Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | RELX PLC |
Entity Central Index Key | 0000929869 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,931,782,622 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Interactive Data Current | Yes |
Entity File Number | 1-13334 |
Entity Incorporation, State or Country Code | X0 |
Entity Address, Address Line One | 1-3 Strand |
Entity Address, City or Town | London |
Entity Address, Country | GB |
Entity Address, Postal Zip Code | WC2N 5JR |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Registration Statement | false |
American Depositary Shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares (each representing one RELX PLC ordinary share) |
Security Exchange Name | NYSE |
Trading Symbol | RELX |
Ordinary shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares |
Security Exchange Name | NYSE |
Trading Symbol | RELX |
3.500% Guaranteed Notes due 2023 [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.500% Guaranteed Notes due 2023 |
Security Exchange Name | NYSE |
Trading Symbol | RELX/23 |
1.300% Guaranteed Notes due 2025 | |
Document Information [Line Items] | |
Title of 12(b) Security | 1.300% Guaranteed Notes due 2025 |
Security Exchange Name | NYSE |
Trading Symbol | RELX/25 |
4.000% Guaranteed Notes due 2029 [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | 4.000% Guaranteed Notes due 2029 |
Security Exchange Name | NYSE |
Trading Symbol | RELX/29 |
Business contact [member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | Company Secretary |
Entity Address, City or Town | London |
Entity Address, Country | GB |
Entity Address, Postal Zip Code | WC2N 5JR |
Contact Personnel Name | Henry Udow |
Entity Address, Address Line Two | RELX PLC |
Entity Address, Address Line Three | 1-3 Strand |
Contact Personnel Fax Number | 011 44 20 7166 5500 |
Contact Personnel Email Address | henry.udow@relx.com |
Consolidated Income Statement
Consolidated Income Statement - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | |||
Revenue | £ 7,874 | £ 7,492 | £ 7,341 |
Cost of sales | (2,755) | (2,644) | (2,628) |
Gross profit | 5,119 | 4,848 | 4,713 |
Selling and distribution costs | (1,292) | (1,191) | (1,163) |
Administration and other expenses | (1,767) | (1,725) | (1,682) |
Share of results of joint ventures | 41 | 32 | 37 |
Operating profit | 2,101 | 1,964 | 1,905 |
Finance income | 9 | 6 | 6 |
Finance costs | (314) | (217) | (205) |
Net finance costs | (305) | (211) | (199) |
Disposals and other non-operating items | 51 | (33) | 15 |
Profit before tax | 1,847 | 1,720 | 1,721 |
Current tax | (382) | (297) | (439) |
Deferred tax | 44 | 5 | 374 |
Tax expense | (338) | (292) | (65) |
Net profit for the year | 1,509 | 1,428 | 1,656 |
Attributable to: | |||
RELX PLC shareholders | 1,505 | 1,422 | 1,648 |
Non-controlling interests | 4 | 6 | 8 |
Net profit for the year | £ 1,509 | £ 1,428 | £ 1,656 |
Basic earnings per share | |||
Basic earnings per share | £ 0.774 | £ 0.719 | £ 0.816 |
Diluted earnings per share | |||
Diluted earnings per share | £ 0.769 | £ 0.714 | £ 0.810 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Comprehensive Income [Abstract] | |||
Net profit for the year | £ 1,509 | £ 1,428 | £ 1,656 |
Items that will not be reclassified to profit or loss: | |||
Actuarial (losses)/gains on defined benefit pension schemes | (137) | (91) | 233 |
Tax on items that will not be reclassified to profit or loss | 23 | 15 | (59) |
Total items that will not be reclassified to profit or loss | (114) | (76) | 174 |
Items that may be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | (82) | 207 | (507) |
Fair value movements on cash flow hedges | 16 | (59) | 137 |
Transfer to net profit from cash flow hedge reserve | 35 | 17 | 25 |
Tax on items that may be reclassified to profit or loss | (8) | 9 | (30) |
Total items that may be reclassified to profit or loss | (39) | 174 | (375) |
Other comprehensive income/(loss) for the year | (153) | 98 | (201) |
Total comprehensive income for the year | 1,356 | 1,526 | 1,455 |
Attributable to: | |||
RELX PLC shareholders | 1,352 | 1,520 | 1,447 |
Non-controlling interests | 4 | 6 | 8 |
Total comprehensive income for the year | £ 1,356 | £ 1,526 | £ 1,455 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Cash generated from operations | £ 2,724 | £ 2,555 | £ 2,526 |
Interest paid (including lease interest) | (175) | (179) | (169) |
Interest received | 4 | 24 | 6 |
Tax paid (net) | (464) | (415) | (449) |
Net cash from operating activities | 2,089 | 1,985 | 1,914 |
Cash flows from investing activities | |||
Acquisitions | (423) | (935) | (131) |
Purchases of property, plant and equipment | (47) | (56) | (51) |
Expenditure on internally developed intangible assets | (333) | (306) | (303) |
Purchase of investments | (8) | (13) | (10) |
Proceeds from disposals of property, plant and equipment | 2 | 4 | 1 |
Gross proceeds from business disposals | 82 | 34 | 84 |
Payments on business disposals | (40) | (29) | (43) |
Dividends received from joint ventures | 34 | 30 | 38 |
Net cash used in investing activities | (733) | (1,271) | (415) |
Cash flows from financing activities | |||
Dividends paid to shareholders | (842) | (796) | (762) |
Distributions to non-controlling interests | (9) | (8) | (10) |
Increase/(decrease) in short-term bank loans, overdrafts and commercial paper | 98 | 147 | (148) |
Issuance of term debt | 729 | 958 | 873 |
Repayment of term debt | (617) | (211) | (712) |
Repayment of leases | (102) | (95) | (89) |
Receipts in respect of subleases | 16 | 14 | 11 |
Disposal of non-controlling interest | 6 | ||
Repurchase of ordinary shares | (600) | (700) | (700) |
Purchase of shares by Employee Benefit Trust | (37) | (43) | (39) |
Proceeds on issue of ordinary shares | 29 | 21 | 32 |
Net cash used in financing activities | (1,329) | (713) | (1,544) |
Increase/(decrease) in cash and cash equivalents | 27 | 1 | (45) |
Movement in cash and cash equivalents | |||
At start of year | 114 | 111 | 162 |
Increase/(decrease) in cash and cash equivalents | 27 | 1 | (45) |
Exchange translation differences | (3) | 2 | (6) |
At end of year | £ 138 | £ 114 | £ 111 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Non-current assets | ||
Goodwill | £ 6,824 | £ 6,899 |
Intangible assets | 3,452 | 3,534 |
Investments in joint ventures | 118 | 104 |
Other investments | 133 | 151 |
Property, plant and equipment | 180 | 198 |
Right of use assets | 264 | 263 |
Other receivables | 31 | |
Deferred tax assets | 239 | 455 |
Net pension assets | 45 | 6 |
Derivative financial instruments | 58 | 37 |
Non-current assets | 11,344 | 11,647 |
Current assets | ||
Inventories and pre-publication costs | 217 | 212 |
Trade and other receivables | 2,067 | 2,015 |
Derivative financial instruments | 23 | 10 |
Cash and cash equivalents | 138 | 114 |
Current assets | 2,445 | 2,351 |
Assets held for sale | 1 | |
Total assets | 13,789 | 13,999 |
Current liabilities | ||
Trade and other payables | 3,479 | 3,432 |
Derivative financial instruments | 24 | 32 |
Borrowings | 2,060 | 1,392 |
Taxation | 372 | 450 |
Provisions | 12 | 15 |
Current liabilities | 5,947 | 5,321 |
Non-current liabilities | ||
Derivative financial instruments | 10 | 37 |
Borrowings | 4,354 | 4,973 |
Deferred tax liabilities | 593 | 830 |
Net pension obligations | 565 | 439 |
Other payables | 108 | |
Provisions | 22 | 36 |
Non-current liabilities | 5,652 | 6,315 |
Liabilities associated with assets held for sale | 4 | |
Total liabilities | 11,599 | 11,640 |
Net assets | 2,190 | 2,359 |
Capital and reserves | ||
Share capital | 286 | 290 |
Share premium | 1,443 | 1,415 |
Shares held in treasury | (834) | (734) |
Translation reserve | 292 | 374 |
Other reserves | 979 | 984 |
Shareholders’ equity | 2,166 | 2,329 |
Non-controlling interests | 24 | 30 |
Total equity | £ 2,190 | £ 2,359 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - GBP (£) £ in Millions | Total | Share capital [member] | Share premium [member] | Shares held in treasury [member] | Translation reserve [member] | Other reserves [member] | Shareholders' equity [member] | Non-controlling interests [member] |
Equity at beginning of period at Dec. 31, 2016 | £ 2,308 | £ 226 | £ 3,003 | £ (1,471) | £ 727 | £ (215) | £ 2,270 | £ 38 |
Total comprehensive income for the year | 1,455 | 0 | 0 | 0 | (507) | 1,954 | 1,447 | 8 |
Dividends paid | (772) | 0 | 0 | 0 | 0 | (762) | (762) | (10) |
Issue of ordinary shares, net of expenses | 32 | 0 | 32 | 0 | 0 | 0 | 32 | 0 |
Repurchase of ordinary shares | (737) | 0 | 0 | (737) | 0 | 0 | (737) | 0 |
Cancellation of shares | 0 | (4) | 0 | 570 | 0 | (566) | 0 | 0 |
Increase in share based remuneration reserve (net of tax) | 42 | 0 | 0 | 0 | 0 | 42 | 42 | 0 |
Settlement of share awards | 0 | 0 | 0 | 37 | 0 | (37) | 0 | 0 |
Acquisitions | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
Disposal of business | (15) | 0 | 0 | 0 | 0 | 0 | 0 | (15) |
Exchange differences on translation of capital and reserves | (1) | 2 | 69 | (30) | (50) | 9 | 0 | (1) |
Equity at end of period at Dec. 31, 2017 | 2,313 | 224 | 3,104 | (1,631) | 170 | 425 | 2,292 | 21 |
Total comprehensive income for the year | 1,526 | 0 | 0 | 0 | 207 | 1,313 | 1,520 | 6 |
Dividends paid | (804) | 0 | 0 | 0 | 0 | (796) | (796) | (8) |
Issue of ordinary shares, net of expenses | 21 | 134 | 114 | 0 | 0 | (227) | 21 | 0 |
Repurchase of ordinary shares | (743) | 0 | 0 | (743) | 0 | 0 | (743) | 0 |
Cancellation of shares | 0 | (68) | (1,795) | 1,601 | 0 | 262 | 0 | 0 |
Increase in share based remuneration reserve (net of tax) | 35 | 0 | 0 | 0 | 0 | 35 | 35 | 0 |
Settlement of share awards | 0 | 0 | 0 | 35 | 0 | (35) | 0 | 0 |
Acquisitions | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 11 |
Exchange differences on translation of capital and reserves | 0 | 0 | (8) | 4 | (3) | 7 | 0 | 0 |
Equity at end of period at Dec. 31, 2018 | 2,359 | 290 | 1,415 | (734) | 374 | 984 | 2,329 | 30 |
Total comprehensive income for the year | 1,356 | 0 | 0 | 0 | (82) | 1,434 | 1,352 | 4 |
Dividends paid | (851) | 0 | 0 | 0 | 0 | (842) | (842) | (9) |
Issue of ordinary shares, net of expenses | 29 | 1 | 28 | 0 | 0 | 0 | 29 | 0 |
Repurchase of ordinary shares | (637) | 0 | 0 | (637) | 0 | 0 | (637) | 0 |
Bonus issue of ordinary share | 0 | 4,000 | 0 | 0 | 0 | (4,000) | 0 | 0 |
Cancellation of bonus share | 0 | (4,000) | 0 | 0 | 0 | 4,000 | 0 | 0 |
Cancellation of shares | 0 | (5) | 0 | 504 | 0 | (499) | 0 | 0 |
Increase in share based remuneration reserve (net of tax) | 33 | 0 | 0 | 0 | 0 | 33 | 33 | 0 |
Settlement of share awards | 0 | 0 | 0 | 33 | 0 | (33) | 0 | 0 |
Acquisitions | (1) | 0 | 0 | 0 | 0 | 0 | 0 | (1) |
Disposal of business | 6 | 0 | 0 | 0 | 0 | 5 | 5 | 1 |
Put option | (103) | 0 | 0 | 0 | 0 | (103) | (103) | 0 |
Exchange differences on translation of capital and reserves | (1) | 0 | 0 | 0 | 0 | 0 | 0 | (1) |
Equity at end of period at Dec. 31, 2019 | £ 2,190 | £ 286 | £ 1,443 | £ (834) | £ 292 | £ 979 | £ 2,166 | £ 24 |
Basis of preparation and accoun
Basis of preparation and accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
Significant Accounting Policies [Abstract] | |
Basis of preparation and accounting policies | 1 Basis of preparation and accounting policies Basis of preparation The shares of RELX PLC are traded on the London, Amsterdam and New York stock exchanges. RELX PLC and its subsidiaries, joint ventures and associates are together known as ‘RELX’. In preparing the consolidated financial statements, subsidiaries are accounted for under the acquisition method and investments in associates and joint ventures are accounted for under the equity method. All intra-group transactions and balances are eliminated. On acquisition of a subsidiary, or interest in an associate or joint venture, fair values, reflecting conditions at the date of acquisition, are attributed to the net assets, including identifiable intangible assets acquired. Adjustments are made to bring accounting policies into line with those of the Group. The results of subsidiaries sold or acquired are included in the consolidated financial statements up to or from the date that control passes from or to the Group. Non-controlling interests in the net assets of the Group are identified separately from shareholders’ equity. Non-controlling interests consist of the amount of those interests at the date of the original acquisition and the non-controlling share of changes in equity since the date of acquisition. The Directors of RELX PLC, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the consolidated financial statements for the year ended 31 December 2019. Accounting policies The Group’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and as issued by the International Accounting Standards Board (IASB). The accounting policies under IFRS are included in the relevant notes to the consolidated financial statements. The accounting policies below are applied throughout the financial statements and are unchanged from those applied in preparing the consolidated financial statements for the year ended 31 December 2018. Foreign exchange translation The consolidated financial statements are presented in sterling. Transactions in foreign currencies are recorded at the rate of exchange prevailing on the date of the transaction. Non-monetary assets and liabilities that are measured at historical cost in foreign currencies are translated using the exchange rate at the date of the transaction. At each statement of financial position date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rate prevailing on the statement of financial position date. Exchange differences arising are recorded in the income statement other than where hedge accounting applies, as set out on pages 157 to 162. Assets and liabilities of foreign operations are translated at exchange rates prevailing on the statement of financial position date. Income and expense items and cash flows of foreign operations are translated at the average exchange rate for the period. Significant individual items of income and expense and cash flows in foreign operations are translated at the rate prevailing on the date of transaction. Exchange differences arising are classified as equity and transferred to the translation reserve. When foreign operations are disposed of, the related cumulative translation differences are recognised within the income statement in the period. The Group uses derivative financial instruments, primarily forward contracts, to hedge its exposure to certain foreign exchange risks. Details of the Group’s accounting policies in respect of derivative financial instruments are set out on page 157. Critical judgements and key sources of estimation uncertainty The most significant accounting policies in determining the financial condition and results of the Group, and those requiring the most subjective or complex judgement, relate to and are included in the following notes: valuation of goodwill and intangible assets – notes 14 and 15; capitalisation of development spend – note 15; taxation – note 9; and accounting for defined benefit pension schemes – note 6. Other significant accounting policies The accounting policy in respect of revenue recognition is also significant in determining the financial condition and results of the Group. The application of this policy is straightforward, and is included in note 2. 1 Basis of preparation and accounting policies (continued) Standards and amendments effective for the year RELX adopted IFRS 16 Leases for the year ended 31 December 2018, a year earlier than its mandatory effective date. The impact of the adoption of IFRS 16 was reflected in the consolidated financial statements for the year ended 31 December 2018. Other interpretations and amendments to IFRS effective for 2019 have not had a significant impact on the Group’s accounting policies or reporting. Standards, amendments and interpretations not yet effective A number of amendments and interpretations have been issued which are not expected to have any significant impact on the accounting policies and reporting. |
Revenue and segment analysis
Revenue and segment analysis | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Operating Segments [Abstract] | |
Revenue and segment analysis | 2 Revenue and segment analysis Accounting policy The Group’s reported segments are based on the internal reporting structure and financial information provided to the Board. Adjusted operating profit is the key segmental profit measure used by the Group in assessing performance. Adjusted operating profit is reconciled to operating profit on page 137. Revenue arises from the provision of products and services under contracts with customers. In all cases, revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and is recognised when the customer obtains control of the good or service. Revenue is stated at the transaction price, which includes allowance for anticipated discounts and returns and excludes customer sales taxes and other amounts to be collected on behalf of third parties. Where the goods or services promised within a contract are distinct, they are identified as separate performance obligations and are accounted for separately. Where separate performance obligations are identified, total revenue is allocated on the basis of relative stand-alone selling prices or management’s best estimate of relative value where stand-alone selling prices do not exist. Management estimates may include a cost-plus method or comparable product approach, but must be supported by objective evidence. A residual approach may be applied where it is not possible to derive a reliable management estimate for a specific component. Revenue is recognised for the various categories as follows: ◾ Subscriptions – revenue comprises income derived from the periodic distribution or update of a product. Subscription revenue is generally invoiced in advance and recognised systematically over the period of the subscription. Recognition is either on a straight-line basis where the transaction involves the transfer of goods and services to the customer in a consistent manner over a specific period of time; or based on the value received by the customer where the goods and services are not delivered in a consistent manner. ◾ Transactional – revenue is recognised when control of the product is passed to the customer or the service has been performed. For exhibitions, revenue primarily comprises income from exhibitors and attendees at exhibitions. Exhibition revenue is recognised on occurrence of the exhibition. ◾ Advertising – revenue is recognised on publication or over the period of online display. Notes to the consolidated financial statements for the year ended 31 December 2019 2 Revenue and segment analysis (continued) RELX is a global provider of information-based analytics and decision tools for professional and business customers. Operating in four major market segments: Scientific, Technical & Medical provides information and analytics that help institutions and professionals progress science, advance healthcare and improve performance; Risk & Business Analytics provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency; Legal provides legal, regulatory and business information and analytics that helps customers increase their productivity, improve decision-making and achieve better outcomes; and Exhibitions is a leading global events business. It combines face-to-face with data and digital tools to help customers learn about markets, source products and complete transactions. ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m Scientific, Technical & Medical 2,637 2,538 2,473 982 942 914 Risk & Business Analytics 2,316 2,117 2,073 853 776 760 Legal 1,652 1,618 1,686 330 320 328 Exhibitions 1,269 1,219 1,109 331 313 287 Sub-total 7,874 7,492 7,341 2,496 2,351 2,289 Unallocated items — — — (5 ) (5 ) (5 ) Total 7,874 7,492 7,341 2,491 2,346 2,284 2019 Scientific, Technical & Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,182 1,843 1,118 248 4,391 Europe* 635 317 340 508 1,800 Rest of world 820 156 194 513 1,683 Total revenue 2,637 2,316 1,652 1,269 7,874 Revenue by format Electronic 2,214 2,264 1,400 51 5,929 Face-to-face 8 25 9 1,218 1,260 415 27 243 — 685 Total revenue 2,637 2,316 1,652 1,269 7,874 Revenue by type Subscriptions 1,970 872 1,287 — 4,129 Transactional 622 1,428 359 1,269 3,678 Advertising 45 16 6 — 67 Total revenue 2,637 2,316 1,652 1,269 7,874 2 Revenue and segment analysis (continued) * Europe includes revenue of £529m from the UK(2018: £527m; 2017: £521m). 2018 Scientific, Technical & Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,118 1,669 1,083 221 4,091 Europe 611 322 340 535 1,808 Rest of world 809 126 195 463 1,593 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by format Electronic 2,094 2,030 1,338 51 5,513 Face-to-face 7 36 10 1,168 1,221 437 51 270 — 758 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by type Subscriptions 1,877 765 1,247 — 3,889 Transactional 615 1,322 365 1,219 3,521 Advertising 46 30 6 — 82 Total revenue 2,538 2,117 1,618 1,219 7,492 2017 Scientific, Technical & Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,045 1,658 1,145 230 4,078 Europe 617 308 340 429 1,694 Rest of world 811 107 201 450 1,569 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by format Electronic 1,995 1,967 1,384 42 5,388 Face-to-face 10 38 7 1,067 1,122 468 68 295 — 831 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by type Subscriptions 1,776 732 1,291 1 3,800 Transactional 646 1,301 389 1,108 3,444 Advertising 51 40 6 — 97 Total revenue 2,473 2,073 1,686 1,109 7,341 2 Revenue and segment analysis (continued) Around half of RELX’s revenue comes from subscription arrangements, and revenue for these is generally recognised on a straight line basis over the time period covered by the agreement, in line with the provision of services. There are a number of multi-year contracts, mainly in Risk & Business Analytics, where revenue is recognised on the achievement of delivery milestones or other specified performance obligations. As at 31 December 2019, the aggregate amount of the transaction price of such contracts which relates to performance obligations which have not yet been delivered was approximately £162m (2018: £210m). It is expected that revenue will be recognised in relation to this amount over the next nine years. ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2019 £m 2018 £m 2017 £m North America 4,308 4,013 3,998 Europe 2,832 2,790 2,644 Rest of world 734 689 699 Total 7,874 7,492 7,341 Revenue by geographical marked from the United Kingdom in 2019 was £1,320m (201: £1,144m; 2017: £1,085m). ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and Capital expenditure Amortisation of acquired Depreciation and other intangible assets additions intangible assets amortisation 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m Scientific, Technical & Medical 65 106 94 104 100 95 62 58 77 109 109 100 Risk & Business Analytics 47 852 — 96 92 83 170 161 141 89 73 64 Legal 139 30 6 155 145 153 24 33 52 150 147 142 Exhibitions 251 61 33 26 28 24 39 36 44 41 35 37 Total 502 1,049 133 381 365 355 295 288 314 389 364 343 Notes to the consolidated financial statements for the year ended 31 December 2019 2 Revenue and segment analysis (continued) Capital expenditure comprises additions to property, plant and equipment and internally developed intangible assets. Depreciation and other amortisation includes depreciation on right-of-use assets. Amortisation of acquired intangible assets includes amounts in respect of joint ventures of £1m (2018: £1m; 2017: £1m) in Exhibitions. ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION 2019 £m 2018 £m 2017 £m North America 8,365 8,692 7,408 Europe 2,156 1,996 2,016 Rest of world 481 461 459 Total 11,002 11,149 9,883 Non-current assets held in the United Kingdom totalled £1,248m (2018: £988m; 2017: £1,026m). Non-current assets by geographical location exclude amounts relating to deferred tax, pension assets and derivative financial instruments. Operating profit is reconciled to adjusted operating profit as follows: RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2019 £m 2018 £m 2017 £m Operating profit 2,101 1,964 1,905 Adjustments: Amortisation of acquired intangible assets 295 288 314 Acquisition-related costs 84 84 56 Reclassification of tax in joint ventures 12 11 10 Reclassification of finance income in joint ventures (1 ) (1 ) (1 ) Adjusted operating profit 2,491 2,346 2,284 The share of post-tax results of joint ventures of £41m (2018: £32m; 2017: £37m) included in operating profit comprised £3m (2018: nil; 2017: £5m) relating to Legal, £36m (2018: £31m; 2017: £32m) relating to Exhibitions and £2m (2018: £1m; 2017: nil) relating to Risk & Business Analytics. |
Operating profit
Operating profit | 12 Months Ended |
Dec. 31, 2019 | |
Operating Profit [Abstract] | |
Operating profit | 3 Operating profit Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant. Non-market based performance criteria are taken into account when estimating the number of shares expected to vest. The fair value of share based remuneration is determined by use of a binomial or Monte Carlo simulation model as appropriate. All of the Group’s share based remuneration is equity settled. Operating profit is stated after charging/(crediting) the following: Note 2019 £m 2018 £m 2017 £m Staff costs Wages and salaries 2,116 1,959 1,926 Social security costs 230 215 213 Pensions 6 120 135 95 Share based remuneration 32 41 39 Total staff costs 2,498 2,350 2,273 Depreciation and amortisation Amortisation of acquired intangible assets 15 294 287 313 Share of joint ventures’ amortisation of acquired intangible assets 1 1 1 Amortisation of internally developed intangible assets 15 249 225 203 Depreciation of property, plant and equipment 17 58 62 65 Depreciation of right-of-use assets 82 77 75 Total depreciation and amortisation 684 652 657 Other expenses and income Cost of sales including pre-publication costs and inventory expenses 2,755 2,638 2,628 Operating lease rentals expense 20 18 28 Operating lease rentals income (1 ) (3 ) (3 ) The amortisation of acquired intangible assets is included within administration and other expenses. The Group provides a number of share based remuneration schemes to Directors and employees. The principal share based remuneration schemes are the Executive Share Option Schemes (ESOS), the Long-Term Incentive Plan (LTIP), the Retention Share Plan (RSP) and the Bonus Investment Plan (BIP). Share options granted under ESOS are exercisable after three years and up to ten years from the date of grant at a price equivalent to the market value of the respective shares at the date of grant. Conditional shares granted under LTIP, RSP and BIP are exercisable after three years for nil consideration if conditions are met. Other awards principally relate to all employee share based saving schemes in the UK and the Netherlands. Further details are provided in the remuneration report on pages 88 to 111. |
Auditor_s remuneration
Auditor’s remuneration | 12 Months Ended |
Dec. 31, 2019 | |
Auditors Remuneration [Abstract] | |
Auditor’s remuneration | 4 Auditor’s remuneration 2019 £m 2018 £m 2017 £m Auditor’s remuneration Payable to the auditors of RELX PLC 0.8 0.9 0.9 Payable to the auditors of the Group’s subsidiaries 7.4 6.5 5.9 Audit services 8.2 7.4 6.8 Audit-related assurance services 0.6 0.9 0.8 Total audit and audit-related assurance services 8.8 8.3 7.6 Other services: Due diligence and other transaction-related services 0.1 2.7 0.3 Total non-audit related services 0.1 2.7 0.3 Total auditor’s remuneration 8.9 11.0 7.9 Amounts payable to the auditors of the Group’s subsidiaries include amounts for the audit of internal controls over financial reporting in accordance with the US Sarbanes-Oxley Act. Included in audit related assurance services for 2019 are £0.1m in fees for services relating to RELX pension plans (2018: £0.1m). The amounts payable in 2017 to the auditors of RELX PLC also reflect amounts payable to the auditors of RELX NV. The previously reported 2018 fees paid to EY for audit services have been revised to include additional amounts for expenses incurred and final fees for statutory audits which took place subsequent to the audit of the RELX consolidated accounts. |
Personnel
Personnel | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Employees [Abstract] | |
Personnel | 5 Personnel NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2019 2018 2017 2019 2018 2017 Business segment Scientific, Technical & Medical 8,100 7,900 7,500 8,000 7,700 7,500 Risk & Business Analytics 9,100 8,700 8,100 9,000 8,600 8,200 Legal 10,600 10,500 10,600 10,600 10,600 10,700 Exhibitions 4,600 4,200 4,000 4,400 4,100 4,000 Sub-total 32,400 31,300 30,200 31,900 31,000 30,400 Corporate/shared functions 800 800 800 800 800 800 Total 33,200 32,100 31,000 32,800 31,800 31,200 Geographical location North America 14,100 13,800 13,500 14,000 13,700 13,600 Europe 9,500 9,200 9,100 9,400 9,200 9,200 Rest of world 9,600 9,100 8,400 9,400 8,900 8,400 Total 33,200 32,100 31,000 32,800 31,800 31,200 The number of UK full-time equivalents as at 31 December 2019 was 5,400 (2018: 5,200; 2017: 5,000) and the average during the year was 5,300 (2018: 5,100; 2017: 5,000). |
Pension schemes
Pension schemes | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Pension schemes | 6 Pension schemes Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. The expense of defined contribution pension schemes and other employee benefits is charged in the income statement as incurred. Critical judgement and key source of estimation uncertainty At 31 December 2019, the Group operates defined benefit pension schemes in the UK and the US. These schemes require management to exercise judgement in estimating the ultimate cost of providing post-employment benefits, especially given the length of each scheme’s liabilities. Accounting for defined benefit pension schemes involves judgement about uncertain events, including the life expectancy of the members, salary and pension increases, inflation, the future operation of each scheme and the rate at which the future pension payments are discounted. Estimates for these factors are used in determining the pension cost and liabilities reported in the financial statements. The estimates made around future developments of each of the critical assumptions are made in conjunction with independent actuaries, and each scheme is subject to a periodic review by independent actuaries. Information regarding the more significant assumptions used for valuation is provided below, together with a sensitivity analysis. A number of pension schemes are operated around the world. The largest defined benefit schemes as at 31 December 2019 were in the UK and the US, and are summarised below. Major defined benefit schemes in place at 31 December 2019 The UK scheme is a final salary scheme and is closed to new hires. Members accrue a portion of their final pensionable earnings based on the number of years of service. The US scheme is a cash balance scheme and was closed to future accruals effective 1 January 2019. 6 Pension schemes (continued) Each of the major defined benefit schemes is administered by a separate fund that is legally separated from the Group. The trustees of the pension funds in the UK and plan fiduciaries of the US scheme are required by law to act in the interest of the funds’ beneficiaries. In the UK, the trustees of the pension fund are responsible for the investment policy with regard to the assets of the fund. The board of trustees consists of an equal number of company-appointed and member-nominated Directors. In the US, the fiduciary duties for the scheme are allocated between committees which are staffed by senior employees of the Group; the investment committee has the primary responsibility for the investment and management of plan assets. The funding of the Group’s major schemes reflects the different rules within each jurisdiction. In the UK, the level of funding is determined by statutory triennial actuarial valuations in accordance with pensions legislation. Where the scheme falls below 100% funded status, the Group and the scheme trustees must agree on how the deficit is to be remedied. The UK Pensions Regulator has significant powers and sets out in codes and guidance the parameters for scheme funding. As a result of the 2018 triennial valuation, the Group’s remaining deficit funding contributions to the scheme over the period 2020 to 2022 are £132m. The US scheme has an annual statutory valuation which forms the basis for establishing the employer contribution each year (subject to ERISA and IRS minimums). Should the statutory funded status fall to below 100%, the US Pension Protection Act requires the deficit to be rectified with additional contributions over a seven-year period. The US scheme’s funded status is in excess of 100%. Employer cash contributions to defined benefit pension schemes in respect of 2020 are expected to be approximately £58m including a £44m pension deficit funding contribution relating to the UK scheme recovery plan. The pension expense (excluding interest amounts) recognised in the income statement consists of: 2019 £m 2018 £m 2017 £m Defined benefit pension expense 11 47 4 Defined contribution pension expense 109 95 91 Total 120 142 95 £120m (2018 £135m; 2017: £95m) of the total pension cost is recognised within operating profit. The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: 2019 2018 2017 UK £m US £m Total £m UK £m US £m Total £m UK £m US £m Total £m Service cost 21 3 24 27 9 36 33 14 47 Settlement and past service (credits)/cost (8 ) (5 ) (13 ) 11 — 11 (42 ) (1 ) (43 ) Defined benefit pension expense 13 (2 ) 11 38 9 47 (9 ) 13 4 Net interest on net defined benefit obligation 9 3 12 6 3 9 10 5 15 Net defined benefit pension expense 22 1 23 44 12 56 1 18 19 In 2019, the past service credit relates to changes to both the UK and US schemes. In 2018 a past service cost was recognised to account for the impact of GMP equalisation in the UK. In 2017 settlement and past service credits primarily related to changes to the UK scheme.Net interest on net defined benefit pension scheme liabilities is presented within net finance costs in the income statement. The significant valuation assumptions, determined for each major scheme in conjunction with the respective independent actuaries, are presented below. The net defined benefit pension expense for each year is based on the assumptions and scheme valuations set at 31 December of the prior year. AS AT 31 DECEMBER 2019 2018 2017 UK US UK US UK US Discount rate 2.05% 3.25% 2.85 % 4.20 % 2.60 % 3.55 % Inflation 2.95% 2.50% 3.15 % 2.50 % 3.15 % 2.50 % Discount rates are set by reference to high-quality corporate bond yields. Notes to the consolidated financial statements for the year ended 31 December 2019 6 Pension schemes (continued) Mortality assumptions make allowance for future improvements in longevity and have been determined by reference to applicable mortality statistics. The average life expectancy assumptions are set out below: AS AT 31 DECEMBER 2019 Male average life expectancy Female average life expectancy UK US UK US Member currently aged 60 years 85 86 88 88 Member currently aged 45 years 86 87 89 89 The amount recognised in the statement of financial position in respect of defined benefit pension schemes at the start and end of the year and the movements during the year were as follows: 2019 2018 UK £m US £m Total £m UK £m US £m Total £m Defined benefit obligation At start of year (3,772 ) (1,040 ) (4,812 ) (3,854 ) (1,075 ) (4,929 ) Service cost (21 ) (3 ) (24 ) (27 ) (9 ) (36 ) Past service credits/(cost) 8 5 13 (11 ) — (11 ) Interest on pension scheme liabilities (104 ) (42 ) (146 ) (98 ) (38 ) (136 ) Actuarial gain/(loss) on financial assumptions (495 ) (116 ) (611 ) 91 85 176 Actuarial gain/(loss) arising from experience assumptions 22 (5 ) 17 4 2 6 Contributions by employees (9 ) — (9 ) (8 ) — (8 ) Liabilities transferred on settlement — 65 65 — — — Benefits paid 120 77 197 131 56 187 Exchange translation differences — 41 41 — (61 ) (61 ) At end of year (4,251 ) (1,018 ) (5,269 ) (3,772 ) (1,040 ) (4,812 ) Fair value of scheme assets At start of year 3,413 966 4,379 3,589 1,012 4,601 Interest income on plan assets 95 39 134 92 35 127 Return on assets excluding amounts included in interest income 304 166 470 (184 ) (89 ) (273 ) Contributions by employer 66 6 72 39 7 46 Contributions by employees 9 — 9 8 — 8 Assets transferred on settlement — (65 ) (65 ) Benefits paid (120 ) (77 ) (197 ) (131 ) (56 ) (187 ) Exchange translation differences — (40 ) (40 ) — 57 57 At end of year 3,767 995 4,762 3,413 966 4,379 Opening net deficit (359 ) (74 ) (433 ) (265 ) (63 ) (328 ) Service cost (21 ) (3 ) (24 ) (27 ) (9 ) (36 ) Net interest on net defined benefit obligation (9 ) (3 ) (12 ) (6 ) (3 ) (9 ) Settlement and past service credits/(cost) 8 5 13 (11 ) — (11 ) Contributions by employer 66 6 72 39 7 46 Actuarial (losses)/gains (169 ) 45 (124 ) (89 ) (2 ) (91 ) Exchange translation differences — 1 1 — (4 ) (4 ) Net pension obligation (484 ) (23 ) (507 ) (359 ) (74 ) (433 ) Impact of asset ceiling — (13 ) (13 ) — — — Overall net pension obligation (484 ) (36 ) (520 ) (359 ) (74 ) (433 ) As at 31 December 2019, the defined benefit obligations comprised £5,016m (2018: £4,582m) in relation to funded schemes and £253m (2018: £230m) in relation to The weighted average duration of defined benefit scheme liabilities is 19 years in the UK (2018: 19 years) and 13 years in the US (2018: 12 years). Deferred tax assets of £96m (2018: £86m) are recognised in respect of the pension scheme A net pension asset has been recognised in relation to the US funded scheme after considering the guidance in IAS 19 – Employee 6 Pension schemes (continued) Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2019 £m 2018 £m Net pension asset 45 6 Net pension obligation (565 ) (439 ) Overall net pension obligation (520 ) (433 ) Amounts recognised in the statement of comprehensive income are set out below: 2019 £m 2018 £m 2017 £m Gains and losses arising during the year: Experience gains/(losses) on scheme liabilities 17 6 (38 ) Experience gains/(losses) on scheme assets 470 (273 ) 287 Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates (743 ) 242 (102 ) – inflation 142 — 69 – other actuarial assumptions (10 ) (66 ) 17 (124 ) (91 ) 233 Net cumulative losses at start of year (704 ) (613 ) (846 ) Net cumulative losses at end of year (828 ) (704 ) (613 ) Additionally a loss of £13m (2018: nil) is recognised in the statement of comprehensive income in relation to the asset ceiling. The major categories and fair values of scheme assets at the end of the reporting period are as follows: FAIR VALUE OF SCHEME ASSETS 2019 2018 UK £m US £m Total £m UK £m US £m Total £m Equities 1,358 126 1,484 1,128 115 1,243 Liability matching assets 1,414 850 2,264 1,363 831 2,194 Property funds and ground leases 715 — 715 723 — 723 Direct lending 182 — 182 151 — 151 Cash and cash equivalents 75 13 88 26 4 30 Other 32 6 29 22 16 38 Total 3,767 995 4,762 3,413 966 4,379 Included within liability matching assets are government bonds totalling £1,486m (2018: £1,448m). Assets and obligations associated with the schemes are sensitive to changes in the market values of assets and the market-related assumptions used to value scheme liabilities. In particular, adverse changes to asset values, discount rates or inflation could increase future pension costs and funding requirements. Typically, the Group’s schemes are exposed to: investment risks, whereby actual rates of return on plan assets may be below those rates used to determine the defined benefit obligations, and interest rate risks, whereby scheme deficits may increase if bond yields in the UK and the US decline and are not offset by returns in liability matching and other assets. The schemes are also exposed to other risks, such as unanticipated future increases in member longevity patterns and inflation, all potentially leading to an increase in scheme liabilities. Investment policies of each scheme are intended to ensure continuous payment of defined benefit pensions in the short-term and long-term. Efforts are made to limit risks on marketable securities by adopting investment policies that diversify assets across geographies and among equities, liability matching assets, property funds, cash and other assets. Asset allocations are dependent on a variety of factors including the duration of scheme liabilities and the funded position of the plan. All equities and bonds have quoted prices in active markets. Sensitivity analysis The valuation of the Group’s pension scheme liabilities involves significant actuarial assumptions, being the life expectancy of the members, inflation and the rate at which the future pension payments are discounted. Differences arising from actual experience or future changes in assumptions may materially affect future pension charges. In particular, changes in assumptions for discount rates, inflation and life expectancies that are reasonably possible would have the following approximate effects on the defined benefit pension obligations: £m Increase/decrease of 0.25% in discount rate 228 Increase/decrease of 0.25% in the expected inflation rate 105 Increase/decrease of one year in assumed life expectancy 193 The above analysis has been calculated on the same basis used to determine the defined benefit obligation recognised in the statement of financial position. There has been no change in the methods used to prepare the analysis compared with prior years. This sensitivity analysis may not be representative of the actual change in the defined benefit obligation as it is unlikely that changes in the above assumptions would occur in isolation as some of the assumptions may be correlated. |
Net finance costs
Net finance costs | 12 Months Ended |
Dec. 31, 2019 | |
Net Finance Costs [Abstract] | |
Net finance costs | Notes to the consolidated financial statements for the year ended 31 December 2019 7 Net finance costs Accounting policy Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that takes a substantial period of time to bring to use are capitalised. All other interest on borrowings is expensed as incurred. The cost of issuing borrowings is generally expensed over the period of borrowing so as to produce a constant periodic rate of charge. 2019 £m 2018 £m 2017 £m Interest on short-term bank loans, overdrafts and commercial paper (20 ) (22 ) (10 ) Interest on term debt (266 ) (161 ) (154 ) Interest on lease liabilities (15 ) (14 ) (17 ) Total borrowing costs (301 ) (197 ) (181 ) Losses on loans and derivatives not designated as hedges — (10 ) (9 ) Fair value losses on designated fair value hedge relationships — (1 ) — Net financing charge on defined benefit pension schemes (13 ) (9 ) (15 ) Finance costs (314 ) (217 ) (205 ) Interest on bank deposits 3 4 3 Interest income on net finance lease receivables 2 2 2 Fair value gains on designated fair value hedge relationships 1 — 1 Gains on loans and derivatives not designated as hedges 3 — — Finance income 9 6 6 Net finance costs (305 ) (211 ) (199 ) Losses of £1m (2018: losses of £8m; 2017: gains of £63m) on interest rate derivatives designated as cash flow hedges were recognised in other comprehensive income and accumulated in the hedge reserve, and may be reclassified to the income statement in future periods. Gains of ni (2018: gains of £3m; 2017: gains of £65m) in total were transferred from the hedge reserve in the period. The movements in 2017 included gains of £78m The interest charge on term debt includes a charge of £99m in respect of the early redemption of bonds that were due to be repaid in October 2022. The redemption of these bonds took place in January 2020 and was committed to at 31 December 2019. |
Disposals and other non-operati
Disposals and other non-operating items | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |
Disposals and other non-operating items | 8 Disposals and other non-operating items Accounting policy Assets of businesses that are available for immediate sale in their current condition and for which a sales process is considered highly probable to complete are classified as assets held for sale and are carried at the lower of carrying value and fair value less costs to sell. Fair value is based on anticipated disposal proceeds, typically derived from firm or indicative offers from potential acquirers. Non-current assets are not amortised or depreciated following their classification as held for sale. Liabilities of businesses held for sale are also separately classified on the statement of financial position. Fair value movements in the venture capital portfolio are reported within disposals and other items – see note 16. 2019 £m 2018 £m 2017 £m Revaluation of investments 25 (11 ) 5 Gain/(loss) on disposal of businesses and assets held for sale 26 (22 ) 10 Net gain/(loss) on disposals and other non-operating items 51 (33 ) 15 |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2019 | |
Major Components Of Tax Expense Income [Abstract] | |
