Document and Entity Information
Document and Entity Information | 18 Months Ended |
Oct. 31, 2018shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | MICRO FOCUS INTERNATIONAL PLC |
Entity Central Index Key | 1,359,711 |
Current Fiscal Year End Date | --10-31 |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Shell Company | false |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | false |
Entity Ex Transition Period | false |
Transition Report | true |
Entity Common Stock, Shares Outstanding | 436,800,513 |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Oct. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Consolidated statement of compr
Consolidated statement of comprehensive income $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017USD ($)$ / shares | Apr. 30, 2016USD ($)$ / shares | Oct. 31, 2018USD ($)$ / shares | |||
Continuing operations [Abstract] | |||||
Revenue | $ 1,077,273 | [1],[2],[3] | $ 991,233 | [2],[4],[5] | $ 4,754,398 |
Cost of sales | (216,412) | [1] | (202,530) | [4] | (1,259,306) |
Gross profit | 860,861 | [1] | 788,703 | [4] | 3,495,092 |
Selling and distribution costs | (363,133) | [1] | (312,610) | [4] | (1,670,000) |
Research and development expenses | (122,824) | [1] | (117,395) | [4] | (659,413) |
Administrative expenses | (147,512) | [1] | (111,502) | [4] | (788,855) |
Operating profit | 227,392 | [1] | 247,196 | [4] | 376,824 |
Finance costs | (96,824) | [1] | (98,357) | [4] | (350,366) |
Finance income | 979 | [1] | 1,009 | [4] | 7,654 |
Net finance costs | (95,845) | [1] | (97,348) | [4] | (342,712) |
Profit/(loss) before tax | 131,547 | [1],[6] | 149,848 | [4],[6] | 34,112 |
Taxation | (7,464) | [1],[6],[7] | (13,869) | [4],[6],[7] | 673,081 |
Profit/(loss) from continuing operations | 124,083 | [1],[6],[8] | 135,979 | [4],[6],[8] | 707,193 |
Profit from discontinued operation (attributable to equity shareholders of the company) | 33,720 | [1],[6],[8] | 26,993 | [4],[6],[8] | 76,940 |
Profit for the period | 157,803 | [1],[8] | 162,972 | [4],[8] | 784,133 |
Attributable to: | |||||
Equity shareholders of the company | 157,906 | [1],[6] | 162,894 | [4],[6] | 784,048 |
Non-controlling interests | (103) | [1],[6] | 78 | [4],[6] | 85 |
Continuing operations | |||||
Actuarial (loss)/gain on pension schemes liabilities | (217) | [1] | 1,695 | [4] | (8,949) |
Actuarial (loss)/gain on non-plan pension assets | 318 | [1] | 1,951 | [4] | (5,258) |
Deferred tax movement | (62) | [1] | (333) | [4] | 3,754 |
Discontinued operation: | |||||
Actuarial (loss)/gain on pension schemes liabilities | 619 | [1] | 1,002 | [4] | (1,465) |
Actuarial loss on non-plan pension assets | (188) | [1] | 1,153 | [4] | (529) |
Deferred tax movement | (263) | [1] | (1,412) | [4] | 527 |
Items that may be subsequently reclassified to profit or loss | |||||
Cash flow hedge movements | 86,381 | ||||
Deferred tax movement | (16,413) | ||||
Currency translation differences - continuing operations | (4,942) | [1] | (2,871) | [4] | (29,456) |
Currency translation differences - discontinued operation | (1,011) | [1] | (587) | [4] | 713 |
Other comprehensive income/(expense) for the period | (5,746) | [1] | 598 | [4] | 29,305 |
Total comprehensive income/(expense) for the period | 152,057 | [1] | 163,570 | [4] | 813,438 |
Attributable to: | |||||
Equity shareholders of the company | 152,160 | [1] | 163,492 | [4] | 813,353 |
Non-controlling interests | (103) | [1] | 78 | [4] | 85 |
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||
Continuing operations | 119,180 | [1] | 133,061 | [4] | 737,252 |
Discontinued operations | $ 32,877 | [1] | $ 30,509 | [4] | $ 76,186 |
From continuing and discontinued operations | |||||
Basic (in dollars per share) | (per share) | $ 0.6888 | [1],[6] | $ 0.7450 | [4],[6] | $ 2.0170 |
Diluted (in dollars per share) | (per share) | 0.6651 | [1],[6] | 0.7161 | [4],[6] | 1.9617 |
From continuing operations | |||||
Basic (in dollars per share) | (per share) | 0.5417 | [1],[6] | 0.6240 | [4],[6] | 1.8191 |
Diluted (in dollars per share) | (per share) | $ 0.5231 | [1],[6] | $ 0.5997 | [4],[6] | $ 1.7692 |
Before Exceptional Items [Member] | |||||
Continuing operations [Abstract] | |||||
Revenue | $ 1,077,273 | [1] | $ 991,233 | [4] | $ 4,754,398 |
Cost of sales | (213,463) | [1] | (200,358) | [4] | (1,193,898) |
Gross profit | 863,810 | [1] | 790,875 | [4] | 3,560,500 |
Selling and distribution costs | (357,654) | [1] | (308,238) | [4] | (1,630,785) |
Research and development expenses | (116,032) | [1] | (116,137) | [4] | (642,061) |
Administrative expenses | (65,474) | [1] | (91,451) | [4] | (372,674) |
Operating profit | 324,650 | [1] | 275,049 | [4] | 914,980 |
Finance costs | (96,824) | [1] | (98,357) | [4] | (344,040) |
Finance income | 979 | [1] | 1,009 | [4] | 7,101 |
Net finance costs | (95,845) | [1] | (97,348) | [4] | (336,939) |
Profit/(loss) before tax | 228,805 | [1] | 177,701 | [4] | 578,041 |
Taxation | (19,097) | [1] | (20,704) | [4] | (125,115) |
Profit/(loss) from continuing operations | 209,708 | [1] | 156,997 | [4] | 452,926 |
Profit from discontinued operation (attributable to equity shareholders of the company) | 33,720 | [1] | 26,993 | [4] | 76,940 |
Profit for the period | 243,428 | [1] | 183,990 | [4] | 529,866 |
Attributable to: | |||||
Equity shareholders of the company | 243,531 | [1] | 183,912 | [4] | 529,781 |
Non-controlling interests | (103) | [1] | 78 | [4] | 85 |
Continuing operations | |||||
Actuarial (loss)/gain on pension schemes liabilities | (217) | [1] | 1,695 | [4] | (8,949) |
Actuarial (loss)/gain on non-plan pension assets | 318 | [1] | 1,951 | [4] | (5,258) |
Deferred tax movement | (62) | [1] | (333) | [4] | 3,754 |
Discontinued operation: | |||||
Actuarial (loss)/gain on pension schemes liabilities | 619 | [1] | 1,002 | [4] | (1,465) |
Actuarial loss on non-plan pension assets | (188) | [1] | 1,153 | [4] | (529) |
Deferred tax movement | (263) | [1] | (1,412) | [4] | 527 |
Items that may be subsequently reclassified to profit or loss | |||||
Cash flow hedge movements | 86,381 | ||||
Deferred tax movement | (16,413) | ||||
Currency translation differences - continuing operations | (4,942) | [1] | (2,871) | [4] | (29,456) |
Currency translation differences - discontinued operation | (1,011) | [1] | (587) | [4] | 713 |
Other comprehensive income/(expense) for the period | (5,746) | [1] | 598 | [4] | 29,305 |
Total comprehensive income/(expense) for the period | 237,682 | [1] | 184,588 | [4] | 559,171 |
Attributable to: | |||||
Equity shareholders of the company | 237,785 | [1] | 184,510 | [4] | 559,086 |
Non-controlling interests | (103) | [1] | 78 | [4] | 85 |
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||
Continuing operations | 204,805 | [1] | 154,079 | [4] | 482,985 |
Discontinued operations | 32,877 | [1] | 30,509 | [4] | 76,186 |
Exceptional Items Adjustments [Member] | |||||
Continuing operations [Abstract] | |||||
Revenue | 0 | 0 | 0 | ||
Cost of sales | (2,949) | (2,172) | (65,408) | ||
Gross profit | (2,949) | (2,172) | (65,408) | ||
Selling and distribution costs | (5,479) | (4,372) | (39,215) | ||
Research and development expenses | (6,792) | (1,258) | (17,352) | ||
Administrative expenses | (82,038) | (20,051) | (416,181) | ||
Operating profit | (97,258) | (27,853) | (538,156) | ||
Finance costs | 0 | 0 | (6,326) | ||
Finance income | 0 | 0 | 553 | ||
Net finance costs | 0 | 0 | (5,773) | ||
Profit/(loss) before tax | (97,258) | (27,853) | (543,929) | ||
Taxation | 11,633 | 6,835 | 798,196 | ||
Profit/(loss) from continuing operations | (85,625) | (21,018) | 254,267 | ||
Profit from discontinued operation (attributable to equity shareholders of the company) | 0 | 0 | 0 | ||
Profit for the period | (85,625) | (21,018) | 254,267 | ||
Attributable to: | |||||
Equity shareholders of the company | (85,625) | (21,018) | 254,267 | ||
Non-controlling interests | 0 | 0 | 0 | ||
Continuing operations | |||||
Actuarial (loss)/gain on pension schemes liabilities | 0 | 0 | 0 | ||
Actuarial (loss)/gain on non-plan pension assets | 0 | 0 | 0 | ||
Deferred tax movement | 0 | 0 | 0 | ||
Discontinued operation: | |||||
Actuarial (loss)/gain on pension schemes liabilities | 0 | 0 | 0 | ||
Actuarial loss on non-plan pension assets | 0 | 0 | 0 | ||
Deferred tax movement | 0 | 0 | 0 | ||
Items that may be subsequently reclassified to profit or loss | |||||
Cash flow hedge movements | 0 | ||||
Deferred tax movement | 0 | ||||
Currency translation differences - continuing operations | 0 | 0 | 0 | ||
Currency translation differences - discontinued operation | 0 | 0 | 0 | ||
Other comprehensive income/(expense) for the period | 0 | 0 | 0 | ||
Total comprehensive income/(expense) for the period | (85,625) | (21,018) | 254,267 | ||
Attributable to: | |||||
Equity shareholders of the company | (85,625) | (21,018) | 254,267 | ||
Non-controlling interests | 0 | 0 | 0 | ||
Total comprehensive income/(expense) attributable to the equity shareholders of the company arises from: | |||||
Continuing operations | (85,625) | (21,018) | 254,267 | ||
Discontinued operations | $ 0 | $ 0 | $ 0 | ||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to 30 April 2017 and 30 April 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[5] | The comparatives for the 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[6] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[7] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[8] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Consolidated statement of finan
Consolidated statement of financial position - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Non-current assets [abstract] | ||
Goodwill | $ 6,805,043 | $ 2,828,604 |
Other intangible assets | 6,629,325 | 1,089,370 |
Property, plant and equipment | 144,250 | 40,956 |
Investments in associates | 0 | 11,457 |
Derivative asset | 86,381 | 0 |
Long-term pension assets | 16,678 | 22,031 |
Other non-current assets | 38,790 | 3,093 |
Total non-current assets | 13,720,467 | 3,995,511 |
Current assets [abstract] | ||
Inventories | 204 | 64 |
Trade and other receivables | 1,272,033 | 289,509 |
Current tax receivables | 24,504 | 1,637 |
Cash and cash equivalents | 620,896 | 150,983 |
Current assets before assets held for sale | 1,917,637 | 442,193 |
Assets classified as held for sale | 1,142,451 | 0 |
Total current assets | 3,060,088 | 442,193 |
Total assets | 16,780,555 | 4,437,704 |
Current liabilities [abstract] | ||
Trade and other payables | 676,917 | 170,042 |
Borrowings | 3,702 | 71,184 |
Finance leases | 13,560 | 0 |
Provisions | 57,411 | 20,142 |
Current tax liabilities | 124,071 | 42,679 |
Deferred income | 1,134,730 | 640,650 |
Current liabilities Before liabilities held for sale | 2,010,391 | 944,697 |
Current liabilities classified as held for sale | 437,699 | 0 |
Total current liabilities | 2,448,090 | 944,697 |
Non-current liabilities [abstract] | ||
Deferred income | 178,064 | 223,786 |
Borrowings | 4,842,178 | 1,490,352 |
Finance leases | 14,923 | 0 |
Retirement benefit obligations | 110,351 | 30,773 |
Long-term provisions | 35,421 | 11,937 |
Other non-current liabilities | 58,011 | 4,191 |
Current tax liabilities | 131,048 | 0 |
Deferred tax liabilities | 1,170,489 | 118,478 |
Total non-current liabilities | 6,540,485 | 1,879,517 |
Total liabilities | 8,988,575 | 2,824,214 |
Net assets | 7,791,980 | 1,613,490 |
Capital and reserves | ||
Share capital | 65,798 | 39,700 |
Share premium account | 40,961 | 192,145 |
Merger reserve | 3,724,384 | 338,104 |
Capital redemption reserve | 666,289 | 163,363 |
Hedging reserve | 69,968 | 0 |
Retained earnings | 3,275,243 | 902,183 |
Foreign currency translation deficit | (51,702) | (22,959) |
Total equity attributable to owners of the parent | 7,790,941 | 1,612,536 |
Non-controlling interests | 1,039 | 954 |
Total equity | $ 7,791,980 | $ 1,613,490 |
Consolidated statement of chang
Consolidated statement of changes in equity - USD ($) $ in Thousands | Total | Share Capital [Member] | Share Premium Account [Member] | Retained (Deficit)/ Earnings [Member] | Foreign Currency Translation Deficit [Member] | Capital Redemption Reserves [Member] | Hedging Reserve [Member] | Merger Reserve [Member] | Total Equity Attributable to Owners of the Parent [Member] | Non-controlling Interests [Member] | |
Beginning balance at Apr. 30, 2015 | $ 1,278,061 | $ 39,555 | $ 16,087 | $ (96,479) | $ (13,548) | $ 163,363 | $ 0 | $ 1,168,104 | $ 1,277,082 | $ 979 | |
Changes in equity [abstract] | |||||||||||
Profit for the financial period | 162,972 | [1],[2] | 0 | 0 | 162,894 | 0 | 0 | 0 | 0 | 162,894 | 78 |
Other comprehensive income/(expense) for the period | 598 | [1] | 0 | 0 | 4,056 | (3,458) | 0 | 0 | 0 | 598 | 0 |
Total comprehensive income/(expense) for the period | 163,570 | [1] | 0 | 0 | 166,950 | (3,458) | 0 | 0 | 0 | 163,492 | 78 |
Transactions with owners: | |||||||||||
Dividends | (105,159) | 0 | 0 | (105,159) | 0 | 0 | 0 | 0 | (105,159) | 0 | |
Share options: | |||||||||||
Issue of share capital - share options | 898 | 18 | 950 | (70) | 0 | 0 | 0 | 0 | 898 | 0 | |
Movement in relation to share options | 23,582 | 0 | 0 | 23,582 | 0 | 0 | 0 | 0 | 23,582 | 0 | |
Corporation tax on share options | 1,545 | 0 | 0 | 1,545 | 0 | 0 | 0 | 0 | 1,545 | 0 | |
Deferred tax on share options | 8,490 | 0 | 0 | 8,490 | 0 | 0 | 0 | 0 | 8,490 | 0 | |
Share reorganization and buy-back: | |||||||||||
Issue and redemption of B shares | 0 | ||||||||||
Share placement: | |||||||||||
Issue of share capital - share placement | 225,720 | 0 | 176,235 | 49,485 | 0 | 0 | 0 | 225,720 | 0 | ||
Share placement issue costs | (2,979) | 0 | (2,979) | 0 | 0 | 0 | 0 | (2,979) | 0 | ||
Reallocation of merger reserve | 0 | 0 | 0 | 180,000 | 0 | 0 | 0 | (180,000) | 0 | 0 | |
Total movements for the period | 315,667 | 18 | 174,206 | 324,823 | (3,458) | 0 | 0 | (180,000) | 315,589 | 78 | |
Ending balance at Apr. 30, 2016 | 1,593,728 | 39,573 | 190,293 | 228,344 | (17,006) | 163,363 | 0 | 988,104 | 1,592,671 | 1,057 | |
Changes in equity [abstract] | |||||||||||
Profit for the financial period | 157,803 | [2],[3] | 0 | 0 | 157,906 | 0 | 0 | 0 | 0 | 157,906 | (103) |
Other comprehensive income/(expense) for the period | (5,746) | [3] | 0 | 0 | 207 | (5,953) | 0 | 0 | 0 | (5,746) | 0 |
Total comprehensive income/(expense) for the period | 152,057 | [3] | 0 | 0 | 158,113 | (5,953) | 0 | 0 | 0 | 152,160 | (103) |
Transactions with owners: | |||||||||||
Dividends | (177,535) | 0 | 0 | (177,535) | 0 | 0 | 0 | 0 | (177,535) | 0 | |
Treasury shares purchased | (7,678) | 0 | 0 | (7,678) | 0 | 0 | 0 | 0 | (7,678) | 0 | |
Share options: | |||||||||||
Issue of share capital - share options | 1,889 | 127 | 1,852 | (90) | 0 | 0 | 0 | 0 | 1,889 | 0 | |
Movement in relation to share options | 23,952 | 0 | 0 | 23,952 | 0 | 0 | 0 | 0 | 23,952 | 0 | |
Corporation tax on share options | 4,081 | 0 | 0 | 4,081 | 0 | 0 | 0 | 0 | 4,081 | 0 | |
Deferred tax on share options | 22,996 | 0 | 0 | 22,996 | 0 | 0 | 0 | 0 | 22,996 | 0 | |
Share reorganization and buy-back: | |||||||||||
Issue and redemption of B shares | 0 | ||||||||||
Share placement: | |||||||||||
Reallocation of merger reserve | 0 | 0 | 0 | 650,000 | 0 | 0 | 0 | (650,000) | 0 | 0 | |
Total movements for the period | 19,762 | 127 | 1,852 | 673,839 | (5,953) | 0 | 0 | (650,000) | 19,865 | (103) | |
Ending balance at Apr. 30, 2017 | 1,613,490 | 39,700 | 192,145 | 902,183 | (22,959) | 163,363 | 0 | 338,104 | 1,612,536 | 954 | |
Changes in equity [abstract] | |||||||||||
Profit for the financial period | 784,133 | 0 | 0 | 784,048 | 0 | 0 | 0 | 0 | 784,048 | 85 | |
Other comprehensive income/(expense) for the period | 29,305 | 0 | 0 | (11,920) | (28,743) | 0 | 69,968 | 0 | 29,305 | 0 | |
Total comprehensive income/(expense) for the period | 813,438 | 0 | 0 | 772,128 | (28,743) | 0 | 69,968 | 0 | 813,353 | 85 | |
Transactions with owners: | |||||||||||
Dividends | (542,161) | 0 | 0 | (542,161) | 0 | 0 | 0 | 0 | (542,161) | 0 | |
Share options: | |||||||||||
Issue of share capital - share options | 5,689 | 251 | 5,499 | (61) | 0 | 0 | 0 | 0 | 5,689 | 0 | |
Movement in relation to share options | 78,643 | 0 | 0 | 78,643 | 0 | 0 | 0 | 0 | 78,643 | 0 | |
Corporation tax on share options | 4,145 | 0 | 0 | 4,145 | 0 | 0 | 0 | 0 | 4,145 | 0 | |
Deferred tax on share options | (23,724) | 0 | 0 | (23,724) | 0 | 0 | 0 | 0 | (23,724) | 0 | |
Acquisitions: | |||||||||||
Shares issued to acquire HPE Software business | 6,514,170 | 28,773 | 0 | 0 | 0 | 0 | 0 | 6,485,397 | 6,514,170 | 0 | |
Share reorganization and buy-back: | |||||||||||
Return of Value - share consolidation | 0 | (2,926) | 0 | 0 | 0 | 2,926 | 0 | 0 | 0 | 0 | |
Issue and redemption of B shares | (500,000) | 0 | (156,683) | (500,000) | 0 | 500,000 | 0 | (343,317) | (500,000) | 0 | |
Share buy-back | (171,710) | 0 | 0 | (171,710) | 0 | 0 | 0 | 0 | 171,710 | 0 | |
Share placement: | |||||||||||
Issue of share capital - share placement | 0 | ||||||||||
Share placement issue costs | 0 | ||||||||||
Reallocation of merger reserve | 0 | 0 | 0 | 2,755,800 | 0 | 0 | 0 | (2,755,800) | 0 | 0 | |
Total movements for the period | 6,178,490 | 26,098 | (151,184) | 2,373,060 | (28,743) | 502,926 | 69,968 | (3,386,280) | 6,178,405 | 85 | |
Ending balance at Oct. 31, 2018 | $ 7,791,980 | $ 65,798 | $ 40,961 | $ 3,275,243 | $ (51,702) | $ 666,289 | $ 69,968 | $ 3,724,384 | $ 7,790,941 | $ 1,039 | |
[1] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||||||||
[2] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||||
[3] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Consolidated statement of cash
Consolidated statement of cash flows - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Cash flows from operating activities [Abstract] | |||||
Cash generated from operations | $ 564,792 | [1] | $ 456,113 | [1] | $ 1,424,311 |
Interest paid | (81,115) | (91,807) | (301,791) | ||
Bank loan costs | (6,654) | (1,805) | (101,159) | ||
Tax paid | (24,644) | (79,282) | (99,490) | ||
Net cash generated from operating activities | 452,379 | 283,219 | 921,871 | ||
Cash flows from/(used in) investing activities | |||||
Payments for intangible assets | (31,438) | (34,488) | (92,115) | ||
Purchase of property, plant and equipment | (11,727) | (10,281) | (40,091) | ||
Finance leases | 0 | 0 | (735) | ||
Interest received | 979 | 1,009 | 9,224 | ||
Payment for acquisition of business | (299,061) | (9,960) | (19,260) | ||
Repayment of bank borrowings on acquisition of businesses | (316,650) | 0 | 0 | ||
Net cash acquired with acquisitions | 68,173 | 106 | 321,668 | ||
Net cash from/(used in) investing activities | (589,724) | (53,614) | 178,691 | ||
Cash flows (used in)/from financing activities | |||||
Investment in non-controlling interest | (2) | 0 | (3) | ||
Proceeds from issue of ordinary share capital | 1,979 | 968 | 5,750 | ||
Purchase of treasury shares | (7,678) | 0 | (171,710) | ||
Return of Value paid to shareholders | 0 | 0 | (500,000) | ||
Repayment of working capital in respect of HPE Software business acquisition | 0 | 0 | (225,800) | ||
Proceeds from share capital placement | 0 | 225,720 | 0 | ||
Costs associated with share placement | 0 | (2,979) | 0 | ||
Repayment of bank borrowings | (372,062) | (157,750) | (252,936) | ||
Proceeds from bank borrowings | 180,000 | 245,000 | 1,043,815 | ||
Dividends paid to owners | (177,535) | (105,159) | (542,161) | ||
Net cash (used in)/from financing activities | (375,298) | 205,800 | (643,045) | ||
Effects of exchange rate changes | (3,552) | (9,551) | 15,302 | ||
Net increase/(decrease) in cash and cash equivalents | (516,195) | 425,854 | 472,819 | ||
Cash and cash equivalents at beginning of period | 667,178 | 241,324 | 150,983 | ||
Cash equivalents | 150,983 | 667,178 | 623,802 | ||
Reclassification to current assets classified as held for sale | 0 | 0 | (2,906) | ||
Cash and cash equivalents at end of period | $ 150,983 | $ 667,178 | $ 620,896 | ||
[1] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Consolidated statement of cas_2
Consolidated statement of cash flows (Parenthetical) $ in Thousands | 18 Months Ended |
Oct. 31, 2018USD ($) | |
Consolidated statement of cash flows [Abstract] | |
Non-cash tranasactions | $ 12,100 |
Provision utilization | 145,012 |
Bank loan cost | $ (101,159) |
General information
General information | 18 Months Ended |
Oct. 31, 2018 | |
General information [Abstract] | |
General information | General information Micro Focus International plc (“Company”) is a public limited Company incorporated and domiciled in the UK. The address of its registered office is, The Lawn, 22-30 Old Bath Road, Newbury, RG14 1QN, UK. Micro Focus International plc and its subsidiaries (together “Group”) provide innovative software to clients around the world enabling them to dramatically improve the business value of their enterprise applications. As at October 31, 2018, the Group had a presence in 49 countries (2017: 40; 2016: 39) worldwide and employed approximately 14,800 people (2017: 4,800; 2016: 4,200). On September 1, 2017, Micro focus International plc successfully completed the merger of its wholly owned subsidiary with Seattle SpinCo, Inc., which holds the software business segment ("HPE Software") of Hewlett Packard Enterprise Company ("HPE"). The Company is listed on the London Stock Exchange and its American Depositary Shares are listed on the New York Stock Exchange. The Company has changed its financial period-end from April 30, to October 31, and reports eighteen-month financial statements running from May 1, 2017 to October 31, 2018. The Group consolidated financial statements were authorized for issuance by the board of directors on February 20, 2019. |
Significant Accounting policies
Significant Accounting policies | 18 Months Ended |
Oct. 31, 2018 | |
Significant Accounting policies [Abstract] | |
Significant Accounting policies | 1 Significant Accounting policies A Basis of preparation The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IASB”) and in conformity with IFRS as adopted by the European Union (collectively “IFRS”). The consolidated financial statements have been prepared on a going concern basis under the historical cost convention. These financial statements have been prepared for an 18-month period as compared with prior 12 month reporting periods and therefore are not entirely comparable. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed below in II, ‘Critical accounting estimates, assumptions and judgements’. The principal accounting policies adopted by the Group in the preparation of the consolidated financial statements are set out below. Other than as described below, the accounting policies adopted are consistent with those of the Annual Report and Accounts for the years ended April 30, 2017 and April 30, 2016, apart from standards, amendments to, or interpretations of, published standards adopted during the period and the restatement of balances in the Consolidated income statement, the Consolidated statement of comprehensive income, the Consolidated statement of cash flows related to assets held for sale and discontinued operations as described below. Going concern The directors, having made enquiries, consider that the Group has adequate resources to continue in operational existence for the foreseeable future and therefore it is appropriate to maintain the going concern basis in preparing these financial statements. Assets held for sale and discontinued operations A current asset (or disposal group) is classified as held for sale if the Group will recover the carrying amount principally through a sale transaction rather than through continuing use. A current asset (or disposal group) classified as held for sale is measured at the lower of its carrying amount and fair value less costs to sell. If the asset (or disposal group) is acquired as part of a business combination it is initially measured at fair value less costs to sell. Assets and liabilities of disposal groups classified as held for sale are shown separately on the face of the balance sheet. The results of discontinued operations are shown as a single amount on the face of the comprehensive income statement comprising the post-tax profit or loss of discontinued operations and the post-tax gain or loss recognized either on measurement to fair value less costs to sell or on the disposal of the discontinued operation. The Consolidated statements of comprehensive income for comparative periods have been revised to present discontinued operations separately . Consolidated Statement of Financial Position – Prior period revision In the prior period deferred tax assets ($208.3m) and deferred tax liabilities ($326.7m) were incorrectly presented on a gross basis in the consolidated statement of financial position as of April 30, 2017 because jurisdictional offsetting, a requirement under IFRS, was not applied to these balances. Management has therefore elected to correct the misstatement and record immaterial adjustments to revise the consolidated statement of financial position as of April 30, 2017 and related notes to apply jurisdictional offsetting in respect of deferred tax assets and liabilities and present these on a net basis where they are expected to be realized as such. The impact of the revision is to reduce deferred tax assets, deferred tax liabilities, non-current assets and non-current liabilities by $208.3m, as compared with the previously reported amounts. The revision has no impact on profit or cash flows for the years ended April 30, 2017 and 2016 or net assets as at April 30, 2017. B Consolidation The financial statements of the Group comprise the financial statements of the Company and entities controlled by the Company, its subsidiaries and the Group’s share of its interests in associates prepared at the consolidated statement of financial position date. Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an entity where the Group is exposed to, or has rights to, variable returns from its involvement within the entity and it has the power over the entity to effect those returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing control. Control is presumed to exist when the Group owns more than half of the voting rights (which does not always equal percentage ownership) unless it can be demonstrated that ownership does not constitute control. The results of subsidiaries are consolidated from the date on which control passes to the Group. The results of disposed subsidiaries are consolidated up to the date on which control passes from the Group. The purchase method of accounting is used to account for the acquisition of subsidiaries by the Group. The cost of acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, with costs directly attributable to the acquisition being expensed. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the Group’s share of the identifiable net assets acquired is recorded as goodwill. Where new information is obtained within the 'measurement period' (defined as the earlier of the period until which the Group receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable, or one year from the acquisition date) about facts and circumstances that existed as at the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date, the Group recognizes these adjustments to the acquisition balance sheet with an equivalent offsetting adjustment to goodwill. Where new information is obtained after this measurement period has closed, this is reflected in the post-acquisition period. For partly owned subsidiaries, the allocation of net assets and net earnings to outside shareholders is shown in the line ‘Attributable to non-controlling interests’ on the face of the consolidated statement of comprehensive income and the consolidated statement of financial position. Inter-company transactions, balances and unrealized gains on transactions between Group companies are eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. At October Associates An associate is an entity, that is neither a subsidiary or a joint venture, over whose operating and financial policies the Group exercises significant influence. Significant influence is presumed to exist where the Group has between 20% and 50% of the voting rights but can also arise where the Group holds less than 20% if it has the power to be actively involved and influential in policy decisions affecting the entity. Associates are accounted for under the equity method, where the consolidated statement of comprehensive income and the consolidated financial position includes the Group’s share of their profits and losses and net assets, less any impairment in value. This involves recording the investment initially at cost to the Group, which therefore includes any goodwill on acquisition and then, in subsequent periods, adjusting the carrying amount of the investment to reflect the Group’s share of the associates’ post-acquisition profits and losses, which is recognized in the consolidated statement of comprehensive income, and its share of post-acquisition comprehensive income, which is recognized in the consolidated statement of comprehensive income. Unrealized gains arising from transactions between the Group and its associates are eliminated to the extent of the Group’s interests in the associates. At October 31, 2018 the Group had a 12.5% interest ($9.6m) (April 30, 2017: 12.5%, $11.5m; April 30, 2016: 14.3%, $12.7m) investment in Open Invention Network LLC (“OIN”). There are eight (April 30, 2017: eight; April 30, 2016: seven) equal shareholders of OIN, all holding 12.5% (April 30, 2017: 12.5%; April 30, 2016: 14.3%) interest, and each shareholder has one board member and one alternative board member. The Group exercises significant influence over OIN’s operation and therefore accounts for its investment in OIN as an associate. The investment in associates is part of discontinued operations which will be disposed of with the sale of the SUSE business segment and as such has been transferred to assets held for sale (note 19). C Revenue recognition The Group recognizes revenues from sales of software licences (including Intellectual Property and Patent rights, to end-users, resellers and Independent Software Vendors (“ISV”), software maintenance, subscription, Software as a Service (“SaaS”), technical support, training and professional services, upon firm evidence of an arrangement, delivery of the software and determination that collection of a fixed or determinable fee is reasonably assured. ISV revenue includes fees based on end usage of ISV applications that have our software embedded in their applications. When the fees for software upgrades and enhancements, maintenance, consulting and training are bundled with the licence fee, they are unbundled using the Group’s objective evidence of the fair value of the elements represented by the Group’s customary pricing for each element in separate transactions. If evidence of fair value exists for all undelivered elements and there is no such evidence of fair value established for delivered elements, revenue is first allocated to the elements where fair value has been established and the residual amount is allocated to the delivered elements. If evidence of fair value for any undelivered element of the arrangement does not exist, all revenue from the arrangement is deferred until such time that there is evidence of delivery. If the arrangement includes acceptance criteria, revenue is not recognized until the Group can objectively demonstrate that the acceptance criteria have been met, or the acceptance period lapses, whichever is earlier. The Group recognizes licence revenue derived from sales to resellers upon delivery to resellers, provided that all other revenue recognition criteria are met; otherwise revenue is deferred and recognized upon delivery of the product to the end-user. Where the Group sells access to a licence for a specified period of time and collection of a fixed or determinable fee is reasonably assured, licence revenue is recognized upon delivery, except in instances where future substantive upgrades or similar performance obligations are committed to. Where these future performance obligations are specified in the licence agreement, and fair value can be attributed to those upgrades, revenue for the future performance obligations is deferred and recognized on the basis of the fair value of the upgrades in relation to the total estimated sales value of all items covered by the licence agreement. Where the future performance obligations are unspecified in the licence agreement, revenue is deferred and recognized ratably over the specified period. For Subscription revenue where access and performance obligations are provided evenly over a defined term, the revenue is deferred and recognized ratably over the specified period. The Group recognizes revenue for SaaS arrangements as the service is delivered, generally on a straight-line basis, over the contractual period of performance. In SaaS arrangements, the Group considers the rights provided to the customer (e.g. whether the customer has the contractual right to take possession of the software at any time during the contractual period without significant penalty, and the feasibility of the customer to operate or contract with another vendor to operate the software) in determining whether the arrangement includes the sale of a software licence. In SaaS arrangements where software licences are sold, licence revenue is generally recognized according to whether perpetual or term licences are sold, when all other revenue recognition criteria are satisfied. Maintenance revenue is recognized on a straight-line basis over the term of the contract, which in most cases is one year. For time and material-based professional services contracts, The Group recognizes revenue as services are rendered and recognizes costs as they are incurred. The Group recognizes revenue from fixed-price professional services contracts as work progresses over the contract period on a proportional performance basis, as determined by the percentage of labor costs incurred to date compared to the total estimated labor costs of a contract. Estimates of total project costs for fixed-price contracts are regularly reassessed during the life of a contract. Amounts collected prior to satisfying the above revenue recognition criteria are included in deferred income. Rebates paid to partners as part of a contracted program are netted against revenue where the rebate paid is based on the achievement of sales targets made by the partner, unless the Company receives an identifiable good or service from the partner that is separable from the sales transaction and for which the Group can reasonably estimate fair value. D Cost of sales Cost of sales includes costs related to the amortization of product development costs, amortization of acquired technology intangibles, costs of the consulting business and helpline support and royalties payable to third parties. E Segment reporting In accordance with IFRS 8, ‘Operating Segments’, the Group has derived the information for its segmental reporting using the information used by the Chief Operating Decision Maker (“CODM”), defined as the Executive Committee. The segmental reporting is consistent with those used in internal management reporting and the measure used by the Executive Committee is the Adjusted EBITDA, as set out in note 1 F Exceptional items Exceptional items are those significant items, which are separately disclosed by virtue of their size, nature or incidence to enable a full understanding of the Group’s financial performance. In setting the policy for exceptional items, judgement is required to determine what the Group defines as ‘exceptional’. The Group considers an item to be exceptional in nature if it is material, non-recurring and does not reflect the underlying performance of the business. Exceptional items are allocated to the financial statement lines (for example: cost of sales) in the Consolidated statement of comprehensive income based on the nature and function of the costs, for example restructuring costs related to employees are classified where their original employment costs are recorded. Management of the Group first evaluates group strategic projects such as acquisitions, divestitures and integration activities, company tax restructuring and other one-off events such as restructuring programs. In determining whether an event or transaction is exceptional, management of the Group considers quantitative and qualitative factors such as its expected size, precedent for similar items and the commercial context for the particular transaction, while ensuring consistent treatment between favorable and unfavorable transactions impacting revenue, income and expense. Examples of transactions which may be considered of an exceptional nature include major restructuring programs, cost of acquisitions or the cost of integrating acquired businesses. G Employee benefit costs a) Pension obligations and long-term pension assets The Group operates various pension schemes, including both defined contribution and defined benefit pension plans. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. For defined contribution plans the Group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognized as an employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement. This is usually dependent on one or more factors such as age, years of service and compensation. The liability recognized in the consolidated statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. Certain long-term pension assets do not meet the definition of plan assets as they have not been pledged to the plan and are subject to the creditors of the Group. Such assets are recorded separately in the consolidated statement of financial position as long-term pension assets. The portion of non-plan assets connected with the SUSE segment are recorded within current assets classified as held for sale. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that have terms to mature approximating to the terms of the related pension obligation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Past-service costs are recognized immediately in income. The current service cost of the defined benefit plan, recognized in the consolidated statement of comprehensive income in employee benefit expense, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current period, benefit changes, curtailments and settlements. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in the consolidated statement of comprehensive income. Long-term pension assets relate to the reimbursement right under insurance policies held in the Group with guaranteed interest rates that do not meet the definition of a qualifying insurance policy as they have not been pledged to the plan and are subject to the creditors of the Group. Such reimbursement rights assets are recorded in the consolidated statement of financial position as long-term pension assets. These contractual arrangements are treated as available-for-sale financial assets since there is not an exact matching of the amount and timing of some or all of the benefits payable under the defined benefit plan. Gains and losses on long-term pension assets are charged or credited to equity in other comprehensive income in the period in which they arise. b) Share based compensation The Group operated various equity-settled, share based compensation plans during the period. The fair value of the employee services received in exchange for the grant of the shares or options is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the shares or options granted. Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable. Market vesting conditions are taken into account when determining the fair value of the options at grant date. At each consolidated statement of financial position date, the Group revises its estimates of the number of options that are expected to become exercisable. It recognizes the impact of the revision of original estimates, if any, in the consolidated statement of comprehensive income, and a corresponding adjustment to equity over the remaining vesting period. The shares are recognized when the options are exercised and the proceeds received allocated between ordinary shares and share premium account. Fair value is measured using the Black-Scholes pricing model. The expected life used in the model has been adjusted, based on management’s best estimate for the effects of non-transferability, exercise restrictions and behavioral considerations. The Additional Share Grants have been valued using the Monte-Carlo simulation pricing model. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair-value of the unmodified award, provided the original terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. The social security contributions payable in connection with the grant of the share options is considered an integral part of the grant itself, and the charge is treated as a cash-settled transaction. c) Employee benefit trust Transactions, assets and liabilities of the Group sponsored Employee Benefit Trust are included in the consolidated financial statements as it is considered to be an intermediate payment arrangement. In particular, the Trust’s purchases of shares in the Company remain deducted from shareholders’ funds until they vest unconditionally with employees. H Foreign currency translation a) Functional and presentation currency The presentation currency of the Group is US dollars. Items included in the financial statements of each of the Group’s entities are measured in the functional currency of each entity. From November 1, 2017, certain HPE Software entities changed their functional currency, reflecting changes in their underlying business model and transactional conditions. b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of comprehensive income. c) Group companies The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: i) Assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the date of that consolidated statement of financial position; ii) Income and expenses for each consolidated statement of comprehensive income item are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and iii) All resulting exchange differences are recognized as a separate component of equity. On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to other comprehensive income. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate, with the exception for goodwill arising before May 1, 2004 which is treated as an asset of the Company and expressed in the Company’s functional currency. d) Exchange rates The most important foreign currencies for the Group are Pounds Sterling, the Euro, Israeli Shekel and Canadian Dollar. The exchange rates used are as follows: 18 months ended October 12 months ended April 30, 2017 12 months ended April 30, 2016 Average Closing Average Closing Average Closing £1 = $ 1.33 1.27 1.29 1.29 1.50 1.46 €1 = $ 1.18 1.14 1.09 1.09 1.11 1.14 C$ = $ 0.78 0.76 0.76 0.73 0.77 0.80 ILS = $ 0.28 0.27 0.26 0.28 0.26 0.27 I Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. Each of those cash-generating units represents the Group’s investment in each area of operation by each primary reporting segment. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is classified as held for sale, the goodwill associated with the held-for-sale operation is measured based on the relative values of the held-for-sale operation and the portion of the cash-generating unit retained. b) Computer software Computer software licences are capitalized on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortized using the straight-line method over their estimated useful lives of three to five years. c) Research and development Research expenditure is recognized as an expense as incurred in the consolidated statement of comprehensive income in research and development expenses. Costs incurred on product development projects relating to the developing of new computer software programs and significant enhancement of existing computer software programs are recognized as intangible assets when it is probable that the project will be a success, considering its commercial and technological feasibility, and costs can be measured reliably. Only direct costs are capitalized which are the software development employee costs and third-party contractor costs. Product development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Product development costs are amortized from the commencement of the commercial production of the product on a straight-line basis over the period of its expected benefit, typically being three years, and are included in costs of sales in the consolidated statement of comprehensive income. d) Intangible assets – arising on business combinations Other intangible assets that are acquired by the Group are stated at cost less accumulated amortization. Amortization is charged to the consolidated statement of comprehensive income on a straight-line basis over the estimated useful life of each intangible asset. Intangible assets are amortized from the date they are available for use. The estimated useful lives will vary for each category of asset acquired and to date are as follows: Purchased software Three to five years Technology Three to 12 years Trade names Three to 20 years Customer relationships Two to 15 years Lease contracts Five and half years Amortization of purchased software intangibles is included in administrative expenses, amortization of purchased technology intangibles is included in cost of sales and amortization of acquired purchased trade names, customer relationships and lease contracts intangibles are included in selling and distribution costs in the Consolidated statement of comprehensive income. J Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance expenditures are charged to the consolidated statement of comprehensive income during the financial period in which they are incurred. Depreciation is calculated using the straight-line method to write off the cost of each asset to its residual value over its estimated useful life as follows: Buildings 30 years Leasehold improvements Three to 10 years Fixtures and fittings Two to seven years Computer equipment One to five years Freehold land is not depreciated. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each consolidated statement of financial position date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the disposal proceeds with the carrying amount and are included in the consolidated statement of comprehensive income. Property held for sale is measured at the lower of its carrying amount or estimated fair value less costs to sell. K Impairment of non-financial assets Assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows being cash-generating units. Any non-financial assets other than goodwill which have suffered impairment are reviewed for possible reversal of the impairment at each reporting date. Assets that are subject to amortization and depreciation are also reviewed for any possible impairment at each reporting date. L Inventories Inventories are stated at the lower of cost and net realizable value. The cost of finished goods comprises software for resale and packaging materials. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. When work has been performed and the revenue is not yet recognized, the direct costs of third-party contractors and staff will be treated as work in progress where the probability of invoicing and evidence of collectability can be demonstrated. M Trade receivables Trade receivables are initially recognized at fair value and subsequently measured at amortized cost less provisions for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognized in the consolidated statement of comprehensive income. N Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short- |
Segmental reporting
Segmental reporting | 18 Months Ended |
Oct. 31, 2018 | |
Segmental reporting [Abstract] | |
Segmental reporting | 1 Segmental reporting In accordance with IFRS 8, “Operating Segments”, the Group has derived the information for its segmental reporting using the information used by the Chief Operating Decision Maker for the purposes of resource allocation and assessment of segment performance. The Chief Operating Decision Maker (“CODM”) is defined as the Executive Committee, which has changed its composition during the period. For the six months to October 31, 2017, the Executive Committee consisted of the Executive Chairman, Chief Executive Officers of Micro Focus and SUSE, Chief Financial Officer and the Chief Operating Officer. For the six months to April 30, 2018, the Executive Committee consisted of the Executive Chairman, the Chief Executive Officer, the Chief Executive Officer of SUSE and the Chief Financial Officer. On July 2, 2018, the Group then announced the proposed sale of SUSE ( note 19 the Group is organized into a single reporting segment comprising the Micro Focus Product Portfolio. Consistent with this the Chief Executive Officer of SUSE, Nils Brauckmann, stepped down from the Board on July 11, 2018 to concentrate on the sale. As such, the CODM from July 11, 2018 consisted of the Executive Chairman, the Chief Executive Officer and the Chief Financial Officer. The Group’s segment under IFRS 8 is: Micro Focus Product Portfolio The segmental reporting is consistent with that used in internal management reporting the profit measure used by the Executive Committee is Adjusted EBITDA. The internal management reporting that the Executive Committee receives includes a pool of centrally managed costs, which are allocated between Micro Focus and the SUSE business based on identifiable segment specific costs with the remainder allocated based on other criteria including revenue and headcount. 18 months ended October 31, 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Note $ ’000 $ ’000 $ ’000 Revenue before deferred revenue haircut 4,815,460 1,084,165 1,001,483 Deferred revenue haircut (61,062 ) (6,892 ) (10,250 ) Segment revenue 4,754,398 1,077,273 991,233 Directly managed costs (2,997,545 ) (564,072 ) (566,457 ) Allocation of centrally managed costs 52,730 26,196 28,883 Total segment costs (2,944,815 ) (537,876 ) (537,574 ) Adjusted Operating Profit 1,809,583 539,397 453,659 Exceptional items 4 (538,156 ) (97,258 ) (27,853 ) Share based compensation charge 35 (64,284 ) (31,463 ) (26,254 ) Amortization of purchased intangibles 11 (830,319 ) (183,284 ) (152,356 ) Operating profit 376,824 227,392 247,196 Net finance costs 6 (342,712 ) (95,845 ) (97,348 ) Profit before tax 34,112 131,547 149,848 Reconciliation to Adjusted EBITDA: Profit before tax 34,112 131,547 149,848 Finance costs 6 350,366 96,824 98,357 Finance income 6 (7,654 ) (979 ) (1,009 ) Depreciation of property, plant and equipment 12 88,611 9,704 9,736 Amortization of intangible assets 11 903,008 206,751 187,337 Exceptional items (reported in Operating profit) 4 538,156 97,258 27,853 Share-based compensation charge 35 64,284 31,463 26,254 Product development intangible costs capitalized 11 (44,350 ) (27,664 ) (30,877 ) Foreign exchange credit (37,292 ) (2,901 ) (2,584 ) Adjusted EBITDA 1,889,241 542,003 464,915 1 note 19 No measure of total assets and total liabilities for the reportable segment has been reported as such amounts are not regularly provided to the Chief Operating Decision Maker. |
Supplementary information
Supplementary information | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of Supplementary information [Abstract] | |
Supplementary information | 2 Supplementary information Analysis of revenue by geography The Group is domiciled in the UK. The Group’s revenue from external customers by geographical location are detailed below: 18 months ended October 31, 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 UK 299,579 52,230 55,257 USA 2,279,840 551,519 459,045 Germany 309,534 86,799 108,541 France 195,464 43,242 39,561 Japan 145,820 42,369 35,969 Other 1,524,161 301,114 292,869 Total 4,754,398 1,077,273 991,233 1 ( note 19 Analysis of assets by geography The total of non-current assets other than financial instruments and deferred tax assets as at October 31, 2018 located in the USA is $5,145.8m and non USA is $8,488.3m. They exclude trade and other receivables, derivative financial instruments and deferred tax. The total of non-current assets other than financial instruments and deferred tax assets as at April 30, 2017 located in the UK is $147.7m, the total in the USA is $3,778.7m and the total of such non-current assets located in other countries is $67.3m. They exclude trade and other receivables, derivative financial instruments and deferred tax Analysis of revenue by product Set out below is an analysis of revenue from continuing operations recognized between the principal product portfolios for the 18 months ended October 31, 2018 and 12 months ended April 30, 2017. As a result of the acquisition of HPE Software business the Group’s product portfolios have been redefined. The comparatives for the 12 months ended April 30, 2017 have not been represented into the new product portfolios. 18 months ended October 31, Licence $’000 Maintenance $’000 Consulting $’000 SaaS & other recurring $’000 Total $’000 Application Modernization & Connectivity 256,256 497,632 17,941 - 771,829 Application Delivery Management 185,460 646,711 41,639 114,145 987,956 IT Operations Management 363,150 869,891 192,772 15,055 1,440,868 Security 291,603 580,228 81,429 41,614 994,875 Information Management & Governance 117,227 267,133 32,521 203,053 619,933 Subtotal 1,213,696 2,861,595 366,302 373,867 4,815,460 Deferred revenue haircut (7,592 ) (42,657 ) (2,046 ) (8,767 ) (61,062 ) Total Revenue 1,206,104 2,818,938 364,256 365,100 4,754,398 12 months ended April 30, 2017 1 Licence $’000 Maintenance $’000 Consulting $’000 SaaS & other recurring $’000 Total $’000 CDMS 105,962 149,668 9,530 - 265,160 Host Connectivity 69,158 104,912 1,857 - 175,927 Identity, Access & Security 48,635 141,298 18,354 - 208,287 Development & IT Operations Management Tools 55,464 219,604 13,860 - 288,928 Collaboration & Networking 29,175 112,079 4,609 - 145,863 Subtotal 308,394 727,561 48,210 - 1,084,165 Deferred revenue haircut - (6,892 ) - - (6,892 ) Total Revenue 308,394 720,669 48,210 - 1,077,273 1 note 19 12 months ended April 30, 2016 1 Licence $’000 Maintenance $’000 Consulting $’000 SaaS $’000 Total $’000 Micro Focus Product Portfolio (continuing operations): CDMS 104,737 145,180 8,911 - 258,828 Host Connectivity 89,862 107,171 2,920 - 199,953 Identity, Access & Security 52,360 145,648 22,083 - 220,091 Development & IT Operations Management Tools 33,918 121,310 2,219 - 157,447 Collaboration & Networking 23,943 135,392 5,829 - 165,164 Subtotal 304,820 654,701 41,962 - 1,001,483 Deferred revenue haircut - (10,250 ) - - (10,250 ) Total Revenue 304,820 644,451 41,962 - 991,233 1 note 19 |
Profit before tax
Profit before tax | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of Profit before tax [Abstract] | |
Profit before tax | 3 Profit before tax Profit before tax is stated after charging/(crediting) the following operating costs/(gains) classified by the nature of the costs/(gains): 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Note $ ’000 $ ’000 $ ’000 Staff costs 35 2,095,025 480,654 429,493 Depreciation of property, plant and equipment owned assets 12 71,184 9,704 9,736 leased assets 12 17,427 - - Loss on disposal of property, plant and equipment 12 4,581 520 - Amortization of intangibles 11 903,008 206,751 187,337 Inventories – cost of inventories recognized as a credit (included in cost of sales) 16 324 (71 ) (72 ) Operating lease rentals payable – plant and machinery 8,840 2,880 1,559 – property 85,328 18,356 20,706 Provision for receivables impairment 17 40,016 2,023 2,531 Foreign exchange gains (37,292 ) (2,901 ) (2,584 ) 1 note 19 |
Exceptional items
Exceptional items | 18 Months Ended |
Oct. 31, 2018 | |
Exceptional items [Abstract] | |
Exceptional items | 4 Exceptional items 18 months ended October 31, 2018 12 months ended April 30, 12 months ended April 30, Reported within Operating profit: $ ’000 $ ’000 $ ’000 Integration costs 278,995 27,696 23,634 Pre-acquisition costs 43,025 58,004 5,569 Acquisition costs 27,116 2,597 531 Property related costs 38,014 5,525 5,964 Severance and legal costs 129,743 3,436 (4,845 ) Divestiture 21,263 - - Royalty provision release - - (3,000 ) 538,156 97,258 27,853 Reported within finance costs: Finance costs incurred in escrow period ( note 6,326 - - Reported within finance income: Finance income earned in escrow period ( note (553 ) - - 5,773 - - Exceptional costs before tax 543,929 97,258 27,853 Tax: Tax effect of exceptional items (105,911 ) (11,633 ) (6,835 ) Tax exceptional item (692,285 ) - - (798,196 ) (11,633 ) (6,835 ) Exceptional (income)/costs after tax (254,267 ) 85,625 21,018 Exceptional items are allocated to the financial statement lines (for example: cost of sales) in the Consolidated statement of comprehensive income based on the nature and function of the costs, for example restructuring costs related to employees are classified where their original employment costs are recorded. Integration costs Integration costs of $279.0m for the 18 months ended October 31, 2018 (12 months to April 30,: 2017: $27.7m; 2016: $23.6m) arose mainly from the work being done in integrating Serena, GWAVA and HPE Software business into the Micro Focus Product Portfolio. Other activities include system integration costs. Pre-acquisition costs The pre-acquisition costs of $43.0m for the 18 months ended October 31, 2018 (12 months to April 30, 2017: $58.0m, April 30, 2016: $5.6m) relate to the evaluation of the acquisition of the HPE Software business, which was announced in October 2016 and was completed on September 1, 2017. The costs relate to due diligence work, legal work on the acquisition agreements, professional advisors on the transaction and pre-integration costs relating to activities in readiness for the HPE Software business acquisition across all functions of the existing Micro Focus business. Acquisition costs The acquisition costs of $27.1m for the 18 months ended October 31, 2018 include external costs in completing the acquisition of the HPE Software business in September 2017, (including $7.7m in respect of US excise tax payable on the award of Long Term Incentives and Additional Share Grants to four senior employees) and costs relating to the acquisition of COBOL-IT SAS (12 months to April 30, 2017: $2.6m related to the acquisitions of Serena in May 2016 and GWAVA in October 2016; April 30, 2016: $0.5m related to the acquisition of Authasas BV in July 2015). The external costs mostly relate to due diligence work, legal work on the acquisition agreements and professional advisors on the transaction. Property related costs Property related costs of $38.0m for the 18 months ended October 31, 2018 (12 months to April 30, 2017: $5.5m; April 30, 2016: $6.0m) relate mainly to the assessment and reassessment of leases on empty or sublet properties held by the Group, in particular in North America, and the cost of site consolidations. Severance and legal costs Severance and legal costs of $129.7m for the 18 months ended October 31, 2018 (12 months to April 30, 2017: $3.4m cost; 2016: $4.8m release) relate mostly to termination costs for employees after acquisition relating to the integration of the HPE Software business into the Micro Focus Product Portfolio. The costs for the 12 months ended April 30, 2017 related to termination costs for senior Serena executives after acquisition. Divestiture Divestiture costs of $21.3m for the 18 months ended October 31, 2018 (12 months to April 30, 2017: $nil; April 30, 2016: $nil) relate mostly to fees paid to professional advisors relating to the SUSE divestiture, due to be completed in the first quarter of 2019 ( note Royalty provision release Royalty provision releases of $3.0m for the year ended April 30, 2016 related to provisions no longer required as a result of new contracts being concluded with a third party. Finance income and finance costs Finance costs of $6.3m (12 months to April 30, 2017: $nil; April 30, 2016: $nil) and finance income of $0.6m (12 months to April 30,: 2017: $nil; 2016 $nil) for the 18 months ended October 31, 2018 relate to interest (charged and gained) on additional term loan facilities drawn down in relation to the acquisition of the HPE Software business, between the date the facilities were drawn into escrow and the acquisition date. Tax The tax effect of exceptional items and an exceptional tax credit is a credit to the income statement of $798.2m for the 18 months ended October 31, 2018 (12 months to April 30, 2017: $11.6m; April 30, 2016: $6.8m). The exceptional tax credit of $692.3m (April 30, 2017: $nil; April 30, 2016: $nil) in the 18 months ended October 31, 2018 relates to the impact of US tax reforms, comprised of a credit of $930.6m in respect of the re-measurement of deferred tax liabilities and a transition tax charge of $238.3m payable over eight years. |
Services provided by the Group'
Services provided by the Group's auditors and network of firms | 18 Months Ended |
Oct. 31, 2018 | |
Services provided by the Group's auditors and network of firms [Abstract] | |
Services provided by the Group's auditors and network of firms | 5 Services provided by the Group’s auditors and network of firms During the 18 months ended October 31, 2018, the Group obtained the following services from the Group’s auditors as detailed below which have been disclosed in line with the ICAEW Technical Release “Tech 14/13FRF” guidance on the disclosure of auditor remuneration for the audit of accounts and other (non-audit) services, in accordance with the requirements of the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 (Statutory Instrument 2008/489) as amended : 18 months ended October 31, 2018 12 months ended April 30, 12 months ended April 30, $ ’000 $ ’000 $ ’000 Audit of Company 12,223 1,032 563 Audit of subsidiaries 1,887 2,494 2,895 Total audit 14,110 3,526 3,458 Audit related assurance services 914 2,634 782 Other assurance services 664 - - Total assurance services 1,578 2,634 782 Tax compliance services 214 49 60 Tax advisory services 196 53 70 Services relating to taxation 410 102 130 Other non-audit services 35 7,470 1,842 Total 16,133 13,732 6,212 The 18 months ended October 31, 2018 fees represent fees paid to KPMG LLP, as the current auditor. Fees for the years ended April 30, 2017 and April 30, 2016 represent amounts paid to the previous auditor, PricewaterhouseCoopers LLP. Audit related assurance services in the 18 months ended October 31, 2018 relate primarily to the additional audit procedures performed on the Micro Focus International plc financial statements that are included in US filings and two interim reviews, for both six-month periods ending October 31, 2017 and April 30, 2018. Other assurance services in the 18 months ended October 31, 2018 relate primarily to the auditor’s assurance work in relation to the SUSE divestiture and licence verification compliance work. The remaining non-audit services in the period included a limited amount of tax compliance and tax advice. |
Finance income and finance cost
Finance income and finance costs | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of Finance income and finance costs [Abstract] | |
Finance income and finance costs | 6 Finance income and finance costs Note 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Finance costs Interest on bank borrowings 276,530 81,157 82,369 Commitment fees 3,294 796 1,108 Amortization of facility costs and original issue discounts 60,377 14,219 13,762 Finance costs on bank borrowings 340,201 96,172 97,239 Net interest expense on retirement obligations 27 2,823 565 467 Finance lease expense 2,690 - - Interest rate swaps: cash flow hedges, transfer from equity 3,399 - - Interest on tax provisions - - 525 Other 1,254 87 126 Total 350,366 96,824 98,357 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Finance income Bank interest 3,593 438 377 Interest on non-plan pension assets 27 633 404 333 Other 3,428 137 299 Total 7,654 979 1,009 Net finance cost 342,712 95,845 97,348 Included within exceptional items 4 Finance costs incurred in escrow period 6,326 - - Finance income earned in escrow period (553 ) - - 5,773 - - |
Taxation
Taxation | 18 Months Ended |
Oct. 31, 2018 | |
Taxation [Abstract] | |
Taxation | 7 Taxation 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Current tax Current period 245,875 33,928 23,359 Adjustments to tax in respect of previous periods (14,725 ) 1,698 (20,570 ) 231,150 35,626 2,789 Deferred tax Origination and reversal of timing differences 26,421 (22,426 ) (4,145 ) Adjustments to tax in respect of previous periods 1,213 (4,445 ) 16,010 Impact of change in tax rates (931,865 ) (1,291 ) (785 ) (904,231 ) (28,162 ) 11,080 Total tax (credit)/charge (673,081 ) 7,464 13,669 1 note 19 For the 18 months ended October 31, 2018, a deferred tax debit of $23.7m (12 months ended April 30, 2017: $23.0m credit; April 30, 2016: $8.5m credit) and current tax credit of $4.1m (12 months ended April 30, 2017: $4.1m credit; April 30, 2016: $1.5m credit) has been recognized in equity in relation to share options. In addition, a deferred tax credit of $4.3m (12 months ended April 30, 2017: $0.3m debit; April 30, 2016: $1.7m debit) has been recognized in the consolidated statement of changes in equity in relation to the defined benefit pension schemes. The tax charge for the 18 months ended October 31, 2018 is lower than the standard rate of corporation tax in the UK of 19.00% (April 30, 2017: 19.92%; April 30, 2016 20.00%). The differences are explained below: 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Profit before taxation 34,112 131,547 149,848 Tax at UK corporation tax rate 19.00% (April 30, 2017: 19.92%; April 30, 2016: 20.00%) 6,481 26,005 29,970 Effects of: Tax rates other than the UK standard rate 17,778 571 5,556 Intra-group financing (20,654 ) (15,636 ) (14,445 ) Innovation tax credit benefits (21,374 ) (9,834 ) (9,393 ) US foreign inclusion income 39,053 394 - US transition tax 238,270 - - Share options 10,236 - - Movement in deferred tax not recognized 7,306 200 (759 ) Effect of change in tax rates (931,865 ) (1,291 ) (237 ) Expenses not deductible and other permanent differences (4,800 ) 9,802 7,737 (659,569 ) 10,211 18,429 Adjustments to tax in respect of previous periods: Current tax (14,725 ) 1,698 (20,570 ) Deferred tax 1,213 (4,445 ) 16,010 (13,512 ) (2,747 ) (4,560 ) Total taxation (673,081 ) 7,464 13,869 1 note 19 Tax rates other than the UK standard rate includes provisions for uncertain tax positions relating to the risk of challenge from tax authorities to the geographic allocation of profits across the Group. The increase in the period reflects the increased size of the group following the acquisition of the HPE Software business and the impact of the OECD’s continuing Base Erosion and Profit Shifting project. The Group continues to benefit from the UK’s Patent Box regime, US R&D tax credits and other innovation-based tax credits offered by certain jurisdictions, the benefit for the 18 months ended October 31, 2018 being $21.4m (12 months ended April 30, 2017: $9.8m; 2016: $7.6m). The Group realized benefits in relation to intra-group financing of $20.7m for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: $15.6.m; April 30, 2016: $14.4m). The benefits mostly relate to arrangements put in place to facilitate the acquisitions of the HPE Software business, TAG and Serena. US foreign inclusion income includes non-US amounts deemed repatriated to, and therefore taxable in, the US in the current period. US tax reforms result in a net one-off credit to the income statement in the period of $692.3m being a credit of $930.6m in respect of the re-measurement of deferred tax liabilities and a transition tax charge of $238.3m payable over eight years. The Group recognized a net overall charge in respect of share options due to deferred tax credits arising on options held at the balance sheet date being lower than the current tax charge as a result of the terms of the options. The movement in deferred tax assets and liabilities during the period is analyzed in note 30. The Group realized a net credit in relation to the true-up of prior period current and deferred tax estimates of $13.5m for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: $2.7m; April 30, 2016: $4.6m). Within the current tax true up is a credit of $13.2m in respect of items within the income tax reserve, which are no longer considered probable to arise. The Group’s tax charge is subject to various factors, many of which are outside the control of the Group, including changes in local tax legislation, and specifically US tax reform, the OECD's Base Erosion and Profit Shifting project and the consequences of Brexit. The European Commission has issued preliminary findings and opened a state id investigation into the UK’s ‘Financing Company Partial Exemption’ legislation. Similar to other UK based international companies Micro Focus may be affected by the final outcome of this investigation and is monitoring developments. If the preliminary findings of the European Commission’s investigation into the UK legislation are upheld, Micro Focus has calculated that the maximum potential tax liability would be $57.8m. Based on its current assessment Micro Focus believes that no provision is required in respect of this issue. |
Dividends
Dividends | 18 Months Ended |
Oct. 31, 2018 | |
Dividends [Abstract] | |
Dividends | 8 Dividends 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 Equity - ordinary $ ’000 $ ’000 $ ’000 Final paid 58.33 cents (April 30, 2017: 49.74 cents; April 30, 2016 49.74 cents) per ordinary share 133,889 111,023 70,015 First Interim paid 34.60 cents (April 30, 2017: 29.73 cents; April 30, 2016: 16.94 cents) per ordinary share 156,243 66,512 35,144 Second Interim paid 58.33 cents (April 30, 2017: nil cents; April 30, 2016: nil cents) per ordinary share 252,029 - - 542,161 177,535 105,159 The directors announced a final dividend of 58.33 cents per share payable on April 5, 2019 to shareholders who are registered at March 1, 2019. This final dividend, amounting to $249.0m has not been recognized as a liability as at October 31, 2018. |
Earnings per share
Earnings per share | 18 Months Ended |
Oct. 31, 2018 | |
Earnings per share [Abstract] | |
Earnings per share | 9 Earnings per share The calculation of the basic earnings per share has been based on the earnings attributable to owners of the parent and the weighted average number of shares for each year. Reconciliation of the earnings and weighted average number of shares: 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Earnings ($’000) Profit for the period from continuing operations 707,108 124,186 135,901 Profit for the period from discontinued operations 76,940 33,720 26,993 784,048 157,906 162,894 Number of shares (‘000) Weighted average number of shares 388,717 229,238 218,635 Dilutive effects of shares 10,963 8,165 8,847 399,680 237,403 227,482 Earnings per share Basic earnings per share (cents) Continuing operations 181.91 54.17 62.40 Discontinued operation 19.79 14.71 12.10 201.70 68.88 74.50 Diluted earnings per share (cents) Continuing operations 176.92 52.31 59.97 Discontinued operation 19.25 14.20 11.64 196.17 66.51 71.61 Basic earnings per share (pence) Continuing operations 136.73 41.88 41.54 Discontinued operation 14.88 11.37 8.05 151.61 53.25 49.59 Diluted earnings per share (pence) Continuing operations 132.98 40.44 39.92 Discontinued operations 14.47 10.98 7.74 147.45 51.42 47.66 Earnings attributable to ordinary shareholders From continuing operations 707,193 124,083 135,979 Excluding non-controlling interests (85 ) 103 (78 ) Profit for the period from continuing operations 707,108 124,186 135,901 From discontinued operation 76,940 33,720 26,993 784,048 157,906 162,894 Average exchange rate $ 1.33 / £ $ 1.29 / £ $ 1.50 / £ 1 note 19 The weighted average number of shares excludes treasury shares that do not have dividend rights. ( note 31 note 31 |
Goodwill
Goodwill | 18 Months Ended |
Oct. 31, 2018 | |
Goodwill [Abstract] | |
Goodwill | 10 Goodwill October 31, 2018 April 30, 2017 Note $ ’000 $ ’000 Cost and net book amount At 1 May 2,828,604 2,436,168 Acquisitions 39 4,863,962 392,436 Reclassification to assets held for sale 19 (887,523 ) - 6,805,043 2,828,604 A segment-level summary of the goodwill allocation is presented below: Micro Focus 6,805,043 1,969,038 SUSE - 859,566 6,805,043 2,828,604 Goodwill acquired through business combinations has been allocated to a cash generating unit (“CGU”) for the purpose of impairment testing. The goodwill arising on the acquisition of the HPE Software business of $4,858.4m ( note 39 note 39 Of the additions to goodwill, there is no amount expected to be deductible for tax purposes. Impairment Test Impairment of goodwill is tested annually, or more frequently where there is indication of impairment. An impairment test is a comparison of the carrying value of the assets of the CGU with their recoverable amount. Where the recoverable amount is less than the carrying value, an impairment results. The annual impairment test has historically been carried out at April 30. Going forward, starting with this period end, the annual test has been moved to October 31, to align with the new period-end. During the period as a result of the proposed divestiture of SUSE, $859,566k of Goodwill historically allocated to the SUSE CGU has been reclassified within assets held for sale ( note note The recoverable amount of the Micro Focus CGU is determined based on its Value In Use (“VIU”). The VIU includes estimates about the future financial performance of the CGU and is based on five-year projections and then a terminal value calculation. It utilizes discounted board approved forecasts for 2019 and 2020 with the following three years also reflecting management’s expectation of the medium and long-term growth prospects which have been applied based upon the expected operating performance of the CGU and growth prospects in the CGU’s market. The cash flow projections and inputs combine past performance with adjustments as appropriate where the directors believe that past performance and rates are not indicative of future performance and rates. Key assumptions Key assumptions in the VIU are considered to be the discount rate and long-term growth rate. These have been assessed taking into consideration the current economic climate and the resulting impact on expected growth and discount rates. The long-term growth rate and discount rate used in the VIU calculation are: 2018 2017 Long-term growth rate 1.0 % 1.0 % Pre-tax discount rate (based upon the Groups weighted average cost of capital “WACC”) 9.7 % 11.4 % The directors have considered reasonably possible changes in the key assumptions that could have an adverse impact, taking into consideration that the Group is insulated from some significant adverse impacts by its geographical spread and that the Group’s cost base is flexible and could quickly respond to market changes. The directors have assessed that a reasonably possible absolute change in the discount rate is 2.0% (April 30, 2017: 2.0%) and such an increase would cause the carrying value of the Micro Focus CGU to exceed its recoverable amount. An increase in the discount rate of 1.3% to 11.0% would reduce the amount by which the recoverable amount exceeds its carrying value from $2.2 billion to $nil. The directors have also assessed that there is not a reasonably possible change in the long-term growth rate that would result in an impairment. No impairment charge resulted from the goodwill tests for impairment in the 18 months ended October 31, 2018 (April 30, 2017: no impairment). |
Other intangible assets
Other intangible assets | 18 Months Ended |
Oct. 31, 2018 | |
Other intangible assets [Abstract] | |
