Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Documentand Entity Information [Abstract] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | FY |
Trading Symbol | REL |
Entity Registrant Name | RELX PLC |
Entity Central Index Key | 929,869 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 1,961,889,715 |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Consolidated Income Statement
Consolidated Income Statement - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue | £ 7,492 | £ 7,341 | £ 6,889 |
Cost of sales | (2,644) | (2,628) | (2,488) |
Gross profit | 4,848 | 4,713 | 4,401 |
Selling and distribution costs | (1,191) | (1,163) | (1,109) |
Administration and other expenses | (1,725) | (1,682) | (1,621) |
Share of results of joint ventures | 32 | 37 | 37 |
Operating profit | 1,964 | 1,905 | 1,708 |
Finance income | 6 | 6 | 10 |
Finance costs | (217) | (205) | (223) |
Net finance costs | (211) | (199) | (213) |
Disposals and other non-operating items | (33) | 15 | (36) |
Profit before tax | 1,720 | 1,721 | 1,459 |
Current tax | (297) | (439) | (374) |
Deferred tax | 5 | 374 | 73 |
Tax expense | (292) | (65) | (301) |
Net profit for the year | 1,428 | 1,656 | 1,158 |
Attributable to: | |||
RELX PLC shareholders | 1,422 | 1,648 | 1,150 |
Non-controlling interests | 6 | 8 | 8 |
Net profit for the year | £ 1,428 | £ 1,656 | £ 1,158 |
Basic earnings per share | |||
Basic earnings per share | £ 0.719 | £ 0.816 | £ 0.558 |
Diluted earnings per share | |||
Diluted earnings per share | 0.714 | 0.810 | 0.553 |
RELX PLC [member] | |||
Basic earnings per share | |||
Basic earnings per share | 0.719 | 0.816 | 0.558 |
Diluted earnings per share | |||
Diluted earnings per share | £ 0.714 | £ 0.810 | £ 0.553 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement Of Comprehensive Income [Abstract] | |||
Net profit for the year | £ 1,428 | £ 1,656 | £ 1,158 |
Items that will not be reclassified to profit or loss: | |||
Actuarial (losses)/gains on defined benefit pension schemes | (91) | 233 | (262) |
Tax on items that will not be reclassified to profit or loss | 15 | (59) | 45 |
Total items that will not be reclassified to profit or loss | (76) | 174 | (217) |
Items that may be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | 207 | (507) | 667 |
Fair value movements on cash flow hedges | (59) | 137 | (165) |
Transfer to net profit from cash flow hedge reserve | 17 | 25 | 46 |
Tax on items that may be reclassified to profit or loss | 9 | (30) | 19 |
Total items that may be reclassified to profit or loss | 174 | (375) | 567 |
Other comprehensive income/(loss) for the year | 98 | (201) | 350 |
Total comprehensive income for the year | 1,526 | 1,455 | 1,508 |
Attributable to: | |||
RELX PLC shareholders | 1,520 | 1,447 | 1,500 |
Non-controlling interests | 6 | 8 | 8 |
Total comprehensive income for the year | £ 1,526 | £ 1,455 | £ 1,508 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities | |||
Cash generated from operations | £ 2,555 | £ 2,526 | £ 2,311 |
Interest paid | (179) | (169) | (178) |
Interest received | 24 | 6 | 10 |
Tax paid (net) | (415) | (449) | (402) |
Net cash from operating activities | 1,985 | 1,914 | 1,741 |
Cash flows from investing activities | |||
Acquisitions | (935) | (131) | (361) |
Purchases of property, plant and equipment | (56) | (51) | (51) |
Expenditure on internally developed intangible assets | (306) | (303) | (282) |
Purchase of investments | (13) | (10) | (6) |
Proceeds from disposals of property, plant and equipment | 4 | 1 | 1 |
Gross proceeds from business disposals | 34 | 84 | 18 |
Payments on business disposals | (29) | (43) | (23) |
Dividends received from joint ventures | 30 | 38 | 44 |
Net cash used in investing activities | (1,271) | (415) | (660) |
Cash flows from financing activities | |||
Dividends paid to shareholders of RELX PLC | (796) | (762) | (683) |
Distributions to non-controlling interests | (8) | (10) | (9) |
Increase/(decrease) in short-term bank loans, overdrafts and commercial paper | 147 | (148) | 271 |
Issuance of term debt | 958 | 873 | 603 |
Repayment of term debt | (211) | (712) | (474) |
Repayment of leases | (95) | (89) | (82) |
Receipts in respect of subleases | 14 | 11 | 8 |
Repurchase of ordinary shares | (700) | (700) | (700) |
Purchase of shares by Employee Benefit Trust | (43) | (39) | (29) |
Proceeds on issue of ordinary shares | 21 | 32 | 23 |
Net cash used in financing activities | (713) | (1,544) | (1,072) |
Increase/(decrease) in cash and cash equivalents | 1 | (45) | 9 |
Movement in cash and cash equivalents | |||
At start of year | 111 | 162 | 122 |
Increase/(decrease) in cash and cash equivalents | 1 | (45) | 9 |
Exchange translation differences | 2 | (6) | 31 |
At end of year | £ 114 | £ 111 | £ 162 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Non-current assets | |||
Goodwill | £ 6,899 | £ 5,965 | £ 6,392 |
Intangible assets | 3,534 | 3,194 | 3,604 |
Investments in joint ventures | 104 | 102 | 102 |
Other investments | 151 | 141 | 137 |
Property, plant and equipment | 198 | 194 | 223 |
Right of use assets | 263 | 287 | 326 |
Deferred tax assets | 455 | 431 | 469 |
Net pension assets | 6 | 22 | |
Derivative financial instruments | 37 | 86 | 49 |
Non-current assets | 11,647 | 10,422 | 11,302 |
Current assets | |||
Inventories and pre-publication costs | 212 | 197 | 209 |
Trade and other receivables | 2,015 | 1,873 | 2,015 |
Derivative financial instruments | 10 | 29 | 20 |
Cash and cash equivalents | 114 | 111 | 162 |
Current assets | 2,351 | 2,210 | 2,406 |
Assets held for sale | 1 | 6 | |
Total assets | 13,999 | 12,632 | 13,714 |
Current liabilities | |||
Trade and other payables | 3,432 | 3,298 | 3,479 |
Derivative financial instruments | 32 | 32 | 85 |
Borrowings | 1,392 | 762 | 1,169 |
Taxation | 450 | 560 | 612 |
Provisions | 15 | 12 | 17 |
Current liabilities | 5,321 | 4,664 | 5,362 |
Non-current liabilities | |||
Derivative financial instruments | 37 | 25 | 110 |
Borrowings | 4,973 | 4,491 | 4,087 |
Deferred tax liabilities | 830 | 738 | 1,137 |
Net pension obligations | 439 | 350 | 636 |
Provisions | 36 | 51 | 69 |
Non-current liabilities | 6,315 | 5,655 | 6,039 |
Liabilities associated with assets held for sale | 4 | 5 | |
Total liabilities | 11,640 | 10,319 | 11,406 |
Net assets | 2,359 | 2,313 | 2,308 |
Capital and reserves | |||
Share capital | 290 | 224 | 226 |
Share premium | 1,415 | 3,104 | 3,003 |
Shares held in treasury | (734) | (1,631) | (1,471) |
Translation reserve | 374 | 170 | 727 |
Other reserves | 984 | 425 | (215) |
Shareholders’ equity | 2,329 | 2,292 | 2,270 |
Non-controlling interests | 30 | 21 | 38 |
Total equity | £ 2,359 | £ 2,313 | £ 2,308 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - GBP (£) £ in Millions | Total | Share capital [member] | Share premium [member] | Shares held in treasury [member] | Translation reserve [member] | Other reserves [member] | Shareholders' equity [member] | Non-controlling interests [member] |
Equity at beginning of period at Dec. 31, 2015 | £ 2,178 | £ 224 | £ 2,748 | £ (1,393) | £ 224 | £ 341 | £ 2,144 | £ 34 |
Impact of adoption of new standards | (36) | 0 | 0 | 0 | 0 | (36) | (36) | 0 |
Total comprehensive income for the year | 1,508 | 0 | 0 | 0 | 667 | 833 | 1,500 | 8 |
Dividends paid | (692) | 0 | 0 | 0 | 0 | (683) | (683) | (9) |
Issue of ordinary shares, net of expenses | 23 | 0 | 23 | 0 | 0 | 0 | 23 | 0 |
Repurchase of ordinary shares | (722) | 0 | 0 | (722) | 0 | 0 | (722) | 0 |
Cancellation of shares | 0 | (6) | 0 | 713 | 0 | (707) | 0 | 0 |
Increase in share based remuneration reserve (net of tax) | 44 | 0 | 0 | 0 | 0 | 44 | 44 | 0 |
Settlement of share awards | 0 | 0 | 0 | 39 | 0 | (39) | 0 | 0 |
Exchange differences on translation of capital and reserves | 5 | 8 | 232 | (108) | (164) | 32 | 0 | 5 |
Equity at end of period at Dec. 31, 2016 | 2,308 | 226 | 3,003 | (1,471) | 727 | (215) | 2,270 | 38 |
Total comprehensive income for the year | 1,455 | 0 | 0 | 0 | (507) | 1,954 | 1,447 | 8 |
Dividends paid | (772) | 0 | 0 | 0 | 0 | (762) | (762) | (10) |
Issue of ordinary shares, net of expenses | 32 | 0 | 32 | 0 | 0 | 0 | 32 | 0 |
Repurchase of ordinary shares | (737) | 0 | 0 | (737) | 0 | 0 | (737) | 0 |
Cancellation of shares | 0 | (4) | 0 | 570 | 0 | (566) | 0 | 0 |
Increase in share based remuneration reserve (net of tax) | 42 | 0 | 0 | 0 | 0 | 42 | 42 | 0 |
Settlement of share awards | 0 | 0 | 0 | 37 | 0 | (37) | 0 | 0 |
Acquisitions | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
Disposal of business | (15) | 0 | 0 | 0 | 0 | 0 | 0 | (15) |
Exchange differences on translation of capital and reserves | (1) | 2 | 69 | (30) | (50) | 9 | 0 | (1) |
Equity at end of period at Dec. 31, 2017 | 2,313 | 224 | 3,104 | (1,631) | 170 | 425 | 2,292 | 21 |
Total comprehensive income for the year | 1,526 | 0 | 0 | 0 | 207 | 1,313 | 1,520 | 6 |
Dividends paid | (804) | 0 | 0 | 0 | 0 | (796) | (796) | (8) |
Issue of ordinary shares, net of expenses | 21 | 134 | 114 | 0 | 0 | (227) | 21 | 0 |
Repurchase of ordinary shares | (743) | 0 | 0 | (743) | 0 | 0 | (743) | 0 |
Cancellation of shares | 0 | (68) | (1,795) | 1,601 | 0 | 262 | 0 | 0 |
Increase in share based remuneration reserve (net of tax) | 35 | 0 | 0 | 0 | 0 | 35 | 35 | 0 |
Settlement of share awards | 0 | 0 | 0 | 35 | 0 | (35) | 0 | 0 |
Acquisitions | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 11 |
Exchange differences on translation of capital and reserves | 0 | 0 | (8) | 4 | (3) | 7 | 0 | 0 |
Equity at end of period at Dec. 31, 2018 | £ 2,359 | £ 290 | £ 1,415 | £ (734) | £ 374 | £ 984 | £ 2,329 | £ 30 |
Basis of preparation and accoun
Basis of preparation and accounting policies | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies [Abstract] | |
Basis of preparation and accounting policies | 1 Basis of preparation and accounting policies Basis of preparation The shares of RELX PLC are traded on the London, Amsterdam and New York stock exchanges. RELX PLC and its subsidiaries, joint ventures and associates are together known as ‘RELX’. Up until the corporate simplification, consolidated accounts were prepared on the basis that all shareholders were regarded as having interests in a single economic entity, and as such the dual parent Group formed a single reporting entity for the presentation of onsolidated financial statements. The corporate simplification as described on page 72 therefore has had no impact on the basis of preparation of the consolidated financial statements. In preparing the consolidated financial statements, subsidiaries are accounted for under the acquisition method and investments in associates and joint ventures are accounted for under the equity method. All intra-group transactions and balances are eliminated. On acquisition of a subsidiary, or interest in an associate or joint venture, fair values, reflecting conditions at the date of acquisition, are attributed to the net assets, including identifiable intangible assets acquired. Adjustments are made to bring accounting policies into line with those of the Group. The results of subsidiaries sold or acquired are included in the consolidated financial statements up to or from the date that control passes from or to the Group. Non-controlling interests in the net assets of the Group are identified separately from shareholders’ equity. Non-controlling interests consist of the amount of those interests at the date of the original acquisition and the non-controlling share of changes in equity since the date of acquisition. The Directors of RELX PLC, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the consolidated financial statements for the year ended 31 December 2018. Accounting policies The Group’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and as issued by the International Accounting Standards Board (IASB). The accounting policies under IFRS are included in the relevant notes to the consolidated financial statements. The accounting policies below are applied throughout the financial statements and are unchanged from those applied in preparing the consolidated financial statements for the year ended 31 December 2017 and 2016, with the exception of policies relating to the adoption of IFRS 9 –Financial Instruments, IFRS 15- Revenue from Contracts with Customers and IFRS 16-Leases. Restatement The consolidated financial statements have been restated for the retrospective adoption of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases. Each note identifies when comparatives have been restated. Foreign exchange translation The consolidated financial statements are presented in sterling. Transactions in foreign currencies are recorded at the rate of exchange prevailing on the date of the transaction. Non-monetary assets and liabilities that are measured at historical cost in foreign currencies are translated using the exchange rate at the date of the transaction. At each statement of financial position date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rate prevailing on the statement of financial position date. Exchange differences arising are recorded in the income statement other than where hedge accounting applies, as set out on pages 150 155 Assets and liabilities of foreign operations are translated at exchange rates prevailing on the statement of financial position date. Income and expense items and cash flows of foreign operations are translated at the average exchange rate for the period. Significant individual items of income and expense and cash flows in foreign operations are translated at the rate prevailing on the date of transaction. Exchange differences arising are classified as equity and transferred to the translation reserve. When foreign operations are disposed of, the related cumulative translation differences are recognised within the income statement in the period. The Group uses derivative financial instruments, primarily forward contracts, to hedge its exposure to certain foreign exchange risks. Details of the Group’s accounting policies in respect of derivative financial instruments are set out on page 150 Critical judgements and key sources of estimation uncertainty The most significant accounting policies in determining the financial condition and results of the Group, and those requiring the most subjective or complex judgement, relate to and are included in the following notes: ∎ valuation of goodwill and intangible assets – notes 14 and 15; ∎ capitalisation of development spend – note 15; ∎ taxation – note 9; and ∎ accounting for defined benefit pension schemes – note 6. Other significant accounting policies The accounting policy in respect of revenue recognition is also significant in determining the financial condition and results of the Group, although the application of this policy is more straight forward. This policy is included in note 2. Standards and amendments effective for the year New accounting standards and amendments effective for the period and adopted by the Group in 2018 are IFRS 9 – Financial Instruments and IFRS 15 – Revenue from Contracts with Customers. IFRS 16 – Leases has also been adopted in the period, a year earlier than its mandatory effective date of 1 January 2019. The impact of the adoption of these standards on the full year 2017 results is as follows: 2016 as reported £m IFRS 9 impact £m IFRS 15 impact £m IFRS 16 impact £m 2016 as restated £m Income statement Revenue 6,895 – (6 ) – 6,889 Reported operating profit 1,708 – (6 ) 6 1,708 Net finance costs (195 ) (2 ) – (16 ) (213 ) Reported net profit attributable to RELX PLC shareholders 1,161 (2 ) (4 ) (5 ) 1,150 Reported EPS 56.3p (0.1p) (0.2p) (0.2p) 55.8p Statement of financial position Right of use assets 20 – – 306 326 Borrowings (including lease liability) (4,843 ) 17 – (430 ) (5,256 ) Finance lease receivable – – – 63 63 Deferred income (1,941 ) – (67 ) – (2,008 ) 2017 as reported £m IFRS 9 impact £m IFRS 15 impact £m IFRS 16 impact £m 2017 as restated £m Income statement Revenue 7,355 – (14 ) – 7,341 Adjusted operating profit 2,284 – (11 ) 11 2,284 Reported operating profit 1,905 – (11 ) 11 1,905 Net finance costs (182 ) (2 ) – (15 ) (199 ) Adjusted net profit attributable to RELX PLC shareholders 1,635 (2 ) (9 ) (4 ) 1,620 Reported net profit attributable to RELX PLC shareholders 1,659 (2 ) (9 ) – 1,648 Adjusted EPS 81.0p (0.1p) (0.5p) (0.2p) 80.2p Reported EPS 82.2p (0.1p) (0.5p) – 81.6p Statement of financial position Right of use asset 16 – – 271 287 Borrowings (including lease liability) (4,886 ) 14 – (381 ) (5,253 ) Finance lease receivable – – – 57 57 Deferred income (1,834 ) – (76 ) – (1,910 ) IFRS 9 – Financial Instruments IFRS 9 replaces the existing classification and measurement requirements in IAS 39 – Financial Instruments: Recognition and Measurement. RELX has applied IFRS 9 retrospectively, with the exception of hedge accounting, which has been applied prospectively. The main impact on previously reported numbers results in a reduction to borrowings of £14m as at 31 December 2017 (31 December 2016: reduction of £17m), arising from a retrospective change in the treatment under IFRS 9 of certain debt modifications undertaken in 2012 and 2013. IFRS 15 – Revenue from Contracts with Customers provides a single point of reference for revenue recognition, including guidance in relation to identification of the contract and licensing arrangements. RELX has adopted IFRS 15 on a fully retrospective basis. The main impact of IFRS 15 is a change in the timing of revenue recognition as a result of the guidance on identification and satisfaction of performance obligations under IFRS 15. The impact of IFRS 15 is greater at the half year, but the adoption is not considered overall to have a material impact on the results. The impact on the income statement for the 12 months to 31 December 2017 is a decrease of £11m to both reported and adjusted operating profit (31 December 2016: decrease of £6m to reported operating profit). IFRS 16 – Leases (early adoption and therefore effective for the 2018 financial year) eliminates the distinction between operating and finance leases and requires lessees to recognise all leases with a lease term of greater than 12 months in the statement of financial position. RELX has adopted this standard a year earlier than the mandatory effective date of 1 January 2019. IFRS 16 has been adopted on a fully retrospective basis. The change in accounting standard results in both an asset and liability being brought onto the statement of financial position for the majority of leases where RELX is a lessee. The asset is then depreciated, and interest expense recognised over the life of the lease. The standard also gives guidance on the recognition of subleases, which results in finance sublease receivables being recognised on the balance sheet. As at 31 December 2017, the restated statement of financial position includes additional right-of-use assets of £271m, finance lease receivables of £57m and additional lease liabilities of £381m (31 December 2016: right-of-use assets of £306m, finance lease recieveables of £63m and lease liabilities of £430m). The impact on the income statement for the 12 months to 31 December 2017 is an increase of £11m to both reported and adjusted operating profit (31 December 2016: £6m increase to reported), offset by a net increase to finance costs of £15m (31 December 2016: £16m). After taking into account additional gains from disposals of right-of-use assets, there is no impact on reported net profit. Opening balance sheet adjustment An opening balance sheet adjustment has been made at 1 January 2016 to reflect the impact of adoption on prior years. The adjustment reduces opening retained earnings by £36m. This mainly relates to the recognition of lease expense earlier on in the lease under IFRS 16 and the deferral of revenue into future periods under IFRS 15. Additionally, a number of amendments and interpretations have been issued which are not expected to have any significant impact on the Group’s accounting policies and reporting. Standards, amendments and interpretations not yet effective A number of amendments and interpretations have been issued which are not expected to have any significant impact on the accounting policies and reporting. |
Segment analysis
Segment analysis | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Segment analysis | 2 Segment analysis Accounting policy The Group’s reported segments are based on the internal reporting structure and financial information provided to the Boards. Adjusted operating profit is the key segmental profit measure used by the Group in assessing performance. Adjusted operating profit is reconciled to operating profit on page 131 Revenue arises from the provision of products and services under contracts with customers. In all cases, revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and is recognised when the customer obtains control of the good or service. Revenue is stated at the transaction price, which includes allowance for anticipated discounts and returns and excludes customer sales taxes and other amounts to be collected on behalf of third parties. Where the goods or services promised within a contract are distinct, they are identified as separate performance obligations and are accounted for separately. Where separate performance obligations are identified, total revenue is allocated on the basis of relative stand-alone selling prices or management’s best estimate of relative value where stand-alone selling prices do not exist. Management estimates may include a cost-plus method or comparable product approach, but must be supported by objective evidence. A residual approach may be applied where it is not possible to derive a reliable management estimate for a specific component. Revenue is recognised for the various categories as follows: ▪ ▪ ▪ RELX is a global provider of information-based analytics and decision tools for professional and business customers. Operating in four major market segments: Scientific, Technical & Medical provides information and analytics that help institutions and professionals progress science, advance healthcare and improve performance; Risk & Business Analytics provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency; Legal provides legal, regulatory and business information and analytics that helps customers increase their productivity, improve decision-making and achieve better outcomes; and Exhibitions is a leading global events business. It combines face-to-face through data and digital tools to help customers learn about markets, source products and complete transactions at over 500 events, in 30 countries, attracting more than 7m participants. ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2018 £m Restated 2017 £m Restated 2016 £m 2018 £m Restated 2017 £m Restated 2016 £m Scientific, Technical & Medical 2,538 2,473 2,318 942 914 854 Risk & Business Analytics 2,117 2,073 1,905 776 760 685 Legal 1,618 1,686 1,619 320 328 312 Exhibitions 1,219 1,109 1,047 313 287 271 Sub-total 7,492 7,341 6,889 2,351 2,289 2,122 Unallocated items - - - (5 ) (5 ) (8 ) Total 7,492 7,341 6,889 2,346 2,284 2,114 ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2018 £m Restated 2017 £m Restated 2016 £m North America 4,013 3,998 3,697 Europe 2,790 2,644 2,568 Rest of world 689 699 624 Total 7,492 7,341 6,889 Revenue by geographical origin from the United Kingdom in 2018 was £1,144m (2017: £1,085m; 2016: £1,048m). 2018 Scientific, Technical and Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,118 1,669 1,083 221 4,091 Europe 611 322 340 535 1,808 Rest of World 809 126 195 463 1,593 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by format Electronic 2,094 2,030 1,338 51 5,513 Face-to-face 7 36 10 1,168 1,221 437 51 270 – 758 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by type Subscriptions 1,877 765 1,247 – 3,889 Transactional 615 1,322 365 1,219 3,521 Advertising 46 30 6 – 82 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by geographical market from the United Kingdom in 2018 was £527m (2017: £521m; 2016: £502m). 2017 Scientific, Technical and Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,045 1,658 1,145 230 4,078 Europe 617 308 340 429 1,694 Rest of World 811 107 201 450 1,569 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by format Electronic 1,995 1,967 1,384 42 5,388 Face-to-face 10 38 7 1,067 1,122 468 68 295 - 831 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by type Subscriptions 1,776 732 1,291 1 3,800 Transactional 646 1,301 389 1,108 3,444 Advertising 51 40 6 – 97 Total revenue 2,473 2,073 1,686 1,109 7,341 2016 Scientific, Technical and Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 960 1,499 1,106 210 3,775 Europe 605 322 330 454 1,711 Rest of World 753 84 183 383 1,403 Total revenue 2,318 1,905 1,619 1,047 6,889 Revenue by format Electronic 1,834 1,758 1,321 35 4,948 Face-to-face 10 37 7 1,012 1,066 474 110 291 - 875 Total revenue 2,318 1,905 1,619 1,047 6,889 Revenue by type Subscriptions 1,628 684 1,299 1 3,612 Transactional 631 1,172 314 1,046 3,163 Advertising 59 49 6 – 114 Total revenue 2,318 1,905 1,619 1,047 6,889 Around half of RELX’s revenue comes from subscription arrangements, and revenue for these is generally recognised on a straight line basis over the time period covered by the agreement, in line with the provision of services. There are a number of multi-year contracts, mainly in Risk & Business Analytics, where revenue is recognised on the achievement of delivery milestones or other specified performance obligations. As at 31 December 2018, performance obligations which have not yet been delivered was approximately £210m. relation to this amount over the next 10 years ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and Capital expenditure Amortisation of acquired Depreciation and other intangible assets additions intangible assets amortisation 2018 £m 2017 £m 2016 £m 2018 £m 2017 £m 2016 £m 2018 £m 2017 £m 2016 £m 2018 £m Restated 2017 £m Restated 2016 £m Scientific, Technical & Medical 106 94 19 100 95 85 56 77 88 109 100 100 Risk & Business Analytics 852 - 288 92 83 67 161 141 147 76 64 56 Legal 30 6 83 145 153 154 33 52 73 147 142 135 Exhibitions 61 33 21 28 24 26 36 44 38 35 37 34 Total 1,049 133 411 365 355 332 288 314 346 364 343 325 Capital expenditure comprises additions to property, plant and equipment and internally developed intangible assets. Amortisation of acquired intangible assets includes amounts in respect of joint ventures of nil nil 3 1 1 1 ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION 2018 £m Restated 2017 £m Restated 2016 £m North America 8,692 7,408 8,307 Europe 1,996 2,016 1,987 Rest of world 461 459 489 Total 11,149 9,883 10,783 Non-current assets held in the United Kingdom totalled £988m (2017: £1,026m; 2016: £961m). Non-current assets by geographical location exclude amounts relating to deferred tax, pension assets and derivative financial instruments. Operating profit is reconciled to adjusted operating profit as follows: RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2018 £m Restated 2017 £m Restated 2016 £m Operating profit 1,964 1,905 1,708 Adjustments: Amortisation of acquired intangible assets 288 314 346 Acquisition-related costs 84 56 51 Reclassification of tax in joint ventures 11 10 10 Reclassification of finance income in joint ventures (1 ) (1 ) (1 ) Adjusted operating profit 2,346 2,284 2,114 The share of post-tax results of joint ventures of £32m (2017: £37m; 2016:£37m) included in operating profit comprised £nilm (2017: £5m; 2016: £10m) relating to Legal, £31m (2017: £32m; 2016: £27m) relating to Exhibitions and £1m (2017: nil; 2016: nil) relating to Risk & Business Analytics. |
Operating profit
Operating profit | 12 Months Ended |
Dec. 31, 2018 | |
Operating Profit [Abstract] | |
Operating profit | 3 Operating profit Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant. Non-market based performance criteria are taken into account when estimating the number of shares expected to vest. The fair value of share based remuneration is determined by use of a binomial or Monte Carlo simulation model as appropriate. All of the Group’s share based remuneration is equity settled. Operating profit is stated after charging/(crediting) the following: Note 2018 £m Restated 2017 £m Restated 2016 £m Staff costs Wages and salaries 1,959 1,926 1,767 Social security costs 215 213 198 Pensions 6 135 95 111 Share based remuneration 41 39 38 Total staff costs 2,350 2,273 2,114 Depreciation and amortisation Amortisation of acquired intangible assets 15 287 313 342 Share of joint ventures’ amortisation of acquired intangible assets 1 1 4 Amortisation of internally developed intangible assets 15 225 203 189 Depreciation of property, plant and equipment 17 62 65 62 Depreciation of right of use asset 77 75 74 Total depreciation and amortisation 652 657 671 Other expenses and income Cost of sales including pre-publication costs and inventory expenses 2,638 2,628 2,488 Operating lease rentals expense 18 28 35 Operating lease rentals income (3 ) (3 ) (6 ) The amortisation of acquired intangible assets is included within administration and other expenses. The Group provides a number of share based remuneration schemes to Directors and employees. The principal share based remuneration schemes are the Executive Share Option Schemes (ESOS), the Long-Term Incentive Plan (LTIP), the Retention Share Plan (RSP) and the Bonus Investment Plan (BIP). Share options granted under ESOS are exercisable after three years and up to ten years from the date of grant at a price equivalent to the market value of the respective shares at the date of grant. Conditional shares granted under LTIP, RSP and BIP are exercisable after three years for nil consideration if conditions are met. Other awards principally relate to all employee share based saving schemes in the UK and the Netherlands. Further details are provided in the remuneration report on pages 84 95 |
Auditor_s remuneration
Auditor’s remuneration | 12 Months Ended |
Dec. 31, 2018 | |
Auditors Remuneration [Abstract] | |
Auditor’s remuneration | 4 Auditor’s remuneration 2018 £m 2017 £m 2016 £m Auditors’ remuneration Payable to the auditors of RELX PLC 0.9 0.9 0.9 Payable to the auditors of the Group’s subsidiaries 5.9 5.9 5.3 Audit services 6.8 6.8 6.2 Audit-related assurance services 0.9 0.8 0.6 Total audit and audit related assurance services 7.7 7.6 6.8 Tax services 0 – 0.4 Other services: Consulting 0 – 0.1 Other services: Due diligence and other transaction-related services 2.7 0.3 0.4 Total non-audit related services 2.7 0.3 0.9 Total auditors’ remuneration 10.4 7.9 7.7 Amounts payable to the auditors of the Group’s subsidiaries include amounts for the audit of internal controls over financial reporting in accordance with the US Sarbanes-Oxley Act. Included in audit related assurance services for 2018 are £0.1m in fees for services relating to RELX pension plans (2017: £0.1m). The amounts payable in 2017 and 2016 to the auditors of RELX PLC also reflect amounts payable to the auditors of RELX NV. The previously reported 2017 fees paid to EY for audit services have been revised to include additional amounts for expenses incurred and final fees for statutory audits which took place subsequent to the audit of the RELX consolidated accounts. |
Personnel
Personnel | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Employees [Abstract] | |
Personnel | 5 Personnel NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2018 2017 2016 2018 2017 2016 Business segment Scientific, Technical & Medical 7,900 7,500 7,500 7,700 7,500 7,300 Risk & Business Analytics 8,700 8,100 8,200 8,600 8,200 7,900 Legal 10,500 10,600 10,700 10,600 10,700 10,600 Exhibitions 4,200 4,000 4,000 4,100 4,000 3,900 Sub-total 31,300 30,200 30,400 31,000 30,400 29,700 Corporate/shared functions 800 800 800 800 800 900 Total 32,100 31,000 31,200 31,800 31,200 30,600 Geographical location North America 13,800 13,500 13,700 13,700 13,600 13,500 United Kingdom 5,200 5,000 4,900 5,100 5,000 4,800 The Netherlands 1,200 1,300 1,400 1,300 1,400 1,500 Rest of Europe 2,800 2,800 2,800 2,800 2,800 2,800 Rest of world 9,100 8,400 8,400 8,900 8,400 8,000 Total 32,100 31,000 31,200 31,800 31,200 30,600 |
Pension schemes
Pension schemes | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Pension schemes | 6 Pension schemes Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. The expense of defined contribution pension schemes and other employee benefits is charged in the income statement as incurred. Critical judgement and key source of estimation uncertainty At 31 December 2018, the Group operates defined benefit pension schemes in the UK and the US. These schemes require management to exercise judgement in estimating the ultimate cost of providing post-employment benefits, especially given the length of each scheme’s liabilities. Accounting for defined benefit pension schemes involves judgement about uncertain events, including the life expectancy of the members, salary and pension increases, inflation, the future operation of each scheme and the rate at which the future pension payments are discounted. Estimates for these factors are used in determining the pension cost and liabilities reported in the financial statements. The estimates made around future developments of each of the critical assumptions are made in conjunction with independent actuaries, and each scheme is subject to a periodic review by independent actuaries. Information regarding some of the assumptions used for valuation is provided below, together with a sensitivity analysis. A number of pension schemes are operated around the world. The largest defined benefit schemes as at 31 December 2018 are in the UK and the US. Major defined benefit schemes in place at 31 December 2018 The UK scheme is a final salary scheme and is closed to new hires. Members accrue a portion of their final pensionable earnings based on the number of years of service. The US scheme is a cash balance scheme and is closed to new hires. Members earn pay credits dependent on age and years of service up to certain limits which are added to an account balance that accrues interest at specified minimum rates. The US scheme was closed to future accruals effective 1 January 2019. Each of the major defined benefit schemes is administered by a separate fund that is legally separated from the Group. The trustees of the pension funds in the UK and plan fiduciaries of the US scheme are required by law to act in the interest of the funds’ beneficiaries. In the UK, the trustees of the pension fund are responsible for the investment policy with regard to the assets of the fund. The board of trustees consists of an equal number of company-appointed and member-nominated Directors. In the US, the fiduciary duties for the scheme are allocated between committees which are staffed by senior employees of the Group; the investment committee has the primary responsibility for the investment and management of plan assets. The funding of the Group’s major schemes reflects the different rules within each jurisdiction. In the UK, the level of funding is determined by statutory triennial actuarial valuations in accordance with pensions legislation. Where the scheme falls below 100% funded status, the Group and the scheme trustees must agree on how the deficit is to be remedied. The UK Pensions Regulator has significant powers and sets out in codes and guidance the parameters for scheme funding. The US scheme has an annual statutory valuation which forms the basis for establishing the employer contribution each year (subject to ERISA and IRS minimums). Should the statutory funded status fall to below 100%, the US Pension Protection Act requires the deficit to be rectified with additional contributions over a seven-year period. The Group and the scheme trustees have completed the 2018 triennial valuation under which the Group has committed to providing £176m of deficit funding contributions to the scheme over the period 2019 to 2022.Employer cash contributions to defined benefit pension schemes, in respect of 2019 are expected to be approximately £62m including a pension deficit funding contribution of £44m relating to the UK scheme recovery plan. In addition to the contributions set out above, the Group has committed to providing a further £132m of deficit funding contributions to the UK scheme over the period from 2020 to 2023. The 2018 triennial valuation has been completed. The pension expense in total, including amounts in relation to the UK and US defined benefit schemes, and defined contribution schemes, recognised within the income statement consists of: 2018 £m 2017 £m 2016 £m Defined benefit pension expense (net of settlement and past service credits in 2018) 47 4 36 Defined contribution pension expense 95 91 75 Total 142 95 111 £135m (2017: £95m; 2016: £111m) of the total pension cost is recognised within operating profit. In 2018 a past service cost was recognised to account for the impact of GMP equalisation in the UK. In 2017 settlement and past service credits primarily relate to changes to the UK scheme. The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: 2018 2017 2016 UK £m US £m Total £m UK £m US £m Total £m UK £m US £m Total £m Service cost 27 9 36 33 14 47 27 14 41 Settlement and past service credits 11 – 11 (42 ) (1 ) (43 ) – (5 ) (5 ) Defined benefit pension expense 38 9 47 (9 ) 13 4 27 9 36 Net interest on net defined benefit obligation 6 3 9 10 5 15 9 5 14 Net defined benefit pension expense 44 12 56 1 18 19 36 14 50 The 2017 settlement and past service cost credits primarily relate to changes to the UK scheme. The significant valuation assumptions, determined for each major scheme in conjunction with the respective independent actuaries, are presented below. The net defined benefit pension expense for each year is based on the assumptions and scheme valuations set at 31 December of the prior year. AS AT 31 DECEMBER 2018 2017 2016 UK US UK US UK US Discount rate 2.85 % 4.20 % 2.60 % 3.55 % 2.65 % 4.00 % Inflation 3.15 % 2.50 % 3.15 % 2.50 % 3.25 % 2.50 % Discount rates are set by reference to high-quality corporate bond yields. Mortality assumptions make allowance for future improvements in longevity and have been determined by reference to applicable mortality statistics. The average life expectancy assumptions are set out below: AS AT 31 DECEMBER 2018 Male average life expectancy Female average life expectancy UK US UK US Member currently aged 60 years 85 86 88 88 Member currently aged 45 years 87 87 90 89 The amount recognised in the statement of financial position in respect of defined benefit pension schemes at the start and end of the year and the movements during the year were as follows: 2018 2017 UK £m US £m Total £m UK £m US £m Total £m Defined benefit obligation At start of year (3,854 ) (1,075 ) (4,929 ) (3,883 ) (1,120 ) (5,003 ) Service cost (27 ) (9 ) (36 ) (33 ) (14 ) (47 ) Past service credits (11 ) – (11 ) 42 1 43 Interest on pension scheme liabilities (98 ) (38 ) (136 ) (101 ) (42 ) (143 ) Actuarial gain/(loss) on financial assumptions 91 85 176 45 (61 ) (16 ) Actuarial gain/(loss) arising from experience assumptions 4 2 6 (39 ) 1 (38 ) Contributions by employees (8 ) – (8 ) (8 ) – (8 ) Benefits paid 131 56 187 123 60 183 Exchange translation differences – (61 ) (61 ) – 100 100 At end of year (3,772 ) (1,040 ) (4,812 ) (3,854 ) (1,075 ) (4,929 ) Fair value of scheme assets At start of year 3,589 1,012 4,601 3,390 977 4,367 Interest income on plan assets 92 35 127 91 37 128 Return on assets excluding amounts included in interest income (184 ) (89 ) (273 ) 181 106 287 Contributions by employer 39 7 46 42 43 85 Contributions by employees 8 – 8 8 – 8 Benefits paid (131 ) (56 ) (187 ) (123 ) (60 ) (183 ) Exchange translation differences – 57 57 – (91 ) (91 ) At end of year 3,413 966 4,379 3,589 1,012 4,601 Opening net deficit (265 ) (63 ) (328 ) (493 ) (143 ) (636 ) Service cost (27 ) (9 ) (36 ) (33 ) (14 ) (47 ) Net interest on net defined benefit obligation (6 ) (3 ) (9 ) (10 ) (5 ) (15 ) Settlement and past service credits (11 ) – (11 ) 42 1 43 Contributions by employer 39 7 46 42 43 85 Actuarial (losses)/gains (89 ) (2 ) (91 ) 187 46 233 Exchange translation differences – (4 ) (4 ) – 9 9 Overall net pension obligation (359 ) (74 ) (433 ) (265 ) (63 ) (328 ) As at 31 December 2018, the defined benefit obligations comprised £ 4,582 230 The weighted average duration of defined benefit scheme liabilities is 19 12 86 A net pension asset has been recognised in relation to the US funded scheme after considering the guidance in IAS 19 Employee Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2018 £m 2017 £m Net pension asset 6 22 Net pension obligation (439 ) (350 ) Overall net pension obligation (433 ) (328 ) Amounts recognised in the statement of comprehensive income are set out below: 2018 £m 2017 £m 2016 £m Gains and losses arising during the year: Experience gains/(losses) on scheme liabilities 6 (38 ) 25 Experience (losses)/gains on scheme assets (273 ) 287 548 Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates 242 (102 ) (873 ) – inflation - 69 (96 ) – other actuarial assumptions (66 ) 17 134 (91 ) 233 (262 ) Net cumulative losses at start of year (613 ) (846 ) (584 ) Net cumulative losses at end of year (704 ) (613 ) (846 ) The major categories and fair values of scheme assets at the end of the reporting period are as follows: FAIR VALUE OF SCHEME ASSETS 2018 2017 UK £m US £m Total £m UK £m US £m Total £m Equities 1,128 115 1,243 1,252 143 1,395 Government bonds 1,224 224 1,448 1,395 221 1,616 Corporate bonds – 607 607 – 622 622 Property funds and ground leases 723 – 723 620 – 620 Structured debt and direct lending 290 – 290 253 – 253 Cash and cash equivalents 26 4 30 46 18 64 Other 22 16 38 23 8 31 Total 3,413 966 4,379 3,589 1,012 4,601 Assets and obligations associated with the schemes are sensitive to changes in the market values of assets and the market-related assumptions used to value scheme liabilities. In particular, adverse changes to asset values, discount rates or inflation could increase future pension costs and funding requirements. Typically, the Group’s schemes are exposed to: investment risks, whereby actual rates of return on plan assets may be below those rates used to determine the defined benefit obligations, and interest rate risks, whereby scheme deficits may increase if bond yields in the UK and the US decline and are not offset by returns in government and corporate bond portfolios. The schemes are also exposed to other risks, such as unanticipated future increases in member longevity patterns and inflation, all potentially leading to an increase in scheme liabilities. Investment policies of each scheme are intended to ensure continuous payment of defined benefit pensions in the short-term and long-term. Efforts are made to limit risks on marketable securities by adopting investment policies that diversify assets across geographies and among equities, government and corporate bonds, property funds and cash. Asset allocations are dependent on a variety of factors including the duration of scheme liabilities and the funded position of the plan. All equities, government and corporate bonds have quoted prices in active markets. Sensitivity analysis The valuation of the Group’s pension scheme liabilities involves significant actuarial assumptions, being the life expectancy of the members, inflation and the rate at which the future pension payments are discounted. Differences arising from actual experience or future changes in assumptions may materially affect future pension charges. In particular, changes in assumptions for discount rates, inflation and life expectancies that are reasonably possible would have the following approximate effects on the defined benefit pension obligations: £m Increase/decrease of 0.25% in discount rate: 207 Increase/decrease of 0.25% in the expected inflation rate: 94 Increase/decrease of one year in assumed life expectancy: 177 The above analysis has been calculated on the same basis used to determine the defined benefit obligation recognised in the statement of financial position. There has been no change in the methods used to prepare the analysis compared with prior years. This sensitivity analysis may not be representative of the actual change in the defined benefit obligation as it is unlikely that changes in the above assumptions would occur in isolation of one another as some of the assumptions may be correlated. |
Net finance costs
Net finance costs | 12 Months Ended |
Dec. 31, 2018 | |
Net Finance Costs [Abstract] | |
Net finance costs | 7 Net finance costs Accounting policy Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that takes a substantial period of time to bring to use are capitalised. All other interest on borrowings is expensed as incurred. The cost of issuing borrowings is generally expensed over the period of borrowing so as to produce a constant periodic rate of charge. 2018 £m Restated 2017 £m Restated 2016 £m Interest on short-term bank loans, overdrafts and commercial paper (22 ) (10 ) (15 ) Interest on term debt (161 ) (154 ) (161 ) Interest on lease liabilities (14 ) (17 ) (18 ) Total borrowing costs (197 ) (181 ) (194 ) Losses on loans and derivatives not designated as hedges (10 ) (9 ) (15 ) Fair value losses on designated fair value hedge relationships (1 ) – – Net financing charge on defined benefit pension schemes (9 ) (15 ) (14 ) Finance costs (217 ) (205 ) (223 ) Interest on bank deposits 4 3 6 Interest income on net finance lease receivables 2 2 2 Fair value gains on designated fair value hedge relationships – 1 – Gains on loans and derivatives not designated as hedges – – 2 Finance income 6 6 10 Net finance costs (211 ) (199 ) (213 ) Losses of £ 8 63 26 3 65 27 78 18 78 18 |
Disposals and other non-operati