Taxation | 9 Taxation Accounting policy Tax expense comprises current and deferred tax. Current and deferred tax are charged or credited in the income statement except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside the income statement (either in other comprehensive income, directly in equity, or through a business combination), in which case the tax appears in the same statement as the transaction that gave rise to it. Current tax is the amount of corporate income taxes expected to be payable or recoverable based on the profit for the period as adjusted for items that are not taxable or not deductible, and is calculated using tax rates and laws that were enacted or substantively enacted at the date of the statement of financial position. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Provisions are established where appropriate on the basis of amounts expected to be paid to the tax authorities. Current tax includes amounts provided in respect of uncertain tax positions when management expects that, upon examination of the uncertainty by a tax authority in possession of all relevant knowledge, it is more likely than not that an economic outflow will occur. Changes in facts and circumstances underlying these provisions are reassessed at the date of each statement of financial position, and the provisions are remeasured as required to reflect current information. Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the statement of financial position. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the end of the reporting period, and which are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled. Deferred tax liabilities are generally recognised for all taxable temporary differences but not recognised for taxable temporary differences arising on investments in subsidiaries, associates and joint ventures where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax liabilities are not recognised on temporary differences that arise from goodwill which is not deductible for tax purposes. Deferred tax assets are recognised to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilised, and are reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are not recognised in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. Critical judgement and key source of estimation uncertainty The Group is subject to tax in numerous jurisdictions, giving rise to complex tax issues that require management to exercise judgement in making tax determinations. As a multinational enterprise, our tax returns in the countries in which we operate are subject to tax authority audits as a matter of routine. While the Group is confident that tax returns are appropriately prepared and filed, amounts are provided in respect of uncertain tax positions that reflect the risk with respect to tax matters under active discussion with tax authorities, or which are otherwise considered to involve uncertainty. Provisions against uncertain tax positions are measured using one of the following methods, depending on which of the methods management expects will better predict the amount it will pay over to the tax authority: ◾ The Single Best Estimate – where there is a single outcome that is more likely than not to occur. This will happen, for example, where the tax outcome is binary (such as whether an entity can deduct an item of expenditure) or the range of possible outcomes is narrow or concentrated on a single value. The most likely outcome may be that no tax is expected to be payable, in which case the provision is nil; or ◾ A Probability-Weighted Expected Value – where, on the balance of probabilities, something will be paid to the tax authority but the possible outcomes are widely dispersed with low individual probabilities (i.e. there is no single outcome more likely than not to occur). In this case, the provision is the sum of the probability-weighted amounts in the range. In assessing provisions against uncertain tax positions, management uses in-house tax experts, professional firms and previous experience to inform the evaluation of risk. However, it remains possible that uncertainties will ultimately be resolved at amounts greater or smaller than the liabilities recorded. In particular, although we report cross-border transactions undertaken between Group subsidiaries on an arm’s-length basis in tax returns in accordance with OECD guidelines, transfer pricing relies on the exercise of judgement and it is frequently possible for there to be a range of legitimate and reasonable views. This means that it is impossible to be certain that the returns basis will be sustained on examination. Discussions with tax authorities relating to cross-border transactions and other matters are ongoing in each of our major trading jurisdictions. Although the timing and amount of final resolution of these uncertain tax positions cannot be reliably predicted, no significant impact on the profitability of the Group is expected in the near term. Estimation of income taxes also includes assessments of the recoverability of deferred tax assets. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment. Notes to the consolidated financial statements for the year ended 31 December 2019 9 Taxation (continued) 2019 £m 2018 £m 2017 £m Current tax United Kingdom (141 ) (71 ) (104 ) Rest of world (241 ) (226 ) (335 ) Total current tax charge (382 ) (297 ) (439 ) Deferred tax 44 5 374 Tax expense (338 ) (292 ) (65 ) Cash tax paid in the year was £464m (2018: £415m; 2017: £449m), which is different to the tax expense for the year set out above. There are a number of reasons why the cash tax payments in a particular year will be different from the tax expense in the accounts: Deferred tax: Tax expense includes deferred tax, which is an accounting adjustment arising from temporary differences; Temporary differences occur when an item has to be included in the income statement in one year but is taxed in another year; and For the purposes of acquisition accounting only, the Group recognises deferred tax liabilities arising on intangible assets. Any unwind of these deferred tax liabilities from the amortisation of intangible assets does not result in cash tax payments. Timing differences: Tax payments relating to a particular year’s profits are typically due partly in the year and partly in the following year. Prior period adjustments: Current tax expense is the best estimate at the end of the period of cash tax expected to be paid; and To the extent the final liability is higher or lower than that estimate, any cash tax impact will occur in a later period. Items recorded in equity and other comprehensive income: Some of the benefits of tax deductions related to share based payments, pensions and hedging are credited to equity or other comprehensive income rather than to tax expense, and so the cash tax liability will be different to the current tax expense in the income statement in years when those deductions are available. Set out below is a reconciliation of the difference between tax expense for the period and the theoretical expense calculated by multiplying accounting profit by the applicable tax rate. We believe the most meaningful applicable rate is that obtained by multiplying the accounting profits and losses of all consolidated entities by the applicable domestic rate in each of those entities’ jurisdictions. The net tax expense charged on profit before tax differs from the theoretical amount that would arise using the weighted average of tax rates applicable to accounting profits and losses of the consolidated entities, as follows: 2019 2018 2017 £m % £m % £m % Profit before tax 1,847 1,720 1,721 Tax at average applicable rates (418 ) 22.6 % (361 ) 21.0 % (407 ) 23.6 % Tax effect of share of results of joint ventures 10 (0.5 )% 8 (0.5 )% 7 (0.4 )% Expenses not deductible for tax purposes (3 ) 0.2 % (24 ) 1.4 % (15 ) 0.9 % Non-deductible costs of share based remuneration (1 ) 0.1 % (1 ) 0.1 % (1 ) 0.1 % Non-deductible disposal-related gains and losses 4 (0.2 )% — 0.0 % (36 ) 2.1 % Deferred tax assets of the period not recognised (15 ) 0.8 % (24 ) 1.4 % (10 ) 0.6 % Change in recognition of deferred tax assets or liabilities 12 (0.6 )% (15 ) 0.9 % 16 (0.9 )% Other adjustments in respect of prior periods 73 (4.0 )% 13 (0.8 )% 35 (2.1 )% Exceptional tax credit — — 112 (6.5 )% 346 (20.1 )% Tax expense (338 ) 18.3 % (292 ) 17.0 % (65 ) 3.8 % 9 Taxation (continued) The weighted average applicable tax rate for the year was 22.6% (2018: 21.0%, 2017: 23.6%), reflecting the applicable rates in the countries where the Group operates. The Group’s future tax charge will be sensitive to the geographic mix of profits and losses and the tax rates and laws in force in the jurisdictions in which we operate. In the UK, a reduction in the corporation tax rate from 19% to 17% from April 2020 was enacted in September 2016. However the current government stated in December 2019 that the corporation tax rate will remain at 19% instead of reducing to 17%. It is expected that this will be included in the UK Budget in March 2020 and enacted shortly afterwards. In the US, the Tax Cuts and Jobs Act which included a reduction in the federal corporate tax rate from 35% to 21% from January 2018. In the Netherlands, a reduction in the corporate tax rate from 25% to 21.7% from 2021 was enacted in 2019. In total, the deferred tax effect of changes in tax rates for the year was a tax credit of £6m (2018: The effective tax rate of 18.3% (2018: 17%, 2017: 3.8%) is lower than the weighted average applicable tax rate The following tax has been recognised in other comprehensive income or directly in equity during the year: 2019 £m 2018 £m 2017 £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes 23 15 (59 ) Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges (8 ) 9 (30 ) Net tax credit/(debit) recognised in other comprehensive income 15 24 (89 ) Tax credit/(debit) on share based remuneration recognised directly in equity 6 (3 ) 8 2019 £m 2018 £m Deferred tax assets 239 455 Deferred tax liabilities (593 ) (830 ) Total (354 ) (375 ) Movements in deferred tax liabilities and assets (before taking into consideration the offsetting of balances within the same jurisdiction) are summarised as follows: Deferred tax liabilities Deferred tax assets Excess of tax allowances over amortisation £m Acquired intangible assets £m Other temporary differences £m Excess of amortisation over tax allowances £m Tax losses carried forward £m Pension balances £m Other temporary differences £m Total £m Deferred tax (liability)/asset at 1 January 2018 (267 ) (426 ) (302 ) 257 87 66 278 (307 ) Credit/(charge) to profit 75 13 13 (51 ) (32 ) 3 (16 ) 5 Credit/(charge) to equity/other comprehensive income — — — — — 15 (3 ) 12 Acquisitions — (88 ) — — 37 — — (51 ) Exchange translation differences (12 ) (26 ) (17 ) 1 4 2 14 (34 ) Deferred tax (liability)/asset at 1 January 2019 (204 ) (527 ) (306 ) 207 96 86 273 (375 ) Credit/(charge) to profit 48 9 19 (19 ) (18 ) (2 ) 7 44 Credit/(charge) to equity/other comprehensive income — — (17 ) — — 13 10 6 Acquisitions — (44 ) 0 — — — — (44 ) Exchange translation differences 6 19 14 (9 ) (3 ) (1 ) (11 ) 15 Deferred tax (liability)/asset at 31 December 2019 (150 ) (543 ) (290 ) 179 75 96 279 (354 ) Other deferred tax liabilities include temporary differences in respect of property, plant and equipment, capitalised development spend and financial instruments. Other deferred tax assets include temporary differences in respect of share based remuneration provisions and financial instruments. Notes to the consolidated financial statements for the year ended 31 December 2019 9 Taxation (continued) As a result of exemptions on dividends from subsidiaries and capital gains on disposal there are no significant taxable temporary differences associated with investments in subsidiaries, branches, associates and interests in joint arrangements. Deferred tax assets in respect of tax losses and other deductible temporary differences have only been recognised to the extent that it is more likely than not that sufficient taxable profits will be available to allow the asset to be recovered. Accordingly, no deferred tax asset has been recognised in respect of unused trading losses and interest expenses of approximately £255m (2018: £213m) carried forward at year end. The deferred tax asset not recognised in respect of these losses and interest expenses is approximately £66m (2018: £52m). Of the unrecognised losses and interest expenses, £124m (2018: £93m) will expire if not utilised within ten years and £131m (2018: £121m) will expire after more than ten years or have no expiration date. Deferred tax assets of approximately £6m (2018: £4m) have not been recognised in respect of tax losses and other temporary differences carried forward of £33m (2018: £24m), which can only be used to offset future capital gains. |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings per share | 10 Earnings per share Accounting policy Earnings per share (‘EPS’) is calculated by taking the reported net profit attributable to shareholders and dividing this by the total weighted average number of shares. Adjusted earnings per share is calculated by dividing adjusted net profit attributable to RELX PLC shareholders by the total weighted average number of shares. EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2019 2018 2017 Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Basic earnings per share 1,505 1,943.5 77.4p 1,422 1,977.2 71.9p 1,648 2,019.4 81.6p Diluted earnings per share 1,505 1,956.2 76.9p 1,422 1,990.8 71.4p 1,648 2,035.2 81.0p The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. ADJUSTED EARNINGS PER SHARE 2019 2018 2017 Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted earnings per share 1,808 1,943.5 93.0p 1,674 1,977.2 84.7p 1,620 2,019.4 80.2p RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC SHAREHOLDERS 2019 £m 2018 £m 2017 £m Net profit attributable to RELX PLC shareholders 1,505 1,422 1,648 Adjustments (post-tax): Amortisation of acquired intangible assets 321 322 356 Acquisition-related costs 69 71 43 Net interest on defined benefit pension obligations and other 10 7 11 Disposals and other non-operating items (40 ) 19 1 Other deferred tax credits from intangible assets* (57 ) (55 ) (93 ) Exceptional tax credit — (112 ) (346 ) Adjusted net profit attributable to RELX PLC shareholders 1,808 1,674 1,620 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. |
Statement of cash flows
Statement of cash flows | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Statement of cash flows | 11 Statement of cash flows Accounting policy Cash and cash equivalents comprise cash balances, call deposits and other short-term highly liquid investments and are held in the statement of financial position at fair value. RECONCILIATION OF PROFIT BEFORE TAX TO CASH GENERATED FROM OPERATIONS 2019 £m 2018 £m 2017 £m Operating profit 2,101 1,964 1,905 Share of results of joint ventures (41 ) (32 ) (37 ) Amortisation of acquired intangible assets 294 287 313 Amortisation of internally developed intangible assets 249 225 203 Depreciation of property, plant and equipment 58 62 65 Depreciation of right of use assets 82 77 75 Share based remuneration 32 41 39 Total non-cash items 715 692 695 (Increase)/decrease in inventories and pre-publication costs (14 ) (7 ) 2 (Increase)/decrease in receivables (116 ) (89 ) 37 Increase/(decrease) in payables 79 27 (76 ) Increase in working capital (51 ) (69 ) (37 ) Cash generated from operations 2,724 2,555 2,526 CASH FLOW ON ACQUISITIONS Note 2019 £m 2018 £m 2017 £m Purchase of businesses 12 (399 ) (919 ) (117 ) Investment in joint ventures — — (1 ) Deferred payments relating to prior year acquisitions (24 ) (16 ) (13 ) Total (423 ) (935 ) (131 ) RECONCILIATION OF NET BORROWINGS Cash and cash equivalents £m Borrowings £m Related derivative financial instruments £m Finance lease receivable £m 2019 £m 2018 £m 2017 £m At start of year 114 (6,365 ) 25 49 (6,177 ) (5,042 ) (5,050 ) Increase/(decrease) in cash and cash equivalents 27 — — — 27 1 (45 ) (Increase)/decrease in short-term bank loans, overdrafts and commercial paper — (98 ) — — (98 ) (147 ) 148 Issuance of term debt — (729 ) — — (729 ) (958 ) (873 ) Repayment of term debt — 617 — — 617 211 712 Repayment of leases — 102 — (16 ) 86 81 78 Change in net borrowings resulting from cash flows 27 (108 ) — (16 ) (97 ) (812 ) 20 Borrowings in acquired businesses — (6 ) — — (6 ) (12 ) — Remeasurement and derecognition of leases — (28 ) — — (28 ) (12 ) (6 ) Inception of leases — (62 ) — 2 (60 ) (28 ) (36 ) Fair value and other adjustments to borrowings and related derivatives — (123 ) 29 — (94 ) (25 ) (11 ) Exchange translation differences (3 ) 278 (2 ) (2 ) 271 (246 ) 41 At end of year 138 (6,414 ) 52 33 (6,191 ) (6,177 ) (5,042 ) Net borrowings comprise cash and cash equivalents, loan capital, lease liabilities and receivables, promissory notes, bank and other loans, derivative financial instruments that are used to hedge certain borrowings and adjustments in respect of cash collateral received/paid. The Group monitors net borrowings as part of capital and liquidity management. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Business Combinations [Abstract] | |
Acquisitions | 12 Acquisitions During the year, a number of acquisitions were made. The net assets of the businesses acquired are incorporated at their fair value to the Group. Provisional fair values of the consideration given and of the assets and liabilities acquired are summarised below. Fair value 2019 £m Fair value 2018 £m Fair value 2017 £m Goodwill 257 626 77 Intangible assets 245 423 56 Property, plant and equipment 1 5 — Current assets 20 24 3 Non-current assets 4 12 — Current liabilities (53 ) (72 ) (16 ) Borrowings (6 ) (12 ) — Deferred tax (44 ) (51 ) (2 ) Net assets acquired 424 955 118 Consideration (after taking account of £32m (2018: £27m; 2017: £7m) net cash acquired) 424 955 118 Less: consideration deferred to future years (10 ) (36 ) (1 ) Less: acquisition date fair value of equity interest (15 ) — — Net cash flow 399 919 117 Goodwill, being the excess of the consideration over the net tangible and intangible assets acquired, represents benefits which do not qualify for recognition as intangible assets, including: the ability of a business to generate higher returns than individual assets; skilled workforces; and acquisition synergies that are specific to the Group. In addition, goodwill arises on the recognition of deferred tax liabilities in respect of intangible assets for which amortisation does not qualify for tax deductions. The fair values of the assets and liabilities acquired in the last 12 months are provisional pending the completion of the valuation exercises. Final fair values will be incorporated in the 2020 consolidated financial statements. There were no significant adjustments to the provisional fair values of prior year acquisitions established in 2018. The businesses acquired in 2019 contributed £51m to revenue, increased adjusted operating profit by £8m, decreased net profit by £9m (after charging £17m of integration costs and amortisation of acquired intangibles) and contributed £3m to net cash outflow from operating activities for the part year under the Group’s ownership and before taking account of acquisition financing costs. Had the businesses been acquired at the beginning of the year, on a pro forma basis the Group revenues, adjusted operating profit and net profit attributable to RELX PLC shareholders for the year would have been £7,897m, £2,487m and £1,501m respectively, before taking account of acquisition financing costs. Since 31 December 2019, the Group has acquired or committed to acquire a number of businesses, for aggregate consideration of £0.6bn. These acquisitions include ID Analytics, a provider of credit and fraud solutions, and Emailage, a provider of email based fraud solutions, both of which will become part of Risk & Business Analytics |
Equity dividends
Equity dividends | 12 Months Ended |
Dec. 31, 2019 | |
Reconciliation Of Number Of Shares Outstanding [Abstract] | |
Equity dividends | 13 Equity dividends ORDINARY DIVIDENDS PAID IN THE YEAR 2019 £m 2018 £m 2017 £m RELX PLC 842 420 400 RELX NV — 376 362 Total 842 796 762 The RELX NV amount shown relates to dividends paid prior to the corporate simplification. Ordinary dividends declared and paid in the year ended 31 December 2020, in amounts per ordinary share, comprise: a 2018 final dividend of 29.7p (2018: 27.7p; 2017: 25.7p) and a 2019 interim dividend of 13.6p (2018: 12.4p; 2017: 11.7p), giving a total of 43.3p (2018: 40.1p; 2017: 37.4p) for RELX PLC The Directors of RELX PLC have proposed a final dividend of 32.1p (2018: 29.7p; 2017: 27.7p), giving a total for the financial year of 45.7p (2018: 42.1p; 2017: 39.4p). The total cost of funding the proposed final dividend is expected to be £620m, for which no liability has been recognised at the statement of financial position date. The Employee Benefit Trust has currently waived the right to receive dividends on RELX PLC shares. This waiver has been applied to dividends paid in 2019, 2018 and 2017. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2019 | |
Text Block1 [Abstract] | |
Goodwill | 14 Goodwill Accounting policy On the acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets on a fair value basis, with any excess purchase consideration representing goodwill. Goodwill arising on acquisitions also includes amounts corresponding to deferred tax liabilities recognised in respect of acquired intangible assets. Goodwill is recognised as an asset and reviewed for impairment when there is an indicator that the asset may be impaired and at least annually. Any impairment is recognised immediately in the income statement and not subsequently reversed. On disposal of a subsidiary or business, the attributable amount of goodwill is included in the determination of the profit or loss on disposal. At each statement of financial position date, the carrying amounts of tangible and intangible assets and goodwill are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount, which is the higher of value in use and fair value less costs to sell, of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independent from other assets, value in use estimates are made based on the cash flows of the cash generating unit to which the asset belongs. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is any indication that the asset may be impaired. If the recoverable amount of an asset or cash generating unit is estimated to be less than its net carrying amount, the net carrying amount of the asset or cash generating unit is reduced to its recoverable amount. Impairment losses are recognised immediately in the income statement in administration and other expenses. Critical judgement and key source of estimation uncertainty The carrying amounts of goodwill and indefinite lived intangible assets in each business are reviewed for impairment at least annually. The carrying amounts of all other intangible assets are reviewed where there are indications of possible impairment. An impairment review involves a comparison of the carrying value of the asset with estimated values in use based on the latest management cash flow projections, approved by the Board. Key areas of judgement in estimating the values in use of businesses are the growth in cash flows over a forecast period of up to five years, the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. A description of the key assumptions and sensitivities is provided below. 2019 £m 2018 £m At start of year 6,899 5,965 Acquisitions 257 626 Disposals/reclassified as held for sale (64 ) (25 ) Exchange translation differences (268 ) 333 At end of year 6,824 6,899 Notes to the consolidated financial statements for the year ended 31 December 2019 14 Goodwill (continued) The carrying amount of goodwill is after cumulative amortisation of £1,178m (2018: £1,222m), which was charged prior to the adoption of IFRS, and £9m (2018: £9m) of subsequent impairment charges recorded in prior years. Impairment review Impairment testing of goodwill and indefinite lived intangible assets is performed at least annually in accordance with the methodology described above. There were no charges for impairment of goodwill in 2019 (2018: nil). Goodwill is compiled and assessed among groups of cash generating units, which represent the lowest level at which goodwill is monitored by management. Typically, acquisitions are integrated into existing business units, and the goodwill arising is allocated to the groups of cash generating units (CGUs) that are expected to benefit from the synergies of the acquisition. As the business areas have become increasingly integrated and globalised, the current CGU allocation reflects the global leverage of assets, skills, knowledge and technology platforms, and the monitoring of goodwill by management. GOODWILL 2019 £m 2018 £m Scientific, Technical & Medical 1,594 1,620 Risk & Business Analytics 3,186 3,283 Legal 1,428 1,465 Exhibitions 616 531 Total 6,824 6,899 The key assumptions used for each group of cash generating units are disclosed below: KEY ASSUMPTIONS 2019 2018 Pre-tax discount rate Nominal long-term market growth rate Pre-tax discount rate Nominal long-term market growth rate Scientific, Technical & Medical 9.4 % 3 % 10.0 % 3 % Risk & Business Analytics 10.0 % 3 % 11.5 % 3 % Legal 10.6 % 2 % 12.2 % 2 % Exhibitions 11.6 % 3 % 12.7 % 3 % The pre-tax discount rates used are based on the Group’s weighted average cost of capital, adjusted to reflect a risk premium specific to each business. The Group’s weighted average cost of capital is derived from a risk free rate, a market risk premium, a risk adjustment (beta) and a cost of debt adjustment. The key assumptions within the forecast growth in the cash flows over a forecast period of up to five years are revenue growth, operating margin and cash conversion. Revenue growth and operating profit margin forecasts for each CGU are derived from past results adjusted by management based on salient current and future considerations. Cash conversion rates for each CGU are based on historical cash conversion rates. Nominal long-term market growth rates, which are applied after the forecast period of up to five years, do not exceed the long-term average growth prospects for the sectors and territories in which the businesses operate. A sensitivity analysis has been performed based on changes in key assumptions considered to be reasonably possible by management: an increase in the discount rate of 0.5%, a decrease in the compound annual growth rate for cash flow in the five-year forecast period of 2.0%, and a decrease in the nominal long-term market growth rates of 0.5%. The sensitivity analysis shows that no impairment charges would result from these scenarios. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Intangible Assets [Abstract] | |
Intangible assets | 15 Intangible assets Accounting policy Intangible assets acquired as part of a business combination are stated in the statement of financial position at their fair value as at the date of acquisition, less accumulated amortisation. Internally generated intangible assets are stated in the statement of financial position at the directly attributable cost of creation of the asset, less accumulated amortisation. Intangible assets acquired as part of business combinations comprise: market-related assets (e.g. trademarks, imprints, brands); customer-related assets (e.g. subscription bases, customer lists, customer relationships); editorial content; software and systems (e.g. application infrastructure, product delivery platforms, in-process research and development); contract-based assets (e.g. publishing rights, exhibition rights, supply contracts); and other intangible assets. Internally generated intangible assets typically comprise software and systems development where an identifiable asset is created that is probable to generate future economic benefits. Intangible assets, other than journal titles determined to have indefinite lives, are amortised on a straight-line basis over their estimated useful lives. The estimated useful lives of intangible assets with finite lives are as follows: market and customer-related assets – 3 to 40 years; content, software and other acquired intangible assets – 3 to 20 years; and internally developed intangible assets – 3 to 10 years. Journal titles determined to have indefinite lives are not amortised and are subject to impairment review at least annually, including a review of events and circumstances to ensure that they continue to support an indefinite useful life. Critical judgements and key sources of estimation uncertainty On acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets other than goodwill on a fair value basis, with any excess purchase consideration representing goodwill. The valuation of acquired intangible assets represents the estimated economic value in use, using standard valuation methodologies, including as appropriate, discounted cash flow, relief from royalty and comparable market transactions. Acquired intangible assets are capitalised and amortised systematically over their estimated useful lives, subject to impairment review. The assumptions used are subject to management judgement. Appropriate amortisation periods are selected based on assessments of the longevity of the brands and imprints, the strength and stability of customer relationships, the market positions of the acquired assets and the technological and competitive risks that they face. Certain intangible assets in relation to acquired science and medical publishing businesses have been determined to have indefinite lives. The longevity of these assets is evidenced by their long-established and well-regarded journal titles, and their characteristically stable market positions. The assumptions used are subject to management judgement. Development spend encompasses investment in new products and other initiatives, ranging from the building of online delivery platforms, to launch costs of new services, to building new infrastructure and applications. Launch costs and other ongoing operating expenses of new products and services are expensed as incurred. The costs of building product applications, platforms and infrastructure are capitalised as intangible assets, where the investment they represent has demonstrable value and the technical and commercial feasibility is assured. Costs eligible for capitalisation must be incremental, clearly identified and directly attributable to a particular project. The resulting assets are amortised over their estimated useful lives. Impairment reviews are carried out at least annually where indicators of impairment are identified. Judgement is required in the assessment of the potential value of a development project, the identification of costs eligible for capitalisation and the selection of appropriate asset lives. Notes to the consolidated financial statements for the year ended 31 December 2019 15 Intangible assets (continued) Market and customer- related £m Content, software and other £m Total acquired intangible assets £m Internally developed intangible assets £m Total £m Cost At 1 January 2018 3,519 3,492 7,011 2,691 9,702 Acquisitions 310 113 423 — 423 Additions — — — 304 304 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (148 ) (174 ) Exchange translation differences 211 130 341 99 440 At 1 January 2019 4,025 3,724 7,749 2,946 10,695 Acquisitions 161 84 245 — 245 Additions — — — 333 333 Disposals/reclassified as held for sale (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (158 ) (116 ) (274 ) (108 ) (382 ) At 31 December 2019 4,000 3,635 7,635 3,041 10,676 Accumulated amortisation At 1 January 2018 1,907 3,046 4,953 1,555 6,508 Charge for the year 169 118 287 225 512 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (111 ) (137 ) Exchange translation differences 105 113 218 60 278 At 1 January 2019 2,166 3,266 5,432 1,729 7,161 Charge for the year 182 112 294 249 543 Disposals/reclassified as held for sale (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (91 ) (103 ) (194 ) (71 ) (265 ) At 31 December 2019 2,229 3,218 5,447 1,777 7,224 Net book amount At 31 December 2018 1,859 458 2,317 1,217 3,534 At 31 December 2019 1,771 417 2,188 1,264 3,452 Included in content, software and other acquired intangible assets are assets with a net book value of £54m (2018: £80m) that arose on acquisitions completed prior to the adoption of IFRS that have not been allocated to specific categories of intangible assets Included in market and customer-related intangible assets are £114m (2018: £119m) of journal titles relating to Scientific, Technical & Medical determined to have indefinite |
Investments
Investments | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Investments [Abstract] | |
Investments | 16 Investments Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Changes in the fair value of investments held as part of the venture capital portfolio are reported in disposals and other non-operating items in the income statement. All items recognised in the income statement relating to investments, other than investments in joint arrangements and associates, are reported as disposals and other non-operating items. Venture capital investments and equity investments represent interests in unlisted securities. The fair value of unlisted securities is based on management’s estimate of fair value based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. Advice from valuation experts is used as appropriate. All joint arrangements are classified as joint ventures because the Group shares joint control and has rights to the net assets of the arrangements. Investments in joint ventures and associates are accounted for under the equity method and stated in the statement of financial position at cost as adjusted for post-acquisition changes in the Group’s share of net assets, less any impairment in value. 2019 £m 2018 £m Investments in joint ventures 118 104 Venture capital investments 133 151 Total 251 255 The value of venture capital investments and equity investments has been determined by reference to other observable market inputs or, when these are not available, by reference to inputs we believe would reflect the assumptions market participants would use. Gains and losses included in the consolidated income statement are provided in note 8. An analysis of changes in the carrying value of investments in joint ventures is set out below: 2019 £m 2018 £m At start of year 104 102 Share of results of joint ventures 41 32 Dividends received from joint ventures (34 ) (30 ) Additions 24 2 Disposals (11 ) — Exchange translation differences (6 ) (2 ) At end of year 118 104 Summarised aggregate information in respect of the Group’s share of joint ventures is set out below: RELX’s share 2019 £m 2018 £m Revenue 123 101 Net profit for the year 41 32 Total assets 112 96 Total liabilities (58 ) (49 ) Net assets 54 47 Goodwill 64 57 Total 118 104 The Group’s consolidated other comprehensive income includes no income or losses relating to joint ventures in either period. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property, plant and equipment | 17 Property, plant and equipment Accounting policy Property, plant and equipment are stated in the statement of financial position at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds are depreciated over their estimated useful lives up to a maximum of 50 years. Short leases are written off over the duration of the lease. Depreciation is provided on other assets on a straight-line basis over their estimated useful lives as follows: – land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years; – fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years. 2019 2018 Land and buildings £m Fixtures and equipment £m Total £m Land and buildings £m Fixtures and equipment £m Total £m Cost At start of year 223 640 863 217 599 816 Acquisitions 1 — 1 — 5 5 Capital expenditure 5 42 47 5 51 56 Disposals/reclassified as held for sale (8 ) (59 ) (67 ) (8 ) (40 ) (48 ) Exchange translation differences (8 ) (21 ) (29 ) 9 25 34 At end of year 213 602 815 223 640 863 Accumulated depreciation At start of year 146 519 665 137 485 622 Charge for the year 9 49 58 9 53 62 Disposals/reclassified as held for sale (7 ) (59 ) (66 ) (6 ) (40 ) (46 ) Exchange translation differences (5 ) (17 ) (22 ) 6 21 27 At end of year 143 492 635 146 519 665 Net book amount 70 110 180 77 121 198 No depreciation is provided on freehold land of £14m (2018: £14m). Amounts relating to right of use assets under IFRS 16 can be found in note 23. |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial instruments | 18 Financial instruments Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, cash and cash equivalents, payables and accruals, borrowings and derivative financial instruments. Investments (other than investments in joint ventures and associates) are described in note 16. The fair value of such investments is based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. (These investments are typically classified as either Level 2 or 3 in the IFRS 13 fair value hierarchy). Trade receivables are carried in the statement of financial position at invoiced value less allowance for expected credit losses. Expected credit losses are based on the ageing of trade receivables, experience and circumstance. Borrowings and payables are recorded initially at fair value and subsequently carried at amortised cost (other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk). Derivative financial instruments are used to hedge interest rate and foreign exchange risks. Where an effective hedge is in place against changes in the fair value of fixed rate borrowings, the hedged borrowings are adjusted for changes in fair value attributable to the risk being hedged with a corresponding income or expense included in the income statement within finance costs. The offsetting gains or losses from remeasuring the fair value of the related derivatives are also recognised in the income statement within finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. With effect from 1 January 2018, the fair value amounts relating to foreign currency basis spreads are recorded in a separate component of equity in the cost of hedging reserve. If a hedged firm commitment or forecasted transaction results in the recognition of a non-financial asset or liability, then, at the time that the asset or liability is recognised, the associated gains or losses on the derivative that had previously been recognised in other comprehensive income are included in the initial measurement of the asset or liability. For hedges that do not result in the recognition of an asset or a liability, amounts deferred in the hedge reserve are recognised in the income statement in the same period in which the hedged item affects net profit or loss. Any ineffective portion of hedges is recognised immediately in the income statement. Cash flow hedge accounting is discontinued when a hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in other comprehensive income is either retained in the hedge reserve until the firm commitment or forecasted transaction occurs, or, where a hedged transaction is no longer expected to occur, is immediately credited or expensed in the income statement. Derivative financial instruments that are not designated as hedging instruments are recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of derivative financial instruments represent the replacement costs calculated using observable market rates of interest and exchange. The fair value of long-term borrowings is calculated by discounting expected future cash flows at observable market rates. (These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy The main financial risks faced by the Group are liquidity risk, market risk – comprising interest rate risk and foreign exchange risk – and credit risk. Financial instruments are used to finance the Group’s businesses and to manage interest rate and foreign exchange risks. The Group’s businesses do not enter into speculative derivative transactions. Details of financial instruments subject to liquidity, market and credit risks are described below. Liquidity risk The Group maintains a range of borrowing facilities and debt programmes to fund its requirements at competitive rates. The balance of long-term debt, short-term debt and committed bank facilities is managed to provide security of funding, taking into account the cash generation cycle of the business and the uncertain size and timing of acquisition spend. To accommodate the significant free cash flow generated by the Group and to capitalise on an inexpensive source of funding, a meaningful portion of the overall debt portfolio is typically kept short-term as long as there exists acceptable liquidity in the commercial paper markets and sufficient capacity under committed credit lines. The Group’s treasury policies ensure adequate liquidity by requiring that (a) no more than $1.5bn of term debt matures in any 12-month period, (b) the sum of term debt maturing over the ensuing 12 months plus short-term borrowings is less than the sum of available cash plus committed facilities and (c) minimum levels of borrowing with maturities over three and five years are maintained. The treasury policies ensure debt efficiency by (a) targeting certain levels of short-term borrowings across a given year, (b) maintaining a weighted average maturity of the gross debt portfolio of approximately five years and (c) minimising surplus cash balances. From time to time, based on cash flow and market conditions, the Group may redeem term debt early or repurchase outstanding debt in the open market. Notes to the consolidated financial statements for the year ended 31 December 2019 18 Financial instruments (continued) Debt is issued to meet the funding requirements of various jurisdictions and in the currencies that are needed. It is recognised that debt can act as a natural translation hedge of earnings, net assets and net cash flow in currencies other than the reporting currency. For this reason, the majority of the Group’s net debt is denominated in US dollars and euros, reflecting the Group’s largest geographical markets. There were no changes to the Group’s long-term approach to capital and liquidity management during the year. The remaining contractual maturities for borrowings and derivative financial instruments are shown in the table below. The table shows undiscounted principal and interest cash flows and includes contractual gross cash flows to be exchanged as part of cross-currency interest rate swaps and forward foreign exchange contracts where there is a legal right of set-off. AT 31 DECEMBER 2019 Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (5,293 ) (1,332 ) (528 ) (134 ) (732 ) (498 ) (2,791 ) (6,015 ) Floating rate borrowings (779 ) (779 ) — — — — — (779 ) Lease liabilities (342 ) (104 ) (92 ) (62 ) (50 ) (32 ) (48 ) (388 ) Derivative financial liabilities Interest rate derivatives (4 ) (1 ) — — — (1 ) (2 ) (4 ) Cross-currency interest rate swaps (1 ) (41 ) (16 ) (16 ) (35 ) (15 ) (512 ) (635 ) Forward foreign exchange contracts (29 ) (1,984 ) (351 ) (179 ) (34 ) 0 0 (2,548 ) Derivative financial assets Interest rate derivatives 35 19 10 8 8 3 — 48 Cross-currency interest rate swaps 14 31 7 7 26 7 515 593 Forward foreign exchange contracts 32 1,977 354 185 35 — — 2,551 Total (6,367 ) (2,214 ) (616 ) (191 ) (782 ) (536 ) (2,838 ) (7,177 ) AT 31 DECEMBER 2018 Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (5,315 ) (752 ) (610 ) (552 ) (879 ) (732 ) (2,555 ) (6,080 ) Floating rate borrowings (690 ) (686 ) — — — — (4 ) (690 ) Lease liabilities (360 ) (104 ) (92 ) (75 ) (47 ) (30 ) (63 ) (411 ) Derivative financial liabilities Interest rate derivatives (15 ) (2 ) (2 ) (2 ) (2 ) (3 ) (8 ) (19 ) Cross-currency interest rate swaps (1 ) (48 ) (21 ) (21 ) (21 ) (39 ) (557 ) (707 ) Forward foreign exchange contracts (53 ) (1,498 ) (375 ) (181 ) (25 ) — — (2,079 ) Derivative financial assets Interest rate derivatives 21 12 13 3 1 5 3 37 Cross-currency interest rate swaps 13 33 8 8 8 25 553 635 Forward foreign exchange contracts 13 1,473 361 173 26 — — 2,033 Total (6,387 ) (1,572 ) (718 ) (647 ) (939 ) (774 ) (2,631 ) (7,281 ) The carrying amount of derivative financial liabilities comprises £4m (2018: £15m) in relation to fair value hedges, £13m (2018: £41m) in relation to cash flow hedges and £17m (2018: £13m) not designated as hedging instruments. The carrying amount of derivative financial assets comprises £50 (2018: £33m) in relation to fair value hedges, £27m (2018: £7m) in relation to cash flow hedges and £4m (2018: £7m) not designated as hedging instruments. Other payables balance of £108m (2018: nil), including put options, are currently expected to be settled in 4 to 5 years. 18 Financial instruments (continued) At 31 December 2019, the Group had access to a $3,000m committed bank facility, consisting of various tranches with maturities through to July 2024, which was undrawn. This facility backs up short-term borrowings. All borrowings that mature within the next twelve months can be covered by the facility and by utilising available cash resources. The committed bank facility is subject to a financial covenant typical to the Group’s size and financial strength. The Group had significant headroom within this covenant for the year ended 31 December 2019. There are no financial covenants in any outstanding public bonds. Market risk The Group’s primary market risks are interest rate fluctuations and exchange rate movements. Derivatives are used to manage the risks associated with interest rate and exchange rate movements and the Group does not enter into speculative derivatives. Where the impact of derivatives on the income statement and the statement of financial position could be significant, hedge accounting is applied (subject to satisfying the required criteria) as described in ‘Hedge accounting’ below. Derivatives used by the Group for hedging a particular risk are not specialised and are generally available from numerous sources. The impact of market risks on net post-employment benefit obligations and taxation is excluded from the following market risk sensitivity analysis. Interest rate exposure management The Group’s interest rate exposure management policy aims to minimise interest costs with an acceptable level of year on year volatility. To achieve this, the Group uses fixed rate term debt and interest rate swaps to give a target mix of fixed rate and floating rate borrowings. Interest rate derivatives are used only to hedge an underlying risk and no net market positions are held. At 31 December 2019, 46% of gross bank and bond borrowings were at fixed rate. A 100 basis point reduction in interest rates would result in an estimated decrease in net finance costs of £31m (2018: £32m), based on the composition of financial instruments including cash, cash equivalents, bank loans and commercial paper borrowings at 31 December 2019. A 100 basis point rise in interest rates would result in an estimated increase in net finance costs of £31m (2018: £32m). The impact on net equity of a theoretical change in interest rates as at 31 December 2019 is restricted to the change in carrying value of floating rate to fixed rate interest rate derivatives in a designated cash flow hedge relationship and undesignated interest rate derivatives. A 100 basis point reduction in interest rates would result in an estimated decrease in net equity of £1m (2018: £1m) and a 100 basis point increase in interest rates would increase net equity by an estimated £1m (2018: £1m). The impact of a change in interest rates on the carrying value of fixed rate borrowings in a designated fair value hedge relationship would be offset by the change in carrying value of the related interest rate derivative. Fixed rate borrowings not in a designated hedging relationship are carried at amortised cost. Foreign currency exposure management Translation exposures arise on the earnings and net assets of individual businesses whose operational currencies are other than sterling. Some of these exposures are offset by denominating borrowings in US dollars, euros and other currencies. Currency exposures on transactions denominated in a foreign currency are generally hedged using forward contracts. In addition, recurring transactions and future investment exposures may be hedged, in advance of becoming contractual. The precise policy differs according to the specific circumstances of the individual businesses. Highly predictable future cash flows may be covered for transactions expected to occur during the next 24 months (50 months for the Scientific, Technical & Medical subscription businesses) within limits defined according to the period before the transaction is expected to become contractual. Cover takes the form of foreign exchange forward contracts. Further information is provided in ‘Cash flow hedges’ below. A theoretical weakening of all currencies by 10% against sterling at 31 December 2019 would decrease the carrying value of net assets, excluding net borrowings, by £749m (2018: £782m). This would be offset to a degree by a decrease in net borrowings of £526m (2018: £625m). A strengthening of all currencies by 10% against sterling at 31 December 2018 would increase the carrying value of net assets, excluding net borrowings, by £749m (2018: £782m) and increase net borrowings by £526m (2017: £625m). A retranslation of the Group’s net profit for the year, assuming a 10% weakening of all foreign currencies against sterling but excluding transactional exposures, would reduce net profit by £129m (2018: £127m). A 10% strengthening of all foreign currencies against sterling on this basis would increase net profit for the year by £129m (2018: £127m). Credit risk The Group seeks to manage interest rate risk and limit foreign exchange risks described above by the use of financial instruments and as a result has a credit risk from the potential non-performance by the counterparties to these financial instruments, which are unsecured. The amount of this credit risk is normally restricted to the amounts of any hedge gain and not the principal amount being hedged. The Group also has a credit exposure to counterparties for the full principal amount of cash and cash equivalents. Credit risks are controlled by monitoring the credit quality of these counterparties, principally licensed commercial banks and investment banks with strong long-term credit ratings, and the amounts outstanding with each of them. The Group has treasury policies in place which do not allow concentrations of risk with individual counterparties and do not allow significant treasury exposures with counterparties which are rated lower than A-/A3 by Standard & Poor’s, Moody’s and Fitch. At 31 December 2019, cash and cash equivalents totalled £138m (2018: £114m), of which 93% (2018: 93%) was held with banks rated A-/A3 or better. Notes to the consolidated financial statements for the year ended 31 December 2019 18 Financial instruments (continued) The Group also has credit risk with respect to trade receivables due from its customers, which include national and state governments, academic institutions and large and small enterprises including law firms, book stores and wholesalers. The concentration of credit risk from trade receivables is limited due to the large and broad customer base. Trade receivable exposures are managed locally in the business units where they arise. Where appropriate, business units seek to minimise this exposure by taking payment in advance and through management of credit terms. Allowance is made for bad and doubtful debts based on management’s assessment of the risk taking into account the ageing profile, experience and circumstance. The maximum exposure to credit risk is represented by the carrying amount of each financial asset, including derivative financial instruments, recorded in the statement of financial position. Included within trade receivables are the following amounts which are past due, after considering loss allowance: past due up to one month £215m (2018: £181m); past due two to three months £108m (2018: £93m); past due four to six months £39m (2018: £37m); and past due greater than six months £45m (2018: £35m). Hedge accounting The hedging relationships that are designated under IFRS 9 – Financial Instruments with effect from 1 January 2018, and/or that were previously designated under IAS 39 – Financial Instruments are described below. Fair value hedges The Group has entered into interest rate swaps and cross-currency interest rate swaps to hedge the exposure to changes in the fair value of fixed rate borrowings due to interest rate and foreign currency movements which could affect the income statement. The table below details the designated fair value hedge relationships that were in place at 31 December 2019, swapping fixed rate term debt issues denominated in US dollars (USD) and euros to floating rate USD and euro debt respectively for the whole or part of their term, together with the related fixed and floating rates. FAIR VALUE HEDGE RELATIONSHIPS 31 December 2019 Principal amount £m 31 December 2018 Principal amount £m Fixed rate Floating rate €550m loan notes and €550m interest rate swaps maturing 2020 (466 ) (494 ) 2.5 % LIBOR+ 1.1% €500m bond and €500m interest rate swaps maturing 2021 (423 ) (449 ) 0.4 % LIBOR+ 0.3% $700m bond and $700m interest rate swaps maturing 2023 (528 ) (549 ) 3.5 % LIBOR+ 0.8% €500m bond and €500m interest rate swaps maturing 2024 (423 ) (449 ) 1.0 % LIBOR+ 0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (505 ) (525 ) 1.3 % LIBOR+ 1.3% $200m bond and $200m interest rate swaps maturing 2027 (151 ) (157 ) 7.2 % LIBOR+ 5.8% (2,496 ) (2,623 ) 18 Financial instruments (continued) The gains and losses on the borrowings and related derivatives designated as fair value hedges, which are included in the income statement as part of finance costs, together with the total carrying values of the borrowings and related derivatives included in the statement of financial position, for the three years ended 31 December 2019, 2018 and 2017 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2019 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2019 £m Carrying values £m USD debt 13 (26 ) — (13 ) (699 ) Related interest rate swaps (14 ) 27 — 13 13 (1 ) 1 — — (686 ) EUR debt (39 ) (2 ) 2 (39 ) (1,853 ) Related interest rate swaps 39 2 (2 ) 39 39 — — — — (1,814 ) Total relating to USD and EUR debt (26 ) (28 ) 2 (52 ) (2,552 ) Total related interest rate swaps 25 29 (2 ) 52 52 Net loss on borrowings and related derivatives/total carrying value (1 ) 1 — — (2,500 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2018 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2018 £m Carrying values £m USD debt 12 — 1 13 (701 ) Related interest rate swaps (12 ) (1 ) (1 ) (14 ) (14 ) — (1 ) — (1 ) (715 ) EUR debt (17 ) (21 ) (1 ) (39 ) (1,952 ) Related interest rate swaps 17 21 1 39 39 — — — — (1,913 ) Total relating to USD and EUR debt (5 ) (21 ) — (26 ) (2,653 ) Total related interest rate swaps 5 20 — 25 25 Net loss on borrowings and related derivatives/total carrying value — (1 ) — (1 ) (2,628 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2017 £m Fair value movement gain/(loss) £m De-designated £m Exchange gain/(loss) £m 31 December 2017 £m Carrying values £m USD debt 16 (1 ) (2 ) (1 ) 12 (147 ) Related interest rate swaps (16 ) 1 2 1 (12 ) (12 ) — — — — — (159 ) EUR debt (33 ) 17 — (1 ) (17 ) (1,922 ) Related interest rate swaps 32 (16 ) — 1 17 17 (1 ) 1 — — — (1,905 ) Total relating to USD and EUR debt (17 ) 16 (2 ) (2 ) (5 ) (2,069 ) Total related interest rate swaps 16 (15 ) 2 2 5 5 Net (loss)/gain on borrowings and related derivatives/total carrying value (1 ) 1 — — — (2,064 ) All fair value hedges were highly effective throughout the three years ended 31 December 2019. Gross borrowings as at 31 December 2019 included £19m (2018: £23m) in relation to fair value adjustments to borrowings previously designated in a fair value hedge relationship which were de-designated in 2008. The related derivatives were closed out on de ‑ Cash flow hedges As part of the Group’s interest rate exposure management, it has entered into certain cross-currency interest rate derivatives, individual components of which have been accounted for as cash flow hedges (with the remaining components accounted for as fair value hedges, as described above). These comprised the following: 1 Interest rate derivatives which swapped a fixed rate CHF 275m bond, issued in June 2013 and maturing in December 2018, to floating rate USD debt for the whole of its term. The component relating to the swap of fixed rate CHF coupons to fixed rate USD cash flows was accounted for as a cash flow hedge under IAS 39 and was de-designated on 31 December 2017. The gains which had accumulated in the cash flow hedge reserve up to the date of de-designation were reclassified to the income statement as part of finance costs during 2018. Notes to the consolidated financial statements for the year ended 31 December 2019 18 Financial instruments (continued) 2 Interest rate derivatives which swapped a fixed rate €600m bond, issued in May 2015 and maturing in May 2025, to floating rate USD debt for the whole of its term. The component relating to the swap of floating rate euro cash flows to floating rate USD cash flows (including credit margin) was accounted for as a cash flow hedge under IAS 39 up to 31 December 2017. From 1 January 2018 the component relating to the swap of the euro credit margin to USD is being accounted for a cash flow hedge under IFRS 9, with the amount associated with foreign currency basis spreads recorded in the cost of hedging reserve. As part of the Group’s foreign currency exposure management, it has entered into forward foreign exchange contracts which fix the exchange rate on a portion of future foreign currency subscription revenues forecast by the businesses for up to 50 months. These have been accounted for as cash flow hedges under IAS 39 and under IFRS 9 of the forecast foreign currency revenues, with gains and losses on the forward contracts deferred in the hedge reserve until the related revenue is recognised, at which time the accumulated gains and losses are reclassified to the income statement. Movements in the hedge reserve in 2018 and 2019 and, with effect from 1 January 2018, the cost of hedging reserve, including gains and losses on cash flow hedging instruments, were as follows: Interest rate hedge reserve £m Cost of hedging reserve £m Foreign currency hedge reserve £m Total £m Hedge reserve at 31 December 2017: gains/(losses) deferred 5 — (7 ) (2 ) Reclassification on 1 January 2018 (1 ) 1 — — Losses arising in 2018 — (8 ) (51 ) (59 ) Amounts recognised in income statement (3 ) — 20 17 Exchange translation differences — — — — Hedge reserve at 31 December 2018: gains/(losses) deferred 1 (7 ) (38 ) (44 ) Losses arising in 2019 (1 ) — 17 16 Amounts recognised in income statement — — 35 35 Hedge reserve at 31 December 2019: (losses)/gains deferred — (7 ) 14 7 All cash flow hedges were highly effective throughout the two years ended 31 December 2019. A deferred tax credit of nil (2018: £8m) in respect of the above gains and losses at 31 December 2019 was also deferred in the hedge reserve. Of the amounts recognised in the income statement in the year, losses of £35m (2018: £20m) were recognised in revenue, and gains of nil (2018: £3m) were recognised in finance costs. A tax credit of £6m (2018: £3m) was recognised in relation to these items. The deferred gains and losses on foreign currency cash flow hedges at 31 December 2019 are currently expected to be recognised in the income statement in future years as shown in the table below, together with the principal amount of hedges relating to each year and their total carrying values included within derivative assets and liabilities in the statement of financial position: Foreign currency hedge reserve £m Principal amount of hedges £m Carrying values £m 2020 7 502 5 2021 2 394 2 2022 4 221 4 2023 1 34 1 Total 14 1,151 12 The cash flows for these hedges are expected to occur in line with the recognition of the gains and losses in the income statement, or in the preceding year. These cash flows are included in the table on page 158. |
