Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
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 | 1,926,018,680 |
Entity Emerging Growth Company | false |
ICFR Auditor Attestation Flag | true |
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 |
No Trading Symbol Flag | true |
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 d |
Security Exchange Name | NYSE |
Trading Symbol | RELX/29 d |
3.000% Guaranteed Notes due 2030 [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | 3.000% Guaranteed Notes due 2030 |
Security Exchange Name | NYSE |
Trading Symbol | RELX/30 |
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 | +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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | |||
Revenue | £ 7,110 | £ 7,874 | £ 7,492 |
Cost of sales | (2,487) | (2,755) | (2,644) |
Gross profit | 4,623 | 5,119 | 4,848 |
Selling and distribution costs | (1,212) | (1,292) | (1,191) |
Administration and other expenses | (1,901) | (1,767) | (1,725) |
Share of results of joint ventures | 15 | 41 | 32 |
Operating profit | 1,525 | 2,101 | 1,964 |
Finance income | 3 | 9 | 6 |
Finance costs | (175) | (314) | (217) |
Net finance costs | (172) | (305) | (211) |
Disposals and other non-operating items | 130 | 51 | (33) |
Profit before tax | 1,483 | 1,847 | 1,720 |
Current tax | (264) | (382) | (297) |
Deferred tax | (11) | 44 | 5 |
Tax expense | (275) | (338) | (292) |
Net profit for the year | 1,208 | 1,509 | 1,428 |
Attributable to: | |||
RELX PLC shareholders | 1,224 | 1,505 | 1,422 |
Non-controlling interests | (16) | 4 | 6 |
Net profit for the year | £ 1,208 | £ 1,509 | £ 1,428 |
Basic earnings per share | |||
Basic earnings per share | £ 0.635 | £ 0.774 | £ 0.719 |
Diluted earnings per share | |||
Diluted earnings per share | £ 0.632 | £ 0.769 | £ 0.714 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Of Comprehensive Income [Abstract] | |||
Net profit for the year | £ 1,208 | £ 1,509 | £ 1,428 |
Items that will not be reclassified to profit or loss: | |||
Actuarial losses defined benefit pension schemes | (155) | (137) | (91) |
Tax on items that will not be reclassified to profit or loss | 39 | 23 | 15 |
Total items that will not be reclassified to profit or loss | (116) | (114) | (76) |
Items that may be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | (265) | (82) | 207 |
Fair value movements on cash flow hedges | (6) | 16 | (59) |
Transfer to net profit from cash flow hedge reserve | 22 | 35 | 17 |
Tax on items that may be reclassified to profit or loss | (4) | (8) | 9 |
Total items that may be reclassified to profit or loss | (253) | (39) | 174 |
Other comprehensive (loss)/income for the year | (369) | (153) | 98 |
Total comprehensive income for the year | 839 | 1,356 | 1,526 |
Attributable to: | |||
RELX PLC shareholders | 855 | 1,352 | 1,520 |
Non-controlling interests | (16) | 4 | 6 |
Total comprehensive income for the year | £ 839 | £ 1,356 | £ 1,526 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | |||
Cash generated from operations | £ 2,264 | £ 2,724 | £ 2,555 |
Interest paid (including lease interest) | (179) | (175) | (179) |
Interest received | 7 | 4 | 24 |
Tax paid (net) | (496) | (464) | (415) |
Net cash from operating activities | 1,596 | 2,089 | 1,985 |
Cash flows from investing activities | |||
Acquisitions | (869) | (423) | (935) |
Purchases of property, plant and equipment | (43) | (47) | (56) |
Expenditure on internally developed intangible assets | (319) | (333) | (306) |
Purchase of investments | (2) | (8) | (13) |
Proceeds from disposals of property, plant and equipment | 2 | 4 | |
Gross proceeds from business disposals | 54 | 82 | 34 |
Payments on business disposals | (25) | (40) | (29) |
Dividends received from joint ventures | 31 | 34 | 30 |
Net cash used in investing activities | (1,173) | (733) | (1,271) |
Cash flows from financing activities | |||
Dividends paid to shareholders | (880) | (842) | (796) |
Distributions to non-controlling interests | (6) | (9) | (8) |
(Decrease)/increase in short-term bank loans, overdrafts and commercial paper | (436) | 98 | 147 |
Issuance of term debt | 2,342 | 729 | 958 |
Repayment of term debt | (1,233) | (617) | (211) |
Repayment of leases | (105) | (102) | (95) |
Receipts in respect of subleases | 15 | 16 | 14 |
Disposal of non-controlling interest | 6 | ||
Repurchase of ordinary shares | (150) | (600) | (700) |
Purchase of shares by Employee Benefit Trust | (37) | (37) | (43) |
Proceeds on issue of ordinary shares | 16 | 29 | 21 |
Net cash used in financing activities | (474) | (1,329) | (713) |
(Decrease)/increase in cash and cash equivalents | (51) | 27 | 1 |
Movement in cash and cash equivalents | |||
At start of year | 138 | 114 | 111 |
(Decrease)/increase in cash and cash equivalents | (51) | 27 | 1 |
Exchange translation differences | 1 | (3) | 2 |
At end of year | £ 88 | £ 138 | £ 114 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current assets | ||
Goodwill | £ 7,224 | £ 6,824 |
Intangible assets | 3,425 | 3,452 |
Investments in joint ventures | 103 | 118 |
Other investments | 259 | 133 |
Property, plant and equipment | 162 | 180 |
Right-of-use assets | 216 | 264 |
Other receivables | 27 | 31 |
Deferred tax assets | 270 | 239 |
Net pension assets | 47 | 45 |
Derivative financial instruments | 138 | 58 |
Non-current assets | 11,871 | 11,344 |
Current assets | ||
Inventories and pre-publication costs | 240 | 217 |
Trade and other receivables | 1,927 | 2,067 |
Derivative financial instruments | 19 | 23 |
Cash and cash equivalents | 88 | 138 |
Current assets | 2,274 | 2,445 |
Total assets | 14,145 | 13,789 |
Current liabilities | ||
Trade and other payables | 3,260 | 3,479 |
Derivative financial instruments | 9 | 24 |
Borrowings | 847 | 2,060 |
Taxation | 149 | 372 |
Provisions | 109 | 12 |
Current liabilities | 4,374 | 5,947 |
Non-current liabilities | ||
Derivative financial instruments | 3 | 10 |
Borrowings | 6,276 | 4,354 |
Deferred tax liabilities | 665 | 593 |
Net pension obligations | 671 | 565 |
Other payables | 49 | 108 |
Provisions | 6 | 22 |
Non-current liabilities | 7,670 | 5,652 |
Total liabilities | 12,044 | 11,599 |
Net assets | 2,101 | 2,190 |
Capital and reserves | ||
Share capital | 286 | 286 |
Share premium | 1,459 | 1,443 |
Shares held in treasury | (887) | (834) |
Translation reserve | 27 | 292 |
Other reserves | 1,214 | 979 |
Shareholders’ equity | 2,099 | 2,166 |
Non-controlling interests | 2 | 24 |
Total equity | £ 2,101 | £ 2,190 |
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, 2017 | £ 2,313 | £ 224 | £ 3,104 | £ (1,631) | £ 170 | £ 425 | £ 2,292 | £ 21 |
Total comprehensive income for the year | 1,526 | 207 | 1,313 | 1,520 | 6 | |||
Dividends paid | (804) | (796) | (796) | (8) | ||||
Issue of ordinary shares, net of expenses | 21 | 134 | 114 | (227) | 21 | |||
Repurchase of ordinary shares | (743) | (743) | (743) | |||||
Cancellation of shares | (68) | (1,795) | 1,601 | 262 | ||||
Increase in share based remuneration reserve (net of tax) | 35 | 35 | 35 | |||||
Settlement of share awards | 35 | (35) | ||||||
Acquisitions | 11 | 11 | ||||||
Exchange differences on translation of capital and reserves | (8) | 4 | (3) | 7 | ||||
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 | (82) | 1,434 | 1,352 | 4 | |||
Dividends paid | (851) | (842) | (842) | (9) | ||||
Issue of ordinary shares, net of expenses | 29 | 1 | 28 | 29 | ||||
Repurchase of ordinary shares | (637) | (637) | (637) | |||||
Bonus issue of ordinary share | 4,000 | (4,000) | ||||||
Cancellation of bonus share | (4,000) | 4,000 | ||||||
Cancellation of shares | (5) | 504 | (499) | |||||
Increase in share based remuneration reserve (net of tax) | 33 | 33 | 33 | |||||
Settlement of share awards | 33 | (33) | ||||||
Acquisitions | (1) | (1) | ||||||
Put option | (103) | (103) | (103) | |||||
Disposal of non-controlling interest | 6 | 5 | 5 | 1 | ||||
Exchange differences on translation of capital and reserves | (1) | (1) | ||||||
Equity at end of period at Dec. 31, 2019 | 2,190 | 286 | 1,443 | (834) | 292 | 979 | 2,166 | 24 |
Total comprehensive income for the year | 839 | (265) | 1,120 | 855 | (16) | |||
Dividends paid | (886) | (880) | (880) | (6) | ||||
Issue of ordinary shares, net of expenses | 16 | 16 | 16 | |||||
Repurchase of ordinary shares | (87) | (87) | (87) | |||||
Increase in share based remuneration reserve (net of tax) | 27 | 27 | 27 | |||||
Settlement of share awards | 34 | (34) | ||||||
Acquisitions | 2 | 2 | (2) | |||||
Exchange differences on translation of capital and reserves | 2 | 2 | ||||||
Equity at end of period at Dec. 31, 2020 | £ 2,101 | £ 286 | £ 1,459 | £ (887) | £ 27 | £ 1,214 | £ 2,099 | £ 2 |
Basis of preparation and accoun
Basis of preparation and accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
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 2020. Accounting policies The Group’s consolidated financial statements are prepared in accordance with International Accounting Standards in conformity with the requirements of the Companies Act 2006 and International Financial Reporting Standards (IFRS) adopted pursuant to Regulation (EC) No 1606/2002 as it applies in 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 2019. 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 162 to 167. 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 162. 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. 1 Basis of preparation and accounting policies (continued) 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. Standards and amendments effective for the year The interpretations and amendments to IFRS effective for 2020 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, 2020 | |
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 188. 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. Our subscription and Exhibition related revenue streams require payment in advance of the service being provided. Payment terms offered to customers are in line with the standard in the markets and geographies we operate in, and contracts do not contain significant financing components. Contracts for our transactional electronic revenue streams generally have payments that vary with volume of usage. Other than that, our contracts do not involve variable consideration. 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. 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 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 combining 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 2020 £m 2019 £m 2018 £m 2020 £m 2019 £m 2018 £m Scientific, Technical & Medical 2,692 2,637 2,538 1,021 982 942 Risk 2,417 2,316 2,117 894 853 776 Legal 1,639 1,652 1,618 330 330 320 Exhibitions 362 1,269 1,219 (164 ) 331 313 Sub-total 7,110 7,874 7,492 2,081 2,496 2,351 Unallocated items — — — (5 ) (5 ) (5 ) Total 7,110 7,874 7,492 2,076 2,491 2,346 * Details of the exceptional costs excluded from adjusted operating profit are disclosed on page 141 in Note 2. 2020 Scientific, Technical & Medical Risk Legal Exhibitions Total Revenue by geographical market North America 1,224 1,921 1,119 43 4,307 Europe* 621 327 338 83 1,369 Rest of world 847 169 182 236 1,434 Total revenue 2,692 2,417 1,639 362 7,110 Revenue by format Electronic 2,326 2,387 1,422 44 6,179 Face-to-face 1 19 7 318 345 365 11 210 — 586 Total revenue 2,692 2,417 1,639 362 7,110 Revenue by type Subscriptions 2,048 944 1,287 — 4,279 Transactional 605 1,469 348 362 2,784 Advertising 39 4 4 — 47 Total revenue 2,692 2,417 1,639 362 7,110 * Europe includes revenue of £464m from the United Kingdom ( 2019 Scientific, Technical & Medical Risk 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) 2018 Scientific, Technical & Medical Risk 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 Over 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, where revenue is recognised on the achievement of delivery milestones or other specified performance obligations. As at 31 December 2020, the aggregate amount of the transaction price of such contracts which relates to performance obligations which have not yet been delivered was approximately £146m (2019: £162m). It is expected ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2020 2019 2018 £m £m £m North America 4,192 4,308 4,013 Europe 2,436 2,832 2,790 Rest of world 482 734 689 Total 7,110 7,874 7,492 Revenue by geographical origin from the United Kingdom in 2020 was £1,176m (2 ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and intangible assets Capital expenditure additions Amortisation of acquired intangible assets Depreciation and other amortization 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 £m £m £m £m £m £m £m £m £m £m £m £m Scientific, Technical & Medical 169 65 106 94 104 100 65 62 58 120 109 109 Risk 822 47 852 93 96 92 192 170 161 98 89 73 Legal — 139 30 153 155 145 68 24 33 176 150 147 Exhibitions 6 251 61 24 26 28 51 39 36 73 41 35 Total 997 502 1,049 364 381 365 376 295 288 467 389 364 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 nil (2019: £1m; 2018: £1m) in Exhibitions ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION 2020 2019 2018 £m £m £m North America 8,940 8,365 8,692 Europe 2,058 2,156 1,996 Rest of world 418 481 461 Total 11,416 11,002 11,149 Non-current assets held in the United Kingdom totalled £1,158m (2019: £1,248m; 2018: £988m). Non 2 Revenue and segment analysis (continued) Operating profit is reconciled to adjusted operating profit as follows: RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2020 2019 2018 £m £m £m Operating profit 1,525 2,101 1,964 Adjustments: Amortisation of acquired intangible assets 376 295 288 Exceptional costs in Exhibitions 183 — — Acquisition-related items (12 ) 84 84 Reclassification of tax in joint ventures 5 12 11 Reclassification of finance income in joint ventures (1 ) (1 ) (1 ) Adjusted operating profit 2,076 2,491 2,346 The share of post-tax results of joint ventures of £15m (2019: £41m; 2018: £32m) included in operating profit comprised £4m (2019: £3m; 2018: nil) relating to Legal, £10m (2019: £36m; 2018: £31m) relating to Exhibitions and £1m (2019: £2m; 2018: £1m) relating to Risk. The Exhibitions business was significantly disrupted in 2020 by restrictions applied around the world in response to Covid-19, leading to the cancellation of a large number of events, with considerable costs being incurred. In addition, action has been taken to reduce the cost structure of the business, creating a leaner, more agile organisation, and a more focused approach has been adopted for systems development. Exhibitions has incurred exceptional costs of £183m which consist of £61m of costs relating to events that were cancelled, £82m of restructuring costs (mainly relating to severance) and a £40m impairment charge (£29m related to internally developed intangible assets and £11m related to property). The related tax credit amounted to £45m. These costs were incurred primarily in the UK, the US, France and Germany. Of the £183m exceptional costs, £135m are cash costs, of which £51m were paid in 2020. The majority of the remainder are expected to be paid in 2021. All costs were included within administration and other expenses in the income statement. Given their size and their non-recurring nature, these costs have been classified as exceptional, and as such are excluded from adjusted operating profit and other adjusted measures. Acquisition-related items in the year included a gain of £76m from the revaluation of a put and call option arrangement relating to a non-controlling interest in a subsidiary within Legal. |
Operating profit
Operating profit | 12 Months Ended |
Dec. 31, 2020 | |
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: 2020 2019 2018 Note £m £m £m Staff costs Wages and salaries 2,173 2,116 1,959 Social security costs 232 230 215 Pensions 6 125 120 135 Share based remuneration 25 32 41 Total staff costs 2,555 2,498 2,350 Depreciation and amortisation Amortisation of acquired intangible assets 15 376 294 287 Share of joint ventures’ amortisation of acquired intangible assets — 1 1 Amortisation of internally developed intangible assets 15 319 249 225 Depreciation of property, plant and equipment 17 60 58 62 Depreciation of right-of-use assets 88 82 77 Total depreciation and amortisation 843 684 652 Other expenses and income Cost of sales including pre-publication costs and inventory expenses 2,487 2,755 2,638 Short-term and low value lease expenses 21 20 18 Operating lease rentals income (1 ) (1 ) (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 93 to 114. Refer to note 2 for further detail on the exceptional costs in Exhibitions. |
Auditor_s remuneration
Auditor’s remuneration | 12 Months Ended |
Dec. 31, 2020 | |
Auditors Remuneration [Abstract] | |
Auditor’s remuneration | 4 Auditor’s remuneration 2020 2019 2018 £m £m £m Auditor’s remuneration Payable to the auditors of RELX PLC 0.8 0.8 0.9 Payable to the auditors of the Group’s subsidiaries 7.8 7.8 6.5 Audit services 8.6 8.6 7.4 Audit-related assurance services 0.8 0.6 0.9 Total audit and audit-related assurance services 9.4 9.2 8.3 Other services: Due diligence and other transaction-related services — 0.1 2.7 Total non-audit related services — 0.1 2.7 Total auditor’s remuneration 9.4 9.3 11.0 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. 2020 audit related assurance services included no fees for se |
Personnel
Personnel | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Employees [Abstract] | |
Personnel | 5 Personnel NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2020 2019 2018 2020 2019 2018 Business segment Scientific, Technical & Medical 8,600 8,100 7,900 8,300 8,000 7,700 Risk 9,700 9,100 8,700 9,600 9,000 8,600 Legal 10,400 10,600 10,500 10,500 10,600 10,600 Exhibitions 3,700 4,600 4,200 4,200 4,400 4,100 Sub-total 32,400 32,400 31,300 32,600 32,000 31,000 Corporate/shared functions 800 800 800 800 800 800 Total 33,200 33,200 32,100 33,400 32,800 31,800 Geographical location North America 14,200 14,100 13,800 14,200 14,000 13,700 Europe 9,500 9,500 9,200 9,600 9,400 9,200 Rest of world 9,500 9,600 9,100 9,600 9,400 8,900 Total 33,200 33,200 32,100 33,400 32,800 31,800 The number of UK full-time equivalents as at 31 December 2020 was 5,400 (2019: 5,400; 2018: 5,200) and the average during the year was 5,400 (2019: 5,300; 2018: 5,100) |
Pension schemes
Pension schemes | 12 Months Ended |
Dec. 31, 2020 | |
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 2020, 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 2020 were in the UK and the US, and are summarised below. 6 Pension schemes (continued) Major defined benefit schemes in place at 31 December 2020 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. 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 £88m. 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 2021 are expected to be approximately £57m 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: 2020 2019 2018 £m £m £m Defined benefit pension expense 11 11 47 Defined contribution pension expense 114 109 95 Total 125 120 142 £125m (2019: £120m; 2018: £135m) 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: 2020 2019 2018 UK US Total UK US Total UK US Total £m £m £m £m £m £m £m £m £m Service cost 21 3 24 21 3 24 27 9 36 Settlement and past service (credits)/cost — (13 ) (13 ) (8 ) (5 ) (13 ) 11 — 11 Defined benefit pension expense 21 (10 ) 11 13 (2 ) 11 38 9 47 Net interest on net defined benefit obligation 9 1 10 9 3 12 6 3 9 Net defined benefit pension expense 30 (9 ) 21 22 1 23 44 12 56 In 2020, the past service credit relates to changes to the US scheme allowing in-service distributions to be made. 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. 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 2020 2019 2018 UK US UK US UK US Discount rate 1.45 % 2.45 % 2.05 % 3.25 % 2.85 % 4.20 % Inflation 2.80 % 2.50 % 2.95 % 2.50 % 3.15 % 2.50 % Discount rates are set by reference to high-quality corporate bond yields. 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 2020 Male average life expectancy Female average life expectancy UK US UK US Member currently aged 60 years 86 86 89 88 Member currently aged 45 years 87 86 90 88 6 Pension schemes (continued) 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: 2020 2019 UK US Total UK US Total £m £m £m £m £m £m Defined benefit obligation At start of year (4,251 ) (1,018 ) (5,269 ) (3,772 ) (1,040 ) (4,812 ) Service cost (21 ) (3 ) (24 ) (21 ) (3 ) (24 ) Past service credits — 13 13 8 5 13 Interest on pension scheme liabilities (85 ) (31 ) (116 ) (104 ) (42 ) (146 ) Actuarial loss on financial assumptions (492 ) (99 ) (591 ) (495 ) (116 ) (611 ) Actuarial gain/(loss) arising from experience assumptions 60 (13 ) 47 22 (5 ) 17 Contributions by employees (8 ) — (8 ) (9 ) — (9 ) Liabilities transferred on settlement — — — — 65 65 Benefits paid 129 56 185 120 77 197 Exchange translation differences 0 33 33 — 41 41 At end of year (4,668 ) (1,062 ) (5,730 ) (4,251 ) (1,018 ) (5,269 ) Fair value of scheme assets At start of year 3,767 995 4,762 3,413 966 4,379 Interest income on plan assets 76 30 106 95 39 134 Return on assets excluding amounts included in interest income 291 135 426 304 166 470 Contributions by employer 63 7 70 66 6 72 Contributions by employees 8 — 8 9 — 9 Assets transferred on settlement — — — — (65 ) (65 ) Benefits paid (129 ) (56 ) (185 ) (120 ) (77 ) (197 ) Exchange translation differences — (34 ) (34 ) — (40 ) (40 ) At end of year 4,076 1,077 5,153 3,767 995 4,762 Opening net deficit (484 ) (23 ) (507 ) (359 ) (74 ) (433 ) Service cost (21 ) (3 ) (24 ) (21 ) (3 ) (24 ) Net interest on net defined benefit obligation (9 ) (1 ) (10 ) (9 ) (3 ) (12 ) Settlement and past service credits — 13 13 8 5 13 Contributions by employer 63 7 70 66 6 72 Actuarial (losses)/gains (141 ) 23 (118 ) (169 ) 45 (124 ) Exchange translation differences — (1 ) (1 ) — 1 1 Net pension obligation (592 ) 15 (577 ) (484 ) (23 ) (507 ) Impact of asset ceiling — (47 ) (47 ) — (13 ) (13 ) Overall net pension obligation (592 ) (32 ) (624 ) (484 ) (36 ) (520 ) As at 31 December 2020, the defined benefit obligations comprised £5,459m (2019: £5,016m) in relation to funded schemes and £271m (2019: £253m) in relation to unfunded schemes. The weighted average duration of defined benefit scheme liabilities is 19 years in the UK (2019: 19 years) and 11 years in the US (2019: 13 years). Deferred tax assets of £125m (2019: £96m) are recognised in respect of the pension scheme deficits. A net pension asset has been recognised in relation to the US funded scheme after considering the guidance in IAS 19 – Employee Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2020 2019 £m £m Net pension asset recognised 47 45 Net pension obligation (671 ) (565 ) Overall net pension obligation (624 ) (520 ) 6 Pension schemes (continued) Amounts recognised in the statement of comprehensive income are set out below: 2020 2019 2018 £m £m £m Gains and losses arising during the year: Experience gains on scheme liabilities 47 17 6 Experience gains/(losses) on scheme assets 426 470 (273 ) Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates (671 ) (743 ) 242 – inflation 127 142 — – other actuarial assumptions (47 ) (10 ) (66 ) (118 ) (124 ) (91 ) Net cumulative losses at start of year (828 ) (704 ) (613 ) Net cumulative losses at end of year (946 ) (828 ) (704 ) Additionally a loss of £37m (2019: £13m) is recognised in the statement of comprehensive income in relation to the asset ceiling. As at 31 December 2020, the asset ceiling balance is £47m (2019: £13), in 2020 there was a £3m (2019: nil) foreign exchange gain on 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 2020 2019 UK US Total UK US Total £m £m £m £m £m £m Equities 1,563 10 1,573 1,358 126 1,484 Liability matching assets 1,499 1,052 2,551 1,414 850 2,264 Property funds and ground leases 706 — 706 715 — 715 Direct lending 204 — 204 182 — 182 Cash and cash equivalents 95 12 107 75 13 88 Other 9 3 12 23 6 29 Total 4,076 1,077 5,153 3,767 995 4,762 Included within liability matching assets are government bonds totalling £1,948m (2019: £1,486m). 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 257 Increase/decrease of 0.25% in the expected inflation rate 161 Increase/decrease of one year in assumed life expectancy 216 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, 2020 | |
Net Finance Costs [Abstract] | |
Net finance costs | 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. 2020 2019 2018 £m £m £m Interest on short-term bank loans, overdrafts and commercial paper (17 ) (20 ) (22 ) Interest on term debt (122 ) (266 ) (161 ) Interest on lease liabilities (12 ) (15 ) (14 ) Total borrowing costs (151 ) (301 ) (197 ) Losses on loans and derivatives not designated as hedges (13 ) — (10 ) Fair value losses on designated fair value hedge relationships — — (1 ) Net financing charge on defined benefit pension schemes and other (11 ) (13 ) (9 ) Finance costs (175 ) (314 ) (217 ) Interest on bank deposits 2 3 4 Interest income on net finance lease receivables 1 2 2 Fair value gains on designated fair value hedge relationships — 1 — Gains on loans and derivatives not designated as hedges — 3 — Finance income 3 9 6 Net finance costs (172 ) (305 ) (211 ) A gain of £3m (2019: loss of £1m; 2018: losses of £8m) on 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. Losses of £4m (2019: gains of nil; 2018: gains of £3m) in total were transferred from the hedge reserve in the period. In 2019 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, 2020 | |
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. 2020 2019 2018 £m £m £m Revaluation of investments 151 25 (11 ) (Loss)/gain on disposal of businesses and assets held for sale (21 ) 26 (22 ) Net gain/(loss) on disposals and other non-operating items 130 51 (33 ) The revaluation of investments relates mainly to venture fund investments further details of which are provided in Note 16. |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2020 | |
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. 9 Taxation (continued) 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, ▪ 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. 2020 2019 2018 £m £m £m Current tax United Kingdom (80 ) (141 ) (71 ) Rest of world (184 ) (241 ) (226 ) Total current tax charge (264 ) (382 ) (297 ) Deferred tax (11 ) 44 5 Tax expense (275 ) (338 ) (292 ) Cash tax paid in the year was £496m (2019: £464m; 2018: £415m), 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: ▪ Tax payments relating to a particular year’s profits are typically due partly in the year and partly in the following year. In 2020 there was an acceleration of instalment payments in the UK. ▪ Tax expense includes deferred tax, an accounting adjustment where an item is included in the income statement in one year but is taxed in another year. The acquisition of intangible assets often results in deferred tax liabilities, the unwind of which does not result in tax payments. ▪ Current tax expense is the best estimate at the end of the period of cash tax expected to be paid. To the extent the final tax liability is different, any cash tax impact will occur in a later period. ▪ 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. 9 Taxation (continued) 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: 2020 2019 2018 £m % £m % £m % Profit before tax 1,483 1,847 1,720 Tax at average applicable rates (331 ) 22.3 % (418 ) 22.6 % (361 ) 21.0 % Tax effect of share of results of joint ventures 3 -0.2 % 10 (0.5 )% 8 (0.5 )% Expenses not deductible for tax purposes 18 -1.2 % (3 ) 0.2 % (24 ) 1.4 % Non-deductible costs of share based remuneration (2 ) 0.1 % (1 ) 0.1 % (1 ) 0.1 % Non-deductible disposal-related gains and losses (2 ) 0.1 % 4 (0.2 )% — 0.0 % Deferred tax assets of the period not recognised (19 ) 1.3 % (15 ) 0.8 % (24 ) 1.4 % Change in recognition of deferred tax assets or liabilities 14 -0.9 % 12 (0.6 )% (15 ) 0.9 % Other adjustments in respect of prior periods 44 -3.0 % 73 (4.0 )% 13 (0.8 )% Exceptional tax credit — — — — 112 (6.5 )% Tax expense (275 ) 18.5 % (338 ) 18.3 % (292 ) 17.0 % The weighted average applicable tax rate for the year was 22.3% (2019: 22.6%; 2018: 21.0%), 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 2016. However this change was reversed in 2020. In the US, the Tax Cuts and Jobs Act 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 but reversed in 2020. In total, the deferred tax effect of changes in tax rates for the year was a tax credit of £14m (2019: £6m; 2018: £8m). The effective tax rate of 18.5% (2019: 18.3%; 2018:17%) is lower than the weighted average applicable tax rate of 22.3% mainly because of adjustments in respect of prior periods including the resolution of historical tax matters. Included in expenses not deductible for tax purposes is a credit of £19m relating to the revaluation of a put and call option arrangement. In 2019 the effective tax rate was also lower than the weighted average applicable tax rate due to a tax credit arising from the substantial resolution of certain prior year tax matters. In 2018, there was an exceptional tax credit arising from the substantial resolution of certain prior year tax matters and the deferred tax effect of tax rate reductions in the Netherlands and the US. The following tax has been recognised in other comprehensive income or directly in equity during the year: 2020 2019 2018 £m £m £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes 39 23 15 Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges (4 ) (8 ) 9 Net tax credit recognised in other comprehensive income 35 15 24 Tax credit/(debit) on share based remuneration recognised directly in equity 5 6 (3 ) 9 Taxation (continued) 2020 2019 £m £m Deferred tax assets 270 239 Deferred tax liabilities (665 ) (593 ) Total (395 ) (354 ) 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 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 ) — — — — — (44 ) Exchange translation differences 6 19 14 (9 ) (3 ) (1 ) (11 ) 15 Deferred tax (liability)/asset at 1 January 2020 (150 ) (543 ) (290 ) 179 75 96 279 (354 ) Credit/(charge) to profit 51 10 1 (13 ) 20 0 (80 ) (11 ) Credit/(charge) to equity/other comprehensive income — — — — — 29 (1 ) 28 Acquisitions — (97 ) — — 6 — 1 (90 ) Exchange translation differences 1 18 6 8 (2 ) — 1 32 Deferred tax (liability)/asset at 31 December 2020 (98 ) (612 ) (283 ) 174 99 125 200 (395 ) The closing deferred tax liability balance of other temporary differences includes capitalised development costs (£207m) and fair value movements on investments (£43m). The closing deferred tax asset balance of other temporary differences includes accruals and provisions (£95m), share based remuneration provisions (£27m), capitalised development costs (£21m) and property, plant and equipment (£16m). 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 297m (2019: £255m) carried forward at year end. The deferred tax asset not recognised in respect of these losses and interest expenses is approximately £81m (2019: £66m). Of the unrecognised losses and interest expenses, £168m (2019: £124m) will expire if not utilised within ten years and £129m (2019: £131m) will expire after more than ten years or have no expiration date. In addition there were state and local tax losses of £94m (2019: £96m) where it is not more likely than not that these losses will be utilised. Of the unrecognised state and local losses, £44m (2019: £45m) will expire within ten years and £50m (2019: £51m ) will expire after more than ten years. The deferred tax asset not recognised in respect of these losses is approximately £6m (2019: £6m). Deferred tax assets of approximately £4m (2019: £6m) have not been recognised in respect of tax losses and other temporary differences carried forward of £23m (2019: £33m), which can only be used to offset future capital gains. |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
