3,348.4 | [1] | 4,754.4 | [2] |
Maintenance [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 1,920.8 | 2,051.6 | 2,818.9 | ||
SaaS & Other Recurring [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 245.3 | 278.9 | 365.1 | ||
Licence [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 646.5 | 800 | 1,206.1 | ||
Consulting [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 188.4 | 217.9 | 364.3 | ||
Recognized over time [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 2,166.1 | 2,330.5 | 3,184 | ||
Recognized over time [Member] | Maintenance [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 1,920.8 | 2,051.6 | 2,818.9 | ||
Recognized over time [Member] | SaaS & Other Recurring [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 245.3 | 278.9 | 365.1 | ||
Recognized at point in time [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 834.9 | 1,017.9 | 1,570.4 | ||
Recognized at point in time [Member] | Licence [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | 646.5 | 800 | 1,206.1 | ||
Recognized at point in time [Member] | Consulting [Member] | |||||
Analysis of revenue from contracts with customers [Abstract] | |||||
Total Revenue | $ 188.4 | $ 217.9 | $ 364.3 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Supplementary information, An_3
Supplementary information, Analysis of Revenue by Product (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | $ 3,001.6 | $ 3,355.2 | $ 4,815.5 | ||
Deferred revenue haircut | (0.6) | (6.8) | (61.1) | ||
Total Revenue | 3,001 | 3,348.4 | [1] | 4,754.4 | [2] |
Licence [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 646.5 | 800 | 1,213.7 | ||
Deferred revenue haircut | 0 | 0 | (7.6) | ||
Total Revenue | 646.5 | 800 | 1,206.1 | ||
Maintenance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 1,921.2 | 2,057.6 | 2,861.6 | ||
Deferred revenue haircut | (0.4) | (6) | (42.7) | ||
Total Revenue | 1,920.8 | 2,051.6 | 2,818.9 | ||
SaaS & Other Recurring [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 245.5 | 279.7 | 373.9 | ||
Deferred revenue haircut | (0.2) | (0.8) | (8.8) | ||
Total Revenue | 245.3 | 278.9 | 365.1 | ||
Consulting [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 188.4 | 217.9 | 366.3 | ||
Deferred revenue haircut | 0 | 0 | (2) | ||
Total Revenue | 188.4 | 217.9 | 364.3 | ||
Application Modernisation & Connectivity [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 470.3 | 508.7 | 771.8 | ||
Application Modernisation & Connectivity [Member] | Licence [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 138.6 | 170.9 | 256.3 | ||
Application Modernisation & Connectivity [Member] | Maintenance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 321.6 | 326.1 | 497.6 | ||
Application Modernisation & Connectivity [Member] | SaaS & Other Recurring [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 0 | 0 | 0 | ||
Application Modernisation & Connectivity [Member] | Consulting [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 10.1 | 11.7 | 17.9 | ||
Application Delivery Management [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 631 | 721.7 | 987.9 | ||
Application Delivery Management [Member] | Licence [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 102 | 130.3 | 185.5 | ||
Application Delivery Management [Member] | Maintenance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 439.2 | 485.4 | 646.7 | ||
Application Delivery Management [Member] | SaaS & Other Recurring [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 73.9 | 87.8 | 114.1 | ||
Application Delivery Management [Member] | Consulting [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 15.9 | 18.2 | 41.6 | ||
IT Operations Management [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 853 | 1,021.8 | 1,440.9 | ||
IT Operations Management [Member] | Licence [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 175.1 | 237.5 | 363.1 | ||
IT Operations Management [Member] | Maintenance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 559.4 | 645.8 | 869.9 | ||
IT Operations Management [Member] | SaaS & Other Recurring [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 4.6 | 11 | 15.1 | ||
IT Operations Management [Member] | Consulting [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 113.9 | 127.5 | 192.8 | ||
Security [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 646.1 | 681.3 | 994.8 | ||
Security [Member] | Licence [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 162.6 | 185.7 | 291.6 | ||
Security [Member] | Maintenance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 416.8 | 416.7 | 580.2 | ||
Security [Member] | SaaS & Other Recurring [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 33.6 | 35 | 41.6 | ||
Security [Member] | Consulting [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 33.1 | 43.9 | 81.4 | ||
Information Management & Governance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 401.2 | 421.7 | 620.1 | ||
Information Management & Governance [Member] | Licence [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 68.2 | 75.6 | 117.2 | ||
Information Management & Governance [Member] | Maintenance [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 184.2 | 183.6 | 267.2 | ||
Information Management & Governance [Member] | SaaS & Other Recurring [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | 133.4 | 145.9 | 203.1 | ||
Information Management & Governance [Member] | Consulting [Member] | |||||
Revenue by product [Abstract] | |||||
Revenue before deferred revenue haircut | $ 15.4 | $ 16.6 | $ 32.6 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Profit_(loss)before tax (Detail
Profit/(loss)before tax (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Profit/(loss)before tax [Abstract] | ||||
Staff costs | $ 1,344.4 | $ 1,409 | $ 2,095 | |
Depreciation of property, plant and equipment | 42 | 52.6 | 71.2 | |
Depreciation of right-of-use assets (2019 and 2018: finance lease depreciation) | [1] | 76.9 | 13.9 | 17.4 |
Loss on disposal of property, plant and equipment | 5.6 | 3.6 | 4.7 | |
Amortization of intangibles | 674.1 | 716.5 | 903.1 | |
Operating lease rentals payable [Abstract] | ||||
Plant and machinery | [1] | 0 | 7 | 8.8 |
Property | [1] | 0 | 58.9 | 85.3 |
Provision for receivables impairment (release)/charge | (4.8) | 16 | 40 | |
Foreign exchange loss/(gain) on derivative financial instruments | 21.8 | (6.9) | 0 | |
Foreign exchange loss/(gain) | $ 7.9 | 18.2 | $ (37.4) | |
Depreciation of property, plant and equipment [Abstract] | ||||
Depreciation expense, leased assets | $ 13.9 | |||
[1] | $13.9 million and $17.4 million of depreciation on leased assets was included in depreciation of property, plant and equipment in the 12 months ended October 31, 2019 and the 18-months ended October 31, 2018 respectively. No depreciation in relation to leased assets is included in depreciation of property, plant and equipment in the period as all leased assets are classified as right-of-use assets following the adoption of IFRS 16. |
Exceptional items (Details)
Exceptional items (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Reported within Operating (loss)/profit [Abstract] | ||||||
Goodwill impairment | $ 900 | $ 2,800 | $ 0 | |||
Gain on disposal of Atalla | 0 | (3.7) | $ 0 | |||
Operating profit | 2,661.4 | (221.7) | [1] | (376.8) | [2] | |
Reported within finance costs [Abstract] | ||||||
Finance costs incurred in escrow period | 0 | 6.4 | ||||
Reported within finance income [Abstract] | ||||||
Finance income earned in escrow period | 0 | (0.6) | ||||
Finance income (costs) incurred in escrow period | 0 | 5.8 | ||||
(Loss)/Profit before tax | 2,940.4 | 34.1 | [1] | (34.1) | [2] | |
Tax [Abstract] | ||||||
Total tax charge/(credit) | 34.2 | (16) | [1] | (673.1) | [2] | |
Reported within profit from discontinued operation (attributable to equity shareholders of the Company) [Abstract] | ||||||
Loss/(gain) on disposal of discontinued operation | (5.1) | (1,487.2) | [1] | (76.9) | [2] | |
Exceptional Items Adjustments [Member] | ||||||
Reported within Operating (loss)/profit [Abstract] | ||||||
Integration costs | 152.6 | 245.9 | 279 | |||
Pre-acquisition costs | 0 | 0 | 43 | |||
Acquisition costs | 0.2 | 1.5 | 27.1 | |||
Property-related costs | 15.2 | 16.3 | 38.1 | |||
Severance and legal costs | 33.7 | 32.1 | 129.7 | |||
Other restructuring costs | 10.7 | 0 | 0 | |||
Divestiture | 0 | 2.1 | 21.3 | |||
Goodwill impairment | 2,799.2 | 0 | 0 | |||
Gain on disposal of Atalla | 0 | (3.7) | 0 | |||
Operating profit | 3,011.6 | 294.2 | 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 | 3,011.6 | 294.2 | 544 | |||
Tax [Abstract] | ||||||
Tax effect of exceptional items | (38.7) | (54.3) | (105.9) | |||
Tax exceptional item | 0 | 0 | (692.3) | |||
Total tax charge/(credit) | (38.7) | (54.3) | (798.2) | |||
Reported within profit from discontinued operation (attributable to equity shareholders of the Company) [Abstract] | ||||||
Loss/(gain) on disposal of discontinued operation | 2.2 | (1,458.5) | 0 | |||
Exceptional costs/(profit) after tax | $ 2,975.1 | $ (1,218.6) | $ (254.2) | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Exceptional items, Summary of C
Exceptional items, Summary of Costs, Divestiture and Tax (Details) - USD ($) $ in Millions | Sep. 01, 2017 | Apr. 30, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Exceptional items summary [Abstract] | |||||||
Goodwill impairment charge | $ 900 | $ 2,800 | $ 0 | ||||
Gain on disposal of Atalla | 0 | 3.7 | $ 0 | ||||
Finance costs | (281.6) | (282.4) | [1] | (350.4) | [2] | ||
Finance income | 2.6 | 26.6 | [1] | 7.7 | [2] | ||
Taxation | $ (34.2) | 16 | [1] | 673.1 | [2] | ||
Tax credit from re-measurement of deferred tax liabilities | 930.6 | ||||||
Transition tax charge | 238.3 | ||||||
Transition tax charge payable period | 8 years | ||||||
Loss/(gain) on disposal of discontinued operation | $ (5.1) | (1,487.2) | [1] | (76.9) | [2] | ||
HPE Software Business [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Acquisition costs | $ 70.1 | ||||||
Exceptional Items Adjustments [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Integration costs | 152.6 | 245.9 | 279 | ||||
Pre-acquisition costs | 0 | 0 | 43 | ||||
Acquisition costs | 0.2 | 1.5 | 27.1 | ||||
Property-related costs | 15.2 | 16.3 | 38.1 | ||||
Severance and legal costs | 33.7 | 32.1 | 129.7 | ||||
Other restructuring costs | 10.7 | 0 | 0 | ||||
Divestiture costs | 0 | 2.1 | 21.3 | ||||
Goodwill impairment charge | 2,799.2 | 0 | 0 | ||||
Gain on disposal of Atalla | 0 | 3.7 | 0 | ||||
Finance costs | 0 | 0 | (6.4) | ||||
Finance income | 0 | 0 | 0.6 | ||||
Taxation | 38.7 | 54.3 | 798.2 | ||||
Tax exceptional item | 0 | 0 | (692.3) | ||||
Loss/(gain) on disposal of discontinued operation | 2.2 | (1,458.5) | 0 | ||||
Exceptional Items Adjustments [Member] | HPE Software Business [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Pre-acquisition costs | 0 | 43 | |||||
Acquisition costs | 0.2 | 1.5 | 27.1 | ||||
Severance and legal costs | 33.7 | 32.1 | 129.7 | ||||
Finance costs | 0 | 0 | 6.4 | ||||
Finance income | 0 | 0 | 0.6 | ||||
Exceptional Items Adjustments [Member] | SUSE [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Divestiture costs | 2.1 | $ 21.3 | |||||
Loss/(gain) on disposal of discontinued operation | $ 2.2 | $ (1,458.5) | |||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
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, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Services provided by the Group's auditors and network of firms [Abstract] | |||
Audit of Company | $ 7.2 | $ 12.8 | $ 12.2 |
ICOFR audit | 2.7 | 3 | 0 |
Audit of subsidiaries | 2.9 | 3.9 | 1.9 |
Total audit | 12.8 | 19.7 | 14.1 |
Audit-related assurance services | 0.6 | 0.6 | 0.9 |
Other assurance services | 0 | 0 | 0.7 |
Total assurance services | 0.6 | 0.6 | 1.6 |
Tax compliance services | 0 | 0 | 0.2 |
Tax advisory services | 0 | 0.1 | 0.2 |
Services relating to taxation | 0 | 0.1 | 0.4 |
Other non-audit services | 0 | 0 | 0.1 |
Total | $ 13.4 | $ 20.4 | $ 16.2 |
Finance income and finance co_3
Finance income and finance costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Finance costs [Abstract] | |||||
Interest on bank borrowings | $ 176.1 | $ 225.4 | $ 276.5 | ||
Commitment fees | 1.7 | 1.9 | 3.3 | ||
Amortization of facility costs and original issue discounts | 58 | 46.7 | 60.4 | ||
Finance costs on bank borrowings | 235.8 | 274 | 340.2 | ||
Net interest expense on retirement obligations | 1.8 | 2.4 | 2.8 | ||
Interest on lease liabilities | 13.2 | 2 | 2.7 | ||
Interest rate swaps: cash flow hedges | 23.7 | 0 | 3.4 | ||
Other | 7.1 | 4 | 1.3 | ||
Total | 281.6 | 282.4 | [1] | 350.4 | [2] |
Finance income [Abstract] | |||||
Bank interest | 2.4 | 16.3 | 3.6 | ||
Interest on non-plan pension assets | 0.2 | 0.3 | 0.6 | ||
Interest rate swaps: cash flow hedges | 0 | 9.9 | 0 | ||
Other | 0 | 0.1 | 3.5 | ||
Total | 2.6 | 26.6 | [1] | 7.7 | [2] |
Net finance cost | $ 279 | 255.8 | [1] | 342.7 | [2] |
Included within exceptional items [Abstract] | |||||
Finance costs incurred in escrow period | 0 | 6.4 | |||
Finance income earned in escrow period | 0 | (0.6) | |||
Finance income (costs) incurred in escrow period | $ 0 | $ 5.8 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Taxation, Current and Deferred
Taxation, Current and Deferred Tax (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | Apr. 30, 2017 | Oct. 31, 2018 | |||
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | ||||||
Deferred tax relating to items credited (debited) directly to equity | $ (1.5) | $ (7.6) | ||||
Current tax relating to items credited (charged) directly to hedging reserve | 7.8 | 23.3 | $ (16.4) | |||
Deferred tax relating to items credited directly to foreign exchange movements on intangibles | (8.7) | 14 | 0 | |||
Current Tax [Abstract] | ||||||
Current year | 175.4 | 163.9 | 245.8 | |||
Adjustments to tax in respect of previous periods | 7.8 | (35.3) | (14.7) | |||
Current tax | 183.2 | 128.6 | 231.1 | |||
Deferred Tax [Abstract] | ||||||
Origination and reversal of temporary differences | (195.3) | (139.7) | 26.4 | |||
Adjustments to tax in respect of previous periods | 10.7 | 24.5 | 1.2 | |||
Previously unrecognized temporary differences | 0 | (29.4) | 0 | |||
Impact of changes in tax rates | 35.6 | 0 | (931.8) | |||
Deferred tax | (149) | (144.6) | (904.2) | |||
Total tax charge/(credit) | 34.2 | (16) | [1] | $ (673.1) | [2] | |
IFRS16 [Member] | ||||||
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | ||||||
Impact of adoption | 1.8 | |||||
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 | (5) | 13 | $ 4.3 | |||
Deferred tax credit to currency translation differences | 11.1 | |||||
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 | (1.5) | (7.6) | (23.7) | |||
Current tax relating to items credited (debited) directly to equity | $ 0.1 | $ 13.1 | $ 4.1 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Taxation, Differences in Tax Ch
Taxation, Differences in Tax Charges (Details) - USD ($) $ in Millions | 7 Months Ended | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Tax rate [Abstract] | ||||||
Tax rate | 19.00% | |||||
Differences in Income Tax [Abstract] | ||||||
(Loss)/profit before taxation | $ (2,940.4) | $ (34.1) | [1] | $ 34.1 | [2] | |
Tax at UK corporation tax rate 19.00% (2019: 19.00% , 2018: 19.00%) | (558.7) | (6.5) | 6.5 | |||
Effects of [Abstract] | ||||||
Tax rates other than the UK standard rate | (78) | (4.4) | 17.8 | |||
Intra-Group financing | (21) | (42.8) | (52.5) | |||
Innovation tax credit benefits | (31.8) | (13.5) | (21.4) | |||
Interest restrictions | 0 | 31.8 | ||||
US foreign inclusion income | 20.4 | 43.7 | 39 | |||
Share options | 4.1 | 7.1 | 10.2 | |||
US transition tax | 0 | 238.3 | ||||
Movement in deferred tax not recognized | 11.1 | 14.4 | 7.3 | |||
Previously unrecognized temporary differences | 0 | (29.4) | 0 | |||
Impact of rate changes | 35.6 | 0 | (931.9) | |||
Goodwill impairment | 592.8 | 0 | 0 | |||
Expenses not deductible and other permanent differences | 41.2 | 26.2 | (4.7) | |||
Effect of income tax | 15.7 | (5.2) | (659.6) | |||
Adjustments to tax in respect of previous periods [Abstract] | ||||||
Current tax | 7.8 | (35.3) | (14.7) | |||
Deferred tax | 10.7 | 24.5 | 1.2 | |||
Adjustments to tax in respect of previous periods | 18.5 | (10.8) | (13.5) | |||
Total tax charge/(credit) | $ 34.2 | $ (16) | [1] | $ (673.1) | [2] | |
UK [Member] | ||||||
Tax rate [Abstract] | ||||||
Tax rate | 19.00% | 19.00% | 19.00% | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Taxation, Benefit Offered by Ju
Taxation, Benefit Offered by Jurisdictions (Details) - USD ($) $ in Millions | 7 Months Ended | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Tax rate [Abstract] | ||||
Percentage of applicable income tax rate | 19.00% | |||
Percentage of previously enacted tax rate reduction | 17.00% | |||
Remeasurement percentage of deferred tax assets and liabilities | 19.00% | |||
Impact of changes in tax rates | $ 35.6 | $ 0 | $ (931.8) | |
Uncertain tax positions | $ 4.6 | 4.6 | ||
Irrecoverable withholding tax | 6.5 | |||
Collection proceedings | $ 45.2 | |||
Number of days for settlement of collection proceedings | 30 days | |||
Maximum potential tax liability | $ 60 | $ 60 |
Taxation, Current Tax Receivabl
Taxation, Current Tax Receivables, Current Tax Liabilities and Non-Current Tax Liabilities (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | |
Current tax receivables [Abstract] | |||
Corporation tax | $ 45.3 | $ 40.1 | [1] |
Current tax liabilities [Abstract] | |||
Corporation tax | 150.1 | 104 | [1] |
Income tax reserve included in current tax liabilities | 84.8 | 78.3 | |
Non-current tax liabilities [Abstract] | |||
Corporation tax | $ 102.7 | $ 119.7 | [1] |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Taxation, Net Deferred tax liab
Taxation, Net Deferred tax liability (Details) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Net Deferred tax liability [Abstract] | ||
Net Deferred tax liability | $ (987.1) | $ (1,170.5) |
Credited to consolidated statement of comprehensive income: | 147.9 | 188.7 |
Debited directly to equity in relation to share options | (1.5) | (7.6) |
(Debited)/credited to other comprehensive income: | (2.5) | 27 |
Foreign exchange adjustment | 0.3 | (11.8) |
Net Deferred tax liability | (841.1) | (987.1) |
IFRS 9 [Member] | ||
Net Deferred tax liability [Abstract] | ||
Impact of adoption of IFRS standard | 0 | 4.4 |
IFRS 15 [Member] | ||
Net Deferred tax liability [Abstract] | ||
Impact of adoption of IFRS standard | 0 | (17.3) |
IFRS 16 [Member] | ||
Net Deferred tax liability [Abstract] | ||
Impact of adoption of IFRS standard | 1.8 | 0 |
Continuing Operations [Member] | ||
Net Deferred tax liability [Abstract] | ||
Credited to consolidated statement of comprehensive income: | 149 | 156.4 |
Discontinued Operation [Member] | ||
Net Deferred tax liability [Abstract] | ||
Credited to consolidated statement of comprehensive income: | $ (1.1) | $ 32.3 |
Taxation, Deferred Tax Assets (
Taxation, Deferred Tax Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Deferred tax assets [Abstract] | ||
Deferred tax assets | $ 309.5 | $ 309.3 |
Credited directly to equity | (1.5) | (7.6) |
Debited to Other comprehensive income | 6.2 | 13 |
Foreign exchange adjustment | 0.2 | 0.3 |
Deferred tax assets | 397.3 | 309.5 |
Jurisdictional offsetting | (397.3) | (309.5) |
Deferred tax assets | 0 | 0 |
IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | 4.4 |
HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax asset relating to other temporary differences | 69.7 | 88.6 |
Tax Losses and Interest Restrictions [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 100.5 | 26.6 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Deferred tax assets | 133.5 | 100.5 |
Tax Losses and Interest Restrictions [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 5 | 17.4 |
Credited directly to equity | (1.5) | (7.6) |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0.3 |
Deferred tax assets | 0.8 | 5 |
Share Based Payments [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 108.6 | 119.9 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Deferred tax assets | 90.5 | 108.6 |
Deferred Revenue [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 0 | 41.9 |
Credited directly to equity | 0 | |
Debited to Other comprehensive income | 0 | |
Foreign exchange adjustment | 0 | |
Deferred tax assets | 0 | |
Prepaid Royalty [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 6.8 | 29.7 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Deferred tax assets | 16.3 | 6.8 |
Tax Credits [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 0 | 3 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 0 | 0 |
Foreign exchange adjustment | (0.2) | 0 |
Deferred tax assets | 0 | 0 |
Intangible Fixed Assets [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 0 | |
Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 88.6 | 70.8 |
Credited directly to equity | 0 | 0 |
Debited to Other comprehensive income | 6.2 | 13 |
Foreign exchange adjustment | 0.4 | 0 |
Deferred tax assets | 69.7 | 88.6 |
Other Temporary Differences [Member] | IFRS 9 [Member] | ||
Deferred tax assets [Abstract] | ||
Impact of adoption of IFRS standard | 4.4 | |
Research and Development [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 0 | |
Credited directly to equity | 0 | |
Debited to Other comprehensive income | 0 | |
Foreign exchange adjustment | 0 | |
Deferred tax assets | 86.5 | 0 |
Continuing Operations [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 13.6 | |
(Charged)/credited to Consolidated statement of comprehensive income | 70.4 | 1.7 |
Continuing Operations [Member] | Tax Losses and Interest Restrictions [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 0 | |
(Charged)/credited to Consolidated statement of comprehensive income | 33 | 73.9 |
Continuing Operations [Member] | Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 0 | |
(Charged)/credited to Consolidated statement of comprehensive income | (2.7) | (5.1) |
Continuing Operations [Member] | Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 0 | |
(Charged)/credited to Consolidated statement of comprehensive income | (18.1) | (12) |
Continuing Operations [Member] | Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (41.9) | |
Continuing Operations [Member] | Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 0 | |
(Charged)/credited to Consolidated statement of comprehensive income | 9.5 | (22.9) |
Continuing Operations [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 0 | |
(Charged)/credited to Consolidated statement of comprehensive income | 0.2 | (3) |
Continuing Operations [Member] | Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 0 | |
(Charged)/credited to Consolidated statement of comprehensive income | (24.4) | 12.7 |
Continuing Operations [Member] | Research and Development [Member] | ||
Deferred tax assets [Abstract] | ||
Transferred from deferred tax liabilities | 13.6 | |
(Charged)/credited to Consolidated statement of comprehensive income | 72.9 | |
Discontinued Operation [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (1.1) | (11.6) |
Discontinued Operation [Member] | Tax Losses and Interest Restrictions [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | 0 |
Discontinued Operation [Member] | Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | 0 |
Discontinued Operation [Member] | Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | 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 | 0 |
Discontinued Operation [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | 0 | 0 |
Discontinued Operation [Member] | Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | (1.1) | $ (12.3) |
Discontinued Operation [Member] | Research and Development [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to Consolidated statement of comprehensive income | $ 0 |
Taxation, Type of Temporary Dif
Taxation, Type of Temporary Difference (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 |
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | $ 2,374.7 | $ 2,513.3 |
Credits | 61.4 | 41.8 |
Other | 112.3 | 23.9 |
Total | 2,548.4 | 2,579 |
Expiration: 2021 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 5 | 56.3 |
Credits | 3.5 | 3.5 |
Other | 0 | 0 |
Total | 8.5 | 59.8 |
Expiration: 2022 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 11.9 | 99.2 |
Credits | 3.1 | 3.6 |
Other | 0 | 0 |
Total | 15 | 102.8 |
Expiration: 2023 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 23.7 | 40.1 |
Credits | 1.8 | 2.1 |
Other | 0 | 0 |
Total | 25.5 | 42.2 |
Expiration: 2024 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 43.4 | 33.6 |
Credits | 1.4 | 1.3 |
Other | 0 | 0 |
Total | 44.8 | 34.9 |
Expiration: 2025 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 13.3 | 41.8 |
Credits | 0.7 | 0.7 |
Other | 0 | 0 |
Total | 14 | 42.5 |
Thereafter [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 2,226.7 | 2,191.6 |
Credits | 5.5 | 1.7 |
Other | 88.4 | 0 |
Total | 2,320.6 | 2,193.3 |
No Expiry [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 50.7 | 50.7 |
Credits | 45.4 | 28.9 |
Other | 23.9 | 23.9 |
Total | $ 120 | $ 103.5 |
Taxation, Deferred Tax Liabilit
Taxation, Deferred Tax Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | ||
Deferred tax liabilities [Abstract] | |||
Deferred tax liabilities | $ (1,296.6) | $ (1,479.8) | |
Transferred to deferred tax assets | (13.6) | ||
Charged/(credited) to consolidated statement of comprehensive income | 43.9 | ||
Foreign exchange adjustment | 0.1 | (12.1) | |
Deferred tax liabilities | (1,238.4) | (1,296.6) | |
Jurisdictional offsetting | 397.3 | 309.5 | |
Deferred tax liabilities, after jurisdictional offsetting | (841.1) | (987.1) | [1] |
IFRS16 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | 1.8 | ||
IFRS 15 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | 0 | (17.3) | |
Intangible Fixed Assets [Member] | |||
Deferred tax liabilities [Abstract] | |||
Deferred tax liabilities | (1,257.1) | (1,448.5) | |
Transferred to deferred tax assets | 0 | ||
Charged/(credited) to consolidated statement of comprehensive income | 34 | ||
Foreign exchange adjustment | (0.1) | (12.1) | |
Deferred tax liabilities | (1,180.5) | (1,257.1) | |
Intangible Fixed Assets [Member] | IFRS16 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | 0 | ||
Intangible Fixed Assets [Member] | IFRS 15 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | 0 | ||
Other Temporary Differences [Member] | |||
Deferred tax liabilities [Abstract] | |||
Deferred tax liabilities | (53.1) | ||
Transferred to deferred tax assets | 0 | ||
Foreign exchange adjustment | 0.2 | ||
Deferred tax liabilities | (57.9) | (53.1) | |