Other intangible assets | 11 Other intangible assets Purchased intangibles Purchased software Product Development costs Technology Trade names Customer relationships Lease Contracts Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2017 24,635 213,822 398,917 239,621 972,378 - 1,849,373 Continuing operations: Acquisitions - HPE Software business ( note 39 72,825 - 1,809,000 163,000 4,480,000 15,000 6,539,825 Acquisitions – COBOL-IT (note 39) - - 1,537 154 12,317 - 14,008 Acquisitions – Covertix (note39) 2,490 - - - - - 2,490 Additions 46,812 44,350 - - - - 91,162 Additions – external consultants - 953 - - - - 953 Exchange adjustments (439 ) - - - - - (439 ) Discontinued operation : Reclassification to current assets classified as held for sale ( note 19) (5,121 ) - (50,987 ) (135,116 ) (87,521 ) - (278,745 ) At October 31, 2018 141,202 259,125 2,158,467 267,659 5,377,174 15,000 8,218,627 Accumulated amortization At May 1, 2017 20,970 164,695 222,986 38,849 312,503 - 760,003 Continuing operations: Amortization charge for the period 30,682 42,007 280,478 26,724 519,935 3,182 903,008 Exchange adjustments (848 ) 20 - - - - (828 ) Discontinued operation: Amortization charge for the period 765 - 13,425 9,118 16,894 - 40,202 Reclassification to current assets classified as held for sale ( note 19 (1,422 ) - (38,037 ) (25,810 ) (47,814 ) - (113,083 ) At October 31, 2018 50,147 206,722 478,852 48,881 801,518 3,182 1,589,302 Net book amount at October 31, 2018 91,055 52,403 1,679,615 218,778 4,575,656 11,818 6,629,325 Net book amount at April 30, 2017 3,665 49,127 175,931 200,772 659,875 - 1,089,370 Purchased intangibles Purchased software Product Development costs Technology Trade names Customer relationships Lease contracts Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2016 22,028 185,546 303,672 217,510 761,634 - 1,490,390 Acquisitions ( note 39 - - 95,245 22,111 210,744 - 328,100 Additions 3,162 27,664 - - - - 30,826 Additions – external consultants - 612 - - - - 612 Exchange adjustments (555 ) - - - - - (555 ) At April 30, 2017 24,635 213,822 398,917 239,621 972,378 - 1,849,373 Accumulated amortization At May 1, 2016 20,061 142,297 153,888 22,854 184,735 - 523,835 Charge for the period 1,175 22,398 69,098 15,995 127,768 - 236,434 Exchange adjustments (266 ) - - - - - (266 ) At April 30, 2017 20,970 164,695 222,986 38,849 312,503 - 760,003 Net book amount at April 30, 2017 3,665 49,127 175,931 200,772 659,875 - 1,089,370 Net book amount at April 30, 2016 1,967 43,249 149,784 194,656 576,899 - 966,555 Intangible assets, with the exception of purchased software and internally generated product development costs, relate to identifiable assets purchased as part of the Group's business combinations. Intangible assets are amortized on a straight-line basis over their expected useful economic life - see Group accounting policy I. Expenditure totaling $91.2m (12 months to April 30, 2017: $31.4m) was made in the 18 months ended October 31, 2018, including $45.3m in respect of development costs and $46.8m of purchased software. The acquisitions of the HPE Software business, COBOL-IT and Covertix in the 18 months ended October 31, 2018 gave rise to an addition of $6,556.3m to purchased intangibles ( note 39 note 39 Of the $45.3m of additions to product development costs, $44.4m (April 30, 2017: $27.7m) relates to internal product development costs and $0.9m (April 30, 2017: $0.6m) to external consultants' product development costs. At October 31, 2018, the unamortized lives of technology assets were in the range of two to 10 years, customer relationships in the range of one to 10 years and trade names in the range of 10 to 20 years. Included in the consolidated statement of comprehensive income for the 18 months ended October 31, 2018 and the 12 months ended April 30, 2017 was: 18 months ended October 31, 2018 $’000 12 months ended April 30, 2017 1 $’000 Cost of sales: - amortization of product development costs 42,007 22,398 - amortization of acquired purchased technology 280,478 59,029 Selling and distribution: - amortization of acquired purchased trade names and customer relationships 549,841 124,254 Administrative expenses: - amortization of purchased software 30,682 1,070 Total amortization charge for the period 903,008 206,751 Research and development: - capitalization of product development costs 44,350 27,664 1 note |
Property, plant and equipment
Property, plant and equipment | 18 Months Ended |
Oct. 31, 2018 | |
Property, plant and equipment [Abstract] | |
Property, plant and equipment | 12 Property, plant and equipment Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2017 14,363 27,269 32,615 6,037 80,284 Continuing operations: Acquisition – HPE Software business (note 39) - 56,568 79,473 24,077 160,118 Acquisition – COBOL-IT (note 39) - - 52 - 52 Additions - 10,444 33,286 6,408 50,138 Disposals - (7,417 ) (27,105 ) (4,645 ) (39,167 ) Exchange adjustments (15 ) (3,609 ) (8,205 ) (2,467 ) (14,296 ) Discontinued operation: Additions - 20 2,018 29 2,067 Disposals - - (85 ) (15 ) (100 ) Exchange adjustments - 123 264 6 393 Reclassification to current assets classified as held for sale ( note 19) - (4,198 ) (9,050 ) (344 ) (13,592 ) At October 31, 2018 14,348 79,200 103,263 29,086 225,897 Accumulated depreciation At May 1, 2017 1,851 12,751 22,063 2,663 39,328 Continuing operations: Charge for the period 479 26,271 50,725 11,136 88,611 Disposals - (4,005 ) (26,858 ) (3,745 ) (34,608 ) Exchange adjustments (51 ) (1,354 ) (6,406 ) (2,696 ) (10,507 ) Discontinued operation: Charge for the period - 2,695 2,612 1,261 6,568 Disposals - - (66 ) (11 ) (77 ) Exchange adjustments - 29 107 2 138 Reclassification to current assets classified as held for sale ( note 19 - (2,078 ) (5,595 ) (133 ) (7,806 ) At October 31, 2018 2,279 34,309 36,582 8,477 81,647 Net book amount at October 31, 2018 12,069 44,891 66,681 20,609 144,250 Net book amount at May 1, 2017 12,512 14,518 10,552 3,374 40,956 Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2016 15,183 23,418 25,455 5,604 69,660 Reclassified from assets held for sale 888 - - - 888 Acquisition – Serena (note 39) - 1,068 648 211 1,927 Acquisition – GWAVA ( note 39) - - 111 84 195 Additions 75 3,536 7,739 377 11,727 Disposals - (450 ) (589 ) (218 ) (1,257 ) Exchange adjustments (1,783 ) (303 ) (749 ) (21 ) (2,856 ) At April 30, 2017 14,363 27,269 32,615 6,037 80,284 Accumulated depreciation At May 1, 2016 1,571 8,814 16,741 1,667 28,793 Charge for the period 454 4,170 6,132 1,038 11,794 Disposals - (79 ) (560 ) (98 ) (737 ) Exchange adjustments (174 ) (154 ) (250 ) 56 (522 ) At April 30, 2017 1,851 12,751 22,063 2,663 39,328 Net book amount at April 30, 2017 12,512 14,518 10,552 3,374 40,956 Net book amount at May 1, 2016 13,612 14,604 8,714 3,937 40,867 Depreciation for the 18 months ended October 31, 2018 of $95.2m (12 months ended April 30, 2017: $11.8m; 12 months ended April 30, 2016: $9.7m) is included within administrative expenses and cost of sales in the consolidated statement of comprehensive income. The carrying value of computer equipment held under finance leases and hire purchase contracts as at October 31, 2018 was $25.9m (April 30, 2017 $nil). |
Group entities
Group entities | 18 Months Ended |
Oct. 31, 2018 | |
Group entities [Abstract] | |
Group entities | 13 Group entities Subsidiaries Details of subsidiaries as at October 31, 2018 are provided below: Company name Country of incorporation Principal activities Key to Registered Office address Holding companies: 1 Micro Focus Midco Limited UK Holding company 1 2 Micro Focus Group Limited UK Holding company 1 3 Micro Focus CHC Limited UK Holding company 1 4 Micro Focus MHC Limited UK Holding company 1 5 Micro Focus Holdings Unlimited (formerly Micro Focus Holdings Limited) UK Holding company 1 6 Micro Focus (IP) Limited UK Holding company 1 7 Micro Focus (US) Holdings UK Holding company 1 8 Micro Focus IP Limited Cayman Islands Holding company 35 9 Novell Holdings Deutschland GmbH Germany Holding company 50 10 Micro Focus Finance Ireland Limited Ireland Holding company 67 11 Micro Focus Group Holdings Unlimited Ireland Holding company 66 12 Micro Focus International Holdings Limited Ireland Holding company 66 13 NetIQ Ireland Limited Ireland Holding company 66 14 Novell Cayman Software Unlimited Company Ireland Holding company 66 15 Novell Cayman Software International Unlimited Company Ireland Holding company 66 16 Novell Ireland Real Estate Unlimited Company Ireland Holding company 66 17 SUSE Linux Holdings Limited Ireland Holding company 66 18 Novell Software International Limited Ireland Holding company 66 19 Micro Focus Finance S.a.r.l Luxembourg Holding company 80 20 Minerva Finance S.à.r.l. Luxembourg Holding company 80 21 Borland Corporation USA Holding company 4 22 Micro Focus (US) Group, Inc USA Holding company 4 23 MA FinanceCo., LLC USA Holding company 4 24 The Attachmate Group, Inc. USA Holding company 4 25 Novell Holdings, Inc. USA Holding company 4 26 Novell International Holdings, Inc. USA Holding company 4 27 Micro Focus (US) International Holdings Inc. USA Holding company 4 28 Spartacus Acquisition Holdings Corp. USA Holding company 6 29 Spartacus Acquisition Corp. USA Holding company 6 30 Serena Software, Inc. USA Holding company 6 31 Serena Holdings Limited UK Holding company 1 32 Merant Holdings Limited UK Holding company 1 33 GWAVA ULC (formerly GWAVA Inc.) Canada Holding company 28 34 Seattle Holdings, Inc. USA Holding company 6 Trading companies: 35 Attachmate Group Australia Pty Limited Australia Sale and support of software 11 36 Borland Australia Pty Limited Australia Sale and support of software 11 37 Micro Focus Pty Limited Australia Sale and support of software 11 38 Attachmate Group Austria GmbH Austria Sale and support of software 14 39 Borland Entwicklung GmbH Austria Development of software 15 40 Attachmate Group Belgium BVBA Belgium Sale and support of software 16 41 Micro Focus SPRL (formerly Micro Focus NV) Belgium Sale and support of software 16 42 Borland Latin America Ltda Brazil Sale and support of software 19 43 Micro Focus Programmeação de Computadores Ltda Brazil Sale and support of software 19 44 Novell do Brasil Software Ltda Brazil Sale and support of software 19 45 Micro Focus APM Solutions Limited (EOOD) Bulgaria Development of software 25 46 Micro Focus (Canada) ULC (formerly Micro Focus (Canada) Limited) Canada Development, sale and support of software 27 47 Micro Focus Software (Canada), ULC Canada Sale and support of software 29 48 Novell Software (Beijing) Limited China Development, sale and support of software 37 Company name Country of incorporation Principal activities Key to Registered Office address Trading companies : 49 SUSE Linux s.r.o. Czech Republic Development, sale and support of software 42 50 Attachmate Group Denmark ApS (formerly Attachmate Group Demark A/s) Denmark Sale and support of software 44 51 Micro Focus Middle East FZ-LLC United Arab Emirates Sale and support of software 124 52 Attachmate Group France SARL France Sale and support of software 48 53 Borland (France) Sarl France Sale and support of software 48 54 Micro Focus SAS France Sale and support of software 48 55 Attachmate Group Germany GmbH Germany Sale and support of software 51 56 Micro Focus GmbH Germany Sale and support of software 51 57 SUSE Linux GmbH Germany Development, sale and support of software 52 58 Attachmate Group Hong Kong Limited Hong Kong Sale and support of software 56 59 Micro Focus India Private Limited India Support of software 60 60 Micro Focus Software India Private Limited India Development, sale and support of software 60 61 Relativity Technologies Private Limited India Sale and support of software 60 62 Attachmate Ireland Limited Ireland Sale and support of software 65 63 Micro Focus Ireland Limited Ireland Development, sale and support of software 66 64 Micro Focus Software (Ireland) Limited Ireland Development, sale and support of software 67 65 NetIQ Europe Limited Ireland Sale and support of software 65 66 Micro Focus Israel Limited Israel Development and support of software 69 67 Attachmate Group Italy Srl Italy Sale and support of software 73 68 Micro Focus Srl Italy Sale and support of software 73 69 Borland Co, Limited Japan Sale and support of software 78 70 Micro Focus KK Japan Sale and support of software 78 71 Novell Japan Limited Japan Sale and support of software 78 72 NetIQ KK Japan Sale and support of software 78 73 Novell Corporation (Malaysia) Sdn. Bhd. Malaysia Sale and support of software 83 74 Attachmate Group Netherlands B.V. Netherlands Sale and support of software 86 75 Authasas B.V. Netherlands Sale and support of software 86 76 Borland B.V. Netherlands Sale and support of software 86 77 Micro Focus B.V. (formerly Micro Focus NV) Netherlands Sale and support of software 86 78 Micro Focus Software (New Zealand) Unlimited (formerly Novell New Zealand Limited) New Zealand Sale and support of software 90 79 Micro Focus AS Norway Sale and support of software 91 80 Novell Portugal Informatica Lda Portugal Sale and support of software 94 81 Attachmate Group Singapore Pte. Limited Singapore Sale and support of software 100 82 Borland (Singapore) Pte. Limited Singapore Sale and support of software 100 83 Micro Focus Pte Limited Singapore Sale and support of software 100 84 Attachmate Group South Africa (Pty) Limited South Africa Sale and support of software 103 85 Micro Focus South Africa (Pty) Limited South Africa Sale and support of software 104 86 Micro Focus Korea Limited South Korea Sale and support of software 106 87 Novell Korea Co., Limited South Korea Sale and support of software 107 88 Attachmate Group Spain S.L. Spain Sale and support of software 108 89 Micro Focus S.L.U. Spain Sale and support of software 109 90 Attachmate Group Sweden AB Sweden Sale and support of software 112 91 Attachmate Group Schweiz AG Switzerland Sale and support of software 114 92 Micro Focus GmbH (formerly Micro Focus AG) Switzerland Sale and support of software 115 93 Novell (Taiwan) Co., Limited Taiwan Sale and support of software 119 94 Attachmate Teknoloji Sa Turkey Sale and support of software 121 95 Attachmate Sales UK Limited UK Sale and support of software 1 Company name Country of incorporation Principal activities Key to Registered Office address Trading companies : 96 Micro Focus IP Development Limited UK Development and support of software 1 97 Micro Focus Limited UK Sale and support of software 1 98 Novell U.K. Limited UK Sale and support of software 1 99 Novell UK Software Limited UK Sale and support of software 1 100 Micro Focus Software, Inc. USA Development and support of software 4 101 Attachmate Corporation USA Development and support of software 5 102 Micro Focus (US), Inc. USA Development and support of software 4 103 NetIQ Corporation USA Development and support of software 4 104 SUSE LLC USA Development and support of software 7 105 Borland Software Corporation USA Development and support of software 4 106 Serena Software Pty Limited Australia Sale and support of software 11 107 Serena Software Benelux BVBA Belgium Sale and support of software 16 108 Serena Software Do Brasil Ltda Brazil Sale and support of software 21 109 Serena Software SAS France Sale and support of software 48 110 Serena Software GmbH Germany Sale and support of software 54 111 Serena Software Japan KK Japan Sale and support of software 78 112 Serena Software Pte. Limited Singapore Sale and support of software 100 113 Serena Software SA Spain Sale and support of software 110 114 Serena Software Europe Limited UK Sale and support of software 1 115 Serena Software Ukraine LLC Ukraine Sale and support of software 123 116 GWAVA Technologies Inc. USA Sale and support of software 6 117 GWAVA EMEA GmbH Germany Sale and support of software 53 Dormant companies: 118 Cambridge Technology Partners do Brasil s.c. Ltda Brazil Dormant 20 119 NetManage Canada ULC (formerly NetManage Canada Inc.) Canada Dormant 27 120 Borland Canada Software ULC (formerly Borland Canada, Inc. Canada Dormant 28 121 Micro Focus International Limited Cayman Islands Dormant 35 122 NetIQ Software International Limited Cyprus Dormant 41 123 NOVL Czech s.r.o. Czech Republic Dormant 42 124 Attachmate Middle East LLC Egypt Dormant 46 125 Borland GmbH Germany Dormant 51 126 Attachmate (Hong Kong) Limited Hong Kong Dormant 56 127 Borland (H.K.) Limited Hong Kong Dormant 57 128 NetIQ Asia Ltd. Hong Kong Dormant 57 129 Attachmate India Private Limited India Dormant 59 130 Borland Software India Private Limited India Dormant 60 131 Cambridge Technology Partners India Private Limited India Dormant 60 132 Novell India Pvt. Limited India Dormant 61 133 SUSE Linux Ireland Limited Ireland Dormant 66 134 N.Y. NetManage (Yerushalayim) Limited Israel Dormant 70 135 Novell Israel Software Limited Israel Dormant 71 136 Authasas Advanced Authentication B.V. Netherlands Dormant 86 137 Borland (Holding) UK Limited UK* Dormant 1 138 Borland (UK) Limited UK* Dormant 1 139 Micro Focus APM Solutions Limited UK* Dormant 1 140 Micro Focus UK Limited UK* Dormant 1 141 NetIQ Limited UK* Dormant 1 142 Ryan McFarland Limited UK* Dormant 1 Company name Country of incorporation Principal activities Key to Registered Office address Dormant companies : 143 XDB (UK) Limited UK* Dormant 1 144 Borland Technology Corporation USA Dormant 4 145 CJDNLD, LLC USA Dormant 4 146 Micro Focus (IP) Holdings Limited UK Dormant 1 147 Micro Focus (IP) Ireland Limited Ireland Dormant 66 Acquisitions in the period ended October 31, 2018: HPE Software business: 148 Autonomy Australia Pty Limited Australia Sale and support of software 12 149 Autonomy Systems Australia Pty Limited Australia Sale and support of software 12 150 Entco Australia Pty Limited Australia Sale and support of software 12 151 Entcorp Australia Pty Limited Australia Sale and support of software 12 152 Autonomy Belgium BVBA Belgium Sale and support of software 17 153 Entco Belgium BVBA Belgium Sale and support of software 17 154 Entco Holdings L.P. Bermuda Holding company 18 155 Entco Brasil Servicos de Tecnologia Ltda Brazil Sale and support of software 22 156 Peregrine Systems do Brazil Limitada Brazil Sale and support of software 23 157 Verity Worldwide Limited British Virgin Islands Sale and support of software 24 158 Entco Bulgaria EOOD Bulgaria Sale and support of software 26 159 Autonomy Systems (Canada) Limited Canada Sale and support of software 32 160 Entco Software Canada Co. Logiciels Entco Canada Cie Canada Sale and support of software 33 161 Entcorp Canada, Inc. Canada Sale and support of software 34 162 Entco Bellatrix HoldCo Cayman Islands Sale and support of software 36 163 Entco Capital Co Cayman Islands Sale and support of software 36 164 Entco Investment Co Cayman Islands Sale and support of software 36 165 Entco Marigalante Limited Cayman Islands Sale and support of software 36 166 Autonomy Systems (Beijing) Limited Company China Sale and support of software 38 167 Shanghai Entco Software Technology Co., Limited China Sale and support of software 39 168 Entco CentroAmerica CAC Limitada Costa Rica Sale and support of software 40 169 Entco Costa Rica Limitada Costa Rica Sale and support of software 40 170 Entcorp Czechia, s.r.o. Czech Republic Sale and support of software 43 171 Entco Denmark ApS Denmark Sale and support of software 45 172 Entco France SAS France Sale and support of software 49 173 Entco Deutschland GmbH Germany Sale and support of software 55 174 EntCorp Hong Kong Limited Hong Kong Sale and support of software 58 175 Autonomy Software Asia Private Limited India Sale and support of software 64 176 Entco IT Services Private Limited India Sale and support of software 62 177 Entco Software India Private Limited India Sale and support of software 63 178 Entsoft Galway Limited Ireland Sale and support of software 68 179 Entsoft Holding Ireland Unlimited Company Ireland Holding company 68 180 Entsoft Ireland Limited Ireland Sale and support of software 68 181 Entco Interactive (Israel) Limited Israel Sale and support of software 72 182 Entcorp Software Israel Limited Israel Sale and support of software 72 183 Autonomy Italy Srl Italy Sale and support of software 74 184 Entco Italiana Srl Italy Sale and support of software 75 185 Enterprise Corp Italiana Srl Italy Sale and support of software 76 186 Verity Italia Srl Italy Sale and support of software 77 187 Entcorp Japan K.K. Japan Sale and support of software 79 188 Micro Focus Enterprise Limited Japan Sale and support of software 78 189 Entco Luxembourg Sarl Luxembourg Sale and support of software 81 190 Verity Luxembourg S.à r.l. Luxembourg Sale and support of software 82 191 Entco Software Malaysia Sdn. Bhd. Malaysia Sale and support of software 84 192 Entco Mexico, S. de R.L. de C.V. Mexico Sale and support of software 85 193 Entco Software México, S. de R.L. de C.V. Mexico Sale and support of software 85 Company name Country of incorporation Principal activities Key to Registered Office address Acquisitions in the period ended October 31, 2018 : HPE Software business : 194 Entcorp Software México, S. de R.L. de C.V. Mexico Sale and support of software 85 195 Autonomy HoldCo B.V. Netherlands Sale and support of software 87 196 Autonomy Netherlands BV Netherlands Sale and support of software 88 197 Entco Caribe B.V. Netherlands Sale and support of software 87 198 Entco Draco B.V. Netherlands Sale and support of software 87 199 Entco Eastern Holding B.V. Netherlands Holding company 87 200 Entco Eastern Holding II B.V. Netherlands Holding company 87 201 Entco Enterprise B.V. Netherlands Sale and support of software 87 202 Entco Gatriam Holding B.V. Netherlands Holding company 87 203 Entco HoldCo B.V. Netherlands Holding company 87 204 Entco HoldCo I B.V. Netherlands Holding company 87 205 Entco HoldCo II B.V. Netherlands Holding company 87 206 Entco HoldCo III B.V. Netherlands Holding company 87 207 Entco HoldCo IV B.V. Netherlands Holding company 87 208 Entco Holding Berlin B.V. Netherlands Holding company 87 209 Entco Holding Finance B.V. Netherlands Holding company 87 210 Entco Holding Hague B.V. Netherlands Holding company 87 211 Entco Holding Hague II B.V. Netherlands Holding company 87 212 Entco International Trade B.V. Netherlands Sale and support of software 87 213 Entco Nederland B.V. Netherlands Sale and support of software 87 214 Entco Puerto Rico B.V. Netherlands Sale and support of software 87 215 Entco Sinope Holding B.V. Netherlands Holding company 87 216 Entcorp Nederlands B.V. Netherlands Sale and support of software 88 217 Verity Benelux B.V. Netherlands Sale and support of software 88 218 Entcorp Philippines, Inc. Philippines Sale and support of software 92 219 Entco Polska sp. z o.o. Poland Sale and support of software 93 220 Entco Caribe B.V. LLC Puerto Rico Sale and support of software 95 221 Entco Puerto Rico B.V. LLC Puerto Rico Sale and support of software 96 222 Entco Software Romania SRL Romania Sale and support of software 97 223 Limited Liability Company Entco Russian Federation Sale and support of software 98 224 Autonomy Systems Singapore Pte Ltd Singapore Sale and support of software 101 225 Micro Focus Software Pte. Ltd (formerly - Entco Singapore (Sales) Pte. Ltd.) Singapore Sale and support of software 101 226 Entco Software Pte. Ltd. Singapore Sale and support of software 101 227 Autonomy Systems Software South Africa Pty Ltd South Africa Sale and support of software 105 228 Entco Field Delivery Spain, S.L.U. Spain Sale and support of software 111 229 EntCo Software Spain S.L.U. Spain Sale and support of software 111 230 Entco Sverige AB Sweden Sale and support of software 113 231 Entco International Sàrl Switzerland Sale and support of software 116 232 Entco Schweiz GmbH Switzerland Sale and support of software 117 233 Trilead GmbH Switzerland Sale and support of software 118 234 Entco Turkey Teknoloji Çözümle ri Limited Şirketi Turkey Sale and support of software 122 235 Entco Software Services Middle East FZ-LLC United Arab Emirates Sale and support of software 125 236 Autonomy Systems Limited United Kingdom Sale and support of software 2 237 Entco Foreign HoldCo Limited United Kingdom Holding company 2 238 Entco Situla Holding Limited United Kingdom Holding company 2 239 Entcorp Marigalante UK Limited United Kingdom Sale and support of software 2 240 Entcorp UK Limited United Kingdom Sale and support of software 2 241 Longsand Limited United Kingdom Sale and support of software 2 242 ArcSight, LLC USA Sale and support of software 10 243 Entco Andromeda LLC USA Sale and support of software 10 244 Entco Brazil Holdings LLC USA Holding company 8 245 Entco Delaware LLC USA Sale and support of software 10 Company name Country of incorporation Principal activities Key to Registered Office address Acquisitions in the period ended October 31, 2018 : HPE Software business : 246 Entco Government Software LLC USA Sale and support of software 10 247 Entco Holdings, Inc. USA Holding company 10 248 Entco MS, Inc. USA Sale and support of software 10 249 Entco Technologies, Inc. USA Sale and support of software 10 250 Entco, LLC USA Sale and support of software 10 251 EntIT Software LLC USA Sale and support of software 10 252 MicroLink LLC USA Sale and support of software 10 253 Seattle Escrow Borrower LLC USA Holding company 10 254 Seattle SpinCo, Inc. USA Holding company 10 255 Stratify, Inc. USA Sale and support of software 10 256 Vertica Systems, LLC USA Sale and support of software 10 257 Voltage Security International, Inc. USA Sale and support of software 10 COBOL IT: 258 Cobol-IT, SAS France Sale and support of software 47 New companies incorporated in the period ended October 31, 2018: 259 SUSE Software Solutions Australia Pty Limited Australia Sale and support of software 13 260 Serena Software Canada Limited Canada Sale and support of software 30 261 SUSE Software Solutions Canada ULC Canada Sale and support of software 31 262 SUSE International Holdings GmbH Germany Holding company 52 263 Attachmate Australasia Pty Limited Australia Sale and support of software 11 264 SUSE Software Solutions Hong Kong Limited Hong Kong Sale and support of software 59 265 SUSE Software Solutions Netherlands BV Netherlands Sale and support of software 89 266 Micro Focus Software (IP) Holdings Limited UK Holding company 1 267 SUSE Software Solutions International Services Limited Ireland Sale and support of software 66 268 SUSE Software Solutions Ireland Limited Ireland Sale and support of software 66 269 Micro Focus LLC Saudi Arabia Sale and support of software 99 270 SUSE Software Solutions South Africa (Pty) Limited South Africa Sale and support of software 102 271 Micro Focus Enterprise (Tunisia) LLC Tunisia Sale and support of software 120 272 SUSE Software Solutions UK Limited UK Sale and support of software 3 273 Micro Focus Integration Holdings Limited UK Holding company 1 274 Micro Focus Integration Limited UK Sale and support of software 1 275 Micro Focus Midco Holdings Limited UK Holding company 1 276 Marcel Holdings LLC USA Sale and support of software 9 * The above companies incorporated in the UK are exempt from audit and from preparing Annual Accounts. These companies, with the exception of Novell Japan Ltd ( note 34 Registered office addresses: (1) The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN (2) Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom (3) Cornwall Court, 19 Cornwall Street, Birmingham, B3 2DT United Kingdom (4) The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. (5) 505 Union Ave SE STE120, Olympia, WA 98501, U.S.A. (6) The Company Corporation, 2711 Centerville Rd, STE 400, Wilmington, New Castle, DE19808, U.S.A. (7) CT Corporation, 155 Federal St. Suite 700, Boston, MA02110, U.S.A. (8) 1209 Orange St, Wilmington, New Castle, DE, 19801, U.S.A. (9) Corporation Service Company, 251 Little Falls Drive, Wilmington, New Castle, DE19808, U.S.A. (10) 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. (11) Level 8, 76 Berry Street, North Sydney, NSW 2060 Australia (12) 410 Concord Road, Rhodes, NSW 2138, Australia (13) Level 17, 100 Barangaroo Avenue, Barangaroo NSW 2000, Australia (14) Parkring 2, 1010, Vienna, Austria (15) Donau Centre, Hauptstrasse 4-10, Linz, 4040, Austria (16) EU Parliament, 4th Floor, 37 De Meeussquare, Brussels, 1000, Belgium (17) Pegasuslaan 5 1831 Diegem Belgium (18) 4th Floor, Washington House, 16 Church Street, Hamilton, HM 11, Bermuda (19) Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002 Brazil (20) Rua Arizonia, 1349 10th Floor, Sao Paulo, 04567-003, Brazil (21) Rua Dom Jose de Barros, 177, 3rd Floor, Suite 302, Villa Buarque, Sao Paulo 01038 ‑ (22) Av Marcos Penteado De Ulhoa Rodrigues, No 939, Andar 8 Conj 818 Torre 1, 06.460-040, Tambore, Barueri, Brazil (23) Avenida das nações Unidas, nº 12.901, conjunto 2302, sala 72, Itaim Bibi, São Paulo, CEP 04578, Brazil (24) Appleby Corporate Services (BVI) Limited, Jayla Place, PO Box 3190, Road Town, Tortola, VG1110, British Virgin Islands (25) 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria (26) 1715 Sofia, Mladost district, Business Park Sofia, Building 9, Sophia, Bulgaria (27) 199 Bay Street, Suite 4000, Toronto, Ontario, M5L 1A9, Canada (28) Suite 2600, Three Bentall Centre, 595 Burrard Street, PO Box 49314, Vancouver BC V7X 1L3, Canada (29) 4300 Bankers Hall West, 888 - 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada (30) Suite 800, 1959 Upper Water street, PO BOX 997 Halifax, B3J 2X2 NS Canada (31) 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada (32) 200-204 Lambert Street, Whitehorse, YT, Y1A 3T2 Canada (33) 161 Bay Street, Suite 2700 Toronto, ON M5J 2S1 Canada (34) Barker House 570 Queen Street, Suite 600, Fredericton, NB, E3B 6Z6 Canada (35) PO Box 309, Ugland House, South Church Street, George Town, South Cayman, KY1-1104, Cayman Islands (36) 18 Forum Lane, Camana Bay, P.O. Box 258, Grand Cayman, 1104, Cayman Islands (37) 3603-3606 Off Tow A, No.7, Dongsanhuan, Beijing, 100020, People’s Republic of China (38) Room 507, 508 Tower A, Raycom Info Tech Park No. 2, Science Institute, South Road, Beijing, 100080, China (39) Floor 2, Building 1, No. 799 Naxian Road, Shanghai, China (40) Calle 7 Avenida 7 y 9, Edificio 751, Barrio Amon, San Jose, Costa Rica (41) 54 Digeni Akrita, Akrita 2nd Floor, Office 201-202, PC 1061, Nicosia, Cyprus (42) Krizikova 148/34, Karlin, 186 00 Praha 8, Czech Republic (43) Za Brumlovkou 1559/5, Michle, Prague, 140 00, Czech Republic (44) Lyngsø Alle 3b, Hørsholm, 2970, Denmark (45) Lautruphoj 1-3 2750 Ballerup Denmark (46) 19 Helmy Elmasry Street, Almaza, Cairo, Egypt (47) 231 rue Saint Honore, Paris, 75001, France (48) Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris 92911, France (49) 1 avenue du Canada, Les Ulis, 91947, France (50) Amtsgericht Nürnberg Germany (51) Fraunhoferstrasse 7, Ismaning, 85737, Germany (52) Maxfeldstrasse 5 90409 Nürnberg Germany (53) Von-Braun-Strasse 38a 48683 Ahaus Germany (54) Nöerdlicher Zubringer 9-11, 40470, Düsseldorf, Germany (55) Herrenberger Str. 140, 71034 Boeblingen, Germany (56) 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong (57) Level 54, Hopewell Centre, 183 Queens Road East, Hong Kong (58) 35/F Central Plaza, 18 Harbour Road, Wanchai, Hong Kong (59) U&I Corporation Centre, 47 Echelon, Sector 32, Gurgaon Harayana, India (60) Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasandra Post Bangalore – 560093, India (61) Leela Galleria, 1st Floor, Andheri Kurla Road, Andheri (East), Mumbai – 400059, India (62) 24 Salarpuria Arena, Hosur Main Road, Adugodi, Bangalore, 560-030, India (63) 66/1, 6th Floor,Olympia Building, Bagmane Tech Park, Byrasandra, CV Raman Nagar, Bangalore, Karnataka, 560093, India (64) 2Floor, Hibiscus,Vrindavan Tech Village,Marathahalli Outer Ring Rd, Bangalore, India, 560037, India (65) Building 2, 2nd Floor, Parkmore East Business Park, Galway, Ireland (66) 70 Sir John Rogerson’s Quay, Dublin 2, Ireland (67) Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland (68) Liffey Park Technology Campus, Barnhall Road, Leixlip, Co. Kildare, Ireland (69) Matam Advanced Tech Center, Building 5/1, Haifa, 31 905, Israel (70) Scientific Industries Center, Haifa, 33262, Israel (71) 17 Hatidhar St, Raannana, 43665, Israel (72) 5 Altalef St., Yahud, Israel (73) Viale Sarca 235, 20126 Milano Italy (74) Via Vittor Pisani. 16, Milan, 20124, Italy (75) Via C. Donat Cattin 5, 20063 Cernusco sul Naviglio (MI) Italy (76) Corso Matteotti 1/A, Milan, 20121, Italy (77) Via S. Maria alla Porta n.9, Milan, 20123, Italy (78) Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan (79) No. 8 Center Plaza Bldg, 5F, 1-10-16 Horidomecho Nihonbashi, Chuo-ku, Tokyo 103-0012, Japan (80) 20, rue des Peupliers, 2328, Luxembourg (81) 75, Parc d'Activités Capellen, Capellen, 8308, Luxembourg (82) 5, Rue Guillaume Kroll, L - 1882, Luxembourg (83) Unit 501 Level 5 Uptown 1, 1 Jalan SS2, Selangor Darul Ehsan, Malaysia (84) Level 21 - Suite 21.01, The Gardens South Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia (85) Periferico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, C.P. 45610, Jalisco, Mexico (86) Raoul Wallenbergplein 23, 2404 ND Alphen a/d Rijn, Netherlands (87) Startbaan 16, 1187 XR, Amstelveen, Netherlands (88) Coltbaan 31, Nieuwegein, 3439 NG, Netherlands (89) Herengracht 282, 1016BX Amsterdam, Netherlands (90) Simpson Grierson, Level 27, 88 Shortland Street Auckland 1141 New Zealand (91) 7th Floor, Dronning Eufemias gate 16, 0191 Oslo, Norway (92) 7th Floor Robinson Summit Center, 6783 Ayala Avenue, Makati City, Metro Manila, Philippines (93) Centrum Biurowe Globis, Powstańców Śląskich 7A, 53-332 Wrocław, Po land (94) Centro Empresarial Torres de Lisboa, Torre G 1* Andar Sala 111, Rue Tomas da Fonseca, Lisbon, Portugal (95) 110 Highway North Km 28, Bldg 1, Aguadilla, 00605, Puerto Rico (96) 350 Chardon Avenue, Chardon Tower, Suite 801, San Juan, 00918, Puerto Rico (97) Bucharest, 3 George Constantinescu Street, BOC Office Building, 4th floor, entrance B, 2nd District, PC 020339, Romania (98) Leningradskoye shosse 16A, building 3, Moscow, 125171, Russian Federation (99) Maazar Street, Futuro Tower, 3rd Floor, P.O. Box 69171, Riyadh 11547, Saudi Arabia (100) 80 Robinson Road #02-00, 068898, Singapore (101) #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, Singapore, Singapore (102) 22 Smith Street, Braamfontein, Johannesburg, Gauteng, 2000, South Africa (103) Morning View Office Park 255 Rivonia Road, Morningside, South Africa (104) 4th Floor Aloe Grove, Houghton Estate Office Park, 2 Osborn Road, Houghton, 2198, South Africa (105) PO Box 2238, Florida Hills, 1716, South Africa (106) Yeoidodong, SK Building, 15F, 31 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, South Korea (107) Gangnam Finance Centre, Level 41, 152 Teheren-ro, Gangnam-gu, Seoul - 06236 South Korea (108) C/Jose Echegaray 8, Las Rozas, Madrid 28230, Spain (109) Paseo de la Castellana 42, Madrid, 28046, Spain (110) Ronda General Mitre 28-30, Barcelona 08017, Spain (111) Calle José Echegaray 8, Las Rozas de Madrid, 28232 Madrid, 28232, Spain (112) Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden (113) Gustav III:s Boulevard 36, SE-169 85, Stockholm, Sweden, SE, Sweden (114) Merkurstrasse 14, 8953 Dietikon, Switzerland (115) Lindenstrasse 26, Zurich, 8008, Switzerland (116) Jean-Baptiste Vandelle 3A, 1290 Versoix Switzerland (117) 1, Ueberlandstrasse, 8600 Duebendorf, Switzerland (118) Rembach 7, Altendorf, 8852, Switzerland (119) Room B 26/F #26 Tun-Hwa S Road Sec, Taipei ROC 106, Taiwan (120) ZI Chotrana, Technopôle El Ghazala, Lot N° 45, 2088, Ariana, Tunisia (121) Palladium Ofis Binasi, Halk Cad, No.8/A Kat 2, Atasehir 34748, Istanbul, Turkey (122) Barbaros Mah.Kardelen SK. No. 2/42-43 Atasehir, Istanbul, Turkey (123) 13 Pimonenko str, building 1, Office 1B/22, Kiev 04050, Ukraine (124) Dubai Internet City, DIC Building 2, 3rd Floor, Suite 315, Dubai, United Arab Emirates (125) Shatha Tower, 12th floor, Dubai Internet City, Dubai, United Arab Emirates |
Investments in associates
Investments in associates | 18 Months Ended |
Oct. 31, 2018 | |
Investments in associates [Abstract] | |
Investments in associates | 14 Investments in associates Open Invention Network LLC (“OIN”), a strategic partnership for the Group, licences its global defensive patent pool in exchange for a pledge of non-aggression, which encourages freedom of action in Linux and the sharing of new ideas and inventions. There are no significant restrictions on the ability of associated undertakings to transfer funds to the parent. There are no contingent liabilities to the Group’s interest in associates. At October 31, 2018 the Group had a 12.5% interest ($9.6m) (April 30, 2017: 12.5%, $11.5m) investment in OIN. There are eight (April 30, 2017: eight) equal shareholders of OIN, all holding 12.5% (April 30, 2017: 12.5%) interest, and each shareholder has one board member and one alternative board member. The Group exercises significant influence over OIN’s operation and therefore accounts for its investment in OIN as an associate. The Investment in Associates is part of discontinued operations, which will be disposed of with the sale of the SUSE business segment and as such has been transferred to assets held for sale (note 19). The Group uses the equity method of accounting for its interest in associates. The following table shows the aggregate movement in the Group’s investment in associates: 18 months ended October 31, 2018 12 months ended April 30, 2017 $ ’000 $ ’000 At 1 May 11,457 12,711 Gain on dilution of investment - 966 Share of post-tax loss of associates (1,809 ) (2,220 ) (1,809 ) (1,254 ) Reclassification to current assets classified as held for sale (note 19) (9,648 ) - - 11,457 Details of the Group’s principal associates are provided below. Company name Country of incorporation and principal place of business Proportion held Principal activities Open Invention Network LLC USA 12.5 % Sale and support of software The accounting period-end date of the associate consolidated within the Group’s financial statements is December 31, and we obtain its results on a quarterly basis. The Group records an adjustment within the consolidated financial statements to align the reporting period of the associate and the Group. Following the change in period-end for the Group to October 31, from April 30, we now report based on the September 30, 2018 quarter rather than the March 31, 2017 quarter end. The assets, liabilities, and equity of the Group’s associate as at September 30, 2018 (2017: March 31, 2017) and the revenue and loss of the Group’s associate for the period ended September 30, 2018 (2017: March 31, 2017) with the corresponding adjustment to align the reporting period was as follows: September 30, 2018 March 31, 2017 $ ’000 $ ’000 Non-current assets 38,206 43,649 Current assets 41,672 50,137 Current liabilities (672 ) (604 ) Non-current liabilities (1,028 ) (527 ) Net assets 78,178 92,655 Equity (78,178 ) (92,655 ) 18 months ended September 30, 2018 12 months March 31, 2017 $ ’000 $ ’000 Revenue - - Net loss 14,477 16,212 18 months to October 31, 2018 12 months to April 30, 2017 $ ’000 $ ’000 Loss attributable to the Group for the period ended 30 September 2018 (March 31, 2017 (14.3% ownership to June 6, 2016, 12.5% thereafter)) 1,810 2,095 Adjustment on estimated October 31, 2018 result attributable to the Group (April 30, 2017) (1 ) 125 Loss attributable to the Group for the period ended October 31, 2018 (April 30, 2017 (14.3% ownership to June 6, 2016, 12.5% thereafter)) 1,809 2,220 |
Other non-current assets
Other non-current assets | 18 Months Ended |
Oct. 31, 2018 | |
Other non-current assets [Abstract] | |
Other non-current assets | 15 Other non-current assets October 31, 2018 April 30, 2017 $ ’000 $ ’000 Employee Benefit Deposit 31,132 - Long-term rent deposits 4,140 2,844 Long Term Prepaid Expenses 2,893 - Other 625 249 38,790 3,093 Employee benefit deposits are held in Germany ($15.4m), Israel ($10.2m), Italy ($2.7m) and Netherlands ($2.8m). Employers in Germany, Italy and Israel are required by law maintain funds to satisfy certain employee benefit liabilities, including free-time off, compensation for involuntary termination of employment. These investment-based deposits are managed by third parties and the carrying values are marked-to-market based on third party investment reports. In addition, a cash deposit was held in Netherlands on behalf of certain employees to cover legacy employment subsistence benefits. |
Inventories
Inventories | 18 Months Ended |
Oct. 31, 2018 | |
Inventories [Abstract] | |
Inventories | 16 Inventories October 31, 2018 April 30, 2017 $ ’000 $ ’000 Work in progress - 13 Finished goods 204 51 204 64 The Group utilized $0.3m (12 months to April 30, 2017: $0.1m; 12 months to April 30, 2016: $0.1m) of inventories included in cost of sales during the 18 months to October 31, 2018. |
Trade and other receivables
Trade and other receivables | 18 Months Ended |
Oct. 31, 2018 | |
Trade and other receivables [Abstract] | |
Trade and other receivables | 17 Trade and other receivables October 31, 2018 April 30, 2017 $ ’000 $ ’000 Trade receivables 1,089,589 266,225 Less: provision for impairment of trade receivables (41,860 ) (2,599 ) Trade receivables net 1,047,729 263,626 Prepayments 59,966 23,239 Other receivables 79,062 1,534 Accrued income 85,276 1,110 1,272,033 289,509 Concentrations of credit risk with respect to trade receivables are limited due to the Group’s customer base being large and unrelated. The Group considers the credit quality of trade and other receivables on a customer-by-customer basis. The Group considers that the carrying value of the trade and other receivables that is disclosed below gives a fair presentation of the credit quality of the assets. This is considered to be the case as there is a low risk of default due to the high number of recurring customers and credit control policies. In determining the recoverability of a trade receivable, the Group considers the ageing of each debtor and any change in the circumstances of the individual receivable. Due to this, management believes there is no further credit risk provision required in excess of the normal provision for doubtful receivables. At October 31, 2018 and April 30, 2017, the carrying amount approximates the fair value of the instrument due to the short-term nature of the instrument. The trade receivables of $1,089.6m at October 31, 2018 is net of the $21.5m provision for impairment of trade receivables in the opening balance for the HPE Software business ( note 39 At October 31, 2018, trade receivables of $249.3m (April 30, 2017: $39.9m) were past due but not impaired. These relate to a large number of independent companies for whom there is no recent history of default. The amounts are regarded as recoverable. The average age of these receivables was 107 days in excess of due date (April 30, 2017: 24 days). As at October 31, 2018, trade receivables of $41.9m (April 30, 2017: $2.6m) were either partially or fully impaired. The amount of the provision was $41.9m (April 30, 2017: $2.6m). The ageing of these receivables is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Up to three months - 48 Three to four months 3,621 731 Over four months 38,239 1,820 41,860 2,599 Movements in the Group provision for impairment of trade receivables were as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 At 1 May 2,599 4,486 Provision for receivables impairment 40,016 2,023 Receivables written off as uncollectable (686 ) (1,271 ) Receivables previously provided for but now collected (53 ) (2,542 ) Exchange adjustments (16 ) (97 ) At October 31 / April 30 41,860 2,599 The creation and release of provision for impaired receivables have been included in selling and distribution costs in the consolidated statement of comprehensive income. Amounts charged in the allowance account are generally written off when there is no expectation of recovering additional cash. The Group does not hold any collateral as security. |
Cash and cash equivalents
Cash and cash equivalents | 18 Months Ended |
Oct. 31, 2018 | |
Cash and cash equivalents [Abstract] | |
Cash and cash equivalents | 18 Cash and cash equivalents October 31, 2018 April 30, 2017 $ ’000 $ ’000 Cash at bank and in hand 387,115 146,832 Short-term bank deposits 236,687 4,151 623,802 150,983 Reclassification to current assets classified as held for sale (note 19) (2,906 ) - Cash and cash equivalents 620,896 150,983 At October 31, 2018 and April 30, 2017, the carrying amount approximates to the fair value. The Group’s credit risk on cash and cash equivalents is limited as the counterparties are well established banks with high credit ratings. The credit quality of cash and cash equivalents is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 S&P/Moody’s/Fitch rating: AAA 231,517 33,057 AA- 80,975 69,814 A+ 260,404 25,221 A 20,063 6,355 A- 3,767 5,820 BBB+ 4,546 471 BBB 994 903 BBB- 558 165 BB+ 2,042 357 BB 32 283 BB- 15,187 8,221 B+ - 24 CCC+ 212 193 C- 321 - Not Rated 278 99 620,896 150,983 Where the opinions of the rating agencies differ, the lowest applicable rating has been assigned to the counterparty. |
Discontinued operation and asse
Discontinued operation and assets classified as held for sale | 18 Months Ended |
Oct. 31, 2018 | |
Discontinued operation and assets classified as held for sale [Abstract] | |
Discontinued operation and assets classified as held for sale | 19 Discontinued operation and assets classified as held for sale Discontinued operation – SUSE business segment On July 2, 2018, the Group announced the proposed sale of the SUSE business segment to Blitz 18-679 GmbH (subsequently renamed to Marcel Bidco GmbH), a newly incorporated wholly-owned subsidiary of EQTVIII SCSp which is advised by EQT Partners. The total cash consideration of $2.535bn is on a cash and debt free basis and subject to normalisation of working capital. On August 21, 2018, Shareholders voted to approve the proposed transaction whereby the Company has agreed to sell its SUSE business segment to Marcel Bidco GmbH, a newly incorporated, wholly-owned subsidiary of EQTVIII SCSp, for a total cash consideration of approximately $2.535bn, subject to customary closing adjustments. Following this vote, all applicable antitrust, competition, merger control and governmental clearances have been obtained. Completion of the transaction is now only conditional upon completing the carve-out of the SUSE business segment from the rest of the Micro Focus Group (and certain related matters) and it is currently anticipated that this will be satisfied such that the transaction will complete in the first calendar quarter of 2019. As set out in the circular to shareholders in advance of the vote, net sale proceeds after tax, transaction costs and customary closing adjustments are estimated to be $2.06bn and these funds will be used to make a required debt repayment in accordance with the Credit Agreement. It is intended that the balance will be returned to shareholders (“Return of Value”). A circular to shareholders in respect of the Return of Value will be despatched in due course. Due to the proposed sale and subsequent shareholder approval, the SUSE business segment has been treated as discontinued in these financial statements. The SUSE Business, a pioneer in Open Source software, develops, markets and supports an enterprise grade Linux operating system, Open Source software-defined infrastructure and application delivery solutions that give enterprises greater control and flexibility over their IT systems. Micro Focus believes the disposal consideration represents a highly attractive enterprise valuation for the SUSE business at approximately 7.9x revenue of the SUSE Business for the twelve months ended October 31, 2017. Micro Focus believes EQT provides a strong long-term investor for the SUSE Business and allows Micro Focus to continue to focus upon its longstanding and consistent strategy of delivering value to customers and shareholders through effective management of infrastructure software assets in an increasingly consolidating sector. Discontinued operation – Financial performance 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $’000 $’000 $’000 Revenue 538,160 303,429 253,816 Operating costs (427,014 ) (238,632 ) (208,268 ) Profit before taxation 111,146 64,797 45,548 Taxation (34,206 ) (31,077 ) (18,615 ) Profit for the period from discontinued operation 76,940 33,720 26,933 Discontinued operation – Cash flow The cash flow statement shows amounts related to the discontinued operation. 18 months ended October 31, 2018 $’000 12 months ended April 30, 2017 $’000 12 months ended April 30, 2016 $’000 Net cash inflows from operating activities 136,058 70,411 66,107 Net cash outflows from investing activities (2,512 ) (7,430 ) (1,298 ) Net cash flows from financing activities - - - Net Assets classified as held for sale October 31, 2018 Reported in: Current assets Current liabilities Total $ ’000 $ ’000 $ ’000 SUSE 1,114,264 (427,236 ) 687,028 Atalla 28,187 (10,463 ) 17,724 1,142,451 (437,699 ) 704,752 The net asset assets held for sale relating to the disposals of SUSE and Atalla are detailed in the tables below. These include non-current assets and non-current liabilities that are shown as current assets and liabilities in the Consolidated statement of financial position. A. SUSE The assets and liabilities relating to SUSE have been presented as held for sale following the shareholder approval on August 21, 2018. Costs to sell have been included in trade and other payables. Note October 31, 2018 $ ’000 Non-current assets Goodwill 10 859,566 Other Intangible assets 11 165,662 Property, plant and equipment 12 5,786 Investment in associates 14 9,648 Deferred tax assets 1,586 Long-term pension assets 27 1,543 Other non-current assets 2,020 1,045,811 Current assets Trade and other receivables 65,547 Cash and cash equivalents 2,906 68,453 Current Assets 1,114,264 Current liabilities Trade and other payables (37,833 ) Provisions 26 (664 ) Current tax liabilities (1,156 ) Deferred income (218,349 ) (258,002 ) Non-current liabilities Deferred income (160,791 ) Retirement benefit obligations 27 (5,530 ) Long-term provisions 26 (2,376 ) Other non-current liabilities (537 ) (169,234 ) Current Liabilities (427,236 ) Net assets classified as held for sale 687,028 B. Atalla On 18 May 2018 the Company entered into an agreement with Utimaco Inc. (“Utimaco”), under which Utimaco would acquire Atalla for $20 million in cash. The deal was subject to regulatory approval by the Committee on Foreign Investment in the United States (“CFIUS”). CFIUS placed the deal into investigation in September and final approval was received 10 October 2018. The deal closed on 5 November 2018 and Utimaco acquired the Atalla HSM product line, the Enterprise Security Manger (“ESKM”) product line, and related supporting assets, including applicable patents and other IP. The assets and liabilities relating to the Atalla business included in the Financial Statements at October 31, 2018 amount to $17.7m. October 31, 2018 $ ’000 Goodwill 27,957 Property, plant and equipment 230 Non-current assets 28,187 Deferred income (10,463 ) Current Liabilities (10,463 ) Net assets classified as held for sale 17,724 |
Trade and other payables - curr
Trade and other payables - current | 18 Months Ended |
Oct. 31, 2018 | |
Trade and other payables - current [Abstract] | |
Trade and other payables - current | 20 Trade and other payables – current October 31, 2018 April 30, 2017 $ ’000 $ ’000 Trade payables 46,096 16,891 Tax and social security 46,525 3,032 Accruals 584,296 150,119 676,917 170,042 At October 31, 2018 and at April 30, 2017, the carrying amount approximates to the fair value. Accruals include vacation, payroll and employee taxes ($147.0m), commission and employee bonuses ($162.7m), integration expenses ($44.5m) and consulting and audit fees ($30.3m). |
Borrowings
Borrowings | 18 Months Ended |
Oct. 31, 2018 | |
Borrowings [Abstract] | |
Borrowings | 21 Borrowings October 31, 2018 April 30, 2017 $ ’000 $ ’000 Bank loan secured 4,996,913 1,595,188 Unamortized prepaid facility arrangement fees and original issue discounts (151,033 ) (33,652 ) 4,845,880 1,561,536 October 31, 2018 April 30, 2017 Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts Total Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts T Reported within: $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Current liabilities 50,347 (46,645 ) 3,702 83,788 (12,604 ) 71,184 Non-current liabilities 4,946,566 (104,388 ) 4,842,178 1,511,400 (21,048 ) 1,490,352 4,996,913 (151,033 ) 4,845,880 1,595,188 (33,652 ) 1,561,536 The following Facilities were drawn as at October 31, 2018: · The $1,503.8m senior secured term loan B-2 issued by MA FinanceCo LLC is priced at LIBOR plus 2.25% (subject to a LIBOR floor of 0.00%); · The $2,580.5m senior secured seven-year term loan B issued by Seattle SpinCo. Inc. is priced at LIBOR plus 2.50% (subject to a LIBOR floor of 0.00%) with an original issue discount of 0.25%; · The $382.1m senior secured seven-year term loan B-3 issued by MA FinanceCo LLC is priced at LIBOR plus 2.50% (subject to a LIBOR floor of 0.00%) with an original issue discount of 0.25%; and · The €466.5m (equivalent to $530.5m) senior secured seven-year term loan B issued by MA FinanceCo LLC is priced at EURIBOR plus 2.75% (subject to a EURIBOR floor of 0.00%) with an original issue discount of 0.25%. The following Facilities were undrawn as at October 31, 2018: · A senior secured revolving credit facility of $500.0m, (“Revolving Facility”), with an interest rate of 3.25% above LIBOR on amounts drawn (and 0.375% on amounts undrawn) thereunder (subject to a LIBOR floor of 0.00%). The only financial covenant attaching to these facilities relates to the Revolving Facility, which is subject to an aggregate net leverage covenant only in circumstances where more than 35% of the Revolving Facility is outstanding at a fiscal quarter end. At October 31, 2018, $nil of the Revolving Facility was drawn together with $4,996.9m of Term Loans giving gross debt of $4,996.9m drawn. As a covenant test is only applicable when the Revolving Facility is drawn down by 35% or more, and $nil of Revolving Facility was drawn at October 31, 2018, no covenant test is applicable. The movements on the Group loans in the period were as follows: Term Loan B-2 Term Loan B Term Loan C Term Loan B-3 Seattle Loan B Euro Term Loan B Revolving Facility Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1, 2016 - 1,112,250 450,000 - - - 225,000 1,787,250 Repayments - (9,562 ) (37,500 ) - - - (325,000 ) (372,062 ) Draw downs - - - - - - 180,000 180,000 Transfer 1,515,188 (1,102,688 ) (412,500 ) - - - - - At April 30, 2017 1,515,188 - - - - - 80,000 1,595,188 Acquisitions - - - - 2,600,000 - - 2,600,000 Draw downs - - - 385,000 - 523,815 135,000 1,043,815 Repayments (11,364 ) - - (2,888 ) (19,500 ) (4,184 ) (215,000 ) (252,936 ) Foreign exchange - - - - - 10,846 - 10,846 At October 31, 2018 1,503,824 - - 382,112 2,580,500 530,477 - 4,996,913 Borrowings are stated after deducting unamortized prepaid facility fees and original issue discounts. Facility arrangement costs and original issue discounts are amortized between three and six years. The fair value of borrowings equals their carrying amount. Maturity of borrowings The maturity profile of the anticipated future cash flows including interest in relation to the Group’s borrowings on an undiscounted basis which, therefore, differs from both the carrying value and fair value, is as follows: As at October 31, 2018: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Within one year 84,294 22,383 151,161 20,080 - 277,918 In one to two years 83,782 22,246 150,235 19,971 - 276,234 In two to three years 82,895 22,009 148,629 19,782 - 273,315 In three to four years 1,462,056 21,821 147,363 19,632 - 1,650,872 In four to five years - 21,634 146,097 19,483 - 187,214 In more than five years - 374,164 2,526,819 512,738 - 3,413,721 At October 31, 2018 1,713,027 484,257 3,270,304 611,686 - 6,079,274 As at April 30, 2017: Term Loan B-2 Revolving Facility Total $ ’000 $ ’000 $ ’000 Within one year 60,168 80,000 140,168 In one to two years 71,181 - 71,181 In two to three years 70,769 - 70,769 In three to four years 70,053 - 70,053 In four to five years 1,497,867 - 1,497,867 At April 30, 2017 1,770,038 80,000 1,850,038 Assets pledged as collateral An all assets security has been granted in the US and England & Wales by certain members of the Micro Focus Group organized in such jurisdictions, including security over intellectual property rights and shareholdings of such members of the Micro Focus Group. |
Finance leases
Finance leases | 18 Months Ended |
Oct. 31, 2018 | |
Finance leases [Abstract] | |
Finance leases | 22 Finance leases October 31, 2018 April 30, 2017 $ ’000 $ ’000 Current 13,560 - Non-current 14,923 - 28,483 - Finance lease liabilities – minimum lease payments: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Within one year 15,136 - Between one and five years 15,984 - 31,120 - Future lease charges (2,637 ) - 28,483 - The carrying value of computer equipment held under finance leases and hire purchase contracts as at October 31, 2018 was $25.9m (April 30, 2017 $nil) (note 12). Finance lease liabilities – present value of minimum lease payments: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Within one year 13,560 - Between one and five years 14,923 - 28,483 - The Group’s obligations under finance leases are secured by charges over the related leased assets. The weighted average fixed interest rate on the outstanding commercial loan and finance lease liabilities is 8.5% (April 30, 2017: nil). |
Current tax receivables, curren
Current tax receivables, current tax liabilities and non-current liabilities | 18 Months Ended |
Oct. 31, 2018 | |
Current tax receivables, current tax liabilities and non-current liabilities [Abstract] | |
Current tax receivables, current tax liabilities and non-current liabilities | 23 Current tax receivables, current tax liabilities and non-current liabilities Current tax receivables October 31, 2018 April 30, 2017 $ ’000 $ ’000 Corporation tax 24,504 1,637 The current tax receivable at October 31, 2018 is $24.5m (April 30, 2017: $1.6m). The brought forward current tax receivable balance relates mainly to the US and has been partially refunded, with the balance offset against current period tax liabilities. Current tax liabilities October 31, 2018 April 30, 2017 $ ’000 $ ’000 Corporation tax 124,071 42,679 The current tax creditor at October 31, 2018 is $124.1m (April 30, 2017: $42.7m). The creditor has increased due to the enlargement of the Group due to the acquisition of the HPE Software business and current year tax charges exceeding cash tax payments made. Within current tax liabilities is $67.7m in respect of the Group’s income tax reserve, the majority of which relate to the risk of challenge from local tax authorities to the transfer pricing arrangements of the Group. Non-current tax liabilities October 31, 2018 April 30, 2017 $ ’000 $ ’000 Corporation tax 131,048 - The non-current tax creditor is $131.0m (April 30, 2017: $nil). The non-current creditor reflects the US transition tax payable more than 12 months after the balance sheet date. |
Deferred income - current
Deferred income - current | 18 Months Ended |
Oct. 31, 2018 | |
Deferred income - current [Abstract] | |
Deferred income - current | 24 Deferred income – current October 31, 2018 April 30, 2017 $ ’000 $ ’000 Deferred income 1,134,730 640,650 Revenue not recognized in the consolidated statement of comprehensive income under the Group’s accounting policy for revenue recognition is classified as deferred income in the consolidated statement of financial position to be recognized in future periods. Deferred income primarily relates to undelivered maintenance and subscription services on billed contracts. |
Deferred income - non-current
Deferred income - non-current | 18 Months Ended |
Oct. 31, 2018 | |
Deferred income - non-current [Abstract] | |
Deferred income - non-current | 25 Deferred income – non-current October 31, 2018 April 30, 2017 $ ’000 $ ’000 Deferred income 178,064 223,786 Revenue billed but not recognized in the consolidated statement of comprehensive income under the Group’s accounting policy for revenue recognition is classified as deferred income in the consolidated statement of financial position to be recognised in future periods in excess of one year. Deferred income primarily relates to undelivered maintenance and subscription services on multi-year billed contracts. |
Provisions
Provisions | 18 Months Ended |
Oct. 31, 2018 | |
Provisions [Abstract] | |
Provisions | 26 Provisions October 31, 2018 April 30, 2017 $ ’000 $ ’000 Onerous leases and dilapidations 35,105 16,243 Restructuring and integration 50,689 12,132 Legal 7,038 3,220 Other - 484 Total 92,832 32,079 Current 57,411 20,142 Non-current 35,421 11,937 Total 92,832 32,079 Onerous Leases and dilapidations Restructuring and integration Legal Other Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1, 2017 16,243 12,132 3,220 484 32,079 Continuing operations: Acquisitions – HPE Software business (note 39) 11,321 21,398 36,446 - 69,165 Additional provision in the period 17,723 133,421 1,392 - 133,558 Released (3,890 ) (3,678 ) (4,733 ) (416 ) (12,717 ) Utilization of provision (5,590 ) (110,062 ) (29,263 ) (97 ) (145,012 ) Exchange adjustments (702 ) (2,522 ) (24 ) 29 (3,219 ) Discontinued operation: Additional provision in the period 2,835 205 - - 3,040 Reclassification of current assets classified as held for sale (note 19) (2,835 ) (205 ) - - (3,040 ) At October 31, 2018 35,105 50,689 7,038 - 92,832 Current 11,219 39,154 7,038 - 57,411 Non-current 23,886 11,535 - - 35,421 Total 35,105 50,689 7,038 - 92,832 Onerous leases and dilapidations Restructuring and integration Legal Other Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1, 2016 18,176 3,523 1,920 1,280 24,899 Additional provision in the period 4,584 48,498 98 501 53,681 Acquisitions (note 37) - 1,201 2,844 - 4,045 Utilization of provision (5,527 ) (37,712 ) (120 ) (117 ) (43,476 ) Released (857 ) (2,886 ) (1,492 ) (1,180 ) (6,415 ) Exchange adjustments (133 ) (492 ) (30 ) - (655 ) At April 30, 2017 16,243 12,132 3,220 484 32,079 Current 4,406 12,132 3,220 384 20,142 Non-current 11,837 - - 100 11,937 Total 16,243 12,132 3,220 484 32,079 Onerous leases and dilapidations provisions The onerous lease and dilapidations provision relates to leased Group properties and this position is expected to be fully utilized within eight years. The provision was increased by $29.0m in the 18 months ended October 31, 2018, due to the acquisition of the HPE Software business ($11.3m) and relating to legal obligations to restore leased properties at the end of the lease period and a reassessment of sites across North America, United Kingdom, Israel and Australia ($17.7m). Provisions of $3.9m were released following the renegotiation/exit of leases of two North American properties. Restructuring and integration provisions Restructuring and integration provisions relate to activities undertaken in readiness for bringing together the Micro Focus and the HPE Software business into one organization across all functions of the existing business and provisions for severance resulting from headcount reductions. The majority of provisions are expected to be fully utilized within 12 months. Restructuring and integration costs are reported within exceptional costs (note 4). Legal provisions Legal provisions include the directors’ best estimate of the likely outflow of economic benefits associated with ongoing legal matters. Further information on legal matters can be found in note 37, contingent liabilities. Other provisions Releases of other provisions during the 18 months ended October 31, 2018 relate to future fees no longer considered likely to be incurred. |
Pension commitments
Pension commitments | 18 Months Ended |
Oct. 31, 2018 | |
Pension commitments [Abstract] | |
Pension commitments | 27 Pension commitments a) Defined contribution The Group has established a number of pension schemes around the world covering many of its employees. The principal funds are those in the US, UK and Germany. These were funded schemes of the defined contribution type. Outside of these territories, the schemes are also of the defined contribution type, except for France and Japan which are defined benefit schemes, but which has few members and therefore are not significant to the Group. Pension costs for defined contributions schemes are as follows: 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Continuing operations $ ’000 $ ’000 $ ’000 Defined contribution schemes (note 35) 43,241 10,875 10,363 1 The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). b) Defined benefit October 31, 2018 April 30, 2017 $ ’000 $ ’000 Within non-current assets: Long-term pension assets 16,678 22,031 Within non-current liabilities: Retirement benefit obligations (110,351 ) (30,773 ) The acquisition and subsequent integration of the software segment of Hewlett Packard Enterprise Company (HPE Software business) on September 1, 2017 added 27 defined benefit plans primarily in France, Germany and Switzerland. As of October 31, 2018, there are 30 (April 30, 2017: 4 in Germany, one of which provides benefits solely for SUSE employees). Some of the plans are final salary pension plans, which provide benefits to members in the form of a guaranteed level of pension payable for life in the case of retirement, disability and death. The level of benefits provided depends not only on the final salary but also on member’s length of service, social security ceiling and other factors. Final pension entitlements are calculated by local administrators in the applicable country. They also complete calculations for cases of death in service and disability. Other plans include termination or retirement indemnity plans or other types of statutory plans that provide a one-time benefit at termination. Where required by local or statutory requirements, some of the schemes are governed by an independent Board of Trustees that is responsible for the investment strategies with regard to the assets of the funds, however, other schemes are administered locally with the assistance of local pension experts. Not all of our plans are closed for new membership. The Group sponsors 13 plans that are open to new members, all of which are termination or retirement indemnity plans or statutory plans providing a one-time benefit at termination, retirement or death or disability. As a result of the acquisition of the HPE Software business, the Group participates in multi-employer defined benefit plans in Switzerland and Japan. These plans are accounted for as defined benefit plans. Long-term pension assets Long-term pension assets relate to the contractual arrangement under insurance policies held by the Group with guaranteed interest rates that do not meet the definition of a qualifying insurance policy as they have not been pledged to the plan or beneficiaries and are subject to the creditors of the Group. Such arrangements are recorded in the consolidated statement of financial position as long-term pension assets. These contractual arrangements are treated as available-for-sale financial assets since there is not an exact matching of the amount and timing of some or all of the benefits payable under the defined benefit plan. Movement in the fair value of long-term pension assets is included in other comprehensive income. All non-plan assets are held in Germany. The movement on the long-term pension asset is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 As at May 1 22,031 22,272 Reclassification to assets held for sale (1,543 ) - Interest on non-plan assets (note 6) 633 404 Benefits paid (185 ) (110 ) Contributions 489 442 Included within other comprehensive income: - (6,065 ) - - 278 (2,134 ) - - 2,264 (5,787 ) 130 Foreign currency exchange (loss)/gain 1,040 (1,107 ) As at October 31 / April 30 16,678 22,031 Included within other comprehensive income: Continuing operations (5,258 ) 318 Discontinued operation (529 ) (188 ) (5,787 ) 130 The non-plan assets are Level 3 assets under the fair value hierarchy. These assets have been valued by applying a discount rate to the future cash flows and taking into account the fixed interest rate, mortality rates and term of the insurance contract. There have been no transfers between levels for the period ended October 31, 2018 (April 30, 2017: none). Retirement benefit obligations The following amounts have been included in the consolidated statement of comprehensive income for defined benefit pension arrangements: 18 months ended October 31, 2018 12 months 1 ended April 30, 2017 12 months 1 ended April 30, 2016 $ ’000 $ ’000 $ ’000 Current service charge 12,627 504 613 Past service credit (5,489 ) - - Charge to operating profit (note 35) 7,138 504 613 Current service charge – discontinued operations 268 121 147 Interest on pension scheme liabilities 5,253 660 546 Interest on pension scheme assets (2,430 ) (95 ) (79 ) Charge to finance costs (note 6) 2,823 565 467 Total charge to consolidated statement of comprehensive income 10,229 1,190 1,227 1 note 19 Past service credits are the result of headcount reductions under the Group’s restructuring and integration activities relating to the acquisition of the HPE Software business ( note 39 The contributions for the year ended October 31, 2019 are expected to be broadly in line with the 12 months to October 31, 2018. We fund our schemes so that we make at least the minimum contributions required by local government, funding and taxing authorities. The following amounts have been recognized as movements in the statement of comprehensive income: 18 months ended October 31, 2018 12 months ended April 30, 2017 $ ’000 $ ’000 Actuarial return on assets excluding amounts included in interest income 621 9 Re-measurements – actuarial (gains) and losses: - Demographic 332 - - Financial (11,104 ) 2,821 - Experience 1,858 568 (8,914 ) 3,389 Reclassification from defined contribution scheme to defined benefit scheme (2,121 ) (2,996 ) Movement in the period / year (10,414 ) 402 Continuing operations (8,949 ) (217 ) Discontinued operation (1,465 ) 619 (10,414 ) 402 The weighted average key assumptions used for the valuation of the schemes were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Rate of increase in final pensionable salary 2.61 % 2.00 % Rate of increase in pension payments 1.99 % 2.00 % Discount rate 1.92 % 1.95 % Inflation 1.89 % 2.00 % The weighted average assumptions used in the valuation of the September 1, 2017 opening balances for the schemes acquired from the HPE Software business were: rate of increase in final pensionable salary of 2.32%, rate of increase in pension payments of 1.75%, discount rate of 1.95% and inflation of 1.61%, The net present value of the defined benefit obligations of the schemes are sensitive to both the actuarial assumptions used and to market conditions. If the discount rate assumption was 0.5% lower, the obligation would be expected to increase by $26.9m as at October 31, 2018 (April 30, 2017: $4.5m) and if it was 0.5% higher, they would be expected to decrease by $23.1m (April 30, 2017: $3.9m). If the inflation assumption was 0.25% lower, the obligations would be expected to decrease by $6.0m as at October 31, 2018 (April 30, 2017: $1.2m) and if it was 0.25% higher, they would be expected to increase by $6.4m (April 30, 2017: $1.3m). The mortality assumptions for the schemes are set based on actuarial advice in accordance with published statistics and experience in each territory. These assumptions translate into an average life expectancy in years for a pensioner retiring at age 65: October 31, 2018 April 30, 2017 Retiring at age 65 at the end of the reporting period: Male 20 19 Female 23 23 Retiring 15 years after the end of the reporting period: Male 22 19 Female 25 24 The net present value of the defined benefit obligations of the schemes are sensitive to the life expectancy assumption. If there was an increase of one year to this assumption across the schemes the obligation would be expected to increase by $7.9m (3.6%) as at October 31, 2018 (April 30, 2017: $1.1m, 2.9%). The net liability included in the consolidated statement of financial position arising from obligations in respect of defined benefit schemes is as follows: October 31, 2018 April 30, 2017 Funded Unfunded Total Funded $ ’000 $ ’000 $ ’000 $ ’000 Present value of funded obligations 213,305 7,903 221,208 36,480 Fair value of plan assets (110,857 ) - (110,857 ) (5,707 ) 102,448 7,903 110,351 30,773 The defined benefit obligation has moved as follows: October 31, 2018 April 30, 2017 1 Defined Benefit Obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1 36,480 (5,707 ) 30,773 37,524 (5,855 ) 31,669 HPE Software business acquisition (note 39) 181,455 (110,010 ) 71,445 - - - Reclassification to assets held for sale (9,125 ) 3,595 (5,530 ) - - - Current service cost 12,895 - 12,895 625 - 625 Past service credit (5,489 ) - (5,489 ) Benefits paid (9,603 ) 9,406 (197 ) (197 ) 87 (110 ) Contributions by plan participants 2,547 (2,313 ) 234 - (114 ) (114 ) Contribution by employer - (4,012 ) (4,012 ) - - - Interest cost/(income) (note 6) 5,253 (2,430 ) 2,823 660 (95 ) 565 Included within other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic (332 ) - (332 ) - - - - Financial 11,104 - 11,104 (2,821 ) - (2,821 ) - Experience (1,858 ) - (1,858 ) (568 ) - (568 ) Actuarial return on assets excluding amounts included in interest income - (621 ) (621 ) - (9 ) (9 ) Reclassification from defined contribution scheme to defined benefit scheme 5,472 (3,351 ) 2,121 2,996 - 2,996 14,386 (3,972 ) 10,414 (393 ) (9 ) (402 ) Foreign currency exchange changes (7,591 ) 4,586 (3,005 ) (1,739 ) 279 (1,460 ) At October 31 / April 30 221,208 (110,857 ) 110,351 36,480 (5,707 ) 30,773 1 The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). Past service credits are the result of headcount reductions under the Group’s restructuring and integration activities relating to the acquisition of the HPE Software business (note 39). None of the plan assets are represented by financial instruments of the Group. None of the plan assets are occupied or used by the Group. The major categories of the plan assets are as follows: October 31, 2018 April 30, 2017 Quoted Unquoted Total Unquoted $ ’000 $ ’000 $ ’000 $ ’000 Equity instruments 49,890 1,624 51,514 - Debt instruments 37,419 5,069 42,488 - Real estate 1,987 71 2,058 - Cash and cash equivalents - 2,325 2,325 - Re-insurance contracts with guaranteed interest rates* - 5,486 5,486 5,707 Other - 6,986 6,986 - Total 89,296 21,561 110,857 5,707 * The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. Through its defined benefit schemes the Group is exposed to a number of risks, the most significant of which are detailed below: – Changes in bond yields – A decrease in corporate bond yields will increase IAS 19 plan liabilities, although this will be partially offset by an increase in the value of the pledged and unpledged re-insurance holdings. – Inflation – Some of the Group pension obligations are linked to inflation, and higher inflation will lead to higher liabilities. There is a cap on the level of inflationary increase on one of the plans which protects the plan against extreme inflation. The majority of the plan assets are either unaffected by or loosely correlated with inflation, meaning an increase in inflation will also increase the deficit. – Life expectancy – The majority of the plan obligations are to provide benefits over the life of the member, so increases in life expectancy will result in an increase in the plan liabilities as benefits would be paid over a longer period. – In the case of the defined benefit plans, the Group ensures that the investment positions are managed within an asset liability matching (“ALM”) that has been developed by the Group to achieve long-term investments that are in line with the obligations under the pension schemes. In addition to the plan assets outlined above, the Group had re-insurance assets valued at $16.6m as at October 31, 2018 (April 30, 2017: $22.1m). These assets are designated to fund the pension obligation and do not qualify as plan assets as they have not been pledged to the plan and are subject to the creditors of the Company. Within this framework the Group’s objective is to match assets to the pension obligations by investing in re-insurances that match the benefit payments as they fall due and in the appropriate currency. Sensitivities The table below provides information on the sensitivity of the defined benefit obligation to changes to the most significant actuarial assumptions. The table shows the impact of changes to each assumption in isolation, although, in practice, changes to assumptions may occur at the same time and can either offset or compound the overall impact on the defined benefit obligation. These sensitivities have been calculated using the same methodology as used for the main calculations. The weighted average duration of the defined benefit obligation is 22 years. Change in assumption Change in defined benefit obligation Discount rate for scheme liabilities 0.50 % (10.5 %) Price inflation 0.25 % 2.9 % Salary growth rate 0.50 % 1.9 % An increase of one year in the assumed life expectancy for both males and females would increase the defined benefit obligation by 3.6% as at October 31, 2018 (April 30, 2017: 2.9%). The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to previous periods. |
Other non-current liabilities
Other non-current liabilities | 18 Months Ended |
Oct. 31, 2018 | |
Other non-current liabilities [Abstract] | |
Other non-current liabilities | 28 Other non-current liabilities October 31, 2018 April 30, 2017 $ ’000 $ ’000 Accruals 58,011 4,191 58,011 4,191 Accruals includes employee benefit liability ($31.0m) that relates to legal severance payment obligations to employees leaving the Group in certain countries, a deferred gain on real estate ($14.0m) relating to free-rent incentives or tenant improvement allowances given by landlords and an IT contractual liability ($11.3m). |
Financial instruments
Financial instruments | 18 Months Ended |
Oct. 31, 2018 | |
Financial instruments [Abstract] | |