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. 10 Earnings per share (continued) 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 2020 2019 2018 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 1,224 1,926.2 63.5p 1,505 1,943.5 77.4p 1,422 1,977.2 71.9p Diluted earnings per share 1,224 1,937.8 63.2p 1,505 1,956.2 76.9p 1,422 1,990.8 71.4p The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. ADJUSTED EARNINGS PER SHARE 2020 2019 2018 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 1,543 1,926.2 80.1p 1,808 1,943.5 93.0p 1,674 1,977.2 84.7p RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC SHAREHOLDERS 2020 Pre tax adjustment £m Tax on adjustment £m Total £m Net profit attributable to RELX PLC shareholders 1,224 Adjustments: Amortisation of acquired intangible assets 360 35 395 Other deferred tax credits from intangible assets* — (78 ) (78 ) Acquisition-related items (12 ) (6 ) (18 ) Net interest on net defined benefit pension obligation and other 11 (2 ) 9 Disposals and other non-operating items (130 ) 3 (127 ) Exceptional expense in Exhibitions 183 (45 ) 138 Adjusted net profit attributable to RELX PLC shareholders 1,543 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. 2019 Pre tax adjustment £m Tax on adjustment £m Total £m Net profit attributable to RELX PLC shareholders 1,505 Adjustments: Amortisation of acquired intangible assets 295 26 321 Other deferred tax credits from intangible assets — (57 ) (57 ) Acquisition-related items 84 (15 ) 69 Net interest on net defined benefit pension obligation and other 13 (3 ) 10 Disposals and other non-operating items (51 ) 11 (40 ) Adjusted net profit attributable to RELX PLC shareholders 1,808 10 Earnings per share (continued) 2018 Pre tax adjustment £m Tax on adjustment £m Total £m Net profit attributable to RELX PLC shareholders 1,422 Adjustments: Amortisation of acquired intangible assets 288 34 322 Other deferred tax credits from intangible assets — (55 ) (55 ) Acquisition-related items 84 (13 ) 71 Net interest on net defined benefit pension obligation and other 9 (2 ) 7 Disposals and other non-operating items 33 (14 ) 19 Exceptional tax credit — (112 ) (112 ) Adjusted net profit attributable to RELX PLC shareholders 1,674 |
Statement of cash flows
Statement of cash flows | 12 Months Ended |
Dec. 31, 2020 | |
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 OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS 2020 2019 2018 £m £m £m Operating profit 1,525 2,101 1,964 Share of results of joint ventures (15 ) (41 ) (32 ) Amortisation of acquired intangible assets 376 294 287 Amortisation of internally developed intangible assets 319 249 225 Depreciation of property, plant and equipment 60 58 62 Depreciation of right-of-use assets 88 82 77 Share based remuneration 25 32 41 Total non-cash items 868 715 692 Increase in inventories and pre-publication costs (18 ) (14 ) (7 ) Decrease/(increase) in receivables 149 (116 ) (89 ) (Decrease)/increase in payables (245 ) 79 27 Increase in working capital (114 ) (51 ) (69 ) Cash generated from operations 2,264 2,724 2,555 CASH FLOW ON ACQUISITIONS 2020 2019 2018 Note £m £m £m Purchase of businesses 12 -864 (399 ) (919 ) Deferred payments relating to prior year acquisitions -5 (24 ) (16 ) Total -869 (423 ) (935 ) 11 Statement of cash flows (continued) RECONCILIATION OF NET BORROWINGS Cash and cash equivalents £m Borrowings £m Related derivative financial instruments £m Finance lease receivable £m 2020 £m 2019 £m 2018 £m At start of year 138 (6,414 ) 52 33 (6,191 ) (6,177 ) (5,042 ) (Decrease)/increase in cash and cash equivalents (51 ) — — — (51 ) 27 1 Decrease/(increase) in short-term bank loans, overdrafts and commercial paper — 436 — — 436 (98 ) (147 ) Issuance of term debt — (2,342 ) — — (2,342 ) (729 ) (958 ) Repayment of term debt — 1,233 — — 1,233 617 211 Repayment of leases — 105 — (15 ) 90 86 81 Change in net borrowings resulting from cash flows (51 ) (568 ) — (15 ) (634 ) (97 ) (812 ) Borrowings in acquired businesses — (3 ) — — (3 ) (6 ) (12 ) Remeasurement and derecognition of leases — (8 ) — — (8 ) (28 ) (12 ) Inception of leases — (25 ) — 1 (24 ) (60 ) (28 ) Fair value and other adjustments to borrowings and related derivatives — (76 ) 72 — (4 ) (94 ) (25 ) Exchange translation differences 1 (29 ) (5 ) (1 ) (34 ) 271 (246 ) At end of year 88 (7,123 ) 119 18 (6,898 ) (6,191 ) (6,177 ) 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, 2020 | |
Disclosure Of Business Combinations [Abstract] | |
Acquisitions | 12 Acquisitions Accounting policy 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. 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 Fair value Fair value 2020 2019 2018 £m £m £m Goodwill 570 257 626 Intangible assets 427 245 423 Property, plant and equipment 3 1 5 Non current assets 1 4 12 Current assets 20 20 24 Current liabilities (24 ) (53 ) (72 ) Borrowings (3 ) (6 ) (12 ) Deferred tax (90 ) (44 ) (51 ) Net assets acquired 904 424 955 Consideration (after taking account of £29m (2019: £32m; 2018: £27m) net cash acquired) 904 424 955 Less: consideration deferred to future years (40 ) (10 ) (36 ) Less: acquisition date fair value of equity interest — (15 ) — Net cash flow 864 399 919 During 2020, RELX completed several acquisitions for a total of £878m, or £904m adjusted for debt and cash acquired. On 31 January 2020, RELX acquired 100% of the share capital of ID Analytics, a provider of credit and fraud solutions for consideration of $375m. On 19 March 2020, RELX acquired 100% of the share capital of Emailage, a provider of email based fraud solutions for consideration of $480m. Both of these acquisitions are part of Risk. On December 9, 2020, RELX acquired 100% of the share capital of Shadow Health, a developer of virtual simulations in nursing and healthcare education which is part of STM. The businesses acquired in 2020 contributed £70m to revenue, increased adjusted operating profit by £13m, decreased net profit by £32m (after charging £44m of integration costs and amortisation of acquired intangibles) and contributed £9m 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 £7,148m, £2,082m and £1,229m respectively, before taking account of acquisition financing costs. |
Equity dividends
Equity dividends | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Dividends [Abstract] | |
Equity dividends | 13 Equity dividends ORDINARY DIVIDENDS PAID IN THE YEAR 2020 2019 2018 £m £m £m RELX PLC 880 842 420 RELX NV — — 376 Total 880 842 796 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 2019 final dividend of 32.1p (2019: 29.7p; 2018: 27.7p) and a 2020 interim dividend of 13.6p (2019: 13.6p; 2018: 12.4p), giving a total of 45.7p (2019: 43.3p; 2018: 40.1p The Directors of RELX PLC have proposed a final dividend of 33.4p (2019: 32.1p; 2018: 29.7p), giving a total for the financial year of 47.0p (2019: 45.7p; 2018: 42.1p). The total cost of funding the proposed final dividend is expected to be £643m, 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 2020, 2019 and 2018. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill [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. 2020 2019 £m £m At start of year 6,824 6,899 Acquisitions 570 257 Disposals/reclassified as held for sale (6 ) (64 ) Exchange translation differences (164 ) (268 ) At end of year 7,224 6,824 The carrying amount of goodwill is after cumulative amortisation of £1,151m (2019: £1,178m), which was charged prior to the adoption of IFRS, and £9m (2019: £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 or indefinite lived intangible assets in 2020 (2019: nil). 14 Goodwill (continued) 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 2020 2019 £m £m Scientific, Technical & Medical 1,669 1,594 Risk 3,546 3,186 Legal 1,395 1,428 Exhibitions 614 616 Total 7,224 6,824 The key assumptions used for each group of cash generating units are disclosed below: KEY ASSUMPTIONS 2020 2019 Pre-tax discount rate Nominal long-term market growth rate Pre-tax discount rate Nominal long-term market growth rate Scientific, Technical & Medical 9.8 % 3 % 9.4 % 3 % Risk 10.6 % 3 % 10.0 % 3 % Legal 11.2 % 2 % 10.6 % 2 % Exhibitions 12.6 % 3 % 11.6 % 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%. Following the disruption to the business due to Covid-19 a further sensitivity analysis has been performed on the Exhibitions cash generating unit which assumes a longer recovery period. Management forecasts reflect a range of downside scenarios including the Exhibitions business continuing to be impacted by Covid-19 related restrictions throughout 2021 with only gradual recovery in the following years. These sensitivity analyses show that no impairment charges would result from these scenarios. Refer to pages 88 and 89 for further information. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
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. 15 Intangible assets (continued) 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. 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 2019 4,025 3,724 7,749 2,946 10,695 Acquisitions 161 84 245 — 245 Additions — — — 333 333 Disposals and other (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (158 ) (116 ) (274 ) (108 ) (382 ) At 1 January 2020 4,000 3,635 7,635 3,041 10,676 Acquisitions 271 156 427 — 427 Additions — — — 318 318 Disposals and other (6 ) (64 ) (70 ) (90 ) (160 ) Exchange translation differences (124 ) (44 ) (168 ) (18 ) (186 ) At 31 December 2020 4,141 3,683 7,824 3,251 11,075 Accumulated amortisation At 1 January 2019 2,166 3,266 5,432 1,729 7,161 Charge for the year 182 112 294 249 543 Disposals and other (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (91 ) (103 ) (194 ) (71 ) (265 ) At 1 January 2020 2,229 3,218 5,447 1,777 7,224 Charge for the year* 237 139 376 319 695 Disposals and other (14 ) (56 ) (70 ) (78 ) (148 ) Exchange translation differences (75 ) (35 ) (110 ) (11 ) (121 ) At 31 December 2020 2,377 3,266 5,643 2,007 7,650 Net book amount At 31 December 2019 1,771 417 2,188 1,264 3,452 At 31 December 2020 1,764 417 2,181 1,244 3,425 *Includes impairments of acquired intangible assets of £42m in Legal and £23m in Exhibitions, and an impairment of internally developed intangible assets of £29m in Exhibitions which has been classified as exceptional. Refer to note 2 for further detail on the exceptional costs in Exhibitions. Included in content, software and other acquired intangible assets are assets with a net book value of £36m (2019: £54m) that arose on acquisitions completed prior to the adoption of IFRS that have not been allocated to specific categories of intangible assets. Internally developed intangible assets typically comprise software and systems development where an identifiable asset is created that is expected to generate future economic benefits. Included in market and customer-related intangible assets are £111m (2019: £114m) of journal titles relating to Scientific, Technical & Medical determined to have indefinite lives based on an assessment of their historical longevity and stable market positions. Indefinite lived intangibles are tested for impairment at least annually. See note 14 for details of impairment testing. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2020 | |
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 listed and unlisted securities. The fair value of listed securities is based on quoted prices in active markets. 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. 2020 2019 £m £m Investments in joint ventures 103 118 Venture capital investments 259 133 Total 362 251 The value of venture capital investments and equity investments has been determined by reference to quoted prices in active markets, other observable market inputs or, when these are not available, by reference to inputs we believe would reflect the assumptions market participants would use. Venture capital investments include a £173m investment in Palantir Technologies Inc which listed on the Nasdaq during 2020. The valuation of the investment is based on Palantir’s share price on 31 December 2020 of $23.55. 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: 2020 2019 £m £m At start of year 118 104 Share of results of joint ventures 15 41 Dividends received from joint ventures (31 ) (34 ) Additions — 24 Disposals — (11 ) Exchange translation differences 1 (6 ) At end of year 103 118 Summarised aggregate information in respect of the Group’s share of joint ventures is set out below: RELX’s share 2020 2019 £m £m Revenue 60 123 Net profit for the year 15 41 Total assets 84 112 Total liabilities (45 ) (58 ) Net assets 39 54 Goodwill 64 64 Total 103 118 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, 2020 | |
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. 2020 2019 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 213 602 815 223 640 863 Acquisitions — 3 3 1 — 1 Capital expenditure 4 39 43 5 42 47 Disposals (7 ) (111 ) (118 ) (8 ) (59 ) (67 ) Exchange translation differences (4 ) (6 ) (10 ) (8 ) (21 ) (29 ) At end of year 206 527 733 213 602 815 Accumulated depreciation At start of year 143 492 635 146 519 665 Charge for the year 9 51 60 9 49 58 Disposals (7 ) (111 ) (118 ) (7 ) (59 ) (66 ) Exchange translation differences (2 ) (4 ) (6 ) (5 ) (17 ) (22 ) At end of year 143 428 571 143 492 635 Net book amount 63 99 162 70 110 180 No depreciation is provided on freehold land of £13m (2019: £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, 2020 | |
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. 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. 18 Financial instruments (continued) 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. he 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 $2bn 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. 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 2020 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 (6,541 ) (576 ) (157 ) (737 ) (1,173 ) (737 ) (3,963 ) (7,343 ) Floating rate borrowings (307 ) (307 ) — — — — — (307 ) Lease liabilities (275 ) (103 ) (72 ) (57 ) (41 ) (17 ) (34 ) (324 ) Derivative financial liabilities Cross-currency interest rate swaps (3 ) (32 ) (8 ) (29 ) (9 ) (495 ) — (573 ) Forward foreign exchange contracts (9 ) (1,416 ) (356 ) (214 ) (24 ) — — (2,010 ) Derivative financial assets Interest rate derivatives 49 20 18 13 6 1 1 59 Cross-currency interest rate swaps 66 30 7 26 7 544 — 614 Forward foreign exchange contracts 42 1,425 370 223 25 — — 2,043 Total (6,978 ) (959 ) (198 ) (775 ) (1,209 ) (704 ) (3,966 ) (7,841 ) 18 Financial instruments (continued) 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 ) — — (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 ) The carrying amount of derivative financial liabilities comprises £nilm (2019: £4m) in relation to fair value hedges, £6m (2019: £13m) in relation to cash flow hedges and £6m (2019: £17m) not designated as hedging instruments. The carrying amount of derivative financial assets comprises £114m (2019: £50m) in relation to fair value hedges, £37m (2019: £27m) in relation to cash flow hedges and £6m (2019: £4m) not designated as hedging instruments. Other payables balance of £49m (2019: As at 31 December 2020, the Group had access to a $3,000m committed bank facility, consisting of various tranches with maturities through to July 2024, which was undrawn, and an additional committed bank facility of c.$600m maturing in April 2021, which was also undrawn. These facilities back up short-term borrowings. All borrowings that mature within the next 18 months can be covered by the facility and by utilising available cash resources. The committed bank facilities are 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 2020. 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 Group is also exposed to changes in the market value of its venture capital investments as described in note 16. 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 2020, 65% 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 £23m (2019: £31m), based on the composition of financial instruments including cash, cash equivalents, bank loans and commercial paper borrowings at 31 December 2020. A 100 basis point rise in interest rates would result in an estimated increase in net finance costs of £23m (2019: £31m). The impact on net equity of a theoretical change in interest rates as at 31 December 2020 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 (2019: £1m) and a 100 basis point increase in interest rates would increase net equity by an estimated £1m (2019: £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. 18 Financial instruments (continued) A theoretical weakening of all currencies by 10% against sterling at 31 December 2020 would decrease the carrying value of net assets, excluding net borrowings, by £803m (2019: £749m). This would be offset to a degree by a decrease in net borrowings of £713m (2019: £526m). A strengthening of all currencies by 10% against sterling at 31 December 2020 would increase the carrying value of net assets, excluding net borrowings, by £803m (2019: £749m) and increase net borrowings by £713m (2019: £526m). 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 £95m (2019: £129m). A 10% strengthening of all foreign currencies against sterling on this basis would increase net profit for the year by £95m (2019: £129m). 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 2020, cash and cash equivalents totalled £88m (2019: £138m), of which 77% (2019: 93%) was held with banks rated A-/A3 or better. 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. Expected credit losses are 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 £170m (2019: £215m); past due two to three months £83m (2019: £108m); past due four to six months £34m (2019: £39m); and past due greater than six months £46m (2019: £45m). Hedge accounting The hedging relationships that are designated under IFRS 9 – 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 2020 Principal amount £m 31 December 2019 Principal amount £m Fixed rate Floating rate €550m loan notes and €550m interest rate swaps maturing 2020 — (466 ) 2.5 % Euribor+1.1% €500m bond and €500m interest rate swaps maturing 2021 (448 ) (423 ) 0.4 % Euribor+0.3% $700m bond and $700m interest rate swaps maturing 2023 (513 ) (528 ) 3.5 % LIBOR+0.8% €500m bond and €500m interest rate swaps maturing 2024 (448 ) (423 ) 1.0 % Euribor+0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (490 ) (505 ) 1.3 % LIBOR+1.3% $200m bond and $200m interest rate swaps maturing 2027 (146 ) (151 ) 7.2 % LIBOR+5.8% (2,045 ) (2,496 ) 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 2020, 2019 and 2018 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2020 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2020 £m Carrying values £m USD debt (13 ) (25 ) 2 (36 ) (701 ) Related interest rate swaps 13 25 (2 ) 36 36 — — — — (665 ) EUR debt (39 ) (47 ) 3 (83 ) (1,467 ) Related interest rate swaps 39 47 (3 ) 83 83 — — — — (1,384 ) Total relating to USD and EUR debt (52 ) (72 ) 5 (119 ) (2,168 ) Total related interest rate swaps 52 72 (5 ) 119 119 Net gain on borrowings and related derivatives/total carrying value — — — — (2,049 ) 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)/gain 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 ) All fair value hedges were highly effective throughout the three years ended 31 December 2020. Gross borrowings as at 31 December 2020 included £15m (2019: £19m) 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-designation with a cash inflow of £62m. £3m (2019: £3m) of these fair value adjustments were amortised in the year as a reduction to finance costs. 18 Financial instruments (continued) 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 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 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 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 2018: gains/(losses) deferred 1 (7 ) (38 ) (44 ) (Losses)/gains 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 Gains/(losses) arising in 2020 4 (1 ) (9 ) (6 ) Amounts recognised in income statement — — 22 22 Hedge reserve at 31 December 2020: gians/(losses) deferred 4 (8 ) 27 23 All cash flow hedges were highly effective throughout the two years ended 31 December 2020. A deferred tax debit of £4m (2019: nil) in respect of the above gains and losses at 31 December 2020 was also deferred in the hedge reserve. Of the amounts recognised in the income statement in the year, losses of £18m (2019: £35m) were recognised in revenue, and losses of £4m (2019: nil) were recognised in finance costs. A tax credit of £5m (2019: £6m) was recognised in relation to these items. The deferred gains and losses on foreign currency cash flow hedges at 31 December 2020 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 2021 4 499 10 2022 13 392 13 2023 9 215 9 2024 1 32 1 Total 27 1,138 33 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 163. |
Inventories and pre-publication
Inventories and pre-publication costs | 12 Months Ended |
Dec. 31, 2020 | |
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. 2020 2019 £m £m Raw materials 2 2 Pre-publication costs 204 181 Finished goods 34 34 Total 240 217 |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2020 | |
Trade And Other Receivables [Abstract] | |
Trade and other receivables | 20 Trade and other receivables 2020 2019 £m £m Trade receivables 1,757 1,858 Loss allowance (99 ) (88 ) 1,658 1,770 Prepayments and accrued income 207 236 Current tax receivable 44 28 Net finance lease receivable 18 33 Total 1,927 2,067 Trade receivables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. The movements in the loss allowance during the year were as follows: 2020 2019 £m £m At start of year 88 87 Charge for the year 19 8 Trade receivables written off (8 ) (4 ) Exchange translation differences — (3 ) At end of year 99 88 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2020 | |
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. 2020 2019 £m £m Trade payables 154 173 Accruals 634 684 Social security and other taxes 174 129 Other payables 352 422 Deferred income 1,946 2,071 Total 3,260 3,479 Trade and other payables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. Materially all of the opening deferred income balance has been recognised in the reporting period. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
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. 2020 2019 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 307 — 307 779 — 779 Term debt — 4,147 4,147 716 1,792 2,508 Lease liabilities 92 183 275 93 249 342 Term debt in fair value hedging relationships 448 1,721 2,169 472 2,080 2,552 Term debt previously in fair value hedging relationships — 225 225 — 233 233 Total 847 6,276 7,123 2,060 4,354 6,414 The total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) is £4,843m (2019: £3,491m). The total fair value of term debt in fair value hedging relationships is £2,235m (2019: £2,629m). The total fair value of term debt previously in fair value hedging relationships is £270m (2019: £276m). 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 2020 2019 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 307 448 92 847 779 1,188 93 2,060 Within 1 to 2 years — 32 47 79 — 425 87 512 Within 2 to 3 years — 651 44 695 — 33 57 90 Within 3 to 4 years — 1,082 37 1,119 — 658 47 705 Within 4 to 5 years — 673 28 701 — 433 29 462 After 5 years — 3,655 27 3,682 — 2,556 29 2,585 After 1 year — 6,093 183 6,276 — 4,105 249 4,354 Total 307 6,541 275 7,123 779 5,293 342 6,414 Short-term bank loans, overdrafts and commercial paper were backed up at 31 December 2020 by a $3,000m (£2,198m) committed bank facility, consisting of tranches of: $31m maturing in 2021, Analysis by currency 2020 2019 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 228 2,751 120 3,099 309 2,915 168 3,392 £ sterling 9 — 60 69 — — 71 71 Euro 20 3,790 61 3,871 423 2,378 70 2,871 Other currencies 50 — 34 84 47 — 33 80 Total 307 6,541 275 7,123 779 5,293 342 6,414 22 Borrowings (continued) Included in the US dollar amounts for term debt above is £560m (2019: £525m) of debt denominated in euros (€600m) (2019: €600m) that was swapped into US dollars on issuance and against which there are related derivative financial instruments, which, as at 31 December 2020, had a fair value of £70m (2019: £21m). |
Lease arrangements
Lease arrangements | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 £m 2019 £m At start of year 264 263 Additions 25 62 Acquisitions 1 4 Remeasurement 12 29 Disposals (1 ) (3 ) Depreciation (77 ) (82 ) Exceptional costs in Exhibitions* (11 ) — Exchange translation differences 3 (9 ) At end of year 216 264 Lease liability 2020 £m 2019 £m Current Property (88 ) (87 ) Non-property (4 ) (6 ) Non-current Property (178 ) (242 ) Non-property (5 ) (7 ) Total (275 ) (342 ) Interest expense on the lease liabilities recognised within finance costs was £12m (2019: £15m; 2018: £14m). As at 31 December 2020, RELX was committed to leases with future cash outflows totalling £9m (31 December 2019: £9m) which had not yet commenced and as such are not accounted for as a liability as at 31 December 2020. 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: 2020 £m 2019 £m Net finance lease receivable 18 33 Short-term and low-value lease expenses have been included in note 3. 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, 2020 | |