Disposals and other non-operating items | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |
Disposals and other non-operating items | 8 Disposals and other non-operating items Accounting policy Assets of businesses that are available for immediate sale in their current condition and for which a sales process is considered highly probable to complete are classified as assets held for sale and are carried at the lower of carrying value and fair value less costs to sell. Fair value is based on anticipated disposal proceeds, typically derived from firm or indicative offers from potential acquirers. Non-current assets are not amortised or depreciated following their classification as held for sale. Liabilities of businesses held for sale are also separately classified on the statement of financial position. Fair value movements in the venture capital portfolio are reported within disposals and other items – see note 16. 2018 £m Restated 2017 £m Restated 2016 £m Revaluation of investments (11 ) 5 (13 ) (Loss)/Gain on disposal of businesses and assets held for sale (22 ) 10 (23 ) Net (loss)/gain on disposals and other non-operating items (33 ) 15 (36 ) |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2018 | |
Major Components Of Tax Expense Income [Abstract] | |
Taxation | 9 Taxation Accounting policy Tax expense comprises current and deferred tax. Current and deferred tax are charged or credited in the income statement except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside the income statement (either in other comprehensive income, directly in equity, or through a business combination), in which case the tax appears in the same statement as the transaction that gave rise to it. Current tax is the amount of corporate income taxes expected to be payable or recoverable based on the profit for the period as adjusted for items that are not taxable or not deductible, and is calculated using tax rates and laws that were enacted or substantively enacted at the date of the statement of financial position. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Provisions are established where appropriate on the basis of amounts expected to be paid to the tax authorities. Current tax includes amounts provided in respect of uncertain tax positions when management expects that, upon examination of the uncertainty by a tax authority in possession of all relevant knowledge, it is more likely than not that an economic outflow will occur. Changes in facts and circumstances underlying these provisions are reassessed at the date of each statement of financial position, and the provisions are remeasured as required to reflect current information. Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the statement of financial position. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the end of the reporting period, and which are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled. Deferred tax liabilities are generally recognised for all taxable temporary differences but not recognised for taxable temporary differences arising on investments in subsidiaries, associates and joint ventures where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax liabilities are not recognised on temporary differences that arise from goodwill which is not deductible for tax purposes. Deferred tax assets are recognised to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilised, and are reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are not recognised in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. Critical judgement and key source of estimation uncertainty The Group is subject to tax in numerous jurisdictions, giving rise to complex tax issues that require management to exercise judgement in making tax determinations. As a multinational enterprise, our tax returns in the countries in which we operate are subject to tax authority audits as a matter of routine. While the Group is confident that tax returns are appropriately prepared and filed, amounts are provided in respect of uncertain tax positions that reflect the risk with respect to tax matters under active discussion with tax authorities, or which are otherwise considered to involve uncertainty. Provisions against uncertain tax positions are measured using one of the following methods, depending on which of the methods management expects will better predict the amount it will pay over to the tax authority: ◾ The Single Best Estimate – where there is a single outcome that is more likely than not to occur. This will happen, for example, where the tax outcome is binary (such as whether an entity can deduct an item of expenditure) or the range of possible outcomes is narrow or concentrated on a single value. The most likely outcome may be that no tax is expected to be payable, in which case the provision is nil; or ◾ A Probability-Weighted Expected Value – where, on the balance of probabilities, something will be paid to the tax authority but the possible outcomes are widely dispersed with low individual probabilities (i.e. there is no single outcome more likely than not to occur). In this case, the provision is the sum of the probability-weighted amounts in the range. In assessing provisions against uncertain tax positions, management uses in-house tax experts, professional firms and previous experience to inform the evaluation of risk. However, it remains possible that uncertainties will ultimately be resolved at amounts greater or smaller than the liabilities recorded. In particular, although we report cross-border transactions undertaken between Group subsidiaries on an arm’s-length basis in tax returns in accordance with OECD guidelines, transfer pricing relies on the exercise of judgement and it is frequently possible for there to be a range of legitimate and reasonable views. This means that it is impossible to be certain that the returns basis will be sustained on examination. Discussions with tax authorities relating to cross-border transactions and other matters are ongoing in each of our major trading jurisdictions. Although the timing and amount of final resolution of these uncertain tax positions cannot be reliably predicted, no significant impact on the profitability of the Group is expected in the near term. Estimation of income taxes also includes assessments of the recoverability of deferred tax assets. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment. 2018 £m Restated 2017 £m Restated 2016 £m Current tax United Kingdom (71 ) (104 ) (80 ) The Netherlands (72 ) (77 ) (51 ) Rest of world (154 ) (258 ) (243 ) Total current tax charge (297 ) (439 ) (374 ) Deferred tax 5 374 73 Tax expense (292 ) (65 ) (301 ) Cash tax paid in the year was £ 415 There are a number of reasons why the cash tax payments in a particular year will be different from the tax expense in the accounts: Deferred tax: Tax expense includes deferred tax, which is an accounting adjustment arising from temporary differences; Temporary differences occur when an item has to be included in the income statement in one year but is taxed in another year; and For the purposes of acquisition accounting only, the Group recognises deferred tax liabilities arising on intangible assets. Any unwind of these deferred tax liabilities from the amortisation of intangible assets does not result in cash tax payments. Timing differences: Tax payments relating to a particular year’s profits are typically due partly in the year and partly in the following year. Prior period adjustments: Current tax expense is the best estimate at the end of the period of cash tax expected to be paid; and To the extent the final liability is higher or lower than that estimate, any cash tax impact will occur in a later period. Items recorded in equity and other comprehensive income: Some of the benefits of tax deductions related to share based payments, pensions and hedging are credited to equity or other comprehensive income rather than to tax expense, and so the cash tax liability will be different to the current tax expense in the income statement in years when those deductions are available. Set out below is a reconciliation of the difference between tax expense for the period and the theoretical expense calculated by multiplying accounting profit by the applicable tax rate. We believe the most meaningful applicable rate is that obtained by multiplying the accounting profits and losses of all consolidated entities by the applicable domestic rate in each of those entities’ jurisdictions. The net tax expense charged on profit before tax differs from the theoretical amount that would arise using the weighted average of tax rates applicable to accounting profits and losses of the consolidated entities, as follows: 2018 Restated 2017 Restated 2016 £m % £m % £m % Profit before tax 1,720 1,721 1,459 Tax at average applicable rates (342 ) 19.9 % (389 ) 22.6 % (326 ) 22.4 % Tax effect of share of results of joint ventures 8 (0.5 )% 7 (0.4 )% 7 (0.5 )% Expenses not deductible for tax purposes (24 ) 1.4 % (15 ) 0.9 % (19 ) 1.3 % US state taxes (19 ) 1.1 % (18 ) 1.0 % (13 ) 0.9 % Non-deductible costs of share based remuneration (1 ) 0.1 % (1 ) 0.1 % (1 ) 0.1 % Non-deductible disposal-related gains and losses – 0.0 % (36 ) 2.1 % (8 ) 0.5 % Deferred tax assets of the period not recognised (24 ) 1.4 % (10 ) 0.6 % (2 ) 0.1 % Change in recognition of deferred tax assets or liabilities (15 ) 0.9 % 16 (0.9 )% 33 (2.3 )% Other adjustments in respect of prior periods 13 (0.8 )% 35 (2.1 )% 28 (1.9 )% Exceptional tax credit 112 (6.5 )% 346 (20.1 )% – 0.0 % Tax expense (292 ) 17.0 % (65 ) 3.8 % (301 ) 20.6 % The weighted average applicable tax rate for the year was 19.9 In the UK, a reduction in the corporate tax rate from 19% to 17% from April 2020 was enacted in September 2016. In the US, the Tax Cuts and Jobs Act which included a reduction in the federal corporate tax rate from 35% to 21% from January 2018 was enacted in December 2017. In the Netherlands, a reduction in the corporate tax rate from 25% to 22.55% from 2020 and to 20.5% from 2021 was substantively enacted in December 2018. In total, the deferred tax effect of changes in tax rates for the year was a tax credit of £8m (2017: £346m, 2016: £1m). The effective tax rate of 17% (2017:3.8%, 2016:20.6%) is lower than the weighted average applicable tax rate mainly because of an exceptional tax credit arising from the substantial resolution of certain prior year tax matters and the deferred tax effect of tax rate reductions in the Netherlands and the US. In 2017, the exceptional tax credit related to a one-off non-cash credit from a deferred tax adjustment arising from the US Tax Cuts and Jobs Act. On the basis of their size and non-recurring nature, the exceptional tax credits have been excluded from adjusted earnings. The following tax has been recognised in other comprehensive income or directly in equity during the year: 2018 £m 2017 £m 2016 £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes 15 (59 ) 45 Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges 9 (30 ) 19 Net tax (debit)/credit recognised in other comprehensive income 24 (89 ) 64 Tax credit on share based remuneration recognised directly in equity (3 ) 8 10 The measurement of the US deferred tax assets and liabilities has also resulted in a charge of £ 1 2018 £m Restated 2017 £m Deferred tax assets 455 431 Deferred tax liabilities (830 ) (738 ) Total (375 ) (307 ) Movements in deferred tax liabilities and assets (before taking into consideration the offsetting of balances within the same jurisdiction) are summarised as follows: Deferred tax liabilities Deferred tax assets Excess of tax allowances over amortisation £m Acquired intangible assets £m Other temporary differences £m Excess of amortisation over tax allowances £m Tax losses carried forward £m Pension balances £m Other temporary differences £m Total £m Deferred tax (liability)/asset at 1 January 2017 (restated) (393 ) (767 ) (338 ) 263 70 145 352 (668 ) Credit/(charge) to profit 97 298 2 (15 ) 22 – (30 ) 374 (Charge)/credit to equity/other comprehensive income – – 7 – – (76 ) (20 ) (89 ) Acquisitions – (2 ) – – – – – (2 ) Exchange translation differences 29 45 27 9 (5 ) (3 ) (24 ) 78 Deferred tax (liability)/asset at 1 January 2018 (restated) (267 ) (426 ) (302 ) 257 87 66 278 (307 ) Credit/(charge) to profit 75 13 13 (51 ) (32 ) 3 (16 ) 5 (Charge)/credit to equity/other comprehensive income – – – – – 15 (3 ) 12 Acquisitions – (88 ) – – 37 – – (51 ) Exchange translation differences (12 ) (26 ) (17 ) 1 4 2 14 (34 ) Deferred tax (liability)/asset at 31 December 2018 (204 ) (527 ) (306 ) 207 96 86 273 (375 ) Other deferred tax liabilities include temporary differences in respect of property, plant and equipment, capitalised development spend and financial instruments. Other deferred tax assets include temporary differences in respect of share based remuneration provisions and financial instruments. As a result of exemptions on dividends from subsidiaries and capital gains on disposal there are no significant taxable temporary differences associated with investments in subsidiaries, branches, associates and interests in joint arrangements. Deferred tax assets in respect of tax losses and other deductible temporary differences have only been recognised to the extent that it is more likely than not that sufficient taxable profits will be available to allow the asset to be recovered. Accordingly, no deferred tax asset has been recognised in respect of unused trading losses and interest expenses of approximately £ 213 52 93 121 Deferred tax assets of approximately £ 4 24 |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings per share | 10 Earnings per share Accounting policy Earnings per share is calculated by taking the reported net profit attributable to shareholders and dividing this by the total weighted average number of shares. Adjusted earnings per share is calculated by dividing adjusted net profit attributable to shareholders by the total weighted average number of shares. EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2018 Restated 2017 Restated 2016 Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Basic earnings per share 1,422 1,977.2 71.9p 1,648 2,019.4 81.6p 1,150 2,062.3 55.8p Diluted earnings per share 1,422 1,990.8 71.4p 1,648 2,035.2 81.0p 1,150 2,079.8 55.3p The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. Since 2016, earnings per share has been calculated by taking the total Group net profit attributable to shareholders, and dividing this by the total weighted average number of shares in issue. As the corporate simplification was done on the basis of a 1:1 share exchange, this has not impacted the calculation of earnings per share in 2018, or the comparatives presented. The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. ADJUSTED EARNINGS PER SHARE 2018 Restated 2017 Restated 2016 Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted earnings per share 1,674 1,977.2 84.7p 1,620 2,019.4 80.2p 1,473 2,062.3 71.4p RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC SHAREHOLDERS 2018 £m Restated 2017 £m Restated 2016 £m Net profit attributable to RELX PLC shareholders 1,422 1,648 1,150 Adjustments (post-tax): Amortisation of acquired intangible assets 322 356 364 Acquisition-related costs 71 43 38 Net financing charge on defined benefit pension schemes 7 11 10 Disposals and other non-operating items 19 1 2 Other deferred tax credits from intangible assets* (55 ) (93 ) (91 ) Exceptional tax credit (112 ) (346 ) - Adjusted net profit attributable to RELX PLC shareholders 1,674 1,620 1,473 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. |
Statement of cash flows
Statement of cash flows | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Statement of cash flows | 11 Statement of cash flows Accounting policy Cash and cash equivalents comprise cash balances, call deposits and other short-term highly liquid investments and are held in the statement of financial position at fair value. RECONCILIATION OF PROFIT BEFORE TAX TO CASH GENERATED FROM OPERATIONS 2018 £m Restated 2017 £m Restated 2016 £m Profit before tax 1,720 1,721 1,459 Disposals and other non-operating items 33 (15 ) 36 Net finance costs 211 199 213 Operating profit 1,964 1,905 1,708 Share of results of joint ventures (32 ) (37 ) (37 ) Amortisation of acquired intangible assets 287 313 342 Amortisation of internally developed intangible assets 225 203 189 Depreciation of property, plant and equipment 62 65 62 Depreciation of right of use asset 77 75 74 Share based remuneration 41 39 38 Total non-cash items 692 695 705 Decrease/(increase) in inventories and pre-publication costs (7 ) 2 (24 ) Decrease/(increase) in receivables (89 ) 37 (145 ) (Decrease)/increase in payables 27 (76 ) 104 Increase in working capital (69 ) (37 ) (65 ) Cash generated from operations 2,555 2,526 2,311 CASH FLOW ON ACQUISITIONS Note 2018 £m 2017 £m 2016 £m Purchase of businesses 12 (919 ) (117 ) (336 ) Investment in joint ventures - (1 ) (1 ) Deferred payments relating to prior year acquisitions (16 ) (13 ) (24 ) Total (935 ) (131 ) (361 ) RECONCILIATION OF NET BORROWINGS Cash and cash equivalents £m Borrowings £m Related derivative financial instruments £m Finance lease receivable £m 2018 £m Restated 2017 £m Restated 2016 £m At start of year 111 (5,253 ) 43 57 (5,042 ) (5,050 ) (4,095 ) (Decrease)/increase in cash and cash equivalents 1 – – – 1 (45 ) 9 Decrease/(increase) in short-term bank loans, overdrafts and commercial paper – (147 ) – – (147 ) 148 (271 ) Issuance of term debt – (958 ) – – (958 ) (873 ) (603 ) Repayment of term debt – 211 – – 211 712 474 Repayment of finance leases – 95 – (14 ) 81 78 74 Change in net borrowings resulting from cash flows 1 (799 ) – (14 ) (812 ) 20 (317 ) Borrowings in acquired businesses – (12 ) – – (12 ) - - Remeasurement and derecognition of leases – (12 ) – – (12 ) (6 ) (14 ) Inception of leases – (31 ) – 3 (28 ) (36 ) (49 ) Fair value and other adjustments to borrowings and related derivatives – (7 ) (18 ) – (25 ) (11 ) (24 ) Exchange translation differences 2 (251 ) – 3 (246 ) 41 (551 ) At end of year 114 (6,365 ) 25 49 (6,177 ) (5,042 ) (5,050 ) Net borrowings comprise cash and cash equivalents, loan capital, lease liabilities and receivables, promissory notes, bank and other loans, derivative financial instruments that are used to hedge certain borrowings and adjustments in respect of cash collateral received/paid. The Group monitors net borrowings as part of capital and liquidity management. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Business Combinations [Abstract] | |
Acquisitions | 12 Acquisitions During the year, a number of acquisitions were made. The net assets of the businesses acquired are incorporated at their fair value to the Group. Provisional fair values of the consideration given and of the assets and liabilities acquired are summarised below: Fair value 2018 £m Fair value 2017 £m Fair value 2016 £m Goodwill 626 77 222 Intangible assets 423 56 189 Property, plant and equipment 5 – 1 Current assets 24 3 12 Non current assets 12 – – Current liabilities (72 ) (16 ) (20 ) Borrowings (12 ) – – Deferred tax (51 ) (2 ) (35 ) Net assets acquired 955 118 369 Consideration (after taking account of £27m (2017: £7m; 2016: £10m) net cash acquired) 955 118 369 Less: consideration deferred to future years (36 ) (1 ) (15 ) Less: acquisition date fair value of equity interest – – (18 ) Net cash flow 919 117 336 On 21 February 2018 RELX acquired 100% of the share capital of ThreatMetrix. ThreatMetrix’s technology analyses connections among devices, locations, anonymised identity information and threat intelligence, and combines this data with behavioural analytics to identify high-risk digital behaviour and transactions in real time. The total consideration for this acquisition, net of cash acquired, was £585m, which represents the fair value of the consideration translated at the acquisition date foreign exchange rate. The main assets and liabilities recognised on acquisition were £373m relating to goodwill, £279m relating to intangible assets, £41m relating to trade and other payables and £34m of net deferred tax liability. These balances are included in the table above. Goodwill, being the excess of the consideration over the net tangible and intangible assets acquired, represents benefits which do not qualify for recognition as intangible assets, including: the ability of a business to generate higher returns than individual assets; skilled workforces; and acquisition synergies that are specific to the Group. In addition, goodwill arises on the recognition of deferred tax liabilities in respect of intangible assets for which amortisation does not qualify for tax deductions. The fair values of the assets and liabilities acquired in the last 12 months are provisional pending the completion of the valuation exercises. Final fair values will be incorporated in the 2018 consolidated financial statements. There were no significant adjustments to the provisional fair values of prior year acquisitions established in 2016. The businesses acquired in 2018 contributed £98m to revenue, increased adjusted operating profit by £ 7 34 £4m £7,531 2,347 1,420 Subsequent to the 31 December 2018, Reed Exhibitions acquired Mack Brooks. |
Equity dividends
Equity dividends | 12 Months Ended |
Dec. 31, 2018 | |
Reconciliation Of Number Of Shares Outstanding [Abstract] | |
Equity dividends | 13 Equity dividends ORDINARY DIVIDENDS PAID IN THE YEAR 2018 £m 2017 £m 2016 £m RELX PLC 420 400 356 RELX NV 376 362 327 Total 796 762 683 Ordinary dividends declared and paid in the year ended 31 December 2018, in amounts per ordinary share, comprise: a 2017 final dividend of 27.7 12.4 40.1 shareholders. Former shareholders in RELX NV received a 2017 final dividend of €0.316 (2017: €0.301; 2016: €0.288) and a 2018 interim dividend of €0.140 (2017: €0.132; 2016: €0.122). The Directors of RELX PLC have proposed a final dividend of 29.7 42.1 583 The Employee Benefit Trust has currently waived the right to receive dividends on RELX PLC shares. This waiver has been applied to dividends paid in 2018, 2017 and 2016. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Goodwill | 14 Goodwill Accounting policy On the acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets on a fair value basis, with any excess purchase consideration representing goodwill. Goodwill arising on acquisitions also includes amounts corresponding to deferred tax liabilities recognised in respect of acquired intangible assets. Goodwill is recognised as an asset and reviewed for impairment when there is an indicator that the asset may be impaired and at least annually. Any impairment is recognised immediately in the income statement and not subsequently reversed. On disposal of a subsidiary or business, the attributable amount of goodwill is included in the determination of the profit or loss on disposal. At each statement of financial position date, the carrying amounts of tangible and intangible assets and goodwill are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount, which is the higher of value in use and fair value less costs to sell, of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independent from other assets, value in use estimates are made based on the cash flows of the cash generating unit to which the asset belongs. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is any indication that the asset may be impaired. If the recoverable amount of an asset or cash generating unit is estimated to be less than its net carrying amount, the net carrying amount of the asset or cash generating unit is reduced to its recoverable amount. Impairment losses are recognised immediately in the income statement in administration and other expenses. Critical judgement and key source of estimation uncertainty The carrying amounts of goodwill and indefinite lived intangible assets in each business are reviewed for impairment at least annually. The carrying amounts of all other intangible assets are reviewed where there are indications of possible impairment. An impairment review involves a comparison of the carrying value of the asset with estimated values in use based on the latest management cash flow projections, approved by the Boards. Key areas of judgement in estimating the values in use of businesses are the growth in cash flows over a forecast period of up to five years, the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. A description of the key assumptions and sensitivities is provided below. 2018 £m 2017 £m At start of year 5,965 6,392 Acquisitions 626 77 Disposals/reclassified as held for sale (25 ) (72 ) Transfers - 11 Exchange translation differences 333 (443 ) At end of year 6,899 5,965 Transfers relate to movements in goodwill as a result of the finalisation of the accounting for prior year acquisitions. The carrying amount of goodwill is after cumulative amortisation of £ 1,222 9 Impairment review Impairment testing of goodwill and indefinite lived intangible assets is performed at least annually in accordance with the methodology described above. There were no charges for impairment of goodwill in 2018 (2017: nil). Goodwill is compiled and assessed among groups of cash generating units, which represent the lowest level at which goodwill is monitored by management. Typically, acquisitions are integrated into existing business units, and the goodwill arising is allocated to the groups of cash generating units (CGUs) that are expected to benefit from the synergies of the acquisition. As the business areas have become increasingly integrated and globalised, the current CGU allocation reflects the global leverage of assets, skills, knowledge and technology platforms, and the monitoring of goodwill by management. GOODWILL 2018 £m 2017 £m Scientific, Technical & Medical 1,620 1,479 Risk & Business Analytics 3,283 2,595 Legal 1,465 1,390 Exhibitions 531 501 Total 6,899 5,965 The key assumptions used for each group of cash generating units are disclosed below: KEY ASSUMPTIONS 2018 2017 Pre-tax discount rate Nominal long-term market growth rate Pre-tax discount rate Nominal long-term market growth rate Scientific, Technical & Medical 10.0 % 3 % 10.1 % 3 % Risk & Business Analytics 11.5 % 3 % 12.3 % 3 % Legal 12.2 % 2 % 12.7 % 2 % Exhibitions 12.7 % 3 % 12.6 % 3 % The pre-tax discount rates used are based on the Group’s weighted average cost of capital, adjusted to reflect a risk premium specific to each business. Nominal long-term market growth rates, which are applied after the forecast period of up to five years, do not exceed the long-term average growth prospects for the sectors and territories in which the businesses operate. A sensitivity analysis has been performed based on changes in key assumptions considered to be reasonably possible by management: an increase in the discount rate of 0.5%, a decrease in the compound annual growth rate for cash flow in the five-year forecast period of 2.0%, and a decrease in the nominal long-term market growth rates of 0.5%. The sensitivity analysis shows that no impairment charges would result from these scenarios. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |
Intangible assets | 15 Intangible assets Accounting policy Intangible assets acquired as part of a business combination are stated in the statement of financial position at their fair value as at the date of acquisition, less accumulated amortisation. Internally generated intangible assets are stated in the statement of financial position at the directly attributable cost of creation of the asset, less accumulated amortisation. Intangible assets acquired as part of business combinations comprise: market-related assets (e.g. trademarks, imprints, brands); customer-related assets (e.g. subscription bases, customer lists, customer relationships); editorial content; software and systems (e.g. application infrastructure, product delivery platforms, in-process research and development); contract-based assets (e.g. publishing rights, exhibition rights, supply contracts); and other intangible assets. Internally generated intangible assets typically comprise software and systems development where an identifiable asset is created that is probable to generate future economic benefits. Intangible assets, other than journal titles determined to have indefinite lives, are amortised on a straight-line basis over their estimated useful lives. The estimated useful lives of intangible assets with finite lives are as follows: market and customer-related assets – 3 to 40 years; content, software and other acquired intangible assets – 3 to 20 years; and internally developed intangible assets – 3 to 10 years. Journal titles determined to have indefinite lives are not amortised and are subject to impairment review at least annually, including a review of events and circumstances to ensure that they continue to support an indefinite useful life. Critical judgements and key sources of estimation uncertainty On acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets other than goodwill on a fair value basis, with any excess purchase consideration representing goodwill. The valuation of acquired intangible assets represents the estimated economic value in use, using standard valuation methodologies, including as appropriate, discounted cash flow, relief from royalty and comparable market transactions. Acquired intangible assets are capitalised and amortised systematically over their estimated useful lives, subject to impairment review. The assumptions used are subject to management judgement. Appropriate amortisation periods are selected based on assessments of the longevity of the brands and imprints, the strength and stability of customer relationships, the market positions of the acquired assets and the technological and competitive risks that they face. Certain intangible assets in relation to acquired science and medical publishing businesses have been determined to have indefinite lives. The longevity of these assets is evidenced by their long-established and well-regarded journal titles, and their characteristically stable market positions. The assumptions used are subject to management judgement. Development spend encompasses investment in new products and other initiatives, ranging from the building of online delivery platforms, to launch costs of new services, to building new infrastructure and applications. Launch costs and other ongoing operating expenses of new products and services are expensed as incurred. The costs of building product applications, platforms and infrastructure are capitalised as intangible assets, where the investment they represent has demonstrable value and the technical and commercial feasibility is assured. Costs eligible for capitalisation must be incremental, clearly identified and directly attributable to a particular project. The resulting assets are amortised over their estimated useful lives. Impairment reviews are carried out at least annually where indicators of impairment are identified. Judgement is required in the assessment of the potential value of a development project, the identification of costs eligible for capitalisation and the selection of appropriate asset lives. Market and customer- related £m Content, software and other £m Total acquired intangible assets £m Internally developed intangible assets £m Total £m Cost At 1 January 2017 3,872 3,679 7,551 2,550 10,101 Acquisitions 32 24 56 – 56 Additions – – – 304 304 Disposals/reclassified as held for sale (26 ) (76 ) (102 ) (42 ) (144 ) Transfers (50 ) 27 (23 ) – (23 ) Exchange translation differences (309 ) (162 ) (471 ) (121 ) (592 ) At 1 January 2018 3,519 3,492 7,011 2,691 9,702 Acquisitions 310 113 423 — 423 Additions – – – 304 304 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (148 ) (174 ) Exchange translation differences 211 130 341 99 440 At 31 December 2018 4,025 3,724 7,749 2,946 10,695 Accumulated amortisation At 1 January 2017 1,893 3,139 5,032 1,465 6,497 Charge for the year 188 125 313 203 516 Disposals/reclassified as held for sale (16 ) (72 ) (88 ) (43 ) (131 ) Exchange translation differences (158 ) (146 ) (304 ) (70 ) (374 ) At 1 January 2018 1,907 3,046 4,953 1,555 6,508 Charge for the year 169 118 287 225 512 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (111 ) (137 ) Exchange translation differences 105 113 218 60 278 At 31 December 2018 2,166 3,266 5,432 1,729 7,161 Net book amount At 31 December 2017 1,612 446 2,058 1,136 3,194 At 31 December 2018 1,859 458 2,317 1,217 3,534 Transfers relate to movements in intangible assets as a result of the finalisation of the accounting for prior year acquisitions. Included in content, software and other acquired intangible assets are assets with a net book value of £ 80 Included in market and customer-related intangible assets are £ 119 |
Investments
Investments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Investments [Abstract] | |
Investments | 16 Investments Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Changes in the fair value of investments held as part of the venture capital portfolio are reported in disposals and other non-operating items in the income statement. All items recognised in the income statement relating to investments, other than investments in joint arrangements and associates, are reported as disposals and other non-operating items. Venture capital investments and equity investments represent interests in unlisted securities. The fair value of unlisted securities is based on management’s estimate of fair value based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. Advice from valuation experts is used as appropriate. All joint arrangements are classified as joint ventures because the Group shares joint control and has rights to the net assets of the arrangements. Investments in joint ventures and associates are accounted for under the equity method and stated in the statement of financial position at cost as adjusted for post-acquisition changes in the Group’s share of net assets, less any impairment in value. . 2018 £m 2017 £m Investments in joint ventures 104 102 Available for sale investments - 2 Venture capital investments 151 139 Total 255 243 The value of venture capital investments and available for sale investments has been determined by reference to other observable market inputs or, when these are not available, by reference to inputs we believe would reflect the assumptions market participants would use. Gains and losses included in the consolidated income statement are provided in note 8. An analysis of changes in the carrying value of investments in joint ventures is set out below: 2018 £m 2017 £m At start of year 102 102 Share of results of joint ventures 32 37 Dividends received from joint ventures (30 ) (38 ) Additions 2 2 Exchange translation differences (2 ) (1 ) At end of year 104 102 Summarised aggregate information in respect of the Group’s share of joint ventures is set out below: RELX’s share 2018 £m 2017 £m Revenue 101 101 Net profit for the year 32 37 Total assets 96 85 Total liabilities (49 ) (42 ) Net assets 47 43 Goodwill 57 59 Total 104 102 The Group’s consolidated other comprehensive income includes no income or losses relating to joint ventures in either period. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property, plant and equipment | 17 Property, plant and equipment Accounting policy Property, plant and equipment are stated in the statement of financial position at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds are depreciated over their estimated useful lives up to a maximum of 50 years. Short leases are written off over the duration of the lease. Depreciation is provided on other assets on a straight-line basis over their estimated useful lives as follows: – land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years; – fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years. 2018 2017 Land and buildings £m Fixtures and equipment £m Total £m Land and buildings £m Fixtures and equipment £m Total £m Cost At start of year 217 599 816 231 630 861 Acquisitions – 5 5 - - - Capital expenditure 5 51 56 5 46 51 Disposals/reclassified as held for sale (8 ) (40 ) (48 ) (3 ) (40 ) (43 ) Exchange translation differences 9 25 34 (16 ) (37 ) (53 ) At end of year 223 640 863 217 599 816 Accumulated depreciation At start of year 137 485 622 139 499 638 Charge for the year 9 53 62 9 56 65 Disposals/reclassified as held for sale (6 ) (40 ) (46 ) (1 ) (39 ) (40 ) Exchange translation differences 6 21 27 (10 ) (31 ) (41 ) At end of year 146 519 665 137 485 622 Net book amount 77 121 198 80 114 194 No depreciation is provided on freehold land of £ 14 14 Amounts relating to right of use assets under IFRS 16 can be found in note 23 |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial instruments | 18 Financial instruments Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, cash and cash equivalents, payables and accruals, borrowings and derivative financial instruments. Investments (other than investments in joint ventures and associates) are described in note 16. The fair value of such investments is based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. (These investments are typically classified as either Level 2 or 3 in the IFRS 13 fair value hierarchy). Trade receivables are carried in the statement of financial position at invoiced value less allowance for estimated irrecoverable amounts. Irrecoverable amounts are estimated based on the ageing of trade receivables, experience and circumstance. Borrowings and payables are recorded initially at fair value and subsequently carried at amortised cost (other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk). Derivative financial instruments are used to hedge interest rate and foreign exchange risks. Where an effective hedge is in place against changes in the fair value of fixed rate borrowings, the hedged borrowings are adjusted for changes in fair value attributable to the risk being hedged with a corresponding income or expense included in the income statement within finance costs. The offsetting gains or losses from remeasuring the fair value of the related derivatives are also recognised in the income statement with in finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. With effect from 1January 2018, the fair value amounts relating to foreign currency basis spreads are recorded in a separate component of equity in the cost of hedging reserve. If a hedged firm commitment or forecasted transaction results in the recognition of a non-financial asset or liability, then, at the time that the asset or liability is recognised, the associated gains or losses on the derivative that had previously been recognised in other comprehensive income are included in the initial measurement of the asset or liability. For hedges that do not result in the recognition of an asset or a liability, amounts deferred in the hedge reserve are recognised in the income statement in the same period in which the hedged item affects net profit or loss. Any ineffective portion of hedges is recognised immediately in the income statement. Cash flow hedge accounting is discontinued when a hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in other comprehensive income is either retained in the hedge reserve until the firm commitment or forecasted transaction occurs, or, where a hedged transaction is no longer expected to occur, is immediately credited or expensed in the income statement. Derivative financial instruments that are not designated as hedging instruments are recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of derivative financial instruments represent the replacement costs calculated using observable market rates of interest and exchange. The fair value of long-term borrowings is calculated by discounting expected future cash flows at observable market rates. (These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy.) The main financial risks faced by the Group are liquidity risk, market risk - comprising interest rate risk and foreign exchange risk and credit risk. Financial instruments are used to finance the Group's businesses and to manage interest rate and foreign exchange risks. The Group's businesses do not enter into speculative derivative transactions. Details of financial instruments subject to liquidity, market and credit risks are described below. Liquidity risk The Group maintains a range of borrowing facilities and debt programmes to fund its requirements at competitive rates. The balance of long-term debt, short-term debt and committed bank facilities is managed to provide security of funding, taking into account the cash generation cycle of the business and the uncertain size and timing of acquisition spend. To accommodate the significant free cash flow generated by the Group and to capitalize on an inexpensive source of funding, a meaningful portion of the overall debt portfolio is typically kept short-term as long as there exists acceptable liquidity in the commercial paper markets and sufficient capacity under committed credit lines. The Group's treasury policies ensure adequate liquidity by requiring that (a) no more than $1.5bn of term debt matures in any 12-month period, (b) the sum of term debt maturing over the ensuing 12 months plus short-term borrowings is less than the sum of available cash plus committed facilities and (c) minimum levels of borrowing with maturities over three and five years are maintained. The treasury policies ensure debt efficiency by (a) targeting certain levels of short-term borrowings across a given year, (b) maintaining a weighted average maturity of the gross debt portfolio of approximately five years and (c) minimizing surplus cash balances. From time to time, based on cash flow and market conditions, the Group may redeem term debt early or repurchase outstanding debt in the open market. Debt is issued to meet the funding requirements of various jurisdictions and in the currencies that are needed. It is recognized that debt can act as a natural translation hedge of earnings, net assets and net cash flow in currencies other than the reporting currency. For this reason, the majority of the Group's net debt is denominated in US dollars and euros, reflecting the Group's largest geographical markets. There were no changes to the Group’s long-term approach to capital and liquidity management during the year. The remaining contractual maturities for borrowings and derivative financial instruments are shown in the table below. The table shows undiscounted principal and interest cash flows and includes contractual gross cash flows to be exchanged as part of cross-currency interest rate swaps and forward foreign exchange contracts where there is a legal right of set-off. AT 31 DECEMBER 2018 Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (5,315 ) (752 ) (610 ) (552 ) (879 ) (732 ) (2,555 ) (6,080 ) Floating rate borrowings (690 ) (686 ) – – – – (4 ) (690 ) Lease liabilities (360 ) (104 ) (92 ) (75 ) (47 ) (30 ) (63 ) (411 ) Derivative financial liabilities Interest rate derivatives (15 ) (2 ) (2 ) (2 ) (2 ) (3 ) (8 ) (19 ) Cross-currency interest rate swaps (1 ) (48 ) (21 ) (21 ) (21 ) (39 ) (557 ) (707 ) Forward foreign exchange contracts (53 ) (1,498 ) (375 ) (181 ) (25 ) – – (2,079 ) Derivative financial assets Interest rate derivatives 21 12 13 3 1 5 3 37 Cross-currency interest rate swaps 13 33 8 8 8 25 553 635 Forward foreign exchange contracts 13 1,473 361 173 26 – – 2,033 Total (6,387 ) (1,572 ) (718 ) (647 ) (939 ) (774 ) (2,631 ) (7,281 ) AT 31 DECEMBER 2017 RESTATED Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (4,393 ) (331 ) (703 ) (575 ) (518 ) (805 ) (2,198 ) (5,130 ) Floating rate borrowings (469 ) (464 ) – – – – (5 ) (469 ) Lease liabilities (391 ) (100 ) (91 ) (79 ) (64 ) (34 ) (82 ) (450 ) Derivative financial liabilities (13 ) (1 ) (1 ) (2 ) (2 ) (4 ) (8 ) (18 ) Interest rate derivatives (2 ) (258 ) (17 ) (18 ) (18 ) (18 ) (541 ) (870 ) Cross-currency interest rate swaps (42 ) (2,148 ) (418 ) (188 ) (41 ) – – (2,795 ) Forward foreign exchange contracts Derivative financial assets Interest rate derivatives 20 13 11 10 1 – – 35 Cross-currency interest rate swaps 42 246 7 7 7 7 554 828 Forward foreign exchange contracts 53 2,139 422 193 42 – – 2,796 Total (5,195 ) (904 ) (790 ) (652 ) (593 ) (854 ) (2,280 ) (6,073 ) The carrying amount of derivative financial liabilities comprises £15m (2017: £15m) in relation to fair value hedges, £41m (2017: £30m) in relation to cash flow hedges and £13m (2017: £12m) not designated as hedging instruments. The carrying amount of derivative financial assets comprises £33m (2017: £20m) in relation to fair value hedges, £7m (2017: £81m) in relation to cash flow hedges and £7m (2017: £14m) At 31 December 2018, the Group had access to a $3,000m committed bank facility, consisting of a $1,750m tranche maturing in July 2023 and a $1,250m tranche maturing in July 2021, which was undrawn. This facility backs up short-term borrowings. All borrowings that mature with in the next two years can be covered by the facility and by utilizing available cash resources. The committed bank facility is subject to a financial covenant typical to the Group’s size and financial strength. The Group had significant headroom within this covenant for the year ended 31 December 2018. There are no financial covenants in any outstanding public bonds. Market risk The Group’s primary market risks are interest rate fluctuations and exchange rate movements. Derivatives are used to manage the risks associated with interest rate and exchange rate movements and the Group does not enter into speculative derivatives. Where the impact of derivatives on the income statement and the statement of financial position could be significant, hedge accounting is applied (subject to satisfying the required criteria) as described in 