Other Temporary Differences [Member] | IFRS16 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | 1.8 | ||
Research and Development [Member] | |||
Deferred tax liabilities [Abstract] | |||
Deferred tax liabilities | 13.6 | ||
Transferred to deferred tax assets | (13.6) | ||
Foreign exchange adjustment | 0 | ||
Deferred tax liabilities | 0 | 13.6 | |
Research and Development [Member] | IFRS16 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | 0 | ||
Other Temporary Differences and Research and Development [Member] | |||
Deferred tax liabilities [Abstract] | |||
Deferred tax liabilities | (39.5) | (31.3) | |
Charged/(credited) to consolidated statement of comprehensive income | 9.9 | ||
Foreign exchange adjustment | 0 | ||
Deferred tax liabilities | (39.5) | ||
Other Temporary Differences and Research and Development [Member] | IFRS 15 [Member] | |||
Deferred tax liabilities [Abstract] | |||
Impact of adoption | (17.3) | ||
Continuing Operations [Member] | |||
Deferred tax liabilities [Abstract] | |||
Charged/(credited) to consolidated statement of comprehensive income | 78.6 | 154.7 | |
Credited to other comprehensive income | (8.7) | 14 | |
Continuing Operations [Member] | Intangible Fixed Assets [Member] | |||
Deferred tax liabilities [Abstract] | |||
Charged/(credited) to consolidated statement of comprehensive income | 85.4 | 155.5 | |
Credited to other comprehensive income | (8.7) | 14 | |
Continuing Operations [Member] | Other Temporary Differences [Member] | |||
Deferred tax liabilities [Abstract] | |||
Charged/(credited) to consolidated statement of comprehensive income | (6.8) | ||
Credited to other comprehensive income | 0 | ||
Continuing Operations [Member] | Research and Development [Member] | |||
Deferred tax liabilities [Abstract] | |||
Charged/(credited) to consolidated statement of comprehensive income | 0 | ||
Credited to other comprehensive income | $ 0 | ||
Continuing Operations [Member] | Other Temporary Differences and Research and Development [Member] | |||
Deferred tax liabilities [Abstract] | |||
Charged/(credited) to consolidated statement of comprehensive income | (0.8) | ||
Credited to other comprehensive income | $ 0 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Dividends (Details)
Dividends (Details) - USD ($) $ / shares in Units, $ in Millions | 6 Months Ended | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Equity - ordinary [Abstract] | ||||
Final paid | $ 0 | $ 240.7 | $ 133.9 | |
First interim paid | 0 | 198.5 | 156.2 | |
Second interim paid | 0 | 252.1 | ||
Total dividend paid | $ 0 | $ 0 | $ 439.2 | $ 542.2 |
Final paid (in dollars per share) | $ 0.5833 | $ 0.5833 | ||
First Interim paid (in dollars per share) | 0.5833 | 0.3460 | ||
Second interim paid (in dollars per share) | 0 | $ 0.5833 | ||
Final dividend payable (in dollars per share) | $ 15.5 | |||
Final dividend payable date | Apr. 15, 2021 | |||
Dividend payable record date | Mar. 12, 2021 | |||
Unrecognized final dividend | $ 51.9 |
Earnings per share (Details)
Earnings per share (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | 18 Months Ended | |||||||||||||||||||||||||||||||||||
Oct. 31, 2020shares | Oct. 31, 2020USD ($) | Oct. 31, 2020£ / shares | Oct. 31, 2020$ / shares | Oct. 31, 2020$ / £ | Oct. 31, 2020$ / € | Oct. 31, 2020$ / $ | Oct. 31, 2020JPY (¥) | Oct. 31, 2020$ / ¥ | Oct. 31, 2020$ / ₨ | Oct. 31, 2020$ / ₪ | 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, 2019JPY (¥) | Oct. 31, 2019$ / ₪ | 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, 2018JPY (¥) | Oct. 31, 2018$ / ₪ | |||||||||
Earnings [Abstract] | |||||||||||||||||||||||||||||||||||||
(Loss)/profit for the period from continuing operations | $ (2,974.6) | $ (18.1) | [1] | $ 707.2 | [2] | ||||||||||||||||||||||||||||||||
Profit for the period from discontinued operation | 5.1 | 1,487.2 | [1] | 76.9 | [2] | ||||||||||||||||||||||||||||||||
Profit/(loss) for the period | (2,969.5) | 1,469.1 | [1] | 784.1 | [2] | ||||||||||||||||||||||||||||||||
Number of shares [Abstract] | |||||||||||||||||||||||||||||||||||||
Weighted average number of shares (in shares) | shares | 335.7 | 378.1 | 388.7 | ||||||||||||||||||||||||||||||||||
Dilutive effects of shares (in shares) | shares | 0 | 4.1 | 11 | ||||||||||||||||||||||||||||||||||
Number of shares (in shares) | shares | 335.7 | 382.2 | 399.7 | ||||||||||||||||||||||||||||||||||
Basic earnings per share [Abstract] | |||||||||||||||||||||||||||||||||||||
Continuing operations (in dollars / pounds per share) | (per share) | £ (6.93) | $ (8.86) | £ (0.04) | [1] | $ (0.05) | [1] | £ 1.37 | [2] | $ 1.82 | [2] | |||||||||||||||||||||||||||
Discontinued operation (in dollars / pounds per share) | (per share) | 0.01 | 0.02 | 3.09 | 3.93 | 0.15 | 0.20 | |||||||||||||||||||||||||||||||
Total Basic earnings per share (in dollars / pounds per share) | (per share) | (6.92) | (8.85) | 3.05 | [1] | 3.89 | [1] | 1.52 | [2] | 2.02 | [2] | |||||||||||||||||||||||||||
Diluted earnings per share [Abstract] | |||||||||||||||||||||||||||||||||||||
Continuing operations (in dollars / pounds per share) | (per share) | (6.93) | [3] | (8.86) | [3] | (0.04) | [1],[3] | (0.05) | [1],[3] | 1.33 | [2] | 1.77 | [2] | |||||||||||||||||||||||||
Discontinued operation (in dollars / pounds per share) | (per share) | 0.01 | 0.02 | 3.06 | 3.89 | 0.14 | 0.19 | |||||||||||||||||||||||||||||||
Total Diluted earnings per share (in dollars / pounds per share) | (per share) | £ (6.92) | [3] | $ (8.85) | [3] | £ 3.02 | [1],[3] | $ 3.84 | [1],[3] | £ 1.47 | [2] | $ 1.96 | [2] | |||||||||||||||||||||||||
Earnings attributable to ordinary shareholders [Abstract] | |||||||||||||||||||||||||||||||||||||
Profit/(loss) from continuing operations | (2,974.6) | (18.1) | [1] | 707.2 | [2] | ||||||||||||||||||||||||||||||||
Excluding non-controlling interests | 0 | (0.3) | [1] | (0.1) | [2] | ||||||||||||||||||||||||||||||||
(Loss)/profit for the period from continuing operations | (2,974.6) | (18.4) | 707.1 | ||||||||||||||||||||||||||||||||||
Profit for the period from discontinued operation | 5.1 | 1,487.2 | [1] | 76.9 | [2] | ||||||||||||||||||||||||||||||||
Earnings attributable to ordinary shareholders | $ (2,969.5) | $ 1,468.8 | [1] | $ 784 | [2] | ||||||||||||||||||||||||||||||||
Average exchange rate | 1.28 | 1.13 | 0.74 | 93 | 0.14 | 0.01 | 0.29 | 1.27 | 1.12 | 0.75 | 110 | 0.28 | 1.33 | 1.18 | 0.78 | 90 | 0.28 | ||||||||||||||||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||||||||||||||||||||||||||||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | ||||||||||||||||||||||||||||||||||||
[3] | The Group reported a loss from continuing and discontinued operations attributable to the ordinary equity shareholders of the Company for the 12 months ended October 31, 2020. The Diluted EPS is reported as equal to Basic EPS, as no account can be taken of the effect of dilutive securities under IAS 33. |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |||
Apr. 30, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | |||
Goodwill [Abstract] | |||||
Goodwill, Beginning period | [1] | $ 6,671.3 | $ 6,671.3 | ||
Impairment charge for the period | 900 | 2,800 | $ 0 | ||
Goodwill, Ending period | 3,835.4 | 6,671.3 | [1] | ||
Cost [Member] | |||||
Goodwill [Abstract] | |||||
Goodwill, Beginning period | 6,671.3 | 6,671.3 | 6,805 | ||
Acquisitions | 1.4 | 26.8 | |||
Effects of movements in exchange rates | (38.1) | (160.5) | |||
Goodwill, Ending period | 6,634.6 | 6,671.3 | |||
Impairment Losses [Member] | |||||
Goodwill [Abstract] | |||||
Goodwill, Beginning period | 0 | 0 | 0 | ||
Impairment charge for the period | (2,799.2) | 0 | |||
Goodwill, Ending period | (2,799.2) | 0 | |||
Atar Labs [Member] | |||||
Goodwill [Abstract] | |||||
Acquisitions | 1.4 | ||||
Interset Software Inc. [Member] | |||||
Goodwill [Abstract] | |||||
Acquisitions | 26.8 | ||||
Micro Focus Product Portfolio [Member] | |||||
Goodwill [Abstract] | |||||
Goodwill, Beginning period | $ 6,671.3 | 6,671.3 | |||
Goodwill, Ending period | $ 3,835.4 | $ 6,671.3 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Goodwill, Impairment Test (Deta
Goodwill, Impairment Test (Details) - USD ($) $ in Billions | 6 Months Ended | 12 Months Ended | |
Apr. 30, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | |
Impairment Test [Abstract] | |||
Goodwill impairment charge | $ 0.9 | $ 2.8 | $ 0 |
Additional impairment charges | $ 1.9 | ||
Micro Focus CGU [Member] | |||
Impairment Test [Abstract] | |||
CGU recoverable amount | $ 9.3 |
Goodwill, Key Assumptions (Deta
Goodwill, Key Assumptions (Details) | Oct. 31, 2020 | Oct. 31, 2019 | |
Goodwill [Abstract] | |||
Long-term cash flow growth rate for terminal value | 1.00% | 1.00% | |
Pre-tax discount rate | [1] | 10.90% | 10.30% |
Post-tax discount rate | 8.20% | 8.00% | |
Bottom of Range [Member] | |||
Goodwill [Abstract] | |||
Average annual revenue growth rate by product group | [2] | (8.10%) | (2.40%) |
Medium term annual revenue growth rate by product group | 2.00% | ||
Top of Range [Member] | |||
Goodwill [Abstract] | |||
Average annual revenue growth rate by product group | [2] | 2.20% | 0.80% |
Medium term annual revenue growth rate by product group | 2.10% | ||
[1] | This equates to a post-tax discount rate of 8.2% (2019: 8.0%). | ||
[2] | Medium-term annual revenue growth rate by product group was considered the key assumption in 2019 with a range of (2.0)% to 2.1% disclosed. Given the future macro-economic uncertainty caused by the on-going pandemic at the April 30, 2020 impairment test the Group extended the key assumption going forward to cover the five years forecasts used for impairment testing. The key assumption for 2019 has been revised to be presented on a consistent basis with 2020. |
Goodwill, Sensitivity Analysis
Goodwill, Sensitivity Analysis (Details) - USD ($) $ in Billions | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Goodwill [Abstract] | ||
Discount rate | 1.00% | |
Increase in discount rate | 11.90% | |
Increase in impairment recognized due to increase in discount rate | $ 0.8 | |
Decrease in discount rate | 9.90% | |
Decrease in impairment recognized due to decrease in discount rate | $ 1 | |
Decrease in average annual revenue growth rate | 2.00% | |
Increase in impairment recognized due to decrease in average annual growth rate | $ 2 | |
Change in long term growth rate | 0.50% | |
Decrease in impairment recognized due to increase in long term growth rate | $ 0.3 | |
Increase in impairment recognized due to decrease in long term growth rate | $ 0.3 | |
Bottom of Range [Member] | ||
Goodwill [Abstract] | ||
Change in long term growth rate | 0.50% | |
Top of Range [Member] | ||
Goodwill [Abstract] | ||
Change in long term growth rate | 1.50% | |
Micro Focus CGU [Member] | ||
Goodwill [Abstract] | ||
Change in discount rate | 1.00% | 2.00% |
Other intangible assets (Detail
Other intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | ||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | $ 5,942.3 | [1] | $ 6,629.3 | ||
Other Intangible Assets, ending | 5,383 | 5,942.3 | [1] | ||
Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 69.8 | 91 | |||
Other Intangible Assets, ending | 78 | 69.8 | |||
Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 42.7 | 52.4 | |||
Other Intangible Assets, ending | 36.1 | 42.7 | |||
Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 1,509.7 | 1,679.6 | |||
Other Intangible Assets, ending | 1,335.5 | 1,509.7 | |||
Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 199.3 | 218.8 | |||
Other Intangible Assets, ending | 181.3 | 199.3 | |||
Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 4,119 | 4,575.7 | |||
Other Intangible Assets, ending | 3,752.1 | 4,119 | |||
Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 1.8 | 11.8 | |||
Other Intangible Assets, ending | 0 | 1.8 | |||
Cost [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 8,172.9 | 8,218.6 | |||
Additions | 71.7 | 28.8 | |||
Disposals | (11.2) | (26.5) | |||
Effects of movements in exchange rates | 59.1 | (94.8) | |||
Other Intangible Assets, ending | 8,299.9 | 8,172.9 | |||
Cost [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 6.6 | ||||
Cost [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 61.2 | ||||
Cost [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0.8 | 0.5 | |||
Cost [Member] | Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 146.7 | 141.1 | |||
Additions | 55.5 | 12.3 | |||
Disposals | (11.2) | (7.4) | |||
Effects of movements in exchange rates | 0.5 | 0.7 | |||
Other Intangible Assets, ending | 191.5 | 146.7 | |||
Cost [Member] | Purchased Software [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Purchased Software [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Purchased Software [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0 | 0 | |||
Cost [Member] | Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 257 | 259.1 | |||
Additions | 16.2 | 16.5 | |||
Disposals | 0 | (19.1) | |||
Effects of movements in exchange rates | 0 | 0 | |||
Other Intangible Assets, ending | 274 | 257 | |||
Cost [Member] | Product Development Costs [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Product Development Costs [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Product Development Costs [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0.8 | 0.5 | |||
Cost [Member] | Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 2,178.6 | 2,158.5 | |||
Additions | 0 | 0 | |||
Disposals | 0 | 0 | |||
Effects of movements in exchange rates | 16 | (24.4) | |||
Other Intangible Assets, ending | 2,201.2 | 2,178.6 | |||
Cost [Member] | Technology [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 6.6 | ||||
Cost [Member] | Technology [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 44.5 | ||||
Cost [Member] | Technology [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0 | 0 | |||
Cost [Member] | Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 267.3 | 267.7 | |||
Additions | 0 | 0 | |||
Disposals | 0 | 0 | |||
Effects of movements in exchange rates | 1.9 | (4.6) | |||
Other Intangible Assets, ending | 269.2 | 267.3 | |||
Cost [Member] | Trade Names [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Trade Names [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 4.2 | ||||
Cost [Member] | Trade Names [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0 | 0 | |||
Cost [Member] | Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 5,323.3 | 5,377.2 | |||
Additions | 0 | 0 | |||
Disposals | 0 | 0 | |||
Effects of movements in exchange rates | 40.7 | (66.4) | |||
Other Intangible Assets, ending | 5,364 | 5,323.3 | |||
Cost [Member] | Customer Relationships [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Customer Relationships [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 12.5 | ||||
Cost [Member] | Customer Relationships [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0 | 0 | |||
Cost [Member] | Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 0 | 15 | |||
Additions | 0 | 0 | |||
Disposals | 0 | 0 | |||
Effects of movements in exchange rates | 0 | (0.1) | |||
Other Intangible Assets, ending | 0 | 0 | |||
Cost [Member] | Lease Contracts [Member] | Atar Labs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Lease Contracts [Member] | Interset Software Inc. [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Acquisitions | 0 | ||||
Cost [Member] | Lease Contracts [Member] | External Consultants [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Additions | 0 | 0 | |||
Accumulated Amortization [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (2,232.4) | (1,589.3) | |||
Disposals | 10.6 | 26.5 | |||
Amortization charge for the year | 674.1 | 716.5 | |||
Effects of movements in exchange rates | 21 | (33.8) | |||
Other Intangible Assets, ending | (2,916.9) | (2,232.4) | |||
Accumulated Amortization [Member] | Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (76.9) | (50.1) | |||
Disposals | 10.6 | 7.4 | |||
Amortization charge for the year | 46.5 | 34.1 | |||
Effects of movements in exchange rates | 0.7 | 0.1 | |||
Other Intangible Assets, ending | (113.5) | (76.9) | |||
Accumulated Amortization [Member] | Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (214.3) | (206.7) | |||
Disposals | 0 | 19.1 | |||
Amortization charge for the year | 23.5 | 26.7 | |||
Effects of movements in exchange rates | 0.1 | 0 | |||
Other Intangible Assets, ending | (237.9) | (214.3) | |||
Accumulated Amortization [Member] | Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (668.9) | (478.9) | |||
Disposals | 0 | 0 | |||
Amortization charge for the year | 190.2 | 200.1 | |||
Effects of movements in exchange rates | 6.6 | (10.1) | |||
Other Intangible Assets, ending | (865.7) | (668.9) | |||
Accumulated Amortization [Member] | Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (68) | (48.9) | |||
Disposals | 0 | 0 | |||
Amortization charge for the year | 19.1 | 20.9 | |||
Effects of movements in exchange rates | 0.8 | (1.8) | |||
Other Intangible Assets, ending | (87.9) | (68) | |||
Accumulated Amortization [Member] | Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (1,204.3) | (801.5) | |||
Disposals | 0 | 0 | |||
Amortization charge for the year | 394.8 | 424.8 | |||
Effects of movements in exchange rates | 12.8 | (22) | |||
Other Intangible Assets, ending | (1,611.9) | (1,204.3) | |||
Accumulated Amortization [Member] | Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 0 | (3.2) | |||
Disposals | 0 | 0 | |||
Amortization charge for the year | 0 | 9.9 | |||
Effects of movements in exchange rates | 0 | 0 | |||
Other Intangible Assets, ending | 0 | 0 | |||
Previously Stated [Member] | Cost [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 8,187.8 | ||||
Other Intangible Assets, ending | 8,187.8 | ||||
Previously Stated [Member] | Cost [Member] | Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 146.7 | ||||
Other Intangible Assets, ending | 146.7 | ||||
Previously Stated [Member] | Cost [Member] | Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 257 | ||||
Other Intangible Assets, ending | 257 | ||||
Previously Stated [Member] | Cost [Member] | Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 2,178.6 | ||||
Other Intangible Assets, ending | 2,178.6 | ||||
Previously Stated [Member] | Cost [Member] | Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 267.3 | ||||
Other Intangible Assets, ending | 267.3 | ||||
Previously Stated [Member] | Cost [Member] | Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 5,323.3 | ||||
Other Intangible Assets, ending | 5,323.3 | ||||
Previously Stated [Member] | Cost [Member] | Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | 14.9 | ||||
Other Intangible Assets, ending | 14.9 | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (2,245.5) | ||||
Other Intangible Assets, ending | (2,245.5) | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (76.9) | ||||
Other Intangible Assets, ending | (76.9) | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (214.3) | ||||
Other Intangible Assets, ending | (214.3) | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (668.9) | ||||
Other Intangible Assets, ending | (668.9) | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (68) | ||||
Other Intangible Assets, ending | (68) | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (1,204.3) | ||||
Other Intangible Assets, ending | (1,204.3) | ||||
Previously Stated [Member] | Accumulated Amortization [Member] | Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | (13.1) | ||||
Other Intangible Assets, ending | (13.1) | ||||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | (14.9) | |||
Other Intangible Assets, ending | [2] | (14.9) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | (14.9) | |||
Other Intangible Assets, ending | [2] | (14.9) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | (13.1) | |||
Other Intangible Assets, ending | [2] | (13.1) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | Purchased Software [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | Product Development Costs [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | Technology [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | Trade Names [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | Customer Relationships [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | 0 | |||
Other Intangible Assets, ending | [2] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Amortization [Member] | Lease Contracts [Member] | |||||
Other Intangible Assets [Abstract] | |||||
Other Intangible Assets, beginning | [2] | $ (13.1) | |||
Other Intangible Assets, ending | [2] | $ (13.1) | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | ||||
[2] | Lease contracts have been reclassified to right-of-use assets following the adoption of IFRS 16 on November 1, 2019. |
Other intangible assets, Effect
Other intangible assets, Effect of Movements in Exchange Rates and Expenditures (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Other Intangible Assets [Abstract] | ||||
Total expenditure | $ 72.5 | $ 29.3 | ||
Intangible assets other than goodwill | 5,383 | 5,942.3 | [1] | $ 6,629.3 |
Accumulated Amortization [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | (2,916.9) | (2,232.4) | (1,589.3) | |
Purchased Software [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Total expenditure | 55.5 | |||
Intangible assets other than goodwill | 78 | 69.8 | 91 | |
Purchased Software [Member] | Accumulated Amortization [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | (113.5) | (76.9) | (50.1) | |
Product Development Costs [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Total expenditure | 17 | |||
Intangible assets other than goodwill | 36.1 | 42.7 | 52.4 | |
Product Development Costs [Member] | Internal Consultants [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Total expenditure | 16.2 | 16.5 | ||
Product Development Costs [Member] | External Consultants [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Total expenditure | 0.8 | 0.5 | ||
Product Development Costs [Member] | Accumulated Amortization [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | (237.9) | (214.3) | (206.7) | |
Purchased intangibles [Member] | Atar Labs [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Total expenditure | 6.6 | |||
Purchased intangibles [Member] | Interset Software Inc. [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Total expenditure | 61.2 | |||
Technology [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | $ 1,335.5 | 1,509.7 | 1,679.6 | |
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 | 9 years | |||
Technology [Member] | HPE Software Business [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Unamortized lives | 9 years | |||
Intangible assets other than goodwill | $ 1,200 | |||
Technology [Member] | Accumulated Amortization [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | (865.7) | (668.9) | (478.9) | |
Trade Names [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | $ 181.3 | 199.3 | 218.8 | |
Trade Names [Member] | Bottom of Range [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Unamortized lives | 4 years | |||
Trade Names [Member] | Top of Range [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Unamortized lives | 16 years | |||
Trade Names [Member] | Accumulated Amortization [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | $ (87.9) | (68) | (48.9) | |
Customer Relationships [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | $ 3,752.1 | 4,119 | 4,575.7 | |
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 | 12 years | |||
Customer Relationships [Member] | HPE Software Business [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | $ 3,500 | |||
Customer Relationships [Member] | HPE Software Business [Member] | Top of Range [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Unamortized lives | 12 years | |||
Customer Relationships [Member] | Accumulated Amortization [Member] | ||||
Other Intangible Assets [Abstract] | ||||
Intangible assets other than goodwill | $ (1,611.9) | $ (1,204.3) | $ (801.5) | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Other intangible assets, Consol
Other intangible assets, Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
For continuing operations [Abstract] | |||||
Total amortization charge for the year | $ 674.1 | $ 716.5 | $ 903.1 | ||
Research and development | 513.6 | 491.2 | [1] | $ 680.8 | [2] |
Product Development Costs [Member] | |||||
For continuing operations [Abstract] | |||||
Total amortization charge for the year | 23.5 | 26.7 | |||
Research and development | 16.2 | 16.5 | |||
Purchased Technology [Member] | |||||
For continuing operations [Abstract] | |||||
Total amortization charge for the year | 190.2 | 200.1 | |||
Purchased Trade Names, Customer Relationships and Lease Contracts [Member] | |||||
For continuing operations [Abstract] | |||||
Total amortization charge for the year | 413.9 | 455.6 | |||
Purchased Software [Member] | |||||
For continuing operations [Abstract] | |||||
Total amortization charge for the year | $ 46.5 | $ 34.1 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Property, plant and equipment_2
Property, plant and equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | ||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | $ 140.5 | [1] | $ 144.3 | ||
Property, plant and equipment, end of period | 93.7 | 140.5 | [1] | ||
Depreciation | 42 | 66.5 | |||
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 | 224.7 | 225.9 | |||
Additions | 36.1 | 65.3 | |||
Other | [2] | (9.8) | |||
Disposals | (37.9) | (6.6) | |||
Reclassification to current assets classified as held for sale | 0 | ||||
Effects of movements in exchange rates | 0.2 | 0.2 | |||
Property, plant and equipment, end of period | 213.3 | 224.7 | |||
Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (109.7) | (81.6) | |||
Disposals | 32.3 | 3 | |||
Charge for the period | (42) | (66.5) | |||
Reclassification to current assets classified as held for sale | 0 | ||||
Effects of movements in exchange rates | (0.2) | 0.5 | |||
Property, plant and equipment, end of period | (119.6) | (109.7) | |||
Freehold Land and Buildings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 12.1 | ||||
Property, plant and equipment, end of period | 11.5 | ||||
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 | 14.3 | |||
Additions | 0 | 0 | |||
Other | [2] | 0 | |||
Disposals | 0 | 0 | |||
Reclassification to current assets classified as held for sale | 0 | ||||
Effects of movements in exchange rates | 0 | (0.3) | |||
Property, plant and equipment, end of period | 14 | 14 | |||
Freehold Land and Buildings [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (2.2) | (2.2) | |||
Disposals | 0 | 0 | |||
Charge for the period | (0.3) | (0.3) | |||
Reclassification to current assets classified as held for sale | 0 | ||||
Effects of movements in exchange rates | 0 | 0.3 | |||