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 2020 2019 No. of shares £m No. of shares £m At start of year 1,980,802,659 286 2,011,043,101 290 Issue of ordinary shares 1,496,653 — 3,059,558 1 Issue of bonus share — — 1 — Cancellation of shares — — (33,300,001 ) (5 ) At end of year 1,982,299,312 286 1,980,802,659 286 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. NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2020 Shares in issue net of treasury shares (millions) 2019 Shares in issue net of treasury shares (millions) RELX PLC At start of year 1,980.8 (49.0 ) 1,931.8 1,961.9 Issue of ordinary shares 1.5 — 1.5 3.1 Repurchase of ordinary shares — (7.8 ) (7.8 ) (33.5 ) Net release/(purchase) of shares by the Employee Benefit Trust — 0.5 0.5 0.4 At end of year 1,982.3 (56.3 ) 1,926.0 1,931.9 * At 31 December 2020 the total shares in issue net of treasury shares is 1,926,018,680 (2019: 1,931,782,622). During the year, RELX PLC repurchased 7.8m (2019: 33.5m; 2018: 26.9m) RELX PLC ordinary shares for an average price of 1,918p; these shares are held in treasury. The total consideration for the RELX PLC repurchases was £150m (2019: £600m). 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 1.8m shares for a total cost of £37m (2019: £37m; 2018: £43m). At 31 December 2020, shares held by the Employee Benefit Trust were £97m (2019: £94m; 2018: £90m) 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 2020, RELX PLC shares held in treasury related to 6,192,953 (2019: 6,753,010; 2018: 7,130,366) RELX PLC ordinary shares held by the Employee Benefit Trust; and 50,087,679 (2019: 42,267,027; 2018: 42,023,020) RELX PLC ordinary shares held by the parent company. No RELX PLC ordinary shares held in treasury were cancelled in 2020 (2019: 33.3m). |
Other reserves
Other reserves | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Other Reserves [Abstract] | |
Other reserves | 25 Other reserves Hedge Other reserve reserves Total Total 2020 2020 2020 2019 £m £m £m £m At start of year 7 972 979 984 Profit attributable to RELX PLC shareholders — 1,224 1,224 1,505 Dividends paid — (880 ) (880 ) (842 ) Actuarial losses on defined benefit pension schemes — (155 ) (155 ) (137 ) Fair value movements on cash flow hedges (6 ) — (6 ) 16 Transfer to net profit from cash flow hedge reserve 22 — 22 35 Tax recognised in other comprehensive income (4 ) 39 35 15 Increase in share based remuneration reserve (net of tax) — 27 27 33 Issue of ordinary shares, net of expenses — — — — Bonus issue of ordinary share — — — (4,000 ) Cancellation of bonus share — — — 4,000 Cancellation of shares — — — (499 ) Settlement of share awards — (34 ) (34 ) (33 ) Put option — — — (103 ) Disposal of non-controlling interests — 2 2 5 At end of year 19 1,195 1,214 979 Other reserves principally comprise retained earnings and the share based remuneration reserve. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2020 | |
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 nil (2019: £4m; 2018: £3m) and the rendering and receiving of goods and services of £0.1m (2019: £0.1m; 2018: £0.1m). As at 31 December 2020, amounts owed by joint ventures were £0.8m (2019: £5m; 2018: £2m) and amounts due to joint ventures were £0.4m (2019: £0.5m; 2018: £0.9m). 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 2020 2019 2018 £m £m £m Salaries, other short-term employee benefits and non-executive fees 6 7 7 Post-employment benefits 1 1 1 Share based remuneration* 1 7 7 Total 8 15 15 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 2020 2,034 99 2,623 595 687 6,038 2019 1,984 101 3,038 7,343 725 13,191 2018 1,935 99 3,033 7,003 741 12,811 * 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 95 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 2020 2019 2018 £’000 £’000 £’000 Fees and benefits 1,558 1,569 1,634 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 2020 to former Directors (2019: nil; 2018: nil). 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 2020 were nil (2019: nil; 2018: nil). |
Exchange rates
Exchange rates | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 2019 2018 2020 2019 Euro to sterling 1.12 1.14 1.13 1.12 1.18 US dollar to sterling 1.28 1.28 1.34 1.37 1.33 |
Approval of financial statement
Approval of financial statements | 12 Months Ended |
Dec. 31, 2020 | |
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 10 February 2021. |
Related undertakings
Related undertakings | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
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 Emailage Pty Ltd Preference 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 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 F4F Europe NV/SA Ordinary BEL2 LexisNexis BVBA Ordinary BEL1 Brazil Elsevier Editora Ltda Quotas BRA1 Emailage Informática Ltda Quotas BRA8 Fircosoft Brasil Consultoria e Servicos de Informatica Ltda Quotas BRA2 LexisNexis Informações e Sistemas Empresariais Ltda Quotas BRA6 LexisNexis Serviços de Análise de Risco Ltda Quotas BRA7 MLex Brasil Midia Mercadologica Ltda Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas BRA3 SST Software do Brasil Ltda Quotas BRA5 Canada LexisNexis Canada Inc Class B Voting CAN1 RELX Canada Ltd Common shares CAN3 Science-Metrix Inc Common shares CAN3 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 (Guangzhou) 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 CHN17 Reed Business Information (Shanghai) Co Ltd Registered Captial CHN16 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 CHN15 Reed Exhibitions (Shanghai) Co., Ltd Registered Capital CHN12 Reed Huabai Exhibitions (Beijing) Co., Ltd (51%) Registered Capital CHN4 Reed Huabo Exhibitions (Shenzhen) Co., Ltd (65%) Registered Capital CHN11 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 CHN11 Shanghai Datong Medical Information Technology Co., Ltd Registered Capital CHN13 Shanghai SinoReal Exhibitions Co., Ltd (27.5%) Registered Capital CHN14 Company name Share class Reg office 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 Ordinary FRA1 Elsevier Masson SAS Ordinary 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 SA Ordinary FRA3 LexisNexis Business Information Solutions Holding SA Ordinary FRA5 LexisNexis International Development & Services SAS 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 SA Registered capital FRA6 RELX France Services SAS Registered capital FRA8 SAFI SA (50%) Ordinary FRA7 Germany Elsevier GmbH Registered Capital DEU3 Elsevier Information Systems GmbH Registered Capital DEU2 LexisNexis GmbH Registered Capital DEU4 PatentSight GmbH Registered Capital DEU6 Reed Exhibitions (Germany) GmbH Registered Capital DEU4 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 RELX Deutschland GmbH Registered Capital DEU1 Tschach Solutions GmbH Ordinary DEU5 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 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 Reed Manch Exhibitions Private Ltd (70%) Ordinary IND4 Reed Triune Exhibitions Private Ltd (72%) Ordinary IND6 RELX India Private Ltd Ordinary IND1 29 Related undertakings (continued) Company name Share class Reg office Indonesia PT Reed Exhibitions Indonesia (70%) Class A IDN1 Class B PT RELX Information Analytics Indonesia Ordinary IDN2 Ireland Elsevier Services Ireland Ltd Ordinary IRL2 Emailage International Ltd Ordinary IRL4 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 MYS2 Reed Exhibitions Sdn Bhd Ordinary MYS1 Macau Reed Exhibitions Macau Ltd Ordinary MAC1 Mexico Emailage MCA, SA de CV Ordinary MEX2 Masson-Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Ordinary MEX1 New Zealand LexisNexis NZ Ltd Ordinary NZL1 Philippines Reed Elsevier Shared Services (Philippines) Inc. Common Shares PHL1 Poland AI Digital Contracts Sp. z.o.o. (75%) Ordinary POL1 Elsevier Sp. z.o.o. Ordinary POL2 Russia Elsevier OOO Participation Shares RUS1 LexisNexis OOO Registered Capital RUS1 Real Estate Events Direct OOO (80%) Ordinary RUS2 RELX OOO Ordinary RUS1 3D4Medical OOO Ordinary RUS3 Share Reg Company name class office Saudi Arabia Reed Sunaidi Exhibitions LLC(50%) Ordinary SAU1 Singapore Elsevier (Singapore) Pte Ltd Ordinary SGP1 Emailage Pte. Ltd Ordinary SGP5 Lexis-Nexis Philippines Pte Ltd (75%) Ordinary B SGP2 Preference shares Mack Brooks Asia Pte Ltd Ordinary SGP4 Reed Business Information Pte Ltd Ordinary SGP3 RE (HAPL) Pte Ltd Ordinary SGP1 RELX (Singapore) Pte. Ltd Ordinary SGP2 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 (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis Academic (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%) Ordinary 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 SL Participations ESP1 Switzerland Fircosoft Schweiz GmbH Ordinary CHE2 RELX Swiss Holdings SA Ordinary CHE1 Taiwan Elsevier Taiwan LLC Ordinary TWN1 Thailand MackBrooks Exhibitions Asia Ltd (49%) Ordinary THA3 Reed Tradex Company Ltd (49%) Ordinary THA1 RELX Holding (Thailand) Co., Ltd Ordinary THA2 RELX Information Analytics (Thailand) Co., Ltd Ordinary THA4 The Netherlands AGRM Solutions C.V. Partnership Interest NLD1 Elsevier B.V. Ordinary NLD1 ICIS Benchmarking Europe B.V Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LexisNexis Univentio B.V. Ordinary NLD2 LNRS Data Services BV Ordinary NLD1 Misset Uitgeverij B.V.(49%) Ordinary NLD3 One Business B.V. (33%) Registered Capital NLD4 RELX Employment Company 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 Turkey Elsevier STM Bilgi Hizmetleri Limited Şirketi Ordinary TUR1 Mack Brooks Fuarcilik A.S Registered Capital TUR3 Reed Tüyap Fuarcilik A.Ş.(50%) A Ordinary TUR2 B Ordinary 29 Related undertakings (continued) Share Reg Company name class office United Kingdom Apply Financial Ltd Ordinary GBR2 Bradfield Brett Holdings Ltd 7 1/2% Preferred GBR1 Income, Ordinary Butterworths Ltd Ordinary GBR4 Cordery Ltd (71%) Ordinary GBR4 Cordery Compliance Ltd (71%) Ordinary GBR4 Crediva Ltd Ordinary GBR5 Dew Events Ltd Ordinary GBR3 Digital Foundry Network (50%) Ordinary GBR3 Drayton Legal Recoveries Ltd Ordinary GBR6 E & P Events LLP (50%) No Shares GBR3 Elsevier Ltd Ordinary GBR7 Elsevier Life Sciences IP Ltd Ordinary GBR7 Emailage Ltd Ordinary GBR5 Fastener Fairs Ltd Ordinary, GBR3 Ordinary-A, Ordinary-B Gamer Events Ltd Ordinary GBR3 Gamer Network Ltd Ordinary, A Ordinary, GBR3 B Ordinary, C Ordinary, D Ordinary Imbibe Media Ltd Ordinary GBR3 Insurance Initiatives Ltd Ordinary GBR8 Legend Exhibitions Ltd Ordinary GBR3 LexisNexis Risk Solutions UK Ltd Ordinary GBR5 LNRS Data Services HoldingsLtd Ordinary GBR1 LNRS Data Services Ltd Ordinary GBR2 Mack Brooks Events Ltd Ordinary GBR3 Mack-Brooks Exhibitions Ltd 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 GBR3 MCM Expo Ltd Ordinary GBR3 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 (EPS) Ltd Ordinary GBR1 RE (HPL) Ltd Ordinary GBR1 RE (RCB) Ltd Ordinary GBR1 RE Secretaries Ltd Ordinary GBR1 RE (SOE) Ltd Ordinary GBR3 Reed Business Information Ltd Ordinary GBR2 Reed Elsevier (UIG) Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR3 Reed Exhibitions Ltd Ordinary GBR3 Reed Nominees 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 RELX Overseas Holdings Ltd Ordinary GBR1 REV Venture Partners Ltd Ordinary GBR1 SciBite Ltd A Ordinary, B Ordinary, C Ordinary BGR13 Snowflake Software Ordinary GBR2 Symbiotic Technologies Operations Ltd Ordinary GBR9 Tracesmart Ltd Ordinary GBR5 Wunelli Ltd Ordinary GBR11 Share Reg Company name class office United States Accuity Asset Verification Services Inc. Common Stock USA1 Accuity Inc. Common Stock USA1 Altiris, Inc. Common Stock USA1 American Textile Machinery Exhibitions International Inc. (40%) Common Stock USA3 Aries Systems Corporation Common Stock USA3 Chemical Data, LLC Membership Interest USA3 Derman, Inc. Common Stock USA4 Dunlap-Hanna Publishers (50%) Partnership Interest USA7 Elsevier Holdings Inc. Common Stock USA3 Elsevier Inc. Common Stock USA3 Elsevier Medical Information LLC Membership Interest USA3 Elsevier STM Inc. Common Stock USA3 Emailage Corporation Common Stock USA12 Enclarity, Inc. Common Stock USA2 Gaming Business Asia LLC (50%) Membership Interest USA3 Health Market Science, Inc. Common Stock USA2 ID Analytics LLC Membership Interest USA1 IDG-RBI China Publishers LLC (50%) Membership Interest 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 LNRS Data Services Inc. Common Stock USA5 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 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 Stock USA4 SAFI Americas LLC (50%) Membership Interest USA3 SageStream LLC Membership Interest USA1 SciBite Inc. Common Stock USA3 Shadow Health, Inc. Common Stock USA3 Shadow Holding Ventures, Inc. Common Stock 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 Stock USA2 World Compliance, Inc. Common Stock USA4 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 da Assembleia no 100, 6th Floor, RJ Centro, Rio de Janiero, 20011-904, Brazil 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, 01310-300,Brazil BRA5: Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200,Brazil BRA6: Rua Bela Cintra no. 1200, 5th floor, Sâo Paulo, 01415-002, Brazil BRA7: Alameda Rio Negro, 161 Alphaville Industrial, Barueri SP 06.455-000, Brazil BRA8: Rua Alvaro Anes 46, 3 Andar, Sâo Paulo, 05421-010, 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,M5V 3B1, 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, CHN11: Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China CHN12: Room 304, Sanlian Building, No.8, Huajing Road, Pudong District, Shanghai, 200070, China CHN13: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm,Chongming County, Shanghai Municipality CHN14: FL2, No.979, Yunhan Road, Nicheng Town, Pudong New Area CHN15: Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New Area, Shanghai CHN16: 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China CHN17: 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 UAE2: Al Emirates 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: Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany DEU3: Hackerbrücke 6, 80335, Munich, Germany DEU4: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU5: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany DEU6: 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 , Karnataka, 560025, India IND6: #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India Indonesia IDN1: Menara Citicon Level 8. Unit 8011 & 8012 Jl. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia IDN2: Gedung World Trade Center, 3 LT 20 Spaces JL Jend Sudirman Kav 29-31 RT/RW 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 IRL4: 6th Floor, South Bank House, Barrow Street, Dublin 4, 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 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 29 Related undertakings (continued) Registered offices Malaysia MYS1: 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia MYS:2 Suite 29-1, Level 29, Vertical Corporate, Tower B, Avenue 10, The Vertical, 59200 Bangsar South City, Kuala Lumpur, Malaysia Mexico MEX1: Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México MEX2: DVNA Del Valle-Nunez y Asociados, Goldsmith No 37 Desp 803, Col Planco Chapultepe, Ciudad de Viver, 11.560,México Macau MAC1: Rua De Xangai, No. 175 Edif. Associacao Comercial de Macau, 11 Andar, Bloco K, Macau 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: Sw. Antoniego 2/4 50-073, Wroc£aw,Poland POL2: Natpoll Building, ul. Migdalowa 4/59, 02-796, Warsaw, Poland Russia RUS1: 2-y Syromyatnichesky per.1, Delta Plaza business center, 105120, Moscow, Russian Federation RUS2: Petrozavodskaya street 28/4, Building VI, room 2, 125475, Moscow, Russian RUS3: Krasnykh Federation 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 Registered offices 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 The Netherlands NLD1: Radarweg 29, 1043 NX Amsterdam, Netherlands NLD2: Galileiweg 8, 2333 BD Leiden, Netherlands NLD3: Prins Hendrikstraat 17, 7001GK Doetinchem NLD4: Spaklerweg 53, 1114 AE Amsterdam-Duivendrecht Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Şişi-Maslak, Istanbul, Turkey TUR2: E - 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece ,Istanbul, 34500, TUR3: Fulya Turkey Mah. Hakkı Yeten Cad. No:10/C, Selenium Plaza Kat:5,6 Fulya, Beşiktaş 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: Third Floor, City Buildings, Carrington Street, Nottingham, NG1 7FG 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: Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, England, CB10 1DR 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 Vietnam VIE1: 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City, Vietnam |
5 year summary
5 year summary | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Financial Information [Abstract] | |
5 year summary | 5 year summary 2020 2019 2018 2017 2016 Note £m £m £m £m £m RELX consolidated financial information Revenue 7,110 7,874 7,492 7,341 6,889 Reported operating profit 1,525 2,101 1,964 1,905 1,708 Adjusted operating profit 1 2,076 2,491 2,346 2,284 2,114 Reported net profit attributable to RELX PLC shareholders 1,224 1,505 1,422 1,648 1,150 Adjusted net profit attributable to RELX PLC shareholders 1 1,543 1,808 1,674 1,620 1,473 RELX PLC financial information Reported earnings per ordinary share (pence) 63.5p 77.4p 71.9p 81.6p 55.8p Adjusted earnings per ordinary share (pence) 80.1p 93.0p 84.7p 80.2p 71.4p Dividend per ordinary share (pence) 2 47.0 p 45.7p 42.1p 39.4p 35.95p (1) Adjusted figures are presented as additional performance measures used by management. A reconciliation of the adjusted measures to the comparable GAAP measures can be found on page 188. Adjusted measures are stated before amortisation of acquired intangible assets, the net financing cost on defined benefit pension schemes and acquisition-related items, exceptional tax credits, exceptional costs in the Exhibitions business in 2020 and in respect of attributable net profit, reflect a tax rate that excludes the effect of movements in deferred taxation assets and liabilities that are not expected to crystallise in the near term and includes the benefit of tax amortisation where available on acquired goodwill and intangible assets. Acquisition-related financing costs and profit and loss from disposal gains and losses and other non-operating items are also excluded from the adjusted figures. (2) Dividend per ordinary share is based on the interim dividend and proposed final dividend for the relevant year. |
Basis of preparation and acco_2
Basis of preparation and accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020. |
Accounting policies | Accounting policies The Group’s consolidated financial statements are prepared in accordance with International Accounting Standards in conformity with the requirements of the Companies Act 2006 and International Financial Reporting Standards (IFRS) adopted pursuant to Regulation (EC) No 1606/2002 as it applies in 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 2019. 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 162 to 167. 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 162. |
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. |
Standards and amendments effective for the year | Standards and amendments effective for the year The interpretations and amendments to IFRS effective for 2020 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. |
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 188. |
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. Our subscription and Exhibition related revenue streams require payment in advance of the service being provided. Payment terms offered to customers are in line with the standard in the markets and geographies we operate in, and contracts do not contain significant financing components. Contracts for our transactional electronic revenue streams generally have payments that vary with volume of usage. Other than that, our contracts do not involve variable consideration. 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. |
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 | 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 2020, 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, ▪ 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. |
Earnings per share accounting policy | 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. |
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. |
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. |
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 listed and unlisted securities. The fair value of listed securities is based on quoted prices in active markets. 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. |
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. 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.) |
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. |
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. |
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. |
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. |
Revenue and segment analysis (T
Revenue and segment analysis (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Operating Segments [Abstract] | |
Summary of Analysis by Business Segment | ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2020 £m 2019 £m 2018 £m 2020 £m 2019 £m 2018 £m Scientific, Technical & Medical 2,692 2,637 2,538 1,021 982 942 Risk 2,417 2,316 2,117 894 853 776 Legal 1,639 1,652 1,618 330 330 320 Exhibitions 362 1,269 1,219 (164 ) 331 313 Sub-total 7,110 7,874 7,492 2,081 2,496 2,351 Unallocated items — — — (5 ) (5 ) (5 ) Total 7,110 7,874 7,492 2,076 2,491 2,346 |
Summary of Classification of Revenue | 2020 Scientific, Technical & Medical Risk Legal Exhibitions Total Revenue by geographical market North America 1,224 1,921 1,119 43 4,307 Europe* 621 327 338 83 1,369 Rest of world 847 169 182 236 1,434 Total revenue 2,692 2,417 1,639 362 7,110 Revenue by format Electronic 2,326 2,387 1,422 44 6,179 Face-to-face 1 19 7 318 345 365 11 210 — 586 Total revenue 2,692 2,417 1,639 362 7,110 Revenue by type Subscriptions 2,048 944 1,287 — 4,279 Transactional 605 1,469 348 362 2,784 Advertising 39 4 4 — 47 Total revenue 2,692 2,417 1,639 362 7,110 * Europe includes revenue of £464m from the United Kingdom ( 2019 Scientific, Technical & Medical Risk 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) 2018 Scientific, Technical & Medical Risk 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 |
Summary of Analysis of Revenue by Geographical Origin | ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2020 2019 2018 £m £m £m North America 4,192 4,308 4,013 Europe 2,436 2,832 2,790 Rest of world 482 734 689 Total 7,110 7,874 7,492 |
Summary of Analysis by Business Segment Expenditure | ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and intangible assets Capital expenditure additions Amortisation of acquired intangible assets Depreciation and other amortization 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 £m £m £m £m £m £m £m £m £m £m £m £m Scientific, Technical & Medical 169 65 106 94 104 100 65 62 58 120 109 109 Risk 822 47 852 93 96 92 192 170 161 98 89 73 Legal — 139 30 153 155 145 68 24 33 176 150 147 Exhibitions 6 251 61 24 26 28 51 39 36 73 41 35 Total 997 502 1,049 364 381 365 376 295 288 467 389 364 |
Summary of Analysis of Non-current Assets by Geographical Location | ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION 2020 2019 2018 £m £m £m North America 8,940 8,365 8,692 Europe 2,058 2,156 1,996 Rest of world 418 481 461 Total 11,416 11,002 11,149 |
Summary of Reconciliation of Operating Profit to Adjusted Operating Profit | RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2020 2019 2018 £m £m £m Operating profit 1,525 2,101 1,964 Adjustments: Amortisation of acquired intangible assets 376 295 288 Exceptional costs in Exhibitions 183 — — Acquisition-related items (12 ) 84 84 Reclassification of tax in joint ventures 5 12 11 Reclassification of finance income in joint ventures (1 ) (1 ) (1 ) Adjusted operating profit 2,076 2,491 2,346 |
Operating profit (Tables)
Operating profit (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Operating Profit [Abstract] | |
Disclosure of Detailed Information About Operating Profit | Operating profit is stated after charging/(crediting) the following: 2020 2019 2018 Note £m £m £m Staff costs Wages and salaries 2,173 2,116 1,959 Social security costs 232 230 215 Pensions 6 125 120 135 Share based remuneration 25 32 41 Total staff costs 2,555 2,498 2,350 Depreciation and amortisation Amortisation of acquired intangible assets 15 376 294 287 Share of joint ventures’ amortisation of acquired intangible assets — 1 1 Amortisation of internally developed intangible assets 15 319 249 225 Depreciation of property, plant and equipment 17 60 58 62 Depreciation of right-of-use assets 88 82 77 Total depreciation and amortisation 843 684 652 Other expenses and income Cost of sales including pre-publication costs and inventory expenses 2,487 2,755 2,638 Short-term and low value lease expenses 21 20 18 Operating lease rentals income (1 ) (1 ) (3 ) |
Auditor's remuneration (Tables)
Auditor's remuneration (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Auditors Remuneration [Abstract] | |
Disclosure of Detailed Information About Auditors' Remuneration | 2020 2019 2018 £m £m £m Auditor’s remuneration Payable to the auditors of RELX PLC 0.8 0.8 0.9 Payable to the auditors of the Group’s subsidiaries 7.8 7.8 6.5 Audit services 8.6 8.6 7.4 Audit-related assurance services 0.8 0.6 0.9 Total audit and audit-related assurance services 9.4 9.2 8.3 Other services: Due diligence and other transaction-related services — 0.1 2.7 Total non-audit related services — 0.1 2.7 Total auditor’s remuneration 9.4 9.3 11.0 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. 2020 audit related assurance services included no fees for se |
Personnel (Tables)
Personnel (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 2019 2018 2020 2019 2018 Business segment Scientific, Technical & Medical 8,600 8,100 7,900 8,300 8,000 7,700 Risk 9,700 9,100 8,700 9,600 9,000 8,600 Legal 10,400 10,600 10,500 10,500 10,600 10,600 Exhibitions 3,700 4,600 4,200 4,200 4,400 4,100 Sub-total 32,400 32,400 31,300 32,600 32,000 31,000 Corporate/shared functions 800 800 800 800 800 800 Total 33,200 33,200 32,100 33,400 32,800 31,800 Geographical location North America 14,200 14,100 13,800 14,200 14,000 13,700 Europe 9,500 9,500 9,200 9,600 9,400 9,200 Rest of world 9,500 9,600 9,100 9,600 9,400 8,900 Total 33,200 33,200 32,100 33,400 32,800 31,800 |
Pension schemes (Tables)
Pension schemes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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: 2020 2019 2018 £m £m £m Defined benefit pension expense 11 11 47 Defined contribution pension expense 114 109 95 Total 125 120 142 |
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: 2020 2019 2018 UK US Total UK US Total UK US Total £m £m £m £m £m £m £m £m £m Service cost 21 3 24 21 3 24 27 9 36 Settlement and past service (credits)/cost — (13 ) (13 ) (8 ) (5 ) (13 ) 11 — 11 Defined benefit pension expense 21 (10 ) 11 13 (2 ) 11 38 9 47 Net interest on net defined benefit obligation 9 1 10 9 3 12 6 3 9 Net defined benefit pension expense 30 (9 ) 21 22 1 23 44 12 56 |
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 2020 2019 2018 UK US UK US UK US Discount rate 1.45 % 2.45 % 2.05 % 3.25 % 2.85 % 4.20 % Inflation 2.80 % 2.50 % 2.95 % 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 2020 Male average life expectancy Female average life expectancy UK US UK US Member currently aged 60 years 86 86 89 88 Member currently aged 45 years 87 86 90 88 |
Amounts Recognised in the Statement of Financial Position in Respect of Defined Benefit Pension Schemes | 6 Pension schemes (continued) 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: 2020 2019 UK US Total UK US Total £m £m £m £m £m £m Defined benefit obligation At start of year (4,251 ) (1,018 ) (5,269 ) (3,772 ) (1,040 ) (4,812 ) Service cost (21 ) (3 ) (24 ) (21 ) (3 ) (24 ) Past service credits — 13 13 8 5 13 Interest on pension scheme liabilities (85 ) (31 ) (116 ) (104 ) (42 ) (146 ) Actuarial loss on financial assumptions (492 ) (99 ) (591 ) (495 ) (116 ) (611 ) Actuarial gain/(loss) arising from experience assumptions 60 (13 ) 47 22 (5 ) 17 Contributions by employees (8 ) — (8 ) (9 ) — (9 ) Liabilities transferred on settlement — — — — 65 65 Benefits paid 129 56 185 120 77 197 Exchange translation differences 0 33 33 — 41 41 At end of year (4,668 ) (1,062 ) (5,730 ) (4,251 ) (1,018 ) (5,269 ) Fair value of scheme assets At start of year 3,767 995 4,762 3,413 966 4,379 Interest income on plan assets 76 30 106 95 39 134 Return on assets excluding amounts included in interest income 291 135 426 304 166 470 Contributions by employer 63 7 70 66 6 72 Contributions by employees 8 — 8 9 — 9 Assets transferred on settlement — — — — (65 ) (65 ) Benefits paid (129 ) (56 ) (185 ) (120 ) (77 ) (197 ) Exchange translation differences — (34 ) (34 ) — (40 ) (40 ) At end of year 4,076 1,077 5,153 3,767 995 4,762 Opening net deficit (484 ) (23 ) (507 ) (359 ) (74 ) (433 ) Service cost (21 ) (3 ) (24 ) (21 ) (3 ) (24 ) Net interest on net defined benefit obligation (9 ) (1 ) (10 ) (9 ) (3 ) (12 ) Settlement and past service credits — 13 13 8 5 13 Contributions by employer 63 7 70 66 6 72 Actuarial (losses)/gains (141 ) 23 (118 ) (169 ) 45 (124 ) Exchange translation differences — (1 ) (1 ) — 1 1 Net pension obligation (592 ) 15 (577 ) (484 ) (23 ) (507 ) Impact of asset ceiling — (47 ) (47 ) — (13 ) (13 ) Overall net pension obligation (592 ) (32 ) (624 ) (484 ) (36 ) (520 ) |
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 Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2020 2019 £m £m Net pension asset recognised 47 45 Net pension obligation (671 ) (565 ) Overall net pension obligation (624 ) (520 ) |