'Hedge accounting' below. Interest rate exposure management The Group’s interest rate exposure management policy aims to minimise interest costs with an acceptable level of year on year volatility. To achieve this, the Group uses fixed rate term debt and interest rate swaps to give a target mix of fixed rate and floating rate borrowings interest rate derivatives are used only to hedge an underlying risk and no net market positions are held. At 31 December 2018, 45% of gross bank and bond borrowings were at fixed rate. A 100 basis point reduction in interest rates would result in an estimated decrease in net finance costs of £32m (2017: £26m), based on the composition of financial instruments including cash, cash equivalents, bank loans and commercial paper borrowings at 31 December 2018. A 100 basis point rise in interest rates would result in an estimated increase in net finance costs of £32m (2017: £26m). The impact on net equity of at theoretical change in interest rates as at 31 December 2018 is restricted to the change in carrying value of floating rate to fixed rate interest rate derivatives in a designated cash flow hedge relationship and undesignated interest rate derivatives. A 1 00 00 Foreign currency exposure management Translation exposures arise on the earnings and net assets of individual businesses whose operational currencies are other than sterling. Some of these exposures are offset by denominating borrowings in US dollars, euros and other currencies. Currency exposures on transactions denominated in a foreign currency are generally hedged using forward contracts. In addition, recurring transactions and future investment exposures may be hedged, in advance of becoming contractual. The precise policy differs according to the specific circumstances of the individual businesses. Highly predictable future cash flows may be covered for transactions expected to occur during the next 24 months (50 months for the Scientific, Technical & Medical subscription businesses) within limits defined according to the period before the transaction is expected to become contractual. Cover takes the form of foreign exchange forward contracts. Further information is provided in' Cash flow hedges' below. A theoretical weakening of all currencies by 10% against sterling at 31 December 2018 would decrease the carrying value of net assets, excluding net borrowings, by £782m (2017: £650m). This would be offset to a degree by a decrease in net borrowings of £625m (2017: £473m). A strengthening of all currencies by 10% against sterling at 31 December2018 would increase the carrying value of net assets, excluding net borrowings, by £782m (2017:£650m) and increase net borrowings by £625m (2017: £473m). A retranslation of the Group's net profit for the year, assuming a 10% weakening of all foreign currencies against sterling but excluding transactional exposures, would reduce net profit by £127m (2017: £147m). A 10% strengthening of all foreign currencies against sterling on this basis would increase net profit for the year by £127m (2017: £147m). Credit risk The Group seeks to manage interest rate risk and limit foreign exchange risks described above by the use of financial instruments and as a result has a credit risk from the potential non-performance by the counterparties to these financial instruments, which are unsecured. The amount of this credit risk is normally restricted to the amounts of any hedge gain and not the principal amount being hedged. The Group also has a credit exposure to counterparties for the full principal amount of cash and cash equivalents. Credit risks are controlled by monitoring the credit quality of these counterparties, principally licensed commercial banks and investment banks with strong long-term credit ratings, and the amounts outstanding with each of them. The Group has treasury policies in place which do not allow concentrations of risk with individual counter parties and do not allow significant treasury exposures with counter parties which are rated lower than A-/A3 by Standard & Poor's, Moody's and Fitch. At 31 December 2018, cash and cash equivalents totalled £114m (2017: £111m), of which 93% (2017:90%) was held with banks rated A-/A3 or better. The Group also has credit risk with respect to trade receivables due from its customers, which include national and state governments, academic institutions and large and small enterprises including law firms, book stores and wholesalers. The concentration of credit risk from trade receivables is limited due to the large and broad customer base. Trade receivable exposures are managed locally in the business units where they arise. Where appropriate, business units seek to minimize this exposure by taking payment in advance and through management of credit terms. Allowance is made for bad and doubtful debts based on management’s assessment of the risk taking into account the ageing profile, experience and circumstance. The maximum exposure to credit risk is represented by the carrying amount of each financial asset, including derivative financial instruments, recorded in the statement of financial position. Included within trade receivables are the following amounts which are past due but for which no allowance has been made: past due up to one month £181m (2017: £220m); past due two to three months £93m (2017: £97m); past due four to six months £37m (2017: £44m); and past due greater than six months £35m (2017: £40m). Hedge accounting The hedging relationships that are designated under IFRS 9- Financial Instruments with effect from 1 January 2018, and/or that were previously designated under IAS 39- Financial Instruments are described below. Fair value hedges The Group has entered into interest rate swaps and cross-currency interest rate swaps to hedge the exposure to changes in the fair value of fixed rate borrowings due to interest rate and foreign currency movements which could affect the income statement. The table below details the designated fair value hedge relationships that were in place at 31 December 2018, swapping fixed rate term debt issues denominated in US dollars (USD) and euros to floating rate USD and euro debt respectively for the whole or part of their term, together with the related fixed and floating rates. FAIR VALUE HEDGE RELATIONSHIPS 31 December 2018 Principal amount £m 31 December 2017 Principal amount £m Fixed Rate Floating Rate €550m loan notes and €550m interest rate swaps maturing 2020 (494 ) (489 ) 2.5 % LIBOR+1.1% €500m bond and €500m interest rate swaps maturing 2021 (449 ) (444 ) 0.4 % LIBOR+0.3% $700m bond and $700m interest rate swaps maturing 2023 (549 ) 0 3.5 % LIBOR+0.8% €500m bond and €500m interest rate swaps maturing 2024 (449 ) (444 ) 1.0 % LIBOR+0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (525 ) (495 ) 1.3 % LIBOR+1.3% $200m bond and $200m interest rate swaps maturing 2027 (157 ) (148 ) 7.2 % LIBOR+5.8% (2,623 ) (2,020 ) The gains and losses on the borrowings and related derivatives designated as fair value hedges, which are included in the income statement as part of finance costs, together with the total carrying values of the borrowings and related derivatives included in the statement of financial position, for the three years ended 31 December 2018, 2017 and 2016 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2018 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2018 £m Carrying values £m USD debt 12 – 1 13 (701 ) Related interest rate swaps (12 ) (1 ) (1 ) (14 ) (14 ) – (1 ) – (1 ) (715 ) EUR debt (17 ) (21 ) (1 ) (39 ) (1,952 ) Related interest rate swaps 17 21 1 39 39 – – – – (1,913 ) Total relating to USD and EUR debt (5 ) (21 ) – (26 ) (2,653 ) Total related interest rate swaps 5 20 – 25 25 Net loss on borrowings and related derivatives/ total carrying value – (1 ) – (1 ) (2,628 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2017 £m Fair value movement gain/(loss) £m De-designated £m Exchange gain/(loss) £m 31 December 2017 £m Carrying values £m USD debt 16 (1 ) (2 ) (1 ) 12 (147 ) Related interest rate swaps (16 ) 1 2 1 (12 ) (12 ) – – – – – (159 ) EUR debt (33 ) 17 – (1 ) (17 ) (1,922 ) Related interest rate swaps 32 (16 ) – 1 17 17 (1 ) 1 – – – (1,905 ) Total relating to USD and EUR debt (17 ) 16 (2 ) (2 ) (5 ) (2,069 ) Total related interest rate swaps 16 (15 ) 2 2 5 5 Net (loss)/gain on borrowings and related derivatives/total carrying value (1 ) 1 – – – (2,064 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2016 £m Fair value movement gain/(loss) £m De-designated £m Exchange gain/(loss) £m 31 December. 2016 £m Carrying values £m USD debt 2 13 – 1 16 (378 ) Related interest rate swaps (2 ) (13 ) – (1 ) (16 ) (16 ) – – – – – (403 ) GBP debt (14 ) – 14 – – – Related interest rate swaps 14 – (14 ) – – – – – – – – – EUR debt (9 ) (21 ) – (3 ) (33 ) (1,011 ) Related interest rate swaps 8 21 – 3 32 32 (1 ) – – – (1 ) (979 ) Total relating to USD, GBP and EUR debt (21 ) (8 ) 14 (2 ) (17 ) (1,398 ) Total related interest rate swaps 20 8 (14 ) 2 16 16 Net loss on borrowings and related derivatives/total carrying value (1 ) – – – (1 ) (1,382 ) All fair value hedges were highly effective throughout the three years ended 31 December 2018. Gross borrowings as at 31 December 2018 included £23m (2017: £24m) in relation to fair value adjustments to borrowings previously designated in a fair value hedge relationship which were de-designated in 2008. The related derivatives were closed out on de-designation with a cash inflow of £62m. £3m (2017: £3m) of these fair value adjustments were amortised in the year as a reduction to finance costs. Cash flow hedges As part of the Group's interest rate exposure management, it has entered into certain cross-currency interest rate derivatives, individual components of which have been accounted for as cash flow hedges (with the remaining components accounted for as fair value hedges, as described above). These comprised the following: 1 Interest rate derivatives which swapped a fixed rate CHF 275m bond, issued in June 2013 and maturing in December 2018, to floating rate USD debt for the whole of its term. The component relating to the swap of fixed rate CHF coupons to fixed rate USD cash flows was accounted for as a cash flow hedge under lAS 39 and was de-designated on 31 December 2017.The gains which had accumulated in the cash flow hedge reserve up to the date of de-designation were reclassified to the income statement as part of finance costs during 2018. 2 Interest rate derivatives which swapped a fixed rate €600m bond, issued in May 2015 and maturing in May 2025, to floating rate USD debt for the whole of its term. The component relating to the swap of floating rate euro cash flows to floating rate USD cash flows (including credit margin) was accounted for as a cash flow hedge under lAS 39 up to 31 December 2017. From 1 January 2018 the component relating to the swap of the euro credit margin to USD is being accounted for a cash flow hedge under IFRS 9, with the amount associated with foreign currency basis spreads recorded in the cost of hedging reserve. As part of the Group's foreign currency exposure management, it has entered into forward foreign exchange contracts which fix the exchange rate on a portion of future foreign currency subscription revenues forecast by the businesses for up to 50 months. These have been accounted for as cash flow hedges under lAS 39 and under IFRS 9 of the forecast foreign currency revenues, with gains and Losses on the forward contracts deferred in the hedge reserve until the related revenue is recognized, at which time the accumulated gains and losses are reclassified to the income statement. Movements in the hedge reserve in 2017 and 2018 and, with effect from 1 January 2018, the cost of hedging reserve, including gains and losses on cash flow hedging instruments, were as follows: Interest rate hedge reserve £m Cost of hedging reserve £m Foreign currency hedge reserve £m Total £m Hedge reserve at 1January 2017: gains/(Losses) deferred 8 – (169 ) (161 ) Gains arising in 2017 63 – 74 137 Amounts recognised in income statement (65 ) – 90 25 Exchange translation differences (1 ) – (2 ) (3 ) Hedge reserve at 31 December 2017: gains/( losses) deferred 5 – (7 ) (2 ) Reclassification on 1 January 2018 (1 ) 1 – – Losses arising in 2018 – (8 ) (51 ) (59 ) Amounts recognised in income statement (3 ) – 20 17 Exchange translation differences – – – – Hedge reserve at 31 December 2018: gains/( losses) deferred 1 (7 ) (38 ) (44 ) All cash flow hedges were highly effective throughout the two years ended 31 December 2018. A Of the amounts recognised in the income statement in the year, losses of £20m (2017: £90m) were recognised in revenue, and gains of £3m (2017: £65m) were recognised in finance costs. A tax credit of £3m (2017: £1m) was recognised in relation to these items. The deferred gains and losses on foreign currency cash flow hedges at 31 December 2018 are currently expected to be recognised in the income statement in future years as shown in the table below, together with the principal amount of hedges relating to each year and their total carrying values included within derivative assets and liabilities in the statement of financial position: Foreign currency hedge reserve £m Principal amount of hedges £m Carrying values £m 2019 (14 ) 481 (20 ) 2020 (13 ) 486 (13 ) 2021 (10 ) 228 (10 ) 2022 (1 ) 64 (1 ) Total (38 ) 1,259 (44 ) The cash flows for these hedges are expected to occur in line with the recognition of the gains and losses in the income statement, or in the preceding year. These cash flows are included in the table on page 151. |
Inventories and pre-publication
Inventories and pre-publication costs | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Information About Inventories Explanatory [Abstract] | |
Inventories and pre-publication costs | 19 Inventories and pre-publication costs Accounting policy Inventories and pre-publication costs are stated at the lower of cost, including appropriate attributable overhead, and estimated net realisable value. Such costs typically comprise direct internal labour costs and externally commissioned editorial and other fees. Pre-publication costs, representing costs incurred in the origination of content prior to publication, are expensed systematically reflecting the expected sales profile over the estimated economic lives of the related products, generally up to five years. Annual reviews are carried out to assess the recoverability of carrying amounts. 2018 £m 2017 £m Raw materials 2 2 Pre-publication costs 171 157 Finished goods 39 38 Total 212 197 |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2018 | |
Trade And Other Receivables [Abstract] | |
Trade and other receivables | 20 Trade and other receivables 2018 £m 2017 Restated £m Trade receivables 1,829 1,682 Loss allowance (87 ) (79 ) 1,742 1,603 Prepayments and accrued income 224 219 Net finance lease receivable 49 57 Total 2,015 1,873 Trade receivables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. Trade receivables are stated net of a loss allowance for expected credit losses. The movements in the loss allowance during the year were as follows: 2018 £m 2017 £m At start of year 79 56 Charge for the year 14 39 Trade receivables written off (8 ) (15 ) Exchange translation differences 2 (1 ) At end of year 87 79 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2018 | |
Trade And Other Payables [Abstract] | |
Trade and other payables | 21 Trade and other payables Accounting policy Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered. 2018 £m Restated 2017 £m Trade payables 187 240 Accruals 711 663 Social security and other taxes 127 114 Other payables 407 371 Deferred income 2,000 1,910 Total 3,432 3,298 Trade and other payables are predominantly non-interest bearing and their carrying amounts approximate to their fair value. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2018 | |
Borrowings By Type [Abstract] | |
Borrowings | 22 Borrowings Accounting policy Borrowings are recorded initially at fair value and subsequently carried at amortised cost, other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk. When the related derivative in such a hedging relationship expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. 2018 Restated 2017 Falling due within 1 year £m Falling due in more than 1 year £m Total £m Falling due within 1 year £m Falling due in more than 1 year £m Total £m Financial liabilities measured at amortised cost: Short-term bank loans, overdrafts and commercial paper 686 – 686 464 - 464 Term debt 614 1,808 2,422 209 1,682 1,891 Lease liabilities 92 268 360 89 302 391 Term debt in fair value hedging relationships – 2,652 2,652 - 2,069 2,069 Term debt previously in fair value hedging relationships – 245 245 - 438 438 Total 1,392 4,973 6,365 762 4,491 5,253 The total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) is £3,254m (2017: £2,522m). The total fair value of term debt in fair value hedging relationships is £2,742m (2017: £2,148m). The total fair value of term debt previously in fair value hedging relationships is £283m (2017: £501m). RELX PLC has given guarantees in respect of certain long-term and short-term borrowings issued by subsidiaries. Included within term debt above are debt securities issued by RELX Capital Inc., a 100% indirectly-owned finance subsidiary of RELX PLC, which have been registered with the US Securities and Exchange Commission. RELX PLC has fully and unconditionally guaranteed these securities, which are not guaranteed by any other subsidiary of RELX PLC. Analysis by year of repayment 2018 Restated 2017 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Within 1 year 686 614 92 1,392 464 209 89 762 Within 1 to 2 years – 508 87 595 - 593 85 678 Within 2 to 3 years – 451 70 521 - 508 74 582 Within 3 to 4 years – 688 42 730 - 444 58 502 Within 4 to 5 years – 669 27 696 - 630 28 658 After 5 years – 2,389 42 2,341 - 2,014 57 2,071 After 1 year – 4,705 268 4,973 - 4,189 302 4,491 Total 686 5,319 360 6,365 464 4,398 391 5,253 Short-term bank loans, overdrafts and commercial paper were backed up at 31 December 2018 by a $3,000m (£2,354m) committed bank facility consisting of a $1,750m (£1,373m) tranche maturing in July 2023 and a $1,250m (£981m) tranche Analysis by currency 2018 Restated 2017 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m US dollars 19 2,493 177 2,689 103 2,044 187 2,334 £ sterling 314 300 66 683 262 299 69 630 Euro 318 2,526 85 2,929 76 2,055 97 2,228 Other currencies 32 – 32 64 23 - 38 61 Total 686 5,319 360 6,365 464 4,398 391 5,253 Included in the US dollar amounts for term debt above is £544m of debt denominated in euros (€600m); (2017: £742m of debt denominated in euros (€600m) and and Swiss francs (CHF 275m)) that was swapped into US dollars on issuance and against which there are related derivative financial instruments, which, as at 31 December 2018, had a fair value of £19m (2017: £38m). |
Lease arrangements
Lease arrangements | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |
Lease arrangements | 23 Lease arrangements Accounting policy All leases where RELX is the lessee (with the exception of short term and low value leases) are recognised in the statement of financial position. A lease liability is recognised based on the present value of the future lease payments, and a corresponding right-of-use asset is recognised. The right-of-use asset is depreciated over the shorter of the lease term or the useful life of the asset. Lease payments are apportioned between finance charges and a reduction of the lease liability. Low value items and short-term leases with a term of 12 months or less are not required to be recognised on the balance sheet and payments made in relation to these leases are recognised on a straight-line basis in the income statement. The leases held by the Group can be split into two categories, property and non-property. The Group leases various properties, principally offices, which have varying terms and renewal rights that are typical to the territory in which they are located. Non-property includes all other leases, such as cars and printers. Right-of-use assets Property £m Non- property £m 2018 £m Property £m Non- property £m Restated 2017 £m At start of year 264 23 287 298 27 325 Additions 26 5 31 41 5 46 Acquisitions 7 5 12 – – – Remeasurement 13 – 13 8 – 8 Disposals (2 ) (8 ) (10 ) (8 ) 0 (8 ) Depreciation (68 ) (9 ) (77 ) (67 ) (8 ) (75 ) Exchange translation differences 6 1 7 (8 ) (1 ) (9 ) At end of year 246 17 263 264 23 287 Lease liability 2018 £m Restated 2017 £m Current Property (83 ) (81 ) Non-property (9 ) (8 ) Non-current Property (260 ) (295 ) Non-property (8 ) (7 ) Total (360 ) (391 ) Interest expense on the lease liabilities recognised within finance costs was £ 14 17 As at 31 December 2018, RELX was committed to leases with future cash outflows totalling £40m which had not yet commenced and as such are not accounted for as a liability as at 31 December 2018. A liability and corresponding right of use asset will be recognised for these leases at the lease commencement date. RELX subleases vacant space available within its leased properties. IFRS 16 specifies conditions whereby a sublease is classed as a finance lease for the sub-lessor. The finance lease receivable balance held is as follows: 2018 £m Restated 2017 £m Net finance lease receivable 49 57 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Provisions [Abstract] | |
Provisions | 24 Provisions Accounting policy Provisions are recognised when a present obligation exists as a result of a past event, the obligation is reasonably estimable, and it is probable that settlement will be required. Provisions are measured at the best estimate of the expenditure required to settle the obligation at the statement of financial position date. 2018 £m Restated 2017 £m At start of year 63 86 Utilised (14 ) (17 ) Exchange translation differences 2 (6 ) Total 51 63 The Group has exposures to shortfalls in respect of certain property leases for periods up to 2024. Provisions are recognised for net liabilities expected to arise on the exposures relating to non-rent costs on these properties. At 31 December 2018, provisions are included within current and non-current liabilities as follows: 2018 £m Restated 2017 £m Current liabilities 15 12 Non-current liabilities 36 51 Total 51 63 |
Share capital, share premium an
Share capital, share premium and shares held in treasury | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Share capital, share premium and shares held in treasury | 25 Share capital, share premium and shares held in treasury Accounting policy Shares of RELX PLC that are repurchased by the respective company and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2018 £m No. of shares 2017 £m At start of year 1,123,682,106 162 1,144,122,623 165 Issue of ordinary shares 1,580,885 – 2,019,483 – Issue of ordinary shares in exchange for RELX NV shares 930,780,110 134 Cancellation of shares (45,000,000 ) (6 ) (22,460,000 ) (3 ) At end of year 2,011,043,101 290 1,123,682,106 162 RELX NV CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2018 €m No. of shares 2017 €m At start of year 999,961,098 70 1,019,893,404 71 Issue of ordinary shares 888,128 2,067,694 – Cancellation of shares — (22,000,000 ) (1 ) Cancellation of ordinary shares on completion of the corporate simplification (930,780,110 ) (65 ) — – Cancellation of treasury shares on completion of the corporate simplification (70,069,116 ) (5 ) — – At end of year – – 999,961,098 70 NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2018 Shares in issue net of treasury shares (millions) 2017 Shares in issue net of treasury shares (millions) RELX PLC At start of year 1,123.6 (63.5 ) 1,060.1 1,080.5 Issue of ordinary shares 1.6 — 1.6 2.0 Issue of ordinary shares in exchange for RELX NV shares 930.8 (3.5 ) 927.3 – Repurchase of ordinary shares — (26.9 ) (26.9 ) (23.1 ) Net (purchase)/release of shares by the Employee Benefit Trust — (0.2 ) (0.2 ) 0.7 Cancellation of shares (45.0 ) 45.0 — – At end of year 2,011.0 (49.1 ) 1,961.9 1,060.1 RELX NV At start of year 1,000.0 (56.4 ) 943.6 962.2 Issue of ordinary shares 0.9 — 0.9 2.1 Repurchase of ordinary shares — (17.5 ) (17.5 ) (21.4 ) Net release of shares by the Employee Benefit Trust — 0.3 0.3 0.7 Cancellation of ordinary shares on completion of the corporate simplification (930.8 ) 3.5 (927.3 ) – Cancellation of treasury shares on completion of the corporate simplification (70.1 ) 70.1 — – At end of year — — — 943.6 At end of year 2,011.0 (49.1 ) 1,961.9 2,003.7 During the year, RELX PLC repurchased 26.9m (2017: 23.1m; 2016: 29.2m) RELX PLC ordinary shares for an average price of 1,578p; these shares are held in treasury. On completion of the corporate simplification RELX NV shares were cancelled and replaced with RELX PLC shares. This amounted to 930,780,110 RELX NV shares being cancelled and the same number of RELX PLC shares issued in exchange. The RELX NV treasury shares were cancelled as part of the simplification. Prior to the corporate simplification, RELX NV repurchased 17.5m (2017: 21.4m; 2016: 26.1m) of RELX NV ordinary shares for an average price of €17.73. These shares were held in treasury until their cancellation. The total consideration for RELX PLC and RELX NV repurchases was £700m (2017: £700m; 2016: £700m). The Employee Benefit Trust purchases RELX PLC shares which, at the trustees’ discretion, can be used in respect of the exercise of share options and to meet commitments under conditional share awards. During the year, the Employee Benefit Trust purchased 2.9m RELX PLC shares for a total cost of £43m (2017: £39m; 2016: £29m). At 31 December 2018, shares held by the Employee Benefit Trust were £90m (2017: £82m; 2016: £81m) at cost. The issue of ordinary shares in the year relates to the exercise of share options. Details of share option and conditional share schemes are set out in note 7 on page 137. All of the RELX PLC ordinary shares rank equally with respect to voting rights and rights to receive dividends, except for shares held in treasury, which do not attract voting or dividend rights. There are no restrictions on the rights to transfer shares. At 31 December 2018, RELX PLC shares held in treasury related to 7,130,366 (2017: 3,493,817; 2016: 4,229,442) RELX PLC ordinary shares held by the Employee Benefit Trust; and 42,023,020 (2017: 60,077,786; 2016: 59,415,287) .During December 2018, 45m (2017: 22.5m; 2016: £33.7m) RELX PLC ordinary shares held in treasury were cancelled. On 7 December 2018, RELX PLC announced a non-discretionary programme to repurchase further ordinary shares up to the value of £100m. At 31 December 2018, an accrual of £100m was recognised in respect of this non-discretionary commitment. A further 6.0m RELX PLC ordinary shares ordinary shares have been repurchased in January and February 2019 under this programme. |
Other reserves
Other reserves | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Reserves [Abstract] | |
Other reserves | 26 Other reserves Hedge reserve 2018 £m Other reserves 2018 £m Total 2018 £m Restated Total 2017 £m At start of year (3 ) 428 425 (215 ) Profit attributable to RELX PLC shareholders – 1,422 1,422 1,648 Dividends paid – (796 ) (796 ) (762 ) Actuarial gains /(losses) on defined benefit pension schemes – (91 ) (91 ) 233 Fair value movements on cash flow hedges (59 ) – (59 ) 137 Transfer to net profit from cash flow hedge reserve 17 – 17 25 Tax recognised in other comprehensive income 9 15 24 (89 ) Increase in share based remuneration reserve (net of tax) – 35 35 42 Issue of ordinary shares, net of expenses – (227 ) (227 ) 0 Cancellation of shares – 262 262 (566 ) Settlement of share awards – (35 ) (35 ) (37 ) Exchange translation differences – 7 7 9 At end of year (36 ) 1,020 984 425 Other reserves principally comprise retained earnings and the share based remuneration reserve. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related party transactions | 27 Related party transactions Transactions between the RELX PLC and subsidiaries of the Group have been eliminated within the consolidated financial statements. Transactions with joint ventures were made on normal market terms of trading and comprise sales of goods and services of £ 1 0.1 2 0.9 Key management personnel are also related parties as defined by IAS 24 – Related Party Disclosures and comprise the Executive and Non-Executive Directors of RELX PLC. Key management personnel remuneration is set out below. For reporting purposes, salary, benefits and annual incentive payments are considered short-term employee benefits. KEY MANAGEMENT PERSONNEL REMUNERATION 2018 £m 2017 £m 2016 £m Salaries, other short-term employee benefits and non-executive fees 7 5 5 Post-employment benefits 1 1 1 Share based remuneration* 7 8 12 Total 15 14 18 EXECUTIVE DIRECTORS Salary Benefits Annual incentive Cost of share based remuneration * Cost of pension provision * Total £’000 £’000 £’000 £’000 £’000 £’000 Total Executive Directors 2018 1,935 99 3,033 7,003 741 12,811 2017 1,889 101 1,964 8,205 983 13,142 2016 1,843 88 1,881 12,038 1,052 16,902 * The figures for share based awards are calculated in accordance with the methodology set out in the UK Regulations. The figure for performance-related share based awards includes share price appreciation since the date the award was granted. Please see page 87 for further details. The cost of pension provision is calculated in accordance with the methodology set out in the UK Regulations. The amount is reduced by the Directors’ contributions and participation fee for defined benefit schemes and reduced by the payments made to defined contribution schemes or in lieu of pension. NON-EXECUTIVE DIRECTORS 2018 £’000 2017 £’000 2016 £’000 Fees and benefits 1,634 1,396 1,364 The remuneration of non-executive directors comprises fees for services, and benefits primarily relating to tax filing support in respect of filings resulting from their directorships. No deemed benefits were provided during 2018 to former Directors’ (2017: £2,460; 2016: nil). No loans, advances or guarantees have been provided on behalf of any Director. The aggregate gains made by Executive Directors on the exercise of options during 2018 were £ nil |
Exchange rates
Exchange rates | 12 Months Ended |
Dec. 31, 2018 | |
Foreign Exchange Rates [Abstract] | |
Exchange rates | 28 Exchange rates The following exchange rates have been applied in preparing the consolidated financial statements: Income statement Statement of financial position 2018 2017 2016 2018 2017 Euro to sterling 1.13 1.14 1.22 1.11 1.12 US dollars to sterling 1.34 1.29 1.36 1.27 1.35 |
Approval of financial statement
Approval of financial statements | 12 Months Ended |
Dec. 31, 2018 | |
Approval Of Financial Statements [Abstract] | |
Approval of financial statements | 29 Approval of financial statements The consolidated financial statements were approved and authorised for issue by the Boards of Directors of RELX PLC on 20 February 2019. |
Related undertakings
Related undertakings | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related undertakings | 30 Related undertakings A full list of related undertakings (comprising subsidiaries, joint ventures, associates and other significant holdings) is set out below. All are 100% owned directly or indirectly by the Group except where percentage ownership denoted in (x%). Company name Share class Reg office Australia Adaptris Pty Ltd Ordinary AUS1 ELsevier (Australia) Pty Ltd Ordinary AUS3 Fair Events Pty Ltd (49%) Ordinary AUS4 Fitness Show Pty Ltd (80%) Ordinary AUS6 Reed Business Information (Australia) Pty Ltd Ordinary AUS1 Reed Exhibitions Australia Pty Ltd Ordinary AUS2 Reed International Books Australia Pty Ltd Ordinary AUS3 Reed Oz Comic-Con Pty Ltd (80%) Ordinary AUS2 RELX Australia Pty Ltd Ordinary AUS2 SST Software Australia Pty Ltd Ordinary AUS7 Symbiotic Technologies Pty Ltd Ordinary AUS8 Symbiotic Technologies Operation Pty Ltd Ordinary AUS8 Threat Metrix Pty Ltd Ordinary AUS8 Austria Expoxx Messebau GmbH Registered Capital AUT1 LexisNexis Verlag ARD ORAC GmbH &Co KG Registered Capital AUT2 ORAC Gesellschaft m.b.H. Registered Capital AUT2 Reed CEE GmbH Registered Capital AUT1 Reed Messe Salzburg GmbH Registered Capital AUT3 Reed Messe Wien GmbH Registered Capital AUT1 RELX Austria GmbH Registered Capital AUT3 System Stand Bau GmbH Registered Capital AUT4 Belgium LexisNexis BVBA Ordinary BEL1 First 4 Farming Europe NV Ordinary BEL2 Brazil Elsevier Editora Ltda Quotas BRA1 Fircosoft Brazil Consultoriae Servicos de lnformatica Ltda Ordinary BRA2 LexisNexis Informa ç Quotas shares BRA3 Lexis Nexis Servi ç Quotas shares BRA3 MLex Brasil Midia Mercadoligica Ltda (91%) Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas shares BRA3 SST Software do Brasil Ltda Ordinary BRA5 Canada LexisNexis Canada Inc Class A ordinary CAN1 RELX Canada Ltd Unlimited Class A, CAN3 Unlimited Class B, Unlimited Class C, Unlimited Class D, Unlimited Class E, Unlimited Class F, Unlimited Class G, Unlimited Class H Science-Metrix lnc Class A common shares Class B common shares Class A preferred shares Class B preferred shares Class C preferred shares Class D preferred shares CAN4 ThreatMetrix (Canada) Inc Common shares CAN2 China Beijing Bakery China Exhibitions Co., Ltd (25%) Registered Capital CHN1 Beijing Medtime Elsevier Education Technology Co., Ltd (49%) Registered Capital CHN2 Beijing Reed Elsevier Science and Technology Co., Ltd Registered Capital CHN3 Beijing Reed Guanghe Exhibition Co., Ltd (80%) Registered Capital CHN4 C-One Energy Co., Ltd Registered Capital CHN6 Genilex Information Technology Co., Ltd (40%) Registered Capital CHN7 ICIS Consulting (Beijing) Co., Ltd Registered Capital CHN8 KeAi Communications Co., Ltd (49%) Registered Capital CHN9 LexisNexis Risk Solutions (Shanghai) Information Technologies Co., Ltd Registered Capital CHN10 MLex Consulting (Beijing) Co., Ltd (91%) Registered Capital CHN11 Reed Business Information (Shanghai) Co., Ltd Registered Captial CHN20 Reed Elsevier Information Technology (Beijing) Co., Ltd Registered Capital CHN3 Reed Exhibitions (China) Co., Ltd Registered Capital CHN4 Reed Exhibitions Henjin Co., Ltd Registered Capital CHN19 Reed Exhibitions (Shanghai) Co., Ltd Registered Capital CHN12 Reed Hongda Exhibitions (Henan) Co., Ltd (51%) Registered Capital CHN13 Reed Huabai Exhibitions (Beijing) Co., Ltd (51%) Registered Capital CHN4 Reed Huabo Exhibitions (Shenzhen) Co., Ltd (65%) Registered Capital CHN14 Share Reg Company name class office Reed Huaqun ExhibitionsCo., Ltd (52%) Registered Capital CHN4 Reed Kuozhan Exhibitions (Shanghai) Co., Ltd (60%) Registered Capital CHN12 Reed Sinopharm ExhibitionsCo., Ltd (50%) Registered Capital CHN4 RELX (China) Investment Co., Ltd Registered Capital CHN15 Shanghai Datong Medical Information Technology Co., Ltd Registered Capital CHN17 Shanghai SinoReal Exhibitions Co., Ltd (27.5%) Registered Capital CHN18 Colombia LexisNexis Risk Solutions S.A.S. Ordinary COL1 Denmark Elsevier A/S Ordinary DNK1 Reed Elsevier Denmark ApS Ordinary DNK1 Dubai, UAE Reed Exhibitions Free Zone-LLC Ordinary UAE1 RELX Middle East FZ-LLC Ordinary UAE2 Egypt Elsevier Egypt LLC Ordinary EGY1 France Elsevier HoIding France SAS Registered Capital FRA1 Elsevier Masson SAS Registered Capital FRA1 Evoluprint SAS Ordinary FRA2 Fircosoft SAS Ordinary FRA3 Gie Edi-Data (83%) Ordinary FRA4 Gie Juris-Data Ordinary FRA4 GIE PRK- Publicite Robert Krier Registered capital FRA5 LexisNexis Business Information Solutions S.A. Ordinary FRA4 LexisNexis Business Information Solutions Holding S.A. Ordinary FRA6 LexisNexis International Development Services S. A. Ordinary FRA4 LexisNexis SA Ordinary FRA4 Reed Exhibitions ISG SARL Registered capital FRA7 Reed Expositions France SAS Ordinary FRA5 Reed Midem SAS Registered capital FRA7 Reed Organisation SAS Ordinary FRA5 RELX France S.A. Registered capital FRA7 SAFI SA (50%) Ordinary FRA8 Germany Aries Medical Knowledge GmbH & Co KG Registered Capital DEU9 Aries Medical Knowledge Verwaltungsgesellschaft GmbH Registered Capital DEU9 ElsevierGmbH Registered Capital DEU3 Elsevier Information Systems GmbH Registered Capital DEU3 LexisNexis GmbH Registered Capital DEU5 Patent Sight GmbH Registered Capital DEU8 REC Publications GmbH Registered Capital DEU1 Reed Exhibitions (Germany) GmbH Registered Capital DEU1 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 Reed Travel Group (Germany) GmbH Ordinary DEU6 RELX Deutschland GmbH Registered Capital DEU1 Tschach Solutions GmbH Ordinary DEU7 Hong Kong Ascend China Holding Ltd Ordinary HNK1 Reed Business Information (China) Ltd Ordinary HNK2 JC Exhibition and Promotion Ltd (65%) Ordinary HNK1 JYLN Sager Ltd (40%) Ordinary HNK5 MLex Asia Ltd(91%) Ordinary HNK6 Reed Exhibitions Ltd Ordinary HNK5 RELX (Greater China) Ltd Ordinary HNK7 India Comic Con India Private Ltd (36%) Ordinary IND2 FircoSoft India Private Ltd Ordinary IND3 Reed ELsevier Publishing (India) Pvt Ltd Ordinary IND4 Reed Manch Exhibitions Private Ltd (70%) Ordinary IND5 ReedSI Exhibitions Private Ltd (51%) Ordinary IND6 ReedTriune Exhibitions Private Ltd (72%) Ordinary IND7 RELX India Private Ltd Ordinary IND1 Indonesia PT Reed Exhibitions Indonesia (70%) Class A IDN2 Class B PT Reed Panorama Exhibitions (50%) Ordinary IDN1 Share Reg Company name class office Ireland Butterworth (Ireland) Ltd Ordinary, A Ordinary IRL2 Elsevier Services Ireland Ltd Ordinary IRL4. LexisNexis Risk Solutions (Ireland) Ltd Ordinary IRL1 LexisNexis Risk Solutions (Europe) Ltd Ordinary IRL1 Israel LexisNexis Israel Ltd Ordinary ISR1 Italy Elsevier SRL Registered Capital ITA1 ICIS Italia SRL Ordinary ITA2 Reed Exhibitions ISG Italy SRL Ordinary ITA1 Reed Exhibitions Italia SRL Ordinary ITA3 Japan Ascend Japan KK Ordinary JPN1 Elsevier Japan KK Ordinary JPN2 LexisNexis Japan KK Common Stock JPN3 PatentSight Japan Inc Common Shares JPN6 Reed Exhibitions Japan KK Ordinary JPN4 Reed ISG Japan KK Ordinary JPN5 ThreatMetrix GK Membership Interest JPN7 Korea (South) Elsevier Korea LLC Ordinary K0R1 LexisNexis Legal and Professional Service Korea Ltd Ordinary K0R2 Reed Exhibitions Korea Ltd Ordinary K0R3 Reed Exporum Ltd (60%) Ordinary K0R4 Reed K. Fairs Ltd (70%) Ordinary K0R3 Luxembourg FIRCOSOFT Luxembourg S à Ordinary LUX1 Malaysia LexisNexis Malaysia Sdn Bhd Ordinary MYS1 Reed Exhibitions Sdn Bhd Ordinary MYS1 Mexico Masson -Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Ordinary MEX2 Morocco Reed Exhibitions Morocco SARL Ordinary MAR1 New Zealand LexisNexis NZ Ltd Ordinary NZL1 Philippines Reed Elsevier Shared Services (Philippines) Inc. Ordinary PHL1 Poland Elsevier sp.z.o.o. Ordinary POL1 Russia Ecwatech Company ZAO Ordinary RUS1 LexisNexis OOO Registered Capital RUS2 Real Estate Events Direct OOO (80%) Registered Capital RUS3 RELX OOO Registered Capital RUS2 Saudi Arabia Reed Sunaidi Exhibitions (50%) Ordinary SAU1 Singapore Elsevier (Singapore) Pte Ltd Ordinary SGP1 F4F Agriculture (Asia Pacific) Pte Ltd Ordinary SGP2 Lexis- Nexis Philippines Pte Ltd (75%) Preference shares SGP3 Reed Business Information Pte Ltd Ordinary SGP4 RE (HAPL) Pte Ltd Ordinary SGP1 RELX (Singapore) Pte Ltd Ordinary SGP3 SAFI Asia Pte Ltd (50%) Ordinary SGP4 ThreatMetrixPTE Ltd Ordinary SGP5 South Africa Fircosoft South Africa (Pty) Ltd Ordinary ZAF1 Globalrange SA (Pty) Ltd Ordinary ZAF2 Korbitec (Pty) Ltd (90%) Ordinary ZAF3 LegalPerfectTSoftware Solutions (Pty) Ltd (90%) Ordinary ZAF3 LexisNexis Academic (Pty) Ltd (90%) Ordinary ZAF3 LexisNexis (Pty) Ltd (90%) Ordinary ZAF3 LexisNexis Risk Management (Pty) Ltd (90%) Ordinary ZAF3 Property Payment Exchange (SA) (Pty) Ltd (90%) Ordinary ZAF3 Company name Share class Reg office RELX (Pty) Ltd Ordinary ZAF3 Reed Exhibitions (Pty) Ltd (90%) A-shares ZAF4 Reed Events Management (Pty) Ltd (90%) A-shares ZAF4 Reed Exhibitions Group (Pty) Ltd (90%) Ordinary ZAF4 Reed Venue Management (Pty) Ltd (90%) A-shares ZAF4 Winsearch Services (Pty) Ltd (90%) Ordinary ZAF3 Spain Elsevier Espana, S.L. Participations ESP1 Switzerland Elsevier Finance SA Ordinary CHE1 Fircosoft Schweiz GmbH Ordinary CHE2 RELX Risks SA Ordinary CHE1 RELX Swiss Holdings SA Ordinary CHE1 Taiwan Elsevier Taiwan LLC Registered Capital TWN1 Thailand Reed Holding (ThaiLand) Co., Ltd Ordinary THA2 Reed Tradex Company Ltd (49%) Preference shares THAI The Netherlands AGRM Solutions C.V. Partnership Interest NLD1 Elsevier B.V. Ordinary NLD1 Elsevier Employment Services B.V. Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LexisNexis Univentio B.V. Ordinary NLD2 Misset Uitgeverij B.V. (49%) Ordinary NLD4 One Business B.V. Registered Capital NLD5 Reed Business B.V. Ordinary NLD1 RELX Finance B.V. Ordinary NLD1 RELX Holdings B.V. Ordinary NLD1 RELX NederLand B.V. E Shares / RE Shares NLD1 RELX Overseas B.V. E Shares / RE Shares NLD1 RELX US Holdings (Amsterdam) B.V. Ordinary NLD1 ThreatMetrix BV Ordinary NLD3 Turkey Elsevier STM Bilgi Hizmetleri Limited Șirketi Ordinary TUR1 Reed Tüyap Fuarcilik A.Ș.