Inventories and pre-publication
Inventories and pre-publication costs | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Information About Inventories Explanatory [Abstract] | |
Inventories and pre-publication costs | 19 Inventories and pre-publication costs Accounting policy Inventories and pre-publication costs are stated at the lower of cost, including appropriate attributable overhead, and estimated net realisable value. Such costs typically comprise direct internal labour costs and externally commissioned editorial and other fees. Pre-publication costs, representing costs incurred in the origination of content prior to publication, are expensed systematically reflecting the expected sales profile over the estimated economic lives of the related products, generally up to five years. Annual reviews are carried out to assess the recoverability of carrying amounts. 2019 £m 2018 £m Raw materials 2 2 Pre-publication costs 181 171 Finished goods 34 39 Total 217 212 |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2019 | |
Trade And Other Receivables [Abstract] | |
Trade and other receivables | 20 Trade and other receivables 2019 £m 2018 £m Trade receivables 1,858 1,829 Loss allowance (88 ) (87 ) 1,770 1,742 Prepayments and accrued income 236 224 Tax receivable 28 — Net finance lease receivable 33 49 Total 2,067 2,015 Trade receivables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. Trade receivables are stated net of a loss allowance for expected credit losses. The movements in the loss allowance during the year were as follows: 2019 £m 2018 £m At start of year 87 79 Charge for the year 8 14 Trade receivables written off (4 ) (8 ) Exchange translation differences (3 ) 2 At end of year 88 87 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2019 | |
Trade And Other Payables [Abstract] | |
Trade and other payables | 21 Trade and other payables Accounting policy Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered. 2019 £m 2018 £m Trade payables 173 187 Accruals 684 711 Social security and other taxes 129 127 Other payables 422 407 Deferred income 2,071 2,000 Total 3,479 3,432 Trade and other payables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Borrowings By Type [Abstract] | |
Borrowings | 22 Borrowings Accounting policy Borrowings are recorded initially at fair value and subsequently carried at amortised cost, other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk. When the related derivative in such a hedging relationship expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. 2019 2018 Falling due within 1 year £m Falling due in more than 1 year £m Total £m Falling due within 1 year £m Falling due in more than 1 year £m Total £m Financial liabilities measured at amortised cost: Short-term bank loans, overdrafts and commercial paper 779 — 779 686 — 686 Term debt 716 1,792 2,508 614 1,808 2,422 Lease liabilities 93 249 342 92 268 360 Term debt in fair value hedging relationships 472 2,080 2,552 — 2,652 2,652 Term debt previously in fair value hedging relationships — 233 233 — 245 245 Total 2,060 4,354 6,414 1,392 4,973 6,365 The total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) is £3,491m (2018: £3,254m). The total fair value of term debt in fair value hedging relationships is £2,629m (2018: £2,742m). The total fair value of term debt previously in fair value hedging relationships is £276m (2018: £283m). RELX PLC has given guarantees in respect of certain long-term and short-term borrowings issued by subsidiaries. Included within term debt above are debt securities issued by RELX Capital Inc., a 100% indirectly owned finance subsidiary of RELX PLC, which have been registered with the US Securities and Exchange Commission. RELX PLC has fully and unconditionally guaranteed these securities, which are not guaranteed by any other subsidiary of RELX PLC. Analysis by year of repayment 2019 2018 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Within 1 year 779 1,188 93 2,060 686 614 92 1,392 Within 1 to 2 years — 425 87 512 — 508 87 595 Within 2 to 3 years — 33 57 90 — 451 70 521 Within 3 to 4 years — 658 47 705 — 688 42 730 Within 4 to 5 years — 433 29 462 — 669 27 696 After 5 years — 2,556 29 2,585 — 2,389 42 2,431 After 1 year — 4,105 249 4,354 — 4,705 268 4,973 Total 779 5,293 342 6,414 686 5,319 360 6,365 Short-term bank loans, overdrafts and commercial paper were backed up at 31 December 2019 by a $3,000m (£2,262m) committed bank facility, consisting of a $31m maturing in 2021, $1,219m maturing in 2022, $44m maturing in 2023 and $1,706m maturing in 2024. The committed bank facility was undrawn. 22 Borrowings (continued) Analysis by currency 2019 2018 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m US dollars 309 2,915 168 3,392 19 2,493 177 2,689 £ sterling — — 71 71 317 300 66 683 Euro 423 2,378 70 2,871 318 2,526 85 2,929 Other currencies 47 — 33 80 32 — 32 64 Total 779 5,293 342 6,414 686 5,319 360 6,365 Included in the US dollar amounts for term debt above is £525m (2018: £544m) of debt denominated in euros (€600m) (2018: |
Lease arrangements
Lease arrangements | 12 Months Ended |
Dec. 31, 2019 | |
Presentation Of Leases For Lessee [Abstract] | |
Lease arrangements | 23 Lease arrangements Accounting policy All leases where RELX is the lessee (with the exception of short-term and low-value leases) are recognised in the statement of financial position. A lease liability is recognised based on the present value of the future lease payments, and a corresponding right-of-use asset is recognised. The right-of-use asset is depreciated over the shorter of the lease term or the useful life of the asset. Lease payments are apportioned between finance charges and a reduction of the lease liability. Low-value items and short-term leases with a term of 12 months or less are not required to be recognised on the balance sheet and payments made in relation to these leases are recognised on a straight-line basis in the income statement. The leases held by the Group can be split into two categories: property and non-property. The Group leases various properties, principally offices, which have varying terms and renewal rights that are typical to the territory in which they are located. Non-property includes all other leases, such as cars and printers. Right-of-use assets Property £m Non- property £m 2019 £m Property £m Non- property £m 2018 £m At start of year 246 17 263 264 23 287 Additions 57 5 62 26 5 31 Acquisitions 4 — 4 7 5 12 Remeasurement 29 — 29 13 — 13 Disposals (2 ) (1 ) (3 ) (2 ) (8 ) (10 ) Depreciation (74 ) (8 ) (82 ) (68 ) (9 ) (77 ) Exchange translation differences (9 ) — (9 ) 6 1 7 At end of year 251 13 264 246 17 263 Lease liability 2019 £m 2018 £m Current Property (87 ) (83 ) Non-property (6 ) (9 ) Non-current Property (242 ) (260 ) Non-property (7 ) (8 ) Total (342 ) (360 ) Interest expense on the lease liabilities recognised within finance costs was £15m (2018: £14m, 2017: £17m). Notes to the consolidated financial statements for the year ended 31 December 2019 23 Lease arrangements (continued) As at 31 December 2019, RELX was committed to leases with future cash outflows totalling £9m (31 December 2018: £40m)which had not yet commenced and as such are not accounted for as a liability as at 31 December 2019. A liability and corresponding right-of-use asset will be recognised for these leases at the lease commencement date. RELX subleases vacant space available within its leased properties. IFRS 16 specifies conditions whereby a sublease is classed as a finance lease for the sub-lessor. The finance lease receivable balance held is as follows: Short-term and low value lease expenses have been disclosed in note 3. 2019 £m 2018 £m Net finance lease receivable 33 49 Interest income recognised in relation to finance lease receivables is disclosed in note 7. |
Share capital, share premium an
Share capital, share premium and shares held in treasury | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Share capital, share premium and shares held in treasury | 24 Share capital, share premium and shares held in treasury Accounting policy Shares of RELX PLC that are repurchased and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2019 £m No. of shares 2018 £m At start of year 2,011,043,101 290 1,123,682,106 162 Issue of ordinary shares 3,059,558 1 1,580,885 — Issue of bonus share 1 — — — Issue of ordinary shares in exchange for RELX NV shares — — 930,780,110 134 Cancellation of shares (33,300,001 ) (5 ) (45,000,000 ) (6 ) At end of year 1,980,802,659 286 2,011,043,101 290 At the 2019 AGM shareholders approved the issue of a bonus share with £4bn nominal value. The share was subsequently cancelled via a capital reduction, creating £4bn of distributable reserves in RELX PLC to replace the RELX NV reserves lost in the corporate simplification. 24 Share capital, share premium and shares held in treasury (continued) NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2019 Shares in issue net of treasury shares (millions) 2018 Shares in issue net of treasury shares (millions) RELX PLC At start of year 2,011.0 (49.1 ) 1,961.9 1,060.1 Issue of ordinary shares 3.1 — 3.1 1.6 Issue of ordinary shares in exchange for RELX NV shares — — — 927.3 Repurchase of ordinary shares — (33.5 ) (33.5 ) (26.9 ) Net release/(purchase) of shares by the Employee Benefit Trust — 0.4 0.4 (0.2 ) Cancellation of shares (33.3 ) 33.3 — — At end of year 1,980.8 (48.9 ) 1,931.9 1,961.9 During the year, RELX PLC repurchased 33.5m (2018: 26.9m; 2017: 23.1m) RELX PLC ordinary shares for an average price of 1,789p; these shares are held in treasury. The total consideration for the RELX PLC repurchases was £600m (2018: £700m, including 17.5m shares purchased by RELX NV prior to the corporate simplification). In 2018, as a result of the corporate simplification, RELX NV shares were cancelled and replaced with RELX PLC shares. This amounted to 930,780,110 RELX NV shares being cancelled and the same number of RELX PLC shares issued in exchange. The Employee Benefit Trust purchases RELX PLC shares which, at the trustees’ discretion, can be used in respect of the exercise of share options and to meet commitments under conditional share awards. During the year, the Employee Benefit Trust purchased 2.2m shares for a total cost of £37m (2018: £43m; 2017: £39m). At 31 December 2019, shares held by the Employee Benefit Trust were £94m (2018: £90m; 2017: £82m) at cost. The issue of ordinary shares in the year relates to the exercise of share options. All of the RELX PLC ordinary shares rank equally with respect to voting rights and rights to receive dividends, except for shares held in treasury, which do not attract voting or dividend rights. There are no restrictions on the rights to transfer shares. At 31 December 2019, RELX PLC shares held in treasury related to 6,753,010 (2018: 7,130,366; 2017: 3,493,817) RELX PLC ordinary shares held by the Employee Benefit Trust; and 42,267,027 (2018: 42,023,020; 2017: 60,077,786) RELX PLC ordinary shares held by the parent company. During December 2019, 33.3m (2018: 45m) RELX PLC ordinary shares held in treasury were cancelled. On 6 December 2019, RELX PLC announced a non-discretionary programme to repurchase further ordinary shares up to the value of £100m. At 31 December 2019, an accrual of £100m was recognised in respect of this non-discretionary commitment. A further 5.0m RELX PLC ordinary shares have been repurchased in January and February 2019 under this programme. |
Other reserves
Other reserves | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Other Reserves [Abstract] | |
Other reserves | 25 Other reserves Hedge reserve 2019 £m Other reserves 2019 £m Total 2019 £m Total 2018 £m At start of year (36 ) 1,020 984 425 Profit attributable to RELX PLC shareholders — 1,505 1,505 1,422 Dividends paid — (842 ) (842 ) (796 ) Actuarial (losses)/gains on defined benefit pension schemes — (137 ) (137 ) (91 ) Fair value movements on cash flow hedges 16 — 16 (59 ) Transfer to net profit from cash flow hedge reserve 35 — 35 17 Tax recognised in other comprehensive income (8 ) 22 15 24 Increase in share based remuneration reserve (net of tax) — 33 33 35 Bonus issue of ordinary shares — (4,000 ) (4,000 ) — Cancellation of bonus shares — 4,000 4,000 — Issue of ordinary shares, net of expenses — — — (227 ) Cancellation of shares — (499 ) (499 ) 262 Settlement of share awards — (33 ) (33 ) (35 ) Put option — (103 ) (103 ) — Disposal of non-controlling interests — 5 5 — Exchange translation differences — — — 7 At end of year 7 972 979 984 Other reserves principally comprise retained earnings and the share based remuneration reserve. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related party transactions | 26 Related party transactions Transactions between RELX PLC and subsidiaries of the Group have been eliminated within the consolidated financial statements. Transactions with joint ventures were made on normal market terms of trading and comprise sales of goods and services of £4m (2018: £3m; 2017: £16m) and the rendering and receiving of goods and services of £0.1m (2018: £0.1m; 2017: £0.1m). As at 31 December 2019, amounts owed by joint ventures were £5m (2018: £2m; 2017: £2m) and amounts due to joint ventures were £0.5m (2018: £0.9m; 2017: £1m). See note 6 for details of the Group’s participation in defined benefit pension schemes. Key management personnel are also related parties as defined by IAS 24 – Related Party Disclosures and comprise the Executive and Non-Executive Directors of RELX PLC. Key management personnel remuneration is set out below. For reporting purposes, salary, benefits and annual incentive payments are considered short-term employee benefits. KEY MANAGEMENT PERSONNEL REMUNERATION 2019 £m 2018 £m 2017 £m Salaries, other short-term employee benefits and non-executive fees 7 7 5 Post-employment benefits 1 1 1 Share based remuneration* 7 7 8 Total 15 15 14 EXECUTIVE DIRECTORS Salary £’000 Benefits £’000 Annual incentive £’000 Cost of share based remuneration* £’000 Cost of pension provision*£’000 Total £’000 Total Executive Directors 2019 1,984 101 3,038 7,343 725 13,191 2018 1,935 99 3,033 7,003 741 12,811 2017 1,889 101 1,964 8,205 983 13,142 * The figures for share based awards are calculated in accordance with the methodology set out in the UK Regulations. The figure for performance-related share based awards includes share price appreciation since the date the award was granted. Please see page 99 for further details. The cost of pension provision is calculated in accordance with the methodology set out in the UK Regulations. The amount is reduced by the Directors’ contributions and participation fee for defined benefit schemes and reduced by the payments made to defined contribution schemes or in lieu of pension. NON-EXECUTIVE DIRECTORS 2019 £’000 2018 £’000 2017 £’000 Fees and benefits 1,569 1,634 1,396 The remuneration of non-executive directors comprises fees for services, and benefits primarily relating to tax filing support in respect of filings resulting from their directorships. No deemed benefits were provided during 2019 to former Directors (2018: nil; 2017: £2,460). No loans, advances or guarantees have been provided on behalf of any Director. The aggregate gains made by Executive Directors on the exercise of options during 2019 were nil (2018: nil; 2017: |
Exchange rates
Exchange rates | 12 Months Ended |
Dec. 31, 2019 | |
Foreign Exchange Rates [Abstract] | |
Exchange rates | 27 Exchange rates The following exchange rates have been applied in preparing the consolidated financial statements: Income statement Statement of financial position 2019 2018 2017 2019 2018 Euro to sterling 1.14 1.13 1.14 1.18 1.11 US dollar to sterling 1.28 1.34 1.29 1.33 1.27 |
Approval of financial statement
Approval of financial statements | 12 Months Ended |
Dec. 31, 2019 | |
Approval Of Financial Statements [Abstract] | |
Approval of financial statements | 28 Approval of financial statements The consolidated financial statements were approved and authorised for issue by the Board of Directors on 12 February 2020. |
Related undertakings
Related undertakings | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related undertakings | 29 Related undertakings A full list of related undertakings (comprising subsidiaries, joint ventures, associates and other significant holdings) is set out below. All are 100% owned directly or indirectly by the Group except where percentage ownership denoted in (x%). Company name Share class Reg office Australia Elsevier (Australia) Pty Ltd Ordinary AUS3 Fair Events Pty Ltd (49%) Ordinary AUS2 Fitness Show Pty Ltd Ordinary AUS4 Reed Business Information (Australia) Pty Ltd Ordinary AUS1 Reed Exhibitions Australia Pty Ltd Ordinary AUS3 Reed International Books Australia Pty Ltd Ordinary AUS3 Reed Oz Comic-Con Pty Ltd Ordinary AUS3 RELX Australia Pty Ltd Ordinary AUS3 Symbiotic Technologies Operation Pty Ltd Ordinary AUS5 ThreatMetrix Pty Ltd Ordinary AUS5 Austria Expoxx Messebau GmbH Registered Capital AUT1 LexisNexis Verlag ARD ORAC GmbH & Co KG Registered Capital AUT2 ORAC Gesellschaft m.b.H. Registered Capital AUT2 Reed CEE GmbH Registered Capital AUT1 Reed Messe Salzburg GmbH Registered Capital AUT3 Reed Messe Wien GmbH Registered Capital AUT1 RELX Austria GmbH Registered Capital AUT3 System StandBau GmbH Registered Capital AUT3 Belgium First 4 Farming Europe NV Ordinary BEL2 LexisNexis BVBA Ordinary BEL1 Brazil Elsevier Editora Ltda Quotas BRA1 Fircosoft Brazil Consultoria e Servicos de Informatica Ltda Ordinary BRA2 LexisNexis Informações e Sistemas Empresariais Ltda Quotas shares BRA6 LexisNexis Serviços de Análise de Risco Ltda Quotas shares BRA3 MLex Brasil Midia Mercadologica Ltda (91%) Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas shares BRA3 SST Software do Brasil Ltda Ordinary BRA5 Canada LexisNexis Canada Inc Class B ordinary CAN1 RELX Canada Ltd Common shares CAN3 Science-Metrix Inc Common shares CAN4 ThreatMetrix (Canada) Inc Common shares CAN2 China Beijing Bakery China Exhibitions Co., Ltd (25%) Registered Capital CHN1 Beijing Medtime Elsevier Education Technology Co., Ltd (49%) Registered Capital CHN2 C-One Energy Co., Ltd Registered Capital CHN5 Genilex Information Technology Co., Ltd Registered Capital CHN6 ICIS Consulting (Beijing) Co., Ltd Registered Capital CHN7 KeAi Communications Co., Ltd (49%) Registered Capital CHN8 LexisNexis Risk Solutions (Shanghai) Information Registered Capital CHN9 Technologies Co., Ltd Mack Brooks (Shanghai) Ltd Registered Capital CHN18 Reed Business Information (Shanghai) Co Ltd Registered Captial CHN17 Reed Elsevier Information Technology (Beijing) Co., Ltd Registered Capital CHN3 Reed Exhibitions (China) Co., Ltd Registered Capital CHN4 Reed Exhibitions Hengjin Co., Ltd (51%) Registered Capital CHN16 Reed Exhibitions (Shanghai) Co., Ltd Registered Capital CHN13 Reed Hongda Exhibitions (Henan) Co., Ltd (51%) Registered Capital CHN11 Reed Huabai Exhibitions (Beijing) Co., Ltd (51%) Registered Capital CHN4 Reed Huabo Exhibitions (Shenzhen) Co., Ltd (65%) Registered Capital CHN12 Company name Share class Reg office Reed Huaqun Exhibitions Co., Ltd (52%) Registered Capital CHN4 Reed Kuozhan Exhibitions (Shanghai) Co., Ltd (60%) Registered Capital CHN10 Reed Sinopharm Exhibitions Co., Ltd (50%) Registered Capital CHN4 RELX (China) Investment Co., Ltd Registered Capital CHN12 Shanghai Datong Medical Information Technology Co., Ltd Registered Capital CHN14 Shanghai SinoReal Exhibitions Co., Ltd (27.5%) Registered Capital CHN15 Colombia LexisNexis Risk Solutions S.A.S. Ordinary COL1 Denmark Elsevier A/S Ordinary DNK1 Dubai, UAE Reed Exhibitions Free Zone-LLC Ordinary UAE1 RELX Middle East FZ-LLC Ordinary UAE2 Egypt Elsevier Egypt LLC Ordinary EGY1 France Elsevier Holding France SAS Registered Capital FRA1 Elsevier Masson SAS Registered Capital FRA1 Evoluprint SAS Ordinary FRA2 Fircosoft SAS Ordinary FRA8 Gie Edi-Data (83%) Ordinary FRA3 Gie Juris-Data Ordinary FRA3 GIE PRK – Publicite Robert Krier Registered capital FRA4 LexisNexis Business Information Solutions S.A. Ordinary FRA3 LexisNexis Business Information Solutions Holding S.A. Ordinary FRA5 LexisNexis International Development Services S.A. Ordinary FRA3 LexisNexis SA Ordinary FRA3 Reed Exhibitions ISG SARL Registered capital FRA6 Reed Expositions France SAS Ordinary FRA4 Reed Midem SAS Registered capital FRA6 Reed Organisation SAS Ordinary FRA4 RELX France S.A. Registered capital FRA6 RELX France Services SAS Registered capital FRA8 SAFI SA (50%) Ordinary FRA7 Germany Aries GmbH & Co KG Registered Capital DEU2 Aries Medical Knowledge Verwaltungsgesellschaft GmbH Registered Capital DEU2 Elsevier GmbH Registered Capital DEU4 Elsevier Information Systems GmbH Registered Capital DEU3 LexisNexis GmbH Registered Capital DEU5 PatentSight GmbH Registered Capital DEU7 Reed Exhibitions (Germany) GmbH Registered Capital DEU5 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 RELX Deutschland GmbH Registered Capital DEU1 Tschach Solutions GmbH Ordinary DEU6 Greece Mack Brooks Hellas SA Ordinary GRE1 Hong Kong Ascend China Holding Ltd Ordinary HNK1 JC Exhibition and Promotion Ltd (65%) Ordinary HNK1 JYLN Sager Ltd Ordinary HNK3 MLex Asia Ltd (91%) Ordinary HNK5 Reed Business Information (China) Ltd Ordinary HNK2 Reed Exhibitions Ltd Ordinary HNK1 RELX (Greater China) Ltd Ordinary HNK4 India Chemprotech India Expo Pvt Ltd (25%) Ordinary IND7 Chemspec India Expo Pvt Ltd (50%) Ordinary IND7 FircoSoft India Private Ltd Ordinary IND2 Next Events Pvt Ltd Registered Capital IND4 Parity Computing India Pvt Ltd Ordinary IND5 Reed Elsevier Publishing (India) Pvt Ltd Ordinary IND3 29 Related undertakings (continued) Company name Share class Reg office Reed Manch Exhibitions Private Ltd (70%) Ordinary IND4 Reed Triune Exhibitions Private Ltd (72%) Ordinary IND6 RELX India Private Ltd Ordinary IND1 Indonesia PT Reed Exhibitions Indonesia (70%) Class A IDN2 Class B PT Reed Panorama Exhibitions (50%) Ireland Ordinary IDN1 Ireland Elsevier Services Ireland Ltd Ordinary IRL2 LexisNexis Risk Solutions (Europe) Ltd Ordinary IRL1 LexisNexis Risk Solutions (Ireland) Ltd Ordinary IRL1 3D4Medical Ltd Ordinary IRL3 3D4Medical Support Services Ltd Ordinary IRL3 Israel LexisNexis Israel Ltd Ordinary ISR1 Italy Elsevier SRL Registered Capital ITA1 ICIS Italia SRL Ordinary ITA2 Reed Exhibitions ISG Italy SRL Ordinary ITA1 Reed Exhibitions Italia SRL Ordinary ITA1 Japan Ascend Japan KK Ordinary JPN1 Elsevier Japan KK Ordinary JPN2 LexisNexis Japan KK Common Stock JPN3 PatentSight Japan Inc Common Shares JPN6 Reed Exhibitions Japan KK Ordinary JPN4 Reed ISG Japan KK Ordinary JPN5 ThreatMetrix GK Membership Interest JPN7 Korea (South) Elsevier Korea LLC Ordinary KOR1 LexisNexis Legal and Professional Service Korea Ltd Ordinary KOR2 Reed Exhibitions Korea Ltd Ordinary KOR3 Reed Exporum Ltd (60%) Ordinary KOR4 Reed K. Fairs Ltd (70%) Ordinary KOR3 Malaysia LexisNexis Malaysia Sdn Bhd Ordinary MYS1 Reed Exhibitions Sdn Bhd Ordinary MYS1 Mexico Masson-Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Ordinary MEX1 Morocco Reed Exhibitions Morocco SARL Ordinary MAR1 New Zealand LexisNexis NZ Ltd Ordinary NZL1 Philippines Reed Elsevier Shared Services (Philippines) Inc. Ordinary PHL1 Poland AI Digital Contracts Sp. z.o.o. (75%) Ordinary POL1 Elsevier sp. z.o.o. Ordinary POL2 Russia Ecwatech Company ZAO Ordinary RUS1 Elsevier OOO Participation Shares RUS1 LexisNexis OOO Registered Capital RUS1 Real Estate Events Direct OOO (80%) Registered Capital RUS2 RELX OOO Registered Capital RUS1 3D4Medical OOO Ordinary RUS3 Saudi Arabia Reed Sunaidi Exhibitions (50%) Ordinary SAU1 Singapore Elsevier (Singapore) Pte Ltd Ordinary SGP1 Lexis-Nexis Philippines Pte Ltd (75%) Ordinary B SGP2 Preference Mack Brooks Asia Pte Ltd Ordinary SGP5 Reed Business Information Pte Ltd Ordinary SGP3 RE (HAPL) Pte Ltd Ordinary SGP1 RELX (Singapore) Pte. Ltd Ordinary SGP2 Company name Share class Reg office ThreatMetrix PTE Ltd Ordinary SGP4 South Africa Fircosoft South Africa (Pty) Ltd Ordinary ZAF1 Globalrange SA (Pty) Ltd Ordinary ZAF2 Korbitec (Pty) Ltd (78%) Ordinary ZAF3 LegalPerfectTSoftware Solutions (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis Academic (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis Risk Management (Pty) Ltd (78%) Ordinary ZAF3 Property Payment Exchange (SA) (Pty) Ltd (78%) Ordinary ZAF3 RELX (Pty) Ltd Ordinary ZAF3 Reed Exhibitions (Pty) Ltd (90%) A-shares ZAF3 Reed Events Management (Pty) Ltd (90%) A-shares ZAF3 Reed Exhibitions Group(Pty) Ltd (90%) Ordinary ZAF3 Reed Venue Management (Pty) Ltd (90%) A-shares ZAF3 Winsearch Services (Pty) Ltd (78%) Ordinary ZAF3 Spain Elsevier Espana, S.L. Participations ESP1 Switzerland Elsevier Finance SA Ordinary CHE1 Fircosoft Schweiz GmbH Ordinary CHE2 RELX Risks SA Ordinary CHE1 RELX Swiss Holdings SA Ordinary CHE1 Taiwan Elsevier Taiwan LLC Registered Capital TWN1 Thailand MackBrooks Exhibitions Asia Ltd (49%) Ordinary THA3 Reed Tradex Company Ltd (49%) Ordinary THA1 Reed Holding (Thailand) Co., Ltd Ordinary THA2 Reed Tradex Company Ltd (49%) Preference shares THA4 The Netherlands AGRM Solutions C.V. Partnership Interest NLD1 Elsevier B.V. Ordinary NLD1 Elsevier Employment Services B.V. Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LexisNexis Univentio B.V. Ordinary NLD2 Misset Uitgeverij B.V.(49%) Ordinary NLD4 One Business B.V. (33%) Registered Capital NLD5 Reed Business B.V. Ordinary NLD1 RELX Finance B.V. Ordinary NLD1 RELX Holdings B.V. Ordinary NLD1 RELX Nederland B.V. Ordinary NLD1 RELX Overseas B.V. RE Shares NLD1 ThreatMetrix BV Ordinary NLD3 Turkey Elsevier STM Bilgi Hizmetleri Limited Şirketi Ordinary TUR1 Mack Brooks Fuarcilik A.S Registered Capital TUR 3 Reed Tüyap Fuarcilik A.Ş.(50%) A Ordinary TUR2 B Ordinary United Kingdom Adaptris Group Ltd Ordinary GBR2 Bradfield Brett Holdings Ltd 7 1/2% Preferred GBR1 Income, Ordinary Butterworths Ltd Ordinary GBR5 Cordery Compliance Ltd (71%) Ordinary GBR5 Cordery Ltd (71%) Ordinary GBR5 Crediva Ltd Ordinary GBR6 Dew Events Ltd Ordinary GBR3 Digital Foundry Network (50%) Ordinary GBR3 Drayton Legal Recoveries Ltd Ordinary GBR7 E & P Events LLP (50%) No Shares GBR3 Elsevier Ltd Ordinary GBR8 Elsevier Life Sciences IP Ltd Ordinary GBR8 Fastener Fairs Ltd Ordinary, GBR4 Ordinary-A, Ordinary-B Formpart (EPS) Ltd Ordinary GBR1 Formpart (HPL) Ltd Ordinary GBR1 Notes to the consolidated financial statements for the year ended 31 December 2019 29 Related undertakings (continued) Company name Share class Reg office Gamer Edition Ltd Ordinary GBR3 Gamer Events Ltd Ordinary GBR3 Gamer Network Ltd Ordinary GBR3 Imbibe Media Ltd Ordinary GBR3 Information Handling Ltd (85%) Ordinary GBR1 Insurance Initiatives Ltd Ordinary GBR10 Knowable Holdings Ltd (75%) Ordinary GBR1 Knowable Ltd (75%) Ordinary GBR1 Legend Exhibitions Ltd Ordinary GBR13 LexisNexis Risk Solutions UK Ltd Ordinary GBR9 Mack Brooks Events Ltd Ordinary GBR3 Mack-Brooks Exhibitions Ltd Ordinary, A Ordinary GBR3 Mack-Brooks (France) Ltd Ordinary GBR3 Mack-Brooks Publishing Ltd Ordinary, A Ordinary GBR3 Mack Brook Speciality Publishing Ltd Ordinary GBR3 MCM Central Ltd Ordinary GBR2 MCM Expo Ltd Ordinary GBR2 Mendeley Ltd Ordinary GBR7 MLex Ltd Ordinary GBR4 Newsflo Ltd Ordinary GBR1 NLife Ltd (23.5%) Ordinary GBR12 Offshore Europe (Management) Ltd Ordinary GBR3 Offshore Europe Partnership (50%) Partnership Interest GBR3 Out There Gaming Ltd (70%) Ordinary GBR3 Oxford Spires Management Co; Ltd (55%) Ordinary GBR10 Prean Holdings Ltd Deferred, Ordinary GBR1 RE Directors (No.1) Limited Ordinary GBR1 RE Directors (No.2) Limited Ordinary GBR1 RE (RCB) LTD Ordinary GBR1 RE Secretaries Ltd Ordinary GBR1 RE (SOE) Ltd Ordinary GBR3 Reed Business Information (Holdings) Ltd Ordinary GBR2 Reed Business Information Ltd Ordinary GBR2 Reed Elsevier (UIG) Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR3 Reed Exhibitions Ltd Deferred, Ordinary GBR3 Reed Nominees Ltd Ordinary GBR1 Reed Publishing Corporation Ltd Ordinary GBR1 RELX (Holdings) Ltd Ordinary GBR1 RELX (Investments) plc Ordinary GBR1 RELX (UK) Ltd Ordinary GBR1 RELX Finance Ltd Ordinary GBR1 RELX Group plc Ordinary GBR1 ‘R’ Ordinary RELX Overseas Holdings Ltd Ordinary, GBR1 REV Venture Partners Ltd Ordinary GBR1 Symbiotic Technologies Operations Ltd Ordinary GBR9 Tracesmart Ltd Ordinary GBR5 Whitehall Debenture Company Limited A Ordinary GBR1 B Ordinary Wunelli Ltd Ordinary GBR11 United States Accuity Inc. Common Stock USA1 Accuity Asset Verification Services Inc Common Stock USA1 American Textile Machinery Exhibitions International Inc. (40%) Common Stock USA3 Aries Systems Corporation Common USA3 Derman, Inc Common Stock USA4 Dunlap-Hanna Publishers (50%) Partnership Interest USA7 Elsevier Inc Common Stock USA3 Elsevier Holdings Inc Common Stock USA3 Elsevier Medical Information LLC Membership Interest USA3 Elsevier STM Inc Common Stock USA3 Enclarity, Inc Common Stock USA2 ExitCare LLC Membership Interest USA3 Gamer Network Inc. Common Stock USA3 Company name Share class Reg office Gaming Business Asia LLC (50%) Membership Interest USA3 Health Market Science, Inc Common Stock USA2 IDG-RBI China Publishers LLC (50%) Membership Interest USA3 Intelligize, Inc Common Stock USA3 Knovel Corporation Common Stock USA3 Knowable Inc (75%) Common Stock USA8 LexisNexis Claims Solutions Inc Common Stock USA2 LexisNexis Coplogic Solutions Inc Common Stock USA2 LexisNexis of Puerto Rico Inc Common Stock USA9 LexisNexis Risk Assets Inc Common Stock USA2 LexisNexis Risk Data Management Inc Common Stock USA2 LexisNexis Risk Holdings Inc Common Stock USA2 LexisNexis Risk Solutions Inc Common Stock USA2 LexisNexis Risk Solutions FL Inc. Common Stock USA2 LexisNexis Special Services Inc Common Stock USA6 LexisNexis VitalChek Network Inc Common Stock USA2 Mack Brooks Exhibitions Inc. Common Stock USA3 Matthew Bender & Company, Inc. Common Stock USA3 MLex US, Inc (91%) Common Stock USA3 Parity Computing, Inc. Common Stock USA3 PCLaw Time Matters LLC (51%) No Stock USA2 PoliceReports.US, LLC Membership Interest USA2 Portfolio Media, Inc Common Stock USA3 Reed Business Information Inc Common Stock USA5 Reed Technology and Information Services Inc. Common Stock USA3 RELX Capital Inc Common Stock USA4 RELX Inc Common Stock USA3 RELX Risks Inc. Common Stock USA2 RELX US Holdings Inc Common Stock USA3 Reman, Inc Common Stock USA3 REV IV Partnership LP No shares USA4 SAFI Americas LLC (50%) Membership Interest USA3 The Reed Elsevier Ventures 2005 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2006 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2009 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2010 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2011 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2012 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2013 Partnership LP Partnership Interest USA4 The Remick Publishers (50%) Partnership Interest USA7 ThreatMetrix, Inc. Common USA2 World Compliance, Inc Common Stock USA4 3D4Medical.com, LLC Membership Interest USA10 3D4Medical Inc. Common Stock USA10 Vietnam Reed Tradex Vietnam LLC (49%) Ordinary VIE1 29 Related undertakings (continued) Registered offices Australia AUS1: Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills NSW 2153,Australia AUS2: 383 Kent Street, Sydney NSW 2000, Australia AUS3: ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 AUS4: Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 AUS5: 1303, 799 Pacific Highway, Chatswood, NSW 2067 Austria AUT1: Messeplatz 1, 1020, Wien, Austria AUT2: Marxergasse 25, 1030, Wien, Austria AUT3: Am Messezentrum 6, 5020, Salzburg, Austria Belgium BEL1: Oudenaardseheerweg 129, 9810 Nazareth, Belgium BEL2: Guldensporenpark 36D, 9820 Merelbeke, Belgium Brazil BRA1: Rua Sete de Setembro, n0 111, salas 601,1501/1502, 1601/1602, 1701/1702 e 802 – 80 Andar, Centro, cidade do Rio de Janeiro, estado do Rio de Janeiro, CEP 20.050-006 BRA2: Rua Bela Cintra 2305, São Paulo, 01415-009,Brazil BRA3: Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil BRA4: Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 BRA5: Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200 BRA6: Rua Bela Cintra no. 1200, 5th floor, Sâo Paulo, 01415-002, Brazil Canada CAN1: 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada CAN2: 177 King Street West, Suite 400, Toronto-Dominion Centre Toronto, Ontario, M5K 0A1, Canada CAN3: 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 CAN4: 26E-1501 av. McGill College, Montreal, Quebec, H3A 3N9, Canada China CHN1: Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044, China CHN2: West Building of Administration Building, Xueyuan Road No. 38 Peking University Health Science Center, Haidan District, Beijing, 100191, China CHN3: Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China CHN4: Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China CHN5: Unit 2480, Building 2, No. 7, Chuangxin Road, Science Park of Changping District, Beijing, China CHN6: Unit B1303-1 & 1305, 13F Center Plaza, 161 Linhe Road West, Tianhe District Guangzhou, China CHN7: 404 F4, No.9 Shangdi 9th Street, Haidian District, Beijing, 100085, China CHN8: Room 5106, Raffle City, 268 Middle Xizang Road, Huangpu District, Shanghai, 200001, China CHN9: Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road, Chaoyang District, Beijing CHN10: Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China CHN11: Shenzhen International Chamber of Commerce Tower, Room 1801-1802, 1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048, China CHN12: Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China CHN13: Room 304, Sanlian Building, No.8, Huajing Road, Pudong District, Shanghai, 200070, China CHN14: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality CHN15: FL2, No.979, Yunhan Road, Nicheng Town, Pudong New Area CHN16: Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New Area, Shanghai CHN17: 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China CHN18: Room Jia301-22, No15, Lane152, Yanchang Road, Shanghai, China Colombia COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá, d.c., 76600, Colombia Denmark DNK1: Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark Dubai, UAE UAE1: Office G-49, Building No 9, Dubai Media City, Post Box 502425, Dubai, United Arab Emirates UAE2: Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates Egypt EGY1: Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt Registered offices France FRA1: 65, rue Camille Desmoulins, 92130, Issy les Moulineaux, France FRA2: Parc Euronord – 10, rue du Parc – 31150 Bruguieres FRA3: 141 rue de Javel, 75015 Paris FRA4: 52 Quai de Dion Bouton 92800 Puteaux FRA5: Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) FRA6: 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France FRA7: 6-8 Rue Chaptal, 75009 Paris FRA8: 151-155 Rue de Bercy, 75012 Paris, France Germany DEU1: Völklinger Strasse 4, 40219, Düsseldorf, Germany DEU2: Leichlinger Street 14,40764,Langenfeld,Germany DEU3: Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany DEU4: Hackerbrücke 6, 80335, Munich, Germany DEU5: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU6: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany DEU7: Joseph-Schumpeter-Allee 33, 53227, Bonn Greece GRE1 188A, Filolaou Str.,Athens, 11632, Greece Hong Kong HNK1: 20/F Alexandra House, 18 Chater Road, Central, Hong Kong HNK2: Level 54 Hopewell Center, 183 Queens Road East (Tricor Office), Hong Kong HNK3: Flat 1506, 15/F, Lucky Center, No. 165-171 Wan Chai Road, Wan Chai, Hong Kong HNK4: 11/F Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong HNK5: 3901, 39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong India IND1: 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India IND2: S21 Vatika Centre, No 471 Anna Salai, Taynampet, Chennai, 600035, India IND3: 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India IND4: Unit no 03,04,05 first floor, Southern Park D2 Saket, New Delhi, South Delhi ,110017, India IND5: 99/100, Prestige Towers Unit No. 505, Fifth Floor, Residency Road, Bangalore, IND6: #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India IND7: B-602, Godrej coliseum, K. J. Hospital Road, Sion (E), Mumbai, 400 022, India Indonesia IDN1: Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia IDN2: Menara Citicon Level 8. Unit 8011 & 8012 Jl. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia Ireland IRL1: 80 Harcourt Street, Dublin 2, Ireland IRL2: Suite 4320, Atlantic Avenue, Westpark Business Campus, Shannon, Clare, Ireland IRL3: 1st Floor The Grange Stillorgan Road, Blackrock, Co Dublin, Ireland Israel ISR1: Meitar, attorneys at Law, 16 Abba Hillel Road, Ramat Gan, 5250608, Israel Italy ITA1: Via Marostica 1, 20146, Milan, Italy ITA2: Studio Colombo e Associati, Via Cino del Duca 5, 20122, Milano, Italy Japan JPN1: Kyodo Tsushin Kaikam 2F, 2-2-5 Toronomon, Minato-ku, Tokyo, 105-0001 JPN2: Ark Mori Building, 1-12-32 Akasaka, Minato-ku, Tokyo, 107-6029, Japan JPN3: 1-9-15, Higashi Azabu, Minato-ku Tokyo Japan JPN4: Shinjuku-Nomura Bldg., 1-26-2 Nishi-shinjuku, Shinjuku-ku, Tokyo, Japan JPN5: 13-12 Rokubancho, Chiyoda-ku, Tokyo, Japan JPN6: 7F Cross Office Uchisaiwaicho, 1-18-6 Nishi-Shinbashi, Minato-ku, Tokyo JPN7: 2-6, Kasumigaseki 3-chome, Chiyoda-ku, Tokyo Korea (South) KOR1: Chunwoo Building, 4th floor, 534 Itaewon-dong, Yongsan-gu, Seoel, 140-861, Korea, Republic of Notes to the consolidated financial statements for the year ended 31 December 2019 29 Related undertakings (continued) Registered offices KOR2: 206 Noksapyeong-daero, Yongsan-gu, Seoel, Korea, Republic of KOR3: Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea KOR4: 1324 Block A Tera Tower II, 201, Songpa-daero, Songpa-gu, Seoul, 05854 Malaysia MYS1: 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia Mexico MEX1: Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México Morocco MAR1: Forum Bab Abdelaziz au 62, Angle Blvd. d’Anfa, 6ème étage, Apt 61, Casablanca, Morocco New Zealand NZL1: Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand Philippines PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines Poland POL1 św. Antoniego 2/4 50-073, Wrocław,Poland POL2: Natpoll Building, ul. Migdalowa 4/59, 02-796, Warsaw, Poland Russia RUS1: 2nd Syromyatnicheskiy pereulok, house 1, space I, room 13, 105120, Moscow, Russian Federation RUS2: Petrozavodskaya street 28/4, Building VI, room 2, 125475, Moscow, Russian Federation RUS3: Krasnykh Partizan st. 152, Office 505, 350049, Krasnodar, Russian Federation Saudi Arabia SAU1: Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia Singapore SGP1: 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore SGP2: 80 Robinson Road, #02-00, Singapore, 068898, Singapore SGP3: 1 Changi Business Park Crescent, #06-01 Plaza 8 & CBP, Singapore, 48602551, Singapore SGP4: 8 Robinson Road #03-00 ASO Building Singapore 048544 SGP5: 120 Lower Delta Road #12-02, Cendex Centre, Singapore, 169208 South Africa ZAF1: Regus Brooklyn Bridge, 3rd Floor Steven House, Brooklyn Bridge Office Park, Fehrsen Street, Brooklyn, Pretoria ZAF2: Fourways Gold Park, 1st Floor – Wentworth Building, 32 Roos Street, Fourways, 2191, South Africa ZAF3: 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa Spain ESP1: C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona, Spain Switzerland CHE1: Espace de L’Europe 3, 2002 Neuchatel, Switzerland CHE2: Regus Brooklyn Bridge, 3rd Floor Steven House Brooklyn, 570 Fehrsen Street, 0181, Brooklyn, Pretoria, Switzerland Taiwan TWN1: Rm N818, 8F, Chia Hsin Building II, No.9 , Lane 3, Minsheng West Road, Taipei 10449, Taiwan Thailand THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom, Bangrak, Bangkok, 10500, Thailand THA2: 14th Floor, CTI Tower, 191/70-73 Ratchadapisek Road, Khwaeng Klongtoey, Khet, Klongtoey, Bangkok, Thailand THA3: 140/36, New ITF Tower, 17th Floor, Silom Road, Bangrak 10500, Bangkok, Thailand THA4: 2 Ploenchit Centre, Room 7, Floor G., Sukhumvit Road, Klongtoey, Bangkok, 10110, Thailand Registered offices The Netherlands NLD1: Radarweg 29, 1043 NX Amsterdam, Netherlands NLD2: Galileiweg 8, 2333 BD Leiden, Netherlands NLD3: Evert van de Beekstraat 1 The Base 3 / F, 1118CL Schiphol NLD4: Prins Hendrikstraat 17, 7001GK Doetinchem NLD5: Spaklerweg 53, 1114 AE Amsterdam-Duivendrecht Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 ẞiẟli-Maslak, Istanbul, Turkey TUR2: E - 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece ,Istanbul, 34500, Turkey TUR3: Fulya Mah. Hakkı Yeten Cad. No:10/C, Selenium Plaza Kat:5,6 Fulya, Besiktas İstanbul, Turkey United Kingdom GBR1: 1-3 Strand, London, WC2N 5JR, United Kingdom GBR2: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom GBR3: Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom GBR4: Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom GBR5: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom GBR6: The Eye, 1 Procter Street, London, WC1V 6EU, United Kingdom GBR7: The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom GBR8: 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU GBR9: 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW GBR10: 40 Kimbolton Road, Bedford, England, MK40 2NR GBR11: 1000 Lakeside, Western Road, Portsmouth, PO6 3EN, United Kingdom GBR12: 5 Oakwood Drive, Loughborough, England, LE11 3QF GBR13: 28 The Quadrant, Richmond, Surrey, England, TW9 1DN United States USA1: 1007 Church Street, Evanston IL 60201 USA2: 1000 Alderman Dr., Alpharetta, GA 30005 USA3: 230 Park Ave, New York, NY 10169 USA4: 1105 North Market St, Wilmington, DE 19801 USA5: 3355 West Alabama Street, Houston, TX 77098 USA6: Puerta Del Condado #1095, Wilson Ave, Local #3, San Juan, PR 00907 USA7: 313 Washington Street, Suite 400, Newton, MA 02458 USA8: 1209 Orange Street, Wilmington, DE 19801 USA9: 9443 Springboro Pike, Miamisburg, OH 45342 USA10: 15633 Rising River PL N, San Diego, CA 92127-5100 Vietnam VIE1: 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City, Vietnam |
Basis of preparation and acco_2
Basis of preparation and accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Significant Accounting Policies [Abstract] | |
Basis of preparation | Basis of preparation The shares of RELX PLC are traded on the London, Amsterdam and New York stock exchanges. RELX PLC and its subsidiaries, joint ventures and associates are together known as ‘RELX’. In preparing the consolidated financial statements, subsidiaries are accounted for under the acquisition method and investments in associates and joint ventures are accounted for under the equity method. All intra-group transactions and balances are eliminated. On acquisition of a subsidiary, or interest in an associate or joint venture, fair values, reflecting conditions at the date of acquisition, are attributed to the net assets, including identifiable intangible assets acquired. Adjustments are made to bring accounting policies into line with those of the Group. The results of subsidiaries sold or acquired are included in the consolidated financial statements up to or from the date that control passes from or to the Group. Non-controlling interests in the net assets of the Group are identified separately from shareholders’ equity. Non-controlling interests consist of the amount of those interests at the date of the original acquisition and the non-controlling share of changes in equity since the date of acquisition. The Directors of RELX PLC, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the consolidated financial statements for the year ended 31 December 2019. |