Amounts Recognised in Statement of Comprehensive Income | 6 Pension schemes (continued) Amounts recognised in the statement of comprehensive income are set out below: 2020 2019 2018 £m £m £m Gains and losses arising during the year: Experience gains on scheme liabilities 47 17 6 Experience gains/(losses) on scheme assets 426 470 (273 ) Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates (671 ) (743 ) 242 – inflation 127 142 — – other actuarial assumptions (47 ) (10 ) (66 ) (118 ) (124 ) (91 ) Net cumulative losses at start of year (828 ) (704 ) (613 ) Net cumulative losses at end of year (946 ) (828 ) (704 ) |
Summary of Fair Value of Scheme Assets | The major categories and fair values of scheme assets at the end of the reporting period are as follows: FAIR VALUE OF SCHEME ASSETS 2020 2019 UK US Total UK US Total £m £m £m £m £m £m Equities 1,563 10 1,573 1,358 126 1,484 Liability matching assets 1,499 1,052 2,551 1,414 850 2,264 Property funds and ground leases 706 — 706 715 — 715 Direct lending 204 — 204 182 — 182 Cash and cash equivalents 95 12 107 75 13 88 Other 9 3 12 23 6 29 Total 4,076 1,077 5,153 3,767 995 4,762 |
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 257 Increase/decrease of 0.25% in the expected inflation rate 161 Increase/decrease of one year in assumed life expectancy 216 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Net Finance Costs [Abstract] | |
Summary of Net Finance Costs | 2020 2019 2018 £m £m £m Interest on short-term bank loans, overdrafts and commercial paper (17 ) (20 ) (22 ) Interest on term debt (122 ) (266 ) (161 ) Interest on lease liabilities (12 ) (15 ) (14 ) Total borrowing costs (151 ) (301 ) (197 ) Losses on loans and derivatives not designated as hedges (13 ) — (10 ) Fair value losses on designated fair value hedge relationships — — (1 ) Net financing charge on defined benefit pension schemes and other (11 ) (13 ) (9 ) Finance costs (175 ) (314 ) (217 ) Interest on bank deposits 2 3 4 Interest income on net finance lease receivables 1 2 2 Fair value gains on designated fair value hedge relationships — 1 — Gains on loans and derivatives not designated as hedges — 3 — Finance income 3 9 6 Net finance costs (172 ) (305 ) (211 ) |
Disposals and other non-opera_2
Disposals and other non-operating items (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |
Summary of Disposals and Other Non-operating Items | 2020 2019 2018 £m £m £m Revaluation of investments 151 25 (11 ) (Loss)/gain on disposal of businesses and assets held for sale (21 ) 26 (22 ) Net gain/(loss) on disposals and other non-operating items 130 51 (33 ) The revaluation of investments relates mainly to venture fund investments further details of which are provided in Note 16. |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Major Components Of Tax Expense Income [Abstract] | |
Summary of Tax Expense | 2020 2019 2018 £m £m £m Current tax United Kingdom (80 ) (141 ) (71 ) Rest of world (184 ) (241 ) (226 ) Total current tax charge (264 ) (382 ) (297 ) Deferred tax (11 ) 44 5 Tax expense (275 ) (338 ) (292 ) |
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: 2020 2019 2018 £m % £m % £m % Profit before tax 1,483 1,847 1,720 Tax at average applicable rates (331 ) 22.3 % (418 ) 22.6 % (361 ) 21.0 % Tax effect of share of results of joint ventures 3 -0.2 % 10 (0.5 )% 8 (0.5 )% Expenses not deductible for tax purposes 18 -1.2 % (3 ) 0.2 % (24 ) 1.4 % Non-deductible costs of share based remuneration (2 ) 0.1 % (1 ) 0.1 % (1 ) 0.1 % Non-deductible disposal-related gains and losses (2 ) 0.1 % 4 (0.2 )% — 0.0 % Deferred tax assets of the period not recognised (19 ) 1.3 % (15 ) 0.8 % (24 ) 1.4 % Change in recognition of deferred tax assets or liabilities 14 -0.9 % 12 (0.6 )% (15 ) 0.9 % Other adjustments in respect of prior periods 44 -3.0 % 73 (4.0 )% 13 (0.8 )% Exceptional tax credit — — — — 112 (6.5 )% Tax expense (275 ) 18.5 % (338 ) 18.3 % (292 ) 17.0 % |
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: 2020 2019 2018 £m £m £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes 39 23 15 Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges (4 ) (8 ) 9 Net tax credit recognised in other comprehensive income 35 15 24 Tax credit/(debit) on share based remuneration recognised directly in equity 5 6 (3 ) |
Summary of Deferred tax Assets and Liabilities | 2020 2019 £m £m Deferred tax assets 270 239 Deferred tax liabilities (665 ) (593 ) Total (395 ) (354 ) |
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 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 ) — — — — — (44 ) Exchange translation differences 6 19 14 (9 ) (3 ) (1 ) (11 ) 15 Deferred tax (liability)/asset at 1 January 2020 (150 ) (543 ) (290 ) 179 75 96 279 (354 ) Credit/(charge) to profit 51 10 1 (13 ) 20 0 (80 ) (11 ) Credit/(charge) to equity/other comprehensive income — — — — — 29 (1 ) 28 Acquisitions — (97 ) — — 6 — 1 (90 ) Exchange translation differences 1 18 6 8 (2 ) — 1 32 Deferred tax (liability)/asset at 31 December 2020 (98 ) (612 ) (283 ) 174 99 125 200 (395 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Share | EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2020 2019 2018 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 1,224 1,926.2 63.5p 1,505 1,943.5 77.4p 1,422 1,977.2 71.9p Diluted earnings per share 1,224 1,937.8 63.2p 1,505 1,956.2 76.9p 1,422 1,990.8 71.4p 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 2020 2019 2018 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 1,543 1,926.2 80.1p 1,808 1,943.5 93.0p 1,674 1,977.2 84.7p |
Summary of Reconciliation of Adjusted Net Profit Attributable to Parent | RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC SHAREHOLDERS 2020 Pre tax adjustment £m Tax on adjustment £m Total £m Net profit attributable to RELX PLC shareholders 1,224 Adjustments: Amortisation of acquired intangible assets 360 35 395 Other deferred tax credits from intangible assets* — (78 ) (78 ) Acquisition-related items (12 ) (6 ) (18 ) Net interest on net defined benefit pension obligation and other 11 (2 ) 9 Disposals and other non-operating items (130 ) 3 (127 ) Exceptional expense in Exhibitions 183 (45 ) 138 Adjusted net profit attributable to RELX PLC shareholders 1,543 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. 2019 Pre tax adjustment £m Tax on adjustment £m Total £m Net profit attributable to RELX PLC shareholders 1,505 Adjustments: Amortisation of acquired intangible assets 295 26 321 Other deferred tax credits from intangible assets — (57 ) (57 ) Acquisition-related items 84 (15 ) 69 Net interest on net defined benefit pension obligation and other 13 (3 ) 10 Disposals and other non-operating items (51 ) 11 (40 ) Adjusted net profit attributable to RELX PLC shareholders 1,808 10 Earnings per share (continued) 2018 Pre tax adjustment £m Tax on adjustment £m Total £m Net profit attributable to RELX PLC shareholders 1,422 Adjustments: Amortisation of acquired intangible assets 288 34 322 Other deferred tax credits from intangible assets — (55 ) (55 ) Acquisition-related items 84 (13 ) 71 Net interest on net defined benefit pension obligation and other 9 (2 ) 7 Disposals and other non-operating items 33 (14 ) 19 Exceptional tax credit — (112 ) (112 ) Adjusted net profit attributable to RELX PLC shareholders 1,674 |
Statement of cash flows (Tables
Statement of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Schedule of Reconciliation of Profit Before Tax to Cash Generated from Operations | RECONCILIATION OF OPERATING PROFIT TO CASH GENERATED FROM OPERATIONS 2020 2019 2018 £m £m £m Operating profit 1,525 2,101 1,964 Share of results of joint ventures (15 ) (41 ) (32 ) Amortisation of acquired intangible assets 376 294 287 Amortisation of internally developed intangible assets 319 249 225 Depreciation of property, plant and equipment 60 58 62 Depreciation of right-of-use assets 88 82 77 Share based remuneration 25 32 41 Total non-cash items 868 715 692 Increase in inventories and pre-publication costs (18 ) (14 ) (7 ) Decrease/(increase) in receivables 149 (116 ) (89 ) (Decrease)/increase in payables (245 ) 79 27 Increase in working capital (114 ) (51 ) (69 ) Cash generated from operations 2,264 2,724 2,555 |
Schedule of Cash Flow on Acquisitions | CASH FLOW ON ACQUISITIONS 2020 2019 2018 Note £m £m £m Purchase of businesses 12 -864 (399 ) (919 ) Deferred payments relating to prior year acquisitions -5 (24 ) (16 ) Total -869 (423 ) (935 ) 11 Statement of cash flows (continued) |
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 2020 £m 2019 £m 2018 £m At start of year 138 (6,414 ) 52 33 (6,191 ) (6,177 ) (5,042 ) (Decrease)/increase in cash and cash equivalents (51 ) — — — (51 ) 27 1 Decrease/(increase) in short-term bank loans, overdrafts and commercial paper — 436 — — 436 (98 ) (147 ) Issuance of term debt — (2,342 ) — — (2,342 ) (729 ) (958 ) Repayment of term debt — 1,233 — — 1,233 617 211 Repayment of leases — 105 — (15 ) 90 86 81 Change in net borrowings resulting from cash flows (51 ) (568 ) — (15 ) (634 ) (97 ) (812 ) Borrowings in acquired businesses — (3 ) — — (3 ) (6 ) (12 ) Remeasurement and derecognition of leases — (8 ) — — (8 ) (28 ) (12 ) Inception of leases — (25 ) — 1 (24 ) (60 ) (28 ) Fair value and other adjustments to borrowings and related derivatives — (76 ) 72 — (4 ) (94 ) (25 ) Exchange translation differences 1 (29 ) (5 ) (1 ) (34 ) 271 (246 ) At end of year 88 (7,123 ) 119 18 (6,898 ) (6,191 ) (6,177 ) |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Business Combinations [Abstract] | |
Summary of Consideration Paid for Acquiring Assets and Liabilities | Accounting policy 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. 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 Fair value Fair value 2020 2019 2018 £m £m £m Goodwill 570 257 626 Intangible assets 427 245 423 Property, plant and equipment 3 1 5 Non current assets 1 4 12 Current assets 20 20 24 Current liabilities (24 ) (53 ) (72 ) Borrowings (3 ) (6 ) (12 ) Deferred tax (90 ) (44 ) (51 ) Net assets acquired 904 424 955 Consideration (after taking account of £29m (2019: £32m; 2018: £27m) net cash acquired) 904 424 955 Less: consideration deferred to future years (40 ) (10 ) (36 ) Less: acquisition date fair value of equity interest — (15 ) — Net cash flow 864 399 919 |
Equity dividends (Tables)
Equity dividends (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Reconciliation Of Number Of Shares Outstanding [Abstract] | |
Summary of Ordinary Dividends Paid | ORDINARY DIVIDENDS PAID IN THE YEAR 2020 2019 2018 £m £m £m RELX PLC 880 842 420 RELX NV — — 376 Total 880 842 796 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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. 2020 2019 £m £m At start of year 6,824 6,899 Acquisitions 570 257 Disposals/reclassified as held for sale (6 ) (64 ) Exchange translation differences (164 ) (268 ) At end of year 7,224 6,824 |
Summary of Breakdown of Goodwill into Cash Generating Units | GOODWILL 2020 2019 £m £m Scientific, Technical & Medical 1,669 1,594 Risk 3,546 3,186 Legal 1,395 1,428 Exhibitions 614 616 Total 7,224 6,824 |
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 2020 2019 Pre-tax discount rate Nominal long-term market growth rate Pre-tax discount rate Nominal long-term market growth rate Scientific, Technical & Medical 9.8 % 3 % 9.4 % 3 % Risk 10.6 % 3 % 10.0 % 3 % Legal 11.2 % 2 % 10.6 % 2 % Exhibitions 12.6 % 3 % 11.6 % 3 % |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2019 4,025 3,724 7,749 2,946 10,695 Acquisitions 161 84 245 — 245 Additions — — — 333 333 Disposals and other (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (158 ) (116 ) (274 ) (108 ) (382 ) At 1 January 2020 4,000 3,635 7,635 3,041 10,676 Acquisitions 271 156 427 — 427 Additions — — — 318 318 Disposals and other (6 ) (64 ) (70 ) (90 ) (160 ) Exchange translation differences (124 ) (44 ) (168 ) (18 ) (186 ) At 31 December 2020 4,141 3,683 7,824 3,251 11,075 Accumulated amortisation At 1 January 2019 2,166 3,266 5,432 1,729 7,161 Charge for the year 182 112 294 249 543 Disposals and other (28 ) (57 ) (85 ) (130 ) (215 ) Exchange translation differences (91 ) (103 ) (194 ) (71 ) (265 ) At 1 January 2020 2,229 3,218 5,447 1,777 7,224 Charge for the year* 237 139 376 319 695 Disposals and other (14 ) (56 ) (70 ) (78 ) (148 ) Exchange translation differences (75 ) (35 ) (110 ) (11 ) (121 ) At 31 December 2020 2,377 3,266 5,643 2,007 7,650 Net book amount At 31 December 2019 1,771 417 2,188 1,264 3,452 At 31 December 2020 1,764 417 2,181 1,244 3,425 *Includes impairments of acquired intangible assets of £42m in Legal and £23m in Exhibitions, and an impairment of internally developed intangible assets of £29m in Exhibitions which has been classified as exceptional. Refer to note 2 for further detail on the exceptional costs in Exhibitions. |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Investments [Abstract] | |
Summary of Investments | 2020 2019 £m £m Investments in joint ventures 103 118 Venture capital investments 259 133 Total 362 251 |
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: 2020 2019 £m £m At start of year 118 104 Share of results of joint ventures 15 41 Dividends received from joint ventures (31 ) (34 ) Additions — 24 Disposals — (11 ) Exchange translation differences 1 (6 ) At end of year 103 118 |
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 2020 2019 £m £m Revenue 60 123 Net profit for the year 15 41 Total assets 84 112 Total liabilities (45 ) (58 ) Net assets 39 54 Goodwill 64 64 Total 103 118 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Property, Plant and Equipment | 2020 2019 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 213 602 815 223 640 863 Acquisitions — 3 3 1 — 1 Capital expenditure 4 39 43 5 42 47 Disposals (7 ) (111 ) (118 ) (8 ) (59 ) (67 ) Exchange translation differences (4 ) (6 ) (10 ) (8 ) (21 ) (29 ) At end of year 206 527 733 213 602 815 Accumulated depreciation At start of year 143 492 635 146 519 665 Charge for the year 9 51 60 9 49 58 Disposals (7 ) (111 ) (118 ) (7 ) (59 ) (66 ) Exchange translation differences (2 ) (4 ) (6 ) (5 ) (17 ) (22 ) At end of year 143 428 571 143 492 635 Net book amount 63 99 162 70 110 180 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 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 (6,541 ) (576 ) (157 ) (737 ) (1,173 ) (737 ) (3,963 ) (7,343 ) Floating rate borrowings (307 ) (307 ) — — — — — (307 ) Lease liabilities (275 ) (103 ) (72 ) (57 ) (41 ) (17 ) (34 ) (324 ) Derivative financial liabilities Cross-currency interest rate swaps (3 ) (32 ) (8 ) (29 ) (9 ) (495 ) — (573 ) Forward foreign exchange contracts (9 ) (1,416 ) (356 ) (214 ) (24 ) — — (2,010 ) Derivative financial assets Interest rate derivatives 49 20 18 13 6 1 1 59 Cross-currency interest rate swaps 66 30 7 26 7 544 — 614 Forward foreign exchange contracts 42 1,425 370 223 25 — — 2,043 Total (6,978 ) (959 ) (198 ) (775 ) (1,209 ) (704 ) (3,966 ) (7,841 ) 18 Financial instruments (continued) 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 ) — — (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 ) |
Summary of Fair Value 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 2020 Principal amount £m 31 December 2019 Principal amount £m Fixed rate Floating rate €550m loan notes and €550m interest rate swaps maturing 2020 — (466 ) 2.5 % Euribor+1.1% €500m bond and €500m interest rate swaps maturing 2021 (448 ) (423 ) 0.4 % Euribor+0.3% $700m bond and $700m interest rate swaps maturing 2023 (513 ) (528 ) 3.5 % LIBOR+0.8% €500m bond and €500m interest rate swaps maturing 2024 (448 ) (423 ) 1.0 % Euribor+0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (490 ) (505 ) 1.3 % LIBOR+1.3% $200m bond and $200m interest rate swaps maturing 2027 (146 ) (151 ) 7.2 % LIBOR+5.8% (2,045 ) (2,496 ) |
Summary of Gains and Losses on the Borrowings and Related Derivatives Designated as Fair Value Hedges | 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 2020, 2019 and 2018 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2020 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2020 £m Carrying values £m USD debt (13 ) (25 ) 2 (36 ) (701 ) Related interest rate swaps 13 25 (2 ) 36 36 — — — — (665 ) EUR debt (39 ) (47 ) 3 (83 ) (1,467 ) Related interest rate swaps 39 47 (3 ) 83 83 — — — — (1,384 ) Total relating to USD and EUR debt (52 ) (72 ) 5 (119 ) (2,168 ) Total related interest rate swaps 52 72 (5 ) 119 119 Net gain on borrowings and related derivatives/total carrying value — — — — (2,049 ) 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)/gain 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 ) |
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 2018: gains/(losses) deferred 1 (7 ) (38 ) (44 ) (Losses)/gains 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 Gains/(losses) arising in 2020 4 (1 ) (9 ) (6 ) Amounts recognised in income statement — — 22 22 Hedge reserve at 31 December 2020: gians/(losses) deferred 4 (8 ) 27 23 |
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 2020 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 2021 4 499 10 2022 13 392 13 2023 9 215 9 2024 1 32 1 Total 27 1,138 33 |
Inventories and pre-publicati_2
Inventories and pre-publication costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Information About Inventories Explanatory [Abstract] | |
Summary of Inventories and Pre-Publication Costs | 2020 2019 £m £m Raw materials 2 2 Pre-publication costs 204 181 Finished goods 34 34 Total 240 217 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Trade And Other Receivables [Abstract] | |
Summary of Trade and Other Receivables | 2020 2019 £m £m Trade receivables 1,757 1,858 Loss allowance (99 ) (88 ) 1,658 1,770 Prepayments and accrued income 207 236 Current tax receivable 44 28 Net finance lease receivable 18 33 Total 1,927 2,067 |
Summary of Movements in Loss Allowance | The movements in the loss allowance during the year were as follows: 2020 2019 £m £m At start of year 88 87 Charge for the year 19 8 Trade receivables written off (8 ) (4 ) Exchange translation differences — (3 ) At end of year 99 88 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Trade And Other Payables [Abstract] | |
Summary of Trade and Other Payables | 2020 2019 £m £m Trade payables 154 173 Accruals 634 684 Social security and other taxes 174 129 Other payables 352 422 Deferred income 1,946 2,071 Total 3,260 3,479 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Borrowings By Type [Abstract] | |
Summary of types of Borrowings both Current and Non-current | 2020 2019 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 307 — 307 779 — 779 Term debt — 4,147 4,147 716 1,792 2,508 Lease liabilities 92 183 275 93 249 342 Term debt in fair value hedging relationships 448 1,721 2,169 472 2,080 2,552 Term debt previously in fair value hedging relationships — 225 225 — 233 233 Total 847 6,276 7,123 2,060 4,354 6,414 |
Summary of Repayment Years for Borrowings | Analysis by year of repayment 2020 2019 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 307 448 92 847 779 1,188 93 2,060 Within 1 to 2 years — 32 47 79 — 425 87 512 Within 2 to 3 years — 651 44 695 — 33 57 90 Within 3 to 4 years — 1,082 37 1,119 — 658 47 705 Within 4 to 5 years — 673 28 701 — 433 29 462 After 5 years — 3,655 27 3,682 — 2,556 29 2,585 After 1 year — 6,093 183 6,276 — 4,105 249 4,354 Total 307 6,541 275 7,123 779 5,293 342 6,414 |
Analysis of Borrowings by Currency | Analysis by currency 2020 2019 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 228 2,751 120 3,099 309 2,915 168 3,392 £ sterling 9 — 60 69 — — 71 71 Euro 20 3,790 61 3,871 423 2,378 70 2,871 Other currencies 50 — 34 84 47 — 33 80 Total 307 6,541 275 7,123 779 5,293 342 6,414 |
Lease arrangements (Tables)
Lease arrangements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Presentation Of Leases For Lessee [Abstract] | |
Summary of Right of Use Assets | Right-of-use assets 2020 £m 2019 £m At start of year 264 263 Additions 25 62 Acquisitions 1 4 Remeasurement 12 29 Disposals (1 ) (3 ) Depreciation (77 ) (82 ) Exceptional costs in Exhibitions* (11 ) — Exchange translation differences 3 (9 ) At end of year 216 264 |
Summary of Lease Liability | Lease liability 2020 £m 2019 £m Current Property (88 ) (87 ) Non-property (4 ) (6 ) Non-current Property (178 ) (242 ) Non-property (5 ) (7 ) Total (275 ) (342 ) |
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: 2020 £m 2019 £m Net finance lease receivable 18 33 |
Share capital, share premium _2
Share capital, share premium and shares held in treasury (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Summary of Called up Share Capital Issued and Fully Paid | RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID 2020 2019 No. of shares £m No. of shares £m At start of year 1,980,802,659 286 2,011,043,101 290 Issue of ordinary shares 1,496,653 — 3,059,558 1 Issue of bonus share — — 1 — Cancellation of shares — — (33,300,001 ) (5 ) At end of year 1,982,299,312 286 1,980,802,659 286 |
Summary of Share Capital | NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2020 Shares in issue net of treasury shares (millions) 2019 Shares in issue net of treasury shares (millions) RELX PLC At start of year 1,980.8 (49.0 ) 1,931.8 1,961.9 Issue of ordinary shares 1.5 — 1.5 3.1 Repurchase of ordinary shares — (7.8 ) (7.8 ) (33.5 ) Net release/(purchase) of shares by the Employee Benefit Trust — 0.5 0.5 0.4 At end of year 1,982.3 (56.3 ) 1,926.0 1,931.9 * At 31 December 2020 the total shares in issue net of treasury shares is 1,926,018,680 (2019: 1,931,782,622). |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Other Reserves [Abstract] | |
Summary of Other Reserves | Hedge Other reserve reserves Total Total 2020 2020 2020 2019 £m £m £m £m At start of year 7 972 979 984 Profit attributable to RELX PLC shareholders — 1,224 1,224 1,505 Dividends paid — (880 ) (880 ) (842 ) Actuarial losses on defined benefit pension schemes — (155 ) (155 ) (137 ) Fair value movements on cash flow hedges (6 ) — (6 ) 16 Transfer to net profit from cash flow hedge reserve 22 — 22 35 Tax recognised in other comprehensive income (4 ) 39 35 15 Increase in share based remuneration reserve (net of tax) — 27 27 33 Issue of ordinary shares, net of expenses — — — — Bonus issue of ordinary share — — — (4,000 ) Cancellation of bonus share — — — 4,000 Cancellation of shares — — — (499 ) Settlement of share awards — (34 ) (34 ) (33 ) Put option — — — (103 ) Disposal of non-controlling interests — 2 2 5 At end of year 19 1,195 1,214 979 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Key Management Personnel Remuneration | KEY MANAGEMENT PERSONNEL REMUNERATION 2020 2019 2018 £m £m £m Salaries, other short-term employee benefits and non-executive fees 6 7 7 Post-employment benefits 1 1 1 Share based remuneration* 1 7 7 Total 8 15 15 |
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 2020 2,034 99 2,623 595 687 6,038 2019 1,984 101 3,038 7,343 725 13,191 2018 1,935 99 3,033 7,003 741 12,811 |
Summary of Non-Executive Directors Remuneration | NON-EXECUTIVE DIRECTORS 2020 2019 2018 £’000 £’000 £’000 Fees and benefits 1,558 1,569 1,634 |
Exchange rates (Tables)
Exchange rates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 2019 2018 2020 2019 Euro to sterling 1.12 1.14 1.13 1.12 1.18 US dollar to sterling 1.28 1.28 1.34 1.37 1.33 |
Related undertakings (Tables)
Related undertakings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 Emailage Pty Ltd Preference 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 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 F4F Europe NV/SA Ordinary BEL2 LexisNexis BVBA Ordinary BEL1 Brazil Elsevier Editora Ltda Quotas BRA1 Emailage Informática Ltda Quotas BRA8 Fircosoft Brasil Consultoria e Servicos de Informatica Ltda Quotas BRA2 LexisNexis Informações e Sistemas Empresariais Ltda Quotas BRA6 LexisNexis Serviços de Análise de Risco Ltda Quotas BRA7 MLex Brasil Midia Mercadologica Ltda Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas BRA3 SST Software do Brasil Ltda Quotas BRA5 Canada LexisNexis Canada Inc Class B Voting CAN1 RELX Canada Ltd Common shares CAN3 Science-Metrix Inc Common shares CAN3 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 (Guangzhou) 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 CHN17 Reed Business Information (Shanghai) Co Ltd Registered Captial CHN16 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 CHN15 Reed Exhibitions (Shanghai) Co., Ltd Registered Capital CHN12 Reed Huabai Exhibitions (Beijing) Co., Ltd (51%) Registered Capital CHN4 Reed Huabo Exhibitions (Shenzhen) Co., Ltd (65%) Registered Capital CHN11 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 CHN11 Shanghai Datong Medical Information Technology Co., Ltd Registered Capital CHN13 Shanghai SinoReal Exhibitions Co., Ltd (27.5%) Registered Capital CHN14 Company name Share class Reg office 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 Ordinary FRA1 Elsevier Masson SAS Ordinary 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 SA Ordinary FRA3 LexisNexis Business Information Solutions Holding SA Ordinary FRA5 LexisNexis International Development & Services SAS 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 SA Registered capital FRA6 RELX France Services SAS Registered capital FRA8 SAFI SA (50%) Ordinary FRA7 Germany Elsevier GmbH Registered Capital DEU3 Elsevier Information Systems GmbH Registered Capital DEU2 LexisNexis GmbH Registered Capital DEU4 PatentSight GmbH Registered Capital DEU6 Reed Exhibitions (Germany) GmbH Registered Capital DEU4 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 RELX Deutschland GmbH Registered Capital DEU1 Tschach Solutions GmbH Ordinary DEU5 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 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 Reed Manch Exhibitions Private Ltd (70%) Ordinary IND4 Reed Triune Exhibitions Private Ltd (72%) Ordinary IND6 RELX India Private Ltd Ordinary IND1 29 Related undertakings (continued) Company name Share class Reg office Indonesia PT Reed Exhibitions Indonesia (70%) Class A IDN1 Class B PT RELX Information Analytics Indonesia Ordinary IDN2 Ireland Elsevier Services Ireland Ltd Ordinary IRL2 Emailage International Ltd Ordinary IRL4 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 MYS2 Reed Exhibitions Sdn Bhd Ordinary MYS1 Macau Reed Exhibitions Macau Ltd Ordinary MAC1 Mexico Emailage MCA, SA de CV Ordinary MEX2 Masson-Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Ordinary MEX1 New Zealand LexisNexis NZ Ltd Ordinary NZL1 Philippines Reed Elsevier Shared Services (Philippines) Inc. Common Shares PHL1 Poland AI Digital Contracts Sp. z.o.o. (75%) Ordinary POL1 Elsevier Sp. z.o.o. Ordinary POL2 Russia Elsevier OOO Participation Shares RUS1 LexisNexis OOO Registered Capital RUS1 Real Estate Events Direct OOO (80%) Ordinary RUS2 RELX OOO Ordinary RUS1 3D4Medical OOO Ordinary RUS3 Share Reg Company name class office Saudi Arabia Reed Sunaidi Exhibitions LLC(50%) Ordinary SAU1 Singapore Elsevier (Singapore) Pte Ltd Ordinary SGP1 Emailage Pte. Ltd Ordinary SGP5 Lexis-Nexis Philippines Pte Ltd (75%) Ordinary B SGP2 Preference shares Mack Brooks Asia Pte Ltd Ordinary SGP4 Reed Business Information Pte Ltd Ordinary SGP3 RE (HAPL) Pte Ltd Ordinary SGP1 RELX (Singapore) Pte. Ltd Ordinary SGP2 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 (Pty) Ltd (78%) Ordinary ZAF3 LexisNexis Academic (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%) Ordinary 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 SL Participations ESP1 Switzerland Fircosoft Schweiz GmbH Ordinary CHE2 RELX Swiss Holdings SA Ordinary CHE1 Taiwan Elsevier Taiwan LLC Ordinary TWN1 Thailand MackBrooks Exhibitions Asia Ltd (49%) Ordinary THA3 Reed Tradex Company Ltd (49%) Ordinary THA1 RELX Holding (Thailand) Co., Ltd Ordinary THA2 RELX Information Analytics (Thailand) Co., Ltd Ordinary THA4 The Netherlands AGRM Solutions C.V. Partnership Interest NLD1 Elsevier B.V. Ordinary NLD1 ICIS Benchmarking Europe B.V Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LexisNexis Univentio B.V. Ordinary NLD2 LNRS Data Services BV Ordinary NLD1 Misset Uitgeverij B.V.(49%) Ordinary NLD3 One Business B.V. (33%) Registered Capital NLD4 RELX Employment Company 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 Turkey Elsevier STM Bilgi Hizmetleri Limited Şirketi Ordinary TUR1 Mack Brooks Fuarcilik A.S Registered Capital TUR3 Reed Tüyap Fuarcilik A.Ş.