Financial instruments | 29 Financial instruments The table below sets out the values of financial assets and liabilities. Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Financial April 30, 2017 Non- financial April 30, 2017 Total April 30, 2017 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Financial assets Non-current Derivative financial instruments – Interest rate swaps (note 29) - 86,381 86,381 - - - Current Cash and cash equivalents (note 18) 620,896 - 620,896 150,983 - 150,983 Trade and other receivables (note 17) 1,212,067 59,966 1,272,033 263,626 25,883 289,509 1,832,963 146,347 1,979,310 414,609 25,883 440,492 Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Financial April 30, 2017 Non-financial April 30, 2017 Total April 30, 2017 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Financial liabilities – financial liabilities at amortized cost Non-current Borrowings (note 21 4,946,566 - 4,946,566 1,511,400 - 1,511,400 Finance leases (note 22) 14,923 - 14,923 - - - Provisions (note 26) 35,421 - 35,421 11,837 100 11,937 Current Borrowings (note 21) 50,347 - 50,347 83,788 - 83,788 Finance leases (note 22) 13,560 - 13,560 - - - Trade and other payables (note 20) 676,917 - 676,917 16,891 153,151 170,042 Provisions (note 26) 57,411 - 57,411 4,406 15,736 20,142 5,795,145 - 5,795,145 1,628,322 168,987 1,797,309 Fair value measurement For trade and other receivables, cash and cash equivalents, trade and other payables, obligations under finance leases and provisions, fair values approximate to book values due to the short maturity periods of these financial instruments. For trade and other receivables, allowances are made within book value for credit risk. Derivative financial instruments measured at fair value, are classified as level 2 in the fair value measurement hierarchy, as they have been determined using significant inputs based on observable market data. The fair values of interest rate derivatives are derived from forward interest rates based on yield curves observable at the balance sheet date together with the contractual interest rates. There were no transfers of assets or liabilities between levels of the fair value hierarchy during the period. Credit risk The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at October 31, 2018 was: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Trade receivables (note 17) 1,212,067 263,626 Cash and cash equivalents (note 18) 620,896 150,983 Total 1,832,963 414,609 Market risk The Group’s treasury function aims to reduce exposures to interest rate, foreign exchange and other financial risks, to ensure liquidity is available as and when required, and to invest cash assets safely and profitably. The Group does not engage in speculative trading in financial instruments. The treasury function’s policies and procedures are reviewed and monitored by the audit committee and are subject to internal audit review. Derivative Financial Instruments Derivatives are only used for economic hedging purposes and not as speculative investments. Four interest rate swaps are in place with a total notional value of $2.25 billion to hedge against the impact of expected rises in interest rates until 30 September 2022. The notional value covers 50.4% of the dollar loan principal outstanding for the Group. The terms of the swap involve the Group in paying a fixed interest rate of 1.94% and the Group receiving a variable rate in line with LIBOR. The swap contracts require settlement of net interest receivable or payable on a monthly basis. For the period to October 31, 2018, net expense for the swaps amounted to $3.4m. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic effectiveness assessments (adjusted for credit risk) to ensure that an economic relationship exists between the hedged item and the hedging instrument. The testing determined that the hedge was highly effective throughout the financial reporting period for which the hedge was designated. The impact of changes in the fair value of interest rate swaps in the 18 months ended October 31, 2018 is shown in the Consolidated statement of comprehensive income. Note 33 October 31, 2018 April 30, 2017 $ ’000 $ ’000 Carrying amount 86,381 - Notional amount (4 x $562.5m) 2,250,000 - Maturity date 30 September 2022 - Change in fair value of outstanding hedging instruments 86,381 - Change in value of hedged item adjusted for credit risk 84,666 - Foreign exchange risk The Group’s currency exposures comprise those that give rise to net currency gains and losses to be recognized in the consolidated statement of comprehensive income as well as gains and losses on consolidation, which go to reserves. Such exposures reflect the monetary assets and liabilities of the Group that are not denominated in the operating or functional currency of the operating unit involved and the Group’s investment in net assets in currencies other than US dollar. Note 33 shows the impact on the consolidated statement of comprehensive income of foreign exchange gains in the 18 months ended October 31, 2018 (12 months ended April 30, 2017: gain ; 12 months ended April 30, 2016: gain). Sensitivity analysis The Group’s principal exposures in relation to market risks are the changes in the exchange rates between the US dollar and transactions made in other currencies as well as changes in US Dollar LIBOR interest rates. Foreign exchange exposures for all re-measuring balances are tracked and reported to management. The key drivers are cash, borrowings and inter-company positions with trade receivables and trade payables having less relative aggregate exposure. As at October 31, 2018, the key aggregate exposures involved the Euro, British Pound, Israeli Shekel and Canadian Dollar. The table below illustrates the sensitivity analysis of the group exposures to movements in currency and interest rates. Group exposure +/-5 % +/-10 % +/-1% interest Key aggregate currency exposures $ ’000 $ ’000 $ ’000 $ ’000 Euro 377,324 18,866 37,732 GBP 25,436 1,271 2,543 ILS 52,147 2,607 5,214 CAN$ 60,468 3,023 6,046 Borrowings Interest rate LIBOR +1% n/a n/a n/a 49,969 Capital risk management The Group’s objective when managing its capital structures is to minimize the cost of capital while maintaining adequate capital to protect against volatility in earnings and net asset values. The strategy is designed to maximize shareholder return over the long-term. The only financial covenant attaching to these new facilities relates to the Revolving Facility, which is subject to an aggregate net leverage covenant only in circumstances where more than 35% of the Revolving Facility is outstanding at a fiscal quarter end. The facility was less than 35% drawn at October 31, 2018 and therefore no covenant test is applicable. The capital structure of the Group at the consolidated statement of financial position date is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Bank and other borrowings (note 21) 4,845,880 1,561,536 Finance lease obligations (note 22) 28,483 - Less cash and cash equivalents (note 18) (620,896 ) (150,983 ) Total net debt 4,253,467 1,410,553 Total equity 7,791,980 1,613,490 Debt/equity % 54.59 % 87.42 % |
Deferred tax
Deferred tax | 18 Months Ended |
Oct. 31, 2018 | |
Deferred tax [Abstract] | |
Deferred tax | 30 Deferred tax October 31, 2018 April 30, 2017 Note $ ’000 $ ’000 Net Deferred tax liability At May 1 (118,478 ) (65,281 ) (Debited)/credited to consolidated statement of comprehensive income: (17,171 ) 26,871 - Continuing operations 7 (27,634 ) 26,871 - Discontinued operations 10,463 - Credited directly to equity in relation to share options (23,724 ) 22,996 Debited to other comprehensive income in relation to pensions: 4,281 (325 ) - Continuing operations 3,754 (62 ) - Discontinued operations 527 (263 ) Acquisition of subsidiaries 39 (1,957,343 ) (97,615 ) Acquisition of subsidiaries – Serena Software - (96,203 ) Acquisition of subsidiaries – GWAVA - (1,412 ) Acquisition of subsidiaries – HPE Software business (1,953,453 ) - Acquisition of subsidiaries – COBOL-IT (3,890 ) - Foreign exchange adjustment 11,667 (6,415 ) Reclassification to current assets held for sale 19 (1,586 ) - Effect of change in tax rates – charged to consolidated statement of comprehensive income 931,865 1,291 At October 31 / April 30 (1,170,489 ) (118,478 ) Deferred tax assets and liabilities presented below and in the consolidated statement of financial position have been revised to present such assets and liabilities net where there is a legally enforceable right to offset and the intention to settle on a net basis. Tax losses Share based payments Deferred revenue Prepaid royalty Tax credits Intangible fixed assets Other temporary differences Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Deferred tax assets At May 1, 2016 50,949 22,767 37,962 - 53,660 6,496 26,923 198,757 Acquisition of subsidiaries (note 39) 10,619 - 2,471 - 152 - 2,105 15,347 (Charged)/credited to consolidated statement of comprehensive income (4,894 ) 4,405 4,057 - (20,024 ) (609 ) (4,964 ) (22,029 ) Credited directly to equity - 22,996 - - - - 22,996 Debited to other comprehensive income - - - - - - (325 ) (325 ) Foreign exchange adjustment - (6,415 ) - - - - - (6,415 ) Effect of change in tax rates – credited to consolidated statement of comprehensive income - (78 ) - - - - - (78 ) Subtotal 56,674 43,675 44,490 - 33,788 5,887 23,739 208,253 Jurisdictional offsetting (208,253 ) At April 30, 2017 - At May 1, 2017 56,674 43,675 44,490 - 33,788 5,887 23,739 208,253 Acquisition of subsidiaries - HPE Software business (note 39) 4,524 - (36,468 ) 332,036 39,030 - 43,601 382,723 (Charged)/credited to consolidated statement of comprehensive income – continuing operations (13,510 ) 110 45,158 (201,355 ) (46,114 ) (825 ) 14,126 (202,410 ) Credited directly to equity - (23,724 ) - - - - - (23,724 ) Debited to other comprehensive income - - - - - - 4,281 4,281 Foreign exchange adjustment - (320 ) - - - - - (320 ) Reclassification to current assets held for sale - - - - - - (1,586 ) (1,586 ) Effect of change in tax rates – credited to consolidated statement of comprehensive income (21,129 ) (2,319 ) 66,673 (88,770 ) 2,957 (2,025 ) (13,336 ) (57,949 ) Subtotal 26,559 17,422 119,853 41,911 29,661 3,037 70,825 309,268 Jurisdictional offsetting (309,268 ) At October 31, 2018 - A deferred tax charge to equity of $23.7m (April 30, 2017: $23.0m credit) arises during the period in relation to share-based payments. The change as compared to the prior period is primarily due to the decrease in the Group’s share price during the 18 months ended October 31, 2018. Deferred tax on prepaid royalties relates to intragroup royalties, which were paid to US Group companies which have been taxed upon receipt but for which the Group has yet to recognize the income. The deferred tax asset relating to other temporary differences of $70.8m as at October 31, 2018 (April 30, 2017: $23.7m) has increased during the current period primarily due to balances acquired from the HPE Software business and includes temporary differences arising on fixed assets, short-term timing differences and defined benefit pension schemes. Deferred tax assets are recognized in respect of tax losses carried forward to the extent that the realization of the related tax benefit through the utilization of future taxable profits is probable. The Group did not recognize deferred tax assets in relation to the following gross temporary differences, the expiration of which is determined by the tax law of each jurisdiction: Expiration: 2019 2020 2021 2022 2023 Thereafter No expiry Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At October 31, 2018 Type of temporary difference: Losses 35,233 66,078 99,168 37,529 33,574 2,117,700 95,578 2,484,860 Credits 2,174 4,420 3,959 2,360 1,267 5,210 196,350 215,740 Other 1,859 1 - - - - 47,718 49,578 Total 39,266 70,499 103,127 39,889 34,841 2,122,910 339,646 2,750,178 Expiration: 2018 2019 2020 2021 2022 Thereafter No expiry Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At April 30, 2017 Type of temporary difference: Losses 1,107 635 972 - - - 19,773 22,487 Credits 2,131 2,147 1,909 2,138 1,334 5,583 8,338 23,580 Other - - - - - - 23,859 23,859 Total 3,238 2,782 2,881 2,138 1,334 5,583 51,970 69,926 Note Intangible fixed assets Other temporary differences Total $ ’000 $ ’000 $ ’000 Deferred tax liabilities At May 1, 2016 (255,158 ) (8,880 ) (264,038 ) Acquisition of subsidiaries 39 (110,334 ) (2,628 ) (112,962 ) Charged/(credited) to consolidated statement of comprehensive income 52,438 (3,538 ) 48,900 Effect of change in tax rates – charged to consolidated statement of comprehensive income 1,369 - 1,369 Subtotal (311,685 ) (15,046 ) (326,731 ) Jurisdictional offsetting 208,253 At April 30, 2017 (118,478 ) At May 1, 2017 (311,685 ) (15,046 ) (326,731 ) Acquisition of subsidiaries – HPE Software business 39 (2,324,060 ) (12,116 ) (2,336,176 ) Acquisition of subsidiaries – COBOL-IT 39 (3,890 ) - (3,890 ) Charged/(credited) to consolidated statement of comprehensive income – continuing operations 186,787 (12,011 ) 174,776 Charged/(credited) to consolidated statement of comprehensive income – discontinued operations 10,463 - 10,463 Foreign exchange adjustment 11,987 - 11,987 Effect of change in tax rates – charged to consolidated statement of comprehensive income 981,955 7,858 989,814 (1,448,443 ) (31,315 ) (1,479,757 ) Jurisdictional offsetting 309,268 At October 31, 2018 (1,170,489 ) During the period, the Group recognized a deferred tax liability of $2.3 billion upon the acquisition of the HPE Software business. Along with historical balances, this was revalued due to US tax reforms to reflect the lower US Federal tax rate. No deferred tax liability was recognized in respect of unremitted earnings of overseas subsidiaries as the Group is in a position to control the timing of the reversal of the temporary differences and no material tax liability is expected to arise upon repatriation of such earnings. |
Share capital
Share capital | 18 Months Ended |
Oct. 31, 2018 | |
Share capital [Abstract] | |
Share capital | 31 Share capital Ordinary shares at 10 pence each as at October 31, 2018 (April 30, 2017: 10 pence each; April 30, 2016: 10 pence each) October 31, 2018 April 30, 2017 April 30, 2016 Shares $ ’000 Shares $ ’000 Shares $ ’000 Issued and fully paid At May 1 229,674,479 39,700 228,706,210 39,573 228,587,397 39,555 Shares issued to satisfy option awards 1,894,673 251 968,269 127 118,313 18 Share reorganization (16,935,536 ) (2,926 ) - - 500 - Shares issued relating to acquisition of HPE Software business (note 39) 222,166,897 28,773 - - - - At October 31 / April 30 436,800,513 65,798 229,674,479 39,700 228,706,210 39,573 “B” shares at 168 pence each October 31, 2018 April 30, 2017 April 30, 2016 Shares $ ’000 Shares $ ’000 Shares $ ’000 Issued and fully paid At May 1 - - - - - - Issue of B shares 229,799,802 500,000 - - - - Redemption of B shares (229,799,802 ) (500,000 ) - - - - At October 31 / April 30 - - - - - - Share issuances during the 18 months to October 31, 2018 In the 18 months to October 31, 2018, 1,894,673 ordinary shares of 10 pence each (12 months to April 30, 2017: 968,269; 12 months to April 30, 2016: 118,313) were issued by the Company to settle exercised share options. The gross consideration received in the 18 months to October 31, 2018 was $5.8m (12 months to April 30, 2017: $2.0m; 12 months to April 30, 2016: $1.0m). 222,166,897 ordinary shares of 10 pence each were issued by the Company as consideration for the acquisition of the HPE Software business (note 39 In relation to the return of value to shareholders (note 33 At October 31, 2018 9,858,205 treasury shares were held (April 30, 2017: nil; 2016: 29,924) such that the number of ordinary shares with voting rights was 426,942,308 (April 30, 2017: 229,674,479; April 30, 2016: 228,676,286) and the number of listed shares at October 31, 2018 was 436,800,513 (April 30, 2017: 229,674,479; April 30, 2016: 228,676,286). Potential issues of shares Certain employees hold options to subscribe for shares in the Company at prices ranging from nil pence to 1,875.58 pence under the following share option schemes approved by shareholders in 2005 and 2006: The Long-Term Incentive Plan 2005, the Additional Share Grants, the Sharesave Plan 2006 and the Employee Stock Purchase Plan 2006. The number of shares subject to options at October 31, 2018 was 18,156,060 (April 30, 2017: 8,607,889; April 30, 2016: 9,264,743). Share buy-back On August 29, 2018, the company announced the start of a share buy-back program for an initial tranche of up to $200m which was extended on November 5, 2018 to the total value of $400m (including the initial tranche). Up to and including February 13, 2019 the company had spent $400m and purchased 22,455,121 shares at an average price of £13.82 per share. The buy-back program has been extended into a third tranche of up to $110m to be executed in the period from the February 14, 2019, up until the day before the AGM, which takes place on March 29, 2019 when the current buy-back authority approved by shareholders at the 2017 AGM to make market purchases of up to 65,211,171 ordinary shares will expire. In addition to purchasing ordinary shares on the London Stock Exchange Citi acquired American Depository Receipts representing ordinary shares ("ADRs") listed on the New York Stock Exchange which it cancelled for the underlying shares and then sold such shares to the Company. As at October 31, 2018, 9,858,205 ordinary shares have been bought back at a total cost of $171.2m, including expenses of $0.5m. 8,567,659 ordinary shares were bought on the London Stock Exchange and 1,290,546 ADRs were purchased on the New York Stock Exchange. |
Share premium account
Share premium account | 18 Months Ended |
Oct. 31, 2018 | |
Share premium account [Abstract] | |
Share premium account | 32 Share premium account October 31, 2018 April 31, 2017 April 31, 2016 $ ’000 $ ’000 $ ’000 At May 1 192,145 190,293 16,087 Share placement issues - 176,235 Share placement costs - (2,979 ) Issue and redemption of B shares (note 31) (156,683 ) - - Movement in relation to share options exercised (note 35) 5,499 1,852 950 At October 31 / April 30 40,961 192,145 190,293 |
Other reserves
Other reserves | 18 Months Ended |
Oct. 31, 2018 | |
Other reserves [Abstract] | |
Other reserves | 33 Other reserves Capital redemption reserve Merger reserve Hedging reserve Total $ ’000 $ ’000 $ ’000 $ ’000 As at May 1, 2015 163,363 1,168,104 - 1,331,467 Reallocation of merger reserve 1 - (180,000 ) - (180,000 ) As at May 1, 2016 163,363 988,104 - 1,151,467 Reallocation of merger reserve 1 - (650,000 ) - (650,000 ) As at April 30, 2017 163,363 338,104 - 501,467 As at May 1, 2017 163,363 338,104 - 501,467 Return of Value- share consolidation 2 2,926 - - 2,926 Return of Value- issue and redemption of B shares 2 500,000 (343,317 ) - 156,683 Hedge accounting (note 29) 3 - - 86,381 86,381 Deferred tax movement on hedging 3 - - (16,413 ) (16,413 ) Acquisition of the HPE Software business 4 - 6,485,397 - 6,485,397 Reallocation of merger reserve 1 - (2,755,800 ) - (2,755,800 ) As at October 31, 2018 666,289 3,724,384 69,968 4,460,641 1 The Company has transferred amounts from the merger reserve to retained earnings pursuant to the UK company law. The parent company previously transferred the investment in The Attachmate Group (“TAG”) to a wholly owned subsidiary for an intercompany receivable in the amount of $1,373m. During the period, the parent company also transferred the investment in the HPE Software business to a wholly owned subsidiary in exchange for an intercompany receivable. An amount of $2,755.8m has been transferred from the merger reserve to retained earnings (April 30, 2017: $650.0m; April 30, 2016: $180.0m). It therefore meets the definition of qualifying consideration and is available for dividend distribution to the parent company’s shareholders. 2 3 4 note 39 |
Non-controlling interests
Non-controlling interests | 18 Months Ended |
Oct. 31, 2018 | |
Non-controlling interests [Abstract] | |
Non-controlling interests | 34 Non-controlling interests The Group has minority shareholders in one subsidiary, Novell Japan Ltd. On November 20, 2017, a payment of 170,350 JPY ($1,547) was made to a minority shareholder to acquire 170,350 ordinary one JPY shares held. On December 22, 2017, a payment of 170,350 JPY ($1,505) was made to another minority shareholder to acquire a 170,350 ordinary one JPY shares held. These transactions increased the Group’s shareholding from 74.7% to 81.05%. October 31, 2018 April 30, 2017 April 30, 2016 $ ’000 $ ’000 $ ’000 At May 1 954 1,057 979 Share of (loss)/profit after tax 85 (103 ) 78 At April 30 1,039 954 1,057 Non-controlling interests relate to the companies detailed below: Company name Country of incorporation and principal place of business October 31, 2018 Proportion held April 30, 2017 Proportion held April 30, 2016 Proportion held Novell Japan Ltd Japan 81.05 % 74.7 % 71.5 % |
Employees and directors
Employees and directors | 18 Months Ended |
Oct. 31, 2018 | |
Employees and directors [Abstract] | |
Employees and directors | 35 Employees and directors 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Staff costs Wages and salaries 1,819,251 382,482 342,957 Redundancy and termination costs (non-exceptional) 2,102 2,115 3,722 Social security costs 159,009 53,215 45,584 Other pension costs 50,379 11,379 10,976 Cost of employee share schemes 64,284 31,463 26,254 Total 2,095,025 480,654 429,493 1 The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Pension costs comprise: Defined benefit schemes (note 27) 7,138 504 613 Defined contribution schemes (note 27) 43,241 10,875 10,363 Total 50,379 11,379 10,976 1 The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 Number Number $ ’000 Average monthly number of people (including executive directors) employed by the Group: Continuing Operations Sales and distribution 5,860 1,818 1,692 Research and development 4,323 1,400 1,301 General and administration 1,378 642 582 11,561 3,860 3,575 Discontinued Operations Sales and distribution 515 323 266 Research and development 629 476 375 General and administration 8 4 2 1,152 803 643 Total Sales and distribution 6,375 2,141 1,958 Research and development 4,952 1,876 1,676 General and administration 1,386 646 584 Total 12,713 4,663 4,218 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Key management compensation Short-term employee benefits 25,893 8,051 9,297 Share based payments 44,497 9,391 10,146 Total 70,390 17,442 19,443 The key management figures above include the executive management team and directors. There are no post-employment benefits. Directors’ remuneration is shown below. 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Directors Aggregate emoluments 14,583 5,227 3,612 Aggregate gains made on the exercise of share options 77,719 8,166 3,764 Company contributions to money purchase pension scheme 749 463 228 Total 93,051 13,856 7,604 Share based payments The amount charged to the consolidated statement of comprehensive income in respect of share-based payments was $72.2m for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: $34.5m; April 30, 2016: $28.8m). The consolidated statement of comprehensive income has been presented split between continuing and discontinued operations. The table below provides information of the share-based payments on a continuing operations basis. The tables below for each type of share option are presented on a total Group basis only. 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Share based compensation – IFRS 2 charge 70,921 20,798 17,355 Employer taxes (6,637 ) 10,665 8,899 64,284 31,463 26,254 1 The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). As at October 31, 2018, accumulated employer taxes of $20.6m (April 30, 2017: $17.0m; April 30, 2016: $15.6m) is included in trade and other payables and $0.5m (April 30, 2017: $1.2m, April 30, 2016: $1.1m) is included in other non-current liabilities. The Group has various equity-settled share-based compensation plans details of which are provided below. a) Incentive Plan 2005 On April 27, 2005, the remuneration committee approved the rules of the Incentive Plan 2005 (“LTIP”) which permits the granting of share options to executive directors and senior management. The total number of options they receive is determined by the performance criteria set by the remuneration committee over a three-year performance period. Prior to 18 April 2011 performance conditions required that cumulative EPS growth over a three year vesting period is at least equal to Retail Prices Index (“RPI”) plus 11% (at which point 25% of awards will vest), 60% of shares will vest for cumulative EPS growth of RPI plus 13% and for full vesting the cumulative EPS growth will be required to be RPI plus 15% per annum. RPI is the general index of the UK retail prices (for all items) published by the Office of National Statistics or any similar index replacing it. Straight-line vesting will apply between these points. Awards granted on or after April 18, 2011 are subject to either Absolute Shareholder Returns (“ASR”) over a three-year period, cumulative EPS growth or a combination of both. ASR is defined as the average closing share price over the period of five days ending on the day prior to the vesting date less the reference price plus the total of all dividends and cash distributions and any other measures as determined by the Remuneration Committee between the award date and the vesting date. Where the cumulative EPS growth over a three-year period is at least equal to RPI plus 3% per annum 25% of awards will vest, with full vesting is achieved when the cumulative EPS growth is RPI plus 9% per annum. Straight line vesting will apply between these points. Where the award is subject to ASR, the resulting level of vesting will be reduced by 25% if the ASR is below 150 pence or increased by 50% if ASR is 300 pence or more. 18 months ended October 31, 2018 12 months ended April 30, 2017 Number of Options ‘000 Weighted average exercise price pence Number of Options ‘000 Weighted average exercise price pence Outstanding at May 1 4,662 29 5,186 41 Exercised (1,283 ) 12 (1,008 ) 85 Forfeited (582 ) 3 (120 ) 14 Granted 2,823 - 604 6 Outstanding at October 31 / April 30 5,620 14 4,662 29 Exercisable at October 31 / April 30 2,270 51 1,261 92 The weighted average share price in the period for options on the date of exercise was 1,781 pence for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: 2,027 pence). The amount charged to the consolidated statement of comprehensive income in respect of the scheme was $30.2m for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: $16.2m; April 30, 2016: $15.1m). In addition to this $4.2m (12 months to April 30, 2017: $3.6m charge; April 30, 2016: $2.4m charge) was credited to the consolidated statement of comprehensive income in respect of national insurance on these share options. October 31, 2018 April 30, 2017 Weighted average exercise price Number of options Weighted average remaining contractual Weighted average exercise price Number of options Weighted average remaining contractual Range of exercise prices pence ‘000 life (years) pence ‘000 life (years) £0.10 or less 1 5,127 6.7 4 3,856 7.4 £0.11 – £1.00 13 205 4.9 13 506 6.6 £1.01 – £2.00 - - - - - - £2.01 – £3.00 - - - 281 5 0.5 £3.01 - £4.00 358 146 0.7 358 146 2.2 More than £4.00 402 142 1.7 402 149 3.2 14 5,620 4.0 29 4,662 7.0 The weighted average fair value of options granted during the 18 months ended October 31, 2018 determined using the Black-Scholes valuation model was £15.25 (12 months ended April 30, 2017: £18.56). The significant inputs into the model for the 18 months ended October 31, 2018 were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Weighted average share price at the grant date £ £ Expected volatility between 28.59% and 48.54% between 26.96% and 27.98% Expected dividend yield between 2.82% and 7.02% between 2.70% and 3.10% Expected option life three years three years Annual risk-free interest rate between 1.0% and 1.6% between 0.71% and 1.09% The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years. b) Additional Share Grants 18 months ended October 31, 2018 12 months ended April 30, 2017 Number Of Options Weighted average exercise price Number of Options Weighted average exercise price ‘000 pence ‘000 pence Outstanding at May 1 3,262 - 3,262 - Exercised (200 ) - - - Lapsed (2,412 ) - - - Cancelled (3,276 ) - - - Granted 13,115 - - - Outstanding at October 31 / April 30 10,489 - 3,262 - Exercisable at October 31 / April 30 3,062 - 3,062 - Additional Share grants – The Attachmate Group (“TAG”) acquisition The Remuneration Committee awarded Additional Share Grants (“ASGs”) to a number of senior managers and executives, critical to delivering the anticipated results of the acquisition of The Attachmate Group, which completed on November 20, 2014. ASGs are nil cost options over Ordinary Shares. The ASGs became exercisable, subject to the satisfaction of the performance condition, on the third anniversary of the date of Completion or November 1, 2017, whichever is earlier (the ‘vesting date’) and will remain exercisable until the tenth anniversary of Completion. The performance condition is that the percentage of Ordinary Shares subject to the ASG which may be acquired on exercise on or after the vesting date is as follows: (i) 0% if the Shareholder Return Percentage (as defined below) is 50% or less; (ii) 100% if the Shareholder Return Percentage is 100% or more; and (iii) A percentage determined on a straight-line basis between (i) and (ii) above. The ‘Shareholder Return Percentage’ will be calculated by deducting 819.425 pence per share (the “Reference Price”), being the average of the 20 days before 3 June 2014 (being the date of the heads of agreement relating to the proposed combination of Micro Focus and Attachmate between Micro Focus, Wizard, Golden Gate Capital and Francisco Partners Management LP), from the sum of the ‘Vesting Price’ (calculated as the average closing share price over the period of 20 days ending on the day prior to the vesting date) plus the total of all dividends per share between Completion and the vesting date. This will be divided by the Reference Price, multiplying the resulting figure by 100 to obtain the Shareholder Return Percentage. The weighted average fair value of options granted was £4.40, after using the Monte-Carlo simulation model. The significant inputs into the model were weighted average share price of £11.24 at the grant date, exercise price shown above, expected volatility of 26.11%, expected dividend yield of 3.2%, an expected option life of three years and an annual risk-free interest rate of 2.08%. The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years. Additional Share grants – The HPE Software business acquisition T ASGs are nil cost options over Ordinary Shares. The ASGs will become exercisable, subject to the satisfaction of the performance condition, on the third anniversary of the announcement date of September 7, 2016 (the ‘vesting date’) and will remain exercisable for a period of 84 months commencing on the Vesting date. The performance condition is that the percentage of Ordinary Shares subject to the ASG which may be acquired on exercise on or after the vesting date is as follows: (i) 0% if the Shareholder Return Percentage (as defined below) is 50% or less; (ii) 100% if the Shareholder Return Percentage is 100% or more; and (iii) A percentage determined on a straight-line basis between (i) and (ii) above. The ‘Shareholder Return Percentage’ will be calculated by deducting 1817.75 pence per share (the “Reference Price”), being the average of the 20 days before August 1, 2016 (being the date of the heads of agreement relating to the proposed combination of Micro Focus and the HPE Software business), from the sum of the ‘Vesting Price’ (calculated as the average closing share price over the period of 20 days ending on the day prior to the vesting date) plus the total of all dividends per share between the announcement date and the vesting date. This will be divided by the Reference Price, multiplying the resulting figure by 100 to obtain the Shareholder Return Percentage. On September 20, 2018, the Group announced that, following a review of existing Additional Share Grant ("ASG") awards after the announcement of the forthcoming SUSE sale, ASG awards made to Executive Directors on completion of the HPE Software business acquisition on September 1, 2017 would be cancelled. New ASG awards were granted in order to align with the business plan to deliver value by October 2020 and focus Executive Directors on delivering significant value to shareholders over the 3 years from completion of the Transaction. The Company believes that, in the light of the HPE Software business integration and the wider competitive environment evidenced by recent M&A activity in the software sector, the alignment of the vesting period to September 2020 is essential to provide an effective incentive over the period of the business plan. The current Executive Directors (Kevin Loosemore, Stephen Murdoch and Chris Kennedy) and those who were Executive Directors at the time of the existing award and remain in employment (Nils Brauckmann and Mike Phillips) agreed to surrender their existing ASG awards made on September 1, 2017 which were due to vest on September 7, 2019. In return, the Company has made new ASG awards over ordinary shares in the Company as detailed below, which are due to vest on September 1, 2020 (being 3 years from the completion of the Transaction). Director Number of granted and cancelled nil cost share options over Ordinary Shares Number of replacement nil cost options over Ordinary Shares ‘000 ‘000 Kevin Loosemore 1,100 1,100 Stephen Murdoch 500 947 Chris Kennedy 1 500 676 Mike Phillips 676 676 Nils Brauckmann 500 500 3,276 3,899 1 The share options awarded to Chris Kennedy’s replacement HPE Software ASGs will lapse as a result of his resignation and subsequent leaving employment in February 2019. This has been reflected in the share options disclosures. The Total Shareholder Returns (“TSR”) performance thresholds for the new awards are unchanged from the previous awards, save in respect of the period to vesting, and the number of new awards is equal to the number of previous awards which they replace, except for Stephen Murdoch and Chris Kennedy where increases of 447,000 and 176,000 awards respectively have been made to reflect Stephen’s promotion to Chief Executive Officer and to align Chris' awards to those granted to his predecessor. As new ASG’s have been granted to replace the original ASG’s that have been cancelled, this is treated under IFRS 2 “Share-based payment” as modification of the original ASG grant. Due to the performance conditions attached to them, the fair value for ASG’s is determined using the Monte Carlo simulation method. The fair value of the original awards is determined at the modification date (20 Sept 2018) i.e. replacing the original fair values. The incremental fair value of the new awards over the original awards at the date of modification is recognized in addition to the grant date fair value. The original expense is continued to be recognized over the original service period, the incremental expense is recognized over the remaining service period for the new awards i.e. to September 1, 2020 rather than September 7, 2019. The weighted average fair value of options granted during the period determined using the Monte-Carlo simulation model was £4.80. The significant inputs into the model for the 18 months ended October 31, 2018 were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Weighted average share price at the grant date £ £ Expected volatility Between 28.00% - 31.00% Between 25.81% - 26.11% Expected dividend yield Between 3.26% - 5.29% Between 2.90% - 3.30% Expected option life 1.96 years 3 years Annual risk-free interest rate Between 0.43% - 0.84% Between 1.71% - 2.08% The amount charged to the consolidated statement of comprehensive income in respect of the ASGs was $45.6m for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: $6.6m; April 30, 2016: $7.6m). In addition to this $2.5m (12 months ended April 30,: 2017: $7.0m charge; April 30, 2016: $2.8m charge) was credited to the consolidated statement of comprehensive income in respect of national insurance on these share options in the 18 months ended October 31, 2018. The volatility measured at the standard deviation of continuously compounded share returns is based on statistical daily share prices over the last three years October 31, 2018 April 30, 2017 Weighted average exercise price Number of Options Weighted average remaining contractual Weighted average exercise price Number of Options Weighted average remaining contractual Range of exercise prices pence ‘000 life (years) pence ‘000 life (years) £0.00 - 10,489 5.5 - 3,262 7.6 - 10,489 5.5 - 3,262 7.6 b) Sharesave and Employee Stock Purchase Plan 2006 In August 2006, the Company introduced the Micro Focus Employee Stock Purchase Plan 2006 and the Micro Focus Sharesave Plan 2006, approved by members on July 25, 2006. The Group operates several plans throughout the world, but the two main plans are the Sharesave Plan (“Sharesave”) primarily for UK employees and the Employee Stock Purchase Plan (“ESPP”) for employees in the USA and Canada. The Sharesave and ESPP provide for an annual award of options at a discount to the market price and are open to all eligible Group employees. Under these plans, employees make monthly savings over a period (Sharesave 3 years, ESPP 2 years) linked to the grant of an option with an option price which can be at a discount (Sharesave 20%, ESPP 15%) of the market value of the shares on grant. The option grants are subject to employment conditions and continuous savings. Further Sharesave and ESPP grants were made during the 18 months to October 31, 2018. 18 months ended October 31, 2018 12 months ended April 30, 2017 Number of Options Weighted average exercise price Number Of Options Weighted average exercise price Sharesave ‘000 pence ‘000 pence Outstanding at May 1 559 1,039 544 862 Exercised (294 ) 829 (90 ) 618 Forfeited (223 ) 1,508 (28 ) 1,001 Granted 454 1,293 133 1,466 Outstanding 496 1,185 559 1,039 Exercisable 47 1,116 - - Number of Options ‘000 Date of grant Exercise price per share pence Exercise period 1 February 10, 2015 838.4 April 1, 2018 – September 30, 2018 46 August 7, 2015 1,112.0 October 1, 2018 – March 31, 2019 40 February 9, 2016 1,200.0 April 1, 2019 – September 30, 2019 80 August 12, 2016 1,465.6 October 1, 2019 – February 1, 2020 43 February 23, 2018 1,720.0 April 1, 2021 – September 30, 2021 264 August 3, 2018 1,023.0 October 1, 2021 – March 31, 2022 22 August 3, 2018 1,159.0 October 1, 2021 – April 1, 2022 496 18 months ended October 31, 2018 12 months ended April 30, 2017 Number of Options Weighted Average exercise price Number of Options Weighted average exercise price ESPP ‘000 pence ‘000 pence At May 1 124 1,510 272 1,080 Exercised (110 ) 1,598 (93 ) 998 Forfeited (32 ) 1,236 (142 ) 1,220 Granted 817 1,057 87 1,836 Outstanding 800 1,047 124 1,510 Exercisable - 1,021 - - Number of Options ‘000 Date of grant Exercise price per share pence Exercise period 19 October 1, 2016 1,875.6 October 1, 2018 – December 31, 2018 337 March 1, 2018 1,235.6 March 1, 2020 – May 31, 2020 444 July 1, 2018 868.5 July 1, 2020 – September 30, 2020 800 The amount charged to the consolidated statement of comprehensive income in respect of the Sharesave and ESPP schemes was $2.9m for the 18 months ended October 31, 2018 (12 months ended April 30, 2017: $1.1m; April 30, 2016: $0.9m). The weighted average fair value of options granted in the Sharesave and ESPP schemes during the 18 months ended October 31, 2018 determined using the Black-Scholes valuation model was £6.28 (12 months ended April 30, 2017: £5.36). The significant inputs into the model for the 18 months ended October 31, 2018 were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Weighted average share price at the grant date £ £ Expected volatility between 28.82% - 48.60% 26.95 % Expected dividend yield between 3.86% - 7.02% 2.60 % Expected option life two or three years two or three years Annual risk-free interest rate between 1.3% - 1.5% 0.61 % |
Operating lease commitments - m
Operating lease commitments - minimum lease payments | 18 Months Ended |
Oct. 31, 2018 | |
Operating lease commitments - minimum lease payments [Abstract] | |
Operating lease commitments - minimum lease payments | 36 Operating lease commitments – minimum lease payments At October 31, 2018 the Group has a number of lease agreements in respect of properties, vehicles, plant and equipment, for which the payments extend over a number of years. October 31, 2018 April 30, 2017 $ ’000 $ ’000 Future minimum lease payments under non-cancellable operating leases expiring: No later than one year 65,831 28,330 Later than one year and no later than five years 139,695 85,008 Later than five years 22,503 28,749 Total 228,029 142,087 The Group leases various offices under non-cancellable operating lease agreements that are included in the table. The leases have various terms, escalation clauses and renewal rights. The minimum lease payments payable under operating leases recognized as an expense in the 18 months ended October 31, 2018 were $103.8m (12 months ended April 30, 2017: $26.3m; 12 months ended April 30, 2016: $23.4m). |
Contingent liabilities
Contingent liabilities | 18 Months Ended |
Oct. 31, 2018 | |
Contingent liabilities [Abstract] | |
Contingent liabilities | 37 Contingent liabilities The Company and several of its subsidiaries are, from time to time, parties to legal proceedings and claims which arise in the ordinary course of business. The directors do not anticipate that the outcome of these proceedings, actions and claims, either individually or in aggregate, will have a material adverse effect upon the Group’s financial position. Shareholder litigation Micro Focus International plc and certain current and former directors and officers are involved in two class action lawsuits in which plaintiffs are seeking damages for alleged violations of the Securities Act of 1933 and the Exchange Act of 1934. Plaintiffs allege false and misleading statements or omissions in offering documents issued in connection with the Hewlett Packard Enterprise software business merger and issuance of Micro Focus American Depository Shares (“ADS”) as merger consideration, and other purportedly false and misleading statements. No liability has been recognized in either case as these are still very early in proceedings and it is too early to estimate whether there will be |
Related party transactions
Related party transactions | 18 Months Ended |
Oct. 31, 2018 | |
Related party transactions [Abstract] | |
Related party transactions | 38 Related party transactions The Group’s related parties are its subsidiary undertakings, key management personnel and post-employment benefit plans. Subsidiaries Transactions between the Company and its subsidiaries have been eliminated on consolidation. Remuneration of key management personnel The remuneration of key management personnel of the Group (which is defined as members of the executive committee including executive directors) is set out in note 35. There are no loans between the Group and the key management personnel. Transactions with other related parties . The following transactions occurred with other related parties: Contributions made to pension plans by the Group on behalf of employees are set out in note 27. Sales and purchases of goods and services between related parties are not considered material. |
Business combinations
Business combinations | 18 Months Ended |
Oct. 31, 2018 | |
Business combinations [Abstract] | |
Business combinations | 39 Business combinations Summary of acquisitions Consideration Carrying value at acquisition Fair value Goodwill Shares Cash Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Acquisitions in the 18 months ended October 31, 2018: HPE Software business (2,487,916 ) 4,143,712 4,858,374 6,514,170 - 6,514,170 COBOL-IT (2,952 ) 14,026 5,588 - 16,662 16,662 (2,490,868 ) 4,157,738 4,863,962 6,514,170 16,662 6,530,832 Acquisitions in the 12 months ended April 30, 2017: Serena Software Inc. 147,260 (249,306 ) 379,669 - 277,623 277,623 GWAVA Inc. 618 3,062 12,767 - 16,447 16,447 OpenATTIC - 4,991 - - 4,991 4,991 OpenStack - - - - - - 147,878 (241,253 ) 392,436 - 299,061 299,061 Acquisitions in the 12 months ended April 30, 2016: Authasas BV 1,110 10 8,840 - 9,960 9,960 (2,341,880 ) 3,916,495 5,265,238 6,514,170 325,683 6,839,853 Acquisitions in the 18 months ended October 31, 2018: 1 Acquisition of HPE Software business On September 1, 2017, the Company completed the acquisition of HPE's software business ("HPE Software") by way of merger with a wholly owned subsidiary of HPE incorporated to hold the business of HPE Software in accordance with the terms of the previously announced Merger agreement ("Completion"). Accordingly, on Admission, American Depositary Shares representing 222,166,897 Consideration Shares were issued to HPE Shareholders, representing 50.1% of the fully diluted share capital of the Company. The fair value of the ordinary shares issued was based on the listed share price of the Company as of August 31, 2017 of $6.5 billion. The costs of acquiring the HPE Software business of $70.1m are included in exceptional items (note 4) and include costs relating to due diligence work, legal work on the acquisition agreement and professional advisors on the transaction. There was judgment used in identifying who the accounting acquirer was in the acquisition of the HPE Software business, as the resulting shareholdings were not definitive to identify the entity which obtains control in the Transaction. The Group considered the other factors laid down in IFRS, such as the composition of the governing body of the combined entity, composition of senior management of the combined entity, the entity that issued equity interest, terms of exchange of equity interests, the entity which initiated the combination, relative size of each entity, the existence of a large minority voting interest in the combined entity and other factors (e.g. location of headquarters of the combined entity and, entity name). The conclusion of this assessment is that the Company is the accounting acquirer of the HPE Software business, and the acquisition accounting, as set out below, has been performed on this basis. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value Adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets (note 11) 1 72,825 6,467,000 6,539,825 Property, plant and equipment (note 12) 160,118 - 160,118 Other non-current assets 41,929 - 41,929 Inventories 185 - 185 Trade and other receivables 721,009 - 721,009 Current tax recoverable 496 - 496 Cash and cash equivalents 320,729 - 320,729 Trade and other payables (686,855 ) 1,616 (685,239 ) Current tax liabilities (9,942 ) - (9,942 ) Borrowings (2,547,604 ) - (2,547,604 ) Short-term provisions (30,182 ) - (30,182 ) Short-term deferred income (note 24) 2 (701,169 ) 58,004 (643,165 ) Long-term deferred income ( 2 (116,858 ) 8,652 (108,206 ) Long-term provisions (note 26) (38,983 ) - (38,983 ) Retirement benefit obligations (note 27) (71,445 ) - (71,445 ) Other non-current liabilities (52,421 ) 12,145 (40,276 ) Deferred tax liabilities 3 450,252 (2,403,705 ) (1,953,453 ) Net (liabilities)/assets (2,487,916 ) 4,143,712 1,655,796 Goodwill (note 10) - 4,858,374 Consideration 6,514,170 Consideration satisfied by: Shares 6,514,170 The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $4,858.4m has been capitalized. The Group made a repayment of working capital in respect of the HPE Software business acquisition of $225.8m in the period. Trade and other receivables are net of a provision for impairment of trade receivables of $21.5m. A fair value review has been carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. The fair value adjustments include: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of the HPE Software business 2 Deferred income has been valued taking account of the remaining performance obligations; 3 A deferred tax liability has been established relating to the purchase of intangibles. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 11): Fair value $ ’000 Technology 1,809,000 Customer relationships 4,480,000 Trade names 163,000 Leases 15,000 6,467,000 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. As a consequence of the HPE Software business transaction, the Group is subject to potentially significant restrictions relating to tax issues that could limit the Group’s ability to undertake certain corporate actions (such as the issuance of Micro Focus shares or Micro Focus ADSs or the undertaking of a merger or consolidation) that otherwise could be advantageous to the Group. The Group is obliged to indemnify HPE for tax liabilities relating to the separation of the HPE Software business from HPE if such liabilities are triggered by actions taken by the Group. The Group has robust procedures in place, including ongoing consultation with its tax advisors, to ensure no such triggering actions are taken. The impact of the results of the HPE Software business acquisition has not been separately disclosed in these Financial Statements as it is not practical to do so as it has been integrated into the Micro Focus Product Portfolio segment. 2 Acquisition of COBOL-IT, SAS On December 1, 2017, the Group completed on the acquisition of COBOL-IT SAS (“COBOL-IT”). COBOL-IT is in the business of designing, editing and commercialization of software, IT devices and related services. Consideration of $16.7m consists of completion payment of Euro 11.3m, retention amounts of Euro 2.7m payable at a later date, working capital adjustments and net cash adjustments. The Group has not presented the full IFRS 3 “Business Combinations” disclosures as this acquisition is not material to the Group. A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. The fair value review was finalized in the 12-month hindsight period following completion, which ended on November 30, 2018. Goodwill of $5.6m (note 14), deferred tax liabilities of $3.9m and purchased intangibles of $14.0m (note 15) (Purchased Technology $1.5m, Customer relationships $12.3m and Trade names $0.2m) and cash of $1.0m were recorded as a result of the COBOL-IT acquisition and no hindsight adjustments were identified. 3 Acquisition of Covertix On 15 May 2018, the Group entered into an Asset Purchase Agreement (“the agreement”) to acquire certain assets of Covertix, an Israeli company that had entered voluntary liquidation in April 2018. Covertix used their patented solutions to develop and sell security products that offered control and protection of confidential files when shared with both internal and external parties. Prior to entering liquidation Covertix had offices in Israel and the US, with partners in the Netherlands and Singapore. Under the agreement, the Group paid $2.5 million in cash to acquire certain equipment, patents, licence rights under certain agreements, and seven employees all involved in R&D activities. The purchase completed on July 26, 2018. Under IFRS 3, the Covertix Ltd. acquisition is considered to be a business combination, however due to the immaterial amount of the transaction, the assets acquired have been recorded at cost and are being amortized over their useful lives within the ledgers of the acquiring entities. The Company did not create a new subsidiary for Covertix and no goodwill has been recorded. Acquisitions in the year ended April 30, 2017: 1 Acquisition of Serena Software Inc. On May 2, 2016, the Group acquired the entire share capital of Spartacus Acquisition Holdings Corp. the holding company of Serena Software Inc. (“Serena”) and its subsidiaries for $277.6m, payable in cash at completion. The Group then repaid the outstanding Serena bank borrowings of $316.7m as at May 2, 2016, making the total cash outflow for the Group of $528.5m, net of cash acquired of $65.8m. The transaction costs for the Serena acquisition were $0.9m ($0.5m was incurred in the 12 months ended April 30, 2016). The acquisition is highly consistent with the Group’s established acquisition strategy and focus on the efficient management of mature infrastructure software products. Serena is a leading provider of enterprise software focused on providing Application Lifecycle Management products for both mainframe and distributed systems. Whilst Serena is headquartered in San Mateo, California the operations are effectively managed from offices in Hillsboro, Oregon and St. Albans in the United Kingdom. It operates in a further 10 countries. The Serena Group’s customers are typically highly regulated large enterprises, across a variety of sectors including banking, insurance, telco, manufacturing and retail, healthcare and government. Serena was integrated into the Micro Focus Product Portfolio and the revenues reported in the Development and IT Operations Management Tools sub-portfolio. The transaction was funded through the Group’s existing cash resources together with additional debt and equity finance arranged through Barclays, HSBC, the Royal Bank of Scotland and Numis Securities. On May 2, 2016, the Group’s existing revolving credit facility was extended from $225m to $375m and the Group raised approximately £158.2m (approximately $225.7m) through a Placing underwritten by Numis Securities incurring $3.0m of costs associated with the Placing in March 2016. A fair value review was carried out and finalized on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Goodwill 462,400 (462,400 ) - Intangible assets - purchased 1 - 317,700 317,700 Intangible assets - other 79 - 79 Property, plant and equipment 1,927 - 1,927 Other non-current assets 167 - 167 Deferred tax asset 15,347 - 15,347 Trade and other receivables 27,362 - 27,362 Cash and cash equivalent 65,784 - 65,784 Borrowings – short-term (27,712 ) - (27,712 ) Trade and other payables (11,766 ) - (11,766 ) Provisions – short-term (4,045 ) - (4,045 ) Current tax liabilities (3,173 ) - (3,173 ) Deferred income – short-term 2 (72,217 ) 3,761 (68,456 ) Deferred income – long-term 2 (14,853 ) 798 (14,055 ) Borrowings – long-term (288,938 ) - (288,938 ) Other non-current liabilities (717 ) - (717 ) Deferred tax liabilities 3 (2,385 ) (109,165 ) (111,550 ) Net assets /(liabilities) 147,260 (249,306 ) (102,046 ) Goodwill (note 10) 379,669 Consideration 277,623 Consideration satisfied by: Cash 277,623 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Serena; 2 Deferred income has been valued taking account of the remaining performance obligations; and 3 A deferred tax liability has been established relating to the purchase of intangibles. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 11): Fair value $ ’000 Technology 86,100 Customer relationships 210,200 Trade names 21,400 317,700 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $379.7m has been capitalized. 2 Acquisition of GWAVA Inc. On 30 September 2016, the Group acquired the entire share capital of GWAVA Inc. (“GWAVA”) and its subsidiaries for $16.4m, payable in cash at completion. The transaction costs for the GWAVA acquisition were $1.5m. The acquisition is highly consistent with the Group’s established acquisition strategy and focus on the efficient management of mature infrastructure software products. GWAVA is a leading company in email security and enterprise information archiving (“EIA”). GWAVA has approximately 90 employees, based in the US, Canada and Germany. More than a million users across 60 countries rely on its products in over 3,000 customer organizations, supported by GWAVA’s global team, with a further 1,000 GWAVA business partners collaborating closely to ensure successful customer solutions. In addition to GWAVA’s award winning EIA product Retain, GWAVA has a full suite of products to protect, optimize, secure and ensure compliance for customers running Micro Focus GroupWise. A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets - purchased 1 - 5,330 5,330 Intangible assets - other 2 1,180 (1,180 ) - Property, plant and equipment 195 - 195 Trade and other receivables 3,096 - 3,096 Cash and cash equivalent 2,389 - 2,389 Trade and other payables (1,331 ) - (1,331 ) Deferred income – short-term 3 (4,094 ) 324 (3,770 ) Deferred income – long-term (817 ) - (817 ) Deferred tax liabilities 4 - (1,412 ) (1,412 ) Net assets 618 3,062 3,680 Goodwill (note 10) 12,767 Consideration 16,447 Consideration satisfied by: Cash 16,447 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of GWAVA Inc.; 2 Other intangible assets relating to historic IP has been written down to nil; 3 Deferred income has been valued taking account of the remaining performance obligations; and 4 A deferred tax liability has been established relating to the purchase of intangibles. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 10): Fair value $ ’000 Technology 4,075 Customer relationships 544 Trade names 711 5,330 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $12.8m has been capitalized. 3 Acquisition of OpenATTIC On November 1, 2016, the Group acquired the OpenATTIC storage management technology and engineering talent from the company it-novum GmbH for a cash consideration of 4.7m Euros ($5.0m). The OpenATTIC technology aligns perfectly with SUSE’s strategy to provide open source, software defined infrastructure solutions for the enterprise and will strengthen SUSE Enterprise Storage solution by adding enterprise grade storage management capabilities to the portfolio. The transaction costs for the OpenATTIC acquisition were $1.2m. OpenATTIC will be included in the Group’s SUSE business disposal (note 19). A fair value review was carried out on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets – purchased technology - 4,991 4,991 Net assets - 4,991 4,991 Goodwill - Consideration 4,991 Consideration satisfied by: Cash 4,991 4 Acquisition of OpenStack During the year ended April 30, 2017, the Group acquired purchased technology and talent from HPE for $nil consideration that will expand SUSE’s OpenStack Infrastructure-as-a-Service (“IaaS”) solution and accelerate SUSE’s entry into the growing Cloud Foundry Platform-as-a-Service (“PaaS”) market, subject to regulatory clearances. The last regulatory clearance was received on March 8, 2017 and the deal was completed then. OpenStack will be included in the Group’s SUSE business disposal (note 19). The acquired OpenStack technology assets were integrated into SUSE OpenStack Cloud and the acquired Cloud Foundry and PaaS assets will enable SUSE in the future to bring to market a certified, enterprise-ready SUSE Cloud Foundry PaaS solution for all customers and partners in the SUSE ecosystem. Additionally, SUSE has increased engagement with the Cloud Foundry Foundation, becoming a platinum member and taking a seat on the Cloud Foundry Foundation Board. As part of the transaction, HPE has named SUSE as its preferred open source partner for Linux, OpenStack IaaS and Cloud Foundry PaaS. HPE’s choice of SUSE as their preferred open source partner further cements SUSE’s reputation for delivering high-quality, enterprise-grade open source solutions and services. Acquisitions in the year ended April 30, 2016 Acquisition of Authasas BV On July 17, 2015, the Group acquired the entire share capital of Authasas BV, a company registered in The Hague, the Netherlands. The activities of Authasas BV mainly consist of the developing, producing and publishing/selling of authentication software. The consideration was $10.0m and was satisfied using Micro Focus’ existing bank facilities. The acquisition costs incurred of $0.5m were expensed as exceptional items through administrative expenses in the consolidated statement of comprehensive income for the year ended April 30, 2016. A fair value review was carried out and finalized on the assets and liabilities of the acquired business, resulting in the identification of intangible assets. Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets - purchased 1 - 3,356 3,356 Intangible assets - other 2 1,973 (1,973 ) - Property, plant and equipment 14 - 14 Inventory 11 - 11 Deferred tax asset 3 339 (339 ) - Trade and other receivables 463 - 463 Cash and cash equivalent 106 - 106 Trade and other payables 4 (1,796 ) (68 ) (1,864 ) Deferred tax liabilities 5 - (966 ) (966 ) Net assets 1,110 10 1,120 Goodwill 8,840 Consideration 9,960 Consideration satisfied by: Cash 9,960 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Authasas BV; 2 Other intangible assets relating to product development costs have been written down to nil; 3 The deferred tax asset on acquisition has been written down to nil; 4 Deferred income has been valued taking account of the remaining performance obligations; 5 A deferred tax liability has been established relating to the purchase of intangibles. The purchased intangible assets acquired as part of the acquisition can be analyzed as follows : Fair value $ ’000 Technology 2,545 Customer relationships 811 3,356 The value of the goodwill represents the value of the assembled workforce at the time of the acquisition with specific knowledge and technical skills. It also represents the prospective future economic benefits that are expected to accrue from enhancing the portfolio of products available to the Company’s existing customer base with those of the acquired business. The Group has used acquisition accounting for the purchase and the goodwill arising on consolidation of $8.8m has been capitalized. From the date of acquisition, July 17, 2015, to April 30, 2016, the acquisition contributed $0.1m to revenue. |
Cash Flow Statement
Cash Flow Statement | 18 Months Ended |
Oct. 31, 2018 | |
Cash Flow Statement [Abstract] | |
Cash Flow Statement | 40. Cash Flow Statement Note 18 months ended October 31, 2018 $’000 12 months ended April 30, 2017 1 $’000 12 months ended April 30, 2016 1 $’000 Cash flows from operating activities Profit from continuing operations 707,193 124,083 135,979 Profit from discontinued operation 76,940 33,720 26,993 Profit for the period 784,133 157,803 162,972 Adjustments for: Net interest 6 342,712 95,845 97,348 Taxation 7 (638,875 ) 38,541 32,424 Share of results of associates 1,809 1,254 2,190 Operating profit 489,779 293,443 294,934 Research and development tax credits (2,013 ) (2,998 ) (2,041 ) Depreciation 12 95,179 11,794 11,419 Loss on disposal of property, plant and equipment 4,581 520 109 Amortization of intangible assets 11 943,210 236,434 203,313 Share-based compensation charge 35 72,175 34,506 28,793 Exchange movements (34,505 ) (4,890 ) (2,915 ) Provisions movements 26 142,859 47,266 12,985 Changes in working capital: Inventories 35 29 28 Trade and other receivables (408,879 ) 10,224 (49,175 ) Payables and other liabilities 131,333 (33,252 ) 30,923 Provision utilization 26 (145,012 ) (43,476 ) (55,639 ) Deferred income 131,477 15,375 (16,603 ) Pension funding in excess of charge to operating profit 4,092 (183 ) (18 ) Cash generated from operations 1,424,311 564,792 456,113 1 30 |
Post Balance Sheet Events
Post Balance Sheet Events | 18 Months Ended |
Oct. 31, 2018 | |
Post Balance Sheet Events [Abstract] | |
Post Balance Sheet Events | 41 Post Balance Sheet Events Atalla On May 18, 2018 the Company entered into an agreement with Utimaco Inc. (“Utimaco”), under which Utimaco would acquire the Atalla product lines for $20 million in cash. The deal was subject to regulatory approval by the Committee on Foreign Investment in the United States (“CFIUS”). CFIUS placed the deal into investigation in September and final approval was received October 10, 2018. The deal closed on November 5, 2018 and Utimaco acquired the Atalla HSM product line, the Enterprise Security Manger (“ESKM”) product line, and related supporting assets, including applicable patents and other IP. Share Buyback On August 29, 2018, the company announced the start of a share buy-back program for an initial tranche of up to $200m which was extended on November 5, 2018 to the total value of $400m (including the initial tranche). Up to and including February 13, 2019 the company had spent $400m and purchased 22,455,121 shares at an average price of £13.82 per share. We have extended the buy-back program into a third tranche of up to $110m to be executed in the period from the February 14, 2019, up until the day before the AGM, which takes place on March 29, 2019 when the current buy-back authority approved by shareholders at the 2017 AGM to make market purchases of up to 65,211,171 ordinary shares will expire. Interset Software Inc. acquisition On February 15, 2019 the Group completed the acquisition of Interset Software Inc., a worldwide leader in security analytics software that provides highly intelligent and accurate cyber-threat protection. The addition of this predictive analytics technology adds depth to Micro Focus’ Security, Risk and Governance portfolio and aligns with the company’s strategy to help customers quickly and accurately validate and assess risk as they digitally transform their businesses. |
Significant Accounting polici_2
Significant Accounting policies (Policies) | 18 Months Ended |
Oct. 31, 2018 | |
Significant Accounting policies [Abstract] | |
Basis of preparation | A Basis of preparation The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IASB”) and in conformity with IFRS as adopted by the European Union (collectively “IFRS”). The consolidated financial statements have been prepared on a going concern basis under the historical cost convention. These financial statements have been prepared for an 18-month period as compared with prior 12 month reporting periods and therefore are not entirely comparable. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed below in II, ‘Critical accounting estimates, assumptions and judgements’. The principal accounting policies adopted by the Group in the preparation of the consolidated financial statements are set out below. Other than as described below, the accounting policies adopted are consistent with those of the Annual Report and Accounts for the years ended April 30, 2017 and April 30, 2016, apart from standards, amendments to, or interpretations of, published standards adopted during the period and the restatement of balances in the Consolidated income statement, the Consolidated statement of comprehensive income, the Consolidated statement of cash flows related to assets held for sale and discontinued operations as described below. Going concern The directors, having made enquiries, consider that the Group has adequate resources to continue in operational existence for the foreseeable future and therefore it is appropriate to maintain the going concern basis in preparing these financial statements. Assets held for sale and discontinued operations A current asset (or disposal group) is classified as held for sale if the Group will recover the carrying amount principally through a sale transaction rather than through continuing use. A current asset (or disposal group) classified as held for sale is measured at the lower of its carrying amount and fair value less costs to sell. If the asset (or disposal group) is acquired as part of a business combination it is initially measured at fair value less costs to sell. Assets and liabilities of disposal groups classified as held for sale are shown separately on the face of the balance sheet. The results of discontinued operations are shown as a single amount on the face of the comprehensive income statement comprising the post-tax profit or loss of discontinued operations and the post-tax gain or loss recognized either on measurement to fair value less costs to sell or on the disposal of the discontinued operation. The Consolidated statements of comprehensive income for comparative periods have been revised to present discontinued operations separately . Consolidated Statement of Financial Position – Prior period revision In the prior period deferred tax assets ($208.3m) and deferred tax liabilities ($326.7m) were incorrectly presented on a gross basis in the consolidated statement of financial position as of April 30, 2017 because jurisdictional offsetting, a requirement under IFRS, was not applied to these balances. Management has therefore elected to correct the misstatement and record immaterial adjustments to revise the consolidated statement of financial position as of April 30, 2017 and related notes to apply jurisdictional offsetting in respect of deferred tax assets and liabilities and present these on a net basis where they are expected to be realized as such. The impact of the revision is to reduce deferred tax assets, deferred tax liabilities, non-current assets and non-current liabilities by $208.3m, as compared with the previously reported amounts. The revision has no impact on profit or cash flows for the years ended April 30, 2017 and 2016 or net assets as at April 30, 2017. |
Consolidation | B Consolidation The financial statements of the Group comprise the financial statements of the Company and entities controlled by the Company, its subsidiaries and the Group’s share of its interests in associates prepared at the consolidated statement of financial position date. Subsidiaries Subsidiaries are entities controlled by the Group. The Group has control over an entity where the Group is exposed to, or has rights to, variable returns from its involvement within the entity and it has the power over the entity to effect those returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing control. Control is presumed to exist when the Group owns more than half of the voting rights (which does not always equal percentage ownership) unless it can be demonstrated that ownership does not constitute control. The results of subsidiaries are consolidated from the date on which control passes to the Group. The results of disposed subsidiaries are consolidated up to the date on which control passes from the Group. The purchase method of accounting is used to account for the acquisition of subsidiaries by the Group. The cost of acquisition is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, with costs directly attributable to the acquisition being expensed. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the Group’s share of the identifiable net assets acquired is recorded as goodwill. Where new information is obtained within the 'measurement period' (defined as the earlier of the period until which the Group receives the information it was seeking about facts and circumstances that existed as of the acquisition date or learns that more information is not obtainable, or one year from the acquisition date) about facts and circumstances that existed as at the acquisition date and, if known, would have affected the measurement of the amounts recognized as of that date, the Group recognizes these adjustments to the acquisition balance sheet with an equivalent offsetting adjustment to goodwill. Where new information is obtained after this measurement period has closed, this is reflected in the post-acquisition period. For partly owned subsidiaries, the allocation of net assets and net earnings to outside shareholders is shown in the line ‘Attributable to non-controlling interests’ on the face of the consolidated statement of comprehensive income and the consolidated statement of financial position. Inter-company transactions, balances and unrealized gains on transactions between Group companies are eliminated. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. At October Associates An associate is an entity, that is neither a subsidiary or a joint venture, over whose operating and financial policies the Group exercises significant influence. Significant influence is presumed to exist where the Group has between 20% and 50% of the voting rights but can also arise where the Group holds less than 20% if it has the power to be actively involved and influential in policy decisions affecting the entity. Associates are accounted for under the equity method, where the consolidated statement of comprehensive income and the consolidated financial position includes the Group’s share of their profits and losses and net assets, less any impairment in value. This involves recording the investment initially at cost to the Group, which therefore includes any goodwill on acquisition and then, in subsequent periods, adjusting the carrying amount of the investment to reflect the Group’s share of the associates’ post-acquisition profits and losses, which is recognized in the consolidated statement of comprehensive income, and its share of post-acquisition comprehensive income, which is recognized in the consolidated statement of comprehensive income. Unrealized gains arising from transactions between the Group and its associates are eliminated to the extent of the Group’s interests in the associates. At October 31, 2018 the Group had a 12.5% interest ($9.6m) (April 30, 2017: 12.5%, $11.5m; April 30, 2016: 14.3%, $12.7m) investment in Open Invention Network LLC (“OIN”). There are eight (April 30, 2017: eight; April 30, 2016: seven) equal shareholders of OIN, all holding 12.5% (April 30, 2017: 12.5%; April 30, 2016: 14.3%) interest, and each shareholder has one board member and one alternative board member. The Group exercises significant influence over OIN’s operation and therefore accounts for its investment in OIN as an associate. The investment in associates is part of discontinued operations which will be disposed of with the sale of the SUSE business segment and as such has been transferred to assets held for sale (note 19). |
Revenue recognition | C Revenue recognition The Group recognizes revenues from sales of software licences (including Intellectual Property and Patent rights, to end-users, resellers and Independent Software Vendors (“ISV”), software maintenance, subscription, Software as a Service (“SaaS”), technical support, training and professional services, upon firm evidence of an arrangement, delivery of the software and determination that collection of a fixed or determinable fee is reasonably assured. ISV revenue includes fees based on end usage of ISV applications that have our software embedded in their applications. When the fees for software upgrades and enhancements, maintenance, consulting and training are bundled with the licence fee, they are unbundled using the Group’s objective evidence of the fair value of the elements represented by the Group’s customary pricing for each element in separate transactions. If evidence of fair value exists for all undelivered elements and there is no such evidence of fair value established for delivered elements, revenue is first allocated to the elements where fair value has been established and the residual amount is allocated to the delivered elements. If evidence of fair value for any undelivered element of the arrangement does not exist, all revenue from the arrangement is deferred until such time that there is evidence of delivery. If the arrangement includes acceptance criteria, revenue is not recognized until the Group can objectively demonstrate that the acceptance criteria have been met, or the acceptance period lapses, whichever is earlier. The Group recognizes licence revenue derived from sales to resellers upon delivery to resellers, provided that all other revenue recognition criteria are met; otherwise revenue is deferred and recognized upon delivery of the product to the end-user. Where the Group sells access to a licence for a specified period of time and collection of a fixed or determinable fee is reasonably assured, licence revenue is recognized upon delivery, except in instances where future substantive upgrades or similar performance obligations are committed to. Where these future performance obligations are specified in the licence agreement, and fair value can be attributed to those upgrades, revenue for the future performance obligations is deferred and recognized on the basis of the fair value of the upgrades in relation to the total estimated sales value of all items covered by the licence agreement. Where the future performance obligations are unspecified in the licence agreement, revenue is deferred and recognized ratably over the specified period. For Subscription revenue where access and performance obligations are provided evenly over a defined term, the revenue is deferred and recognized ratably over the specified period. The Group recognizes revenue for SaaS arrangements as the service is delivered, generally on a straight-line basis, over the contractual period of performance. In SaaS arrangements, the Group considers the rights provided to the customer (e.g. whether the customer has the contractual right to take possession of the software at any time during the contractual period without significant penalty, and the feasibility of the customer to operate or contract with another vendor to operate the software) in determining whether the arrangement includes the sale of a software licence. In SaaS arrangements where software licences are sold, licence revenue is generally recognized according to whether perpetual or term licences are sold, when all other revenue recognition criteria are satisfied. Maintenance revenue is recognized on a straight-line basis over the term of the contract, which in most cases is one year. For time and material-based professional services contracts, The Group recognizes revenue as services are rendered and recognizes costs as they are incurred. The Group recognizes revenue from fixed-price professional services contracts as work progresses over the contract period on a proportional performance basis, as determined by the percentage of labor costs incurred to date compared to the total estimated labor costs of a contract. Estimates of total project costs for fixed-price contracts are regularly reassessed during the life of a contract. Amounts collected prior to satisfying the above revenue recognition criteria are included in deferred income. Rebates paid to partners as part of a contracted program are netted against revenue where the rebate paid is based on the achievement of sales targets made by the partner, unless the Company receives an identifiable good or service from the partner that is separable from the sales transaction and for which the Group can reasonably estimate fair value. |
Cost of sales | D Cost of sales Cost of sales includes costs related to the amortization of product development costs, amortization of acquired technology intangibles, costs of the consulting business and helpline support and royalties payable to third parties. |