Property, plant and equipment, end of period | (2.5) | (2.2) | |||
Leasehold Improvements [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 44.9 | ||||
Property, plant and equipment, end of period | 36.3 | ||||
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 | 103.7 | 79.2 | |||
Additions | 4.8 | 37.7 | |||
Other | (9.8) | [2] | 0 | ||
Disposals | (15.3) | (3.6) | |||
Reclassification to current assets classified as held for sale | 0 | ||||
Effects of movements in exchange rates | 0.2 | 0.2 | |||
Property, plant and equipment, end of period | 83.6 | 103.7 | |||
Leasehold Improvements [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (46.5) | (34.3) | |||
Disposals | 11 | 1.7 | |||
Charge for the period | (11.9) | (18.8) | |||
Reclassification to current assets classified as held for sale | 0 | ||||
Effects of movements in exchange rates | 0.1 | (0.3) | |||
Property, plant and equipment, end of period | (47.3) | (46.5) | |||
Computer Equipment [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 66.7 | ||||
Property, plant and equipment, end of period | 38.4 | ||||
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 | 93.8 | 103.3 | |||
Additions | 28.4 | 24.6 | |||
Other | [2] | 0 | |||
Disposals | (14.1) | (3) | |||
Reclassification to current assets classified as held for sale | 19.8 | ||||
Effects of movements in exchange rates | (0.2) | (0.5) | |||
Property, plant and equipment, end of period | 107.9 | 93.8 | |||
Computer Equipment [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (55.4) | (36.6) | |||
Disposals | 13.5 | 1.3 | |||
Charge for the period | (27.6) | (46.1) | |||
Reclassification to current assets classified as held for sale | (4.6) | ||||
Effects of movements in exchange rates | 0 | 0.9 | |||
Property, plant and equipment, end of period | (69.5) | (55.4) | |||
Fixtures and Fittings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 20.6 | ||||
Property, plant and equipment, end of period | 7.5 | ||||
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 | 13.2 | 29.1 | |||
Additions | 2.9 | 3 | |||
Other | [2] | 0 | |||
Disposals | (8.5) | 0 | |||
Reclassification to current assets classified as held for sale | (19.8) | ||||
Effects of movements in exchange rates | 0.2 | 0.8 | |||
Property, plant and equipment, end of period | 7.8 | 13.2 | |||
Fixtures and Fittings [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (5.6) | (8.5) | |||
Disposals | 7.8 | 0 | |||
Charge for the period | (2.2) | (1.3) | |||
Reclassification to current assets classified as held for sale | 4.6 | ||||
Effects of movements in exchange rates | (0.3) | (0.4) | |||
Property, plant and equipment, end of period | (0.3) | (5.6) | |||
Right-of-use Assets [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Depreciation | 13.9 | ||||
IFRS 16 [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 115 | ||||
Property, plant and equipment, end of period | 115 | ||||
IFRS 16 [Member] | Freehold Land and Buildings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 11.8 | ||||
Property, plant and equipment, end of period | 11.8 | ||||
IFRS 16 [Member] | Leasehold Improvements [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 57.2 | ||||
Property, plant and equipment, end of period | 57.2 | ||||
IFRS 16 [Member] | Computer Equipment [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 38.4 | ||||
Property, plant and equipment, end of period | 38.4 | ||||
IFRS 16 [Member] | Fixtures and Fittings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 7.6 | ||||
Property, plant and equipment, end of period | 7.6 | ||||
Previously Stated [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 140.5 | ||||
Property, plant and equipment, end of period | 140.5 | ||||
Previously Stated [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 285.1 | ||||
Property, plant and equipment, end of period | 285.1 | ||||
Previously Stated [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (144.6) | ||||
Property, plant and equipment, end of period | (144.6) | ||||
Previously Stated [Member] | Freehold Land and Buildings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 11.8 | ||||
Property, plant and equipment, end of period | 11.8 | ||||
Previously Stated [Member] | Freehold Land and Buildings [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 14 | ||||
Property, plant and equipment, end of period | 14 | ||||
Previously Stated [Member] | Freehold Land and Buildings [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (2.2) | ||||
Property, plant and equipment, end of period | (2.2) | ||||
Previously Stated [Member] | Leasehold Improvements [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 61.8 | ||||
Property, plant and equipment, end of period | 61.8 | ||||
Previously Stated [Member] | Leasehold Improvements [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 113.5 | ||||
Property, plant and equipment, end of period | 113.5 | ||||
Previously Stated [Member] | Leasehold Improvements [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (51.7) | ||||
Property, plant and equipment, end of period | (51.7) | ||||
Previously Stated [Member] | Computer Equipment [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 59.3 | ||||
Property, plant and equipment, end of period | 59.3 | ||||
Previously Stated [Member] | Computer Equipment [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 144.4 | ||||
Property, plant and equipment, end of period | 144.4 | ||||
Previously Stated [Member] | Computer Equipment [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (85.1) | ||||
Property, plant and equipment, end of period | (85.1) | ||||
Previously Stated [Member] | Fixtures and Fittings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 7.6 | ||||
Property, plant and equipment, end of period | 7.6 | ||||
Previously Stated [Member] | Fixtures and Fittings [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | 13.2 | ||||
Property, plant and equipment, end of period | 13.2 | ||||
Previously Stated [Member] | Fixtures and Fittings [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | (5.6) | ||||
Property, plant and equipment, end of period | (5.6) | ||||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (25.5) | |||
Property, plant and equipment, end of period | [3] | (25.5) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (60.4) | |||
Property, plant and equipment, end of period | [3] | (60.4) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (34.9) | |||
Property, plant and equipment, end of period | [3] | (34.9) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Freehold Land and Buildings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | 0 | |||
Property, plant and equipment, end of period | [3] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Freehold Land and Buildings [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | 0 | |||
Property, plant and equipment, end of period | [3] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Freehold Land and Buildings [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | 0 | |||
Property, plant and equipment, end of period | [3] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Leasehold Improvements [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (4.6) | |||
Property, plant and equipment, end of period | [3] | (4.6) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Leasehold Improvements [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (9.8) | |||
Property, plant and equipment, end of period | [3] | (9.8) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Leasehold Improvements [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (5.2) | |||
Property, plant and equipment, end of period | [3] | (5.2) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Computer Equipment [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (20.9) | |||
Property, plant and equipment, end of period | [3] | (20.9) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Computer Equipment [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (50.6) | |||
Property, plant and equipment, end of period | [3] | (50.6) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Computer Equipment [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | (29.7) | |||
Property, plant and equipment, end of period | [3] | (29.7) | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Fixtures and Fittings [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | 0 | |||
Property, plant and equipment, end of period | [3] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Fixtures and Fittings [Member] | Cost [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | 0 | |||
Property, plant and equipment, end of period | [3] | 0 | |||
Transfers to Right-of-use Assets [Member] | IFRS 16 [Member] | Fixtures and Fittings [Member] | Accumulated Depreciation [Member] | |||||
Property, Plant and Equipment [Abstract] | |||||
Property, plant and equipment, beginning of period | [3] | $ 0 | |||
Property, plant and equipment, end of period | [3] | $ 0 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | ||||
[2] | Other movements of $9.8 million (2019: $nil) relates to amounts received in relation to the reimbursement of leasehold improvement costs. | ||||
[3] | Property, plant and equipment held under finance leases and hire purchase contracts under IAS 17 and assets recognized in relation to asset retirement obligations on leased asset have been reclassified to right-of-use assets following the adoption of IFRS 16 on November 1, 2019. |
Other non-current assets (Detai
Other non-current assets (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | |
Other non-current assets [Abstract] | |||
Employee benefit deposit | $ 17.9 | $ 33.4 | |
Long-term rent deposits | 5.3 | 4.9 | |
Long-term prepaid expenses | 2.3 | 4.5 | |
Net investment in finance sub-leases | 5.5 | 0 | |
Other | 0.8 | 1.2 | |
Other non-current assets | 31.8 | 44 | [1] |
Germany [Member] | |||
Other non-current assets [Abstract] | |||
Employee benefit deposit | 16.4 | ||
Israel [Member] | |||
Other non-current assets [Abstract] | |||
Employee benefit deposit | 12.8 | 11.9 | |
Italy [Member] | |||
Other non-current assets [Abstract] | |||
Employee benefit deposit | 2.4 | 2.4 | |
Netherlands [Member] | |||
Other non-current assets [Abstract] | |||
Employee benefit deposit | $ 2.7 | $ 2.7 | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Trade and other receivables (De
Trade and other receivables (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Trade and other receivables [Abstract] | ||||
Trade receivables | $ 628.4 | $ 877.9 | ||
Loss allowance | (17.9) | (42.4) | $ (41.9) | |
Trade receivables net | 610.5 | 835.5 | ||
Prepayments | 49.1 | 53.9 | ||
Other receivables | 38.1 | 87.2 | ||
Contract assets | 33.7 | 56.3 | ||
Trade and other receivables | $ 731.4 | $ 1,032.9 | [1] | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Trade and other receivables, Ag
Trade and other receivables, Ageing of Impairment (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 |
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | $ 628.4 | $ 877.9 | |
Loss allowance | (17.9) | (42.4) | $ (41.9) |
Trade receivables net | 610.5 | 835.5 | |
Current [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 561.4 | 696 | |
Loss allowance | (6.1) | (8.9) | |
Trade receivables net | 555.3 | 687.1 | |
Up to Three Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 42.3 | 110.1 | |
Loss allowance | (0.9) | (3.8) | |
Trade receivables net | 41.4 | 106.3 | |
Three to Four Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 4.3 | 8.9 | |
Loss allowance | (0.4) | (1.5) | |
Trade receivables net | 3.9 | 7.4 | |
Over Four Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Gross trade receivables | 20.4 | 62.9 | |
Loss allowance | (10.5) | (28.2) | |
Trade receivables net | $ 9.9 | $ 34.7 |
Trade and other receivables, Pr
Trade and other receivables, Provision for Impairment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Provision for Impairment of Trade Receivables [Abstract] | ||
Beginning balance | $ 42.4 | $ 41.9 |
Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) | 0 | 20 |
Revised beginning balance | 42.4 | 61.9 |
Loss allowance (releases)/provided in the year | (4.8) | 16 |
Receivables written off as uncollectable | (19.7) | (35.5) |
Ending balance | 17.9 | $ 42.4 |
Increase decrease in contract assets due to change in invoicing year | $ 20 |
Contract-related costs (Details
Contract-related costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Contract assets [Abstract] | ||||
Current | $ 27.9 | $ 19.3 | [1] | |
Non-current | 35.7 | 31.5 | [1] | |
Total | $ 63.6 | 50.8 | ||
Average customer life | 5 years | |||
Disclosure of assets recognized from costs to obtain or fulfil contracts with customers [Abstract] | ||||
Asset recognized from costs incurred to acquire a contract | $ 29.1 | 31.4 | ||
Amortization and impairment loss recognized as cost of providing services during the year | $ (16.1) | $ (10.2) | $ 0 | |
Top of Range [Member] | ||||
Contract assets [Abstract] | ||||
Expected amortization period, costs not capitalized | 1 year | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | [1] | Apr. 30, 2017 | [1] | |
Cash and cash equivalents [Abstract] | |||||||
Cash at bank and in hand | $ 374.3 | $ 292.2 | |||||
Short-term bank deposits | 362.9 | 63.5 | |||||
Cash and cash equivalents | $ 737.2 | $ 355.7 | [1] | $ 620.9 | $ 151 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Cash and cash equivalents, Cred
Cash and cash equivalents, Credit Quality (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | [1] | Apr. 30, 2017 | [1] | |
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | $ 737.2 | $ 355.7 | [1] | $ 620.9 | $ 151 | ||
AAA [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 358.4 | 69.8 | |||||
AA- [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 27.2 | 87.6 | |||||
A+ [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 318.6 | 144.4 | |||||
A [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 9.9 | 23.4 | |||||
A- [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 9.1 | 14.4 | |||||
BBB+ [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 2.4 | 1.7 | |||||
BBB [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 2.7 | 4.5 | |||||
BBB- [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 0.4 | 0.8 | |||||
BB+ [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 0.6 | 0.8 | |||||
BB [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 1.1 | 0.3 | |||||
BB- [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 4.3 | 6.3 | |||||
B+ [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 0.2 | 0.2 | |||||
CCC+ [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 1.1 | 0 | |||||
C- [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | 1.2 | 0 | |||||
Not Rated [Member] | |||||||
Credit quality of cash and cash equivalents [Abstract] | |||||||
Cash and cash equivalents | $ 0 | $ 1.5 | |||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Trade and other payables - cu_3
Trade and other payables - current (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | |
Trade and other payables - current [Abstract] | |||
Trade payables | $ 71.5 | $ 105 | |
Trade and social security | 84.3 | 80.7 | |
Accruals | 347.7 | 425.3 | |
Total trade and other payables | 503.5 | 611 | [1] |
Vacation and payroll | 82.8 | 88.4 | |
Commission and employee bonuses | 90.5 | 74.9 | |
Integration and divestiture expenses | 30.1 | 26.4 | |
Consulting and audit fees | $ 23.8 | $ 36.9 | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Borrowings, Details of Borrowin
Borrowings, Details of Borrowings (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Disclosure of detailed information about borrowings [abstract] | ||||
Current borrowings | $ 21.4 | $ 0 | [1] | |
Non-current liabilities | 4,618.9 | 4,670.7 | [1] | |
Borrowings | 4,640.3 | 4,670.7 | ||
Unamortized prepaid facility arrangement fees and original issue discounts, current | (12.8) | 0 | ||
Unamortized prepaid facility arrangement fees and original issue discounts, noncurrent | (80.1) | (104.3) | ||
Unamortized prepaid facility arrangement fees and original issue discounts | (92.9) | (104.3) | ||
Bank Loan Secured [Member] | ||||
Disclosure of detailed information about borrowings [abstract] | ||||
Current borrowings | 34.2 | 0 | ||
Non-current liabilities | 4,699 | 4,775 | ||
Borrowings | $ 4,733.2 | $ 4,775 | $ 4,996.9 | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Borrowings, Facilities (Details
Borrowings, Facilities (Details) € in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | 18 Months Ended | |||||||||||
May 31, 2020USD ($) | Oct. 31, 2020USD ($)Installment | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | Oct. 31, 2020EUR (€) | Sep. 30, 2020USD ($) | Sep. 29, 2020USD ($) | Sep. 03, 2020USD ($) | Sep. 02, 2020USD ($) | Jun. 30, 2020USD ($) | May 29, 2020USD ($)€ / $ | May 29, 2020EUR (€)€ / $ | |||
Borrowing facilities [Abstract] | ||||||||||||||
Unamortized prepaid facility arrangement fees and original issue discounts | $ 92.9 | $ 104.3 | ||||||||||||
Amortization period for remaining unamortized fees | 3 years | |||||||||||||
Unamortized prepaid facility arrangement fees and original issue discounts, current | $ 12.8 | 0 | ||||||||||||
Borrowings | 4,640.3 | 4,670.7 | ||||||||||||
Estimated fair value of borrowings | 4,535.1 | 4,686 | ||||||||||||
Short-term borrowing | 21.4 | 0 | [1] | |||||||||||
Original discount rate on debt issuance | 3.00% | 3.00% | ||||||||||||
Repayment of bank borrowings | $ 1,589.7 | 212.6 | [1] | $ 252.9 | [1] | |||||||||
Percentage of additional debt repayments with net leverage of 3.00x | 25.00% | |||||||||||||
Percentage of additional debt repayments with net leverage of 3.30x | 50.00% | |||||||||||||
Bottom of Range [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Facility arrangement costs and debt discounts amortization period | 3 years | |||||||||||||
Aggregate net leverage covenant percentage | 35.00% | |||||||||||||
Top of Range [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Facility arrangement costs and debt discounts amortization period | 6 years | |||||||||||||
LIBOR [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings, interest rate | 4.25% | 4.25% | ||||||||||||
Borrowing interest rate floor | 0.00% | 0.00% | ||||||||||||
Original discount rate on debt issuance | 2.50% | 2.50% | ||||||||||||
EURIBOR [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings, interest rate | € / $ | 4.50% | 4.50% | ||||||||||||
Borrowing interest rate floor | € / $ | 0.00% | 0.00% | ||||||||||||
Bank Loan Secured [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 4,733.2 | 4,775 | 4,996.9 | |||||||||||
Estimated fair value of borrowings | 4,535.1 | 4,686 | ||||||||||||
Short-term borrowing | 34.2 | 0 | ||||||||||||
Repayment of bank borrowings | 1,589.7 | 212.6 | ||||||||||||
Debt unamortized facility fees | $ 44 | |||||||||||||
Senior Secured Term Loan B-1 by MA FinanceCo LLC [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 700.3 | 0 | 0 | € 600 | ||||||||||
Borrowings, maturity | P5Y | |||||||||||||
Maturity date | Jun. 30, 2025 | |||||||||||||
Original discount rate on debt issuance | € / $ | 3.00% | 3.00% | ||||||||||||
Repayment of bank borrowings | $ 0 | 0 | ||||||||||||
Senior Secured Term Loan B-1 by MA FinanceCo LLC [Member] | EURIBOR [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings, interest rate | 4.50% | 4.50% | ||||||||||||
Borrowing interest rate floor | 0.00% | 0.00% | ||||||||||||
Senior Secured Term Loan B-2 by MA FinanceCo LLC [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 0 | 1,414.7 | 1,503.8 | |||||||||||
Repayment of bank borrowings | 1,414.7 | 89.1 | ||||||||||||
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 2,486.3 | 2,486.3 | 2,580.5 | |||||||||||
Borrowings, maturity | P7Y | |||||||||||||
Maturity date | Jun. 30, 2024 | |||||||||||||
Original discount rate on debt issuance | 0.25% | 0.25% | ||||||||||||
Repayment of bank borrowings | $ 0 | 94.2 | ||||||||||||
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | LIBOR [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings, interest rate | 2.75% | 2.75% | ||||||||||||
Borrowing interest rate floor | 0.00% | 0.00% | ||||||||||||
Senior Secured Term Loan B-3 by MA FinanceCo LLC [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 368.2 | 368.2 | 382.1 | |||||||||||
Borrowings, maturity | P7Y | |||||||||||||
Maturity date | Jun. 30, 2024 | |||||||||||||
Original discount rate on debt issuance | 0.25% | 0.25% | ||||||||||||
Repayment of bank borrowings | $ 0 | 13.9 | ||||||||||||
Senior Secured Term Loan B-3 by MA FinanceCo LLC [Member] | LIBOR [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings, interest rate | 2.75% | 2.75% | ||||||||||||
Borrowing interest rate floor | 0.00% | 0.00% | ||||||||||||
Senior Secured Term Loan B-4 by MA FinanceCo LLC [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 650 | 0 | 0 | |||||||||||
Borrowings, maturity | P5Y | |||||||||||||
Maturity date | Jun. 30, 2025 | |||||||||||||
Original discount rate on debt issuance | 2.50% | 2.50% | ||||||||||||
Repayment of bank borrowings | $ 0 | 0 | ||||||||||||
Senior Secured Term Loan B-4 by MA FinanceCo LLC [Member] | LIBOR [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings, interest rate | 4.25% | 4.25% | ||||||||||||
Borrowing interest rate floor | 1.00% | 1.00% | ||||||||||||
Senior Secured Term Loan B by MA FinanceCo LLC [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 528.4 | € 452.8 | ||||||||||||
Borrowings, maturity | P7Y | |||||||||||||
Maturity date | Jun. 30, 2024 | |||||||||||||
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 | 3.00% | 3.00% | ||||||||||||
Borrowing interest rate floor | 0.00% | 0.00% | ||||||||||||
Revolving Credit Facility [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 0 | 0 | $ 0 | |||||||||||
Borrowings, interest rate | 3.50% | 3.50% | ||||||||||||
Borrowing interest rate floor | 0.00% | 0.00% | ||||||||||||
Borrowing capacity | $ 0 | 0 | $ 350 | $ 500 | $ 350 | $ 500 | ||||||||
Repayment of bank borrowings | 175 | 0 | ||||||||||||
Undrawn amount on borrowing facilities | $ 350 | |||||||||||||
Interest rate on undrawn borrowings amount | 0.50% | 0.50% | ||||||||||||
Debt unamortized facility fees | 4.5 | |||||||||||||
Debt instrument, facility fees | $ 1.8 | |||||||||||||
Term Loans [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 1,415 | $ 4,733.2 | ||||||||||||
Repayment of bank borrowings | $ 143 | |||||||||||||
Senior Secured Revolving Credit Facility [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 0 | $ 0 | ||||||||||||
Senior Secured Term Loan B [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Borrowings | $ 650 | € 600 | ||||||||||||
Borrowings, maturity | P5Y | |||||||||||||
Cash reserves | $ 143 | |||||||||||||
Prepaid facility fees to be amortized | $ 12.2 | |||||||||||||
Senior Secured Term Loan B-3, Seattle Spinco and Euro Term B Loans [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Percentage of repayments of borrowings | 1.00% | |||||||||||||
Number of installments | Installment | 4 | |||||||||||||
Senior Secured Term Loans B-1 and B-4 [Member] | ||||||||||||||
Borrowing facilities [Abstract] | ||||||||||||||
Percentage of repayments of borrowings | 2.50% | |||||||||||||
Number of installments | Installment | 4 | |||||||||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Borrowings, Movements on Groups
Borrowings, Movements on Groups Loans (Details) € in Millions, $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2020USD ($) | Oct. 31, 2020EUR (€) | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | |||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | $ 4,670.7 | |||||
Draw downs | 1,490.8 | $ 0 | [1] | $ 1,043.8 | [1] | |
Repayments | (1,589.7) | (212.6) | [1] | (252.9) | [1] | |
Ending balance | 4,640.3 | 4,670.7 | ||||
Estimated fair value of borrowings | 4,535.1 | 4,686 | ||||
Bank Loan Secured [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 4,775 | 4,996.9 | ||||
Draw downs | 1,490.8 | |||||
Repayments | (1,589.7) | (212.6) | ||||
Foreign exchange | 57.1 | (9.3) | ||||
Ending balance | 4,733.2 | 4,775 | 4,996.9 | |||
Estimated fair value of borrowings | 4,535.1 | 4,686 | ||||
Term Loan B-1 [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 0 | 0 | ||||
Draw downs | 665.8 | |||||
Repayments | 0 | 0 | ||||
Foreign exchange | 34.5 | 0 | ||||
Ending balance | 700.3 | € 600 | 0 | 0 | ||
Term Loan B-2 [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 1,414.7 | 1,503.8 | ||||
Draw downs | 0 | |||||
Repayments | (1,414.7) | (89.1) | ||||
Foreign exchange | 0 | 0 | ||||
Ending balance | 0 | 1,414.7 | 1,503.8 | |||
Term Loan B-3 [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 368.2 | 382.1 | ||||
Draw downs | 0 | |||||
Repayments | 0 | (13.9) | ||||
Foreign exchange | 0 | 0 | ||||
Ending balance | 368.2 | 368.2 | 382.1 | |||
Term Loan B-4 [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 0 | 0 | ||||
Draw downs | 650 | |||||
Repayments | 0 | 0 | ||||
Foreign exchange | 0 | 0 | ||||
Ending balance | 650 | 0 | 0 | |||
Seattle Spinco Term Loan B [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 2,486.3 | 2,580.5 | ||||
Draw downs | 0 | |||||
Repayments | 0 | (94.2) | ||||
Foreign exchange | 0 | 0 | ||||
Ending balance | 2,486.3 | 2,486.3 | 2,580.5 | |||
Euro Term Loan B [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 505.8 | 530.5 | ||||
Draw downs | 0 | |||||
Repayments | 0 | (15.4) | ||||
Foreign exchange | 22.6 | (9.3) | ||||
Ending balance | 528.4 | 505.8 | 530.5 | |||
Revolving Facility [Member] | ||||||
Borrowings, movements on groups loans [Abstract] | ||||||
Beginning balance | 0 | 0 | ||||
Draw downs | 175 | |||||
Repayments | (175) | 0 | ||||
Foreign exchange | 0 | 0 | ||||
Ending balance | $ 0 | $ 0 | $ 0 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Borrowings, Maturity of Borrowi
Borrowings, Maturity of Borrowings (Details) € in Millions, $ in Millions | Oct. 31, 2020USD ($) | Oct. 31, 2020EUR (€) | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) |
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | $ 4,640.3 | $ 4,670.7 | ||
Interest payment on debt | 654.6 | 805.5 | ||
Borrowings maturity | 5,387.8 | 5,580.5 | ||
Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 34.2 | 0 | ||
Interest payment on debt | 169.4 | 209.2 | ||
Borrowings maturity | 203.6 | 209.2 | ||
1-3 Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 128.2 | 1,431.7 | ||
Interest payment on debt | 326.3 | 360.8 | ||
Borrowings maturity | 454.5 | 1,792.5 | ||
In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 224.2 | 209.2 | ||
In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 230.3 | 1,583.3 | ||
In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 3,487.7 | 179.1 | ||