(50%) A Ordinary TUR2 B Ordinary 29 Related undertakings (continued) Share Reg Company name class office United Kingdom Apply Financial Ltd Ordinary GBR2 Bradfield Brett Holdings Ltd 7 1/2% Preferred GBR1 Income, Ordinary Butterworths Ltd Ordinary GBR4 Cordery Ltd (71%) Ordinary GBR4 Cordery Compliance Ltd (71%) Ordinary GBR4 Crediva Ltd Ordinary GBR5 Dew Events Ltd Ordinary GBR3 Digital Foundry Network (50%) Ordinary GBR3 Drayton Legal Recoveries Ltd Ordinary GBR6 E & P Events LLP (50%) No Shares GBR3 Elsevier Ltd Ordinary GBR7 Elsevier Life Sciences IP Ltd Ordinary GBR7 Emailage Ltd Ordinary GBR5 Fastener Fairs Ltd Ordinary, GBR3 Ordinary-A, Ordinary-B Gamer Events Ltd Ordinary GBR3 Gamer Network Ltd Ordinary, A Ordinary, GBR3 B Ordinary, C Ordinary, D Ordinary Imbibe Media Ltd Ordinary GBR3 Insurance Initiatives Ltd Ordinary GBR8 Legend Exhibitions Ltd Ordinary GBR3 LexisNexis Risk Solutions UK Ltd Ordinary GBR5 LNRS Data Services HoldingsLtd Ordinary GBR1 LNRS Data Services Ltd Ordinary GBR2 Mack Brooks Events Ltd Ordinary GBR3 Mack-Brooks Exhibitions Ltd 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 GBR3 MCM Expo Ltd Ordinary GBR3 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 (EPS) Ltd Ordinary GBR1 RE (HPL) Ltd Ordinary GBR1 RE (RCB) Ltd Ordinary GBR1 RE Secretaries Ltd Ordinary GBR1 RE (SOE) Ltd Ordinary GBR3 Reed Business Information Ltd Ordinary GBR2 Reed Elsevier (UIG) Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR3 Reed Exhibitions Ltd Ordinary GBR3 Reed Nominees 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 RELX Overseas Holdings Ltd Ordinary GBR1 REV Venture Partners Ltd Ordinary GBR1 SciBite Ltd A Ordinary, B Ordinary, C Ordinary BGR13 Snowflake Software Ordinary GBR2 Symbiotic Technologies Operations Ltd Ordinary GBR9 Tracesmart Ltd Ordinary GBR5 Wunelli Ltd Ordinary GBR11 Share Reg Company name class office United States Accuity Asset Verification Services Inc. Common Stock USA1 Accuity Inc. Common Stock USA1 Altiris, Inc. Common Stock USA1 American Textile Machinery Exhibitions International Inc. (40%) Common Stock USA3 Aries Systems Corporation Common Stock USA3 Chemical Data, LLC Membership Interest USA3 Derman, Inc. Common Stock USA4 Dunlap-Hanna Publishers (50%) Partnership Interest USA7 Elsevier Holdings Inc. Common Stock USA3 Elsevier Inc. Common Stock USA3 Elsevier Medical Information LLC Membership Interest USA3 Elsevier STM Inc. Common Stock USA3 Emailage Corporation Common Stock USA12 Enclarity, Inc. Common Stock USA2 Gaming Business Asia LLC (50%) Membership Interest USA3 Health Market Science, Inc. Common Stock USA2 ID Analytics LLC Membership Interest USA1 IDG-RBI China Publishers LLC (50%) Membership Interest 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 LNRS Data Services Inc. Common Stock USA5 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 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 Stock USA4 SAFI Americas LLC (50%) Membership Interest USA3 SageStream LLC Membership Interest USA1 SciBite Inc. Common Stock USA3 Shadow Health, Inc. Common Stock USA3 Shadow Holding Ventures, Inc. Common Stock 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 Stock USA2 World Compliance, Inc. Common Stock USA4 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 da Assembleia no 100, 6th Floor, RJ Centro, Rio de Janiero, 20011-904, Brazil 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, 01310-300,Brazil BRA5: Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200,Brazil BRA6: Rua Bela Cintra no. 1200, 5th floor, Sâo Paulo, 01415-002, Brazil BRA7: Alameda Rio Negro, 161 Alphaville Industrial, Barueri SP 06.455-000, Brazil BRA8: Rua Alvaro Anes 46, 3 Andar, Sâo Paulo, 05421-010, 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,M5V 3B1, 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, CHN11: Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China CHN12: Room 304, Sanlian Building, No.8, Huajing Road, Pudong District, Shanghai, 200070, China CHN13: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm,Chongming County, Shanghai Municipality CHN14: FL2, No.979, Yunhan Road, Nicheng Town, Pudong New Area CHN15: Floor 2, No.979, Yunhan Road, Nicheng Town, Pudong New Area, Shanghai CHN16: 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China CHN17: 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 UAE2: Al Emirates 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: Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany DEU3: Hackerbrücke 6, 80335, Munich, Germany DEU4: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU5: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany DEU6: 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 , Karnataka, 560025, India IND6: #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India Indonesia IDN1: Menara Citicon Level 8. Unit 8011 & 8012 Jl. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia IDN2: Gedung World Trade Center, 3 LT 20 Spaces JL Jend Sudirman Kav 29-31 RT/RW 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 IRL4: 6th Floor, South Bank House, Barrow Street, Dublin 4, 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 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 29 Related undertakings (continued) Registered offices Malaysia MYS1: 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia MYS:2 Suite 29-1, Level 29, Vertical Corporate, Tower B, Avenue 10, The Vertical, 59200 Bangsar South City, Kuala Lumpur, Malaysia Mexico MEX1: Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México MEX2: DVNA Del Valle-Nunez y Asociados, Goldsmith No 37 Desp 803, Col Planco Chapultepe, Ciudad de Viver, 11.560,México Macau MAC1: Rua De Xangai, No. 175 Edif. Associacao Comercial de Macau, 11 Andar, Bloco K, Macau 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: Sw. Antoniego 2/4 50-073, Wroc£aw,Poland POL2: Natpoll Building, ul. Migdalowa 4/59, 02-796, Warsaw, Poland Russia RUS1: 2-y Syromyatnichesky per.1, Delta Plaza business center, 105120, Moscow, Russian Federation RUS2: Petrozavodskaya street 28/4, Building VI, room 2, 125475, Moscow, Russian RUS3: Krasnykh Federation 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 Registered offices 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 The Netherlands NLD1: Radarweg 29, 1043 NX Amsterdam, Netherlands NLD2: Galileiweg 8, 2333 BD Leiden, Netherlands NLD3: Prins Hendrikstraat 17, 7001GK Doetinchem NLD4: Spaklerweg 53, 1114 AE Amsterdam-Duivendrecht Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Şişi-Maslak, Istanbul, Turkey TUR2: E - 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece ,Istanbul, 34500, TUR3: Fulya Turkey Mah. Hakkı Yeten Cad. No:10/C, Selenium Plaza Kat:5,6 Fulya, Beşiktaş 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: Third Floor, City Buildings, Carrington Street, Nottingham, NG1 7FG 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: Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, England, CB10 1DR 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 Vietnam VIE1: 2nd Floor, Kova Center, 92G-92H Nguyen Huu Canh Street, Ward no. 22, District. Binh Thanh, Ho Chi Minh City, Vietnam |
5 year summary (Tables)
5 year summary (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Financial Information [Abstract] | |
Summary of Five Year Financial Information | 2020 2019 2018 2017 2016 Note £m £m £m £m £m RELX consolidated financial information Revenue 7,110 7,874 7,492 7,341 6,889 Reported operating profit 1,525 2,101 1,964 1,905 1,708 Adjusted operating profit 1 2,076 2,491 2,346 2,284 2,114 Reported net profit attributable to RELX PLC shareholders 1,224 1,505 1,422 1,648 1,150 Adjusted net profit attributable to RELX PLC shareholders 1 1,543 1,808 1,674 1,620 1,473 RELX PLC financial information Reported earnings per ordinary share (pence) 63.5p 77.4p 71.9p 81.6p 55.8p Adjusted earnings per ordinary share (pence) 80.1p 93.0p 84.7p 80.2p 71.4p Dividend per ordinary share (pence) 2 47.0 p 45.7p 42.1p 39.4p 35.95p (1) Adjusted figures are presented as additional performance measures used by management. A reconciliation of the adjusted measures to the comparable GAAP measures can be found on page 188. Adjusted measures are stated before amortisation of acquired intangible assets, the net financing cost on defined benefit pension schemes and acquisition-related items, exceptional tax credits, exceptional costs in the Exhibitions business in 2020 and in respect of attributable net profit, reflect a tax rate that excludes the effect of movements in deferred taxation assets and liabilities that are not expected to crystallise in the near term and includes the benefit of tax amortisation where available on acquired goodwill and intangible assets. Acquisition-related financing costs and profit and loss from disposal gains and losses and other non-operating items are also excluded from the adjusted figures. (2) Dividend per ordinary share is based on the interim dividend and proposed final dividend for the relevant year. |
Revenue and Segment Analysis -
Revenue and Segment Analysis - Additional Information (Detail) £ in Millions | 12 Months Ended | ||||
Dec. 31, 2020GBP (£)Segment | Dec. 31, 2019GBP (£) | Dec. 31, 2018GBP (£) | Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | |
Disclosure of operating segments [line items] | |||||
Number of segments | Segment | 4 | ||||
Revenue | £ 7,110 | £ 7,874 | £ 7,492 | £ 7,341 | £ 6,889 |
Aggregate amount of transaction price allocated | £ 146 | 162 | |||
Revenue recognition period | 7 years | ||||
Non-current assets | £ 11,416 | 11,002 | 11,149 | ||
Share of results of joint ventures | 15 | 41 | |||
Exceptional costs in Exhibitions | 183 | ||||
Exceptional costs in Exhibitions for cancelled events | 61 | ||||
Exceptional restructuring costs in Exhibitions | 82 | ||||
Impairment charge | 40 | ||||
Impairment charge related to internally developed intangible assets | 29 | ||||
Impairment charge related to property | 11 | ||||
Tax credit | 45 | 112 | |||
Exceptional cash costs in Exhibitions | 135 | ||||
Exceptional cash costs in Exhibitions paid during the period | 51 | ||||
Gain on the revaluation of a put and call option arrangement | 76 | ||||
Joint ventures [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 60 | 123 | |||
Share of results of joint ventures | 15 | 41 | 32 | ||
Exhibitions [member] | |||||
Disclosure of operating segments [line items] | |||||
Amortisation of acquired intangible assets | 1 | 1 | |||
Exhibitions [member] | Joint ventures [member] | |||||
Disclosure of operating segments [line items] | |||||
Share of results of joint ventures | 10 | 36 | 31 | ||
Legal [member] | Joint ventures [member] | |||||
Disclosure of operating segments [line items] | |||||
Share of results of joint ventures | 4 | 3 | 0 | ||
Risk [member] | Joint ventures [member] | |||||
Disclosure of operating segments [line items] | |||||
Share of results of joint ventures | 1 | 2 | 1 | ||
United Kingdom [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 1,176 | 1,320 | 1,144 | ||
Non-current assets | 1,158 | 1,248 | 988 | ||
United Kingdom [member] | Geographical origin [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | £ 464 | £ 529 | £ 527 |
Revenue and Segment Analysis _2
Revenue and Segment Analysis - Summary of Analysis by Business Segment (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of operating segments [line items] | |||||
Revenue | £ 7,110 | £ 7,874 | £ 7,492 | £ 7,341 | £ 6,889 |
Adjusted operating profit | 2,076 | 2,491 | 2,346 | £ 2,284 | £ 2,114 |
Operating segments [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 7,110 | 7,874 | 7,492 | ||
Adjusted operating profit | 2,081 | 2,496 | 2,351 | ||
Operating segments [member] | Scientific, Technical & Medical [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 2,692 | 2,637 | 2,538 | ||
Adjusted operating profit | 1,021 | 982 | 942 | ||
Operating segments [member] | Risk [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 2,417 | 2,316 | 2,117 | ||
Adjusted operating profit | 894 | 853 | 776 | ||
Operating segments [member] | Legal [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 1,639 | 1,652 | 1,618 | ||
Adjusted operating profit | 330 | 330 | 320 | ||
Operating segments [member] | Exhibitions [member] | |||||
Disclosure of operating segments [line items] | |||||
Revenue | 362 | 1,269 | 1,219 | ||
Adjusted operating profit | (164) | 331 | 313 | ||
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | £ 7,110 | £ 7,874 | £ 7,492 | £ 7,341 | £ 6,889 |
Operating segments [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 7,110 | 7,874 | 7,492 | ||
Operating segments [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,692 | 2,637 | 2,538 | ||
Operating segments [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,417 | 2,316 | 2,117 | ||
Operating segments [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,639 | 1,652 | 1,618 | ||
Operating segments [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 362 | 1,269 | 1,219 | ||
Operating segments [member] | Electronic [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 6,179 | 5,929 | 5,513 | ||
Operating segments [member] | Electronic [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,326 | 2,214 | 2,094 | ||
Operating segments [member] | Electronic [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,387 | 2,264 | 2,030 | ||
Operating segments [member] | Electronic [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,422 | 1,400 | 1,338 | ||
Operating segments [member] | Electronic [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 44 | 51 | 51 | ||
Operating segments [member] | Face to face [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 345 | 1,260 | 1,221 | ||
Operating segments [member] | Face to face [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1 | 8 | 7 | ||
Operating segments [member] | Face to face [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 19 | 25 | 36 | ||
Operating segments [member] | Face to face [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 7 | 9 | 10 | ||
Operating segments [member] | Face to face [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 318 | 1,218 | 1,168 | ||
Operating segments [member] | Print [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 586 | 685 | 758 | ||
Operating segments [member] | Print [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 365 | 415 | 437 | ||
Operating segments [member] | Print [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 11 | 27 | 51 | ||
Operating segments [member] | Print [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 210 | 243 | 270 | ||
Operating segments [member] | Subscriptions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 4,279 | 4,129 | 3,889 | ||
Operating segments [member] | Subscriptions [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,048 | 1,970 | 1,877 | ||
Operating segments [member] | Subscriptions [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 944 | 872 | 765 | ||
Operating segments [member] | Subscriptions [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,287 | 1,287 | 1,247 | ||
Operating segments [member] | Transactional [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,784 | 3,678 | 3,521 | ||
Operating segments [member] | Transactional [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 605 | 622 | 615 | ||
Operating segments [member] | Transactional [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,469 | 1,428 | 1,322 | ||
Operating segments [member] | Transactional [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 348 | 359 | 365 | ||
Operating segments [member] | Transactional [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 362 | 1,269 | 1,219 | ||
Operating segments [member] | Advertising [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 47 | 67 | 82 | ||
Operating segments [member] | Advertising [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 39 | 45 | 46 | ||
Operating segments [member] | Advertising [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 4 | 16 | 30 | ||
Operating segments [member] | Advertising [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 4 | 6 | 6 | ||
North America [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 4,192 | 4,308 | 4,013 | ||
North America [member] | Operating segments [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 4,307 | 4,391 | 4,091 | ||
North America [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,224 | 1,182 | 1,118 | ||
North America [member] | Operating segments [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,921 | 1,843 | 1,669 | ||
North America [member] | Operating segments [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,119 | 1,118 | 1,083 | ||
North America [member] | Operating segments [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 43 | 248 | 221 | ||
Europe [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 2,436 | 2,832 | 2,790 | ||
Europe [member] | Operating segments [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,369 | 1,800 | 1,808 | ||
Europe [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 621 | 635 | 611 | ||
Europe [member] | Operating segments [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 327 | 317 | 322 | ||
Europe [member] | Operating segments [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 338 | 340 | 340 | ||
Europe [member] | Operating segments [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 83 | 508 | 535 | ||
Rest of world [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 482 | 734 | 689 | ||
Rest of world [member] | Operating segments [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 1,434 | 1,683 | 1,593 | ||
Rest of world [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 847 | 820 | 809 | ||
Rest of world [member] | Operating segments [member] | Risk [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 169 | 156 | 126 | ||
Rest of world [member] | Operating segments [member] | Legal [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | 182 | 194 | 195 | ||
Rest of world [member] | Operating segments [member] | Exhibitions [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Total revenue | £ 236 | £ 513 | £ 463 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Geographical Areas [Line Items] | |||||
Revenue | £ 7,110 | £ 7,874 | £ 7,492 | £ 7,341 | £ 6,889 |
North America [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Revenue | 4,192 | 4,308 | 4,013 | ||
Europe [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Revenue | 2,436 | 2,832 | 2,790 | ||
Rest of world [member] | |||||
Disclosure Of Geographical Areas [Line Items] | |||||
Revenue | £ 482 | £ 734 | £ 689 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | £ 997 | £ 502 | £ 1,049 |
Capital expenditure additions | 364 | 381 | 365 |
Amortisation of acquired intangible assets | 376 | 295 | 288 |
Depreciation and other amortization | 467 | 389 | 364 |
Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 169 | 65 | 106 |
Capital expenditure additions | 94 | 104 | 100 |
Amortisation of acquired intangible assets | 65 | 62 | 58 |
Depreciation and other amortization | 120 | 109 | 109 |
Risk [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 822 | 47 | 852 |
Capital expenditure additions | 93 | 96 | 92 |
Amortisation of acquired intangible assets | 192 | 170 | 161 |
Depreciation and other amortization | 98 | 89 | 73 |
Legal [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 139 | 30 | |
Capital expenditure additions | 153 | 155 | 145 |
Amortisation of acquired intangible assets | 68 | 24 | 33 |
Depreciation and other amortization | 176 | 150 | 147 |
Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 6 | 251 | 61 |
Capital expenditure additions | 24 | 26 | 28 |
Amortisation of acquired intangible assets | 51 | 39 | 36 |
Depreciation and other amortization | £ 73 | £ 41 | £ 35 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | £ 11,416 | £ 11,002 | £ 11,149 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 8,940 | 8,365 | 8,692 |
Europe [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 2,058 | 2,156 | 1,996 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | £ 418 | £ 481 | £ 461 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Abstract] | |||||
Operating profit | £ 1,525 | £ 2,101 | £ 1,964 | £ 1,905 | £ 1,708 |
Adjustments: | |||||
Amortisation of acquired intangible assets | 376 | 295 | 288 | ||
Exceptional costs in Exhibitions | 183 | ||||
Acquisition-related items | 12 | (84) | (84) | ||
Reclassification of tax in joint ventures | 5 | 12 | 11 | ||
Reclassification of finance income in joint ventures | (1) | (1) | (1) | ||
Adjusted operating profit | £ 2,076 | £ 2,491 | £ 2,346 | £ 2,284 | £ 2,114 |
Operating Profit - Disclosure o
Operating Profit - Disclosure of Detailed Information About Operating Profit (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Staff costs | |||
Wages and salaries | £ 2,173 | £ 2,116 | £ 1,959 |
Social security costs | 232 | 230 | 215 |
Pensions | 125 | 120 | 135 |
Share based remuneration | 25 | 32 | 41 |
Total staff costs | 2,555 | 2,498 | 2,350 |
Depreciation and amortisation | |||
Amortisation of acquired intangible assets | 376 | 294 | 287 |
Share of joint ventures’ amortisation of acquired intangible assets | 1 | 1 | |
Amortisation of internally developed intangible assets | 319 | 249 | 225 |
Depreciation of property, plant and equipment | 60 | 58 | 62 |
Depreciation of right-of-use assets | 88 | 82 | 77 |
Total depreciation and amortisation | 843 | 684 | 652 |
Other expenses and income | |||
Cost of sales including pre-publication costs and inventory expenses | 2,487 | 2,755 | 2,638 |
Short-term and low value lease expenses | 21 | 20 | 18 |
Operating lease rentals expense/(income) | £ (1) | £ (1) | £ (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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Auditor’s remuneration | |||
Payable to the auditors | £ 9.4 | £ 9.3 | £ 11 |
Audit services | 8.6 | 8.6 | 7.4 |
Total audit and audit-related assurance services | 9.4 | 9.2 | 8.3 |
Total non-audit related services | 0.1 | 2.7 | |
RELX PLC [member] | |||
Auditor’s remuneration | |||
Payable to the auditors | 0.8 | 0.8 | 0.9 |
Payable to the auditors of the Group's subsidiaries [member] | |||
Auditor’s remuneration | |||
Payable to the auditors | 7.8 | 7.8 | 6.5 |
Audit-related assurance services [member] | |||
Auditor’s remuneration | |||
Audit services | £ 0.8 | 0.6 | 0.9 |
Due diligence and other transaction-related services [member] | |||
Auditor’s remuneration | |||
Other services | £ 0.1 | £ 2.7 |
Auditor's Remuneration - Additi
Auditor's Remuneration - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of auditors remuneration [line items] | |||
Audit related assurance services fee | £ 8,600,000 | £ 8,600,000 | £ 7,400,000 |
Audit-related assurance services [member] | |||
Disclosure of auditors remuneration [line items] | |||
Audit related assurance services fee | 800,000 | 600,000 | £ 900,000 |
Audit-related assurance services [member] | RELX PLC and RELX NV [member] | |||
Disclosure of auditors remuneration [line items] | |||
Audit related assurance services fee | £ 0 | £ 100,000 |
Personnel - Disclosure of Detai
Personnel - Disclosure of Detailed Information About Number of People Employed (Detail) - Employee | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of number and average number of employees [line items] | |||
Number of employees | 33,200 | 33,200 | 32,100 |
Average number of employees | 33,400 | 32,800 | 31,800 |
North America [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 14,200 | 14,100 | 13,800 |
Average number of employees | 14,200 | 14,000 | 13,700 |
Europe [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,500 | 9,500 | 9,200 |
Average number of employees | 9,600 | 9,400 | 9,200 |
Rest of world [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,500 | 9,600 | 9,100 |
Average number of employees | 9,600 | 9,400 | 8,900 |
Operating segments [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 32,400 | 32,400 | 31,300 |
Average number of employees | 32,600 | 32,000 | 31,000 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 8,600 | 8,100 | 7,900 |
Average number of employees | 8,300 | 8,000 | 7,700 |
Operating segments [member] | Risk [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,700 | 9,100 | 8,700 |
Average number of employees | 9,600 | 9,000 | 8,600 |
Operating segments [member] | Legal [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 10,400 | 10,600 | 10,500 |
Average number of employees | 10,500 | 10,600 | 10,600 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 3,700 | 4,600 | 4,200 |
Average number of employees | 4,200 | 4,400 | 4,100 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of number and average number of employees [line items] | |||
Number of employees | 33,200 | 33,200 | 32,100 |
Average number of employees | 33,400 | 32,800 | 31,800 |
United Kingdom [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 5,400 | 5,400 | 5,200 |
Average number of employees | 5,400 | 5,300 | 5,100 |
Pension Schemes - Additional In
Pension Schemes - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [line items] | |||
Expected employer contributions to defined benefit pension plan | £ 57 | ||
Pension deficit funding contribution to defined benefit pension | 44 | ||
Pension cost recognised within operating profit | 125 | £ 120 | £ 135 |
Deferred tax assets | 270 | 239 | |
Recognised loss in statement of comprehensive income in relation to asset ceiling | 37 | 13 | |
Asset ceiling balance | 47 | 13 | |
Foreign exchange gain on the asset ceiling | 3 | ||
Government bonds | £ 1,948 | £ 1,486 | |
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 | £ 125 | £ 96 | |
Defined benefit pension plans [member] | 2020-2022 [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected pension remaining deficit funding contribution | £ 88 | ||
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 | 11 years | 13 years | |
Funded scheme [member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | £ 5,459 | £ 5,016 | |
Unfunded scheme [member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | £ 271 | £ 253 |
Pension Schemes - Schedule of P
Pension Schemes - Schedule of Pension Expense Excluding Interest Amounts (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |||
Defined benefit pension expense | £ 11 | £ 11 | £ 47 |
Defined contribution pension expense | 114 | 109 | 95 |
Total | £ 125 | £ 120 | £ 142 |
Pension Schemes - Schedule of D
Pension Schemes - Schedule of Defined Benefit Pension Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [line items] | |||
Service cost | £ 24 | £ 24 | £ 36 |
Settlement and past service (credits)/cost | (13) | (13) | 11 |
Defined benefit pension expense | 11 | 11 | 47 |
Net interest on net defined benefit obligation | 10 | 12 | 9 |
Net defined benefit pension expense | 21 | 23 | 56 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 21 | 21 | 27 |
Settlement and past service (credits)/cost | (8) | 11 | |
Defined benefit pension expense | 21 | 13 | 38 |
Net interest on net defined benefit obligation | 9 | 9 | 6 |
Net defined benefit pension expense | 30 | 22 | 44 |
Foreign schemes [member] | US [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 3 | 3 | 9 |
Settlement and past service (credits)/cost | (13) | (5) | |
Defined benefit pension expense | (10) | (2) | 9 |
Net interest on net defined benefit obligation | 1 | 3 | 3 |
Net defined benefit pension expense | £ (9) | £ 1 | £ 12 |
Pension Schemes - Summary of De
Pension Schemes - Summary of Defined Benefit Pension Expense (Detail) | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 1.45% | 2.05% | 2.85% |
Inflation | 2.80% | 2.95% | 3.15% |
US [member] | Foreign schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 2.45% | 3.25% | 4.20% |
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, 2020 | |
UK schemes [member] | Member currently aged sixty years [member] | United Kingdom [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 86 years |
Female average life expectancy | 89 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 | 87 years |
Female average life expectancy | 90 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 | 86 years |
Female average life expectancy | 88 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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | £ (520) | ||
Service cost | (24) | £ (24) | £ (36) |
Net interest on net defined benefit obligation | (10) | (12) | (9) |
Settlement and past service credits/(cost) | 13 | 13 | (11) |
Contributions by employer | 70 | 72 | |
Actuarial (losses)/gains | (118) | (124) | (91) |
Exchange translation differences | (1) | 1 | |
At end of year | (624) | (520) | |
Net defined benefit obligation, at the start of the year | (507) | (433) | |
Net pension obligation | (577) | (507) | |
Impact of asset ceiling | (47) | (13) | |
Overall net pension obligation | (624) | (520) | |
UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Service cost | (21) | (21) | (27) |
Net interest on net defined benefit obligation | (9) | (9) | (6) |
Settlement and past service credits/(cost) | 8 | (11) | |
Contributions by employer | 63 | 66 | |
Actuarial (losses)/gains | (141) | (169) | |
Net defined benefit obligation, at the start of the year | (484) | (359) | |
Net pension obligation | (592) | (484) | |
Overall net pension obligation | (592) | (484) | |
US [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Service cost | (3) | (3) | (9) |
Net interest on net defined benefit obligation | (1) | (3) | (3) |
Settlement and past service credits/(cost) | 13 | 5 | |
Contributions by employer | 7 | 6 | |
Actuarial (losses)/gains | 23 | 45 | |
Exchange translation differences | (1) | 1 | |
Net defined benefit obligation, at the start of the year | (23) | (74) | |
Net pension obligation | 15 | (23) | |