Segment reporting | E Segment reporting In accordance with IFRS 8, ‘Operating Segments’, the Group has derived the information for its segmental reporting using the information used by the Chief Operating Decision Maker (“CODM”), defined as the Executive Committee. The segmental reporting is consistent with those used in internal management reporting and the measure used by the Executive Committee is the Adjusted EBITDA, as set out in note 1 |
Exceptional items | F Exceptional items Exceptional items are those significant items, which are separately disclosed by virtue of their size, nature or incidence to enable a full understanding of the Group’s financial performance. In setting the policy for exceptional items, judgement is required to determine what the Group defines as ‘exceptional’. The Group considers an item to be exceptional in nature if it is material, non-recurring and does not reflect the underlying performance of the business. Exceptional items are allocated to the financial statement lines (for example: cost of sales) in the Consolidated statement of comprehensive income based on the nature and function of the costs, for example restructuring costs related to employees are classified where their original employment costs are recorded. Management of the Group first evaluates group strategic projects such as acquisitions, divestitures and integration activities, company tax restructuring and other one-off events such as restructuring programs. In determining whether an event or transaction is exceptional, management of the Group considers quantitative and qualitative factors such as its expected size, precedent for similar items and the commercial context for the particular transaction, while ensuring consistent treatment between favorable and unfavorable transactions impacting revenue, income and expense. Examples of transactions which may be considered of an exceptional nature include major restructuring programs, cost of acquisitions or the cost of integrating acquired businesses. |
Employee benefit costs | G Employee benefit costs a) Pension obligations and long-term pension assets The Group operates various pension schemes, including both defined contribution and defined benefit pension plans. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A defined benefit plan is a pension plan that is not a defined contribution plan. For defined contribution plans the Group pays contributions to publicly or privately administered pension insurance plans on a mandatory, contractual or voluntary basis. The Group has no further payment obligations once the contributions have been paid. The contributions are recognized as an employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement. This is usually dependent on one or more factors such as age, years of service and compensation. The liability recognized in the consolidated statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. Certain long-term pension assets do not meet the definition of plan assets as they have not been pledged to the plan and are subject to the creditors of the Group. Such assets are recorded separately in the consolidated statement of financial position as long-term pension assets. The portion of non-plan assets connected with the SUSE segment are recorded within current assets classified as held for sale. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that have terms to mature approximating to the terms of the related pension obligation. Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to equity in other comprehensive income in the period in which they arise. Past-service costs are recognized immediately in income. The current service cost of the defined benefit plan, recognized in the consolidated statement of comprehensive income in employee benefit expense, except where included in the cost of an asset, reflects the increase in the defined benefit obligation resulting from employee service in the current period, benefit changes, curtailments and settlements. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is included in employee benefit expense in the consolidated statement of comprehensive income. Long-term pension assets relate to the reimbursement right under insurance policies held in the Group with guaranteed interest rates that do not meet the definition of a qualifying insurance policy as they have not been pledged to the plan and are subject to the creditors of the Group. Such reimbursement rights assets are recorded in the consolidated statement of financial position as long-term pension assets. These contractual arrangements are treated as available-for-sale financial assets since there is not an exact matching of the amount and timing of some or all of the benefits payable under the defined benefit plan. Gains and losses on long-term pension assets are charged or credited to equity in other comprehensive income in the period in which they arise. b) Share based compensation The Group operated various equity-settled, share based compensation plans during the period. The fair value of the employee services received in exchange for the grant of the shares or options is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the shares or options granted. Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable. Market vesting conditions are taken into account when determining the fair value of the options at grant date. At each consolidated statement of financial position date, the Group revises its estimates of the number of options that are expected to become exercisable. It recognizes the impact of the revision of original estimates, if any, in the consolidated statement of comprehensive income, and a corresponding adjustment to equity over the remaining vesting period. The shares are recognized when the options are exercised and the proceeds received allocated between ordinary shares and share premium account. Fair value is measured using the Black-Scholes pricing model. The expected life used in the model has been adjusted, based on management’s best estimate for the effects of non-transferability, exercise restrictions and behavioral considerations. The Additional Share Grants have been valued using the Monte-Carlo simulation pricing model. When the terms of an equity-settled award are modified, the minimum expense recognized is the grant date fair-value of the unmodified award, provided the original terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. The social security contributions payable in connection with the grant of the share options is considered an integral part of the grant itself, and the charge is treated as a cash-settled transaction. c) Employee benefit trust Transactions, assets and liabilities of the Group sponsored Employee Benefit Trust are included in the consolidated financial statements as it is considered to be an intermediate payment arrangement. In particular, the Trust’s purchases of shares in the Company remain deducted from shareholders’ funds until they vest unconditionally with employees. |
Foreign currency translation | H Foreign currency translation a) Functional and presentation currency The presentation currency of the Group is US dollars. Items included in the financial statements of each of the Group’s entities are measured in the functional currency of each entity. From November 1, 2017, certain HPE Software entities changed their functional currency, reflecting changes in their underlying business model and transactional conditions. b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of comprehensive income. c) Group companies The results and financial position of all the Group entities that have a functional currency different from the presentation currency are translated into the presentation currency as follows: i) Assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the date of that consolidated statement of financial position; ii) Income and expenses for each consolidated statement of comprehensive income item are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions); and iii) All resulting exchange differences are recognized as a separate component of equity. On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to other comprehensive income. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate, with the exception for goodwill arising before May 1, 2004 which is treated as an asset of the Company and expressed in the Company’s functional currency. d) Exchange rates The most important foreign currencies for the Group are Pounds Sterling, the Euro, Israeli Shekel and Canadian Dollar. The exchange rates used are as follows: 18 months ended October 12 months ended April 30, 2017 12 months ended April 30, 2016 Average Closing Average Closing Average Closing £1 = $ 1.33 1.27 1.29 1.29 1.50 1.46 €1 = $ 1.18 1.14 1.09 1.09 1.11 1.14 C$ = $ 0.78 0.76 0.76 0.73 0.77 0.80 ILS = $ 0.28 0.27 0.26 0.28 0.26 0.27 |
Intangible assets | I Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net identifiable assets of the acquired subsidiary at the date of acquisition. Goodwill on acquisitions of subsidiaries is included in intangible assets. Goodwill is tested annually for impairment and carried at cost less accumulated impairment losses. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. Goodwill is allocated to cash-generating units for the purpose of impairment testing. Each of those cash-generating units represents the Group’s investment in each area of operation by each primary reporting segment. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is classified as held for sale, the goodwill associated with the held-for-sale operation is measured based on the relative values of the held-for-sale operation and the portion of the cash-generating unit retained. b) Computer software Computer software licences are capitalized on the basis of the costs incurred to acquire and bring into use the specific software. These costs are amortized using the straight-line method over their estimated useful lives of three to five years. c) Research and development Research expenditure is recognized as an expense as incurred in the consolidated statement of comprehensive income in research and development expenses. Costs incurred on product development projects relating to the developing of new computer software programs and significant enhancement of existing computer software programs are recognized as intangible assets when it is probable that the project will be a success, considering its commercial and technological feasibility, and costs can be measured reliably. Only direct costs are capitalized which are the software development employee costs and third-party contractor costs. Product development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Product development costs are amortized from the commencement of the commercial production of the product on a straight-line basis over the period of its expected benefit, typically being three years, and are included in costs of sales in the consolidated statement of comprehensive income. d) Intangible assets – arising on business combinations Other intangible assets that are acquired by the Group are stated at cost less accumulated amortization. Amortization is charged to the consolidated statement of comprehensive income on a straight-line basis over the estimated useful life of each intangible asset. Intangible assets are amortized from the date they are available for use. The estimated useful lives will vary for each category of asset acquired and to date are as follows: Purchased software Three to five years Technology Three to 12 years Trade names Three to 20 years Customer relationships Two to 15 years Lease contracts Five and half years Amortization of purchased software intangibles is included in administrative expenses, amortization of purchased technology intangibles is included in cost of sales and amortization of acquired purchased trade names, customer relationships and lease contracts intangibles are included in selling and distribution costs in the Consolidated statement of comprehensive income. |
Property, plant and equipment | J Property, plant and equipment All property, plant and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance expenditures are charged to the consolidated statement of comprehensive income during the financial period in which they are incurred. Depreciation is calculated using the straight-line method to write off the cost of each asset to its residual value over its estimated useful life as follows: Buildings 30 years Leasehold improvements Three to 10 years Fixtures and fittings Two to seven years Computer equipment One to five years Freehold land is not depreciated. The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each consolidated statement of financial position date. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the disposal proceeds with the carrying amount and are included in the consolidated statement of comprehensive income. Property held for sale is measured at the lower of its carrying amount or estimated fair value less costs to sell. |
Impairment of non-financial assets | K Impairment of non-financial assets Assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows being cash-generating units. Any non-financial assets other than goodwill which have suffered impairment are reviewed for possible reversal of the impairment at each reporting date. Assets that are subject to amortization and depreciation are also reviewed for any possible impairment at each reporting date. |
Inventories | L Inventories Inventories are stated at the lower of cost and net realizable value. The cost of finished goods comprises software for resale and packaging materials. Net realizable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. When work has been performed and the revenue is not yet recognized, the direct costs of third-party contractors and staff will be treated as work in progress where the probability of invoicing and evidence of collectability can be demonstrated. |
Trade receivables | M Trade receivables Trade receivables are initially recognized at fair value and subsequently measured at amortized cost less provisions for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognized in the consolidated statement of comprehensive income. |
Cash and cash equivalents | N Cash and cash equivalents Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities on the consolidated statement of financial position. |
Borrowings | O Borrowings Borrowings are recognized initially at fair value, net of transaction costs incurred. Subsequent to initial recognition, interest bearing borrowings are stated at amortized cost with any difference between cost and redemption value being recognized in the consolidated statement of comprehensive income over the period of borrowing on an effective interest basis. |
Finance and operating leases | P Finance and operating leases A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Group is classified as a finance lease. Finance leases are capitalized at the commencement of the lease at the inception date fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognized in finance costs in the statement of profit or loss. A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Group will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term. An operating lease is a lease other than a finance lease. Operating lease payments are recognized as an operating expense in the statement of profit or loss on a straight-line basis over the lease term. |
Taxation | Q Taxation Current and deferred tax are recognized in the consolidated statement of comprehensive income, except when the tax relates to items charged or credited directly to equity, in which case the tax is also dealt with directly in equity. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. However, if the deferred income tax arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit nor loss, it is not accounted for. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the consolidated statement of financial position date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is provided on temporary differences arising on investments in subsidiaries, except where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets and liabilities are offset where there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis. Current tax is recognized based on the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted at the consolidated statement of financial position date. |
Ordinary shares, share premium and dividend distribution | R Ordinary shares, share premium and dividend distribution Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Dividend distributions to the Company’s shareholders are recognized as a liability in the Group’s financial statements in the period in which the dividends are approved by the Company’s shareholders. Interim dividends are recognized when they are paid. |
Derivative financial instruments and hedge accounting | S Derivative financial instruments and hedge accounting Financial assets and liabilities are recognized in the Group’s consolidated statement of financial position when the Group becomes a party to the contractual provision of the instrument. Trade receivables are non-interest bearing and are stated at their fair value less the amount of any appropriate provision for irrecoverable amounts. Trade payables are non-interest bearing and are stated at their fair value. Derivative financial instruments are only used for economic hedging purposes and not as speculative investments. The Group uses derivative financial instruments, such as interest rate swaps, to hedge its interest rate risks. Such derivative financial instruments are initially recognized at fair value on the date on which the contract is entered into and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative. Hedge accounting is permitted under certain circumstances provided the following criteria are met: At inception of the hedge, the documentation must include the risk management objective and strategy for undertaking the hedge, identification of the hedging instrument, the hedged item, the nature of the risk being hedged and how the entity will assess the hedging instrument’s effectiveness. Such hedges are expected to be highly effective in achieving offsetting changes in cash flows and are assessed on an ongoing basis to determine the level of effectiveness. The measurement of effectiveness determines the accounting treatment. For effective results, changes in the fair value of the hedging instrument should be recognized in other comprehensive income in the hedging reserve, while any material ineffectiveness should be recognized in the statement of comprehensive income. If either prospective or retrospective testing is not satisfactorily completed, all fair value movements on the hedging instrument should be recorded in the statement of comprehensive income. Hedge accounting is ceased prospectively if the instrument expires or is sold, terminated or exercised; the hedge criteria are no longer met; the forecast transaction is no longer expected to occur; or the entity revokes the hedge designation. |
Provisions | T Provisions Provisions for onerous leases, restructuring costs and legal claims are recognized when the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognized for future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognized even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as an interest expense. |
Adoption of new and revised International Financial Reporting Standards | U Adoption of new and revised International Financial Reporting Standards The accounting policies adopted in these consolidated financial statements are consistent with those of the annual financial statements for the years ended April 30, 2017 and April 30, 2016, with the exception of the following standards, amendments to or interpretations of published standards adopted during the period: The following standards, interpretations and amendments to existing standards are not yet effective and have not been adopted early by the Group: - IFRS 15 ‘Revenue from contracts with customers’ establishes the principles that an entity shall apply to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a contract with a customer. Application of the standard is mandatory for annual reporting periods starting from 1 January 2018 onwards. Earlier application is permitted. The standard replaces IAS 18 ‘Revenue’ and IAS 11 ‘Construction contracts’ and related interpretations clarifications. Please refer to below for a more detailed assessment to-date on implementing this standard. - IFRS 9 ‘Financial instruments’. This standard replaces the guidance in IAS 39 and applies to periods beginning on or after January 1, 2018. It includes requirements on the classification and measurement of financial assets and liabilities; it also includes an expected credit loss model that replaces the current incurred loss impairment model. - Amendments to IFRS 2, ‘Share based payments’ on clarifying how to account for certain types of share-based payment transactions are effective on periods beginning on or after January 1, 2018, subject to EU endorsement. These amendments clarify the measurement basis for cash-settled share-based payments and the accounting for modifications that change an award from cash-settled to equity-settled. It also introduces an exception to the principles in IFRS 2 that will require an award to be treated as if it was wholly equity-settled, where an employer is obliged to withhold an amount for the employee’s tax obligation associated with a share-based payment and pay that amount to the tax authority. - IFRS 16, ‘Leases’ addresses the definition of a lease, recognition and measurement of leases and establishes principles for reporting useful information to users of financial statements about the leasing activities of both lessees and lessors. A key change arising from IFRS 16 is that most operating leases will be accounted for on balance sheet for lessees. The standard replaces IAS 17 ‘Leases', and related interpretations. The standard is effective for annual periods beginning on or after January 1, 2019 and earlier application is permitted if the entity is adopting IFRS 15 'Revenue from contracts with customers' at the same time, subject to EU endorsement. - Annual improvements 2014–2016 include amendments to IFRS 1, ‘First-time adoption of IFRS’, IFRS 12, ‘Disclosure of interests in other entities’ and IAS 28, ’Investments in associates and joint ventures’ regarding measuring an associate or joint venture at fair value applies for periods beginning on or after January 1, 2018, subject to EU endorsement. - IFRIC 22, ‘Foreign currency transactions and advance consideration’ addresses foreign currency transactions or parts of transactions where there is consideration that is denominated or priced in a foreign currency. The interpretation provides guidance for when a single payment/receipt is made as well as for situations where multiple payments/receipts are made, effective for annual periods beginning on or after January 1, 2018, subject to EU endorsement. - Clarifications to IFRS 15 ‘Revenue from Contracts with Customers’ are effective on periods beginning on or after January 1, 2018, subject to EU endorsement. These amendments comprise clarifications of the guidance on identifying performance obligations, accounting for licences of intellectual property and the principal versus agent assessment (gross versus net revenue presentation). - IFRIC 23, ‘Uncertainty over Income Tax Treatments’ clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. In such a circumstance, an entity shall recognize and measure its current or deferred tax asset or liability applying the requirements in IAS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates determined applying this interpretation. This interpretation is effective for annual periods beginning on or after January 1, 2019, subject to EU endorsement. - Annual Improvements 2017 includes amendments to IFRS 3, ‘Business combinations’, IFRS 11 ‘Joint arrangements’ and IAS 12 Income taxes applies for periods beginning on or after January 1, 2019, subject to EU endorsement. - Amendments to IAS 28 Investments in Associates and Joint Ventures – ‘Long-term Interests in Associates and Joint Ventures’, clarifies that IFRS 9 ‘Financial instruments’ applies, including its impairment requirements to long-term interests in an associate or joint venture that form part of the net investment in the associate or joint venture but to which the equity method is not applied’, subject to EU endorsement. - Amendments to IAS 19 ‘Employee Benefits’ clarify that on a plan amendment, curtailment or settlement of a defined benefit plan, entities must use updated actuarial assumptions to determine its current service cost and net interest for the period; and the effect of the asset ceiling is disregarded when calculating the gain or loss on any settlement of the plan and is dealt with separately in other comprehensive income, effective January 1, 2019, subject to EU endorsement. - Amendments to References to the Conceptual Framework in IFRS Standards - Amendments to IFRS 2, IFRS 3, IFRS 6, IFRS 14, IAS 1, IAS 8, IAS 34, IAS 37, IAS 38, IFRIC 12, IFRIC 19, IFRIC 20, IFRIC 22, and SIC-32 to update those pronouncements with regard to the revised the Conceptual Framework, effective January 1, 2020, subject to EU endorsement. For IFRIC 22 and IFRIC 23, it is too early to determine how significant the effect on reported results and financial position will be. The impact of IFRS 15, IFRS 9 and IFRS 16 are discussed below. The impact of the other standards, amendments and interpretations listed above will not have a material impact on the consolidated financial statements. Impact of IFRS 15 ‘Revenue from contracts with customers’ On May 28, 2014, the IASB issued IFRS 15. This standard is mandatory for financial years commencing on or after January 1, 2018, which is effective for Micro Focus on November 1, 2018. Micro Focus will adopt the standard using the modified retrospective approach which means that the cumulative impact of the adoption will be recognised in retained earnings as of November 1, 2018 and that comparatives will not be restated. IFRS 15 replaces guidance in IAS 18 and IAS 11. This standard establishes a new principle-based model of recognizing revenue from customer contracts. It introduces a five-step model that requires revenue to be recognized when control over goods and services are transferred to the customer. Additionally, there is a requirement in the new standard to capitalize certain incremental contract costs. The guidance also requires disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Set out below are the three primary areas of difference and a table setting out the approximate impacts of each of these differences: Cost of Obtaining Customer Contracts The Group has considered the impact of IFRS 15 on the recognition of software sales commission costs, which meet the definition of incremental costs of obtaining a contract under IFRS 15. The Group will apply a practical expedient to expense the sales commission’s costs as incurred where the expected amortisation period is one year or less. An asset will be recognised for the software sales commissions, which will typically be amortised across the contract length, or customer life where the practical expedient cannot be applied. The customer life has been assessed as 6 years in the SUSE business and 5 years in the rest of the Group. The Group will only be capitalizing commissions paid for uncompleted contracts at November 1, 2018 and amortizing those balances in FY19 compared to capitalizing all relevant commissions in future periods. By taking this practical expedient there will be a benefit to profit before tax in the year ended October 31, 2019 as the capitalization of commissions will be greater than the amortization and consequently the overall commission costs will initially be reduced under IFRS 15 compared to existing accounting policies where sales commissions are expensed as incurred. Rebillable Expenses The Group will report expenses that are recharged to customers, such as travel and accommodation, as Service revenue. Under existing accounting policies, these were presented as an offsetting entry within cost of sales. Consideration Payable to a customer Certain payments to customers are required to be presented differently where a defined benefit is received or where the payee acts as agent rather than principal. The Group has considered the impact of such payments including rebates. The Group will continue to account for consideration payable to a customer as a reduction of the transaction price and therefore revenue. However, an adjustment will be recorded as the timing of the considerations payable over the contract term will be accounted for as variable consideration at the outset of the contract. Where the payment is for a distinct good or service, then the Group will account for the purchase in the same way as it does for purchases from other suppliers in the normal course of business. Certain marketing costs, which were previously presented as an offsetting entry within revenue, will now be presented as a Selling and Distribution cost. Presentation Under the new IFRS 15 based policies, the Group will no longer report items as deferred revenue and accrued revenue. Instead, we will present these as either a contract liability or contract asset. Rights to consideration from customers are only presented as accounts receivable if the rights are unconditional. Summary of quantitative impacts Under the IFRS 15 adoption method chosen by the Group, prior period comparatives are not restated to conform to the new policies. Consequently, the period-over-period change of revenue and profit in the year to October 31, We have set out below the estimated impacts on the Group of the three primary areas described above, including the adjustment to retained earnings expected to be recorded on the transition date of November 1, 2018, which will result in a corresponding $73m asset being recorded on the balance sheet: Increase in opening Retained Earnings on November 1, 2018 Estimated increase in Revenue in FY19 Estimated increase / (decrease) in operating expenses in FY19 Estimated increase in profit before tax in FY19 $ ’ m $ ’ m $ ’ m $ ’ m Cost of obtaining customer contracts 66 - (20 ) 20 Rebillable Expenses - 2 2 - Consideration payable to a customer 5 23 23 - 71 25 5 20 IFRS 9 ‘Financial Instruments’ IFRS 9 replaces the provisions of IAS 39 that relate to the recognition, classification and measurement of financial assets and financial liabilities, derecognition of financial instruments, impairment of financial assets and hedge accounting. IFRS 9 also amends certain other standards covering financial instruments such as IAS 1 ‘Presentation of Financial Statements’. IFRS 9 is effective for accounting periods beginning on or after January 1, 2018 and will be adopted by the Group with effect from November 1, 2018. The Group anticipates that the classification and measurement basis for its financial assets will be largely unchanged by the adoption of IFRS 9. There will be no impact on the Group’s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Group does not have any such liabilities. The derecognition rules have been transferred from IAS 39 Financial Instruments: Recognition and Measurement and have not been changed. Under the new hedge accounting rules as a general rule, more hedge relationships might be eligible for hedge accounting, as the standard introduces a more principles-based approach. The Group has confirmed that its current hedge relationships will qualify as continuing hedges upon the adoption of IFRS 9. The main impact of adopting IFRS 9 will arise from the application of the expected credit loss model , The Group will apply IFRS 9 retrospectively, with any material adjustments arising from the new impairment rules recognized in opening equity. Under this approach, comparatives will not be restated. IFRS 16 ‘Leases’ In January 2016, the IASB published IFRS 16 – Leases , IFRS 16 applies to annual reporting periods beginning on or after January 1, 2019. Micro Focus will not early adopt IFRS 16, and therefore the new standard will be effective from November 1, 2019. The Group is still in the process of assessing what adjustments are necessary, including which transition option the Group will apply. It is therefore not yet possible to determine the amount of right-of-use assets and lease liabilities that will have to be recognized on adoption of the new standard and how this may affect the Group’s profit or loss and classification of cash flows going forward. Certain non-GAAP measures disclosed by the Group are expected to be impacted by IFRS 16. |
Critical accounting estimates, assumptions and judgements | II Critical accounting estimates, assumptions and judgements In preparing these consolidated financial statements, the Group has made its best estimates and judgements of certain amounts included in the financial statements, giving due consideration to materiality. The Group regularly reviews these estimates and updates them as required. Actual results could differ from these estimates. Unless otherwise indicated, the Group does not believe that there is significant risk of a material change to the carrying value of assets and liabilities within the next financial year related to the accounting estimates and assumptions described below. The Group considers the following to be a description of the most significant estimates, which require the Group to make subjective and complex judgements, and matters that are inherently uncertain. Critical accounting estimates and assumptions A Potential impairment of goodwill and other intangible assets Each period, or whenever there are changes in circumstances indicating that the carrying amounts may not be recoverable, the Group carries out impairment tests of goodwill and other assets which require estimates to be made of the of the value in use of its CGU’s. These value in use calculations are dependent on estimates of future cash flows, long term growth rates and appropriate discount rates to be applied to future cash flows. Further details on these estimates and sensitivity of the carrying value of goodwill to the discount rate in particular are provided in note 10. B Provision for bad debt The bad debt provision has historically been estimated based on the ageing of each debtor and on any changes in the circumstances of the individual receivable. The historic level of the provision has been very low given the high number of recurring customers and credit control policies with less than $2m of debtors written off as uncollectable in the two previous periods prior to April 30, 2017. However, as discussed in the Chief Financial Officer’s report the newly implemented IT environment in this period caused a material disruption within the order to cash process for the acquired HPE Software business, particularly impacting invoices raised between November 1, 2017 and April 30, 2018, which has significantly elevated debtor ageing with DSO days increased to 94 at October 31, The system issue and subsequent cash collection has since been a key focus for the finance team and it has been found that the primary risk of bad debt is not believed to be related to specific customer credit risks or inappropriate billing, but instead to the administrative burden of invoice remediation needed by the Group before invoices can be resent to customers and payment made by the customer. This burden is high due to the volume of invoices impacted that require administrative changes. The related bad debt provision has been increased to $41.9m as a result of these circumstances at period end against total trade receivables of $1,089.6m. The provision is equivalent to the assumption that only the largest 15% of invoices by value aged > 90 days are expected to be collected and this reflects that a high volume of invoices was impacted. Given the number of invoices impacted, it is reasonably foreseeable that the volume of invoices actually collected will be different to 15% and given that a collection rate of 15% is relatively low, it is more foreseeable that there is greater upside than downside. Were only the largest 10% of invoices by value aged > 90 days collected then the provision recognized would need to be increased by $17m. However, if the largest 20% of invoices by value aged > 90 days were collected then the provision would be reduced by $10m and collection of the largest 30% would reduce the provision by $23m. C Business combinations When making acquisitions, the Group has to make judgements and best estimates about the fair value allocation of the purchase price. Where acquisitions are significant, appropriate advice is sought from professional advisors before making such allocations, otherwise valuations are done by management using consistent methodology with those used on prior period acquisitions. Key judgements upon the acquisition of the HPE Software business were required in the assumptions used to underpin the valuation of acquired intangibles, particularly Customer Relationships ($4.48 billion) and Technology ($1.81billion). There was also judgement used in identifying who the accounting acquirer was in the acquisition of the HPE Software business, as the resulting shareholdings were not definitive to identify the entity, which obtains control in the transaction. As such, the Group considered the other factors laid down in IFRS, such as the composition of the governing body of the combined entity, composition of senior management of the combined entity, the entity that issued the equity interest, terms of exchange of equity interests, the entity which initiated the combination, relative size of each entity, the existence of a large minority voting interest in the combined entity and other factors (e.g. location of headquarters of the combined entity and entity name). The conclusion of this assessment is that the Company is the accounting acquirer of the HPE Software business, and the acquisition accounting is set out in the notes to the Consolidated Financial Statements (note 39 D Revenue recognition The key areas of judgement in respect of recognizing revenue are the timing of recognition and how the different elements of bundled contracts are identified, for example between licence and maintenance revenues. E Exceptional Item classification The Group classifies items as exceptional in line with accounting policy F. The classification of these items as an exceptional is a matter of judgement. This judgement is made by management after evaluating each item deemed to be exceptional against the criteria set out within the defined accounting policy. F Provision for Income Taxes The Group is subject to income taxes in numerous jurisdictions. Significant judgement is required in determining the worldwide provision for income taxes including structuring activities undertaken by the Group and the application of complex transfer pricing rules. The Group recognizes liabilities for anticipated settlement of tax issues based on judgements of whether additional taxes will be due. Significant issues may take several periods to resolve. In making judgments on the probability and amount of any tax charge, management takes into account: · Status of the unresolved matter; · Strength of technical argument and clarity of legislation; · External advice; · Resolution process, past experience and precedents set with the particular taxing authority; · Agreements previously reached in other jurisdictions on comparable issues; and · Statute of limitations. The key judgments in the period were related to the internal transfer of certain Group companies and whether this would create an additional tax charge through non-compliance with specific operational and transactional restrictions arising from US tax legislation and their application to the acquisition of the HPE Software business. Based on their assessment the directors have concluded that no tax provisions are required with regards to these matters. The ultimate tax liability may differ from the amount provided depending on interpretations of tax law, settlement negotiations or changes in legislation. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. III Financial risk factors The Group’s multi-national operations expose it to a variety of financial risks that include the effects of changes in credit risk, foreign currency risk, interest rate risk and liquidity risk. Risk management is carried out by a central treasury department under policies approved by the board of directors. Group treasury identifies and evaluates financial risks alongside the Group’s operating units. The board provides written principles for risk management together with specific policies covering areas such as foreign currency risk, interest rate risk, credit risk and liquidity risk, use of derivative financial instruments and non-derivative financial instruments as appropriate, and investment of excess funds. A Credit risk Financial instruments which potentially expose the Group to a concentration of credit risk consist primarily of cash and cash equivalents and accounts receivable. Cash equivalents are deposited with high-credit quality financial institutions. The Group provides credit to customers in the normal course of business. Collateral is not required for those receivables, but on-going credit evaluations of customers’ financial conditions are performed. The Group maintains a provision for impairment based upon the expected collectability of accounts receivable. The Group sells products and services to a wide range of customers around the world and therefore believes there is no material concentration of credit risk. B Foreign currency risk The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to the Euro, UK Pound Sterling, Israeli Shekel and the Canadian Dollar. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. Foreign exchange risk arises when future commercial transactions, recognized assets and liabilities are denominated in a currency that is not the entity’s functional currency. There were no foreign currency hedging transactions in place at October 31, 2018 and April 30, 2017. The Group has certain investments in foreign operations, whose net assets are exposed to foreign currency translation risk. C Interest rate risk The Group’s income and cash generated from operations are substantially independent of changes in market interest rates. The Group’s interest rate risk arises from short-term and long-term borrowings. Borrowings issued at variable rates expose the Group to cash flow interest rate risk. The Group currently uses four interest rate swaps to manage its cash flow interest rate risk arising from expected increases in the LIBOR interest rate. D Liquidity risk Central treasury carries out cash flow forecasting for the Group to ensure that it has sufficient cash to meet operational requirements and to allow the repayment of the bank facility. Surplus cash in the operating units over and above what is required for working capital needs is transferred to Group treasury. These funds are used to repay bank borrowings or invested in interest bearing current accounts, time deposits or money market deposits of the appropriate maturity period determined by consolidated cash forecasts. Trade payables arise in the normal course of business and are all current. Onerous lease provisions are expected to mature between less than 12 months and nine years. At October 31, 2018 gross borrowings of $4,996.9m (April 30, 2017: $1,595.2m; April 30, 2016: $1,787.3m) related to our senior secured debt facilities (see note 21 |
Significant Accounting polici_3
Significant Accounting policies (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Significant Accounting policies [Abstract] | |
Exchange Rates | The exchange rates used are as follows: 18 months ended October 12 months ended April 30, 2017 12 months ended April 30, 2016 Average Closing Average Closing Average Closing £1 = $ 1.33 1.27 1.29 1.29 1.50 1.46 €1 = $ 1.18 1.14 1.09 1.09 1.11 1.14 C$ = $ 0.78 0.76 0.76 0.73 0.77 0.80 ILS = $ 0.28 0.27 0.26 0.28 0.26 0.27 |
Estimated Useful Lives of Intangible Assets | Purchased software Three to five years Technology Three to 12 years Trade names Three to 20 years Customer relationships Two to 15 years Lease contracts Five and half years |
Estimated Useful Lives of Property, Plant and Equipment | Depreciation is calculated using the straight-line method to write off the cost of each asset to its residual value over its estimated useful life as follows: Buildings 30 years Leasehold improvements Three to 10 years Fixtures and fittings Two to seven years Computer equipment One to five years |
Summary of Quantitative Impacts | We have set out below the estimated impacts on the Group of the three primary areas described above, including the adjustment to retained earnings expected to be recorded on the transition date of November 1, 2018, which will result in a corresponding $73m asset being recorded on the balance sheet: Increase in opening Retained Earnings on November 1, 2018 Estimated increase in Revenue in FY19 Estimated increase / (decrease) in operating expenses in FY19 Estimated increase in profit before tax in FY19 $ ’ m $ ’ m $ ’ m $ ’ m Cost of obtaining customer contracts 66 - (20 ) 20 Rebillable Expenses - 2 2 - Consideration payable to a customer 5 23 23 - 71 25 5 20 |
Segmental reporting (Tables)
Segmental reporting (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Segmental reporting [Abstract] | |
Segmental Reporting | The internal management reporting that the Executive Committee receives includes a pool of centrally managed costs, which are allocated between Micro Focus and the SUSE business based on identifiable segment specific costs with the remainder allocated based on other criteria including revenue and headcount. 18 months ended October 31, 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Note $ ’000 $ ’000 $ ’000 Revenue before deferred revenue haircut 4,815,460 1,084,165 1,001,483 Deferred revenue haircut (61,062 ) (6,892 ) (10,250 ) Segment revenue 4,754,398 1,077,273 991,233 Directly managed costs (2,997,545 ) (564,072 ) (566,457 ) Allocation of centrally managed costs 52,730 26,196 28,883 Total segment costs (2,944,815 ) (537,876 ) (537,574 ) Adjusted Operating Profit 1,809,583 539,397 453,659 Exceptional items 4 (538,156 ) (97,258 ) (27,853 ) Share based compensation charge 35 (64,284 ) (31,463 ) (26,254 ) Amortization of purchased intangibles 11 (830,319 ) (183,284 ) (152,356 ) Operating profit 376,824 227,392 247,196 Net finance costs 6 (342,712 ) (95,845 ) (97,348 ) Profit before tax 34,112 131,547 149,848 Reconciliation to Adjusted EBITDA: Profit before tax 34,112 131,547 149,848 Finance costs 6 350,366 96,824 98,357 Finance income 6 (7,654 ) (979 ) (1,009 ) Depreciation of property, plant and equipment 12 88,611 9,704 9,736 Amortization of intangible assets 11 903,008 206,751 187,337 Exceptional items (reported in Operating profit) 4 538,156 97,258 27,853 Share-based compensation charge 35 64,284 31,463 26,254 Product development intangible costs capitalized 11 (44,350 ) (27,664 ) (30,877 ) Foreign exchange credit (37,292 ) (2,901 ) (2,584 ) Adjusted EBITDA 1,889,241 542,003 464,915 1 note 19 |
Supplementary information (Tabl
Supplementary information (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of Supplementary information [Abstract] | |
Analysis by Geography | The Group is domiciled in the UK. The Group’s revenue from external customers by geographical location are detailed below: 18 months ended October 31, 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 UK 299,579 52,230 55,257 USA 2,279,840 551,519 459,045 Germany 309,534 86,799 108,541 France 195,464 43,242 39,561 Japan 145,820 42,369 35,969 Other 1,524,161 301,114 292,869 Total 4,754,398 1,077,273 991,233 1 ( note 19 |
Analysis of Revenue by Product | Set out below is an analysis of revenue from continuing operations recognized between the principal product portfolios for the 18 months ended October 31, 2018 and 12 months ended April 30, 2017. As a result of the acquisition of HPE Software business the Group’s product portfolios have been redefined. The comparatives for the 12 months ended April 30, 2017 have not been represented into the new product portfolios. 18 months ended October 31, Licence $’000 Maintenance $’000 Consulting $’000 SaaS & other recurring $’000 Total $’000 Application Modernization & Connectivity 256,256 497,632 17,941 - 771,829 Application Delivery Management 185,460 646,711 41,639 114,145 987,956 IT Operations Management 363,150 869,891 192,772 15,055 1,440,868 Security 291,603 580,228 81,429 41,614 994,875 Information Management & Governance 117,227 267,133 32,521 203,053 619,933 Subtotal 1,213,696 2,861,595 366,302 373,867 4,815,460 Deferred revenue haircut (7,592 ) (42,657 ) (2,046 ) (8,767 ) (61,062 ) Total Revenue 1,206,104 2,818,938 364,256 365,100 4,754,398 12 months ended April 30, 2017 1 Licence $’000 Maintenance $’000 Consulting $’000 SaaS & other recurring $’000 Total $’000 CDMS 105,962 149,668 9,530 - 265,160 Host Connectivity 69,158 104,912 1,857 - 175,927 Identity, Access & Security 48,635 141,298 18,354 - 208,287 Development & IT Operations Management Tools 55,464 219,604 13,860 - 288,928 Collaboration & Networking 29,175 112,079 4,609 - 145,863 Subtotal 308,394 727,561 48,210 - 1,084,165 Deferred revenue haircut - (6,892 ) - - (6,892 ) Total Revenue 308,394 720,669 48,210 - 1,077,273 1 note 19 12 months ended April 30, 2016 1 Licence $’000 Maintenance $’000 Consulting $’000 SaaS $’000 Total $’000 Micro Focus Product Portfolio (continuing operations): CDMS 104,737 145,180 8,911 - 258,828 Host Connectivity 89,862 107,171 2,920 - 199,953 Identity, Access & Security 52,360 145,648 22,083 - 220,091 Development & IT Operations Management Tools 33,918 121,310 2,219 - 157,447 Collaboration & Networking 23,943 135,392 5,829 - 165,164 Subtotal 304,820 654,701 41,962 - 1,001,483 Deferred revenue haircut - (10,250 ) - - (10,250 ) Total Revenue 304,820 644,451 41,962 - 991,233 1 note 19 |
Profit before tax (Tables)
Profit before tax (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of Profit before tax [Abstract] | |
Profit before tax | Profit before tax is stated after charging/(crediting) the following operating costs/(gains) classified by the nature of the costs/(gains): 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Note $ ’000 $ ’000 $ ’000 Staff costs 35 2,095,025 480,654 429,493 Depreciation of property, plant and equipment owned assets 12 71,184 9,704 9,736 leased assets 12 17,427 - - Loss on disposal of property, plant and equipment 12 4,581 520 - Amortization of intangibles 11 903,008 206,751 187,337 Inventories – cost of inventories recognized as a credit (included in cost of sales) 16 324 (71 ) (72 ) Operating lease rentals payable – plant and machinery 8,840 2,880 1,559 – property 85,328 18,356 20,706 Provision for receivables impairment 17 40,016 2,023 2,531 Foreign exchange gains (37,292 ) (2,901 ) (2,584 ) 1 note 19 |
Exceptional items (Tables)
Exceptional items (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Exceptional items [Abstract] | |
Exceptional items | 18 months ended October 31, 2018 12 months ended April 30, 12 months ended April 30, Reported within Operating profit: $ ’000 $ ’000 $ ’000 Integration costs 278,995 27,696 23,634 Pre-acquisition costs 43,025 58,004 5,569 Acquisition costs 27,116 2,597 531 Property related costs 38,014 5,525 5,964 Severance and legal costs 129,743 3,436 (4,845 ) Divestiture 21,263 - - Royalty provision release - - (3,000 ) 538,156 97,258 27,853 Reported within finance costs: Finance costs incurred in escrow period ( note 6,326 - - Reported within finance income: Finance income earned in escrow period ( note (553 ) - - 5,773 - - Exceptional costs before tax 543,929 97,258 27,853 Tax: Tax effect of exceptional items (105,911 ) (11,633 ) (6,835 ) Tax exceptional item (692,285 ) - - (798,196 ) (11,633 ) (6,835 ) Exceptional (income)/costs after tax (254,267 ) 85,625 21,018 |
Services provided by the Grou_2
Services provided by the Group's auditors and network of firms (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Services provided by the Group's auditors and network of firms [Abstract] | |
Services from the Group's auditors and network of firms | During the 18 months ended October 31, 2018, the Group obtained the following services from the Group’s auditors as detailed below which have been disclosed in line with the ICAEW Technical Release “Tech 14/13FRF” guidance on the disclosure of auditor remuneration for the audit of accounts and other (non-audit) services, in accordance with the requirements of the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 (Statutory Instrument 2008/489) as amended : 18 months ended October 31, 2018 12 months ended April 30, 12 months ended April 30, $ ’000 $ ’000 $ ’000 Audit of Company 12,223 1,032 563 Audit of subsidiaries 1,887 2,494 2,895 Total audit 14,110 3,526 3,458 Audit related assurance services 914 2,634 782 Other assurance services 664 - - Total assurance services 1,578 2,634 782 Tax compliance services 214 49 60 Tax advisory services 196 53 70 Services relating to taxation 410 102 130 Other non-audit services 35 7,470 1,842 Total 16,133 13,732 6,212 |
Finance income and finance co_2
Finance income and finance costs (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of Finance income and finance costs [Abstract] | |
Finance income and finance costs | Note 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Finance costs Interest on bank borrowings 276,530 81,157 82,369 Commitment fees 3,294 796 1,108 Amortization of facility costs and original issue discounts 60,377 14,219 13,762 Finance costs on bank borrowings 340,201 96,172 97,239 Net interest expense on retirement obligations 27 2,823 565 467 Finance lease expense 2,690 - - Interest rate swaps: cash flow hedges, transfer from equity 3,399 - - Interest on tax provisions - - 525 Other 1,254 87 126 Total 350,366 96,824 98,357 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Finance income Bank interest 3,593 438 377 Interest on non-plan pension assets 27 633 404 333 Other 3,428 137 299 Total 7,654 979 1,009 Net finance cost 342,712 95,845 97,348 Included within exceptional items 4 Finance costs incurred in escrow period 6,326 - - Finance income earned in escrow period (553 ) - - 5,773 - - |
Taxation (Tables)
Taxation (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Taxation [Abstract] | |
Income Tax | 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Current tax Current period 245,875 33,928 23,359 Adjustments to tax in respect of previous periods (14,725 ) 1,698 (20,570 ) 231,150 35,626 2,789 Deferred tax Origination and reversal of timing differences 26,421 (22,426 ) (4,145 ) Adjustments to tax in respect of previous periods 1,213 (4,445 ) 16,010 Impact of change in tax rates (931,865 ) (1,291 ) (785 ) (904,231 ) (28,162 ) 11,080 Total tax (credit)/charge (673,081 ) 7,464 13,669 1 note 19 |
Reconciliation of Income Tax Provision | The tax charge for the 18 months ended October 31, 2018 is lower than the standard rate of corporation tax in the UK of 19.00% (April 30, 2017: 19.92%; April 30, 2016 20.00%). The differences are explained below: 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Profit before taxation 34,112 131,547 149,848 Tax at UK corporation tax rate 19.00% (April 30, 2017: 19.92%; April 30, 2016: 20.00%) 6,481 26,005 29,970 Effects of: Tax rates other than the UK standard rate 17,778 571 5,556 Intra-group financing (20,654 ) (15,636 ) (14,445 ) Innovation tax credit benefits (21,374 ) (9,834 ) (9,393 ) US foreign inclusion income 39,053 394 - US transition tax 238,270 - - Share options 10,236 - - Movement in deferred tax not recognized 7,306 200 (759 ) Effect of change in tax rates (931,865 ) (1,291 ) (237 ) Expenses not deductible and other permanent differences (4,800 ) 9,802 7,737 (659,569 ) 10,211 18,429 Adjustments to tax in respect of previous periods: Current tax (14,725 ) 1,698 (20,570 ) Deferred tax 1,213 (4,445 ) 16,010 (13,512 ) (2,747 ) (4,560 ) Total taxation (673,081 ) 7,464 13,869 1 note 19 |
Dividends (Tables)
Dividends (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Dividends [Abstract] | |
Dividends | 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 Equity - ordinary $ ’000 $ ’000 $ ’000 Final paid 58.33 cents (April 30, 2017: 49.74 cents; April 30, 2016 49.74 cents) per ordinary share 133,889 111,023 70,015 First Interim paid 34.60 cents (April 30, 2017: 29.73 cents; April 30, 2016: 16.94 cents) per ordinary share 156,243 66,512 35,144 Second Interim paid 58.33 cents (April 30, 2017: nil cents; April 30, 2016: nil cents) per ordinary share 252,029 - - 542,161 177,535 105,159 |
Earnings per share (Tables)
Earnings per share (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Earnings per share [Abstract] | |
Reconciliation of Earnings and Weighted Average Number of Shares | Reconciliation of the earnings and weighted average number of shares: 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Earnings ($’000) Profit for the period from continuing operations 707,108 124,186 135,901 Profit for the period from discontinued operations 76,940 33,720 26,993 784,048 157,906 162,894 Number of shares (‘000) Weighted average number of shares 388,717 229,238 218,635 Dilutive effects of shares 10,963 8,165 8,847 399,680 237,403 227,482 Earnings per share Basic earnings per share (cents) Continuing operations 181.91 54.17 62.40 Discontinued operation 19.79 14.71 12.10 201.70 68.88 74.50 Diluted earnings per share (cents) Continuing operations 176.92 52.31 59.97 Discontinued operation 19.25 14.20 11.64 196.17 66.51 71.61 Basic earnings per share (pence) Continuing operations 136.73 41.88 41.54 Discontinued operation 14.88 11.37 8.05 151.61 53.25 49.59 Diluted earnings per share (pence) Continuing operations 132.98 40.44 39.92 Discontinued operations 14.47 10.98 7.74 147.45 51.42 47.66 Earnings attributable to ordinary shareholders From continuing operations 707,193 124,083 135,979 Excluding non-controlling interests (85 ) 103 (78 ) Profit for the period from continuing operations 707,108 124,186 135,901 From discontinued operation 76,940 33,720 26,993 784,048 157,906 162,894 Average exchange rate $ 1.33 / £ $ 1.29 / £ $ 1.50 / £ 1 note 19 |
Goodwill (Tables)
Goodwill (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Goodwill [Abstract] | |
Goodwill Acquisition | October 31, 2018 April 30, 2017 Note $ ’000 $ ’000 Cost and net book amount At 1 May 2,828,604 2,436,168 Acquisitions 39 4,863,962 392,436 Reclassification to assets held for sale 19 (887,523 ) - 6,805,043 2,828,604 A segment-level summary of the goodwill allocation is presented below: Micro Focus 6,805,043 1,969,038 SUSE - 859,566 6,805,043 2,828,604 |
Key Assumption of Goodwill | The long-term growth rate and discount rate used in the VIU calculation are: 2018 2017 Long-term growth rate 1.0 % 1.0 % Pre-tax discount rate (based upon the Groups weighted average cost of capital “WACC”) 9.7 % 11.4 % |
Other intangible assets (Tables
Other intangible assets (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Other intangible assets [Abstract] | |
Other Intangible Assets | Purchased intangibles Purchased software Product Development costs Technology Trade names Customer relationships Lease Contracts Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2017 24,635 213,822 398,917 239,621 972,378 - 1,849,373 Continuing operations: Acquisitions - HPE Software business ( note 39 72,825 - 1,809,000 163,000 4,480,000 15,000 6,539,825 Acquisitions – COBOL-IT (note 39) - - 1,537 154 12,317 - 14,008 Acquisitions – Covertix (note39) 2,490 - - - - - 2,490 Additions 46,812 44,350 - - - - 91,162 Additions – external consultants - 953 - - - - 953 Exchange adjustments (439 ) - - - - - (439 ) Discontinued operation : Reclassification to current assets classified as held for sale ( note 19) (5,121 ) - (50,987 ) (135,116 ) (87,521 ) - (278,745 ) At October 31, 2018 141,202 259,125 2,158,467 267,659 5,377,174 15,000 8,218,627 Accumulated amortization At May 1, 2017 20,970 164,695 222,986 38,849 312,503 - 760,003 Continuing operations: Amortization charge for the period 30,682 42,007 280,478 26,724 519,935 3,182 903,008 Exchange adjustments (848 ) 20 - - - - (828 ) Discontinued operation: Amortization charge for the period 765 - 13,425 9,118 16,894 - 40,202 Reclassification to current assets classified as held for sale ( note 19 (1,422 ) - (38,037 ) (25,810 ) (47,814 ) - (113,083 ) At October 31, 2018 50,147 206,722 478,852 48,881 801,518 3,182 1,589,302 Net book amount at October 31, 2018 91,055 52,403 1,679,615 218,778 4,575,656 11,818 6,629,325 Net book amount at April 30, 2017 3,665 49,127 175,931 200,772 659,875 - 1,089,370 Purchased intangibles Purchased software Product Development costs Technology Trade names Customer relationships Lease contracts Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2016 22,028 185,546 303,672 217,510 761,634 - 1,490,390 Acquisitions ( note 39 - - 95,245 22,111 210,744 - 328,100 Additions 3,162 27,664 - - - - 30,826 Additions – external consultants - 612 - - - - 612 Exchange adjustments (555 ) - - - - - (555 ) At April 30, 2017 24,635 213,822 398,917 239,621 972,378 - 1,849,373 Accumulated amortization At May 1, 2016 20,061 142,297 153,888 22,854 184,735 - 523,835 Charge for the period 1,175 22,398 69,098 15,995 127,768 - 236,434 Exchange adjustments (266 ) - - - - - (266 ) At April 30, 2017 20,970 164,695 222,986 38,849 312,503 - 760,003 Net book amount at April 30, 2017 3,665 49,127 175,931 200,772 659,875 - 1,089,370 Net book amount at April 30, 2016 1,967 43,249 149,784 194,656 576,899 - 966,555 |
Other Intangible Assets Included in Comprehensive Income | Included in the consolidated statement of comprehensive income for the 18 months ended October 31, 2018 and the 12 months ended April 30, 2017 was: 18 months ended October 31, 2018 $’000 12 months ended April 30, 2017 1 $’000 Cost of sales: - amortization of product development costs 42,007 22,398 - amortization of acquired purchased technology 280,478 59,029 Selling and distribution: - amortization of acquired purchased trade names and customer relationships 549,841 124,254 Administrative expenses: - amortization of purchased software 30,682 1,070 Total amortization charge for the period 903,008 206,751 Research and development: - capitalization of product development costs 44,350 27,664 1 note |
Property, plant and equipment (
Property, plant and equipment (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Property, plant and equipment [Abstract] | |
Property, plant and equipment | Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2017 14,363 27,269 32,615 6,037 80,284 Continuing operations: Acquisition – HPE Software business (note 39) - 56,568 79,473 24,077 160,118 Acquisition – COBOL-IT (note 39) - - 52 - 52 Additions - 10,444 33,286 6,408 50,138 Disposals - (7,417 ) (27,105 ) (4,645 ) (39,167 ) Exchange adjustments (15 ) (3,609 ) (8,205 ) (2,467 ) (14,296 ) Discontinued operation: Additions - 20 2,018 29 2,067 Disposals - - (85 ) (15 ) (100 ) Exchange adjustments - 123 264 6 393 Reclassification to current assets classified as held for sale ( note 19) - (4,198 ) (9,050 ) (344 ) (13,592 ) At October 31, 2018 14,348 79,200 103,263 29,086 225,897 Accumulated depreciation At May 1, 2017 1,851 12,751 22,063 2,663 39,328 Continuing operations: Charge for the period 479 26,271 50,725 11,136 88,611 Disposals - (4,005 ) (26,858 ) (3,745 ) (34,608 ) Exchange adjustments (51 ) (1,354 ) (6,406 ) (2,696 ) (10,507 ) Discontinued operation: Charge for the period - 2,695 2,612 1,261 6,568 Disposals - - (66 ) (11 ) (77 ) Exchange adjustments - 29 107 2 138 Reclassification to current assets classified as held for sale ( note 19 - (2,078 ) (5,595 ) (133 ) (7,806 ) At October 31, 2018 2,279 34,309 36,582 8,477 81,647 Net book amount at October 31, 2018 12,069 44,891 66,681 20,609 144,250 Net book amount at May 1, 2017 12,512 14,518 10,552 3,374 40,956 Freehold land and buildings Leasehold improvements Computer equipment Fixtures and fittings Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Cost At May 1, 2016 15,183 23,418 25,455 5,604 69,660 Reclassified from assets held for sale 888 - - - 888 Acquisition – Serena (note 39) - 1,068 648 211 1,927 Acquisition – GWAVA ( note 39) - - 111 84 195 Additions 75 3,536 7,739 377 11,727 Disposals - (450 ) (589 ) (218 ) (1,257 ) Exchange adjustments (1,783 ) (303 ) (749 ) (21 ) (2,856 ) At April 30, 2017 14,363 27,269 32,615 6,037 80,284 Accumulated depreciation At May 1, 2016 1,571 8,814 16,741 1,667 28,793 Charge for the period 454 4,170 6,132 1,038 11,794 Disposals - (79 ) (560 ) (98 ) (737 ) Exchange adjustments (174 ) (154 ) (250 ) 56 (522 ) At April 30, 2017 1,851 12,751 22,063 2,663 39,328 Net book amount at April 30, 2017 12,512 14,518 10,552 3,374 40,956 Net book amount at May 1, 2016 13,612 14,604 8,714 3,937 40,867 |
Group entities (Tables)
Group entities (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Group entities [Abstract] | |
Details of Subsidiaries | Details of subsidiaries as at October 31, 2018 are provided below: Company name Country of incorporation Principal activities Key to Registered Office address Holding companies: 1 Micro Focus Midco Limited UK Holding company 1 2 Micro Focus Group Limited UK Holding company 1 3 Micro Focus CHC Limited UK Holding company 1 4 Micro Focus MHC Limited UK Holding company 1 5 Micro Focus Holdings Unlimited (formerly Micro Focus Holdings Limited) UK Holding company 1 6 Micro Focus (IP) Limited UK Holding company 1 7 Micro Focus (US) Holdings UK Holding company 1 8 Micro Focus IP Limited Cayman Islands Holding company 35 9 Novell Holdings Deutschland GmbH Germany Holding company 50 10 Micro Focus Finance Ireland Limited Ireland Holding company 67 11 Micro Focus Group Holdings Unlimited Ireland Holding company 66 12 Micro Focus International Holdings Limited Ireland Holding company 66 13 NetIQ Ireland Limited Ireland Holding company 66 14 Novell Cayman Software Unlimited Company Ireland Holding company 66 15 Novell Cayman Software International Unlimited Company Ireland Holding company 66 16 Novell Ireland Real Estate Unlimited Company Ireland Holding company 66 17 SUSE Linux Holdings Limited Ireland Holding company 66 18 Novell Software International Limited Ireland Holding company 66 19 Micro Focus Finance S.a.r.l Luxembourg Holding company 80 20 Minerva Finance S.à.r.l. Luxembourg Holding company 80 21 Borland Corporation USA Holding company 4 22 Micro Focus (US) Group, Inc USA Holding company 4 23 MA FinanceCo., LLC USA Holding company 4 24 The Attachmate Group, Inc. USA Holding company 4 25 Novell Holdings, Inc. USA Holding company 4 26 Novell International Holdings, Inc. USA Holding company 4 27 Micro Focus (US) International Holdings Inc. USA Holding company 4 28 Spartacus Acquisition Holdings Corp. USA Holding company 6 29 Spartacus Acquisition Corp. USA Holding company 6 30 Serena Software, Inc. USA Holding company 6 31 Serena Holdings Limited UK Holding company 1 32 Merant Holdings Limited UK Holding company 1 33 GWAVA ULC (formerly GWAVA Inc.) Canada Holding company 28 34 Seattle Holdings, Inc. USA Holding company 6 Trading companies: 35 Attachmate Group Australia Pty Limited Australia Sale and support of software 11 36 Borland Australia Pty Limited Australia Sale and support of software 11 37 Micro Focus Pty Limited Australia Sale and support of software 11 38 Attachmate Group Austria GmbH Austria Sale and support of software 14 39 Borland Entwicklung GmbH Austria Development of software 15 40 Attachmate Group Belgium BVBA Belgium Sale and support of software 16 41 Micro Focus SPRL (formerly Micro Focus NV) Belgium Sale and support of software 16 42 Borland Latin America Ltda Brazil Sale and support of software 19 43 Micro Focus Programmeação de Computadores Ltda Brazil Sale and support of software 19 44 Novell do Brasil Software Ltda Brazil Sale and support of software 19 45 Micro Focus APM Solutions Limited (EOOD) Bulgaria Development of software 25 46 Micro Focus (Canada) ULC (formerly Micro Focus (Canada) Limited) Canada Development, sale and support of software 27 47 Micro Focus Software (Canada), ULC Canada Sale and support of software 29 48 Novell Software (Beijing) Limited China Development, sale and support of software 37 Company name Country of incorporation Principal activities Key to Registered Office address Trading companies : 49 SUSE Linux s.r.o. Czech Republic Development, sale and support of software 42 50 Attachmate Group Denmark ApS (formerly Attachmate Group Demark A/s) Denmark Sale and support of software 44 51 Micro Focus Middle East FZ-LLC United Arab Emirates Sale and support of software 124 52 Attachmate Group France SARL France Sale and support of software 48 53 Borland (France) Sarl France Sale and support of software 48 54 Micro Focus SAS France Sale and support of software 48 55 Attachmate Group Germany GmbH Germany Sale and support of software 51 56 Micro Focus GmbH Germany Sale and support of software 51 57 SUSE Linux GmbH Germany Development, sale and support of software 52 58 Attachmate Group Hong Kong Limited Hong Kong Sale and support of software 56 59 Micro Focus India Private Limited India Support of software 60 60 Micro Focus Software India Private Limited India Development, sale and support of software 60 61 Relativity Technologies Private Limited India Sale and support of software 60 62 Attachmate Ireland Limited Ireland Sale and support of software 65 63 Micro Focus Ireland Limited Ireland Development, sale and support of software 66 64 Micro Focus Software (Ireland) Limited Ireland Development, sale and support of software 67 65 NetIQ Europe Limited Ireland Sale and support of software 65 66 Micro Focus Israel Limited Israel Development and support of software 69 67 Attachmate Group Italy Srl Italy Sale and support of software 73 68 Micro Focus Srl Italy Sale and support of software 73 69 Borland Co, Limited Japan Sale and support of software 78 70 Micro Focus KK Japan Sale and support of software 78 71 Novell Japan Limited Japan Sale and support of software 78 72 NetIQ KK Japan Sale and support of software 78 73 Novell Corporation (Malaysia) Sdn. Bhd. Malaysia Sale and support of software 83 74 Attachmate Group Netherlands B.V. Netherlands Sale and support of software 86 75 Authasas B.V. Netherlands Sale and support of software 86 76 Borland B.V. Netherlands Sale and support of software 86 77 Micro Focus B.V. (formerly Micro Focus NV) Netherlands Sale and support of software 86 78 Micro Focus Software (New Zealand) Unlimited (formerly Novell New Zealand Limited) New Zealand Sale and support of software 90 79 Micro Focus AS Norway Sale and support of software 91 80 Novell Portugal Informatica Lda Portugal Sale and support of software 94 81 Attachmate Group Singapore Pte. Limited Singapore Sale and support of software 100 82 Borland (Singapore) Pte. Limited Singapore Sale and support of software 100 83 Micro Focus Pte Limited Singapore Sale and support of software 100 84 Attachmate Group South Africa (Pty) Limited South Africa Sale and support of software 103 85 Micro Focus South Africa (Pty) Limited South Africa Sale and support of software 104 86 Micro Focus Korea Limited South Korea Sale and support of software 106 87 Novell Korea Co., Limited South Korea Sale and support of software 107 88 Attachmate Group Spain S.L. Spain Sale and support of software 108 89 Micro Focus S.L.U. Spain Sale and support of software 109 90 Attachmate Group Sweden AB Sweden Sale and support of software 112 91 Attachmate Group Schweiz AG Switzerland Sale and support of software 114 92 Micro Focus GmbH (formerly Micro Focus AG) Switzerland Sale and support of software 115 93 Novell (Taiwan) Co., Limited Taiwan Sale and support of software 119 94 Attachmate Teknoloji Sa Turkey Sale and support of software 121 95 Attachmate Sales UK Limited UK Sale and support of software 1 Company name Country of incorporation Principal activities Key to Registered Office address Trading companies : 96 Micro Focus IP Development Limited UK Development and support of software 1 97 Micro Focus Limited UK Sale and support of software 1 98 Novell U.K. Limited UK Sale and support of software 1 99 Novell UK Software Limited UK Sale and support of software 1 100 Micro Focus Software, Inc. USA Development and support of software 4 101 Attachmate Corporation USA Development and support of software 5 102 Micro Focus (US), Inc. USA Development and support of software 4 103 NetIQ Corporation USA Development and support of software 4 104 SUSE LLC USA Development and support of software 7 105 Borland Software Corporation USA Development and support of software 4 106 Serena Software Pty Limited Australia Sale and support of software 11 107 Serena Software Benelux BVBA Belgium Sale and support of software 16 108 Serena Software Do Brasil Ltda Brazil Sale and support of software 21 109 Serena Software SAS France Sale and support of software 48 110 Serena Software GmbH Germany Sale and support of software 54 111 Serena Software Japan KK Japan Sale and support of software 78 112 Serena Software Pte. Limited Singapore Sale and support of software 100 113 Serena Software SA Spain Sale and support of software 110 114 Serena Software Europe Limited UK Sale and support of software 1 115 Serena Software Ukraine LLC Ukraine Sale and support of software 123 116 GWAVA Technologies Inc. USA Sale and support of software 6 117 GWAVA EMEA GmbH Germany Sale and support of software 53 Dormant companies: 118 Cambridge Technology Partners do Brasil s.c. Ltda Brazil Dormant 20 119 NetManage Canada ULC (formerly NetManage Canada Inc.) Canada Dormant 27 120 Borland Canada Software ULC (formerly Borland Canada, Inc. Canada Dormant 28 121 Micro Focus International Limited Cayman Islands Dormant 35 122 NetIQ Software International Limited Cyprus Dormant 41 123 NOVL Czech s.r.o. Czech Republic Dormant 42 124 Attachmate Middle East LLC Egypt Dormant 46 125 Borland GmbH Germany Dormant 51 126 Attachmate (Hong Kong) Limited Hong Kong Dormant 56 127 Borland (H.K.) Limited Hong Kong Dormant 57 128 NetIQ Asia Ltd. Hong Kong Dormant 57 129 Attachmate India Private Limited India Dormant 59 130 Borland Software India Private Limited India Dormant 60 131 Cambridge Technology Partners India Private Limited India Dormant 60 132 Novell India Pvt. Limited India Dormant 61 133 SUSE Linux Ireland Limited Ireland Dormant 66 134 N.Y. NetManage (Yerushalayim) Limited Israel Dormant 70 135 Novell Israel Software Limited Israel Dormant 71 136 Authasas Advanced Authentication B.V. Netherlands Dormant 86 137 Borland (Holding) UK Limited UK* Dormant 1 138 Borland (UK) Limited UK* Dormant 1 139 Micro Focus APM Solutions Limited UK* Dormant 1 140 Micro Focus UK Limited UK* Dormant 1 141 NetIQ Limited UK* Dormant 1 142 Ryan McFarland Limited UK* Dormant 1 Company name Country of incorporation Principal activities Key to Registered Office address Dormant companies : 143 XDB (UK) Limited UK* Dormant 1 144 Borland Technology Corporation USA Dormant 4 145 CJDNLD, LLC USA Dormant 4 146 Micro Focus (IP) Holdings Limited UK Dormant 1 147 Micro Focus (IP) Ireland Limited Ireland Dormant 66 Acquisitions in the period ended October 31, 2018: HPE Software business: 148 Autonomy Australia Pty Limited Australia Sale and support of software 12 149 Autonomy Systems Australia Pty Limited Australia Sale and support of software 12 150 Entco Australia Pty Limited Australia Sale and support of software 12 151 Entcorp Australia Pty Limited Australia Sale and support of software 12 152 Autonomy Belgium BVBA Belgium Sale and support of software 17 153 Entco Belgium BVBA Belgium Sale and support of software 17 154 Entco Holdings L.P. Bermuda Holding company 18 155 Entco Brasil Servicos de Tecnologia Ltda Brazil Sale and support of software 22 156 Peregrine Systems do Brazil Limitada Brazil Sale and support of software 23 157 Verity Worldwide Limited British Virgin Islands Sale and support of software 24 158 Entco Bulgaria EOOD Bulgaria Sale and support of software 26 159 Autonomy Systems (Canada) Limited Canada Sale and support of software 32 160 Entco Software Canada Co. Logiciels Entco Canada Cie Canada Sale and support of software 33 161 Entcorp Canada, Inc. Canada Sale and support of software 34 162 Entco Bellatrix HoldCo Cayman Islands Sale and support of software 36 163 Entco Capital Co Cayman Islands Sale and support of software 36 164 Entco Investment Co Cayman Islands Sale and support of software 36 165 Entco Marigalante Limited Cayman Islands Sale and support of software 36 166 Autonomy Systems (Beijing) Limited Company China Sale and support of software 38 167 Shanghai Entco Software Technology Co., Limited China Sale and support of software 39 168 Entco CentroAmerica CAC Limitada Costa Rica Sale and support of software 40 169 Entco Costa Rica Limitada Costa Rica Sale and support of software 40 170 Entcorp Czechia, s.r.o. Czech Republic Sale and support of software 43 171 Entco Denmark ApS Denmark Sale and support of software 45 172 Entco France SAS France Sale and support of software 49 173 Entco Deutschland GmbH Germany Sale and support of software 55 174 EntCorp Hong Kong Limited Hong Kong Sale and support of software 58 175 Autonomy Software Asia Private Limited India Sale and support of software 64 176 Entco IT Services Private Limited India Sale and support of software 62 177 Entco Software India Private Limited India Sale and support of software 63 178 Entsoft Galway Limited Ireland Sale and support of software 68 179 Entsoft Holding Ireland Unlimited Company Ireland Holding company 68 180 Entsoft Ireland Limited Ireland Sale and support of software 68 181 Entco Interactive (Israel) Limited Israel Sale and support of software 72 182 Entcorp Software Israel Limited Israel Sale and support of software 72 183 Autonomy Italy Srl Italy Sale and support of software 74 184 Entco Italiana Srl Italy Sale and support of software 75 185 Enterprise Corp Italiana Srl Italy Sale and support of software 76 186 Verity Italia Srl Italy Sale and support of software 77 187 Entcorp Japan K.K. Japan Sale and support of software 79 188 Micro Focus Enterprise Limited Japan Sale and support of software 78 189 Entco Luxembourg Sarl Luxembourg Sale and support of software 81 190 Verity Luxembourg S.à r.l. Luxembourg Sale and support of software 82 191 Entco Software Malaysia Sdn. Bhd. Malaysia Sale and support of software 84 192 Entco Mexico, S. de R.L. de C.V. Mexico Sale and support of software 85 193 Entco Software México, S. de R.L. de C.V. Mexico Sale and support of software 85 Company name Country of incorporation Principal activities Key to Registered Office address Acquisitions in the period ended October 31, 2018 : HPE Software business : 194 Entcorp Software México, S. de R.L. de C.V. Mexico Sale and support of software 85 195 Autonomy HoldCo B.V. Netherlands Sale and support of software 87 196 Autonomy Netherlands BV Netherlands Sale and support of software 88 197 Entco Caribe B.V. Netherlands Sale and support of software 87 198 Entco Draco B.V. Netherlands Sale and support of software 87 199 Entco Eastern Holding B.V. Netherlands Holding company 87 200 Entco Eastern Holding II B.V. Netherlands Holding company 87 201 Entco Enterprise B.V. Netherlands Sale and support of software 87 202 Entco Gatriam Holding B.V. Netherlands Holding company 87 203 Entco HoldCo B.V. Netherlands Holding company 87 204 Entco HoldCo I B.V. Netherlands Holding company 87 205 Entco HoldCo II B.V. Netherlands Holding company 87 206 Entco HoldCo III B.V. Netherlands Holding company 87 207 Entco HoldCo IV B.V. Netherlands Holding company 87 208 Entco Holding Berlin B.V. Netherlands Holding company 87 209 Entco Holding Finance B.V. Netherlands Holding company 87 210 Entco Holding Hague B.V. Netherlands Holding company 87 211 Entco Holding Hague II B.V. Netherlands Holding company 87 212 Entco International Trade B.V. Netherlands Sale and support of software 87 213 Entco Nederland B.V. Netherlands Sale and support of software 87 214 Entco Puerto Rico B.V. Netherlands Sale and support of software 87 215 Entco Sinope Holding B.V. Netherlands Holding company 87 216 Entcorp Nederlands B.V. Netherlands Sale and support of software 88 217 Verity Benelux B.V. Netherlands Sale and support of software 88 218 Entcorp Philippines, Inc. Philippines Sale and support of software 92 219 Entco Polska sp. z o.o. Poland Sale and support of software 93 220 Entco Caribe B.V. LLC Puerto Rico Sale and support of software 95 221 Entco Puerto Rico B.V. LLC Puerto Rico Sale and support of software 96 222 Entco Software Romania SRL Romania Sale and support of software 97 223 Limited Liability Company Entco Russian Federation Sale and support of software 98 224 Autonomy Systems Singapore Pte Ltd Singapore Sale and support of software 101 225 Micro Focus Software Pte. Ltd (formerly - Entco Singapore (Sales) Pte. Ltd.) Singapore Sale and support of software 101 226 Entco Software Pte. Ltd. Singapore Sale and support of software 101 227 Autonomy Systems Software South Africa Pty Ltd South Africa Sale and support of software 105 228 Entco Field Delivery Spain, S.L.U. Spain Sale and support of software 111 229 EntCo Software Spain S.L.U. Spain Sale and support of software 111 230 Entco Sverige AB Sweden Sale and support of software 113 231 Entco International Sàrl Switzerland Sale and support of software 116 232 Entco Schweiz GmbH Switzerland Sale and support of software 117 233 Trilead GmbH Switzerland Sale and support of software 118 234 Entco Turkey Teknoloji Çözümle ri Limited Şirketi Turkey Sale and support of software 122 235 Entco Software Services Middle East FZ-LLC United Arab Emirates Sale and support of software 125 236 Autonomy Systems Limited United Kingdom Sale and support of software 2 237 Entco Foreign HoldCo Limited United Kingdom Holding company 2 238 Entco Situla Holding Limited United Kingdom Holding company 2 239 Entcorp Marigalante UK Limited United Kingdom Sale and support of software 2 240 Entcorp UK Limited United Kingdom Sale and support of software 2 241 Longsand Limited United Kingdom Sale and support of software 2 242 ArcSight, LLC USA Sale and support of software 10 243 Entco Andromeda LLC USA Sale and support of software 10 244 Entco Brazil Holdings LLC USA Holding company 8 245 Entco Delaware LLC USA Sale and support of software 10 Company name Country of incorporation Principal activities Key to Registered Office address Acquisitions in the period ended October 31, 2018 : HPE Software business : 246 Entco Government Software LLC USA Sale and support of software 10 247 Entco Holdings, Inc. USA Holding company 10 248 Entco MS, Inc. USA Sale and support of software 10 249 Entco Technologies, Inc. USA Sale and support of software 10 250 Entco, LLC USA Sale and support of software 10 251 EntIT Software LLC USA Sale and support of software 10 252 MicroLink LLC USA Sale and support of software 10 253 Seattle Escrow Borrower LLC USA Holding company 10 254 Seattle SpinCo, Inc. USA Holding company 10 255 Stratify, Inc. USA Sale and support of software 10 256 Vertica Systems, LLC USA Sale and support of software 10 257 Voltage Security International, Inc. USA Sale and support of software 10 COBOL IT: 258 Cobol-IT, SAS France Sale and support of software 47 New companies incorporated in the period ended October 31, 2018: 259 SUSE Software Solutions Australia Pty Limited Australia Sale and support of software 13 260 Serena Software Canada Limited Canada Sale and support of software 30 261 SUSE Software Solutions Canada ULC Canada Sale and support of software 31 262 SUSE International Holdings GmbH Germany Holding company 52 263 Attachmate Australasia Pty Limited Australia Sale and support of software 11 264 SUSE Software Solutions Hong Kong Limited Hong Kong Sale and support of software 59 265 SUSE Software Solutions Netherlands BV Netherlands Sale and support of software 89 266 Micro Focus Software (IP) Holdings Limited UK Holding company 1 267 SUSE Software Solutions International Services Limited Ireland Sale and support of software 66 268 SUSE Software Solutions Ireland Limited Ireland Sale and support of software 66 269 Micro Focus LLC Saudi Arabia Sale and support of software 99 270 SUSE Software Solutions South Africa (Pty) Limited South Africa Sale and support of software 102 271 Micro Focus Enterprise (Tunisia) LLC Tunisia Sale and support of software 120 272 SUSE Software Solutions UK Limited UK Sale and support of software 3 273 Micro Focus Integration Holdings Limited UK Holding company 1 274 Micro Focus Integration Limited UK Sale and support of software 1 275 Micro Focus Midco Holdings Limited UK Holding company 1 276 Marcel Holdings LLC USA Sale and support of software 9 * The above companies incorporated in the UK are exempt from audit and from preparing Annual Accounts. |