3-5 Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 4,570.8 | 3,343.3 | ||
Interest payment on debt | 158.9 | 235.5 | ||
Borrowings maturity | 4,729.7 | 3,578.8 | ||
In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 1,242 | 3,399.7 | ||
Bank Loan Secured [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 4,733.2 | 4,775 | $ 4,996.9 | |
Term Loan B-1 [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 700.3 | € 600 | 0 | 0 |
Borrowings maturity | 838.4 | |||
Term Loan B-1 [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 49 | |||
Term Loan B-1 [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 52.6 | |||
Term Loan B-1 [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 47.4 | |||
Term Loan B-1 [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 46.6 | |||
Term Loan B-1 [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 642.8 | |||
Term Loan B-2 [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 0 | 1,414.7 | 1,503.8 | |
Borrowings maturity | 1,542.9 | |||
Term Loan B-2 [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 61.6 | |||
Term Loan B-2 [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 61.5 | |||
Term Loan B-2 [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 1,419.8 | |||
Term Loan B-2 [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | |||
Term Loan B-2 [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | |||
Term Loan B-3 [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 368.2 | 368.2 | 382.1 | |
Borrowings maturity | 407.7 | 446.5 | ||
Term Loan B-3 [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 11 | 17 | ||
Term Loan B-3 [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 12.4 | 16.9 | ||
Term Loan B-3 [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 14.6 | 18.5 | ||
Term Loan B-3 [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 369.7 | 20.6 | ||
Term Loan B-3 [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | 373.5 | ||
Term Loan B-4 [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 650 | 0 | 0 | |
Borrowings maturity | 799.4 | |||
Term Loan B-4 [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 50.3 | |||
Term Loan B-4 [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 53.5 | |||
Term Loan B-4 [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 48.6 | |||
Term Loan B-4 [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 47.8 | |||
Term Loan B-4 [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 599.2 | |||
Seattle Spinco Term Loan B [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 2,486.3 | 2,486.3 | 2,580.5 | |
Borrowings maturity | 2,752.2 | 3,015 | ||
Seattle Spinco Term Loan B [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 74.6 | 114.6 | ||
Seattle Spinco Term Loan B [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 82.7 | 114.3 | ||
Seattle Spinco Term Loan B [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 98.4 | 124.1 | ||
Seattle Spinco Term Loan B [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 2,496.5 | 139.4 | ||
Seattle Spinco Term Loan B [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | 2,522.6 | ||
Euro Term Loan B [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 528.4 | 505.8 | 530.5 | |
Borrowings maturity | 586.8 | 570.7 | ||
Euro Term Loan B [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 16.9 | 14.1 | ||
Euro Term Loan B [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 21.5 | 14.6 | ||
Euro Term Loan B [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 21.3 | 19.3 | ||
Euro Term Loan B [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 527.1 | 19.1 | ||
Euro Term Loan B [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | 503.6 | ||
Revolving Facility [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Debt principal repayment | 0 | 0 | $ 0 | |
Borrowings maturity | 3.3 | 5.4 | ||
Revolving Facility [Member] | Within One Year [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 1.8 | 1.9 | ||
Revolving Facility [Member] | In One to Two Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 1.5 | 1.9 | ||
Revolving Facility [Member] | In Two to Three Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | 1.6 | ||
Revolving Facility [Member] | In Three to Four Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | 0 | 0 | ||
Revolving Facility [Member] | In Four to Five Years [Member] | ||||
Borrowings, maturities [Abstract] | ||||
Borrowings maturity | $ 0 | $ 0 |
Leases (Details)
Leases (Details) $ in Millions | 12 Months Ended |
Oct. 31, 2020USD ($)ft²PropertyOptionterm | |
Leases [Abstract] | |
Number of leased properties | Property | 2 |
Provo, Utah Property [Member] | |
Leases [Abstract] | |
Area of office space leased | ft² | 405,700 |
Number of options to extend lease period | Optionterm | 3 |
Lease extension period | 5 years |
Annual rent | $ 8.4 |
Annual sub-lease income | $ 1.1 |
Santa Clara, California Property [Member] | |
Leases [Abstract] | |
Area of office space leased | ft² | 635,000 |
Number of options to extend lease period | Optionterm | 1 |
Lease extension period | 5 years |
Annual rent | $ 4.7 |
Leases, Right-of-use Assets (De
Leases, Right-of-use Assets (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Right-of-use assets [Abstract] | |||||
Balance | [1] | $ 0 | |||
Balance | 207.2 | $ 0 | [1] | ||
Depreciation of right-of-use assets | [2] | 76.9 | 13.9 | $ 17.4 | |
Additions to right-of-use assets | 42 | ||||
IFRS 16 [Member] | |||||
Right-of-use assets [Abstract] | |||||
Depreciation of right-of-use assets | 76.9 | ||||
Revised [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 253.4 | ||||
Balance | 253.4 | ||||
Depreciation [Member] | |||||
Right-of-use assets [Abstract] | |||||
Depreciation of right-of-use assets | 76.9 | ||||
Leasehold Land and Buildings [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 180.1 | ||||
Leasehold Land and Buildings [Member] | Revised [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 223.6 | ||||
Balance | 223.6 | ||||
Leasehold Land and Buildings [Member] | Depreciation [Member] | |||||
Right-of-use assets [Abstract] | |||||
Depreciation of right-of-use assets | 60.3 | ||||
Computer Equipment [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 20.4 | ||||
Computer Equipment [Member] | Revised [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 20.8 | ||||
Balance | 20.8 | ||||
Computer Equipment [Member] | Depreciation [Member] | |||||
Right-of-use assets [Abstract] | |||||
Depreciation of right-of-use assets | 11.2 | ||||
Other [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 6.7 | ||||
Other [Member] | Revised [Member] | |||||
Right-of-use assets [Abstract] | |||||
Balance | 9 | ||||
Balance | $ 9 | ||||
Other [Member] | Depreciation [Member] | |||||
Right-of-use assets [Abstract] | |||||
Depreciation of right-of-use assets | $ 5.4 | ||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | ||||
[2] | $13.9 million and $17.4 million of depreciation on leased assets was included in depreciation of property, plant and equipment in the 12 months ended October 31, 2019 and the 18-months ended October 31, 2018 respectively. No depreciation in relation to leased assets is included in depreciation of property, plant and equipment in the period as all leased assets are classified as right-of-use assets following the adoption of IFRS 16. |
Leases, Amounts Recognized in C
Leases, Amounts Recognized in Comprehensive Income and Cash Flows (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||||
Amounts recognized in the statement of comprehensive income [Abstract] | ||||||
Interest on lease liabilities | $ 13.2 | |||||
Depreciation of right-of-use assets | [1] | 76.9 | $ 13.9 | $ 17.4 | ||
Lease expense | 65.9 | |||||
Income from sub-leasing right-of-use assets | 0.4 | 1 | ||||
Amounts recognized in statement of cash flows [Abstract] | ||||||
Payment for lease liabilities (2019: payment for finance lease liabilities) | (80.1) | (12.9) | [2] | $ 0 | [2] | |
Leases with annual cash outflows were not renewed or replaced | 8.9 | |||||
Under IFRS 16 [Member] | ||||||
Amounts recognized in the statement of comprehensive income [Abstract] | ||||||
Interest on lease liabilities | 13.2 | |||||
Depreciation of right-of-use assets | 76.9 | |||||
Impairment of right-of-use assets | [3] | 5.9 | ||||
Income from sub-leasing right-of-use assets | 0.4 | |||||
Amounts recognized in statement of cash flows [Abstract] | ||||||
Interest payments on lease liabilities | 13.2 | |||||
Payment for lease liabilities (2019: payment for finance lease liabilities) | 80.1 | |||||
Total cash outflow for leases | $ 93.3 | |||||
Under IAS 17 [Member] | ||||||
Amounts recognized in the statement of comprehensive income [Abstract] | ||||||
Interest on lease liabilities | 2 | |||||
Depreciation of right-of-use assets | 13.9 | |||||
Lease expense | 65.9 | |||||
Income from sub-leasing right-of-use assets | 1 | |||||
Amounts recognized in statement of cash flows [Abstract] | ||||||
Interest payments on lease liabilities | 2 | |||||
Payment for lease liabilities (2019: payment for finance lease liabilities) | 12.9 | |||||
Total cash outflow for leases | $ 14.9 | |||||
[1] | $13.9 million and $17.4 million of depreciation on leased assets was included in depreciation of property, plant and equipment in the 12 months ended October 31, 2019 and the 18-months ended October 31, 2018 respectively. No depreciation in relation to leased assets is included in depreciation of property, plant and equipment in the period as all leased assets are classified as right-of-use assets following the adoption of IFRS 16. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | |||||
[3] | The Group assessed right-of-use assets for indicators of impairment during the year in particular leases, which have become vacant or part vacant or changes in sub-lease expectations on existing vacant properties. As a result, an additional impairment of $5.9 million was recognized in the year. The impairment against the right-of-use asset carrying value reflects any expected sub lease-income over the remainder of the lease. |
Leases, Lease Obligations (Deta
Leases, Lease Obligations (Details) $ in Millions | 12 Months Ended | 18 Months Ended | ||||||
Oct. 31, 2020USD ($)Arrangement | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | [1] | Oct. 31, 2020USD ($) | Oct. 31, 2019USD ($) | |||
Movement on lease obligations [Abstract] | ||||||||
Balance | $ 293.3 | |||||||
Payments | 80.1 | $ 12.9 | [1] | $ 0 | ||||
Balance | 250.4 | 293.3 | ||||||
Included within [Abstract] | ||||||||
Current liabilities | $ 1,788.3 | $ 1,802 | [1] | |||||
Non-current liabilities | 6,143.4 | 6,216.5 | [1] | |||||
Total liabilities | 7,931.7 | 8,018.5 | [1] | |||||
Maturity profile of lease obligations [abstract] | ||||||||
Lease liabilities | 280.6 | |||||||
Impact of discounting | (30.2) | |||||||
Total lease obligations | $ 250.4 | 293.3 | 250.4 | 293.3 | ||||
Finance leases [Abstract] | ||||||||
Number of lease arrangements classified as finance leases | Arrangement | 6 | |||||||
Net investments in leases | 5.5 | 0 | ||||||
Operating leases [Abstract] | ||||||||
Number of lease arrangements classified as operating leases | Arrangement | 6 | |||||||
Rental income | $ 0.4 | 1 | ||||||
Within One Year [Member] | ||||||||
Maturity profile of lease obligations [abstract] | ||||||||
Lease liabilities | 82.2 | |||||||
Finance leases [Abstract] | ||||||||
Net investment in finance lease included in other receivables | 2.1 | |||||||
In One to Two Years [Member] | ||||||||
Maturity profile of lease obligations [abstract] | ||||||||
Lease liabilities | 69.5 | |||||||
In Two to Three Years [Member] | ||||||||
Maturity profile of lease obligations [abstract] | ||||||||
Lease liabilities | 43.3 | |||||||
In Three to Five Years [Member] | ||||||||
Maturity profile of lease obligations [abstract] | ||||||||
Lease liabilities | 49.3 | |||||||
In More Than Five Years [Member] | ||||||||
Maturity profile of lease obligations [abstract] | ||||||||
Lease liabilities | 36.3 | |||||||
Lease Obligations [Member] | ||||||||
Movement on lease obligations [Abstract] | ||||||||
Additions | 41.6 | |||||||
Disposals | (0.2) | |||||||
Payments | (93.3) | |||||||
Interest | 13.2 | |||||||
Foreign exchange | (4.2) | |||||||
Included within [Abstract] | ||||||||
Current liabilities | 82.2 | |||||||
Non-current liabilities | 168.2 | |||||||
Total liabilities | $ 250.4 | |||||||
IFRS 16 [Member] | ||||||||
Movement on lease obligations [Abstract] | ||||||||
Payments | (80.1) | |||||||
Operating leases [Abstract] | ||||||||
Rental income | 0.4 | |||||||
IFRS 16 [Member] | Lease Obligations [Member] | ||||||||
Movement on lease obligations [Abstract] | ||||||||
Balance | 269.8 | |||||||
Balance | 269.8 | |||||||
Maturity profile of lease obligations [abstract] | ||||||||
Total lease obligations | 269.8 | 269.8 | 269.8 | |||||
IFRS 16 [Member] | Transfer from Finance Lease Liability [Member] | Lease Obligations [Member] | ||||||||
Movement on lease obligations [Abstract] | ||||||||
Balance | 23.5 | |||||||
Balance | 23.5 | |||||||
Maturity profile of lease obligations [abstract] | ||||||||
Total lease obligations | $ 23.5 | $ 23.5 | $ 23.5 | |||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Contract liabilities (Details)
Contract liabilities (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Contract liabilities [Abstract] | ||||
Current | $ 981.4 | $ 1,045.9 | [1] | $ 1,134.7 |
Non-current | 117.2 | 149.9 | [1] | |
Total contract liabilities | 1,098.6 | 1,195.8 | ||
Remaining Performance Obligations [Abstract] | ||||
Remaining revenue allocated to future performance obligations | $ 1,598.1 | $ 1,468.9 | ||
Percentage of revenue expected to be recognized over next 12 months | 77.00% | 80.00% | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Provisions (Details)
Provisions (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Provisions [Abstract] | ||||
Current provisions | $ 49.7 | $ 29.3 | [1] | |
Non-current provisions | 22.5 | 49.1 | [1] | |
Provisions | 72.2 | 78.4 | $ 92.8 | |
Onerous Leases and Dilapidations [Member] | ||||
Provisions [Abstract] | ||||
Current provisions | 5 | 9.5 | ||
Non-current provisions | 11.9 | 24.7 | ||
Provisions | 16.9 | 34.2 | 35.1 | |
Restructuring [Member] | ||||
Provisions [Abstract] | ||||
Current provisions | 20.2 | 12 | ||
Non-current provisions | 10.6 | 24.4 | ||
Provisions | 30.8 | 36.4 | 50.7 | |
Legal [Member] | ||||
Provisions [Abstract] | ||||
Current provisions | 9.7 | 5.7 | ||
Non-current provisions | 0 | 0 | ||
Provisions | 9.7 | 5.7 | 7 | |
Other [Member] | ||||
Provisions [Abstract] | ||||
Current provisions | 14.8 | 2.1 | ||
Non-current provisions | 0 | 0 | ||
Provisions | $ 14.8 | $ 2.1 | $ 0 | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Provisions, Continuing operatio
Provisions, Continuing operations and Discontinued operation (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |||
Provisions [Abstract] | ||||||
Provisions, beginning balances | $ 78.4 | $ 92.8 | ||||
Right-of-use assets | $ 207.2 | $ 0 | [1] | |||
Continuing operations [Abstract] | ||||||
Acquisitions | 0.4 | 0.7 | ||||
Additional provision in the period | 56 | 76.1 | ||||
Released | (9.7) | (33.4) | ||||
Utilization of provision | (37.5) | (58.6) | ||||
Unwinding of discount | 1.1 | |||||
Effects of movements in exchange rates | 1.3 | (0.3) | ||||
Provisions, ending balances | 72.2 | 78.4 | ||||
Current provisions | 49.7 | 29.3 | [1] | |||
Non-current provisions | 22.5 | 49.1 | [1] | |||
Provisions | 72.2 | 92.8 | 72.2 | 78.4 | ||
Revised [Member] | ||||||
Provisions [Abstract] | ||||||
Right-of-use assets | 253.4 | |||||
Impact of Adoption of IFRSs [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 61.7 | |||||
Continuing operations [Abstract] | ||||||
Provisions, ending balances | 61.7 | |||||
Provisions | 61.7 | 61.7 | 61.7 | |||
Impact of Adoption of IFRSs [Member] | IFRS 16 Leases [Member] | ||||||
Provisions [Abstract] | ||||||
Right-of-use assets | [2] | (16.7) | ||||
Onerous Contracts and Dilapidations [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 34.2 | 35.1 | ||||
Continuing operations [Abstract] | ||||||
Acquisitions | 0 | 0 | ||||
Additional provision in the period | 3.2 | 19.2 | ||||
Released | (3.1) | (7.4) | ||||
Utilization of provision | (1) | (13.9) | ||||
Unwinding of discount | 1.1 | |||||
Effects of movements in exchange rates | 0.3 | 0.1 | ||||
Provisions, ending balances | 16.9 | 34.2 | ||||
Current provisions | 5 | 9.5 | ||||
Non-current provisions | 11.9 | 24.7 | ||||
Provisions | $ 34.2 | 35.1 | 16.9 | 34.2 | ||
Onerous contracts and dilapidations provisions [Abstract] | ||||||
Term of onerous contracts and dilapidations provision relates is expected to be fully utilized | 8 years | |||||
Onerous Contracts and Dilapidations [Member] | Impact of Adoption of IFRSs [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | $ 17.5 | |||||
Continuing operations [Abstract] | ||||||
Provisions, ending balances | 17.5 | |||||
Provisions | 17.5 | 17.5 | 17.5 | |||
Onerous Contracts and Dilapidations [Member] | Impact of Adoption of IFRSs [Member] | IFRS 16 Leases [Member] | ||||||
Provisions [Abstract] | ||||||
Right-of-use assets | [2] | (16.7) | ||||
Restructuring [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 36.4 | 50.7 | ||||
Continuing operations [Abstract] | ||||||
Acquisitions | 0.4 | 0 | ||||
Additional provision in the period | 34.7 | 49.4 | ||||
Released | (5.9) | (19.8) | ||||
Utilization of provision | (35.7) | (43.5) | ||||
Unwinding of discount | 0 | |||||
Effects of movements in exchange rates | 0.9 | (0.4) | ||||
Provisions, ending balances | 30.8 | 36.4 | ||||
Current provisions | 20.2 | 12 | ||||
Non-current provisions | 10.6 | 24.4 | ||||
Provisions | 36.4 | 50.7 | 30.8 | 36.4 | ||
Restructuring [Member] | Impact of Adoption of IFRSs [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 36.4 | |||||
Continuing operations [Abstract] | ||||||
Provisions, ending balances | 36.4 | |||||
Provisions | 36.4 | 36.4 | 36.4 | |||
Restructuring [Member] | Impact of Adoption of IFRSs [Member] | IFRS 16 Leases [Member] | ||||||
Provisions [Abstract] | ||||||
Right-of-use assets | [2] | 0 | ||||
Legal [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 5.7 | 7 | ||||
Continuing operations [Abstract] | ||||||
Acquisitions | 0 | 0 | ||||
Additional provision in the period | 5.4 | 5.4 | ||||
Released | (0.7) | (6.2) | ||||
Utilization of provision | (0.8) | (0.5) | ||||
Unwinding of discount | 0 | |||||
Effects of movements in exchange rates | 0.1 | 0 | ||||
Provisions, ending balances | 9.7 | 5.7 | ||||
Current provisions | 9.7 | 5.7 | ||||
Non-current provisions | 0 | 0 | ||||
Provisions | 5.7 | 7 | 9.7 | 5.7 | ||
Legal [Member] | Impact of Adoption of IFRSs [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 5.7 | |||||
Continuing operations [Abstract] | ||||||
Provisions, ending balances | 5.7 | |||||
Provisions | 5.7 | 5.7 | 5.7 | |||
Legal [Member] | Impact of Adoption of IFRSs [Member] | IFRS 16 Leases [Member] | ||||||
Provisions [Abstract] | ||||||
Right-of-use assets | [2] | 0 | ||||
Other [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 2.1 | 0 | ||||
Continuing operations [Abstract] | ||||||
Acquisitions | 0 | 0.7 | ||||
Additional provision in the period | 12.7 | 2.1 | ||||
Released | 0 | 0 | ||||
Utilization of provision | 0 | (0.7) | ||||
Unwinding of discount | 0 | |||||
Effects of movements in exchange rates | 0 | 0 | ||||
Provisions, ending balances | 14.8 | 2.1 | ||||
Current provisions | 14.8 | 2.1 | ||||
Non-current provisions | 0 | 0 | ||||
Provisions | 14.8 | 0 | $ 14.8 | 2.1 | ||
Other provisions [Abstract] | ||||||
Interest on uncertain tax provisions | 7.6 | 2.1 | ||||
Sales tax provision | 2.8 | 0 | ||||
Provisions for estimated property exposure pertaining to accounts payable | 4.4 | 0 | ||||
Other [Member] | Impact of Adoption of IFRSs [Member] | ||||||
Provisions [Abstract] | ||||||
Provisions, beginning balances | 2.1 | |||||
Continuing operations [Abstract] | ||||||
Provisions, ending balances | 2.1 | |||||
Provisions | $ 2.1 | $ 2.1 | 2.1 | |||
Other [Member] | Impact of Adoption of IFRSs [Member] | IFRS 16 Leases [Member] | ||||||
Provisions [Abstract] | ||||||
Right-of-use assets | [2] | $ 0 | ||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | |||||
[2] | As described in I Significant Accounting Policies W "Adoption of new and revised International Financial Reporting Standards" onerous lease provisions recognized at October 31, 2019 have been recorded as an impairment against the right-of-use assets recognized on adoption of IFRS 16. |
Pension commitments, Defined Co
Pension commitments, Defined Contribution (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Continuing operations [Abstract] | |||
Defined contribution schemes | $ 31.2 | $ 32.7 | $ 43.3 |
Pension commitments, Defined Be
Pension commitments, Defined Benefit (Details) $ in Millions | 12 Months Ended | ||
Oct. 31, 2020USD ($)CountryPlanSponsorPlan | Oct. 31, 2019USD ($)Plan | ||
Within non-current assets [Abstract] | |||
Long-term pension assets | $ | $ 18.2 | $ 17.1 | [1] |
Within non-current liabilities [Abstract] | |||
Retirement benefit obligations | $ | $ (155) | $ (141.4) | [1] |
Number of defined benefit plans | Plan | 33 | 30 | |
Number of countries under defined benefit plans | Country | 10 | ||
Number of sponsor plans open to new members | 12 | ||
Number of sponsor plans reclassified to the net retirement obligation | 3 | ||
Germany [Member] | |||
Within non-current liabilities [Abstract] | |||
Number of plans sponsored | Plan | 12 | ||
Percentage of net retirement benefit obligation | 83.00% | ||
Number of sponsor plans in re-insurance contracts with guaranteed interest rates | 3 | ||
Number of sponsor plans open to new members | 3 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Pension commitments, Long-term
Pension commitments, Long-term Pension Assets (Details) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Pension commitments [Abstract] | ||
Beginning of period | $ 17.1 | $ 16.7 |
Reclassification to assets held for sale | 0 | 0.1 |
Transfer to plan assets | (0.4) | 0 |
Interest on non-plan assets | 0.2 | 0.3 |
Benefits paid | (0.1) | (0.1) |
Contributions | 0.3 | 0.3 |
Included within other comprehensive income [Abstract] | ||
Change in fair value assessment | 0.4 | 0.4 |
Long-term pension asset, included in other comprehensive income | 0.4 | 0.4 |
Effects of movements in exchange rates | 0.7 | (0.6) |
End of period | 18.2 | 17.1 |
Included within other comprehensive income [Abstract] | ||
Continuing operations | 0.4 | 0.3 |
Discontinued operation | 0 | 0.1 |
Long-term pension asset, included in other comprehensive income | $ 0.4 | $ 0.4 |
Pension commitments, Retirement
Pension commitments, Retirement Benefit Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | 42 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | |
Defined benefit pension arrangements [Abstract] | |||
Current service charge | $ 10.4 | $ 9 | $ 12.6 |
Past service credit | 0 | 0 | (5.5) |
Charge to operating (loss)/profit | 10.4 | 9 | 7.1 |
Current service charge - discontinued operations | 0 | 0.1 | 0.3 |
Interest on pension scheme liabilities | 3.1 | 4.2 | 5.2 |
Interest on pension scheme assets | (1.3) | (1.8) | (2.4) |
Charge to finance costs | 1.8 | 2.4 | 2.8 |
Total continuing charge to (loss)/profit for the period | 12.2 | 11.5 | 10.2 |
Movements in equity [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | 1.8 | 5.9 | 0.6 |
Re-measurements - actuarial gains/(losses) [Abstract] | |||
Demographic | 0 | (1.6) | 0.3 |
Financial | (0.6) | (38.8) | (11.1) |
Experience | 3 | 8.4 | 1.9 |
Re-measurements actuarial gains/(losses) | 2.4 | (32) | (8.9) |
Reclassification from defined contribution scheme or other assets and liabilities to defined benefit scheme | (4.6) | 0 | (2.1) |
Movement in the period | (0.4) | (26.1) | (10.4) |
Continuing operations | (0.4) | (26.2) | (8.9) |
Discontinued operation | 0 | 0.1 | (1.5) |
Movements in equity | $ (0.4) | $ (26.1) | $ (10.4) |
Pension commitments, Weighted A
Pension commitments, Weighted Average Key Assumptions and Average Life Expectancy (Details) $ in Millions | Oct. 31, 2020Employee | Oct. 31, 2019USD ($)Employee |
Weighted average key assumptions [Abstract] | ||
Rate of increase in final pensionable salary | 2.64% | 2.65% |
Rate of increase in pension payments | 1.50% | 1.75% |
Discount rate | 0.90% | 1.20% |
Inflation | 1.47% | 1.69% |
Germany [Member] | ||
Weighted average key assumptions [Abstract] | ||
Rate of increase in final pensionable salary | 2.50% | 2.50% |
Rate of increase in pension payments | 1.50% | 1.75% |
Discount rate | 0.79% | 1.09% |
Inflation | 1.50% | 1.75% |
Rest of World [Member] | ||
Weighted average key assumptions [Abstract] | ||
Rate of increase in final pensionable salary | 3.09% | 3.09% |
Rate of increase in pension payments | 1.50% | 1.50% |
Discount rate | 1.41% | 1.71% |
Inflation | 1.25% | 1.16% |
Discount Rate [Member] | ||
Weighted average key assumptions [Abstract] | ||
Defined benefit obligation | $ | $ 14 | |
Discount Rate [Member] | Germany [Member] | ||
Weighted average key assumptions [Abstract] | ||
Discount rate | 10.50% | |
Discount Rate [Member] | Rest of World [Member] | ||
Weighted average key assumptions [Abstract] | ||
Discount rate | 6.50% | |
Average Life Expectancy [Member] | ||
Retiring at age 65 at the end of the reporting year [Abstract] | ||
Male | 20 | 20 |
Female | 24 | 23 |
Retiring 15 years after the end of the reporting year [Abstract] | ||
Male | 22 | 22 |
Female | 25 | 25 |
Average Life Expectancy [Member] | Germany [Member] | ||
Retiring at age 65 at the end of the reporting year [Abstract] | ||
Male | 20 | 20 |
Female | 24 | 23 |
Retiring 15 years after the end of the reporting year [Abstract] | ||
Male | 22 | 22 |
Female | 26 | 25 |
Average Life Expectancy [Member] | Rest of World [Member] | ||
Retiring at age 65 at the end of the reporting year [Abstract] | ||
Male | 22 | 20 |
Female | 25 | 23 |
Retiring 15 years after the end of the reporting year [Abstract] | ||
Male | 23 | 23 |
Female | 26 | 26 |
Pension commitments, Net Liabil
Pension commitments, Net Liability (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 |
Net liability [Abstract] | ||
Present value of defined benefit obligations | $ 303.3 | $ 261.5 |
Fair values of plan assets | (148.3) | (120.1) |
Net liability | 155 | 141.4 |
Germany [Member] | ||
Net liability [Abstract] | ||
Present value of defined benefit obligations | 248.4 | 213.5 |
Fair values of plan assets | (119.1) | (92) |
Net liability | 129.3 | 121.5 |
Rest of World [Member] | ||
Net liability [Abstract] | ||
Present value of defined benefit obligations | 54.9 | 48 |
Fair values of plan assets | (29.2) | (28.1) |
Net liability | $ 25.7 | $ 19.9 |
Pension commitments, Defined _2