Accounting policies | Accounting policies The Group’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and as issued by the International Accounting Standards Board (IASB). The accounting policies under IFRS are included in the relevant notes to the consolidated financial statements. The accounting policies below are applied throughout the financial statements and are unchanged from those applied in preparing the consolidated financial statements for the year ended 31 December 2018. Accounting policy Shares of RELX PLC that are repurchased and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. |
Foreign exchange translation | Foreign exchange translation The consolidated financial statements are presented in sterling. Transactions in foreign currencies are recorded at the rate of exchange prevailing on the date of the transaction. Non-monetary assets and liabilities that are measured at historical cost in foreign currencies are translated using the exchange rate at the date of the transaction. At each statement of financial position date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rate prevailing on the statement of financial position date. Exchange differences arising are recorded in the income statement other than where hedge accounting applies, as set out on pages 157 to 162. Assets and liabilities of foreign operations are translated at exchange rates prevailing on the statement of financial position date. Income and expense items and cash flows of foreign operations are translated at the average exchange rate for the period. Significant individual items of income and expense and cash flows in foreign operations are translated at the rate prevailing on the date of transaction. Exchange differences arising are classified as equity and transferred to the translation reserve. When foreign operations are disposed of, the related cumulative translation differences are recognised within the income statement in the period. The Group uses derivative financial instruments, primarily forward contracts, to hedge its exposure to certain foreign exchange risks. Details of the Group’s accounting policies in respect of derivative financial instruments are set out on page 157. |
Critical judgements and key sources of estimation uncertainty | Critical judgements and key sources of estimation uncertainty The most significant accounting policies in determining the financial condition and results of the Group, and those requiring the most subjective or complex judgement, relate to and are included in the following notes: valuation of goodwill and intangible assets – notes 14 and 15; capitalisation of development spend – note 15; taxation – note 9; and accounting for defined benefit pension schemes – note 6. |
Other significant accounting policies | Other significant accounting policies The accounting policy in respect of revenue recognition is also significant in determining the financial condition and results of the Group. The application of this policy is straightforward, and is included in note 2. 1 Basis of preparation and accounting policies (continued) |
Standards and amendments effective for the year | Standards and amendments effective for the year RELX adopted IFRS 16 Leases for the year ended 31 December 2018, a year earlier than its mandatory effective date. The impact of the adoption of IFRS 16 was reflected in the consolidated financial statements for the year ended 31 December 2018. Other interpretations and amendments to IFRS effective for 2019 have not had a significant impact on the Group’s accounting policies or reporting. |
Standards, amendments and interpretations not yet effective | Standards, amendments and interpretations not yet effective A number of amendments and interpretations have been issued which are not expected to have any significant impact on the accounting policies and reporting. |
Share based remuneration | Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant. Non-market based performance criteria are taken into account when estimating the number of shares expected to vest. The fair value of share based remuneration is determined by use of a binomial or Monte Carlo simulation model as appropriate. All of the Group’s share based remuneration is equity settled. |
Pension accounting policy | Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. The expense of defined contribution pension schemes and other employee benefits is charged in the income statement as incurred. Critical judgement and key source of estimation uncertainty At 31 December 2019, the Group operates defined benefit pension schemes in the UK and the US. These schemes require management to exercise judgement in estimating the ultimate cost of providing post-employment benefits, especially given the length of each scheme’s liabilities. Accounting for defined benefit pension schemes involves judgement about uncertain events, including the life expectancy of the members, salary and pension increases, inflation, the future operation of each scheme and the rate at which the future pension payments are discounted. Estimates for these factors are used in determining the pension cost and liabilities reported in the financial statements. The estimates made around future developments of each of the critical assumptions are made in conjunction with independent actuaries, and each scheme is subject to a periodic review by independent actuaries. Information regarding the more significant assumptions used for valuation is provided below, together with a sensitivity analysis. |
Borrowings accounting policy | Accounting policy Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that takes a substantial period of time to bring to use are capitalised. All other interest on borrowings is expensed as incurred. The cost of issuing borrowings is generally expensed over the period of borrowing so as to produce a constant periodic rate of charge. Accounting policy Borrowings are recorded initially at fair value and subsequently carried at amortised cost, other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk. When the related derivative in such a hedging relationship expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. |
Disposals and other non-operating items accounting policy | Assets of businesses that are available for immediate sale in their current condition and for which a sales process is considered highly probable to complete are classified as assets held for sale and are carried at the lower of carrying value and fair value less costs to sell. Fair value is based on anticipated disposal proceeds, typically derived from firm or indicative offers from potential acquirers. Non-current assets are not amortised or depreciated following their classification as held for sale. Liabilities of businesses held for sale are also separately classified on the statement of financial position. Fair value movements in the venture capital portfolio are reported within disposals and other items – see note 16. |
Taxation accounting policy | Accounting policy Tax expense comprises current and deferred tax. Current and deferred tax are charged or credited in the income statement except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside the income statement (either in other comprehensive income, directly in equity, or through a business combination), in which case the tax appears in the same statement as the transaction that gave rise to it. Current tax is the amount of corporate income taxes expected to be payable or recoverable based on the profit for the period as adjusted for items that are not taxable or not deductible, and is calculated using tax rates and laws that were enacted or substantively enacted at the date of the statement of financial position. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Provisions are established where appropriate on the basis of amounts expected to be paid to the tax authorities. Current tax includes amounts provided in respect of uncertain tax positions when management expects that, upon examination of the uncertainty by a tax authority in possession of all relevant knowledge, it is more likely than not that an economic outflow will occur. Changes in facts and circumstances underlying these provisions are reassessed at the date of each statement of financial position, and the provisions are remeasured as required to reflect current information. Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the statement of financial position. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the end of the reporting period, and which are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled. Deferred tax liabilities are generally recognised for all taxable temporary differences but not recognised for taxable temporary differences arising on investments in subsidiaries, associates and joint ventures where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax liabilities are not recognised on temporary differences that arise from goodwill which is not deductible for tax purposes. Deferred tax assets are recognised to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilised, and are reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are not recognised in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. Critical judgement and key source of estimation uncertainty The Group is subject to tax in numerous jurisdictions, giving rise to complex tax issues that require management to exercise judgement in making tax determinations. As a multinational enterprise, our tax returns in the countries in which we operate are subject to tax authority audits as a matter of routine. While the Group is confident that tax returns are appropriately prepared and filed, amounts are provided in respect of uncertain tax positions that reflect the risk with respect to tax matters under active discussion with tax authorities, or which are otherwise considered to involve uncertainty. Provisions against uncertain tax positions are measured using one of the following methods, depending on which of the methods management expects will better predict the amount it will pay over to the tax authority: ◾ The Single Best Estimate – where there is a single outcome that is more likely than not to occur. This will happen, for example, where the tax outcome is binary (such as whether an entity can deduct an item of expenditure) or the range of possible outcomes is narrow or concentrated on a single value. The most likely outcome may be that no tax is expected to be payable, in which case the provision is nil; or ◾ A Probability-Weighted Expected Value – where, on the balance of probabilities, something will be paid to the tax authority but the possible outcomes are widely dispersed with low individual probabilities (i.e. there is no single outcome more likely than not to occur). In this case, the provision is the sum of the probability-weighted amounts in the range. In assessing provisions against uncertain tax positions, management uses in-house tax experts, professional firms and previous experience to inform the evaluation of risk. However, it remains possible that uncertainties will ultimately be resolved at amounts greater or smaller than the liabilities recorded. In particular, although we report cross-border transactions undertaken between Group subsidiaries on an arm’s-length basis in tax returns in accordance with OECD guidelines, transfer pricing relies on the exercise of judgement and it is frequently possible for there to be a range of legitimate and reasonable views. This means that it is impossible to be certain that the returns basis will be sustained on examination. Discussions with tax authorities relating to cross-border transactions and other matters are ongoing in each of our major trading jurisdictions. Although the timing and amount of final resolution of these uncertain tax positions cannot be reliably predicted, no significant impact on the profitability of the Group is expected in the near term. Estimation of income taxes also includes assessments of the recoverability of deferred tax assets. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment. |
Cash flows accounting policy | Accounting policy Cash and cash equivalents comprise cash balances, call deposits and other short-term highly liquid investments and are held in the statement of financial position at fair value. |
Investments, other than investments in joint ventures and associates, accounting policy | Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Changes in the fair value of investments held as part of the venture capital portfolio are reported in disposals and other non-operating items in the income statement. All items recognised in the income statement relating to investments, other than investments in joint arrangements and associates, are reported as disposals and other non-operating items. Venture capital investments and equity investments represent interests in unlisted securities. The fair value of unlisted securities is based on management’s estimate of fair value based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. Advice from valuation experts is used as appropriate. |
Investments in joint ventures and associates, accounting policy | All joint arrangements are classified as joint ventures because the Group shares joint control and has rights to the net assets of the arrangements. Investments in joint ventures and associates are accounted for under the equity method and stated in the statement of financial position at cost as adjusted for post-acquisition changes in the Group’s share of net assets, less any impairment in value. |
Trade and other payables accounting policy | Accounting policy Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered. |
Lease arrangements accounting policy | Accounting policy All leases where RELX is the lessee (with the exception of short-term and low-value leases) are recognised in the statement of financial position. A lease liability is recognised based on the present value of the future lease payments, and a corresponding right-of-use asset is recognised. The right-of-use asset is depreciated over the shorter of the lease term or the useful life of the asset. Lease payments are apportioned between finance charges and a reduction of the lease liability. Low-value items and short-term leases with a term of 12 months or less are not required to be recognised on the balance sheet and payments made in relation to these leases are recognised on a straight-line basis in the income statement. The leases held by the Group can be split into two categories: property and non-property. The Group leases various properties, principally offices, which have varying terms and renewal rights that are typical to the territory in which they are located. Non-property includes all other leases, such as cars and printers. |
Segments accounting policy | The Group’s reported segments are based on the internal reporting structure and financial information provided to the Board. Adjusted operating profit is the key segmental profit measure used by the Group in assessing performance. Adjusted operating profit is reconciled to operating profit on page 137. |
Revenue accounting policy | Revenue arises from the provision of products and services under contracts with customers. In all cases, revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and is recognised when the customer obtains control of the good or service. Revenue is stated at the transaction price, which includes allowance for anticipated discounts and returns and excludes customer sales taxes and other amounts to be collected on behalf of third parties. Where the goods or services promised within a contract are distinct, they are identified as separate performance obligations and are accounted for separately. Where separate performance obligations are identified, total revenue is allocated on the basis of relative stand-alone selling prices or management’s best estimate of relative value where stand-alone selling prices do not exist. Management estimates may include a cost-plus method or comparable product approach, but must be supported by objective evidence. A residual approach may be applied where it is not possible to derive a reliable management estimate for a specific component. Revenue is recognised for the various categories as follows: ◾ Subscriptions – revenue comprises income derived from the periodic distribution or update of a product. Subscription revenue is generally invoiced in advance and recognised systematically over the period of the subscription. Recognition is either on a straight-line basis where the transaction involves the transfer of goods and services to the customer in a consistent manner over a specific period of time; or based on the value received by the customer where the goods and services are not delivered in a consistent manner. ◾ Transactional – revenue is recognised when control of the product is passed to the customer or the service has been performed. For exhibitions, revenue primarily comprises income from exhibitors and attendees at exhibitions. Exhibition revenue is recognised on occurrence of the exhibition. ◾ Advertising – revenue is recognised on publication or over the period of online display. |
Goodwill accounting policy | Accounting policy On the acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets on a fair value basis, with any excess purchase consideration representing goodwill. Goodwill arising on acquisitions also includes amounts corresponding to deferred tax liabilities recognised in respect of acquired intangible assets. Goodwill is recognised as an asset and reviewed for impairment when there is an indicator that the asset may be impaired and at least annually. Any impairment is recognised immediately in the income statement and not subsequently reversed. On disposal of a subsidiary or business, the attributable amount of goodwill is included in the determination of the profit or loss on disposal. At each statement of financial position date, the carrying amounts of tangible and intangible assets and goodwill are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount, which is the higher of value in use and fair value less costs to sell, of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independent from other assets, value in use estimates are made based on the cash flows of the cash generating unit to which the asset belongs. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is any indication that the asset may be impaired. If the recoverable amount of an asset or cash generating unit is estimated to be less than its net carrying amount, the net carrying amount of the asset or cash generating unit is reduced to its recoverable amount. Impairment losses are recognised immediately in the income statement in administration and other expenses. Critical judgement and key source of estimation uncertainty The carrying amounts of goodwill and indefinite lived intangible assets in each business are reviewed for impairment at least annually. The carrying amounts of all other intangible assets are reviewed where there are indications of possible impairment. An impairment review involves a comparison of the carrying value of the asset with estimated values in use based on the latest management cash flow projections, approved by the Board. Key areas of judgement in estimating the values in use of businesses are the growth in cash flows over a forecast period of up to five years, the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. A description of the key assumptions and sensitivities is provided below. |
Intangible assets accounting policy | Accounting policy Intangible assets acquired as part of a business combination are stated in the statement of financial position at their fair value as at the date of acquisition, less accumulated amortisation. Internally generated intangible assets are stated in the statement of financial position at the directly attributable cost of creation of the asset, less accumulated amortisation. Intangible assets acquired as part of business combinations comprise: market-related assets (e.g. trademarks, imprints, brands); customer-related assets (e.g. subscription bases, customer lists, customer relationships); editorial content; software and systems (e.g. application infrastructure, product delivery platforms, in-process research and development); contract-based assets (e.g. publishing rights, exhibition rights, supply contracts); and other intangible assets. Internally generated intangible assets typically comprise software and systems development where an identifiable asset is created that is probable to generate future economic benefits. Intangible assets, other than journal titles determined to have indefinite lives, are amortised on a straight-line basis over their estimated useful lives. The estimated useful lives of intangible assets with finite lives are as follows: market and customer-related assets – 3 to 40 years; content, software and other acquired intangible assets – 3 to 20 years; and internally developed intangible assets – 3 to 10 years. Journal titles determined to have indefinite lives are not amortised and are subject to impairment review at least annually, including a review of events and circumstances to ensure that they continue to support an indefinite useful life. Critical judgements and key sources of estimation uncertainty On acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets other than goodwill on a fair value basis, with any excess purchase consideration representing goodwill. The valuation of acquired intangible assets represents the estimated economic value in use, using standard valuation methodologies, including as appropriate, discounted cash flow, relief from royalty and comparable market transactions. Acquired intangible assets are capitalised and amortised systematically over their estimated useful lives, subject to impairment review. The assumptions used are subject to management judgement. Appropriate amortisation periods are selected based on assessments of the longevity of the brands and imprints, the strength and stability of customer relationships, the market positions of the acquired assets and the technological and competitive risks that they face. Certain intangible assets in relation to acquired science and medical publishing businesses have been determined to have indefinite lives. The longevity of these assets is evidenced by their long-established and well-regarded journal titles, and their characteristically stable market positions. The assumptions used are subject to management judgement. Development spend encompasses investment in new products and other initiatives, ranging from the building of online delivery platforms, to launch costs of new services, to building new infrastructure and applications. Launch costs and other ongoing operating expenses of new products and services are expensed as incurred. The costs of building product applications, platforms and infrastructure are capitalised as intangible assets, where the investment they represent has demonstrable value and the technical and commercial feasibility is assured. Costs eligible for capitalisation must be incremental, clearly identified and directly attributable to a particular project. The resulting assets are amortised over their estimated useful lives. Impairment reviews are carried out at least annually where indicators of impairment are identified. Judgement is required in the assessment of the potential value of a development project, the identification of costs eligible for capitalisation and the selection of appropriate asset lives. |
Property, plant and equipment accounting policy | Accounting policy Property, plant and equipment are stated in the statement of financial position at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds are depreciated over their estimated useful lives up to a maximum of 50 years. Short leases are written off over the duration of the lease. Depreciation is provided on other assets on a straight-line basis over their estimated useful lives as follows: – land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years; – fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years. |
Financial instruments accounting policy | Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, cash and cash equivalents, payables and accruals, borrowings and derivative financial instruments. Investments (other than investments in joint ventures and associates) are described in note 16. The fair value of such investments is based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. (These investments are typically classified as either Level 2 or 3 in the IFRS 13 fair value hierarchy). Trade receivables are carried in the statement of financial position at invoiced value less allowance for expected credit losses. Expected credit losses are based on the ageing of trade receivables, experience and circumstance. Borrowings and payables are recorded initially at fair value and subsequently carried at amortised cost (other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk). Derivative financial instruments are used to hedge interest rate and foreign exchange risks. Where an effective hedge is in place against changes in the fair value of fixed rate borrowings, the hedged borrowings are adjusted for changes in fair value attributable to the risk being hedged with a corresponding income or expense included in the income statement within finance costs. The offsetting gains or losses from remeasuring the fair value of the related derivatives are also recognised in the income statement within finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. With effect from 1 January 2018, the fair value amounts relating to foreign currency basis spreads are recorded in a separate component of equity in the cost of hedging reserve. If a hedged firm commitment or forecasted transaction results in the recognition of a non-financial asset or liability, then, at the time that the asset or liability is recognised, the associated gains or losses on the derivative that had previously been recognised in other comprehensive income are included in the initial measurement of the asset or liability. For hedges that do not result in the recognition of an asset or a liability, amounts deferred in the hedge reserve are recognised in the income statement in the same period in which the hedged item affects net profit or loss. Any ineffective portion of hedges is recognised immediately in the income statement. Cash flow hedge accounting is discontinued when a hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in other comprehensive income is either retained in the hedge reserve until the firm commitment or forecasted transaction occurs, or, where a hedged transaction is no longer expected to occur, is immediately credited or expensed in the income statement. Derivative financial instruments that are not designated as hedging instruments are recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of derivative financial instruments represent the replacement costs calculated using observable market rates of interest and exchange. The fair value of long-term borrowings is calculated by discounting expected future cash flows at observable market rates. (These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy |
Inventories accounting policy | Accounting policy Inventories and pre-publication costs are stated at the lower of cost, including appropriate attributable overhead, and estimated net realisable value. Such costs typically comprise direct internal labour costs and externally commissioned editorial and other fees. Pre-publication costs, representing costs incurred in the origination of content prior to publication, are expensed systematically reflecting the expected sales profile over the estimated economic lives of the related products, generally up to five years. Annual reviews are carried out to assess the recoverability of carrying amounts. |
Shares held in treasury accounting policy | Accounting policy Shares of RELX PLC that are repurchased and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. |
Revenue and segment analysis (T
Revenue and segment analysis (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Operating Segments [Abstract] | |
Summary of Analysis by Business Segment | ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m Scientific, Technical & Medical 2,637 2,538 2,473 982 942 914 Risk & Business Analytics 2,316 2,117 2,073 853 776 760 Legal 1,652 1,618 1,686 330 320 328 Exhibitions 1,269 1,219 1,109 331 313 287 Sub-total 7,874 7,492 7,341 2,496 2,351 2,289 Unallocated items — — — (5 ) (5 ) (5 ) Total 7,874 7,492 7,341 2,491 2,346 2,284 |
Summary of Classification of Revenue | 2019 Scientific, Technical & Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,182 1,843 1,118 248 4,391 Europe* 635 317 340 508 1,800 Rest of world 820 156 194 513 1,683 Total revenue 2,637 2,316 1,652 1,269 7,874 Revenue by format Electronic 2,214 2,264 1,400 51 5,929 Face-to-face 8 25 9 1,218 1,260 415 27 243 — 685 Total revenue 2,637 2,316 1,652 1,269 7,874 Revenue by type Subscriptions 1,970 872 1,287 — 4,129 Transactional 622 1,428 359 1,269 3,678 Advertising 45 16 6 — 67 Total revenue 2,637 2,316 1,652 1,269 7,874 2 Revenue and segment analysis (continued) * Europe includes revenue of £529m from the UK(2018: £527m; 2017: £521m). 2018 Scientific, Technical & Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,118 1,669 1,083 221 4,091 Europe 611 322 340 535 1,808 Rest of world 809 126 195 463 1,593 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by format Electronic 2,094 2,030 1,338 51 5,513 Face-to-face 7 36 10 1,168 1,221 437 51 270 — 758 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by type Subscriptions 1,877 765 1,247 — 3,889 Transactional 615 1,322 365 1,219 3,521 Advertising 46 30 6 — 82 Total revenue 2,538 2,117 1,618 1,219 7,492 2017 Scientific, Technical & Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,045 1,658 1,145 230 4,078 Europe 617 308 340 429 1,694 Rest of world 811 107 201 450 1,569 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by format Electronic 1,995 1,967 1,384 42 5,388 Face-to-face 10 38 7 1,067 1,122 468 68 295 — 831 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by type Subscriptions 1,776 732 1,291 1 3,800 Transactional 646 1,301 389 1,108 3,444 Advertising 51 40 6 — 97 Total revenue 2,473 2,073 1,686 1,109 7,341 |
Summary of Analysis of Revenue by Geographical Origin | ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2019 £m 2018 £m 2017 £m North America 4,308 4,013 3,998 Europe 2,832 2,790 2,644 Rest of world 734 689 699 Total 7,874 7,492 7,341 Revenue by geographical marked from the United Kingdom in 2019 was £1,320m (201: £1,144m; 2017: £1,085m). |
Summary of Analysis by Business Segment Expenditure | ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and Capital expenditure Amortisation of acquired Depreciation and other intangible assets additions intangible assets amortisation 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m 2019 £m 2018 £m 2017 £m Scientific, Technical & Medical 65 106 94 104 100 95 62 58 77 109 109 100 Risk & Business Analytics 47 852 — 96 92 83 170 161 141 89 73 64 Legal 139 30 6 155 145 153 24 33 52 150 147 142 Exhibitions 251 61 33 26 28 24 39 36 44 41 35 37 Total 502 1,049 133 381 365 355 295 288 314 389 364 343 |
Summary of Analysis of Non-current Assets by Geographical Location | ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION 2019 £m 2018 £m 2017 £m North America 8,365 8,692 7,408 Europe 2,156 1,996 2,016 Rest of world 481 461 459 Total 11,002 11,149 9,883 |
Summary of Reconciliation of Operating Profit to Adjusted Operating Profit | RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2019 £m 2018 £m 2017 £m Operating profit 2,101 1,964 1,905 Adjustments: Amortisation of acquired intangible assets 295 288 314 Acquisition-related costs 84 84 56 Reclassification of tax in joint ventures 12 11 10 Reclassification of finance income in joint ventures (1 ) (1 ) (1 ) Adjusted operating profit 2,491 2,346 2,284 |
Operating profit (Tables)
Operating profit (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Operating Profit [Abstract] | |
Disclosure of Detailed Information About Operating Profit | Operating profit is stated after charging/(crediting) the following: Note 2019 £m 2018 £m 2017 £m Staff costs Wages and salaries 2,116 1,959 1,926 Social security costs 230 215 213 Pensions 6 120 135 95 Share based remuneration 32 41 39 Total staff costs 2,498 2,350 2,273 Depreciation and amortisation Amortisation of acquired intangible assets 15 294 287 313 Share of joint ventures’ amortisation of acquired intangible assets 1 1 1 Amortisation of internally developed intangible assets 15 249 225 203 Depreciation of property, plant and equipment 17 58 62 65 Depreciation of right-of-use assets 82 77 75 Total depreciation and amortisation 684 652 657 Other expenses and income Cost of sales including pre-publication costs and inventory expenses 2,755 2,638 2,628 Operating lease rentals expense 20 18 28 Operating lease rentals income (1 ) (3 ) (3 ) |
Auditor's remuneration (Tables)
Auditor's remuneration (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Auditors Remuneration [Abstract] | |
Disclosure of Detailed Information About Auditors' Remuneration | 2019 £m 2018 £m 2017 £m Auditor’s remuneration Payable to the auditors of RELX PLC 0.8 0.9 0.9 Payable to the auditors of the Group’s subsidiaries 7.4 6.5 5.9 Audit services 8.2 7.4 6.8 Audit-related assurance services 0.6 0.9 0.8 Total audit and audit-related assurance services 8.8 8.3 7.6 Other services: Due diligence and other transaction-related services 0.1 2.7 0.3 Total non-audit related services 0.1 2.7 0.3 Total auditor’s remuneration 8.9 11.0 7.9 Amounts payable to the auditors of the Group’s subsidiaries include amounts for the audit of internal controls over financial reporting in accordance with the US Sarbanes-Oxley Act. Included in audit related assurance services for 2019 are £0.1m in fees for services relating to RELX pension plans (2018: £0.1m). The amounts payable in 2017 to the auditors of RELX PLC also reflect amounts payable to the auditors of RELX NV. The previously reported 2018 fees paid to EY for audit services have been revised to include additional amounts for expenses incurred and final fees for statutory audits which took place subsequent to the audit of the RELX consolidated accounts. |
Personnel (Tables)
Personnel (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Employees [Abstract] | |
Disclosure of Detailed Information About Number of People Employed | NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2019 2018 2017 2019 2018 2017 Business segment Scientific, Technical & Medical 8,100 7,900 7,500 8,000 7,700 7,500 Risk & Business Analytics 9,100 8,700 8,100 9,000 8,600 8,200 Legal 10,600 10,500 10,600 10,600 10,600 10,700 Exhibitions 4,600 4,200 4,000 4,400 4,100 4,000 Sub-total 32,400 31,300 30,200 31,900 31,000 30,400 Corporate/shared functions 800 800 800 800 800 800 Total 33,200 32,100 31,000 32,800 31,800 31,200 Geographical location North America 14,100 13,800 13,500 14,000 13,700 13,600 Europe 9,500 9,200 9,100 9,400 9,200 9,200 Rest of world 9,600 9,100 8,400 9,400 8,900 8,400 Total 33,200 32,100 31,000 32,800 31,800 31,200 The number of UK full-time equivalents as at 31 December 2019 was 5,400 (2018: 5,200; 2017: 5,000) and the average during the year was 5,300 (2018: 5,100; 2017: 5,000). |
Pension schemes (Tables)
Pension schemes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Schedule of Pension Expense Excluding Interest Amounts | The pension expense (excluding interest amounts) recognised in the income statement consists of: 2019 £m 2018 £m 2017 £m Defined benefit pension expense 11 47 4 Defined contribution pension expense 109 95 91 Total 120 142 95 |
Schedule of Defined Benefit Pension Schemes | The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: 2019 2018 2017 UK £m US £m Total £m UK £m US £m Total £m UK £m US £m Total £m Service cost 21 3 24 27 9 36 33 14 47 Settlement and past service (credits)/cost (8 ) (5 ) (13 ) 11 — 11 (42 ) (1 ) (43 ) Defined benefit pension expense 13 (2 ) 11 38 9 47 (9 ) 13 4 Net interest on net defined benefit obligation 9 3 12 6 3 9 10 5 15 Net defined benefit pension expense 22 1 23 44 12 56 1 18 19 |
Summary of Defined Benefit Pension Expense | The significant valuation assumptions, determined for each major scheme in conjunction with the respective independent actuaries, are presented below. The net defined benefit pension expense for each year is based on the assumptions and scheme valuations set at 31 December of the prior year. AS AT 31 DECEMBER 2019 2018 2017 UK US UK US UK US Discount rate 2.05% 3.25% 2.85 % 4.20 % 2.60 % 3.55 % Inflation 2.95% 2.50% 3.15 % 2.50 % 3.15 % 2.50 % |
Summary of Average Life Expectancy Assumptions | Mortality assumptions make allowance for future improvements in longevity and have been determined by reference to applicable mortality statistics. The average life expectancy assumptions are set out below: AS AT 31 DECEMBER 2019 Male average life expectancy Female average life expectancy UK US UK US Member currently aged 60 years 85 86 88 88 Member currently aged 45 years 86 87 89 89 |
Amounts Recognised in the Statement of Financial Position in Respect of Defined Benefit Pension Schemes | The amount recognised in the statement of financial position in respect of defined benefit pension schemes at the start and end of the year and the movements during the year were as follows: 2019 2018 UK £m US £m Total £m UK £m US £m Total £m Defined benefit obligation At start of year (3,772 ) (1,040 ) (4,812 ) (3,854 ) (1,075 ) (4,929 ) Service cost (21 ) (3 ) (24 ) (27 ) (9 ) (36 ) Past service credits/(cost) 8 5 13 (11 ) — (11 ) Interest on pension scheme liabilities (104 ) (42 ) (146 ) (98 ) (38 ) (136 ) Actuarial gain/(loss) on financial assumptions (495 ) (116 ) (611 ) 91 85 176 Actuarial gain/(loss) arising from experience assumptions 22 (5 ) 17 4 2 6 Contributions by employees (9 ) — (9 ) (8 ) — (8 ) Liabilities transferred on settlement — 65 65 — — — Benefits paid 120 77 197 131 56 187 Exchange translation differences — 41 41 — (61 ) (61 ) At end of year (4,251 ) (1,018 ) (5,269 ) (3,772 ) (1,040 ) (4,812 ) Fair value of scheme assets At start of year 3,413 966 4,379 3,589 1,012 4,601 Interest income on plan assets 95 39 134 92 35 127 Return on assets excluding amounts included in interest income 304 166 470 (184 ) (89 ) (273 ) Contributions by employer 66 6 72 39 7 46 Contributions by employees 9 — 9 8 — 8 Assets transferred on settlement — (65 ) (65 ) Benefits paid (120 ) (77 ) (197 ) (131 ) (56 ) (187 ) Exchange translation differences — (40 ) (40 ) — 57 57 At end of year 3,767 995 4,762 3,413 966 4,379 Opening net deficit (359 ) (74 ) (433 ) (265 ) (63 ) (328 ) Service cost (21 ) (3 ) (24 ) (27 ) (9 ) (36 ) Net interest on net defined benefit obligation (9 ) (3 ) (12 ) (6 ) (3 ) (9 ) Settlement and past service credits/(cost) 8 5 13 (11 ) — (11 ) Contributions by employer 66 6 72 39 7 46 Actuarial (losses)/gains (169 ) 45 (124 ) (89 ) (2 ) (91 ) Exchange translation differences — 1 1 — (4 ) (4 ) Net pension obligation (484 ) (23 ) (507 ) (359 ) (74 ) (433 ) Impact of asset ceiling — (13 ) (13 ) — — — Overall net pension obligation (484 ) (36 ) (520 ) (359 ) (74 ) (433 ) |
Summary of Net Pension Obligations and Net Pension Assets | A net pension asset has been recognised in relation to the US funded scheme after considering the guidance in IAS 19 – Employee 6 Pension schemes (continued) Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2019 £m 2018 £m Net pension asset 45 6 Net pension obligation (565 ) (439 ) Overall net pension obligation (520 ) (433 ) |
Amounts Recognised in Statement of Comprehensive Income | Amounts recognised in the statement of comprehensive income are set out below: 2019 £m 2018 £m 2017 £m Gains and losses arising during the year: Experience gains/(losses) on scheme liabilities 17 6 (38 ) Experience gains/(losses) on scheme assets 470 (273 ) 287 Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates (743 ) 242 (102 ) – inflation 142 — 69 – other actuarial assumptions (10 ) (66 ) 17 (124 ) (91 ) 233 Net cumulative losses at start of year (704 ) (613 ) (846 ) Net cumulative losses at end of year (828 ) (704 ) (613 ) |
Summary of Fair Value of Scheme Assets | Additionally a loss of £13m (2018: nil) is recognised in the statement of comprehensive income in relation to the asset ceiling. The major categories and fair values of scheme assets at the end of the reporting period are as follows: FAIR VALUE OF SCHEME ASSETS 2019 2018 UK £m US £m Total £m UK £m US £m Total £m Equities 1,358 126 1,484 1,128 115 1,243 Liability matching assets 1,414 850 2,264 1,363 831 2,194 Property funds and ground leases 715 — 715 723 — 723 Direct lending 182 — 182 151 — 151 Cash and cash equivalents 75 13 88 26 4 30 Other 32 6 29 22 16 38 Total 3,767 995 4,762 3,413 966 4,379 |
Sensitivity Analysis of Actuarial Assumptions | In particular, changes in assumptions for discount rates, inflation and life expectancies that are reasonably possible would have the following approximate effects on the defined benefit pension obligations: £m Increase/decrease of 0.25% in discount rate 228 Increase/decrease of 0.25% in the expected inflation rate 105 Increase/decrease of one year in assumed life expectancy 193 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net Finance Costs [Abstract] | |
Summary of Net Finance Costs | 2019 £m 2018 £m 2017 £m Interest on short-term bank loans, overdrafts and commercial paper (20 ) (22 ) (10 ) Interest on term debt (266 ) (161 ) (154 ) Interest on lease liabilities (15 ) (14 ) (17 ) Total borrowing costs (301 ) (197 ) (181 ) Losses on loans and derivatives not designated as hedges — (10 ) (9 ) Fair value losses on designated fair value hedge relationships — (1 ) — Net financing charge on defined benefit pension schemes (13 ) (9 ) (15 ) Finance costs (314 ) (217 ) (205 ) Interest on bank deposits 3 4 3 Interest income on net finance lease receivables 2 2 2 Fair value gains on designated fair value hedge relationships 1 — 1 Gains on loans and derivatives not designated as hedges 3 — — Finance income 9 6 6 Net finance costs (305 ) (211 ) (199 ) |
Disposals and other non-opera_2
Disposals and other non-operating items (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |
Summary of Disposals and Other Non-operating Items | 2019 £m 2018 £m 2017 £m Revaluation of investments 25 (11 ) 5 Gain/(loss) on disposal of businesses and assets held for sale 26 (22 ) 10 Net gain/(loss) on disposals and other non-operating items 51 (33 ) 15 |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Major Components Of Tax Expense Income [Abstract] | |
Summary of Tax Expense | 2019 £m 2018 £m 2017 £m Current tax United Kingdom (141 ) (71 ) (104 ) Rest of world (241 ) (226 ) (335 ) Total current tax charge (382 ) (297 ) (439 ) Deferred tax 44 5 374 Tax expense (338 ) (292 ) (65 ) |
Weighted Average of Tax Rates Applicable to Accounting Profits and Losses | The net tax expense charged on profit before tax differs from the theoretical amount that would arise using the weighted average of tax rates applicable to accounting profits and losses of the consolidated entities, as follows: 2019 2018 2017 £m % £m % £m % Profit before tax 1,847 1,720 1,721 Tax at average applicable rates (418 ) 22.6 % (361 ) 21.0 % (407 ) 23.6 % Tax effect of share of results of joint ventures 10 (0.5 )% 8 (0.5 )% 7 (0.4 )% Expenses not deductible for tax purposes (3 ) 0.2 % (24 ) 1.4 % (15 ) 0.9 % Non-deductible costs of share based remuneration (1 ) 0.1 % (1 ) 0.1 % (1 ) 0.1 % Non-deductible disposal-related gains and losses 4 (0.2 )% — 0.0 % (36 ) 2.1 % Deferred tax assets of the period not recognised (15 ) 0.8 % (24 ) 1.4 % (10 ) 0.6 % Change in recognition of deferred tax assets or liabilities 12 (0.6 )% (15 ) 0.9 % 16 (0.9 )% Other adjustments in respect of prior periods 73 (4.0 )% 13 (0.8 )% 35 (2.1 )% Exceptional tax credit — — 112 (6.5 )% 346 (20.1 )% Tax expense (338 ) 18.3 % (292 ) 17.0 % (65 ) 3.8 % |
Tax Recognised in Other Comprehensive Income or Directly in Equity | The following tax has been recognised in other comprehensive income or directly in equity during the year: 2019 £m 2018 £m 2017 £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes 23 15 (59 ) Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges (8 ) 9 (30 ) Net tax credit/(debit) recognised in other comprehensive income 15 24 (89 ) Tax credit/(debit) on share based remuneration recognised directly in equity 6 (3 ) 8 2019 £m 2018 £m Deferred tax assets 239 455 Deferred tax liabilities (593 ) (830 ) Total (354 ) (375 ) |
Movements in Deferred Tax Liabilities and Assets | Movements in deferred tax liabilities and assets (before taking into consideration the offsetting of balances within the same jurisdiction) are summarised as follows: Deferred tax liabilities Deferred tax assets Excess of tax allowances over amortisation £m Acquired intangible assets £m Other temporary differences £m Excess of amortisation over tax allowances £m Tax losses carried forward £m Pension balances £m Other temporary differences £m Total £m Deferred tax (liability)/asset at 1 January 2018 (267 ) (426 ) (302 ) 257 87 66 278 (307 ) Credit/(charge) to profit 75 13 13 (51 ) (32 ) 3 (16 ) 5 Credit/(charge) to equity/other comprehensive income — — — — — 15 (3 ) 12 Acquisitions — (88 ) — — 37 — — (51 ) Exchange translation differences (12 ) (26 ) (17 ) 1 4 2 14 (34 ) Deferred tax (liability)/asset at 1 January 2019 (204 ) (527 ) (306 ) 207 96 86 273 (375 ) Credit/(charge) to profit 48 9 19 (19 ) (18 ) (2 ) 7 44 Credit/(charge) to equity/other comprehensive income — — (17 ) — — 13 10 6 Acquisitions — (44 ) 0 — — — — (44 ) Exchange translation differences 6 19 14 (9 ) (3 ) (1 ) (11 ) 15 Deferred tax (liability)/asset at 31 December 2019 (150 ) (543 ) (290 ) 179 75 96 279 (354 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Share | EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2019 2018 2017 Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Basic earnings per share 1,505 1,943.5 77.4p 1,422 1,977.2 71.9p 1,648 2,019.4 81.6p Diluted earnings per share 1,505 1,956.2 76.9p 1,422 1,990.8 71.4p 1,648 2,035.2 81.0p The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. |
Summary of Adjusted Earnings Per Share | ADJUSTED EARNINGS PER SHARE 2019 2018 2017 Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted earnings per share 1,808 1,943.5 93.0p 1,674 1,977.2 84.7p 1,620 2,019.4 80.2p |
Summary of Reconciliation of Adjusted Net Profit Attributable to Parent | RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC SHAREHOLDERS 2019 £m 2018 £m 2017 £m Net profit attributable to RELX PLC shareholders 1,505 1,422 1,648 Adjustments (post-tax): Amortisation of acquired intangible assets 321 322 356 Acquisition-related costs 69 71 43 Net interest on defined benefit pension obligations and other 10 7 11 Disposals and other non-operating items (40 ) 19 1 Other deferred tax credits from intangible assets* (57 ) (55 ) (93 ) Exceptional tax credit — (112 ) (346 ) Adjusted net profit attributable to RELX PLC shareholders 1,808 1,674 1,620 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. |
Statement of cash flows (Tables
Statement of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Schedule of Reconciliation of Profit Before Tax to Cash Generated from Operations | RECONCILIATION OF PROFIT BEFORE TAX TO CASH GENERATED FROM OPERATIONS 2019 £m 2018 £m 2017 £m Operating profit 2,101 1,964 1,905 Share of results of joint ventures (41 ) (32 ) (37 ) Amortisation of acquired intangible assets 294 287 313 Amortisation of internally developed intangible assets 249 225 203 Depreciation of property, plant and equipment 58 62 65 Depreciation of right of use assets 82 77 75 Share based remuneration 32 41 39 Total non-cash items 715 692 695 (Increase)/decrease in inventories and pre-publication costs (14 ) (7 ) 2 (Increase)/decrease in receivables (116 ) (89 ) 37 Increase/(decrease) in payables 79 27 (76 ) Increase in working capital (51 ) (69 ) (37 ) Cash generated from operations 2,724 2,555 2,526 |
Schedule of Cash Flow on Acquisitions | CASH FLOW ON ACQUISITIONS Note 2019 £m 2018 £m 2017 £m Purchase of businesses 12 (399 ) (919 ) (117 ) Investment in joint ventures — — (1 ) Deferred payments relating to prior year acquisitions (24 ) (16 ) (13 ) Total (423 ) (935 ) (131 ) |
Schedule of Reconciliation of Net Borrowings | RECONCILIATION OF NET BORROWINGS Cash and cash equivalents £m Borrowings £m Related derivative financial instruments £m Finance lease receivable £m 2019 £m 2018 £m 2017 £m At start of year 114 (6,365 ) 25 49 (6,177 ) (5,042 ) (5,050 ) Increase/(decrease) in cash and cash equivalents 27 — — — 27 1 (45 ) (Increase)/decrease in short-term bank loans, overdrafts and commercial paper — (98 ) — — (98 ) (147 ) 148 Issuance of term debt — (729 ) — — (729 ) (958 ) (873 ) Repayment of term debt — 617 — — 617 211 712 Repayment of leases — 102 — (16 ) 86 81 78 Change in net borrowings resulting from cash flows 27 (108 ) — (16 ) (97 ) (812 ) 20 Borrowings in acquired businesses — (6 ) — — (6 ) (12 ) — Remeasurement and derecognition of leases — (28 ) — — (28 ) (12 ) (6 ) Inception of leases — (62 ) — 2 (60 ) (28 ) (36 ) Fair value and other adjustments to borrowings and related derivatives — (123 ) 29 — (94 ) (25 ) (11 ) Exchange translation differences (3 ) 278 (2 ) (2 ) 271 (246 ) 41 At end of year 138 (6,414 ) 52 33 (6,191 ) (6,177 ) (5,042 ) |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Business Combinations [Abstract] | |