(50%) A-shares / B-shares TUR2 United Kingdom Adaptris Group Ltd Ordinary GBR2 Adaptris Ltd Ordinary GBR2 BradfieId Brett Holdings Ltd 71/2% Preferred GBR1 Butterworth & Co. (Overseas) Ltd Income, Ordinary Ordinary GBR1 Butterworth & Co. (Publishers) Ltd 4.5% Cum. GBR1 Butterworths Ltd Preference, 'A' Ordinary, ‘B’ Ordinary Ordinary GBR5 Cordery Compliance Ltd (72%) Ordinary GBR5 Cordery Ltd (72%) Ordinary GBR5 Crediva Ltd Ordinary GBR6 Dew Events Ltd Ordinary GBR4 Digital Foundry Network (50%) Ordinary GBR4 Drayton Legal Recoveries Ltd Ordinary GBR7 E & P Events LLP (50%) No Shares GBR4 Elsevier Ltd Ordinary GBR8 Elsevier Life Sciences IP Ltd Ordinary GBR8 Formpart (EPS) Ltd Ordinary GBR1 Formpart (HPL) Ltd Ordinary GBR1 Gamer Edition Ltd Ordinary GBR4 Gamer Events Ltd Ordinary GBR4 Gamer Network Ltd Ordinary GBR4 Gamermania Ltd Ordinary GBR2 Hallplaza Ltd Ordinary GBR4 Imbibe Media Ltd Ordinary GBR4 Indicium Financial Ltd Ordinary GBR10 Information Handling Ltd (85%) Ordinary GBR1 Insurance Initiatives Ltd Ordinary GBR10 Legend Exhibitions Ltd Ordinary GBR4 LexisNexis Risk Solutions UK Ltd Ordinary GBR11 MCM Central Ltd Ordinary GBR2 MCM Expo Ltd Ordinary GBR2 MCM Stategy Ltd Ordinary GBR2 Mendeley Ltd Ordinary GBR8 MLex Ltd (91%) A Ordinary Shares, GBR5 Ordinary Moreover Technologies Ltd Ordinary GBR1 Mosby International Ltd Ordinary GBR1 Newsflo Ltd Ordinary GBR1 Company name Share class Reg office NLife Ltd (23.5%) Ordinary GBR14 Offshore Europe (Management) Ltd Ordinary GBR4 Offshore Europe Partnership (50%) Partnership Interest GBR4 Out There Gaming Ltd (70%) Ordinary GBR4 Oxford Spires Management Co; Ltd (55%) Ordinary GBR12 Peopletracer Ltd Ordinary GBR6 Prean Holdings Ltd Deferred, Ordinary GBR1 RE Directors (No.1) Limited Ordinary GBR1 RE Directors (No.2) Limited Ordinary GBR1 RE (SOE) Ltd Ordinary GBR4 RE Secretaries Ltd Ordinary GBR1 Reed All-Energy Ltd Ordinary GBR4 Reed Business Information (Holdings) Ltd Ordinary GBR2 Reed Business Information Ltd Ordinary GBR2 Reed Consumer Books Ltd Ordinary GBR1 Reed Elsevier (UIG) Ltd Ordinary GBR1 Reed Elsevier Pension Trustee Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR4 Reed Exhibitions Ltd Deferred, Ordinary GBR4 Reed Midem Ltd Ordinary GBR4 Reed Nominees Ltd Ordinary GBR1 Reed Overseas Corporation Ltd Ordinary GBR1 Reed Publishing Corporation Ltd Ordinary GBR1 RELX (Holdings) Ltd Ordinary GBR1 RELX (Investments) plc Ordinary GBR1 RELX (UK) Ltd Ordinary GBR1 RELX Finance Ltd Ordinary GBR1 RELX Group plc Ordinary GBR1 'R' Ordinary RELX Overseas Holdings Ltd Ordinary, GBR1 REV Venture Partners Ltd Ordinary GBR1 RPS Ltd Ordinary GBR4 Symbiotic Technologies Operations Ltd Ordinary GBR15 Tracesmart Group Ltd Ordinary GBR6 Tracesmart Ltd Ordinary GBR6 VG247 Ltd Ordinary GBR4 Wunelli Ltd Ordinary GBR13 United States Accuity Asset Verification Services Inc Common Stock USA1 Accuity Inc Common Stock USA1 Aries Systems Corporation Common USA3 Ordinary Derman, Inc Common Stock USA4 Dunlap-Hanna Publishers (50%) Partnership Interest USA8 Elsevier Inc Common Stock USA3 Elsevier Holdings Inc Common Stock USA3 Elsevier Medical Information LLC Membership Interest USA3 Elsevier STM Inc Common Stock USA3 Enclarity, lnc Common Stock USA2 ExitCare LLC Membership Interest USA3 Flightstats, Inc Common Stock USA5 Gamer Network lnc. Common Stock USA3 Gaming Business Asia LLC (50%) Membership Interest USA3 Health Market Science, Inc Common Stock USA2 IDG-RBI China Publishers LLC (50%) Membership Interest USA3 Intelligize, Inc Common Stock USA3 Knovel Corporation Common Stock USA3 Lex Machina lnc Common Stock USA3 LexisNexis Claims Solutions Inc Common Stock USA2 LexisNexis Coplogic Solutions Inc Common Stock USA2 LexisNexis of Puerto Rico Inc Common Stock USA10 LexisNexis Risk Assets Inc Common Stock USA2 LexisNexis Risk Data Management Inc Common Stock USA2 LexisNexis Risk Holdings Inc Common Stock USA2 LexisNexis Risk Solutions Inc Common Stock USA2 LexisNexis Special Services Inc Common Stock USA6 LexisNexis Rule of Law Foundation Non stock USA10 corporation LexisNexis VitalChek Network Inc Common Stock USA2 Managed Technology Services LLC (51%) Membership Interest USA9 Matthew Bender & Company, Inc. Common Stock USA3 MLex US, Inc (91%) Common Stock USA3 PoliceReports.US, LLC Membership Interest USA2 Portfolio Media, Inc Common Stock USA3 Reed Business Information Inc Common Stock USA5 Reed Technology and Information Services Inc. Common Stock USA3 RELX Capital lnc Common Stock USA4 RELX Inc Common Stock USA3 RELXUS Holdings Inc Common Stock USA3 Reman, Inc Common Stock USA3 REVIV Partnership LP No shares USA4 SAFI Americas LLC (50%) Membership Interest USA3 Science-Metrix Corporation Common Stock USA3 Symbiotic Technologies Operations Inc. Common USA2 The Elsevier Foundation No Shares USA3 Share Reg Company name class office The Reed Elsevier Ventures 2005 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2006 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2008 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2009 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2010 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2011 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2012 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2013 Partnership LP Partnership Interest USA4 The Remick Publishers (50%) Partnership Interest USA8 ThreatMetrix, lnc. Common USA2 Ordinary World Compliance, Inc Common Stock USA4 Vietnam Reed TradexVietnam LLC (49%) Ordinary VIE1 Registered offices Australia AUS1: Building B, Level 2, Unit 11,1 Maitland Place, Baulkham Hills NSW 2153, Australia AUS2: Level 10, 10 Help Street, Chatswood NSW 2067, Australia AUS3: 'Tower 2' Level 10, 475 Victoria Avenue, Chatswood NSW 2067 AUS4: Grant Thornton, Level 17, 393 Kent St, Sydney, NSW 2000, Australia AUS5: KPMG, 147 Collins Street, Melbourne, Vic, 3000 AUS6: Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 AUS7: Level 1, 439 Gympie Road, Strathpine, QLD 4500 AUS8: 1303, 799 Pacific Highway, Chatswood, NSW 2067 Austria AUT1: Messeplatz 1, 1020, Wien, Austria AUT2: Marxergasse 25,1030, Wien, Austria AUT3: Am Messezentrum 6, 5020, Salzburg, Austria Belgium BEL1: Grotesteenweg-Zuid 39, 9052 Gent, Belgium BEL2: Leernseteenweg 128 Box E, 9800 Deinze, Belgium BEL3: 67 rue de La Loi, 1040 Etterbeek, Belgium Brazil BRA1: Rua Sete de Setembro, n°111, salas 601,1501/1502, 1601/1602, 1701/1702 e 802-8° Andar, Centro, cidade do Rio de Janeiro, estado do Rio de Janeiro, CEP 20.050-006 BRA2: São Paulo, State of São Paulo, at Rua Bela Cintra, n°1.200, 8th floor, CEP 01415-002 BRA3: Rua Bela Cintra no. 1200,10th floor, Sâo Paulo, 01415-001, Brazil BRA4: Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 BRA5: Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200 Canada CAN1: 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T7W8, Canada CAN2: 160 Elgin Street, Suite 2600, Ottawa, Ontario, K1P 1C3, Canada CAN3: 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 CAN4: 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada China CHN1: Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044, China CHN2: West Building of Administration Building, Xueyuan Road No. 38 Peking University Health Science Center, Haidan District, Beijing, 100191, China CHN3: Oriental Plaza, No. 1 East Chang An Ave,Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China CHN4: Ping An International Finance Center, Room 1504,15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China CHN5: 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China CHN6: 9/F, No 3 Zhongshan Er Road, Guangzhou, China CHN7: Unit 2480, Building 2, No. 7, Chuangxin Road, Science Park of Changping District, Beijing, China CHN8: Room 12B, 7th Floor, Oriental Plaza, 1 East Chang An Avenue, Beijing, China CHN9: 16 Donghuangchenggen North Street, Beijing, 100717, China CHN10: Room 5106, Raffle City, 268 Middle Xizang Road, Huangpu District, Shanghai, 200001, China CHN11: Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road, Chaoyang District, Beijing CHN12: lntercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China CHN13: World Expo Mansion, 14F, No. 04-05, No. 8 Business Out Ring Road, Zhengzou New District, Zhengzou, 450000, China CHN14: Shenzhen International Chamber of Commerce Tower, Room 1801-1802,1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048, China CHN15: Room 319, 238 Jiangchangsan Road, Jing'an District, Shanghai, China CHN16: Room 702-2,200 Huiyuan Road, Jiading Industrial Area,Shanghai CHN17: No 498, GouShouJing Road, Building 6 Unit 12502-505, Shanghai, Pudong New District, 201203, China CHN18: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality CHN19: FL2, No.979, Yunhan Road, Nicheng Town, Pudong NewArea CHN20: 4/F Block C, No999 Jingzhong Road,Changning District, Shanghai, China Colombia COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá, d.c., 76600, Colombia Denmark DNK1 : Niels Jernes Vej 10,9220, Aalborg Øst, Denmark Dubai, UAE UAE1: Office No. 328, Building 02, third floor, P.O. Box 502425, Dubai, United Arab Emirates UAE2: Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates Egypt EGY1: Land Mark Office BuiIding, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt Registered offices France FRA1: 65, rue Camille Desmoulins, 92130, Issyles Moulineaux, France FRA2: Parc Euronord- 10, rue du Parc- 31150 Bruguieres FRA3: 247 rue de Bercy 75012 Paris FRA4: 141 rue de Javel,75015 Paris FRA5: 52 Quai de Dion Bouton 92800 Puteaux FRA6: lmmeuble «Technopolis», 350 rue Georges Besse-Nîmes (30000) FRA7: 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France FRA8: 6-8 Rue Chaptal, 75009 Paris Germany DEU1: Völklinger Strasse 4,40219, Düsseldorf, Germany DEU3: Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany DEU4: Hackerbrücke 6,80335, Munich, Germany DEU5: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU6: Schwannstr. 6, 40476 Düsseldorf DEU7: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany DEU8: Joseph-Schumpeter-Allee 33,53227, Bonn DEU9: Hauptstrasse 47, 40764, Lagenfeld Hong Kong HNK1: 20/F Alexandra House, 18 Chater Road, Central, Hong Kong HNK2: Level 28, Building 8, 3 Pacific Place, 1 Queens Road East, HONG KONG, Hong Kong HNK3: Unit 204 2/F, Malaysia Bldg., 50 Gloucester Rd, Wanchai, Hong Kong HNK4: Level 54 Hopewell Center, 183 Queens Road East (Tricor Office), Hong Kong HNK5: Flat 2,19/F Henan Building 90-92, Jaffe Road Wanchai, Hong Kong, Hong Kong HNK6: 703 Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong HNK7: 3901,39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong, Hong Kong India IND1: 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India IND2: B9/5 Vasant Vihar, New Delhi, 110057, India IND3: n°664 Level 6 – Chennai Regus- Citi Centre – 10/11 Dr Radhakrishnan Salai, Mylapore – Chennai 600004 IND4: 18, Kotla Lane, Rouse Avenue, New Delhi, 110002, India IND5: B-15/192, Pharma Apartments, Patparganj, I.P. Extension, New Delhi, 110092, India IND6: B-9, "A" Block, LSC, Naraina Vihar, Ring Road, New Delhi, 110028, India IND7: #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India Indonesia IDN1: Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia IDN2: Menara Citicon LeveL8. Unit 8011 & 8012 JL. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia Ireland IRL1: 80 Harcourt Street, Dublin 2, Ireland IRL2: Arthur Cox Building, Earlsfort Terrace, Dublin 2, Ireland IRL3: (A&L Goodbody Secretarial Services), 25/28 North Wall Quay, Dublin 1, D01 H104, Ireland IRL4: Suite 4320, Atlantic Avenue, Westpark Business Campus, Shannon, Clare, Ireland Israel ISR1: Meitar, attorneys at Law, 16 Abba Hillel Road, Ramat Gan, 5250608, Israel Italy ITA1: Via Marostica 1,20146, Milan, Italy ITA2: Studio Colombo e Associati, Via Cino del Duca 5,20122, Milano, Italy ITA3: Milano (Ml) Via Marostica 1 cap 20146 Japan JPN1: Kyodo Tsushin Kaikam 2F, 2-2-5 Toronomon, Minato-ku, Tokyo, 105-0001 JPN2: Ark Mori Building, 1-12-32 Akasaka, Minato-ku,Tokyo, 107-6029, Japan JPN3: 1-9-15, Higashi Azabu, Minato-ku Tokyo Japan JPN4: Shinjuku-Nomura Bldg., 1-26-2 Nishi-shinjuku,Shinjuku-ku, Tokyo, Japan JPN5: 13-12 Rokubancho, Chiyoda-ku.Tokyo. Japan JPN6: 7F Cross Office Uchisaiwaicho. 1-18-6 Nishi-Shinbashi, Minato-ku.Tokyo JPN7: 2-6, Kasumigaseki 3-chome, Chiyoda-ku,Tokyo Korea (South) KOR1: Chunwoo Building, 4th floor, 534 ltaewon-dong,Yongsan-gu,Seoel, 140-861, Korea, Republic of KOR2: 206 Noksapyeong-daero,Yongsan-gu, Seoel, Korea, Republic of KOR3: "Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea" KOR4: 1324 B Lock A Tera Tower 11,201, Songpa-daero, Songpa-gu, Seoul, 05854 Luxembourg LUX1: Bloc B 19-21, Route d’Arlon, L-8009 Strassen, Luxembourg Registered offices Malaysia MYS1: 6th Floor, Akademi Etiqa, No. 23 JaLan Melaka, 50100 KuaLa Lumpur, Malaysia Mexico MEX1: Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México MEX2: Av. Insurgentes No. 1388, Piso 8, Col. Actipan, 03230 Mexico, Mexico Morocco MAR1: Forum Bab Abdelaziz au 62, Angle Blvd. d’Anfa, 6éme etage, Apt 61, Casablanca, Morocco New Zealand NZL1: Level 1,138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand Philippines PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines Poland POL1: Natpoll Building, ul. Migdalowa 4/59,02-796, Warsaw, Poland Russia RUS1: Pokrovka Street 27, Building 1, Moscow, Russian Federation RUS2: 24 Bolshaya Nikitskaya Str., bldg. 5, Moscow 125009, Russian Federation RUS3: Petrozavodskaya street 28/4, Building VI, room 2,125475, Moscow, Russian Federation Saudi Arabia SAU1: Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia Singapore SGP1: 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore SGP2: 16 Raffles Quay, #33-03 Hong Leong Building,Singapore, 048581,Singapore SGP3: 80 Robinson Road, #02-00, Singapore, 068898, Singapore SGP4: 1 Changi Business Park Crescent, #06-01 PLaza 8 & CBP, Singapore, 48602551, Singapore SGP5: 8 Robinson Road #03-00ASO Building Singapore 048544 South Africa ZAF1: Regus Brooklyn Bridge, 3rd Floor Steven House, Brooklyn Bridge Office Park, Fehrsen Street, Brooklyn, Pretoria ZAF2: Fourways Gold Park, 1st Floor - Wentworth Building, 32 Roos Street, Fourways, 2191, South Africa ZAF3: 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa ZAF4: Thebe House,2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa ZAF5: 14 Hertzog Street, Oranjeville, 9415 Spain ESP1: C/ Josep Tarradellas 20-30,1°/20029, Barcelona, Spain ESP2: Calle Zancoeta 0009,48013, Bilbao, Viscaya, Spain Switzerland CHE1: Espace de L’Europe 3,2002 Neuchatel, Switzerland CHE2: Bahnhofstrasse 100-8001 Zurich Taiwan TWN1: Suite N-818,8/F, Chia Hsin Cement Building, 96 Zhong Shan North Road, Section 2, Taipei. 10449. Taiwan Thailand THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road.Silom, Bangrak, Bangkok, 10500,Thailand THA2: 540 Mercury Tower, 22nd Floor, Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 The Netherlands NLD1: Radarweg 29,1043 NX Amsterdam, Netherlands NLD2: Galileiweg 8,2333 BD Leiden, Netherlands NLD3: Evertvan de Beekstraat 1 The Base 3/F, 1118CL Schiphol NLD4: Prins Hendrikstraat 17,7001GK Doetinchem NLD5: Spaklerweg 53,1114AE Amsterdam-Duivendrecht Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13Șișli-Maslak, Istanbul, Turkey TUR2: Tüyap Fuarve Kongre Merkezi,E-5Karayolu Üzeri. GürpinarKavșağı 34500, Büyük9ekmece, Istanbul, 34500, Turkey Registered offices United GBR1: 1-3 Strand, London, WC2N 5JR, United Kingdom GBR2: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom GBR3: AG Gateway Global Network, 85 Great Portland Street, First Floor, London, W1W7LT, United Kingdom GBR4: Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom GBR5: Lexis House, 30 Farringdon Street, London, EC4A4 HH, United Kingdom GBR6: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom GBR7: The Eye, 1 Procter Street, London, WC1V6EU, United Kingdom GBR8: The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom GBR9: c/o RELX (UK) Limited, Butterworths Limited, 4 Hill Street, Edinburgh, EH23JZ, Scotland GBR10: 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU GBR11: 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, London, SL8 8BW, United Kingdom GBR12: 40 Kimbolton Road, Bedford, England, MK40 2NR GBR13: 1000 Lakeside, Western Road, Portsmouth, P06 3EN, United Kingdom GBR14: Unit 18-19 Loughborough Technology Centre, Epinal Way, Loughborough, England, LE11 3GE GBR15: 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW United States USA1: 1007 Church Street, Evanston IL 60201 USA2: 1000 Alderman Dr., Alpharetta, GA 30005 USA3: 230 Park Ave, New York, NY 10169 USA4: 1105 North Market St, Wilmington, DE 19801 USA5: 3355 West Alabama Street, Houston, TX 77098 USA6: Puerta Del Condado #1095, Wilson Ave, Local # 3,San Juan, PR 00907 USA7: N909 N. Sepulveda Blvd., 11th Floor, El Segundo, CA 90245 USA8: 313 Washington Street, Suite 400, Newton, MA 02458 USA9: 1209 Orange Street, Wilmington, DE 19801 USA10: 9443 Springboro Pike, Miamisburg,OH 45342 Vietnam VIE1: 78 Nguyen Bieu, Ward 1, District 5, Ho Chi Minh City |
Basis of preparation and acco_2
Basis of preparation and accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies [Abstract] | |
Basis of preparation | Basis of preparation The shares of RELX PLC are traded on the London, Amsterdam and New York stock exchanges. RELX PLC and its subsidiaries, joint ventures and associates are together known as ‘RELX’. Up until the corporate simplification, consolidated accounts were prepared on the basis that all shareholders were regarded as having interests in a single economic entity, and as such the dual parent Group formed a single reporting entity for the presentation of onsolidated financial statements. The corporate simplification as described on page 72 therefore has had no impact on the basis of preparation of the consolidated financial statements. In preparing the consolidated financial statements, subsidiaries are accounted for under the acquisition method and investments in associates and joint ventures are accounted for under the equity method. All intra-group transactions and balances are eliminated. On acquisition of a subsidiary, or interest in an associate or joint venture, fair values, reflecting conditions at the date of acquisition, are attributed to the net assets, including identifiable intangible assets acquired. Adjustments are made to bring accounting policies into line with those of the Group. The results of subsidiaries sold or acquired are included in the consolidated financial statements up to or from the date that control passes from or to the Group. Non-controlling interests in the net assets of the Group are identified separately from shareholders’ equity. Non-controlling interests consist of the amount of those interests at the date of the original acquisition and the non-controlling share of changes in equity since the date of acquisition. The Directors of RELX PLC, having made appropriate enquiries, consider that adequate resources exist for the Group to continue in operational existence for the foreseeable future and that, therefore, it is appropriate to adopt the going concern basis in preparing the consolidated financial statements for the year ended 31 December 2018. |
Accounting policies | Accounting policies The Group’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and as issued by the International Accounting Standards Board (IASB). The accounting policies under IFRS are included in the relevant notes to the consolidated financial statements. The accounting policies below are applied throughout the financial statements and are unchanged from those applied in preparing the consolidated financial statements for the year ended 31 December 2017 and 2016, with the exception of policies relating to the adoption of IFRS 9 –Financial Instruments, IFRS 15- Revenue from Contracts with Customers and IFRS 16-Leases. Accounting policy Shares of RELX PLC that are repurchased by the respective company and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. |
Restatement | Restatement The consolidated financial statements have been restated for the retrospective adoption of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases. Each note identifies when comparatives have been restated. |
Foreign exchange translation | Foreign exchange translation The consolidated financial statements are presented in sterling. Transactions in foreign currencies are recorded at the rate of exchange prevailing on the date of the transaction. Non-monetary assets and liabilities that are measured at historical cost in foreign currencies are translated using the exchange rate at the date of the transaction. At each statement of financial position date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rate prevailing on the statement of financial position date. Exchange differences arising are recorded in the income statement other than where hedge accounting applies, as set out on pages 150 155 Assets and liabilities of foreign operations are translated at exchange rates prevailing on the statement of financial position date. Income and expense items and cash flows of foreign operations are translated at the average exchange rate for the period. Significant individual items of income and expense and cash flows in foreign operations are translated at the rate prevailing on the date of transaction. Exchange differences arising are classified as equity and transferred to the translation reserve. When foreign operations are disposed of, the related cumulative translation differences are recognised within the income statement in the period. The Group uses derivative financial instruments, primarily forward contracts, to hedge its exposure to certain foreign exchange risks. Details of the Group’s accounting policies in respect of derivative financial instruments are set out on page 150 |
Critical judgements and key sources of estimation uncertainty | Critical judgements and key sources of estimation uncertainty The most significant accounting policies in determining the financial condition and results of the Group, and those requiring the most subjective or complex judgement, relate to and are included in the following notes: ∎ valuation of goodwill and intangible assets – notes 14 and 15; ∎ capitalisation of development spend – note 15; ∎ taxation – note 9; and ∎ accounting for defined benefit pension schemes – note 6. |
Other significant accounting policies | Other significant accounting policies The accounting policy in respect of revenue recognition is also significant in determining the financial condition and results of the Group, although the application of this policy is more straight forward. This policy is included in note 2. |
Standards and amendments effective for the year | Standards and amendments effective for the year New accounting standards and amendments effective for the period and adopted by the Group in 2018 are IFRS 9 – Financial Instruments and IFRS 15 – Revenue from Contracts with Customers. IFRS 16 – Leases has also been adopted in the period, a year earlier than its mandatory effective date of 1 January 2019. The impact of the adoption of these standards on the full year 2017 results is as follows: 2016 as reported £m IFRS 9 impact £m IFRS 15 impact £m IFRS 16 impact £m 2016 as restated £m Income statement Revenue 6,895 – (6 ) – 6,889 Reported operating profit 1,708 – (6 ) 6 1,708 Net finance costs (195 ) (2 ) – (16 ) (213 ) Reported net profit attributable to RELX PLC shareholders 1,161 (2 ) (4 ) (5 ) 1,150 Reported EPS 56.3p (0.1p) (0.2p) (0.2p) 55.8p Statement of financial position Right of use assets 20 – – 306 326 Borrowings (including lease liability) (4,843 ) 17 – (430 ) (5,256 ) Finance lease receivable – – – 63 63 Deferred income (1,941 ) – (67 ) – (2,008 ) 2017 as reported £m IFRS 9 impact £m IFRS 15 impact £m IFRS 16 impact £m 2017 as restated £m Income statement Revenue 7,355 – (14 ) – 7,341 Adjusted operating profit 2,284 – (11 ) 11 2,284 Reported operating profit 1,905 – (11 ) 11 1,905 Net finance costs (182 ) (2 ) – (15 ) (199 ) Adjusted net profit attributable to RELX PLC shareholders 1,635 (2 ) (9 ) (4 ) 1,620 Reported net profit attributable to RELX PLC shareholders 1,659 (2 ) (9 ) – 1,648 Adjusted EPS 81.0p (0.1p) (0.5p) (0.2p) 80.2p Reported EPS 82.2p (0.1p) (0.5p) – 81.6p Statement of financial position Right of use asset 16 – – 271 287 Borrowings (including lease liability) (4,886 ) 14 – (381 ) (5,253 ) Finance lease receivable – – – 57 57 Deferred income (1,834 ) – (76 ) – (1,910 ) IFRS 9 – Financial Instruments IFRS 9 replaces the existing classification and measurement requirements in IAS 39 – Financial Instruments: Recognition and Measurement. RELX has applied IFRS 9 retrospectively, with the exception of hedge accounting, which has been applied prospectively. The main impact on previously reported numbers results in a reduction to borrowings of £14m as at 31 December 2017 (31 December 2016: reduction of £17m), arising from a retrospective change in the treatment under IFRS 9 of certain debt modifications undertaken in 2012 and 2013. IFRS 15 – Revenue from Contracts with Customers provides a single point of reference for revenue recognition, including guidance in relation to identification of the contract and licensing arrangements. RELX has adopted IFRS 15 on a fully retrospective basis. The main impact of IFRS 15 is a change in the timing of revenue recognition as a result of the guidance on identification and satisfaction of performance obligations under IFRS 15. The impact of IFRS 15 is greater at the half year, but the adoption is not considered overall to have a material impact on the results. The impact on the income statement for the 12 months to 31 December 2017 is a decrease of £11m to both reported and adjusted operating profit (31 December 2016: decrease of £6m to reported operating profit). IFRS 16 – Leases (early adoption and therefore effective for the 2018 financial year) eliminates the distinction between operating and finance leases and requires lessees to recognise all leases with a lease term of greater than 12 months in the statement of financial position. RELX has adopted this standard a year earlier than the mandatory effective date of 1 January 2019. IFRS 16 has been adopted on a fully retrospective basis. The change in accounting standard results in both an asset and liability being brought onto the statement of financial position for the majority of leases where RELX is a lessee. The asset is then depreciated, and interest expense recognised over the life of the lease. The standard also gives guidance on the recognition of subleases, which results in finance sublease receivables being recognised on the balance sheet. As at 31 December 2017, the restated statement of financial position includes additional right-of-use assets of £271m, finance lease receivables of £57m and additional lease liabilities of £381m (31 December 2016: right-of-use assets of £306m, finance lease recieveables of £63m and lease liabilities of £430m). The impact on the income statement for the 12 months to 31 December 2017 is an increase of £11m to both reported and adjusted operating profit (31 December 2016: £6m increase to reported), offset by a net increase to finance costs of £15m (31 December 2016: £16m). After taking into account additional gains from disposals of right-of-use assets, there is no impact on reported net profit. Opening balance sheet adjustment An opening balance sheet adjustment has been made at 1 January 2016 to reflect the impact of adoption on prior years. The adjustment reduces opening retained earnings by £36m. This mainly relates to the recognition of lease expense earlier on in the lease under IFRS 16 and the deferral of revenue into future periods under IFRS 15. Additionally, a number of amendments and interpretations have been issued which are not expected to have any significant impact on the Group’s accounting policies and reporting. |
IFRS 9 – Financial Instruments | IFRS 9 – Financial Instruments IFRS 9 replaces the existing classification and measurement requirements in IAS 39 – Financial Instruments: Recognition and Measurement. RELX has applied IFRS 9 retrospectively, with the exception of hedge accounting, which has been applied prospectively. The main impact on previously reported numbers results in a reduction to borrowings of £14m as at 31 December 2017 (31 December 2016: reduction of £17m), arising from a retrospective change in the treatment under IFRS 9 of certain debt modifications undertaken in 2012 and 2013. Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, cash and cash equivalents, payables and accruals, borrowings and derivative financial instruments. Investments (other than investments in joint ventures and associates) are described in note 16. The fair value of such investments is based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. (These investments are typically classified as either Level 2 or 3 in the IFRS 13 fair value hierarchy). Trade receivables are carried in the statement of financial position at invoiced value less allowance for estimated irrecoverable amounts. Irrecoverable amounts are estimated based on the ageing of trade receivables, experience and circumstance. Borrowings and payables are recorded initially at fair value and subsequently carried at amortised cost (other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk). Derivative financial instruments are used to hedge interest rate and foreign exchange risks. Where an effective hedge is in place against changes in the fair value of fixed rate borrowings, the hedged borrowings are adjusted for changes in fair value attributable to the risk being hedged with a corresponding income or expense included in the income statement within finance costs. The offsetting gains or losses from remeasuring the fair value of the related derivatives are also recognised in the income statement with in finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. With effect from 1January 2018, the fair value amounts relating to foreign currency basis spreads are recorded in a separate component of equity in the cost of hedging reserve. If a hedged firm commitment or forecasted transaction results in the recognition of a non-financial asset or liability, then, at the time that the asset or liability is recognised, the associated gains or losses on the derivative that had previously been recognised in other comprehensive income are included in the initial measurement of the asset or liability. For hedges that do not result in the recognition of an asset or a liability, amounts deferred in the hedge reserve are recognised in the income statement in the same period in which the hedged item affects net profit or loss. Any ineffective portion of hedges is recognised immediately in the income statement. Cash flow hedge accounting is discontinued when a hedging instrument expires or is sold, terminated or exercised, or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in other comprehensive income is either retained in the hedge reserve until the firm commitment or forecasted transaction occurs, or, where a hedged transaction is no longer expected to occur, is immediately credited or expensed in the income statement. Derivative financial instruments that are not designated as hedging instruments are recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of derivative financial instruments represent the replacement costs calculated using observable market rates of interest and exchange. The fair value of long-term borrowings is calculated by discounting expected future cash flows at observable market rates. (These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy.) |
IFRS 15 – Revenue from Contracts with Customers | IFRS 15 – Revenue from Contracts with Customers provides a single point of reference for revenue recognition, including guidance in relation to identification of the contract and licensing arrangements. RELX has adopted IFRS 15 on a fully retrospective basis. The main impact of IFRS 15 is a change in the timing of revenue recognition as a result of the guidance on identification and satisfaction of performance obligations under IFRS 15. The impact of IFRS 15 is greater at the half year, but the adoption is not considered overall to have a material impact on the results. The impact on the income statement for the 12 months to 31 December 2017 is a decrease of £11m to both reported and adjusted operating profit (31 December 2016: decrease of £6m to reported operating profit). |
IFRS 16 – Leases (early adoption and therefore effective for the 2018 financial year) | IFRS 16 – Leases (early adoption and therefore effective for the 2018 financial year) eliminates the distinction between operating and finance leases and requires lessees to recognise all leases with a lease term of greater than 12 months in the statement of financial position. RELX has adopted this standard a year earlier than the mandatory effective date of 1 January 2019. IFRS 16 has been adopted on a fully retrospective basis. The change in accounting standard results in both an asset and liability being brought onto the statement of financial position for the majority of leases where RELX is a lessee. The asset is then depreciated, and interest expense recognised over the life of the lease. The standard also gives guidance on the recognition of subleases, which results in finance sublease receivables being recognised on the balance sheet. |
Standards, amendments and interpretations not yet effective | Standards, amendments and interpretations not yet effective A number of amendments and interpretations have been issued which are not expected to have any significant impact on the accounting policies and reporting. |
Share based remuneration | Accounting policy Share based remuneration The fair value of share based remuneration is determined at the date of grant and recognised as an expense in the income statement on a straight-line basis over the vesting period, taking account of the estimated number of shares that are expected to vest. Market based performance criteria are taken into account when determining the fair value at the date of grant. Non-market based performance criteria are taken into account when estimating the number of shares expected to vest. The fair value of share based remuneration is determined by use of a binomial or Monte Carlo simulation model as appropriate. All of the Group’s share based remuneration is equity settled. |
Inventories accounting policy | Accounting policy Inventories and pre-publication costs are stated at the lower of cost, including appropriate attributable overhead, and estimated net realisable value. Such costs typically comprise direct internal labour costs and externally commissioned editorial and other fees. Pre-publication costs, representing costs incurred in the origination of content prior to publication, are expensed systematically reflecting the expected sales profile over the estimated economic lives of the related products, generally up to five years. |
Borrowings accounting policy | Accounting policy Borrowings are recorded initially at fair value and subsequently carried at amortised cost, other than fixed rate borrowings in designated hedging relationships for which the carrying amount of the hedged portion of the borrowings is subsequently adjusted for the gain or loss attributable to the hedged risk. When the related derivative in such a hedging relationship expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. |
Segments accounting policy | The Group’s reported segments are based on the internal reporting structure and financial information provided to the Boards. Adjusted operating profit is the key segmental profit measure used by the Group in assessing performance. Adjusted operating profit is reconciled to operating profit on page 131 |
Revenue accounting policy | Revenue arises from the provision of products and services under contracts with customers. In all cases, revenue is recognised to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and is recognised when the customer obtains control of the good or service. Revenue is stated at the transaction price, which includes allowance for anticipated discounts and returns and excludes customer sales taxes and other amounts to be collected on behalf of third parties. Where the goods or services promised within a contract are distinct, they are identified as separate performance obligations and are accounted for separately. Where separate performance obligations are identified, total revenue is allocated on the basis of relative stand-alone selling prices or management’s best estimate of relative value where stand-alone selling prices do not exist. Management estimates may include a cost-plus method or comparable product approach, but must be supported by objective evidence. A residual approach may be applied where it is not possible to derive a reliable management estimate for a specific component. ▪ ▪ ▪ |
Pension accounting policy | Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. |
Taxation accounting policy | Accounting policy Tax expense comprises current and deferred tax. Current and deferred tax are charged or credited in the income statement except to the extent that the tax arises from a transaction or event which is recognised, in the same or a different period, outside the income statement (either in other comprehensive income, directly in equity, or through a business combination), in which case the tax appears in the same statement as the transaction that gave rise to it. Current tax is the amount of corporate income taxes expected to be payable or recoverable based on the profit for the period as adjusted for items that are not taxable or not deductible, and is calculated using tax rates and laws that were enacted or substantively enacted at the date of the statement of financial position. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Provisions are established where appropriate on the basis of amounts expected to be paid to the tax authorities. Current tax includes amounts provided in respect of uncertain tax positions when management expects that, upon examination of the uncertainty by a tax authority in possession of all relevant knowledge, it is more likely than not that an economic outflow will occur. Changes in facts and circumstances underlying these provisions are reassessed at the date of each statement of financial position, and the provisions are remeasured as required to reflect current information. Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the statement of financial position. Deferred tax is calculated using tax rates and laws that have been enacted or substantively enacted at the end of the reporting period, and which are expected to apply when the related deferred tax asset is realised or the deferred tax liability is settled. Deferred tax liabilities are generally recognised for all taxable temporary differences but not recognised for taxable temporary differences arising on investments in subsidiaries, associates and joint ventures where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future. Deferred tax liabilities are not recognised on temporary differences that arise from goodwill which is not deductible for tax purposes. Deferred tax assets are recognised to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilised, and are reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are not recognised in respect of temporary differences that arise on initial recognition of assets and liabilities acquired other than in a business combination. Deferred tax is not discounted. Critical judgement and key source of estimation uncertainty The Group is subject to tax in numerous jurisdictions, giving rise to complex tax issues that require management to exercise judgement in making tax determinations. As a multinational enterprise, our tax returns in the countries in which we operate are subject to tax authority audits as a matter of routine. While the Group is confident that tax returns are appropriately prepared and filed, amounts are provided in respect of uncertain tax positions that reflect the risk with respect to tax matters under active discussion with tax authorities, or which are otherwise considered to involve uncertainty. Provisions against uncertain tax positions are measured using one of the following methods, depending on which of the methods management expects will better predict the amount it will pay over to the tax authority: ◾ The Single Best Estimate – where there is a single outcome that is more likely than not to occur. This will happen, for example, where the tax outcome is binary (such as whether an entity can deduct an item of expenditure) or the range of possible outcomes is narrow or concentrated on a single value. The most likely outcome may be that no tax is expected to be payable, in which case the provision is nil; or ◾ A Probability-Weighted Expected Value – where, on the balance of probabilities, something will be paid to the tax authority but the possible outcomes are widely dispersed with low individual probabilities (i.e. there is no single outcome more likely than not to occur). In this case, the provision is the sum of the probability-weighted amounts in the range. In assessing provisions against uncertain tax positions, management uses in-house tax experts, professional firms and previous experience to inform the evaluation of risk. However, it remains possible that uncertainties will ultimately be resolved at amounts greater or smaller than the liabilities recorded. In particular, although we report cross-border transactions undertaken between Group subsidiaries on an arm’s-length basis in tax returns in accordance with OECD guidelines, transfer pricing relies on the exercise of judgement and it is frequently possible for there to be a range of legitimate and reasonable views. This means that it is impossible to be certain that the returns basis will be sustained on examination. Discussions with tax authorities relating to cross-border transactions and other matters are ongoing in each of our major trading jurisdictions. Although the timing and amount of final resolution of these uncertain tax positions cannot be reliably predicted, no significant impact on the profitability of the Group is expected in the near term. Estimation of income taxes also includes assessments of the recoverability of deferred tax assets. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment. |
Cash flows accounting policy | Accounting policy Cash and cash equivalents comprise cash balances, call deposits and other short-term highly liquid investments and are held in the statement of financial position at fair value. |
Goodwill accounting policy | Accounting policy On the acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets on a fair value basis, with any excess purchase consideration representing goodwill. Goodwill arising on acquisitions also includes amounts corresponding to deferred tax liabilities recognised in respect of acquired intangible assets. Goodwill is recognised as an asset and reviewed for impairment when there is an indicator that the asset may be impaired and at least annually. Any impairment is recognised immediately in the income statement and not subsequently reversed. On disposal of a subsidiary or business, the attributable amount of goodwill is included in the determination of the profit or loss on disposal. At each statement of financial position date, the carrying amounts of tangible and intangible assets and goodwill are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount, which is the higher of value in use and fair value less costs to sell, of the asset is estimated in order to determine the extent, if any, of the impairment loss. Where the asset does not generate cash flows that are independent from other assets, value in use estimates are made based on the cash flows of the cash generating unit to which the asset belongs. Intangible assets with an indefinite useful life are tested for impairment at least annually and whenever there is any indication that the asset may be impaired. If the recoverable amount of an asset or cash generating unit is estimated to be less than its net carrying amount, the net carrying amount of the asset or cash generating unit is reduced to its recoverable amount. Impairment losses are recognised immediately in the income statement in administration and other expenses. Critical judgement and key source of estimation uncertainty The carrying amounts of goodwill and indefinite lived intangible assets in each business are reviewed for impairment at least annually. The carrying amounts of all other intangible assets are reviewed where there are indications of possible impairment. An impairment review involves a comparison of the carrying value of the asset with estimated values in use based on the latest management cash flow projections, approved by the Boards. Key areas of judgement in estimating the values in use of businesses are the growth in cash flows over a forecast period of up to five years, the long-term growth rate assumed thereafter and the discount rate applied to the forecast cash flows. A description of the key assumptions and sensitivities is provided below. |
Intangible assets accounting policy | Accounting policy Intangible assets acquired as part of a business combination are stated in the statement of financial position at their fair value as at the date of acquisition, less accumulated amortisation. Internally generated intangible assets are stated in the statement of financial position at the directly attributable cost of creation of the asset, less accumulated amortisation. Intangible assets acquired as part of business combinations comprise: market-related assets (e.g. trademarks, imprints, brands); customer-related assets (e.g. subscription bases, customer lists, customer relationships); editorial content; software and systems (e.g. application infrastructure, product delivery platforms, in-process research and development); contract-based assets (e.g. publishing rights, exhibition rights, supply contracts); and other intangible assets. Internally generated intangible assets typically comprise software and systems development where an identifiable asset is created that is probable to generate future economic benefits. Intangible assets, other than journal titles determined to have indefinite lives, are amortised on a straight-line basis over their estimated useful lives. The estimated useful lives of intangible assets with finite lives are as follows: market and customer-related assets – 3 to 40 years; content, software and other acquired intangible assets – 3 to 20 years; and internally developed intangible assets – 3 to 10 years. Journal titles determined to have indefinite lives are not amortised and are subject to impairment review at least annually, including a review of events and circumstances to ensure that they continue to support an indefinite useful life. Critical judgements and key sources of estimation uncertainty On acquisition of a subsidiary or business, the purchase consideration is allocated between the net tangible and intangible assets other than goodwill on a fair value basis, with any excess purchase consideration representing goodwill. The valuation of acquired intangible assets represents the estimated economic value in use, using standard valuation methodologies, including as appropriate, discounted cash flow, relief from royalty and comparable market transactions. Acquired intangible assets are capitalised and amortised systematically over their estimated useful lives, subject to impairment review. The assumptions used are subject to management judgement. Appropriate amortisation periods are selected based on assessments of the longevity of the brands and imprints, the strength and stability of customer relationships, the market positions of the acquired assets and the technological and competitive risks that they face. Certain intangible assets in relation to acquired science and medical publishing businesses have been determined to have indefinite lives. The longevity of these assets is evidenced by their long-established and well-regarded journal titles, and their characteristically stable market positions. The assumptions used are subject to management judgement. Development spend encompasses investment in new products and other initiatives, ranging from the building of online delivery platforms, to launch costs of new services, to building new infrastructure and applications. Launch costs and other ongoing operating expenses of new products and services are expensed as incurred. The costs of building product applications, platforms and infrastructure are capitalised as intangible assets, where the investment they represent has demonstrable value and the technical and commercial feasibility is assured. Costs eligible for capitalisation must be incremental, clearly identified and directly attributable to a particular project. The resulting assets are amortised over their estimated useful lives. Impairment reviews are carried out at least annually where indicators of impairment are identified. Judgement is required in the assessment of the potential value of a development project, the identification of costs eligible for capitalisation and the selection of appropriate asset lives. |
Investments, other than investments in joint ventures and associates, accounting policy | Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Changes in the fair value of investments held as part of the venture capital portfolio are reported in disposals and other non-operating items in the income statement. All items recognised in the income statement relating to investments, other than investments in joint arrangements and associates, are reported as disposals and other non-operating items. Venture capital investments and equity investments represent interests in unlisted securities. The fair value of unlisted securities is based on management’s estimate of fair value based on standard valuation techniques, including market comparisons and discounts of future cash flows, having regard to maximising the use of observable inputs and adjusting for risk. Advice from valuation experts is used as appropriate. |
Investments in joint ventures and associates, accounting policy | All joint arrangements are classified as joint ventures because the Group shares joint control and has rights to the net assets of the arrangements. Investments in joint ventures and associates are accounted for under the equity method and stated in the statement of financial position at cost as adjusted for post-acquisition changes in the Group’s share of net assets, less any impairment in value. . |