Pension commitments, Defined Benefit Obligation (Details) - USD ($) $ in Millions | 12 Months Ended | 42 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | |
Defined Benefit Obligations [Abstract] | |||
Transfer from long-term pension assets | $ (0.4) | $ 0 | |
Current service cost | 10.4 | 9 | $ 12.6 |
Contributions by plan participants | 0.3 | 0.3 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Experience | (2.4) | 32 | 8.9 |
Reclassification to defined benefit scheme | (4.6) | 0 | (2.1) |
Effects of movements in exchange rates | 0.7 | (0.6) | |
Scheme Assets [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | (120.1) | (110.8) | |
Reclassification from other liabilities/assets | (17.8) | ||
Transfer from long-term pension assets | (0.4) | ||
Reclassification to assets held for sale | (0.2) | ||
Benefits paid | 3.5 | 4.4 | |
Contributions by plan participants | (1.7) | (1.8) | |
Contribution by employer | (3) | (4.5) | |
Interest cost/(income) | (1.3) | (1.8) | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | (1.8) | (5.9) | |
Reclassification to defined benefit scheme | 0 | ||
Total increase (decrease) in net defined benefit liability (asset) | (1.8) | (5.9) | |
Effects of movements in exchange rates | (5.7) | 0.5 | |
End of period | (148.3) | (120.1) | (148.3) |
Scheme Assets [Member] | Germany [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | (92) | (82.1) | |
Reclassification from other liabilities/assets | (17.8) | ||
Transfer from long-term pension assets | (0.4) | ||
Reclassification to assets held for sale | 0 | ||
Benefits paid | 0.6 | 0.3 | |
Contributions by plan participants | (1.1) | (1.5) | |
Contribution by employer | (0.7) | (0.3) | |
Interest cost/(income) | (1) | (1.5) | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | (2.4) | (8) | |
Reclassification to defined benefit scheme | 0 | ||
Total increase (decrease) in net defined benefit liability (asset) | (2.4) | (8) | |
Effects of movements in exchange rates | (4.3) | 1.1 | |
End of period | (119.1) | (92) | (119.1) |
Scheme Assets [Member] | Rest of World [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | (28.1) | (28.7) | |
Reclassification from other liabilities/assets | 0 | ||
Transfer from long-term pension assets | 0 | ||
Reclassification to assets held for sale | (0.2) | ||
Benefits paid | 2.9 | 4.1 | |
Contributions by plan participants | (0.6) | (0.3) | |
Contribution by employer | (2.3) | (4.2) | |
Interest cost/(income) | (0.3) | (0.3) | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Actuarial return on assets excluding amounts included in interest income | 0.6 | 2.1 | |
Reclassification to defined benefit scheme | 0 | ||
Total increase (decrease) in net defined benefit liability (asset) | 0.6 | 2.1 | |
Effects of movements in exchange rates | (1.4) | (0.6) | |
End of period | (29.2) | (28.1) | (29.2) |
Defined Benefit Obligations [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 261.5 | 221.2 | |
Reclassification from other liabilities/assets | 16.2 | ||
Transfer from long-term pension assets | 0 | ||
Reclassification to assets held for sale | 0.5 | ||
Current service cost | 10.4 | 9.1 | |
Benefits paid | (3.5) | (4.6) | |
Contributions by plan participants | 1.7 | 1.8 | |
Contribution by employer | 0 | 0 | |
Interest cost/(income) | 3.1 | 4.2 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | 1.6 | |
Financial | 0.6 | 38.8 | |
Experience | (3) | (8.4) | |
Actuarial return on assets excluding amounts included in interest income | 0 | 0 | |
Reclassification to defined benefit scheme | 4.6 | ||
Total increase (decrease) in net defined benefit liability (asset) | 2.2 | 32 | |
Effects of movements in exchange rates | 11.7 | (2.7) | |
End of period | 303.3 | 261.5 | 303.3 |
Defined Benefit Obligations [Member] | Germany [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 213.5 | 173.8 | |
Reclassification from other liabilities/assets | 14.7 | ||
Transfer from long-term pension assets | 0 | ||
Reclassification to assets held for sale | 0.3 | ||
Current service cost | 6.9 | 6 | |
Benefits paid | (0.6) | (0.4) | |
Contributions by plan participants | 1.1 | 1.5 | |
Contribution by employer | 0 | 0 | |
Interest cost/(income) | 2.3 | 3.1 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | 1.6 | |
Financial | (0.4) | 34 | |
Experience | (2) | (3.2) | |
Actuarial return on assets excluding amounts included in interest income | 0 | 0 | |
Reclassification to defined benefit scheme | 3.1 | ||
Total increase (decrease) in net defined benefit liability (asset) | 0.7 | 32.4 | |
Effects of movements in exchange rates | 9.8 | (3.2) | |
End of period | 248.4 | 213.5 | 248.4 |
Defined Benefit Obligations [Member] | Rest of World [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 48 | 47.4 | |
Reclassification from other liabilities/assets | 1.5 | ||
Transfer from long-term pension assets | 0 | ||
Reclassification to assets held for sale | 0.2 | ||
Current service cost | 3.5 | 3.1 | |
Benefits paid | (2.9) | (4.2) | |
Contributions by plan participants | 0.6 | 0.3 | |
Contribution by employer | 0 | 0 | |
Interest cost/(income) | 0.8 | 1.1 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | 0 | |
Financial | 1 | 4.8 | |
Experience | (1) | (5.2) | |
Actuarial return on assets excluding amounts included in interest income | 0 | 0 | |
Reclassification to defined benefit scheme | 1.5 | ||
Total increase (decrease) in net defined benefit liability (asset) | 1.5 | (0.4) | |
Effects of movements in exchange rates | 1.9 | 0.5 | |
End of period | 54.9 | 48 | 54.9 |
Retirement Benefit Obligations [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 141.4 | 110.4 | |
Reclassification from other liabilities/assets | (1.6) | ||
Transfer from long-term pension assets | (0.4) | ||
Reclassification to assets held for sale | 0.3 | ||
Current service cost | 10.4 | 9.1 | |
Benefits paid | 0 | (0.2) | |
Contributions by plan participants | 0 | 0 | |
Contribution by employer | (3) | (4.5) | |
Interest cost/(income) | 1.8 | 2.4 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | 1.6 | |
Financial | 0.6 | 38.8 | |
Experience | (3) | (8.4) | |
Actuarial return on assets excluding amounts included in interest income | (1.8) | (5.9) | |
Reclassification to defined benefit scheme | 4.6 | ||
Total increase (decrease) in net defined benefit liability (asset) | 0.4 | 26.1 | |
Effects of movements in exchange rates | 6 | (2.2) | |
End of period | 155 | 141.4 | 155 |
Retirement Benefit Obligations [Member] | Germany [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 121.5 | 91.7 | |
Reclassification from other liabilities/assets | (3.1) | ||
Transfer from long-term pension assets | (0.4) | ||
Reclassification to assets held for sale | 0.3 | ||
Current service cost | 6.9 | 6 | |
Benefits paid | 0 | (0.1) | |
Contributions by plan participants | 0 | 0 | |
Contribution by employer | (0.7) | (0.3) | |
Interest cost/(income) | 1.3 | 1.6 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | 1.6 | |
Financial | (0.4) | 34 | |
Experience | (2) | (3.2) | |
Actuarial return on assets excluding amounts included in interest income | (2.4) | (8) | |
Reclassification to defined benefit scheme | 3.1 | ||
Total increase (decrease) in net defined benefit liability (asset) | (1.7) | 24.4 | |
Effects of movements in exchange rates | 5.5 | (2.1) | |
End of period | 129.3 | 121.5 | 129.3 |
Retirement Benefit Obligations [Member] | Rest of World [Member] | |||
Defined Benefit Obligations [Abstract] | |||
Beginning of period | 19.9 | 18.7 | |
Reclassification from other liabilities/assets | 1.5 | ||
Transfer from long-term pension assets | 0 | ||
Reclassification to assets held for sale | 0 | ||
Current service cost | 3.5 | 3.1 | |
Benefits paid | 0 | (0.1) | |
Contributions by plan participants | 0 | 0 | |
Contribution by employer | (2.3) | (4.2) | |
Interest cost/(income) | 0.5 | 0.8 | |
Re-measurements - actuarial (gains) and losses [Abstract] | |||
Demographic | 0 | 0 | |
Financial | 1 | 4.8 | |
Experience | (1) | (5.2) | |
Actuarial return on assets excluding amounts included in interest income | 0.6 | 2.1 | |
Reclassification to defined benefit scheme | 1.5 | ||
Total increase (decrease) in net defined benefit liability (asset) | 2.1 | 1.7 | |
Effects of movements in exchange rates | 0.5 | (0.1) | |
End of period | $ 25.7 | $ 19.9 | $ 25.7 |
Pension commitments, Major Cate
Pension commitments, Major Categories of Plan Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | ||
Major categories of plan assets [Abstract] | |||
Equity instruments | $ 55.7 | $ 45.3 | |
Debt instruments | 70.8 | 55.6 | |
Real estate | 2.9 | 3.1 | |
Cash and cash equivalents | 2.6 | 1.7 | |
Re-insurance contracts with guaranteed interest rates | [1] | 6.5 | 5.6 |
Other | 9.8 | 8.8 | |
Total | $ 148.3 | 120.1 | |
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 | $ 49.3 | 39.8 | |
Debt instruments | 63.3 | 46.6 | |
Real estate | 0 | 0 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 6.5 | 5.6 |
Other | 0 | 0 | |
Total | 119.1 | 92 | |
Rest of World [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 6.4 | 5.5 | |
Debt instruments | 7.5 | 9 | |
Real estate | 2.9 | 3.1 | |
Cash and cash equivalents | 2.6 | 1.7 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 9.8 | 8.8 | |
Total | 29.2 | 28.1 | |
Quoted [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 49.3 | 39.8 | |
Debt instruments | 65.9 | 49.6 | |
Real estate | 0 | 0 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 0 | 0 | |
Total | 115.2 | 89.4 | |
Quoted [Member] | Germany [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 49.3 | 39.8 | |
Debt instruments | 63.3 | 46.6 | |
Real estate | 0 | 0 | |
Cash and cash equivalents | 0 | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 0 | 0 | |
Total | 112.6 | 86.4 | |
Quoted [Member] | Rest of World [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 0 | 0 | |
Debt instruments | 2.6 | 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 | 2.6 | 3 | |
Unquoted [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 6.4 | 5.5 | |
Debt instruments | 4.9 | 6 | |
Real estate | 2.9 | 3.1 | |
Cash and cash equivalents | 2.6 | 1.7 | |
Re-insurance contracts with guaranteed interest rates | [1] | 6.5 | 5.6 |
Other | 9.8 | 8.8 | |
Total | 33.1 | 30.7 | |
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] | 6.5 | 5.6 |
Other | 0 | 0 | |
Total | 6.5 | 5.6 | |
Unquoted [Member] | Rest of World [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | 6.4 | 5.5 | |
Debt instruments | 4.9 | 6 | |
Real estate | 2.9 | 3.1 | |
Cash and cash equivalents | 2.6 | 1.7 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | 0 |
Other | 9.8 | 8.8 | |
Total | $ 26.6 | $ 25.1 | |
[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, 2020 | Oct. 31, 2019 | ||
Sensitivities [Abstract] | |||
Weighted average duration of defined benefit obligation | 14 years | ||
Change in defined benefit obligation | (0.90%) | (1.20%) | |
Price inflation | 1.47% | 1.69% | |
Salary growth rate | 2.64% | 2.65% | |
Germany [Member] | |||
Sensitivities [Abstract] | |||
Weighted average duration of defined benefit obligation | 23 years | ||
Change in defined benefit obligation | (0.79%) | (1.09%) | |
Price inflation | 1.50% | 1.75% | |
Salary growth rate | 2.50% | 2.50% | |
Rest of World [Member] | |||
Sensitivities [Abstract] | |||
Change in defined benefit obligation | (1.41%) | (1.71%) | |
Price inflation | 1.25% | 1.16% | |
Salary growth rate | 3.09% | 3.09% | |
Discount Rate for Scheme Liabilities [Member] | Germany [Member] | |||
Sensitivities [Abstract] | |||
Increase in assumption | 0.50% | ||
Change in defined benefit obligation | (10.50%) | ||
Decrease in assumption | 0.50% | ||
Change in defined benefit obligation | 12.10% | ||
Discount Rate for Scheme Liabilities [Member] | Rest of World [Member] | |||
Sensitivities [Abstract] | |||
Increase in assumption | 0.50% | ||
Change in defined benefit obligation | (6.50%) | ||
Decrease in assumption | 0.50% | ||
Change in defined benefit obligation | 7.30% | ||
Price Inflation [Member] | Germany [Member] | |||
Sensitivities [Abstract] | |||
Increase in assumption | [1] | 0.25% | |
Decrease in assumption | [1] | 0.25% | |
Price inflation | [1] | 3.40% | |
Price inflation | [1] | (3.20%) | |
Price Inflation [Member] | Rest of World [Member] | |||
Sensitivities [Abstract] | |||
Increase in assumption | 0.25% | ||
Decrease in assumption | 0.25% | ||
Price inflation | 0.90% | ||
Price inflation | (0.90%) | ||
Salary Growth Rate [Member] | Germany [Member] | |||
Sensitivities [Abstract] | |||
Increase in assumption | 0.50% | ||
Decrease in assumption | 0.50% | ||
Salary growth rate | 1.10% | ||
Salary growth rate | (1.10%) | ||
Salary Growth Rate [Member] | Rest of World [Member] | |||
Sensitivities [Abstract] | |||
Increase in assumption | 0.50% | ||
Decrease in assumption | 0.50% | ||
Salary growth rate | 2.70% | ||
Salary growth rate | (2.80%) | ||
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 | 3.90% | ||
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 | 2.00% | ||
[1] | For the German schemes the same values are used for both the inflation assumption and the rate of increase in pension payments. |
Other non-current liabilities_2
Other non-current liabilities (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | |
Other non-current liabilities [Abstract] | |||
Accruals | $ 39.9 | $ 50.4 | |
Total other non-current liabilities | 39.9 | 50.4 | [1] |
Accrued employee benefit liability | 30.6 | 33.3 | |
Contractual IT liability | $ 5.9 | $ 6.6 | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Financial risk management and_3
Financial risk management and financial instruments, Liquidity and Capital Risk (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended | 18 Months Ended | ||||||||
May 31, 2020 | Mar. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | Sep. 30, 2020 | Sep. 29, 2020 | Sep. 03, 2020 | Sep. 02, 2020 | |||
Liquidity and Capital Risk [Abstract] | ||||||||||||
Withdrew recommendation for payment of final dividend (in dollars per share) | $ 0.5833 | |||||||||||
Dividend paid | $ 0 | $ 0 | $ 439.2 | $ 542.2 | ||||||||
Borrowings | 4,640.3 | 4,670.7 | ||||||||||
Debt repayment | $ 1,589.7 | 212.6 | [1] | 252.9 | [1] | |||||||
Financial covenant threshold | 4.35 | |||||||||||
Bottom of Range [Member] | ||||||||||||
Liquidity and Capital Risk [Abstract] | ||||||||||||
Aggregate net leverage covenant percentage | 35.00% | |||||||||||
Term Loans [Member] | ||||||||||||
Liquidity and Capital Risk [Abstract] | ||||||||||||
Borrowings | $ 1,415 | $ 4,733.2 | ||||||||||
Maturity date | Nov. 30, 2021 | |||||||||||
Debt repayment | $ 143 | |||||||||||
Revolving Credit Facility [Member] | ||||||||||||
Liquidity and Capital Risk [Abstract] | ||||||||||||
Borrowings | $ 0 | 0 | $ 0 | |||||||||
Maturity date | Jun. 30, 2024 | |||||||||||
Debt repayment | $ 175 | 0 | ||||||||||
Credit facility, maximum borrowing capacity | $ 0 | $ 0 | $ 350 | $ 500 | $ 350 | $ 500 | ||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Financial risk management and_4
Financial risk management and financial instruments, Interest rate risk and Foreign exchange risk (Details) € in Millions, $ in Millions | 12 Months Ended | ||
Oct. 31, 2020USD ($)SwapHedge | Oct. 31, 2020EUR (€)Hedge | Oct. 31, 2019EUR (€) | |
Foreign Exchange Risk [Abstract] | |||
Number of investment hedges | Hedge | 2 | 2 | |
Net investment hedges | € | € 1,050 | ||
Hedges of Net Investment in Foreign Operations [Member] | |||
Foreign Exchange Risk [Abstract] | |||
Number of investment hedges | Hedge | 2 | 2 | |
Net investment hedges | € | € 1,050 | € 0 | |
Interest Rate Swap [Member] | |||
Interest Rate Risk [Abstract] | |||
Number of interest rate swaps | Swap | 4 | ||
Notional amount | $ | $ 2,250 | ||
Maturity date | Sep. 30, 2022 |
Financial risk management and_5
Financial risk management and financial instruments, Carrying Values of Financial Assets with Fair Value Inputs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | ||
Non-current [Abstract] | |||
Total non-current assets | $ 9,605 | $ 12,846.7 | [1] |
Current [Abstract] | |||
Total current assets | 1,541.8 | 1,448.1 | [1] |
Total assets | 11,146.8 | 14,294.8 | [1] |
FV OCI [Member] | Long-term Pension Assets [Member] | |||
Non-current [Abstract] | |||
Total non-current assets | $ 18.2 | ||
Fair value | Fair value insurance based input | ||
FV OCI [Member] | Long-term Pension Assets [Member] | Level 3 [Member] | |||
Non-current [Abstract] | |||
Total non-current assets | 17.1 | ||
Amortized Cost [Member] | Cash and Cash Equivalents [Member] | |||
Current [Abstract] | |||
Total current assets | $ 737.2 | 355.7 | |
Amortized Cost [Member] | Trade and Other Receivables [Member] | |||
Current [Abstract] | |||
Total current assets | 648.6 | 922.7 | |
Amortized Cost [Member] | Contract Assets [Member] | |||
Current [Abstract] | |||
Total current assets | 33.7 | 56.3 | |
Financial Assets at Fair Value [Member] | |||
Current [Abstract] | |||
Total assets | $ 1,437.7 | $ 1,351.8 | |
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Financial risk management and_6
Financial risk management and financial instruments, Carrying Values of Financial Liabilities with Fair Value Inputs (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Non-current [Abstract] | |||||
Total non-current liabilities | $ 6,143.4 | $ 6,216.5 | [1] | ||
Fair value of financial liability | 4,535.1 | 4,686 | |||
Current [Abstract] | |||||
Total current liabilities | 1,788.3 | 1,802 | [1] | ||
Total liabilities | 7,931.7 | 8,018.5 | [1] | ||
Borrowings | 4,640.3 | 4,670.7 | |||
Bank Loan Secured [Member] | |||||
Non-current [Abstract] | |||||
Fair value of financial liability | 4,535.1 | 4,686 | |||
Current [Abstract] | |||||
Borrowings | 4,733.2 | 4,775 | $ 4,996.9 | ||
FV OCI [Member] | Derivative Financial Instruments - Interest Rate Swaps [Member] | |||||
Non-current [Abstract] | |||||
Total non-current liabilities | [2] | $ 77.9 | |||
Fair value | [2] | Fair value Bank Institutions | |||
FV OCI [Member] | Derivative Financial Instruments - Interest Rate Swaps [Member] | Level 2 [Member] | |||||
Non-current [Abstract] | |||||
Total non-current liabilities | [2] | 36.5 | |||
Amortized Cost [Member] | Borrowings (Gross) [Member] | |||||
Non-current [Abstract] | |||||
Total non-current liabilities | [3] | $ 4,699 | 4,775 | ||
Fair value of financial liability | [3] | 4,535.1 | |||
Current [Abstract] | |||||
Total current liabilities | [3] | 34.2 | 0 | ||
Amortized Cost [Member] | Lease Obligations [Member] | |||||
Non-current [Abstract] | |||||
Total non-current liabilities | 82.2 | 11.7 | |||
Current [Abstract] | |||||
Total current liabilities | 168.2 | 11.8 | |||
Amortized Cost [Member] | Provisions [Member] | |||||
Non-current [Abstract] | |||||
Total non-current liabilities | 22.5 | 49.1 | |||
Current [Abstract] | |||||
Total current liabilities | 49.7 | 29.3 | |||
Amortized Cost [Member] | Trade and Other Payables [Member] | |||||
Current [Abstract] | |||||
Total current liabilities | 419.2 | 530.3 | |||
Financial Liabilities at Fair Value [Member] | |||||
Current [Abstract] | |||||
Total liabilities | $ 5,552.9 | $ 5,443.7 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | ||||
[2] | Derivative interest rate swaps are measured at FV OCI as a result of hedge accounting. All interest rate swaps are in designated hedge relationships and there are no other derivative financial instruments held as FVTPL. | ||||
[3] | Borrowings have a carrying value (net of unamortized prepaid facility arrangement fees and original issue discount) of $4,640.4 million (2019: $4,670.7 million). Total borrowings (gross) are shown in this table as $4,733.2 million (2019: $4,775.0 million) for the fair value comparison. |
Financial risk management and_7
Financial risk management and financial instruments, Fair Value Measurement and Derivative Financial Instruments (Details) $ in Millions | 12 Months Ended | 42 Months Ended | |||
Oct. 31, 2020USD ($)Swap | Oct. 31, 2019USD ($) | Oct. 31, 2020USD ($) | Oct. 31, 2018USD ($) | ||
Derivative Financial Instruments [Abstract] | |||||
Borrowings | $ 4,640.3 | $ 4,670.7 | $ 4,640.3 | ||
Fair value of financial liability | 4,535.1 | 4,686 | 4,535.1 | ||
Derivative financial instruments relating to hedging transactions [Abstract] | |||||
Fair value of Derivative liability | (77.9) | (36.5) | [1] | (77.9) | |
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | |||||
Derivative Financial Instruments [Abstract] | |||||
Borrowings | 2,486.3 | 2,486.3 | 2,486.3 | $ 2,580.5 | |
Interest Rate Risk [Member] | |||||
Derivative financial instruments relating to hedging transactions [Abstract] | |||||
Fair value of Derivative liability | (77.9) | (36.5) | (77.9) | ||
Notional amount | $ 2,250 | $ 2,250 | $ 2,250 | ||
Maturity date | Sep. 30, 2022 | Sep. 30, 2022 | |||
Change in fair value of outstanding hedging instruments (OCI hedging reserve excluding deferred tax) (note 27) | $ (41.3) | $ (122.9) | |||
Change in value of hedging instruments (as above adjusted for impact of credit risk) | $ (39.9) | $ (121.9) | |||
Hedging ratio | 1.1 | 1.1 | |||
Number of interest rate swaps | Swap | 4 | ||||
Base interest rate percentage | 1.949% | 1.949% | |||
Net interest paid for swap | $ 23.7 | $ 17.2 | |||
Interest Rate Risk [Member] | Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | |||||
Derivative Financial Instruments [Abstract] | |||||
Borrowings | $ 2,250 | $ 2,250 | |||
Derivative financial instruments relating to hedging transactions [Abstract] | |||||
Current margin on interest rate | 2.75% | 2.75% | |||
Interest rate percentage | 4.699% | 4.699% | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Financial risk management and_8
Financial risk management and financial instruments, Non-Derivative Financial Instruments - Designated Euro Borrowings (Details) € in Millions, $ in Millions | 12 Months Ended | ||
Oct. 31, 2020USD ($)HedgeTranche | Oct. 31, 2019USD ($) | Oct. 31, 2020EUR (€)HedgeTranche | |
Notional Amounts for Designated Euro BorrowingS [Abstract] | |||
Number of designated tranches | Tranche | 2 | 2 | |
Number of investment hedges | Hedge | 2 | 2 | |
Net investment hedges | € | € 1,050 | ||
Foreign Exchange Risk [Member] | |||
Notional Amounts for Designated Euro BorrowingS [Abstract] | |||
Hedge ratio for net investment hedges | 1.1 | 0 | |
Foreign Exchange Risk [Member] | Euro B-1 2020 Tranche [Member] | |||
Notional Amounts for Designated Euro BorrowingS [Abstract] | |||
Notional amount | $ 665.8 | $ 0 | 600 |
Maturity date | Jun. 30, 2025 | ||
Foreign Exchange Risk [Member] | Foreign Exchange (Loss) on Revaluation Transferred to OCI CTA [Member] | |||
Notional Amounts for Designated Euro BorrowingS [Abstract] | |||
Notional amount | $ (34.5) | 0 | |
Foreign Exchange Risk [Member] | Euro 2017 Tranche [Member] | |||
Notional Amounts for Designated Euro BorrowingS [Abstract] | |||
Notional amount | $ 528.5 | 0 | € 453 |
Maturity date | Jun. 30, 2024 | ||
Foreign Exchange Risk [Member] | Foreign Exchange (Loss) on Revaluation Transferred to OCI CTA [Member] | |||
Notional Amounts for Designated Euro BorrowingS [Abstract] | |||
Notional amount | $ (24.2) | $ 0 |
Financial risk management and_9
Financial risk management and financial instruments, Hedge Effectiveness (Details) - 12 months ended Oct. 31, 2020 - Forward Exchange Contract [member] £ in Millions, $ in Millions | USD ($) | GBP (£) |
Derivative Financial Instruments [Abstract] | ||
Payment to fix cancelled dividend | £ | £ 150 | |
Payment to settle forward contract | $ | $ 21.8 |
Financial risk management an_10
Financial risk management and financial instruments, Maximum Exposure to Credit Risk (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | [1] | Apr. 30, 2017 | [1] | |
Exposure to Credit Risk [Abstract] | |||||||
Trade receivables (gross) | $ 610.5 | $ 835.5 | |||||
Cash and cash equivalents | 737.2 | 355.7 | [1] | $ 620.9 | $ 151 | ||
Credit Risk [Member] | |||||||
Exposure to Credit Risk [Abstract] | |||||||
Trade receivables (gross) | 628.4 | 877.9 | |||||
Cash and cash equivalents | 737.2 | 355.7 | |||||
Total | $ 1,365.6 | $ 1,233.6 | |||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Financial risk management an_11
Financial risk management and financial instruments, Loss Allowance for Trade Receivable (Details) - USD ($) $ in Millions | 12 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Loss Allowance for Trade Receivables [Abstract] | ||
Beginning balance | $ 42.4 | $ 41.9 |
Accounting policy change (IFRS 9 - recognized against retained earnings on November 1, 2018) | 0 | 20 |
Revised beginning balance | 42.4 | 61.9 |
Loss allowance provided in the period | (4.8) | 16 |
Receivables written off as uncollectable | (19.7) | (35.5) |
Ending balance | $ 17.9 | $ 42.4 |
Financial risk management an_12
Financial risk management and financial instruments, Foreign Exchange Risk (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Exposure to Foreign Exchange Risk [Abstract] | |||
Foreign exchange gain (loss) | $ (7.9) | $ (18.2) | $ 37.4 |
Forward Contract [member] | |||
Exposure to Foreign Exchange Risk [Abstract] | |||
Payment to settle forward contract | 21.8 | ||
Currency Risk [Member] | |||
Exposure to Foreign Exchange Risk [Abstract] | |||
Foreign exchange gain (loss) | (29.7) | $ (11.3) | |
Currency Risk [Member] | Forward Contract [member] | |||
Exposure to Foreign Exchange Risk [Abstract] | |||
Payment to settle forward contract | $ 21.8 |
Financial risk management an_13
Financial risk management and financial instruments, Exposure Report Analysis (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | $ 4,640.3 | $ 4,670.7 | ||
Bank Loan Secured [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | 4,733.2 | $ 4,775 | $ 4,996.9 | |
Euro [Member] | Bank Loan Secured [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | 1,228.7 | |||
US Dollar [Member] | Bank Loan Secured [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | 3,504.5 | |||
Currency Risk [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | 10 | |||
Currency Risk [Member] | Euro [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | (1,280.1) | ||
Currency Risk [Member] | Indian Rupee (INR) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | (42.4) | ||
Currency Risk [Member] | Israeli Shekel (ILS) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | (29.2) | ||
Currency Risk [Member] | Chinese Yuan (CNY) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | (25.6) | ||
Currency Risk [Member] | Australian Dollar (AUD) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | (15.7) | ||
Currency Risk [Member] | Japanese Yen (JPY) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 55.1 | ||
Currency Risk [Member] | Swedish Krona (SEK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 23.5 | ||