Impact of asset ceiling | (47) | (13) | |
Overall net pension obligation | (32) | (36) | |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (5,269) | (4,812) | |
Service cost | (24) | (24) | |
Past service credits | 13 | 13 | |
Net interest on net defined benefit obligation | (116) | (146) | |
Actuarial loss on financial assumptions | (591) | (611) | |
Actuarial gain/(loss) arising from experience assumptions | 47 | 17 | |
Contributions by employees | (8) | (9) | |
Liabilities (Assets) transferred on settlement | 65 | ||
Benefits paid | 185 | 197 | |
Exchange translation differences | 33 | 41 | |
At end of year | (5,730) | (5,269) | (4,812) |
Present value of defined benefit obligation [member] | UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (4,251) | (3,772) | |
Service cost | (21) | (21) | |
Past service credits | 8 | ||
Net interest on net defined benefit obligation | (85) | (104) | |
Actuarial loss on financial assumptions | (492) | (495) | |
Actuarial gain/(loss) arising from experience assumptions | 60 | 22 | |
Contributions by employees | (8) | (9) | |
Benefits paid | 129 | 120 | |
Exchange translation differences | 0 | ||
At end of year | (4,668) | (4,251) | (3,772) |
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 | (1,018) | (1,040) | |
Service cost | (3) | (3) | |
Past service credits | 13 | 5 | |
Net interest on net defined benefit obligation | (31) | (42) | |
Actuarial loss on financial assumptions | (99) | (116) | |
Actuarial gain/(loss) arising from experience assumptions | (13) | (5) | |
Liabilities (Assets) transferred on settlement | 65 | ||
Benefits paid | 56 | 77 | |
Exchange translation differences | 33 | 41 | |
At end of year | (1,062) | (1,018) | (1,040) |
Fair value of scheme assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 4,762 | 4,379 | |
Net interest on net defined benefit obligation | 106 | 134 | |
Return on assets excluding amounts included in interest income | 426 | 470 | |
Contributions by employer | 70 | 72 | |
Contributions by employees | 8 | 9 | |
Liabilities (Assets) transferred on settlement | (65) | ||
Benefits paid | (185) | (197) | |
Exchange translation differences | (34) | (40) | |
At end of year | 5,153 | 4,762 | 4,379 |
Fair value of scheme assets [member] | UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 3,767 | 3,413 | |
Net interest on net defined benefit obligation | 76 | 95 | |
Return on assets excluding amounts included in interest income | 291 | 304 | |
Contributions by employer | 63 | 66 | |
Contributions by employees | 8 | 9 | |
Benefits paid | (129) | (120) | |
At end of year | 4,076 | 3,767 | 3,413 |
Fair value of scheme assets [member] | US [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 995 | 966 | |
Net interest on net defined benefit obligation | 30 | 39 | |
Return on assets excluding amounts included in interest income | 135 | 166 | |
Contributions by employer | 7 | 6 | |
Liabilities (Assets) transferred on settlement | (65) | ||
Benefits paid | (56) | (77) | |
Exchange translation differences | (34) | (40) | |
At end of year | £ 1,077 | £ 995 | £ 966 |
Pension Schemes - Summary of Ne
Pension Schemes - Summary of Net Pension Obligations and Net Pension Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Defined Benefit Plans [Abstract] | ||
Net pension assets | £ 47 | £ 45 |
Net pension obligation | (671) | (565) |
Overall net pension obligation | £ (624) | £ (520) |
Pension Schemes - Amounts Rec_2
Pension Schemes - Amounts Recognised in Statement of Comprehensive Income (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Gains and losses arising during the year: | |||
Experience gains on scheme liabilities | £ 47 | £ 17 | £ 6 |
Experience gains/(losses) on scheme assets | 426 | 470 | (273) |
Actuarial (losses)/gains on defined benefit pension schemes | (118) | (124) | (91) |
Net cumulative losses at start of year | (828) | (704) | (613) |
Net cumulative losses at end of year | (946) | (828) | (704) |
Discount rates [member] | |||
Gains and losses arising during the year: | |||
Actuarial (loss)/gain on financial assumptions | (671) | (743) | 242 |
Inflation [member] | |||
Gains and losses arising during the year: | |||
Actuarial (loss)/gain on financial assumptions | 127 | 142 | |
Other actuarial assumptions [member] | |||
Gains and losses arising during the year: | |||
Actuarial (loss)/gain on financial assumptions | £ (47) | £ (10) | £ (66) |
Pension Schemes - Summary of Fa
Pension Schemes - Summary of Fair Value of Scheme Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of fair value of plan assets [line items] | ||
Equities | £ 1,573 | £ 1,484 |
Liability matching assets | 2,551 | 2,264 |
Property funds and ground leases | 706 | 715 |
Direct lending | 204 | 182 |
Cash and cash equivalents | 107 | 88 |
Other | 12 | 29 |
Total | 5,153 | 4,762 |
UK schemes [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 1,563 | 1,358 |
Liability matching assets | 1,499 | 1,414 |
Property funds and ground leases | 706 | 715 |
Direct lending | 204 | 182 |
Cash and cash equivalents | 95 | 75 |
Other | 9 | 23 |
Total | 4,076 | 3,767 |
Foreign schemes [member] | US [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 10 | 126 |
Liability matching assets | 1,052 | 850 |
Property funds and ground leases | 0 | |
Direct lending | 0 | |
Cash and cash equivalents | 12 | 13 |
Other | 3 | 6 |
Total | £ 1,077 | £ 995 |
Pension Schemes - Sensitivity A
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Detail) £ in Millions | Dec. 31, 2020GBP (£) |
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 | £ 257 |
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 | 161 |
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 | £ 216 |
Pension Schemes - Sensitivity_2
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net Finance Costs [Abstract] | |||
Interest on short-term bank loans, overdrafts and commercial paper | £ (17) | £ (20) | £ (22) |
Interest on term debt | (122) | (266) | (161) |
Interest on lease liabilities | (12) | (15) | (14) |
Total borrowing costs | (151) | (301) | (197) |
Losses on loans and derivatives not designated as hedges | (13) | (10) | |
Fair value losses on designated fair value hedge relationships | (1) | ||
Net financing charge on defined benefit pension schemes and other | (11) | (13) | (9) |
Finance costs | (175) | (314) | (217) |
Interest on bank deposits | 2 | 3 | 4 |
Interest income on net finance lease receivables | 1 | 2 | 2 |
Fair value gains on designated fair value hedge relationships | 1 | ||
Gains on loans and derivatives not designated as hedges | 3 | ||
Finance income | 3 | 9 | 6 |
Net finance costs | £ (172) | £ (305) | £ (211) |
Net Finance Costs - Additional
Net Finance Costs - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Costs [Abstract] | |||
Net gain (loss) on interest rate derivatives designated as cash flow hedges | £ 3 | £ (1) | £ (8) |
Hedge reserve reclassified to income statement | £ (4) | £ 3 | |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |||
Revaluation of investments | £ 151 | £ 25 | £ (11) |
(Loss)/gain on disposal of businesses and assets held for sale | (21) | 26 | (22) |
Net gain/(loss) on disposals and other non-operating items | £ 130 | £ 51 | £ (33) |
Taxation - Summary of Tax Expen
Taxation - Summary of Tax Expense (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current tax | |||
Current tax | £ (264) | £ (382) | £ (297) |
Deferred tax | (11) | 44 | 5 |
Tax expense | (275) | (338) | (292) |
United Kingdom [member] | |||
Current tax | |||
Current tax | (80) | (141) | (71) |
Rest of world [member] | |||
Current tax | |||
Current tax | £ (184) | £ (241) | £ (226) |
Taxation - Additional Informati
Taxation - Additional Information (Detail) - GBP (£) £ in Millions | Jan. 01, 2021 | Apr. 01, 2020 | Jan. 01, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Tax paid (net) | £ 496 | £ 464 | £ 415 | ||||
Applicable tax rate | 22.30% | 22.60% | 21.00% | ||||
Deferred tax credit | £ 14 | £ 6 | £ 8 | ||||
Reported tax rate | 18.50% | 18.30% | 17.00% | ||||
Deferred tax liabilities | £ 665 | £ 593 | |||||
Deferred tax assets | 270 | 239 | |||||
Unrecognised state and local tax losses | 94 | 96 | |||||
Unrecognised state and local tax losses expire within ten years | 44 | 45 | |||||
Unrecognised state and local tax losses expire after more than ten years | 50 | 51 | |||||
Unused tax losses for which no deferred tax asset recognised | 6 | 6 | |||||
Put and call option arrangement [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Expenses not deductible for tax purposes, credit | 19 | ||||||
Unused trading losses [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Unused losses and interest expenses for which no deferred tax asset has been recognised | 297 | 255 | |||||
Deferred tax asset not recognised | 81 | 66 | |||||
Unrecognised losses expiration within 10 years | 168 | 124 | |||||
Unrecognised losses expiration more than 10 years | 129 | 131 | |||||
Unused tax losses and other temporary differences [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Unused losses and interest expenses for which no deferred tax asset has been recognised | 23 | 33 | |||||
Deferred tax asset not recognised which can only be used to offset future capital gains | 4 | £ 6 | |||||
Temporary differences [member] | Capitalised development costs [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Deferred tax liabilities | 207 | ||||||
Deferred tax assets | 21 | ||||||
Temporary differences [member] | Fair value movements on investments [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Deferred tax liabilities | 43 | ||||||
Temporary differences [member] | Accruals and provisions [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Deferred tax assets | 95 | ||||||
Temporary differences [member] | Share based remuneration provisions [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Deferred tax assets | 27 | ||||||
Temporary differences [member] | Property, plant and equipment [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Deferred tax assets | £ 16 | ||||||
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 | 22.30% | 22.60% | 21.00% |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||
Profit before tax | £ 1,483 | £ 1,847 | £ 1,720 |
Tax at average applicable rates | (331) | (418) | (361) |
Tax effect of share of results of joint ventures | 3 | 10 | 8 |
Expenses not deductible for tax purposes | 18 | (3) | (24) |
Non-deductible costs of share based remuneration | (2) | (1) | (1) |
Non-deductible disposal-related gains and losses | (2) | 4 | |
Deferred tax assets of the period not recognised | (19) | (15) | (24) |
Change in recognition of deferred tax assets or liabilities | 14 | 12 | (15) |
Other adjustments in respect of prior periods | 44 | 73 | 13 |
Exceptional tax credit | 45 | 112 | |
Tax expense | £ (275) | £ (338) | £ (292) |
Tax at average applicable rates | 22.30% | 22.60% | 21.00% |
Tax effect of share of results of joint ventures | (0.20%) | (0.50%) | (0.50%) |
Expenses not deductible for tax purposes | (1.20%) | 0.20% | 1.40% |
Non-deductible costs of share based remuneration | 0.10% | 0.10% | 0.10% |
Non-deductible disposal-related gains and losses | 0.10% | (0.20%) | 0.00% |
Deferred tax assets of the period not recognised | 1.30% | 0.80% | 1.40% |
Change in recognition of deferred tax assets or liabilities | (0.90%) | (0.60%) | 0.90% |
Other adjustments in respect of prior periods | (3.00%) | (4.00%) | (0.80%) |
Exceptional tax credit | (6.50%) | ||
Tax expense | 18.50% | 18.30% | 17.00% |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Tax on items that may be reclassified to profit or loss | |||
Tax on actuarial movements on defined benefit pension schemes | £ 39 | £ 23 | £ 15 |
Tax on fair value movements on cash flow hedges | (4) | (8) | 9 |
Net tax credit recognised in other comprehensive income | 35 | 15 | 24 |
Tax credit/(debit) on share based remuneration recognised directly in equity | 5 | 6 | (3) |
Deferred tax assets | 270 | 239 | |
Deferred tax liabilities | (665) | (593) | |
Total | £ (395) | £ (354) | £ (375) |
Taxation - Movements in Deferre
Taxation - Movements in Deferred Tax Liabilities and Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | £ (354) | £ (375) |
Credit/(charge) to profit | (11) | 44 |
Credit/(charge) to equity/other comprehensive income | 28 | 6 |
Acquisitions | (90) | (44) |
Exchange translation differences | 32 | 15 |
Deferred tax (liability)/asset at end of year | (395) | (354) |
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 | (150) | (204) |
Credit/(charge) to profit | 51 | 48 |
Exchange translation differences | 1 | 6 |
Deferred tax (liability)/asset at end of year | (98) | (150) |
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 | (543) | (527) |
Credit/(charge) to profit | 10 | 9 |
Acquisitions | (97) | (44) |
Exchange translation differences | 18 | 19 |
Deferred tax (liability)/asset at end of year | (612) | (543) |
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 | (290) | (306) |
Credit/(charge) to profit | 1 | 19 |
Credit/(charge) to equity/other comprehensive income | (17) | |
Exchange translation differences | 6 | 14 |
Deferred tax (liability)/asset at end of year | (283) | (290) |
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 | 279 | 273 |
Credit/(charge) to profit | (80) | 7 |
Credit/(charge) to equity/other comprehensive income | (1) | 10 |
Acquisitions | 1 | |
Exchange translation differences | 1 | (11) |
Deferred tax (liability)/asset at end of year | 200 | 279 |
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 | 179 | 207 |
Credit/(charge) to profit | (13) | (19) |
Exchange translation differences | 8 | (9) |
Deferred tax (liability)/asset at end of year | 174 | 179 |
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 | 75 | 96 |
Credit/(charge) to profit | 20 | (18) |
Acquisitions | 6 | |
Exchange translation differences | (2) | (3) |
Deferred tax (liability)/asset at end of year | 99 | 75 |
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 | 96 | 86 |
Credit/(charge) to profit | 0 | (2) |
Credit/(charge) to equity/other comprehensive income | 29 | 13 |
Exchange translation differences | (1) | |
Deferred tax (liability)/asset at end of year | £ 125 | £ 96 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share - 2020, 2019 and 2018 (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||||
Net profit attributable to RELX PLC shareholders | £ 1,224 | £ 1,505 | £ 1,422 | £ 1,648 | £ 1,150 |
Weighted average number of shares, Basic | 1,926.2 | 1,943.5 | 1,977.2 | ||
EPS, Basic | £ 0.635 | £ 0.774 | £ 0.719 | ||
Net profit attributable to RELX PLC shareholders | £ 1,224 | £ 1,505 | £ 1,422 | ||
Weighted average number of shares, Diluted | 1,937.8 | 1,956.2 | 1,990.8 | ||
EPS, Diluted | £ 0.632 | £ 0.769 | £ 0.714 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||||
Adjusted net profit attributable to RELX PLC shareholders | £ 1,543 | £ 1,808 | £ 1,674 | £ 1,620 | £ 1,473 |
Weighted average number of shares, Basic | 1,926.2 | 1,943.5 | 1,977.2 | ||
Adjusted EPS | £ 0.801 | £ 0.930 | £ 0.847 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Line Items] | |||||
RELX PLC shareholders | £ 1,224 | £ 1,505 | £ 1,422 | ||
Adjustments: | |||||
Amortisation of acquired intangible assets | 395 | 321 | 322 | ||
Other deferred tax credits from intangible assets | (78) | (57) | (55) | ||
Acquisition-related items | (18) | 69 | 71 | ||
Net interest on net defined benefit pension obligation and other | 9 | 10 | 7 | ||
Disposals and other non-operating items | (127) | (40) | 19 | ||
Exceptional expense in Exhibitions | 138 | ||||
Adjusted net profit attributable to RELX PLC shareholders | 1,543 | 1,808 | 1,674 | £ 1,620 | £ 1,473 |
Exceptional tax credit | (45) | (112) | |||
Pre tax adjustment | |||||
Adjustments: | |||||
Amortisation of acquired intangible assets | 360 | 295 | 288 | ||
Acquisition-related items | (12) | 84 | 84 | ||
Net interest on net defined benefit pension obligation and other | 11 | 13 | 9 | ||
Disposals and other non-operating items | (130) | (51) | 33 | ||
Exceptional expense in Exhibitions | 183 | ||||
Tax on adjustment | |||||
Adjustments: | |||||
Amortisation of acquired intangible assets | 35 | 26 | 34 | ||
Other deferred tax credits from intangible assets | (78) | (57) | (55) | ||
Acquisition-related items | (6) | (15) | (13) | ||
Net interest on net defined benefit pension obligation and other | (2) | (3) | (2) | ||
Disposals and other non-operating items | 3 | £ 11 | (14) | ||
Exceptional expense in Exhibitions | £ (45) | ||||
Exceptional tax credit | £ (112) |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Cash Flow Statement [Abstract] | |||||
Operating profit | £ 1,525 | £ 2,101 | £ 1,964 | £ 1,905 | £ 1,708 |
Share of results of joint ventures | (15) | (41) | (32) | ||
Amortisation of acquired intangible assets | 376 | 294 | 287 | ||
Amortisation of internally developed intangible assets | 319 | 249 | 225 | ||
Depreciation of property, plant and equipment | 60 | 58 | 62 | ||
Depreciation of right-of-use assets | 88 | 82 | 77 | ||
Share based remuneration | 25 | 32 | 41 | ||
Total non-cash items | 868 | 715 | 692 | ||
Increase in inventories and pre-publication costs | 18 | 14 | 7 | ||
Decrease/(increase) in receivables | (149) | 116 | 89 | ||
(Decrease)/increase in payables | 245 | (79) | (27) | ||
Increase in working capital | (114) | (51) | (69) | ||
Cash generated from operations | £ 2,264 | £ 2,724 | £ 2,555 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Purchase of businesses | £ (864) | £ (399) | £ (919) |
Deferred payments relating to prior year acquisitions | (5) | (24) | (16) |
Total | £ (869) | £ (423) | £ (935) |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | £ (6,191) | £ (6,177) | £ (5,042) |
(Decrease)/increase in cash and cash equivalents | (51) | 27 | 1 |
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 436 | (98) | (147) |
Issuance of term debt | (2,342) | (729) | (958) |
Repayment of term debt | 1,233 | 617 | 211 |
Repayment of leases | 90 | 86 | 81 |
Change in net borrowings resulting from cash flows | (634) | (97) | (812) |
Borrowings in acquired businesses | (3) | (6) | (12) |
Remeasurement and derecognition of leases | (8) | (28) | (12) |
Inception of leases | (24) | (60) | (28) |
Fair value and other adjustments to borrowings and related derivatives | (4) | (94) | (25) |
Exchange translation differences | (34) | 271 | (246) |
Net borrowings at end of year | (6,898) | (6,191) | £ (6,177) |
Cash and cash equivalents [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | 138 | ||
(Decrease)/increase in cash and cash equivalents | (51) | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 0 | ||
Issuance of term debt | 0 | ||
Repayment of term debt | 0 | ||
Repayment of leases | 0 | ||
Change in net borrowings resulting from cash flows | (51) | ||
Borrowings in acquired businesses | 0 | ||
Remeasurement and derecognition of leases | 0 | ||
Inception of leases | 0 | ||
Fair value and other adjustments to borrowings and related derivatives | 0 | ||
Exchange translation differences | 1 | ||
Net borrowings at end of year | 88 | 138 | |
Borrowings [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | (6,414) | ||
(Decrease)/increase in cash and cash equivalents | 0 | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 436 | ||
Issuance of term debt | (2,342) | ||
Repayment of term debt | 1,233 | ||
Repayment of leases | 105 | ||
Change in net borrowings resulting from cash flows | (568) | ||
Borrowings in acquired businesses | (3) | ||
Remeasurement and derecognition of leases | (8) | ||
Inception of leases | (25) | ||
Fair value and other adjustments to borrowings and related derivatives | (76) | ||
Exchange translation differences | (29) | ||
Net borrowings at end of year | (7,123) | (6,414) | |
Related derivative financial instruments [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | 52 | ||
(Decrease)/increase in cash and cash equivalents | 0 | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 0 | ||
Issuance of term debt | 0 | ||
Repayment of term debt | 0 | ||
Repayment of leases | 0 | ||
Change in net borrowings resulting from cash flows | 0 | ||
Borrowings in acquired businesses | 0 | ||
Remeasurement and derecognition of leases | 0 | ||
Inception of leases | 0 | ||
Fair value and other adjustments to borrowings and related derivatives | 72 | ||
Exchange translation differences | (5) | ||
Net borrowings at end of year | 119 | 52 | |
Finance lease receivable [member] | |||
Disclosure Of Cash Flow Statement [Line Items] | |||
Net borrowings at start of year | 33 | ||
(Decrease)/increase in cash and cash equivalents | 0 | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 0 | ||
Issuance of term debt | 0 | ||
Repayment of term debt | 0 | ||
Repayment of leases | (15) | ||
Change in net borrowings resulting from cash flows | (15) | ||
Borrowings in acquired businesses | 0 | ||
Remeasurement and derecognition of leases | 0 | ||
Inception of leases | 1 | ||
Fair value and other adjustments to borrowings and related derivatives | 0 | ||
Exchange translation differences | (1) | ||
Net borrowings at end of year | £ 18 | £ 33 |
Acquisitions - Consideration Pa
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Business Combinations [Abstract] | |||
Goodwill | £ 570 | £ 257 | £ 626 |
Intangible assets | 427 | 245 | 423 |
Property, plant and equipment | 3 | 1 | 5 |
Non current assets | 1 | 4 | 12 |
Current assets | 20 | 20 | 24 |
Current liabilities | (24) | (53) | (72) |
Borrowings | (3) | (6) | (12) |
Deferred tax | (90) | (44) | (51) |
Net assets acquired | 904 | 424 | 955 |
Consideration (after taking account of £29m (2019: £32m; 2018: £27m) net cash acquired) | 904 | 424 | 955 |
Less: consideration deferred to future years | (40) | (10) | (36) |
Less: acquisition date fair value of equity interest | (15) | ||
Net cash flow | £ 864 | £ 399 | £ 919 |
Acquisitions - Consideration _2
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Parenthetical) (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Business Combinations [Abstract] | |||
Cash of acquired businesses at acquisition date | £ 29 | £ 32 | £ 27 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) £ in Millions, $ in Millions | Dec. 09, 2020 | Mar. 19, 2020USD ($) | Jan. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 31, 2019GBP (£) | Dec. 31, 2018GBP (£) |
Disclosure Of Business Combinations [Line Items] | ||||||
Total acquisitions | £ 878 | |||||
Aggregate consideration of business acquisition | 904 | £ 424 | £ 955 | |||
Revenue contributed by business acquisition | 70 | |||||
Increased adjusted operating profit | 13 | |||||
Decreased net profit | 32 | |||||
Integration costs and amortisation of acquired intangibles | 44 | |||||
Net cash inflow from operating activities contributed by business acquisition | 9 | |||||
Group revenue, pro forma basis | 7,148 | |||||
Adjusted operating profit, pro forma basis | 2,082 | |||||
Adjusted net profit, pro forma basis | £ 1,229 | |||||
ID Analytics [member] | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Aggregate consideration of business acquisition | $ | $ 375 | |||||
Percentage of share capital acquired | 100.00% | |||||
Emailage [member] | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Aggregate consideration of business acquisition | $ | $ 480 | |||||
Percentage of share capital acquired | 100.00% | |||||
Shadow Health [member] | ||||||
Disclosure Of Business Combinations [Line Items] | ||||||
Percentage of share capital acquired | 100.00% |
Equity Dividends - Ordinary Div
Equity Dividends - Ordinary Dividends Paid (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of dividends [line items] | |||
Ordinary dividends paid | £ 880 | £ 842 | £ 796 |
RELX PLC [member] | |||
Disclosure of dividends [line items] | |||
Ordinary dividends paid | £ 880 | £ 842 | 420 |
RELX NV [member] | |||
Disclosure of dividends [line items] | |||
Ordinary dividends paid | £ 376 |
Equity Dividends - Additional I
Equity Dividends - Additional Information (Detail) - GBP (£) £ / shares in Units, £ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of dividends [line items] | |||||
Dividend payables | £ 643 | ||||
RELX PLC [member] | |||||
Disclosure of dividends [line items] | |||||
Final dividend | £ 0.321 | £ 0.297 | £ 0.277 | ||
Interim dividend | 0.136 | 0.136 | 0.124 | ||
Total dividends | 0.457 | 0.433 | 0.401 | ||
Final dividend proposed | 0.334 | 0.321 | 0.297 | ||
Dividend proposed | £ 0.470 | £ 0.457 | £ 0.421 | £ 0.394 | £ 0.3595 |
Goodwill - Summary of Changes i
Goodwill - Summary of Changes in Goodwill (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract] | ||
At start of year | £ 6,824 | £ 6,899 |
Acquisitions | 570 | 257 |
Disposals/reclassified as held for sale | (6) | (64) |
Exchange translation differences | (164) | (268) |
At end of year | £ 7,224 | £ 6,824 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 7,224,000,000 | £ 6,824,000,000 | £ 6,899,000,000 |
Impairment of goodwill | 0 | ||
Impairment of indefinite lived intangible assets | £ 0 | ||
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 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%. Following the disruption to the business due to Covid-19 a further sensitivity analysis has been performed on the Exhibitions cash generating unit which assumes a longer recovery period. Management forecasts reflect a range of downside scenarios including the Exhibitions business continuing to be impacted by Covid-19 related restrictions throughout 2021 with only gradual recovery in the following years. These sensitivity analyses show that no impairment charges would result from these scenarios. | ||
Top of range [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Growth in cash flows over forecast period | 5 years | ||
Nominal long-term market growth rates maximum forecast period | 5 years | ||
Accumulated amortisation [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 1,151,000,000 | 1,178,000,000 | |
Accumulated impairment [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Impairment charge recorded in prior years | £ 9,000,000 | £ 9,000,000 |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill by Segment (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 7,224 | £ 6,824 | £ 6,899 |
Scientific, Technical & Medical [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 1,669 | 1,594 | |
Risk [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 3,546 | 3,186 | |
Legal [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 1,395 | 1,428 | |
Exhibitions [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 614 | £ 616 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used for Each Group of Cash Generating Units (Detail) | Dec. 31, 2020 | Dec. 31, 2019 |
Scientific, Technical & Medical [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 9.80% | 9.40% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Risk [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 10.60% | 10.00% |
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 | 11.20% | 10.60% |
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 | 12.60% | 11.60% |
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, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets | £ 3,425 | £ 3,452 |
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 | £ 36 | 54 |
Scientific, Technical & Medical [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful lives | £ 111 | £ 114 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | £ 3,452 | |
Intangible assets other than goodwill at end of period | 3,425 | £ 3,452 |
Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 10,676 | 10,695 |
Acquisitions | 427 | 245 |
Additions | 318 | 333 |
Disposals and other | (160) | (215) |
Exchange translation differences | (186) | (382) |
Intangible assets other than goodwill at end of period | 11,075 | 10,676 |
Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | (7,224) | (7,161) |
Charge for the year | 695 | 543 |
Disposals and other | (148) | (215) |
Exchange translation differences | (121) | (265) |
Intangible assets other than goodwill at end of period | (7,650) | (7,224) |
Acquired intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 2,188 | |
Intangible assets other than goodwill at end of period | 2,181 | 2,188 |
Acquired intangible assets [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 7,635 | 7,749 |
Acquisitions | 427 | 245 |
Disposals and other | (70) | (85) |
Exchange translation differences | (168) | (274) |
Intangible assets other than goodwill at end of period | 7,824 | 7,635 |
Acquired intangible assets [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | (5,447) | (5,432) |
Charge for the year | 376 | 294 |
Disposals and other | (70) | (85) |
Exchange translation differences | (110) | (194) |
Intangible assets other than goodwill at end of period | (5,643) | (5,447) |
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 | 1,771 | |
Intangible assets other than goodwill at end of period | 1,764 | 1,771 |
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 | 4,000 | 4,025 |
Acquisitions | 271 | 161 |