Investments in associates (Tabl
Investments in associates (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Investments in associates [Abstract] | |
Investment in Associates | The following table shows the aggregate movement in the Group’s investment in associates: 18 months ended October 31, 2018 12 months ended April 30, 2017 $ ’000 $ ’000 At 1 May 11,457 12,711 Gain on dilution of investment - 966 Share of post-tax loss of associates (1,809 ) (2,220 ) (1,809 ) (1,254 ) Reclassification to current assets classified as held for sale (note 19) (9,648 ) - - 11,457 |
Principal Associates | Details of the Group’s principal associates are provided below. Company name Country of incorporation and principal place of business Proportion held Principal activities Open Invention Network LLC USA 12.5 % Sale and support of software |
Financial Information of Associates | The assets, liabilities, and equity of the Group’s associate as at September 30, 2018 (2017: March 31, 2017) and the revenue and loss of the Group’s associate for the period ended September 30, 2018 (2017: March 31, 2017) with the corresponding adjustment to align the reporting period was as follows: September 30, 2018 March 31, 2017 $ ’000 $ ’000 Non-current assets 38,206 43,649 Current assets 41,672 50,137 Current liabilities (672 ) (604 ) Non-current liabilities (1,028 ) (527 ) Net assets 78,178 92,655 Equity (78,178 ) (92,655 ) 18 months ended September 30, 2018 12 months March 31, 2017 $ ’000 $ ’000 Revenue - - Net loss 14,477 16,212 18 months to October 31, 2018 12 months to April 30, 2017 $ ’000 $ ’000 Loss attributable to the Group for the period ended 30 September 2018 (March 31, 2017 (14.3% ownership to June 6, 2016, 12.5% thereafter)) 1,810 2,095 Adjustment on estimated October 31, 2018 result attributable to the Group (April 30, 2017) (1 ) 125 Loss attributable to the Group for the period ended October 31, 2018 (April 30, 2017 (14.3% ownership to June 6, 2016, 12.5% thereafter)) 1,809 2,220 |
Other non-current assets (Table
Other non-current assets (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Other non-current assets [Abstract] | |
Other Non-current Assets | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Employee Benefit Deposit 31,132 - Long-term rent deposits 4,140 2,844 Long Term Prepaid Expenses 2,893 - Other 625 249 38,790 3,093 |
Inventories (Tables)
Inventories (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Inventories [Abstract] | |
Inventories | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Work in progress - 13 Finished goods 204 51 204 64 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Trade and other receivables [Abstract] | |
Trade and Other Receivables | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Trade receivables 1,089,589 266,225 Less: provision for impairment of trade receivables (41,860 ) (2,599 ) Trade receivables net 1,047,729 263,626 Prepayments 59,966 23,239 Other receivables 79,062 1,534 Accrued income 85,276 1,110 1,272,033 289,509 |
Ageing of Impairment on Trade Receivables | The ageing of these receivables is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Up to three months - 48 Three to four months 3,621 731 Over four months 38,239 1,820 41,860 2,599 |
Provision for Impairment of Trade Receivables | Movements in the Group provision for impairment of trade receivables were as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 At 1 May 2,599 4,486 Provision for receivables impairment 40,016 2,023 Receivables written off as uncollectable (686 ) (1,271 ) Receivables previously provided for but now collected (53 ) (2,542 ) Exchange adjustments (16 ) (97 ) At October 31 / April 30 41,860 2,599 |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Cash and cash equivalents [Abstract] | |
Cash and Cash Equivalents | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Cash at bank and in hand 387,115 146,832 Short-term bank deposits 236,687 4,151 623,802 150,983 Reclassification to current assets classified as held for sale (note 19) (2,906 ) - Cash and cash equivalents 620,896 150,983 |
Credit Quality of Cash and Cash Equivalents | The credit quality of cash and cash equivalents is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 S&P/Moody’s/Fitch rating: AAA 231,517 33,057 AA- 80,975 69,814 A+ 260,404 25,221 A 20,063 6,355 A- 3,767 5,820 BBB+ 4,546 471 BBB 994 903 BBB- 558 165 BB+ 2,042 357 BB 32 283 BB- 15,187 8,221 B+ - 24 CCC+ 212 193 C- 321 - Not Rated 278 99 620,896 150,983 |
Discontinued operation and as_2
Discontinued operation and assets classified as held for sale (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Discontinued operation and assets classified as held for sale [Abstract] | |
Discontinued Operation for Financial Performance and Cash Flow | Discontinued operation – Financial performance 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $’000 $’000 $’000 Revenue 538,160 303,429 253,816 Operating costs (427,014 ) (238,632 ) (208,268 ) Profit before taxation 111,146 64,797 45,548 Taxation (34,206 ) (31,077 ) (18,615 ) Profit for the period from discontinued operation 76,940 33,720 26,933 Discontinued operation – Cash flow The cash flow statement shows amounts related to the discontinued operation. 18 months ended October 31, 2018 $’000 12 months ended April 30, 2017 $’000 12 months ended April 30, 2016 $’000 Net cash inflows from operating activities 136,058 70,411 66,107 Net cash outflows from investing activities (2,512 ) (7,430 ) (1,298 ) Net cash flows from financing activities - - - |
Net Assets Classified as Held for Sale | Net Assets classified as held for sale October 31, 2018 Reported in: Current assets Current liabilities Total $ ’000 $ ’000 $ ’000 SUSE 1,114,264 (427,236 ) 687,028 Atalla 28,187 (10,463 ) 17,724 1,142,451 (437,699 ) 704,752 |
SUSE business segment [Member] | |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Assets and Liabilities Relating to Business Segment | The assets and liabilities relating to SUSE have been presented as held for sale following the shareholder approval on August 21, 2018. Costs to sell have been included in trade and other payables. Note October 31, 2018 $ ’000 Non-current assets Goodwill 10 859,566 Other Intangible assets 11 165,662 Property, plant and equipment 12 5,786 Investment in associates 14 9,648 Deferred tax assets 1,586 Long-term pension assets 27 1,543 Other non-current assets 2,020 1,045,811 Current assets Trade and other receivables 65,547 Cash and cash equivalents 2,906 68,453 Current Assets 1,114,264 Current liabilities Trade and other payables (37,833 ) Provisions 26 (664 ) Current tax liabilities (1,156 ) Deferred income (218,349 ) (258,002 ) Non-current liabilities Deferred income (160,791 ) Retirement benefit obligations 27 (5,530 ) Long-term provisions 26 (2,376 ) Other non-current liabilities (537 ) (169,234 ) Current Liabilities (427,236 ) Net assets classified as held for sale 687,028 |
Atalla [Member] | |
Disclosure of analysis of single amount of discontinued operations [line items] | |
Assets and Liabilities Relating to Business Segment | The assets and liabilities relating to the Atalla business included in the Financial Statements at October 31, 2018 amount to $17.7m. October 31, 2018 $ ’000 Goodwill 27,957 Property, plant and equipment 230 Non-current assets 28,187 Deferred income (10,463 ) Current Liabilities (10,463 ) Net assets classified as held for sale 17,724 |
Trade and other payables - cu_2
Trade and other payables - current (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Trade and other payables - current [Abstract] | |
Trade and Other Payables - Current | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Trade payables 46,096 16,891 Tax and social security 46,525 3,032 Accruals 584,296 150,119 676,917 170,042 |
Borrowings (Tables)
Borrowings (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Borrowings [Abstract] | |
Borrowings | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Bank loan secured 4,996,913 1,595,188 Unamortized prepaid facility arrangement fees and original issue discounts (151,033 ) (33,652 ) 4,845,880 1,561,536 October 31, 2018 April 30, 2017 Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts Total Bank loan secured Unamortized prepaid facility arrangement fees and original issue discounts T Reported within: $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Current liabilities 50,347 (46,645 ) 3,702 83,788 (12,604 ) 71,184 Non-current liabilities 4,946,566 (104,388 ) 4,842,178 1,511,400 (21,048 ) 1,490,352 4,996,913 (151,033 ) 4,845,880 1,595,188 (33,652 ) 1,561,536 |
Movements on the Group Loans | The movements on the Group loans in the period were as follows: Term Loan B-2 Term Loan B Term Loan C Term Loan B-3 Seattle Loan B Euro Term Loan B Revolving Facility Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1, 2016 - 1,112,250 450,000 - - - 225,000 1,787,250 Repayments - (9,562 ) (37,500 ) - - - (325,000 ) (372,062 ) Draw downs - - - - - - 180,000 180,000 Transfer 1,515,188 (1,102,688 ) (412,500 ) - - - - - At April 30, 2017 1,515,188 - - - - - 80,000 1,595,188 Acquisitions - - - - 2,600,000 - - 2,600,000 Draw downs - - - 385,000 - 523,815 135,000 1,043,815 Repayments (11,364 ) - - (2,888 ) (19,500 ) (4,184 ) (215,000 ) (252,936 ) Foreign exchange - - - - - 10,846 - 10,846 At October 31, 2018 1,503,824 - - 382,112 2,580,500 530,477 - 4,996,913 |
Maturity of Borrowings | The maturity profile of the anticipated future cash flows including interest in relation to the Group’s borrowings on an undiscounted basis which, therefore, differs from both the carrying value and fair value, is as follows: As at October 31, 2018: Term Loan B-2 Term Loan B-3 Seattle Spinco Term Loan B Euro Term Loan B Revolving Facility Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Within one year 84,294 22,383 151,161 20,080 - 277,918 In one to two years 83,782 22,246 150,235 19,971 - 276,234 In two to three years 82,895 22,009 148,629 19,782 - 273,315 In three to four years 1,462,056 21,821 147,363 19,632 - 1,650,872 In four to five years - 21,634 146,097 19,483 - 187,214 In more than five years - 374,164 2,526,819 512,738 - 3,413,721 At October 31, 2018 1,713,027 484,257 3,270,304 611,686 - 6,079,274 As at April 30, 2017: Term Loan B-2 Revolving Facility Total $ ’000 $ ’000 $ ’000 Within one year 60,168 80,000 140,168 In one to two years 71,181 - 71,181 In two to three years 70,769 - 70,769 In three to four years 70,053 - 70,053 In four to five years 1,497,867 - 1,497,867 At April 30, 2017 1,770,038 80,000 1,850,038 |
Finance leases (Tables)
Finance leases (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Finance leases [Abstract] | |
Finance Lease Liabilities Minimum Lease Payments And Present Value | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Current 13,560 - Non-current 14,923 - 28,483 - Finance lease liabilities – minimum lease payments: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Within one year 15,136 - Between one and five years 15,984 - 31,120 - Future lease charges (2,637 ) - 28,483 - Finance lease liabilities – present value of minimum lease payments: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Within one year 13,560 - Between one and five years 14,923 - 28,483 - |
Current tax receivables, curr_2
Current tax receivables, current tax liabilities and non-current liabilities (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Current tax receivables, current tax liabilities and non-current liabilities [Abstract] | |
Current Tax Receivables | Current tax receivables October 31, 2018 April 30, 2017 $ ’000 $ ’000 Corporation tax 24,504 1,637 |
Current Tax Liabilities | Current tax liabilities October 31, 2018 April 30, 2017 $ ’000 $ ’000 Corporation tax 124,071 42,679 |
Non-Current Tax Liabilities | Non-current tax liabilities October 31, 2018 April 30, 2017 $ ’000 $ ’000 Corporation tax 131,048 - |
Deferred income - current (Tabl
Deferred income - current (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Deferred income - current [Abstract] | |
Deferred Income Current | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Deferred income 1,134,730 640,650 |
Deferred income - non-current (
Deferred income - non-current (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Deferred income - non-current [Abstract] | |
Deferred Income Non-Current | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Deferred income 178,064 223,786 |
Provisions (Tables)
Provisions (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Provisions [Abstract] | |
Provisions | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Onerous leases and dilapidations 35,105 16,243 Restructuring and integration 50,689 12,132 Legal 7,038 3,220 Other - 484 Total 92,832 32,079 Current 57,411 20,142 Non-current 35,421 11,937 Total 92,832 32,079 |
Provisions continuing operations and discontinued operation | Onerous Leases and dilapidations Restructuring and integration Legal Other Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1, 2017 16,243 12,132 3,220 484 32,079 Continuing operations: Acquisitions – HPE Software business (note 39) 11,321 21,398 36,446 - 69,165 Additional provision in the period 17,723 133,421 1,392 - 133,558 Released (3,890 ) (3,678 ) (4,733 ) (416 ) (12,717 ) Utilization of provision (5,590 ) (110,062 ) (29,263 ) (97 ) (145,012 ) Exchange adjustments (702 ) (2,522 ) (24 ) 29 (3,219 ) Discontinued operation: Additional provision in the period 2,835 205 - - 3,040 Reclassification of current assets classified as held for sale (note 19) (2,835 ) (205 ) - - (3,040 ) At October 31, 2018 35,105 50,689 7,038 - 92,832 Current 11,219 39,154 7,038 - 57,411 Non-current 23,886 11,535 - - 35,421 Total 35,105 50,689 7,038 - 92,832 Onerous leases and dilapidations Restructuring and integration Legal Other Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1, 2016 18,176 3,523 1,920 1,280 24,899 Additional provision in the period 4,584 48,498 98 501 53,681 Acquisitions (note 37) - 1,201 2,844 - 4,045 Utilization of provision (5,527 ) (37,712 ) (120 ) (117 ) (43,476 ) Released (857 ) (2,886 ) (1,492 ) (1,180 ) (6,415 ) Exchange adjustments (133 ) (492 ) (30 ) - (655 ) At April 30, 2017 16,243 12,132 3,220 484 32,079 Current 4,406 12,132 3,220 384 20,142 Non-current 11,837 - - 100 11,937 Total 16,243 12,132 3,220 484 32,079 |
Pension commitments (Tables)
Pension commitments (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Pension commitments [Abstract] | |
Defined Contribution Schemes | Pension costs for defined contributions schemes are as follows: 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 Continuing operations $ ’000 $ ’000 $ ’000 Defined contribution schemes (note 35) 43,241 10,875 10,363 1 The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Defined Benefit Schemes | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Within non-current assets: Long-term pension assets 16,678 22,031 Within non-current liabilities: Retirement benefit obligations (110,351 ) (30,773 ) |
Movement on Long-term Pension Asset | The movement on the long-term pension asset is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 As at May 1 22,031 22,272 Reclassification to assets held for sale (1,543 ) - Interest on non-plan assets (note 6) 633 404 Benefits paid (185 ) (110 ) Contributions 489 442 Included within other comprehensive income: - (6,065 ) - - 278 (2,134 ) - - 2,264 (5,787 ) 130 Foreign currency exchange (loss)/gain 1,040 (1,107 ) As at October 31 / April 30 16,678 22,031 Included within other comprehensive income: Continuing operations (5,258 ) 318 Discontinued operation (529 ) (188 ) (5,787 ) 130 |
Retirement Benefit Obligations | The following amounts have been included in the consolidated statement of comprehensive income for defined benefit pension arrangements: 18 months ended October 31, 2018 12 months 1 ended April 30, 2017 12 months 1 ended April 30, 2016 $ ’000 $ ’000 $ ’000 Current service charge 12,627 504 613 Past service credit (5,489 ) - - Charge to operating profit (note 35) 7,138 504 613 Current service charge – discontinued operations 268 121 147 Interest on pension scheme liabilities 5,253 660 546 Interest on pension scheme assets (2,430 ) (95 ) (79 ) Charge to finance costs (note 6) 2,823 565 467 Total charge to consolidated statement of comprehensive income 10,229 1,190 1,227 1 note 19 |
Movements in Equity | The following amounts have been recognized as movements in the statement of comprehensive income: 18 months ended October 31, 2018 12 months ended April 30, 2017 $ ’000 $ ’000 Actuarial return on assets excluding amounts included in interest income 621 9 Re-measurements – actuarial (gains) and losses: - Demographic 332 - - Financial (11,104 ) 2,821 - Experience 1,858 568 (8,914 ) 3,389 Reclassification from defined contribution scheme to defined benefit scheme (2,121 ) (2,996 ) Movement in the period / year (10,414 ) 402 Continuing operations (8,949 ) (217 ) Discontinued operation (1,465 ) 619 (10,414 ) 402 |
Weighted Average Key Assumptions Used for Valuation of Schemes | The weighted average key assumptions used for the valuation of the schemes were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Rate of increase in final pensionable salary 2.61 % 2.00 % Rate of increase in pension payments 1.99 % 2.00 % Discount rate 1.92 % 1.95 % Inflation 1.89 % 2.00 % |
Average Life Expectancy of Pensioner | These assumptions translate into an average life expectancy in years for a pensioner retiring at age 65: October 31, 2018 April 30, 2017 Retiring at age 65 at the end of the reporting period: Male 20 19 Female 23 23 Retiring 15 years after the end of the reporting period: Male 22 19 Female 25 24 |
Net Liability Arising from Obligations in Respect of Defined Benefit Schemes | The net liability included in the consolidated statement of financial position arising from obligations in respect of defined benefit schemes is as follows: October 31, 2018 April 30, 2017 Funded Unfunded Total Funded $ ’000 $ ’000 $ ’000 $ ’000 Present value of funded obligations 213,305 7,903 221,208 36,480 Fair value of plan assets (110,857 ) - (110,857 ) (5,707 ) 102,448 7,903 110,351 30,773 |
Movements in Defined Benefit Obligations | The defined benefit obligation has moved as follows: October 31, 2018 April 30, 2017 1 Defined Benefit Obligations Defined benefit obligations Scheme assets Retirement benefit obligations Defined benefit obligations Scheme assets Retirement benefit obligations $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At May 1 36,480 (5,707 ) 30,773 37,524 (5,855 ) 31,669 HPE Software business acquisition (note 39) 181,455 (110,010 ) 71,445 - - - Reclassification to assets held for sale (9,125 ) 3,595 (5,530 ) - - - Current service cost 12,895 - 12,895 625 - 625 Past service credit (5,489 ) - (5,489 ) Benefits paid (9,603 ) 9,406 (197 ) (197 ) 87 (110 ) Contributions by plan participants 2,547 (2,313 ) 234 - (114 ) (114 ) Contribution by employer - (4,012 ) (4,012 ) - - - Interest cost/(income) (note 6) 5,253 (2,430 ) 2,823 660 (95 ) 565 Included within other comprehensive income: Re-measurements - actuarial (gains) and losses: - Demographic (332 ) - (332 ) - - - - Financial 11,104 - 11,104 (2,821 ) - (2,821 ) - Experience (1,858 ) - (1,858 ) (568 ) - (568 ) Actuarial return on assets excluding amounts included in interest income - (621 ) (621 ) - (9 ) (9 ) Reclassification from defined contribution scheme to defined benefit scheme 5,472 (3,351 ) 2,121 2,996 - 2,996 14,386 (3,972 ) 10,414 (393 ) (9 ) (402 ) Foreign currency exchange changes (7,591 ) 4,586 (3,005 ) (1,739 ) 279 (1,460 ) At October 31 / April 30 221,208 (110,857 ) 110,351 36,480 (5,707 ) 30,773 1 The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Major Categories of Plan Assets | The major categories of the plan assets are as follows: October 31, 2018 April 30, 2017 Quoted Unquoted Total Unquoted $ ’000 $ ’000 $ ’000 $ ’000 Equity instruments 49,890 1,624 51,514 - Debt instruments 37,419 5,069 42,488 - Real estate 1,987 71 2,058 - Cash and cash equivalents - 2,325 2,325 - Re-insurance contracts with guaranteed interest rates* - 5,486 5,486 5,707 Other - 6,986 6,986 - Total 89,296 21,561 110,857 5,707 * The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. |
Sensitivity of Defined Benefit Obligation | The weighted average duration of the defined benefit obligation is 22 years. Change in assumption Change in defined benefit obligation Discount rate for scheme liabilities 0.50 % (10.5 %) Price inflation 0.25 % 2.9 % Salary growth rate 0.50 % 1.9 % |
Other non-current liabilities (
Other non-current liabilities (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Other non-current liabilities [Abstract] | |
Other Non-Current Liabilities | October 31, 2018 April 30, 2017 $ ’000 $ ’000 Accruals 58,011 4,191 58,011 4,191 |
Financial instruments (Tables)
Financial instruments (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Financial instruments [Abstract] | |
Values of Financial Assets and Liabilities | The table below sets out the values of financial assets and liabilities. Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Financial April 30, 2017 Non- financial April 30, 2017 Total April 30, 2017 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Financial assets Non-current Derivative financial instruments – Interest rate swaps (note 29) - 86,381 86,381 - - - Current Cash and cash equivalents (note 18) 620,896 - 620,896 150,983 - 150,983 Trade and other receivables (note 17) 1,212,067 59,966 1,272,033 263,626 25,883 289,509 1,832,963 146,347 1,979,310 414,609 25,883 440,492 Financial October 31, 2018 Non- financial October 31, 2018 Total October 31, 2018 Financial April 30, 2017 Non-financial April 30, 2017 Total April 30, 2017 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Financial liabilities – financial liabilities at amortized cost Non-current Borrowings (note 21 4,946,566 - 4,946,566 1,511,400 - 1,511,400 Finance leases (note 22) 14,923 - 14,923 - - - Provisions (note 26) 35,421 - 35,421 11,837 100 11,937 Current Borrowings (note 21) 50,347 - 50,347 83,788 - 83,788 Finance leases (note 22) 13,560 - 13,560 - - - Trade and other payables (note 20) 676,917 - 676,917 16,891 153,151 170,042 Provisions (note 26) 57,411 - 57,411 4,406 15,736 20,142 5,795,145 - 5,795,145 1,628,322 168,987 1,797,309 |
Maximum Exposure to Credit Risk | The maximum exposure to credit risk at October 31, 2018 was: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Trade receivables (note 17) 1,212,067 263,626 Cash and cash equivalents (note 18) 620,896 150,983 Total 1,832,963 414,609 |
Derivative Financial Instruments | Note 33 shows the derivative financial instruments relating to hedging transactions entered into in the period ended October 31, 2018 (other reserves). October 31, 2018 April 30, 2017 $ ’000 $ ’000 Carrying amount 86,381 - Notional amount (4 x $562.5m) 2,250,000 - Maturity date 30 September 2022 - Change in fair value of outstanding hedging instruments 86,381 - Change in value of hedged item adjusted for credit risk 84,666 - |
Sensitivity Analysis | The table below illustrates the sensitivity analysis of the group exposures to movements in currency and interest rates. Group exposure +/-5 % +/-10 % +/-1% interest Key aggregate currency exposures $ ’000 $ ’000 $ ’000 $ ’000 Euro 377,324 18,866 37,732 GBP 25,436 1,271 2,543 ILS 52,147 2,607 5,214 CAN$ 60,468 3,023 6,046 Borrowings Interest rate LIBOR +1% n/a n/a n/a 49,969 |
Capital Structure of Group at Statement of Financial Position Date | The capital structure of the Group at the consolidated statement of financial position date is as follows: October 31, 2018 April 30, 2017 $ ’000 $ ’000 Bank and other borrowings (note 21) 4,845,880 1,561,536 Finance lease obligations (note 22) 28,483 - Less cash and cash equivalents (note 18) (620,896 ) (150,983 ) Total net debt 4,253,467 1,410,553 Total equity 7,791,980 1,613,490 Debt/equity % 54.59 % 87.42 % |
Deferred tax (Tables)
Deferred tax (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Deferred tax [Abstract] | |
Net Deferred Tax Liability | October 31, 2018 April 30, 2017 Note $ ’000 $ ’000 Net Deferred tax liability At May 1 (118,478 ) (65,281 ) (Debited)/credited to consolidated statement of comprehensive income: (17,171 ) 26,871 - Continuing operations 7 (27,634 ) 26,871 - Discontinued operations 10,463 - Credited directly to equity in relation to share options (23,724 ) 22,996 Debited to other comprehensive income in relation to pensions: 4,281 (325 ) - Continuing operations 3,754 (62 ) - Discontinued operations 527 (263 ) Acquisition of subsidiaries 39 (1,957,343 ) (97,615 ) Acquisition of subsidiaries – Serena Software - (96,203 ) Acquisition of subsidiaries – GWAVA - (1,412 ) Acquisition of subsidiaries – HPE Software business (1,953,453 ) - Acquisition of subsidiaries – COBOL-IT (3,890 ) - Foreign exchange adjustment 11,667 (6,415 ) Reclassification to current assets held for sale 19 (1,586 ) - Effect of change in tax rates – charged to consolidated statement of comprehensive income 931,865 1,291 At October 31 / April 30 (1,170,489 ) (118,478 ) |
Deferred Tax Assets | Deferred tax assets and liabilities presented below and in the consolidated statement of financial position have been revised to present such assets and liabilities net where there is a legally enforceable right to offset and the intention to settle on a net basis. Tax losses Share based payments Deferred revenue Prepaid royalty Tax credits Intangible fixed assets Other temporary differences Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Deferred tax assets At May 1, 2016 50,949 22,767 37,962 - 53,660 6,496 26,923 198,757 Acquisition of subsidiaries (note 39) 10,619 - 2,471 - 152 - 2,105 15,347 (Charged)/credited to consolidated statement of comprehensive income (4,894 ) 4,405 4,057 - (20,024 ) (609 ) (4,964 ) (22,029 ) Credited directly to equity - 22,996 - - - - 22,996 Debited to other comprehensive income - - - - - - (325 ) (325 ) Foreign exchange adjustment - (6,415 ) - - - - - (6,415 ) Effect of change in tax rates – credited to consolidated statement of comprehensive income - (78 ) - - - - - (78 ) Subtotal 56,674 43,675 44,490 - 33,788 5,887 23,739 208,253 Jurisdictional offsetting (208,253 ) At April 30, 2017 - At May 1, 2017 56,674 43,675 44,490 - 33,788 5,887 23,739 208,253 Acquisition of subsidiaries - HPE Software business (note 39) 4,524 - (36,468 ) 332,036 39,030 - 43,601 382,723 (Charged)/credited to consolidated statement of comprehensive income – continuing operations (13,510 ) 110 45,158 (201,355 ) (46,114 ) (825 ) 14,126 (202,410 ) Credited directly to equity - (23,724 ) - - - - - (23,724 ) Debited to other comprehensive income - - - - - - 4,281 4,281 Foreign exchange adjustment - (320 ) - - - - - (320 ) Reclassification to current assets held for sale - - - - - - (1,586 ) (1,586 ) Effect of change in tax rates – credited to consolidated statement of comprehensive income (21,129 ) (2,319 ) 66,673 (88,770 ) 2,957 (2,025 ) (13,336 ) (57,949 ) Subtotal 26,559 17,422 119,853 41,911 29,661 3,037 70,825 309,268 Jurisdictional offsetting (309,268 ) At October 31, 2018 - |
Unrecognize Deferred Tax Assets in Relation to Gross Temporary Differences | The Group did not recognize deferred tax assets in relation to the following gross temporary differences, the expiration of which is determined by the tax law of each jurisdiction: Expiration: 2019 2020 2021 2022 2023 Thereafter No expiry Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At October 31, 2018 Type of temporary difference: Losses 35,233 66,078 99,168 37,529 33,574 2,117,700 95,578 2,484,860 Credits 2,174 4,420 3,959 2,360 1,267 5,210 196,350 215,740 Other 1,859 1 - - - - 47,718 49,578 Total 39,266 70,499 103,127 39,889 34,841 2,122,910 339,646 2,750,178 Expiration: 2018 2019 2020 2021 2022 Thereafter No expiry Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 At April 30, 2017 Type of temporary difference: Losses 1,107 635 972 - - - 19,773 22,487 Credits 2,131 2,147 1,909 2,138 1,334 5,583 8,338 23,580 Other - - - - - - 23,859 23,859 Total 3,238 2,782 2,881 2,138 1,334 5,583 51,970 69,926 |
Deferred Tax Liabilities | Note Intangible fixed assets Other temporary differences Total $ ’000 $ ’000 $ ’000 Deferred tax liabilities At May 1, 2016 (255,158 ) (8,880 ) (264,038 ) Acquisition of subsidiaries 39 (110,334 ) (2,628 ) (112,962 ) Charged/(credited) to consolidated statement of comprehensive income 52,438 (3,538 ) 48,900 Effect of change in tax rates – charged to consolidated statement of comprehensive income 1,369 - 1,369 Subtotal (311,685 ) (15,046 ) (326,731 ) Jurisdictional offsetting 208,253 At April 30, 2017 (118,478 ) At May 1, 2017 (311,685 ) (15,046 ) (326,731 ) Acquisition of subsidiaries – HPE Software business 39 (2,324,060 ) (12,116 ) (2,336,176 ) Acquisition of subsidiaries – COBOL-IT 39 (3,890 ) - (3,890 ) Charged/(credited) to consolidated statement of comprehensive income – continuing operations 186,787 (12,011 ) 174,776 Charged/(credited) to consolidated statement of comprehensive income – discontinued operations 10,463 - 10,463 Foreign exchange adjustment 11,987 - 11,987 Effect of change in tax rates – charged to consolidated statement of comprehensive income 981,955 7,858 989,814 (1,448,443 ) (31,315 ) (1,479,757 ) Jurisdictional offsetting 309,268 At October 31, 2018 (1,170,489 ) |
Share capital (Tables)
Share capital (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Share capital [Abstract] | |
Capital Structure | Ordinary shares at 10 pence each as at October 31, 2018 (April 30, 2017: 10 pence each; April 30, 2016: 10 pence each) October 31, 2018 April 30, 2017 April 30, 2016 Shares $ ’000 Shares $ ’000 Shares $ ’000 Issued and fully paid At May 1 229,674,479 39,700 228,706,210 39,573 228,587,397 39,555 Shares issued to satisfy option awards 1,894,673 251 968,269 127 118,313 18 Share reorganization (16,935,536 ) (2,926 ) - - 500 - Shares issued relating to acquisition of HPE Software business (note 39) 222,166,897 28,773 - - - - At October 31 / April 30 436,800,513 65,798 229,674,479 39,700 228,706,210 39,573 “B” shares at 168 pence each October 31, 2018 April 30, 2017 April 30, 2016 Shares $ ’000 Shares $ ’000 Shares $ ’000 Issued and fully paid At May 1 - - - - - - Issue of B shares 229,799,802 500,000 - - - - Redemption of B shares (229,799,802 ) (500,000 ) - - - - At October 31 / April 30 - - - - - - |
Share premium account (Tables)
Share premium account (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Share premium account [Abstract] | |
Share Premium Account | October 31, 2018 April 31, 2017 April 31, 2016 $ ’000 $ ’000 $ ’000 At May 1 192,145 190,293 16,087 Share placement issues - 176,235 Share placement costs - (2,979 ) Issue and redemption of B shares (note 31) (156,683 ) - - Movement in relation to share options exercised (note 35) 5,499 1,852 950 At October 31 / April 30 40,961 192,145 190,293 |
Other reserves (Tables)
Other reserves (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Other reserves [Abstract] | |
Other reserves | Capital redemption reserve Merger reserve Hedging reserve Total $ ’000 $ ’000 $ ’000 $ ’000 As at May 1, 2015 163,363 1,168,104 - 1,331,467 Reallocation of merger reserve 1 - (180,000 ) - (180,000 ) As at May 1, 2016 163,363 988,104 - 1,151,467 Reallocation of merger reserve 1 - (650,000 ) - (650,000 ) As at April 30, 2017 163,363 338,104 - 501,467 As at May 1, 2017 163,363 338,104 - 501,467 Return of Value- share consolidation 2 2,926 - - 2,926 Return of Value- issue and redemption of B shares 2 500,000 (343,317 ) - 156,683 Hedge accounting (note 29) 3 - - 86,381 86,381 Deferred tax movement on hedging 3 - - (16,413 ) (16,413 ) Acquisition of the HPE Software business 4 - 6,485,397 - 6,485,397 Reallocation of merger reserve 1 - (2,755,800 ) - (2,755,800 ) As at October 31, 2018 666,289 3,724,384 69,968 4,460,641 1 The Company has transferred amounts from the merger reserve to retained earnings pursuant to the UK company law. The parent company previously transferred the investment in The Attachmate Group (“TAG”) to a wholly owned subsidiary for an intercompany receivable in the amount of $1,373m. During the period, the parent company also transferred the investment in the HPE Software business to a wholly owned subsidiary in exchange for an intercompany receivable. An amount of $2,755.8m has been transferred from the merger reserve to retained earnings (April 30, 2017: $650.0m; April 30, 2016: $180.0m). It therefore meets the definition of qualifying consideration and is available for dividend distribution to the parent company’s shareholders. 2 3 4 note 39 |
Non-controlling interests (Tabl
Non-controlling interests (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Non-controlling interests [Abstract] | |
Disclosure of non-controlling interests | These transactions increased the Group’s shareholding from 74.7% to 81.05%. October 31, 2018 April 30, 2017 April 30, 2016 $ ’000 $ ’000 $ ’000 At May 1 954 1,057 979 Share of (loss)/profit after tax 85 (103 ) 78 At April 30 1,039 954 1,057 |
Non-controlling interests | Non-controlling interests relate to the companies detailed below: Company name Country of incorporation and principal place of business October 31, 2018 Proportion held April 30, 2017 Proportion held April 30, 2016 Proportion held Novell Japan Ltd Japan 81.05 % 74.7 % 71.5 % |
Employees and directors (Tables
Employees and directors (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Employees and directors [Abstract] | |
Staff costs | 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Staff costs Wages and salaries 1,819,251 382,482 342,957 Redundancy and termination costs (non-exceptional) 2,102 2,115 3,722 Social security costs 159,009 53,215 45,584 Other pension costs 50,379 11,379 10,976 Cost of employee share schemes 64,284 31,463 26,254 Total 2,095,025 480,654 429,493 1 The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Pension costs | 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Pension costs comprise: Defined benefit schemes (note 27) 7,138 504 613 Defined contribution schemes (note 27) 43,241 10,875 10,363 Total 50,379 11,379 10,976 1 The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Average monthly number of people employed by the group | 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 Number Number $ ’000 Average monthly number of people (including executive directors) employed by the Group: Continuing Operations Sales and distribution 5,860 1,818 1,692 Research and development 4,323 1,400 1,301 General and administration 1,378 642 582 11,561 3,860 3,575 Discontinued Operations Sales and distribution 515 323 266 Research and development 629 476 375 General and administration 8 4 2 1,152 803 643 Total Sales and distribution 6,375 2,141 1,958 Research and development 4,952 1,876 1,676 General and administration 1,386 646 584 Total 12,713 4,663 4,218 |
Key management compensation | 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Key management compensation Short-term employee benefits 25,893 8,051 9,297 Share based payments 44,497 9,391 10,146 Total 70,390 17,442 19,443 |
Directors | Directors’ remuneration is shown below. 18 months ended October 31, 2018 12 months ended April 30, 2017 12 months ended April 30, 2016 $ ’000 $ ’000 $ ’000 Directors Aggregate emoluments 14,583 5,227 3,612 Aggregate gains made on the exercise of share options 77,719 8,166 3,764 Company contributions to money purchase pension scheme 749 463 228 Total 93,051 13,856 7,604 Director Number of granted and cancelled nil cost share options over Ordinary Shares Number of replacement nil cost options over Ordinary Shares ‘000 ‘000 Kevin Loosemore 1,100 1,100 Stephen Murdoch 500 947 Chris Kennedy 1 500 676 Mike Phillips 676 676 Nils Brauckmann 500 500 3,276 3,899 1 The share options awarded to Chris Kennedy’s replacement HPE Software ASGs will lapse as a result of his resignation and subsequent leaving employment in February 2019. This has been reflected in the share options disclosures. |
Share-based payment | The tables below for each type of share option are presented on a total Group basis only. 18 months ended October 31, 2018 12 months ended April 30, 2017 1 12 months ended April 30, 2016 1 $ ’000 $ ’000 $ ’000 Share based compensation – IFRS 2 charge 70,921 20,798 17,355 Employer taxes (6,637 ) 10,665 8,899 64,284 31,463 26,254 1 The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Incentive Plan 2005 [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighted average exercise prices of share options | 18 months ended October 31, 2018 12 months ended April 30, 2017 Number of Options ‘000 Weighted average exercise price pence Number of Options ‘000 Weighted average exercise price pence Outstanding at May 1 4,662 29 5,186 41 Exercised (1,283 ) 12 (1,008 ) 85 Forfeited (582 ) 3 (120 ) 14 Granted 2,823 - 604 6 Outstanding at October 31 / April 30 5,620 14 4,662 29 Exercisable at October 31 / April 30 2,270 51 1,261 92 |
Weighted average remaining contractual life of outstanding share options | October 31, 2018 April 30, 2017 Weighted average exercise price Number of options Weighted average remaining contractual Weighted average exercise price Number of options Weighted average remaining contractual Range of exercise prices pence ‘000 life (years) pence ‘000 life (years) £0.10 or less 1 5,127 6.7 4 3,856 7.4 £0.11 – £1.00 13 205 4.9 13 506 6.6 £1.01 – £2.00 - - - - - - £2.01 – £3.00 - - - 281 5 0.5 £3.01 - £4.00 358 146 0.7 358 146 2.2 More than £4.00 402 142 1.7 402 149 3.2 14 5,620 4.0 29 4,662 7.0 |
Disclosure of significant input of share based payments | The significant inputs into the model for the 18 months ended October 31, 2018 were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Weighted average share price at the grant date £ £ Expected volatility between 28.59% and 48.54% between 26.96% and 27.98% Expected dividend yield between 2.82% and 7.02% between 2.70% and 3.10% Expected option life three years three years Annual risk-free interest rate between 1.0% and 1.6% between 0.71% and 1.09% |
Additional Share Grants [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighted average exercise prices of share options | 18 months ended October 31, 2018 12 months ended April 30, 2017 Number Of Options Weighted average exercise price Number of Options Weighted average exercise price ‘000 pence ‘000 pence Outstanding at May 1 3,262 - 3,262 - Exercised (200 ) - - - Lapsed (2,412 ) - - - Cancelled (3,276 ) - - - Granted 13,115 - - - Outstanding at October 31 / April 30 10,489 - 3,262 - Exercisable at October 31 / April 30 3,062 - 3,062 - |
Weighted average remaining contractual life of outstanding share options | October 31, 2018 April 30, 2017 Weighted average exercise price Number of Options Weighted average remaining contractual Weighted average exercise price Number of Options Weighted average remaining contractual Range of exercise prices pence ‘000 life (years) pence ‘000 life (years) £0.00 - 10,489 5.5 - 3,262 7.6 - 10,489 5.5 - 3,262 7.6 |
Disclosure of significant input of share based payments | The significant inputs into the model for the 18 months ended October 31, 2018 were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Weighted average share price at the grant date £ £ Expected volatility Between 28.00% - 31.00% Between 25.81% - 26.11% Expected dividend yield Between 3.26% - 5.29% Between 2.90% - 3.30% Expected option life 1.96 years 3 years Annual risk-free interest rate Between 0.43% - 0.84% Between 1.71% - 2.08% |
Sharesave Plan and Employee Stock Purchase Plan 2006 [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Weighted average exercise prices of share options | Further Sharesave and ESPP grants were made during the 18 months to October 31, 2018. 18 months ended October 31, 2018 12 months ended April 30, 2017 Number of Options Weighted average exercise price Number Of Options Weighted average exercise price Sharesave ‘000 pence ‘000 pence Outstanding at May 1 559 1,039 544 862 Exercised (294 ) 829 (90 ) 618 Forfeited (223 ) 1,508 (28 ) 1,001 Granted 454 1,293 133 1,466 Outstanding 496 1,185 559 1,039 Exercisable 47 1,116 - - Number of Options ‘000 Date of grant Exercise price per share pence Exercise period 1 February 10, 2015 838.4 April 1, 2018 – September 30, 2018 46 August 7, 2015 1,112.0 October 1, 2018 – March 31, 2019 40 February 9, 2016 1,200.0 April 1, 2019 – September 30, 2019 80 August 12, 2016 1,465.6 October 1, 2019 – February 1, 2020 43 February 23, 2018 1,720.0 April 1, 2021 – September 30, 2021 264 August 3, 2018 1,023.0 October 1, 2021 – March 31, 2022 22 August 3, 2018 1,159.0 October 1, 2021 – April 1, 2022 496 18 months ended October 31, 2018 12 months ended April 30, 2017 Number of Options Weighted Average exercise price Number of Options Weighted average exercise price ESPP ‘000 pence ‘000 pence At May 1 124 1,510 272 1,080 Exercised (110 ) 1,598 (93 ) 998 Forfeited (32 ) 1,236 (142 ) 1,220 Granted 817 1,057 87 1,836 Outstanding 800 1,047 124 1,510 Exercisable - 1,021 - - Number of Options ‘000 Date of grant Exercise price per share pence Exercise period 19 October 1, 2016 1,875.6 October 1, 2018 – December 31, 2018 337 March 1, 2018 1,235.6 March 1, 2020 – May 31, 2020 444 July 1, 2018 868.5 July 1, 2020 – September 30, 2020 800 |
Disclosure of significant input of share based payments | The significant inputs into the model for the 18 months ended October 31, 2018 were: 18 months ended October 31, 2018 12 months ended April 30, 2017 Weighted average share price at the grant date £ £ Expected volatility between 28.82% - 48.60% 26.95 % Expected dividend yield between 3.86% - 7.02% 2.60 % Expected option life two or three years two or three years Annual risk-free interest rate between 1.3% - 1.5% 0.61 % |
Operating lease commitments -_2
Operating lease commitments - minimum lease payments (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Operating lease commitments - minimum lease payments [Abstract] | |
Future Minimum Lease Payments under Non-cancellable Operating Leases | At October 31, 2018 the Group has a number of lease agreements in respect of properties, vehicles, plant and equipment, for which the payments extend over a number of years. October 31, 2018 April 30, 2017 $ ’000 $ ’000 Future minimum lease payments under non-cancellable operating leases expiring: No later than one year 65,831 28,330 Later than one year and no later than five years 139,695 85,008 Later than five years 22,503 28,749 Total 228,029 142,087 |
Business combinations (Tables)
Business combinations (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Disclosure of detailed information about business combination [line items] | |
Summary of Acquisitions | Summary of acquisitions Consideration Carrying value at acquisition Fair value Goodwill Shares Cash Total $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 $ ’000 Acquisitions in the 18 months ended October 31, 2018: HPE Software business (2,487,916 ) 4,143,712 4,858,374 6,514,170 - 6,514,170 COBOL-IT (2,952 ) 14,026 5,588 - 16,662 16,662 (2,490,868 ) 4,157,738 4,863,962 6,514,170 16,662 6,530,832 Acquisitions in the 12 months ended April 30, 2017: Serena Software Inc. 147,260 (249,306 ) 379,669 - 277,623 277,623 GWAVA Inc. 618 3,062 12,767 - 16,447 16,447 OpenATTIC - 4,991 - - 4,991 4,991 OpenStack - - - - - - 147,878 (241,253 ) 392,436 - 299,061 299,061 Acquisitions in the 12 months ended April 30, 2016: Authasas BV 1,110 10 8,840 - 9,960 9,960 (2,341,880 ) 3,916,495 5,265,238 6,514,170 325,683 6,839,853 |
HPE Software Business [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value Adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets (note 11) 1 72,825 6,467,000 6,539,825 Property, plant and equipment (note 12) 160,118 - 160,118 Other non-current assets 41,929 - 41,929 Inventories 185 - 185 Trade and other receivables 721,009 - 721,009 Current tax recoverable 496 - 496 Cash and cash equivalents 320,729 - 320,729 Trade and other payables (686,855 ) 1,616 (685,239 ) Current tax liabilities (9,942 ) - (9,942 ) Borrowings (2,547,604 ) - (2,547,604 ) Short-term provisions (30,182 ) - (30,182 ) Short-term deferred income (note 24) 2 (701,169 ) 58,004 (643,165 ) Long-term deferred income ( 2 (116,858 ) 8,652 (108,206 ) Long-term provisions (note 26) (38,983 ) - (38,983 ) Retirement benefit obligations (note 27) (71,445 ) - (71,445 ) Other non-current liabilities (52,421 ) 12,145 (40,276 ) Deferred tax liabilities 3 450,252 (2,403,705 ) (1,953,453 ) Net (liabilities)/assets (2,487,916 ) 4,143,712 1,655,796 Goodwill (note 10) - 4,858,374 Consideration 6,514,170 Consideration satisfied by: Shares 6,514,170 The fair value adjustments include: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of the HPE Software business 2 Deferred income has been valued taking account of the remaining performance obligations; 3 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 11): Fair value $ ’000 Technology 1,809,000 Customer relationships 4,480,000 Trade names 163,000 Leases 15,000 6,467,000 |
Serena Software, Inc. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Goodwill 462,400 (462,400 ) - Intangible assets - purchased 1 - 317,700 317,700 Intangible assets - other 79 - 79 Property, plant and equipment 1,927 - 1,927 Other non-current assets 167 - 167 Deferred tax asset 15,347 - 15,347 Trade and other receivables 27,362 - 27,362 Cash and cash equivalent 65,784 - 65,784 Borrowings – short-term (27,712 ) - (27,712 ) Trade and other payables (11,766 ) - (11,766 ) Provisions – short-term (4,045 ) - (4,045 ) Current tax liabilities (3,173 ) - (3,173 ) Deferred income – short-term 2 (72,217 ) 3,761 (68,456 ) Deferred income – long-term 2 (14,853 ) 798 (14,055 ) Borrowings – long-term (288,938 ) - (288,938 ) Other non-current liabilities (717 ) - (717 ) Deferred tax liabilities 3 (2,385 ) (109,165 ) (111,550 ) Net assets /(liabilities) 147,260 (249,306 ) (102,046 ) Goodwill (note 10) 379,669 Consideration 277,623 Consideration satisfied by: Cash 277,623 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Serena; 2 Deferred income has been valued taking account of the remaining performance obligations; and 3 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 11): Fair value $ ’000 Technology 86,100 Customer relationships 210,200 Trade names 21,400 317,700 |
GWAVA Inc. [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets - purchased 1 - 5,330 5,330 Intangible assets - other 2 1,180 (1,180 ) - Property, plant and equipment 195 - 195 Trade and other receivables 3,096 - 3,096 Cash and cash equivalent 2,389 - 2,389 Trade and other payables (1,331 ) - (1,331 ) Deferred income – short-term 3 (4,094 ) 324 (3,770 ) Deferred income – long-term (817 ) - (817 ) Deferred tax liabilities 4 - (1,412 ) (1,412 ) Net assets 618 3,062 3,680 Goodwill (note 10) 12,767 Consideration 16,447 Consideration satisfied by: Cash 16,447 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of GWAVA Inc.; 2 Other intangible assets relating to historic IP has been written down to nil; 3 Deferred income has been valued taking account of the remaining performance obligations; and 4 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows (note 10): Fair value $ ’000 Technology 4,075 Customer relationships 544 Trade names 711 5,330 |
OpenATTIC [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets – purchased technology - 4,991 4,991 Net assets - 4,991 4,991 Goodwill - Consideration 4,991 Consideration satisfied by: Cash 4,991 |
Authasas BV [Member] | |
Disclosure of detailed information about business combination [line items] | |
Details of Net Assets (Liabilities) Acquired and Goodwill | Details of the net assets acquired and goodwill are as follows: Carrying value at acquisition Fair value adjustments Fair value $ ’000 $ ’000 $ ’000 Intangible assets - purchased 1 - 3,356 3,356 Intangible assets - other 2 1,973 (1,973 ) - Property, plant and equipment 14 - 14 Inventory 11 - 11 Deferred tax asset 3 339 (339 ) - Trade and other receivables 463 - 463 Cash and cash equivalent 106 - 106 Trade and other payables 4 (1,796 ) (68 ) (1,864 ) Deferred tax liabilities 5 - (966 ) (966 ) Net assets 1,110 10 1,120 Goodwill 8,840 Consideration 9,960 Consideration satisfied by: Cash 9,960 The fair value adjustments relate to: 1 Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Authasas BV; 2 Other intangible assets relating to product development costs have been written down to nil; 3 The deferred tax asset on acquisition has been written down to nil; 4 Deferred income has been valued taking account of the remaining performance obligations; 5 A deferred tax liability has been established relating to the purchase of intangibles. |
Analysis of Purchased Intangible Assets Acquired | The purchased intangible assets acquired as part of the acquisition can be analyzed as follows : Fair value $ ’000 Technology 2,545 Customer relationships 811 3,356 |
Cash Flow Statement (Tables)
Cash Flow Statement (Tables) | 18 Months Ended |
Oct. 31, 2018 | |
Cash Flow Statement [Abstract] | |
Cash Flow Statement | Note 18 months ended October 31, 2018 $’000 12 months ended April 30, 2017 1 $’000 12 months ended April 30, 2016 1 $’000 Cash flows from operating activities Profit from continuing operations 707,193 124,083 135,979 Profit from discontinued operation 76,940 33,720 26,993 Profit for the period 784,133 157,803 162,972 Adjustments for: Net interest 6 342,712 95,845 97,348 Taxation 7 (638,875 ) 38,541 32,424 Share of results of associates 1,809 1,254 2,190 Operating profit 489,779 293,443 294,934 Research and development tax credits (2,013 ) (2,998 ) (2,041 ) Depreciation 12 95,179 11,794 11,419 Loss on disposal of property, plant and equipment 4,581 520 109 Amortization of intangible assets 11 943,210 236,434 203,313 Share-based compensation charge 35 72,175 34,506 28,793 Exchange movements (34,505 ) (4,890 ) (2,915 ) Provisions movements 26 142,859 47,266 12,985 Changes in working capital: Inventories 35 29 28 Trade and other receivables (408,879 ) 10,224 (49,175 ) Payables and other liabilities 131,333 (33,252 ) 30,923 Provision utilization 26 (145,012 ) (43,476 ) (55,639 ) Deferred income 131,477 15,375 (16,603 ) Pension funding in excess of charge to operating profit 4,092 (183 ) (18 ) Cash generated from operations 1,424,311 564,792 456,113 1 30 |
General information (Details)
General information (Details) | Oct. 31, 2018EmployeeCountry | Apr. 30, 2017EmployeeCountry | Apr. 30, 2016EmployeeCountry |
General information [Abstract] | |||
Number of countries located in | Country | 49 | 40 | 39 |
Number of employees | Employee | 14,800 | 4,800 | 4,200 |
Significant Accounting polici_4
Significant Accounting policies, Basis of preparation and Consolidation (Details) $ in Thousands | 2 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | 18 Months Ended | |
Jun. 06, 2016 | Mar. 31, 2017 | Apr. 30, 2017USD ($) | Apr. 30, 2017USD ($)ShareholderBoardMember | Apr. 30, 2016USD ($)ShareholderBoardMember | Oct. 31, 2018USD ($)ShareholderBoardMember | |
Basis of Preparation [Abstract] | ||||||
Deferred tax assets | $ 208,253 | $ 208,253 | $ 198,757 | $ 309,268 | ||
Deferred tax liabilities | 326,731 | 326,731 | $ 264,038 | 1,479,757 | ||
Impact of jurisdictional netting, non-current assets | (208,253) | (309,268) | ||||
Impact of jurisdictional netting, non-current liabilities | 208,253 | 309,268 | ||||
Associates [abstract] | ||||||
Assets classified as held for sale | 0 | 0 | 1,142,451 | |||
Investment in associates | $ 11,457 | $ 11,457 | $ 0 | |||
Open Invention Network LLC [Member] | ||||||
Associates [abstract] | ||||||
Interest held | 14.30% | 12.50% | 12.50% | 12.50% | 14.30% | 12.50% |
Assets classified as held for sale | $ 9,600 | |||||
Investment in associates | $ 11,457 | $ 11,457 | $ 12,711 | $ 0 | ||
Number of equal shareholders | Shareholder | 8 | 7 | 8 | |||
Number of board member each shareholder | BoardMember | 1 | 1 | 1 | |||
Number of alternative board member each shareholder | BoardMember | 1 | 1 | 1 | |||
Novell Japan Ltd [Member] | ||||||
Subsidiaries [abstract] | ||||||
Ownership interest | 74.70% | 71.50% | 81.05% |
Significant Accounting polici_5
Significant Accounting policies, Revenue Recognition (Details) | 18 Months Ended |
Oct. 31, 2018 | |
Revenue recognition [Abstract] | |
Maintenance revenue, term of contract | 1 year |
Significant Accounting polici_6
Significant Accounting policies, Exchange Rates (Details) | 12 Months Ended | 18 Months Ended | |||||||||||||||||||||
Apr. 30, 2017$ / ₪ | Apr. 30, 2017$ / ₪$ / £ | Apr. 30, 2017$ / ₪$ / € | Apr. 30, 2017$ / ₪$ / $ | Apr. 30, 2016$ / ₪ | Apr. 30, 2016$ / ₪$ / £ | Apr. 30, 2016$ / ₪$ / € | Apr. 30, 2016$ / ₪$ / $ | Oct. 31, 2018$ / ₪ | Oct. 31, 2018$ / ₪$ / £ | Oct. 31, 2018$ / ₪$ / € | Oct. 31, 2018$ / ₪$ / $ | Oct. 31, 2018$ / £ | Oct. 31, 2018$ / € | Oct. 31, 2018$ / $ | Apr. 30, 2017$ / £ | Apr. 30, 2017$ / € | Apr. 30, 2017$ / $ | Apr. 30, 2016$ / £ | Apr. 30, 2016$ / € | Apr. 30, 2016$ / $ | |||
Exchange rates [Abstract] | |||||||||||||||||||||||
Average | 0.26 | 1.29 | [1] | 1.09 | 0.76 | 0.26 | 1.50 | [1] | 1.11 | 0.77 | 0.28 | 1.33 | 1.18 | 0.78 | |||||||||
Closing | 0.28 | 0.28 | 0.28 | 0.28 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 0.27 | 1.27 | 1.14 | 0.76 | 1.29 | 1.09 | 0.73 | 1.46 | 1.14 | 0.80 | ||
[1] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Significant Accounting polici_7
Significant Accounting policies, Intangible Assets (Details) | 18 Months Ended |
Oct. 31, 2018 | |
Computer Software [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Computer Software [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 5 years |
Research and Development [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Purchased Software [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Purchased Software [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 5 years |
Technology [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Technology [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 12 years |
Trade Names [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 3 years |
Trade Names [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 20 years |
Customer Relationships [Member] | Bottom of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 2 years |
Customer Relationships [Member] | Top of Range [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 15 years |
Lease Contracts [Member] | |
Intangible assets [Abstract] | |
Estimated useful lives | 5 years 6 months |
Significant Accounting polici_8
Significant Accounting policies, Property, Plant and Equipment (Details) | 18 Months Ended |
Oct. 31, 2018 | |
Buildings [member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 30 years |
Leasehold Improvements [Member] | Bottom of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 3 years |
Leasehold Improvements [Member] | Top of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 10 years |
Fixtures and Fittings [Member] | Bottom of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 2 years |
Fixtures and Fittings [Member] | Top of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 7 years |
Computer Equipment [Member] | Bottom of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 1 years |
Computer Equipment [Member] | Top of Range [Member] | |
Property, plant and equipment [Abstract] | |
Estimated useful lifes | 5 years |
Significant Accounting polici_9
Significant Accounting policies, Adoption of New and Revised International Financial Reporting Standards (Details) $ in Millions | 18 Months Ended |
Oct. 31, 2018USD ($) | |
Cost of Obtaining Customer Contracts [Abstract] | |
Customer life | 5 years |
Top of Range [Member] | |
Cost of Obtaining Customer Contracts [Abstract] | |
Sales commission's expected amortization period | 1 year |
Increase / (Decrease) in Opening Retained Earnings [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | $ 71 |
Increase / (Decrease) in Opening Retained Earnings [Member] | Cost of Obtaining Customer Contracts [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 66 |
Increase / (Decrease) in Opening Retained Earnings [Member] | Rebillable Expenses [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 0 |
Increase / (Decrease) in Opening Retained Earnings [Member] | Consideration Payable to customer [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 5 |
Estimated Increase / (Decrease) in Revenue [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 25 |
Estimated Increase / (Decrease) in Revenue [Member] | Cost of Obtaining Customer Contracts [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 0 |
Estimated Increase / (Decrease) in Revenue [Member] | Rebillable Expenses [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 2 |
Estimated Increase / (Decrease) in Revenue [Member] | Consideration Payable to customer [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 23 |
Estimated Increase / (Decrease) in Operating Expenses [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 5 |
Estimated Increase / (Decrease) in Operating Expenses [Member] | Cost of Obtaining Customer Contracts [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | (20) |
Estimated Increase / (Decrease) in Operating Expenses [Member] | Rebillable Expenses [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 2 |
Estimated Increase / (Decrease) in Operating Expenses [Member] | Consideration Payable to customer [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 23 |
Estimated Increase in Profit Before Tax [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 20 |
Estimated Increase in Profit Before Tax [Member] | Cost of Obtaining Customer Contracts [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 20 |
Estimated Increase in Profit Before Tax [Member] | Rebillable Expenses [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | 0 |
Estimated Increase in Profit Before Tax [Member] | Consideration Payable to customer [Member] | |
Estimated Impact [Abstract] | |
Estimated impact | $ 0 |
SUSE [Member] | |
Cost of Obtaining Customer Contracts [Abstract] | |
Customer life | 6 years |
Significant Accounting polic_10
Significant Accounting policies, Critical Accounting Estimates and Assumptions (Details) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2016USD ($) | Apr. 30, 2015USD ($) | Oct. 31, 2018USD ($)Swap | Sep. 01, 2017USD ($) | Apr. 30, 2017USD ($) | |
Provision for Bad Debt [Abstract] | |||||
Bad debt provision | $ 4,486 | $ 41,860 | $ 2,599 | ||
Foreign currency risk [Abstract] | |||||
Foreign currency hedging transactions | $ 0 | 0 | |||
Interest rate risk [Abstract] | |||||
Number of interest rate swaps | Swap | 4 | ||||
Detailed information about borrowings [Abstract] | |||||
Borrowings | $ 4,845,880 | 1,561,536 | |||
Current borrowings | $ 3,702 | 71,184 | |||
Bottom of Range [Member] | |||||
Detailed information about borrowings [Abstract] | |||||
Onerous lease provisions expected maturity period | 12 months | ||||
Top of Range [Member] | |||||
Detailed information about borrowings [Abstract] | |||||
Onerous lease provisions expected maturity period | 9 years | ||||
Trade Receivables [Member] | |||||
Provision for Bad Debt [Abstract] | |||||
Debtors written off as uncollectable | 2,000 | $ 2,000 | |||
Period of increase in debtor ageing DSO days | 94 days | ||||
Bad debt provision | $ 41,860 | ||||
Trade receivables | $ 1,089,600 | ||||
Percentage of assumption for largest invoices by value | 15.00% | ||||
Percentage of collection rate | 15.00% | ||||
Percentage of largest invoice by value, condition 1 | 10.00% | ||||
Increase in provision recognized, if percentage of largest invoice by value is 10% | $ 17,000 | ||||
Percentage of largest invoice by value, condition 2 | 20.00% | ||||
Decrease in provision recognized, if percentage of largest invoice by value is 20% | $ 10,000 | ||||
Percentage of largest invoice by value, condition 3 | 30.00% | ||||
Decrease in provision recognized, if percentage of largest invoice by value is 30% | $ 23,000 | ||||
Trade Receivables [Member] | Bottom of Range [Member] | |||||
Provision for Bad Debt [Abstract] | |||||
Period of invoice age in estimating collection | 90 days | ||||
HPE Software Business [Member] | |||||
Provision for Bad Debt [Abstract] | |||||
Bad debt provision | $ 21,500 | ||||
Business Combination [Abstract] | |||||
Acquired intangibles | $ 6,539,825 | ||||
HPE Software Business [Member] | Customer Relationships [Member] | |||||
Business Combination [Abstract] | |||||
Acquired intangibles | 4,480,000 | ||||
HPE Software Business [Member] | Technology [Member] | |||||
Business Combination [Abstract] | |||||
Acquired intangibles | 1,810,000 | ||||
Senior Secured Debt Facilities [Member] | |||||
Detailed information about borrowings [Abstract] | |||||
Borrowings | 1,787,300 | 4,996,900 | 1,595,200 | ||
Current borrowings | 287,800 | 50,300 | 83,800 | ||
Revolving Credit Facility [Member] | |||||
Detailed information about borrowings [Abstract] | |||||
Current borrowings | $ 225,000 | $ 0 | $ 80,000 |
Segmental reporting (Details)
Segmental reporting (Details) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | Oct. 31, 2018USD ($)SegmentSubportfolio | |||
Segmental Information [Abstract] | |||||
Revenue before deferred revenue haircut | $ 1,084,165 | [1] | $ 1,001,483 | [2] | $ 4,815,460 |
Deferred revenue haircut | (6,892) | [1] | (10,250) | [2] | (61,062) |
Segment revenue | 1,077,273 | [1],[3],[4] | 991,233 | [2],[4],[5] | 4,754,398 |
Adjusted Operating Profit | 860,861 | [3] | 788,703 | [5] | 3,495,092 |
Share based compensation charge | (31,463) | [6],[7] | (26,254) | [6],[7] | (64,284) |
Amortisation of purchased intangibles | (206,751) | [1],[8] | (187,337) | [8] | (903,008) |
Operating profit | 227,392 | [3] | 247,196 | [5] | 376,824 |
Net finance costs | (95,845) | [3] | (97,348) | [5] | (342,712) |
Profit/(loss) before tax | 131,547 | [3],[8] | 149,848 | [5],[8] | $ 34,112 |
Reportable Segments [Member] | |||||
Reportable Segment [Abstract] | |||||
Number of historical operating segments | Segment | 2 | ||||
Reportable Segments [Member] | Micro Focus Product Portfolio [Member] | |||||
Reportable Segment [Abstract] | |||||
Number of sub-portfolios | Subportfolio | 4 | ||||
Segmental Information [Abstract] | |||||
Revenue before deferred revenue haircut | 1,084,165 | [7] | 1,001,483 | [7] | $ 4,815,460 |
Deferred revenue haircut | (6,892) | [7] | (10,250) | [7] | (61,062) |
Segment revenue | 1,077,273 | [7] | 991,233 | [7] | 4,754,398 |
Directly managed costs | (564,072) | [7] | (566,457) | [7] | (2,997,545) |
Allocation of centrally managed costs | 26,196 | [7] | 28,883 | [7] | 52,730 |
Total segment costs | (537,876) | [7] | (537,574) | [7] | (2,944,815) |
Adjusted Operating Profit | 539,397 | [7] | 453,659 | [7] | 1,809,583 |
Exceptional items | (97,258) | [7] | (27,853) | [7] | (538,156) |
Share based compensation charge | (31,463) | [7] | (26,254) | [7] | (64,284) |
Amortisation of purchased intangibles | (183,284) | [7] | (152,356) | [7] | (830,319) |
Operating profit | 227,392 | [7] | 247,196 | [7] | 376,824 |
Net finance costs | (95,845) | [7] | (97,348) | [7] | (342,712) |
Profit/(loss) before tax | $ 131,547 | [7] | $ 149,848 | [7] | $ 34,112 |
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The comparatives for the 12 months to 30 April 2017 and 30 April 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[5] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[6] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[7] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[8] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Segmental reporting, Reconcilli
Segmental reporting, Reconcilliation to Adjusted EBITDA (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Reconciliation to Adjusted EBITDA | |||||
Profit before tax | $ 131,547 | [1],[2] | $ 149,848 | [2],[3] | $ 34,112 |
Finance costs | 96,824 | [1] | 98,357 | [3] | 350,366 |
Finance income | (979) | [1] | (1,009) | [3] | (7,654) |
Share based compensation charge | 31,463 | [4],[5] | 26,254 | [4],[5] | 64,284 |
Foreign exchange credit | 2,901 | [2] | 2,584 | [2] | 37,292 |
Reportable Segments [Member] | Micro Focus Product Portfolio [Member] | |||||
Reconciliation to Adjusted EBITDA | |||||
Profit before tax | 131,547 | [5] | 149,848 | [5] | 34,112 |
Finance costs | 96,824 | [5] | 98,357 | [5] | 350,366 |
Finance income | (979) | [5] | (1,009) | [5] | (7,654) |
Depreciation of property, plant and equipment | 9,704 | [5] | 9,736 | [5] | 88,611 |
Amortization of intangible assets | 206,751 | [5] | 187,337 | [5] | 903,008 |
Exceptional items (reported in Operating profit) | 97,258 | [5] | 27,853 | [5] | 538,156 |
Share based compensation charge | 31,463 | [5] | 26,254 | [5] | 64,284 |
Product development, intangible costs capitalized | (27,664) | [5] | (30,877) | [5] | (44,350) |
Foreign exchange credit | (2,901) | [5] | (2,584) | [5] | (37,292) |
Adjusted EBITDA | $ 542,003 | [5] | $ 464,915 | [5] | $ 1,889,241 |
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[4] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[5] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Supplementary information, Anal
Supplementary information, Analysis of revenue by geography (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | [2] | Oct. 31, 2018 | ||
Geographical areas [Abstract] | |||||
Revenue | $ 1,077,273 | [1],[2],[3] | $ 991,233 | [4],[5] | $ 4,754,398 |
UK [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 52,230 | [2] | 55,257 | 299,579 | |
Non-current assets other than financial instruments and deferred tax assets | 147,700 | ||||
USA [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 551,519 | [2] | 459,045 | 2,279,840 | |
Non-current assets other than financial instruments and deferred tax assets | 3,778,700 | 5,145,800 | |||
Germany [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 86,799 | [2] | 108,541 | 309,534 | |
France [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 43,242 | [2] | 39,561 | 195,464 | |
Japan [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 42,369 | [2] | 35,969 | 145,820 | |
Other [Member] | |||||
Geographical areas [Abstract] | |||||
Revenue | 301,114 | [2] | $ 292,869 | 1,524,161 | |
Non-current assets other than financial instruments and deferred tax assets | $ 67,300 | $ 8,488,300 | |||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to 30 April 2017 and 30 April 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[5] | The comparatives for the 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Supplementary information, An_2
Supplementary information, Analysis of Revenue by Product (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | ||||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | ||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | $ 1,084,165 | [1] | $ 1,001,483 | [2] | $ 4,815,460 | |
Deferred revenue haircut | (6,892) | [1] | (10,250) | [2] | (61,062) | |
Total Revenue | 1,077,273 | [1],[3],[4] | 991,233 | [2],[4],[5] | 4,754,398 | |
Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 308,394 | [1] | 304,820 | [2] | 1,213,696 | |
Deferred revenue haircut | 0 | [1] | 0 | [2] | (7,592) | |
Total Revenue | 308,394 | [1] | 304,820 | [2] | 1,206,104 | |
Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 727,561 | [1] | 654,701 | [2] | 2,861,595 | |
Deferred revenue haircut | (6,892) | [1] | (10,250) | [2] | (42,657) | |
Total Revenue | 720,669 | [1] | 644,451 | [2] | 2,818,938 | |
Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 48,210 | [1] | 41,962 | [2] | 366,302 | |
Deferred revenue haircut | 0 | [1] | 0 | [2] | (2,046) | |
Total Revenue | 48,210 | [1] | 41,962 | [2] | 364,256 | |
SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 0 | [1] | 373,867 | |||
Deferred revenue haircut | 0 | [1] | (8,767) | |||
Total Revenue | 0 | [1] | 365,100 | |||
SaaS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [2] | 0 | ||||
Deferred revenue haircut | [2] | 0 | ||||
Total Revenue | [2] | 0 | ||||
Application Modernisation & Connectivity [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 771,829 | |||||
Application Modernisation & Connectivity [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 256,256 | |||||
Application Modernisation & Connectivity [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 497,632 | |||||
Application Modernisation & Connectivity [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 17,941 | |||||
Application Modernisation & Connectivity [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 0 | |||||
Application Delivery Management [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 987,956 | |||||
Application Delivery Management [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 185,460 | |||||
Application Delivery Management [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 646,711 | |||||
Application Delivery Management [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 41,639 | |||||
Application Delivery Management [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 114,145 | |||||
IT Operations Management [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 1,440,868 | |||||
IT Operations Management [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 363,150 | |||||
IT Operations Management [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 869,891 | |||||
IT Operations Management [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 192,772 | |||||
IT Operations Management [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 15,055 | |||||
Security [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 994,875 | |||||
Security [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 291,603 | |||||
Security [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 580,228 | |||||
Security [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 81,429 | |||||
Security [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 41,614 | |||||
Information Management & Governance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 619,933 | |||||
Information Management & Governance [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 117,227 | |||||
Information Management & Governance [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 267,133 | |||||
Information Management & Governance [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 32,521 | |||||
Information Management & Governance [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | $ 203,053 | |||||
CDMS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 265,160 | [1] | 258,828 | [2] | ||
CDMS [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 105,962 | [1] | 104,737 | [2] | ||
CDMS [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 149,668 | [1] | 145,180 | [2] | ||
CDMS [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 9,530 | [1] | 8,911 | [2] | ||