Summary of Consideration Paid for Acquiring Assets and Liabilities | Provisional fair values of the consideration given and of the assets and liabilities acquired are summarised below. Fair value 2019 £m Fair value 2018 £m Fair value 2017 £m Goodwill 257 626 77 Intangible assets 245 423 56 Property, plant and equipment 1 5 — Current assets 20 24 3 Non-current assets 4 12 — Current liabilities (53 ) (72 ) (16 ) Borrowings (6 ) (12 ) — Deferred tax (44 ) (51 ) (2 ) Net assets acquired 424 955 118 Consideration (after taking account of £32m (2018: £27m; 2017: £7m) net cash acquired) 424 955 118 Less: consideration deferred to future years (10 ) (36 ) (1 ) Less: acquisition date fair value of equity interest (15 ) — — Net cash flow 399 919 117 |
Equity dividends (Tables)
Equity dividends (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Reconciliation Of Number Of Shares Outstanding [Abstract] | |
Summary of Ordinary Dividends Paid | ORDINARY DIVIDENDS PAID IN THE YEAR 2019 £m 2018 £m 2017 £m RELX PLC 842 420 400 RELX NV — 376 362 Total 842 796 762 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract] | |
Disclosure Of Reconciliation Of Changes In Goodwill | A description of the key assumptions and sensitivities is provided below. 2019 £m 2018 £m At start of year 6,899 5,965 Acquisitions 257 626 Disposals/reclassified as held for sale (64 ) (25 ) Exchange translation differences (268 ) 333 At end of year 6,824 6,899 |
Summary of Breakdown of Goodwill into Cash Generating Units | GOODWILL 2019 £m 2018 £m Scientific, Technical & Medical 1,594 1,620 Risk & Business Analytics 3,186 3,283 Legal 1,428 1,465 Exhibitions 616 531 Total 6,824 6,899 |
Key Assumptions Used for Each Group of Cash Generating Units | The key assumptions used for each group of cash generating units are disclosed below: KEY ASSUMPTIONS 2019 2018 Pre-tax discount rate Nominal long-term market growth rate Pre-tax discount rate Nominal long-term market growth rate Scientific, Technical & Medical 9.4 % 3 % 10.0 % 3 % Risk & Business Analytics 10.0 % 3 % 11.5 % 3 % Legal 10.6 % 2 % 12.2 % 2 % Exhibitions 11.6 % 3 % 12.7 % 3 % |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Intangible Assets [Abstract] | |
Summary of Intangible Assets | Market and customer- related £m Content, software and other £m Total acquired intangible assets £m Internally developed intangible assets £m Total £m Cost At 1 January 2018 3,519 3,492 7,011 2,691 9,702 Acquisitions 310 113 423 — 423 Additions — — — 304 304 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (148 ) (174 ) Exchange translation differences 211 130 341 99 440 At 1 January 2019 4,025 3,724 7,749 2,946 10,695 Acquisitions 161 84 245 — 245 Additions — — — 333 333 Disposals/reclassified as held for sale (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (158 ) (116 ) (274 ) (108 ) (382 ) At 31 December 2019 4,000 3,635 7,635 3,041 10,676 Accumulated amortisation At 1 January 2018 1,907 3,046 4,953 1,555 6,508 Charge for the year 169 118 287 225 512 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (111 ) (137 ) Exchange translation differences 105 113 218 60 278 At 1 January 2019 2,166 3,266 5,432 1,729 7,161 Charge for the year 182 112 294 249 543 Disposals/reclassified as held for sale (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (91 ) (103 ) (194 ) (71 ) (265 ) At 31 December 2019 2,229 3,218 5,447 1,777 7,224 Net book amount At 31 December 2018 1,859 458 2,317 1,217 3,534 At 31 December 2019 1,771 417 2,188 1,264 3,452 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Investments [Abstract] | |
Summary of Investments | 2019 £m 2018 £m Investments in joint ventures 118 104 Venture capital investments 133 151 Total 251 255 |
Summary of Analysis of Changes in Carrying Value of Investments in Joint Ventures | An analysis of changes in the carrying value of investments in joint ventures is set out below: 2019 £m 2018 £m At start of year 104 102 Share of results of joint ventures 41 32 Dividends received from joint ventures (34 ) (30 ) Additions 24 2 Disposals (11 ) — Exchange translation differences (6 ) (2 ) At end of year 118 104 |
Summary of Group's Share of Joint Ventures | Summarised aggregate information in respect of the Group’s share of joint ventures is set out below: RELX’s share 2019 £m 2018 £m Revenue 123 101 Net profit for the year 41 32 Total assets 112 96 Total liabilities (58 ) (49 ) Net assets 54 47 Goodwill 64 57 Total 118 104 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Property, Plant and Equipment | 2019 2018 Land and buildings £m Fixtures and equipment £m Total £m Land and buildings £m Fixtures and equipment £m Total £m Cost At start of year 223 640 863 217 599 816 Acquisitions 1 — 1 — 5 5 Capital expenditure 5 42 47 5 51 56 Disposals/reclassified as held for sale (8 ) (59 ) (67 ) (8 ) (40 ) (48 ) Exchange translation differences (8 ) (21 ) (29 ) 9 25 34 At end of year 213 602 815 223 640 863 Accumulated depreciation At start of year 146 519 665 137 485 622 Charge for the year 9 49 58 9 53 62 Disposals/reclassified as held for sale (7 ) (59 ) (66 ) (6 ) (40 ) (46 ) Exchange translation differences (5 ) (17 ) (22 ) 6 21 27 At end of year 143 492 635 146 519 665 Net book amount 70 110 180 77 121 198 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Financial Instruments [Abstract] | |
Summary of Remaining Contractual Maturities for Borrowings and Derivative Financial Instruments | The table shows undiscounted principal and interest cash flows and includes contractual gross cash flows to be exchanged as part of cross-currency interest rate swaps and forward foreign exchange contracts where there is a legal right of set-off. AT 31 DECEMBER 2019 Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (5,293 ) (1,332 ) (528 ) (134 ) (732 ) (498 ) (2,791 ) (6,015 ) Floating rate borrowings (779 ) (779 ) — — — — — (779 ) Lease liabilities (342 ) (104 ) (92 ) (62 ) (50 ) (32 ) (48 ) (388 ) Derivative financial liabilities Interest rate derivatives (4 ) (1 ) — — — (1 ) (2 ) (4 ) Cross-currency interest rate swaps (1 ) (41 ) (16 ) (16 ) (35 ) (15 ) (512 ) (635 ) Forward foreign exchange contracts (29 ) (1,984 ) (351 ) (179 ) (34 ) 0 0 (2,548 ) Derivative financial assets Interest rate derivatives 35 19 10 8 8 3 — 48 Cross-currency interest rate swaps 14 31 7 7 26 7 515 593 Forward foreign exchange contracts 32 1,977 354 185 35 — — 2,551 Total (6,367 ) (2,214 ) (616 ) (191 ) (782 ) (536 ) (2,838 ) (7,177 ) AT 31 DECEMBER 2018 Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (5,315 ) (752 ) (610 ) (552 ) (879 ) (732 ) (2,555 ) (6,080 ) Floating rate borrowings (690 ) (686 ) — — — — (4 ) (690 ) Lease liabilities (360 ) (104 ) (92 ) (75 ) (47 ) (30 ) (63 ) (411 ) Derivative financial liabilities Interest rate derivatives (15 ) (2 ) (2 ) (2 ) (2 ) (3 ) (8 ) (19 ) Cross-currency interest rate swaps (1 ) (48 ) (21 ) (21 ) (21 ) (39 ) (557 ) (707 ) Forward foreign exchange contracts (53 ) (1,498 ) (375 ) (181 ) (25 ) — — (2,079 ) Derivative financial assets Interest rate derivatives 21 12 13 3 1 5 3 37 Cross-currency interest rate swaps 13 33 8 8 8 25 553 635 Forward foreign exchange contracts 13 1,473 361 173 26 — — 2,033 Total (6,387 ) (1,572 ) (718 ) (647 ) (939 ) (774 ) (2,631 ) (7,281 ) |
Summary of Cash Flow Hedges | The table below details the designated fair value hedge relationships that were in place at 31 December 2019, swapping fixed rate term debt issues denominated in US dollars (USD) and euros to floating rate USD and euro debt respectively for the whole or part of their term, together with the related fixed and floating rates. FAIR VALUE HEDGE RELATIONSHIPS 31 December 2019 Principal amount £m 31 December 2018 Principal amount £m Fixed rate Floating rate €550m loan notes and €550m interest rate swaps maturing 2020 (466 ) (494 ) 2.5 % LIBOR+ 1.1% €500m bond and €500m interest rate swaps maturing 2021 (423 ) (449 ) 0.4 % LIBOR+ 0.3% $700m bond and $700m interest rate swaps maturing 2023 (528 ) (549 ) 3.5 % LIBOR+ 0.8% €500m bond and €500m interest rate swaps maturing 2024 (423 ) (449 ) 1.0 % LIBOR+ 0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (505 ) (525 ) 1.3 % LIBOR+ 1.3% $200m bond and $200m interest rate swaps maturing 2027 (151 ) (157 ) 7.2 % LIBOR+ 5.8% (2,496 ) (2,623 ) |
Summary of Gains and Losses on the Borrowings and Related Derivatives Designated as Fair Value Hedges | The gains and losses on the borrowings and related derivatives designated as fair value hedges, which are included in the income statement as part of finance costs, together with the total carrying values of the borrowings and related derivatives included in the statement of financial position, for the three years ended 31 December 2019, 2018 and 2017 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2019 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2019 £m Carrying values £m USD debt 13 (26 ) — (13 ) (699 ) Related interest rate swaps (14 ) 27 — 13 13 (1 ) 1 — — (686 ) EUR debt (39 ) (2 ) 2 (39 ) (1,853 ) Related interest rate swaps 39 2 (2 ) 39 39 — — — — (1,814 ) Total relating to USD and EUR debt (26 ) (28 ) 2 (52 ) (2,552 ) Total related interest rate swaps 25 29 (2 ) 52 52 Net loss on borrowings and related derivatives/total carrying value (1 ) 1 — — (2,500 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2018 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2018 £m Carrying values £m USD debt 12 — 1 13 (701 ) Related interest rate swaps (12 ) (1 ) (1 ) (14 ) (14 ) — (1 ) — (1 ) (715 ) EUR debt (17 ) (21 ) (1 ) (39 ) (1,952 ) Related interest rate swaps 17 21 1 39 39 — — — — (1,913 ) Total relating to USD and EUR debt (5 ) (21 ) — (26 ) (2,653 ) Total related interest rate swaps 5 20 — 25 25 Net loss on borrowings and related derivatives/total carrying value — (1 ) — (1 ) (2,628 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2017 £m Fair value movement gain/(loss) £m De-designated £m Exchange gain/(loss) £m 31 December 2017 £m Carrying values £m USD debt 16 (1 ) (2 ) (1 ) 12 (147 ) Related interest rate swaps (16 ) 1 2 1 (12 ) (12 ) — — — — — (159 ) EUR debt (33 ) 17 — (1 ) (17 ) (1,922 ) Related interest rate swaps 32 (16 ) — 1 17 17 (1 ) 1 — — — (1,905 ) Total relating to USD and EUR debt (17 ) 16 (2 ) (2 ) (5 ) (2,069 ) Total related interest rate swaps 16 (15 ) 2 2 5 5 Net (loss)/gain on borrowings and related derivatives/total carrying value (1 ) 1 — — — (2,064 ) |
Summary of Movements in the Hedge Reserve Including Gains and Losses on Cash Flow Hedging Instruments | Movements in the hedge reserve in 2018 and 2019 and, with effect from 1 January 2018, the cost of hedging reserve, including gains and losses on cash flow hedging instruments, were as follows: Interest rate hedge reserve £m Cost of hedging reserve £m Foreign currency hedge reserve £m Total £m Hedge reserve at 31 December 2017: gains/(losses) deferred 5 — (7 ) (2 ) Reclassification on 1 January 2018 (1 ) 1 — — Losses arising in 2018 — (8 ) (51 ) (59 ) Amounts recognised in income statement (3 ) — 20 17 Exchange translation differences — — — — Hedge reserve at 31 December 2018: gains/(losses) deferred 1 (7 ) (38 ) (44 ) Losses arising in 2019 (1 ) — 17 16 Amounts recognised in income statement — — 35 35 Hedge reserve at 31 December 2019: (losses)/gains deferred — (7 ) 14 7 |
Summary of Deferred Gains and Losses on Cash Flow Hedges Currently Expected to Recognised in Future Period | The deferred gains and losses on foreign currency cash flow hedges at 31 December 2019 are currently expected to be recognised in the income statement in future years as shown in the table below, together with the principal amount of hedges relating to each year and their total carrying values included within derivative assets and liabilities in the statement of financial position: Foreign currency hedge reserve £m Principal amount of hedges £m Carrying values £m 2020 7 502 5 2021 2 394 2 2022 4 221 4 2023 1 34 1 Total 14 1,151 12 |
Inventories and pre-publicati_2
Inventories and pre-publication costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Information About Inventories Explanatory [Abstract] | |
Summary of Inventories and Pre-Publication Costs | 2019 £m 2018 £m Raw materials 2 2 Pre-publication costs 181 171 Finished goods 34 39 Total 217 212 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Trade And Other Receivables [Abstract] | |
Summary of Trade and Other Receivables | 2019 £m 2018 £m Trade receivables 1,858 1,829 Loss allowance (88 ) (87 ) 1,770 1,742 Prepayments and accrued income 236 224 Tax receivable 28 — Net finance lease receivable 33 49 Total 2,067 2,015 |
Summary of Movements in Loss Allowance for Expected Credit Losses | Trade receivables are stated net of a loss allowance for expected credit losses. The movements in the loss allowance during the year were as follows: 2019 £m 2018 £m At start of year 87 79 Charge for the year 8 14 Trade receivables written off (4 ) (8 ) Exchange translation differences (3 ) 2 At end of year 88 87 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Trade And Other Payables [Abstract] | |
Summary of Trade and Other Payables | 2019 £m 2018 £m Trade payables 173 187 Accruals 684 711 Social security and other taxes 129 127 Other payables 422 407 Deferred income 2,071 2,000 Total 3,479 3,432 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Borrowings By Type [Abstract] | |
Summary of types of Borrowings both Current and Non-current | 2019 2018 Falling due within 1 year £m Falling due in more than 1 year £m Total £m Falling due within 1 year £m Falling due in more than 1 year £m Total £m Financial liabilities measured at amortised cost: Short-term bank loans, overdrafts and commercial paper 779 — 779 686 — 686 Term debt 716 1,792 2,508 614 1,808 2,422 Lease liabilities 93 249 342 92 268 360 Term debt in fair value hedging relationships 472 2,080 2,552 — 2,652 2,652 Term debt previously in fair value hedging relationships — 233 233 — 245 245 Total 2,060 4,354 6,414 1,392 4,973 6,365 |
Summary of Repayment Years for Borrowings | Analysis by year of repayment 2019 2018 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Within 1 year 779 1,188 93 2,060 686 614 92 1,392 Within 1 to 2 years — 425 87 512 — 508 87 595 Within 2 to 3 years — 33 57 90 — 451 70 521 Within 3 to 4 years — 658 47 705 — 688 42 730 Within 4 to 5 years — 433 29 462 — 669 27 696 After 5 years — 2,556 29 2,585 — 2,389 42 2,431 After 1 year — 4,105 249 4,354 — 4,705 268 4,973 Total 779 5,293 342 6,414 686 5,319 360 6,365 |
Analysis of Borrowings by Currency | Analysis by currency 2019 2018 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m US dollars 309 2,915 168 3,392 19 2,493 177 2,689 £ sterling — — 71 71 317 300 66 683 Euro 423 2,378 70 2,871 318 2,526 85 2,929 Other currencies 47 — 33 80 32 — 32 64 Total 779 5,293 342 6,414 686 5,319 360 6,365 |
Lease arrangements (Tables)
Lease arrangements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Presentation Of Leases For Lessee [Abstract] | |
Summary of Right of Use Assets | Right-of-use assets Property £m Non- property £m 2019 £m Property £m Non- property £m 2018 £m At start of year 246 17 263 264 23 287 Additions 57 5 62 26 5 31 Acquisitions 4 — 4 7 5 12 Remeasurement 29 — 29 13 — 13 Disposals (2 ) (1 ) (3 ) (2 ) (8 ) (10 ) Depreciation (74 ) (8 ) (82 ) (68 ) (9 ) (77 ) Exchange translation differences (9 ) — (9 ) 6 1 7 At end of year 251 13 264 246 17 263 |
Summary of Lease Liability | Lease liability 2019 £m 2018 £m Current Property (87 ) (83 ) Non-property (6 ) (9 ) Non-current Property (242 ) (260 ) Non-property (7 ) (8 ) Total (342 ) (360 ) |
Summary of Finance Lease Receivable | RELX subleases vacant space available within its leased properties. IFRS 16 specifies conditions whereby a sublease is classed as a finance lease for the sub-lessor. The finance lease receivable balance held is as follows: 2019 £m 2018 £m Net finance lease receivable 33 49 |
Share capital, share premium _2
Share capital, share premium and shares held in treasury (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Summary of Share Capital | RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2019 £m No. of shares 2018 £m At start of year 2,011,043,101 290 1,123,682,106 162 Issue of ordinary shares 3,059,558 1 1,580,885 — Issue of bonus share 1 — — — Issue of ordinary shares in exchange for RELX NV shares — — 930,780,110 134 Cancellation of shares (33,300,001 ) (5 ) (45,000,000 ) (6 ) At end of year 1,980,802,659 286 2,011,043,101 290 NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2019 Shares in issue net of treasury shares (millions) 2018 Shares in issue net of treasury shares (millions) RELX PLC At start of year 2,011.0 (49.1 ) 1,961.9 1,060.1 Issue of ordinary shares 3.1 — 3.1 1.6 Issue of ordinary shares in exchange for RELX NV shares — — — 927.3 Repurchase of ordinary shares — (33.5 ) (33.5 ) (26.9 ) Net release/(purchase) of shares by the Employee Benefit Trust — 0.4 0.4 (0.2 ) Cancellation of shares (33.3 ) 33.3 — — At end of year 1,980.8 (48.9 ) 1,931.9 1,961.9 |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Other Reserves [Abstract] | |
Summary of Other Reserves | Hedge reserve 2019 £m Other reserves 2019 £m Total 2019 £m Total 2018 £m At start of year (36 ) 1,020 984 425 Profit attributable to RELX PLC shareholders — 1,505 1,505 1,422 Dividends paid — (842 ) (842 ) (796 ) Actuarial (losses)/gains on defined benefit pension schemes — (137 ) (137 ) (91 ) Fair value movements on cash flow hedges 16 — 16 (59 ) Transfer to net profit from cash flow hedge reserve 35 — 35 17 Tax recognised in other comprehensive income (8 ) 22 15 24 Increase in share based remuneration reserve (net of tax) — 33 33 35 Bonus issue of ordinary shares — (4,000 ) (4,000 ) — Cancellation of bonus shares — 4,000 4,000 — Issue of ordinary shares, net of expenses — — — (227 ) Cancellation of shares — (499 ) (499 ) 262 Settlement of share awards — (33 ) (33 ) (35 ) Put option — (103 ) (103 ) — Disposal of non-controlling interests — 5 5 — Exchange translation differences — — — 7 At end of year 7 972 979 984 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Key Management Personnel Remuneration | KEY MANAGEMENT PERSONNEL REMUNERATION 2019 £m 2018 £m 2017 £m Salaries, other short-term employee benefits and non-executive fees 7 7 5 Post-employment benefits 1 1 1 Share based remuneration* 7 7 8 Total 15 15 14 |
Summary of Executive Directors Remuneration | EXECUTIVE DIRECTORS Salary £’000 Benefits £’000 Annual incentive £’000 Cost of share based remuneration* £’000 Cost of pension provision*£’000 Total £’000 Total Executive Directors 2019 1,984 101 3,038 7,343 725 13,191 2018 1,935 99 3,033 7,003 741 12,811 2017 1,889 101 1,964 8,205 983 13,142 |
Summary of Non-Executive Directors Remuneration | NON-EXECUTIVE DIRECTORS 2019 £’000 2018 £’000 2017 £’000 Fees and benefits 1,569 1,634 1,396 |
Exchange rates (Tables)
Exchange rates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Foreign Exchange Rates [Abstract] | |
Summary of Exchange Rates in Preparing Consolidated Statements | The following exchange rates have been applied in preparing the consolidated financial statements: Income statement Statement of financial position 2019 2018 2017 2019 2018 Euro to sterling 1.14 1.13 1.14 1.18 1.11 US dollar to sterling 1.28 1.34 1.29 1.33 1.27 |
Related undertakings (Tables)
Related undertakings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Full List of Related Undertakings | A full list of related undertakings (comprising subsidiaries, joint ventures, associates and other significant holdings) is set out below. All are 100% owned directly or indirectly by the Group except where percentage ownership denoted in (x%). Company name Share class Reg office Australia Elsevier (Australia) Pty Ltd Ordinary AUS3 Fair Events Pty Ltd (49%) Ordinary AUS2 Fitness Show Pty Ltd Ordinary AUS4 Reed Business Information (Australia) Pty Ltd Ordinary AUS1 Reed Exhibitions Australia Pty Ltd Ordinary AUS3 Reed International Books Australia Pty Ltd Ordinary AUS3 Reed Oz Comic-Con Pty Ltd Ordinary AUS3 RELX Australia Pty Ltd Ordinary AUS3 Symbiotic Technologies Operation Pty Ltd Ordinary AUS5 ThreatMetrix Pty Ltd Ordinary AUS5 Austria Expoxx Messebau GmbH Registered Capital AUT1 LexisNexis Verlag ARD ORAC GmbH & Co KG Registered Capital AUT2 ORAC Gesellschaft m.b.H. Registered Capital AUT2 Reed CEE GmbH Registered Capital AUT1 Reed Messe Salzburg GmbH Registered Capital AUT3 Reed Messe Wien GmbH Registered Capital AUT1 RELX Austria GmbH Registered Capital AUT3 System StandBau GmbH Registered Capital AUT3 Belgium First 4 Farming Europe NV Ordinary BEL2 LexisNexis BVBA Ordinary BEL1 Brazil Elsevier Editora Ltda Quotas BRA1 Fircosoft Brazil Consultoria e Servicos de Informatica Ltda Ordinary BRA2 LexisNexis Informações e Sistemas Empresariais Ltda Quotas shares BRA6 LexisNexis Serviços de Análise de Risco Ltda Quotas shares BRA3 MLex Brasil Midia Mercadologica Ltda (91%) Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas shares BRA3 SST Software do Brasil Ltda Ordinary BRA5 Canada LexisNexis Canada Inc Class B ordinary CAN1 RELX Canada Ltd Common shares CAN3 Science-Metrix Inc Common shares CAN4 ThreatMetrix (Canada) Inc Common shares CAN2 China Beijing Bakery China Exhibitions Co., Ltd (25%) Registered Capital CHN1 Beijing Medtime Elsevier Education Technology Co., Ltd (49%) Registered Capital CHN2 C-One Energy Co., Ltd Registered Capital CHN5 Genilex Information Technology Co., Ltd Registered Capital CHN6 ICIS Consulting (Beijing) Co., Ltd Registered Capital CHN7 KeAi Communications Co., Ltd (49%) Registered Capital CHN8 LexisNexis Risk Solutions (Shanghai) Information Registered Capital CHN9 Technologies Co., Ltd Mack Brooks (Shanghai) Ltd Registered Capital CHN18 Reed Business Information (Shanghai) Co Ltd Registered Captial CHN17 Reed Elsevier Information Technology (Beijing) Co., Ltd Registered Capital CHN3 Reed Exhibitions (China) Co., Ltd Registered Capital CHN4 Reed Exhibitions Hengjin Co., Ltd (51%) Registered Capital CHN16 Reed Exhibitions (Shanghai) Co., Ltd Registered Capital CHN13 Reed Hongda Exhibitions (Henan) Co., Ltd (51%) Registered Capital CHN11 Reed Huabai Exhibitions (Beijing) Co., Ltd (51%) Registered Capital CHN4 Reed Huabo Exhibitions (Shenzhen) Co., Ltd (65%) Registered Capital CHN12 Company name Share class Reg office Reed Huaqun Exhibitions Co., Ltd (52%) Registered Capital CHN4 Reed Kuozhan Exhibitions (Shanghai) Co., Ltd (60%) Registered Capital CHN10 Reed Sinopharm Exhibitions Co., Ltd (50%) Registered Capital CHN4 RELX (China) Investment Co., Ltd Registered Capital CHN12 Shanghai Datong Medical Information Technology Co., Ltd Registered Capital CHN14 Shanghai SinoReal Exhibitions Co., Ltd (27.5%) Registered Capital CHN15 Colombia LexisNexis Risk Solutions S.A.S. Ordinary COL1 Denmark Elsevier A/S Ordinary DNK1 Dubai, UAE Reed Exhibitions Free Zone-LLC Ordinary UAE1 RELX Middle East FZ-LLC Ordinary UAE2 Egypt Elsevier Egypt LLC Ordinary EGY1 France Elsevier Holding France SAS Registered Capital FRA1 Elsevier Masson SAS Registered Capital FRA1 Evoluprint SAS Ordinary FRA2 Fircosoft SAS Ordinary FRA8 Gie Edi-Data (83%) Ordinary FRA3 Gie Juris-Data Ordinary FRA3 GIE PRK – Publicite Robert Krier Registered capital FRA4 LexisNexis Business Information Solutions S.A. Ordinary FRA3 LexisNexis Business Information Solutions Holding S.A. Ordinary FRA5 LexisNexis International Development Services S.A. Ordinary FRA3 LexisNexis SA Ordinary FRA3 Reed Exhibitions ISG SARL Registered capital FRA6 Reed Expositions France SAS Ordinary FRA4 Reed Midem SAS Registered capital FRA6 Reed Organisation SAS Ordinary FRA4 RELX France S.A. Registered capital FRA6 RELX France Services SAS Registered capital FRA8 SAFI SA (50%) Ordinary FRA7 Germany Aries GmbH & Co KG Registered Capital DEU2 Aries Medical Knowledge Verwaltungsgesellschaft GmbH Registered Capital DEU2 Elsevier GmbH Registered Capital DEU4 Elsevier Information Systems GmbH Registered Capital DEU3 LexisNexis GmbH Registered Capital DEU5 PatentSight GmbH Registered Capital DEU7 Reed Exhibitions (Germany) GmbH Registered Capital DEU5 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 RELX Deutschland GmbH Registered Capital DEU1 Tschach Solutions GmbH Ordinary DEU6 Greece Mack Brooks Hellas SA Ordinary GRE1 Hong Kong Ascend China Holding Ltd Ordinary HNK1 JC Exhibition and Promotion Ltd (65%) Ordinary HNK1 JYLN Sager Ltd Ordinary HNK3 MLex Asia Ltd (91%) Ordinary HNK5 Reed Business Information (China) Ltd Ordinary HNK2 Reed Exhibitions Ltd Ordinary HNK1 RELX (Greater China) Ltd Ordinary HNK4 India Chemprotech India Expo Pvt Ltd (25%) Ordinary IND7 Chemspec India Expo Pvt Ltd (50%) Ordinary IND7 FircoSoft India Private Ltd Ordinary IND2 Next Events Pvt Ltd Registered Capital IND4 Parity Computing India Pvt Ltd Ordinary IND5 Reed Elsevier Publishing (India) Pvt Ltd Ordinary IND3 29 Related undertakings (continued) Company name Share class Reg office Reed Manch Exhibitions Private Ltd (70%) Ordinary IND4 Reed Triune Exhibitions Private Ltd (72%) Ordinary IND6 RELX India Private Ltd Ordinary IND1 Indonesia PT Reed Exhibitions Indonesia (70%) Class A IDN2 Class B PT Reed Panorama Exhibitions (50%) Ireland Ordinary IDN1 Ireland Elsevier Services Ireland Ltd Ordinary IRL2 LexisNexis Risk Solutions (Europe) Ltd Ordinary IRL1 LexisNexis Risk Solutions (Ireland) Ltd Ordinary IRL1 3D4Medical Ltd Ordinary IRL3 3D4Medical Support Services Ltd Ordinary IRL3 Israel LexisNexis Israel Ltd Ordinary ISR1 Italy Elsevier SRL Registered Capital ITA1 ICIS Italia SRL Ordinary ITA2 Reed Exhibitions ISG Italy SRL Ordinary ITA1 Reed Exhibitions Italia SRL Ordinary ITA1 Japan Ascend Japan KK Ordinary JPN1 Elsevier Japan KK Ordinary JPN2 LexisNexis Japan KK Common Stock JPN3 PatentSight Japan Inc Common Shares JPN6 Reed Exhibitions Japan KK Ordinary JPN4 Reed ISG Japan KK Ordinary JPN5 ThreatMetrix GK Membership Interest JPN7 Korea (South) Elsevier Korea LLC Ordinary KOR1 LexisNexis Legal and Professional Service Korea Ltd Ordinary KOR2 Reed Exhibitions Korea Ltd Ordinary KOR3 Reed Exporum Ltd (60%) Ordinary KOR4 Reed K. Fairs Ltd (70%) Ordinary KOR3 Malaysia LexisNexis Malaysia Sdn Bhd Ordinary MYS1 Reed Exhibitions Sdn Bhd Ordinary MYS1 Mexico Masson-Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Ordinary MEX1 Morocco Reed Exhibitions Morocco SARL Ordinary MAR1 New Zealand LexisNexis NZ Ltd Ordinary NZL1 Philippines Reed Elsevier Shared Services (Philippines) Inc. Ordinary PHL1 Poland AI Digital Contracts Sp. z.o.o. (75%) Ordinary POL1 Elsevier sp. z.o.o. Ordinary POL2 Russia Ecwatech Company ZAO Ordinary RUS1 Elsevier OOO Participation Shares RUS1 LexisNexis OOO Registered Capital RUS1 Real Estate Events Direct OOO (80%) Registered Capital RUS2 RELX OOO Registered Capital RUS1 3D4Medical OOO Ordinary RUS3 Saudi Arabia Reed Sunaidi Exhibitions (50%) Ordinary SAU1 Singapore Elsevier (Singapore) Pte Ltd Ordinary SGP1 Lexis-Nexis Philippines Pte Ltd (75%) Ordinary B SGP2 Preference Mack Brooks Asia Pte Ltd Ordinary SGP5 Reed Business Information Pte Ltd Ordinary SGP3 RE (HAPL) Pte Ltd Ordinary SGP1 RELX (Singapore) Pte. Ltd Ordinary SGP2 Company name Share class Reg office ThreatMetrix PTE Ltd Ordinary SGP4 South Africa Fircosoft South Africa (Pty) Ltd Ordinary ZAF1 Globalrange SA (Pty) Ltd Ordinary ZAF2 Korbitec (Pty) Ltd (78%) Ordinary ZAF3 LegalPerfectTSoftware Solutions (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis Academic (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis Risk Management (Pty) Ltd (78%) Ordinary ZAF3 Property Payment Exchange (SA) (Pty) Ltd (78%) Ordinary ZAF3 RELX (Pty) Ltd Ordinary ZAF3 Reed Exhibitions (Pty) Ltd (90%) A-shares ZAF3 Reed Events Management (Pty) Ltd (90%) A-shares ZAF3 Reed Exhibitions Group(Pty) Ltd (90%) Ordinary ZAF3 Reed Venue Management (Pty) Ltd (90%) A-shares ZAF3 Winsearch Services (Pty) Ltd (78%) Ordinary ZAF3 Spain Elsevier Espana, S.L. Participations ESP1 Switzerland Elsevier Finance SA Ordinary CHE1 Fircosoft Schweiz GmbH Ordinary CHE2 RELX Risks SA Ordinary CHE1 RELX Swiss Holdings SA Ordinary CHE1 Taiwan Elsevier Taiwan LLC Registered Capital TWN1 Thailand MackBrooks Exhibitions Asia Ltd (49%) Ordinary THA3 Reed Tradex Company Ltd (49%) Ordinary THA1 Reed Holding (Thailand) Co., Ltd Ordinary THA2 Reed Tradex Company Ltd (49%) Preference shares THA4 The Netherlands AGRM Solutions C.V. Partnership Interest NLD1 Elsevier B.V. Ordinary NLD1 Elsevier Employment Services B.V. Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LexisNexis Univentio B.V. Ordinary NLD2 Misset Uitgeverij B.V.(49%) Ordinary NLD4 One Business B.V. (33%) Registered Capital NLD5 Reed Business B.V. Ordinary NLD1 RELX Finance B.V. Ordinary NLD1 RELX Holdings B.V. Ordinary NLD1 RELX Nederland B.V. Ordinary NLD1 RELX Overseas B.V. RE Shares NLD1 ThreatMetrix BV Ordinary NLD3 Turkey Elsevier STM Bilgi Hizmetleri Limited Şirketi Ordinary TUR1 Mack Brooks Fuarcilik A.S Registered Capital TUR 3 Reed Tüyap Fuarcilik A.Ş.(50%) A Ordinary TUR2 B Ordinary United Kingdom Adaptris Group Ltd Ordinary GBR2 Bradfield Brett Holdings Ltd 7 1/2% Preferred GBR1 Income, Ordinary Butterworths Ltd Ordinary GBR5 Cordery Compliance Ltd (71%) Ordinary GBR5 Cordery Ltd (71%) Ordinary GBR5 Crediva Ltd Ordinary GBR6 Dew Events Ltd Ordinary GBR3 Digital Foundry Network (50%) Ordinary GBR3 Drayton Legal Recoveries Ltd Ordinary GBR7 E & P Events LLP (50%) No Shares GBR3 Elsevier Ltd Ordinary GBR8 Elsevier Life Sciences IP Ltd Ordinary GBR8 Fastener Fairs Ltd Ordinary, GBR4 Ordinary-A, Ordinary-B Formpart (EPS) Ltd Ordinary GBR1 Formpart (HPL) Ltd Ordinary GBR1 Notes to the consolidated financial statements for the year ended 31 December 2019 29 Related undertakings (continued) Company name Share class Reg office Gamer Edition Ltd Ordinary GBR3 Gamer Events Ltd Ordinary GBR3 Gamer Network Ltd Ordinary GBR3 Imbibe Media Ltd Ordinary GBR3 Information Handling Ltd (85%) Ordinary GBR1 Insurance Initiatives Ltd Ordinary GBR10 Knowable Holdings Ltd (75%) Ordinary GBR1 Knowable Ltd (75%) Ordinary GBR1 Legend Exhibitions Ltd Ordinary GBR13 LexisNexis Risk Solutions UK Ltd Ordinary GBR9 Mack Brooks Events Ltd Ordinary GBR3 Mack-Brooks Exhibitions Ltd Ordinary, A Ordinary GBR3 Mack-Brooks (France) Ltd Ordinary GBR3 Mack-Brooks Publishing Ltd Ordinary, A Ordinary GBR3 Mack Brook Speciality Publishing Ltd Ordinary GBR3 MCM Central Ltd Ordinary GBR2 MCM Expo Ltd Ordinary GBR2 Mendeley Ltd Ordinary GBR7 MLex Ltd Ordinary GBR4 Newsflo Ltd Ordinary GBR1 NLife Ltd (23.5%) Ordinary GBR12 Offshore Europe (Management) Ltd Ordinary GBR3 Offshore Europe Partnership (50%) Partnership Interest GBR3 Out There Gaming Ltd (70%) Ordinary GBR3 Oxford Spires Management Co; Ltd (55%) Ordinary GBR10 Prean Holdings Ltd Deferred, Ordinary GBR1 RE Directors (No.1) Limited Ordinary GBR1 RE Directors (No.2) Limited Ordinary GBR1 RE (RCB) LTD Ordinary GBR1 RE Secretaries Ltd Ordinary GBR1 RE (SOE) Ltd Ordinary GBR3 Reed Business Information (Holdings) Ltd Ordinary GBR2 Reed Business Information Ltd Ordinary GBR2 Reed Elsevier (UIG) Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR3 Reed Exhibitions Ltd Deferred, Ordinary GBR3 Reed Nominees Ltd Ordinary GBR1 Reed Publishing Corporation Ltd Ordinary GBR1 RELX (Holdings) Ltd Ordinary GBR1 RELX (Investments) plc Ordinary GBR1 RELX (UK) Ltd Ordinary GBR1 RELX Finance Ltd Ordinary GBR1 RELX Group plc Ordinary GBR1 ‘R’ Ordinary RELX Overseas Holdings Ltd Ordinary, GBR1 REV Venture Partners Ltd Ordinary GBR1 Symbiotic Technologies Operations Ltd Ordinary GBR9 Tracesmart Ltd Ordinary GBR5 Whitehall Debenture Company Limited A Ordinary GBR1 B Ordinary Wunelli Ltd Ordinary GBR11 United States Accuity Inc. Common Stock USA1 Accuity Asset Verification Services Inc Common Stock USA1 American Textile Machinery Exhibitions International Inc. (40%) Common Stock USA3 Aries Systems Corporation Common USA3 Derman, Inc Common Stock USA4 Dunlap-Hanna Publishers (50%) Partnership Interest USA7 Elsevier Inc Common Stock USA3 Elsevier Holdings Inc Common Stock USA3 Elsevier Medical Information LLC Membership Interest USA3 Elsevier STM Inc Common Stock USA3 Enclarity, Inc Common Stock USA2 ExitCare LLC Membership Interest USA3 Gamer Network Inc. Common Stock USA3 Company name Share class Reg office Gaming Business Asia LLC (50%) Membership Interest USA3 Health Market Science, Inc Common Stock USA2 IDG-RBI China Publishers LLC (50%) Membership Interest USA3 Intelligize, Inc Common Stock USA3 Knovel Corporation Common Stock USA3 Knowable Inc (75%) Common Stock USA8 LexisNexis Claims Solutions Inc Common Stock USA2 LexisNexis Coplogic Solutions Inc Common Stock USA2 LexisNexis of Puerto Rico Inc Common Stock USA9 LexisNexis Risk Assets Inc Common Stock USA2 LexisNexis Risk Data Management Inc Common Stock USA2 LexisNexis Risk Holdings Inc Common Stock USA2 LexisNexis Risk Solutions Inc Common Stock USA2 LexisNexis Risk Solutions FL Inc. Common Stock USA2 LexisNexis Special Services Inc Common Stock USA6 LexisNexis VitalChek Network Inc Common Stock USA2 Mack Brooks Exhibitions Inc. Common Stock USA3 Matthew Bender & Company, Inc. Common Stock USA3 MLex US, Inc (91%) Common Stock USA3 Parity Computing, Inc. Common Stock USA3 PCLaw Time Matters LLC (51%) No Stock USA2 PoliceReports.US, LLC Membership Interest USA2 Portfolio Media, Inc Common Stock USA3 Reed Business Information Inc Common Stock USA5 Reed Technology and Information Services Inc. Common Stock USA3 RELX Capital Inc Common Stock USA4 RELX Inc Common Stock USA3 RELX Risks Inc. Common Stock USA2 RELX US Holdings Inc Common Stock USA3 Reman, Inc Common Stock USA3 REV IV Partnership LP No shares USA4 SAFI Americas LLC (50%) Membership Interest USA3 The Reed Elsevier Ventures 2005 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2006 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2009 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2010 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2011 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2012 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2013 Partnership LP Partnership Interest USA4 The Remick Publishers (50%) Partnership Interest USA7 ThreatMetrix, Inc. Common USA2 World Compliance, Inc Common Stock USA4 3D4Medical.com, LLC Membership Interest USA10 3D4Medical Inc. Common Stock USA10 Vietnam Reed Tradex Vietnam LLC (49%) Ordinary VIE1 29 Related undertakings (continued) Registered offices Australia AUS1: Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills NSW 2153,Australia AUS2: 383 Kent Street, Sydney NSW 2000, Australia AUS3: ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 AUS4: Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 AUS5: 1303, 799 Pacific Highway, Chatswood, NSW 2067 Austria AUT1: Messeplatz 1, 1020, Wien, Austria AUT2: Marxergasse 25, 1030, Wien, Austria AUT3: Am Messezentrum 6, 5020, Salzburg, Austria Belgium BEL1: Oudenaardseheerweg 129, 9810 Nazareth, Belgium BEL2: Guldensporenpark 36D, 9820 Merelbeke, Belgium Brazil BRA1: Rua Sete de Setembro, n0 111, salas 601,1501/1502, 1601/1602, 1701/1702 e 802 – 80 Andar, Centro, cidade do Rio de Janeiro, estado do Rio de Janeiro, CEP 20.050-006 BRA2: Rua Bela Cintra 2305, São Paulo, 01415-009,Brazil BRA3: Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil BRA4: Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 BRA5: Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200 BRA6: Rua Bela Cintra no. 1200, 5th floor, Sâo Paulo, 01415-002, Brazil Canada CAN1: 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada CAN2: 177 King Street West, Suite 400, Toronto-Dominion Centre Toronto, Ontario, M5K 0A1, Canada CAN3: 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 CAN4: 26E-1501 av. McGill College, Montreal, Quebec, H3A 3N9, Canada China CHN1: Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044, China CHN2: West Building of Administration Building, Xueyuan Road No. 38 Peking University Health Science Center, Haidan District, Beijing, 100191, China CHN3: Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China CHN4: Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China CHN5: Unit 2480, Building 2, No. 7, Chuangxin Road, Science Park of Changping District, Beijing, China CHN6: Unit B1303-1 & 1305, 13F Center Plaza, 161 Linhe Road West, Tianhe District Guangzhou, China CHN7: 404 F4, No.9 Shangdi 9th Street, Haidian District, Beijing, 100085, China CHN8: Room 5106, Raffle City, 268 Middle Xizang Road, Huangpu District, Shanghai, 200001, China CHN9: Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road, Chaoyang District, Beijing CHN10: Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China CHN11: Shenzhen International Chamber of Commerce Tower, Room 1801-1802, 1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048, China CHN12: Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China CHN13: Room 304, Sanlian Building, No.8, Huajing Road, Pudong District, Shanghai, 200070, China CHN14: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality CHN15: FL2, No.979, Yunhan Road, Nicheng Town, Pudong New Area CHN16: Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New Area, Shanghai CHN17: 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China CHN18: Room Jia301-22, No15, Lane152, Yanchang Road, Shanghai, China Colombia COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá, d.c., 76600, Colombia Denmark DNK1: Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark Dubai, UAE UAE1: Office G-49, Building No 9, Dubai Media City, Post Box 502425, Dubai, United Arab Emirates UAE2: Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates Egypt EGY1: Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt Registered offices France FRA1: 65, rue Camille Desmoulins, 92130, Issy les Moulineaux, France FRA2: Parc Euronord – 10, rue du Parc – 31150 Bruguieres FRA3: 141 rue de Javel, 75015 Paris FRA4: 52 Quai de Dion Bouton 92800 Puteaux FRA5: Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) FRA6: 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France FRA7: 6-8 Rue Chaptal, 75009 Paris FRA8: 151-155 Rue de Bercy, 75012 Paris, France Germany DEU1: Völklinger Strasse 4, 40219, Düsseldorf, Germany DEU2: Leichlinger Street 14,40764,Langenfeld,Germany DEU3: Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany DEU4: Hackerbrücke 6, 80335, Munich, Germany DEU5: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU6: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany DEU7: Joseph-Schumpeter-Allee 33, 53227, Bonn Greece GRE1 188A, Filolaou Str.,Athens, 11632, Greece Hong Kong HNK1: 20/F Alexandra House, 18 Chater Road, Central, Hong Kong HNK2: Level 54 Hopewell Center, 183 Queens Road East (Tricor Office), Hong Kong HNK3: Flat 1506, 15/F, Lucky Center, No. 165-171 Wan Chai Road, Wan Chai, Hong Kong HNK4: 11/F Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong HNK5: 3901, 39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong India IND1: 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India IND2: S21 Vatika Centre, No 471 Anna Salai, Taynampet, Chennai, 600035, India IND3: 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India IND4: Unit no 03,04,05 first floor, Southern Park D2 Saket, New Delhi, South Delhi ,110017, India IND5: 99/100, Prestige Towers Unit No. 505, Fifth Floor, Residency Road, Bangalore, IND6: #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India IND7: B-602, Godrej coliseum, K. J. Hospital Road, Sion (E), Mumbai, 400 022, India Indonesia IDN1: Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia IDN2: Menara Citicon Level 8. Unit 8011 & 8012 Jl. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia Ireland IRL1: 80 Harcourt Street, Dublin 2, Ireland IRL2: Suite 4320, Atlantic Avenue, Westpark Business Campus, Shannon, Clare, Ireland IRL3: 1st Floor The Grange Stillorgan Road, Blackrock, Co Dublin, Ireland Israel ISR1: Meitar, attorneys at Law, 16 Abba Hillel Road, Ramat Gan, 5250608, Israel Italy ITA1: Via Marostica 1, 20146, Milan, Italy ITA2: Studio Colombo e Associati, Via Cino del Duca 5, 20122, Milano, Italy Japan JPN1: Kyodo Tsushin Kaikam 2F, 2-2-5 Toronomon, Minato-ku, Tokyo, 105-0001 JPN2: Ark Mori Building, 1-12-32 Akasaka, Minato-ku, Tokyo, 107-6029, Japan JPN3: 1-9-15, Higashi Azabu, Minato-ku Tokyo Japan JPN4: Shinjuku-Nomura Bldg., 1-26-2 Nishi-shinjuku, Shinjuku-ku, Tokyo, Japan JPN5: 13-12 Rokubancho, Chiyoda-ku, Tokyo, Japan JPN6: 7F Cross Office Uchisaiwaicho, 1-18-6 Nishi-Shinbashi, Minato-ku, Tokyo JPN7: 2-6, Kasumigaseki 3-chome, Chiyoda-ku, Tokyo Korea (South) KOR1: Chunwoo Building, 4th floor, 534 Itaewon-dong, Yongsan-gu, Seoel, 140-861, Korea, Republic of Notes to the consolidated financial statements for the year ended 31 December 2019 29 Related undertakings (continued) Registered offices KOR2: 206 Noksapyeong-daero, Yongsan-gu, Seoel, Korea, Republic of KOR3: Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea KOR4: 1324 Block A Tera Tower II, 201, Songpa-daero, Songpa-gu, Seoul, 05854 Malaysia MYS1: 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia Mexico MEX1: Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México Morocco MAR1: Forum Bab Abdelaziz au 62, Angle Blvd. d’Anfa, 6ème étage, Apt 61, Casablanca, Morocco New Zealand NZL1: Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand Philippines PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines Poland POL1 św. Antoniego 2/4 50-073, Wrocław,Poland POL2: Natpoll Building, ul. Migdalowa 4/59, 02-796, Warsaw, Poland Russia RUS1: 2nd Syromyatnicheskiy pereulok, house 1, space I, room 13, 105120, Moscow, Russian Federation RUS2: Petrozavodskaya street 28/4, Building VI, room 2, 125475, Moscow, Russian Federation RUS3: Krasnykh Partizan st. 152, Office 505, 350049, Krasnodar, Russian Federation Saudi Arabia SAU1: Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia Singapore SGP1: 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore SGP2: 80 Robinson Road, #02-00, Singapore, 068898, Singapore SGP3: 1 Changi Business Park Crescent, #06-01 Plaza 8 & CBP, Singapore, 48602551, Singapore SGP4: 8 Robinson Road #03-00 ASO Building Singapore 048544 SGP5: 120 Lower Delta Road #12-02, Cendex Centre, Singapore, 169208 South Africa ZAF1: Regus Brooklyn Bridge, 3rd Floor Steven House, Brooklyn Bridge Office Park, Fehrsen Street, Brooklyn, Pretoria ZAF2: Fourways Gold Park, 1st Floor – Wentworth Building, 32 Roos Street, Fourways, 2191, South Africa ZAF3: 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa Spain ESP1: C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona, Spain Switzerland CHE1: Espace de L’Europe 3, 2002 Neuchatel, Switzerland CHE2: Regus Brooklyn Bridge, 3rd Floor Steven House Brooklyn, 570 Fehrsen Street, 0181, Brooklyn, Pretoria, Switzerland Taiwan TWN1: Rm N818, 8F, Chia Hsin Building II, No.9 , Lane 3, Minsheng West Road, Taipei 10449, Taiwan Thailand THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom, Bangrak, Bangkok, 10500, Thailand THA2: 14th Floor, CTI Tower, 191/70-73 Ratchadapisek Road, Khwaeng Klongtoey, Khet, Klongtoey, Bangkok, Thailand THA3: 140/36, New ITF Tower, 17th Floor, Silom Road, Bangrak 10500, Bangkok, Thailand THA4: 2 Ploenchit Centre, Room 7, Floor G., Sukhumvit Road, Klongtoey, Bangkok, 10110, Thailand Registered offices The Netherlands NLD1: Radarweg 29, 1043 NX Amsterdam, Netherlands NLD2: Galileiweg 8, 2333 BD Leiden, Netherlands NLD3: Evert van de Beekstraat 1 The Base 3 / F, 1118CL Schiphol NLD4: Prins Hendrikstraat 17, 7001GK Doetinchem NLD5: Spaklerweg 53, 1114 AE Amsterdam-Duivendrecht Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 ẞiẟli-Maslak, Istanbul, Turkey TUR2: E - 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece ,Istanbul, 34500, Turkey TUR3: Fulya Mah. Hakkı Yeten Cad. No:10/C, Selenium Plaza Kat:5,6 Fulya, Besiktas İstanbul, Turkey United Kingdom GBR1: 1-3 Strand, London, WC2N 5JR, United Kingdom GBR2: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom GBR3: Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom GBR4: Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom GBR5: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom GBR6: The Eye, 1 Procter Street, London, WC1V 6EU, United Kingdom GBR7: The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom GBR8: 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU GBR9: 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW GBR10: 40 Kimbolton Road, Bedford, England, MK40 2NR GBR11: 1000 Lakeside, Western Road, Portsmouth, PO6 3EN, United Kingdom GBR12: 5 Oakwood Drive, Loughborough, England, LE11 3QF GBR13: 28 The Quadrant, Richmond, Surrey, England, TW9 1DN United States USA1: 1007 Church Street, Evanston IL 60201 USA2: 1000 Alderman Dr., Alpharetta, GA 30005 USA3: 230 Park Ave, New York, NY 10169 USA4: 1105 North Market St, Wilmington, DE 19801 USA5: 3355 West Alabama Street, Houston, TX 77098 USA6: Puerta Del Condado #1095, Wilson Ave, Local #3, San Juan, PR 00907 USA7: 313 Washington Street, Suite 400, Newton, MA 02458 USA8: 1209 Orange Street, Wilmington, DE 19801 USA9: 9443 Springboro Pike, Miamisburg, OH 45342 USA10: 15633 Rising River PL N, San Diego, CA 92127-5100 Vietnam VIE1: 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City, Vietnam |
Revenue and Segment Analysis -
Revenue and Segment Analysis - Additional Information (Detail) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019GBP (£)Segment | Dec. 31, 2018GBP (£) | Dec. 31, 2017GBP (£) | |
Disclosure of operating segments [line items] | |||
Number of segments | Segment | 4 | ||
Revenue | £ 7,874 | £ 7,492 | £ 7,341 |
Aggregate amount of transaction price allocated | £ 162 | 210 | |
Revenue recognition period | 9 years | ||
Non-current assets | £ 11,002 | 11,149 | 9,883 |
Share of results of joint ventures | 41 | 32 | |
Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 123 | 101 | |
Share of results of joint ventures | 41 | 32 | 37 |
Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Amortisation of acquired intangible assets | 1 | 1 | 1 |
Exhibitions [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Share of results of joint ventures | 36 | 31 | 32 |
Legal [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Share of results of joint ventures | 3 | 0 | 5 |
Risk & business analytics [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Share of results of joint ventures | 2 | 1 | 0 |
United Kingdom [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,320 | 1,144 | 1,085 |
Non-current assets | 1,248 | 988 | 1,026 |
United Kingdom [member] | Geographical origin [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | £ 529 | £ 527 | £ 521 |
Revenue and Segment Analysis _2
Revenue and Segment Analysis - Summary of Analysis by Business Segment (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||
Revenue | £ 7,874 | £ 7,492 | £ 7,341 |
Adjusted operating profit | 2,491 | 2,346 | 2,284 |
Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,874 | 7,492 | 7,341 |
Adjusted operating profit | 2,496 | 2,351 | 2,289 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,637 | 2,538 | 2,473 |
Adjusted operating profit | 982 | 942 | 914 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,316 | 2,117 | 2,073 |
Adjusted operating profit | 853 | 776 | 760 |
Operating segments [member] | Legal [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,652 | 1,618 | 1,686 |
Adjusted operating profit | 330 | 320 | 328 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,269 | 1,219 | 1,109 |
Adjusted operating profit | 331 | 313 | 287 |
Unallocated amounts [member] | |||
Disclosure of operating segments [line items] | |||
Adjusted operating profit | £ (5) | £ (5) | £ (5) |
Revenue and Segment Analysis _3
Revenue and Segment Analysis - Summary of Classification of Revenue (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | £ 7,874 | £ 7,492 | £ 7,341 |
Operating segments [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 7,874 | 7,492 | 7,341 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,637 | 2,538 | 2,473 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,316 | 2,117 | 2,073 |
Operating segments [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,652 | 1,618 | 1,686 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,269 | 1,219 | 1,109 |
Operating segments [member] | Electronic [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 5,929 | 5,513 | 5,388 |
Operating segments [member] | Electronic [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,214 | 2,094 | 1,995 |
Operating segments [member] | Electronic [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,264 | 2,030 | 1,967 |
Operating segments [member] | Electronic [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,400 | 1,338 | 1,384 |
Operating segments [member] | Electronic [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 51 | 51 | 42 |
Operating segments [member] | Face to face [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,260 | 1,221 | 1,122 |
Operating segments [member] | Face to face [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 8 | 7 | 10 |
Operating segments [member] | Face to face [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 25 | 36 | 38 |
Operating segments [member] | Face to face [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 9 | 10 | 7 |
Operating segments [member] | Face to face [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,218 | 1,168 | 1,067 |
Operating segments [member] | Print [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 685 | 758 | 831 |
Operating segments [member] | Print [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 415 | 437 | 468 |
Operating segments [member] | Print [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 27 | 51 | 68 |
Operating segments [member] | Print [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 243 | 270 | 295 |
Operating segments [member] | Subscriptions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 4,129 | 3,889 | 3,800 |
Operating segments [member] | Subscriptions [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,970 | 1,877 | 1,776 |
Operating segments [member] | Subscriptions [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 872 | 765 | 732 |
Operating segments [member] | Subscriptions [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,287 | 1,247 | 1,291 |