Property, plant and equipment accounting policy | Accounting policy Property, plant and equipment are stated in the statement of financial position at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds are depreciated over their estimated useful lives up to a maximum of 50 years. Short leases are written off over the duration of the lease. Depreciation is provided on other assets on a straight-line basis over their estimated useful lives as follows: – land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years; – fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years. |
Trade and other payables accounting policy | Accounting policy Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered. |
Provisions accounting policy | Accounting policy Provisions are recognised when a present obligation exists as a result of a past event, the obligation is reasonably estimable, and it is probable that settlement will be required. Provisions are measured at the best estimate of the expenditure required to settle the obligation at the statement of financial position date. |
Shares held in treasury accounting policy | Accounting policy Shares of RELX PLC that are repurchased by the respective company and not cancelled are classified as shares held in treasury. The consideration paid, including directly attributable costs, is recognised as a deduction from equity. Shares of RELX PLC that are purchased by the Employee Benefit Trust are also classified as shares held in treasury, with the cost recognised as a deduction from equity. |
Basis of preparation and acco_3
Basis of preparation and accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Significant Accounting Policies [Abstract] | |
Summary of Expected Impact on the Income Statement and Statement of Financial Position | The impact of the adoption of these standards on the full year 2017 results is as follows: 2016 as reported £m IFRS 9 impact £m IFRS 15 impact £m IFRS 16 impact £m 2016 as restated £m Income statement Revenue 6,895 – (6 ) – 6,889 Reported operating profit 1,708 – (6 ) 6 1,708 Net finance costs (195 ) (2 ) – (16 ) (213 ) Reported net profit attributable to RELX PLC shareholders 1,161 (2 ) (4 ) (5 ) 1,150 Reported EPS 56.3p (0.1p) (0.2p) (0.2p) 55.8p Statement of financial position Right of use assets 20 – – 306 326 Borrowings (including lease liability) (4,843 ) 17 – (430 ) (5,256 ) Finance lease receivable – – – 63 63 Deferred income (1,941 ) – (67 ) – (2,008 ) 2017 as reported £m IFRS 9 impact £m IFRS 15 impact £m IFRS 16 impact £m 2017 as restated £m Income statement Revenue 7,355 – (14 ) – 7,341 Adjusted operating profit 2,284 – (11 ) 11 2,284 Reported operating profit 1,905 – (11 ) 11 1,905 Net finance costs (182 ) (2 ) – (15 ) (199 ) Adjusted net profit attributable to RELX PLC shareholders 1,635 (2 ) (9 ) (4 ) 1,620 Reported net profit attributable to RELX PLC shareholders 1,659 (2 ) (9 ) – 1,648 Adjusted EPS 81.0p (0.1p) (0.5p) (0.2p) 80.2p Reported EPS 82.2p (0.1p) (0.5p) – 81.6p Statement of financial position Right of use asset 16 – – 271 287 Borrowings (including lease liability) (4,886 ) 14 – (381 ) (5,253 ) Finance lease receivable – – – 57 57 Deferred income (1,834 ) – (76 ) – (1,910 ) |
Segment analysis (Tables)
Segment analysis (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Summary of Analysis by Business Segment | ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2018 £m Restated 2017 £m Restated 2016 £m 2018 £m Restated 2017 £m Restated 2016 £m Scientific, Technical & Medical 2,538 2,473 2,318 942 914 854 Risk & Business Analytics 2,117 2,073 1,905 776 760 685 Legal 1,618 1,686 1,619 320 328 312 Exhibitions 1,219 1,109 1,047 313 287 271 Sub-total 7,492 7,341 6,889 2,351 2,289 2,122 Unallocated items - - - (5 ) (5 ) (8 ) Total 7,492 7,341 6,889 2,346 2,284 2,114 |
Summary of Analysis of Revenue by Geographical Origin | ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2018 £m Restated 2017 £m Restated 2016 £m North America 4,013 3,998 3,697 Europe 2,790 2,644 2,568 Rest of world 689 699 624 Total 7,492 7,341 6,889 Revenue by geographical origin from the United Kingdom in 2018 was £1,144m (2017: £1,085m; 2016: £1,048m). |
Summary of Classification of Revenue | 2018 Scientific, Technical and Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,118 1,669 1,083 221 4,091 Europe 611 322 340 535 1,808 Rest of World 809 126 195 463 1,593 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by format Electronic 2,094 2,030 1,338 51 5,513 Face-to-face 7 36 10 1,168 1,221 437 51 270 – 758 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by type Subscriptions 1,877 765 1,247 – 3,889 Transactional 615 1,322 365 1,219 3,521 Advertising 46 30 6 – 82 Total revenue 2,538 2,117 1,618 1,219 7,492 Revenue by geographical market from the United Kingdom in 2018 was £527m (2017: £521m; 2016: £502m). 2017 Scientific, Technical and Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 1,045 1,658 1,145 230 4,078 Europe 617 308 340 429 1,694 Rest of World 811 107 201 450 1,569 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by format Electronic 1,995 1,967 1,384 42 5,388 Face-to-face 10 38 7 1,067 1,122 468 68 295 - 831 Total revenue 2,473 2,073 1,686 1,109 7,341 Revenue by type Subscriptions 1,776 732 1,291 1 3,800 Transactional 646 1,301 389 1,108 3,444 Advertising 51 40 6 – 97 Total revenue 2,473 2,073 1,686 1,109 7,341 2016 Scientific, Technical and Medical Risk & Business Analytics Legal Exhibitions Total Revenue by geographical market North America 960 1,499 1,106 210 3,775 Europe 605 322 330 454 1,711 Rest of World 753 84 183 383 1,403 Total revenue 2,318 1,905 1,619 1,047 6,889 Revenue by format Electronic 1,834 1,758 1,321 35 4,948 Face-to-face 10 37 7 1,012 1,066 474 110 291 - 875 Total revenue 2,318 1,905 1,619 1,047 6,889 Revenue by type Subscriptions 1,628 684 1,299 1 3,612 Transactional 631 1,172 314 1,046 3,163 Advertising 59 49 6 – 114 Total revenue 2,318 1,905 1,619 1,047 6,889 |
Summary of Analysis by Business Segment Expenditure | ANALYSIS BY BUSINESS SEGMENT Expenditure on acquired goodwill and Capital expenditure Amortisation of acquired Depreciation and other intangible assets additions intangible assets amortisation 2018 £m 2017 £m 2016 £m 2018 £m 2017 £m 2016 £m 2018 £m 2017 £m 2016 £m 2018 £m Restated 2017 £m Restated 2016 £m Scientific, Technical & Medical 106 94 19 100 95 85 56 77 88 109 100 100 Risk & Business Analytics 852 - 288 92 83 67 161 141 147 76 64 56 Legal 30 6 83 145 153 154 33 52 73 147 142 135 Exhibitions 61 33 21 28 24 26 36 44 38 35 37 34 Total 1,049 133 411 365 355 332 288 314 346 364 343 325 |
Summary of Analysis of Non-current Assets by Geographical Location | ANALYSIS OF NON-CURRENT ASSETS BY GEOGRAPHICAL LOCATION 2018 £m Restated 2017 £m Restated 2016 £m North America 8,692 7,408 8,307 Europe 1,996 2,016 1,987 Rest of world 461 459 489 Total 11,149 9,883 10,783 |
Summary of Reconciliation of Operating Profit to Adjusted Operating Profit | RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2018 £m Restated 2017 £m Restated 2016 £m Operating profit 1,964 1,905 1,708 Adjustments: Amortisation of acquired intangible assets 288 314 346 Acquisition-related costs 84 56 51 Reclassification of tax in joint ventures 11 10 10 Reclassification of finance income in joint ventures (1 ) (1 ) (1 ) Adjusted operating profit 2,346 2,284 2,114 |
Operating profit (Tables)
Operating profit (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Operating Profit [Abstract] | |
Disclosure of Detailed Information About Operating Profit | Operating profit is stated after charging/(crediting) the following: Note 2018 £m Restated 2017 £m Restated 2016 £m Staff costs Wages and salaries 1,959 1,926 1,767 Social security costs 215 213 198 Pensions 6 135 95 111 Share based remuneration 41 39 38 Total staff costs 2,350 2,273 2,114 Depreciation and amortisation Amortisation of acquired intangible assets 15 287 313 342 Share of joint ventures’ amortisation of acquired intangible assets 1 1 4 Amortisation of internally developed intangible assets 15 225 203 189 Depreciation of property, plant and equipment 17 62 65 62 Depreciation of right of use asset 77 75 74 Total depreciation and amortisation 652 657 671 Other expenses and income Cost of sales including pre-publication costs and inventory expenses 2,638 2,628 2,488 Operating lease rentals expense 18 28 35 Operating lease rentals income (3 ) (3 ) (6 ) |
Auditor's remuneration (Tables)
Auditor's remuneration (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Auditors Remuneration [Abstract] | |
Disclosure of Detailed Information About Auditors' Remuneration | 2018 £m 2017 £m 2016 £m Auditors’ remuneration Payable to the auditors of RELX PLC 0.9 0.9 0.9 Payable to the auditors of the Group’s subsidiaries 5.9 5.9 5.3 Audit services 6.8 6.8 6.2 Audit-related assurance services 0.9 0.8 0.6 Total audit and audit related assurance services 7.7 7.6 6.8 Tax services 0 – 0.4 Other services: Consulting 0 – 0.1 Other services: Due diligence and other transaction-related services 2.7 0.3 0.4 Total non-audit related services 2.7 0.3 0.9 Total auditors’ remuneration 10.4 7.9 7.7 Amounts payable to the auditors of the Group’s subsidiaries include amounts for the audit of internal controls over financial reporting in accordance with the US Sarbanes-Oxley Act. Included in audit related assurance services for 2018 are £0.1m in fees for services relating to RELX pension plans (2017: £0.1m). The amounts payable in 2017 and 2016 to the auditors of RELX PLC also reflect amounts payable to the auditors of RELX NV. The previously reported 2017 fees paid to EY for audit services have been revised to include additional amounts for expenses incurred and final fees for statutory audits which took place subsequent to the audit of the RELX consolidated accounts. |
Personnel (Tables)
Personnel (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Employees [Abstract] | |
Disclosure of Detailed Information About Number of People Employed | NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2018 2017 2016 2018 2017 2016 Business segment Scientific, Technical & Medical 7,900 7,500 7,500 7,700 7,500 7,300 Risk & Business Analytics 8,700 8,100 8,200 8,600 8,200 7,900 Legal 10,500 10,600 10,700 10,600 10,700 10,600 Exhibitions 4,200 4,000 4,000 4,100 4,000 3,900 Sub-total 31,300 30,200 30,400 31,000 30,400 29,700 Corporate/shared functions 800 800 800 800 800 900 Total 32,100 31,000 31,200 31,800 31,200 30,600 Geographical location North America 13,800 13,500 13,700 13,700 13,600 13,500 United Kingdom 5,200 5,000 4,900 5,100 5,000 4,800 The Netherlands 1,200 1,300 1,400 1,300 1,400 1,500 Rest of Europe 2,800 2,800 2,800 2,800 2,800 2,800 Rest of world 9,100 8,400 8,400 8,900 8,400 8,000 Total 32,100 31,000 31,200 31,800 31,200 30,600 |
Pension schemes (Tables)
Pension schemes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Defined Benefit Plans [Abstract] | |
Schedule of Defined Benefit and Defined Contribution Schemes | The pension expense in total, including amounts in relation to the UK and US defined benefit schemes, and defined contribution schemes, recognised within the income statement consists of: 2018 £m 2017 £m 2016 £m Defined benefit pension expense (net of settlement and past service credits in 2018) 47 4 36 Defined contribution pension expense 95 91 75 Total 142 95 111 |
Schedule of Defined Benefit Pension Schemes | £135m (2017: £95m; 2016: £111m) of the total pension cost is recognised within operating profit. In 2018 a past service cost was recognised to account for the impact of GMP equalisation in the UK. In 2017 settlement and past service credits primarily relate to changes to the UK scheme. The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: 2018 2017 2016 UK £m US £m Total £m UK £m US £m Total £m UK £m US £m Total £m Service cost 27 9 36 33 14 47 27 14 41 Settlement and past service credits 11 – 11 (42 ) (1 ) (43 ) – (5 ) (5 ) Defined benefit pension expense 38 9 47 (9 ) 13 4 27 9 36 Net interest on net defined benefit obligation 6 3 9 10 5 15 9 5 14 Net defined benefit pension expense 44 12 56 1 18 19 36 14 50 |
Summary of Defined Benefit Pension Expense | The significant valuation assumptions, determined for each major scheme in conjunction with the respective independent actuaries, are presented below. The net defined benefit pension expense for each year is based on the assumptions and scheme valuations set at 31 December of the prior year. AS AT 31 DECEMBER 2018 2017 2016 UK US UK US UK US Discount rate 2.85 % 4.20 % 2.60 % 3.55 % 2.65 % 4.00 % Inflation 3.15 % 2.50 % 3.15 % 2.50 % 3.25 % 2.50 % |
Summary of Average Life Expectancy Assumptions | Mortality assumptions make allowance for future improvements in longevity and have been determined by reference to applicable mortality statistics. The average life expectancy assumptions are set out below: AS AT 31 DECEMBER 2018 Male average life expectancy Female average life expectancy UK US UK US Member currently aged 60 years 85 86 88 88 Member currently aged 45 years 87 87 90 89 |
Amounts Recognised in the Statement of Financial Position in Respect of Defined Benefit Pension Schemes | The amount recognised in the statement of financial position in respect of defined benefit pension schemes at the start and end of the year and the movements during the year were as follows: 2018 2017 UK £m US £m Total £m UK £m US £m Total £m Defined benefit obligation At start of year (3,854 ) (1,075 ) (4,929 ) (3,883 ) (1,120 ) (5,003 ) Service cost (27 ) (9 ) (36 ) (33 ) (14 ) (47 ) Past service credits (11 ) – (11 ) 42 1 43 Interest on pension scheme liabilities (98 ) (38 ) (136 ) (101 ) (42 ) (143 ) Actuarial gain/(loss) on financial assumptions 91 85 176 45 (61 ) (16 ) Actuarial gain/(loss) arising from experience assumptions 4 2 6 (39 ) 1 (38 ) Contributions by employees (8 ) – (8 ) (8 ) – (8 ) Benefits paid 131 56 187 123 60 183 Exchange translation differences – (61 ) (61 ) – 100 100 At end of year (3,772 ) (1,040 ) (4,812 ) (3,854 ) (1,075 ) (4,929 ) Fair value of scheme assets At start of year 3,589 1,012 4,601 3,390 977 4,367 Interest income on plan assets 92 35 127 91 37 128 Return on assets excluding amounts included in interest income (184 ) (89 ) (273 ) 181 106 287 Contributions by employer 39 7 46 42 43 85 Contributions by employees 8 – 8 8 – 8 Benefits paid (131 ) (56 ) (187 ) (123 ) (60 ) (183 ) Exchange translation differences – 57 57 – (91 ) (91 ) At end of year 3,413 966 4,379 3,589 1,012 4,601 Opening net deficit (265 ) (63 ) (328 ) (493 ) (143 ) (636 ) Service cost (27 ) (9 ) (36 ) (33 ) (14 ) (47 ) Net interest on net defined benefit obligation (6 ) (3 ) (9 ) (10 ) (5 ) (15 ) Settlement and past service credits (11 ) – (11 ) 42 1 43 Contributions by employer 39 7 46 42 43 85 Actuarial (losses)/gains (89 ) (2 ) (91 ) 187 46 233 Exchange translation differences – (4 ) (4 ) – 9 9 Overall net pension obligation (359 ) (74 ) (433 ) (265 ) (63 ) (328 ) |
Summary of Net Pension Obligations and Net Pension Assets | A net pension asset has been recognised in relation to the US funded scheme after considering the guidance in IAS 19 Employee Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2018 £m 2017 £m Net pension asset 6 22 Net pension obligation (439 ) (350 ) Overall net pension obligation (433 ) (328 ) |
Amounts Recognised in Statement of Comprehensive Income | Amounts recognised in the statement of comprehensive income are set out below: 2018 £m 2017 £m 2016 £m Gains and losses arising during the year: Experience gains/(losses) on scheme liabilities 6 (38 ) 25 Experience (losses)/gains on scheme assets (273 ) 287 548 Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates 242 (102 ) (873 ) – inflation - 69 (96 ) – other actuarial assumptions (66 ) 17 134 (91 ) 233 (262 ) Net cumulative losses at start of year (613 ) (846 ) (584 ) Net cumulative losses at end of year (704 ) (613 ) (846 ) |
Summary of Fair Value of Scheme Assets | The major categories and fair values of scheme assets at the end of the reporting period are as follows: FAIR VALUE OF SCHEME ASSETS 2018 2017 UK £m US £m Total £m UK £m US £m Total £m Equities 1,128 115 1,243 1,252 143 1,395 Government bonds 1,224 224 1,448 1,395 221 1,616 Corporate bonds – 607 607 – 622 622 Property funds and ground leases 723 – 723 620 – 620 Structured debt and direct lending 290 – 290 253 – 253 Cash and cash equivalents 26 4 30 46 18 64 Other 22 16 38 23 8 31 Total 3,413 966 4,379 3,589 1,012 4,601 |
Sensitivity Analysis of Actuarial Assumptions | In particular, changes in assumptions for discount rates, inflation and life expectancies that are reasonably possible would have the following approximate effects on the defined benefit pension obligations: £m Increase/decrease of 0.25% in discount rate: 207 Increase/decrease of 0.25% in the expected inflation rate: 94 Increase/decrease of one year in assumed life expectancy: 177 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Net Finance Costs [Abstract] | |
Summary of Net Finance Costs | 2018 £m Restated 2017 £m Restated 2016 £m Interest on short-term bank loans, overdrafts and commercial paper (22 ) (10 ) (15 ) Interest on term debt (161 ) (154 ) (161 ) Interest on lease liabilities (14 ) (17 ) (18 ) Total borrowing costs (197 ) (181 ) (194 ) Losses on loans and derivatives not designated as hedges (10 ) (9 ) (15 ) Fair value losses on designated fair value hedge relationships (1 ) – – Net financing charge on defined benefit pension schemes (9 ) (15 ) (14 ) Finance costs (217 ) (205 ) (223 ) Interest on bank deposits 4 3 6 Interest income on net finance lease receivables 2 2 2 Fair value gains on designated fair value hedge relationships – 1 – Gains on loans and derivatives not designated as hedges – – 2 Finance income 6 6 10 Net finance costs (211 ) (199 ) (213 ) |
Disposals and other non-opera_2
Disposals and other non-operating items (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |
Summary of Disposals and Other Non-operating Items | 2018 £m Restated 2017 £m Restated 2016 £m Revaluation of investments (11 ) 5 (13 ) (Loss)/Gain on disposal of businesses and assets held for sale (22 ) 10 (23 ) Net (loss)/gain on disposals and other non-operating items (33 ) 15 (36 ) |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Major Components Of Tax Expense Income [Abstract] | |
Summary of Tax Expense | 2018 £m Restated 2017 £m Restated 2016 £m Current tax United Kingdom (71 ) (104 ) (80 ) The Netherlands (72 ) (77 ) (51 ) Rest of world (154 ) (258 ) (243 ) Total current tax charge (297 ) (439 ) (374 ) Deferred tax 5 374 73 Tax expense (292 ) (65 ) (301 ) |
Weighted Average of Tax Rates Applicable to Accounting Profits and Losses | The net tax expense charged on profit before tax differs from the theoretical amount that would arise using the weighted average of tax rates applicable to accounting profits and losses of the consolidated entities, as follows: 2018 Restated 2017 Restated 2016 £m % £m % £m % Profit before tax 1,720 1,721 1,459 Tax at average applicable rates (342 ) 19.9 % (389 ) 22.6 % (326 ) 22.4 % Tax effect of share of results of joint ventures 8 (0.5 )% 7 (0.4 )% 7 (0.5 )% Expenses not deductible for tax purposes (24 ) 1.4 % (15 ) 0.9 % (19 ) 1.3 % US state taxes (19 ) 1.1 % (18 ) 1.0 % (13 ) 0.9 % Non-deductible costs of share based remuneration (1 ) 0.1 % (1 ) 0.1 % (1 ) 0.1 % Non-deductible disposal-related gains and losses – 0.0 % (36 ) 2.1 % (8 ) 0.5 % Deferred tax assets of the period not recognised (24 ) 1.4 % (10 ) 0.6 % (2 ) 0.1 % Change in recognition of deferred tax assets or liabilities (15 ) 0.9 % 16 (0.9 )% 33 (2.3 )% Other adjustments in respect of prior periods 13 (0.8 )% 35 (2.1 )% 28 (1.9 )% Exceptional tax credit 112 (6.5 )% 346 (20.1 )% – 0.0 % Tax expense (292 ) 17.0 % (65 ) 3.8 % (301 ) 20.6 % |
Tax Recognised in Other Comprehensive Income or Directly in Equity | The following tax has been recognised in other comprehensive income or directly in equity during the year: 2018 £m 2017 £m 2016 £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes 15 (59 ) 45 Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges 9 (30 ) 19 Net tax (debit)/credit recognised in other comprehensive income 24 (89 ) 64 Tax credit on share based remuneration recognised directly in equity (3 ) 8 10 |
Summary of Deferred Tax Liabilities and Assets | 2018 £m Restated 2017 £m Deferred tax assets 455 431 Deferred tax liabilities (830 ) (738 ) Total (375 ) (307 ) |
Movements in Deferred Tax Liabilities and Assets | Movements in deferred tax liabilities and assets (before taking into consideration the offsetting of balances within the same jurisdiction) are summarised as follows: Deferred tax liabilities Deferred tax assets Excess of tax allowances over amortisation £m Acquired intangible assets £m Other temporary differences £m Excess of amortisation over tax allowances £m Tax losses carried forward £m Pension balances £m Other temporary differences £m Total £m Deferred tax (liability)/asset at 1 January 2017 (restated) (393 ) (767 ) (338 ) 263 70 145 352 (668 ) Credit/(charge) to profit 97 298 2 (15 ) 22 – (30 ) 374 (Charge)/credit to equity/other comprehensive income – – 7 – – (76 ) (20 ) (89 ) Acquisitions – (2 ) – – – – – (2 ) Exchange translation differences 29 45 27 9 (5 ) (3 ) (24 ) 78 Deferred tax (liability)/asset at 1 January 2018 (restated) (267 ) (426 ) (302 ) 257 87 66 278 (307 ) Credit/(charge) to profit 75 13 13 (51 ) (32 ) 3 (16 ) 5 (Charge)/credit to equity/other comprehensive income – – – – – 15 (3 ) 12 Acquisitions – (88 ) – – 37 – – (51 ) Exchange translation differences (12 ) (26 ) (17 ) 1 4 2 14 (34 ) Deferred tax (liability)/asset at 31 December 2018 (204 ) (527 ) (306 ) 207 96 86 273 (375 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Share | EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2018 Restated 2017 Restated 2016 Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) EPS (pence) Basic earnings per share 1,422 1,977.2 71.9p 1,648 2,019.4 81.6p 1,150 2,062.3 55.8p Diluted earnings per share 1,422 1,990.8 71.4p 1,648 2,035.2 81.0p 1,150 2,079.8 55.3p The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. Since 2016, earnings per share has been calculated by taking the total Group net profit attributable to shareholders, and dividing this by the total weighted average number of shares in issue. As the corporate simplification was done on the basis of a 1:1 share exchange, this has not impacted the calculation of earnings per share in 2018, or the comparatives presented. |
Summary of Adjusted Earnings Per Share | ADJUSTED EARNINGS PER SHARE 2018 Restated 2017 Restated 2016 Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted net profit attributable to RELX PLC shareholders £m Weighted average number of shares (millions) Adjusted EPS (pence) Adjusted earnings per share 1,674 1,977.2 84.7p 1,620 2,019.4 80.2p 1,473 2,062.3 71.4p |
Summary of Reconciliation of Adjusted Net Profit Attributable to Parent | RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC SHAREHOLDERS 2018 £m Restated 2017 £m Restated 2016 £m Net profit attributable to RELX PLC shareholders 1,422 1,648 1,150 Adjustments (post-tax): Amortisation of acquired intangible assets 322 356 364 Acquisition-related costs 71 43 38 Net financing charge on defined benefit pension schemes 7 11 10 Disposals and other non-operating items 19 1 2 Other deferred tax credits from intangible assets* (55 ) (93 ) (91 ) Exceptional tax credit (112 ) (346 ) - Adjusted net profit attributable to RELX PLC shareholders 1,674 1,620 1,473 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. |
Statement of cash flows (Tables
Statement of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Schedule of Reconciliation of Profit Before Tax to Cash Generated from Operations | RECONCILIATION OF PROFIT BEFORE TAX TO CASH GENERATED FROM OPERATIONS 2018 £m Restated 2017 £m Restated 2016 £m Profit before tax 1,720 1,721 1,459 Disposals and other non-operating items 33 (15 ) 36 Net finance costs 211 199 213 Operating profit 1,964 1,905 1,708 Share of results of joint ventures (32 ) (37 ) (37 ) Amortisation of acquired intangible assets 287 313 342 Amortisation of internally developed intangible assets 225 203 189 Depreciation of property, plant and equipment 62 65 62 Depreciation of right of use asset 77 75 74 Share based remuneration 41 39 38 Total non-cash items 692 695 705 Decrease/(increase) in inventories and pre-publication costs (7 ) 2 (24 ) Decrease/(increase) in receivables (89 ) 37 (145 ) (Decrease)/increase in payables 27 (76 ) 104 Increase in working capital (69 ) (37 ) (65 ) Cash generated from operations 2,555 2,526 2,311 |
Schedule of Cash Flow on Acquisitions | CASH FLOW ON ACQUISITIONS Note 2018 £m 2017 £m 2016 £m Purchase of businesses 12 (919 ) (117 ) (336 ) Investment in joint ventures - (1 ) (1 ) Deferred payments relating to prior year acquisitions (16 ) (13 ) (24 ) Total (935 ) (131 ) (361 ) |
Schedule of Reconciliation of Net Borrowings | RECONCILIATION OF NET BORROWINGS Cash and cash equivalents £m Borrowings £m Related derivative financial instruments £m Finance lease receivable £m 2018 £m Restated 2017 £m Restated 2016 £m At start of year 111 (5,253 ) 43 57 (5,042 ) (5,050 ) (4,095 ) (Decrease)/increase in cash and cash equivalents 1 – – – 1 (45 ) 9 Decrease/(increase) in short-term bank loans, overdrafts and commercial paper – (147 ) – – (147 ) 148 (271 ) Issuance of term debt – (958 ) – – (958 ) (873 ) (603 ) Repayment of term debt – 211 – – 211 712 474 Repayment of finance leases – 95 – (14 ) 81 78 74 Change in net borrowings resulting from cash flows 1 (799 ) – (14 ) (812 ) 20 (317 ) Borrowings in acquired businesses – (12 ) – – (12 ) - - Remeasurement and derecognition of leases – (12 ) – – (12 ) (6 ) (14 ) Inception of leases – (31 ) – 3 (28 ) (36 ) (49 ) Fair value and other adjustments to borrowings and related derivatives – (7 ) (18 ) – (25 ) (11 ) (24 ) Exchange translation differences 2 (251 ) – 3 (246 ) 41 (551 ) At end of year 114 (6,365 ) 25 49 (6,177 ) (5,042 ) (5,050 ) |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Business Combinations [Abstract] | |
Summary of Consideration Paid for Acquiring Assets and Liabilities | Provisional fair values of the consideration given and of the assets and liabilities acquired are summarised below: Fair value 2018 £m Fair value 2017 £m Fair value 2016 £m Goodwill 626 77 222 Intangible assets 423 56 189 Property, plant and equipment 5 – 1 Current assets 24 3 12 Non current assets 12 – – Current liabilities (72 ) (16 ) (20 ) Borrowings (12 ) – – Deferred tax (51 ) (2 ) (35 ) Net assets acquired 955 118 369 Consideration (after taking account of £27m (2017: £7m; 2016: £10m) net cash acquired) 955 118 369 Less: consideration deferred to future years (36 ) (1 ) (15 ) Less: acquisition date fair value of equity interest – – (18 ) Net cash flow 919 117 336 |
Equity dividends (Tables)
Equity dividends (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Reconciliation Of Number Of Shares Outstanding [Abstract] | |
Summary of Ordinary Dividends Paid | ORDINARY DIVIDENDS PAID IN THE YEAR 2018 £m 2017 £m 2016 £m RELX PLC 420 400 356 RELX NV 376 362 327 Total 796 762 683 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract] | |
Disclosure Of Reconciliation Of Changes In Goodwill | A description of the key assumptions and sensitivities is provided below. 2018 £m 2017 £m At start of year 5,965 6,392 Acquisitions 626 77 Disposals/reclassified as held for sale (25 ) (72 ) Transfers - 11 Exchange translation differences 333 (443 ) At end of year 6,899 5,965 |
Summary of Goodwill by Segment | GOODWILL 2018 £m 2017 £m Scientific, Technical & Medical 1,620 1,479 Risk & Business Analytics 3,283 2,595 Legal 1,465 1,390 Exhibitions 531 501 Total 6,899 5,965 |
Key Assumptions Used for Each Group of Cash Generating Units | The key assumptions used for each group of cash generating units are disclosed below: KEY ASSUMPTIONS 2018 2017 Pre-tax discount rate Nominal long-term market growth rate Pre-tax discount rate Nominal long-term market growth rate Scientific, Technical & Medical 10.0 % 3 % 10.1 % 3 % Risk & Business Analytics 11.5 % 3 % 12.3 % 3 % Legal 12.2 % 2 % 12.7 % 2 % Exhibitions 12.7 % 3 % 12.6 % 3 % |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Intangible Assets [Abstract] | |
Summary of Intangible Assets | Market and customer- related £m Content, software and other £m Total acquired intangible assets £m Internally developed intangible assets £m Total £m Cost At 1 January 2017 3,872 3,679 7,551 2,550 10,101 Acquisitions 32 24 56 – 56 Additions – – – 304 304 Disposals/reclassified as held for sale (26 ) (76 ) (102 ) (42 ) (144 ) Transfers (50 ) 27 (23 ) – (23 ) Exchange translation differences (309 ) (162 ) (471 ) (121 ) (592 ) At 1 January 2018 3,519 3,492 7,011 2,691 9,702 Acquisitions 310 113 423 — 423 Additions – – – 304 304 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (148 ) (174 ) Exchange translation differences 211 130 341 99 440 At 31 December 2018 4,025 3,724 7,749 2,946 10,695 Accumulated amortisation At 1 January 2017 1,893 3,139 5,032 1,465 6,497 Charge for the year 188 125 313 203 516 Disposals/reclassified as held for sale (16 ) (72 ) (88 ) (43 ) (131 ) Exchange translation differences (158 ) (146 ) (304 ) (70 ) (374 ) At 1 January 2018 1,907 3,046 4,953 1,555 6,508 Charge for the year 169 118 287 225 512 Disposals/reclassified as held for sale (15 ) (11 ) (26 ) (111 ) (137 ) Exchange translation differences 105 113 218 60 278 At 31 December 2018 2,166 3,266 5,432 1,729 7,161 Net book amount At 31 December 2017 1,612 446 2,058 1,136 3,194 At 31 December 2018 1,859 458 2,317 1,217 3,534 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Investments [Abstract] | |
Summary of Investments | 2018 £m 2017 £m Investments in joint ventures 104 102 Available for sale investments - 2 Venture capital investments 151 139 Total 255 243 |
Summary of Analysis of Changes in Carrying Value of Investments in Joint Ventures | An analysis of changes in the carrying value of investments in joint ventures is set out below: 2018 £m 2017 £m At start of year 102 102 Share of results of joint ventures 32 37 Dividends received from joint ventures (30 ) (38 ) Additions 2 2 Exchange translation differences (2 ) (1 ) At end of year 104 102 |
Summary of Group's Share of Joint Ventures | Summarised aggregate information in respect of the Group’s share of joint ventures is set out below: RELX’s share 2018 £m 2017 £m Revenue 101 101 Net profit for the year 32 37 Total assets 96 85 Total liabilities (49 ) (42 ) Net assets 47 43 Goodwill 57 59 Total 104 102 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Property, Plant and Equipment | 2018 2017 Land and buildings £m Fixtures and equipment £m Total £m Land and buildings £m Fixtures and equipment £m Total £m Cost At start of year 217 599 816 231 630 861 Acquisitions – 5 5 - - - Capital expenditure 5 51 56 5 46 51 Disposals/reclassified as held for sale (8 ) (40 ) (48 ) (3 ) (40 ) (43 ) Exchange translation differences 9 25 34 (16 ) (37 ) (53 ) At end of year 223 640 863 217 599 816 Accumulated depreciation At start of year 137 485 622 139 499 638 Charge for the year 9 53 62 9 56 65 Disposals/reclassified as held for sale (6 ) (40 ) (46 ) (1 ) (39 ) (40 ) Exchange translation differences 6 21 27 (10 ) (31 ) (41 ) At end of year 146 519 665 137 485 622 Net book amount 77 121 198 80 114 194 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Summary of Remaining Contractual Maturities for Borrowings and Derivative Financial Instruments | The table shows undiscounted principal and interest cash flows and includes contractual gross cash flows to be exchanged as part of cross-currency interest rate swaps and forward foreign exchange contracts where there is a legal right of set-off. AT 31 DECEMBER 2018 Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (5,315 ) (752 ) (610 ) (552 ) (879 ) (732 ) (2,555 ) (6,080 ) Floating rate borrowings (690 ) (686 ) – – – – (4 ) (690 ) Lease liabilities (360 ) (104 ) (92 ) (75 ) (47 ) (30 ) (63 ) (411 ) Derivative financial liabilities Interest rate derivatives (15 ) (2 ) (2 ) (2 ) (2 ) (3 ) (8 ) (19 ) Cross-currency interest rate swaps (1 ) (48 ) (21 ) (21 ) (21 ) (39 ) (557 ) (707 ) Forward foreign exchange contracts (53 ) (1,498 ) (375 ) (181 ) (25 ) – – (2,079 ) Derivative financial assets Interest rate derivatives 21 12 13 3 1 5 3 37 Cross-currency interest rate swaps 13 33 8 8 8 25 553 635 Forward foreign exchange contracts 13 1,473 361 173 26 – – 2,033 Total (6,387 ) (1,572 ) (718 ) (647 ) (939 ) (774 ) (2,631 ) (7,281 ) AT 31 DECEMBER 2017 RESTATED Contractual cash flow Carrying amount £m Within 1 year £m 1-2 years £m 2-3 years £m 3-4 years £m 4-5 years £m More than 5 years £m Total £m Borrowings Fixed rate borrowings (4,393 ) (331 ) (703 ) (575 ) (518 ) (805 ) (2,198 ) (5,130 ) Floating rate borrowings (469 ) (464 ) – – – – (5 ) (469 ) Lease liabilities (391 ) (100 ) (91 ) (79 ) (64 ) (34 ) (82 ) (450 ) Derivative financial liabilities (13 ) (1 ) (1 ) (2 ) (2 ) (4 ) (8 ) (18 ) Interest rate derivatives (2 ) (258 ) (17 ) (18 ) (18 ) (18 ) (541 ) (870 ) Cross-currency interest rate swaps (42 ) (2,148 ) (418 ) (188 ) (41 ) – – (2,795 ) Forward foreign exchange contracts Derivative financial assets Interest rate derivatives 20 13 11 10 1 – – 35 Cross-currency interest rate swaps 42 246 7 7 7 7 554 828 Forward foreign exchange contracts 53 2,139 422 193 42 – – 2,796 Total (5,195 ) (904 ) (790 ) (652 ) (593 ) (854 ) (2,280 ) (6,073 ) |
Summary of Cash Flow Hedges | The table below details the designated fair value hedge relationships that were in place at 31 December 2018, swapping fixed rate term debt issues denominated in US dollars (USD) and euros to floating rate USD and euro debt respectively for the whole or part of their term, together with the related fixed and floating rates. FAIR VALUE HEDGE RELATIONSHIPS 31 December 2018 Principal amount £m 31 December 2017 Principal amount £m Fixed Rate Floating Rate €550m loan notes and €550m interest rate swaps maturing 2020 (494 ) (489 ) 2.5 % LIBOR+1.1% €500m bond and €500m interest rate swaps maturing 2021 (449 ) (444 ) 0.4 % LIBOR+0.3% $700m bond and $700m interest rate swaps maturing 2023 (549 ) 0 3.5 % LIBOR+0.8% €500m bond and €500m interest rate swaps maturing 2024 (449 ) (444 ) 1.0 % LIBOR+0.7% €600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 (525 ) (495 ) 1.3 % LIBOR+1.3% $200m bond and $200m interest rate swaps maturing 2027 (157 ) (148 ) 7.2 % LIBOR+5.8% (2,623 ) (2,020 ) |
Summary of Gains and Losses on the Borrowings and Related Derivatives Designated as Fair Value Hedges | The gains and losses on the borrowings and related derivatives designated as fair value hedges, which are included in the income statement as part of finance costs, together with the total carrying values of the borrowings and related derivatives included in the statement of financial position, for the three years ended 31 December 2018, 2017 and 2016 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2018 £m Fair value movement gain/(loss) £m Exchange gain/(loss) £m 31 December 2018 £m Carrying values £m USD debt 12 – 1 13 (701 ) Related interest rate swaps (12 ) (1 ) (1 ) (14 ) (14 ) – (1 ) – (1 ) (715 ) EUR debt (17 ) (21 ) (1 ) (39 ) (1,952 ) Related interest rate swaps 17 21 1 39 39 – – – – (1,913 ) Total relating to USD and EUR debt (5 ) (21 ) – (26 ) (2,653 ) Total related interest rate swaps 5 20 – 25 25 Net loss on borrowings and related derivatives/ total carrying value – (1 ) – (1 ) (2,628 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2017 £m Fair value movement gain/(loss) £m De-designated £m Exchange gain/(loss) £m 31 December 2017 £m Carrying values £m USD debt 16 (1 ) (2 ) (1 ) 12 (147 ) Related interest rate swaps (16 ) 1 2 1 (12 ) (12 ) – – – – – (159 ) EUR debt (33 ) 17 – (1 ) (17 ) (1,922 ) Related interest rate swaps 32 (16 ) – 1 17 17 (1 ) 1 – – – (1,905 ) Total relating to USD and EUR debt (17 ) 16 (2 ) (2 ) (5 ) (2,069 ) Total related interest rate swaps 16 (15 ) 2 2 5 5 Net (loss)/gain on borrowings and related derivatives/total carrying value (1 ) 1 – – – (2,064 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES AND CARRYING VALUES 1 January 2016 £m Fair value movement gain/(loss) £m De-designated £m Exchange gain/(loss) £m 31 December. 2016 £m Carrying values £m USD debt 2 13 – 1 16 (378 ) Related interest rate swaps (2 ) (13 ) – (1 ) (16 ) (16 ) – – – – – (403 ) GBP debt (14 ) – 14 – – – Related interest rate swaps 14 – (14 ) – – – – – – – – – EUR debt (9 ) (21 ) – (3 ) (33 ) (1,011 ) Related interest rate swaps 8 21 – 3 32 32 (1 ) – – – (1 ) (979 ) Total relating to USD, GBP and EUR debt (21 ) (8 ) 14 (2 ) (17 ) (1,398 ) Total related interest rate swaps 20 8 (14 ) 2 16 16 Net loss on borrowings and related derivatives/total carrying value (1 ) – – – (1 ) (1,382 ) |
Summary of Movements in the Hedge Reserve Including Gains and Losses on Cash Flow Hedging Instruments | Movements in the hedge reserve in 2017 and 2018 and, with effect from 1 January 2018, the cost of hedging reserve, including gains and losses on cash flow hedging instruments, were as follows: Interest rate hedge reserve £m Cost of hedging reserve £m Foreign currency hedge reserve £m Total £m Hedge reserve at 1January 2017: gains/(Losses) deferred 8 – (169 ) (161 ) Gains arising in 2017 63 – 74 137 Amounts recognised in income statement (65 ) – 90 25 Exchange translation differences (1 ) – (2 ) (3 ) Hedge reserve at 31 December 2017: gains/( losses) deferred 5 – (7 ) (2 ) Reclassification on 1 January 2018 (1 ) 1 – – Losses arising in 2018 – (8 ) (51 ) (59 ) Amounts recognised in income statement (3 ) – 20 17 Exchange translation differences – – – – Hedge reserve at 31 December 2018: gains/( losses) deferred 1 (7 ) (38 ) (44 ) |
Summary of Deferred Gains and Losses on Cash Flow Hedges Currently Expected to Recognised in Future Period | The deferred gains and losses on foreign currency cash flow hedges at 31 December 2018 are currently expected to be recognised in the income statement in future years as shown in the table below, together with the principal amount of hedges relating to each year and their total carrying values included within derivative assets and liabilities in the statement of financial position: Foreign currency hedge reserve £m Principal amount of hedges £m Carrying values £m 2019 (14 ) 481 (20 ) 2020 (13 ) 486 (13 ) 2021 (10 ) 228 (10 ) 2022 (1 ) 64 (1 ) Total (38 ) 1,259 (44 ) |
Inventories and pre-publicati_2
Inventories and pre-publication costs (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Information About Inventories Explanatory [Abstract] | |
Summary of Inventories and Pre-Publication Costs | 2018 £m 2017 £m Raw materials 2 2 Pre-publication costs 171 157 Finished goods 39 38 Total 212 197 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Trade And Other Receivables [Abstract] | |
Summary of Trade and Other Receivables | 2018 £m 2017 Restated £m Trade receivables 1,829 1,682 Loss allowance (87 ) (79 ) 1,742 1,603 Prepayments and accrued income 224 219 Net finance lease receivable 49 57 Total 2,015 1,873 |
Summary of Movements in Loss Allowance for Expected Credit Losses | Trade receivables are stated net of a loss allowance for expected credit losses. The movements in the loss allowance during the year were as follows: 2018 £m 2017 £m At start of year 79 56 Charge for the year 14 39 Trade receivables written off (8 ) (15 ) Exchange translation differences 2 (1 ) At end of year 87 79 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Trade And Other Payables [Abstract] | |
Summary of Trade and Other Payables | 2018 £m Restated 2017 £m Trade payables 187 240 Accruals 711 663 Social security and other taxes 127 114 Other payables 407 371 Deferred income 2,000 1,910 Total 3,432 3,298 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Borrowings By Type [Abstract] | |
Summary of types of Borrowings both Current and Non-current | 2018 Restated 2017 Falling due within 1 year £m Falling due in more than 1 year £m Total £m Falling due within 1 year £m Falling due in more than 1 year £m Total £m Financial liabilities measured at amortised cost: Short-term bank loans, overdrafts and commercial paper 686 – 686 464 - 464 Term debt 614 1,808 2,422 209 1,682 1,891 Lease liabilities 92 268 360 89 302 391 Term debt in fair value hedging relationships – 2,652 2,652 - 2,069 2,069 Term debt previously in fair value hedging relationships – 245 245 - 438 438 Total 1,392 4,973 6,365 762 4,491 5,253 |
Summary of Repayment Years for Borrowings | Analysis by year of repayment 2018 Restated 2017 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Within 1 year 686 614 92 1,392 464 209 89 762 Within 1 to 2 years – 508 87 595 - 593 85 678 Within 2 to 3 years – 451 70 521 - 508 74 582 Within 3 to 4 years – 688 42 730 - 444 58 502 Within 4 to 5 years – 669 27 696 - 630 28 658 After 5 years – 2,389 42 2,341 - 2,014 57 2,071 After 1 year – 4,705 268 4,973 - 4,189 302 4,491 Total 686 5,319 360 6,365 464 4,398 391 5,253 |
Analysis of Borrowings by Currency | Analysis by currency 2018 Restated 2017 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Lease liabilities £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m US dollars 19 2,493 177 2,689 103 2,044 187 2,334 £ sterling 314 300 66 683 262 299 69 630 Euro 318 2,526 85 2,929 76 2,055 97 2,228 Other currencies 32 – 32 64 23 - 38 61 Total 686 5,319 360 6,365 464 4,398 391 5,253 |
Lease arrangements (Tables)
Lease arrangements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | |
Summary of right of use assets | Right-of-use assets Property £m Non- property £m 2018 £m Property £m Non- property £m Restated 2017 £m At start of year 264 23 287 298 27 325 Additions 26 5 31 41 5 46 Acquisitions 7 5 12 – – – Remeasurement 13 – 13 8 – 8 Disposals (2 ) (8 ) (10 ) (8 ) 0 (8 ) Depreciation (68 ) (9 ) (77 ) (67 ) (8 ) (75 ) Exchange translation differences 6 1 7 (8 ) (1 ) (9 ) At end of year 246 17 263 264 23 287 |
Summary of lease liability | Lease liability 2018 £m Restated 2017 £m Current Property (83 ) (81 ) Non-property (9 ) (8 ) Non-current Property (260 ) (295 ) Non-property (8 ) (7 ) Total (360 ) (391 ) |
Summary of finance lease receivable | RELX subleases vacant space available within its leased properties. IFRS 16 specifies conditions whereby a sublease is classed as a finance lease for the sub-lessor. The finance lease receivable balance held is as follows: 2018 £m Restated 2017 £m Net finance lease receivable 49 57 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Provisions [Abstract] | |
Summary of Changes in Provisions | 2018 £m Restated 2017 £m At start of year 63 86 Utilised (14 ) (17 ) Exchange translation differences 2 (6 ) Total 51 63 |
Summary of Provisions Included Within Current and Non-current Liabilities | At 31 December 2018, provisions are included within current and non-current liabilities as follows: 2018 £m Restated 2017 £m Current liabilities 15 12 Non-current liabilities 36 51 Total 51 63 |
Share capital, share premium _2
Share capital, share premium and shares held in treasury (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Classes Of Share Capital [Abstract] | |
Summary of Share Capital | RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2018 £m No. of shares 2017 £m At start of year 1,123,682,106 162 1,144,122,623 165 Issue of ordinary shares 1,580,885 – 2,019,483 – Issue of ordinary shares in exchange for RELX NV shares 930,780,110 134 Cancellation of shares (45,000,000 ) (6 ) (22,460,000 ) (3 ) At end of year 2,011,043,101 290 1,123,682,106 162 RELX NV CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2018 €m No. of shares 2017 €m At start of year 999,961,098 70 1,019,893,404 71 Issue of ordinary shares 888,128 2,067,694 – Cancellation of shares — (22,000,000 ) (1 ) Cancellation of ordinary shares on completion of the corporate simplification (930,780,110 ) (65 ) — – Cancellation of treasury shares on completion of the corporate simplification (70,069,116 ) (5 ) — – At end of year – – 999,961,098 70 NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2018 Shares in issue net of treasury shares (millions) 2017 Shares in issue net of treasury shares (millions) RELX PLC At start of year 1,123.6 (63.5 ) 1,060.1 1,080.5 Issue of ordinary shares 1.6 — 1.6 2.0 Issue of ordinary shares in exchange for RELX NV shares 930.8 (3.5 ) 927.3 – Repurchase of ordinary shares — (26.9 ) (26.9 ) (23.1 ) Net (purchase)/release of shares by the Employee Benefit Trust — (0.2 ) (0.2 ) 0.7 Cancellation of shares (45.0 ) 45.0 — – At end of year 2,011.0 (49.1 ) 1,961.9 1,060.1 RELX NV At start of year 1,000.0 (56.4 ) 943.6 962.2 Issue of ordinary shares 0.9 — 0.9 2.1 Repurchase of ordinary shares — (17.5 ) (17.5 ) (21.4 ) Net release of shares by the Employee Benefit Trust — 0.3 0.3 0.7 Cancellation of ordinary shares on completion of the corporate simplification (930.8 ) 3.5 (927.3 ) – Cancellation of treasury shares on completion of the corporate simplification (70.1 ) 70.1 — – At end of year — — — 943.6 At end of year 2,011.0 (49.1 ) 1,961.9 2,003.7 |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Other Reserves [Abstract] | |
Summary of Other Reserves | Hedge reserve 2018 £m Other reserves 2018 £m Total 2018 £m Restated Total 2017 £m At start of year (3 ) 428 425 (215 ) Profit attributable to RELX PLC shareholders – 1,422 1,422 1,648 Dividends paid – (796 ) (796 ) (762 ) Actuarial gains /(losses) on defined benefit pension schemes – (91 ) (91 ) 233 Fair value movements on cash flow hedges (59 ) – (59 ) 137 Transfer to net profit from cash flow hedge reserve 17 – 17 25 Tax recognised in other comprehensive income 9 15 24 (89 ) Increase in share based remuneration reserve (net of tax) – 35 35 42 Issue of ordinary shares, net of expenses – (227 ) (227 ) 0 Cancellation of shares – 262 262 (566 ) Settlement of share awards – (35 ) (35 ) (37 ) Exchange translation differences – 7 7 9 At end of year (36 ) 1,020 984 425 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Key Management Personnel Remuneration | KEY MANAGEMENT PERSONNEL REMUNERATION 2018 £m 2017 £m 2016 £m Salaries, other short-term employee benefits and non-executive fees 7 5 5 Post-employment benefits 1 1 1 Share based remuneration* 7 8 12 Total 15 14 18 |