CDMS [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [1] | 0 | ||||
CDMS [Member] | SaaS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [2] | 0 | ||||
Host Connectivity [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 175,927 | [1] | 199,953 | [2] | ||
Host Connectivity [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 69,158 | [1] | 89,862 | [2] | ||
Host Connectivity [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 104,912 | [1] | 107,171 | [2] | ||
Host Connectivity [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 1,857 | [1] | 2,920 | [2] | ||
Host Connectivity [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [1] | 0 | ||||
Host Connectivity [Member] | SaaS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [2] | 0 | ||||
Identity, Access & Security [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 208,287 | [1] | 220,091 | [2] | ||
Identity, Access & Security [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 48,635 | [1] | 52,360 | [2] | ||
Identity, Access & Security [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 141,298 | [1] | 145,648 | [2] | ||
Identity, Access & Security [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 18,354 | [1] | 22,083 | [2] | ||
Identity, Access & Security [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [1] | 0 | ||||
Identity, Access & Security [Member] | SaaS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [2] | 0 | ||||
Development & IT Operations Management Tools [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 288,928 | [1] | 157,447 | [2] | ||
Development & IT Operations Management Tools [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 55,464 | [1] | 33,918 | [2] | ||
Development & IT Operations Management Tools [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 219,604 | [1] | 121,310 | [2] | ||
Development & IT Operations Management Tools [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 13,860 | [1] | 2,219 | [2] | ||
Development & IT Operations Management Tools [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [1] | 0 | ||||
Development & IT Operations Management Tools [Member] | SaaS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [2] | 0 | ||||
Collaboration & Networking [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 145,863 | [1] | 165,164 | [2] | ||
Collaboration & Networking [Member] | Licence [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 29,175 | [1] | 23,943 | [2] | ||
Collaboration & Networking [Member] | Maintenance [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 112,079 | [1] | 135,392 | [2] | ||
Collaboration & Networking [Member] | Consulting [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | 4,609 | [1] | 5,829 | [2] | ||
Collaboration & Networking [Member] | SaaS & Other Recurring [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [1] | $ 0 | ||||
Collaboration & Networking [Member] | SaaS [Member] | ||||||
Revenue by product [Abstract] | ||||||
Revenue before deferred revenue haircut | [2] | $ 0 | ||||
[1] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||
[2] | The comparatives for the 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||
[3] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||
[4] | The comparatives for the 12 months to 30 April 2017 and 30 April 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||
[5] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) |
Profit before tax (Details)
Profit before tax (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | [1] | Apr. 30, 2016 | [1] | Oct. 31, 2018 | |
Disclosure of Profit before tax [Abstract] | |||||
Staff costs | $ 480,654 | [2] | $ 429,493 | [2] | $ 2,095,025 |
Depreciation of property, plant and equipment [Abstract] | |||||
Owned assets | 9,704 | 9,736 | 71,184 | ||
Leased assets | 0 | 0 | 17,427 | ||
Loss on disposal of property, plant and equipment | 520 | 0 | 4,581 | ||
Amortization of intangibles | 206,751 | [3] | 187,337 | 903,008 | |
Inventories [Abstract] | |||||
Cost of inventories recognized as a credit (included in cost of sales) | (71) | (72) | 324 | ||
Operating lease rentals payable [Abstract] | |||||
Plant and machinery | 2,880 | 1,559 | 8,840 | ||
Property | 18,356 | 20,706 | 85,328 | ||
Provision for receivables impairment | 2,023 | 2,531 | 40,016 | ||
Foreign exchange gains | $ (2,901) | $ (2,584) | $ (37,292) | ||
[1] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Exceptional items (Details)
Exceptional items (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Reported within Operating profit [Abstract] | |||||
Operating profit | $ (227,392) | [1] | $ (247,196) | [2] | $ (376,824) |
Reported within finance costs [Abstract] | |||||
Finance costs incurred in escrow period | 0 | 0 | 6,326 | ||
Reported within finance income [Abstract] | |||||
Finance income earned in escrow period | 0 | 0 | (553) | ||
Finance income (costs) incurred in escrow period | 0 | 0 | (5,773) | ||
(Loss)/Profit before tax | (131,547) | [1],[3] | (149,848) | [2],[3] | (34,112) |
Tax [Abstract] | |||||
Total tax (credit)/charge | 7,464 | [1],[3],[4] | 13,869 | [2],[3],[4] | (673,081) |
Exceptional Items Adjustments [Member] | |||||
Reported within Operating profit [Abstract] | |||||
Integration costs | 27,696 | 23,634 | 278,995 | ||
Pre-acquisition costs | 58,004 | 5,569 | 43,025 | ||
Acquisition costs | 2,597 | 531 | 27,116 | ||
Property related costs | 5,525 | 5,964 | 38,014 | ||
Severance and legal costs | 3,436 | (4,845) | 129,743 | ||
Divestiture | 0 | 0 | 21,263 | ||
Royalty provision release | 0 | (3,000) | 0 | ||
Operating profit | 97,258 | 27,853 | 538,156 | ||
Reported within finance costs [Abstract] | |||||
Finance costs incurred in escrow period | 0 | 0 | 6,326 | ||
Reported within finance income [Abstract] | |||||
Finance income earned in escrow period | 0 | 0 | (553) | ||
Finance income (costs) incurred in escrow period | 0 | 0 | 5,773 | ||
(Loss)/Profit before tax | 97,258 | 27,853 | 543,929 | ||
Tax [Abstract] | |||||
Tax effect of exceptional items | (11,633) | (6,835) | (105,911) | ||
Tax exceptional item | 0 | 0 | (692,285) | ||
Total tax (credit)/charge | (11,633) | (6,835) | (798,196) | ||
Exceptional (income)/costs after tax | $ 85,625 | $ 21,018 | $ (254,267) | ||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[3] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Exceptional items, Summary of C
Exceptional items, Summary of Costs, Divestiture and Tax (Details) $ in Thousands | Sep. 01, 2017USD ($) | Jul. 31, 2015USD ($) | Apr. 30, 2017USD ($)Employee | Apr. 30, 2016USD ($)Employee | Oct. 31, 2018USD ($)Employee | ||
Exceptional items summary [Abstract] | |||||||
Number of senior employees | Employee | 4,800 | 4,200 | 14,800 | ||||
Finance costs | $ 96,824 | [1] | $ 98,357 | [2] | $ 350,366 | ||
Finance income | 979 | [1] | 1,009 | [2] | 7,654 | ||
Taxation | (7,464) | [1],[3],[4] | (13,869) | [2],[3],[4] | 673,081 | ||
Tax credit from re-measurement of deferred tax liabilities | 930,600 | ||||||
Transition tax charge | $ 238,300 | ||||||
Transition tax charge payable period | 8 years | ||||||
HPE Software Business [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Acquisition costs | $ 70,100 | ||||||
US excise tax payable on award of long term incentives and grants | $ 7,700 | ||||||
Number of senior employees | Employee | 4 | ||||||
Authasas B.V [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Acquisition costs | 500 | ||||||
Exceptional Items Adjustments [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Integration costs | 27,696 | 23,634 | $ 278,995 | ||||
Pre-acquisition costs | 58,004 | 5,569 | 43,025 | ||||
Acquisition costs | 2,597 | 531 | 27,116 | ||||
Property related costs | 5,525 | 5,964 | 38,014 | ||||
Severance and legal costs | 3,436 | (4,845) | 129,743 | ||||
Divestiture costs | 0 | 0 | 21,263 | ||||
Royalty provision release | 0 | 3,000 | 0 | ||||
Finance costs | 0 | 0 | 6,326 | ||||
Finance income | 0 | 0 | 553 | ||||
Taxation | 11,633 | 6,835 | 798,196 | ||||
Exceptional Items Adjustments [Member] | HPE Software Business [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Pre-acquisition costs | 58,004 | 5,569 | 43,025 | ||||
Acquisition costs | 27,116 | ||||||
Severance and legal costs | 4,845 | 129,743 | |||||
Finance costs | 0 | 0 | 6,326 | ||||
Finance income | 0 | 0 | 553 | ||||
Exceptional Items Adjustments [Member] | Serena and GWAVA [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Acquisition costs | 2,600 | ||||||
Exceptional Items Adjustments [Member] | Authasas B.V [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Acquisition costs | $ 500 | ||||||
Exceptional Items Adjustments [Member] | Serena [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Severance and legal costs | 3,436 | ||||||
Exceptional Items Adjustments [Member] | SUSE [Member] | |||||||
Exceptional items summary [Abstract] | |||||||
Divestiture costs | $ 0 | $ 0 | $ 21,263 | ||||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||
[2] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||||
[3] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||
[4] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Services provided by the Grou_3
Services provided by the Group's auditors and network of firms (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Services provided by the Group's auditors and network of firms [Abstract] | |||
Audit of Company | $ 1,032 | $ 563 | $ 12,223 |
Audit of subsidiaries | 2,494 | 2,895 | 1,887 |
Total audit | 3,526 | 3,458 | 14,110 |
Audit related assurance services | 2,634 | 782 | 914 |
Other assurance services | 0 | 0 | 664 |
Total assurance services | 2,634 | 782 | 1,578 |
Tax compliance services | 49 | 60 | 214 |
Tax advisory services | 53 | 70 | 196 |
Services relating to taxation | 102 | 130 | 410 |
Other non-audit services | 7,470 | 1,842 | 35 |
Total | $ 13,732 | $ 6,212 | $ 16,133 |
Finance income and finance co_3
Finance income and finance costs (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Finance costs [Abstract] | |||||
Interest on bank borrowings | $ 81,157 | $ 82,369 | $ 276,530 | ||
Commitment fees | 796 | 1,108 | 3,294 | ||
Amortization of facility costs and original issue discounts | 14,219 | 13,762 | 60,377 | ||
Finance costs on bank borrowings | 96,172 | 97,239 | 340,201 | ||
Net interest expense on retirement obligations | 565 | 467 | 2,823 | ||
Finance lease expense | 0 | 0 | 2,690 | ||
Interest rate swaps: cash flow hedges, transfer from equity | 0 | 0 | 3,399 | ||
Interest on tax provisions | 0 | 525 | 0 | ||
Other | 87 | 126 | 1,254 | ||
Total | 96,824 | [1] | 98,357 | [2] | 350,366 |
Finance income [Abstract] | |||||
Bank interest | 438 | 377 | 3,593 | ||
Interest on non-plan pension assets | 404 | 333 | 633 | ||
Other | 137 | 299 | 3,428 | ||
Total | 979 | [1] | 1,009 | [2] | 7,654 |
Net finance cost | 95,845 | [1] | 97,348 | [2] | 342,712 |
Included within exceptional items [Abstract] | |||||
Finance costs incurred in escrow period | 0 | 0 | 6,326 | ||
Finance income earned in escrow period | 0 | 0 | (553) | ||
Finance income (costs) incurred in escrow period | $ 0 | $ 0 | $ 5,773 | ||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) |
Taxation, Current and Deferred
Taxation, Current and Deferred Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Current Tax [Abstract] | |||||
Current period | $ 33,928 | [1] | $ 23,359 | [1] | $ 245,875 |
Adjustments to tax in respect of previous periods | 1,698 | [1],[2] | (20,570) | [1],[2] | (14,725) |
Current tax | 35,626 | [1] | 2,789 | [1] | 231,150 |
Deferred Tax [Abstract] | |||||
Origination and reversal of timing differences | (22,426) | [1] | (4,145) | [1] | 26,421 |
Adjustments to tax in respect of previous periods | (4,445) | [1],[2] | 16,010 | [1],[2] | 1,213 |
Impact of change in tax rates | (1,291) | [1] | (785) | [1] | (931,865) |
Deferred tax | (28,162) | [1] | 11,080 | [1] | (904,231) |
Total tax (credit)/charge | 7,464 | [1],[2],[3] | 13,869 | [1],[2],[4] | (673,081) |
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | |||||
Deferred tax relating to items credited (debited) directly to equity | 22,996 | (23,724) | |||
Defined Benefit Pension Schemes [Member] | |||||
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | |||||
Deferred tax relating to items credited (debited) directly to equity | (300) | (1,700) | 4,300 | ||
Share Options [Member] | |||||
Current and deferred tax relating to items credited (debited) directly to equity [Abstract] | |||||
Deferred tax relating to items credited (debited) directly to equity | 23,000 | 8,500 | (23,700) | ||
Current tax relating to items credited (debited) directly to equity | $ 4,100 | $ 1,500 | $ 4,100 | ||
[1] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) |
Taxation, Differences in Tax Ch
Taxation, Differences in Tax Charges (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Differences in Income Tax [Abstract] | |||||
Profit before taxation | $ 131,547 | [1],[2] | $ 149,848 | [2],[3] | $ 34,112 |
Tax at UK corporation tax rate 19.00% (April 30, 2017: 19.92%; April 30, 2016: 20.00%) | 26,005 | [2] | 29,970 | [2] | 6,481 |
Effects of [Abstract] | |||||
Tax rates other than the UK standard rate | 571 | [2] | 5,556 | [2] | 17,778 |
Intra-group financing | (15,636) | [2] | (14,445) | [2] | (20,654) |
Innovation tax credit benefits | (9,834) | [2] | (9,393) | [2] | (21,374) |
US foreign inclusion income | 394 | [2] | 0 | [2] | 39,053 |
US transition tax | 0 | [2] | 0 | [2] | 238,270 |
Share options | 0 | [2] | 0 | [2] | 10,236 |
Movement in deferred tax not recognized | 200 | [2] | (759) | [2] | 7,306 |
Effect of change in tax rates | (1,291) | [2] | (237) | [2] | (931,865) |
Expenses not deductible and other permanent differences | 9,802 | [2] | 7,737 | [2] | (4,800) |
Effect of income tax | 10,211 | [2] | 18,429 | [2] | (659,569) |
Adjustments to tax in respect of previous periods [Abstract] | |||||
Current tax | 1,698 | [2],[4] | (20,570) | [2],[4] | (14,725) |
Deferred tax | (4,445) | [2],[4] | 16,010 | [2],[4] | 1,213 |
Adjustments to tax in respect of previous periods | (2,747) | [2] | (4,560) | [2] | (13,512) |
Total tax (credit)/charge | $ 7,464 | [1],[2],[4] | $ 13,869 | [2],[3],[4] | $ (673,081) |
UK [Member] | |||||
Tax rate [Abstract] | |||||
Tax rate | 19.92% | 20.00% | 19.00% | ||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[4] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Taxation, Benefit Offered by Ju
Taxation, Benefit Offered by Jurisdictions (Details) - USD ($) $ in Millions | 10 Months Ended | 12 Months Ended | 18 Months Ended |
Oct. 31, 2018 | Dec. 31, 2017 | Oct. 31, 2018 | |
Taxation [Abstract] | |||
Net one-off credit to income statement resulting from US tax reforms | $ 692.3 | ||
Credit from re-measurement of deferred tax liabilities due to reduction of US federal tax rate | 930.6 | ||
Tax rate [Abstract] | |||
Transition tax charge | $ 238.3 | ||
Transition tax charge payable period | 8 years | ||
Adjustments to tax in respect of previous periods relating to items within income tax reserve | $ 13.2 | ||
Maximum potential tax liability | $ 57.8 | $ 57.8 | |
US [Member] | |||
Tax rate [Abstract] | |||
Tax rate | 21.00% | 35.00% |
Dividends (Details)
Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Equity - ordinary [Abstract] | |||
Final paid | $ 111,023 | $ 70,015 | $ 133,889 |
First interim paid | 66,512 | 35,144 | 156,243 |
Second interim paid | 0 | 0 | 252,029 |
Total dividend paid | $ 177,535 | $ 105,159 | $ 542,161 |
Final paid (in dollars per share) | $ 0.4974 | $ 0.4974 | $ 0.5833 |
First Interim paid (in dollars per share) | 0.2973 | 0.1694 | 0.3460 |
Second interim paid (in dollars per share) | $ 0 | $ 0 | 0.5833 |
Final dividend payable (in dollars per share) | $ 0.5833 | ||
Final dividend payable date | Apr. 5, 2019 | ||
Dividend payable record date | Mar. 1, 2019 | ||
Unrecognized final dividend | $ 249,000 |
Earnings per share (Details)
Earnings per share (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | 18 Months Ended | ||||||||||||||||||||||||||||||||
Apr. 30, 2017shares | [1] | Apr. 30, 2017USD ($) | [1] | Apr. 30, 2017£ / shares | [1] | Apr. 30, 2017$ / shares | [1] | Apr. 30, 2017$ / ₪ | Apr. 30, 2017$ / £ | [1] | Apr. 30, 2017$ / € | Apr. 30, 2017$ / $ | Apr. 30, 2016shares | [1] | Apr. 30, 2016USD ($) | [1] | Apr. 30, 2016£ / shares | [1] | Apr. 30, 2016$ / shares | [1] | Apr. 30, 2016$ / ₪ | Apr. 30, 2016$ / £ | [1] | Apr. 30, 2016$ / € | Apr. 30, 2016$ / $ | Oct. 31, 2018shares | Oct. 31, 2018USD ($) | Oct. 31, 2018£ / shares | Oct. 31, 2018$ / shares | Oct. 31, 2018$ / ₪ | Oct. 31, 2018$ / £ | Oct. 31, 2018$ / € | Oct. 31, 2018$ / $ | |
Earnings [Abstract] | ||||||||||||||||||||||||||||||||||
Profit for the period from continuing operations | $ 124,186 | $ 135,901 | $ 707,108 | |||||||||||||||||||||||||||||||
Profit for the period from discontinued operations | 33,720 | 26,993 | 76,940 | |||||||||||||||||||||||||||||||
Profit attributable to ordinary equity holders of parent entity | 157,906 | 162,894 | 784,048 | |||||||||||||||||||||||||||||||
Number of shares [Abstract] | ||||||||||||||||||||||||||||||||||
Weighted average number of shares (in shares) | shares | 229,238 | 218,635 | 388,717 | |||||||||||||||||||||||||||||||
Dilutive effects of shares (in shares) | shares | 8,165 | 8,847 | 10,963 | |||||||||||||||||||||||||||||||
Number of shares (in shares) | shares | 237,403 | 227,482 | 399,680 | |||||||||||||||||||||||||||||||
Basic earnings per share [Abstract] | ||||||||||||||||||||||||||||||||||
Continuing operations (in dollars / pounds per share) | (per share) | £ 0.4188 | [2] | $ 0.5417 | [2] | £ 0.4154 | [3] | $ 0.6240 | [3] | £ 1.3673 | $ 1.8191 | ||||||||||||||||||||||||
Discontinued operation (in dollars / pounds per share) | (per share) | 0.1137 | 0.1471 | 0.0805 | 0.1210 | 0.1488 | 0.1979 | ||||||||||||||||||||||||||||
Total basic earnings (loss) (in dollars / pounds per share) | (per share) | 0.5325 | [2] | 0.6888 | [2] | 0.4959 | [3] | 0.7450 | [3] | 1.5161 | 2.0170 | ||||||||||||||||||||||||
Diluted earnings per share [Abstract] | ||||||||||||||||||||||||||||||||||
Continuing operations (in dollars / pounds per share) | (per share) | 0.4044 | [2] | 0.5231 | [2] | 0.3992 | [3] | 0.5997 | [3] | 1.3298 | 1.7692 | ||||||||||||||||||||||||
Discontinued operations (in dollars / pounds per share) | (per share) | 0.1098 | 0.1420 | 0.0774 | 0.1164 | 0.1447 | 0.1925 | ||||||||||||||||||||||||||||
Total diluted earnings (loss) (in dollars / pounds per share) | (per share) | £ 0.5142 | [2] | $ 0.6651 | [2] | £ 0.4766 | [3] | $ 0.7161 | [3] | £ 1.4745 | $ 1.9617 | ||||||||||||||||||||||||
Earnings attributable to ordinary shareholders [Abstract] | ||||||||||||||||||||||||||||||||||
Profit/(loss) from continuing operations | 124,083 | [2],[4] | 135,979 | [3],[4] | 707,193 | |||||||||||||||||||||||||||||
Excluding non-controlling interests | 103 | [2] | (78) | [3] | (85) | |||||||||||||||||||||||||||||
Profit for the period from continuing operations | 124,186 | 135,901 | 707,108 | |||||||||||||||||||||||||||||||
From discontinued operation | 33,720 | [2],[4] | 26,993 | [3],[4] | 76,940 | |||||||||||||||||||||||||||||
Earnings attributable to ordinary shareholders | $ 157,906 | [2] | $ 162,894 | [3] | $ 784,048 | |||||||||||||||||||||||||||||
Average exchange rate | 0.26 | 1.29 | 1.09 | 0.76 | 0.26 | 1.50 | 1.11 | 0.77 | 0.28 | 1.33 | 1.18 | 0.78 | ||||||||||||||||||||||
[1] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||||||||||||||||||||||||||||||
[2] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||||||||||||||||||||||||||||||
[3] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | |||||||||||||||||||||||||||||||||
[4] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017 | Oct. 31, 2018 | |
Goodwill, Adjustments [Abstract] | ||
Goodwill, cost and net book amount, Ending period | $ 2,436,168 | $ 2,828,604 |
Acquisitions | 392,436 | 4,863,962 |
Reclassification to assets held for sale | 0 | (887,523) |
Goodwill, cost and net book amount, Ending period | 2,828,604 | 6,805,043 |
HPE Software Business [Member] | ||
Goodwill, Adjustments [Abstract] | ||
Acquisitions | 4,858,400 | |
COBOL-IT [Member] | ||
Goodwill, Adjustments [Abstract] | ||
Acquisitions | 5,600 | |
Micro Focus Product Portfolio [Member] | ||
Goodwill, Adjustments [Abstract] | ||
Goodwill, cost and net book amount, Ending period | 1,969,038 | |
Goodwill, cost and net book amount, Ending period | 1,969,038 | 6,805,043 |
SUSE [Member] | ||
Goodwill, Adjustments [Abstract] | ||
Goodwill, cost and net book amount, Ending period | 859,566 | |
Goodwill, cost and net book amount, Ending period | $ 859,566 | $ 0 |
Goodwill, Impairment Test (Deta
Goodwill, Impairment Test (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017 | Oct. 31, 2018 | |
Changes in goodwill impairment [Abstract] | ||
Impairment of goodwill | $ 0 | $ 0 |
Cash consideration | 2,535,000 | |
SUSE [Member] | ||
Changes in goodwill impairment [Abstract] | ||
Goodwill reclassified within assets held for sale | 859,566 | |
Impairment of goodwill | 0 | |
Micro Focus CGU [Member] | ||
Changes in goodwill impairment [Abstract] | ||
Goodwill reclassified within assets held for sale | 27,900 | |
Impairment of goodwill | $ 0 |
Goodwill, Key Assumptions (Deta
Goodwill, Key Assumptions (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Goodwill [Abstract] | |||
Long-term growth rate | 1.00% | 1.00% | |
Pre-tax discount rate (based upon the Groups weighted average cost of capital WACC) | 9.70% | 11.40% | |
Discount rate | 1.30% | ||
Increase in discount rate | 11.00% | ||
Goodwill recoverable amount exceeds carrying value | $ 2,200,000 | ||
Change in goodwill recoverable amount exceeds carrying value, due to change in discount rate | 0 | ||
Goodwill impairment amount | $ 0 | $ 0 | |
Micro Focus CGU [Member] | |||
Goodwill [Abstract] | |||
Change in discount rate | 2.00% | 2.00% | |
Goodwill impairment amount | $ 0 |
Other intangible assets (Detail
Other intangible assets (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Oct. 31, 2018 | Apr. 30, 2016 | |
Costs [Abstract] | |||
Costs, beginning | $ 1,490,390 | $ 1,849,373 | |
Continuing operations [Abstract] | |||
Acquisitions | 328,100 | ||
Additions | 30,826 | 91,162 | |
Exchange adjustments | (555) | (439) | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | (278,745) | ||
Costs, ending | 1,849,373 | 8,218,627 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 523,835 | 760,003 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 236,434 | 903,008 | |
Exchange adjustments | (266) | (828) | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 40,202 | ||
Reclassification to current assets classified as held for sale | (113,083) | ||
Accumulated amortization, ending | 760,003 | 1,589,302 | |
Net book amount at | 1,089,370 | 6,629,325 | $ 966,555 |
Total expenditure | 31,400 | 91,200 | |
HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 6,539,825 | ||
COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 14,008 | ||
Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 2,490 | ||
External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | 612 | 953 | |
Purchased Software [Member] | |||
Costs [Abstract] | |||
Costs, beginning | 22,028 | 24,635 | |
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Additions | 3,162 | 46,812 | |
Exchange adjustments | (555) | (439) | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | (5,121) | ||
Costs, ending | 24,635 | 141,202 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 20,061 | 20,970 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 1,175 | 30,682 | |
Exchange adjustments | (266) | (848) | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 765 | ||
Reclassification to current assets classified as held for sale | (1,422) | ||
Accumulated amortization, ending | 20,970 | 50,147 | |
Net book amount at | 3,665 | 91,055 | 1,967 |
Total expenditure | 46,800 | ||
Purchased Software [Member] | HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 72,825 | ||
Purchased Software [Member] | COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Purchased Software [Member] | Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 2,490 | ||
Purchased Software [Member] | External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | 0 | 0 | |
Product Development costs [Member] | |||
Costs [Abstract] | |||
Costs, beginning | 185,546 | 213,822 | |
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Additions | 27,664 | 44,350 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | 0 | ||
Costs, ending | 213,822 | 259,125 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 142,297 | 164,695 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 22,398 | 42,007 | |
Exchange adjustments | 0 | 20 | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 0 | ||
Reclassification to current assets classified as held for sale | 0 | ||
Accumulated amortization, ending | 164,695 | 206,722 | |
Net book amount at | 49,127 | 52,403 | 43,249 |
Total expenditure | 27,700 | 45,300 | |
Product Development costs [Member] | HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Product Development costs [Member] | COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Product Development costs [Member] | Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Product Development costs [Member] | Internal consultants [Member] | |||
Discontinuing operation [Abstract] | |||
Total expenditure | 44,400 | ||
Product Development costs [Member] | External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | 612 | 953 | |
Discontinuing operation [Abstract] | |||
Total expenditure | 600 | 900 | |
Purchased intangibles [Member] | HPE Software, COBOL-IT, Covertix [Member] | |||
Discontinuing operation [Abstract] | |||
Total expenditure | 6,556,300 | ||
Purchased intangibles [Member] | Serena, GWAVA and OpenATTIC [Member] | |||
Discontinuing operation [Abstract] | |||
Total expenditure | 328,100 | ||
Technology [Member] | |||
Costs [Abstract] | |||
Costs, beginning | 303,672 | 398,917 | |
Continuing operations [Abstract] | |||
Acquisitions | 95,245 | ||
Additions | 0 | 0 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | (50,987) | ||
Costs, ending | 398,917 | 2,158,467 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 153,888 | 222,986 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 69,098 | 280,478 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 13,425 | ||
Reclassification to current assets classified as held for sale | (38,037) | ||
Accumulated amortization, ending | 222,986 | 478,852 | |
Net book amount at | 175,931 | $ 1,679,615 | 149,784 |
Technology [Member] | Bottom of Range [Member] | |||
Discontinuing operation [Abstract] | |||
Unamortized lives | 2 years | ||
Technology [Member] | Top of Range [Member] | |||
Discontinuing operation [Abstract] | |||
Unamortized lives | 10 years | ||
Technology [Member] | HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | $ 1,809,000 | ||
Technology [Member] | COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 1,537 | ||
Technology [Member] | Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Technology [Member] | External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | 0 | 0 | |
Trade Names [Member] | |||
Costs [Abstract] | |||
Costs, beginning | 217,510 | 239,621 | |
Continuing operations [Abstract] | |||
Acquisitions | 22,111 | ||
Additions | 0 | 0 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | (135,116) | ||
Costs, ending | 239,621 | 267,659 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 22,854 | 38,849 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 15,995 | 26,724 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 9,118 | ||
Reclassification to current assets classified as held for sale | (25,810) | ||
Accumulated amortization, ending | 38,849 | 48,881 | |
Net book amount at | 200,772 | $ 218,778 | 194,656 |
Trade Names [Member] | Bottom of Range [Member] | |||
Discontinuing operation [Abstract] | |||
Unamortized lives | 10 years | ||
Trade Names [Member] | Top of Range [Member] | |||
Discontinuing operation [Abstract] | |||
Unamortized lives | 20 years | ||
Trade Names [Member] | HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | $ 163,000 | ||
Trade Names [Member] | COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 154 | ||
Trade Names [Member] | Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Trade Names [Member] | External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | 0 | 0 | |
Customer Relationships [Member] | |||
Costs [Abstract] | |||
Costs, beginning | 761,634 | 972,378 | |
Continuing operations [Abstract] | |||
Acquisitions | 210,744 | ||
Additions | 0 | 0 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | (87,521) | ||
Costs, ending | 972,378 | 5,377,174 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 184,735 | 312,503 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 127,768 | 519,935 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 16,894 | ||
Reclassification to current assets classified as held for sale | (47,814) | ||
Accumulated amortization, ending | 312,503 | 801,518 | |
Net book amount at | 659,875 | $ 4,575,656 | 576,899 |
Customer Relationships [Member] | Bottom of Range [Member] | |||
Discontinuing operation [Abstract] | |||
Unamortized lives | 1 year | ||
Customer Relationships [Member] | Top of Range [Member] | |||
Discontinuing operation [Abstract] | |||
Unamortized lives | 10 years | ||
Customer Relationships [Member] | HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | $ 4,480,000 | ||
Customer Relationships [Member] | COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 12,317 | ||
Customer Relationships [Member] | Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Customer Relationships [Member] | External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | 0 | 0 | |
Lease Contracts [Member] | |||
Costs [Abstract] | |||
Costs, beginning | 0 | 0 | |
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Additions | 0 | 0 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Reclassification to current assets classified as held for sale | 0 | ||
Costs, ending | 0 | 15,000 | |
Accumulated amortization [Abstract] | |||
Accumulated amortization, beginning | 0 | 0 | |
Continuing operations [Abstract] | |||
Amortization charge for the period | 0 | 3,182 | |
Exchange adjustments | 0 | 0 | |
Discontinuing operation [Abstract] | |||
Amortization charge for the period | 0 | ||
Reclassification to current assets classified as held for sale | 0 | ||
Accumulated amortization, ending | 0 | 3,182 | |
Net book amount at | 0 | 11,818 | $ 0 |
Lease Contracts [Member] | HPE Software Business [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 15,000 | ||
Lease Contracts [Member] | COBOL-IT [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Lease Contracts [Member] | Covertix [Member] | |||
Continuing operations [Abstract] | |||
Acquisitions | 0 | ||
Lease Contracts [Member] | External consultants [Member] | |||
Continuing operations [Abstract] | |||
Additions | $ 0 | $ 0 |
Other intangible assets, Consol
Other intangible assets, Consolidated Statement of Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Costs [Abstract] | |||||
Total amortization charge for the year | $ 206,751 | [1],[2] | $ 187,337 | [1] | $ 903,008 |
Research and development expenses | (122,824) | [3] | $ (117,395) | [4] | (659,413) |
Product Development costs [Member] | |||||
Costs [Abstract] | |||||
Research and development expenses | 27,664 | [2] | 44,350 | ||
Product Development costs [Member] | Cost of Sales [Member] | |||||
Costs [Abstract] | |||||
Total amortization charge for the year | 22,398 | [2] | 42,007 | ||
Purchased Technology [Member] | Cost of Sales [Member] | |||||
Costs [Abstract] | |||||
Total amortization charge for the year | 59,029 | [2] | 280,478 | ||
Purchased Trade Names and Customer Relationships [Member] | Selling and Distribution [Member] | |||||
Costs [Abstract] | |||||
Total amortization charge for the year | 124,254 | [2] | 549,841 | ||
Purchased Software [Member] | Administrative Expenses [Member] | |||||
Costs [Abstract] | |||||
Total amortization charge for the year | $ 1,070 | [2] | $ 30,682 | ||
[1] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) |
Property, plant and equipment_2
Property, plant and equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | $ 40,867 | $ 40,956 | |
Property, plant and equipment, end of period | 40,956 | $ 40,867 | 144,250 |
Depreciation | 11,800 | 9,700 | 95,200 |
Carrying value amount under financing leases | 0 | 25,900 | |
Serena Software, Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 1,927 | ||
GWAVA Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 195 | ||
Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 69,660 | 80,284 | |
Additions | 11,727 | ||
Disposals | (1,257) | ||
Exchange adjustments | (2,856) | ||
Reclassification to current assets classified as held for sale (note 19) | 888 | ||
Property, plant and equipment, end of period | 80,284 | 69,660 | 225,897 |
Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 28,793 | 39,328 | |
Charge for the period | 11,794 | ||
Disposals | (737) | ||
Exchange adjustments | (522) | ||
Property, plant and equipment, end of period | 39,328 | 28,793 | 81,647 |
Continuing Operations [Member] | HPE Software Business [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 160,118 | ||
Continuing Operations [Member] | COBOL-IT [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 52 | ||
Continuing Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 50,138 | ||
Disposals | (39,167) | ||
Exchange adjustments | (14,296) | ||
Continuing Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 88,611 | ||
Disposals | (34,608) | ||
Exchange adjustments | (10,507) | ||
Discontinued Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 2,067 | ||
Disposals | (100) | ||
Exchange adjustments | 393 | ||
Reclassification to current assets classified as held for sale (note 19) | (13,592) | ||
Discontinued Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 6,568 | ||
Disposals | (77) | ||
Exchange adjustments | 138 | ||
Reclassification to current assets classified as held for sale (note 19) | (7,806) | ||
Freehold Land and Buildings [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 13,612 | 12,512 | |
Property, plant and equipment, end of period | 12,512 | 13,612 | 12,069 |
Freehold Land and Buildings [Member] | Serena Software, Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Freehold Land and Buildings [Member] | GWAVA Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Freehold Land and Buildings [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 15,183 | 14,363 | |
Additions | 75 | ||
Disposals | 0 | ||
Exchange adjustments | (1,783) | ||
Reclassification to current assets classified as held for sale (note 19) | 888 | ||
Property, plant and equipment, end of period | 14,363 | 15,183 | 14,348 |
Freehold Land and Buildings [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 1,571 | 1,851 | |
Charge for the period | 454 | ||
Disposals | 0 | ||
Exchange adjustments | (174) | ||
Property, plant and equipment, end of period | 1,851 | 1,571 | 2,279 |
Freehold Land and Buildings [Member] | Continuing Operations [Member] | HPE Software Business [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Freehold Land and Buildings [Member] | Continuing Operations [Member] | COBOL-IT [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Freehold Land and Buildings [Member] | Continuing Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 0 | ||
Disposals | 0 | ||
Exchange adjustments | (15) | ||
Freehold Land and Buildings [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 479 | ||
Disposals | 0 | ||
Exchange adjustments | (51) | ||
Freehold Land and Buildings [Member] | Discontinued Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 0 | ||
Disposals | 0 | ||
Exchange adjustments | 0 | ||
Reclassification to current assets classified as held for sale (note 19) | 0 | ||
Freehold Land and Buildings [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 0 | ||
Disposals | 0 | ||
Exchange adjustments | 0 | ||
Reclassification to current assets classified as held for sale (note 19) | 0 | ||
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 14,604 | 14,518 | |
Property, plant and equipment, end of period | 14,518 | 14,604 | 44,891 |
Leasehold Improvements [Member] | Serena Software, Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 1,068 | ||
Leasehold Improvements [Member] | GWAVA Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Leasehold Improvements [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 23,418 | 27,269 | |
Additions | 3,536 | ||
Disposals | (450) | ||
Exchange adjustments | (303) | ||
Reclassification to current assets classified as held for sale (note 19) | 0 | ||
Property, plant and equipment, end of period | 27,269 | 23,418 | 79,200 |
Leasehold Improvements [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 8,814 | 12,751 | |
Charge for the period | 4,170 | ||
Disposals | (79) | ||
Exchange adjustments | (154) | ||
Property, plant and equipment, end of period | 12,751 | 8,814 | 34,309 |
Leasehold Improvements [Member] | Continuing Operations [Member] | HPE Software Business [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 56,568 | ||
Leasehold Improvements [Member] | Continuing Operations [Member] | COBOL-IT [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Leasehold Improvements [Member] | Continuing Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 10,444 | ||
Disposals | (7,417) | ||
Exchange adjustments | (3,609) | ||
Leasehold Improvements [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 26,271 | ||
Disposals | (4,005) | ||
Exchange adjustments | (1,354) | ||
Leasehold Improvements [Member] | Discontinued Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 20 | ||
Disposals | 0 | ||
Exchange adjustments | 123 | ||
Reclassification to current assets classified as held for sale (note 19) | (4,198) | ||
Leasehold Improvements [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 2,695 | ||
Disposals | 0 | ||
Exchange adjustments | 29 | ||
Reclassification to current assets classified as held for sale (note 19) | (2,078) | ||
Computer Equipment [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 8,714 | 10,552 | |
Property, plant and equipment, end of period | 10,552 | 8,714 | 66,681 |
Computer Equipment [Member] | Serena Software, Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 648 | ||
Computer Equipment [Member] | GWAVA Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 111 | ||
Computer Equipment [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 25,455 | 32,615 | |
Additions | 7,739 | ||
Disposals | (589) | ||
Exchange adjustments | (749) | ||
Reclassification to current assets classified as held for sale (note 19) | 0 | ||
Property, plant and equipment, end of period | 32,615 | 25,455 | 103,263 |
Computer Equipment [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 16,741 | 22,063 | |
Charge for the period | 6,132 | ||
Disposals | (560) | ||
Exchange adjustments | (250) | ||
Property, plant and equipment, end of period | 22,063 | 16,741 | 36,582 |
Computer Equipment [Member] | Continuing Operations [Member] | HPE Software Business [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 79,473 | ||
Computer Equipment [Member] | Continuing Operations [Member] | COBOL-IT [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 52 | ||
Computer Equipment [Member] | Continuing Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 33,286 | ||
Disposals | (27,105) | ||
Exchange adjustments | (8,205) | ||
Computer Equipment [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 50,725 | ||
Disposals | (26,858) | ||
Exchange adjustments | (6,406) | ||
Computer Equipment [Member] | Discontinued Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 2,018 | ||
Disposals | (85) | ||
Exchange adjustments | 264 | ||
Reclassification to current assets classified as held for sale (note 19) | (9,050) | ||
Computer Equipment [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 2,612 | ||
Disposals | (66) | ||
Exchange adjustments | 107 | ||
Reclassification to current assets classified as held for sale (note 19) | (5,595) | ||
Fixtures and Fittings [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 3,937 | 3,374 | |
Property, plant and equipment, end of period | 3,374 | 3,937 | 20,609 |
Fixtures and Fittings [Member] | Serena Software, Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 211 | ||
Fixtures and Fittings [Member] | GWAVA Inc. [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 84 | ||
Fixtures and Fittings [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 5,604 | 6,037 | |
Additions | 377 | ||
Disposals | (218) | ||
Exchange adjustments | (21) | ||
Reclassification to current assets classified as held for sale (note 19) | 0 | ||
Property, plant and equipment, end of period | 6,037 | 5,604 | 29,086 |
Fixtures and Fittings [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Property, plant and equipment, beginning of period | 1,667 | 2,663 | |
Charge for the period | 1,038 | ||
Disposals | (98) | ||
Exchange adjustments | 56 | ||
Property, plant and equipment, end of period | $ 2,663 | $ 1,667 | 8,477 |
Fixtures and Fittings [Member] | Continuing Operations [Member] | HPE Software Business [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 24,077 | ||
Fixtures and Fittings [Member] | Continuing Operations [Member] | COBOL-IT [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Acquisitions | 0 | ||
Fixtures and Fittings [Member] | Continuing Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 6,408 | ||
Disposals | (4,645) | ||
Exchange adjustments | (2,467) | ||
Fixtures and Fittings [Member] | Continuing Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 11,136 | ||
Disposals | (3,745) | ||
Exchange adjustments | (2,696) | ||
Fixtures and Fittings [Member] | Discontinued Operations [Member] | Cost [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Additions | 29 | ||
Disposals | (15) | ||
Exchange adjustments | 6 | ||
Reclassification to current assets classified as held for sale (note 19) | (344) | ||
Fixtures and Fittings [Member] | Discontinued Operations [Member] | Accumulated Depreciation [Member] | |||
Property, Plant and Equipment [Abstract] | |||
Charge for the period | 1,261 | ||
Disposals | (11) | ||
Exchange adjustments | 2 | ||
Reclassification to current assets classified as held for sale (note 19) | $ (133) |
Group entities (Details)
Group entities (Details) | 18 Months Ended | |
Oct. 31, 2018 | ||
Ownership Percentage [Abstract] | ||
Ownership percentage, wholly owned subsidiary (except Novell Japan Ltd) | 100.00% | |
Micro Focus Midco Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus Group Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus CHC Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus MHC Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus Holdings Unlimited (Formerly Micro Focus Holdings Limited) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus (IP) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus (US) Holdings [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus IP Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cayman Islands | |
Principal activities | Holding company | |
Registered office addresses | PO Box 309, Ugland House, South Church Street, George Town, South Cayman, KY1-1104, Cayman Islands | |
Novell Holdings Deutschland GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Holding company | |
Registered office addresses | Amtsgericht Nürnberg Germany | |
Micro Focus Finance Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland | |
Micro Focus Group Holdings Unlimited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Micro Focus International Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
NetIQ Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Novell Cayman Software Unlimited Company [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Novell Cayman Software International Unlimited Company [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Novell Ireland Real Estate Unlimited Company [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
SUSE Linux Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Novell Software International Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Micro Focus Finance S.a.r.l [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Luxembourg | |
Principal activities | Holding company | |
Registered office addresses | 20, rue des Peupliers, 2328, Luxembourg | |
Minerva Finance S.a.r.l. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Luxembourg | |
Principal activities | Holding company | |
Registered office addresses | 20, rue des Peupliers, 2328, Luxembourg | |
Borland Corporation [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Micro Focus (US) Group, Inc [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
MA FinanceCo., LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
The Attachmate Group, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Novell Holdings, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Novell International Holdings, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Micro Focus (US) International Holdings Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Spartacus Acquisition Holdings Corp. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Company Corporation, 2711 Centerville Rd, STE 400, Wilmington, New Castle, DE19808, U.S.A. | |
Spartacus Acquisition Corp. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Company Corporation, 2711 Centerville Rd, STE 400, Wilmington, New Castle, DE19808, U.S.A. | |
Serena Software, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Company Corporation, 2711 Centerville Rd, STE 400, Wilmington, New Castle, DE19808, U.S.A. | |
Serena Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Merant Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
GWAVA ULC (Formerly GWAVA Inc.) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Holding company | |
Registered office addresses | Suite 2600, Three Bentall Centre, 595 Burrard Street, PO Box 49314, Vancouver BC V7X 1L3, Canada | |
Seattle Holdings, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | The Company Corporation, 2711 Centerville Rd, STE 400, Wilmington, New Castle, DE19808, U.S.A. | |
Attachmate Group Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060 Australia | |
Borland Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060 Australia | |
Micro Focus Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060 Australia | |
Attachmate Group Austria GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Austria | |
Principal activities | Sale and support of software | |
Registered office addresses | Parkring 2, 1010, Vienna, Austria | |
Borland Entwicklung GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Austria | |
Principal activities | Development of software | |
Registered office addresses | Donau Centre, Hauptstrasse 4-10, Linz, 4040, Austria | |
Attachmate Group Belgium BVBA [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Belgium | |
Principal activities | Sale and support of software | |
Registered office addresses | EU Parliament, 4th Floor, 37 De Meeussquare, Brussels, 1000, Belgium | |
Micro Focus SPRL (Formerly Micro Focus NV) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Belgium | |
Principal activities | Sale and support of software | |
Registered office addresses | EU Parliament, 4th Floor, 37 De Meeussquare, Brussels, 1000, Belgium | |
Borland Latin America Ltda [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Sale and support of software | |
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002 Brazil | |
Micro Focus Programacao de Computadores Ltda [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Sale and support of software | |
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002 Brazil | |
Novell do Brasil Software Ltda. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Sale and support of software | |
Registered office addresses | Rua Joaquim Floriano, 466-12 Ander, Sao Paulo, CEP 04534-002 Brazil | |
Micro Focus APM Solutions Limited (EOOD) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Bulgaria | |
Principal activities | Development of software | |
Registered office addresses | 76A James Bourchier Blvd, Lozenetz, Sofia, 1407, Bulgaria | |
Micro Focus (Canada) ULC (Formerly Micro Focus (Canada) Limited) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Development, sale and support of software | |
Registered office addresses | 199 Bay Street, Suite 4000, Toronto, Ontario, M5L 1A9, Canada | |
Micro Focus Software (Canada), ULC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Sale and support of software | |
Registered office addresses | 4300 Bankers Hall West, 888 - 3rd Street S.W., Calgary, Alberta T2P 5C5, Canada | |
Novell Software (Beijing) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | China | |
Principal activities | Development, sale and support of software | |
Registered office addresses | 3603-3606 Off Tow A, No.7, Dongsanhuan, Beijing, 100020, People’s Republic of China | |
SUSE Linux s.r.o. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Czech Republic | |
Principal activities | Development, sale and support of software | |
Registered office addresses | Krizikova 148/34, Karlin, 186 00 Praha 8, Czech Republic | |
Attachmate Group Denmark ApS (Formerly Attachmate Group Demark A/s) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Denmark | |
Principal activities | Sale and support of software | |
Registered office addresses | Lyngsø Alle 3b, Hørsholm, 2970, Denmark | |
Micro Focus Middle East FZ-LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Arab Emirates | |
Principal activities | Sale and support of software | |
Registered office addresses | Dubai Internet City, DIC Building 2, 3rd Floor, Suite 315, Dubai, United Arab Emirates | |
Attachmate Group France SARL [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | France | |
Principal activities | Sale and support of software | |
Registered office addresses | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris 92911, France | |
Borland (France) Sarl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | France | |
Principal activities | Sale and support of software | |
Registered office addresses | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris 92911, France | |
Micro Focus SAS [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | France | |
Principal activities | Sale and support of software | |
Registered office addresses | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris 92911, France | |
Attachmate Group Germany GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Sale and support of software | |
Registered office addresses | Fraunhoferstrasse 7, Ismaning, 85737, Germany | |
Micro Focus GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Sale and support of software | |
Registered office addresses | Fraunhoferstrasse 7, Ismaning, 85737, Germany | |
SUSE Linux GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Development, sale and support of software | |
Registered office addresses | Maxfeldstrasse 5 90409 Nürnberg Germany | |
Attachmate Group Hong Kong Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Hong Kong | |
Principal activities | Sale and support of software | |
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |
Micro Focus India Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Support of software | |
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasandra Post Bangalore – 560093, India | |
Micro Focus Software India Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Development, sale and support of software | |
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasandra Post Bangalore – 560093, India | |
Relativity Technologies Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Sale and support of software | |
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasandra Post Bangalore – 560093, India | |
Attachmate Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Sale and support of software | |
Registered office addresses | Building 2, 2nd Floor, Parkmore East Business Park, Galway, Ireland | |
Micro Focus Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Development, sale and support of software | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Micro Focus Software (Ireland) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Development, sale and support of software | |
Registered office addresses | Corrig Court, Corrig Road, Sandyford Industrial Estate, Sandyford, Dublin 18, Ireland | |
NetIQ Europe Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Sale and support of software | |
Registered office addresses | Building 2, 2nd Floor, Parkmore East Business Park, Galway, Ireland | |
Micro Focus Israel Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Israel | |
Principal activities | Development and support of software | |
Registered office addresses | Matam Advanced Tech Center, Building 5/1, Haifa, 31 905, Israel | |
Attachmate Group Italy Srl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Italy | |
Principal activities | Sale and support of software | |
Registered office addresses | Viale Sarca 235, 20126 Milano Italy | |
Micro Focus Srl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Italy | |
Principal activities | Sale and support of software | |
Registered office addresses | Viale Sarca 235, 20126 Milano Italy | |
Borland Co, Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan | |
Micro Focus KK [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan | |
Novell Japan Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan | |
NetIQ KK [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan | |
Novell Corporation (Malaysia) Sdn. Bhd. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Malaysia | |
Principal activities | Sale and support of software | |
Registered office addresses | Unit 501 Level 5 Uptown 1, 1 Jalan SS2, Selangor Darul Ehsan, Malaysia | |
Attachmate Group Netherlands B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Raoul Wallenbergplein 23, 2404 ND Alphen a/d Rijn, Netherlands | |
Authasas B.V [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Raoul Wallenbergplein 23, 2404 ND Alphen a/d Rijn, Netherlands | |
Borland B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Raoul Wallenbergplein 23, 2404 ND Alphen a/d Rijn, Netherlands | |
Micro Focus B.V. (Formerly Micro Focus NV) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Raoul Wallenbergplein 23, 2404 ND Alphen a/d Rijn, Netherlands | |
Micro Focus Software (New Zealand) Unlimited (Formerly Novell New Zealand Limited) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | New Zealand | |
Principal activities | Sale and support of software | |
Registered office addresses | Simpson Grierson, Level 27, 88 Shortland Street Auckland 1141 New Zealand | |
Micro Focus AS [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Norway | |
Principal activities | Sale and support of software | |
Registered office addresses | 7th Floor, Dronning Eufemias gate 16, 0191 Oslo, Norway | |
Novell Portugal Informatica Lda [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Portugal | |
Principal activities | Sale and support of software | |
Registered office addresses | Centro Empresarial Torres de Lisboa, Torre G 1* Andar Sala 111, Rue Tomas da Fonseca, Lisbon, Portugal | |
Attachmate Group Singapore Pte. Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | 80 Robinson Road #02-00, 068898, Singapore | |
Borland (Singapore) Pte. Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | 80 Robinson Road #02-00, 068898, Singapore | |
Micro Focus Pte Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | 80 Robinson Road #02-00, 068898, Singapore | |
Attachmate Group South Africa (Pty) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | South Africa | |
Principal activities | Sale and support of software | |
Registered office addresses | Morning View Office Park 255 Rivonia Road, Morningside, South Africa | |
Micro Focus South Africa (Pty) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | South Africa | |
Principal activities | Sale and support of software | |
Registered office addresses | 4th Floor Aloe Grove, Houghton Estate Office Park, 2 Osborn Road, Houghton, 2198, South Africa | |
Micro Focus Korea Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | South Korea | |
Principal activities | Sale and support of software | |
Registered office addresses | Yeoidodong, SK Building, 15F, 31 Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul, South Korea | |
Novell Korea Co., Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | South Korea | |
Principal activities | Sale and support of software | |
Registered office addresses | Gangnam Finance Centre, Level 41, 152 Teheren-ro, Gangnam-gu, Seoul - 06236 South Korea | |
Attachmate Group Spain S.L. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Spain | |
Principal activities | Sale and support of software | |
Registered office addresses | C/Jose Echegaray 8, Las Rozas, Madrid 28230, Spain | |
Micro Focus S.L.U. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Spain | |
Principal activities | Sale and support of software | |
Registered office addresses | Paseo de la Castellana 42, Madrid, 28046, Spain | |
Attachmate Group Sweden AB [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Sweden | |
Principal activities | Sale and support of software | |
Registered office addresses | Kronborgsgränd 1, 164 46 Kista, Stockholm, Sweden | |
Attachmate Group Schweiz AG [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Switzerland | |
Principal activities | Sale and support of software | |
Registered office addresses | Merkurstrasse 14, 8953 Dietikon, Switzerland | |
Micro Focus GmbH (Formerly Micro Focus AG) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Switzerland | |
Principal activities | Sale and support of software | |
Registered office addresses | Lindenstrasse 26, Zurich, 8008, Switzerland | |
Novell (Taiwan) Co., Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Taiwan | |
Principal activities | Sale and support of software | |
Registered office addresses | Room B 26/F #26 Tun-Hwa S Road Sec, Taipei ROC 106, Taiwan | |
Attachmate Teknoloji Satis ve Pazarlama Ltd. Sti. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Turkey | |
Principal activities | Sale and support of software | |
Registered office addresses | Palladium Ofis Binasi, Halk Cad, No.8/A Kat 2, Atasehir 34748, Istanbul, Turkey | |
Attachmate Sales UK Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus IP Development Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Development and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Novell U.K. Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Novell UK Software Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus Software, Inc [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Development and support of software | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Attachmate Corporation [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Development and support of software | |
Registered office addresses | 505 Union Ave SE STE120, Olympia, WA 98501, U.S.A. | |
Micro Focus (US), Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Development and support of software | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
NetIQ Corporation [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Development and support of software | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
SUSE LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Development and support of software | |
Registered office addresses | CT Corporation, 155 Federal St. Suite 700, Boston, MA02110, U.S.A. | |
Borland Software Corporation [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Development and support of software | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Serena Software Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060 Australia | |
Serena Software Benelux BVBA [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Belgium | |
Principal activities | Sale and support of software | |
Registered office addresses | EU Parliament, 4th Floor, 37 De Meeussquare, Brussels, 1000, Belgium | |
Serena Software Do Brasil Ltda [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Sale and support of software | |
Registered office addresses | Rua Dom Jose de Barros, 177, 3rd Floor, Suite 302, Villa Buarque, Sao Paulo 01038‑100 Brazil | |
Serena Software SAS [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | France | |
Principal activities | Sale and support of software | |
Registered office addresses | Tour Atlantique, La Défense 9, 1 Place de la Pyramide, La Défense, Cedex, Paris 92911, France | |
Serena Software GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Sale and support of software | |
Registered office addresses | Nöerdlicher Zubringer 9-11, 40470, Düsseldorf, Germany | |
Serena Software Japan KK [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan | |
Serena Software Pte. Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | 80 Robinson Road #02-00, 068898, Singapore | |
Serena Software SA [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Spain | |
Principal activities | Sale and support of software | |
Registered office addresses | Ronda General Mitre 28-30, Barcelona 08017, Spain | |
Serena Software Europe Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Serena Software Ukraine LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ukraine | |
Principal activities | Sale and support of software | |
Registered office addresses | 13 Pimonenko str, building 1, Office 1B/22, Kiev 04050, Ukraine | |
GWAVA Technologies Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | The Company Corporation, 2711 Centerville Rd, STE 400, Wilmington, New Castle, DE19808, U.S.A. | |
GWAVA EMEA GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Sale and support of software | |
Registered office addresses | Von-Braun-Strasse 38a 48683 Ahaus Germany | |
Cambridge Technology Partners do Brasil s.c. Ltda [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Dormant | |
Registered office addresses | Rua Arizonia, 1349 10th Floor, Sao Paulo, 04567-003, Brazil | |
NetManage Canada ULC (Formerly NetManage Canada Inc.) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Dormant | |
Registered office addresses | 199 Bay Street, Suite 4000, Toronto, Ontario, M5L 1A9, Canada | |
Borland Canada Software ULC (Formerly Borland Canada, Inc.) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Dormant | |
Registered office addresses | Suite 2600, Three Bentall Centre, 595 Burrard Street, PO Box 49314, Vancouver BC V7X 1L3, Canada | |
Micro Focus International Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cayman Islands | |
Principal activities | Dormant | |
Registered office addresses | PO Box 309, Ugland House, South Church Street, George Town, South Cayman, KY1-1104, Cayman Islands | |
NetIQ Software International Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cyprus | |
Principal activities | Dormant | |
Registered office addresses | 54 Digeni Akrita, Akrita 2nd Floor, Office 201-202, PC 1061, Nicosia, Cyprus | |
NOVL Czech s.r.o. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Czech Republic | |
Principal activities | Dormant | |
Registered office addresses | Krizikova 148/34, Karlin, 186 00 Praha 8, Czech Republic | |
Attachmate Middle East LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Egypt | |
Principal activities | Dormant | |
Registered office addresses | 19 Helmy Elmasry Street, Almaza, Cairo, Egypt | |
Borland GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Dormant | |
Registered office addresses | Fraunhoferstrasse 7, Ismaning, 85737, Germany | |
Attachmate (Hong Kong) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Hong Kong | |
Principal activities | Dormant | |
Registered office addresses | 21st floor, Henley Building, 5 Queen’s Road Central, Hong Kong | |
Borland (H.K.) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Hong Kong | |
Principal activities | Dormant | |
Registered office addresses | Level 54, Hopewell Centre, 183 Queens Road East, Hong Kong | |
NetIQ Asia Ltd. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Hong Kong | |
Principal activities | Dormant | |
Registered office addresses | Level 54, Hopewell Centre, 183 Queens Road East, Hong Kong | |
Attachmate India Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Dormant | |
Registered office addresses | U&I Corporation Centre, 47 Echelon, Sector 32, Gurgaon Harayana, India | |
Borland Software India Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Dormant | |
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasandra Post Bangalore – 560093, India | |
Cambridge Technology Partners India Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Dormant | |
Registered office addresses | Laurel, Block D, 65/2, Bagmane Tech Park, C.V. Raman Nagar, Byrasandra Post Bangalore – 560093, India | |
Novell India Pvt. Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Dormant | |
Registered office addresses | Leela Galleria, 1st Floor, Andheri Kurla Road, Andheri (East), Mumbai – 400059, India | |
SUSE Linux Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Dormant | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
N.Y. NetManage (Yerushalayim) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Israel | |
Principal activities | Dormant | |
Registered office addresses | Scientific Industries Center, Haifa, 33262, Israel | |
Novell Israel Software Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Israel | |
Principal activities | Dormant | |
Registered office addresses | 17 Hatidhar St, Raannana, 43665, Israel | |
Authasas Advanced Authentication B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Dormant | |
Registered office addresses | Raoul Wallenbergplein 23, 2404 ND Alphen a/d Rijn, Netherlands | |
Borland (Holding) UK Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Borland (UK) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus APM Solutions Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus UK Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
NetIQ Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Ryan McFarland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
XDB (UK) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK* | [1] |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Borland Technology Corporation [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Dormant | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
CJDNLD, LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Dormant | |
Registered office addresses | The Corporation Trust Company, Corporation Trust Center 1209 Orange St, Wilmington, New Castle, DE19801, U.S.A. | |
Micro Focus (IP) Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Dormant | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus (IP) Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Dormant | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Autonomy Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | 410 Concord Road, Rhodes, NSW 2138, Australia | |
Autonomy Systems Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | 410 Concord Road, Rhodes, NSW 2138, Australia | |
Entco Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | 410 Concord Road, Rhodes, NSW 2138, Australia | |
Entcorp Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | 410 Concord Road, Rhodes, NSW 2138, Australia | |
Autonomy Belgium BVBA [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Belgium | |
Principal activities | Sale and support of software | |
Registered office addresses | Pegasuslaan 5 1831 Diegem Belgium | |
Entco Belgium BVBA [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Belgium | |
Principal activities | Sale and support of software | |
Registered office addresses | Pegasuslaan 5 1831 Diegem Belgium | |
Entco Holdings L.P. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Bermuda | |
Principal activities | Holding company | |
Registered office addresses | 4th Floor, Washington House, 16 Church Street, Hamilton, HM 11, Bermuda | |
Entco Brasil Servicos de Tecnologia Ltda [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Sale and support of software | |
Registered office addresses | Av Marcos Penteado De Ulhoa Rodrigues, No 939, Andar 8 Conj 818 Torre 1, 06.460-040, Tambore, Barueri, Brazil | |
Peregrine Systems do Brazil Limitada [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Brazil | |
Principal activities | Sale and support of software | |
Registered office addresses | Avenida das nações Unidas, nº 12.901, conjunto 2302, sala 72, Itaim Bibi, São Paulo, CEP 04578, Brazil | |
Verity Worldwide Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | British Virgin Islands | |
Principal activities | Sale and support of software | |
Registered office addresses | Appleby Corporate Services (BVI) Limited, Jayla Place, PO Box 3190, Road Town, Tortola, VG1110, British Virgin Islands | |
Entco Bulgaria EOOD [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Bulgaria | |
Principal activities | Sale and support of software | |
Registered office addresses | 1715 Sofia, Mladost district, Business Park Sofia, Building 9, Sophia, Bulgaria | |
Autonomy Systems (Canada) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Sale and support of software | |
Registered office addresses | 200-204 Lambert Street, Whitehorse, YT, Y1A 3T2 Canada | |
Entco Software Canada Co. Logiciels Entco Canada Cie [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Sale and support of software | |
Registered office addresses | 161 Bay Street, Suite 2700 Toronto, ON M5J 2S1 Canada | |
Entcorp Canada, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Sale and support of software | |
Registered office addresses | Barker House 570 Queen Street, Suite 600, Fredericton, NB, E3B 6Z6 Canada | |
Entco Bellatrix HoldCo [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cayman Islands | |
Principal activities | Sale and support of software | |
Registered office addresses | 18 Forum Lane, Camana Bay, P.O. Box 258, Grand Cayman, 1104, Cayman Islands | |
Entco Capital Co [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cayman Islands | |
Principal activities | Sale and support of software | |
Registered office addresses | 18 Forum Lane, Camana Bay, P.O. Box 258, Grand Cayman, 1104, Cayman Islands | |
Entco Investment Co [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cayman Islands | |
Principal activities | Sale and support of software | |
Registered office addresses | 18 Forum Lane, Camana Bay, P.O. Box 258, Grand Cayman, 1104, Cayman Islands | |
Entco Marigalante Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Cayman Islands | |
Principal activities | Sale and support of software | |
Registered office addresses | 18 Forum Lane, Camana Bay, P.O. Box 258, Grand Cayman, 1104, Cayman Islands | |
Autonomy Systems (Beijing) Limited Company [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | China | |
Principal activities | Sale and support of software | |
Registered office addresses | Room 507, 508 Tower A, Raycom Info Tech Park No. 2, Science Institute, South Road, Beijing, 100080, China | |
Shanghai Entco Software Technology Co., Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | China | |
Principal activities | Sale and support of software | |
Registered office addresses | Floor 2, Building 1, No. 799 Naxian Road, Shanghai, China | |
Entco CentroAmerica CAC Limitada [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Costa Rica | |
Principal activities | Sale and support of software | |
Registered office addresses | Calle 7 Avenida 7 y 9, Edificio 751, Barrio Amon, San Jose, Costa Rica | |
Entco Costa Rica Limitada [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Costa Rica | |
Principal activities | Sale and support of software | |
Registered office addresses | Calle 7 Avenida 7 y 9, Edificio 751, Barrio Amon, San Jose, Costa Rica | |
Entcorp Czechia, s.r.o. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Czech Republic | |
Principal activities | Sale and support of software | |
Registered office addresses | Za Brumlovkou 1559/5, Michle, Prague, 140 00, Czech Republic | |
Entco Denmark ApS [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Denmark | |
Principal activities | Sale and support of software | |
Registered office addresses | Lautruphoj 1-3 2750 Ballerup Denmark | |
Entco France SAS [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | France | |
Principal activities | Sale and support of software | |
Registered office addresses | 1 avenue du Canada, Les Ulis, 91947, France | |
Entco Deutschland GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Sale and support of software | |
Registered office addresses | Herrenberger Str. 140, 71034 Boeblingen, Germany | |
EntCorp Hong Kong Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Hong Kong | |
Principal activities | Sale and support of software | |
Registered office addresses | 35/F Central Plaza, 18 Harbour Road, Wanchai, Hong Kong | |
Autonomy Software Asia Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Sale and support of software | |
Registered office addresses | 2Floor, Hibiscus,Vrindavan Tech Village,Marathahalli Outer Ring Rd, Bangalore, India, 560037, India | |
Entco IT Services Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Sale and support of software | |
Registered office addresses | 24 Salarpuria Arena, Hosur Main Road, Adugodi, Bangalore, 560-030, India | |
Entco Software India Private Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | India | |
Principal activities | Sale and support of software | |
Registered office addresses | 66/1, 6th Floor,Olympia Building, Bagmane Tech Park, Byrasandra, CV Raman Nagar, Bangalore, Karnataka, 560093, India | |
Entsoft Galway Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Sale and support of software | |
Registered office addresses | Liffey Park Technology Campus, Barnhall Road, Leixlip, Co. Kildare, Ireland | |
Entsoft Holding Ireland Unlimited Company [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Holding company | |
Registered office addresses | Liffey Park Technology Campus, Barnhall Road, Leixlip, Co. Kildare, Ireland | |
Entsoft Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Sale and support of software | |
Registered office addresses | Liffey Park Technology Campus, Barnhall Road, Leixlip, Co. Kildare, Ireland | |
Entco Interactive (Israel) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Israel | |
Principal activities | Sale and support of software | |
Registered office addresses | 5 Altalef St., Yahud, Israel | |
Entcorp Software Israel Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Israel | |
Principal activities | Sale and support of software | |
Registered office addresses | 5 Altalef St., Yahud, Israel | |
Autonomy Italy Srl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Italy | |
Principal activities | Sale and support of software | |
Registered office addresses | Via Vittor Pisani. 16, Milan, 20124, Italy | |
Entco Italiana Srl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Italy | |
Principal activities | Sale and support of software | |
Registered office addresses | Via C. Donat Cattin 5, 20063 Cernusco sul Naviglio (MI) Italy | |
Enterprise Corp Italiana Srl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Italy | |
Principal activities | Sale and support of software | |
Registered office addresses | Corso Matteotti 1/A, Milan, 20121, Italy | |
Verity Italia Srl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Italy | |
Principal activities | Sale and support of software | |
Registered office addresses | Via S.Maria alla Porta n.9, Milan, 20123, Italy | |
Entcorp Japan K.K. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | No. 8 Center Plaza Bldg, 5F, 1-10-16 Horidomecho Nihonbashi, Chuo-ku, Tokyo 103-0012, Japan | |
Micro Focus Enterprise Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Japan | |
Principal activities | Sale and support of software | |
Registered office addresses | Midtown Tower 19F, 9-7-1 Akasaka, Minato-ku, Tokyo 107-6219, Japan | |
Entco Luxembourg Sarl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Luxembourg | |
Principal activities | Sale and support of software | |
Registered office addresses | 75, Parc d'Activités Capellen, Capellen, 8308, Luxembourg | |
Verity Luxembourg S.a r.l. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Luxembourg | |
Principal activities | Sale and support of software | |
Registered office addresses | 5, Rue Guillaume Kroll, L - 1882, Luxembourg | |
Entco Software Malaysia Sdn. Bhd. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Malaysia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 21 - Suite 21.01, The Gardens South Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur, Malaysia | |
Entco Mexico, S. de R.L. de C.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Mexico | |
Principal activities | Sale and support of software | |
Registered office addresses | Periferico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, C.P. 45610, Jalisco, Mexico | |
Entco Software Mexico, S. de R.L. de C.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Mexico | |
Principal activities | Sale and support of software | |
Registered office addresses | Periferico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, C.P. 45610, Jalisco, Mexico | |
Entcorp Software Mexico, S. de R.L. de C.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Mexico | |
Principal activities | Sale and support of software | |
Registered office addresses | Periferico Sur 6751, Col. Toluquilla, Municipio Tlaquepaque, C.P. 45610, Jalisco, Mexico | |