Operating segments [member] | Subscriptions [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1 | ||
Operating segments [member] | Transactional [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 3,678 | 3,521 | 3,444 |
Operating segments [member] | Transactional [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 622 | 615 | 646 |
Operating segments [member] | Transactional [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,428 | 1,322 | 1,301 |
Operating segments [member] | Transactional [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 359 | 365 | 389 |
Operating segments [member] | Transactional [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,269 | 1,219 | 1,108 |
Operating segments [member] | Advertising [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 67 | 82 | 97 |
Operating segments [member] | Advertising [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 45 | 46 | 51 |
Operating segments [member] | Advertising [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 16 | 30 | 40 |
Operating segments [member] | Advertising [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 6 | 6 | 6 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 4,308 | 4,013 | 3,998 |
North America [member] | Operating segments [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 4,391 | 4,091 | 4,078 |
North America [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,182 | 1,118 | 1,045 |
North America [member] | Operating segments [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,843 | 1,669 | 1,658 |
North America [member] | Operating segments [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,118 | 1,083 | 1,145 |
North America [member] | Operating segments [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 248 | 221 | 230 |
Europe [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,832 | 2,790 | 2,644 |
Europe [member] | Operating segments [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,800 | 1,808 | 1,694 |
Europe [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 635 | 611 | 617 |
Europe [member] | Operating segments [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 317 | 322 | 308 |
Europe [member] | Operating segments [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 340 | 340 | 340 |
Europe [member] | Operating segments [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 508 | 535 | 429 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 734 | 689 | 699 |
Rest of world [member] | Operating segments [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,683 | 1,593 | 1,569 |
Rest of world [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 820 | 809 | 811 |
Rest of world [member] | Operating segments [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 156 | 126 | 107 |
Rest of world [member] | Operating segments [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 194 | 195 | 201 |
Rest of world [member] | Operating segments [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | £ 513 | £ 463 | £ 450 |
Revenue and Segment Analysis _4
Revenue and Segment Analysis - Summary of Analysis of Revenue by Geographical Origin (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | £ 7,874 | £ 7,492 | £ 7,341 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 4,308 | 4,013 | 3,998 |
Europe [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 2,832 | 2,790 | 2,644 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | £ 734 | £ 689 | £ 699 |
Revenue and Segment Analysis _5
Revenue and Segment Analysis - Summary of Analysis by Business Segment Expenditure (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | £ 502 | £ 1,049 | £ 133 |
Capital expenditure additions | 381 | 365 | 355 |
Amortisation of acquired intangible assets | 295 | 288 | 314 |
Depreciation and other amortisation | 389 | 364 | 343 |
Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 65 | 106 | 94 |
Capital expenditure additions | 104 | 100 | 95 |
Amortisation of acquired intangible assets | 62 | 58 | 77 |
Depreciation and other amortisation | 109 | 109 | 100 |
Risk & business analytics [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 47 | 852 | |
Capital expenditure additions | 96 | 92 | 83 |
Amortisation of acquired intangible assets | 170 | 161 | 141 |
Depreciation and other amortisation | 89 | 73 | 64 |
Legal [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 139 | 30 | 6 |
Capital expenditure additions | 155 | 145 | 153 |
Amortisation of acquired intangible assets | 24 | 33 | 52 |
Depreciation and other amortisation | 150 | 147 | 142 |
Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 251 | 61 | 33 |
Capital expenditure additions | 26 | 28 | 24 |
Amortisation of acquired intangible assets | 39 | 36 | 44 |
Depreciation and other amortisation | £ 41 | £ 35 | £ 37 |
Revenue and Segment Analysis _6
Revenue and Segment Analysis - Summary of Analysis of Non-current Assets by Geographical Location (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | £ 11,002 | £ 11,149 | £ 9,883 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 8,365 | 8,692 | 7,408 |
Europe [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 2,156 | 1,996 | 2,016 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | £ 481 | £ 461 | £ 459 |
Revenue and Segment Analysis _7
Revenue and Segment Analysis - Summary of Reconciliation of Operating Profit to Adjusted Operating Profit (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Operating Segments [Abstract] | |||
Operating profit | £ 2,101 | £ 1,964 | £ 1,905 |
Adjustments: | |||
Amortisation of acquired intangible assets | 295 | 288 | 314 |
Acquisition-related costs | 84 | 84 | 56 |
Reclassification of tax in joint ventures | 12 | 11 | 10 |
Reclassification of finance income in joint ventures | (1) | (1) | (1) |
Adjusted operating profit | £ 2,491 | £ 2,346 | £ 2,284 |
Operating Profit - Disclosure o
Operating Profit - Disclosure of Detailed Information About Operating Profit (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Staff costs | |||
Wages and salaries | £ 2,116 | £ 1,959 | £ 1,926 |
Social security costs | 230 | 215 | 213 |
Pensions | 120 | 135 | 95 |
Share based remuneration | 32 | 41 | 39 |
Total staff costs | 2,498 | 2,350 | 2,273 |
Depreciation and amortisation | |||
Amortisation of acquired intangible assets | 294 | 287 | 313 |
Share of joint ventures' amortisation of acquired intangible assets | 1 | 1 | 1 |
Amortisation of internally developed intangible assets | 249 | 225 | 203 |
Depreciation of property, plant and equipment | 58 | 62 | 65 |
Depreciation of right-of-use assets | 82 | 77 | 75 |
Total depreciation and amortisation | 684 | 652 | 657 |
Other expenses and income | |||
Cost of sales including pre-publication costs and inventory expenses | 2,755 | 2,638 | 2,628 |
Operating lease rentals expense | 20 | 18 | 28 |
Operating lease rentals income | £ (1) | £ (3) | £ (3) |
Auditor's Remuneration - Disclo
Auditor's Remuneration - Disclosure of Detailed Information About Auditor's Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Auditor’s remuneration | |||
Payable to the auditors | £ 8.9 | £ 11 | £ 7.9 |
Audit services | 8.2 | 7.4 | 6.8 |
Total audit and audit-related assurance services | 8.8 | 8.3 | 7.6 |
Total non-audit related services | 0.1 | 2.7 | 0.3 |
RELX PLC [member] | |||
Auditor’s remuneration | |||
Payable to the auditors | 0.8 | 0.9 | 0.9 |
Audit services | 0.1 | 0.1 | |
Payable to the auditors of the Group's subsidiaries [member] | |||
Auditor’s remuneration | |||
Payable to the auditors | 7.4 | 6.5 | 5.9 |
Audit-related assurance services [member] | |||
Auditor’s remuneration | |||
Audit services | 0.6 | 0.9 | 0.8 |
Due diligence and other transaction-related services [member] | |||
Auditor’s remuneration | |||
Other services | £ 0.1 | £ 2.7 | £ 0.3 |
Auditor's Remuneration - Additi
Auditor's Remuneration - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of auditors remuneration [line items] | |||
Audit related assurance services fee | £ 8.2 | £ 7.4 | £ 6.8 |
RELX PLC and RELX NV [member] | |||
Disclosure Of auditors remuneration [line items] | |||
Audit related assurance services fee | £ 0.1 | £ 0.1 |
Personnel - Disclosure of Detai
Personnel - Disclosure of Detailed Information About Number of People Employed (Detail) - Employee | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of number and average number of employees [line items] | |||
Number of employees | 33,200 | 32,100 | 31,000 |
Average number of employees | 32,800 | 31,800 | 31,200 |
North America [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 14,100 | 13,800 | 13,500 |
Average number of employees | 14,000 | 13,700 | 13,600 |
Europe [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,500 | 9,200 | 9,100 |
Average number of employees | 9,400 | 9,200 | 9,200 |
Rest of world [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,600 | 9,100 | 8,400 |
Average number of employees | 9,400 | 8,900 | 8,400 |
Operating segments [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 32,400 | 31,300 | 30,200 |
Average number of employees | 31,900 | 31,000 | 30,400 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 8,100 | 7,900 | 7,500 |
Average number of employees | 8,000 | 7,700 | 7,500 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,100 | 8,700 | 8,100 |
Average number of employees | 9,000 | 8,600 | 8,200 |
Operating segments [member] | Legal [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 10,600 | 10,500 | 10,600 |
Average number of employees | 10,600 | 10,600 | 10,700 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 4,600 | 4,200 | 4,000 |
Average number of employees | 4,400 | 4,100 | 4,000 |
Corporate/shared functions [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 800 | 800 | 800 |
Average number of employees | 800 | 800 | 800 |
Personnel - Additional Informat
Personnel - Additional Information (Detail) - Employee | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of number and average number of employees [line items] | |||
Number of employees | 33,200 | 32,100 | 31,000 |
Average number of employees | 32,800 | 31,800 | 31,200 |
United Kingdom [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 5,400 | 5,200 | 5,000 |
Average number of employees | 5,300 | 5,100 | 5,000 |
Pension Schemes - Additional In
Pension Schemes - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of defined benefit plans [line items] | |||
Expected employer contributions to defined benefit pension plan | £ 58 | ||
Pension deficit funding contribution to defined benefit pension | 44 | ||
Pension cost recognised within operating profit | 120 | £ 135 | £ 95 |
Deferred tax assets | 239 | 455 | |
Recognised loss in statement of comprehensive income in relation to asset ceiling | 13 | 0 | |
Government bonds | £ 1,486 | £ 1,448 | |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Percentage of actuarial valuations of pension | 100.00% | ||
UK schemes [member] | United Kingdom [member] | |||
Disclosure of defined benefit plans [line items] | |||
Weighted average duration of defined benefit scheme liabilities | 19 years | 19 years | |
Defined benefit pension plans [member] | |||
Disclosure of defined benefit plans [line items] | |||
Deferred tax assets | £ 96 | £ 86 | |
Defined benefit pension plans [member] | 2020-2022 [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected pension remaining deficit funding contribution | £ 132 | ||
Foreign schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Percentage of actuarial valuations of pension | 100.00% | ||
Additional contributions over a period | 7 years | ||
Foreign schemes [member] | US [member] | |||
Disclosure of defined benefit plans [line items] | |||
Actuarial assumption of expected rates of pension excess | 100.00% | ||
Weighted average duration of defined benefit scheme liabilities | 13 years | 12 years | |
Recognised loss in statement of comprehensive income in relation to asset ceiling | £ 13 | ||
Funded scheme [member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | 5,016 | £ 4,582 | |
Unfunded scheme [member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | £ 253 | £ 230 |
Pension Schemes - Schedule of P
Pension Schemes - Schedule of Pension Expense Excluding Interest Amounts (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Defined Benefit Plans [Abstract] | |||
Defined benefit pension expense | £ 11 | £ 47 | £ 4 |
Defined contribution pension expense | 109 | 95 | 91 |
Total | £ 120 | £ 142 | £ 95 |
Pension Schemes - Schedule of D
Pension Schemes - Schedule of Defined Benefit Pension Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of defined benefit plans [line items] | |||
Service cost | £ 24 | £ 36 | £ 47 |
Settlement and past service (credits)/cost | (13) | 11 | (43) |
Defined benefit pension expense | 11 | 47 | 4 |
Net interest on net defined benefit obligation | 12 | 9 | 15 |
Net defined benefit pension expense | 23 | 56 | 19 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 21 | 27 | 33 |
Settlement and past service (credits)/cost | (8) | 11 | (42) |
Defined benefit pension expense | 13 | 38 | (9) |
Net interest on net defined benefit obligation | 9 | 6 | 10 |
Net defined benefit pension expense | 22 | 44 | 1 |
Foreign schemes [member] | US [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 3 | 9 | 14 |
Settlement and past service (credits)/cost | (5) | (1) | |
Defined benefit pension expense | (2) | 9 | 13 |
Net interest on net defined benefit obligation | 3 | 3 | 5 |
Net defined benefit pension expense | £ 1 | £ 12 | £ 18 |
Pension Schemes - Summary of De
Pension Schemes - Summary of Defined Benefit Pension Expense (Detail) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 2.05% | 2.85% | 2.60% |
Inflation | 2.95% | 3.15% | 3.15% |
US [member] | Foreign schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 3.25% | 4.20% | 3.55% |
Inflation | 2.50% | 2.50% | 2.50% |
Pension Schemes - Summary of Av
Pension Schemes - Summary of Average Life Expectancy Assumptions (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
UK schemes [member] | Member currently aged sixty years [member] | United Kingdom [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 85 years |
Female average life expectancy | 88 years |
UK schemes [member] | Member currently aged forty five years [member] | United Kingdom [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 86 years |
Female average life expectancy | 89 years |
Foreign schemes [member] | Member currently aged sixty years [member] | US [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 86 years |
Female average life expectancy | 88 years |
Foreign schemes [member] | Member currently aged forty five years [member] | US [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 87 years |
Female average life expectancy | 89 years |
Pension Schemes - Amounts Recog
Pension Schemes - Amounts Recognised in the Statement of Financial Position in Respect of Defined Benefit Pension Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | £ (433) | ||
Service cost | (24) | £ (36) | £ (47) |
Settlement and past service (cost)/credits | 13 | (11) | 43 |
Net interest on net defined benefit obligation | (12) | (9) | (15) |
Contributions by employer | 72 | 46 | |
Actuarial (losses)/gains | (124) | (91) | 233 |
Exchange translation differences | 1 | (4) | |
At end of year | (520) | (433) | |
Net defined benefit obligation, at the start of the year | (433) | (328) | |
Net pension obligation | (507) | (433) | |
Impact of asset ceiling | (13) | 0 | |
Overall net pension obligation | (520) | (433) | (328) |
UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Service cost | (21) | (27) | (33) |
Settlement and past service (cost)/credits | 8 | (11) | 42 |
Net interest on net defined benefit obligation | (9) | (6) | (10) |
Contributions by employer | 66 | 39 | |
Actuarial (losses)/gains | (169) | (89) | |
Net defined benefit obligation, at the start of the year | (359) | (265) | |
Net pension obligation | (484) | (359) | |
Overall net pension obligation | (484) | (359) | (265) |
US [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Service cost | (3) | (9) | (14) |
Settlement and past service (cost)/credits | 5 | 1 | |
Net interest on net defined benefit obligation | (3) | (3) | (5) |
Contributions by employer | 6 | 7 | |
Actuarial (losses)/gains | 45 | (2) | |
Exchange translation differences | 1 | (4) | |
Net defined benefit obligation, at the start of the year | (74) | (63) | |
Net pension obligation | (23) | (74) | |
Impact of asset ceiling | (13) | ||
Overall net pension obligation | (36) | (74) | (63) |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (4,812) | (4,929) | |
Service cost | (24) | (36) | |
Past service credits/(cost) | 13 | (11) | |
Actuarial gain/(loss) on financial assumptions | (611) | 176 | |
Actuarial (loss)/gain arising from experience assumptions | 17 | 6 | |
Net interest on net defined benefit obligation | (146) | (136) | |
Contributions by employees | (9) | (8) | |
Liabilities (Assets) transferred on settlement | 65 | ||
Benefits paid | 197 | 187 | |
Exchange translation differences | 41 | (61) | |
At end of year | (5,269) | (4,812) | (4,929) |
Present value of defined benefit obligation [member] | UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (3,772) | (3,854) | |
Service cost | (21) | (27) | |
Past service credits/(cost) | 8 | (11) | |
Actuarial gain/(loss) on financial assumptions | (495) | 91 | |
Actuarial (loss)/gain arising from experience assumptions | 22 | 4 | |
Net interest on net defined benefit obligation | (104) | (98) | |
Contributions by employees | (9) | (8) | |
Benefits paid | 120 | 131 | |
At end of year | (4,251) | (3,772) | (3,854) |
Present value of defined benefit obligation [member] | US [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (1,040) | (1,075) | |
Service cost | (3) | (9) | |
Past service credits/(cost) | 5 | ||
Actuarial gain/(loss) on financial assumptions | (116) | 85 | |
Actuarial (loss)/gain arising from experience assumptions | (5) | 2 | |
Net interest on net defined benefit obligation | (42) | (38) | |
Liabilities (Assets) transferred on settlement | 65 | ||
Benefits paid | 77 | 56 | |
Exchange translation differences | 41 | (61) | |
At end of year | (1,018) | (1,040) | (1,075) |
Fair value of scheme assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 4,379 | 4,601 | |
Net interest on net defined benefit obligation | 134 | 127 | |
Return on assets excluding amounts included in interest income | 470 | (273) | |
Contributions by employer | 72 | 46 | |
Contributions by employees | 9 | 8 | |
Liabilities (Assets) transferred on settlement | (65) | ||
Benefits paid | (197) | (187) | |
Exchange translation differences | (40) | 57 | |
At end of year | 4,762 | 4,379 | 4,601 |
Fair value of scheme assets [member] | UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 3,413 | 3,589 | |
Net interest on net defined benefit obligation | 95 | 92 | |
Return on assets excluding amounts included in interest income | 304 | (184) | |
Contributions by employer | 66 | 39 | |
Contributions by employees | 9 | 8 | |
Benefits paid | (120) | (131) | |
At end of year | 3,767 | 3,413 | 3,589 |
Fair value of scheme assets [member] | US [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 966 | 1,012 | |
Net interest on net defined benefit obligation | 39 | 35 | |
Return on assets excluding amounts included in interest income | 166 | (89) | |
Contributions by employer | 6 | 7 | |
Liabilities (Assets) transferred on settlement | (65) | ||
Benefits paid | (77) | (56) | |
Exchange translation differences | (40) | 57 | |
At end of year | £ 995 | £ 966 | £ 1,012 |
Pension Schemes - Summary of Ne
Pension Schemes - Summary of Net Pension Obligations and Net Pension Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Defined Benefit Plans [Abstract] | ||
Net pension assets | £ 45 | £ 6 |
Net pension obligation | (565) | (439) |
Overall net pension obligation | £ (520) | £ (433) |
Pension Schemes - Amounts Rec_2
Pension Schemes - Amounts Recognised in Statement of Comprehensive Income (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gains and losses arising during the year: | |||
Experience gains/(losses) on scheme liabilities | £ 17 | £ 6 | £ (38) |
Experience gains/(losses) on scheme assets | 470 | (273) | 287 |
Actuarial (losses)/gains on defined benefit pension schemes | (124) | (91) | 233 |
Net cumulative losses at start of year | (704) | (613) | (846) |
Net cumulative losses at end of year | (828) | (704) | (613) |
Discount rates [member] | |||
Gains and losses arising during the year: | |||
Actuarial gain/(loss) on financial assumptions | (743) | 242 | (102) |
Inflation [member] | |||
Gains and losses arising during the year: | |||
Actuarial gain/(loss) on financial assumptions | 142 | 69 | |
Other actuarial assumptions [member] | |||
Gains and losses arising during the year: | |||
Actuarial gain/(loss) on financial assumptions | £ (10) | £ (66) | £ 17 |
Pension Schemes - Summary of Fa
Pension Schemes - Summary of Fair Value of Scheme Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of fair value of plan assets [line items] | ||
Equities | £ 1,484 | £ 1,243 |
Liability matching assets | 2,264 | 2,194 |
Property funds and ground leases | 715 | 723 |
Direct lending | 182 | 151 |
Cash and cash equivalents | 88 | 30 |
Other | 29 | 38 |
Total | 4,762 | 4,379 |
UK schemes [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 1,358 | 1,128 |
Liability matching assets | 1,414 | 1,363 |
Property funds and ground leases | 715 | 723 |
Direct lending | 182 | 151 |
Cash and cash equivalents | 75 | 26 |
Other | 32 | 22 |
Total | 3,767 | 3,413 |
Foreign schemes [member] | US [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 126 | 115 |
Liability matching assets | 850 | 831 |
Cash and cash equivalents | 13 | 4 |
Other | 6 | 16 |
Total | £ 995 | £ 966 |
Pension Schemes - Sensitivity A
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Detail) £ in Millions | Dec. 31, 2019GBP (£) |
Actuarial assumption of discount rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations | £ 228 |
Actuarial assumption of expected rates of inflation [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations | 105 |
Actuarial assumption of Mortality Rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations | £ 193 |
Pension Schemes - Sensitivity_2
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Actuarial assumption of discount rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase/decrease in actuarial assumption, percentage | 0.25% |
Actuarial assumption of expected rates of inflation [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase/decrease in actuarial assumption, percentage | 0.25% |
Actuarial assumption of Mortality Rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase/decrease in actuarial assumption, period | 1 year |
Net Finance Costs - Summary of
Net Finance Costs - Summary of Net Finance Costs (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Finance Costs [Abstract] | |||
Interest on short-term bank loans, overdrafts and commercial paper | £ (20) | £ (22) | £ (10) |
Interest on term debt | (266) | (161) | (154) |
Interest on lease liabilities | (15) | (14) | (17) |
Total borrowing costs | (301) | (197) | (181) |
Losses on loans and derivatives not designated as hedges | (10) | (9) | |
Fair value losses on designated fair value hedge relationships | (1) | ||
Net financing charge on defined benefit pension schemes | (13) | (9) | (15) |
Finance costs | (314) | (217) | (205) |
Interest on bank deposits | 3 | 4 | 3 |
Interest income on net finance lease receivables | 2 | 2 | 2 |
Fair value gains on designated fair value hedge relationships | 1 | 1 | |
Gains on loans and derivatives not designated as hedges | 3 | ||
Finance income | 9 | 6 | 6 |
Net finance costs | £ (305) | £ (211) | £ (199) |
Net Finance Costs - Additional
Net Finance Costs - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest Costs [Abstract] | |||
Net gain (loss) on interest rate derivatives designated as cash flow hedges | £ (1) | £ (8) | £ 63 |
Hedge reserve reclassified to income statement | 0 | £ 3 | 65 |
Gain (loss) related to foreign exchange movements on debt hedges | 78 | ||
Offset of foreign exchange gains (loss)on the related debt | £ (78) | ||
Interest expense on bonds | £ 99 | ||
Maturity date of debt instrument | October 2022 | ||
Description of redemption of bonds | The redemption of these bonds took place in January 2020 and was committed to at 31 December 2019. |
Disposals and other non-opera_3
Disposals and other non-operating items - Summary of Disposals and Other Non-operating Items (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |||
Revaluation of investments | £ 25 | £ (11) | £ 5 |
Gain/(loss) on disposal of businesses and assets held for sale | 26 | (22) | 10 |
Net gain/(loss) on disposals and other non-operating items | £ 51 | £ (33) | £ 15 |
Taxation - Summary of Tax Expen
Taxation - Summary of Tax Expense (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current tax | |||
Current tax | £ (382) | £ (297) | £ (439) |
Deferred tax | 44 | 5 | 374 |
Tax expense | (338) | (292) | (65) |
United Kingdom [member] | |||
Current tax | |||
Current tax | (141) | (71) | (104) |
Rest of world [member] | |||
Current tax | |||
Current tax | £ (241) | £ (226) | £ (335) |
Taxation - Additional Informati
Taxation - Additional Information (Detail) - GBP (£) £ in Millions | Jan. 01, 2021 | Apr. 01, 2020 | Jan. 01, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Tax paid (net) | £ 464 | £ 415 | £ 449 | |||
Applicable tax rate | 22.60% | 21.00% | 23.60% | |||
Deferred tax credit | £ 6 | £ 8 | £ 346 | |||
Reported tax rate | 18.30% | 17.00% | 3.80% | |||
Unused trading losses [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Unused losses for which no deferred tax asset has been recognised | £ 255 | £ 213 | ||||
Deferred tax asset not recognised | 66 | 52 | ||||
Unrecognised losses expiration within 10 years | 124 | 93 | ||||
Unrecognised losses expiration more than 10 years | 131 | 121 | ||||
Unused tax losses and other temporary differences [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Unused losses for which no deferred tax asset has been recognised | 33 | 24 | ||||
Deferred tax asset not recognised which can only be used to offset future capital gains | £ 6 | £ 4 | ||||
United Kingdom [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Applicable tax rate | 19.00% | |||||
United Kingdom [member] | Changes in tax rates or tax laws enacted or announced [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Applicable tax rate | 17.00% | |||||
US [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Federal corporate tax rate | 35.00% | |||||
US [member] | Changes in tax rates or tax laws enacted or announced [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Federal corporate tax rate | 21.00% | |||||
Netherlands [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Applicable tax rate | 25.00% | |||||
Netherlands [member] | Changes in tax rates or tax laws enacted or announced [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Applicable tax rate | 21.70% | |||||
Weighted average [member] | ||||||
Disclosure Of Income Tax Expenses [Line Items] | ||||||
Applicable tax rate | 22.60% | 21.00% | 23.60% |
Taxation - Weighted Average of
Taxation - Weighted Average of Tax Rates Applicable to Accounting Profits and Losses (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||
Profit before tax | £ 1,847 | £ 1,720 | £ 1,721 |
Tax at average applicable rates | (418) | (361) | (407) |
Tax effect of share of results of joint ventures | 10 | 8 | 7 |
Expenses not deductible for tax purposes | (3) | (24) | (15) |
Non-deductible costs of share based remuneration | (1) | (1) | (1) |
Non-deductible disposal-related gains and losses | 4 | (36) | |
Deferred tax assets of the period not recognised | (15) | (24) | (10) |
Change in recognition of deferred tax assets or liabilities | 12 | (15) | 16 |
Other adjustments in respect of prior periods | 73 | 13 | 35 |
Exceptional tax credit | 112 | 346 | |
Tax expense | £ (338) | £ (292) | £ (65) |
Tax at average applicable rates | 22.60% | 21.00% | 23.60% |
Tax effect of share of results of joint ventures | (0.50%) | (0.50%) | (0.40%) |
Expenses not deductible for tax purposes | 0.20% | 1.40% | 0.90% |
Non-deductible costs of share based remuneration | 0.10% | 0.10% | 0.10% |
Non-deductible disposal-related gains and losses | (0.20%) | 0.00% | 2.10% |
Deferred tax assets of the period not recognised | 0.80% | 1.40% | 0.60% |
Change in recognition of deferred tax assets or liabilities | (0.60%) | 0.90% | (0.90%) |
Other adjustments in respect of prior periods | (4.00%) | (0.80%) | (2.10%) |
Exceptional tax credit | (6.50%) | (20.10%) | |
Tax expense | 18.30% | 17.00% | 3.80% |
Taxation - Tax Recognised in Ot
Taxation - Tax Recognised in Other Comprehensive Income or Directly in Equity (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Tax on items that may be reclassified to profit or loss | |||
Tax on actuarial movements on defined benefit pension schemes | £ 23 | £ 15 | £ (59) |
Tax on fair value movements on cash flow hedges | (8) | 9 | (30) |
Net tax credit/(debit) recognised in other comprehensive income | 15 | 24 | (89) |
Tax credit/(debit) on share based remuneration recognised directly in equity | 6 | (3) | 8 |
Deferred tax assets | 239 | 455 | |
Deferred tax liabilities | (593) | (830) | |
Total | £ (354) | £ (375) | £ (307) |
Taxation - Movements in Deferre
Taxation - Movements in Deferred Tax Liabilities and Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | £ (375) | £ (307) |
Credit/(charge) to profit | 44 | 5 |
Credit/(charge) to equity/other comprehensive income | 6 | 12 |
Acquisitions | (44) | (51) |
Exchange translation differences | 15 | (34) |
Deferred tax (liability)/asset at end of year | (354) | (375) |
Excess of tax allowances over amortisation [member] | Deferred tax liabilities [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | (204) | (267) |
Credit/(charge) to profit | 48 | 75 |
Exchange translation differences | 6 | (12) |
Deferred tax (liability)/asset at end of year | (150) | (204) |
Acquired intangible assets [member] | Deferred tax liabilities [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | (527) | (426) |
Credit/(charge) to profit | 9 | 13 |
Acquisitions | (44) | (88) |
Exchange translation differences | 19 | (26) |
Deferred tax (liability)/asset at end of year | (543) | (527) |
Other temporary differences [member] | Deferred tax liabilities [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | (306) | (302) |
Credit/(charge) to profit | 19 | 13 |
Credit/(charge) to equity/other comprehensive income | (17) | |
Acquisitions | 0 | |
Exchange translation differences | 14 | (17) |
Deferred tax (liability)/asset at end of year | (290) | (306) |
Other temporary differences [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 273 | 278 |
Credit/(charge) to profit | 7 | (16) |
Credit/(charge) to equity/other comprehensive income | 10 | (3) |
Exchange translation differences | (11) | 14 |
Deferred tax (liability)/asset at end of year | 279 | 273 |
Excess of amortisation over tax allowances [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 207 | 257 |
Credit/(charge) to profit | (19) | (51) |
Exchange translation differences | (9) | 1 |
Deferred tax (liability)/asset at end of year | 179 | 207 |
Tax losses carried forward [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 96 | 87 |
Credit/(charge) to profit | (18) | (32) |
Acquisitions | 37 | |
Exchange translation differences | (3) | 4 |
Deferred tax (liability)/asset at end of year | 75 | 96 |
Pension balances [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 86 | 66 |
Credit/(charge) to profit | (2) | 3 |
Credit/(charge) to equity/other comprehensive income | 13 | 15 |
Exchange translation differences | (1) | 2 |
Deferred tax (liability)/asset at end of year | £ 96 | £ 86 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share - 2019, 2018 and 2017 (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Net profit attributable to RELX PLC shareholders | £ 1,505 | £ 1,422 | £ 1,648 |
Weighted average number of shares, Basic | 1,943.5 | 1,977.2 | 2,019.4 |
EPS, Basic | £ 0.774 | £ 0.719 | £ 0.816 |
Net profit attributable to RELX PLC shareholders | £ 1,505 | £ 1,422 | £ 1,648 |
Weighted average number of shares, Diluted | 1,956.2 | 1,990.8 | 2,035.2 |
EPS, Diluted | £ 0.769 | £ 0.714 | £ 0.810 |
Earnings Per Share - Summary _2
Earnings Per Share - Summary of Adjusted Earnings Per Share (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Adjusted net profit attributable to RELX PLC shareholders | £ 1,808 | £ 1,674 | £ 1,620 |
Weighted average number of shares, Basic | 1,943.5 | 1,977.2 | 2,019.4 |
Adjusted EPS | £ 0.930 | £ 0.847 | £ 0.802 |
Earnings Per Share - Summary _3
Earnings Per Share - Summary of Reconciliation of Adjusted Net Profit Attributable to Parent (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
RELX PLC shareholders | £ 1,505 | £ 1,422 | £ 1,648 |
Adjustments (post-tax): | |||
Amortisation of acquired intangible assets | 321 | 322 | 356 |
Acquisition-related costs | 69 | 71 | 43 |
Net interest on defined benefit pension obligations and other | 10 | 7 | 11 |
Disposals and other non-operating items | (40) | 19 | 1 |
Other deferred tax credits from intangible assets | (57) | (55) | (93) |
Exceptional tax credit | (112) | (346) | |
Adjusted net profit attributable to RELX PLC shareholders | £ 1,808 | £ 1,674 | £ 1,620 |
Statement of cash flows - Sched
Statement of cash flows - Schedule of Reconciliation of Profit Before Tax to Cash Generated from Operations (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Operating profit | £ 2,101 | £ 1,964 | £ 1,905 |
Share of results of joint ventures | (41) | (32) | (37) |
Amortisation of acquired intangible assets | 294 | 287 | 313 |
Amortisation of internally developed intangible assets | 249 | 225 | 203 |
Depreciation of property, plant and equipment | 58 | 62 | 65 |
Depreciation of right of use assets | 82 | 77 | 75 |
Share based remuneration | 32 | 41 | 39 |
Total non-cash items | 715 | 692 | 695 |
(Increase)/decrease in inventories and pre-publication costs | (14) | (7) | 2 |
(Increase)/decrease in receivables | (116) | (89) | 37 |
Increase/(decrease) in payables | 79 | 27 | (76) |
Increase in working capital | (51) | (69) | (37) |
Cash generated from operations | £ 2,724 | £ 2,555 | £ 2,526 |
Statement of cash flows - Sch_2
Statement of cash flows - Schedule of Cash Flow on Acquisitions (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Purchase of businesses | £ (399) | £ (919) | £ (117) |
Investment in joint ventures | (1) | ||
Deferred payments relating to prior year acquisitions | (24) | (16) | (13) |
Total | £ (423) | £ (935) | £ (131) |
Statement of cash flows - Sch_3
Statement of cash flows - Schedule of Reconciliation of Net Borrowings (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | £ (6,177) | £ (5,042) | £ (5,050) |
Increase/(decrease) in cash and cash equivalents | 27 | 1 | (45) |
(Increase)/decrease in short-term bank loans, overdrafts and commercial paper | (98) | (147) | 148 |
Issuance of term debt | (729) | (958) | (873) |
Repayment of term debt | 617 | 211 | 712 |
Repayment of leases | 86 | 81 | 78 |
Change in net borrowings resulting from cash flows | (97) | (812) | 20 |
Borrowings in acquired businesses | (6) | (12) | |
Remeasurement and derecognition of leases | (28) | (12) | (6) |
Inception of leases | (60) | (28) | (36) |
Fair value and other adjustments to borrowings and related derivatives | (94) | (25) | (11) |
Exchange translation differences | 271 | (246) | 41 |
Net borrowings at end of year | (6,191) | (6,177) | £ (5,042) |
Cash and cash equivalents [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | 114 | ||
Increase/(decrease) in cash and cash equivalents | 27 | ||
Change in net borrowings resulting from cash flows | 27 | ||
Exchange translation differences | (3) | ||
Net borrowings at end of year | 138 | 114 | |
Borrowings [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | (6,365) | ||
(Increase)/decrease in short-term bank loans, overdrafts and commercial paper | (98) | ||
Issuance of term debt | (729) | ||
Repayment of term debt | 617 | ||
Repayment of leases | 102 | ||
Change in net borrowings resulting from cash flows | (108) | ||
Borrowings in acquired businesses | (6) | ||
Remeasurement and derecognition of leases | (28) | ||
Inception of leases | (62) | ||
Fair value and other adjustments to borrowings and related derivatives | (123) | ||
Exchange translation differences | 278 | ||
Net borrowings at end of year | (6,414) | (6,365) | |
Related derivative financial instruments [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | 25 | ||
Fair value and other adjustments to borrowings and related derivatives | 29 | ||
Exchange translation differences | (2) | ||
Net borrowings at end of year | 52 | 25 | |
Finance lease receivable [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | 49 | ||
Repayment of leases | (16) | ||
Change in net borrowings resulting from cash flows | (16) | ||
Inception of leases | 2 | ||
Exchange translation differences | (2) | ||
Net borrowings at end of year | £ 33 | £ 49 |
Acquisitions - Consideration Pa
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Business Combinations [Abstract] | |||
Goodwill | £ 257 | £ 626 | £ 77 |
Intangible assets | 245 | 423 | 56 |
Property, plant and equipment | 1 | 5 | |
Current assets | 20 | 24 | 3 |
Non-current assets | 4 | 12 | |
Current liabilities | (53) | (72) | (16) |
Borrowings | (6) | (12) | |
Deferred tax | (44) | (51) | (2) |
Net assets acquired | 424 | 955 | 118 |
Consideration (after taking account of £32m (2018: £27m; 2017: £7m) net cash acquired) | 424 | 955 | 118 |
Less: consideration deferred to future years | (10) | (36) | (1) |
Less: acquisition date fair value of equity interest | (15) | ||
Net cash flow | £ 399 | £ 919 | £ 117 |
Acquisitions - Consideration _2
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Parenthetical) (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Business Combinations [Abstract] | |||
Cash of acquired businesses at acquisition date | £ 32 | £ 27 | £ 7 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2017 | |
Disclosure Of Business Combinations [Line Items] | |||
Revenue contributed by business acquisition | £ 51 | ||
Increased adjusted operating profit | 8 | ||
Decreased net profit | 9 | ||
Integration costs and amortisation of acquired intangibles | 17 | ||
Net cash inflow from operating activities contributed by business acquisition | 3 | ||
Group revenue, pro forma basis | 7,897 | ||
Adjusted operating profit, pro forma basis | 2,487 | ||
Adjusted net profit, pro forma basis | 1,501 | ||
Aggregate consideration of business acquisition | £ 955 | £ 424 | £ 118 |
ID Analytics and Emailage [member] | |||
Disclosure Of Business Combinations [Line Items] | |||
Aggregate consideration of business acquisition | £ 600 |
Equity Dividends - Ordinary Div
Equity Dividends - Ordinary Dividends Paid (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of dividends [line items] | |||
Ordinary dividends paid | £ 842 | £ 796 | £ 762 |
RELX PLC [member] | |||
Disclosure of dividends [line items] | |||
Ordinary dividends paid | £ 842 | 420 | 400 |
RELX NV [member] | |||
Disclosure of dividends [line items] | |||
Ordinary dividends paid | £ 376 | £ 362 |
Equity Dividends - Additional I
Equity Dividends - Additional Information (Detail) - GBP (£) £ / shares in Units, £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of dividends [line items] | |||
Dividend payables | £ 620 | ||
RELX PLC [member] | |||
Disclosure of dividends [line items] | |||
Final dividend | £ 0.297 | £ 0.277 | £ 0.257 |
Interim dividend | 0.136 | 0.124 | 0.117 |
Total dividends | 0.433 | 0.401 | 0.374 |
Final dividend proposed | 32.1 | 29.7 | 27.7 |
Dividend proposed | £ 45.7 | £ 42.1 | £ 39.4 |
Goodwill - Summary of Changes i
Goodwill - Summary of Changes in Goodwill (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract] | ||
At start of year | £ 6,899 | £ 5,965 |
Acquisitions | 257 | 626 |
Disposals/reclassified as held for sale | (64) | (25) |
Exchange translation differences | (268) | 333 |
At end of year | £ 6,824 | £ 6,899 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 6,824 | £ 6,899 | £ 5,965 |
Impairment of goodwill | £ 0 | 0 | |
Nominal long-term market growth rates maximum forecast period | 5 years | ||
Growth in cash flows over forecast period | 5 years | ||
Increase in discount rate | 0.50% | ||
Decrease in the compound annual growth rate for cash flow | 2.00% | ||
Decrease in nominal long-term market growth rates | 0.50% | ||
Impairment charges result from sensitivity analysis | £ 0 | ||
Description of changes in methods and assumptions used in preparing sensitivity analysis | A sensitivity analysis has been performed based on changes in key assumptions considered to be reasonably possible by management: an increase in the discount rate of 0.5%, a decrease in the compound annual growth rate for cash flow in the five-year forecast period of 2.0%, and a decrease in the nominal long-term market growth rates of 0.5%. The sensitivity analysis shows that no impairment charges would result from these scenarios. | ||
Accumulated amortisation [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 1,178 | 1,222 | |
Accumulated impairment [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 9 | £ 9 |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill by Segment (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 6,824 | £ 6,899 | £ 5,965 |
Scientific, Technical & Medical [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 1,594 | 1,620 | |
Risk & Business Analytics [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 3,186 | 3,283 | |
Legal [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 1,428 | 1,465 | |
Exhibitions [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 616 | £ 531 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used for Each Group of Cash Generating Units (Detail) | Dec. 31, 2019 | Dec. 31, 2018 |
Scientific, Technical & Medical [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 9.40% | 10.00% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Risk & Business Analytics [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 10.00% | 11.50% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Legal [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 10.60% | 12.20% |
Nominal long-term market growth rate | 2.00% | 2.00% |
Exhibitions [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 11.60% | 12.70% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets | £ 3,452 | £ 3,534 |
Market and customer-related [member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Finite-lived intangible assets, useful life | 3 years | |
Market and customer-related [member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Finite-lived intangible assets, useful life | 40 years | |
Content, software and other [member] | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Finite-lived intangible assets, useful life | 3 years | |
Content, software and other [member] | Top of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Finite-lived intangible assets, useful life | 20 years | |
Internally Developed Intangible Assets | Bottom of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Finite-lived intangible assets, useful life | 3 years | |
Internally Developed Intangible Assets | Top of range [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Finite-lived intangible assets, useful life | 10 years | |
Content software and other acquired intangible assets [member] | Acquired pre-IFRS [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets | £ 54 | 80 |
Scientific, Technical & Medical [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful lives | £ 114 | £ 119 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | £ 3,534 | |
Intangible assets other than goodwill at end of period | 3,452 | £ 3,534 |
Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 10,695 | 9,702 |
Acquisitions | 245 | 423 |
Additions | 333 | 304 |
Disposals/reclassified as held for sale | (215) | (174) |
Exchange translation differences | (382) | 440 |
Intangible assets other than goodwill at end of period | 10,676 | 10,695 |
Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 7,161 | 6,508 |
Charge for the year | 543 | 512 |
Disposals/reclassified as held for sale | (215) | (137) |
Exchange translation differences | (265) | 278 |
Intangible assets other than goodwill at end of period | 7,224 | 7,161 |
Acquired intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 2,317 | |
Intangible assets other than goodwill at end of period | 2,188 | 2,317 |
Acquired intangible assets [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 7,749 | 7,011 |
Acquisitions | 245 | 423 |
Disposals/reclassified as held for sale | (85) | (26) |
Exchange translation differences | (274) | 341 |
Intangible assets other than goodwill at end of period | 7,635 | 7,749 |
Acquired intangible assets [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 5,432 | 4,953 |
Charge for the year | 294 | 287 |
Disposals/reclassified as held for sale | (85) | (26) |
Exchange translation differences | (194) | 218 |
Intangible assets other than goodwill at end of period | 5,447 | 5,432 |
Acquired intangible assets [member] | Market and customer-related [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,859 | |
Intangible assets other than goodwill at end of period | 1,771 | 1,859 |
Acquired intangible assets [member] | Market and customer-related [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 4,025 | 3,519 |
Acquisitions | 161 | 310 |
Disposals/reclassified as held for sale | (28) | (15) |
Exchange translation differences | (158) | 211 |
Intangible assets other than goodwill at end of period | 4,000 | 4,025 |
Acquired intangible assets [member] | Market and customer-related [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 2,166 | 1,907 |
Charge for the year | 182 | 169 |
Disposals/reclassified as held for sale | (28) | (15) |
Exchange translation differences | (91) | 105 |
Intangible assets other than goodwill at end of period | 2,229 | 2,166 |
Acquired intangible assets [member] | Content, software and other [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 458 | |
Intangible assets other than goodwill at end of period | 417 | 458 |
Acquired intangible assets [member] | Content, software and other [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 3,724 | 3,492 |
Acquisitions | 84 | 113 |
Disposals/reclassified as held for sale | (57) | (11) |
Exchange translation differences | (116) | 130 |
Intangible assets other than goodwill at end of period | 3,635 | 3,724 |
Acquired intangible assets [member] | Content, software and other [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 3,266 | 3,046 |
Charge for the year | 112 | 118 |
Disposals/reclassified as held for sale | (57) | (11) |
Exchange translation differences | (103) | 113 |
Intangible assets other than goodwill at end of period | 3,218 | 3,266 |
Internally developed intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,217 | |
Intangible assets other than goodwill at end of period | 1,264 | 1,217 |
Internally developed intangible assets [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 2,946 | 2,691 |
Additions | 333 | 304 |
Disposals/reclassified as held for sale | (130) | (148) |
Exchange translation differences | (108) | 99 |
Intangible assets other than goodwill at end of period | 3,041 | 2,946 |
Internally developed intangible assets [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,729 | 1,555 |
Charge for the year | 249 | 225 |
Disposals/reclassified as held for sale | (130) | (111) |
Exchange translation differences | (71) | 60 |
Intangible assets other than goodwill at end of period | £ 1,777 | £ 1,729 |
Investments - Summary of Invest
Investments - Summary of Investments (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Investments In Joint Ventures And Other Investments [Line Items] | |||
Investments in joint ventures | £ 118 | £ 104 | £ 102 |
Investments [member] | |||
Disclosure Of Investments In Joint Ventures And Other Investments [Line Items] | |||
Investments in joint ventures | 118 | 104 | |
Venture capital investments | 133 | 151 | |
Total | £ 251 | £ 255 |
Investments - Summary of Analys
Investments - Summary of Analysis of Changes in Carrying Value of Investments in Joint Ventures (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Analysis Of Changes In The Carrying Value Of Investments In Joint Ventures [Abstract] | |||
At start of year | £ 104 | £ 102 | |
Share of results of joint ventures | 41 | 32 | |
Dividends received from joint ventures | (34) | (30) | £ (38) |
Additions | 24 | 2 | |
Disposals | (11) | ||
Exchange translation differences | (6) | (2) | |
At end of year | £ 118 | £ 104 | £ 102 |
Investments - Summary of Group'
Investments - Summary of Group's Share of Joint Ventures (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Revenue | £ 7,874 | £ 7,492 | £ 7,341 |
Net profit for the year | 41 | 32 | |
Total assets | 13,789 | 13,999 | |
Total liabilities | (11,599) | (11,640) | |
Net assets | 2,190 | 2,359 | |
Goodwill | 6,824 | 6,899 | 5,965 |
Total | 118 | 104 | 102 |
Joint ventures [member] | |||
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Revenue | 123 | 101 | |
Net profit for the year | 41 | 32 | £ 37 |
Total assets | 112 | 96 | |
Total liabilities | (58) | (49) | |
Net assets | 54 | 47 | |
Goodwill | 64 | 57 | |
Total | £ 118 | £ 104 |
Investments - Additional Inform
Investments - Additional Information (Details) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Net profit for the year | £ 1,509 | £ 1,428 | £ 1,656 |