Summary of Executive Directors Remuneration | EXECUTIVE DIRECTORS Salary Benefits Annual incentive Cost of share based remuneration * Cost of pension provision * Total £’000 £’000 £’000 £’000 £’000 £’000 Total Executive Directors 2018 1,935 99 3,033 7,003 741 12,811 2017 1,889 101 1,964 8,205 983 13,142 2016 1,843 88 1,881 12,038 1,052 16,902 |
Summary of Non-Executive Directors Remuneration | NON-EXECUTIVE DIRECTORS 2018 £’000 2017 £’000 2016 £’000 Fees and benefits 1,634 1,396 1,364 |
Exchange rates (Tables)
Exchange rates (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Foreign Exchange Rates [Abstract] | |
Summary of Exchange Rates in Preparing Consolidated Statements | The following exchange rates have been applied in preparing the consolidated financial statements: Income statement Statement of financial position 2018 2017 2016 2018 2017 Euro to sterling 1.13 1.14 1.22 1.11 1.12 US dollars to sterling 1.34 1.29 1.36 1.27 1.35 |
Related undertakings (Tables)
Related undertakings (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Full List of Related Undertakings | A full list of related undertakings (comprising subsidiaries, joint ventures, associates and other significant holdings) is set out below. All are 100% owned directly or indirectly by the Group except where percentage ownership denoted in (x%). Company name Share class Reg office Australia Adaptris Pty Ltd Ordinary AUS1 ELsevier (Australia) Pty Ltd Ordinary AUS3 Fair Events Pty Ltd (49%) Ordinary AUS4 Fitness Show Pty Ltd (80%) Ordinary AUS6 Reed Business Information (Australia) Pty Ltd Ordinary AUS1 Reed Exhibitions Australia Pty Ltd Ordinary AUS2 Reed International Books Australia Pty Ltd Ordinary AUS3 Reed Oz Comic-Con Pty Ltd (80%) Ordinary AUS2 RELX Australia Pty Ltd Ordinary AUS2 SST Software Australia Pty Ltd Ordinary AUS7 Symbiotic Technologies Pty Ltd Ordinary AUS8 Symbiotic Technologies Operation Pty Ltd Ordinary AUS8 Threat Metrix Pty Ltd Ordinary AUS8 Austria Expoxx Messebau GmbH Registered Capital AUT1 LexisNexis Verlag ARD ORAC GmbH &Co KG Registered Capital AUT2 ORAC Gesellschaft m.b.H. Registered Capital AUT2 Reed CEE GmbH Registered Capital AUT1 Reed Messe Salzburg GmbH Registered Capital AUT3 Reed Messe Wien GmbH Registered Capital AUT1 RELX Austria GmbH Registered Capital AUT3 System Stand Bau GmbH Registered Capital AUT4 Belgium LexisNexis BVBA Ordinary BEL1 First 4 Farming Europe NV Ordinary BEL2 Brazil Elsevier Editora Ltda Quotas BRA1 Fircosoft Brazil Consultoriae Servicos de lnformatica Ltda Ordinary BRA2 LexisNexis Informa ç Quotas shares BRA3 Lexis Nexis Servi ç Quotas shares BRA3 MLex Brasil Midia Mercadoligica Ltda (91%) Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas shares BRA3 SST Software do Brasil Ltda Ordinary BRA5 Canada LexisNexis Canada Inc Class A ordinary CAN1 RELX Canada Ltd Unlimited Class A, CAN3 Unlimited Class B, Unlimited Class C, Unlimited Class D, Unlimited Class E, Unlimited Class F, Unlimited Class G, Unlimited Class H Science-Metrix lnc Class A common shares Class B common shares Class A preferred shares Class B preferred shares Class C preferred shares Class D preferred shares CAN4 ThreatMetrix (Canada) Inc Common shares CAN2 China Beijing Bakery China Exhibitions Co., Ltd (25%) Registered Capital CHN1 Beijing Medtime Elsevier Education Technology Co., Ltd (49%) Registered Capital CHN2 Beijing Reed Elsevier Science and Technology Co., Ltd Registered Capital CHN3 Beijing Reed Guanghe Exhibition Co., Ltd (80%) Registered Capital CHN4 C-One Energy Co., Ltd Registered Capital CHN6 Genilex Information Technology Co., Ltd (40%) Registered Capital CHN7 ICIS Consulting (Beijing) Co., Ltd Registered Capital CHN8 KeAi Communications Co., Ltd (49%) Registered Capital CHN9 LexisNexis Risk Solutions (Shanghai) Information Technologies Co., Ltd Registered Capital CHN10 MLex Consulting (Beijing) Co., Ltd (91%) Registered Capital CHN11 Reed Business Information (Shanghai) Co., Ltd Registered Captial CHN20 Reed Elsevier Information Technology (Beijing) Co., Ltd Registered Capital CHN3 Reed Exhibitions (China) Co., Ltd Registered Capital CHN4 Reed Exhibitions Henjin Co., Ltd Registered Capital CHN19 Reed Exhibitions (Shanghai) Co., Ltd Registered Capital CHN12 Reed Hongda Exhibitions (Henan) Co., Ltd (51%) Registered Capital CHN13 Reed Huabai Exhibitions (Beijing) Co., Ltd (51%) Registered Capital CHN4 Reed Huabo Exhibitions (Shenzhen) Co., Ltd (65%) Registered Capital CHN14 Share Reg Company name class office Reed Huaqun ExhibitionsCo., Ltd (52%) Registered Capital CHN4 Reed Kuozhan Exhibitions (Shanghai) Co., Ltd (60%) Registered Capital CHN12 Reed Sinopharm ExhibitionsCo., Ltd (50%) Registered Capital CHN4 RELX (China) Investment Co., Ltd Registered Capital CHN15 Shanghai Datong Medical Information Technology Co., Ltd Registered Capital CHN17 Shanghai SinoReal Exhibitions Co., Ltd (27.5%) Registered Capital CHN18 Colombia LexisNexis Risk Solutions S.A.S. Ordinary COL1 Denmark Elsevier A/S Ordinary DNK1 Reed Elsevier Denmark ApS Ordinary DNK1 Dubai, UAE Reed Exhibitions Free Zone-LLC Ordinary UAE1 RELX Middle East FZ-LLC Ordinary UAE2 Egypt Elsevier Egypt LLC Ordinary EGY1 France Elsevier HoIding France SAS Registered Capital FRA1 Elsevier Masson SAS Registered Capital FRA1 Evoluprint SAS Ordinary FRA2 Fircosoft SAS Ordinary FRA3 Gie Edi-Data (83%) Ordinary FRA4 Gie Juris-Data Ordinary FRA4 GIE PRK- Publicite Robert Krier Registered capital FRA5 LexisNexis Business Information Solutions S.A. Ordinary FRA4 LexisNexis Business Information Solutions Holding S.A. Ordinary FRA6 LexisNexis International Development Services S. A. Ordinary FRA4 LexisNexis SA Ordinary FRA4 Reed Exhibitions ISG SARL Registered capital FRA7 Reed Expositions France SAS Ordinary FRA5 Reed Midem SAS Registered capital FRA7 Reed Organisation SAS Ordinary FRA5 RELX France S.A. Registered capital FRA7 SAFI SA (50%) Ordinary FRA8 Germany Aries Medical Knowledge GmbH & Co KG Registered Capital DEU9 Aries Medical Knowledge Verwaltungsgesellschaft GmbH Registered Capital DEU9 ElsevierGmbH Registered Capital DEU3 Elsevier Information Systems GmbH Registered Capital DEU3 LexisNexis GmbH Registered Capital DEU5 Patent Sight GmbH Registered Capital DEU8 REC Publications GmbH Registered Capital DEU1 Reed Exhibitions (Germany) GmbH Registered Capital DEU1 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 Reed Travel Group (Germany) GmbH Ordinary DEU6 RELX Deutschland GmbH Registered Capital DEU1 Tschach Solutions GmbH Ordinary DEU7 Hong Kong Ascend China Holding Ltd Ordinary HNK1 Reed Business Information (China) Ltd Ordinary HNK2 JC Exhibition and Promotion Ltd (65%) Ordinary HNK1 JYLN Sager Ltd (40%) Ordinary HNK5 MLex Asia Ltd(91%) Ordinary HNK6 Reed Exhibitions Ltd Ordinary HNK5 RELX (Greater China) Ltd Ordinary HNK7 India Comic Con India Private Ltd (36%) Ordinary IND2 FircoSoft India Private Ltd Ordinary IND3 Reed ELsevier Publishing (India) Pvt Ltd Ordinary IND4 Reed Manch Exhibitions Private Ltd (70%) Ordinary IND5 ReedSI Exhibitions Private Ltd (51%) Ordinary IND6 ReedTriune Exhibitions Private Ltd (72%) Ordinary IND7 RELX India Private Ltd Ordinary IND1 Indonesia PT Reed Exhibitions Indonesia (70%) Class A IDN2 Class B PT Reed Panorama Exhibitions (50%) Ordinary IDN1 Share Reg Company name class office Ireland Butterworth (Ireland) Ltd Ordinary, A Ordinary IRL2 Elsevier Services Ireland Ltd Ordinary IRL4. LexisNexis Risk Solutions (Ireland) Ltd Ordinary IRL1 LexisNexis Risk Solutions (Europe) Ltd Ordinary IRL1 Israel LexisNexis Israel Ltd Ordinary ISR1 Italy Elsevier SRL Registered Capital ITA1 ICIS Italia SRL Ordinary ITA2 Reed Exhibitions ISG Italy SRL Ordinary ITA1 Reed Exhibitions Italia SRL Ordinary ITA3 Japan Ascend Japan KK Ordinary JPN1 Elsevier Japan KK Ordinary JPN2 LexisNexis Japan KK Common Stock JPN3 PatentSight Japan Inc Common Shares JPN6 Reed Exhibitions Japan KK Ordinary JPN4 Reed ISG Japan KK Ordinary JPN5 ThreatMetrix GK Membership Interest JPN7 Korea (South) Elsevier Korea LLC Ordinary K0R1 LexisNexis Legal and Professional Service Korea Ltd Ordinary K0R2 Reed Exhibitions Korea Ltd Ordinary K0R3 Reed Exporum Ltd (60%) Ordinary K0R4 Reed K. Fairs Ltd (70%) Ordinary K0R3 Luxembourg FIRCOSOFT Luxembourg S à Ordinary LUX1 Malaysia LexisNexis Malaysia Sdn Bhd Ordinary MYS1 Reed Exhibitions Sdn Bhd Ordinary MYS1 Mexico Masson -Doyma Mexico, S.A. Ordinary MEX1 Reed Exhibitions Mexico S.A. de C.V. Ordinary MEX2 Morocco Reed Exhibitions Morocco SARL Ordinary MAR1 New Zealand LexisNexis NZ Ltd Ordinary NZL1 Philippines Reed Elsevier Shared Services (Philippines) Inc. Ordinary PHL1 Poland Elsevier sp.z.o.o. Ordinary POL1 Russia Ecwatech Company ZAO Ordinary RUS1 LexisNexis OOO Registered Capital RUS2 Real Estate Events Direct OOO (80%) Registered Capital RUS3 RELX OOO Registered Capital RUS2 Saudi Arabia Reed Sunaidi Exhibitions (50%) Ordinary SAU1 Singapore Elsevier (Singapore) Pte Ltd Ordinary SGP1 F4F Agriculture (Asia Pacific) Pte Ltd Ordinary SGP2 Lexis- Nexis Philippines Pte Ltd (75%) Preference shares SGP3 Reed Business Information Pte Ltd Ordinary SGP4 RE (HAPL) Pte Ltd Ordinary SGP1 RELX (Singapore) Pte Ltd Ordinary SGP3 SAFI Asia Pte Ltd (50%) Ordinary SGP4 ThreatMetrixPTE Ltd Ordinary SGP5 South Africa Fircosoft South Africa (Pty) Ltd Ordinary ZAF1 Globalrange SA (Pty) Ltd Ordinary ZAF2 Korbitec (Pty) Ltd (90%) Ordinary ZAF3 LegalPerfectTSoftware Solutions (Pty) Ltd (90%) Ordinary ZAF3 LexisNexis Academic (Pty) Ltd (90%) Ordinary ZAF3 LexisNexis (Pty) Ltd (90%) Ordinary ZAF3 LexisNexis Risk Management (Pty) Ltd (90%) Ordinary ZAF3 Property Payment Exchange (SA) (Pty) Ltd (90%) Ordinary ZAF3 Company name Share class Reg office RELX (Pty) Ltd Ordinary ZAF3 Reed Exhibitions (Pty) Ltd (90%) A-shares ZAF4 Reed Events Management (Pty) Ltd (90%) A-shares ZAF4 Reed Exhibitions Group (Pty) Ltd (90%) Ordinary ZAF4 Reed Venue Management (Pty) Ltd (90%) A-shares ZAF4 Winsearch Services (Pty) Ltd (90%) Ordinary ZAF3 Spain Elsevier Espana, S.L. Participations ESP1 Switzerland Elsevier Finance SA Ordinary CHE1 Fircosoft Schweiz GmbH Ordinary CHE2 RELX Risks SA Ordinary CHE1 RELX Swiss Holdings SA Ordinary CHE1 Taiwan Elsevier Taiwan LLC Registered Capital TWN1 Thailand Reed Holding (ThaiLand) Co., Ltd Ordinary THA2 Reed Tradex Company Ltd (49%) Preference shares THAI The Netherlands AGRM Solutions C.V. Partnership Interest NLD1 Elsevier B.V. Ordinary NLD1 Elsevier Employment Services B.V. Ordinary NLD1 LexisNexis Business Information Solutions B.V. Ordinary NLD1 LexisNexis Univentio B.V. Ordinary NLD2 Misset Uitgeverij B.V. (49%) Ordinary NLD4 One Business B.V. Registered Capital NLD5 Reed Business B.V. Ordinary NLD1 RELX Finance B.V. Ordinary NLD1 RELX Holdings B.V. Ordinary NLD1 RELX NederLand B.V. E Shares / RE Shares NLD1 RELX Overseas B.V. E Shares / RE Shares NLD1 RELX US Holdings (Amsterdam) B.V. Ordinary NLD1 ThreatMetrix BV Ordinary NLD3 Turkey Elsevier STM Bilgi Hizmetleri Limited Șirketi Ordinary TUR1 Reed Tüyap Fuarcilik A.Ș.(50%) A-shares / B-shares TUR2 United Kingdom Adaptris Group Ltd Ordinary GBR2 Adaptris Ltd Ordinary GBR2 BradfieId Brett Holdings Ltd 71/2% Preferred GBR1 Butterworth & Co. (Overseas) Ltd Income, Ordinary Ordinary GBR1 Butterworth & Co. (Publishers) Ltd 4.5% Cum. GBR1 Butterworths Ltd Preference, 'A' Ordinary, ‘B’ Ordinary Ordinary GBR5 Cordery Compliance Ltd (72%) Ordinary GBR5 Cordery Ltd (72%) Ordinary GBR5 Crediva Ltd Ordinary GBR6 Dew Events Ltd Ordinary GBR4 Digital Foundry Network (50%) Ordinary GBR4 Drayton Legal Recoveries Ltd Ordinary GBR7 E & P Events LLP (50%) No Shares GBR4 Elsevier Ltd Ordinary GBR8 Elsevier Life Sciences IP Ltd Ordinary GBR8 Formpart (EPS) Ltd Ordinary GBR1 Formpart (HPL) Ltd Ordinary GBR1 Gamer Edition Ltd Ordinary GBR4 Gamer Events Ltd Ordinary GBR4 Gamer Network Ltd Ordinary GBR4 Gamermania Ltd Ordinary GBR2 Hallplaza Ltd Ordinary GBR4 Imbibe Media Ltd Ordinary GBR4 Indicium Financial Ltd Ordinary GBR10 Information Handling Ltd (85%) Ordinary GBR1 Insurance Initiatives Ltd Ordinary GBR10 Legend Exhibitions Ltd Ordinary GBR4 LexisNexis Risk Solutions UK Ltd Ordinary GBR11 MCM Central Ltd Ordinary GBR2 MCM Expo Ltd Ordinary GBR2 MCM Stategy Ltd Ordinary GBR2 Mendeley Ltd Ordinary GBR8 MLex Ltd (91%) A Ordinary Shares, GBR5 Ordinary Moreover Technologies Ltd Ordinary GBR1 Mosby International Ltd Ordinary GBR1 Newsflo Ltd Ordinary GBR1 Company name Share class Reg office NLife Ltd (23.5%) Ordinary GBR14 Offshore Europe (Management) Ltd Ordinary GBR4 Offshore Europe Partnership (50%) Partnership Interest GBR4 Out There Gaming Ltd (70%) Ordinary GBR4 Oxford Spires Management Co; Ltd (55%) Ordinary GBR12 Peopletracer Ltd Ordinary GBR6 Prean Holdings Ltd Deferred, Ordinary GBR1 RE Directors (No.1) Limited Ordinary GBR1 RE Directors (No.2) Limited Ordinary GBR1 RE (SOE) Ltd Ordinary GBR4 RE Secretaries Ltd Ordinary GBR1 Reed All-Energy Ltd Ordinary GBR4 Reed Business Information (Holdings) Ltd Ordinary GBR2 Reed Business Information Ltd Ordinary GBR2 Reed Consumer Books Ltd Ordinary GBR1 Reed Elsevier (UIG) Ltd Ordinary GBR1 Reed Elsevier Pension Trustee Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR4 Reed Exhibitions Ltd Deferred, Ordinary GBR4 Reed Midem Ltd Ordinary GBR4 Reed Nominees Ltd Ordinary GBR1 Reed Overseas Corporation Ltd Ordinary GBR1 Reed Publishing Corporation Ltd Ordinary GBR1 RELX (Holdings) Ltd Ordinary GBR1 RELX (Investments) plc Ordinary GBR1 RELX (UK) Ltd Ordinary GBR1 RELX Finance Ltd Ordinary GBR1 RELX Group plc Ordinary GBR1 'R' Ordinary RELX Overseas Holdings Ltd Ordinary, GBR1 REV Venture Partners Ltd Ordinary GBR1 RPS Ltd Ordinary GBR4 Symbiotic Technologies Operations Ltd Ordinary GBR15 Tracesmart Group Ltd Ordinary GBR6 Tracesmart Ltd Ordinary GBR6 VG247 Ltd Ordinary GBR4 Wunelli Ltd Ordinary GBR13 United States Accuity Asset Verification Services Inc Common Stock USA1 Accuity Inc Common Stock USA1 Aries Systems Corporation Common USA3 Ordinary Derman, Inc Common Stock USA4 Dunlap-Hanna Publishers (50%) Partnership Interest USA8 Elsevier Inc Common Stock USA3 Elsevier Holdings Inc Common Stock USA3 Elsevier Medical Information LLC Membership Interest USA3 Elsevier STM Inc Common Stock USA3 Enclarity, lnc Common Stock USA2 ExitCare LLC Membership Interest USA3 Flightstats, Inc Common Stock USA5 Gamer Network lnc. Common Stock USA3 Gaming Business Asia LLC (50%) Membership Interest USA3 Health Market Science, Inc Common Stock USA2 IDG-RBI China Publishers LLC (50%) Membership Interest USA3 Intelligize, Inc Common Stock USA3 Knovel Corporation Common Stock USA3 Lex Machina lnc Common Stock USA3 LexisNexis Claims Solutions Inc Common Stock USA2 LexisNexis Coplogic Solutions Inc Common Stock USA2 LexisNexis of Puerto Rico Inc Common Stock USA10 LexisNexis Risk Assets Inc Common Stock USA2 LexisNexis Risk Data Management Inc Common Stock USA2 LexisNexis Risk Holdings Inc Common Stock USA2 LexisNexis Risk Solutions Inc Common Stock USA2 LexisNexis Special Services Inc Common Stock USA6 LexisNexis Rule of Law Foundation Non stock USA10 corporation LexisNexis VitalChek Network Inc Common Stock USA2 Managed Technology Services LLC (51%) Membership Interest USA9 Matthew Bender & Company, Inc. Common Stock USA3 MLex US, Inc (91%) Common Stock USA3 PoliceReports.US, LLC Membership Interest USA2 Portfolio Media, Inc Common Stock USA3 Reed Business Information Inc Common Stock USA5 Reed Technology and Information Services Inc. Common Stock USA3 RELX Capital lnc Common Stock USA4 RELX Inc Common Stock USA3 RELXUS Holdings Inc Common Stock USA3 Reman, Inc Common Stock USA3 REVIV Partnership LP No shares USA4 SAFI Americas LLC (50%) Membership Interest USA3 Science-Metrix Corporation Common Stock USA3 Symbiotic Technologies Operations Inc. Common USA2 The Elsevier Foundation No Shares USA3 Share Reg Company name class office The Reed Elsevier Ventures 2005 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2006 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2008 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2009 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2010 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2011 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2012 Partnership LP Partnership Interest USA4 The Reed Elsevier Ventures 2013 Partnership LP Partnership Interest USA4 The Remick Publishers (50%) Partnership Interest USA8 ThreatMetrix, lnc. Common USA2 Ordinary World Compliance, Inc Common Stock USA4 Vietnam Reed TradexVietnam LLC (49%) Ordinary VIE1 Registered offices Australia AUS1: Building B, Level 2, Unit 11,1 Maitland Place, Baulkham Hills NSW 2153, Australia AUS2: Level 10, 10 Help Street, Chatswood NSW 2067, Australia AUS3: 'Tower 2' Level 10, 475 Victoria Avenue, Chatswood NSW 2067 AUS4: Grant Thornton, Level 17, 393 Kent St, Sydney, NSW 2000, Australia AUS5: KPMG, 147 Collins Street, Melbourne, Vic, 3000 AUS6: Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 AUS7: Level 1, 439 Gympie Road, Strathpine, QLD 4500 AUS8: 1303, 799 Pacific Highway, Chatswood, NSW 2067 Austria AUT1: Messeplatz 1, 1020, Wien, Austria AUT2: Marxergasse 25,1030, Wien, Austria AUT3: Am Messezentrum 6, 5020, Salzburg, Austria Belgium BEL1: Grotesteenweg-Zuid 39, 9052 Gent, Belgium BEL2: Leernseteenweg 128 Box E, 9800 Deinze, Belgium BEL3: 67 rue de La Loi, 1040 Etterbeek, Belgium Brazil BRA1: Rua Sete de Setembro, n°111, salas 601,1501/1502, 1601/1602, 1701/1702 e 802-8° Andar, Centro, cidade do Rio de Janeiro, estado do Rio de Janeiro, CEP 20.050-006 BRA2: São Paulo, State of São Paulo, at Rua Bela Cintra, n°1.200, 8th floor, CEP 01415-002 BRA3: Rua Bela Cintra no. 1200,10th floor, Sâo Paulo, 01415-001, Brazil BRA4: Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 BRA5: Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200 Canada CAN1: 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T7W8, Canada CAN2: 160 Elgin Street, Suite 2600, Ottawa, Ontario, K1P 1C3, Canada CAN3: 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 CAN4: 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada China CHN1: Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044, China CHN2: West Building of Administration Building, Xueyuan Road No. 38 Peking University Health Science Center, Haidan District, Beijing, 100191, China CHN3: Oriental Plaza, No. 1 East Chang An Ave,Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China CHN4: Ping An International Finance Center, Room 1504,15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China CHN5: 4/F Block C, No 999 Jingzhong Road, Changning District, Shanghai, China CHN6: 9/F, No 3 Zhongshan Er Road, Guangzhou, China CHN7: Unit 2480, Building 2, No. 7, Chuangxin Road, Science Park of Changping District, Beijing, China CHN8: Room 12B, 7th Floor, Oriental Plaza, 1 East Chang An Avenue, Beijing, China CHN9: 16 Donghuangchenggen North Street, Beijing, 100717, China CHN10: Room 5106, Raffle City, 268 Middle Xizang Road, Huangpu District, Shanghai, 200001, China CHN11: Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road, Chaoyang District, Beijing CHN12: lntercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China CHN13: World Expo Mansion, 14F, No. 04-05, No. 8 Business Out Ring Road, Zhengzou New District, Zhengzou, 450000, China CHN14: Shenzhen International Chamber of Commerce Tower, Room 1801-1802,1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048, China CHN15: Room 319, 238 Jiangchangsan Road, Jing'an District, Shanghai, China CHN16: Room 702-2,200 Huiyuan Road, Jiading Industrial Area,Shanghai CHN17: No 498, GouShouJing Road, Building 6 Unit 12502-505, Shanghai, Pudong New District, 201203, China CHN18: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality CHN19: FL2, No.979, Yunhan Road, Nicheng Town, Pudong NewArea CHN20: 4/F Block C, No999 Jingzhong Road,Changning District, Shanghai, China Colombia COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá, d.c., 76600, Colombia Denmark DNK1 : Niels Jernes Vej 10,9220, Aalborg Øst, Denmark Dubai, UAE UAE1: Office No. 328, Building 02, third floor, P.O. Box 502425, Dubai, United Arab Emirates UAE2: Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates Egypt EGY1: Land Mark Office BuiIding, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt Registered offices France FRA1: 65, rue Camille Desmoulins, 92130, Issyles Moulineaux, France FRA2: Parc Euronord- 10, rue du Parc- 31150 Bruguieres FRA3: 247 rue de Bercy 75012 Paris FRA4: 141 rue de Javel,75015 Paris FRA5: 52 Quai de Dion Bouton 92800 Puteaux FRA6: lmmeuble «Technopolis», 350 rue Georges Besse-Nîmes (30000) FRA7: 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France FRA8: 6-8 Rue Chaptal, 75009 Paris Germany DEU1: Völklinger Strasse 4,40219, Düsseldorf, Germany DEU3: Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany DEU4: Hackerbrücke 6,80335, Munich, Germany DEU5: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU6: Schwannstr. 6, 40476 Düsseldorf DEU7: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany DEU8: Joseph-Schumpeter-Allee 33,53227, Bonn DEU9: Hauptstrasse 47, 40764, Lagenfeld Hong Kong HNK1: 20/F Alexandra House, 18 Chater Road, Central, Hong Kong HNK2: Level 28, Building 8, 3 Pacific Place, 1 Queens Road East, HONG KONG, Hong Kong HNK3: Unit 204 2/F, Malaysia Bldg., 50 Gloucester Rd, Wanchai, Hong Kong HNK4: Level 54 Hopewell Center, 183 Queens Road East (Tricor Office), Hong Kong HNK5: Flat 2,19/F Henan Building 90-92, Jaffe Road Wanchai, Hong Kong, Hong Kong HNK6: 703 Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong HNK7: 3901,39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong, Hong Kong India IND1: 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India IND2: B9/5 Vasant Vihar, New Delhi, 110057, India IND3: n°664 Level 6 – Chennai Regus- Citi Centre – 10/11 Dr Radhakrishnan Salai, Mylapore – Chennai 600004 IND4: 18, Kotla Lane, Rouse Avenue, New Delhi, 110002, India IND5: B-15/192, Pharma Apartments, Patparganj, I.P. Extension, New Delhi, 110092, India IND6: B-9, "A" Block, LSC, Naraina Vihar, Ring Road, New Delhi, 110028, India IND7: #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India Indonesia IDN1: Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia IDN2: Menara Citicon LeveL8. Unit 8011 & 8012 JL. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia Ireland IRL1: 80 Harcourt Street, Dublin 2, Ireland IRL2: Arthur Cox Building, Earlsfort Terrace, Dublin 2, Ireland IRL3: (A&L Goodbody Secretarial Services), 25/28 North Wall Quay, Dublin 1, D01 H104, Ireland IRL4: Suite 4320, Atlantic Avenue, Westpark Business Campus, Shannon, Clare, Ireland Israel ISR1: Meitar, attorneys at Law, 16 Abba Hillel Road, Ramat Gan, 5250608, Israel Italy ITA1: Via Marostica 1,20146, Milan, Italy ITA2: Studio Colombo e Associati, Via Cino del Duca 5,20122, Milano, Italy ITA3: Milano (Ml) Via Marostica 1 cap 20146 Japan JPN1: Kyodo Tsushin Kaikam 2F, 2-2-5 Toronomon, Minato-ku, Tokyo, 105-0001 JPN2: Ark Mori Building, 1-12-32 Akasaka, Minato-ku,Tokyo, 107-6029, Japan JPN3: 1-9-15, Higashi Azabu, Minato-ku Tokyo Japan JPN4: Shinjuku-Nomura Bldg., 1-26-2 Nishi-shinjuku,Shinjuku-ku, Tokyo, Japan JPN5: 13-12 Rokubancho, Chiyoda-ku.Tokyo. Japan JPN6: 7F Cross Office Uchisaiwaicho. 1-18-6 Nishi-Shinbashi, Minato-ku.Tokyo JPN7: 2-6, Kasumigaseki 3-chome, Chiyoda-ku,Tokyo Korea (South) KOR1: Chunwoo Building, 4th floor, 534 ltaewon-dong,Yongsan-gu,Seoel, 140-861, Korea, Republic of KOR2: 206 Noksapyeong-daero,Yongsan-gu, Seoel, Korea, Republic of KOR3: "Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea" KOR4: 1324 B Lock A Tera Tower 11,201, Songpa-daero, Songpa-gu, Seoul, 05854 Luxembourg LUX1: Bloc B 19-21, Route d’Arlon, L-8009 Strassen, Luxembourg Registered offices Malaysia MYS1: 6th Floor, Akademi Etiqa, No. 23 JaLan Melaka, 50100 KuaLa Lumpur, Malaysia Mexico MEX1: Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México MEX2: Av. Insurgentes No. 1388, Piso 8, Col. Actipan, 03230 Mexico, Mexico Morocco MAR1: Forum Bab Abdelaziz au 62, Angle Blvd. d’Anfa, 6éme etage, Apt 61, Casablanca, Morocco New Zealand NZL1: Level 1,138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand Philippines PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines Poland POL1: Natpoll Building, ul. Migdalowa 4/59,02-796, Warsaw, Poland Russia RUS1: Pokrovka Street 27, Building 1, Moscow, Russian Federation RUS2: 24 Bolshaya Nikitskaya Str., bldg. 5, Moscow 125009, Russian Federation RUS3: Petrozavodskaya street 28/4, Building VI, room 2,125475, Moscow, Russian Federation Saudi Arabia SAU1: Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia Singapore SGP1: 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore SGP2: 16 Raffles Quay, #33-03 Hong Leong Building,Singapore, 048581,Singapore SGP3: 80 Robinson Road, #02-00, Singapore, 068898, Singapore SGP4: 1 Changi Business Park Crescent, #06-01 PLaza 8 & CBP, Singapore, 48602551, Singapore SGP5: 8 Robinson Road #03-00ASO Building Singapore 048544 South Africa ZAF1: Regus Brooklyn Bridge, 3rd Floor Steven House, Brooklyn Bridge Office Park, Fehrsen Street, Brooklyn, Pretoria ZAF2: Fourways Gold Park, 1st Floor - Wentworth Building, 32 Roos Street, Fourways, 2191, South Africa ZAF3: 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa ZAF4: Thebe House,2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa ZAF5: 14 Hertzog Street, Oranjeville, 9415 Spain ESP1: C/ Josep Tarradellas 20-30,1°/20029, Barcelona, Spain ESP2: Calle Zancoeta 0009,48013, Bilbao, Viscaya, Spain Switzerland CHE1: Espace de L’Europe 3,2002 Neuchatel, Switzerland CHE2: Bahnhofstrasse 100-8001 Zurich Taiwan TWN1: Suite N-818,8/F, Chia Hsin Cement Building, 96 Zhong Shan North Road, Section 2, Taipei. 10449. Taiwan Thailand THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road.Silom, Bangrak, Bangkok, 10500,Thailand THA2: 540 Mercury Tower, 22nd Floor, Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 The Netherlands NLD1: Radarweg 29,1043 NX Amsterdam, Netherlands NLD2: Galileiweg 8,2333 BD Leiden, Netherlands NLD3: Evertvan de Beekstraat 1 The Base 3/F, 1118CL Schiphol NLD4: Prins Hendrikstraat 17,7001GK Doetinchem NLD5: Spaklerweg 53,1114AE Amsterdam-Duivendrecht Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13Șișli-Maslak, Istanbul, Turkey TUR2: Tüyap Fuarve Kongre Merkezi,E-5Karayolu Üzeri. GürpinarKavșağı 34500, Büyük9ekmece, Istanbul, 34500, Turkey Registered offices United GBR1: 1-3 Strand, London, WC2N 5JR, United Kingdom GBR2: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom GBR3: AG Gateway Global Network, 85 Great Portland Street, First Floor, London, W1W7LT, United Kingdom GBR4: Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom GBR5: Lexis House, 30 Farringdon Street, London, EC4A4 HH, United Kingdom GBR6: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom GBR7: The Eye, 1 Procter Street, London, WC1V6EU, United Kingdom GBR8: The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom GBR9: c/o RELX (UK) Limited, Butterworths Limited, 4 Hill Street, Edinburgh, EH23JZ, Scotland GBR10: 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU GBR11: 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, London, SL8 8BW, United Kingdom GBR12: 40 Kimbolton Road, Bedford, England, MK40 2NR GBR13: 1000 Lakeside, Western Road, Portsmouth, P06 3EN, United Kingdom GBR14: Unit 18-19 Loughborough Technology Centre, Epinal Way, Loughborough, England, LE11 3GE GBR15: 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW United States USA1: 1007 Church Street, Evanston IL 60201 USA2: 1000 Alderman Dr., Alpharetta, GA 30005 USA3: 230 Park Ave, New York, NY 10169 USA4: 1105 North Market St, Wilmington, DE 19801 USA5: 3355 West Alabama Street, Houston, TX 77098 USA6: Puerta Del Condado #1095, Wilson Ave, Local # 3,San Juan, PR 00907 USA7: N909 N. Sepulveda Blvd., 11th Floor, El Segundo, CA 90245 USA8: 313 Washington Street, Suite 400, Newton, MA 02458 USA9: 1209 Orange Street, Wilmington, DE 19801 USA10: 9443 Springboro Pike, Miamisburg,OH 45342 Vietnam VIE1: 78 Nguyen Bieu, Ward 1, District 5, Ho Chi Minh City |
Basis of Preparation and Acco_4
Basis of Preparation and Accounting Policies - Summary of Changes in Proforma Financial Data (Detail) - GBP (£) £ / shares in Units, £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Proforma financial data [line items] | |||
Revenue | £ 7,492 | £ 7,341 | £ 6,889 |
Adjusted operating profit | 2,346 | 2,284 | 2,114 |
Reported operating profit | 1,964 | 1,905 | 1,708 |
Net finance costs | (211) | (199) | (213) |
Adjusted net profit attributable to RELX PLC shareholders | 1,674 | 1,620 | 1,473 |
Reported net profit attributable to RELX PLC shareholders | £ 1,422 | £ 1,648 | £ 1,150 |
Adjusted EPS | £ 0.847 | £ 0.802 | £ 0.714 |
Reported EPS | £ 0.719 | £ 0.816 | £ 0.558 |
Right of use assets | £ 263 | £ 287 | £ 326 |
Borrowings (including lease liability) | (6,365) | (5,253) | |
Finance lease receivable | £ 49 | 57 | 63 |
As reported [member] | |||
Proforma financial data [line items] | |||
Revenue | 7,355 | 6,895 | |
Adjusted operating profit | 2,284 | ||
Reported operating profit | 1,905 | 1,708 | |
Net finance costs | (182) | (195) | |
Adjusted net profit attributable to RELX PLC shareholders | 1,635 | ||
Reported net profit attributable to RELX PLC shareholders | £ 1,659 | £ 1,161 | |
Adjusted EPS | £ 0.810 | ||
Reported EPS | £ 0.822 | £ 0.563 | |
Right of use assets | £ 16 | £ 20 | |
Borrowings (including lease liability) | (4,886) | (4,843) | |
Deferred income | (1,834) | (1,941) | |
IFRS 9 impact [member] | |||
Proforma financial data [line items] | |||
Net finance costs | (2) | (2) | |
Adjusted net profit attributable to RELX PLC shareholders | (2) | ||
Reported net profit attributable to RELX PLC shareholders | £ (2) | £ (2) | |
Adjusted EPS | £ (0.001) | ||
Reported EPS | £ (0.001) | £ (0.001) | |
Borrowings (including lease liability) | £ 14 | £ 17 | |
IFRS 15 impact [member] | |||
Proforma financial data [line items] | |||
Revenue | (14) | (6) | |
Adjusted operating profit | (11) | ||
Reported operating profit | (11) | (6) | |
Adjusted net profit attributable to RELX PLC shareholders | (9) | ||
Reported net profit attributable to RELX PLC shareholders | £ (9) | £ (4) | |
Adjusted EPS | £ (0.005) | ||
Reported EPS | £ (0.005) | £ (0.002) | |
Deferred income | £ (76) | £ (67) | |
IFRS 16 impact [member] | |||
Proforma financial data [line items] | |||
Adjusted operating profit | 11 | ||
Reported operating profit | 11 | 6 | |
Net finance costs | (15) | (16) | |
Adjusted net profit attributable to RELX PLC shareholders | £ (4) | ||
Reported net profit attributable to RELX PLC shareholders | £ (5) | ||
Adjusted EPS | £ (0.002) | ||
Reported EPS | £ (0.002) | ||
Right of use assets | £ 271 | £ 306 | |
Borrowings (including lease liability) | (381) | (430) | |
Finance lease receivable | 57 | 63 | |
As restated [member] | |||
Proforma financial data [line items] | |||
Revenue | 7,341 | 6,889 | |
Adjusted operating profit | 2,284 | ||
Reported operating profit | 1,905 | 1,708 | |
Net finance costs | (199) | (213) | |
Adjusted net profit attributable to RELX PLC shareholders | 1,620 | ||
Reported net profit attributable to RELX PLC shareholders | £ 1,648 | £ 1,150 | |
Adjusted EPS | £ 0.802 | ||
Reported EPS | £ 0.816 | £ 0.558 | |
Right of use assets | £ 287 | £ 326 | |
Borrowings (including lease liability) | (5,253) | (5,256) | |
Finance lease receivable | 57 | 63 | |
Deferred income | £ (1,910) | £ (2,008) |
Basis of Preparation and Acco_5
Basis of Preparation and Accounting Policies - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Proforma financial data [line items] | ||||
Borrowings (including lease liability) | £ (6,365) | £ (5,253) | ||
Decrease in reported operating profit | 11 | £ 6 | ||
Decrease in adjusted operating profit | 11 | |||
Additional right-of-use assets | 31 | 46 | ||
Finance lease receivable | £ 49 | 57 | 63 | |
Additional lease liabilities | 381 | 430 | ||
Increase in reported operating profit | 11 | 6 | ||
Increase in adjusted operating profit | 11 | |||
Increase to finance costs | 15 | 16 | ||
Reduction In opening retained earnings | £ 36 | |||
IFRS 9 impact [member] | ||||
Proforma financial data [line items] | ||||
Borrowings (including lease liability) | 14 | 17 | ||
IFRS 16 impact [member] | ||||
Proforma financial data [line items] | ||||
Borrowings (including lease liability) | (381) | (430) | ||
Additional right-of-use assets | 271 | 306 | ||
Finance lease receivable | £ 57 | £ 63 |
Segment Analysis - Additional I
Segment Analysis - Additional Information (Detail) £ in Millions, Participant in Millions | 12 Months Ended | ||
Dec. 31, 2018GBP (£)EventCountryParticipantSegment | Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | |
Disclosure of operating segments [line items] | |||
Number of segments | Segment | 4 | ||
Revenue | £ 7,492 | £ 7,341 | £ 6,889 |
Aggregate amount of transaction price allocated | £ 210 | ||
Revenue recognition period | 10 years | ||
Non-current assets | £ 11,149 | 9,883 | 10,783 |
Share of results of joint ventures | 32 | 37 | |
Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 101 | 101 | |
Share of results of joint ventures | 32 | 37 | 37 |
United Kingdom [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,144 | 1,085 | 1,048 |
Non-current assets | £ 988 | 1,026 | 961 |
Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Number of countries face to face events conducted | Country | 30 | ||
Amortisation of acquired intangible assets | £ 1 | 1 | 1 |
Exhibitions [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Share of results of joint ventures | £ 31 | 32 | 27 |
Exhibitions [member] | Bottom of range [member] | |||
Disclosure of operating segments [line items] | |||
Number of face to face events conducted | Event | 500 | ||
Number of participant in face to face events | Participant | 7 | ||
Geographical origin [member] | United Kingdom [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | £ 527 | 521 | 502 |
Legal [member] | |||
Disclosure of operating segments [line items] | |||
Amortisation of acquired intangible assets | 0 | 0 | 3 |
Legal [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Share of results of joint ventures | 0 | 5 | 10 |
Risk & business analytics [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Share of results of joint ventures | £ 1 | £ 0 | £ 0 |
Segment Analysis - Summary of A
Segment Analysis - Summary of Analysis by Business Segment (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of operating segments [line items] | |||
Revenue | £ 7,492 | £ 7,341 | £ 6,889 |
Adjusted operating profit | 2,346 | 2,284 | 2,114 |
Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,492 | 7,341 | 6,889 |
Adjusted operating profit | 2,351 | 2,289 | 2,122 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,538 | 2,473 | 2,318 |
Adjusted operating profit | 942 | 914 | 854 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,117 | 2,073 | 1,905 |
Adjusted operating profit | 776 | 760 | 685 |
Operating segments [member] | Legal [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,618 | 1,686 | 1,619 |
Adjusted operating profit | 320 | 328 | 312 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,219 | 1,109 | 1,047 |
Adjusted operating profit | 313 | 287 | 271 |
Unallocated amounts [member] | |||
Disclosure of operating segments [line items] | |||
Adjusted operating profit | £ (5) | £ (5) | £ (8) |
Segment Analysis - Summary of_2
Segment Analysis - Summary of Analysis of Revenue by Geographical Origin (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | £ 7,492 | £ 7,341 | £ 6,889 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 4,013 | 3,998 | 3,697 |
Europe | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | 2,790 | 2,644 | 2,568 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Revenue | £ 689 | £ 699 | £ 624 |
Segment Analysis - Summary of C
Segment Analysis - Summary of Classification of Revenue (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | £ 7,492 | £ 7,341 | £ 6,889 |
Revenue | 7,492 | 7,341 | 6,889 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 4,013 | 3,998 | 3,697 |
Revenue | 4,013 | 3,998 | 3,697 |
Europe | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,790 | 2,644 | 2,568 |
Revenue | 2,790 | 2,644 | 2,568 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 689 | 699 | 624 |
Revenue | 689 | 699 | 624 |
Operating segments [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 7,492 | 7,341 | 6,889 |
Revenue | 7,492 | 7,341 | 6,889 |
Operating segments [member] | Electronic [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 5,513 | 5,388 | 4,948 |
Revenue | 5,513 | 5,388 | 4,948 |
Operating segments [member] | Face to face [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,221 | 1,122 | 1,066 |
Revenue | 1,221 | 1,122 | 1,066 |
Operating segments [member] | Print [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 758 | 831 | 875 |
Revenue | 758 | 831 | 875 |
Operating segments [member] | Subscriptions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 3,889 | 3,800 | 3,612 |
Revenue | 3,889 | 3,800 | 3,612 |
Operating segments [member] | Transactional [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 3,521 | 3,444 | 3,163 |
Revenue | 3,521 | 3,444 | 3,163 |
Operating segments [member] | Advertising [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 82 | 97 | 114 |
Revenue | 82 | 97 | 114 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,538 | 2,473 | 2,318 |
Revenue | 2,538 | 2,473 | 2,318 |
Operating segments [member] | Scientific, Technical & Medical [member] | Electronic [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,094 | 1,995 | 1,834 |
Revenue | 2,094 | 1,995 | 1,834 |
Operating segments [member] | Scientific, Technical & Medical [member] | Face to face [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 7 | 10 | 10 |
Revenue | 7 | 10 | 10 |
Operating segments [member] | Scientific, Technical & Medical [member] | Print [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 437 | 468 | 474 |
Revenue | 437 | 468 | 474 |
Operating segments [member] | Scientific, Technical & Medical [member] | Subscriptions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,877 | 1,776 | 1,628 |
Revenue | 1,877 | 1,776 | 1,628 |
Operating segments [member] | Scientific, Technical & Medical [member] | Transactional [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 615 | 646 | 631 |
Revenue | 615 | 646 | 631 |
Operating segments [member] | Scientific, Technical & Medical [member] | Advertising [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 46 | 51 | 59 |
Revenue | 46 | 51 | 59 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,117 | 2,073 | 1,905 |
Revenue | 2,117 | 2,073 | 1,905 |
Operating segments [member] | Risk & business analytics [member] | Electronic [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 2,030 | 1,967 | 1,758 |
Revenue | 2,030 | 1,967 | 1,758 |
Operating segments [member] | Risk & business analytics [member] | Face to face [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 36 | 38 | 37 |
Revenue | 36 | 38 | 37 |
Operating segments [member] | Risk & business analytics [member] | Print [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 51 | 68 | 110 |
Revenue | 51 | 68 | 110 |
Operating segments [member] | Risk & business analytics [member] | Subscriptions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 765 | 732 | 684 |
Revenue | 765 | 732 | 684 |
Operating segments [member] | Risk & business analytics [member] | Transactional [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,322 | 1,301 | 1,172 |
Revenue | 1,322 | 1,301 | 1,172 |
Operating segments [member] | Risk & business analytics [member] | Advertising [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 30 | 40 | 49 |
Revenue | 30 | 40 | 49 |
Operating segments [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,618 | 1,686 | 1,619 |
Revenue | 1,618 | 1,686 | 1,619 |
Operating segments [member] | Legal [member] | Electronic [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,338 | 1,384 | 1,321 |
Revenue | 1,338 | 1,384 | 1,321 |
Operating segments [member] | Legal [member] | Face to face [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 10 | 7 | 7 |
Revenue | 10 | 7 | 7 |
Operating segments [member] | Legal [member] | Print [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 270 | 295 | 291 |
Revenue | 270 | 295 | 291 |
Operating segments [member] | Legal [member] | Subscriptions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,247 | 1,291 | 1,299 |
Revenue | 1,247 | 1,291 | 1,299 |
Operating segments [member] | Legal [member] | Transactional [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 365 | 389 | 314 |
Revenue | 365 | 389 | 314 |
Operating segments [member] | Legal [member] | Advertising [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 6 | 6 | 6 |
Revenue | 6 | 6 | 6 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,219 | 1,109 | 1,047 |
Revenue | 1,219 | 1,109 | 1,047 |
Operating segments [member] | Exhibitions [member] | Electronic [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 51 | 42 | 35 |
Revenue | 51 | 42 | 35 |
Operating segments [member] | Exhibitions [member] | Face to face [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,168 | 1,067 | 1,012 |
Revenue | 1,168 | 1,067 | 1,012 |
Operating segments [member] | Exhibitions [member] | Subscriptions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1 | 1 | |
Revenue | 1 | 1 | |
Operating segments [member] | Exhibitions [member] | Transactional [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,219 | 1,108 | 1,046 |
Revenue | 1,219 | 1,108 | 1,046 |
Operating segments [member] | North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 4,091 | 4,078 | 3,775 |
Revenue | 4,091 | 4,078 | 3,775 |
Operating segments [member] | North America [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,118 | 1,045 | 960 |
Revenue | 1,118 | 1,045 | 960 |
Operating segments [member] | North America [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,669 | 1,658 | 1,499 |
Revenue | 1,669 | 1,658 | 1,499 |
Operating segments [member] | North America [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,083 | 1,145 | 1,106 |
Revenue | 1,083 | 1,145 | 1,106 |
Operating segments [member] | North America [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 221 | 230 | 210 |
Revenue | 221 | 230 | 210 |
Operating segments [member] | Europe | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,808 | 1,694 | 1,711 |
Revenue | 1,808 | 1,694 | 1,711 |
Operating segments [member] | Europe | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 611 | 617 | 605 |
Revenue | 611 | 617 | 605 |
Operating segments [member] | Europe | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 322 | 308 | 322 |
Revenue | 322 | 308 | 322 |
Operating segments [member] | Europe | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 340 | 340 | 330 |
Revenue | 340 | 340 | 330 |
Operating segments [member] | Europe | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 535 | 429 | 454 |
Revenue | 535 | 429 | 454 |
Operating segments [member] | Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 1,593 | 1,569 | 1,403 |
Revenue | 1,593 | 1,569 | 1,403 |
Operating segments [member] | Rest of world [member] | Scientific, Technical & Medical [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 809 | 811 | 753 |
Revenue | 809 | 811 | 753 |
Operating segments [member] | Rest of world [member] | Risk & business analytics [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 126 | 107 | 84 |
Revenue | 126 | 107 | 84 |
Operating segments [member] | Rest of world [member] | Legal [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 195 | 201 | 183 |
Revenue | 195 | 201 | 183 |
Operating segments [member] | Rest of world [member] | Exhibitions [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Total revenue | 463 | 450 | 383 |
Revenue | £ 463 | £ 450 | £ 383 |
Segment Analysis - Summary of_3
Segment Analysis - Summary of Analysis by Business Segment Expenditure (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | £ 1,049 | £ 133 | £ 411 |
Capital expenditure additions | 365 | 355 | 332 |
Amortisation of acquired intangible assets | 288 | 314 | 346 |
Depreciation and other amortisation | 364 | 343 | 325 |
Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 106 | 94 | 19 |
Capital expenditure additions | 100 | 95 | 85 |
Amortisation of acquired intangible assets | 56 | 77 | 88 |
Depreciation and other amortisation | 109 | 100 | 100 |
Risk & business analytics [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 852 | 288 | |
Capital expenditure additions | 92 | 83 | 67 |
Amortisation of acquired intangible assets | 161 | 141 | 147 |
Depreciation and other amortisation | 76 | 64 | 56 |
Legal [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 30 | 6 | 83 |
Capital expenditure additions | 145 | 153 | 154 |
Amortisation of acquired intangible assets | 33 | 52 | 73 |
Depreciation and other amortisation | 147 | 142 | 135 |
Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 61 | 33 | 21 |
Capital expenditure additions | 28 | 24 | 26 |
Amortisation of acquired intangible assets | 36 | 44 | 38 |
Depreciation and other amortisation | £ 35 | £ 37 | £ 34 |
Segment Analysis - Summary of_4
Segment Analysis - Summary of Analysis of Non-current Assets by Geographical Location (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | £ 11,149 | £ 9,883 | £ 10,783 |
North America [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 8,692 | 7,408 | 8,307 |