Autonomy HoldCo B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Autonomy Netherlands BV [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Coltbaan 31, Nieuwegein, 3439 NG, Netherlands | |
Entco Caribe B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Draco B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Eastern Holding B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Eastern Holding II B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Enterprise B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Gatriam Holding B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco HoldCo B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco HoldCo I B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco HoldCo II B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco HoldCo III B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco HoldCo IV B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Holding Berlin B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Holding Finance B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Holding Hague B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Holding Hague II B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco International Trade B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Nederland B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Puerto Rico B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entco Sinope Holding B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Holding company | |
Registered office addresses | Startbaan 16, 1187 XR, Amstelveen, Netherlands | |
Entcorp Nederlands B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Coltbaan 31, Nieuwegein, 3439 NG, Netherlands | |
Verity Benelux B.V. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Coltbaan 31, Nieuwegein, 3439 NG, Netherlands | |
Entcorp Philippines, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Philippines | |
Principal activities | Sale and support of software | |
Registered office addresses | 7th Floor Robinson Summit Center, 6783 Ayala Avenue, Makati City, Metro Manila, Philippines | |
Entco Polska sp. z o.o. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Poland | |
Principal activities | Sale and support of software | |
Registered office addresses | Centrum Biurowe Globis, Powstańców Śląskich 7A, 53-332 Wrocław, Poland | |
Entco Caribe B.V. LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Puerto Rico | |
Principal activities | Sale and support of software | |
Registered office addresses | 110 Highway North Km 28, Bldg 1, Aguadilla, 00605, Puerto Rico | |
Entco Puerto Rico B.V. LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Puerto Rico | |
Principal activities | Sale and support of software | |
Registered office addresses | 350 Chardon Avenue, Chardon Tower, Suite 801, San Juan, 00918, Puerto Rico | |
Entco Software Romania SRL [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Romania | |
Principal activities | Sale and support of software | |
Registered office addresses | Bucharest, 3 George Constantinescu Street, BOC Office Building, 4th floor, entrance B, 2nd District, PC 020339, Romania | |
Limited Liability Company Entco [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Russian Federation | |
Principal activities | Sale and support of software | |
Registered office addresses | Leningradskoye shosse 16A, building 3, Moscow, 125171, Russian Federation | |
Autonomy Systems Singapore Pte Ltd [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, Singapore, Singapore | |
Micro Focus Software Pte. Ltd (Formerly - Entco Singapore (Sales) Pte. Ltd.) [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, Singapore, Singapore | |
Entco Software Pte. Ltd. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Singapore | |
Principal activities | Sale and support of software | |
Registered office addresses | #12-04/06, 1 Harbourfront Place, Harbourfront Tower 1, Singapore, Singapore | |
Autonomy Systems Software South Africa Pty Ltd [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | South Africa | |
Principal activities | Sale and support of software | |
Registered office addresses | PO Box 2238, Florida Hills, 1716, South Africa | |
Entco Field Delivery Spain, S.L.U. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Spain | |
Principal activities | Sale and support of software | |
Registered office addresses | Calle José Echegaray 8, Las Rozas de Madrid, 28232 Madrid, 28232, Spain | |
EntCo Software Spain S.L.U. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Spain | |
Principal activities | Sale and support of software | |
Registered office addresses | Calle José Echegaray 8, Las Rozas de Madrid, 28232 Madrid, 28232, Spain | |
Entco Sverige AB [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Sweden | |
Principal activities | Sale and support of software | |
Registered office addresses | Gustav III:s Boulevard 36, SE-169 85, Stockholm, Sweden, SE, Sweden | |
Entco International Sarl [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Switzerland | |
Principal activities | Sale and support of software | |
Registered office addresses | Jean-Baptiste Vandelle 3A, 1290 Versoix Switzerland | |
Entco Schweiz GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Switzerland | |
Principal activities | Sale and support of software | |
Registered office addresses | 1, Ueberlandstrasse, 8600 Duebendorf, Switzerland | |
Trilead GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Switzerland | |
Principal activities | Sale and support of software | |
Registered office addresses | Rembach 7, Altendorf, 8852, Switzerland | |
Entco Turkey Teknoloji Cozumleri Limited Sirketi [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Turkey | |
Principal activities | Sale and support of software | |
Registered office addresses | Barbaros Mah.Kardelen SK. No. 2/42-43 Atasehir, Istanbul, Turkey | |
Entco Software Services Middle East FZ-LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Arab Emirates | |
Principal activities | Sale and support of software | |
Registered office addresses | Shatha Tower, 12th floor, Dubai Internet City, Dubai, United Arab Emirates | |
Autonomy Systems Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Kingdom | |
Principal activities | Sale and support of software | |
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom | |
Entco Foreign HoldCo Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Kingdom | |
Principal activities | Holding company | |
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom | |
Entco Situla Holding Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Kingdom | |
Principal activities | Holding company | |
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom | |
Entcorp Marigalante UK Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Kingdom | |
Principal activities | Sale and support of software | |
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom | |
Entcorp UK Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Kingdom | |
Principal activities | Sale and support of software | |
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom | |
Longsand Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | United Kingdom | |
Principal activities | Sale and support of software | |
Registered office addresses | Cain Road, Amen Corner, Bracknell, Berkshire RG12 1HN, United Kingdom | |
ArcSight, LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco Andromeda LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco Brazil Holdings LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | 1209 Orange St, Wilmington, New Castle, DE, 19801, U.S.A. | |
Entco Delaware LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco Government Software LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco Holdings, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco MS, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco Technologies, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Entco, LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
EntIT Software LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
MicroLink LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Seattle Escrow Borrower LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Seattle SpinCo, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Holding company | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Stratify, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Vertica Systems, LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Voltage Security International, Inc. [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | 1140 Enterprise Way, Building G, Sunnyvale, CA, 94089 U.S.A. | |
Cobol-IT, SAS [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | France | |
Principal activities | Sale and support of software | |
Registered office addresses | 231 rue Saint Honore, Paris, 75001, France | |
SUSE Software Solutions Australia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 17, 100 Barangaroo Avenue, Barangaroo NSW 2000, Australia | |
Serena Software Canada Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Sale and support of software | |
Registered office addresses | Suite 800, 1959 Upper Water street, PO BOX 997 Halifax, B3J 2X2 NS Canada | |
SUSE Software Solutions Canada ULC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Canada | |
Principal activities | Sale and support of software | |
Registered office addresses | 250 Howe Street, Suite 1400-C, Vancouver, BC V6C 3S7, Canada | |
SUSE International Holdings GmbH [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Germany | |
Principal activities | Holding company | |
Registered office addresses | Maxfeldstrasse 5 90409 Nürnberg Germany | |
Attachmate Australasia Pty Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Australia | |
Principal activities | Sale and support of software | |
Registered office addresses | Level 8, 76 Berry Street, North Sydney, NSW 2060 Australia | |
SUSE Software Solutions Hong Kong Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Hong Kong | |
Principal activities | Sale and support of software | |
Registered office addresses | U&I Corporation Centre, 47 Echelon, Sector 32, Gurgaon Harayana, India | |
SUSE Software Solutions Netherlands BV [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Netherlands | |
Principal activities | Sale and support of software | |
Registered office addresses | Herengracht 282, 1016BX Amsterdam, Netherlands | |
Micro Focus Software (IP) Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
SUSE Software Solutions International Services Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Sale and support of software | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
SUSE Software Solutions Ireland Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Ireland | |
Principal activities | Sale and support of software | |
Registered office addresses | 70 Sir John Rogerson’s Quay, Dublin 2, Ireland | |
Micro Focus LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Saudi Arabia | |
Principal activities | Sale and support of software | |
Registered office addresses | Maazar Street, Futuro Tower, 3rd Floor, P.O. Box 69171, Riyadh 11547, Saudi Arabia | |
SUSE Software Solutions South Africa (Pty) Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | South Africa | |
Principal activities | Sale and support of software | |
Registered office addresses | 22 Smith Street, Braamfontein, Johannesburg, Gauteng, 2000, South Africa | |
Micro Focus Enterprise (Tunisia) LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | Tunisia | |
Principal activities | Sale and support of software | |
Registered office addresses | ZI Chotrana, Technopôle El Ghazala, Lot N° 45, 2088, Ariana, Tunisia | |
SUSE Software Solutions UK Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | Cornwall Court, 19 Cornwall Street, Birmingham, B3 2DT United Kingdom | |
Micro Focus Integration Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus Integration Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Sale and support of software | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Micro Focus Midco Holdings Limited [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | UK | |
Principal activities | Holding company | |
Registered office addresses | The Lawn, 22-30 Old Bath Road, Newbury, Berkshire, United Kingdom, RG14 1QN | |
Marcel Holdings LLC [Member] | ||
Details of Investments in Subsidiaries [Abstract] | ||
Country of incorporation | USA | |
Principal activities | Sale and support of software | |
Registered office addresses | Corporation Service Company, 251 Little Falls Drive, Wilmington, New Castle, DE19808, U.S.A. | |
[1] | The above companies incorporated in the UK are exempt from audit and from preparing Annual Accounts. |
Investments in associates (Deta
Investments in associates (Details) $ in Thousands | 2 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | 18 Months Ended | |
Jun. 06, 2016 | Mar. 31, 2017 | Apr. 30, 2017USD ($)Shareholder | Apr. 30, 2017USD ($)Shareholder | Apr. 30, 2016USD ($) | Oct. 31, 2018USD ($)ShareholderBoardMemberAlternativeBoardMember | |
Investment in associates [Abstract] | ||||||
Investments in associates | $ 11,457 | |||||
Investments in associates | $ 11,457 | $ 11,457 | $ 0 | |||
Open Invention Network LLC [Member] | ||||||
Investment in associates [Abstract] | ||||||
Percentage of interest in associates | 14.30% | 12.50% | 12.50% | 12.50% | 14.30% | 12.50% |
Number of shareholders in associate | Shareholder | 8 | 8 | 8 | |||
Number of board members | BoardMember | 1 | |||||
Number of alternative board members | AlternativeBoardMember | 1 | |||||
Investments in associates | $ 12,711 | $ 11,457 | ||||
Gain on dilution of investment | 966 | 0 | ||||
Share of post-tax loss of associates | (2,220) | (1,809) | ||||
Adjustments for investments in associates | (1,254) | (1,809) | ||||
Reclassification to current assets classified as held for sale (note 19) | 0 | (9,648) | ||||
Investments in associates | $ 11,457 | $ 11,457 | $ 12,711 | $ 0 |
Investments in associates, Fina
Investments in associates, Financial Information of Associates (Details) - USD ($) $ in Thousands | 2 Months Ended | 10 Months Ended | 11 Months Ended | 12 Months Ended | 18 Months Ended | 19 Months Ended | |||||
Jun. 06, 2016 | Mar. 31, 2017 | Apr. 30, 2017 | Apr. 30, 2017 | Mar. 31, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | Sep. 30, 2018 | Apr. 30, 2015 | |||
Financial information of associates [Abstract] | |||||||||||
Non-current assets | $ 3,995,511 | $ 3,995,511 | $ 13,720,467 | ||||||||
Current assets | 442,193 | 442,193 | 3,060,088 | ||||||||
Current liabilities | (944,697) | (944,697) | (2,448,090) | ||||||||
Non-current liabilities | (1,879,517) | (1,879,517) | (6,540,485) | ||||||||
Total assets | 4,437,704 | 4,437,704 | 16,780,555 | ||||||||
Equity | $ 1,613,490 | 1,613,490 | $ 1,593,728 | 7,791,980 | $ 1,278,061 | ||||||
Revenue | 1,077,273 | [1],[2],[3] | 991,233 | [2],[4],[5] | 4,754,398 | ||||||
Net loss | $ 157,803 | [1],[6] | $ 162,972 | [4],[6] | $ 784,133 | ||||||
Open Invention Network LLC [Member] | |||||||||||
Principal associates [Abstract] | |||||||||||
Company name | Open Invention Network LLC | ||||||||||
Country of incorporation and principal place of business | USA | ||||||||||
Proportion held | 14.30% | 12.50% | 12.50% | 12.50% | 14.30% | 12.50% | |||||
Principal activities | Sale and support of software | ||||||||||
Financial information of associates [Abstract] | |||||||||||
Non-current assets | $ 43,649 | $ 43,649 | $ 38,206 | ||||||||
Current assets | 50,137 | 50,137 | 41,672 | ||||||||
Current liabilities | (604) | (604) | (672) | ||||||||
Non-current liabilities | (527) | (527) | (1,028) | ||||||||
Total assets | 92,655 | 92,655 | 78,178 | ||||||||
Equity | $ (92,655) | (92,655) | (78,178) | ||||||||
Revenue | 0 | 0 | |||||||||
Net loss | $ 16,212 | $ 14,477 | |||||||||
Loss attributable to the Group for the period ended 30 September 2018 (March 31, 2017 (14.3% ownership to June 6, 2016, 12.5% thereafter)) | $ 2,095 | $ 1,810 | |||||||||
Adjustment on estimated October 31, 2018 result attributable to the Group (April 30, 2017) | 125 | (1) | |||||||||
Loss attributable to the Group for the period ended October 31, 2018 (April 30, 2017 (14.3% ownership to June 6, 2016, 12.5% thereafter)) | $ 2,220 | $ 1,809 | |||||||||
Percentage of interest in associates | 14.30% | 12.50% | 12.50% | 12.50% | 14.30% | 12.50% | |||||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||||
[2] | The comparatives for the 12 months to 30 April 2017 and 30 April 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||||
[3] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||||||||
[5] | The comparatives for the 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||||
[6] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Other non-current assets (Detai
Other non-current assets (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Other non-current assets [Abstract] | ||
Employee Benefit Deposit | $ 31,132 | $ 0 |
Long-term rent deposits | 4,140 | 2,844 |
Long Term Prepaid Expenses | 2,893 | 0 |
Other | 625 | 249 |
Other non-current assets | 38,790 | $ 3,093 |
Germany [Member] | ||
Other non-current assets [Abstract] | ||
Employee Benefit Deposit | 15,400 | |
Israel [Member] | ||
Other non-current assets [Abstract] | ||
Employee Benefit Deposit | 10,200 | |
Italy [Member] | ||
Other non-current assets [Abstract] | ||
Employee Benefit Deposit | 2,700 | |
Netherlands [Member] | ||
Other non-current assets [Abstract] | ||
Employee Benefit Deposit | $ 2,800 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Inventories [Abstract] | |||
Work in progress | $ 13 | $ 0 | |
Finished goods | 51 | 204 | |
Inventories | 64 | 204 | |
Inventory utilized included in cost of sales | $ 100 | $ 100 | $ 300 |
Trade and other receivables (De
Trade and other receivables (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Oct. 31, 2018 | Apr. 30, 2016 | |
Trade and other receivables [Abstract] | |||
Trade receivables | $ 266,225 | $ 1,089,589 | |
Less: provision for impairment of trade receivables | (2,599) | (41,860) | $ (4,486) |
Trade receivables net | 263,626 | 1,047,729 | |
Prepayments | 23,239 | 59,966 | |
Other receivables | 1,534 | 79,062 | |
Accrued income | 1,110 | 85,276 | |
Trade and other receivables | 289,509 | 1,272,033 | |
Trade receivables past due but not impaired | $ 39,900 | $ 249,300 | |
Average age of trade receivables | 24 days | 107 days | |
HPE Software Business [Member] | |||
Trade and other receivables [Abstract] | |||
Less: provision for impairment of trade receivables | $ (21,500) |
Trade and other receivables, Ag
Trade and other receivables, Ageing of Impairment (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Ageing of impairment on trade receivables [Abstract] | |||
Provision for impairment of trade receivables | $ 41,860 | $ 2,599 | $ 4,486 |
Up to Three Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Provision for impairment of trade receivables | 0 | 48 | |
Three to Four Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Provision for impairment of trade receivables | 3,621 | 731 | |
Over Four Months [Member] | |||
Ageing of impairment on trade receivables [Abstract] | |||
Provision for impairment of trade receivables | $ 38,239 | $ 1,820 |
Trade and other receivables, Pr
Trade and other receivables, Provision for Impairment (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017 | Oct. 31, 2018 | |
Provision for Impairment of Trade Receivables [Abstract] | ||
Beginning balance | $ 4,486 | $ 2,599 |
Provision for receivables impairment | 2,023 | 40,016 |
Receivables written off as uncollectable | (1,271) | (686) |
Receivables previously provided for but now collected | (2,542) | (53) |
Exchange adjustments | (97) | (16) |
Ending balance | $ 2,599 | $ 41,860 |
Cash and cash equivalents (Deta
Cash and cash equivalents (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2015 |
Cash and cash equivalents [Abstract] | ||||
Cash at bank and in hand | $ 387,115 | $ 146,832 | ||
Short-term bank deposits | 236,687 | 4,151 | ||
Cash equivalents | 623,802 | 150,983 | $ 667,178 | |
Reclassification to current assets classified as held for sale | (2,906) | 0 | 0 | |
Cash and cash equivalents | $ 620,896 | $ 150,983 | $ 667,178 | $ 241,324 |
Cash and cash equivalents, Cred
Cash and cash equivalents, Credit Quality (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2015 |
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | $ 620,896 | $ 150,983 | $ 667,178 | $ 241,324 |
AAA [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 231,517 | 33,057 | ||
AA- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 80,975 | 69,814 | ||
A+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 260,404 | 25,221 | ||
A [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 20,063 | 6,355 | ||
A- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 3,767 | 5,820 | ||
BBB+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 4,546 | 471 | ||
BBB [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 994 | 903 | ||
BBB- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 558 | 165 | ||
BB+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 2,042 | 357 | ||
BB [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 32 | 283 | ||
BB- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 15,187 | 8,221 | ||
B+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 0 | 24 | ||
CCC+ [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 212 | 193 | ||
C- [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | 321 | 0 | ||
Not Rated [Member] | ||||
Credit quality of cash and cash equivalents [Abstract] | ||||
Cash and cash equivalents | $ 278 | $ 99 |
Discontinued operation and as_3
Discontinued operation and assets classified as held for sale, Discontinued Operation - SUSE Business Segment (Details) - USD ($) $ in Millions | Aug. 21, 2018 | Oct. 31, 2018 |
Discontinued operation [Abstract] | ||
Cash consideration | $ 2,535 | |
SUSE [Member] | ||
Discontinued operation [Abstract] | ||
Cash consideration | $ 2,535 | |
Estimated net sale proceeds after tax and customary closing adjustments | $ 2,060 |
Discontinued operation and as_4
Discontinued operation and assets classified as held for sale, Discontinued Operation - Financial Performance (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Discontinued operation - Financial performance [Abstract] | |||||
Revenue | $ 1,077,273 | [1],[2],[3] | $ 991,233 | [2],[4],[5] | $ 4,754,398 |
Profit/(loss) before tax | 131,547 | [1],[6] | 149,848 | [4],[6] | 34,112 |
Profit for the period from discontinued operation | 33,720 | [1],[6],[7] | 26,993 | [4],[6],[7] | 76,940 |
Discontinued Operations [Member] | |||||
Discontinued operation - Financial performance [Abstract] | |||||
Revenue | 303,429 | 253,816 | 538,160 | ||
Operating costs | (238,632) | (208,268) | (427,014) | ||
Profit/(loss) before tax | 64,797 | 45,548 | 111,146 | ||
Taxation | (31,077) | (18,615) | (34,206) | ||
Profit for the period from discontinued operation | 33,720 | 26,933 | 76,940 | ||
Discontinued operation - Cash flow [Abstract] | |||||
Net cash inflows from operating activities | 70,411 | 66,107 | 136,058 | ||
Net cash outflows from investing activities | (7,430) | (1,298) | (2,512) | ||
Net cash flows from financing activities | $ 0 | $ 0 | $ 0 | ||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to 30 April 2017 and 30 April 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) | ||||
[5] | The comparatives for the 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[6] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[7] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Discontinued operation and as_5
Discontinued operation and assets classified as held for sale, Net Assets Classified as Held for Sale (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Net Assets classified as held for sale [Abstract] | ||
Current assets | $ 16,780,555 | $ 4,437,704 |
Current liabilities | (8,988,575) | (2,824,214) |
Net Assets classified as held for sale | 7,791,980 | $ 1,613,490 |
Discontinued Operations [Member] | ||
Net Assets classified as held for sale [Abstract] | ||
Current assets | 1,142,451 | |
Current liabilities | (437,699) | |
Net Assets classified as held for sale | 704,752 | |
SUSE [Member] | ||
Net Assets classified as held for sale [Abstract] | ||
Current assets | 1,114,264 | |
Current liabilities | (427,236) | |
Net Assets classified as held for sale | 687,028 | |
Atalla [Member] | ||
Net Assets classified as held for sale [Abstract] | ||
Current assets | 28,187 | |
Current liabilities | (10,463) | |
Net Assets classified as held for sale | $ 17,724 |
Discontinued operation and as_6
Discontinued operation and assets classified as held for sale, Assets and Liabilities Relating to SUSE (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2015 |
Non-current assets [Abstract] | ||||
Goodwill | $ 6,805,043 | $ 2,828,604 | $ 2,436,168 | |
Other Intangible assets | 6,629,325 | 1,089,370 | 966,555 | |
Property, plant and equipment | 144,250 | 40,956 | 40,867 | |
Investment in associates | 0 | 11,457 | ||
Deferred tax assets | 0 | 0 | ||
Long-term pension assets | 16,678 | 22,031 | ||
Other non-current assets | 38,790 | 3,093 | ||
Total non-current assets | 13,720,467 | 3,995,511 | ||
Current assets [Abstract] | ||||
Trade and other receivables | 1,272,033 | 289,509 | ||
Cash and cash equivalents | 620,896 | 150,983 | $ 667,178 | $ 241,324 |
Total current assets | 3,060,088 | 442,193 | ||
Total assets | 16,780,555 | 4,437,704 | ||
Current liabilities [Abstract] | ||||
Trade and other payables | (676,917) | (170,042) | ||
Provisions | (57,411) | (20,142) | ||
Current tax liabilities | (124,071) | (42,679) | ||
Deferred income | (1,134,730) | (640,650) | ||
Total current liabilities | (2,448,090) | (944,697) | ||
Non-current liabilities [Abstract] | ||||
Deferred income | (178,064) | (223,786) | ||
Retirement benefit obligations | (110,351) | (30,773) | ||
Long-term provisions | (35,421) | (11,937) | ||
Other non-current liabilities | (58,011) | (4,191) | ||
Total non-current liabilities | (6,540,485) | (1,879,517) | ||
Total liabilities | (8,988,575) | (2,824,214) | ||
Net assets classified as held for sale | 1,142,451 | $ 0 | ||
Discontinued Operations [Member] | ||||
Current assets [Abstract] | ||||
Total assets | 1,142,451 | |||
Non-current liabilities [Abstract] | ||||
Total liabilities | (437,699) | |||
SUSE [Member] | ||||
Non-current assets [Abstract] | ||||
Goodwill | 859,566 | |||
Other Intangible assets | 165,662 | |||
Property, plant and equipment | 5,786 | |||
Investment in associates | 9,648 | |||
Deferred tax assets | 1,586 | |||
Long-term pension assets | 1,543 | |||
Other non-current assets | 2,020 | |||
Total non-current assets | 1,045,811 | |||
Current assets [Abstract] | ||||
Trade and other receivables | 65,547 | |||
Cash and cash equivalents | 2,906 | |||
Total current assets | 68,453 | |||
Total assets | 1,114,264 | |||
Current liabilities [Abstract] | ||||
Trade and other payables | (37,833) | |||
Provisions | (664) | |||
Current tax liabilities | (1,156) | |||
Deferred income | (218,349) | |||
Total current liabilities | (258,002) | |||
Non-current liabilities [Abstract] | ||||
Deferred income | (160,791) | |||
Retirement benefit obligations | (5,530) | |||
Long-term provisions | (2,376) | |||
Other non-current liabilities | (537) | |||
Total non-current liabilities | (169,234) | |||
Total liabilities | (427,236) | |||
Net assets classified as held for sale | $ 687,028 |
Discontinued operation and as_7
Discontinued operation and assets classified as held for sale, Assets and Liabilities Relating to Atalla (Details) - USD ($) $ in Thousands | Nov. 05, 2018 | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Cash consideration | $ 2,535,000 | |||
Non-current assets [Abstract] | ||||
Goodwill | 6,805,043 | $ 2,828,604 | $ 2,436,168 | |
Property, plant and equipment | 144,250 | 40,956 | $ 40,867 | |
Total non-current assets | 13,720,467 | 3,995,511 | ||
Current liabilities [Abstract] | ||||
Deferred income | (1,134,730) | (640,650) | ||
Total current liabilities | (2,448,090) | $ (944,697) | ||
Atalla [Member] | ||||
Non-current assets [Abstract] | ||||
Goodwill | 27,957 | |||
Property, plant and equipment | 230 | |||
Total non-current assets | 28,187 | |||
Current liabilities [Abstract] | ||||
Deferred income | (10,463) | |||
Total current liabilities | (10,463) | |||
Net assets classified as held for sale | $ 17,724 | |||
Atalla [Member] | ||||
Disclosure of analysis of single amount of discontinued operations [line items] | ||||
Cash consideration | $ 20,000 |
Trade and other payables - cu_3
Trade and other payables - current (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Trade and other payables - current [Abstract] | ||
Trade payables | $ 46,096 | $ 16,891 |
Tax and social security | 46,525 | 3,032 |
Accruals | 584,296 | 150,119 |
Total trade and other payables | 676,917 | $ 170,042 |
Vacation, payroll and employee taxes | 147,000 | |
Commission and employee bonuses | 162,700 | |
Integration expenses | 44,500 | |
Consulting and audit fees | $ 30,300 |
Borrowings, Details of Borrowin
Borrowings, Details of Borrowings (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Disclosure of detailed information about borrowings [abstract] | |||
Current borrowings | $ 3,702 | $ 71,184 | |
Non-current liabilities | 4,842,178 | 1,490,352 | |
Borrowings | 4,845,880 | 1,561,536 | |
Unamortized prepaid facility arrangement fees and original issue discounts, current | (46,645) | (12,604) | |
Unamortized prepaid facility arrangement fees and original issue discounts, noncurrent | (104,388) | (21,048) | |
Unamortized prepaid facility arrangement fees and original issue discounts | (151,033) | (33,652) | |
Bank Loan Secured [Member] | |||
Disclosure of detailed information about borrowings [abstract] | |||
Current borrowings | 50,347 | 83,788 | |
Non-current liabilities | 4,946,566 | 1,511,400 | |
Borrowings | $ 4,996,913 | $ 1,595,188 | $ 1,787,250 |
Borrowings, Facilities (Details
Borrowings, Facilities (Details) $ in Thousands, € in Millions | 18 Months Ended | |||
Oct. 31, 2018USD ($) | Oct. 31, 2018EUR (€) | Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | |
Borrowing facilities [Abstract] | ||||
Borrowings | $ 4,845,880 | $ 1,561,536 | ||
Bottom of Range [Member] | ||||
Borrowing facilities [Abstract] | ||||
Aggregate net leverage covenant percentage | 35.00% | |||
LIBOR [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowing interest rate floor | 1.00% | 1.00% | ||
Bank Loan Secured [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 4,996,913 | 1,595,188 | $ 1,787,250 | |
Senior Secured Term Loan B-2 by MA FinanceCO LLC [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 1,503,824 | 1,515,188 | 0 | |
Senior Secured Term Loan B-2 by MA FinanceCO LLC [Member] | LIBOR [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings, interest rate | 2.25% | 2.25% | ||
Borrowing interest rate floor | 0.00% | 0.00% | ||
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 2,580,500 | 0 | 0 | |
Borrowings, maturity | P7Y | |||
Original discount rate on debt issuance | 0.25% | 0.25% | ||
Senior Secured Term Loan B by Seattle SpinCo. Inc [Member] | LIBOR [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings, interest rate | 2.50% | 2.50% | ||
Borrowing interest rate floor | 0.00% | 0.00% | ||
Senior Secured Term Loan B-3 by MA FinanceCo LLC [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 382,112 | 0 | 0 | |
Borrowings, maturity | P7Y | |||
Original discount rate on debt issuance | 0.25% | 0.25% | ||
Senior Secured Term Loan B-3 by MA FinanceCo LLC [Member] | LIBOR [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings, interest rate | 2.50% | 2.50% | ||
Borrowing interest rate floor | 0.00% | 0.00% | ||
Senior Secured Term Loan B by MA FinanceCo LLC [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 530,500 | € 466.5 | ||
Borrowings, maturity | P7Y | |||
Original discount rate on debt issuance | 0.25% | 0.25% | ||
Senior Secured Term Loan B by MA FinanceCo LLC [Member] | EURIBOR [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings, interest rate | 2.75% | 2.75% | ||
Borrowing interest rate floor | 0.00% | 0.00% | ||
Revolving Credit Facility [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 0 | $ 80,000 | $ 225,000 | |
Undrawn amount on borrowing facilities | $ 500,000 | |||
Interest rate on undrawn borrowings amount | 0.375% | 0.375% | ||
Revolving Credit Facility [Member] | LIBOR [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings, interest rate | 3.25% | 3.25% | ||
Borrowing interest rate floor | 0.00% | 0.00% | ||
Term Loans [Member] | ||||
Borrowing facilities [Abstract] | ||||
Borrowings | $ 4,996,900 |
Borrowings, Movements on Groups
Borrowings, Movements on Groups Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | $ 1,561,536 | ||
Draw downs | $ 180,000 | $ 245,000 | 1,043,815 |
Repayments | (372,062) | (157,750) | (252,936) |
Borrowings | 1,561,536 | $ 4,845,880 | |
Bottom of Range [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Facility arrangement costs and debt discounts amortization period | 3 years | ||
Top of Range [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Facility arrangement costs and debt discounts amortization period | 6 years | ||
Bank Loan Secured [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 1,787,250 | $ 1,595,188 | |
Acquisitions | 2,600,000 | ||
Draw downs | 180,000 | 1,043,815 | |
Repayments | (372,062) | (252,936) | |
Foreign exchange | 10,846 | ||
Transfer | 0 | ||
Borrowings | 1,595,188 | 1,787,250 | 4,996,913 |
Term Loan B-2 [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 0 | 1,515,188 | |
Acquisitions | 0 | ||
Draw downs | 0 | 0 | |
Repayments | 0 | (11,364) | |
Foreign exchange | 0 | ||
Transfer | 1,515,188 | ||
Borrowings | 1,515,188 | 0 | 1,503,824 |
Term loan B [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 1,112,250 | 0 | |
Acquisitions | 0 | ||
Draw downs | 0 | 0 | |
Repayments | (9,562) | 0 | |
Foreign exchange | 0 | ||
Transfer | (1,102,688) | ||
Borrowings | 0 | 1,112,250 | 0 |
Term Loan C [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 450,000 | 0 | |
Acquisitions | 0 | ||
Draw downs | 0 | 0 | |
Repayments | (37,500) | 0 | |
Foreign exchange | 0 | ||
Transfer | (412,500) | ||
Borrowings | 0 | 450,000 | 0 |
Term Loan B-3 [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 0 | 0 | |
Acquisitions | 0 | ||
Draw downs | 0 | 385,000 | |
Repayments | 0 | (2,888) | |
Foreign exchange | 0 | ||
Transfer | 0 | ||
Borrowings | 0 | 0 | 382,112 |
Seattle Spinco Term Loan B [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 0 | 0 | |
Acquisitions | 2,600,000 | ||
Draw downs | 0 | 0 | |
Repayments | 0 | (19,500) | |
Foreign exchange | 0 | ||
Transfer | 0 | ||
Borrowings | 0 | 0 | 2,580,500 |
Euro Term Loan B [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 0 | 0 | |
Acquisitions | 0 | ||
Draw downs | 0 | 523,815 | |
Repayments | 0 | (4,184) | |
Foreign exchange | 10,846 | ||
Transfer | 0 | ||
Borrowings | 0 | 0 | 530,477 |
Revolving Facility [Member] | |||
Borrowings, movements on groups loans [Abstract] | |||
Borrowings | 225,000 | 80,000 | |
Acquisitions | 0 | ||
Draw downs | 180,000 | 135,000 | |
Repayments | (325,000) | (215,000) | |
Foreign exchange | 0 | ||
Transfer | 0 | ||
Borrowings | $ 80,000 | $ 225,000 | $ 0 |
Borrowings, Maturity of Borrowi
Borrowings, Maturity of Borrowings (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Borrowings, maturities [Abstract] | ||
Borrowings maturity | $ 6,079,274 | $ 1,850,038 |
Within One Year [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 277,918 | 140,168 |
In One to Two Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 276,234 | 71,181 |
In Two to Three Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 273,315 | 70,769 |
In Three to Four Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 1,650,872 | 70,053 |
In Four to Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 187,214 | 1,497,867 |
In More Than Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 3,413,721 | |
Term Loan B-2 [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 1,713,027 | 1,770,038 |
Term Loan B-2 [Member] | Within One Year [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 84,294 | 60,168 |
Term Loan B-2 [Member] | In One to Two Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 83,782 | 71,181 |
Term Loan B-2 [Member] | In Two to Three Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 82,895 | 70,769 |
Term Loan B-2 [Member] | In Three to Four Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 1,462,056 | 70,053 |
Term Loan B-2 [Member] | In Four to Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | 1,497,867 |
Term Loan B-2 [Member] | In More Than Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | |
Term Loan B-3 [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 484,257 | |
Term Loan B-3 [Member] | Within One Year [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 22,383 | |
Term Loan B-3 [Member] | In One to Two Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 22,246 | |
Term Loan B-3 [Member] | In Two to Three Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 22,009 | |
Term Loan B-3 [Member] | In Three to Four Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 21,821 | |
Term Loan B-3 [Member] | In Four to Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 21,634 | |
Term Loan B-3 [Member] | In More Than Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 374,164 | |
Seattle Spinco Term Loan B [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 3,270,304 | |
Seattle Spinco Term Loan B [Member] | Within One Year [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 151,161 | |
Seattle Spinco Term Loan B [Member] | In One to Two Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 150,235 | |
Seattle Spinco Term Loan B [Member] | In Two to Three Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 148,629 | |
Seattle Spinco Term Loan B [Member] | In Three to Four Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 147,363 | |
Seattle Spinco Term Loan B [Member] | In Four to Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 146,097 | |
Seattle Spinco Term Loan B [Member] | In More Than Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 2,526,819 | |
Euro Term Loan B [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 611,686 | |
Euro Term Loan B [Member] | Within One Year [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 20,080 | |
Euro Term Loan B [Member] | In One to Two Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 19,971 | |
Euro Term Loan B [Member] | In Two to Three Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 19,782 | |
Euro Term Loan B [Member] | In Three to Four Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 19,632 | |
Euro Term Loan B [Member] | In Four to Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 19,483 | |
Euro Term Loan B [Member] | In More Than Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 512,738 | |
Revolving Facility [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | 80,000 |
Revolving Facility [Member] | Within One Year [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | 80,000 |
Revolving Facility [Member] | In One to Two Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | 0 |
Revolving Facility [Member] | In Two to Three Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | 0 |
Revolving Facility [Member] | In Three to Four Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | 0 |
Revolving Facility [Member] | In Four to Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | 0 | $ 0 |
Revolving Facility [Member] | In More Than Five Years [Member] | ||
Borrowings, maturities [Abstract] | ||
Borrowings maturity | $ 0 |
Finance leases (Details)
Finance leases (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Finance leases [Abstract] | ||
Current | $ 13,560 | $ 0 |
Non-current | 14,923 | 0 |
Finance lease liabilities | 28,483 | 0 |
Finance lease liabilities minimum lease payments [Abstract] | ||
Minimum lease payments | 31,120 | 0 |
Future lease charges | (2,637) | 0 |
Present value of minimum lease payments | 28,483 | 0 |
Carrying value of computer equipment held under finance leases and hire purchase contracts | $ 25,900 | $ 0 |
Weighted average fixed interest rate on the outstanding commercial loan and finance lease liabilities | 8.50% | 0.00% |
Within One Year [Member] | ||
Finance lease liabilities minimum lease payments [Abstract] | ||
Minimum lease payments | $ 15,136 | $ 0 |
Present value of minimum lease payments | 13,560 | 0 |
Between One and Five Years [Member] | ||
Finance lease liabilities minimum lease payments [Abstract] | ||
Minimum lease payments | 15,984 | 0 |
Present value of minimum lease payments | $ 14,923 | $ 0 |
Current tax receivables, curr_3
Current tax receivables, current tax liabilities and non-current liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Current tax receivables [Abstract] | ||
Corporation tax | $ 24,504 | $ 1,637 |
Current tax liabilities [Abstract] | ||
Corporation tax | 124,071 | 42,679 |
Income tax reserve included in current tax liabilities | 67,700 | |
Non-current tax liabilities [Abstract] | ||
Corporation tax | $ 131,048 | $ 0 |
Deferred income - current (Deta
Deferred income - current (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Deferred income - current [Abstract] | ||
Deferred income | $ 1,134,730 | $ 640,650 |
Deferred income - non-current_2
Deferred income - non-current (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Deferred income - non-current [Abstract] | ||
Deferred income | $ 178,064 | $ 223,786 |
Provisions (Details)
Provisions (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 |
Provisions [Abstract] | |||
Current provisions | $ 57,411 | $ 20,142 | |
Non-current provisions | 35,421 | 11,937 | |
Provisions | 92,832 | 32,079 | $ 24,899 |
Onerous Leases and Dilapidations [Member] | |||
Provisions [Abstract] | |||
Current provisions | 11,219 | 4,406 | |
Non-current provisions | 23,886 | 11,837 | |
Provisions | 35,105 | 16,243 | 18,176 |
Restructuring and Integration [Member] | |||
Provisions [Abstract] | |||
Current provisions | 39,154 | 12,132 | |
Non-current provisions | 11,535 | 0 | |
Provisions | 50,689 | 12,132 | 3,523 |
Legal [Member] | |||
Provisions [Abstract] | |||
Current provisions | 7,038 | 3,220 | |
Non-current provisions | 0 | 0 | |
Provisions | 7,038 | 3,220 | 1,920 |
Other [Member] | |||
Provisions [Abstract] | |||
Current provisions | 0 | 384 | |
Non-current provisions | 0 | 100 | |
Provisions | $ 0 | $ 484 | $ 1,280 |
Provisions, Continuing operatio
Provisions, Continuing operations and Discontinued operation (Details) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | Oct. 31, 2018USD ($)Property | Oct. 31, 2018USD ($) | Apr. 30, 2017USD ($) | |
Provisions [Abstract] | |||||
Provisions, beginning balances | $ 24,899 | $ 32,079 | |||
Continuing operations [Abstract] | |||||
Acquisitions | 4,045 | 69,165 | |||
Additional provision in the period | 53,681 | 133,558 | |||
Released | (6,415) | (12,717) | |||
Utilization of provision | (43,476) | $ (56,000) | (145,012) | ||
Exchange adjustments | (655) | (3,219) | |||
Discontinued operation [Abstract] | |||||
Additional provision in the period | 3,040 | ||||
Reclassification of current assets classified as held for sale | (3,040) | ||||
Provisions, ending balances | 32,079 | 24,899 | 92,832 | ||
Current provisions | $ 57,411 | $ 20,142 | |||
Non-current provisions | 35,421 | 11,937 | |||
Provisions | 32,079 | 24,899 | 92,832 | 92,832 | 32,079 |
Onerous Leases and Dilapidations [Member] | |||||
Provisions [Abstract] | |||||
Provisions, beginning balances | 18,176 | 16,243 | |||
Continuing operations [Abstract] | |||||
Acquisitions | 0 | 11,321 | |||
Additional provision in the period | 4,584 | 17,723 | |||
Released | (857) | (3,890) | |||
Utilization of provision | (5,527) | (5,590) | |||
Exchange adjustments | (133) | (702) | |||
Discontinued operation [Abstract] | |||||
Additional provision in the period | 2,835 | ||||
Reclassification of current assets classified as held for sale | (2,835) | ||||
Provisions, ending balances | 16,243 | 18,176 | 35,105 | ||
Current provisions | 11,219 | 4,406 | |||
Non-current provisions | 23,886 | 11,837 | |||
Provisions | 16,243 | 18,176 | $ 16,243 | 35,105 | 16,243 |
Onerous leases and dilapidations provisions [Abstract] | |||||
Term of onerous lease and dilapidations provision relates is expected to be fully utilized | 8 years | ||||
Increase in provisions | $ 29,000 | ||||
Onerous Leases and Dilapidations [Member] | North America [Member] | |||||
Onerous leases and dilapidations provisions [Abstract] | |||||
Number of properties released | Property | 2 | ||||
Restructuring and Integration [Member] | |||||
Provisions [Abstract] | |||||
Provisions, beginning balances | 3,523 | $ 12,132 | |||
Continuing operations [Abstract] | |||||
Acquisitions | 1,201 | 21,398 | |||
Additional provision in the period | 48,498 | 133,421 | |||
Released | (2,886) | (3,678) | |||
Utilization of provision | (37,712) | (110,062) | |||
Exchange adjustments | (492) | (2,522) | |||
Discontinued operation [Abstract] | |||||
Additional provision in the period | 205 | ||||
Reclassification of current assets classified as held for sale | (205) | ||||
Provisions, ending balances | 12,132 | 3,523 | 50,689 | ||
Current provisions | 39,154 | 12,132 | |||
Non-current provisions | 11,535 | 0 | |||
Provisions | 12,132 | 3,523 | 12,132 | 50,689 | 12,132 |
Legal [Member] | |||||
Provisions [Abstract] | |||||
Provisions, beginning balances | 1,920 | 3,220 | |||
Continuing operations [Abstract] | |||||
Acquisitions | 2,844 | 36,446 | |||
Additional provision in the period | 98 | 1,392 | |||
Released | (1,492) | (4,733) | |||
Utilization of provision | (120) | (29,263) | |||
Exchange adjustments | (30) | (24) | |||
Discontinued operation [Abstract] | |||||
Additional provision in the period | 0 | ||||
Reclassification of current assets classified as held for sale | 0 | ||||
Provisions, ending balances | 3,220 | 1,920 | 7,038 | ||
Current provisions | 7,038 | 3,220 | |||
Non-current provisions | 0 | 0 | |||
Provisions | 3,220 | 1,920 | 7,038 | 7,038 | 3,220 |
Other [Member] | |||||
Provisions [Abstract] | |||||
Provisions, beginning balances | 1,280 | 484 | |||
Continuing operations [Abstract] | |||||
Acquisitions | 0 | 0 | |||
Additional provision in the period | 501 | 0 | |||
Released | (1,180) | (416) | |||
Utilization of provision | (117) | (97) | |||
Exchange adjustments | 0 | 29 | |||
Discontinued operation [Abstract] | |||||
Additional provision in the period | 0 | ||||
Reclassification of current assets classified as held for sale | 0 | ||||
Provisions, ending balances | 484 | 1,280 | 0 | ||
Current provisions | 0 | 384 | |||
Non-current provisions | 0 | 100 | |||
Provisions | $ 484 | $ 1,280 | $ 484 | $ 0 | $ 484 |
Pension commitments, Defined Co
Pension commitments, Defined Contribution (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Continuing operations [Abstract] | |||||
Defined contribution schemes | $ 10,875 | [1],[2] | $ 10,363 | [1],[2] | $ 43,241 |
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Pension commitments, Defined Be
Pension commitments, Defined Benefit (Details) $ in Thousands | Sep. 01, 2017Plan | Apr. 30, 2017USD ($)Plan | Oct. 31, 2018USD ($)CountryPlan |
Within non-current assets [Abstract] | |||
Long-term pension assets | $ | $ 22,031 | $ 16,678 | |
Within non-current liabilities [Abstract] | |||
Retirement benefit obligations | $ | $ (30,773) | $ (110,351) | |
Number of defined benefit plans added | 27 | ||
Number of defined benefit plans | 30 | ||
Number of countries under defined benefit plans | Country | 10 | ||
Number of plans sponsored | 13 | ||
SUSE [Member] | |||
Within non-current assets [Abstract] | |||
Long-term pension assets | $ | $ 1,543 | ||
Within non-current liabilities [Abstract] | |||
Retirement benefit obligations | $ | $ (5,530) | ||
Germany [Member] | |||
Within non-current liabilities [Abstract] | |||
Number of defined benefit plans | 4 | ||
Germany [Member] | SUSE [Member] | |||
Within non-current liabilities [Abstract] | |||
Number of defined benefit plans | 1 |
Pension commitments, Long-term
Pension commitments, Long-term Pension Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017 | Oct. 31, 2018 | |
Pension commitments [Abstract] | ||
Beginning of period | $ 22,272 | $ 22,031 |
Reclassification to assets held for sale | 0 | (1,543) |
Interest on non-plan assets | 404 | 633 |
Benefits paid | (110) | (185) |
Contributions | 442 | 489 |
Included within other comprehensive income [Abstract] | ||
- Change in fair value | 0 | (6,065) |
- Actuarial (loss)/gain on non-plan assets | (2,134) | 278 |
- Reclassification from defined contribution scheme to defined benefit scheme | 2,264 | 0 |
Long-term pension asset, included in other comprehensive income | 130 | (5,787) |
Foreign currency exchange (loss)/gain | (1,107) | 1,040 |
End of period | 22,031 | 16,678 |
Included within other comprehensive income [Abstract] | ||
Continuing operations | 318 | (5,258) |
Discontinued operation | (188) | (529) |
Long-term pension asset, included in other comprehensive income | $ 130 | $ (5,787) |
Pension commitments, Retirement
Pension commitments, Retirement Benefit Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | [1] | Oct. 31, 2018 | ||
Defined benefit pension arrangements [Abstract] | |||||
Current service charge | $ 504 | [1] | $ 613 | $ 12,627 | |
Past service credit | 0 | [1] | 0 | (5,489) | |
Charge to operating profit | 504 | [1] | 613 | 7,138 | |
Current service charge - discontinued operations | 121 | [1] | 147 | 268 | |
Interest on pension scheme liabilities | 660 | [1] | 546 | 5,253 | |
Interest on pension scheme assets | (95) | [1] | (79) | (2,430) | |
Charge to finance costs | 565 | [1] | 467 | 2,823 | |
Total charge to consolidated statement of comprehensive income | 1,190 | [1] | $ 1,227 | 10,229 | |
Movements in equity [Abstract] | |||||
Actuarial return on assets excluding amounts included in interest income | 9 | 621 | |||
Re-measurements - actuarial (gains) and losses [Abstract] | |||||
Demographic | 0 | 332 | |||
Financial | 2,821 | (11,104) | |||
Experience | 568 | 1,858 | |||
Re-measurements - actuarial (gains) and losses | 3,389 | (8,914) | |||
Reclassification from defined contribution scheme to defined benefit scheme | (2,996) | (2,121) | |||
Movement in the period / year | 402 | (10,414) | |||
Continuing operations | (217) | (8,949) | |||
Discontinued operation | 619 | (1,465) | |||
Movements in equity | $ 402 | $ (10,414) | |||
[1] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Pension commitments, Weighted A
Pension commitments, Weighted Average Key Assumptions and Average Life Expectancy (Details) $ in Millions | Oct. 31, 2018USD ($)Employee | Sep. 01, 2017 | Apr. 30, 2017USD ($)Employee |
Weighted average key assumptions [Abstract] | |||
Rate of increase in final pensionable salary | 2.61% | 2.32% | 2.00% |
Rate of increase in pension payments | 1.99% | 1.75% | 2.00% |
Discount rate | 1.92% | 1.95% | 1.95% |
Inflation | 1.89% | 1.61% | 2.00% |
Discount Rate [Member] | |||
Weighted average key assumptions [Abstract] | |||
Discount rate | 10.50% | ||
Retiring 15 years after the end of the reporting period [Abstract] | |||
Percentage of reasonably possible increase in actuarial assumption | 0.50% | ||
Inflation [Member] | |||
Weighted average key assumptions [Abstract] | |||
Inflation | 2.90% | ||
Retiring 15 years after the end of the reporting period [Abstract] | |||
Percentage of reasonably possible increase in actuarial assumption | 0.25% | ||
Average Life Expectancy [Member] | |||
Retiring at age 65 at the end of the reporting period [Abstract] | |||
Male | Employee | 20 | 19 | |
Female | Employee | 23 | 23 | |
Retiring 15 years after the end of the reporting period [Abstract] | |||
Male | Employee | 22 | 19 | |
Female | Employee | 25 | 24 | |
+0.5% Increase [Member] | Discount Rate [Member] | |||
Weighted average key assumptions [Abstract] | |||
Defined benefit obligation | $ (23.1) | $ (3.9) | |
-0.5% Decrease [Member] | Discount Rate [Member] | |||
Weighted average key assumptions [Abstract] | |||
Defined benefit obligation | 26.9 | 4.5 | |
+0.25% Increase [Member] | Inflation [Member] | |||
Weighted average key assumptions [Abstract] | |||
Defined benefit obligation | 6.4 | 1.3 | |
-0.25% Decrease [Member] | Inflation [Member] | |||
Weighted average key assumptions [Abstract] | |||
Defined benefit obligation | (6) | (1.2) | |
One Year Increase [Member] | Average Life Expectancy [Member] | |||
Weighted average key assumptions [Abstract] | |||
Defined benefit obligation | $ 7.9 | $ 1.1 | |
Retiring 15 years after the end of the reporting period [Abstract] | |||
Percentage of reasonably possible increase in actuarial assumption | 3.60% | 2.90% |
Pension commitments, Defined _2
Pension commitments, Defined Benefit Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | ||||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | ||||
Net liability [Abstract] | ||||||
Present value of funded obligations | $ 221,208 | |||||
Fair value of plan assets | [1] | (110,857) | ||||
Net liability | 110,351 | |||||
Defined Benefit Obligations [Abstract] | ||||||
Current service cost | $ 504 | [2] | $ 613 | [2] | 12,627 | |
Contributions by plan participants | (442) | (489) | ||||
Re-measurements - actuarial (gains) and losses [Abstract] | ||||||
Experience | (3,389) | 8,914 | ||||
Foreign currency exchange changes | (1,107) | 1,040 | ||||
Funded [Member] | ||||||
Net liability [Abstract] | ||||||
Present value of funded obligations | 36,480 | 213,305 | ||||
Fair value of plan assets | (5,707) | (110,857) | ||||
Net liability | 30,773 | 102,448 | ||||
Unfunded [Member] | ||||||
Net liability [Abstract] | ||||||
Present value of funded obligations | 7,903 | |||||
Fair value of plan assets | 0 | |||||
Net liability | 7,903 | |||||
Defined Benefit Obligations [Member] | ||||||
Defined Benefit Obligations [Abstract] | ||||||
Beginning of period | [3] | 37,524 | 36,480 | |||
HPE Software business acquisition (note 39) | 0 | [3] | 181,455 | |||
Reclassification to assets held for sale | 0 | [3] | (9,125) | |||
Current service cost | 625 | [3] | 12,895 | |||
Past service credit | (5,489) | |||||
Benefits paid | (197) | [3] | (9,603) | |||
Contributions by plan participants | 0 | [3] | 2,547 | |||
Contribution by employer | 0 | [3] | 0 | |||
Interest cost/(income) | 660 | [3] | 5,253 | |||
Re-measurements - actuarial (gains) and losses [Abstract] | ||||||
Demographic | 0 | [3] | (332) | |||
Financial | (2,821) | [3] | 11,104 | |||
Experience | (568) | [3] | (1,858) | |||
Actuarial return on assets excluding amounts included in interest income | 0 | [3] | 0 | |||
Reclassification from defined contribution scheme to defined benefit scheme | 2,996 | [3] | 5,472 | |||
Total increase (decrease) in net defined benefit liability (asset) | (393) | [3] | 14,386 | |||
Foreign currency exchange changes | (1,739) | [3] | (7,591) | |||
End of period | 36,480 | [3] | 37,524 | [3] | 221,208 | |
Scheme Assets [Member] | ||||||
Defined Benefit Obligations [Abstract] | ||||||
Beginning of period | [3] | (5,855) | (5,707) | |||
HPE Software business acquisition (note 39) | 0 | [3] | (110,010) | |||
Reclassification to assets held for sale | 0 | [3] | 3,595 | |||
Current service cost | 0 | [3] | 0 | |||
Past service credit | 0 | |||||
Benefits paid | 87 | [3] | 9,406 | |||
Contributions by plan participants | (114) | [3] | (2,313) | |||
Contribution by employer | 0 | [3] | (4,012) | |||
Interest cost/(income) | (95) | [3] | (2,430) | |||
Re-measurements - actuarial (gains) and losses [Abstract] | ||||||
Demographic | 0 | [3] | 0 | |||
Financial | 0 | [3] | 0 | |||
Experience | 0 | [3] | 0 | |||
Actuarial return on assets excluding amounts included in interest income | (9) | [3] | (621) | |||
Reclassification from defined contribution scheme to defined benefit scheme | 0 | [3] | (3,351) | |||
Total increase (decrease) in net defined benefit liability (asset) | (9) | [3] | (3,972) | |||
Foreign currency exchange changes | 279 | [3] | 4,586 | |||
End of period | (5,707) | [3] | (5,855) | [3] | (110,857) | |
Retirement Benefit Obligations [Member] | ||||||
Defined Benefit Obligations [Abstract] | ||||||
Beginning of period | [3] | 31,669 | 30,773 | |||
HPE Software business acquisition (note 39) | 0 | [3] | 71,445 | |||
Reclassification to assets held for sale | 0 | [3] | (5,530) | |||
Current service cost | 625 | [3] | 12,895 | |||
Past service credit | (5,489) | |||||
Benefits paid | (110) | [3] | (197) | |||
Contributions by plan participants | (114) | [3] | 234 | |||
Contribution by employer | 0 | [3] | (4,012) | |||
Interest cost/(income) | 565 | [3] | 2,823 | |||
Re-measurements - actuarial (gains) and losses [Abstract] | ||||||
Demographic | 0 | [3] | (332) | |||
Financial | (2,821) | [3] | 11,104 | |||
Experience | (568) | [3] | (1,858) | |||
Actuarial return on assets excluding amounts included in interest income | (9) | [3] | (621) | |||
Reclassification from defined contribution scheme to defined benefit scheme | 2,996 | [3] | 2,121 | |||
Total increase (decrease) in net defined benefit liability (asset) | (402) | [3] | 10,414 | |||
Foreign currency exchange changes | (1,460) | [3] | (3,005) | |||
End of period | $ 30,773 | [3] | $ 31,669 | [3] | $ 110,351 | |
[1] | The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. | |||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||
[3] | The comparatives for the 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Pension commitments, Major Cate
Pension commitments, Major Categories of Plan Assets (Details) - USD ($) $ in Thousands | 18 Months Ended | ||
Oct. 31, 2018 | Apr. 30, 2017 | ||
Major categories of plan assets [Abstract] | |||
Equity instruments | [1] | $ 51,514 | |
Debt instruments | [1] | 42,488 | |
Real estate | [1] | 2,058 | |
Cash and cash equivalents | [1] | 2,325 | |
Re-insurance contracts with guaranteed interest rates | [1] | 5,486 | |
Other | [1] | 6,986 | |
Total | [1] | $ 110,857 | |
Interest rate for majority re-insurance contracts | 4.00% | ||
Re-insurance assets value | $ 16,600 | $ 22,100 | |
Bottom of Range [Member] | |||
Major categories of plan assets [Abstract] | |||
Interest rate for remaining re-insurance contracts | 2.75% | ||
Top of Range [Member] | |||
Major categories of plan assets [Abstract] | |||
Interest rate for remaining re-insurance contracts | 3.25% | ||
Quoted [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | [1] | $ 49,890 | |
Debt instruments | [1] | 37,419 | |
Real estate | [1] | 1,987 | |
Cash and cash equivalents | [1] | 0 | |
Re-insurance contracts with guaranteed interest rates | [1] | 0 | |
Other | [1] | 0 | |
Total | [1] | 89,296 | |
Unquoted [Member] | |||
Major categories of plan assets [Abstract] | |||
Equity instruments | [1] | 1,624 | 0 |
Debt instruments | [1] | 5,069 | 0 |
Real estate | [1] | 71 | 0 |
Cash and cash equivalents | [1] | 2,325 | 0 |
Re-insurance contracts with guaranteed interest rates | [1] | 5,486 | 5,707 |
Other | [1] | 6,986 | 0 |
Total | [1] | $ 21,561 | $ 5,707 |
[1] | The majority of the re-insurance contracts have guaranteed interest rates of 4.0%, with the remaining at 3.25% or 2.75%. |
Pension commitments, Sensitivit
Pension commitments, Sensitivities (Details) - yr | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Oct. 31, 2018 | Sep. 01, 2017 | |
Sensitivities [Abstract] | |||
Weighted average duration of defined benefit obligation | 22 | ||
Discount rate for scheme liabilities | (1.95%) | (1.92%) | (1.95%) |
Price inflation | 2.00% | 1.89% | 1.61% |
Salary growth rate | 2.00% | 2.61% | 2.32% |
Increase in assumed life expectancy | 1 year | ||
Percentage of increase in defined benefit obligation due to increase in life expectancy | 2.90% | 3.60% | |
Discount Rate for Scheme Liabilities [Member] | |||
Sensitivities [Abstract] | |||
Change in assumption | 0.50% | ||
Discount rate for scheme liabilities | (10.50%) | ||
Price Inflation [Member] | |||
Sensitivities [Abstract] | |||
Change in assumption | 0.25% | ||
Price inflation | 2.90% | ||
Salary Growth Rate [Member] | |||
Sensitivities [Abstract] | |||
Change in assumption | 0.50% | ||
Salary growth rate | 1.90% |
Other non-current liabilities_2
Other non-current liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Other non-current liabilities [Abstract] | ||
Accruals | $ 58,011 | $ 4,191 |
Total other non-current liabilities | 58,011 | $ 4,191 |
Accrued employee benefit liability | 31,000 | |
Deferred gain on real estate | 14,000 | |
Contractual IT liability | $ 11,300 |
Financial instruments, Values o
Financial instruments, Values of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2015 |
Current Financial Assets [Abstract] | ||||
Cash and cash equivalents | $ 620,896 | $ 150,983 | $ 667,178 | $ 241,324 |
Trade and other current receivables | 1,272,033 | 289,509 | ||
Non-current Financial Liabilities [Abstract] | ||||
Borrowings | 4,842,178 | 1,490,352 | ||
Finance leases | 14,923 | 0 | ||
Provisions | 35,421 | 11,937 | ||
Current Financial Liabilities [Abstract] | ||||
Borrowings | 3,702 | 71,184 | ||
Finance leases | 13,560 | 0 | ||
Trade and other payables | 676,917 | 170,042 | ||
Provisions | 57,411 | 20,142 | ||
Financial Liabilities at Amortized Cost [Member] | ||||
Non-current Financial Liabilities [Abstract] | ||||
Borrowings | 4,946,566 | 1,511,400 | ||
Finance leases | 14,923 | 0 | ||
Provisions financial liabilities | 35,421 | 11,837 | ||
Provisions non-financial liabilities | 0 | 100 | ||
Provisions | 35,421 | 11,937 | ||
Current Financial Liabilities [Abstract] | ||||
Borrowings | 50,347 | 83,788 | ||
Finance leases | 13,560 | 0 | ||
Trade and other payables financial liabilities | 676,917 | 16,891 | ||
Trade and other payables non-financial liabilities | 0 | 153,151 | ||
Trade and other payables | 676,917 | 170,042 | ||
Provisions financial liabilities | 57,411 | 4,406 | ||
Provisions non-financial liabilities | 0 | 15,736 | ||
Provisions | 57,411 | 20,142 | ||
Financial liabilities | 5,795,145 | 1,628,322 | ||
Non-financial liabilities | 0 | 168,987 | ||
Total | 5,795,145 | 1,797,309 | ||
Financial assets at Fair Value [Member] | ||||
Non-current Financial Assets [Abstract] | ||||
Derivative financial instruments - Interest rate swaps | 86,381 | 0 | ||
Current Financial Assets [Abstract] | ||||
Cash and cash equivalents | 620,896 | 150,983 | ||
Trade and other receivables financial assets | 1,212,067 | 263,626 | ||
Trade and other receivables non-financial assets | 59,966 | 25,883 | ||
Trade and other current receivables | 1,272,033 | 289,509 | ||
Financial assets | 1,832,963 | 414,609 | ||
Non-financial assets | 146,347 | 25,883 | ||
Total | $ 1,979,310 | $ 440,492 |
Financial instruments, Maximum
Financial instruments, Maximum Exposure to Credit Risk (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2015 |
Exposure to Credit Risk [Abstract] | ||||
Trade receivables | $ 1,047,729 | $ 263,626 | ||
Cash and cash equivalents | 620,896 | 150,983 | $ 667,178 | $ 241,324 |
Credit Risk [member] | ||||
Exposure to Credit Risk [Abstract] | ||||
Trade receivables | 1,212,067 | 263,626 | ||
Cash and cash equivalents | 620,896 | 150,983 | ||
Total | $ 1,832,963 | $ 414,609 |
Financial instruments, Derivati
Financial instruments, Derivative Financial Instruments (Details) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017USD ($) | Oct. 31, 2018USD ($)Swap | |
Derivative Financial Instruments [Abstract] | ||
Number of interest rate swaps | Swap | 4 | |
Derivatives Financial Instruments [Member] | ||
Derivative Financial Instruments [Abstract] | ||
Number of interest rate swaps | Swap | 4 | |
Percentage of dollar loan principal outstanding covered by notional value | 50.40% | |
Fixed interest rate percentage | 1.94% | |
Net expenses for swaps | $ 3,400 | |
Carrying amount | $ 0 | 86,381 |
Notional amount | 0 | $ 2,250,000 |
Maturity date | Sep. 30, 2022 | |
Change in fair value of outstanding hedging instruments | 0 | $ 86,381 |
Change in value of hedged item adjusted for credit risk | $ 0 | $ 84,666 |
Financial instruments, Sensitiv
Financial instruments, Sensitivity Analysis (Details) $ in Thousands | 18 Months Ended |
Oct. 31, 2018USD ($) | |
LIBOR [Member] | |
Sensitivity Analysis [Abstract] | |
Borrowings interest rate percentage | 1.00% |
Currency Risk [Member] | Euro [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | $ 377,324 |
Currency Risk [Member] | GBP [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 25,436 |
Currency Risk [Member] | ILS [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 52,147 |
Currency Risk [Member] | CAN$ [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 60,468 |
+-5% [Member] | Euro [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 18,866 |
+-5% [Member] | GBP [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 1,271 |
+-5% [Member] | ILS [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 2,607 |
+-5% [Member] | CAN$ [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 3,023 |
+-10% [Member] | Euro [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 37,732 |
+-10% [Member] | GBP [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 2,543 |
+-10% [Member] | ILS [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 5,214 |
+-10% [Member] | CAN$ [Member] | |
Sensitivity Analysis [Abstract] | |
Currency exposures | 6,046 |
+-1% Interest [member] | |
Sensitivity Analysis [Abstract] | |
Interest rate exposures | $ 49,969 |
Financial instruments, Capital
Financial instruments, Capital Structure of Group at Statement of Financial Position Date (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Oct. 31, 2018 | Apr. 30, 2017 | Apr. 30, 2016 | Apr. 30, 2015 | |
Capital Risk Management [Abstract] | ||||
Bank and other borrowings | $ 4,845,880 | $ 1,561,536 | ||
Finance lease liabilities | 28,483 | 0 | ||
Cash and cash equivalents | (620,896) | (150,983) | $ (667,178) | $ (241,324) |
Total equity | $ 7,791,980 | 1,613,490 | $ 1,593,728 | $ 1,278,061 |
Capital Risk Management [Member] | ||||
Capital Risk Management [Abstract] | ||||
Minimum percentage of revolving facility outstanding | 35.00% | |||
Bank and other borrowings | $ 4,845,880 | 1,561,536 | ||
Finance lease liabilities | 28,483 | 0 | ||
Cash and cash equivalents | (620,896) | (150,983) | ||
Total net debt | 4,253,467 | 1,410,553 | ||
Total equity | $ 7,791,980 | $ 1,613,490 | ||
Debt/equity % | 54.59% | 87.42% |
Deferred tax, Net Deferred Tax
Deferred tax, Net Deferred Tax Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Net Deferred tax liability [Abstract] | |||||
Net Deferred tax liability | $ (65,281) | $ (118,478) | |||
(Debited)/credited to consolidated statement of comprehensive income | 26,871 | (17,171) | |||
Credited directly to equity in relation to share options | 22,996 | (23,724) | |||
Debited to other comprehensive income in relation to pensions | (325) | 4,281 | |||
Acquisition of subsidiaries | (97,615) | (1,957,343) | |||
Foreign exchange adjustment | (6,415) | 11,667 | |||
Reclassification to current assets held for sale | 0 | (1,586) | |||
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 1,291 | [1] | $ 237 | [1] | 931,865 |
Net Deferred tax liability | (118,478) | $ (65,281) | (1,170,489) | ||
Serena Software, Inc. [Member] | |||||
Net Deferred tax liability [Abstract] | |||||
Acquisition of subsidiaries | (96,203) | 0 | |||
GWAVA Inc. [Member] | |||||
Net Deferred tax liability [Abstract] | |||||
Acquisition of subsidiaries | (1,412) | 0 | |||
HPE Software Business [Member] | |||||
Net Deferred tax liability [Abstract] | |||||
Acquisition of subsidiaries | 0 | (1,953,453) | |||
COBOL-IT [Member] | |||||
Net Deferred tax liability [Abstract] | |||||
Acquisition of subsidiaries | 0 | (3,890) | |||
Continuing Operation [Member] | |||||
Net Deferred tax liability [Abstract] | |||||
(Debited)/credited to consolidated statement of comprehensive income | 26,871 | (27,634) | |||
Debited to other comprehensive income in relation to pensions | (62) | 3,754 | |||
Discontinued Operations [Member] | |||||
Net Deferred tax liability [Abstract] | |||||
(Debited)/credited to consolidated statement of comprehensive income | 0 | 10,463 | |||
Debited to other comprehensive income in relation to pensions | $ (263) | $ 527 | |||
[1] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Deferred tax, Deferred Tax Asse
Deferred tax, Deferred Tax Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017 | Oct. 31, 2018 | |
Deferred tax assets [Abstract] | ||
Deferred tax assets | $ 198,757 | $ 208,253 |
Acquisition of subsidiaries | 15,347 | |
(Charged)/credited to consolidated statement of comprehensive income | (22,029) | |
Credited directly to equity | 22,996 | (23,724) |
Debited to other comprehensive income | (325) | 4,281 |
Foreign exchange adjustment | (6,415) | (320) |
Reclassification to current assets held for sale | 0 | (1,586) |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | (78) | (57,949) |
Deferred tax assets | 208,253 | 309,268 |
Jurisdictional offsetting | (208,253) | (309,268) |
Deferred tax assets | 0 | 0 |
HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 382,723 | |
Deferred tax asset relating to other temporary differences | 23,700 | 70,800 |
Tax Losses [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 50,949 | 56,674 |
Acquisition of subsidiaries | 10,619 | |
(Charged)/credited to consolidated statement of comprehensive income | (4,894) | |
Credited directly to equity | 0 | 0 |
Debited to other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | (21,129) |
Deferred tax assets | 56,674 | 26,559 |
Tax Losses [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 4,524 | |
Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 22,767 | 43,675 |
Acquisition of subsidiaries | 0 | |
(Charged)/credited to consolidated statement of comprehensive income | 4,405 | |
Credited directly to equity | 22,996 | (23,724) |
Debited to other comprehensive income | 0 | 0 |
Foreign exchange adjustment | (6,415) | (320) |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | (78) | (2,319) |
Deferred tax assets | 43,675 | 17,422 |
Share Based Payments [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 0 | |
Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 37,962 | 44,490 |
Acquisition of subsidiaries | 2,471 | |
(Charged)/credited to consolidated statement of comprehensive income | 4,057 | |
Credited directly to equity | 0 | 0 |
Debited to other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | 66,673 |
Deferred tax assets | 44,490 | 119,853 |
Deferred Revenue [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | (36,468) | |
Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 0 | 0 |
Acquisition of subsidiaries | 0 | |
(Charged)/credited to consolidated statement of comprehensive income | 0 | |
Credited directly to equity | 0 | |
Debited to other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | (88,770) |
Deferred tax assets | 0 | 41,911 |
Prepaid Royalty [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 332,036 | |
Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 53,660 | 33,788 |
Acquisition of subsidiaries | 152 | |
(Charged)/credited to consolidated statement of comprehensive income | (20,024) | |
Credited directly to equity | 0 | 0 |
Debited to other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | 2,957 |
Deferred tax assets | 33,788 | 29,661 |
Tax Credits [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 39,030 | |
Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 6,496 | 5,887 |
Acquisition of subsidiaries | 0 | |
(Charged)/credited to consolidated statement of comprehensive income | (609) | |
Credited directly to equity | 0 | 0 |
Debited to other comprehensive income | 0 | 0 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | (2,025) |
Deferred tax assets | 5,887 | 3,037 |
Intangible Fixed Assets [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 0 | |
Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
Deferred tax assets | 26,923 | 23,739 |
Acquisition of subsidiaries | 2,105 | |
(Charged)/credited to consolidated statement of comprehensive income | (4,964) | |
Credited directly to equity | 0 | 0 |
Debited to other comprehensive income | (325) | 4,281 |
Foreign exchange adjustment | 0 | 0 |
Reclassification to current assets held for sale | (1,586) | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | (13,336) |
Deferred tax assets | $ 23,739 | 70,825 |
Other Temporary Differences [Member] | HPE Software Business [Member] | ||
Deferred tax assets [Abstract] | ||
Acquisition of subsidiaries | 43,601 | |
Continuing Operation [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | (202,410) | |
Continuing Operation [Member] | Tax Losses [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | (13,510) | |
Continuing Operation [Member] | Share Based Payments [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | 110 | |
Continuing Operation [Member] | Deferred Revenue [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | 45,158 | |
Continuing Operation [Member] | Prepaid Royalty [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | (201,355) | |
Continuing Operation [Member] | Tax Credits [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | (46,114) | |
Continuing Operation [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | (825) | |
Continuing Operation [Member] | Other Temporary Differences [Member] | ||
Deferred tax assets [Abstract] | ||
(Charged)/credited to consolidated statement of comprehensive income | $ 14,126 |
Deferred tax, Type of Temporary
Deferred tax, Type of Temporary Difference (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | $ 2,484,860 | $ 22,487 |
Credits | 215,740 | 23,580 |
Other | 49,578 | 23,859 |
Total | 2,750,178 | 69,926 |
Expiration: 2019 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 35,233 | 1,107 |
Credits | 2,174 | 2,131 |
Other | 1,859 | 0 |
Total | 39,266 | 3,238 |
Expiration: 2020 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 66,078 | 635 |
Credits | 4,420 | 2,147 |
Other | 1 | 0 |
Total | 70,499 | 2,782 |
Expiration: 2021 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 99,168 | 972 |
Credits | 3,959 | 1,909 |
Other | 0 | 0 |
Total | 103,127 | 2,881 |
Expiration: 2022 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 37,529 | 0 |
Credits | 2,360 | 2,138 |
Other | 0 | 0 |
Total | 39,889 | 2,138 |
Expiration: 2023 [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 33,574 | 0 |
Credits | 1,267 | 1,334 |
Other | 0 | 0 |
Total | 34,841 | 1,334 |
Thereafter [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 2,117,700 | 0 |
Credits | 5,210 | 5,583 |
Other | 0 | 0 |
Total | 2,122,910 | 5,583 |
No Expiry [Member] | ||
Unrecognize deferred tax assets due to temporary difference [Abstract] | ||
Losses | 95,578 | 19,773 |
Credits | 196,350 | 8,338 |
Other | 47,718 | 23,859 |
Total | $ 339,646 | $ 51,970 |
Deferred tax, Deferred Tax Liab
Deferred tax, Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended |
Apr. 30, 2017 | Oct. 31, 2018 | |
Deferred tax liabilities [Abstract] | ||
Deferred tax liabilities | $ (264,038) | $ (326,731) |
Acquisition of subsidiaries | (112,962) | |
Charged/(credited) to consolidated statement of comprehensive income | 48,900 | |
Foreign exchange adjustment | 11,987 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 1,369 | 989,814 |
Deferred tax liabilities | (326,731) | (1,479,757) |
Jurisdictional offsetting | 208,253 | 309,268 |
Deferred tax liabilities, after jurisdictional offsetting | (118,478) | (1,170,489) |
Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Deferred tax liabilities | (255,158) | (311,685) |
Acquisition of subsidiaries | (110,334) | |
Charged/(credited) to consolidated statement of comprehensive income | 52,438 | |
Foreign exchange adjustment | 11,987 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 1,369 | 981,955 |
Deferred tax liabilities | (311,685) | (1,448,443) |
Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Deferred tax liabilities | (8,880) | (15,046) |
Acquisition of subsidiaries | (2,628) | |
Charged/(credited) to consolidated statement of comprehensive income | (3,538) | |
Foreign exchange adjustment | 0 | |
Effect of change in tax rates - charged to consolidated statement of comprehensive income | 0 | 7,858 |
Deferred tax liabilities | $ (15,046) | (31,315) |
Continuing Operation [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 174,776 | |
Continuing Operation [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 186,787 | |
Continuing Operation [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | (12,011) | |
Discontinued Operations [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 10,463 | |
Discontinued Operations [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 10,463 | |
Discontinued Operations [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Charged/(credited) to consolidated statement of comprehensive income | 0 | |
HPE Software Business [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (2,336,176) | |
HPE Software Business [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (2,324,060) | |
HPE Software Business [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (12,116) | |
COBOL-IT [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (3,890) | |
COBOL-IT [Member] | Intangible Fixed Assets [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | (3,890) | |
COBOL-IT [Member] | Other Temporary Differences [Member] | ||
Deferred tax liabilities [Abstract] | ||
Acquisition of subsidiaries | $ 0 |
Share capital (Details)
Share capital (Details) $ in Thousands | 12 Months Ended | 18 Months Ended | ||||