Joint ventures [member] | |||
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Net profit for the year | £ 0 |
Property, Plant and Equipment -
Property, Plant and Equipment - Additional Information (Detail) - GBP (£) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | £ 180,000,000 | £ 198,000,000 |
Freehold land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation | 0 | 0 |
Property, plant and equipment | £ 14,000,000 | £ 14,000,000 |
Freehold buildings [Member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 50 years | |
Long lease [member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 50 years | |
Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives, description | shorter of life of lease and 10 years | |
Plant [member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 20 years | |
Plant [member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 3 years | |
Office furniture, fixtures and fittings [member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 10 years | |
Office furniture, fixtures and fittings [member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 5 years | |
Computer systems, communication networks and equipment [member] | Top of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 7 years | |
Computer systems, communication networks and equipment [member] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 3 years |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | £ 198 | |
At end of year | 180 | £ 198 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 863 | 816 |
Acquisitions | 1 | 5 |
Capital expenditure | 47 | 56 |
Disposals/reclassified as held for sale | (67) | (48) |
Exchange translation differences | (29) | 34 |
At end of year | 815 | 863 |
Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 665 | 622 |
Charge for the year | 58 | 62 |
Disposals/reclassified as held for sale | (66) | (46) |
Exchange translation differences | (22) | 27 |
At end of year | 635 | 665 |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 77 | |
At end of year | 70 | 77 |
Land and buildings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 223 | 217 |
Acquisitions | 1 | |
Capital expenditure | 5 | 5 |
Disposals/reclassified as held for sale | (8) | (8) |
Exchange translation differences | (8) | 9 |
At end of year | 213 | 223 |
Land and buildings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 146 | 137 |
Charge for the year | 9 | 9 |
Disposals/reclassified as held for sale | (7) | (6) |
Exchange translation differences | (5) | 6 |
At end of year | 143 | 146 |
Fixtures and fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 121 | |
At end of year | 110 | 121 |
Fixtures and fittings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 640 | 599 |
Acquisitions | 5 | |
Capital expenditure | 42 | 51 |
Disposals/reclassified as held for sale | (59) | (40) |
Exchange translation differences | (21) | 25 |
At end of year | 602 | 640 |
Fixtures and fittings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 519 | 485 |
Charge for the year | 49 | 53 |
Disposals/reclassified as held for sale | (59) | (40) |
Exchange translation differences | (17) | 21 |
At end of year | £ 492 | £ 519 |
Financial Instruments - Liquidi
Financial Instruments - Liquidity Risk - Additional Information (Detail) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019GBP (£) | Dec. 31, 2018GBP (£) | Dec. 31, 2019USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||
Maximum maturity amount of short-term debt | $ | $ 1,500,000,000 | ||
Other payables | £ 108 | ||
Committed bank facility | £ 2,262 | $ 3,000,000,000 | |
Committed bank facility maturity date | 2024-07 | ||
Committed bank facility maturity period | 12 months | ||
Derivatives not designated as hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative instruments not designated as hedging instruments, at fair value | £ 17 | £ 13 | |
Financial instruments designated as hedging instruments, at fair value | 4 | 7 | |
Fair value hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial liabilities | 4 | 15 | |
Derivative financial assets | 50 | 33 | |
Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial liabilities | 13 | 41 | |
Derivative financial assets | £ 27 | £ 7 | |
Bottom of range [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Minimum levels of maintained borrowing maturities | 3 years | ||
Put option settlement | 4 years | ||
Top of range [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Minimum levels of maintained borrowing maturities | 5 years | ||
Put option settlement | 5 years |
Financial Instruments - Summary
Financial Instruments - Summary of Remaining Contractual Maturities for Borrowings and Derivative Financial Instruments (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | £ (6,414) | £ (6,365) |
Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (7,177) | (7,281) |
Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (2,060) | (1,392) |
Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (2,214) | (1,572) |
1-2 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (512) | (595) |
1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (616) | (718) |
2-3 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (90) | (521) |
2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (191) | (647) |
3-4 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (705) | (730) |
3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (782) | (939) |
4-5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (462) | (696) |
4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (536) | (774) |
More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (2,585) | (2,431) |
More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (2,838) | (2,631) |
Fixed rate borrowings [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (6,015) | (6,080) |
Fixed rate borrowings [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (1,332) | (752) |
Fixed rate borrowings [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (528) | (610) |
Fixed rate borrowings [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (134) | (552) |
Fixed rate borrowings [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (732) | (879) |
Fixed rate borrowings [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (498) | (732) |
Fixed rate borrowings [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (2,791) | (2,555) |
Floating rate borrowings [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (779) | (690) |
Floating rate borrowings [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (779) | (686) |
Floating rate borrowings [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (4) | |
Lease liabilities [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (388) | (411) |
Lease liabilities [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (104) | (104) |
Lease liabilities [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (92) | (92) |
Lease liabilities [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (62) | (75) |
Lease liabilities [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (50) | (47) |
Lease liabilities [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (32) | (30) |
Lease liabilities [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (48) | (63) |
Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (6,367) | (6,387) |
Carrying amount [member] | Fixed rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (5,293) | (5,315) |
Carrying amount [member] | Floating rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (779) | (690) |
Carrying amount [member] | Lease liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (342) | (360) |
Interest rate derivatives [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (4) | (19) |
Derivative financial assets | 48 | 37 |
Interest rate derivatives [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1) | (2) |
Derivative financial assets | 19 | 12 |
Interest rate derivatives [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | |
Derivative financial assets | 10 | 13 |
Interest rate derivatives [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | |
Derivative financial assets | 8 | 3 |
Interest rate derivatives [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | |
Derivative financial assets | 8 | 1 |
Interest rate derivatives [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1) | (3) |
Derivative financial assets | 3 | 5 |
Interest rate derivatives [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | (8) |
Derivative financial assets | 3 | |
Interest rate derivatives [member] | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (4) | (15) |
Derivative financial assets | 35 | 21 |
Cross-currency interest rate swaps [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (635) | (707) |
Derivative financial assets | 593 | 635 |
Cross-currency interest rate swaps [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (41) | (48) |
Derivative financial assets | 31 | 33 |
Cross-currency interest rate swaps [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (16) | (21) |
Derivative financial assets | 7 | 8 |
Cross-currency interest rate swaps [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (16) | (21) |
Derivative financial assets | 7 | 8 |
Cross-currency interest rate swaps [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (35) | (21) |
Derivative financial assets | 26 | 8 |
Cross-currency interest rate swaps [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (15) | (39) |
Derivative financial assets | 7 | 25 |
Cross-currency interest rate swaps [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (512) | (557) |
Derivative financial assets | 515 | 553 |
Cross-currency interest rate swaps [member] | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1) | (1) |
Derivative financial assets | 14 | 13 |
Forward foreign exchange contracts [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2,548) | (2,079) |
Derivative financial assets | 2,551 | 2,033 |
Forward foreign exchange contracts [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1,984) | (1,498) |
Derivative financial assets | 1,977 | 1,473 |
Forward foreign exchange contracts [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (351) | (375) |
Derivative financial assets | 354 | 361 |
Forward foreign exchange contracts [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (179) | (181) |
Derivative financial assets | 185 | 173 |
Forward foreign exchange contracts [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (34) | (25) |
Derivative financial assets | 35 | 26 |
Forward foreign exchange contracts [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | 0 | |
Forward foreign exchange contracts [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | 0 | |
Forward foreign exchange contracts [member] | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (29) | (53) |
Derivative financial assets | £ 32 | £ 13 |
Financial Instruments - Market
Financial Instruments - Market Risk - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about financial instruments [line items] | |||
Assumed weakening of foreign currencies | 10.00% | ||
Decrease in carrying value of net assets due to assumed weakening of foreign currencies | £ 749 | £ 782 | |
Decrease in net borrowings | 526 | £ 625 | |
Assumed strengthening of foreign currencies | 10.00% | ||
Increase the carrying value of net assets, excluding net borrowings | 749 | £ 782 | |
Increase net borrowings | 526 | 625 | |
Decrease in net profit | 129 | 127 | |
Increase in net profit | £ 129 | 127 | |
Foreign currency exposure management [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedging of highly predictable future cash flows | 24 months | ||
Foreign currency exposure management [member] | Scientific, Technical & Medical subscription businesses [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedging of highly predictable future cash flows | 50 months | ||
Market risk [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Percentage of borrowings with either fixed interest rate or fixed through the use of interest rate swaps, forward rate agreements or options | 46.00% | ||
Borrowings, interest rate basis | 1.00% | ||
Decrease in net finance costs | £ 31 | 32 | |
Increase in net finance costs | 31 | 32 | |
Increase in net equity | 1 | £ 1 | |
Decrease in net equity | £ 1 | £ 1 |
Financial Instruments - Credit
Financial Instruments - Credit Risk - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | £ 138 | £ 114 | £ 111 | £ 162 |
Trade receivables | 1,858 | 1,829 | ||
Up to one month [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 215 | 181 | ||
Two to three months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 108 | 93 | ||
Four to six months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 39 | 37 | ||
Greater than six months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 45 | 35 | ||
Credit risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | £ 138 | £ 114 | ||
Credit risk [member] | Banks rated A-/A3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Percentage of cash and cash equivalents held with bank". | 93.00% | 93.00% |
Financial Instruments - Summa_2
Financial Instruments - Summary of Cash Flow Hedges (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (2,496) | £ (2,623) |
€550m loan notes and €550m interest rate swaps maturing 2020 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (466) | (494) |
Fixed rate | 2.50% | |
Floating rate | LIBOR+ 1.1% | |
€500m bond and €500m interest rate swaps maturing 2021 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (423) | (449) |
Fixed rate | 0.40% | |
Floating rate | LIBOR+ 0.3% | |
$700m bond and $700m interest rate swaps maturing 2023 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (528) | (549) |
Fixed rate | 3.50% | |
Floating rate | LIBOR+ 0.8% | |
€500m bond and €500m interest rate swaps maturing 2024 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (423) | (449) |
Fixed rate | 1.00% | |
Floating rate | LIBOR+ 0.7% | |
€600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (505) | (525) |
Fixed rate | 1.30% | |
Floating rate | LIBOR+ 1.3% | |
$200m bond and $200m interest rate swaps maturing 2027 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (151) | £ (157) |
Fixed rate | 7.20% | |
Floating rate | LIBOR+ 5.8% |
Financial Instruments - Summa_3
Financial Instruments - Summary of Gains and Losses on the Borrowings and Related Derivatives Designated as Fair Value Hedges (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | £ (1) | £ (1) | |
Fair value movement gain/(loss) £m | 1 | £ (1) | 1 |
31 December 2019 £m | (1) | ||
Carrying values £m | (2,500) | (2,628) | (2,064) |
USD debt [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | 13 | 12 | 16 |
Fair value movement gain/(loss) £m | (26) | (1) | |
Exchange gain/(loss) £m | 1 | (1) | |
31 December 2019 £m | (13) | 13 | 12 |
Carrying values £m | (699) | (701) | (147) |
De-designated £m | (2) | ||
USD debt Related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | (14) | (12) | (16) |
Fair value movement gain/(loss) £m | 27 | (1) | 1 |
Exchange gain/(loss) £m | (1) | 1 | |
31 December 2019 £m | 13 | (14) | (12) |
Carrying values £m | 13 | (14) | (12) |
De-designated £m | 2 | ||
total of USD debt and Interest rate swaps [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | (1) | ||
Fair value movement gain/(loss) £m | 1 | (1) | |
31 December 2019 £m | (1) | ||
Carrying values £m | (686) | (715) | (159) |
EUR debt [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | (39) | (17) | (33) |
Fair value movement gain/(loss) £m | (2) | (21) | 17 |
Exchange gain/(loss) £m | 2 | (1) | (1) |
31 December 2019 £m | (39) | (39) | (17) |
Carrying values £m | (1,853) | (1,952) | (1,922) |
EUR Debt related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | 39 | 17 | 32 |
Fair value movement gain/(loss) £m | 2 | 21 | (16) |
Exchange gain/(loss) £m | (2) | 1 | 1 |
31 December 2019 £m | 39 | 39 | 17 |
Carrying values £m | 39 | 39 | 17 |
Net Relating to USD, GBP, EUR And CHF Debt [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | (26) | (5) | (17) |
Fair value movement gain/(loss) £m | (28) | (21) | 16 |
Exchange gain/(loss) £m | 2 | (2) | |
31 December 2019 £m | (52) | (26) | (5) |
Carrying values £m | (2,552) | (2,653) | (2,069) |
De-designated £m | (2) | ||
Total of Eur debt and interest rate swaps [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | (1) | ||
Fair value movement gain/(loss) £m | 1 | ||
Carrying values £m | (1,814) | (1,913) | (1,905) |
Total related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2019 £m | 25 | 5 | 16 |
Fair value movement gain/(loss) £m | 29 | 20 | (15) |
Exchange gain/(loss) £m | (2) | 2 | |
31 December 2019 £m | 52 | 25 | 5 |
Carrying values £m | £ 52 | £ 25 | 5 |
De-designated £m | £ 2 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value Hedges - Additional Information (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Cash inflow from de-designation of derivatives previously held at fair value | £ 62 | |
Fair value hedge de-designated in 2008 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Fair value adjustments to borrowings de-designated in a fair value hedge relationship | 19 | £ 23 |
Amortisation of fair value adjustments | £ 3 | £ 3 |
Financial Instruments - Cash Fl
Financial Instruments - Cash Flow Hedges - Additional Information (Detail) € in Millions, £ in Millions, SFr in Millions | 12 Months Ended | |||
Dec. 31, 2019GBP (£) | Dec. 31, 2018GBP (£) | May 31, 2015EUR (€) | Jun. 30, 2013CHF (SFr) | |
Disclosure Of Financial Instruments [Abstract] | ||||
Bonds issued | € 600 | SFr 275 | ||
Deferred tax credit in respect of hedge reserve gains (losses) | £ 0 | £ 8 | ||
Cash flow hedge gain (loss) recognised in revenue | 35 | 20 | ||
Cash flow hedge gain (loss) recognised in finance costs | 0 | 3 | ||
Tax credits in relation to cash flow hedges | £ 6 | £ 3 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Movements in the Hedge Reserve Including Gains and Losses on Cash Flow Hedging Instruments (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | £ (44) | £ (2) | |
Gain (Losses) arising during the period | 16 | (59) | £ 137 |
Transfer to net profit from cash flow hedge reserve | 35 | 17 | 25 |
Hedge reserve balance at the end of the period: gains/(Losses) deferred | 7 | (44) | (2) |
Interest rate hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | 1 | 5 | |
Reclassification on 1 January 2018 | (1) | ||
Gain (Losses) arising during the period | (1) | ||
Transfer to net profit from cash flow hedge reserve | (3) | ||
Hedge reserve balance at the end of the period: gains/(Losses) deferred | 1 | 5 | |
Cost of hedging reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | (7) | ||
Reclassification on 1 January 2018 | 1 | ||
Gain (Losses) arising during the period | (8) | ||
Hedge reserve balance at the end of the period: gains/(Losses) deferred | (7) | (7) | |
Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | (38) | (7) | |
Gain (Losses) arising during the period | 17 | (51) | |
Transfer to net profit from cash flow hedge reserve | 35 | 20 | |
Hedge reserve balance at the end of the period: gains/(Losses) deferred | £ 14 | £ (38) | £ (7) |
Financial Instruments - Summa_5
Financial Instruments - Summary of Deferred Gains and Losses on Cash Flow Hedges Currently Expected to Recognised in Future Period (Detail) £ in Millions | Dec. 31, 2019GBP (£) |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | £ 12 |
Within 1 year [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 5 |
1-2 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 2 |
2-3 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 4 |
3-4 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 1 |
Foreign currency hedge reserve [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 14 |
Foreign currency hedge reserve [member] | Within 1 year [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 7 |
Foreign currency hedge reserve [member] | 1-2 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 2 |
Foreign currency hedge reserve [member] | 2-3 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 4 |
Foreign currency hedge reserve [member] | 3-4 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 1 |
Principal Amount of Hedges [Member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 1,151 |
Principal Amount of Hedges [Member] | Within 1 year [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 502 |
Principal Amount of Hedges [Member] | 1-2 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 394 |
Principal Amount of Hedges [Member] | 2-3 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 221 |
Principal Amount of Hedges [Member] | 3-4 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | £ 34 |
Inventories and Pre-publicati_3
Inventories and Pre-publication Costs - Summary of Inventories and Pre-Publication Costs (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Information About Inventories Explanatory [Abstract] | ||
Raw materials | £ 2 | £ 2 |
Pre-publication costs | 181 | 171 |
Finished goods | 34 | 39 |
Total | £ 217 | £ 212 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Trade And Other Receivables [Abstract] | |||
Trade receivables | £ 1,858 | £ 1,829 | |
Loss allowance | (88) | (87) | £ (79) |
Trade receivables before prepayments and accrued income | 1,770 | 1,742 | |
Prepayments and accrued income | 236 | 224 | |
Tax receivable | 28 | ||
Net finance lease receivable | 33 | 49 | |
Total | £ 2,067 | £ 2,015 |
Trade and Other Receivables -_2
Trade and Other Receivables - Summary of Movements in Loss Allowance for Expected Credit Losses (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Trade And Other Receivables [Abstract] | ||
At start of year | £ 87 | £ 79 |
Charge for the year | 8 | 14 |
Trade receivables written off | (4) | (8) |
Exchange translation differences | (3) | 2 |
At end of year | £ 88 | £ 87 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Trade And Other Payables [Abstract] | ||
Trade payables | £ 173 | £ 187 |
Accruals | 684 | 711 |
Social security and other taxes | 129 | 127 |
Other payables | 422 | 407 |
Deferred income | 2,071 | 2,000 |
Total | £ 3,479 | £ 3,432 |
Borrowings - Summary of types o
Borrowings - Summary of types of Borrowings both Current and Non-current (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | £ 6,414 | £ 6,365 |
Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 779 | 686 |
Term debt, excluding fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 2,508 | 2,422 |
Lease liabilities [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 342 | 360 |
Term debt, in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 2,552 | 2,652 |
Term debt, previously in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 233 | 245 |
Within 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 2,060 | 1,392 |
Within 1 year [member] | Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 779 | 686 |
Within 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 716 | 614 |
Within 1 year [member] | Lease liabilities [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 93 | 92 |
Within 1 year [member] | Term debt, in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 472 | |
More than 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 4,354 | 4,973 |
More than 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 1,792 | 1,808 |
More than 1 year [member] | Lease liabilities [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 249 | 268 |
More than 1 year [member] | Term debt, in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 2,080 | 2,652 |
More than 1 year [member] | Term debt, previously in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | £ 233 | £ 245 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) € in Millions, £ in Millions, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019GBP (£) | Dec. 31, 2018GBP (£) | Dec. 31, 2019USD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | |
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) | £ | £ 3,491 | £ 3,254 | |||
Proportion of ownership interest in subsidiary | 100.00% | ||||
Committed bank facility | £ 2,262 | $ 3,000 | |||
Term debt | 525 | 544 | € 600 | € 600 | |
Fair value of derivative financial instruments | £ | 21 | 19 | |||
Term debt, in fair value hedging relationships [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total fair value of term debt | £ | 2,629 | 2,742 | |||
Term debt, previously in fair value hedging relationships [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Total fair value of term debt | £ | £ 276 | £ 283 | |||
Tranche One [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Committed bank facility | $ | 31 | ||||
Committed bank facility maturity year | 2021 | ||||
Tranche Two [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Committed bank facility | $ | 1,219 | ||||
Committed bank facility maturity year | 2022 | ||||
Tranche Three [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Committed bank facility | $ | 44 | ||||
Committed bank facility maturity year | 2023 | ||||
Tranche Four [member] | |||||
Disclosure Of Detailed Information About Borrowings [Line Items] | |||||
Committed bank facility | $ | $ 1,706 | ||||
Committed bank facility maturity year | 2024 |
Borrowings - Summary of Repayme
Borrowings - Summary of Repayment Years for Borrowings (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 779 | £ 686 |
Term debt | 5,293 | 5,319 |
Lease liabilities | 342 | 360 |
Total | 6,414 | 6,365 |
Within 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 779 | 686 |
Term debt | 1,188 | 614 |
Lease liabilities | 93 | 92 |
Total | 2,060 | 1,392 |
1-2 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | 0 |
Term debt | 425 | 508 |
Lease liabilities | 87 | 87 |
Total | 512 | 595 |
2-3 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | 0 |
Term debt | 33 | 451 |
Lease liabilities | 57 | 70 |
Total | 90 | 521 |
3-4 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | 0 |
Term debt | 658 | 688 |
Lease liabilities | 47 | 42 |
Total | 705 | 730 |
4-5 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | 0 |
Term debt | 433 | 669 |
Lease liabilities | 29 | 27 |
Total | 462 | 696 |
More than 5 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | 0 |
Term debt | 2,556 | 2,389 |
Lease liabilities | 29 | 42 |
Total | 2,585 | 2,431 |
More than 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | 0 |
Term debt | 4,105 | 4,705 |
Lease liabilities | 249 | 268 |
Total | £ 4,354 | £ 4,973 |
Borrowings - Analysis of Borrow
Borrowings - Analysis of Borrowings by Currency (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 779 | £ 686 |
Term debt | 5,293 | 5,319 |
Lease liabilities | 342 | 360 |
Total | 6,414 | 6,365 |
US dollars [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 309 | 19 |
Term debt | 2,915 | 2,493 |
Lease liabilities | 168 | 177 |
Total | 3,392 | 2,689 |
Pounds Sterling [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 317 | |
Term debt | 300 | |
Lease liabilities | 71 | 66 |
Total | 71 | 683 |
Euro [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 423 | 318 |
Term debt | 2,378 | 2,526 |
Lease liabilities | 70 | 85 |
Total | 2,871 | 2,929 |
Other Currencies [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 47 | 32 |
Lease liabilities | 33 | 32 |
Total | £ 80 | £ 64 |
Lease Arrangements - Summary of
Lease Arrangements - Summary of Right of Use Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | |||
At start of year | £ 263 | £ 287 | |
Additions | 62 | 31 | |
Acquisitions | 4 | 12 | |
Remeasurement | 29 | 13 | |
Disposals | (3) | (10) | |
Depreciation | (82) | (77) | £ (75) |
Exchange translation differences | (9) | 7 | |
At end of year | 264 | 263 | 287 |
Property [member] | |||
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | |||
At start of year | 246 | 264 | |
Additions | 57 | 26 | |
Acquisitions | 4 | 7 | |
Remeasurement | 29 | 13 | |
Disposals | (2) | (2) | |
Depreciation | (74) | (68) | |
Exchange translation differences | (9) | 6 | |
At end of year | 251 | 246 | 264 |
Non-property [member] | |||
Disclosure Of Quantitative Information About Rightofuse Assets [Line Items] | |||
At start of year | 17 | 23 | |
Additions | 5 | 5 | |
Acquisitions | 5 | ||
Disposals | (1) | (8) | |
Depreciation | (8) | (9) | |
Exchange translation differences | 1 | ||
At end of year | £ 13 | £ 17 | £ 23 |
Lease Arrangements - Summary _2
Lease Arrangements - Summary of Lease Liability (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Lease Liabilities [Line Items] | ||
Total lease liabilities | £ (342) | £ (360) |
Property [member] | ||
Disclosure Of Lease Liabilities [Line Items] | ||
Current lease liabilities | (87) | (83) |
Non-current lease liabilities | (242) | (260) |
Non-property [member] | ||
Disclosure Of Lease Liabilities [Line Items] | ||
Current lease liabilities | (6) | (9) |
Non-current lease liabilities | £ (7) | £ (8) |
Lease Arrangements - Additional
Lease Arrangements - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Presentation Of Leases For Lessee [Abstract] | |||
Interest expense on lease liabilities | £ 15 | £ 14 | £ 17 |
Leases with future cash outflows | £ 9 | £ 40 |
Lease Arrangements - Summary _3
Lease Arrangements - Summary of Finance Lease Receivable (Detail) - GBP (£) £ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Presentation Of Leases For Lessee [Abstract] | ||
Net finance lease receivable | £ 33 | £ 49 |
Share Capital, Share Premium _3
Share Capital, Share Premium and Shares Held in Treasury - Summary of Called up Share Capital Issued and Fully Paid (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of classes of share capital [line items] | ||
At start of year | £ 290 | |
At end of year | £ 286 | £ 290 |
RELX PLC [member] | ||
Disclosure of classes of share capital [line items] | ||
At start of year | 2,011,043,101 | 1,123,682,106 |
Issue of ordinary shares | 3,059,558 | 1,580,885 |
Issue of bonus share | 1 | |
Issue of ordinary shares in exchange for RELX NV shares | 0 | 930,780,110 |
Cancellation of shares | (33,300,001) | (45,000,000) |
At end of year | 1,980,802,659 | 2,011,043,101 |
At start of year | £ 290 | £ 162 |
Issue of ordinary shares | 1 | |
Issue of ordinary shares in exchange for RELX NV shares | 134 | |
Cancellation of shares | (5) | (6) |
At end of year | £ 286 | £ 290 |
Share Capital, Share Premium _4
Share Capital, Share Premium and Shares Held in Treasury - Additional Information (Detail) - GBP (£) | Dec. 06, 2019 | Feb. 28, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of classes of share capital [line items] | |||||
Consideration amount for employee benefit trust shares purchased | £ 37,000,000 | £ 43,000,000 | £ 39,000,000 | ||
Employee benefit trust shares purchase amount | 94,000,000 | £ 90,000,000 | £ 82,000,000 | ||
Authorised amount for Share repurchase | £ 100,000,000 | ||||
RELX NV [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Nominal value of bonus share issued | 4,000,000,000 | ||||
Shares cancelled through capital reduction to create distributable reserves | £ 4,000,000,000 | ||||
Cancellation of ordinary shares | 930,780,110 | ||||
RELX NV [member] | Shares held in treasury [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Number of shares purchased | 17,500,000 | ||||
RELX PLC [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Repurchase of ordinary shares | 5,000,000 | ||||
Employee benefit trust shares purchased | 2,200,000 | ||||
Shares held by the employee benefit trust | 6,753,010 | 7,130,366 | 3,493,817 | ||
Shares held in treasury | 42,267,027 | 42,023,020 | 60,077,786 | ||
Cancellation of treasury shares | 33,300,000 | 45,000,000 | |||
Non-discretionary share repurchase commitment | £ 100,000,000 | ||||
RELX PLC [member] | Shares held in treasury [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Repurchase of ordinary shares | 33,500,000 | 26,900,000 | 23,100,000 | ||
Average price paid per share repurchased | £ 17.89 | ||||
Aggregate consideration for repurchase of shares | £ 600,000,000 | £ 700,000,000 | |||
Cancellation of treasury shares | 33,300,000 |
Share Capital, Share Premium _5
Share Capital, Share Premium and Shares Held in Treasury - Summary of Number of Ordinary Shares (Detail) - RELX PLC [member] - shares | 2 Months Ended | 12 Months Ended | ||
Feb. 28, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of classes of share capital [line items] | ||||
At start of year | 2,011,000,000 | 2,011,000,000 | ||
Issue of ordinary shares | 3,059,558 | 1,580,885 | ||
Issue of ordinary shares in exchange for RELX NV shares | 0 | 930,780,110 | ||
Repurchase of ordinary shares | 0 | |||
Net release/(purchase) of shares by the Employee Benefit Trust | 0 | |||
Cancellation of shares | (33,300,001) | (45,000,000) | ||
At end of year | 1,980,800,000 | 2,011,000,000 | ||
Net (purchase)/release of shares by the Employee Benefit Trust | 0 | |||
Repurchase of ordinary shares | (5,000,000) | |||
Cancellation of treasury shares | 33,300,000 | 45,000,000 | ||
Shares held in treasury [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At start of period, treasury shares | (49,100,000) | (49,100,000) | ||
Net release/(purchase) of shares by the Employee Benefit Trust | 400,000 | |||
Net (purchase)/release of shares by the Employee Benefit Trust | (400,000) | |||
Issue of treasury shares | 0 | |||
Issue of ordinary shares in exchange for RELX NV shares | 0 | |||
Repurchase of ordinary shares | (33,500,000) | (26,900,000) | (23,100,000) | |
Cancellation of treasury shares | 33,300,000 | |||
At end of year, treasury shares | (48,900,000) | (49,100,000) | ||
Share capital [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At start of year | 1,961,900,000 | 1,961,900,000 | 1,060,100,000 | |
Issue of ordinary shares | 3,100,000 | 1,600,000 | ||
Net release/(purchase) of shares by the Employee Benefit Trust | 400,000 | (200,000) | ||
Cancellation of shares | 0 | |||
Net (purchase)/release of shares by the Employee Benefit Trust | (400,000) | 200,000 | ||
Repurchase of ordinary shares | (33,500,000) | (26,900,000) | ||
Cancellation of treasury shares | 0 | |||
Issue of ordinary shares in exchange for RELX NV shares | 0 | 927,300,000 | ||
At end of year | 1,931,900,000 | 1,961,900,000 | 1,060,100,000 |
Other Reserves - Summary of Oth
Other Reserves - Summary of Other Reserves (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of other reserves [line items] | |||
RELX PLC shareholders | £ 1,505 | £ 1,422 | £ 1,648 |
Dividends paid | (851) | (804) | (772) |
Actuarial (losses)/gains on defined benefit pension schemes | (137) | (91) | 233 |
Fair value movements on cash flow hedges | 16 | (59) | 137 |
Transfer to net profit from cash flow hedge reserve | 35 | 17 | 25 |
Tax recognised in other comprehensive income | 15 | 24 | (89) |
Increase in share based remuneration reserve (net of tax) | 33 | 35 | 42 |
Bonus issue of ordinary shares | 0 | ||
Cancellation of bonus shares | 0 | ||
Issue of ordinary shares, net of expenses | (29) | (21) | (32) |
Cancellation of shares | 0 | 0 | 0 |
Settlement of share awards | 0 | 0 | 0 |
Put option | (103) | ||
Hedge reserve [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | (36) | ||
Fair value movements on cash flow hedges | 16 | ||
Transfer to net profit from cash flow hedge reserve | 35 | ||
Tax recognised in other comprehensive income | (8) | ||
Other reserves, at end of year | 7 | (36) | |
Other Reserves [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 1,020 | ||
RELX PLC shareholders | 1,505 | ||
Dividends paid | (842) | ||
Actuarial (losses)/gains on defined benefit pension schemes | (137) | ||
Tax recognised in other comprehensive income | 22 | ||
Increase in share based remuneration reserve (net of tax) | 33 | ||
Bonus issue of ordinary shares | (4,000) | ||
Cancellation of bonus shares | 4,000 | ||
Cancellation of shares | (499) | ||
Settlement of share awards | (33) | ||
Put option | (103) | ||
Disposal of non-controlling interests | 5 | ||
Other reserves, at end of year | 972 | 1,020 | |
Other reserves [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 984 | 425 | |
RELX PLC shareholders | 1,505 | 1,422 | |
Dividends paid | (842) | (796) | |
Actuarial (losses)/gains on defined benefit pension schemes | (137) | (91) | |
Fair value movements on cash flow hedges | 16 | (59) | |
Transfer to net profit from cash flow hedge reserve | 35 | 17 | |
Tax recognised in other comprehensive income | 15 | 24 | |
Increase in share based remuneration reserve (net of tax) | 33 | 35 | |
Bonus issue of ordinary shares | (4,000) | ||
Cancellation of bonus shares | 4,000 | ||
Issue of ordinary shares, net of expenses | (227) | ||
Cancellation of shares | (499) | 262 | |
Settlement of share awards | (33) | (35) | |
Put option | (103) | ||
Disposal of non-controlling interests | 5 | ||
Exchange translation differences | 7 | ||
Other reserves, at end of year | £ 979 | £ 984 | £ 425 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of transactions between related parties [line items] | |||
Deemed benefits provided to Non-executive directors | £ 0 | £ 0 | £ 2,460 |
Loans, advances or guarantees on behalf of directors | 0 | ||
Aggregate gains made by executive directors | 0 | 2,804,358 | |
Joint ventures where entity is venturer [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from sale of goods and services, related party transactions | 4,000,000 | 3,000,000 | 16,000,000 |
Revenue from rendering of goods and services, related party transactions | 100,000 | 100,000 | 100,000 |
Amounts receivable, related party transactions | 5,000,000 | 2,000,000 | 2,000,000 |
Amounts payable, related party transactions | £ 500,000 | £ 900,000 | £ 1,000,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Key Management Personnel Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Salaries, other short-term employee benefits and non-executive fees | £ 7 | £ 7 | £ 5 |
Post-employment benefits | 1 | 1 | 1 |
Share based remuneration | 7 | 7 | 8 |
Total | £ 15 | £ 15 | £ 14 |
Related Party Transactions - _2
Related Party Transactions - Summary of Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Executive directors salary | £ 1,984 | £ 1,935 | £ 1,889 |
Executive directors benefits | 101 | 99 | 101 |
Executive directors annual incentive | 3,038 | 3,033 | 1,964 |
Executive directors cost of share based remuneration | 7,343 | 7,003 | 8,205 |
Executive directors cost of pension provision | 725 | 741 | 983 |
Total executive directors | £ 13,191 | £ 12,811 | £ 13,142 |
Related Party Transactions - _3
Related Party Transactions - Summary of Non-Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Fees and benefits | £ 1,569 | £ 1,634 | £ 1,396 |
Related undertakings - Summary
Related undertakings - Summary of Full list of Related Parties - Australia to Italy (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
Australia [member] | Elsevier (Australia) Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier (Australia) Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Fair Events Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fair Events Pty Ltd |
Percentage of undertaking | 49.00% |
Reg office | 383 Kent Street, Sydney NSW 2000, Australia |
Australia [member] | Fitness Show Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fitness Show Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 |
Australia [member] | Reed Business Information (Australia) Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (Australia) Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills NSW 2153,Australia |
Australia [member] | Reed Exhibitions Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Reed International Books Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed International Books Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Reed Oz Comic-Con Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Oz Comic-Con Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | RELX Australia Pty Limited [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Symbiotic Technologies Operation Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Symbiotic Technologies Operation Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1303, 799 Pacific Highway, Chatswood, NSW 2067 |
Australia [member] | ThreatMetrix Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1303, 799 Pacific Highway, Chatswood, NSW 2067 |
Austria [member] | Expoxx Messebau GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Expoxx Messebau GmbH |
Percentage of undertaking | 100.00% |
Reg office | Messeplatz 1, 1020, Wien, Austria |
Austria [member] | LexisNexis Verlag ARD ORAC GmbH & Co KG [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Verlag ARD ORAC GmbH & Co KG |
Percentage of undertaking | 100.00% |
Reg office | Marxergasse 25, 1030, Wien, Austria |
Austria [member] | ORAC Gesellschaft m.b.H. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ORAC Gesellschaft m.b.H. |
Percentage of undertaking | 100.00% |
Reg office | Marxergasse 25, 1030, Wien, Austria |
Austria [member] | Reed CEE GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed CEE GmbH |
Percentage of undertaking | 100.00% |
Reg office | Messeplatz 1, 1020, Wien, Austria |
Austria [member] | Reed Messe Salzburg GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Messe Salzburg GmbH |
Percentage of undertaking | 100.00% |
Reg office | Am Messezentrum 6, 5020, Salzburg, Austria |
Austria [member] | Reed Messe Wien GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Messe Wien GmbH |
Percentage of undertaking | 100.00% |
Reg office | Messeplatz 1, 1020, Wien, Austria |
Austria [member] | RELX Austria GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Austria GmbH |
Percentage of undertaking | 100.00% |
Reg office | Am Messezentrum 6, 5020, Salzburg, Austria |
Austria [member] | System StandBau GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | System StandBau GmbH |
Percentage of undertaking | 100.00% |
Reg office | Am Messezentrum 6, 5020, Salzburg, Austria |
Belgium [member] | LexisNexis BVBA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis BVBA |
Percentage of undertaking | 100.00% |
Reg office | Oudenaardseheerweg 129, 9810 Nazareth, Belgium |
Belgium [member] | First 4 Farming Europe NV [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | First 4 Farming Europe NV |
Percentage of undertaking | 100.00% |
Reg office | Guldensporenpark 36D, 9820 Merelbeke, Belgium |
BRAZIL [member] | Elsevier Editora Ltda [member] | Quotas | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Editora Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Sete de Setembro, n0 111, salas 601,1501/1502, 1601/1602, 1701/1702 e 802 – 80 Andar, Centro, cidade do Rio de Janeiro, estado do Rio de Janeiro, CEP 20.050-006 |
BRAZIL [member] | Fircosoft Brazil Consultoria e Servicos de Informatica Ltda [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft Brazil Consultoria e Servicos de Informatica Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra 2305, São Paulo, 01415-009,Brazil |
BRAZIL [member] | LexisNexis Informacoes e Sistemas Empresariais Ltda [member] | Quotas Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Informações e Sistemas Empresariais Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra no. 1200, 5th floor, Sâo Paulo, 01415-002, Brazil |
BRAZIL [member] | LexisNexis Serviços de Análise de Risco Ltda [member] | Quotas Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Serviços de Análise de Risco Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
BRAZIL [member] | MLex Brasil Midia Mercadoligica Ltda [member] | Quotas | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Brasil Midia Mercadologica Ltda (91%) |
Percentage of undertaking | 91.00% |
Reg office | Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 |
BRAZIL [member] | Reed Exhibitions Alcantara Machado Ltda [member] | Quotas Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Alcântara Machado Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
BRAZIL [member] | SST Software do Brasil Ltda [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SST Software do Brasil Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200 |
Canada [member] | LexisNexis Canada Inc. [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Canada Inc |
Percentage of undertaking | 100.00% |
Reg office | 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada |
Canada [member] | RELX Canada Ltd. [member] | Common shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
Canada [member] | Science-Metrix lnc [member] | Common shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix Inc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A 3N9, Canada |
Canada [member] | Threat Metrix Canada Inc | Common shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix (Canada) Inc |
Percentage of undertaking | 100.00% |
Reg office | 177 King Street West, Suite 400, Toronto-Dominion Centre Toronto, Ontario, M5K0A1, Canada |
CHINA | Reed Exhibitions Henjin Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Hengjin Co., Ltd |
Percentage of undertaking | 51.00% |
Reg office | Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New Area, Shanghai |
CHINA | Beijing Bakery China Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Beijing Bakery China Exhibitions Co., Ltd |
Percentage of undertaking | 25.00% |
Reg office | Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044, China |
CHINA | Beijing Medtime Elsevier Education Technology Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Beijing Medtime Elsevier Education Technology Co., Ltd (49%) |
Percentage of undertaking | 49.00% |
Reg office | West Building of Administration Building, Xueyuan Road No. 38 Peking University Health Science Center, Haidan District, Beijing, 100191, China |
CHINA | C-One Energy Co Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | C-One Energy Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Unit 2480, Building 2, No. 7, Chuangxin Road, Science Park of Changping District,Beijing, China |
CHINA | Genilex Information Technology Co. Ltd. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Genilex Information Technology Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Unit B1303-1 & 1305, 13F Center Plaza, 161 Linhe Road West, Tianhe DistrictGuangzhou, China |
CHINA | ICIS Consulting (Beijing) Co Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ICIS Consulting (Beijing) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 404 F4, No.9 Shangdi 9th Street, Haidian District, Beijing, 100085, China |
CHINA | KeAi Communications Co Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | KeAi Communications Co., Ltd |
Percentage of undertaking | 49.00% |
Reg office | Room 5106, Raffle City, 268 Middle Xizang Road, Huangpu District, Shanghai,200001, China |
CHINA | LexisNexis Risk Solutions (Shanghai) Information Technologies Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions (Shanghai) Information Technologies Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road,Chaoyang District, Beijing |
CHINA | Mack Brooks (Shanghai) Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brooks (Shanghai) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room Jia301-22, No15, Lane152, Yanchang Road, Shanghai, China |
CHINA | Reed Business Information Shanghai Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (Shanghai) Co Ltd |
Percentage of undertaking | 100.00% |
Reg office | 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China |
CHINA | Reed Elsevier Information Technology Beijing Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Information Technology (Beijing) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China |
CHINA | Reed Exhibitions China Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (China) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
CHINA | Reed Exhibitions Shanghai Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (Shanghai) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room 304, Sanlian Building, No.8, Huajing Road, Pudong District, Shanghai,200070, China |
CHINA | Reed Hongda Exhibitions Henan Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Hongda Exhibitions (Henan) Co., Ltd |
Percentage of undertaking | 51.00% |
Reg office | Shenzhen International Chamber of Commerce Tower, Room 1801-1802, 1805,Fuhua 3rd Road, Futian District, Shenzhen, 518048, China |
CHINA | Reed Huabai Exhibitions Beijing Co Ltd | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Huabai Exhibitions (Beijing) Co., Ltd |
Percentage of undertaking | 51.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
CHINA | Reed Huabo Exhibitions (Shenzhen) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Huabo Exhibitions (Shenzhen) Co., Ltd |
Percentage of undertaking | 65.00% |
Reg office | Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China |
CHINA | Reed Huaqun Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Huaqun Exhibitions Co., Ltd |
Percentage of undertaking | 52.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
CHINA | Reed Kuozhan Exhibitions (Shanghai) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Kuozhan Exhibitions (Shanghai) Co., Ltd |
Percentage of undertaking | 60.00% |
Reg office | Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China |
CHINA | Reed Sinopharm Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Sinopharm Exhibitions Co., Ltd |
Percentage of undertaking | 50.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
CHINA | RELX (China) Investment Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (China) Investment Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China |
CHINA | Shanghai Datong Medical Information Technology Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Shanghai Datong Medical Information Technology Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm,Chongming County, Shanghai Municipality |