Europe | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | 1,996 | 2,016 | 1,987 |
Rest of world [member] | |||
Disclosure Of Geographical Areas [Line Items] | |||
Non-current assets | £ 461 | £ 459 | £ 489 |
Segment Analysis - Summary of R
Segment Analysis - Summary of Reconciliation of Operating Profit to Adjusted Operating Profit (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Operating Segments [Abstract] | |||
Operating profit | £ 1,964 | £ 1,905 | £ 1,708 |
Adjustments: | |||
Amortisation of acquired intangible assets | 288 | 314 | 346 |
Acquisition-related costs | 84 | 56 | 51 |
Reclassification of tax in joint ventures | 11 | 10 | 10 |
Reclassification of finance income in joint ventures | (1) | (1) | (1) |
Adjusted operating profit | £ 2,346 | £ 2,284 | £ 2,114 |
Operating Profit - Disclosure o
Operating Profit - Disclosure of Detailed Information About Operating Profit (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Staff costs | |||
Wages and salaries | £ 1,959 | £ 1,926 | £ 1,767 |
Social security costs | 215 | 213 | 198 |
Pensions | 135 | 95 | 111 |
Share based remuneration | 41 | 39 | 38 |
Total staff costs | 2,350 | 2,273 | 2,114 |
Depreciation and amortisation | |||
Amortisation of acquired intangible assets | 287 | 313 | 342 |
Share of joint ventures' amortisation of acquired intangible assets | 1 | 1 | 4 |
Amortisation of internally developed intangible assets | 225 | 203 | 189 |
Depreciation of property, plant and equipment | 62 | 65 | 62 |
Depreciation of right of use asset | 77 | 75 | 74 |
Total depreciation and amortisation | 652 | 657 | 671 |
Other expenses and income | |||
Cost of sales including pre-publication costs and inventory expenses | 2,638 | 2,628 | 2,488 |
Operating lease rentals expense | 18 | 28 | 35 |
Operating lease rentals income | £ (3) | £ (3) | £ (6) |
Auditor's Remuneration - Disclo
Auditor's Remuneration - Disclosure of Detailed Information About Auditor's Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Auditors' remuneration | |||
Payable to the auditors | £ 10.4 | £ 7.9 | £ 7.7 |
Audit services | 6.8 | 6.8 | 6.2 |
Total audit and audit related assurance services | 7.7 | 7.6 | 6.8 |
Tax services | 0 | 0.4 | |
Total non-audit related services | 2.7 | 0.3 | 0.9 |
RELX PLC [member] | |||
Auditors' remuneration | |||
Payable to the auditors | 0.9 | 0.9 | 0.9 |
Audit services | 0.1 | 0.1 | |
Payable to the auditors of the Group's subsidiaries [member] | |||
Auditors' remuneration | |||
Payable to the auditors | 5.9 | 5.9 | 5.3 |
Audit-related assurance services [member] | |||
Auditors' remuneration | |||
Audit services | 0.9 | 0.8 | 0.6 |
Consulting [member] | |||
Auditors' remuneration | |||
Other services | 0 | 0.1 | |
Due diligence and other transaction-related services [member] | |||
Auditors' remuneration | |||
Other services | £ 2.7 | £ 0.3 | £ 0.4 |
Auditor's Remuneration - Additi
Auditor's Remuneration - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of auditors remuneration [line items] | |||
Audit related assurance services fee | £ 6.8 | £ 6.8 | £ 6.2 |
RELX PLC and RELX NV [member] | |||
Disclosure Of auditors remuneration [line items] | |||
Audit related assurance services fee | £ 0.1 | £ 0.1 |
Personnel - Disclosure of Detai
Personnel - Disclosure of Detailed Information About Number of People Employed (Detail) - Employee | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of number and average number of employees [line items] | |||
Number of employees | 32,100 | 31,000 | 31,200 |
Average number of employees | 31,800 | 31,200 | 30,600 |
North America [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 13,800 | 13,500 | 13,700 |
Average number of employees | 13,700 | 13,600 | 13,500 |
United Kingdom [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 5,200 | 5,000 | 4,900 |
Average number of employees | 5,100 | 5,000 | 4,800 |
Netherlands [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 1,200 | 1,300 | 1,400 |
Average number of employees | 1,300 | 1,400 | 1,500 |
Rest of Europe [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 2,800 | 2,800 | 2,800 |
Average number of employees | 2,800 | 2,800 | 2,800 |
Rest of world [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 9,100 | 8,400 | 8,400 |
Average number of employees | 8,900 | 8,400 | 8,000 |
Operating segments [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 31,300 | 30,200 | 30,400 |
Average number of employees | 31,000 | 30,400 | 29,700 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 7,900 | 7,500 | 7,500 |
Average number of employees | 7,700 | 7,500 | 7,300 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 8,700 | 8,100 | 8,200 |
Average number of employees | 8,600 | 8,200 | 7,900 |
Operating segments [member] | Legal [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 10,500 | 10,600 | 10,700 |
Average number of employees | 10,600 | 10,700 | 10,600 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 4,200 | 4,000 | 4,000 |
Average number of employees | 4,100 | 4,000 | 3,900 |
Corporate/shared functions [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 800 | 800 | 800 |
Average number of employees | 800 | 800 | 900 |
Pension Schemes - Additional In
Pension Schemes - Additional Information (Detail) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018GBP (£)yr | Dec. 31, 2017GBP (£)yr | Dec. 31, 2016GBP (£) | |
Disclosure of defined benefit plans [line items] | |||
Expected pension deficit funding contribution | £ 62 | ||
Pension cost recognised within operating profit | 135 | £ 95 | £ 111 |
Deferred tax assets | £ 455 | £ 431 | £ 469 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Percentage of actuarial valuations of pension | 100.00% | ||
Expected pension deficit funding contribution | £ 44 | ||
UK schemes [member] | United Kingdom [member] | |||
Disclosure of defined benefit plans [line items] | |||
Weighted average duration of defined benefit scheme liabilities | yr | 19 | 20 | |
Foreign schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Percentage of actuarial valuations of pension | 100.00% | ||
Additional contributions over a period | 7 years | ||
Foreign schemes [member] | US [member] | |||
Disclosure of defined benefit plans [line items] | |||
Weighted average duration of defined benefit scheme liabilities | yr | 12 | 13 | |
Defined benefit pension plans [member] | |||
Disclosure of defined benefit plans [line items] | |||
Deferred tax assets | £ 86 | £ 66 | |
Defined benefit pension plans [member] | 2019-2022 [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected pension deficit funding contribution | 176 | ||
Defined benefit pension plans [member] | 2020-2023 [member] | |||
Disclosure of defined benefit plans [line items] | |||
Expected pension deficit funding contribution | 132 | ||
Funded scheme [member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | 4,582 | 4,690 | |
Unfunded scheme [member] | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit obligation | £ 230 | £ 239 |
Pension Schemes - Schedule of D
Pension Schemes - Schedule of Defined Benefit and Defined Contribution Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Defined Benefit Plans [Abstract] | |||
Defined benefit pension expense (net of settlement and past service credits in 2018) | £ 47 | £ 4 | £ 36 |
Defined contribution pension expense | 95 | 91 | 75 |
Total | £ 142 | £ 95 | £ 111 |
Pension Schemes - Schedule of_2
Pension Schemes - Schedule of Defined Benefit Pension Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of defined benefit plans [line items] | |||
Service cost | £ 36 | £ 47 | £ 41 |
Settlement and past service credits | 11 | (43) | (5) |
Defined benefit pension expense | 47 | 4 | 36 |
Net interest on net defined benefit obligation | 9 | 15 | 14 |
Net defined benefit pension expense | 56 | 19 | 50 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 27 | 33 | 27 |
Settlement and past service credits | 11 | (42) | |
Defined benefit pension expense | 38 | (9) | 27 |
Net interest on net defined benefit obligation | 6 | 10 | 9 |
Net defined benefit pension expense | 44 | 1 | 36 |
Foreign schemes [member] | US [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 9 | 14 | 14 |
Settlement and past service credits | (1) | (5) | |
Defined benefit pension expense | 9 | 13 | 9 |
Net interest on net defined benefit obligation | 3 | 5 | 5 |
Net defined benefit pension expense | £ 12 | £ 18 | £ 14 |
Pension Schemes - Summary of De
Pension Schemes - Summary of Defined Benefit Pension Expense (Detail) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
UK schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 2.85% | 2.60% | 2.65% |
Inflation | 3.15% | 3.15% | 3.25% |
US [member] | Foreign schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 4.20% | 3.55% | 4.00% |
Inflation | 2.50% | 2.50% | 2.50% |
Pension Schemes - Summary of Av
Pension Schemes - Summary of Average Life Expectancy Assumptions (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
UK schemes [member] | Member currently aged sixty years [member] | United Kingdom [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 85 years |
Female average life expectancy | 88 years |
UK schemes [member] | Member currently aged forty five years [member] | United Kingdom [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 87 years |
Female average life expectancy | 90 years |
Foreign schemes [member] | Member currently aged sixty years [member] | US [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 86 years |
Female average life expectancy | 88 years |
Foreign schemes [member] | Member currently aged forty five years [member] | US [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 87 years |
Female average life expectancy | 89 years |
Pension Schemes - Amounts Recog
Pension Schemes - Amounts Recognised in the Statement of Financial Position in Respect of Defined Benefit Pension Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Service cost | £ (36) | £ (47) | £ (41) |
Actuarial (loss)/gain arising from experience assumptions | 6 | (38) | |
Settlement and past service credits | (11) | 43 | 5 |
Net interest on net defined benefit obligation | (9) | (15) | (14) |
Contributions by employer | 46 | 85 | |
Actuarial (losses)/gains on defined benefit pension schemes | (91) | 233 | (262) |
Exchange translation differences | (4) | 9 | |
Net defined benefit obligation, at the start of the year | (328) | (636) | |
Overall net pension obligation | (433) | (328) | (636) |
UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Service cost | (27) | (33) | (27) |
Actuarial (loss)/gain arising from experience assumptions | 4 | (39) | |
Settlement and past service credits | (11) | 42 | |
Net interest on net defined benefit obligation | (6) | (10) | (9) |
Contributions by employer | 39 | 42 | |
Actuarial (losses)/gains on defined benefit pension schemes | (89) | 187 | |
Net defined benefit obligation, at the start of the year | (265) | (493) | |
Overall net pension obligation | (359) | (265) | (493) |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (4,929) | (5,003) | |
Service cost | (36) | (47) | |
Past service credits | (11) | 43 | |
Actuarial gain/(loss) on financial assumptions | 176 | (16) | |
Net interest on net defined benefit obligation | (136) | (143) | |
Contributions by employees | (8) | (8) | |
Benefits paid | 187 | 183 | |
Exchange translation differences | (61) | 100 | |
At end of year | (4,812) | (4,929) | (5,003) |
Present value of defined benefit obligation [member] | UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (3,854) | (3,883) | |
Service cost | (27) | (33) | |
Past service credits | (11) | 42 | |
Actuarial gain/(loss) on financial assumptions | 91 | 45 | |
Net interest on net defined benefit obligation | (98) | (101) | |
Contributions by employees | (8) | (8) | |
Benefits paid | 131 | 123 | |
At end of year | (3,772) | (3,854) | (3,883) |
Fair value of scheme assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 4,601 | 4,367 | |
Net interest on net defined benefit obligation | 127 | 128 | |
Return on assets excluding amounts included in interest income | (273) | 287 | |
Contributions by employer | 46 | 85 | |
Contributions by employees | 8 | 8 | |
Benefits paid | (187) | (183) | |
Exchange translation differences | 57 | (91) | |
At end of year | 4,379 | 4,601 | 4,367 |
Fair value of scheme assets [member] | UK schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 3,589 | 3,390 | |
Net interest on net defined benefit obligation | 92 | 91 | |
Return on assets excluding amounts included in interest income | (184) | 181 | |
Contributions by employer | 39 | 42 | |
Contributions by employees | 8 | 8 | |
Benefits paid | (131) | (123) | |
At end of year | 3,413 | 3,589 | 3,390 |
US [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (328) | ||
Service cost | (9) | (14) | (14) |
Actuarial (loss)/gain arising from experience assumptions | 2 | 1 | |
Settlement and past service credits | 1 | 5 | |
Net interest on net defined benefit obligation | (3) | (5) | (5) |
Contributions by employer | 7 | 43 | |
Actuarial (losses)/gains on defined benefit pension schemes | (2) | 46 | |
Exchange translation differences | (4) | 9 | |
At end of year | (433) | (328) | |
Net defined benefit obligation, at the start of the year | (63) | (143) | |
Overall net pension obligation | (74) | (63) | (143) |
US [member] | Present value of defined benefit obligation [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (1,075) | (1,120) | |
Service cost | (9) | (14) | |
Past service credits | 1 | ||
Actuarial gain/(loss) on financial assumptions | 85 | (61) | |
Net interest on net defined benefit obligation | (38) | (42) | |
Benefits paid | 56 | 60 | |
Exchange translation differences | (61) | 100 | |
At end of year | (1,040) | (1,075) | (1,120) |
US [member] | Fair value of scheme assets [member] | Foreign schemes [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 1,012 | 977 | |
Net interest on net defined benefit obligation | 35 | 37 | |
Return on assets excluding amounts included in interest income | (89) | 106 | |
Contributions by employer | 7 | 43 | |
Benefits paid | (56) | (60) | |
Exchange translation differences | 57 | (91) | |
At end of year | £ 966 | £ 1,012 | £ 977 |
Pension Schemes - Summary of Ne
Pension Schemes - Summary of Net Pension Obligations and Net Pension Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of defined benefit plans [line items] | |||
Net pension assets | £ 6 | £ 22 | |
Net pension obligation | (439) | (350) | £ (636) |
US [member] | Foreign schemes [member] | |||
Disclosure of defined benefit plans [line items] | |||
Net pension assets | 6 | 22 | |
Net pension obligation | (439) | (350) | |
Overall net pension obligation | £ (433) | £ (328) |
Pension Schemes - Amounts Rec_2
Pension Schemes - Amounts Recognised in Statement of Comprehensive Income (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gains and losses arising during the year: | |||
Experience gains/(losses) on scheme liabilities | £ 6 | £ (38) | £ 25 |
Experience (losses)/gains on scheme assets | (273) | 287 | 548 |
Actuarial (losses)/gains on defined benefit pension schemes | (91) | 233 | (262) |
Net cumulative losses at start of year | (613) | (846) | (584) |
Net cumulative losses at end of year | (704) | (613) | (846) |
Discount rates [member] | |||
Gains and losses arising during the year: | |||
Actuarial gain/(loss) on financial assumptions | 242 | (102) | (873) |
Inflation [member] | |||
Gains and losses arising during the year: | |||
Actuarial gain/(loss) on financial assumptions | 69 | (96) | |
Other actuarial assumptions [member] | |||
Gains and losses arising during the year: | |||
Actuarial gain/(loss) on financial assumptions | £ (66) | £ 17 | £ 134 |
Pension Schemes - Summary of Fa
Pension Schemes - Summary of Fair Value of Scheme Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of fair value of plan assets [line items] | ||
Equities | £ 1,243 | £ 1,395 |
Government bonds | 1,448 | 1,616 |
Corporate bonds | 607 | 622 |
Property funds and ground leases | 723 | 620 |
Structured debt and direct lending | 290 | 253 |
Cash and cash equivalents | 30 | 64 |
Other | 38 | 31 |
Total | 4,379 | 4,601 |
UK schemes [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 1,128 | 1,252 |
Government bonds | 1,224 | 1,395 |
Property funds and ground leases | 723 | 620 |
Structured debt and direct lending | 290 | 253 |
Cash and cash equivalents | 26 | 46 |
Other | 22 | 23 |
Total | 3,413 | 3,589 |
Foreign schemes [member] | US [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 115 | 143 |
Government bonds | 224 | 221 |
Corporate bonds | 607 | 622 |
Cash and cash equivalents | 4 | 18 |
Other | 16 | 8 |
Total | £ 966 | £ 1,012 |
Pension Schemes - Sensitivity A
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Detail) £ in Millions | Dec. 31, 2018GBP (£) |
Actuarial assumption of discount rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations | £ 207 |
Actuarial assumption of expected rates of inflation [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations | 94 |
Actuarial assumption of Mortality Rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Effect of increase/decrease in actuarial assumption on defined benefit pension obligations | £ 177 |
Pension Schemes - Sensitivity_2
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Actuarial assumption of discount rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase/decrease in actuarial assumption, percentage | 0.25% |
Actuarial assumption of expected rates of inflation [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase/decrease in actuarial assumption, percentage | 0.25% |
Actuarial assumption of Mortality Rates [member] | |
Disclosure Of Sensitivity Analysis For Actuarial Assumptions [Line Items] | |
Increase/decrease in actuarial assumption, period | 1 year |
Net Finance Costs - Summary of
Net Finance Costs - Summary of Net Finance Costs (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Finance Costs [Abstract] | |||
Interest on short-term bank loans, overdrafts and commercial paper | £ (22) | £ (10) | £ (15) |
Interest on term debt | (161) | (154) | (161) |
Interest on lease liabilities | (14) | (17) | (18) |
Total borrowing costs | (197) | (181) | (194) |
Losses on loans and derivatives not designated as hedges | (10) | (9) | (15) |
Fair value losses on designated fair value hedge relationships | (1) | ||
Net interest on net defined benefit obligation | (9) | (15) | (14) |
Finance costs | (217) | (205) | (223) |
Interest on bank deposits | 4 | 3 | 6 |
Interest income on net finance lease receivables | 2 | 2 | 2 |
Fair value gains on designated fair value hedge relationships | 1 | ||
Gains on loans and derivatives not designated as hedges | 2 | ||
Finance income | 6 | 6 | 10 |
Net finance costs | £ (211) | £ (199) | £ (213) |
Net Finance Costs - Additional
Net Finance Costs - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest Costs [Abstract] | |||
Net gain (loss) on interest rate derivatives designated as cash flow hedges | £ (8) | £ 63 | £ (26) |
Hedge reserve reclassified to income statement | £ 3 | 65 | (27) |
Gain (loss) related to foreign exchange movements on debt hedges | 78 | (18) | |
Offset of foreign exchange gains (loss)on the related debt | £ 78 | £ 18 |
Disposals and other non-opera_3
Disposals and other non-operating items - Summary of Disposals and Other Non-operating Items (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Disposals And Nonoperating Items [Abstract] | |||
Revaluation of investments | £ (11) | £ 5 | £ (13) |
(Loss)/Gain on disposal of businesses and assets held for sale | (22) | 10 | (23) |
Net (loss)/gain on disposals and other non-operating items | £ (33) | £ 15 | £ (36) |
Taxation - Summary of Tax Expen
Taxation - Summary of Tax Expense (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current tax | |||
Current tax | £ (297) | £ (439) | £ (374) |
Deferred tax | 5 | 374 | 73 |
Tax expense | (292) | (65) | (301) |
United Kingdom [member] | |||
Current tax | |||
Current tax | (71) | (104) | (80) |
Netherlands [member] | |||
Current tax | |||
Current tax | (72) | (77) | (51) |
Rest of world [member] | |||
Current tax | |||
Current tax | £ (154) | £ (258) | £ (243) |
Taxation - Additional Informati
Taxation - Additional Information (Detail) - GBP (£) £ in Millions | Jan. 01, 2021 | Apr. 01, 2020 | Jan. 01, 2020 | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Tax paid (net) | £ 415 | £ 449 | £ 402 | ||||
Applicable tax rate | 19.90% | 22.60% | 22.40% | ||||
Reported tax rate | 17.00% | 3.80% | 20.60% | ||||
Unused trading losses [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Unused losses for which no deferred tax asset has been recognised | £ 213 | £ 143 | |||||
Deferred tax asset not recognised | 52 | 34 | |||||
Unrecognised losses expiration within 10 years | 93 | 30 | |||||
Unrecognised losses expiration more than 10 years | 121 | 113 | |||||
Unused tax losses and other temporary differences [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Unused losses for which no deferred tax asset has been recognised | 24 | 23 | |||||
Deferred tax asset not recognised which can only be used to offset future capital gains | £ 4 | £ 4 | |||||
United Kingdom [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Applicable tax rate | 19.00% | ||||||
Reported tax rate | 17.00% | 3.80% | 20.60% | ||||
United Kingdom [member] | Changes in tax rates or tax laws enacted or announced [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Applicable tax rate | 17.00% | ||||||
US [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Federal corporate tax rate | 35.00% | ||||||
Deferred tax charge in other comprehensive income | £ 1 | ||||||
US [member] | Changes in tax rates or tax laws enacted or announced [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Federal corporate tax rate | 21.00% | ||||||
Netherlands [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Applicable tax rate | 25.00% | ||||||
Deferred tax credit | £ 8 | £ 346 | £ 1 | ||||
Netherlands [member] | Changes in tax rates or tax laws enacted or announced [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Applicable tax rate | 20.50% | 22.55% | |||||
Weighted average [member] | |||||||
Disclosure Of Income Tax Expenses [Line Items] | |||||||
Applicable tax rate | 19.90% | 22.60% | 22.40% |
Taxation - Weighted Average of
Taxation - Weighted Average of Tax Rates Applicable to Accounting Profits and Losses (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract] | |||
Profit before tax | £ 1,720 | £ 1,721 | £ 1,459 |
Tax at average applicable rates | (342) | (389) | (326) |
Tax effect of share of results of joint ventures | 8 | 7 | 7 |
Expenses not deductible for tax purposes | (24) | (15) | (19) |
US state taxes | (19) | (18) | (13) |
Non-deductible costs of share based remuneration | (1) | (1) | (1) |
Non-deductible disposal-related gains and losses | (36) | (8) | |
Deferred tax assets of the period not recognised | (24) | (10) | (2) |
Change in recognition of deferred tax assets or liabilities | (15) | 16 | 33 |
Other adjustments in respect of prior periods | 13 | 35 | 28 |
Exceptional tax credit | 112 | 346 | |
Tax expense | £ (292) | £ (65) | £ (301) |
Tax at average applicable rates | 19.90% | 22.60% | 22.40% |
Tax effect of share of results of joint ventures | (0.50%) | (0.40%) | (0.50%) |
Expenses not deductible for tax purposes | 1.40% | 0.90% | 1.30% |
US state taxes | 1.10% | 1.00% | 0.90% |
Non-deductible costs of share based remuneration | 0.10% | 0.10% | 0.10% |
Non-deductible disposal-related gains and losses | 0.00% | 2.10% | 0.50% |
Deferred tax assets of the period not recognised | 1.40% | 0.60% | 0.10% |
Change in recognition of deferred tax assets or liabilities | 0.90% | (0.90%) | (2.30%) |
Other adjustments in respect of prior periods | (0.80%) | (2.10%) | (1.90%) |
Exceptional tax credit | (6.50%) | (20.10%) | 0.00% |
Tax expense | 17.00% | 3.80% | 20.60% |
Taxation - Tax Recognised in Ot
Taxation - Tax Recognised in Other Comprehensive Income or Directly in Equity (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Tax on items that may be reclassified to profit or loss | |||
Tax on actuarial movements on defined benefit pension schemes | £ 15 | £ (59) | £ 45 |
Tax on fair value movements on cash flow hedges | 9 | (30) | 19 |
Net tax (debit)/credit recognised in other comprehensive income | 24 | (89) | 64 |
Tax credit on share based remuneration recognised directly in equity | £ (3) | £ 8 | £ 10 |
Taxation - Summary of Deferred
Taxation - Summary of Deferred Tax Liabilities and Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred Tax Assets And Liabilities [Abstract] | |||
Deferred tax assets | £ 455 | £ 431 | £ 469 |
Deferred tax liabilities | (830) | (738) | (1,137) |
Total | £ (375) | £ (307) | £ (668) |
Taxation - Movements in Deferre
Taxation - Movements in Deferred Tax Liabilities and Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | £ (307) | £ (668) |
Credit/(charge) to profit | 5 | 374 |
(Charge)/credit to equity/other comprehensive income | 12 | (89) |
Acquisitions | (51) | (2) |
Exchange translation differences | (34) | 78 |
Deferred tax (liability)/asset at end of year | (375) | (307) |
Excess of tax allowances over amortisation [member] | Deferred tax liabilities [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | (267) | (393) |
Credit/(charge) to profit | 75 | 97 |
Exchange translation differences | (12) | 29 |
Deferred tax (liability)/asset at end of year | (204) | (267) |
Acquired intangible assets [member] | Deferred tax liabilities [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | (426) | (767) |
Credit/(charge) to profit | 13 | 298 |
Acquisitions | (88) | (2) |
Exchange translation differences | (26) | 45 |
Deferred tax (liability)/asset at end of year | (527) | (426) |
Other temporary differences [member] | Deferred tax liabilities [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | (302) | (338) |
Credit/(charge) to profit | 13 | 2 |
(Charge)/credit to equity/other comprehensive income | 7 | |
Exchange translation differences | (17) | 27 |
Deferred tax (liability)/asset at end of year | (306) | (302) |
Other temporary differences [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 278 | 352 |
Credit/(charge) to profit | (16) | (30) |
(Charge)/credit to equity/other comprehensive income | (3) | (20) |
Exchange translation differences | 14 | (24) |
Deferred tax (liability)/asset at end of year | 273 | 278 |
Excess of amortisation over tax allowances [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 257 | 263 |
Credit/(charge) to profit | (51) | (15) |
Exchange translation differences | 1 | 9 |
Deferred tax (liability)/asset at end of year | 207 | 257 |
Tax losses carried forward [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 87 | 70 |
Credit/(charge) to profit | (32) | 22 |
Acquisitions | 37 | |
Exchange translation differences | 4 | (5) |
Deferred tax (liability)/asset at end of year | 96 | 87 |
Pension balances [member] | Deferred tax assets [member] | ||
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items] | ||
Deferred tax (liability)/asset at start of year | 66 | 145 |
Credit/(charge) to profit | 3 | |
(Charge)/credit to equity/other comprehensive income | 15 | (76) |
Exchange translation differences | 2 | (3) |
Deferred tax (liability)/asset at end of year | £ 86 | £ 66 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share - 2018, 2017 and 2016 (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Net profit attributable to RELX PLC shareholders | £ 1,422 | £ 1,648 | £ 1,150 |
Weighted average number of shares, Basic | 1,977.2 | 2,019.4 | 2,062.3 |
EPS, Basic | £ 0.719 | £ 0.816 | £ 0.558 |
Net profit attributable to RELX PLC shareholders | £ 1,422 | £ 1,648 | £ 1,150 |
Weighted average number of shares, Diluted | 1,990.8 | 2,035.2 | 2,079.8 |
EPS, Diluted | £ 0.714 | £ 0.810 | £ 0.553 |
Earnings Per Share - Summary _2
Earnings Per Share - Summary of Adjusted Earnings Per Share (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||
Adjusted net profit attributable to RELX PLC shareholders | £ 1,674 | £ 1,620 | £ 1,473 |
Weighted average number of shares | 1,977.2 | 2,019.4 | 2,062.3 |
Adjusted EPS | £ 0.847 | £ 0.802 | £ 0.714 |
Earnings Per Share - Summary _3
Earnings Per Share - Summary of Reconciliation of Adjusted Net Profit Attributable to Parent (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |||
RELX PLC shareholders | £ 1,422 | £ 1,648 | £ 1,150 |
Adjustments (post-tax): | |||
Amortisation of acquired intangible assets | 322 | 356 | 364 |
Acquisition-related costs | 71 | 43 | 38 |
Net financing charge on defined benefit pension schemes | 7 | 11 | 10 |
Disposals and other non-operating items | 19 | 1 | 2 |
Other deferred tax credits from intangible assets | (55) | (93) | (91) |
Exceptional tax credit | (112) | (346) | |
Adjusted net profit attributable to RELX PLC shareholders | £ 1,674 | £ 1,620 | £ 1,473 |
Statement of cash flows - Sched
Statement of cash flows - Schedule of Reconciliation of Profit Before Tax to Cash Generated from Operations (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Profit before tax | £ 1,720 | £ 1,721 | £ 1,459 |
Disposals and other non-operating items | 33 | (15) | 36 |
Net finance costs | 211 | 199 | 213 |
Operating profit | 1,964 | 1,905 | 1,708 |
Share of results of joint ventures | (32) | (37) | (37) |
Amortisation of acquired intangible assets | 287 | 313 | 342 |
Amortisation of internally developed intangible assets | 225 | 203 | 189 |
Depreciation of property, plant and equipment | 62 | 65 | 62 |
Depreciation of right of use asset | 77 | 75 | 74 |
Share based remuneration | 41 | 39 | 38 |
Total non-cash items | 692 | 695 | 705 |
Decrease/(increase) in inventories and pre-publication costs | (7) | 2 | (24) |
Decrease/(increase) in receivables | (89) | 37 | (145) |
(Decrease)/increase in payables | 27 | (76) | 104 |
Increase in working capital | (69) | (37) | (65) |
Cash generated from operations | £ 2,555 | £ 2,526 | £ 2,311 |
Statement of cash flows - Sch_2
Statement of cash flows - Schedule of Cash Flow on Acquisitions (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Purchase of businesses | £ (919) | £ (117) | £ (336) |
Investment in joint ventures | (1) | (1) | |
Deferred payments relating to prior year acquisitions | (16) | (13) | (24) |
Total | £ (935) | £ (131) | £ (361) |
Statement of cash flows - Sch_3
Statement of cash flows - Schedule of Reconciliation of Net Borrowings (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Cash Flow Statement [line items] | |||
Cash and cash equivalents at start of year | £ (111) | £ (162) | £ (122) |
Borrowings at start of year | (5,253) | ||
Net borrowings at start of year | (5,042) | (5,050) | (4,095) |
(Decrease)/increase in cash and cash equivalents | 1 | (45) | 9 |
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | (147) | 148 | (271) |
Issuance of term debt | (958) | (873) | (603) |
Repayment of term debt | 211 | 712 | 474 |
Repayment of finance leases | 81 | 78 | 74 |
Change in net borrowings resulting from cash flows | (812) | 20 | (317) |
Borrowings in acquired businesses | (12) | ||
Remeasurement and derecognition of leases | (12) | (6) | (14) |
Inception of leases | (28) | (36) | (49) |
Fair value and other adjustments to borrowings and related derivatives | (25) | (11) | (24) |
Cash and cash equivalents, exchange translation differences | (2) | 6 | (31) |
Exchange translation differences | (246) | 41 | (551) |
Cash and cash equivalents at end of year | (114) | (111) | (162) |
Borrowings at end of year | (6,365) | (5,253) | |
At end of year | (6,177) | (5,042) | £ (5,050) |
Cash and cash equivalents [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
Cash and cash equivalents at start of year | 111 | ||
(Decrease)/increase in cash and cash equivalents | 1 | ||
Change in net borrowings resulting from cash flows | 1 | ||
Cash and cash equivalents, exchange translation differences | 2 | ||
Cash and cash equivalents at end of year | 114 | 111 | |
Borrowings [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
Borrowings at start of year | (5,253) | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | (147) | ||
Issuance of term debt | (958) | ||
Repayment of term debt | 211 | ||
Repayment of finance leases | 95 | ||
Change in net borrowings resulting from cash flows | (799) | ||
Borrowings in acquired businesses | (12) | ||
Remeasurement and derecognition of leases | (12) | ||
Inception of leases | (31) | ||
Fair value and other adjustments to borrowings and related derivatives | (7) | ||
Exchange translation differences | (251) | ||
Borrowings at end of year | (6,365) | (5,253) | |
Related derivative financial instruments [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
Derivatives at start of year | 43 | ||
Fair value and other adjustments to borrowings and related derivatives | (18) | ||
Derivatives at end of year | 25 | 43 | |
finance lease receivable [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
Net borrowings at start of year | 57 | ||
Repayment of finance leases | (14) | ||
Change in net borrowings resulting from cash flows | (14) | ||
Inception of leases | 3 | ||
Exchange translation differences | 3 | ||
At end of year | £ 49 | £ 57 |
Acquisitions - Consideration Pa
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Business Combinations [Abstract] | |||
Goodwill | £ 626 | £ 77 | £ 222 |
Intangible assets | 423 | 56 | 189 |
Property, plant and equipment | 5 | 1 | |
Current assets | 24 | 3 | 12 |
Non current assets | 12 | ||
Current liabilities | (72) | (16) | (20) |
Borrowings | (12) | ||
Deferred tax | (51) | (2) | (35) |
Net assets acquired | 955 | 118 | 369 |
Consideration (after taking account of £27m (2017: £7m; 2016: £10m) net cash acquired) | 955 | 118 | 369 |
Less: consideration deferred to future years | (36) | (1) | (15) |
Less: acquisition date fair value of equity interest | (18) | ||
Net cash flow | £ 919 | £ 117 | £ 336 |
Acquisitions - Consideration _2
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Parenthetical) (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Business Combinations [Abstract] | |||
Cash of acquired businesses at acquisition date | £ 27 | £ 7 | £ 10 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Feb. 21, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Business Combinations [Line Items] | ||||
Consideration (after taking account of net cash acquired) | £ 955 | £ 118 | £ 369 | |
Goodwill | 626 | 77 | 222 | |
Intangible assets | 423 | 56 | 189 | |
Acquisition relating to trade and other payables | 72 | 16 | 20 | |
Net deferred tax liabilities recognised as of acquisition date | 51 | £ 2 | £ 35 | |
Revenue contributed by business acquisition | 98 | |||
Increased adjusted operating profit | 7 | |||
Decreased net profit | 34 | |||
Integration costs and amortisation of acquired intangibles | 41 | |||
Net cash inflow from operating activities contributed by business acquisition | 4 | |||
Group revenue, pro forma basis | 7,531 | |||
Adjusted operating profit, pro forma basis | 2,347 | |||
Adjusted net profit, pro forma basis | £ 1,420 | |||
ThreatMetrix [member] | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Share capital acquired | 100.00% | |||
Consideration (after taking account of net cash acquired) | £ 585 | |||
Goodwill | 373 | |||
Intangible assets | 279 | |||
Acquisition relating to trade and other payables | 41 | |||
Net deferred tax liabilities recognised as of acquisition date | £ 34 |
Equity Dividends - Ordinary Div
Equity Dividends - Ordinary Dividends Paid (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Dividends [line items] | |||
Ordinary dividends paid | £ 796 | £ 762 | £ 683 |
RELX PLC [member] | |||
Disclosure of Dividends [line items] | |||
Ordinary dividends paid | 420 | 400 | 356 |
RELX NV [member] | |||
Disclosure of Dividends [line items] | |||
Ordinary dividends paid | £ 376 | £ 362 | £ 327 |
Equity Dividends - Additional I
Equity Dividends - Additional Information (Detail) £ / shares in Units, £ in Millions | 12 Months Ended | |||||
Dec. 31, 2018GBP (£)£ / shares | Dec. 31, 2018GBP (£)€ / shares | Dec. 31, 2017£ / shares | Dec. 31, 2017€ / shares | Dec. 31, 2016£ / shares | Dec. 31, 2016€ / shares | |
Disclosure of Dividends [line items] | ||||||
Dividend payables | £ | £ 583 | £ 583 | ||||
RELX PLC [member] | ||||||
Disclosure of Dividends [line items] | ||||||
Final dividend | £ 0.277 | £ 0.257 | £ 0.223 | |||
Interim dividend | 0.124 | 0.117 | 0.1025 | |||
Total dividends | 0.401 | 0.374 | 0.3255 | |||
Final dividend proposed | 0.297 | 0.277 | 0.257 | |||
Dividend proposed | £ 0.421 | £ 0.394 | £ 0.3595 | |||
RELX NV [member] | ||||||
Disclosure of Dividends [line items] | ||||||
Final dividends payment to former shareholders | € / shares | £ 0.316 | € 0.301 | € 0.288 | |||
Interim dividend payment to former shareholders | € / shares | £ 0.140 | € 0.132 | € 0.122 |
Goodwill - Summary of Changes i
Goodwill - Summary of Changes in Goodwill (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Reconciliation Of Changes In Goodwill [Abstract] | ||
At start of year | £ 5,965 | £ 6,392 |
Acquisitions | 626 | 77 |
Disposals/reclassified as held for sale | (25) | (72) |
Transfers | 11 | |
Exchange translation differences | 333 | (443) |
At end of year | £ 6,899 | £ 5,965 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 6,899,000,000 | £ 5,965,000,000 | £ 6,392,000,000 |
Impairment of goodwill | £ 0 | 0 | |
Nominal long-term market growth rates maximum forecast period | 5 years | ||
Increase in discount rate | 0.50% | ||
Decrease in the compound annual growth rate for cash flow | 2.00% | ||
Decrease in nominal long-term market growth rates | 0.50% | ||
Impairment charges result from sensitivity analysis | £ 0 | ||
Description of changes in methods and assumptions used in preparing sensitivity analysis | A sensitivity analysis has been performed based on changes in key assumptions considered to be reasonably possible by management: an increase in the discount rate of 0.5%, a decrease in the compound annual growth rate for cash flow in the five-year forecast period of 2.0%, and a decrease in the nominal long-term market growth rates of 0.5%. The sensitivity analysis shows that no impairment charges would result from these scenarios. | ||
Accumulated amortisation [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 1,222,000,000 | 1,173,000,000 | |
Accumulated impairment [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 9,000,000 | £ 9,000,000 |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill by Segment (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 6,899 | £ 5,965 | £ 6,392 |
Scientific, Technical & Medical [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 1,620 | 1,479 | |
Risk & Business Analytics [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 3,283 | 2,595 | |
Legal [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | 1,465 | 1,390 | |
Exhibitions [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Goodwill | £ 531 | £ 501 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used for Each Group of Cash Generating Units (Detail) | Dec. 31, 2018 | Dec. 31, 2017 |
Scientific, Technical & Medical [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 10.00% | 10.10% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Risk & Business Analytics [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 11.50% | 12.30% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Legal [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 12.20% | 12.70% |
Nominal long-term market growth rate | 2.00% | 2.00% |
Exhibitions [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 12.70% | 12.60% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | £ 3,534 | £ 3,194 | £ 3,604 |
Market and customer-related [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Finite-lived intangible assets, useful life | 3 | ||
Market and customer-related [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Finite-lived intangible assets, useful life | 40 years | ||
Content, software and other [member] | Acquired pre-IFRS [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | £ 80 | 120 | |
Content, software and other [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Finite-lived intangible assets, useful life | 3 | ||
Content, software and other [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Finite-lived intangible assets, useful life | 20 years | ||
Internally developed intangible assets [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Finite-lived intangible assets, useful life | 3 | ||
Internally developed intangible assets [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Finite-lived intangible assets, useful life | 10 years | ||
Scientific, Technical & Medical [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets with indefinite useful lives | £ 119 | £ 112 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | £ 3,194 | £ 3,604 |
Intangible assets other than goodwill at end of period | 3,534 | 3,194 |
Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 9,702 | 10,101 |
Acquisitions | 423 | 56 |
Additions | 304 | 304 |
Disposals/reclassified as held for sale | (174) | (144) |
Transfers | (23) | |
Exchange translation differences | 440 | (592) |
Intangible assets other than goodwill at end of period | 10,695 | 9,702 |
Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 6,508 | 6,497 |
Charge for the year | 512 | 516 |
Disposals/reclassified as held for sale | (137) | (131) |
Exchange translation differences | 278 | (374) |
Intangible assets other than goodwill at end of period | 7,161 | 6,508 |
Acquired intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 2,058 | |
Intangible assets other than goodwill at end of period | 2,317 | 2,058 |
Acquired intangible assets [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 7,011 | 7,551 |
Acquisitions | 423 | 56 |
Disposals/reclassified as held for sale | (26) | (102) |
Transfers | (23) | |
Exchange translation differences | 341 | (471) |
Intangible assets other than goodwill at end of period | 7,749 | 7,011 |
Acquired intangible assets [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 4,953 | 5,032 |
Charge for the year | 287 | 313 |
Disposals/reclassified as held for sale | (26) | (88) |
Exchange translation differences | 218 | (304) |
Intangible assets other than goodwill at end of period | 5,432 | 4,953 |
Acquired intangible assets [member] | Market and customer-related [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,612 | |
Intangible assets other than goodwill at end of period | 1,859 | 1,612 |
Acquired intangible assets [member] | Market and customer-related [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 3,519 | 3,872 |
Acquisitions | 310 | 32 |
Disposals/reclassified as held for sale | (15) | (26) |
Transfers | (50) | |
Exchange translation differences | 211 | (309) |
Intangible assets other than goodwill at end of period | 4,025 | 3,519 |
Acquired intangible assets [member] | Market and customer-related [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,907 | 1,893 |
Charge for the year | 169 | 188 |
Disposals/reclassified as held for sale | (15) | (16) |
Exchange translation differences | 105 | (158) |
Intangible assets other than goodwill at end of period | 2,166 | 1,907 |
Acquired intangible assets [member] | Content, software and other [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 446 | |
Intangible assets other than goodwill at end of period | 458 | 446 |
Acquired intangible assets [member] | Content, software and other [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 3,492 | 3,679 |
Acquisitions | 113 | 24 |
Disposals/reclassified as held for sale | (11) | (76) |
Transfers | 27 | |
Exchange translation differences | 130 | (162) |
Intangible assets other than goodwill at end of period | 3,724 | 3,492 |
Acquired intangible assets [member] | Content, software and other [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 3,046 | 3,139 |
Charge for the year | 118 | 125 |
Disposals/reclassified as held for sale | (11) | (72) |
Exchange translation differences | 113 | (146) |
Intangible assets other than goodwill at end of period | 3,266 | 3,046 |
Internally developed intangible assets [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,136 | |
Intangible assets other than goodwill at end of period | 1,217 | 1,136 |
Internally developed intangible assets [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 2,691 | 2,550 |
Additions | 304 | 304 |
Disposals/reclassified as held for sale | (148) | (42) |
Exchange translation differences | 99 | (121) |
Intangible assets other than goodwill at end of period | 2,946 | 2,691 |
Internally developed intangible assets [member] | Accumulated amortisation [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets other than goodwill at beginning of period | 1,555 | 1,465 |
Charge for the year | 225 | 203 |
Disposals/reclassified as held for sale | (111) | (43) |
Exchange translation differences | 60 | (70) |
Intangible assets other than goodwill at end of period | £ 1,729 | £ 1,555 |
Investments - Summary of Invest
Investments - Summary of Investments (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Investment [line items] | |||
Investments in joint ventures | £ 104 | £ 102 | £ 102 |
Investments [member] | |||
Investment [line items] | |||
Investments in joint ventures | 104 | 102 | |
Available for sale investments | 2 | ||
Venture capital investments | 151 | 139 | |
Total | £ 255 | £ 243 |
Investments - Summary of Analys
Investments - Summary of Analysis of Changes in Carrying Value of Investments in Joint Ventures (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Analysis Of Changes In The Carrying Value Of Investments In Joint Ventures [Abstract] | |||
At start of year | £ 102 | £ 102 | |
Share of results of joint ventures | 32 | 37 | |
Dividends received from joint ventures | (30) | (38) | £ (44) |