Apr. 30, 2017USD ($)shares | Apr. 30, 2016USD ($)shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2018£ / sharesshares | Apr. 30, 2017£ / sharesshares | Apr. 30, 2016£ / sharesshares | |
Share capital, Disclosure [Abstract] | ||||||
Shares issued and fully paid at beginning of period | $ 39,700 | |||||
Shares issued to satisfy option awards | $ 1,889 | $ 898 | 5,689 | |||
Share reorganization | 0 | |||||
Shares issued relating to acquisition of the HPE Software business | 6,514,170 | |||||
Redemption of shares | (500,000) | |||||
Shares issued and fully paid at beginning of period | 39,700 | 65,798 | ||||
Nominal value per share (in pounds per share) | £ / shares | £ 18.7558 | |||||
Proceeds from issuing shares | $ 2,000 | $ 1,000 | $ 5,800 | |||
Number of treasury shares held (in shares) | shares | 9,858,205 | 0 | 29,924 | |||
Number of shares with voting rights (in shares) | shares | 426,942,308 | 229,674,479 | 228,676,286 | |||
Number of share options (in shares) | shares | 8,607,889 | 9,264,743 | 18,156,060 | |||
Ordinary Shares [Member] | ||||||
Share capital, Disclosure [Abstract] | ||||||
Shares issued and fully paid at beginning of period (in shares) | shares | 228,706,210 | 228,587,397 | 229,674,479 | |||
Shares issued and fully paid at beginning of period | $ 39,573 | $ 39,555 | $ 39,700 | |||
Shares issued to satisfy option awards (in shares) | shares | 968,269 | 118,313 | 1,894,673 | |||
Shares issued to satisfy option awards | $ 127 | $ 18 | $ 251 | |||
Share reorganization (in shares) | shares | 0 | 500 | (16,935,536) | |||
Share reorganization | $ 0 | $ 0 | $ (2,926) | |||
Shares issued relating to acquisition of the HPE Software business | shares | 0 | 0 | 222,166,897 | |||
Shares issued relating to acquisition of the HPE Software business | $ 0 | $ 0 | $ 28,773 | |||
Shares issued and fully paid at beginning of period (in shares) | shares | 229,674,479 | 228,706,210 | 436,800,513 | |||
Shares issued and fully paid at beginning of period | $ 39,700 | $ 39,573 | $ 65,798 | |||
Nominal value per share (in pounds per share) | £ / shares | £ 0.1 | £ 0.1 | £ 0.1 | |||
B Shares [Member] | ||||||
Share capital, Disclosure [Abstract] | ||||||
Shares issued and fully paid at beginning of period (in shares) | shares | 0 | 0 | 0 | |||
Shares issued and fully paid at beginning of period | $ 0 | $ 0 | $ 0 | |||
Shares issued to satisfy option awards (in shares) | shares | 0 | 0 | 229,799,802 | |||
Shares issued to satisfy option awards | $ 0 | $ 0 | $ 500,000 | |||
Redemption of shares (in shares) | shares | 0 | 0 | (229,799,802) | |||
Redemption of shares | $ 0 | $ 0 | $ (500,000) | |||
Shares issued and fully paid at beginning of period (in shares) | shares | 0 | 0 | 0 | |||
Shares issued and fully paid at beginning of period | $ 0 | $ 0 | $ 0 | |||
Nominal value per share (in pounds per share) | £ / shares | £ 1.68 | £ 1.68 |
Share capital, Share buy-back (
Share capital, Share buy-back (Details) $ in Thousands | Feb. 14, 2019USD ($)shares | Feb. 13, 2019USD ($)shares | Feb. 13, 2019£ / shares | Apr. 30, 2017USD ($) | Oct. 31, 2018USD ($)shares | Nov. 05, 2018USD ($) | Aug. 29, 2018USD ($) |
Share buy-back [Abstract] | |||||||
Shares repurchased | $ 7,678 | ||||||
Share Buy-back [Member] | |||||||
Share buy-back [Abstract] | |||||||
Amount authorized under buy-back program | $ 400,000 | $ 200,000 | |||||
Shares repurchased | $ 400,000 | $ 171,200 | |||||
Number of shares repurchased (in shares) | shares | 22,455,121 | 9,858,205 | |||||
Average share price (in pounds per share) | £ / shares | £ 13.82 | ||||||
Expiration date | Mar. 29, 2019 | ||||||
Expenses amount | $ 500 | ||||||
Share Buy-back [Member] | Top of Range [Member] | |||||||
Share buy-back [Abstract] | |||||||
Amount authorized under buy-back program | $ 110,000 | ||||||
Number of ordinary shares authorized for repurchase (in shares) | shares | 65,211,171 | ||||||
Share Buy-back [Member] | London Stock Exchange [Member] | |||||||
Share buy-back [Abstract] | |||||||
Number of shares repurchased (in shares) | shares | 8,567,659 | ||||||
Share Buy-back [Member] | New York Stock Exchange [Member] | |||||||
Share buy-back [Abstract] | |||||||
Number of shares repurchased (in shares) | shares | 1,290,546 |
Share premium account (Details)
Share premium account (Details) - USD ($) $ in Thousands | Aug. 31, 2017 | Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 |
Share premium account [Abstract] | ||||
Beginning balance | $ 192,145 | |||
Share placement issues | $ 225,720 | |||
Share placement issue costs | (2,979) | |||
Issue and redemption of B shares | (500,000) | |||
Movement in relation to share options exercised | $ 1,889 | 898 | 5,689 | |
Ending balance | 192,145 | 40,961 | ||
Share Premium Account [Member] | ||||
Share premium account [Abstract] | ||||
Beginning balance | 190,293 | 16,087 | 192,145 | |
Share placement issues | 176,235 | 0 | ||
Share placement issue costs | (2,979) | 0 | ||
Issue and redemption of B shares | $ (156,700) | 0 | 0 | (156,683) |
Movement in relation to share options exercised | 1,852 | 950 | 5,499 | |
Ending balance | $ 192,145 | $ 190,293 | $ 40,961 |
Other reserves (Details)
Other reserves (Details) $ in Thousands | Aug. 31, 2017USD ($)£ / $ | Aug. 31, 2017GBP (£)£ / $ | Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | Oct. 31, 2018USD ($) | Sep. 01, 2017USD ($) | ||
Reconciliation of other reserves [Roll forward] | ||||||||
Reallocation of merger reserve | $ 0 | $ 0 | $ 0 | |||||
Return of Value - share consolidation | 0 | |||||||
Issue and redemption of B shares | (500,000) | |||||||
Acquisition of the HPE Software business | 6,514,170 | |||||||
Other reserve transaction details [Abstract] | ||||||||
Amount of intercompany receivable transferred | 1,373,000 | |||||||
Intercompany loan settlement amount | 408,200 | |||||||
Amount expected to be settled in qualifying consideration | 2,347,600 | |||||||
Return of value effected through an issue and redemption of B shares | $ 500,000 | |||||||
Increase (decrease) through issue and redemption of shares | (500,000) | |||||||
Share consolidation ratio | £ / $ | 0.9263 | 0.9263 | ||||||
Bought back amount for each share | £ | £ 0.01 | |||||||
Amount transferred to capital redemption reserve | $ 2,900 | |||||||
Amount recognised in hedging reserve in relation to hedging transactions | 70,000 | |||||||
Merger reserve | 338,104 | 3,724,384 | ||||||
HPE Software Business [Member] | ||||||||
Other reserve transaction details [Abstract] | ||||||||
Merger reserve | $ 6,485,400 | |||||||
Share Premium [Member] | ||||||||
Reconciliation of other reserves [Roll forward] | ||||||||
Reallocation of merger reserve | 0 | 0 | 0 | |||||
Return of Value - share consolidation | 0 | |||||||
Issue and redemption of B shares | (156,700) | 0 | 0 | (156,683) | ||||
Acquisition of the HPE Software business | 0 | |||||||
Other reserve transaction details [Abstract] | ||||||||
Increase (decrease) through issue and redemption of shares | (156,700) | 0 | 0 | (156,683) | ||||
Other Reserves [Member] | ||||||||
Reconciliation of other reserves [Roll forward] | ||||||||
Beginning balance | 1,151,467 | 1,331,467 | 501,467 | |||||
Reallocation of merger reserve | [1] | (650,000) | (180,000) | (2,755,800) | ||||
Return of Value - share consolidation | [2] | 2,926 | ||||||
Issue and redemption of B shares | [2] | 156,683 | ||||||
Hedge accounting | [3] | 86,381 | ||||||
Deferred tax movement on hedging | [3] | (16,413) | ||||||
Acquisition of the HPE Software business | [4] | 6,485,397 | ||||||
Ending balance | 501,467 | 1,151,467 | 4,460,641 | |||||
Other reserve transaction details [Abstract] | ||||||||
Increase (decrease) through issue and redemption of shares | [2] | 156,683 | ||||||
Capital Redemption Reserve [Member] | ||||||||
Reconciliation of other reserves [Roll forward] | ||||||||
Beginning balance | 163,363 | 163,363 | 163,363 | |||||
Reallocation of merger reserve | [1] | 0 | 0 | 0 | ||||
Return of Value - share consolidation | [2] | 2,926 | ||||||
Issue and redemption of B shares | 500,000 | 500,000 | [2] | |||||
Hedge accounting | [3] | 0 | ||||||
Deferred tax movement on hedging | [3] | 0 | ||||||
Acquisition of the HPE Software business | [4] | 0 | ||||||
Ending balance | 163,363 | 163,363 | 666,289 | |||||
Other reserve transaction details [Abstract] | ||||||||
Increase (decrease) through issue and redemption of shares | 500,000 | 500,000 | [2] | |||||
Merger Reserve [Member] | ||||||||
Reconciliation of other reserves [Roll forward] | ||||||||
Beginning balance | 988,104 | 1,168,104 | 338,104 | |||||
Reallocation of merger reserve | [1] | (650,000) | (180,000) | (2,755,800) | ||||
Return of Value - share consolidation | [2] | 0 | ||||||
Issue and redemption of B shares | (343,300) | (343,317) | [2] | |||||
Hedge accounting | [3] | 0 | ||||||
Deferred tax movement on hedging | [3] | 0 | ||||||
Acquisition of the HPE Software business | [4] | 6,485,397 | ||||||
Ending balance | 338,104 | 988,104 | 3,724,384 | |||||
Other reserve transaction details [Abstract] | ||||||||
Increase (decrease) through issue and redemption of shares | $ (343,300) | (343,317) | [2] | |||||
Hedging Reserve [Member] | ||||||||
Reconciliation of other reserves [Roll forward] | ||||||||
Beginning balance | 0 | 0 | 0 | |||||
Reallocation of merger reserve | [1] | 0 | 0 | 0 | ||||
Return of Value - share consolidation | [2] | 0 | ||||||
Issue and redemption of B shares | [2] | 0 | ||||||
Hedge accounting | [3] | 86,381 | ||||||
Deferred tax movement on hedging | [3] | (16,413) | ||||||
Acquisition of the HPE Software business | [4] | 0 | ||||||
Ending balance | $ 0 | $ 0 | 69,968 | |||||
Other reserve transaction details [Abstract] | ||||||||
Increase (decrease) through issue and redemption of shares | [2] | $ 0 | ||||||
[1] | The Company has transferred amounts from the merger reserve to retained earnings pursuant to the UK company law. The parent company previously transferred the investment in The Attachmate Group ("TAG") to a wholly owned subsidiary for an intercompany receivable in the amount of $1,373m. During the period, the parent company also transferred the investment in the HPE Software business to a wholly owned subsidiary in exchange for an intercompany receivable. An amount of $2,755.8m has been transferred from the merger reserve to retained earnings (April 30, 2017: $650.0m; April 30, 2016: $180.0m). Of the $2,755.8m merger reserve transfer in the period, $408.2m of the intercompany loan has been settled in the period and the remaining $2,347.6m is expected to be settled in qualifying consideration during the year to October 31, 2019. It therefore meets the definition of qualifying consideration and is available for dividend distribution to the parent company's shareholders. | |||||||
[2] | On August 31, 2017 a Return of Value was made to shareholders amounting to $500.0m. The Return of Value was effected through an issue and redemption of B shares, and resulted in a $500.0m increase in the capital redemption reserve, a $343.3m reduction in the merger reserve and a $156.7m reduction in share premium. The return of value was accompanied by a 0.9263 share consolidation and the share consolidation resulted in the issue of D deferred shares which were subsequently bought back for 1 pence, resulting in a transfer of $2.9m to the capital redemption reserve. | |||||||
[3] | $70.0m was recognised in the hedging reserve in relation to hedging transactions entered into in the 18 months ended October 31, 2018. | |||||||
[4] | On September 1, 2017 the acquisition of the HPE Software business was completed (note 39). As a result of this a merger reserve was created of $6,485.4m. The acquisition was structured by way of equity consideration; this transaction fell within the provisions of section 612 of the Companies Act 2006 (merger relief) such that no share premium was recorded in respect of the shares issued. The parent company chose to record its investment in the HPE Software business at fair value and therefore recorded a merger reserve equal to the value of the share premium which would have been recorded had section 612 of the Companies Act 2006 not been applicable (i.e. equal to the difference between the fair value of the HPE Software business and the aggregate nominal value of the shares issued). |
Non-controlling interests (Deta
Non-controlling interests (Details) $ in Thousands | Dec. 22, 2017USD ($)shares | Dec. 22, 2017JPY (¥)shares | Nov. 20, 2017USD ($)shares | Nov. 20, 2017JPY (¥)shares | Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | Oct. 31, 2018USD ($) | ||
Non-controlling interests, Disclosure [Abstract] | |||||||||
Non-controlling interests, beginning period | $ 954 | ||||||||
Share of (loss)/profit after tax | $ (103) | [1],[2] | $ 78 | [2],[3] | 85 | ||||
Non-controlling interests, period end | 954 | 1,039 | |||||||
Novell Japan Ltd [Member] | |||||||||
Non-controlling interests, Disclosure [Abstract] | |||||||||
Payment made to minority shareholders | $ 1,505 | ¥ 170,350 | $ 1,547 | ¥ 170,350 | |||||
Number of shares acquired (in shares) | shares | 170,350 | 170,350 | 170,350 | 170,350 | |||||
Non-controlling interests, beginning period | 1,057 | 979 | 954 | ||||||
Share of (loss)/profit after tax | (103) | 78 | 85 | ||||||
Non-controlling interests, period end | $ 954 | $ 1,057 | $ 1,039 | ||||||
Proportion of equity interest held by non-controlling interests [Abstract] | |||||||||
Country of incorporation and operation of non-controlling interests | Japan | ||||||||
Percentage of ownership interests held by non-controlling interests | 74.70% | 71.50% | 81.05% | ||||||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||
[2] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||
[3] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) |
Employees and directors, Staff
Employees and directors, Staff Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | [1] | Apr. 30, 2016 | [1] | Oct. 31, 2018 | |
Staff costs [Abstract] | |||||
Wages and salaries | $ 382,482 | $ 342,957 | $ 1,819,251 | ||
Redundancy and termination costs (non-exceptional) | 2,115 | 3,722 | 2,102 | ||
Social security costs | 53,215 | 45,584 | 159,009 | ||
Other pension costs | 11,379 | [2] | 10,976 | [2] | 50,379 |
Cost of employee share schemes | 31,463 | [2] | 26,254 | [2] | 64,284 |
Total | $ 480,654 | [3] | $ 429,493 | [3] | $ 2,095,025 |
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Employees and directors, Pensio
Employees and directors, Pension Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | [1],[2] | Apr. 30, 2016 | [1],[2] | Oct. 31, 2018 | |
Pension costs comprise [Abstract] | |||||
Defined benefit schemes | $ 504 | $ 613 | $ 7,138 | ||
Defined contribution schemes | 10,875 | 10,363 | 43,241 | ||
Total | $ 11,379 | $ 10,976 | $ 50,379 | ||
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Employees and directors, Averag
Employees and directors, Average Monthly Number of People Employed (Details) - Employee | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Average number of employees [Abstract] | |||
Sales and distribution | 2,141 | 1,958 | 6,375 |
Research and development | 1,876 | 1,676 | 4,952 |
General and administration | 646 | 584 | 1,386 |
Average monthly number of people (including executive directors) employed by the Group | 4,663 | 4,218 | 12,713 |
Continuing Operations [Member] | |||
Average number of employees [Abstract] | |||
Sales and distribution | 1,818 | 1,692 | 5,860 |
Research and development | 1,400 | 1,301 | 4,323 |
General and administration | 642 | 582 | 1,378 |
Average monthly number of people (including executive directors) employed by the Group | 3,860 | 3,575 | 11,561 |
Discontinued Operations [Member] | |||
Average number of employees [Abstract] | |||
Sales and distribution | 323 | 266 | 515 |
Research and development | 476 | 375 | 629 |
General and administration | 4 | 2 | 8 |
Average monthly number of people (including executive directors) employed by the Group | 803 | 643 | 1,152 |
Employees and directors, Key Ma
Employees and directors, Key Management Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Key management compensation [Abstract] | |||
Short-term employee benefits | $ 8,051 | $ 9,297 | $ 25,893 |
Share based payments | 9,391 | 10,146 | 44,497 |
Total key management compensation | $ 17,442 | $ 19,443 | 70,390 |
Post-employment benefits | $ 0 |
Employees and directors, Share
Employees and directors, Share Based Payments to Directors (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Share based payments [Abstract] | |||||
Aggregate emoluments | $ 382,482 | [1] | $ 342,957 | [1] | $ 1,819,251 |
Company contributions to money purchase pension scheme | 10,875 | [1],[2] | 10,363 | [1],[2] | 43,241 |
Directors [Member] | |||||
Share based payments [Abstract] | |||||
Aggregate emoluments | 5,227 | 3,612 | 14,583 | ||
Aggregate gains made on the exercise of share options | 8,166 | 3,764 | 77,719 | ||
Company contributions to money purchase pension scheme | 463 | 228 | 749 | ||
Total | $ 13,856 | $ 7,604 | $ 93,051 | ||
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Employees and directors, Shar_2
Employees and directors, Share Based Payments on Continuing Operations Basis (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |||
Share based payment arrangement [Abstract] | |||||
Share based payments in comprehensive income | $ 34,500 | $ 28,800 | $ 72,200 | ||
Share based compensation - IFRS 2 charge | 20,798 | [1] | 17,355 | [1] | 70,921 |
Employer taxes | 10,665 | [1] | 8,899 | [1] | (6,637) |
Share-based compensation payments | 31,463 | [1],[2] | 26,254 | [1],[2] | 64,284 |
Trade and Other Payables [Member] | |||||
Share based payment arrangement [Abstract] | |||||
Employer taxes | 17,000 | 15,600 | 20,600 | ||
Other Non-current Liabilities [Member] | |||||
Share based payment arrangement [Abstract] | |||||
Employer taxes | $ 1,200 | $ 1,100 | $ 500 | ||
[1] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Employees and directors, Incent
Employees and directors, Incentive Plan 2005 (Details) $ in Thousands | Apr. 19, 2011GBP (£) | Apr. 17, 2011 | Apr. 30, 2017USD ($)shares | Apr. 30, 2017GBP (£)shares | Apr. 30, 2016USD ($)shares | Apr. 30, 2016GBP (£)shares | Oct. 31, 2018USD ($)shares | Oct. 31, 2018GBP (£)shares | Oct. 31, 2018USD ($) | Oct. 31, 2018 | Oct. 31, 2018GBP (£) | Apr. 30, 2017USD ($) | Apr. 30, 2017 | Apr. 30, 2017GBP (£) | Apr. 30, 2016GBP (£)USD ($) | ||
Number of Options [Abstract] | |||||||||||||||||
Exercised (in shares) | shares | (8,607,889) | (8,607,889) | (9,264,743) | (9,264,743) | (18,156,060) | (18,156,060) | |||||||||||
Outstanding at ending period (in shares) | shares | 800,000 | 800,000 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Number of options (in shares) | shares | 800,000 | 800,000 | |||||||||||||||
Share based compensation charge | $ | $ 31,463 | [1],[2] | $ 26,254 | [1],[2] | $ 64,284 | ||||||||||||
Weighted average fair value, options granted (in dollars per share) | £ 11.05 | £ 18.35 | |||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Weighted average share price at the grant date (in pounds per share) | £ 11.05 | £ 18.35 | |||||||||||||||
Expected option life | 3 | 3 | 1.96 | 1.96 | |||||||||||||
Bottom of Range [Member] | |||||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Expected volatility | 25.81% | 25.81% | 28.00% | 28.00% | |||||||||||||
Expected dividend yield | 2.90% | 2.90% | 3.26% | 3.26% | |||||||||||||
Annual risk-free interest rate | 1.71% | 1.71% | 0.43% | 0.43% | |||||||||||||
Top of Range [Member] | |||||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Expected volatility | 26.11% | 26.11% | 31.00% | 31.00% | |||||||||||||
Expected dividend yield | 3.30% | 3.30% | 5.29% | 5.29% | |||||||||||||
Annual risk-free interest rate | 2.08% | 2.08% | 0.84% | 0.84% | |||||||||||||
Black-Scholes valuation model [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average fair value, options granted (in dollars per share) | £ 18.56 | £ 15.25 | |||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Weighted average share price at the grant date (in pounds per share) | 18.56 | 15.25 | |||||||||||||||
Incentive Plan 2005 [Member] | |||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||
Cumulative earning per share growth vesting period | 3 years | 3 years | |||||||||||||||
Percentage of retail prices index | 3.00% | 11.00% | |||||||||||||||
Award vesting percentage | 25.00% | 25.00% | |||||||||||||||
Percentage of shares vesting for cumulative earning per share growth | 60.00% | ||||||||||||||||
Cumulative earning per share growth of retail prices index percentage | 9.00% | 13.00% | |||||||||||||||
Required percentage of retail prices index per annum for cumulative EPS growth | 15.00% | ||||||||||||||||
Weighted average share price (in pounds per share) | £ 2.027 | £ 1.781 | |||||||||||||||
Absolute shareholders return period | 3 years | ||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | 5,186 | 4,662,000 | 4,662,000 | ||||||||||||||
Exercised (in shares) | $ | (1,008) | (1,283) | |||||||||||||||
Forfeited (in shares) | $ | (120) | (582) | |||||||||||||||
Granted (in shares) | $ | 604 | 2,823 | |||||||||||||||
Outstanding at ending period (in shares) | 4,662,000 | 4,662,000 | 5,186 | 5,620,000 | 5,620,000 | ||||||||||||
Exercisable at ending period (in shares) | $ | 2,270 | 1,261 | |||||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 0.41 | £ 0.29 | |||||||||||||||
Exercised (in pounds per share) | 0.85 | 0.12 | |||||||||||||||
Forfeited (in pounds per share) | 0.14 | 0.03 | |||||||||||||||
Granted (in pounds per share) | 0.06 | 0 | |||||||||||||||
Outstanding at period end (in pounds per share) | 0.29 | £ 0.41 | 0.14 | ||||||||||||||
Exercisable at ending period (in pounds per share) | £ 0.51 | £ 0.92 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 0.29 | £ 0.41 | £ 0.29 | 0.14 | 0.29 | £ 0.41 | |||||||||||
Number of options (in shares) | 4,662,000 | 4,662,000 | 5,186 | 5,620,000 | 5,620,000 | 5,620 | 4,662 | 5,186 | |||||||||
Weighted average remaining contractual life (in years) | 4 | 7 | |||||||||||||||
Share based compensation charge | $ | $ 16,200 | $ 15,100 | $ 30,200 | ||||||||||||||
Defined benefit plan, amount charged to consolidated statement of comprehensive income of national insurance | $ | $ 3,600 | $ 2,400 | $ 4,200 | ||||||||||||||
Weighted average fair value, options granted (in dollars per share) | £ 20.22 | £ 16.87 | |||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Weighted average share price at the grant date (in pounds per share) | £ 20.22 | £ 16.87 | |||||||||||||||
Expected option life | 3 | 3 | 3 | 3 | |||||||||||||
Incentive Plan 2005 [Member] | Bottom of Range [Member] | |||||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Expected volatility | 26.96% | 26.96% | 28.59% | 28.59% | |||||||||||||
Expected dividend yield | 2.70% | 2.70% | 2.82% | 2.82% | |||||||||||||
Annual risk-free interest rate | 0.71% | 0.71% | 1.00% | 1.00% | |||||||||||||
Incentive Plan 2005 [Member] | Top of Range [Member] | |||||||||||||||||
Share-based plans, significant model [Abstract] | |||||||||||||||||
Expected volatility | 27.98% | 27.98% | 48.54% | 48.54% | |||||||||||||
Expected dividend yield | 3.10% | 3.10% | 7.02% | 7.02% | |||||||||||||
Annual risk-free interest rate | 1.09% | 1.09% | 1.60% | 1.60% | |||||||||||||
Incentive Plan 2005 [Member] | 0.10 or less [Member] | |||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | shares | 3,856,000 | 3,856,000 | |||||||||||||||
Outstanding at ending period (in shares) | shares | 3,856,000 | 3,856,000 | 5,127,000 | 5,127,000 | |||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 0.04 | ||||||||||||||||
Outstanding at period end (in pounds per share) | £ 0.04 | 0.01 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 0.04 | £ 0.04 | 0.01 | 0.04 | |||||||||||||
Number of options (in shares) | shares | 3,856,000 | 3,856,000 | 5,127,000 | 5,127,000 | |||||||||||||
Weighted average remaining contractual life (in years) | 6.70 | 7.40 | |||||||||||||||
Incentive Plan 2005 [Member] | 0.10 or less [Member] | Top of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 0.10 | ||||||||||||||||
Incentive Plan 2005 [Member] | 0.11 - 1.00 [Member] | |||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | shares | 506,000 | 506,000 | |||||||||||||||
Outstanding at ending period (in shares) | shares | 506,000 | 506,000 | 205,000 | 205,000 | |||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 0.13 | ||||||||||||||||
Outstanding at period end (in pounds per share) | £ 0.13 | 0.13 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 0.13 | £ 0.13 | 0.13 | 0.13 | |||||||||||||
Number of options (in shares) | shares | 506,000 | 506,000 | 506,000 | 506,000 | |||||||||||||
Weighted average remaining contractual life (in years) | 4.90 | 6.60 | |||||||||||||||
Incentive Plan 2005 [Member] | 0.11 - 1.00 [Member] | Bottom of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 0.11 | ||||||||||||||||
Incentive Plan 2005 [Member] | 0.11 - 1.00 [Member] | Top of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 1 | ||||||||||||||||
Incentive Plan 2005 [Member] | 1.01 - 2.00 [Member] | |||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | shares | 0 | 0 | |||||||||||||||
Outstanding at ending period (in shares) | shares | 0 | 0 | 0 | 0 | |||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 0 | ||||||||||||||||
Outstanding at period end (in pounds per share) | £ 0 | 0 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 0 | £ 0 | 0 | 0 | |||||||||||||
Number of options (in shares) | shares | 0 | 0 | 0 | 0 | |||||||||||||
Weighted average remaining contractual life (in years) | 0 | 0 | |||||||||||||||
Incentive Plan 2005 [Member] | 1.01 - 2.00 [Member] | Bottom of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 1.01 | ||||||||||||||||
Incentive Plan 2005 [Member] | 1.01 - 2.00 [Member] | Top of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 2 | ||||||||||||||||
Incentive Plan 2005 [Member] | 2.01 - 3.00 [Member] | |||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | shares | 5,000 | 5,000 | |||||||||||||||
Outstanding at ending period (in shares) | shares | 5,000 | 5,000 | 0 | 0 | |||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 2.81 | ||||||||||||||||
Outstanding at period end (in pounds per share) | £ 2.81 | 0 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 2.81 | £ 2.81 | 0 | 2.81 | |||||||||||||
Number of options (in shares) | shares | 5,000 | 5,000 | 0 | 0 | |||||||||||||
Weighted average remaining contractual life (in years) | 0 | 0.50 | |||||||||||||||
Incentive Plan 2005 [Member] | 2.01 - 3.00 [Member] | Bottom of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 2.01 | ||||||||||||||||
Incentive Plan 2005 [Member] | 2.01 - 3.00 [Member] | Top of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 3 | ||||||||||||||||
Incentive Plan 2005 [Member] | 3.01 - 4.00 [Member] | |||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | shares | 146,000 | 146,000 | |||||||||||||||
Outstanding at ending period (in shares) | shares | 146,000 | 146,000 | 146,000 | 146,000 | |||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 3.58 | ||||||||||||||||
Outstanding at period end (in pounds per share) | £ 3.58 | 3.58 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 3.58 | £ 3.58 | 3.58 | 3.58 | |||||||||||||
Number of options (in shares) | shares | 146,000 | 146,000 | 146,000 | 146,000 | |||||||||||||
Weighted average remaining contractual life (in years) | 0.70 | 2.20 | |||||||||||||||
Incentive Plan 2005 [Member] | 3.01 - 4.00 [Member] | Bottom of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 3.01 | ||||||||||||||||
Incentive Plan 2005 [Member] | 3.01 - 4.00 [Member] | Top of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | 4 | ||||||||||||||||
Incentive Plan 2005 [Member] | More than 4.00 [Member] | |||||||||||||||||
Number of Options [Abstract] | |||||||||||||||||
Outstanding at beginning period (in shares) | shares | 149,000 | 149,000 | |||||||||||||||
Outstanding at ending period (in shares) | shares | 149,000 | 149,000 | 142,000 | 142,000 | |||||||||||||
Weighted average exercise prices [Abstract] | |||||||||||||||||
Outstanding at beginning period (in pounds per share) | £ 4.02 | ||||||||||||||||
Outstanding at period end (in pounds per share) | £ 4.02 | 4.02 | |||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Weighted average exercise price (in pounds per share) | £ 4.02 | £ 4.02 | 4.02 | £ 4.02 | |||||||||||||
Number of options (in shares) | shares | 149,000 | 149,000 | 149,000 | 149,000 | |||||||||||||
Weighted average remaining contractual life (in years) | 1.70 | 3.20 | |||||||||||||||
Incentive Plan 2005 [Member] | More than 4.00 [Member] | Bottom of Range [Member] | |||||||||||||||||
Defined benefit plan, consolidated statement of comprehensive income [Abstract] | |||||||||||||||||
Range of exercise price (in pounds per share) | £ 4 | ||||||||||||||||
Incentive Plan 2005 [Member] | ASR Below 150 Pence [Member] | |||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||
Awards subject to ASR, resulting level, percentage | 25.00% | ||||||||||||||||
Awards subject to ASR, resulting level (in pounds per share) | £ 1.50 | ||||||||||||||||
Incentive Plan 2005 [Member] | ASR 300 Pence or More [Member] | |||||||||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||||||||
Awards subject to ASR, resulting level, percentage | 50.00% | ||||||||||||||||
Awards subject to ASR, resulting level (in pounds per share) | £ 3 | ||||||||||||||||
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||||||||||||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Employees and directors, Additi
Employees and directors, Additional Share Grants (Details) $ in Thousands | 12 Months Ended | 18 Months Ended | ||||||||||
Apr. 30, 2017USD ($)shares | Apr. 30, 2017GBP (£)shares | Apr. 30, 2016USD ($)shares | Apr. 30, 2016GBP (£)shares | Oct. 31, 2018USD ($)sharesyr | Oct. 31, 2018GBP (£)sharesyr | Oct. 31, 2018GBP (£)shares | Apr. 30, 2017GBP (£)shares | |||||
Number of Options [Abstract] | ||||||||||||
Exercised (in shares) | (8,607,889) | (8,607,889) | (9,264,743) | (9,264,743) | (18,156,060) | (18,156,060) | ||||||
Outstanding at ending period (in shares) | 800,000 | 800,000 | ||||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||||||
Weighted average share price at the grant date (in pounds per share) | £ | £ 11.05 | £ 18.35 | ||||||||||
Expected option life | 3 | 3 | 1.96 | 1.96 | ||||||||
Share based payment, range of exercise price [Abstract] | ||||||||||||
Number of options (in shares) | 800,000 | 800,000 | 800,000 | |||||||||
Additional share grants [Abstract] | ||||||||||||
Expected option life | 3 | 3 | 1.96 | 1.96 | ||||||||
Share based compensation charge | $ | $ 31,463 | [1],[2] | $ 26,254 | [1],[2] | $ 64,284 | |||||||
Bottom of Range [Member] | ||||||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||||||
Expected volatility | 25.81% | 25.81% | 28.00% | 28.00% | ||||||||
Expected dividend yield | 2.90% | 2.90% | 3.26% | 3.26% | ||||||||
Annual risk-free interest rate | 1.71% | 1.71% | 0.43% | 0.43% | ||||||||
Additional share grants [Abstract] | ||||||||||||
Expected volatility | 25.81% | 25.81% | 28.00% | 28.00% | ||||||||
Expected dividend yield | 2.90% | 2.90% | 3.26% | 3.26% | ||||||||
Annual risk-free interest rate | 1.71% | 1.71% | 0.43% | 0.43% | ||||||||
Top of Range [Member] | ||||||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||||||
Expected volatility | 26.11% | 26.11% | 31.00% | 31.00% | ||||||||
Expected dividend yield | 3.30% | 3.30% | 5.29% | 5.29% | ||||||||
Annual risk-free interest rate | 2.08% | 2.08% | 0.84% | 0.84% | ||||||||
Additional share grants [Abstract] | ||||||||||||
Expected volatility | 26.11% | 26.11% | 31.00% | 31.00% | ||||||||
Expected dividend yield | 3.30% | 3.30% | 5.29% | 5.29% | ||||||||
Annual risk-free interest rate | 2.08% | 2.08% | 0.84% | 0.84% | ||||||||
Additional Share Grants [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Outstanding at beginning period (in shares) | 3,262,000 | 3,262,000 | 3,262,000 | 3,262,000 | ||||||||
Exercised (in shares) | 0 | 0 | (200,000) | (200,000) | ||||||||
Lapsed (in shares) | 0 | 0 | (2,412,000) | (2,412,000) | ||||||||
Cancelled (in shares) | 0 | 0 | (3,276,000) | (3,276,000) | ||||||||
Granted (in shares) | 0 | 0 | 13,115,000 | 13,115,000 | ||||||||
Outstanding at ending period (in shares) | 3,262,000 | 3,262,000 | 3,262,000 | 3,262,000 | 10,489,000 | 10,489,000 | ||||||
Exercisable at ending period (in shares) | 3,062,000 | 3,062,000 | ||||||||||
Weighted Average Exercise Price [Abstract] | ||||||||||||
Outstanding at beginning period (in pounds per share) | £ | £ 0 | £ 0 | ||||||||||
Exercised (in pounds per share) | £ | 0 | 0 | ||||||||||
Lapsed (in pounds per share) | £ | 0 | 0 | ||||||||||
Forfeited (in pounds per share) | £ | 0 | 0 | ||||||||||
Granted (in pounds per share) | £ | 0 | 0 | ||||||||||
Outstanding at period end (in pounds per share) | £ | 0 | £ 0 | 0 | |||||||||
Exercisable at ending period (in pounds per share) | £ | £ 0 | £ 0 | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares granted and cancelled (in shares) | 0 | 0 | 3,276,000 | 3,276,000 | ||||||||
Number of shares replacement (in shares) | 0 | 0 | 13,115,000 | 13,115,000 | ||||||||
Share based payment, range of exercise price [Abstract] | ||||||||||||
Weighted average exercise price (in pounds per share) | £ | £ 0 | £ 0 | £ 0 | £ 0 | £ 0 | |||||||
Number of options (in shares) | 3,262,000 | 3,262,000 | 3,262,000 | 3,262,000 | 3,262,000 | 3,262,000 | 10,489,000 | 3,262,000 | ||||
Weighted average remaining contractual life (in years) | 5.5 | 7.6 | ||||||||||
Additional share grants [Abstract] | ||||||||||||
Share based compensation charge | $ | $ 6,600 | $ 7,600 | $ 45,600 | |||||||||
Defined benefit plan, amount charged to consolidated statement of comprehensive income of national insurance | $ | $ 7,000 | $ 2,800 | $ 2,500 | |||||||||
Additional Share Grants [Member] | Monte-Carlo simulation model [Member] | ||||||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||||||
Weighted average share price at the grant date (in pounds per share) | £ | £ 4.80 | |||||||||||
Additional Share Grants [Member] | The Attachmate Group, Inc. [Member] | ||||||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||||||
Weighted average share price at the grant date (in pounds per share) | £ | £ 4.40 | |||||||||||
Expected volatility | 26.11% | 26.11% | ||||||||||
Expected dividend yield | 3.20% | 3.20% | ||||||||||
Expected option life | yr | 3 | 3 | ||||||||||
Annual risk-free interest rate | 2.08% | 2.08% | ||||||||||
Additional share grants [Abstract] | ||||||||||||
Performance condition one | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | ||||||||||
Performance condition two | 100% if the Shareholder Return percentage is 100% or more; and | 100% if the Shareholder Return percentage is 100% or more; and | ||||||||||
Performance condition three | A percentage determined on a straight line basis between (i) and (ii) above. | A percentage determined on a straight line basis between (i) and (ii) above. | ||||||||||
Performance condition return calculated by deducting (in pounds per share) | £ | £ 8.19425 | |||||||||||
Duration of performance condition return calculated by deducting | 20 days | 20 days | ||||||||||
Exercise price, share options granted | £ | £ 11.24 | |||||||||||
Expected volatility | 26.11% | 26.11% | ||||||||||
Expected dividend yield | 3.20% | 3.20% | ||||||||||
Expected option life | yr | 3 | 3 | ||||||||||
Annual risk-free interest rate | 2.08% | 2.08% | ||||||||||
Additional Share Grants [Member] | HPE Software Business [Member] | ||||||||||||
Additional share grants [Abstract] | ||||||||||||
Performance condition one | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | 0% if the Shareholder Return percentage (as defined below) is 50% or less; | ||||||||||
Performance condition two | 100% if the Shareholder Return percentage is 100% or more; and | 100% if the Shareholder Return percentage is 100% or more; and | ||||||||||
Performance condition three | A percentage determined on a straight line basis between (i) and (ii) above. | A percentage determined on a straight line basis between (i) and (ii) above. | ||||||||||
Performance condition return calculated by deducting (in pounds per share) | £ | £ 18.1775 | |||||||||||
Duration of performance condition return calculated by deducting | 20 days | 20 days | ||||||||||
Duration of ordinary shares will remain exercisable | 84 months | 84 months | ||||||||||
Additional Share Grants [Member] | Range One [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Outstanding at beginning period (in shares) | 3,262,000 | 3,262,000 | ||||||||||
Outstanding at ending period (in shares) | 3,262,000 | 3,262,000 | 10,489,000 | 10,489,000 | ||||||||
Weighted Average Exercise Price [Abstract] | ||||||||||||
Outstanding at beginning period (in pounds per share) | £ | £ 0 | |||||||||||
Outstanding at period end (in pounds per share) | £ | £ 0 | 0 | ||||||||||
Share based payment, range of exercise price [Abstract] | ||||||||||||
Range of exercise price (in dollars per share) | £ | £ 0 | |||||||||||
Weighted average exercise price (in pounds per share) | £ | £ 0 | £ 0 | £ 0 | £ 0 | ||||||||
Number of options (in shares) | 3,262,000 | 3,262,000 | 10,489,000 | 10,489,000 | 10,489,000 | 3,262,000 | ||||||
Weighted average remaining contractual life (in years) | 5.5 | 7.6 | ||||||||||
Additional Share Grants [Member] | Kevin Loosemore [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Cancelled (in shares) | (1,100,000) | (1,100,000) | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares granted and cancelled (in shares) | 1,100,000 | 1,100,000 | ||||||||||
Additional Share Grants [Member] | Stephen Murdoch [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Cancelled (in shares) | (500,000) | (500,000) | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares granted and cancelled (in shares) | 500,000 | 500,000 | ||||||||||
Additional share grants [Abstract] | ||||||||||||
Increase in number of share options granted in share-based payment arrangement | 447,000 | 447,000 | ||||||||||
Additional Share Grants [Member] | Chris Kennedy [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Cancelled (in shares) | (500,000) | [3] | (500,000) | [3] | ||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares granted and cancelled (in shares) | 500,000 | [3] | 500,000 | [3] | ||||||||
Additional share grants [Abstract] | ||||||||||||
Increase in number of share options granted in share-based payment arrangement | 176,000 | 176,000 | ||||||||||
Additional Share Grants [Member] | Mike Phillips [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Cancelled (in shares) | (676,000) | (676,000) | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares granted and cancelled (in shares) | 676,000 | 676,000 | ||||||||||
Additional Share Grants [Member] | Nils Brauckmann [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Cancelled (in shares) | (500,000) | (500,000) | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares granted and cancelled (in shares) | 500,000 | 500,000 | ||||||||||
New Additional Share Grants [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Granted (in shares) | 3,899,000 | 3,899,000 | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares replacement (in shares) | 3,899,000 | 3,899,000 | ||||||||||
New Additional Share Grants [Member] | Kevin Loosemore [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Granted (in shares) | 1,100,000 | 1,100,000 | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares replacement (in shares) | 1,100,000 | 1,100,000 | ||||||||||
New Additional Share Grants [Member] | Stephen Murdoch [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Granted (in shares) | 947,000 | 947,000 | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares replacement (in shares) | 947,000 | 947,000 | ||||||||||
New Additional Share Grants [Member] | Chris Kennedy [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Granted (in shares) | 676,000 | [3] | 676,000 | [3] | ||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares replacement (in shares) | 676,000 | [3] | 676,000 | [3] | ||||||||
New Additional Share Grants [Member] | Mike Phillips [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Granted (in shares) | 676,000 | 676,000 | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares replacement (in shares) | 676,000 | 676,000 | ||||||||||
New Additional Share Grants [Member] | Nils Brauckmann [Member] | ||||||||||||
Number of Options [Abstract] | ||||||||||||
Granted (in shares) | 500,000 | 500,000 | ||||||||||
Number of Granted and Cancelled shares [Abstract] | ||||||||||||
Number of shares replacement (in shares) | 500,000 | 500,000 | ||||||||||
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||||||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||||||||
[3] | The share options awarded to Chris Kennedy's replacement HPE Software ASGs will lapse as a result of his resignation and subsequent leaving employment in February 2019. This has been reflected in the share options disclosures. |
Employees and directors, Shares
Employees and directors, Sharesave and Employee Stock Purchase Plan 2006 (Details) $ in Thousands | 12 Months Ended | 18 Months Ended | ||||||
Apr. 30, 2017USD ($)shares | Apr. 30, 2017GBP (£)shares | Apr. 30, 2016USD ($)shares | Apr. 30, 2016GBP (£)shares | Oct. 31, 2018USD ($)sharesPlan | Oct. 31, 2018GBP (£)sharesPlan | |||
Share-Based Plans Outstanding [Abstract] | ||||||||
Exercised (in shares) | shares | (8,607,889) | (8,607,889) | (9,264,743) | (9,264,743) | (18,156,060) | (18,156,060) | ||
Outstanding at ending period (in shares) | shares | 800,000 | 800,000 | ||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Weighted average share price at the grant date (in pounds per share) | £ 11.05 | £ 18.35 | ||||||
Expected option life | 3 | 3 | 1.96 | 1.96 | ||||
Number of employee benefit plans | Plan | 2 | 2 | ||||||
Share based compensation charge | $ | $ 31,463 | [1],[2] | $ 26,254 | [1],[2] | $ 64,284 | |||
Bottom of Range [Member] | ||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Expected volatility | 25.81% | 25.81% | 28.00% | 28.00% | ||||
Expected dividend yield | 2.90% | 2.90% | 3.26% | 3.26% | ||||
Annual risk-free interest rate | 1.71% | 1.71% | 0.43% | 0.43% | ||||
Top of Range [Member] | ||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Expected volatility | 26.11% | 26.11% | 31.00% | 31.00% | ||||
Expected dividend yield | 3.30% | 3.30% | 5.29% | 5.29% | ||||
Annual risk-free interest rate | 2.08% | 2.08% | 0.84% | 0.84% | ||||
October 1, 2018 - December 31, 2018 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 19,000 | 19,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | October 1, 2016 | October 1, 2016 | ||||||
Exercise price per share (in pounds per share) | £ 18.756 | |||||||
March 1, 2020 - May 31, 2020 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 337,000 | 337,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | March 1, 2018 | March 1, 2018 | ||||||
Exercise price per share (in pounds per share) | £ 12.356 | |||||||
July 1, 2020 - September 30, 2020 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 444,000 | 444,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | July 1, 2018 | July 1, 2018 | ||||||
Exercise price per share (in pounds per share) | £ 8.685 | |||||||
Sharesave Plan 2006 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at beginning period (in shares) | shares | 544,000 | 544,000 | 559,000 | 559,000 | ||||
Exercised (in shares) | shares | (90,000) | (90,000) | (294,000) | (294,000) | ||||
Forfeited (in shares) | shares | (28,000) | (28,000) | (223,000) | (223,000) | ||||
Granted (in shares) | shares | 133,000 | 133,000 | 454,000 | 454,000 | ||||
Outstanding at ending period (in shares) | shares | 559,000 | 559,000 | 544,000 | 544,000 | 496,000 | 496,000 | ||
Exercisable at ending period (in shares) | shares | 0 | 0 | 47,000 | |||||
Weighted Average Exercise Price [Abstract] | ||||||||
Outstanding at beginning period (in pounds per share) | £ 8.62 | £ 10.39 | ||||||
Exercised (in pounds per share) | 6.18 | 8.29 | ||||||
Forfeited (in pounds per share) | 10.01 | 15.08 | ||||||
Granted (in pounds per share) | 14.66 | 12.93 | ||||||
Outstanding at period end (in pounds per share) | 10.39 | £ 8.62 | 11.85 | |||||
Exercisable at ending period (in pounds per share) | £ 0 | £ 11.16 | ||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Employee plans saving period | 3 years | 3 years | ||||||
Percentage of grants of option with option price at discount | 20.00% | 20.00% | ||||||
Sharesave Plan 2006 [Member] | April 1, 2018 - September 30, 2018 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 1,000 | 1,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | February 10, 2015 | February 10, 2015 | ||||||
Exercise price per share (in pounds per share) | £ 8.384 | |||||||
Sharesave Plan 2006 [Member] | October 1, 2018 - March 31, 2019 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 46,000 | 46,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | August 7, 2015 | August 7, 2015 | ||||||
Exercise price per share (in pounds per share) | £ 11.120 | |||||||
Sharesave Plan 2006 [Member] | April 1, 2019 - September 30, 2019 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 40,000 | 40,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | February 9, 2016 | February 9, 2016 | ||||||
Exercise price per share (in pounds per share) | £ 12 | |||||||
Sharesave Plan 2006 [Member] | October 1, 2019 - February 1, 2020 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 80,000 | 80,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | August 12, 2016 | August 12, 2016 | ||||||
Exercise price per share (in pounds per share) | £ 14.656 | |||||||
Sharesave Plan 2006 [Member] | April 1, 2021 - September 30, 2021 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 43,000 | 43,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | February 23, 2018 | February 23, 2018 | ||||||
Exercise price per share (in pounds per share) | £ 17.200 | |||||||
Sharesave Plan 2006 [Member] | October 1, 2021 - March 31, 2022 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 264,000 | 264,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | August 3, 2018 | August 3, 2018 | ||||||
Exercise price per share (in pounds per share) | £ 10.230 | |||||||
Sharesave Plan 2006 [Member] | October 1, 2021 - April 1, 2022 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at ending period (in shares) | shares | 22,000 | 22,000 | ||||||
Weighted Average Exercise Price [Abstract] | ||||||||
Date of grant | August 3, 2018 | August 3, 2018 | ||||||
Exercise price per share (in pounds per share) | £ 11.590 | |||||||
Employee Stock Purchase Plan 2006 [Member] | ||||||||
Share-Based Plans Outstanding [Abstract] | ||||||||
Outstanding at beginning period (in shares) | shares | 272,000 | 272,000 | 124,000 | 124,000 | ||||
Exercised (in shares) | shares | (93,000) | (93,000) | (110,000) | (110,000) | ||||
Forfeited (in shares) | shares | (142,000) | (142,000) | (32,000) | (32,000) | ||||
Granted (in shares) | shares | 87,000 | 87,000 | 817,000 | 817,000 | ||||
Outstanding at ending period (in shares) | shares | 124,000 | 124,000 | 272,000 | 272,000 | 800,000 | 800,000 | ||
Exercisable at ending period (in shares) | shares | 0 | 0 | 0 | |||||
Weighted Average Exercise Price [Abstract] | ||||||||
Outstanding at beginning period (in pounds per share) | £ 10.80 | £ 15.10 | ||||||
Exercised (in pounds per share) | 9.98 | 15.98 | ||||||
Forfeited (in pounds per share) | 12.20 | 12.36 | ||||||
Granted (in pounds per share) | 18.36 | 10.57 | ||||||
Outstanding at period end (in pounds per share) | 15.10 | £ 10.80 | 10.47 | |||||
Exercisable at ending period (in pounds per share) | 0 | 10.21 | ||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Weighted average share price at the grant date (in pounds per share) | £ 20.56 | £ 15.48 | ||||||
Expected volatility | 26.95% | 26.95% | ||||||
Expected dividend yield | 2.60% | 2.60% | ||||||
Annual risk-free interest rate | 0.61% | 0.61% | ||||||
Employee plans saving period | 2 years | 2 years | ||||||
Percentage of grants of option with option price at discount | 15.00% | 15.00% | ||||||
Employee Stock Purchase Plan 2006 [Member] | Bottom of Range [Member] | ||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Expected volatility | 28.82% | 28.82% | ||||||
Expected dividend yield | 3.86% | 3.86% | ||||||
Expected option life | 2 | 2 | 2 | 2 | ||||
Annual risk-free interest rate | 1.30% | 1.30% | ||||||
Employee Stock Purchase Plan 2006 [Member] | Top of Range [Member] | ||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Expected volatility | 48.60% | 48.60% | ||||||
Expected dividend yield | 7.02% | 7.02% | ||||||
Expected option life | 3 | 3 | 3 | 3 | ||||
Annual risk-free interest rate | 1.50% | 1.50% | ||||||
Sharesave Plan and Employee Stock Purchase Plan 2006 [Member] | ||||||||
Share-Based Payment Significant Inputs [Abstract] | ||||||||
Weighted average share price at the grant date (in pounds per share) | £ 5.36 | £ 6.28 | ||||||
Share based compensation charge | $ | $ 1,100 | $ 900 | $ 2,900 | |||||
[1] | The comparatives for the 12 months to April 30, 2017 and 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | |||||||
[2] | The comparatives for the 12 months to April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). |
Operating lease commitments -_3
Operating lease commitments - minimum lease payments (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Oct. 31, 2018 | |
Future minimum lease payments under non-cancellable operating leases expiring [Abstract] | |||
Total | $ 142,087 | $ 228,029 | |
Minimum operating lease payments recognized as an expense | 26,300 | $ 23,400 | 103,800 |
No Later Than One Year [Member] | |||
Future minimum lease payments under non-cancellable operating leases expiring [Abstract] | |||
Total | 28,330 | 65,831 | |
Later Than One Year and No Later Than Five Years [Member] | |||
Future minimum lease payments under non-cancellable operating leases expiring [Abstract] | |||
Total | 85,008 | 139,695 | |
Later Than Five Years [Member] | |||
Future minimum lease payments under non-cancellable operating leases expiring [Abstract] | |||
Total | $ 28,749 | $ 22,503 |
Contingent liabilities (Details
Contingent liabilities (Details) $ in Millions | 18 Months Ended |
Oct. 31, 2018USD ($)Lawsuit | |
Contingent liabilities [Abstract] | |
Number of class action lawsuits | Lawsuit | 2 |
Liability recognized | $ | $ 0 |
Business combinations, Summary
Business combinations, Summary of Acquisitions (Details) $ in Thousands, € in Millions | Oct. 31, 2018USD ($) | Dec. 01, 2017USD ($) | Dec. 01, 2017EUR (€) | Sep. 01, 2017USD ($) | Apr. 30, 2017USD ($) | Oct. 31, 2016USD ($) | Oct. 31, 2016EUR (€) | Sep. 30, 2016USD ($) | May 02, 2016USD ($) | Apr. 30, 2016USD ($) | Jul. 17, 2015USD ($) |
Summary of acquisitions [Abstract] | |||||||||||
Goodwill | $ 4,863,962 | $ 392,436 | |||||||||
Shares consideration | 6,514,170 | 0 | |||||||||
Cash consideration | 16,662 | 299,061 | |||||||||
Total consideration | 6,530,832 | 299,061 | |||||||||
Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | (2,490,868) | 147,878 | |||||||||
Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 4,157,738 | (241,253) | |||||||||
HPE Software Business [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 1,655,796 | ||||||||||
Goodwill | 4,858,374 | 4,858,374 | |||||||||
Shares consideration | 6,514,170 | 6,514,170 | |||||||||
Cash consideration | 0 | ||||||||||
Total consideration | 6,514,170 | 6,514,170 | |||||||||
HPE Software Business [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | (2,487,916) | (2,487,916) | |||||||||
Goodwill | 0 | ||||||||||
HPE Software Business [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 4,143,712 | $ 4,143,712 | |||||||||
COBOL-IT [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Goodwill | 5,588 | $ 5,588 | |||||||||
Shares consideration | 0 | ||||||||||
Cash consideration | 16,662 | ||||||||||
Total consideration | 16,662 | $ 16,700 | € 11.3 | ||||||||
COBOL-IT [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | (2,952) | ||||||||||
COBOL-IT [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 14,026 | ||||||||||
Serena Software, Inc. [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ (102,046) | ||||||||||
Goodwill | 379,669 | 379,669 | |||||||||
Shares consideration | 0 | ||||||||||
Cash consideration | 277,623 | 277,623 | |||||||||
Total consideration | 277,623 | 277,623 | |||||||||
Serena Software, Inc. [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 147,260 | 147,260 | |||||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | (249,306) | $ (249,306) | |||||||||
GWAVA Inc. [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 3,680 | ||||||||||
Goodwill | 12,767 | 12,767 | |||||||||
Shares consideration | 0 | ||||||||||
Cash consideration | 16,447 | 16,447 | |||||||||
Total consideration | 16,447 | 16,447 | |||||||||
GWAVA Inc. [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 618 | 618 | |||||||||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 3,062 | $ 3,062 | |||||||||
OpenATTIC [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 4,991 | ||||||||||
Goodwill | 0 | 0 | |||||||||
Shares consideration | 0 | ||||||||||
Cash consideration | 4,991 | 4,991 | € 4.7 | ||||||||
Total consideration | 4,991 | 4,991 | |||||||||
OpenATTIC [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 0 | 0 | |||||||||
OpenATTIC [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 4,991 | $ 4,991 | |||||||||
OpenStack [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Goodwill | 0 | ||||||||||
Shares consideration | 0 | ||||||||||
Cash consideration | 0 | ||||||||||
Total consideration | 0 | ||||||||||
OpenStack [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 0 | ||||||||||
OpenStack [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 0 | ||||||||||
Authasas BV [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 1,120 | ||||||||||
Goodwill | $ 8,840 | 8,840 | |||||||||
Shares consideration | 0 | ||||||||||
Cash consideration | 9,960 | 9,960 | |||||||||
Total consideration | 9,960 | 9,960 | |||||||||
Authasas BV [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | 1,110 | 1,110 | |||||||||
Authasas BV [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 10 | $ 10 | |||||||||
Total Acquisitions [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Goodwill | 5,265,238 | ||||||||||
Shares consideration | 6,514,170 | ||||||||||
Cash consideration | 325,683 | ||||||||||
Total consideration | 6,839,853 | ||||||||||
Total Acquisitions [Member] | Carrying Value at Acquisition [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | (2,341,880) | ||||||||||
Total Acquisitions [Member] | Fair Value Adjustments [Member] | |||||||||||
Summary of acquisitions [Abstract] | |||||||||||
Net (liabilities)/assets | $ 3,916,495 |
Business combinations, Acquisit
Business combinations, Acquisition of HPE Software Business (Details) - USD ($) $ in Thousands | Sep. 01, 2017 | Oct. 31, 2018 | Apr. 30, 2017 | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Goodwill | $ 4,863,962 | $ 392,436 | ||
Consideration | 6,530,832 | 299,061 | ||
Consideration satisfied by [Abstract] | ||||
Shares | 6,514,170 | 0 | ||
Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | (2,490,868) | 147,878 | ||
Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | 4,157,738 | $ (241,253) | ||
HPE Software Business [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | $ 6,539,825 | |||
Property, plant and equipment | 160,118 | |||
Other non-current assets | 41,929 | |||
Inventories | 185 | |||
Trade and other receivables | 721,009 | |||
Current tax recoverable | 496 | |||
Cash and cash equivalents | 320,729 | |||
Trade and other payables | (685,239) | |||
Current tax liabilities | (9,942) | |||
Borrowings | (2,547,604) | |||
Short-term provisions | (30,182) | |||
Short-term deferred income | (643,165) | |||
Long-term deferred income | (108,206) | |||
Long-term provisions | (38,983) | |||
Retirement benefit obligations | (71,445) | |||
Other non-current liabilities | (40,276) | |||
Deferred tax liabilities | (1,953,453) | |||
Net (liabilities)/assets | 1,655,796 | |||
Goodwill | 4,858,374 | 4,858,374 | ||
Consideration | 6,514,170 | 6,514,170 | ||
Consideration satisfied by [Abstract] | ||||
Shares | $ 6,514,170 | 6,514,170 | ||
Number of shares issued (in shares) | 222,166,897 | |||
Percentage of shares issued as part of acquisition on fully diluted share capital | 50.10% | |||
Acquisition costs | $ 70,100 | |||
Repayment of working capital | 225,800 | |||
Net provision for impairment of trade receivables | 21,500 | |||
HPE Software Business [Member] | Carrying Value at Acquisition [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 72,825 | |||
Property, plant and equipment | 160,118 | |||
Other non-current assets | 41,929 | |||
Inventories | 185 | |||
Trade and other receivables | 721,009 | |||
Current tax recoverable | 496 | |||
Cash and cash equivalents | 320,729 | |||
Trade and other payables | (686,855) | |||
Current tax liabilities | (9,942) | |||
Borrowings | (2,547,604) | |||
Short-term provisions | (30,182) | |||
Short-term deferred income | (701,169) | |||
Long-term deferred income | (116,858) | |||
Long-term provisions | (38,983) | |||
Retirement benefit obligations | (71,445) | |||
Other non-current liabilities | (52,421) | |||
Deferred tax liabilities | 450,252 | |||
Net (liabilities)/assets | (2,487,916) | (2,487,916) | ||
Goodwill | 0 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | [1] | 6,467,000 | ||
Property, plant and equipment | 0 | |||
Other non-current assets | 0 | |||
Inventories | 0 | |||
Trade and other receivables | 0 | |||
Current tax recoverable | 0 | |||
Cash and cash equivalents | 0 | |||
Trade and other payables | 1,616 | |||
Current tax liabilities | 0 | |||
Borrowings | 0 | |||
Short-term provisions | 0 | |||
Short-term deferred income | [2] | 58,004 | ||
Long-term deferred income | [2] | 8,652 | ||
Long-term provisions | 0 | |||
Retirement benefit obligations | 0 | |||
Other non-current liabilities | 12,145 | |||
Deferred tax liabilities | [3] | (2,403,705) | ||
Net (liabilities)/assets | 4,143,712 | $ 4,143,712 | ||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Technology [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 1,809,000 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 4,480,000 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Trade Names [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | 163,000 | |||
HPE Software Business [Member] | Fair Value Adjustments [Member] | Leases [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets | $ 15,000 | |||
[1] | Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of The HPE Software business; | |||
[2] | Deferred income has been valued taking account of the remaining performance obligations; | |||
[3] | A deferred tax liability has been established relating to the purchase of intangibles. |
Business combinations, Acquis_2
Business combinations, Acquisition of COBOL-IT, SAS (Details) $ in Thousands, € in Millions | Oct. 31, 2018USD ($) | Dec. 01, 2017USD ($) | Dec. 01, 2017EUR (€) | Apr. 30, 2017USD ($) |
Acquisition [Abstract] | ||||
Consideration | $ 6,530,832 | $ 299,061 | ||
Goodwill | 4,863,962 | $ 392,436 | ||
COBOL-IT [Member] | ||||
Acquisition [Abstract] | ||||
Consideration | 16,662 | $ 16,700 | € 11.3 | |
Retention amount, payable | € | € 2.7 | |||
Goodwill | $ 5,588 | 5,588 | ||
Deferred tax liabilities | 3,900 | |||
Intangible assets | 14,000 | |||
Cash | 1,000 | |||
COBOL-IT [Member] | Purchased Technology [Member] | ||||
Acquisition [Abstract] | ||||
Intangible assets | 1,500 | |||
COBOL-IT [Member] | Customer Relationships [Member] | ||||
Acquisition [Abstract] | ||||
Intangible assets | 12,300 | |||
COBOL-IT [Member] | Trade Names [Member] | ||||
Acquisition [Abstract] | ||||
Intangible assets | $ 200 |
Business combinations, Acquis_3
Business combinations, Acquisition of Covertix (Details) $ in Thousands | May 15, 2018USD ($)Employee | Oct. 31, 2018USD ($) | Apr. 30, 2017USD ($) |
Acquisition [Abstract] | |||
Cash payment for acquisition | $ 16,662 | $ 299,061 | |
Covertix [Member] | |||
Acquisition [Abstract] | |||
Cash payment for acquisition | $ 2,500 | ||
Number of employees involved in R&D activities | Employee | 7 |
Business combinations, Acquis_4
Business combinations, Acquisition of Serena Software Inc. (Details) $ in Thousands, £ in Millions | May 02, 2016USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2016GBP (£) | Apr. 30, 2017USD ($)Country | Apr. 30, 2016USD ($)Country | Oct. 31, 2018USD ($)Country | |
Acquisition [Abstract] | |||||||
Repayment of outstanding borrowings | $ 372,062 | $ 157,750 | $ 252,936 | ||||
Cash payment for acquisition | 299,061 | 9,960 | 19,260 | ||||
Net cash acquired | $ 68,173 | $ 106 | $ 321,668 | ||||
Number of business operating countries | Country | 40 | 39 | 49 | ||||
Underwritten cost | $ 2,979 | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Goodwill | $ 2,828,604 | 2,436,168 | $ 6,805,043 | ||||
Goodwill | 392,436 | 4,863,962 | |||||
Consideration | 299,061 | 6,530,832 | |||||
Consideration satisfied by [Abstract] | |||||||
Cash | 299,061 | 16,662 | |||||
Carrying Value at Acquisition [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Net (liabilities)/assets | 147,878 | (2,490,868) | |||||
Fair Value Adjustments [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Net (liabilities)/assets | (241,253) | 4,157,738 | |||||
Revolving Credit Facility [Member] | |||||||
Acquisition [Abstract] | |||||||
Repayment of outstanding borrowings | 325,000 | $ 215,000 | |||||
Serena Software, Inc. [Member] | |||||||
Acquisition [Abstract] | |||||||
Repayment of outstanding borrowings | $ 316,700 | ||||||
Cash payment for acquisition | 528,500 | ||||||
Net cash acquired | 65,800 | ||||||
Acquisition costs | 900 | $ 500 | |||||
Number of business operating countries | Country | 10 | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Goodwill | 0 | ||||||
Intangible assets - purchased | 317,700 | ||||||
Intangible assets - other | 79 | ||||||
Property, plant and equipment | 1,927 | ||||||
Other non-current assets | 167 | ||||||
Deferred tax asset | 15,347 | ||||||
Trade and other receivables | 27,362 | ||||||
Cash and cash equivalents | 65,784 | ||||||
Borrowings - short-term | (27,712) | ||||||
Trade and other payables | (11,766) | ||||||
Provisions - short-term | (4,045) | ||||||
Current tax liabilities | (3,173) | ||||||
Deferred income - short-term | (68,456) | ||||||
Deferred income - long-term | (14,055) | ||||||
Borrowings - long-term | (288,938) | ||||||
Other non-current liabilities | (717) | ||||||
Deferred tax liabilities | (111,550) | ||||||
Net (liabilities)/assets | (102,046) | ||||||
Goodwill | 379,669 | 379,669 | |||||
Consideration | 277,623 | 277,623 | |||||
Consideration satisfied by [Abstract] | |||||||
Cash | 277,623 | 277,623 | |||||
Serena Software, Inc. [Member] | Carrying Value at Acquisition [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Goodwill | 462,400 | ||||||
Intangible assets - purchased | 0 | ||||||
Intangible assets - other | 79 | ||||||
Property, plant and equipment | 1,927 | ||||||
Other non-current assets | 167 | ||||||
Deferred tax asset | 15,347 | ||||||
Trade and other receivables | 27,362 | ||||||
Cash and cash equivalents | 65,784 | ||||||
Borrowings - short-term | (27,712) | ||||||
Trade and other payables | (11,766) | ||||||
Provisions - short-term | (4,045) | ||||||
Current tax liabilities | (3,173) | ||||||
Deferred income - short-term | (72,217) | ||||||
Deferred income - long-term | (14,853) | ||||||
Borrowings - long-term | (288,938) | ||||||
Other non-current liabilities | (717) | ||||||
Deferred tax liabilities | (2,385) | ||||||
Net (liabilities)/assets | 147,260 | 147,260 | |||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Goodwill | (462,400) | ||||||
Intangible assets - purchased | [1] | 317,700 | |||||
Intangible assets - other | 0 | ||||||
Property, plant and equipment | 0 | ||||||
Other non-current assets | 0 | ||||||
Deferred tax asset | 0 | ||||||
Trade and other receivables | 0 | ||||||
Cash and cash equivalents | 0 | ||||||
Borrowings - short-term | 0 | ||||||
Trade and other payables | 0 | ||||||
Provisions - short-term | 0 | ||||||
Current tax liabilities | 0 | ||||||
Deferred income - short-term | [2] | 3,761 | |||||
Deferred income - long-term | [2] | 798 | |||||
Borrowings - long-term | 0 | ||||||
Other non-current liabilities | 0 | ||||||
Deferred tax liabilities | [3] | (109,165) | |||||
Net (liabilities)/assets | (249,306) | $ (249,306) | |||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | Technology [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Intangible assets - purchased | 86,100 | ||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Intangible assets - purchased | 210,200 | ||||||
Serena Software, Inc. [Member] | Fair Value Adjustments [Member] | Trade Names [Member] | |||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||||
Intangible assets - purchased | 21,400 | ||||||
Serena Software, Inc. [Member] | Revolving Credit Facility [Member] | |||||||
Acquisition [Abstract] | |||||||
Face amount | $ 225,000 | $ 375,000 | |||||
Serena Software, Inc. [Member] | Numis Securities [Member] | |||||||
Acquisition [Abstract] | |||||||
Proceeds from private placement | $ 225,700 | £ 158.2 | |||||
Underwritten cost | $ 3,000 | ||||||
[1] | Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Serena; | ||||||
[2] | Deferred income has been valued taking account of the remaining performance obligations; and | ||||||
[3] | A deferred tax liability has been established relating to the purchase of intangibles. |
Business combinations, Acquis_5
Business combinations, Acquisition of GWAVA Inc. (Details) $ in Thousands | Sep. 30, 2016USD ($)CountryEmployeeUserOrganisationPartner | Oct. 31, 2018USD ($) | Apr. 30, 2017USD ($) | |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Goodwill | $ 4,863,962 | $ 392,436 | ||
Consideration | 6,530,832 | 299,061 | ||
Consideration satisfied by [Abstract] | ||||
Cash | 16,662 | 299,061 | ||
Gross Carrying Amount [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | (2,490,868) | 147,878 | ||
Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Net (liabilities)/assets | $ 4,157,738 | (241,253) | ||
GWAVA Inc. [Member] | ||||
Acquisition [Abstract] | ||||
Acquisition transaction costs | $ 1,500 | |||
Number of countries | Country | 60 | |||
Number of customer organisations | Organisation | 3,000 | |||
Number of business partners | Partner | 1,000 | |||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | $ 5,330 | |||
Intangible assets - other | 0 | |||
Property, plant and equipment | 195 | |||
Trade and other receivables | 3,096 | |||
Cash and cash equivalents | 2,389 | |||
Trade and other payables | (1,331) | |||
Deferred income - short-term | (3,770) | |||
Deferred income - long-term | (817) | |||
Deferred tax liabilities | (1,412) | |||
Net (liabilities)/assets | 3,680 | |||
Goodwill | 12,767 | 12,767 | ||
Consideration | 16,447 | 16,447 | ||
Consideration satisfied by [Abstract] | ||||
Cash | $ 16,447 | 16,447 | ||
GWAVA Inc. [Member] | Bottom of Range [Member] | ||||
Acquisition [Abstract] | ||||
Number of users | User | 1,000,000 | |||
GWAVA Inc. [Member] | US, Canada and Germany [Member] | ||||
Acquisition [Abstract] | ||||
Number of employees | Employee | 90 | |||
GWAVA Inc. [Member] | Gross Carrying Amount [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | $ 0 | |||
Intangible assets - other | 1,180 | |||
Property, plant and equipment | 195 | |||
Trade and other receivables | 3,096 | |||
Cash and cash equivalents | 2,389 | |||
Trade and other payables | (1,331) | |||
Deferred income - short-term | (4,094) | |||
Deferred income - long-term | (817) | |||
Deferred tax liabilities | 0 | |||
Net (liabilities)/assets | 618 | 618 | ||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | [1] | 5,330 | ||
Intangible assets - other | [2] | (1,180) | ||
Property, plant and equipment | 0 | |||
Trade and other receivables | 0 | |||
Cash and cash equivalents | 0 | |||
Trade and other payables | 0 | |||
Deferred income - short-term | [3] | 324 | ||
Deferred income - long-term | 0 | |||
Deferred tax liabilities | [4] | (1,412) | ||
Net (liabilities)/assets | 3,062 | $ 3,062 | ||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | Technology [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | 4,075 | |||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | 544 | |||
GWAVA Inc. [Member] | Fair Value Adjustments [Member] | Trade Names [Member] | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||
Intangible assets - purchased | $ 711 | |||
[1] | Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of GWAVA Inc.; | |||
[2] | Other intangible assets relating to historic IP has been written down to nil; | |||
[3] | Deferred income has been valued taking account of the remaining performance obligations; and | |||
[4] | A deferred tax liability has been established relating to the purchase of intangibles. |
Business combinations, Acquis_6
Business combinations, Acquisition of OpenATTIC (Details) $ in Thousands, € in Millions | Nov. 01, 2016USD ($) | Oct. 31, 2018USD ($) | Apr. 30, 2017USD ($) | Oct. 31, 2016USD ($) | Oct. 31, 2016EUR (€) |
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Goodwill | $ 4,863,962 | $ 392,436 | |||
Consideration | 6,530,832 | 299,061 | |||
Consideration satisfied by [Abstract] | |||||
Cash | 16,662 | 299,061 | |||
Gross Carrying Amount [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | (2,490,868) | 147,878 | |||
Fair value adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Net (liabilities)/assets | $ 4,157,738 | (241,253) | |||
OpenATTIC [Member] | |||||
Business Combination [Abstract] | |||||
Acquisition transaction costs | $ 1,200 | ||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets - purchased | $ 4,991 | ||||
Net (liabilities)/assets | 4,991 | ||||
Goodwill | 0 | 0 | |||
Consideration | 4,991 | 4,991 | |||
Consideration satisfied by [Abstract] | |||||
Cash | 4,991 | 4,991 | € 4.7 | ||
OpenATTIC [Member] | Gross Carrying Amount [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets - purchased | 0 | ||||
Net (liabilities)/assets | 0 | 0 | |||
OpenATTIC [Member] | Fair value adjustments [Member] | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | |||||
Intangible assets - purchased | 4,991 | ||||
Net (liabilities)/assets | $ 4,991 | $ 4,991 |
Business combinations, Acquis_7
Business combinations, Acquisition of OpenStack (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Apr. 30, 2017 |
Business Combination [Abstract] | ||
Cash consideration | $ 16,662 | $ 299,061 |
OpenStack [Member] | ||
Business Combination [Abstract] | ||
Cash consideration | $ 0 |
Business combinations, Acquis_8
Business combinations, Acquisition of Authasas BV (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Apr. 30, 2016 | Apr. 30, 2016 | Oct. 31, 2018 | Apr. 30, 2017 | Jul. 17, 2015 | ||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Goodwill | $ 4,863,962 | $ 392,436 | ||||
Consideration | 6,530,832 | 299,061 | ||||
Consideration satisfied by [Abstract] | ||||||
Cash | 16,662 | 299,061 | ||||
Carrying Value at Acquisition [Member] | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Net (liabilities)/assets | (2,490,868) | 147,878 | ||||
Fair Value Adjustments [Member] | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Net (liabilities)/assets | $ 4,157,738 | $ (241,253) | ||||
Authasas BV [Member] | ||||||
Business Combination [Abstract] | ||||||
Acquisition transaction costs | $ 500 | |||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Intangible assets - purchased | $ 3,356 | |||||
Intangible assets - other | 0 | |||||
Property, plant and equipment | 14 | |||||
Inventory | 11 | |||||
Deferred tax asset | 0 | |||||
Trade and other receivables | 463 | |||||
Cash and cash equivalents | 106 | |||||
Trade and other payables | (1,864) | |||||
Deferred tax liabilities | (966) | |||||
Net (liabilities)/assets | 1,120 | |||||
Goodwill | $ 8,840 | 8,840 | 8,840 | |||
Consideration | 9,960 | 9,960 | 9,960 | |||
Consideration satisfied by [Abstract] | ||||||
Cash | 9,960 | 9,960 | 9,960 | |||
Business acquisition, pro-forma [Abstract] | ||||||
Revenue | 100 | |||||
Authasas BV [Member] | Carrying Value at Acquisition [Member] | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Intangible assets - purchased | 0 | |||||
Intangible assets - other | 1,973 | |||||
Property, plant and equipment | 14 | |||||
Inventory | 11 | |||||
Deferred tax asset | 339 | |||||
Trade and other receivables | 463 | |||||
Cash and cash equivalents | 106 | |||||
Trade and other payables | (1,796) | |||||
Deferred tax liabilities | 0 | |||||
Net (liabilities)/assets | 1,110 | 1,110 | 1,110 | |||
Authasas BV [Member] | Fair Value Adjustments [Member] | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Intangible assets - purchased | [1] | 3,356 | ||||
Intangible assets - other | [2] | (1,973) | ||||
Property, plant and equipment | 0 | |||||
Inventory | 0 | |||||
Deferred tax asset | [3] | (339) | ||||
Trade and other receivables | 0 | |||||
Cash and cash equivalents | 0 | |||||
Trade and other payables | [4] | (68) | ||||
Deferred tax liabilities | [5] | (966) | ||||
Net (liabilities)/assets | $ 10 | $ 10 | 10 | |||
Authasas BV [Member] | Fair Value Adjustments [Member] | Technology [Member] | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Intangible assets - purchased | 2,545 | |||||
Authasas BV [Member] | Fair Value Adjustments [Member] | Customer Relationships [Member] | ||||||
Details of Net Assets (Liabilities) Acquired and Goodwill [Abstract] | ||||||
Intangible assets - purchased | $ 811 | |||||
[1] | Purchased intangible assets have been valued based on a market participant point of view and the fair value has been based on various characteristics of the product lines and intangible assets of Authasas BV; | |||||
[2] | Other intangible assets relating to product development costs have been written down to nil; | |||||
[3] | The deferred tax asset on acquisition has been written down to nil; | |||||
[4] | Deferred income has been valued taking account of the remaining performance obligations; | |||||
[5] | A deferred tax liability has been established relating to the purchase of intangibles. |
Cash Flow Statement (Details)
Cash Flow Statement (Details) - USD ($) $ in Thousands | 12 Months Ended | 18 Months Ended | |||
Apr. 30, 2017 | [2] | Apr. 30, 2016 | [2] | Oct. 31, 2018 | |
Cash flows from operating activities [Abstract] | |||||
Profit from continuing operations | $ 124,083 | [1],[3] | $ 135,979 | [3],[4] | $ 707,193 |
Profit from discontinued operation | 33,720 | [1],[3] | 26,993 | [3],[4] | 76,940 |
Profit for the period | 157,803 | [1] | 162,972 | [4] | 784,133 |
Adjustments for [Abstract] | |||||
Net interest | 95,845 | 97,348 | 342,712 | ||
Taxation | 38,541 | 32,424 | (638,875) | ||
Share of results of associates | 1,254 | 2,190 | 1,809 | ||
Operating profit | 293,443 | 294,934 | 489,779 | ||
Research and development tax credits | (2,998) | (2,041) | (2,013) | ||
Depreciation | 11,794 | 11,419 | 95,179 | ||
Loss on disposal of property, plant and equipment | 520 | 109 | 4,581 | ||
Amortization of intangible assets | 236,434 | 203,313 | 943,210 | ||
Share based compensation charge | 34,506 | 28,793 | 72,175 | ||
Exchange movements | (4,890) | (2,915) | (34,505) | ||
Provisions movements | 47,266 | 12,985 | 142,859 | ||
Changes in working capital [Abstract] | |||||
Inventories | 29 | 28 | 35 | ||
Trade and other receivables | 10,224 | (49,175) | (408,879) | ||
Payables and other liabilities | (33,252) | 30,923 | 131,333 | ||
Provision utilization | (43,476) | (55,639) | (145,012) | ||
Deferred income | 15,375 | (16,603) | 131,477 | ||
Pension funding in excess of charge to operating profit | (183) | (18) | 4,092 | ||
Cash generated from operations | $ 564,792 | $ 456,113 | $ 1,424,311 | ||
[1] | The 12 months to April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[2] | The comparatives for the 12 months ended April 30, 2017 and April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[3] | The comparatives for the 12 months to April 30, 2016 and April 30, 2017 have been revised to reflect the divestiture of the SUSE business segment (note 19). | ||||
[4] | The 12 months to April 30, 2016 have been revised to reflect the divestiture of the SUSE business segment (note 19) |
Post Balance Sheet Events (Deta
Post Balance Sheet Events (Details) $ in Thousands | Feb. 14, 2019USD ($)shares | Feb. 13, 2019USD ($)shares | Feb. 13, 2019£ / shares | Nov. 05, 2018USD ($) | Apr. 30, 2017USD ($) | Oct. 31, 2018USD ($)shares | Aug. 29, 2018USD ($) |
Post balance sheet events [Abstract] | |||||||
Sale of product line | $ 2,535,000 | ||||||
Shares repurchased | $ 7,678 | ||||||
Atalla [Member] | |||||||
Post balance sheet events [Abstract] | |||||||
Sale of product line | $ 20,000 | ||||||
Share Buy-back [Member] | |||||||
Post balance sheet events [Abstract] | |||||||
Amount authorized under buy-back program | $ 400,000 | $ 200,000 | |||||
Shares repurchased | $ 400,000 | $ 171,200 | |||||
Number of shares repurchased (in shares) | shares | 22,455,121 | 9,858,205 | |||||
Average share price (in pounds per share) | £ / shares | £ 13.82 | ||||||
Expiration date | Mar. 29, 2019 | ||||||
Share Buy-back [Member] | Top of Range [Member] | |||||||
Post balance sheet events [Abstract] | |||||||
Amount authorized under buy-back program | $ 110,000 | ||||||
Number of ordinary shares authorized for repurchase (in shares) | shares | 65,211,171 |