CHINA | Shanghai SinoReal Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Shanghai SinoReal Exhibitions Co., Ltd |
Percentage of undertaking | 27.50% |
Reg office | FL2, No.979, Yunhan Road, Nicheng Town, Pudong New Area |
Colombia [member] | LexisNexis Risk Solutions S.A.S. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions S.A.S. |
Percentage of undertaking | 100.00% |
Reg office | Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá,d.c., 76600, Colombia |
Denmark [member] | Elsevier A/S [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier A/S |
Percentage of undertaking | 100.00% |
Reg office | Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark |
Dubai, UAE [member] | Reed Exhibitions Free Zone-LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Free Zone-LLC |
Percentage of undertaking | 100.00% |
Reg office | Office No. 328, Building 02, third floor, P.O. Box 502425, Dubai, United Arab Emirates |
Dubai, UAE [member] | RELX Middle East FZ-LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Middle East FZ-LLC |
Percentage of undertaking | 100.00% |
Reg office | Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates |
Egypt [member] | Elsevier Egypt LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Egypt LLC |
Percentage of undertaking | 100.00% |
Reg office | Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement,New Cairo, Cairo, Egypt |
France [member] | Elsevier Holding France SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Holding France SAS |
Percentage of undertaking | 100.00% |
Reg office | 65, rue Camille Desmoulins, 92130, Issy les Moulineaux, France |
France [member] | Elsevier Masson SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Masson SAS |
Percentage of undertaking | 100.00% |
Reg office | 65, rue Camille Desmoulins, 92130, Issy les Moulineaux, France |
France [member] | Evoluprint SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Evoluprint SAS |
Percentage of undertaking | 100.00% |
Reg office | Parc Euronord – 10, rue du Parc – 31150 Bruguieres |
France [member] | Fircosoft SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft SAS |
Percentage of undertaking | 100.00% |
Reg office | 151-155 Rue de Bercy, 75012 Paris, France |
France [member] | Gie Edi-Data [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gie Edi-Data |
Percentage of undertaking | 83.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | Gie Juris-Data [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gie Juris-Data |
Percentage of undertaking | 100.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | GIE PRK – Publicite Robert Krier [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | GIE PRK – Publicite Robert Krier |
Percentage of undertaking | 100.00% |
Reg office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | LexisNexis Business Information Solutions S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions S.A. |
Percentage of undertaking | 100.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | LexisNexis Business Information Solutions Holding S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions Holding S.A. |
Percentage of undertaking | 100.00% |
Reg office | Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) |
France [member] | LexisNexis International Development Services S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis International Development Services S.A. |
Percentage of undertaking | 100.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | LexisNexis SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis SA |
Percentage of undertaking | 100.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | Reed Exhibitions ISG SARL [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions ISG SARL |
Percentage of undertaking | 100.00% |
Reg office | 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | Reed Expositions France SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Expositions France SAS |
Percentage of undertaking | 100.00% |
Reg office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | Reed Midem SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Midem SAS |
Percentage of undertaking | 100.00% |
Reg office | 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | Reed Organisation SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Organisation SAS |
Percentage of undertaking | 100.00% |
Reg office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | RELX France S.A. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX France S.A. |
Percentage of undertaking | 100.00% |
Reg office | 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | RELX France Services SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX France Services SAS |
Percentage of undertaking | 100.00% |
Reg office | 151-155 Rue de Bercy, 75012 Paris, France |
France [member] | SAFI SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SAFI SA |
Percentage of undertaking | 50.00% |
Reg office | 6-8 Rue Chaptal, 75009 Paris |
Germany [member] | Aries GmbH & Co KG [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Aries GmbH & Co KG |
Percentage of undertaking | 100.00% |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | Aries Medical Knowledge Verwaltungsgesellschaft GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Aries Medical Knowledge Verwaltungsgesellschaft GmbH |
Percentage of undertaking | 100.00% |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | Elsevier GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier GmbH |
Percentage of undertaking | 100.00% |
Reg office | Hackerbrücke 6, 80335, Munich, Germany |
Germany [member] | Elsevier Information Systems GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Information Systems GmbH |
Percentage of undertaking | 100.00% |
Reg office | Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany |
Germany [member] | LexisNexis GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis GmbH |
Percentage of undertaking | 100.00% |
Reg office | Heerdter Sandberg 30, 40549, Düsseldorf, Germany |
Germany [member] | PatentSight GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PatentSight GmbH |
Percentage of undertaking | 100.00% |
Reg office | Joseph-Schumpeter-Allee 33, 53227, Bonn |
Germany [member] | Reed Exhibitions (Germany) GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (Germany) GmbH |
Percentage of undertaking | 100.00% |
Reg office | Heerdter Sandberg 30, 40549, Düsseldorf, Germany |
Germany [member] | Reed Exhibitions Deutschland GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Deutschland GmbH |
Percentage of undertaking | 100.00% |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | RELX Deutschland GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Deutschland GmbH |
Percentage of undertaking | 100.00% |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | Tschach Solutions GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Tschach Solutions GmbH |
Percentage of undertaking | 100.00% |
Reg office | Steinhäuserstrasse 9, 76135, Karlsruhe, Germany |
Greece [member] | Mack Brooks Hellas SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brooks Hellas SA |
Percentage of undertaking | 100.00% |
Reg office | 188A, Filolaou Str.,Athens, 11632, Greece |
Hong Kong [member] | Ascend China Holding Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Ascend China Holding Ltd |
Percentage of undertaking | 100.00% |
Reg office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Hong Kong [member] | Reed Business Information (China) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (China) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Level 54 Hopewell Center, 183 Queens Road East (Tricor Office), Hong Kong |
Hong Kong [member] | JC Exhibition and Promotion Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | JC Exhibition and Promotion Ltd |
Percentage of undertaking | 65.00% |
Reg office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Hong Kong [member] | JYLN Sager Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | JYLN Sager Ltd |
Percentage of undertaking | 100.00% |
Reg office | Flat 1506, 15/F, Lucky Center, No. 165-171 Wan Chai Road, Wan Chai, Hong Kong |
Hong Kong [member] | MLex Asia Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Asia Ltd |
Percentage of undertaking | 91.00% |
Reg office | 3901, 39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong |
Hong Kong [member] | Reed Exhibitions Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Hong Kong [member] | RELX (Greater China) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Greater China) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 11/F Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong |
India [member] | Chemprotech India Expo Pvt Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Chemprotech India Expo Pvt Ltd |
Percentage of undertaking | 25.00% |
Reg office | B-602, Godrej coliseum, K. J. Hospital Road, Sion (E), Mumbai, 400 022, India |
India [member] | Chemspec India Expo Pvt Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Chemspec India Expo Pvt Ltd |
Percentage of undertaking | 50.00% |
Reg office | B-602, Godrej coliseum, K. J. Hospital Road, Sion (E), Mumbai, 400 022, India |
India [member] | FircoSoft India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | FircoSoft India Private Ltd |
Percentage of undertaking | 100.00% |
Reg office | S21 Vatika Centre, No 471 Anna Salai, Taynampet, Chennai, 600035, India |
India [member] | Next Events Pvt Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Next Events Pvt Ltd |
Percentage of undertaking | 100.00% |
Reg office | Unit no 03,04,05 first floor, Southern Park D2 Saket, New Delhi, South Delhi ,110017,India |
India [member] | Parity Computing India Pvt Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Parity Computing India Pvt Ltd |
Percentage of undertaking | 100.00% |
Reg office | 99/100, Prestige Towers Unit No. 505, Fifth Floor, Residency Road, Bangalore, |
India [member] | Reed Elsevier Publishing (India) Pvt Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Publishing (India) Pvt Ltd |
Percentage of undertaking | 100.00% |
Reg office | 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India |
India [member] | Reed Manch Exhibitions Private Ltd (70%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Manch Exhibitions Private Ltd |
Percentage of undertaking | 70.00% |
Reg office | Unit no 03,04,05 first floor, Southern Park D2 Saket, New Delhi, South Delhi ,110017,India |
India [member] | Reed Triune Exhibitions Private Ltd (72%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Triune Exhibitions Private Ltd |
Percentage of undertaking | 72.00% |
Reg office | #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India |
India [member] | RELX India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX India Private Ltd |
Percentage of undertaking | 100.00% |
Reg office | 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India |
Indonesia [member] | PT Reed Exhibitions Indonesia [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT Reed Exhibitions Indonesia |
Percentage of undertaking | 70.00% |
Reg office | Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia |
Indonesia [member] | PT Reed Exhibitions Indonesia [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT Reed Exhibitions Indonesia |
Percentage of undertaking | 70.00% |
Reg office | Menara Citicon Level 8. Unit 8011 & 8012 Jl. Letjen S. Parman No. 8 Kav 72 SlipiPalmerah Jakarta Barat 11410 Indonesia |
Indonesia [member] | PT Reed Panorama Exhibitions Ireland [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT Reed Panorama Exhibitions Ireland |
Percentage of undertaking | 50.00% |
Reg office | Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia |
Ireland [member] | Elsevier Services Ireland Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Services Ireland Ltd |
Percentage of undertaking | 100.00% |
Reg office | Suite 4320, Atlantic Avenue, Westpark Business Campus, Shannon, Clare, Ireland |
Ireland [member] | LexisNexis Risk Solutions (Ireland) Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions (Ireland) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 80 Harcourt Street, Dublin 2, Ireland |
Ireland [member] | LexisNexis Risk Solutions (Europe) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions (Europe) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 80 Harcourt Street, Dublin 2, Ireland |
Ireland [member] | 3D4Medical Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | 3D4Medical Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1st Floor The Grange Stillorgan Road, Blackrock, Co Dublin, Ireland |
Ireland [member] | 3D4Medical Support Services Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | 3D4Medical Support Services Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1st Floor The Grange Stillorgan Road, Blackrock, Co Dublin, Ireland |
Israel [member] | LexisNexis Israel Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Israel Ltd |
Percentage of undertaking | 100.00% |
Reg office | Meitar, attorneys at Law, 16 Abba Hillel Road, Ramat Gan, 5250608, Israel |
Italy [member] | Elsevier SRL [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier SRL |
Percentage of undertaking | 100.00% |
Reg office | Via Marostica 1, 20146, Milan, Italy |
Italy [member] | ICIS Italia SRL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ICIS Italia SRL |
Percentage of undertaking | 100.00% |
Reg office | Studio Colombo e Associati, Via Cino del Duca 5, 20122, Milano, Italy |
Italy [member] | Reed Exhibitions ISG Italy SRL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions ISG Italy SRL |
Percentage of undertaking | 100.00% |
Reg office | Via Marostica 1, 20146, Milan, Italy |
Italy [member] | Reed Exhibitions Italia SRL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Italia SRL |
Percentage of undertaking | 100.00% |
Reg office | Via Marostica 1, 20146, Milan, Italy |
Related undertakings - Summar_2
Related undertakings - Summary of Full list of Related Parties - Japan to United Kingdom (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
JAPAN | Ascend Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Ascend Japan KK |
Percentage of undertaking | 100.00% |
Reg office | Kyodo Tsushin Kaikam 2F, 2-2-5 Toronomon, Minato-ku, Tokyo, 105-0001 |
JAPAN | Elsevier Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Japan KK |
Percentage of undertaking | 100.00% |
Reg office | Ark Mori Building, 1-12-32 Akasaka, Minato-ku, Tokyo, 107-6029, Japan |
JAPAN | LexisNexis Japan KK [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Japan KK |
Percentage of undertaking | 100.00% |
Reg office | 1-9-15, Higashi Azabu, Minato-ku Tokyo Japan |
JAPAN | PatentSight Japan Inc [Member] | Common shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PatentSight Japan Inc |
Percentage of undertaking | 100.00% |
Reg office | 7F Cross Office Uchisaiwaicho, 1-18-6 Nishi-Shinbashi, Minato-ku, Tokyo |
JAPAN | Reed Exhibitions Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Japan KK |
Percentage of undertaking | 100.00% |
Reg office | Shinjuku-Nomura Bldg., 1-26-2 Nishi-shinjuku, Shinjuku-ku, Tokyo, Japan |
JAPAN | Reed ISG Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed ISG Japan KK |
Percentage of undertaking | 100.00% |
Reg office | 13-12 Rokubancho, Chiyoda-ku, Tokyo, Japan |
JAPAN | ThreatMetrix GK [Member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix GK |
Percentage of undertaking | 100.00% |
Reg office | 2-6, Kasumigaseki 3-chome, Chiyoda-ku, Tokyo |
Korea (South) [member] | Elsevier Korea LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Korea LLC |
Percentage of undertaking | 100.00% |
Reg office | Chunwoo Building, 4th floor, 534 Itaewon-dong, Yongsan-gu, Seoel, 140-861, |
Korea (South) [member] | Lexis Nexis Legal And Professional Service Korea Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Legal and Professional Service Korea Ltd |
Percentage of undertaking | 100.00% |
Reg office | 206 Noksapyeong-daero, Yongsan-gu, Seoel, Korea, Republic of |
Korea (South) [member] | Reed Exhibitions Korea Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Korea Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, |
Korea (South) [member] | Reed Exporum Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exporum Ltd |
Percentage of undertaking | 60.00% |
Reg office | 1324 Block A Tera Tower II, 201, Songpa-daero, Songpa-gu, Seoul, 05854 |
Korea (South) [member] | Reed K. Fairs Ltd seventy percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed K. Fairs Ltd |
Percentage of undertaking | 70.00% |
Reg office | Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, |
Malaysia [member] | LexisNexis Malaysia Sdn Bhd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Malaysia Sdn Bhd |
Percentage of undertaking | 100.00% |
Reg office | 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia |
Malaysia [member] | Reed Exhibitions Sdn Bhd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Sdn Bhd |
Percentage of undertaking | 100.00% |
Reg office | 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia |
Mexico. | Masson-Doyma Mexico, S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Masson-Doyma Mexico, S.A. |
Percentage of undertaking | 100.00% |
Reg office | Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad |
Mexico. | Reed Exhibitions Mexico S.A. de C.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Mexico S.A. de C.V. |
Percentage of undertaking | 100.00% |
Reg office | Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad |
Morocco [member] | Reed Exhibitions Morocco SARL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Morocco SARL |
Percentage of undertaking | 100.00% |
Reg office | Forum Bab Abdelaziz au 62, Angle Blvd. d’Anfa, 6ème étage, Apt 61, Casablanca,Morocco |
New Zealand [member] | LexisNexis NZ Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis NZ Ltd |
Percentage of undertaking | 100.00% |
Reg office | Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand |
Philippines. | Reed Elsevier Shared Services (Philippines) Inc. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Shared Services (Philippines) Inc. |
Percentage of undertaking | 100.00% |
Reg office | Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon |
Poland [member] | AI Digital Contracts Sp. z.o.o. (75%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | AI Digital Contracts Sp. z.o.o. |
Percentage of undertaking | 75.00% |
Reg office | św. Antoniego 2/4 50-073, Wrocław,Poland |
Poland [member] | Elsevier sp. z.o.o. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier sp. z.o.o. |
Percentage of undertaking | 100.00% |
Reg office | Natpoll Building, ul. Migdalowa 4/59, 02-796, Warsaw, Poland |
Russia [member] | Ecwatech Company ZAO [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Ecwatech Company ZAO |
Percentage of undertaking | 100.00% |
Reg office | 2nd Syromyatnicheskiy pereulok, house 1, space I, room 13, 105120, Moscow,Russian Federation |
Russia [member] | Elsevier OOO [member] | Participations shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier OOO |
Percentage of undertaking | 100.00% |
Reg office | 2nd Syromyatnicheskiy pereulok, house 1, space I, room 13, 105120, Moscow,Russian Federation |
Russia [member] | LexisNexis OOO [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis OOO |
Percentage of undertaking | 100.00% |
Reg office | 2nd Syromyatnicheskiy pereulok, house 1, space I, room 13, 105120, Moscow,Russian Federation |
Russia [member] | Real estate events direct [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Real Estate Events Direct OOO |
Percentage of undertaking | 80.00% |
Reg office | Petrozavodskaya street 28/4, Building VI, room 2, 125475, Moscow, RussianFederation |
Russia [member] | Relx ooo [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX OOO |
Percentage of undertaking | 100.00% |
Reg office | 24 Bolshaya Nikitskaya Str., bldg. 5, Moscow 125009, Russian Federation |
Russia [member] | 3D4Medical OOO [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | 3D4Medical OOO |
Percentage of undertaking | 100.00% |
Reg office | Krasnykh Partizan st. 152, Office 505, 350049, Krasnodar, Russian Federation |
Saudi Arabia [member] | Reed Sunaidi Exhibitions [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Sunaidi Exhibitions |
Percentage of undertaking | 50.00% |
Reg office | Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia |
SINGAPORE | Elsevier (Singapore) Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier (Singapore) Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore |
SINGAPORE | Lexis-Nexis Philippines Pte Ltd [member] | Ordinary B Preference [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Lexis-Nexis Philippines Pte Ltd |
Percentage of undertaking | 75.00% |
Reg office | 80 Robinson Road, #02-00, Singapore, 068898, Singapore |
SINGAPORE | Mack Brooks Asia Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brooks Asia Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 120 Lower Delta Road #12-02, Cendex Centre, Singapore, 169208 |
SINGAPORE | Reed Business Information Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1 Changi Business Park Crescent, #06-01 Plaza 8 & CBP, Singapore, 48602551, |
SINGAPORE | RE (HAPL) Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (HAPL) Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore |
SINGAPORE | RELX (Singapore) Pte. Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Singapore) Pte. Ltd |
Percentage of undertaking | 100.00% |
Reg office | 80 Robinson Road, #02-00, Singapore, 068898, Singapore |
SINGAPORE | ThreatMetrixPTE Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix PTE Ltd |
Percentage of undertaking | 100.00% |
Reg office | 8 Robinson Road #03-00 ASO Building Singapore 048544 |
South Africa [member] | F I R C O S O F T South Africa Proprietary Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft South Africa (Pty) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Regus Brooklyn Bridge, 3rd Floor Steven House, Brooklyn Bridge Office Park,Fehrsen Street, Brooklyn, Pretoria |
South Africa [member] | Globalrange SA Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Globalrange SA (Pty) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Fourways Gold Park, 1st Floor – Wentworth Building, 32 Roos Street, Fourways,2191, South Africa |
South Africa [member] | Korbitec (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Korbitec (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | LegalPerfectTSoftware Solutions (Pty) Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LegalPerfectTSoftware Solutions (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | LexisNexis (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Academic (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | LexisNexis (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | LexisNexis Risk Management (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Management (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Property Payment Exchange (SA) (Pty) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Property Payment Exchange (SA) (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | RELX (Pty) Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Pty) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Reed Exhibitions (Pty) Ltd ninety percentage [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Reed Events Management Pty Ltd [Member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Events Management (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Reed Exhibitions Group (Pty) Limited [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Group(Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Reed Venue Management (Pty) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Venue Management (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Winsearch Services (Pty) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Winsearch Services (Pty) Ltd |
Percentage of undertaking | 78.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
Spain [member] | Elsevier Espana, S.L. [member] | Participations shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Espana, S.L. |
Percentage of undertaking | 100.00% |
Reg office | C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona, Spain |
Switzerland [member] | Elsevier finance SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Finance SA |
Percentage of undertaking | 100.00% |
Reg office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Switzerland [member] | Fircosoft Schweiz GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft Schweiz GmbH |
Percentage of undertaking | 100.00% |
Reg office | Bahnhofstrasse 100 – 8001 Zurich |
Switzerland [member] | RELX risks SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Risks SA |
Percentage of undertaking | 100.00% |
Reg office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Switzerland [member] | RELX Swiss holdings SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Swiss Holdings SA |
Percentage of undertaking | 100.00% |
Reg office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Taiwan [member] | Elsevier Taiwan LLC [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Taiwan LLC |
Percentage of undertaking | 100.00% |
Reg office | Suite N-818, 8/F, Chia Hsin Cement Building, 96 Zhong Shan North Road, Section 2,Taipei, 10449, Taiwan |
Thailand [member] | MackBrooks Exhibitions Asia Ltd (49%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MackBrooks Exhibitions Asia Ltd |
Percentage of undertaking | 49.00% |
Reg office | 140/36, New ITF Tower, 17th Floor, Silom Road, Bangrak 10500, Bangkok, Thailand |
Thailand [member] | Reed Tradex Company Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Tradex Company Ltd |
Percentage of undertaking | 49.00% |
Reg office | Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom,Bangrak, Bangkok, 10500, Thailand |
Thailand [member] | Reed Tradex Company Ltd [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Tradex Company Ltd |
Percentage of undertaking | 49.00% |
Reg office | 2 Ploenchit Centre, Room 7, Floor G., Sukhumvit Road, Klongtoey, Bangkok, 10110,Thailand |
Thailand [member] | Reed Holding (Thailand) Co., Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Holding (Thailand) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 540 Mercury Tower, 22nd Floor, Ploenchit Road, Lumpini, Pathumwan, Bangkok10330 |
Netherlands [member] | AGRM Solutions C.V. [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | AGRM Solutions C.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | Elsevier B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | Elsevier Employment Services B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Employment Services B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | LexisNexis Business Information Solutions B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | LexisNexis Univentio B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Univentio B.V. |
Percentage of undertaking | 100.00% |
Reg office | Galileiweg 8, 2333 BD Leiden, Netherlands |
Netherlands [member] | Misset Uitgeverij B.V. [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Misset Uitgeverij B.V. |
Percentage of undertaking | 49.00% |
Reg office | Prins Hendrikstraat 17, 7001GK Doetinchem |
Netherlands [member] | One Business B.V. [Member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | One Business B.V. (33%) |
Percentage of undertaking | 33.00% |
Reg office | Spaklerweg 53, 1114 AE Amsterdam-Duivendrecht |
Netherlands [member] | Reed Business B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX finance B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Finance B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX holdings B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Holdings B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX Nederland B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Nederland B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX overseas B.V. [member] | RE Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Overseas B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | ThreatMetrix BV [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix BV |
Percentage of undertaking | 100.00% |
Reg office | Evert van de Beekstraat 1 The Base 3 / F, 1118CL Schiphol |
TURKEY | Elsevier STM Bilgi Hizmetleri Limited sirketi [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier STM Bilgi Hizmetleri Limited Şirketi |
Percentage of undertaking | 100.00% |
Reg office | Maslak Mah. Bilim Sokak Sun Plaza Kat:13 ẞiẟli-Maslak, Istanbul, Turkey |
TURKEY | Mack Brooks Fuarcilik A.S [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brooks Fuarcilik A.S |
Percentage of undertaking | 100.00% |
Reg office | Fulya Mah. Hakkı Yeten Cad. No:10/C, Selenium Plaza Kat:5,6 Fulya, Besiktasİstanbul, Turkey |
TURKEY | Reed Tuyap Fuarcilik A.S. [member] | Class A-Ordinary / Class B-Ordinary [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Tüyap Fuarcilik A.Ş. |
Percentage of undertaking | 50.00% |
Reg office | E - 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece ,Istanbul, 34500,Turkey |
United Kingdom [member] | Adaptris Group Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Adaptris Group Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Bradfield Brett Holdings Ltd [member] | Seven point five preferred income shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Bradfield Brett Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Butterworths Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworths Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Cordery Compliance Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Cordery Compliance Ltd |
Percentage of undertaking | 71.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Cordery Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Cordery Ltd |
Percentage of undertaking | 71.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Crediva Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Crediva Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Eye, 1 Procter Street, London, WC1V 6EU, United Kingdom |
United Kingdom [member] | Dew Events Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Dew Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Digital Foundry Network [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Digital Foundry Network |
Percentage of undertaking | 50.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Drayton Legal Recoveries Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Drayton Legal Recoveries Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
United Kingdom [member] | E & P Events LLP [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | E & P Events LLP |
Percentage of undertaking | 50.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Elsevier Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Ltd |
Percentage of undertaking | 100.00% |
Reg office | 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU |
United Kingdom [member] | Elsevier Life Sciences IP Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Life Sciences IP Ltd |
Percentage of undertaking | 100.00% |
Reg office | 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU |
United Kingdom [member] | Fastener Fairs Ltd [member] | Ordinary, Ordinary-A, Ordinary-B [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fastener Fairs Ltd |
Percentage of undertaking | 100.00% |
Reg office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | Formpart (EPS) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Formpart (EPS) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Formpart (HPL) Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Formpart (HPL) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Gamer Edition Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Edition Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Gamer Events Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Gamer Network Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Network Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Imbibe Media Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Imbibe Media Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Information Handling Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Information Handling Ltd |
Percentage of undertaking | 85.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Insurance Initiatives Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Insurance Initiatives Ltd |
Percentage of undertaking | 100.00% |
Reg office | 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU |
United Kingdom [member] | Knowable Holdings Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Knowable Holdings Ltd |
Percentage of undertaking | 75.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Knowable Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Knowable Ltd |
Percentage of undertaking | 75.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Legend Exhibitions Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Legend Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | 28 The Quadrant, Richmond, Surrey, England, TW9 1DN |
United Kingdom [member] | Lexis Nexis Risk Solutions U K Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions UK Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW |
United Kingdom [member] | Mack Brooks Events Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brooks Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brooks Exhibitions Ltd | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack-Brooks Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brooks Exhibitions Ltd | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack-Brooks Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brooks Exhibitions Ltd | Class D Ordinary Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack-Brooks Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brooks France Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack-Brooks (France) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brooks Publishing Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack-Brooks Publishing Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brooks Publishing Ltd | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack-Brooks Publishing Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mack Brook Speciality Publishing Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brook Speciality Publishing Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | M C M Central Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Central Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | M C M Expo Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Expo Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Mendeley Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mendeley Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
United Kingdom [member] | M Lex Ltd | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Ltd |
Percentage of undertaking | 100.00% |
Reg office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | Newsflo Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Newsflo Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RE (RCB) LTD [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (RCB) LTD |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | N Life Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | NLife Ltd |
Percentage of undertaking | 23.50% |
Reg office | 5 Oakwood Drive, Loughborough, England, LE11 3QF |
United Kingdom [member] | Offshore Europe Management Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Offshore Europe (Management) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Offshore Europe Partnership | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Offshore Europe Partnership |
Percentage of undertaking | 50.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Out There Gaming Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Out There Gaming Ltd |
Percentage of undertaking | 70.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Oxford Spires Management Co Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Oxford Spires Management Co; Ltd |
Percentage of undertaking | 55.00% |
Reg office | 40 Kimbolton Road, Bedford, England, MK40 2NR |
United Kingdom [member] | Prean Holdings Limited | Deferred Ordinary Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | Prean Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E Directors No One Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE Directors (No.1) Limited |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E Directors No Two Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE Directors (No.2) Limited |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E S O E Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (SOE) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | R E Secretaries Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE Secretaries Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Business Information Holdings Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (Holdings) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Reed Business Information Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Reed Elsevier U I G Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier (UIG) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Events Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Reed Exhibitions Ltd [member] | Deferred Ordinary Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Whitehall Debenture Company Limited [Member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Whitehall Debenture Company Limited |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Nominees Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Nominees Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Publishing Corporation Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Publishing Corporation Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Holdings Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Holdings) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Investments Plc | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Investments) plc |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X U K L I M I T E D | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (UK) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Finance Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Finance Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Group Plc | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Group plc |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Group Plc | Class R Ordinary Shares | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Group plc |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Overseas Holdings Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Overseas Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E V Venture Partners Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | REV Venture Partners Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Symbiotic Technologies Operations Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Symbiotic Technologies Operations Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW |
United Kingdom [member] | Tracesmart Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Tracesmart Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Wunelli Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Wunelli Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1000 Lakeside, Western Road, Portsmouth, PO6 3EN, United Kingdom |
Related undertakings - Summar_3
Related undertakings - Summary of Full list of Related Parties - Japan to United Kingdom (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2019£ / shares | |
United Kingdom [member] | Bradfield Brett Holdings Ltd [member] | Seven point five preferred income shares [member] | |
Disclosure of transactions between related parties [line items] | |
Dividend per share | £ 7.5 |
Related undertakings - Summar_4
Related undertakings - Summary of Full list of Related Parties - United States to Vietnam (Detail) | 12 Months Ended |
Dec. 31, 2019 | |
US [member] | Accuity Asset Verification Services Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Accuity Asset Verification Services Inc |
Percentage of undertaking | 100.00% |
Reg office | 1007 Church Street, Evanston IL 60201 |
US [member] | American Textile Machinery Exhibitions International Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | American Textile Machinery Exhibitions International Inc. |
Percentage of undertaking | 40.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Accuity Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Accuity Inc. |
Percentage of undertaking | 100.00% |
Reg office | 1007 Church Street, Evanston IL 60201 |
US [member] | Aries Systems Corporation [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Aries Systems Corporation |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Derman, Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Derman, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | Dunlap-Hanna Publishers [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Dunlap-Hanna Publishers |
Percentage of undertaking | 50.00% |
Reg office | 313 Washington Street, Suite 400, Newton, MA 02458 |
US [member] | Elsevier Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Elsevier Holdings Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Holdings Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Elsevier Medical Information LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Medical Information LLC |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Elsevier STM Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier STM Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Enclarity, Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Enclarity, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | ExitCare LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ExitCare LLC |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Gamer Network Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Network Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Gaming Business Asia LLC Fifty Percentage [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gaming Business Asia LLC |
Percentage of undertaking | 50.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Health Market Science Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Health Market Science, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | IDGRBI China Publishers LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | IDG-RBI China Publishers LLC |
Percentage of undertaking | 50.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Intelligize Inc [member | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Intelligize, Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Knovel Corporation [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Knovel Corporation |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Knowable Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Knowable Inc |
Percentage of undertaking | 75.00% |
Reg office | 1209 Orange Street, Wilmington, DE 19801 |
US [member] | LexisNexis Claims Solutions Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Claims Solutions Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Coplogic Solutions Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Coplogic Solutions Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Of Puerto Rico Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis of Puerto Rico Inc |
Percentage of undertaking | 100.00% |
Reg office | 9443 Springboro Pike, Miamisburg, OH 45342 |
US [member] | LexisNexis Risk Assets Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Assets Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Risk Data Management Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Data Management Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Risk Holdings Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Holdings Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Risk Solutions Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Lexisnexis Risk Solutions Fl Inc | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions FL Inc. |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Special Services Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Special Services Inc |
Percentage of undertaking | 100.00% |
Reg office | Puerta Del Condado #1095, Wilson Ave, Local #3, San Juan, PR 00907 |
US [member] | LexisNexis VitalChek Network Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis VitalChek Network Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Mack Brooks Exhibitions Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mack Brooks Exhibitions Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Matthew Bender And Company Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Matthew Bender & Company, Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | MLex US Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex US, Inc |
Percentage of undertaking | 91.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Parity Computing, Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Parity Computing, Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | PCLaw Time Matters LLC [member] | Non Stock Corporation | |
Disclosure of transactions between related parties [line items] | |
Company name | PCLaw Time Matters LLC |
Percentage of undertaking | 51.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | PoliceReports.US, LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PoliceReports.US, LLC |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Portfolio Media, Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Portfolio Media, Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Reed Business Information Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information Inc |
Percentage of undertaking | 100.00% |
Reg office | 3355 West Alabama Street, Houston, TX 77098 |
US [member] | Reed Technology and Information Services Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Technology and Information Services Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | RELX Capital Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Capital Inc |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | RELX Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | RELX Risks Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Risks Inc. |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | RELX US Holdings Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX US Holdings Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Reman, Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reman, Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | REV IV Partnership LP [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | REV IV Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | SAFI Americas LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SAFI Americas LLC |
Percentage of undertaking | 50.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | The Reed Elsevier Ventures 2005 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2005 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures 2006 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2006 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures 2008 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2009 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures 2009 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2010 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures 2010 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2011 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures 2011 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2012 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures 2012 Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2013 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Remick Publishers [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Remick Publishers |
Percentage of undertaking | 50.00% |
Reg office | 313 Washington Street, Suite 400, Newton, MA 02458 |
US [member] | ThreatMetrix, Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix, Inc. |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | 3D4Medical.com, LLC [Member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | 3D4Medical.com, LLC |
Percentage of undertaking | 100.00% |
Reg office | 15633 Rising River PL N, San Diego, CA 92127-5100 |
US [member] | World Compliance, Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | World Compliance, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | 3D4Medical Inc. [Member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | 3D4Medical Inc. |
Percentage of undertaking | 100.00% |
Reg office | 15633 Rising River PL N, San Diego, CA 92127-5100 |
VIETNAM | Reed Tradex Vietnam LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Tradex Vietnam LLC |
Percentage of undertaking | 49.00% |
Reg office | 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City, Vietnam |
Exchange Rates - Summary of Exc
Exchange Rates - Summary of Exchange Rates in Preparing Consolidated Statements (Detail) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Euro to sterling [member] | Income statement [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Average foreign exchange rate | 1.14 | 1.13 | 1.14 |
Euro to sterling [member] | Statement of financial position [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Closing foreign exchange rate | 1.18 | 1.11 | |
US dollars to sterling [member] | Income statement [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Average foreign exchange rate | 1.28 | 1.34 | 1.29 |
US dollars to sterling [member] | Statement of financial position [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Closing foreign exchange rate | 1.33 | 1.27 |