Currency Risk [Member] | Swiss Franc (CHF) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 18.9 | ||
Currency Risk [Member] | Danish Krone (DKK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 17.1 | ||
Currency Risk [Member] | Canadian Dollar (CAD) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 15.9 | ||
Currency Risk [Member] | Mexican Peso (MXN) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 14.6 | ||
Currency Risk [Member] | United Arab Emirates Dirham (AED) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 13.7 | ||
Currency Risk [Member] | Czech Koruna (CZK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 10.3 | ||
+-5% [Member] | Euro [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 64 | ||
+-5% [Member] | Indian Rupee (INR) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 2.1 | ||
+-5% [Member] | Israeli Shekel (ILS) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.4 | ||
+-5% [Member] | Chinese Yuan (CNY) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.3 | ||
+-5% [Member] | Australian Dollar (AUD) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.8 | ||
+-5% [Member] | Japanese Yen (JPY) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 2.8 | ||
+-5% [Member] | Swedish Krona (SEK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.2 | ||
+-5% [Member] | Swiss Franc (CHF) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.9 | ||
+-5% [Member] | Danish Krone (DKK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.9 | ||
+-5% [Member] | Canadian Dollar (CAD) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.8 | ||
+-5% [Member] | Mexican Peso (MXN) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.7 | ||
+-5% [Member] | United Arab Emirates Dirham (AED) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.7 | ||
+-5% [Member] | Czech Koruna (CZK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 0.5 | ||
+-10% [Member] | Euro [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 128 | ||
+-10% [Member] | Indian Rupee (INR) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 4.2 | ||
+-10% [Member] | Israeli Shekel (ILS) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 2.9 | ||
+-10% [Member] | Chinese Yuan (CNY) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 2.6 | ||
+-10% [Member] | Australian Dollar (AUD) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.6 | ||
+-10% [Member] | Japanese Yen (JPY) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 5.5 | ||
+-10% [Member] | Swedish Krona (SEK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 2.4 | ||
+-10% [Member] | Swiss Franc (CHF) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.9 | ||
+-10% [Member] | Danish Krone (DKK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.7 | ||
+-10% [Member] | Canadian Dollar (CAD) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.6 | ||
+-10% [Member] | Mexican Peso (MXN) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.5 | ||
+-10% [Member] | United Arab Emirates Dirham (AED) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1.4 | ||
+-10% [Member] | Czech Koruna (CZK) [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Currency exposures | [1] | 1 | ||
+1% Interest [Member] | LIBOR, EURIBOS [Member] | Bank Loan Secured [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | 47.3 | |||
+1% Interest [Member] | LIBOR, EURIBOS [Member] | Euro [Member] | Bank Loan Secured [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | 12.3 | |||
+1% Interest [Member] | LIBOR, EURIBOS [Member] | US Dollar [Member] | Bank Loan Secured [Member] | ||||
Sensitivity Analysis [Abstract] | ||||
Total gross debt | $ 35 | |||
[1] | Presenting aggregate foreign exchange exposures in excess of $10 million equivalent. |
Financial risk management an_14
Financial risk management and financial instruments, Capital Structure of Group at Statement of Financial Position Date (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | Apr. 30, 2017 | [1] | ||
Capital Risk Management [Abstract] | |||||||
Borrowings | $ 4,640.3 | $ 4,670.7 | |||||
Cash and cash equivalents | (737.2) | (355.7) | [1] | $ (620.9) | [1] | $ (151) | |
Finance Lease obligations | 250.4 | 23.5 | |||||
Unamortised prepaid facility arrangement fees | 92.9 | 104.3 | |||||
Bank loan secured [Member] | |||||||
Capital Risk Management [Abstract] | |||||||
Borrowings | 4,733.2 | 4,775 | $ 4,996.9 | ||||
Capital Risk Management [Member] | |||||||
Capital Risk Management [Abstract] | |||||||
Borrowings | (4,640.3) | (4,670.7) | |||||
Cash and cash equivalents | 737.2 | 355.7 | |||||
Finance Lease obligations | (250.4) | (23.5) | |||||
Total net debt | $ (4,153.5) | $ (4,338.5) | |||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Financial risk management an_15
Financial risk management and financial instruments, Change in Liabilities Arising from Financing Activities for Interest Bearing Loans and Finance Leases (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Interest bearing loans [Roll Forward] | |||||
Beginning balance | $ 4,670.7 | ||||
Draw down | 1,490.8 | $ 0 | [1] | $ 1,043.8 | [1] |
Repayments | (1,589.7) | (212.6) | [1] | (252.9) | [1] |
Ending balance | 4,640.3 | 4,670.7 | |||
Finance Leases [Roll Forward] | |||||
Beginning balance | 23.5 | ||||
Adoption of IFRS 16 | 269.8 | ||||
Beginning Balance after adoption of IFRS16 | 293.3 | ||||
New leases | 41.6 | ||||
Repayments | (93.3) | ||||
Disposals | (0.2) | ||||
Interest | 13.2 | ||||
Foreign exchange | (4.2) | ||||
Ending balance | 250.4 | 23.5 | |||
Total [Roll Forward] | |||||
Beginning balance | 4,798.5 | ||||
Adoption of IFRS 16 | 269.8 | ||||
Beginning Balance after adoption of IFRS16 | 5,068.3 | ||||
Draw down/New leases | 1,532.4 | ||||
Repayments | (1,683) | ||||
Disposals | (0.2) | ||||
Interest | 13.2 | ||||
Foreign exchange | 52.9 | ||||
Ending balance | 4,983.6 | 4,798.5 | |||
Bank Loan Secured [Member] | |||||
Interest bearing loans [Roll Forward] | |||||
Beginning balance | 4,775 | 4,996.9 | |||
Draw down | 1,490.8 | ||||
Repayments | (1,589.7) | (212.6) | |||
Disposals | 0 | ||||
Interest | 0 | ||||
Foreign exchange | 57.1 | (9.3) | |||
Ending balance | $ 4,733.2 | $ 4,775 | $ 4,996.9 | ||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Share capital (Details)
Share capital (Details) | Apr. 29, 2019£ / sharesshares | Oct. 31, 2020USD ($)shares | Oct. 31, 2019USD ($)shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2020£ / sharesshares | Oct. 31, 2019£ / sharesshares | Oct. 31, 2018£ / sharesshares | |||
Share capital, Disclosure [Abstract] | ||||||||||
Shares issued and fully paid at beginning of period | [1] | $ 47,200,000 | ||||||||
Shares utilized to satisfy option awards | $ 710,000,000 | |||||||||
Share reorganization | 0 | [2] | $ 0 | [3] | ||||||
Shares issued relating to acquisition of the HPE Software business | [3] | 6,514,200,000 | ||||||||
Redemption of shares (in shares) | shares | (413,784,754) | |||||||||
Redemption of shares | 1,800,000,000 | [2] | 500,000,000 | [3] | ||||||
Shares issued and fully paid at end of period | 47,300,000 | 47,200,000 | [1] | |||||||
Nominal value per share (in pounds per share) | £ / shares | £ 335.89 | £ 1,963 | ||||||||
Proceeds from issuing shares | $ 2,600,000 | $ 3,100,000 | $ 5,800,000 | |||||||
Number of treasury shares held (in shares) | shares | 29,644,627 | 30,200,905 | 9,858,205 | |||||||
Number of shares with voting rights (in shares) | shares | 334,900,750 | 333,382,423 | ||||||||
Number of share options (in shares) | shares | 18,856,680 | 14,533,973 | 18,156,060 | |||||||
Ordinary Shares [Member] | ||||||||||
Share capital, Disclosure [Abstract] | ||||||||||
Shares issued and fully paid at beginning of period (in shares) | shares | 363,583,328 | 436,800,513 | 229,674,479 | |||||||
Shares issued and fully paid at beginning of period | $ 47,200,000 | $ 65,800,000 | $ 39,700,000 | |||||||
Shares issued to satisfy option awards (in shares) | shares | 1,518,327 | 6,109,091 | 1,894,673 | |||||||
Shares issued to satisfy option awards | $ 100,000 | $ 100,000 | $ 200,000 | |||||||
Shares utilized to satisfy option awards (in shares) | shares | (556,278) | (4,804,817) | 0 | |||||||
Shares utilized to satisfy option awards | $ 0 | $ 0 | $ 0 | |||||||
Share reorganization (in shares) | shares | 0 | (74,521,459) | (16,935,536) | |||||||
Share reorganization | $ 0 | $ (18,700,000) | $ (2,900,000) | |||||||
Shares issued relating to acquisition of the HPE Software business (in shares) | shares | 0 | 0 | 222,166,897 | |||||||
Shares issued relating to acquisition of the HPE Software business | $ 0 | $ 0 | $ 28,800,000 | |||||||
Shares issued and fully paid at end of period (in shares) | shares | 364,545,377 | 363,583,328 | 436,800,513 | |||||||
Shares issued and fully paid at end of period | $ 47,300,000 | $ 47,200,000 | $ 65,800,000 | |||||||
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 | 0 | 413,784,754 | 229,799,802 | |||||||
Shares issued to satisfy option awards | $ 0 | $ 1,800,000,000 | $ 500,000 | |||||||
Redemption of shares (in shares) | shares | 0 | (413,784,754) | (229,799,802) | |||||||
Redemption of shares | $ 0 | $ (1,800,000,000) | $ (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 | 335.859391 | 335.859391 | ||||||||
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 | 0 | 74,521,459 | 0 | |||||||
Issue of deferred shares | $ 0 | $ 0 | $ 0 | |||||||
Redemption of shares (in shares) | shares | 0 | (74,521,459) | 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 | £ 0.1 | |||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | |||||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||||||
[3] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Share capital, Share buy-back (
Share capital, Share buy-back (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Oct. 31, 2019 | Jul. 17, 2019 | Feb. 14, 2019 | Nov. 05, 2018 | Aug. 29, 2018 | |
Share buy-back [Abstract] | |||||
Amount authorized under buy-back program | $ 200 | $ 110 | $ 400 | $ 200 | |
Shares repurchased | $ 710 | ||||
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 (£)£ / $shares | Oct. 31, 2020USD ($)shares | Oct. 31, 2019USD ($)shares | Oct. 31, 2019USD ($)£ / sharesshares | Oct. 31, 2018USD ($)shares | Oct. 31, 2020£ / shares | Apr. 29, 2019£ / shares | ||
Share buy-back [Abstract] | ||||||||||
Number of treasury shares held (in shares) | shares | 29,644,627 | 30,200,905 | 30,200,905 | 9,858,205 | ||||||
Share Buy Back Costs [Abstract] | ||||||||||
Share buy-back cost | $ | $ 710 | |||||||||
Return on Investment to Share Holders [Abstract] | ||||||||||
Average share price (in pounds per share) | £ / shares | £ 14.61 | |||||||||
Return value to share holders | $ 1,800 | £ 1,389.7 | ||||||||
Nominal value per share (in pounds per share) | £ / shares | £ 1,963 | £ 335.89 | ||||||||
Return of value effected through an issue and redemption of B shares | $ 1,800 | £ 1,389.7 | ||||||||
Shares issued to satisfy option awards (in shares) | shares | 413,784,754 | 413,784,754 | ||||||||
Redemption of shares (in shares) | shares | 413,784,754 | 413,784,754 | ||||||||
Increase in the capital redemption reserve | $ | (1,800) | [1] | $ (500) | [2] | ||||||
Net transaction costs of foreign exchange contract | $ | $ 1 | $ 35.5 | 99.6 | £ 99.6 | ||||||
Share consolidation ratio | £ / $ | 0.8296 | 0.8296 | ||||||||
Amount transferred to capital redemption reserve | $ | $ 18.7 | |||||||||
Reserves Other [Member] | ||||||||||
Return on Investment to Share Holders [Abstract] | ||||||||||
Increase in the capital redemption reserve | $ | 0 | |||||||||
Capital Redemption Reserves [Member] | ||||||||||
Return on Investment to Share Holders [Abstract] | ||||||||||
Increase in the capital redemption reserve | $ | $ 1,800 | $ 1,800 | [3] | |||||||
Treasury Shares [member] | ||||||||||
Share buy-back [Abstract] | ||||||||||
Number of shares buy-back (in shares) | shares | 0 | 29,160,054 | ||||||||
Shares utilized to satisfy option awards (in shares) | shares | 0 | (4,804,817) | ||||||||
Share reorganization (in shares) | shares | 0 | (4,012,537) | ||||||||
Number of treasury shares held (in shares) | shares | 0 | 20,342,700 | 20,342,700 | |||||||
Ordinary shares bought on the London Stock Exchange (in shares) | shares | 0 | 25,766,919 | ||||||||
ADRs purchased on the New York Stock Exchange (in shares) | shares | 0 | 3,393,135 | ||||||||
Share Buy Back Costs [Abstract] | ||||||||||
Share buy-back cost | $ | $ 0 | $ 538.8 | ||||||||
Expenses amount | $ | 0 | 5.9 | ||||||||
Share buy-back costs, net | $ | $ 0 | $ 544.7 | ||||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | |||||||||
[3] | The capital redemption reserve, a non-distributable reserve, was created as a result of Returns of Value in prior periods (note 26). |
Share premium account (Details)
Share premium account (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | ||||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||||
Share premium account [Abstract] | ||||||
Beginning balance | [1] | $ 44 | ||||
Issue and redemption of B shares | $ (1,800) | [2] | $ (500) | [3] | ||
Movement in relation to share options exercised | 2.9 | (0.7) | [2] | 5.8 | [3] | |
Ending balance | 46.5 | 44 | [1] | |||
Share Premium Account [Member] | ||||||
Share premium account [Abstract] | ||||||
Beginning balance | 44 | 41 | 192.1 | |||
Issue and redemption of B shares | 0 | 0 | [2] | (156.7) | [3] | |
Movement in relation to share options exercised | 2.5 | 3 | [2] | 5.6 | [3] | |
Ending balance | $ 46.5 | $ 44 | $ 41 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||
[3] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Other reserves (Details)
Other reserves (Details) - USD ($) $ in Millions | Apr. 29, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Reconciliation of other reserves [Roll forward] | |||||||
Return of Value - share consolidation | $ 0 | [1] | $ 0 | [2] | |||
Issue and redemption of B shares | (1,800) | [1] | (500) | [2] | |||
Reallocation of merger reserve | $ 0 | 0 | [1] | 0 | [2] | ||
Other reserve transaction details [Abstract] | |||||||
Amount recognised in hedging reserve in relation to hedging transactions | $ 1 | 35.5 | 99.6 | ||||
Reserves balance not required for any Returns of Value to shareholders | 364.6 | ||||||
Amount expected to be settled in qualifying consideration | 337 | ||||||
Other Reserves [Member] | |||||||
Reconciliation of other reserves [Roll forward] | |||||||
Beginning balance | 4,195.2 | 4,460.7 | |||||
Return of Value - share consolidation | 18.7 | ||||||
Issue and redemption of B shares | 0 | ||||||
Hedge accounting | (41.3) | (122.9) | |||||
Current tax movement on hedging | 7.8 | 23.3 | |||||
Reallocation of merger reserve | 27.6 | (184.6) | |||||
Ending balance | 4,189.3 | 4,195.2 | 4,460.7 | ||||
Capital Redemption Reserve [Member] | |||||||
Reconciliation of other reserves [Roll forward] | |||||||
Beginning balance | [3] | 2,485 | 666.3 | ||||
Return of Value - share consolidation | [3] | 18.7 | |||||
Issue and redemption of B shares | $ 1,800 | 1,800 | [3] | ||||
Hedge accounting | [3] | 0 | 0 | ||||
Current tax movement on hedging | [3] | 0 | 0 | ||||
Reallocation of merger reserve | [3] | 0 | 0 | ||||
Ending balance | [3] | 2,485 | 2,485 | 666.3 | |||
Merger Reserve [Member] | |||||||
Reconciliation of other reserves [Roll forward] | |||||||
Beginning balance | [4] | 1,739.8 | 3,724.4 | ||||
Return of Value - share consolidation | [4] | 0 | |||||
Issue and redemption of B shares | [4] | (1,800) | |||||
Hedge accounting | [4] | 0 | 0 | ||||
Current tax movement on hedging | [4] | 0 | 0 | ||||
Reallocation of merger reserve | [4] | 27.6 | (184.6) | ||||
Ending balance | [4] | 1,767.4 | 1,739.8 | 3,724.4 | |||
Other reserve transaction details [Abstract] | |||||||
Amount of reallocation reserves settled | 35.4 | 400 | |||||
Hedging Reserve [Member] | |||||||
Reconciliation of other reserves [Roll forward] | |||||||
Beginning balance | [5] | (29.6) | 70 | ||||
Return of Value - share consolidation | [5] | 0 | |||||
Issue and redemption of B shares | [5] | 0 | |||||
Hedge accounting | [5] | (41.3) | (122.9) | ||||
Current tax movement on hedging | [5] | 7.8 | 23.3 | ||||
Reallocation of merger reserve | [5] | 0 | 0 | ||||
Ending balance | [5] | $ (63.1) | $ (29.6) | $ 70 | |||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | ||||||
[3] | The capital redemption reserve, a non-distributable reserve, was created as a result of Returns of Value in prior periods (note 26). | ||||||
[4] | The merger reserve is an unrealized profit until it can be realized by the settlement of the intercompany loan by qualifying consideration. In the 12 months ended October 31, 2019, it was disclosed that $400.0 million of the merger reserve would be settled in the year. However, as at October 31, 2020, only $35.4 million of the balance was settled and the balance of $364.6 million was no longer required. However, $337.0 million is expected to be settled in qualifying consideration during the year ended October 31, 2021 and as such an equivalent proportion of the merger reserve of $27.6 million is considered unrealized, in accordance with section 3.11(d) of Tech 02/17 and therefore has been transferred from retained earnings. | ||||||
[5] | A debit of $33.5 million was recognized in the hedging reserve in relation to hedging transactions entered into in the 12 months ended October 31, 2020 (2019: $99.6 million debit). |
Non-controlling interests (Deta
Non-controlling interests (Details) $ in Thousands | Jun. 10, 2020USD ($)shares | Jun. 10, 2020JPY (¥)shares | Oct. 31, 2020USD ($) | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | |||
Non-controlling interests, Disclosure [Abstract] | ||||||||
Non-controlling interests, beginning period | [1] | $ 1,300 | ||||||
Share of profit after tax | 0 | $ 300 | [2] | $ 100 | [3] | |||
Purchase of non-controlling interests | (6,000) | (89,000) | [1] | (19,200) | [1] | |||
Non-controlling interests, period end | 0 | 1,300 | [1] | |||||
Novell Japan, Ltd [Member] | ||||||||
Non-controlling interests, Disclosure [Abstract] | ||||||||
Payment made to minority shareholders | $ 23,570 | ¥ 2,526,000 | ||||||
Number of shares acquired (in shares) | shares | 842,000 | 842,000 | ||||||
Non-controlling interests, beginning period | 1,300 | 1,000 | 900 | |||||
Share of profit after tax | 0 | 300 | 100 | |||||
Purchase of non-controlling interests | (1,300) | 0 | 0 | |||||
Non-controlling interests, period end | $ 0 | $ 1,300 | $ 1,000 | |||||
Proportion of equity interest held by non-controlling interests [Abstract] | ||||||||
Country of incorporation and operation of non-controlling interests | Japan | |||||||
Percentage of ownership interests held by non-controlling interests | 100.00% | 84.24% | ||||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. | |||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||||
[3] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Employees and directors, Staff
Employees and directors, Staff Costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Staff costs [Abstract] | |||
Wages and salaries | $ 1,187.3 | $ 1,204.4 | $ 1,819.2 |
Redundancy and termination costs (non-exceptional) | 1 | 0.5 | 2.1 |
Social security costs | 97.5 | 93.6 | 159 |
Other pension costs | 41.6 | 41.7 | 50.4 |
Short-term employee benefits expense | 1,327.4 | 1,340.2 | 2,030.7 |
Cost of employee share schemes (Share-based payments section below) | 17 | 68.8 | 64.3 |
Total | $ 1,344.4 | $ 1,409 | $ 2,095 |
Employees and directors, Pensio
Employees and directors, Pension Costs (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Pension costs comprise [Abstract] | |||
Defined benefit schemes | $ 10.4 | $ 9 | $ 7.1 |
Defined contribution schemes | 31.2 | 32.7 | 43.3 |
Total | $ 41.6 | $ 41.7 | $ 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, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Average number of employees [Abstract] | |||
Sales and distribution | 5,066 | 5,577 | 6,375 |
Research and development | 5,091 | 5,226 | 4,952 |
General and administration | 1,937 | 1,994 | 1,386 |
Average monthly number of people (including executive directors) employed by the Group | 12,094 | 12,797 | 12,713 |
Continuing Operations [Member] | |||
Average number of employees [Abstract] | |||
Sales and distribution | 5,066 | 5,413 | 5,860 |
Research and development | 5,091 | 5,056 | 4,323 |
General and administration | 1,937 | 1,991 | 1,378 |
Average monthly number of people (including executive directors) employed by the Group | 12,094 | 12,460 | 11,561 |
Discontinued Operation [Member] | |||
Average number of employees [Abstract] | |||
Sales and distribution | 0 | 164 | 515 |
Research and development | 0 | 170 | 629 |
General and administration | 0 | 3 | 8 |
Average monthly number of people (including executive directors) employed by the Group | 0 | 337 | 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, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Share based payments [Abstract] | |||
Aggregate emoluments | $ 1,187.3 | $ 1,204.4 | $ 1,819.2 |
Company contributions to money purchase pension scheme | 31.2 | 32.7 | 43.3 |
Directors [Member] | |||
Share based payments [Abstract] | |||
Aggregate emoluments | 4.1 | 3.7 | 14.6 |
Aggregate gains made on the exercise of share options | 0.3 | 79.7 | 77.7 |
Company contributions to money purchase pension scheme | 0 | 0 | 0.7 |
Total | $ 4.4 | $ 83.4 | $ 93 |
Employees and directors, Key Ma
Employees and directors, Key Management Compensation (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Key management compensation [Abstract] | |||
Short-term employee benefits | $ 12.4 | $ 9.5 | $ 25.9 |
Share based payments | 2.2 | 25.3 | 44.5 |
Total | 14.6 | $ 34.8 | $ 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, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Share based payment arrangement [Abstract] | |||
Share-based payments in comprehensive income | $ 17 | $ 71.3 | |
Share-based compensation - IFRS 2 charge | 18.3 | 62 | $ 70.9 |
Employer taxes | (1.3) | 6.8 | (6.6) |
Continuing operations | 17 | 68.8 | 64.3 |
Discontinued operations | 0 | 2.5 | 0 |
Total | 17 | 71.3 | 64.3 |
Trade and Other Payables [Member] | |||
Share based payment arrangement [Abstract] | |||
Employer taxes | 0.6 | 1.9 | 20.6 |
Other Non-current Liabilities [Member] | |||
Share based payment arrangement [Abstract] | |||
Employer taxes | $ 0 | $ 0 | $ 0.5 |
Employees and directors, Incent
Employees and directors, Incentive Plan 2005 (Details) $ / shares in Units, $ in Millions | 12 Months Ended | 18 Months Ended | |||||||
Oct. 31, 2020USD ($)sharesyr$ / shares | Oct. 31, 2020£ / shares | Oct. 31, 2019USD ($)sharesyr | Oct. 31, 2019£ / shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2020shares£ / shares | Jan. 31, 2020shares£ / shares | Oct. 31, 2019shares£ / shares | Oct. 31, 2018shares£ / shares | |
Number of Awards [Abstract] | |||||||||
Exercised (in shares) | shares | (18,856,680) | (14,533,973) | (18,156,060) | ||||||
Outstanding at ending period (in shares) | shares | 2,255,000 | ||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||
Share based compensation charge | $ | $ 17 | $ 68.8 | $ 64.3 | ||||||
Number of awards (in shares) | shares | 2,255,000 | 2,255,000 | |||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Unvested share options (in shares) | shares | 13,284,000 | ||||||||
Description | Various other vesting conditions | ||||||||
Black-Scholes Valuation Model [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Weighted average fair value, options granted (in pounds per share) | £ 2.01 | £ 14.54 | |||||||
Share-based plans, significant model [Abstract] | |||||||||
Weighted average share price at the grant date (in pounds per share) | 2.01 | 14.54 | |||||||
Incentive Plan 2005 [Member] | |||||||||
Number of Awards [Abstract] | |||||||||
Outstanding at beginning period (in shares) | shares | 9,227,000 | 5,620,000 | |||||||
Exercised (in shares) | shares | (734,000) | (3,410,000) | |||||||
Forfeited/lapsed (in shares) | shares | (2,100,000) | (545,000) | |||||||
Granted (in shares) | shares | 7,829,000 | 7,562,000 | |||||||
Outstanding at ending period (in shares) | shares | 14,222,000 | 9,227,000 | 5,620,000 | ||||||
Exercisable at ending period (in shares) | shares | 938,000 | 1,416,000 | |||||||
Weighted average exercise prices [Abstract] | |||||||||
Outstanding at beginning period (in pounds per share) | 0.06 | 0.14 | |||||||
Exercised (in pounds per share) | 0.01 | 0.17 | |||||||
Forfeited (in pounds per share) | 0.22 | 0.27 | |||||||
Granted (in pounds per share) | 0 | 0 | |||||||
Outstanding at period end (in pounds per share) | 0 | 0.06 | |||||||
Exercisable at ending period (in pounds per share) | £ 0.04 | £ 0.34 | |||||||
Weighted average share price (in pounds per share) | 5.26 | 17.07 | |||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||
Share based compensation charge | $ | $ 9.3 | $ 31.1 | |||||||
Defined benefit plan, amount charged to consolidated statement of comprehensive income of national insurance | $ | $ 1.3 | $ 8.5 | |||||||
Weighted average exercise price (in pounds per share) | 0 | 0.14 | £ 0 | £ 0 | £ 0.06 | £ 0.14 | |||
Number of awards (in shares) | shares | 14,222,000 | 9,227,000 | 5,620,000 | 14,222,000 | 14,222,000 | 9,227,000 | 5,620,000 | ||
Weighted average remaining contractual life years | 17 years 1 month 6 days | 3 years 4 months 24 days | |||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Free cash flow/ relative TSR growth vesting period | 3 years | ||||||||
Term of adjusted EBITDA growth targets | 2 years | ||||||||
Cumulative earning per share growth of retail prices index percentage | 3.00% | ||||||||
Award vesting percentage | 25.00% | ||||||||
Percentage of retail prices index | 9.00% | ||||||||
Weighted average fair value, options granted (in pounds per share) | 2.50 | 16.44 | |||||||
Share-based plans, significant model [Abstract] | |||||||||
Weighted average share price at the grant date (in pounds per share) | 2.50 | 16.44 | |||||||
Expected volatility | 72.85% | ||||||||
Expected dividend yield | 23.76% | ||||||||
Expected option life | yr | 2 | ||||||||
Annual risk-free interest rate | 0.17% | ||||||||
Exercised (in dollars per share) | 0.01 | 0.17 | |||||||
Incentive Plan 2005 [Member] | Bottom of Range [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Term of continued employment | 2 years | ||||||||
Cumulative earning per share growth vesting period | 3 years | ||||||||
Share-based plans, significant model [Abstract] | |||||||||
Expected volatility | 48.91% | ||||||||
Expected dividend yield | 4.78% | ||||||||
Expected option life | yr | 0.76 | ||||||||
Annual risk-free interest rate | 0.49% | ||||||||
Incentive Plan 2005 [Member] | Top of Range [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Term of continued employment | 3 years | ||||||||
Cumulative earning per share growth vesting period | 4 years | ||||||||