Disposals and other | (6) | (28) |
Exchange translation differences | (124) | (158) |
Intangible assets other than goodwill at end of period | 4,141 | 4,000 |
Acquired intangible assets [member] | Market and customer-related [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | (2,229) | (2,166) |
Charge for the year | 237 | 182 |
Disposals and other | (14) | (28) |
Exchange translation differences | (75) | (91) |
Intangible assets other than goodwill at end of period | (2,377) | (2,229) |
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 | 417 | |
Intangible assets other than goodwill at end of period | 417 | 417 |
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 | 3,635 | 3,724 |
Acquisitions | 156 | 84 |
Disposals and other | (64) | (57) |
Exchange translation differences | (44) | (116) |
Intangible assets other than goodwill at end of period | 3,683 | 3,635 |
Acquired intangible assets [member] | Content, software and other [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | (3,218) | (3,266) |
Charge for the year | 139 | 112 |
Disposals and other | (56) | (57) |
Exchange translation differences | (35) | (103) |
Intangible assets other than goodwill at end of period | (3,266) | (3,218) |
Internally developed intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,264 | |
Intangible assets other than goodwill at end of period | 1,244 | 1,264 |
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 | 3,041 | 2,946 |
Additions | 318 | 333 |
Disposals and other | (90) | (130) |
Exchange translation differences | (18) | (108) |
Intangible assets other than goodwill at end of period | 3,251 | 3,041 |
Internally developed intangible assets [member] | Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | (1,777) | (1,729) |
Charge for the year | 319 | 249 |
Disposals and other | (78) | (130) |
Exchange translation differences | (11) | (71) |
Intangible assets other than goodwill at end of period | £ (2,007) | £ (1,777) |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Intangible Assets (Parenthetical) (Detail) £ in Millions | 12 Months Ended |
Dec. 31, 2020GBP (£) | |
Acquired intangible assets [member] | Legal [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Impairment of intangible asset | £ 42 |
Acquired intangible assets [member] | Exhibitions [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Impairment of intangible asset | 23 |
Internally developed intangible assets [member] | Exhibitions [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Impairment of intangible asset | £ 29 |
Investments - Summary of Invest
Investments - Summary of Investments (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Investments In Joint Ventures And Other Investments [Line Items] | |||
Investments in joint ventures | £ 103 | £ 118 | £ 104 |
Investments [member] | |||
Disclosure Of Investments In Joint Ventures And Other Investments [Line Items] | |||
Investments in joint ventures | 103 | 118 | |
Venture capital investments | 259 | 133 | |
Total | £ 362 | £ 251 |
Investments - Additional Inform
Investments - Additional Information (Details) - GBP (£) £ / shares in Units, £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Other comprehensive income | £ (369) | £ (153) | £ 98 |
Joint ventures [member] | |||
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Other comprehensive income | 0 | ||
Palantir Technologies Inc [member] | |||
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Venture capital investments | £ 173 | ||
Share price | £ 23.55 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Analysis Of Changes In The Carrying Value Of Investments In Joint Ventures [Abstract] | |||
At start of year | £ 118 | £ 104 | |
Share of results of joint ventures | 15 | 41 | |
Dividends received from joint ventures | (31) | (34) | £ (30) |
Additions | 24 | ||
Disposals | (11) | ||
Exchange translation differences | 1 | (6) | |
At end of year | £ 103 | £ 118 | £ 104 |
Investments - Summary of Group'
Investments - Summary of Group's Share of Joint Ventures (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||||
Revenue | £ 7,110 | £ 7,874 | £ 7,492 | £ 7,341 | £ 6,889 |
Net profit for the year | 15 | 41 | |||
Total assets | 14,145 | 13,789 | |||
Total liabilities | (12,044) | (11,599) | |||
Net assets | 2,101 | 2,190 | |||
Goodwill | 7,224 | 6,824 | 6,899 | ||
Total | 103 | 118 | 104 | ||
Joint ventures [member] | |||||
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||||
Revenue | 60 | 123 | |||
Net profit for the year | 15 | 41 | £ 32 | ||
Total assets | 84 | 112 | |||
Total liabilities | (45) | (58) | |||
Net assets | 39 | 54 | |||
Goodwill | 64 | 64 | |||
Total | £ 103 | £ 118 |
Property, Plant and Equipment -
Property, Plant and Equipment - Additional Information (Detail) - GBP (£) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment | £ 162,000,000 | £ 180,000,000 |
Freehold land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Depreciation | 0 | 0 |
Property, plant and equipment | £ 13,000,000 | £ 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] | Bottom of range [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment estimated useful lives | 3 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 | |
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 | |
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 | |
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 | |
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 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | £ 180 | |
At end of year | 162 | £ 180 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 815 | 863 |
Acquisitions | 3 | 1 |
Capital expenditure | 43 | 47 |
Disposals | (118) | (67) |
Exchange translation differences | (10) | (29) |
At end of year | 733 | 815 |
Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 635 | 665 |
Charge for the year | 60 | 58 |
Disposals | (118) | (66) |
Exchange translation differences | (6) | (22) |
At end of year | 571 | 635 |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 70 | |
At end of year | 63 | 70 |
Land and buildings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 213 | 223 |
Acquisitions | 1 | |
Capital expenditure | 4 | 5 |
Disposals | (7) | (8) |
Exchange translation differences | (4) | (8) |
At end of year | 206 | 213 |
Land and buildings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 143 | 146 |
Charge for the year | 9 | 9 |
Disposals | (7) | (7) |
Exchange translation differences | (2) | (5) |
At end of year | 143 | 143 |
Fixtures and fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 110 | |
At end of year | 99 | 110 |
Fixtures and fittings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 602 | 640 |
Acquisitions | 3 | |
Capital expenditure | 39 | 42 |
Disposals | (111) | (59) |
Exchange translation differences | (6) | (21) |
At end of year | 527 | 602 |
Fixtures and fittings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 492 | 519 |
Charge for the year | 51 | 49 |
Disposals | (111) | (59) |
Exchange translation differences | (4) | (17) |
At end of year | £ 428 | £ 492 |
Financial Instruments - Liquidi
Financial Instruments - Liquidity Risk - Additional Information (Detail) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020GBP (£) | Dec. 31, 2019GBP (£) | Dec. 31, 2020USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||
Maximum maturity amount of short-term debt | $ | $ 2,000,000,000 | ||
Other payables | £ 49 | £ 108 | |
Committed bank facility | £ 2,198 | 3,000,000,000 | |
Additional committed bank facility | $ | $ 600,000,000 | ||
Additional committed bank facility maturity date | 2021-04 | ||
Committed bank facility maturity date | 2024-07 | ||
Maturity period of borrowings that can be covered by the bank facility and by utilising available cash resources | 18 months | ||
Derivatives not designated as hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial assets | £ 6 | 4 | |
Derivative instruments not designated as hedging instruments, at fair value | 6 | 17 | |
Fair value hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial liabilities | 4 | ||
Derivative financial assets | 114 | 50 | |
Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial liabilities | 6 | 13 | |
Derivative financial assets | £ 37 | £ 27 | |
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, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | £ (7,123) | £ (6,414) |
Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (7,841) | (7,177) |
Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (847) | (2,060) |
Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (959) | (2,214) |
1-2 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (79) | (512) |
1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (198) | (616) |
2-3 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (695) | (90) |
2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (775) | (191) |
3-4 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (1,119) | (705) |
3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (1,209) | (782) |
4-5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (701) | (462) |
4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (704) | (536) |
More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (3,682) | (2,585) |
More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (3,966) | (2,838) |
Fixed rate borrowings [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (7,343) | (6,015) |
Fixed rate borrowings [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (576) | (1,332) |
Fixed rate borrowings [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (157) | (528) |
Fixed rate borrowings [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (737) | (134) |
Fixed rate borrowings [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (1,173) | (732) |
Fixed rate borrowings [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (737) | (498) |
Fixed rate borrowings [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (3,963) | (2,791) |
Floating rate borrowings [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (307) | (779) |
Floating rate borrowings [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (307) | (779) |
Lease liabilities [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (324) | (388) |
Lease liabilities [member] | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (103) | (104) |
Lease liabilities [member] | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (72) | (92) |
Lease liabilities [member] | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (57) | (62) |
Lease liabilities [member] | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (41) | (50) |
Lease liabilities [member] | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (17) | (32) |
Lease liabilities [member] | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (34) | (48) |
Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (6,978) | (6,367) |
Carrying amount [member] | Fixed rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (6,541) | (5,293) |
Carrying amount [member] | Floating rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (307) | (779) |
Carrying amount [member] | Lease liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (275) | (342) |
Cross-currency interest rate swaps [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (573) | (635) |
Derivative financial assets | 614 | 593 |
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 | (32) | (41) |
Derivative financial assets | 30 | 31 |
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 | (8) | (16) |
Derivative financial assets | 7 | 7 |
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 | (29) | (16) |
Derivative financial assets | 26 | 7 |
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 | (9) | (35) |
Derivative financial assets | 7 | 26 |
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 | (495) | (15) |
Derivative financial assets | 544 | 7 |
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) | |
Derivative financial assets | 515 | |
Cross-currency interest rate swaps [member] | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (3) | (1) |
Derivative financial assets | 66 | 14 |
Forward foreign exchange contracts [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2,010) | (2,548) |
Derivative financial assets | 2,043 | 2,551 |
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 | (1,416) | (1,984) |
Derivative financial assets | 1,425 | 1,977 |
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 | (356) | (351) |
Derivative financial assets | 370 | 354 |
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 | (214) | (179) |
Derivative financial assets | 223 | 185 |
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 | (24) | (34) |
Derivative financial assets | 25 | 35 |
Forward foreign exchange contracts [member] | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (9) | (29) |
Derivative financial assets | 42 | 32 |
Interest Rate Derivatives | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (4) | |
Derivative financial assets | 59 | 48 |
Interest Rate Derivatives | Within 1 year [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1) | |
Derivative financial assets | 20 | 19 |
Interest Rate Derivatives | 1-2 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial assets | 18 | 10 |
Interest Rate Derivatives | 2-3 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial assets | 13 | 8 |
Interest Rate Derivatives | 3-4 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial assets | 6 | 8 |
Interest Rate Derivatives | 4-5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1) | |
Derivative financial assets | 1 | 3 |
Interest Rate Derivatives | More than 5 years [member] | Aggregate Contractual Cash Flow | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | |
Derivative financial assets | 1 | |
Interest Rate Derivatives | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (4) | |
Derivative financial assets | £ 49 | £ 35 |
Financial Instruments - Market
Financial Instruments - Market Risk - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
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 | £ 803 | £ 749 |
Decrease in net borrowings | £ 713 | 526 |
Assumed strengthening of foreign currencies | 10.00% | |
Increase the carrying value of net assets, excluding net borrowings | £ 803 | 749 |
Increase net borrowings | 713 | 526 |
Decrease in net profit | 95 | 129 |
Increase in net profit | £ 95 | 129 |
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 | 65.00% | |
Borrowings, interest rate basis | 1.00% | |
Decrease in net finance costs | £ 23 | 31 |
Increase in net finance costs | 23 | 31 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | £ 88 | £ 138 | £ 114 | £ 111 |
Trade receivables | 1,757 | 1,858 | ||
Up to one month [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 170 | 215 | ||
Two to three months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 83 | 108 | ||
Four to six months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 34 | 39 | ||
Greater than six months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 46 | 45 | ||
Credit risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | £ 88 | £ 138 | ||
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 banks rated A-/A3 or better | 77.00% | 93.00% |
Financial Instruments - Summa_2
Financial Instruments - Summary of Fair Value Hedges (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (2,045) | £ (2,496) |
€550m loan notes and €550m interest rate swaps maturing 2020 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | (466) | |
Fixed rate | 2.50% | |
Floating rate | Euribor+1.1% | |
€500m bond and €500m interest rate swaps maturing 2021 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (448) | (423) |
Fixed rate | 0.40% | |
Floating rate | Euribor+0.3% | |
$700m bond and $700m interest rate swaps maturing 2023 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (513) | (528) |
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 | £ (448) | (423) |
Fixed rate | 1.00% | |
Floating rate | Euribor+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 | £ (490) | (505) |
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 | £ (146) | £ (151) |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | £ (1) | ||
Fair value movement gain/(loss) £m | 1 | £ (1) | |
Ending balance | (1) | ||
Carrying values £m | £ (2,049) | (2,500) | (2,628) |
USD debt [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | (13) | 13 | 12 |
Fair value movement gain/(loss) £m | (25) | (26) | |
Exchange gain/(loss) £m | 2 | 1 | |
Ending balance | (36) | (13) | 13 |
Carrying values £m | (701) | (699) | (701) |
USD debt Related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | 13 | (14) | (12) |
Fair value movement gain/(loss) £m | 25 | 27 | (1) |
Exchange gain/(loss) £m | (2) | (1) | |
Ending balance | 36 | 13 | (14) |
Carrying values £m | 36 | 13 | (14) |
total of USD debt and Interest rate swaps [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | (1) | ||
Fair value movement gain/(loss) £m | 1 | (1) | |
Ending balance | (1) | ||
Carrying values £m | (665) | (686) | (715) |
EUR debt [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | (39) | (39) | (17) |
Fair value movement gain/(loss) £m | (47) | (2) | (21) |
Exchange gain/(loss) £m | 3 | 2 | (1) |
Ending balance | (83) | (39) | (39) |
Carrying values £m | (1,467) | (1,853) | (1,952) |
EUR Debt related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | 39 | 39 | 17 |
Fair value movement gain/(loss) £m | 47 | 2 | 21 |
Exchange gain/(loss) £m | (3) | (2) | 1 |
Ending balance | 83 | 39 | 39 |
Carrying values £m | 83 | 39 | 39 |
Net Relating to USD, GBP, EUR And CHF Debt [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | (52) | (26) | (5) |
Fair value movement gain/(loss) £m | (72) | (28) | (21) |
Exchange gain/(loss) £m | 5 | 2 | |
Ending balance | (119) | (52) | (26) |
Carrying values £m | (2,168) | (2,552) | (2,653) |
Total of Eur debt and interest rate swaps [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Carrying values £m | (1,384) | (1,814) | (1,913) |
Total related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Beginning balance | 52 | 25 | 5 |
Fair value movement gain/(loss) £m | 72 | 29 | 20 |
Exchange gain/(loss) £m | (5) | (2) | |
Ending balance | 119 | 52 | 25 |
Carrying values £m | £ 119 | £ 52 | £ 25 |
Financial Instruments - Fair Va
Financial Instruments - Fair Value Hedges - Additional Information (Detail) - Fair value hedge de-designated in 2008 [member] - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Fair value adjustments to borrowings de-designated in a fair value hedge relationship | £ 15 | £ 19 |
Cash inflow from de-designation of derivatives previously held at fair value | 62 | |
Amortisation of fair value adjustments | £ 3 | £ 3 |
Financial Instruments - Cash Fl
Financial Instruments - Cash Flow Hedges - Additional Information (Detail) € in Millions, £ in Millions | 12 Months Ended | ||
Dec. 31, 2020GBP (£) | Dec. 31, 2019GBP (£) | May 31, 2015EUR (€) | |
Disclosure Of Financial Instruments [Abstract] | |||
Bonds issued | € | € 600 | ||
Deferred tax debit in respect of hedge reserve gains (losses) | £ 4 | ||
Cash flow hedge gain (loss) recognised in revenue | 18 | £ 35 | |
Cash flow hedge gain (loss) recognised in finance costs | 4 | ||
Tax credits in relation to cash flow hedges | £ 5 | £ 6 |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | £ 7 | £ (44) | |
(Losses)/gains arising during the period | (6) | 16 | £ (59) |
Transfer to net profit from cash flow hedge reserve | 22 | 35 | 17 |
Hedge reserve balance at the end of the period: gains/(Losses) deferred | 23 | 7 | (44) |
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 | ||
(Losses)/gains arising during the period | 4 | (1) | |
Hedge reserve balance at the end of the period: gains/(Losses) deferred | 4 | 1 | |
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) | (7) | |
(Losses)/gains arising during the period | (1) | ||
Hedge reserve balance at the end of the period: gains/(Losses) deferred | (8) | (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 | 14 | (38) | |
(Losses)/gains arising during the period | (9) | 17 | |
Transfer to net profit from cash flow hedge reserve | 22 | 35 | |
Hedge reserve balance at the end of the period: gains/(Losses) deferred | £ 27 | £ 14 | £ (38) |
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, 2020GBP (£) |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | £ 33 |
Within 1 year [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 10 |
1-2 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 13 |
2-3 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 9 |
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 | 27 |
Foreign currency hedge reserve [member] | Within 1 year [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 4 |
Foreign currency hedge reserve [member] | 1-2 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 13 |
Foreign currency hedge reserve [member] | 2-3 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 9 |
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 | 1,138 |
Principal Amount of Hedges [Member] | Within 1 year [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 499 |
Principal Amount of Hedges [Member] | 1-2 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 392 |
Principal Amount of Hedges [Member] | 2-3 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | 215 |
Principal Amount of Hedges [Member] | 3-4 years [member] | |
Disclosure of detailed information about financial instruments [line items] | |
Gains/(losses) deferred in hedge reserve | £ 32 |
Inventories and Pre-publicati_3
Inventories and Pre-publication Costs - Summary of Inventories and Pre-Publication Costs (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Information About Inventories Explanatory [Abstract] | ||
Raw materials | £ 2 | £ 2 |
Pre-publication costs | 204 | 181 |
Finished goods | 34 | 34 |
Total | £ 240 | £ 217 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Trade And Other Receivables [Abstract] | |||
Trade receivables | £ 1,757 | £ 1,858 | |
Loss allowance | (99) | (88) | £ (87) |
Trade receivables before prepayments and accrued income | 1,658 | 1,770 | |
Prepayments and accrued income | 207 | 236 | |
Current tax receivable | 44 | 28 | |
Net finance lease receivable | 18 | 33 | |
Total | £ 1,927 | £ 2,067 |
Trade and Other Receivables -_2
Trade and Other Receivables - Summary of Movements in Loss Allowance (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Trade And Other Receivables [Abstract] | ||
At start of year | £ 88 | £ 87 |
Charge for the year | 19 | 8 |
Trade receivables written off | (8) | (4) |
Exchange translation differences | (3) | |
At end of year | £ 99 | £ 88 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Trade And Other Payables [Abstract] | ||
Trade payables | £ 154 | £ 173 |
Accruals | 634 | 684 |
Social security and other taxes | 174 | 129 |
Other payables | 352 | 422 |
Deferred income | 1,946 | 2,071 |
Total | £ 3,260 | £ 3,479 |
Borrowings - Summary of types o
Borrowings - Summary of types of Borrowings both Current and Non-current (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | £ 7,123 | £ 6,414 |
Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 307 | 779 |
Term debt, excluding fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 4,147 | 2,508 |
Lease liabilities [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 275 | 342 |
Term debt, in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 2,169 | 2,552 |
Term debt, previously in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 225 | 233 |
Within 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 847 | 2,060 |
Within 1 year [member] | Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 307 | 779 |
Within 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 716 | |
Within 1 year [member] | Lease liabilities [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 92 | 93 |
Within 1 year [member] | Term debt, in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 448 | 472 |
More than 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 6,276 | 4,354 |
More than 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 4,147 | 1,792 |
More than 1 year [member] | Lease liabilities [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 183 | 249 |
More than 1 year [member] | Term debt, in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | 1,721 | 2,080 |
More than 1 year [member] | Term debt, previously in fair value hedging relationships [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Total | £ 225 | £ 233 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) € in Millions, £ in Millions, $ in Millions, ¥ in Billions | 12 Months Ended | |||||
Dec. 31, 2020GBP (£) | Dec. 31, 2019GBP (£) | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2020JPY (¥) | Dec. 31, 2019EUR (€) | |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||
Total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) | £ 4,843 | £ 3,491 | ||||
Proportion of ownership interest in subsidiary | 100.00% | |||||
Committed bank facility | £ 2,198 | $ 3,000 | ||||
Term debt | 560 | 525 | € 600 | € 600 | ||
Fair value of derivative financial instruments | 70 | 21 | ||||
Term debt, in fair value hedging relationships [member] | ||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||
Total fair value of term debt | 2,235 | 2,629 | ||||
Term debt, previously in fair value hedging relationships [member] | ||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||
Total fair value of term debt | £ 270 | £ 276 | ||||
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 | $ | 1,263 | |||||
Committed bank facility maturity year | 2023 | |||||
Tranche Three [member] | ||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||
Committed bank facility | $ | 1,706 | |||||
Committed bank facility maturity year | 2024 | |||||
Tranche Four [member] | ||||||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||||||
Committed bank facility | £ 443 | $ 605 | ¥ 62.5 | |||
Committed bank facility maturity year | 2021 |
Borrowings - Summary of Repayme
Borrowings - Summary of Repayment Years for Borrowings (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 307 | £ 779 |
Term debt | 6,541 | 5,293 |
Lease liabilities | 275 | 342 |
Total | 7,123 | 6,414 |
Within 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 307 | 779 |
Term debt | 448 | 1,188 |
Lease liabilities | 92 | 93 |
Total | 847 | 2,060 |
1-2 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | |
Term debt | 32 | 425 |
Lease liabilities | 47 | 87 |
Total | 79 | 512 |
2-3 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | |
Term debt | 651 | 33 |
Lease liabilities | 44 | 57 |
Total | 695 | 90 |
3-4 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | |
Term debt | 1,082 | 658 |
Lease liabilities | 37 | 47 |
Total | 1,119 | 705 |
4-5 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | |
Term debt | 673 | 433 |
Lease liabilities | 28 | 29 |
Total | 701 | 462 |
More than 5 years [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | |
Term debt | 3,655 | 2,556 |
Lease liabilities | 27 | 29 |
Total | 3,682 | 2,585 |
More than 1 year [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 0 | |
Term debt | 6,093 | 4,105 |
Lease liabilities | 183 | 249 |
Total | £ 6,276 | £ 4,354 |
Borrowings - Analysis of Borrow
Borrowings - Analysis of Borrowings by Currency (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 307 | £ 779 |
Term debt | 6,541 | 5,293 |
Lease liabilities | 275 | 342 |
Total | 7,123 | 6,414 |
US dollars [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 228 | 309 |
Term debt | 2,751 | 2,915 |
Lease liabilities | 120 | 168 |
Total | 3,099 | 3,392 |
Pounds Sterling [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 9 | |
Lease liabilities | 60 | 71 |
Total | 69 | 71 |
Euro [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 20 | 423 |
Term debt | 3,790 | 2,378 |
Lease liabilities | 61 | 70 |
Total | 3,871 | 2,871 |
Other Currencies [member] | ||
Disclosure Of Detailed Information About Borrowings [Line Items] | ||
Short-term bank loans, overdrafts and commercial paper | 50 | 47 |
Lease liabilities | 34 | 33 |
Total | £ 84 | £ 80 |
Lease Arrangements - Summary of
Lease Arrangements - Summary of Right of Use Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Quantitative Information About Rightofuse Assets [Abstract] | ||
At start of year | £ 264 | £ 263 |
Additions | 25 | 62 |
Acquisitions | 1 | 4 |
Remeasurement | 12 | 29 |
Disposals | (1) | (3) |
Depreciation | (77) | (82) |
Exceptional costs in Exhibitions | (11) | |
Exchange translation differences | 3 | (9) |
At end of year | £ 216 | £ 264 |
Lease Arrangements - Summary _2
Lease Arrangements - Summary of Lease Liability (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Lease Liabilities [Line Items] | ||
Total lease liabilities | £ (275) | £ (342) |
Property [member] | ||
Disclosure Of Lease Liabilities [Line Items] | ||
Current lease liabilities | (88) | (87) |
Non-current lease liabilities | (178) | (242) |
Non-property [member] | ||
Disclosure Of Lease Liabilities [Line Items] | ||
Current lease liabilities | (4) | (6) |