Share-based plans, significant model [Abstract] | |||||||||
Expected volatility | 49.68% | ||||||||
Expected dividend yield | 5.87% | ||||||||
Expected option life | yr | 4 | ||||||||
Annual risk-free interest rate | 1.38% | ||||||||
Incentive Plan 2005 [Member] | Monte-Carlo Simulation Model [Member] | |||||||||
Weighted average exercise prices [Abstract] | |||||||||
Exercised (in pounds per share) | $ / shares | $ 2.67 | ||||||||
Share-based plans, significant model [Abstract] | |||||||||
Exercised (in dollars per share) | $ / shares | 2.67 | ||||||||
Grant date share price (in dollars per share) | $ / shares | $ 4.65 | ||||||||
Incentive Plan 2005 [Member] | 0.10 or less [Member] | |||||||||
Number of Awards [Abstract] | |||||||||
Outstanding at beginning period (in shares) | shares | 8,982,000 | ||||||||
Outstanding at ending period (in shares) | shares | 14,104,000 | 8,982,000 | |||||||
Weighted average exercise prices [Abstract] | |||||||||
Outstanding at beginning period (in pounds per share) | 0.01 | ||||||||
Outstanding at period end (in pounds per share) | 0 | 0.01 | |||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||
Weighted average exercise price (in pounds per share) | 0.01 | 0.01 | £ 0 | £ 0.01 | |||||
Number of awards (in shares) | shares | 14,104,000 | 8,982,000 | 14,104,000 | 8,982,000 | |||||
Weighted average remaining contractual life years | 17 years 2 months 12 days | 3 years 4 months 24 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 Awards [Abstract] | |||||||||
Outstanding at beginning period (in shares) | shares | 137,000 | ||||||||
Outstanding at ending period (in shares) | shares | 118,000 | 137,000 | |||||||
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 awards (in shares) | shares | 137,000 | 137,000 | 118,000 | 137,000 | |||||
Weighted average remaining contractual life years | 2 years 9 months 18 days | 3 years 8 months 12 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 Awards [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 awards (in shares) | shares | 0 | 0 | 0 | 0 | |||||
Weighted average remaining contractual life 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 Awards [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 awards (in shares) | shares | 0 | 0 | 0 | 0 | |||||
Weighted average remaining contractual life 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 Awards [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 awards (in shares) | shares | 0 | 0 | 0 | 0 | |||||
Weighted average remaining contractual life years | 0 years | 0 years | |||||||
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 Awards [Abstract] | |||||||||
Outstanding at beginning period (in shares) | shares | 108,000 | ||||||||
Outstanding at ending period (in shares) | shares | 0 | 108,000 | |||||||
Weighted average exercise prices [Abstract] | |||||||||
Outstanding at beginning period (in pounds per share) | 4.02 | ||||||||
Outstanding at period end (in pounds per share) | 0 | 4.02 | |||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||
Weighted average exercise price (in pounds per share) | £ 4.02 | £ 4.02 | £ 0 | £ 4.02 | |||||
Number of awards (in shares) | shares | 0 | 108,000 | 0 | 108,000 | |||||
Weighted average remaining contractual life years | 0 years | 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 | ||||||||
Free Cash Flow/ Relative TSR Growth [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Unvested share options (in shares) | shares | 4,601,000 | ||||||||
Description | Awards made with a free cash flow target and relative TSR target over a three-year period. | ||||||||
Continued Employment [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Unvested share options (in shares) | shares | 3,528,000 | ||||||||
Description | Awards under a continuing employment criteria over a two or three-year period. | ||||||||
Adjusted EBITDA Growth [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Unvested share options (in shares) | shares | 2,609,000 | ||||||||
Description | Awards made with Adjusted EBITDA growth targets over a two-year period. | ||||||||
Cumulative Earnings per share ("EPS") Growth [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Unvested share options (in shares) | shares | 1,862,000 | ||||||||
Description | EPS for these awards is defined as Diluted Adjusted EPS. Where the cumulative EPS growth over a three or four-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. | ||||||||
Other [Member] | |||||||||
Terms and Conditions of Sharebased Payment Arrangement, Unvested Awards Granted [Abstract] | |||||||||
Unvested share options (in shares) | shares | 684,000 |
Employees and directors, Additi
Employees and directors, Additional Share Grants (Details) $ in Millions | 12 Months Ended | 18 Months Ended | ||||||
Oct. 31, 2020USD ($)shares | Oct. 31, 2020£ / shares | Oct. 31, 2019USD ($)shares | Oct. 31, 2019£ / shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2020shares£ / shares | Oct. 31, 2019shares£ / shares | Oct. 31, 2018shares£ / shares | |
Number of Awards [Abstract] | ||||||||
Exercised (in shares) | (18,856,680) | (14,533,973) | (18,156,060) | |||||
Outstanding at ending period (in shares) | 2,255,000 | |||||||
Share based payment, range of exercise price [Abstract] | ||||||||
Number of options (in shares) | 2,255,000 | 2,255,000 | ||||||
Additional share grants [Abstract] | ||||||||
Share based compensation charge | $ | $ 17 | $ 68.8 | $ 64.3 | |||||
Additional Share Grants [Member] | ||||||||
Number of Awards [Abstract] | ||||||||
Outstanding at beginning period (in shares) | 3,676,000 | 10,489,000 | ||||||
Granted (in shares) | 0 | 458,000 | ||||||
Exercised (in shares) | (15,000) | (2,601,000) | ||||||
Surrendered (in shares) | (2,385,000) | 0 | ||||||
Lapsed (in shares) | (830,000) | (4,670,000) | ||||||
Outstanding at ending period (in shares) | 446,000 | 3,676,000 | 10,489,000 | |||||
Exercisable at ending period (in shares) | 446,000 | 461,000 | ||||||
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 | ||||||
Surrendered (in pounds per share) | £ / shares | 0 | 0 | ||||||
Lapsed (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 | ||||||
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) | 446,000 | 3,676,000 | 10,489,000 | 446,000 | 3,676,000 | 10,489,000 | ||
Weighted average remaining contractual life (in years) | 4 years 1 month 6 days | 7 years 3 months 18 days | ||||||
Additional Share Grants [Member] | The Attachmate Group, Inc. [Member] | ||||||||
Number of Awards [Abstract] | ||||||||
Outstanding at beginning period (in shares) | 461,000 | 3,062,000 | ||||||
Granted (in shares) | 0 | 0 | ||||||
Exercised (in shares) | (15,000) | (2,601,000) | ||||||
Surrendered (in shares) | 0 | 0 | ||||||
Lapsed (in shares) | 0 | 0 | ||||||
Outstanding at ending period (in shares) | 446,000 | 461,000 | 3,062,000 | |||||
Exercisable at ending period (in shares) | 446,000 | 461,000 | ||||||
Share based payment, range of exercise price [Abstract] | ||||||||
Number of options (in shares) | 446,000 | 3,062,000 | 3,062,000 | 446,000 | 461,000 | 3,062,000 | ||
Additional share grants [Abstract] | ||||||||
Number of options vested (in shares) | 445,917 | 460,917 | ||||||
Additional Share Grants [Member] | HPE Software Business [Member] | ||||||||
Number of Awards [Abstract] | ||||||||
Outstanding at beginning period (in shares) | 3,215,000 | 7,427,000 | ||||||
Granted (in shares) | 0 | 458,000 | ||||||
Exercised (in shares) | 0 | 0 | ||||||
Surrendered (in shares) | (2,385,000) | 0 | ||||||
Lapsed (in shares) | (830,000) | (4,670,000) | ||||||
Outstanding at ending period (in shares) | 0 | 3,215,000 | 7,427,000 | |||||
Exercisable at ending period (in shares) | 0 | 0 | ||||||
Share based payment, range of exercise price [Abstract] | ||||||||
Number of options (in shares) | 0 | 3,215,000 | 7,427,000 | 0 | 3,215,000 | 7,427,000 | ||
Additional share grants [Abstract] | ||||||||
Share based compensation charge | $ | $ 3.9 | $ 30.6 | ||||||
Defined benefit plan, amount charged to consolidated statement of comprehensive income of national insurance | $ | $ 0 | $ 1.7 | ||||||
Additional Share Grants [Member] | Range One [Member] | ||||||||
Number of Awards [Abstract] | ||||||||
Outstanding at beginning period (in shares) | 3,676,000 | |||||||
Outstanding at ending period (in shares) | 446,000 | 3,676,000 | ||||||
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) | 446,000 | 3,676,000 | 446,000 | 3,676,000 | ||||
Weighted average remaining contractual life (in years) | 4 years 1 month 6 days | 7 years 3 months 18 days |
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, 2020USD ($)sharesPlan$ / £ | Oct. 31, 2020shares£ / shares | Oct. 31, 2019USD ($)shares$ / £ | Oct. 31, 2019shares£ / shares | Oct. 31, 2018USD ($)shares | |
Share-Based Plans Outstanding [Abstract] | |||||
Exercised (in shares) | shares | (18,856,680) | (14,533,973) | (18,156,060) | ||
Outstanding at ending period (in shares) | shares | 2,255,000 | ||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Number of employee benefit plans | Plan | 2 | ||||
Share based compensation charge | $ | $ 17 | $ 68.8 | $ 64.3 | ||
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) | £ / shares | £ 14.280 | ||||
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) | £ / shares | 14.628 | ||||
March 1, 2022 - May 31, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 689,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 1, 2020 | ||||
Exercise price per share (in pounds per share) | £ / shares | 6.359 | ||||
October 1, 2022 - December 31, 2022 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 1,113,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | October 1, 2020 | ||||
Exercise price per share (in pounds per share) | £ / shares | £ 2.702 | ||||
Sharesave Plan 2006 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at beginning period (in shares) | shares | 438,000 | 496,000 | |||
Exercised (in shares) | shares | 0 | (81,000) | |||
Forfeited/lapsed (in shares) | shares | (912,000) | (102,000) | |||
Granted (in shares) | shares | 2,409,000 | 125,000 | |||
Outstanding at ending period (in shares) | shares | 1,935,000 | 438,000 | 496,000 | ||
Exercisable at ending period (in shares) | shares | 0 | 62,000 | 62,000 | ||
Weighted Average Exercise Price [Abstract] | |||||
Outstanding at beginning period (in pounds per share) | £ / shares | £ 12.21 | £ 11.85 | |||
Exercised (in pounds per share) | £ / shares | 10.23 | 11.71 | |||
Forfeited (in pounds per share) | £ / shares | 8.55 | 12.97 | |||
Granted (in pounds per share) | £ / shares | 3.38 | 13.74 | |||
Outstanding at period end (in pounds per share) | £ / shares | 2.93 | 12.21 | |||
Exercisable at ending period (in pounds per share) | £ / shares | 0 | £ 14.61 | |||
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] | April 1, 2021 - September 30, 2021 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 8,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | February 23, 2018 | ||||
Exercise price per share (in pounds per share) | £ / shares | 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 | 1,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | February 23, 2018 | ||||
Exercise price per share (in pounds per share) | £ / shares | 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 | 33,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 3, 2018 | ||||
Exercise price per share (in pounds per share) | £ / shares | 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 | 1,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 3, 2018 | ||||
Exercise price per share (in pounds per share) | £ / shares | 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 | 10,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 7, 2019 | ||||
Exercise price per share (in pounds per share) | £ / shares | 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 | 1,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 7, 2019 | ||||
Exercise price per share (in pounds per share) | £ / shares | 15.330 | ||||
Sharesave Plan 2006 [Member] | October 1, 2021 - March 31, 2023 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 2,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 5, 2019 | ||||
Exercise price per share (in pounds per share) | £ / shares | 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 | 7,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 5, 2019 | ||||
Exercise price per share (in pounds per share) | £ / shares | 15.743 | ||||
Sharesave Plan 2006 [Member] | April 1, 2023 - September 30, 2023 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 83,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 5, 2020 | ||||
Exercise price per share (in pounds per share) | £ / shares | 6.177 | ||||
Sharesave Plan 2006 [Member] | April 1, 2023 - September 30, 2023 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 8,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | March 5, 2020 | ||||
Exercise price per share (in pounds per share) | £ / shares | 7.282 | ||||
Sharesave Plan 2006 [Member] | October 1, 2023 - March 31, 2024 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 1,680,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 21, 2020 | ||||
Exercise price per share (in pounds per share) | £ / shares | 2.413 | ||||
Sharesave Plan 2006 [Member] | October 1, 2023 - March 31, 2024 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at ending period (in shares) | shares | 101,000 | ||||
Weighted Average Exercise Price [Abstract] | |||||
Date of grant | August 21, 2020 | ||||
Exercise price per share (in pounds per share) | £ / shares | £ 2.411 | ||||
Employee Stock Purchase Plan 2006 [Member] | |||||
Share-Based Plans Outstanding [Abstract] | |||||
Outstanding at beginning period (in shares) | shares | 1,192,000 | 800,000 | |||
Exercised (in shares) | shares | (1,472,000) | (17,000) | |||
Forfeited/lapsed (in shares) | shares | (423,000) | (44,000) | |||
Granted (in shares) | shares | 2,958,000 | 453,000 | |||
Outstanding at ending period (in shares) | shares | 2,255,000 | 1,192,000 | 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) | £ / shares | £ 11.82 | £ 10.47 | |||
Exercised (in pounds per share) | £ / shares | 10.27 | 11.14 | |||
Forfeited (in pounds per share) | £ / shares | 10.82 | 14.40 | |||
Granted (in pounds per share) | £ / shares | 6.60 | 14.44 | |||
Outstanding at period end (in pounds per share) | £ / shares | 6.17 | 11.82 | |||
Exercisable at ending period (in pounds per share) | £ / shares | 0 | 0 | |||
Share-Based Payment Significant Inputs [Abstract] | |||||
Weighted average share price at the grant date (in pounds per share) | £ / shares | 4.38 | 17.56 | |||
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 | 57.72% | 49.06% | |||
Expected dividend yield | $ / £ | 8.22% | 4.63% | |||
Expected option life | 2 | 2 | |||
Annual risk-free interest rate | $ / £ | 0.20% | 0.49% | |||
Employee Stock Purchase Plan 2006 [Member] | Top of Range [Member] | |||||
Share-Based Payment Significant Inputs [Abstract] | |||||
Expected volatility | 72.37% | 49.68% | |||
Expected dividend yield | $ / £ | 16.11% | 5.87% | |||
Expected option life | 3 | 3 | |||
Annual risk-free interest rate | $ / £ | 0.52% | 1.16% | |||
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) | £ / shares | £ 1.27 | £ 5.93 | |||
Share based compensation charge | $ | $ 5.1 | $ 2.8 |
Contingent liabilities (Details
Contingent liabilities (Details) $ in Millions | 12 Months Ended |
Oct. 31, 2020USD ($)LawsuitPatent | |
Shareholder Litigation [Member] | |
Contingent liabilities [Abstract] | |
Number of class action lawsuits | Lawsuit | 2 |
Liability recognized | $ | $ 0 |
Number of lawsuits for which complaint is dismissed | Lawsuit | 1 |
Patent Litigation [Member] | |
Contingent liabilities [Abstract] | |
Number of patents alleged under infringement lawsuit | Patent | 3 |
Provision | $ | $ 0 |
Discontinued operation, SUSE Bu
Discontinued operation, SUSE Business Segment (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Aug. 21, 2018 |
SUSE [Member] | ||
Discontinued operation of business [Abstract] | ||
Cash consideration | $ 2,540.3 | $ 2,500 |
Discontinued operation, Financi
Discontinued operation, Financial Performance (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | $ 3,001 | $ 3,348.4 | [1] | $ 4,754.4 | [2] | |
Operating profit/(loss) | (2,661.4) | 221.7 | [1] | 376.8 | [2] | |
(Loss)/profit on disposal of the SUSE business | 0 | 3.7 | 0 | |||
Profit/(loss) before tax | (2,940.4) | (34.1) | [1] | 34.1 | [2] | |
Profit for the year from discontinued operation | 5.1 | 1,487.2 | [1] | 76.9 | [2] | |
Before Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 3,001 | 3,348.4 | 4,754.4 | |||
Operating profit/(loss) | 350.2 | 515.9 | 915 | |||
Profit/(loss) before tax | 71.2 | 260.1 | 578.1 | |||
Profit for the year from discontinued operation | 7.3 | 28.7 | 76.9 | |||
Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 0 | 0 | 0 | |||
Operating profit/(loss) | (3,011.6) | (294.2) | (538.2) | |||
(Loss)/profit on disposal of the SUSE business | 0 | 3.7 | 0 | |||
Profit/(loss) before tax | (3,011.6) | (294.2) | (544) | |||
Profit for the year from discontinued operation | (2.2) | 1,458.5 | $ 0 | |||
SUSE [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 0 | 127 | ||||
Operating costs | 0 | (89.3) | ||||
Operating profit/(loss) | 0 | 37.7 | ||||
Share of results of associate | 0 | (0.3) | ||||
(Loss)/profit on disposal of the SUSE business | (3) | 1,767.9 | ||||
Profit/(loss) before tax | (3) | 1,805.3 | ||||
Taxation | 8.1 | (318.1) | ||||
Profit for the year from discontinued operation | $ (1,767.9) | 5.1 | 1,487.2 | |||
Discontinued operation - Cash flow [Abstract] | ||||||
Net cash inflows from operating activities | 0 | 18.6 | ||||
Net cash outflows from investing activities | 1.3 | 0 | ||||
Net cash flows from financing activities | 0 | 0 | ||||
SUSE [Member] | Before Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 0 | 127 | ||||
Operating costs | 0 | (89.3) | ||||
Operating profit/(loss) | 0 | 37.7 | ||||
Share of results of associate | 0 | (0.3) | ||||
(Loss)/profit on disposal of the SUSE business | 0 | 0 | ||||
Profit/(loss) before tax | 0 | 37.4 | ||||
Taxation | 7.3 | (8.7) | ||||
Profit for the year from discontinued operation | 7.3 | 28.7 | ||||
SUSE [Member] | Exceptional Items [Member] | ||||||
Discontinued operation - Financial performance [Abstract] | ||||||
Revenue | 0 | 0 | ||||
Operating costs | 0 | 0 | ||||
Operating profit/(loss) | 0 | 0 | ||||
Share of results of associate | 0 | 0 | ||||
(Loss)/profit on disposal of the SUSE business | (3) | 1,767.9 | ||||
Profit/(loss) before tax | (3) | 1,767.9 | ||||
Taxation | 0.8 | (309.4) | ||||
Profit for the year from discontinued operation | $ (2.2) | $ 1,458.5 | ||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | |||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Discontinued operation, Disposa
Discontinued operation, Disposal of SUSE Business - Net Assets and Profit (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Aug. 21, 2018 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | [2] | |
Profit on disposal of business [Abstract] | |||||||
Profit on disposal | $ (5.1) | $ (1,487.2) | [1] | $ (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 | ||||||
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 year | (45.3) | ||||||
Disposal proceeds, less costs to sell recognized in the year | 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 on disposal | $ 1,767.9 | $ (5.1) | $ (1,487.2) | ||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. |
Discontinued operation, Dispo_2
Discontinued operation, Disposal of SUSE Business - Inflow of Cash and Cash Equivalents (Details) - USD ($) $ in Millions | Mar. 15, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | [1] | Oct. 31, 2018 | [1] |
Inflow of cash and cash equivalents on disposal of business [Abstract] | ||||||
Investing cash flows generated from discontinued operation, net of cash disposed | $ 0 | $ 2,473.5 | $ 0 | |||
SUSE [Member] | ||||||
Inflow of cash and cash equivalents on disposal of business [Abstract] | ||||||
Disposal proceeds, less total costs to sell | $ 2,495 | |||||
Cash disposed | (21.5) | |||||
Investing cash flows generated from discontinued operation, net of cash disposed | $ 2,473.5 | |||||
[1] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Discontinued operation, Net Ass
Discontinued operation, Net Assets and Profit Relating to Atalla (Details) - USD ($) $ in Millions | Nov. 05, 2018 | May 18, 2018 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | ||
Non-current assets [Abstract] | |||||||
Goodwill | $ 3,835.4 | $ 6,671.3 | [1] | ||||
Property, plant and equipment | 93.7 | 140.5 | [1] | $ 144.3 | |||
Total non-current assets | 9,605 | 12,846.7 | [1] | ||||
Current liabilities | (1,788.3) | (1,802) | [1] | ||||
Profit on disposal of business [Abstract] | |||||||
Disposal proceeds | 1.3 | 20 | [1] | 0 | [1] | ||
Profit on disposal | $ 0 | $ (3.7) | $ 0 | ||||
Atalla [Member] | |||||||
Net Assets disposed and Profit disposal on business [Abstract] | |||||||
Cash consideration | $ 20 | ||||||
Non-current assets [Abstract] | |||||||
Goodwill | $ 28 | ||||||
Property, plant and equipment | 0.3 | ||||||
Total non-current assets | 28.3 | ||||||
Deferred income | (12) | ||||||
Current liabilities | (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] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Acquisitions, Summary of Acquis
Acquisitions, Summary of Acquisitions (Details) € in Millions, $ in Millions | Oct. 31, 2020USD ($) | Jul. 07, 2020USD ($) | Oct. 31, 2019USD ($) | Feb. 15, 2019USD ($) | Oct. 31, 2018USD ($) | Dec. 01, 2017USD ($) | Dec. 01, 2017EUR (€) | Sep. 01, 2017USD ($) |
Summary of acquisitions [Abstract] | ||||||||
Goodwill | $ 1.4 | $ 26.8 | $ 4,863.9 | |||||
Shares consideration | 0 | 0 | 6,514.2 | |||||
Cash consideration | 7.3 | 89 | 16.7 | |||||
Total consideration | 7.3 | 89 | 6,530.9 | |||||
Carrying Value at Acquisition [Member] | ||||||||
Summary of acquisitions [Abstract] | ||||||||
Net (liabilities)/assets | 0.9 | 0.9 | (2,490.8) | |||||
Fair Value Adjustments [Member] | ||||||||
Summary of acquisitions [Abstract] | ||||||||
Net (liabilities)/assets | 5 | 61.3 | 4,157.7 | |||||
Atar Labs [Member] | ||||||||
Summary of acquisitions [Abstract] | ||||||||
Net (liabilities)/assets | $ 5.9 | |||||||
Goodwill | 1.4 | 1.4 | ||||||
Shares consideration | 0 | |||||||
Cash consideration | 7.3 | 6 | ||||||
Total consideration | 7.3 | 7.3 | ||||||
Atar Labs [Member] | Carrying Value at Acquisition [Member] | ||||||||
Summary of acquisitions [Abstract] | ||||||||
Net (liabilities)/assets | 0.9 | 0.9 | ||||||
Atar Labs [Member] | Fair Value Adjustments [Member] | ||||||||
Summary of acquisitions [Abstract] | ||||||||
Net (liabilities)/assets | $ 5 | $ 5 | ||||||
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 |
Acquisitions, Acquisition of AT
Acquisitions, Acquisition of ATAR Labs (Details) $ in Millions | Oct. 31, 2020USD ($) | Jul. 07, 2020USD ($)Installment | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Goodwill | $ 1.4 | $ 26.8 | $ 4,863.9 | ||
Total consideration | 7.3 | 89 | 6,530.9 | ||
Consideration satisfied by [Abstract] | |||||
Cash | 7.3 | 89 | 16.7 | ||
Total consideration | 7.3 | 89 | 6,530.9 | ||
Carrying Value at Acquisition [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | 0.9 | 0.9 | (2,490.8) | ||
Fair Value Adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | 5 | $ 61.3 | $ 4,157.7 | ||
Atar Labs [Member] | |||||
Acquisition [Abstract] | |||||
Deferred consideration payment, instalments | Installment | 2 | ||||
Carrying value of assets | $ 1.7 | ||||
Carrying value of liability | 0.8 | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets | [1] | 6.6 | |||
Other current assets | 0.1 | ||||
Borrowings | (0.1) | ||||
Provisions - short-term | (0.4) | ||||
Deferred income - short-term | (0.3) | ||||
Net (liabilities)/assets | 5.9 | ||||
Goodwill | 1.4 | 1.4 | |||
Total consideration | 7.3 | 7.3 | |||
Consideration satisfied by [Abstract] | |||||
Cash | 7.3 | 6 | |||
Deferred consideration to be settled in cash | 1.3 | ||||
Total consideration | 7.3 | 7.3 | |||
Atar Labs [Member] | Carrying Value at Acquisition [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets | 1.6 | ||||
Other current assets | 0.1 | ||||
Borrowings | (0.1) | ||||
Provisions - short-term | (0.4) | ||||
Deferred income - short-term | (0.3) | ||||
Net (liabilities)/assets | 0.9 | 0.9 | |||
Atar Labs [Member] | Fair Value Adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets | 5 | ||||
Other current assets | 0 | ||||
Borrowings | 0 | ||||
Provisions - short-term | 0 | ||||
Deferred income - short-term | 0 | ||||
Net (liabilities)/assets | $ 5 | $ 5 | |||
[1] | Purchased intangible assets of $6.6 million have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of ArcSight. |
Acquisitions, Acquisition of In
Acquisitions, Acquisition of Interset Software Inc (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Oct. 31, 2019 | Feb. 15, 2019 | Oct. 31, 2018 | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Goodwill | $ 1.4 | $ 26.8 | $ 4,863.9 | ||
Consideration | 7.3 | 89 | 6,530.9 | ||
Consideration satisfied by [Abstract] | |||||
Cash | 7.3 | 89 | 16.7 | ||
Carrying Value at Acquisition [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | 0.9 | 0.9 | (2,490.8) | ||
Fair Value Adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | $ 5 | 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 | ||||
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] | Purchased intangible assets of $61.2 million ($44.5 million Technology, $4.2 million Trade names, $12.5 million Customer Relationships) have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Interset. | ||||
[2] | Deferred income has been valued taking account of the remaining performance obligations. |
Acquisitions, Acquisition of HP
Acquisitions, Acquisition of HPE Software Business (Details) - USD ($) $ in Millions | Sep. 01, 2017 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Goodwill | $ 1.4 | $ 26.8 | $ 4,863.9 | |
Consideration | 7.3 | 89 | 6,530.9 | |
Consideration satisfied by [Abstract] | ||||
Shares | 0 | 0 | 6,514.2 | |
Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | 0.9 | 0.9 | (2,490.8) | |
Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | $ 5 | $ 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 | 58 | |||
Long-term deferred income | 8.7 | |||
Long-term provisions | 0 | |||
Retirement benefit obligations | 0 | |||
Other non-current liabilities | 12.1 | |||
Deferred tax liabilities | (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 |
Acquisitions, Acquisition of CO
Acquisitions, Acquisition of COBOL-IT, SAS (Details) € in Millions, $ in Millions | Oct. 31, 2020USD ($) | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) | Dec. 01, 2017USD ($) | Dec. 01, 2017EUR (€) |