Non-current lease liabilities | £ (5) | £ (7) |
Lease Arrangements - Additional
Lease Arrangements - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Presentation Of Leases For Lessee [Abstract] | |||
Interest expense on lease liabilities | £ 12 | £ 15 | £ 14 |
Leases with future cash outflows | £ 9 | £ 9 |
Lease Arrangements - Summary _3
Lease Arrangements - Summary of Finance Lease Receivable (Detail) - GBP (£) £ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Presentation Of Leases For Lessee [Abstract] | ||
Net finance lease receivable | £ 18 | £ 33 |
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, 2020 | Dec. 31, 2019 | |
Disclosure of classes of share capital [line items] | ||
At start of year | £ 286 | |
At end of year | £ 286 | £ 286 |
RELX PLC [member] | ||
Disclosure of classes of share capital [line items] | ||
At start of year | 1,980,802,659 | 2,011,043,101 |
Issue of ordinary shares | 1,496,653 | 3,059,558 |
Issue of bonus share | 1 | |
Cancellation of shares | (33,300,001) | |
At end of year | 1,982,299,312 | 1,980,802,659 |
At start of year | £ 286 | £ 290 |
Issue of ordinary shares | 1 | |
Cancellation of shares | (5) | |
At end of year | £ 286 | £ 286 |
Share Capital, Share Premium _4
Share Capital, Share Premium and Shares Held in Treasury - Additional Information (Detail) - GBP (£) £ / shares in Units, £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of classes of share capital [line items] | |||
Consideration amount for employee benefit trust shares purchased | £ 37 | £ 37 | £ 43 |
Total amount held by the Employee Benefit Trust | £ 97 | 94 | £ 90 |
RELX NV [member] | |||
Disclosure of classes of share capital [line items] | |||
Nominal value of bonus share issued | 4,000 | ||
Shares cancelled through capital reduction to create distributable reserves | £ 4,000 | ||
RELX PLC [member] | |||
Disclosure of classes of share capital [line items] | |||
Total amount held employee benefit trust | 1,800,000 | ||
Shares held by the employee benefit trust | 6,192,953 | 6,753,010 | 7,130,366 |
Shares held in treasury | 50,087,679 | 42,267,027 | 42,023,020 |
Cancellation of treasury shares | 0 | 33,300,000 | |
RELX PLC [member] | Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
Repurchase of ordinary shares | 7,800,000 | 33,500,000 | 26,900,000 |
Average price paid per share repurchased | £ 19.18 | ||
Aggregate consideration for repurchase of shares | £ 150 | £ 600 |
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 | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of classes of share capital [line items] | |||
At start of year | 1,980,800,000 | ||
Issue of ordinary shares | 1,496,653 | 3,059,558 | |
At end of year | 1,982,300,000 | 1,980,800,000 | |
Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period, treasury shares | (49,000,000) | ||
Net release/(purchase) of shares by the Employee Benefit Trust | 500,000 | ||
Repurchase of ordinary shares | (7,800,000) | (33,500,000) | (26,900,000) |
At end of year, treasury shares | (56,300,000) | (49,000,000) | |
Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of year | 1,931,782,622 | 1,961,900,000 | |
Issue of ordinary shares | 1,500,000 | 3,100,000 | |
Net release/(purchase) of shares by the Employee Benefit Trust | 500,000 | 400,000 | |
Repurchase of ordinary shares | (7,800,000) | (33,500,000) | |
At end of year | 1,926,018,680 | 1,931,782,622 | 1,961,900,000 |
Share Capital, Share Premium _6
Share Capital, Share Premium and Shares Held in Treasury - Summary of Number of Ordinary Shares (Parenthetical) (Detail) - shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
RELX PLC [member] | Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
Total shares in issue net of treasury shares | 1,926,018,680 | 1,931,782,622 | 1,961,900,000 |
Other Reserves - Summary of Oth
Other Reserves - Summary of Other Reserves (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other reserves [line items] | |||
RELX PLC shareholders | £ 1,224 | £ 1,505 | £ 1,422 |
Dividends paid | (886) | (851) | (804) |
Actuarial losses on defined benefit pension schemes | (155) | (137) | (91) |
Fair value movements on cash flow hedges | (6) | 16 | (59) |
Transfer to net profit from cash flow hedge reserve | 22 | 35 | 17 |
Tax recognised in other comprehensive income | 35 | 15 | 24 |
Increase in share based remuneration reserve (net of tax) | 27 | 33 | 35 |
Issue of ordinary shares, net of expenses | (16) | (29) | (21) |
Put option | 103 | ||
Hedge reserve [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 7 | ||
Fair value movements on cash flow hedges | (6) | ||
Transfer to net profit from cash flow hedge reserve | 22 | ||
Tax recognised in other comprehensive income | (4) | ||
Other reserves, at end of year | 19 | 7 | |
Other Reserves [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 972 | ||
RELX PLC shareholders | 1,224 | ||
Dividends paid | (880) | ||
Actuarial losses on defined benefit pension schemes | (155) | ||
Tax recognised in other comprehensive income | 39 | ||
Increase in share based remuneration reserve (net of tax) | 27 | ||
Settlement of share awards | (34) | ||
Disposal of non-controlling interests | 2 | ||
Other reserves, at end of year | 1,195 | 972 | |
Other reserves [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 979 | 984 | |
RELX PLC shareholders | 1,224 | 1,505 | |
Dividends paid | (880) | (842) | |
Actuarial losses on defined benefit pension schemes | (155) | (137) | |
Fair value movements on cash flow hedges | (6) | 16 | |
Transfer to net profit from cash flow hedge reserve | 22 | 35 | |
Tax recognised in other comprehensive income | 35 | 15 | |
Increase in share based remuneration reserve (net of tax) | 27 | 33 | |
Bonus issue of ordinary share | (4,000) | ||
Cancellation of bonus share | 4,000 | ||
Cancellation of shares | (499) | ||
Settlement of share awards | (34) | (33) | |
Put option | (103) | ||
Disposal of non-controlling interests | 2 | 5 | |
Other reserves, at end of year | £ 1,214 | £ 979 | £ 984 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||
Deemed benefits provided to former directors | £ 0 | £ 0 | £ 0 |
Loans, advances or guarantees on behalf of directors | 0 | ||
Aggregate gains made by executive directors | 0 | 0 | 0 |
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 | 0 | 4,000,000 | 3,000,000 |
Revenue from rendering of goods and services, related party transactions | 100,000 | 100,000 | 100,000 |
Amounts receivable, related party transactions | 800,000 | 5,000,000 | 2,000,000 |
Amounts payable, related party transactions | £ 400,000 | £ 500,000 | £ 900,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Key Management Personnel Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Salaries, other short-term employee benefits and non-executive fees | £ 6 | £ 7 | £ 7 |
Post-employment benefits | 1 | 1 | 1 |
Share based remuneration | 1 | 7 | 7 |
Total | £ 8 | £ 15 | £ 15 |
Related Party Transactions - _2
Related Party Transactions - Summary of Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Executive directors salary | £ 2,034 | £ 1,984 | £ 1,935 |
Executive directors benefits | 99 | 101 | 99 |
Executive directors annual incentive | 2,623 | 3,038 | 3,033 |
Executive directors cost of share based remuneration | 595 | 7,343 | 7,003 |
Executive directors cost of pension provision | 687 | 725 | 741 |
Total executive directors | £ 6,038 | £ 13,191 | £ 12,811 |
Related Party Transactions - _3
Related Party Transactions - Summary of Non-Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Fees and benefits | £ 1,558 | £ 1,569 | £ 1,634 |
Exchange Rates - Summary of Exc
Exchange Rates - Summary of Exchange Rates in Preparing Consolidated Statements (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Euro to sterling [member] | Income statement [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Average foreign exchange rate | 1.12 | 1.14 | 1.13 |
Euro to sterling [member] | Statement of financial position [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Closing foreign exchange rate | 1.12 | 1.18 | |
US dollars to sterling [member] | Income statement [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Average foreign exchange rate | 1.28 | 1.28 | 1.34 |
US dollars to sterling [member] | Statement of financial position [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Closing foreign exchange rate | 1.37 | 1.33 |
Related undertakings - Summary
Related undertakings - Summary of Full list of Related Parties - Australia to Italy (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Australia [member] | Emailage Pty Ltd [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage Pty Ltd |
Percentage of undertaking | 100.00% |
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] | 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] | F4F Europe NV/SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | F4F Europe NV/SA |
Percentage of undertaking | 100.00% |
Reg office | Guldensporenpark 36D, 9820 Merelbeke, Belgium |
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 |
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 da Assembleia no 100, 6th Floor, RJ Centro, Rio de Janiero, 20011-904, Brazil |
BRAZIL [member] | Emailage Informática Ltda [member] | Quotas | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage Informática Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Alvaro Anes 46, 3 Andar, Sâo Paulo, 05421-010, Brazil |
BRAZIL [member] | Fircosoft Brazil Consultoria e Servicos de Informatica Ltda [member] | Quotas | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft Brasil 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 | |
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 | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Serviços de Análise de Risco Ltda |
Percentage of undertaking | 100.00% |
Reg office | Alameda Rio Negro, 161 Alphaville Industrial, Barueri SP 06.455-000, 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 |
Percentage of undertaking | 100.00% |
Reg office | Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, 01310-300,Brazil |
BRAZIL [member] | Reed Exhibitions Alcantara Machado Ltda [member] | Quotas | |
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] | Quotas | |
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,Brazil |
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,M5V 3B1, Canada |
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 | 555 RIichmond Street West, Toronto, Ontario,M5V 3B1, Canada |
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 |
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 (Guangzhou) 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 District Guangzhou, 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 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 | 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 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 | 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 G-49, Building No 9, Dubai Media City, Post Box 502425, Dubai, United Arab |
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 Emirates 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] | Ordinary shares [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] | Ordinary shares [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 SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions SA |
Percentage of undertaking | 100.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | LexisNexis Business Information Solutions Holding SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions Holding SA |
Percentage of undertaking | 100.00% |
Reg office | Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) |
France [member] | LexisNexis International Development & Services SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis International Development & Services SAS |
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 SA [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX France SA |
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] | 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 | Volklinger Strasse 4, 40219, Dusseldorf, 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 | Volklinger Strasse 4, 40219, Dusseldorf, 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 | Steinhauserstrasse 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] | JC Exhibition and Promotion Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | JC Exhibition and Promotion Ltd (65%) |
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 (91%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mlex Asia Ltd (91%) |
Percentage of undertaking | 91.00% |
Reg office | 3901, 39th Floor Hopewell Center, 183 Queens Road East, Wanchai, 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] | 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] | 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 , Karnataka, 560025, India |
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 (70%) |
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 (72%) |
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 | Menara Citicon Level 8. Unit 8011 & 8012 Jl. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 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 Slipi Palmerah Jakarta Barat 11410 Indonesia |
Indonesia [member] | PT RELX Information Analytics Indonesia [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT RELX Information Analytics Indonesia |
Percentage of undertaking | 100.00% |
Reg office | Gedung World Trade Center, 3 LT 20 Spaces JL Jend Sudirman Kav 29-31 RT/RW |
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] | Emailage International Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage International Ltd |
Percentage of undertaking | 100.00% |
Reg office | 6th Floor, South Bank House, Barrow Street, Dublin 4, 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] | 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] | 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, 2020 | |
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, Republic of |
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, Republic of Korea |
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, Republic of Korea |
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 | Suite 29-1, Level 29, Vertical Corporate, Tower B, Avenue 10, The Vertical, 59200 Bangsar South City, 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 |
Macau [member] | Reed Exhibitions Macau Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Macau Ltd |
Percentage of undertaking | 100.00% |
Reg office | Rua De Xangai, No. 175 Edif. Associacao Comercial de Macau, 11 Andar, Bloco K, Macau |
Mexico. | Emailage MCA, SA de CV | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage MCA, SA de CV |
Percentage of undertaking | 100.00% |
Reg office | DVNA Del Valle-Nunez y Asociados, Goldsmith No 37 Desp 803, Col Planco Chapultepe, Ciudad de Viver, 11.560,México |
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 de México, México |
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 de México, México |
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] | Common 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 City, Metro Manila, 1101, Philippines |
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 | Sw. Antoniego 2/4 50-073, Wroc£aw,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] | 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 | 2-y Syromyatnichesky per.1, Delta Plaza business center, 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 | 2-y Syromyatnichesky per.1, Delta Plaza business center, 105120, Moscow, Russian Federation |
Russia [member] | Real estate events direct [member] | Ordinary shares [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, Russian |
Russia [member] | Relx ooo [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX OOO |
Percentage of undertaking | 100.00% |
Reg office | 2-y Syromyatnichesky per.1, Delta Plaza business center, 105120, Moscow, 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 Federation Partizan st. 152, Office 505, 350049, Krasnodar, Russian Federation |
Saudi Arabia [member] | Reed Sunaidi Exhibitions LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Sunaidi Exhibitions LLC |
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 | Emailage Pte. Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage Pte. Ltd |
Percentage of undertaking | 100.00% |
Reg office | 120 Lower Delta Road #12-02, Cendex Centre, Singapore, 169208 |
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 | 8 Robinson Road #03-00 ASO Building Singapore 048544 |
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 |
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 (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 Academic (Pty) Ltd (78%) [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 Risk Management (Pty) Ltd (78%) [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 (78%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Property Payment Exchange (SA) (Pty) Ltd (78%) |
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] | 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 SL [member] | Participations shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Espana SL |
Percentage of undertaking | 100.00% |
Reg office | C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona, Spain |
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 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] | Ordinary shares [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] | RELX Holding (Thailand) Co., Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Holding (Thailand) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 14th Floor, CTI Tower, 191/70-73 Ratchadapisek Road, Khwaeng Klongtoey, Khet, Klongtoey, Bangkok, Thailand |
Thailand [member] | RELX Information Analytics (Thailand) Co Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Information Analytics (Thailand) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 2 Ploenchit Centre, Room 7, Floor G., Sukhumvit Road, Klongtoey, Bangkok, 10110, Thailand |
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] | ICIS Benchmarking Europe B.V [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ICIS Benchmarking Europe 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] | LNRS Data Services BV [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LNRS Data Services BV |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, 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. |
Percentage of undertaking | 33.00% |
Reg office | Spaklerweg 53, 1114 AE Amsterdam-Duivendrecht |
Netherlands [member] | RELX Employment Company B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Employment Company 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 |
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 Şişi-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 Turkey Mah. Hakkı Yeten Cad. No:10/C, Selenium Plaza Kat:5,6 Fulya, Beşiktaş İstanbul, 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, |
United Kingdom [member] | Apply Financial Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Apply Financial 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 | Lexis House, 30 Farringdon Street, London, EC4A 4HH, 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 | Lexis House, 30 Farringdon Street, London, EC4A 4HH, 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 | Lexis House, 30 Farringdon Street, London, EC4A 4HH, 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 | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, 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 Eye, 1 Procter Street, London, WC1V 6EU, 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 | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
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 | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
United Kingdom [member] | Emailage Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
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 | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Gamer Events Ltd [member] | 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] | Gamer Network Ltd | Class A 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] | Gamer Network Ltd | Class B 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] | Gamer Network Ltd | C 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] | Gamer Network Ltd | D 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 [member] | 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] | Insurance Initiatives Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Insurance Initiatives Ltd |
Percentage of undertaking | 100.00% |
Reg office | Third Floor, City Buildings, Carrington Street, Nottingham, NG1 7FG |
United Kingdom [member] | Legend Exhibitions Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Legend Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | LexisNexis Risk Solutions UK Ltd [member] | 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 | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | LNRS Data Services Holdings Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LNRS Data Services HoldingsLtd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | LNRS Data Services Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LNRS Data Services Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Mack Brooks Events Ltd [member] | 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 [member] | 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 (France) Ltd [member] | 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 [member] | 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 [member] | 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] | MCM Central Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Central Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | MCM Expo Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Expo Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mendeley Ltd [member] | 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] | MLex Ltd [member] | 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 [member] | 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] | NLife Ltd [member] | 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) Ltd [member] | 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 [member] | 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 [member] | 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 [member] | 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 Ltd [member] | Deferred Ordinary Shares [member] | |
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] | RE (EPS) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (EPS) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RE (HPL) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (HPL) 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] | RE Secretaries Ltd [member] | 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] | RE (SOE) Ltd [member] | 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] | 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 (UIG) Ltd [member] | 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 Ltd [member] | 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] | Ordinary shares [member] | |
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] | Reed Nominees Ltd [member] | 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] | RELX (Holdings) Ltd [member] | 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] | RELX (Investments) plc [member] | 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] | RELX (UK) Ltd [member] | 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] | RELX Finance Ltd [member] | 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] | RELX Group plc [member] | Class R 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] | RELX Overseas Holdings Ltd [member] | 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] | REV Venture Partners Ltd [member] | 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] | SciBite Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SciBite Ltd |
Percentage of undertaking | 100.00% |
Reg office | Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, England, CB10 1DR |
United Kingdom [member] | SciBite Ltd [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SciBite Ltd |
Percentage of undertaking | 100.00% |
Reg office | Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, England, CB10 1DR |
United Kingdom [member] | SciBite Ltd [member] | C Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SciBite Ltd |
Percentage of undertaking | 100.00% |
Reg office | Biodata Innovation Centre Wellcome Genome Campus, Hinxton, Cambridge, England, CB10 1DR |
United Kingdom [member] | Snowflake Software [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Snowflake Software |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Symbiotic Technologies Operations Ltd [member] | 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 Ltd [member] | 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 Ltd [member] | 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, 2020£ / 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, 2020 | |
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] | 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] | Altiris Inc [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Altiris, 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] | 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] | Chemical Data, LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Chemical Data, LLC |
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 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 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 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] | Emailage Corporation [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Emailage Corporation |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
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] | 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] | ID Analytics LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ID Analytics LLC |
Percentage of undertaking | 100.00% |
Reg office | 1007 Church Street, Evanston IL 60201 |
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] | 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 [member] | 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] | LNRS Data Services Inc. | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LNRS Data Services Inc. |
Percentage of undertaking | 100.00% |
Reg office | 3355 West Alabama Street, Houston, TX 77098 |
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] | No Stock [member] | |
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 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] | No Stock [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] | SageStream LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SageStream LLC |
Percentage of undertaking | 100.00% |
Reg office | 1007 Church Street, Evanston IL 60201 |
US [member] | SciBite Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SciBite Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Shadow Health, Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Shadow Health, Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Shadow Holding Ventures, Inc. [member] | Common stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Shadow Holding Ventures, Inc. |
Percentage of undertaking | 100.00% |
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 2009 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 2010 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 2011 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 2012 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 2013 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] | 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 |
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 |
5 year summary - Summary of Fiv
5 year summary - Summary of Five Year Financial Information (Detail) - GBP (£) £ / shares in Units, £ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Financial Information [Line Items] | |||||
Revenue | £ 7,110 | £ 7,874 | £ 7,492 | £ 7,341 | £ 6,889 |
Reported operating profit | 1,525 | 2,101 | 1,964 | 1,905 | 1,708 |
Adjusted operating profit | 2,076 | 2,491 | 2,346 | 2,284 | 2,114 |
Reported net profit attributable to RELX PLC shareholders | 1,224 | 1,505 | 1,422 | 1,648 | 1,150 |
Adjusted net profit attributable to RELX PLC shareholders | £ 1,543 | £ 1,808 | £ 1,674 | £ 1,620 | £ 1,473 |
Reported earnings per ordinary share (pence) | £ 0.635 | £ 0.774 | £ 0.719 | ||
Adjusted earnings per ordinary share (pence) | 0.801 | 0.930 | 0.847 | ||
RELX PLC [member] | |||||
Disclosure Of Financial Information [Line Items] | |||||
Reported earnings per ordinary share (pence) | 63.5 | 77.4 | 71.9 | £ 81.6 | £ 55.8 |
Adjusted earnings per ordinary share (pence) | 80.1 | 93 | 84.7 | 80.2 | 71.4 |
Dividend per ordinary share (pence) | £ 0.470 | £ 0.457 | £ 0.421 | £ 0.394 | £ 0.3595 |