Acquisition [Abstract] | |||||
Consideration | $ 7.3 | $ 89 | $ 6,530.9 | ||
Goodwill | $ 1.4 | $ 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 ($)Employee | Oct. 31, 2020USD ($) | Oct. 31, 2019USD ($) | Oct. 31, 2018USD ($) |
Acquisition [Abstract] | ||||
Cash payment for acquisition | $ 7.3 | $ 89 | $ 16.7 | |
Covertix [Member] | ||||
Acquisition [Abstract] | ||||
Cash payment for acquisition | $ 2.5 | |||
Number of employees involved in R&D activities | Employee | 7 |
Cash Flow Statement (Details)
Cash Flow Statement (Details) - USD ($) $ in Millions | 12 Months Ended | 18 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |||
Cash flows from operating activities [Abstract] | |||||
(Loss)/profit from continuing operations | $ (2,974.6) | $ (18.1) | [1] | $ 707.2 | [2] |
Profit from discontinued operation | 5.1 | 1,487.2 | [1] | 76.9 | [2] |
Profit/(loss) for the period | (2,969.5) | 1,469.1 | [1] | 784.1 | [2] |
Adjustments for [Abstract] | |||||
Loss/(gain) on disposal of discontinued operation | 3 | (1,767.9) | 0 | ||
Net finance costs | 279 | 255.8 | 342.7 | ||
Taxation - continuing operations | 34.2 | (16) | (673.1) | ||
Taxation - discontinued operation | (8.1) | 318.1 | 34.2 | ||
Share of results of associates | 0 | 0.3 | 1.8 | ||
Operating (loss)/profit | (2,661.4) | 259.4 | 489.7 | ||
- continuing operations | (2,661.4) | 221.7 | 376.8 | ||
- discontinued operation | 0 | 37.7 | 112.9 | ||
Goodwill impairment charge | 2,799.2 | 0 | 0 | ||
Research and development tax credits | (1.8) | (1.2) | (2) | ||
Depreciation of property, plant and equipment | 42 | 52.6 | [3] | 71.2 | |
Depreciation of right-of-use asset (2019 and 2018: finance lease depreciation) | 76.9 | 13.9 | [3] | 17.4 | [3] |
Loss on disposal of property, plant and equipment | 5.6 | 3.6 | 4.7 | ||
Loss on disposal of intangible assets | 0.6 | 0 | 0 | ||
Gain on disposal of Atalla | 0 | (3.7) | 0 | ||
Amortization of intangible assets | 674.1 | 716.5 | 943.3 | ||
Amortization of contract-related costs | 16.1 | 10.2 | 0 | ||
Leases impairment | 5.9 | 0 | 0 | ||
Share-based compensation charge | 17 | 71.3 | 72.2 | ||
Foreign exchange movements | 29.7 | 11.1 | (34.6) | ||
Provisions movements | 46.3 | 43.8 | 142.8 | ||
Depreciation | 66.5 | ||||
Changes in working capital [Abstract] | |||||
Inventories | 0.1 | 0 | 0.1 | ||
Trade and other receivables | 262 | 183 | (408.8) | ||
Increase in contract-related costs | (26.5) | (36.7) | 0 | ||
Payables and other liabilities | (69.8) | (114.8) | 131.3 | ||
Provision utilization | (37.5) | (58.6) | (145) | ||
Contract liabilities - deferred income | (103.1) | (98.5) | 131.4 | ||
Pension funding difference to operating profit charge | 7.4 | 4.4 | 4 | ||
Cash generated from operations | $ 1,082.8 | $ 1,056.3 | [4] | $ 1,424.3 | [4] |
[1] | In accordance with the requirements of IFRS 16 "Leases" the results for the 12 months ended October 31, 2019 have not been restated. | ||||
[2] | In accordance with the requirements of IFRS 16 "Leases" the results for the 18 months ended October 31, 2018 have not been restated. | ||||
[3] | As a result of the adoption of IFRS 16, depreciation in the 12 months ended October 31, 2019 of $66.5 million has been represented as property, plant and equipment depreciation of $52.6 million and right-of-use asset depreciation of $13.9 million. The comparative of $13.9 million in the 12 months ended October 31, 2019 and $17.4m in the 18 months ended October 31, 2018 relates to assets classified as property, plant and equipment that were held under a finance lease. | ||||
[4] | In accordance with the requirements of IFRS 16 "Leases" the comparative amounts have not been restated. |
Related undertakings (Details)
Related undertakings (Details) | 12 Months Ended | 18 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | 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 | In liquidation | |||
Registered office address | 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 address | 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 | In liquidation | |||
Registered office address | 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 | In liquidation | |||
Registered office address | 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 | In liquidation | |||
Registered office address | 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 | In liquidation | |||
Registered office address | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Micro Focus Australia Pty Ltd [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 address | 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 address | 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 | In liquidation | |||
Registered office address | Level 8, 76 Berry Street, North Sydney, NSW 2060, Australia | |||
Micro Focus Austria GmbH (formerly 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 address | 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 address | Officenter, Luchthavenlaan 27, 1800 Vilvoorde, Belgium | |||
Micro Focus Belgium BV [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 address | Officenter, Luchthavenlaan 27, 1800 Vilvoorde, Belgium | |||
Micro Focus Srl [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 address | 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 address | Rua Joaquim Floriano, 466-12 Andar, Saõ 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 address | Rua Joaquim Floriano, 466-12 Andar, Saõ Paulo, CEP 04534-002, Brazil | |||
Micro Focus 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 address | Rua Joaquim Floriano, 466-12 Andar, Saõ 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 address | Rua Joaquim Floriano, 466-12 Andar, Saõ Paulo, CEP 04534-002, Brazil | |||
Peregrinne Systems 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 address | 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 address | Rua Joaquim Floriano, 466-12 Andar, Saõ Paulo, CEP 04534-002, 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 address | Estera Corporate Services (BVI) Limited, Jayla Place Wickhams Cay 1, Road Town, Tortola, Virgin Islands, British | |||
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 address | 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria | |||
Micro Focus 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 address | 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, 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 address | 200-204 Lambert Street, Whitehorse, Y1A 3T2, Canada | |||
GWAVA ULC [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 address | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, 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 address | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |||
Interset Software 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 address | 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 address | 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. [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 address | Cogswell Tower, 2000 Barrington Street, Suite 1101-C., Halifax NS B3J 3K1 , 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 address | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |||
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 address | 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 address | 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 L Ordinary Shares US$0.00001 Class B Ordinary Shares US$0.00001 Class C Ordinary Shares US$0.00001 | ||
Principal activities | Dormant | |||
Registered office address | 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 address | 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 address | 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 address | Unit 601, Block A, Yuanyang International Center, Building 56, Dong Si Huan Zhong Dong Road, Beijing, Chaoyang District, China | |||
Shanghai Micro Focus Software Technology Co. Limited (formerly 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 address | Floor 2, Building 1, No. 799 Naxian Road, Pilot Free Trade Zone, Shanghai, China | |||
Shanghai Micro Focus Software Technology Co. Limited (formerly 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 address | 8 Guangshun Avenue South, B01, 3F, Building 1, Chaoyang District, China | |||
Shanghai Micro Focus Software Technology Co. Limited (formerly 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 address | No. 209, Chuangxin Plaza, No. 5 Keyuanyi Road, Jiulongpo District, Chongqing, China | |||
Shanghai Micro Focus Software Technology Co. Limited( formerly 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 address | 14/F, Office 1436, Times Financial Center, 4001 Shennan Avenue, Futian District, Shenzhen, Guangdong, 518046, China | |||
Shanghai Micro Focus Software Technology Co. Limited( formerly Shanghai Entco Software Technology Co., Limited), Shangdong Branch [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | China | |||
Class(es) of shares held | [1],[2] | Branch | ||
Principal activities | Sales and support of software | |||
Registered office address | 1807-1811, 18th Floor, Kechuang Building, interchange of Yingxiong Mountain Road and 2nd Ring South Rd, Shizhong District, Jinan, Shangdong, 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 address | Room 810, 8 /F, Tower B, No.8 Century Avenue, Shanghai Pilot Free Trade Zone, 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 address | Unit 04, B01,3rd Floor, 101 1st Floor, No.1 building, No.8 Yard Guangshun South Avenue, Chaoyang District, Beijing, China | |||
Micro Focus CentroAmerica CAC Limiteda [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 address | 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 [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 address | 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 address | 54 Digeni Akrita, Akritas 2nd Floor, Office 201-202, PC 1061, Nicosia, Cyprus | |||
Micro Focus 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 address | Za Brumlovkou 1559/5, Michle, Prague, 140 00, 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 address | Borupvang 3, 2750, Ballerup, Denmark | |||
Micro Focus Software 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 address | Borupvang 3, 2750, Ballerup, Denmark | |||
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 address | Accountor Turku Oy, Yliopistonkatu 34,5 krs, Turku FI-20100 | |||
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 address | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, 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 address | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris, 92911, France | |||
Micro Focus 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 address | Tour Carpe Diem, 31 Place des Corolles, 92400, Courbevoie, 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 address | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, 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 address | Herrenberger Strasse 140, 71034, Böblinge, 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 address | Herrenberger Strasse 140, 71034, Böblinge, 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 address | Von-Braun-Strabe 38a, 48683 Ahaus, Germany | |||
Micro Focus 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 address | Herrenberger Strasse 140, 71034, Böblinge, 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 address | Herrenberger Strasse 140, 71034, Böblinge, 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 address | Herrenberger Strasse 140, 71034, Böblinge, 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 address | Nöerdlicher Zubringer 9-11, 40470 Düsseldorf, Germany | |||
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 | In liquidation | |||
Registered office address | 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 | In liquidation | |||
Registered office address | 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 address | 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 address | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |||
Micro Focus Software HK 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 address | 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 | In liquidation | |||
Registered office address | 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 address | 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 address | 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 address | 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 address | 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 | In liquidation | |||
Registered office address | 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 address | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasasdraa Post, Bangalore 560093, India | |||
Micro Focus Software Solutions 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 address | 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 | In liquidation | |||
Registered office address | 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 | In liquidation | |||
Registered office address | 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 address | Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, 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 address | Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, 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 address | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus (Ireland 1) 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 | In liquidation | |||
Registered office address | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus (Ireland 2) 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 | In liquidation | |||
Registered office address | 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 | In liquidation | |||
Registered office address | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus 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 address | Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, 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 address | 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 address | 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 address | 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 address | Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland | |||
Micro Focus Software Solutions 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 address | Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, 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 address | Block A, Ballybrit Business Park, Ballybane Road, Galway, H01 WP08, 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 address | 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 address | 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 address | 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 | In liquidation | |||
Registered office address | 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 address | One Spencer Dock, North Wall Quay, Dublin 1, Ireland | |||
Micro Focus Interactive Israel Ltd [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 address | 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 address | Matam Advanced Tech Center, Building 5/1, Haifa, 31 905, Israel | |||
Micro Focus Software Israel 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 | Sale and support of software | |||
Registered office address | 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 address | 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 | Dormant | |||
Registered office address | 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] | Quota €10,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office address | Via Filippo Turati 8, 20121, Milan, Italy | |||
Micro Focus Italiana S.r.l. [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Italy | |||
Class(es) of shares held | [1],[2] | Quota €1,000,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office address | 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] | Quota €1200,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office address | 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 address | 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] | Quota €25,000.00 | ||
Principal activities | Sale and support of software | |||
Registered office address | 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 address | 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 address | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Micro Focus LLC [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 address | 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 | |||
Class(es) of shares held | [1],[2] | Common Stock | ||
Principal activities | Sale and support of software | |||
Registered office address | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Ownership Percentage [Abstract] | ||||
Ownership percentage in subsidiary | 100.00% | 84.24% | 81.05% | |
Serena Software Japan LLC [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 address | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6219, Japan | |||
Micro Focus 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 | ||
Principal activities | Sale and support of software | |||
Registered office address | 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 address | 15, Boulevard F.W. Raiffeisen, L - 2411, Luxembourg | |||
Micro Focus 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 address | 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 address | Unit 501 Level 5 Uptown 1, 1 Jalan SS2, Selangor Darul Ehsan, Malaysia | |||
Micro Focus International 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 address | 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 address | Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico | |||
Micro Focus 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 address | Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico | |||
Micro Focus Software Solutions 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 address | Av. Periférico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, Jalisco, CP 45610, Mexico | |||
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 address | 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 address | 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 address | 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 address | 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 address | 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 address | 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 address | 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 address | 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 address | 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 address | 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Caribe 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 | Sale and support of software | |||
Registered office address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus Holding PR 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | Van Deventerlaan 31-51, 3528 AG Utrecht, The Netherlands | |||
Micro Focus 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 address | 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 address | 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 address | Level 26, PWC Tower, 15 Customs Street West, 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 address | 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 address | 2/F Three World Square, Upper Mckinley Road, Taguig City, Philippines | |||
Micro Focus 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 address | 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 address | 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 address | Centro Empresarial Torres de Lisboa, Rua Tomás da Fonseca, Torre G, 1.º, 1600-209 Lisbon, Portugal | |||
Micro Focus Caribe Holding B.V. LLC Branch [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 address | 110 Highway North Km. 28, Bldg. #1, Aguadilla, 00603, Puerto Rico | |||
Micro Focus Holding PR B.V. LLC Branch [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 address | 350 Chardon Avenue, Chardon Tower, Suite 801, San Juan, 00918, Puerto Rico | |||
Micro Focus 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 address | 2nd District, 3 George Constantinescu Street, BOC Office Building, Bucharest, Romania | |||
Limited Liability Company Micro Focus [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 address | 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 address | Regus Al-Nakheel Centre, Nimr Building A (1st Floor), 5176 Al-Imam Saud Ibn Abdul Aziz Road, Al Nakheel District, 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 address | #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 address | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, 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 address | #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 address | 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 address | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, 098633, 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 address | #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 address | 78 Sophia Street, Fairland, 2195, South Africa | |||
Micro Focus 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 address | 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 address | Morning View Office Park 255 Rivonia Road, Morningside, South Africa | |||
Micro Focus Korea Limited [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | South Korea | |||
Class(es) of shares held | [1],[2] | Units KRW 5,000 | ||
Principal activities | Sale and support of software | |||
Registered office address | Yeoidodong, SK Building, 15F, 31 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, Korea | |||
Micro Focus 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 address | Torre Espacio, Planta 16, Paseo de la Castellana, 259D, 28046 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 address | Torre Espacio, Planta 16, Paseo de la Castellana, 259D, 28046 Madrid, Spain | |||
Micro Focus 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 address | Torre Espacio, Planta 16, Paseo de la Castellana, 259D, 28046 Madrid, 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 address | Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden | |||
Micro Focus 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 address | 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 address | 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 address | Wallisellen Business Park, Offices 201-204, Richtistrasse 7, 8304, Wallisellen, Switzerland | |||
Micro Focus International Suisse 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 address | Chemin Jean-Baptiste Vandelle 3A, 1290 Versoix, Switzerland | |||
Micro Focus 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 address | Wallisellen Business Park, Offices 201-204, Richtistrasse 7, 8304, Wallisellen, 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 address | C/O Centralis Switzerland GmbH, Bahnhofstrasse 10, 6300 Zug, 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 address | 10F.-1 No.66, Jing Mao 2nd Road, Nangang Distric, Taipei City, 115, Taiwan | |||
Micro Focus Taiwan Co. Ltd (formerly 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 address | 9F No 200, Sec. 1, Keelung Road, Xinyl Dist, Taipei City 110, 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 address | ZI Chotrana, Technopole El Ghazala, Lot No 45, Ariana, 2088, Tunisia | |||
Atarlabs Biliim Anonim Irketi [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | Turkey | |||
Class(es) of shares held | [1],[2] | Group A Shares TRY1.0 | ||
Principal activities | Development and support of software | |||
Registered office address | Üniversiteler Mahallesi 1605 Cad. No: 3A, Çankaya, Ankara, Turkey | |||
Micro Focus 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 address | AND Plaza Kozyatağa İçerenköy Mahallesi Umut Sk. 10/12, Kat: 16 34752 Ataşehir/İstanbul, Turkey | |||
Micro Focus Ukraine, LLC (formerly Serena Software Ukraine LLC) | ||||
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 address | 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 address | 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 address | 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 address | 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 | In liquidation | |||
Registered office address | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
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 address | 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
Micro Focus 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 address | Cain Road, Amen Corner, Bracknell, Berkshire, RG12 1HN, United Kingdom | |||
Micro Focus Global 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 | In liquidation | |||
Registered office address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
Micro Focus 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 address | 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
Micro Focus Software Holdings 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
Micro Focus Software 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 address | 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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 | In liquidation | |||
Registered office address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, RG14 1QN, United Kingdom | |||
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 address | C T Corporation System, 711 Capitol Way S, Suite 204, Olympia 98501, United States | |||
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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA | |||
MA FinanceCo., LLC [Member] | ||||
Details of Investments in Subsidiaries [Abstract] | ||||
Country of incorporation | United States | |||
Class(es) of shares held | [1],[2] | Membership Units | ||
Principal activities | Holding Company | |||
Registered office address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA | |||
Micro Focus 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA | |||
Micro Focus 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA | |||
Micro Focus 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA | |||
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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, 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 address | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE19801, USA | |||
[1] | The Group has a 100% equity ownership interest in each of the subsidiary undertakings. | |||
[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. |