Additions | 2 | 2 | |
Exchange translation differences | (2) | (1) | |
At end of year | £ 104 | £ 102 | £ 102 |
Investments - Summary of Group'
Investments - Summary of Group's Share of Joint Ventures (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Revenue | £ 7,492 | £ 7,341 | £ 6,889 |
Net profit for the year | 32 | 37 | |
Total assets | 13,999 | 12,632 | 13,714 |
Total liabilities | (11,640) | (10,319) | (11,406) |
Net assets | 2,359 | 2,313 | 2,308 |
Goodwill | 6,899 | 5,965 | 6,392 |
Total | 104 | 102 | 102 |
Joint ventures [member] | |||
Disclosure Of Summary Of Group Share Of Joint Ventures [Line Items] | |||
Revenue | 101 | 101 | |
Net profit for the year | 32 | 37 | £ 37 |
Total assets | 96 | 85 | |
Total liabilities | (49) | (42) | |
Net assets | 47 | 43 | |
Goodwill | 57 | 59 | |
Total | £ 104 | £ 102 |
Property, Plant and Equipment -
Property, Plant and Equipment - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | £ 198,000,000 | £ 194,000,000 | £ 223,000,000 |
Freehold land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation | 0 | 0 | |
Property, plant and equipment | £ 14,000,000 | £ 14,000,000 | |
Freehold buildings [Member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 50 years | ||
Long lease [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 50 years | ||
Leasehold improvements [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | shorter of life of lease and 10 years | ||
Plant [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 20 years | ||
Plant [member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | P3Y | ||
Office furniture, fixtures and fittings [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 10 years | ||
Office furniture, fixtures and fittings [member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | P5Y | ||
Computer systems, communication networks and equipment [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 7 years | ||
Computer systems, communication networks and equipment [member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | P3Y |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | £ 194 | £ 223 |
At end of year | 198 | 194 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 816 | 861 |
Acquisitions | 5 | |
Capital expenditure | 56 | 51 |
Disposals/reclassified as held for sale | (48) | (43) |
Exchange translation differences | 34 | (53) |
At end of year | 863 | 816 |
Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 622 | 638 |
Charge for the year | 62 | 65 |
Disposals/reclassified as held for sale | (46) | (40) |
Exchange translation differences | 27 | (41) |
At end of year | 665 | 622 |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 80 | |
At end of year | 77 | 80 |
Land and buildings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 217 | 231 |
Capital expenditure | 5 | 5 |
Disposals/reclassified as held for sale | (8) | (3) |
Exchange translation differences | 9 | (16) |
At end of year | 223 | 217 |
Land and buildings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 137 | 139 |
Charge for the year | 9 | 9 |
Disposals/reclassified as held for sale | (6) | (1) |
Exchange translation differences | 6 | (10) |
At end of year | 146 | 137 |
Fixtures and fittings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 114 | |
At end of year | 121 | 114 |
Fixtures and fittings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 599 | 630 |
Acquisitions | 5 | |
Capital expenditure | 51 | 46 |
Disposals/reclassified as held for sale | (40) | (40) |
Exchange translation differences | 25 | (37) |
At end of year | 640 | 599 |
Fixtures and fittings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 485 | 499 |
Charge for the year | 53 | 56 |
Disposals/reclassified as held for sale | (40) | (39) |
Exchange translation differences | 21 | (31) |
At end of year | £ 519 | £ 485 |
Financial Instruments - Liquidi
Financial Instruments - Liquidity Risk - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018GBP (£) | Dec. 31, 2017GBP (£) | Dec. 31, 2018USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |||
Maximum maturity amount of short-term debt | £ 1,500,000,000 | ||
Committed bank facility | £ 2,354,000,000 | $ 3,000 | |
Committed bank facility maturity period | 2 years | ||
Tranche One [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Committed bank facility | £ 1,373,000,000 | 1,750 | |
Committed bank facility maturity date | 2023-07 | ||
Tranche Two [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Committed bank facility | £ 981,000,000 | $ 1,250 | |
Committed bank facility maturity date | 2021-07 | ||
Derivatives not designated as hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative instruments not designated as hedging instruments, at fair value | £ 13,000,000 | £ 12,000,000 | |
Financial instruments designated as hedging instruments, at fair value | 7,000,000 | 14,000,000 | |
Fair value hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial liabilities | 15,000,000 | 15,000,000 | |
Derivative financial assets | 33,000,000 | 20,000,000 | |
Cash flow hedges [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Derivative financial liabilities | 41,000,000 | 30,000,000 | |
Derivative financial assets | £ 7,000,000 | £ 81,000,000 | |
Bottom of range [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Minimum levels of maintained borrowing maturities | 3 years | ||
Top of range [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Minimum levels of maintained borrowing maturities | 5 years |
Financial Instruments - Summary
Financial Instruments - Summary of Remaining Contractual Maturities for Borrowings and Derivative Financial Instruments (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | £ (6,365) | £ (5,253) |
Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (1,392) | (762) |
1-2 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (595) | (678) |
2-3 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (521) | (582) |
3-4 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (730) | (502) |
4-5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (696) | (658) |
More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (2,341) | (2,071) |
Fixed rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (6,080) | (5,130) |
Fixed rate borrowings [member] | Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (752) | (331) |
Fixed rate borrowings [member] | 1-2 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (610) | (703) |
Fixed rate borrowings [member] | 2-3 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (552) | (575) |
Fixed rate borrowings [member] | 3-4 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (879) | (518) |
Fixed rate borrowings [member] | 4-5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (732) | (805) |
Fixed rate borrowings [member] | More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (2,555) | (2,198) |
Lease liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (411) | (450) |
Lease liabilities [member] | Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (104) | (100) |
Lease liabilities [member] | 1-2 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (92) | (91) |
Lease liabilities [member] | 2-3 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (75) | (79) |
Lease liabilities [member] | 3-4 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (47) | (64) |
Lease liabilities [member] | 4-5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (30) | (34) |
Lease liabilities [member] | More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (63) | (82) |
Floating rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (690) | (469) |
Floating rate borrowings [member] | Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (686) | (464) |
Floating rate borrowings [member] | More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Contractual cash flow from borrowings | (4) | (5) |
Carrying amount [member] | Fixed rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (5,315) | (4,393) |
Carrying amount [member] | Lease liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (360) | (391) |
Carrying amount [member] | Floating rate borrowings [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Borrowings | (690) | (469) |
Contractual cash flow [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (7,281) | (6,073) |
Contractual cash flow [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (19) | (870) |
Derivative financial assets | 37 | 35 |
Contractual cash flow [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (707) | (2,795) |
Derivative financial assets | 635 | 828 |
Contractual cash flow [member] | Forward foreign exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2,079) | |
Derivative financial assets | 2,033 | 2,796 |
Contractual cash flow [member] | Within 1 year [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (1,572) | (904) |
Contractual cash flow [member] | Within 1 year [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | (258) |
Derivative financial assets | 12 | 13 |
Contractual cash flow [member] | Within 1 year [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (48) | (2,148) |
Derivative financial assets | 33 | 246 |
Contractual cash flow [member] | Within 1 year [member] | Forward foreign exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1,498) | |
Derivative financial assets | 1,473 | 2,139 |
Contractual cash flow [member] | 1-2 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (718) | (790) |
Contractual cash flow [member] | 1-2 years [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | (17) |
Derivative financial assets | 13 | 11 |
Contractual cash flow [member] | 1-2 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (21) | (418) |
Derivative financial assets | 8 | 7 |
Contractual cash flow [member] | 1-2 years [member] | Forward foreign exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (375) | |
Derivative financial assets | 361 | 422 |
Contractual cash flow [member] | 2-3 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (647) | (652) |
Contractual cash flow [member] | 2-3 years [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | (18) |
Derivative financial assets | 3 | 10 |
Contractual cash flow [member] | 2-3 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (21) | (188) |
Derivative financial assets | 8 | 7 |
Contractual cash flow [member] | 2-3 years [member] | Forward foreign exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (181) | |
Derivative financial assets | 173 | 193 |
Contractual cash flow [member] | 3-4 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (939) | (593) |
Contractual cash flow [member] | 3-4 years [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (2) | (18) |
Derivative financial assets | 1 | 1 |
Contractual cash flow [member] | 3-4 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (21) | (41) |
Derivative financial assets | 8 | 7 |
Contractual cash flow [member] | 3-4 years [member] | Forward foreign exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (25) | |
Derivative financial assets | 26 | 42 |
Contractual cash flow [member] | 4-5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (774) | (854) |
Contractual cash flow [member] | 4-5 years [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (3) | (18) |
Derivative financial assets | 5 | |
Contractual cash flow [member] | 4-5 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (39) | |
Derivative financial assets | 25 | 7 |
Contractual cash flow [member] | More than 5 years [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (2,631) | (2,280) |
Contractual cash flow [member] | More than 5 years [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (8) | (541) |
Derivative financial assets | 3 | |
Contractual cash flow [member] | More than 5 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (557) | |
Derivative financial assets | 553 | 554 |
Contractual cash flow [member] | Carrying amount [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | (6,387) | (5,195) |
Contractual cash flow [member] | Carrying amount [member] | Interest rate derivatives [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (15) | (2) |
Derivative financial assets | 21 | 20 |
Contractual cash flow [member] | Carrying amount [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (1) | (42) |
Derivative financial assets | 13 | 42 |
Contractual cash flow [member] | Carrying amount [member] | Forward foreign exchange contracts [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Derivative financial liabilities | (53) | |
Derivative financial assets | £ 13 | £ 53 |
Financial Instruments - Market
Financial Instruments - Market Risk - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about financial instruments [line items] | ||
Assumed weakening of foreign currencies | 10.00% | |
Decrease in carrying value of net assets due to assumed weakening of foreign currencies | £ 782 | £ 650 |
Decrease in net borrowings | £ 625 | 473 |
Assumed strengthening of foreign currencies | 10.00% | |
Increase the carrying value of net assets, excluding net borrowings | £ 782 | 650 |
Increase net borrowings | 625 | 473 |
Decrease in net profit | 127 | 147 |
Increase in net profit | £ 127 | 147 |
Foreign currency exposure management [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Hedging of highly predictable future cash flows | 24 months | |
Foreign currency exposure management [member] | Scientific, Technical & Medical subscription businesses [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Hedging of highly predictable future cash flows | 50 months | |
Market risk [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of borrowings with either fixed interest rate or fixed through the use of interest rate swaps, forward rate agreements or options | 45.00% | |
Borrowings, interest rate basis | 1.00% | |
Decrease in net finance costs | £ 32 | 26 |
Increase in net finance costs | 32 | 26 |
Increase in net equity | 1 | 2 |
Decrease in net equity | £ 1 | £ 2 |
Financial Instruments - Credit
Financial Instruments - Credit Risk - Additional Information (Detail) - GBP (£) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | £ 114,000,000 | £ 111,000,000 | £ 162,000,000 | £ 122,000,000 |
Trade receivables | 1,829,000,000 | 1,682,000,000 | ||
Up to one month [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 181,000,000 | 220,000,000 | ||
Two to three months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 93,000,000 | 97,000,000 | ||
Four to six months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 37,000,000 | 44,000,000 | ||
Greater than six months [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Trade receivables | 35,000,000 | 40,000,000 | ||
Credit risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Cash and cash equivalents | £ 114,000,000 | £ 111,000,000 | ||
Credit risk [member] | Banks rated A-/A3 [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Percentage of cash and cash equivalents held with bank". | 93.00% | 90.00% |
Financial Instruments - Summa_2
Financial Instruments - Summary of Cash Flow Hedges (Detail) - GBP (£) £ in Millions, U_pure in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (2,623) | £ (2,020) |
€550m loan notes and €550m interest rate swaps maturing 2020 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (494) | (489) |
Fixed Rate | 250.00% | |
Floating Rate | LIBOR+1.1% | |
€500m bond and €500m interest rate swaps maturing 2021 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (449) | (444) |
Fixed Rate | 40.00% | |
Floating Rate | LIBOR+0.3% | |
$700m bond and $700m interest rate swaps maturing 2023 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (549) | 0 |
Fixed Rate | 350.00% | |
Floating Rate | LIBOR+0.8% | |
€500m bond and €500m interest rate swaps maturing 2024 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (449) | (444) |
Fixed Rate | 100.00% | |
Floating Rate | LIBOR+0.7% | |
€600m bond and €600m/$669.3m cross-currency interest rate swaps maturing 2025 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (525) | (495) |
Fixed Rate | 130.00% | |
Floating Rate | LIBOR+1.3% | |
$200m bond and $200m interest rate swaps maturing 2027 [Member] | ||
Disclosure Of Detailed Information About Hedged Items [Line Items] | ||
Principal amount £m | £ (157) | £ (148) |
Fixed Rate | 720.00% | |
Floating Rate | LIBOR+5.8% |
Financial Instruments - Summa_3
Financial Instruments - Summary of Gains and Losses on the Borrowings and Related Derivatives Designated as Fair Value Hedges (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | £ (1) | £ (1) | |
Fair value movement gain/(loss) £m | £ (1) | 1 | |
31 December 2018 £m | (1) | (1) | |
Carrying values £m | (2,628) | (2,064) | (1,382) |
USD debt [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | 12 | 16 | 2 |
Fair value movement gain/(loss) £m | (1) | 13 | |
Exchange gain/(loss) £m | 1 | (1) | 1 |
31 December 2018 £m | 13 | 12 | 16 |
Carrying values £m | (701) | (147) | (378) |
De-designated £m | (2) | ||
USD debt Related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | (12) | (16) | (2) |
Fair value movement gain/(loss) £m | (1) | 1 | (13) |
Exchange gain/(loss) £m | (1) | 1 | (1) |
31 December 2018 £m | (14) | (12) | (16) |
Carrying values £m | (14) | (12) | (16) |
De-designated £m | 2 | ||
total of USD debt and Interest rate swaps [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
Fair value movement gain/(loss) £m | (1) | ||
31 December 2018 £m | (1) | ||
Carrying values £m | (715) | (159) | (403) |
GBP Debt [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | (14) | ||
De-designated £m | 14 | ||
EUR debt [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | (17) | (33) | (9) |
Fair value movement gain/(loss) £m | (21) | 17 | (21) |
Exchange gain/(loss) £m | (1) | (1) | (3) |
31 December 2018 £m | (39) | (17) | (33) |
Carrying values £m | (1,952) | (1,922) | (1,011) |
GBP Debt Related Interest Rate Swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | 14 | ||
De-designated £m | (14) | ||
EUR Debt related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | 17 | 32 | 8 |
Fair value movement gain/(loss) £m | 21 | (16) | 21 |
Exchange gain/(loss) £m | 1 | 1 | 3 |
31 December 2018 £m | 39 | 17 | 32 |
Carrying values £m | 39 | 17 | 32 |
Total of Eur debt and interest rate swaps [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | (1) | (1) | |
Fair value movement gain/(loss) £m | 1 | ||
31 December 2018 £m | (1) | ||
Carrying values £m | (1,913) | (1,905) | (979) |
Net Relating to USD, GBP, EUR And CHF Debt [Member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | (5) | (17) | (21) |
Fair value movement gain/(loss) £m | (21) | 16 | (8) |
Exchange gain/(loss) £m | (2) | (2) | |
31 December 2018 £m | (26) | (5) | (17) |
Carrying values £m | (2,653) | (2,069) | (1,398) |
De-designated £m | (2) | 14 | |
Total related interest rate swaps [member] | |||
Disclosure Of Detailed Information About Hedged Items [Line Items] | |||
1 January 2018 £m | 5 | 16 | 20 |
Fair value movement gain/(loss) £m | 20 | (15) | 8 |
Exchange gain/(loss) £m | 2 | 2 | |
31 December 2018 £m | 25 | 5 | 16 |
Carrying values £m | £ 25 | 5 | 16 |
De-designated £m | £ 2 | £ (14) |
Financial Instruments - Fair Va
Financial Instruments - Fair Value Hedges - Additional Information (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2008 |
Disclosure of detailed information about financial instruments [line items] | |||
Cash inflow from de-designation of derivatives previously held at fair value | £ 62 | ||
Fair value hedge de-designated in 2008 [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Fair value adjustments to borrowings de-designated in a fair value hedge relationship | £ 23 | £ 24 | |
Amortisation of fair value adjustments | £ 3 | £ 3 |
Financial Instruments - Cash Fl
Financial Instruments - Cash Flow Hedges - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | May 31, 2015 | |
Disclosure Of Financial Instruments [Abstract] | |||
Bonds issued | £ 600 | ||
Deferred tax charge (credit) in respect of hedge reserve gains (losses) | £ 8 | £ (1) | |
Cash flow hedge gain (loss) recognised in revenue | 20 | 90 | |
Cash flow hedge gain (loss) recognised in finance costs | 3 | 65 | |
Tax credits in relation to cash flow hedges | £ 3 | £ 1 |
Financial Instruments - Summa_4
Financial Instruments - Summary of Movements in the Hedge Reserve Including Gains and Losses on Cash Flow Hedging Instruments (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | £ (2) | £ (161) | |
Gain (Losses) arising during the period | (59) | 137 | £ (165) |
Transfer to net profit from cash flow hedge reserve | 17 | 25 | 46 |
Exchange translation differences | (3) | ||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | (44) | (2) | (161) |
Interest rate hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | 5 | 8 | |
Gain (Losses) arising during the period | 63 | ||
Transfer to net profit from cash flow hedge reserve | (3) | (65) | |
Exchange translation differences | (1) | ||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | 1 | 5 | 8 |
Reclassification on 1 January 2018 | (1) | ||
Cost of hedging reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gain (Losses) arising during the period | (8) | ||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | (7) | ||
Reclassification on 1 January 2018 | 1 | ||
Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | (7) | (169) | |
Gain (Losses) arising during the period | (51) | 74 | |
Transfer to net profit from cash flow hedge reserve | 20 | 90 | |
Exchange translation differences | (2) | ||
Hedge reserve balance at the start of the period: gains/(Losses) deferred | £ (38) | £ (7) | £ (169) |
Financial Instruments - Summa_5
Financial Instruments - Summary of Deferred Gains and Losses on Cash Flow Hedges Currently Expected to Recognised in Future Period (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | £ (44) | £ (2) | £ (161) |
Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (38) | £ (7) | £ (169) |
Principal Amount of Hedges [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | 1,259 | ||
2,019 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (20) | ||
2019 | Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (14) | ||
2019 | Principal Amount of Hedges [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | 481 | ||
2,020 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (13) | ||
2020 | Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (13) | ||
2020 | Principal Amount of Hedges [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | 486 | ||
2,021 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (10) | ||
2021 | Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (10) | ||
2021 | Principal Amount of Hedges [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | 228 | ||
2,022 | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (1) | ||
2022 | Foreign currency hedge reserve [member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | (1) | ||
2022 | Principal Amount of Hedges [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Gains/(losses) deferred in hedge reserve | £ 64 |
Inventories and Pre-publicati_3
Inventories and Pre-publication Costs - Summary of Inventories and Pre-Publication Costs (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Information About Inventories Explanatory [Abstract] | |||
Raw materials | £ 2 | £ 2 | |
Pre-publication costs | 171 | 157 | |
Finished goods | 39 | 38 | |
Total | £ 212 | £ 197 | £ 209 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Trade And Other Receivables [Abstract] | |||
Trade receivables | £ 1,829 | £ 1,682 | |
Loss allowance | (87) | (79) | £ (56) |
Trade receivables before prepayments and accrued income | 1,742 | 1,603 | |
Prepayments and accrued income | 224 | 219 | |
Net finance lease receivable | 49 | 57 | £ 63 |
Total | £ 2,015 | £ 1,873 |
Trade and Other Receivables -_2
Trade and Other Receivables - Summary of Movements in Loss Allowance for Expected Credit Losses (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Trade And Other Receivables [Abstract] | ||
At start of year | £ 79 | £ 56 |
Charge for the year | 14 | 39 |
Trade receivables written off | (8) | (15) |
Exchange translation differences | 2 | (1) |
At end of year | £ 87 | £ 79 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Trade And Other Payables [Abstract] | |||
Trade payables | £ 187 | £ 240 | |
Accruals | 711 | 663 | |
Social security and other taxes | 127 | 114 | |
Other payables | 407 | 371 | |
Deferred income | 2,000 | 1,910 | |
Total | £ 3,432 | £ 3,298 | £ 3,479 |
Borrowings - Summary of types o
Borrowings - Summary of types of Borrowings both Current and Non-current (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | ||
Total | £ 6,365 | £ 5,253 |
Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 686 | 464 |
Term debt, excluding fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,422 | 1,891 |
Lease liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 360 | 391 |
Term debt, in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,652 | 2,069 |
Term debt, previously in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 245 | 438 |
Within 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,392 | 762 |
Within 1 year [member] | Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 686 | 464 |
Within 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 614 | 209 |
Within 1 year [member] | Lease liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 92 | 89 |
More than 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 4,973 | 4,491 |
More than 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,808 | 1,682 |
More than 1 year [member] | Lease liabilities [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 268 | 302 |
More than 1 year [member] | Term debt, in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,652 | 2,069 |
More than 1 year [member] | Term debt, previously in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | £ 245 | £ 438 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) € in Millions, £ in Millions, SFr in Millions, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2018GBP (£) | Dec. 31, 2017GBP (£) | Dec. 31, 2018USD ($) | Dec. 31, 2018EUR (€) | Dec. 31, 2018CHF (SFr) | Dec. 31, 2017EUR (€) | |
Disclosure of detailed information about borrowings [line items] | ||||||
Total fair value of financial liabilities measured at amortised cost (excluding lease liabilities) | £ 3,254 | £ 2,522 | ||||
Percentage ownership of a subsidiary | 100.00% | |||||
Committed bank facility | £ 2,354 | $ 3,000 | ||||
Term debt | 544 | 742 | € 600 | SFr 275 | € 600 | |
Fair value of derivative financial instruments | 19 | 38 | ||||
Term debt, in fair value hedging relationships [member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total fair value of term debt | 2,742 | 2,148 | ||||
Term debt, previously in fair value hedging relationships [member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Total fair value of term debt | 283 | £ 501 | ||||
Tranche One [member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Committed bank facility | £ 1,373 | 1,750 | ||||
Committed bank facility maturity date | 2023-07 | |||||
Tranche Two [member] | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Committed bank facility | £ 981 | $ 1,250 | ||||
Committed bank facility maturity date | 2021-07 |
Borrowings - Summary of Repayme
Borrowings - Summary of Repayment Years for Borrowings (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 686 | £ 464 |
Term debt | 5,319 | 4,398 |
Lease liabilities | 360 | 391 |
Total | 6,365 | 5,253 |
Within 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 686 | 464 |
Term debt | 614 | 209 |
Lease liabilities | 92 | 89 |
Total | 1,392 | 762 |
1-2 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 508 | 593 |
Lease liabilities | 87 | 85 |
Total | 595 | 678 |
2-3 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 451 | 508 |
Lease liabilities | 70 | 74 |
Total | 521 | 582 |
3-4 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 688 | 444 |
Lease liabilities | 42 | 58 |
Total | 730 | 502 |
4-5 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 669 | 630 |
Lease liabilities | 27 | 28 |
Total | 696 | 658 |
More than 5 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 2,389 | 2,014 |
Lease liabilities | 42 | 57 |
Total | 2,341 | 2,071 |
More than 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 4,705 | 4,189 |
Lease liabilities | 268 | 302 |
Total | £ 4,973 | £ 4,491 |
Borrowings - Analysis of Borrow
Borrowings - Analysis of Borrowings by Currency (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 686 | £ 464 |
Term debt | 5,319 | 4,398 |
Lease liabilities | 360 | 391 |
Total | 6,365 | 5,253 |
US dollars [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 19 | 103 |
Term debt | 2,493 | 2,044 |
Lease liabilities | 177 | 187 |
Total | 2,689 | 2,334 |
Pounds Sterling [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 314 | 262 |
Term debt | 300 | 299 |
Lease liabilities | 66 | 69 |
Total | 683 | 630 |
Euro [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 318 | 76 |
Term debt | 2,526 | 2,055 |
Lease liabilities | 85 | 97 |
Total | 2,929 | 2,228 |
Other Currencies [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 32 | 23 |
Lease liabilities | 32 | 38 |
Total | £ 64 | £ 61 |
Lease arrangements - Summary of
Lease arrangements - Summary of right of use assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
At start of year | £ 287 | £ 325 | |
Additions | 31 | 46 | |
Acquisitions | 12 | ||
Remeasurement | 13 | 8 | |
Disposals | (10) | (8) | |
Depreciation | (77) | (75) | £ (74) |
Exchange translation differences | 7 | (9) | |
At end of year | 263 | 287 | 325 |
Property [member[ | |||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
At start of year | 264 | 298 | |
Additions | 26 | 41 | |
Acquisitions | 7 | ||
Remeasurement | 13 | 8 | |
Disposals | (2) | (8) | |
Depreciation | (68) | (67) | |
Exchange translation differences | 6 | (8) | |
At end of year | 246 | 264 | 298 |
Non-property [member] | |||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |||
At start of year | 23 | 27 | |
Additions | 5 | 5 | |
Acquisitions | 5 | ||
Disposals | (8) | 0 | |
Depreciation | (9) | (8) | |
Exchange translation differences | 1 | (1) | |
At end of year | £ 17 | £ 23 | £ 27 |
Lease arrangements - Summary _2
Lease arrangements - Summary of Lease liability (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Total lease liabilities | £ (360) | £ (391) |
Property [member[ | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Current lease liabilities | (83) | (81) |
Non-current lease liabilities | (260) | (295) |
Non-property [member] | ||
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | ||
Current lease liabilities | (9) | (8) |
Non-current lease liabilities | £ (8) | £ (7) |
Lease Arrangements - Additional
Lease Arrangements - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Presentation Of Leases For Lessee [Abstract] | |||
Interest expense on lease liabilities | £ 14 | £ 17 | £ 18 |
Leases with future cash outflows | £ 40 |
Lease Arrangements - Summary _3
Lease Arrangements - Summary of Right of Use Asset (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Finance Lease And Operating Lease By Lessee [Abstract] | ||
Net finance lease receivable | £ 49 | £ 57 |
Provisions - Summary of Changes
Provisions - Summary of Changes in Provisions (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Other Provisions [Abstract] | ||
At start of year | £ 63 | £ 86 |
Utilised | (14) | (17) |
Exchange translation differences | 2 | (6) |
Total | £ 51 | £ 63 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions Included Within Current and Non-current Liabilities (Detail) - GBP (£) £ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Other Provisions [Abstract] | |||
Current liabilities | £ 15 | £ 12 | |
Non-current liabilities | 36 | 51 | |
Total | £ 51 | £ 63 | £ 86 |
Share Capital, Share Premium _3
Share Capital, Share Premium and Shares Held in Treasury - Summary of Called up Share Capital Issued and Fully Paid (Detail) € in Millions | 12 Months Ended | |||||
Dec. 31, 2018GBP (£)shares | Dec. 31, 2018EUR (€)shares | Dec. 31, 2017GBP (£)shares | Dec. 31, 2017EUR (€)shares | Dec. 31, 2016GBP (£)shares | Dec. 31, 2016EUR (€)shares | |
Disclosure of classes of share capital [line items] | ||||||
At start of year | £ | £ 224,000,000 | £ 226,000,000 | ||||
At end of year | £ | £ 290,000,000 | £ 224,000,000 | £ 226,000,000 | |||
Cancellation of ordinary shares on completion of the corporate simplification | (3,500,000) | (3,500,000) | ||||
Cancellation of treasury shares on completion of the corporate simplification | (70,100,000) | (70,100,000) | ||||
Cancellation of ordinary shares on completion of the corporate simplification | € | € (65) | |||||
Cancellation of treasury shares on completion of the corporate simplification | € | € (5) | |||||
RELX PLC [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
At start of year | 1,123,682,106 | 1,123,682,106 | 1,144,122,623 | 1,144,122,623 | ||
Issue of ordinary shares | 1,580,885 | 1,580,885 | 2,019,483 | 2,019,483 | ||
Issue of ordinary shares in exchange for RELX NV shares | 930,780,110 | 930,780,110 | ||||
Cancellation of shares | (45,000,000) | (45,000,000) | (22,460,000) | (22,460,000) | (33,700,000) | (33,700,000) |
At end of year | 2,011,043,101 | 2,011,043,101 | 1,123,682,106 | 1,123,682,106 | 1,144,122,623 | 1,144,122,623 |
At start of year | £ | £ 162,000,000 | £ 165,000,000 | ||||
Issue of ordinary shares in exchange for RELX NV shares | £ | 134,000,000 | |||||
Cancellation of shares | £ | (6,000,000) | (3,000,000) | ||||
At end of year | £ | £ 290,000,000 | £ 162,000,000 | £ 165,000,000 | |||
RELX NV [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
At start of year | 999,961,098 | 999,961,098 | 1,019,893,404 | 1,019,893,404 | ||
Issue of ordinary shares | 888,128 | 888,128 | 2,067,694 | 2,067,694 | ||
At end of year | 999,961,098 | 999,961,098 | 1,019,893,404 | 1,019,893,404 | ||
At start of year | € | € 70 | € 71 | ||||
Cancellation of shares | £ (22,000,000) | (1) | ||||
At end of year | € | € 70 | € 71 | ||||
Cancellation of ordinary shares on completion of the corporate simplification | (930,780,110) | (930,780,110) | ||||
Cancellation of treasury shares on completion of the corporate simplification | (70,069,116) | (70,069,116) |
Share Capital, Share Premium _4
Share Capital, Share Premium and Shares Held in Treasury - Summary of Number of Ordinary Shares (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of classes of share capital [line items] | |||
At start of year | |||
At end of year | 2,011,000,000 | ||
Cancellation of ordinary shares on completion of the corporate simplification | (3,500,000) | ||
Cancellation of treasury shares on completion of the corporate simplification | (70,100,000) | ||
At start of period, treasury shares | |||
Cancellation of treasury shares | 930,780,110 | ||
At end of year, treasury shares | (49,100,000) | ||
Cancellation of ordinary shares on completion of the corporate simplification | 3,500,000 | ||
Cancellation of treasury shares on completion of the corporate simplification | 70,100,000 | ||
Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 2,003,700,000 | 962,200,000 | |
Cancellation of ordinary shares on completion of the corporate simplification | 927,300,000 | 0 | |
Cancellation of treasury shares on completion of the corporate simplification | 0 | 0 | |
Cancellation of ordinary shares on completion of the corporate simplification | (927,300,000) | 0 | |
Cancellation of treasury shares on completion of the corporate simplification | 0 | 0 | |
At end of year | 1,961,900,000 | 2,003,700,000 | 962,200,000 |
RELX PLC [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of year | 1,123,600,000 | ||
Issue of ordinary shares | 1,580,885 | 2,019,483 | |
Issue of ordinary shares in exchange for RELX NV shares | 930,780,110 | ||
Cancellation of shares | (45,000,000) | (22,460,000) | (33,700,000) |
At end of year | 2,011,000,000 | 1,123,600,000 | |
Repurchase of ordinary shares | (26,900,000) | (23,100,000) | (29,200,000) |
RELX PLC [member] | Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
Net (purchase)/release of shares by the Employee Benefit Trust | (200,000) | ||
At start of period, treasury shares | (63,500,000) | ||
Issue of ordinary shares in exchange for RELX NV shares | (3,500,000) | ||
Repurchase of ordinary shares | (26,900,000) | ||
Cancellation of treasury shares | 45,000,000 | ||
At end of year, treasury shares | (49,100,000) | (63,500,000) | |
RELX PLC [member] | Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 1,060,100,000 | 1,080,500,000 | |
Issue of ordinary shares | 1,600,000 | 2,000,000 | |
Repurchase of ordinary shares | (26,900,000) | (23,100,000) | |
Net release of shares by the Employee Benefit Trust | (200,000) | 700,000 | |
Issue of ordinary shares in exchange for RELX NV shares | 927,300,000 | ||
At end of year | 1,961,900,000 | 1,060,100,000 | 1,080,500,000 |
RELX NV [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of year | 1,000,000,000 | ||
Issue of ordinary shares | 888,128 | 2,067,694 | |
Repurchase of ordinary shares | 0 | ||
At end of year | 0 | 1,000,000,000 | |
Net release of shares by the Employee Benefit Trust | 0 | ||
Cancellation of ordinary shares on completion of the corporate simplification | (930,780,110) | ||
Cancellation of treasury shares on completion of the corporate simplification | (70,069,116) | ||
Repurchase of ordinary shares | (17,500,000) | (21,400,000) | (26,100,000) |
Cancellation of ordinary shares on completion of the corporate simplification | 930,780,110 | ||
Cancellation of treasury shares on completion of the corporate simplification | 70,069,116 | ||
RELX NV [member] | Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period, treasury shares | (56,400,000) | ||
Issue of treasury shares | 0 | ||
Repurchase of ordinary shares | (17,500,000) | ||
At end of year, treasury shares | 0 | (56,400,000) | |
Net release of shares by the Employee Benefit Trust | 300,000 | ||
RELX NV [member] | Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 943,600,000 | ||
Issue of ordinary shares | 900,000 | 2,100,000 | |
Repurchase of ordinary shares | (17,500,000) | (21,400,000) | |
Net release of shares by the Employee Benefit Trust | 300,000 | 700,000 | |
At end of year | 0 | 943,600,000 |
Share Capital, Share Premium _5
Share Capital, Share Premium and Shares Held in Treasury - Additional Information (Detail) | Dec. 07, 2018GBP (£) | Feb. 28, 2019shares | Dec. 31, 2018GBP (£)£ / sharesshares | Dec. 31, 2018GBP (£)€ / sharesshares | Dec. 31, 2017GBP (£)shares | Dec. 31, 2016GBP (£)shares |
Disclosure of classes of share capital [line items] | ||||||
Cancellation of treasury shares | 930,780,110 | |||||
Consideration amount for repurchases of shares | £ | £ 700,000,000 | £ 700,000,000 | £ 700,000,000 | |||
Consideration amount for employee benefit trust shares purchased | £ | 43,000,000 | 39,000,000 | 29,000,000 | |||
Employee benefit trust shares purchase amount | £ | 90,000,000 | £ 90,000,000 | £ 82,000,000 | £ 81,000,000 | ||
Authorised amount for Share repurchase | £ | £ 100,000,000 | |||||
RELX PLC [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 26,900,000 | 23,100,000 | 29,200,000 | |||
Average price paid per share repurchased | £ / shares | £ 15.78 | |||||
Consideration amount for repurchases of shares | £ | £ 700,000,000 | £ 700,000,000 | £ 700,000,000 | |||
Employee benefit trust shares purchased | 2,900,000 | |||||
Shares held by the employee benefit trust | 7,130,366 | 7,130,366 | 3,493,817 | 4,229,442 | ||
Shares held in treasury | 42,023,020 | 42,023,020 | 60,077,786 | 59,415,287 | ||
Cancellation of treasury shares | 45,000,000 | 22,460,000 | 33,700,000 | |||
Non-discretionary share repurchase commitment | £ | £ 100,000,000 | |||||
RELX PLC [member] | Ordinary Share Purchase [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 6,000,000 | |||||
RELX NV [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 17,500,000 | 21,400,000 | 26,100,000 | |||
Average price paid per share repurchased | € / shares | £ 17.73 | |||||
Consideration amount for repurchases of shares | £ | £ 700,000,000 | £ 700,000,000 | £ 700,000,000 |
Other Reserves - Summary of Oth
Other Reserves - Summary of Other Reserves (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of other reserves [line items] | |||
RELX PLC shareholders | £ 1,422 | £ 1,648 | £ 1,150 |
Dividends paid | 804 | 772 | 692 |
Actuarial (losses)/gains on defined benefit pension schemes | (91) | 233 | (262) |
Fair value movements on cash flow hedges | (59) | 137 | (165) |
Transfer to net profit from cash flow hedge reserve | (17) | (25) | (46) |
Tax recognised in other comprehensive income | 24 | (89) | 64 |
Increase in share based remuneration reserve (net of tax) | 35 | 42 | 44 |
Issue of ordinary shares, net of expenses | 21 | 32 | 23 |
Cancellation of shares | 0 | 0 | 0 |
Settlement of share awards | 0 | 0 | 0 |
Hedge reserve [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | (3) | ||
Fair value movements on cash flow hedges | (59) | ||
Transfer to net profit from cash flow hedge reserve | 17 | ||
Tax recognised in other comprehensive income | 9 | ||
Other reserves, at end of year | (36) | (3) | |
Other Reserves [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 428 | ||
RELX PLC shareholders | 1,422 | ||
Dividends paid | (796) | ||
Actuarial (losses)/gains on defined benefit pension schemes | (91) | ||
Tax recognised in other comprehensive income | 15 | ||
Increase in share based remuneration reserve (net of tax) | 35 | ||
Issue of ordinary shares, net of expenses | (227) | ||
Cancellation of shares | 262 | ||
Settlement of share awards | (35) | ||
Exchange translation differences | 7 | ||
Other reserves, at end of year | 1,020 | 428 | |
Other reserves [member] | |||
Disclosure of other reserves [line items] | |||
Other reserves, at start of year | 425 | (215) | |
RELX PLC shareholders | 1,422 | 1,648 | |
Dividends paid | (796) | (762) | |
Actuarial (losses)/gains on defined benefit pension schemes | (91) | 233 | |
Fair value movements on cash flow hedges | (59) | 137 | |
Transfer to net profit from cash flow hedge reserve | 17 | 25 | |
Tax recognised in other comprehensive income | 24 | (89) | |
Increase in share based remuneration reserve (net of tax) | 35 | 42 | |
Issue of ordinary shares, net of expenses | (227) | 0 | |
Cancellation of shares | 262 | (566) | |
Settlement of share awards | (35) | (37) | |
Exchange translation differences | 7 | 9 | |
Other reserves, at end of year | £ 984 | £ 425 | £ (215) |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of transactions between related parties [line items] | |||
Deemed benefits provided to Non-executive directors | £ 2,460 | £ 0 | |
Loans, advances or guarantees on behalf of directors | £ 0 | 0 | 0 |
Aggregate gains made by executive directors | 2,804,358 | 3,082,715 | |
Joint ventures where entity is venturer [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from sale of goods, related party transactions | 1,000,000 | 16,000,000 | 2,000,000 |
Revenue from rendering of services, related party transactions | 100,000 | 100,000 | 0 |
Amounts receivable, related party transactions | 2,000,000 | 2,000,000 | 0 |
Amounts payable, related party transactions | £ 900,000 | £ 1,000,000 | £ 0 |
Related Party Transactions - Su
Related Party Transactions - Summary of Key Management Personnel Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Salaries, other short-term employee benefits and non-executive fees | £ 7 | £ 5 | £ 5 |
Post-employment benefits | 1 | 1 | 1 |
Share based remuneration | 7 | 8 | 12 |
Total | £ 15 | £ 14 | £ 18 |
Related Party Transactions - _2
Related Party Transactions - Summary of Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Executive directors salary | £ 1,935 | £ 1,889 | £ 1,843 |
Executive directors benefits | 99 | 101 | 88 |
Executive directors annual incentive | 3,033 | 1,964 | 1,881 |
Executive directors cost of share based remuneration | 7,003 | 8,205 | 12,038 |
Executive directors cost of pension provision | 741 | 983 | 1,052 |
Total executive directors | £ 12,811 | £ 13,142 | £ 16,902 |
Related Party Transactions - _3
Related Party Transactions - Summary of Non-Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |||
Fees and benefits | £ 1,634 | £ 1,396 | £ 1,364 |
Exchange Rates - Summary of Exc
Exchange Rates - Summary of Exchange Rates in Preparing Consolidated Statements (Detail) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Euro to sterling [member] | Income statement [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Average foreign exchange rate | 1.13 | 1.14 | 1.22 |
Euro to sterling [member] | Statement of financial position [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Closing foreign exchange rate | 1.11 | 1.12 | |
US dollars to sterling [member] | Income statement [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Average foreign exchange rate | 1.34 | 1.29 | 1.36 |
US dollars to sterling [member] | Statement of financial position [member] | |||
Disclosure Of Foreign Exchange Rates [Line Items] | |||
Closing foreign exchange rate | 1.27 | 1.35 |
Related undertakings - Summary
Related undertakings - Summary of Full list of Related Parties - Australia to Italy (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Australia [member] | Adaptris Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Adaptris Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills NSW 2153,Australia |
Australia [member] | ELsevier (Australia) Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ELsevier (Australia) Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Fair Events Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fair Events Pty Ltd |
Percentage of undertaking | 49.00% |
Reg office | Grant Thornton, Level 17, 393 Kent St, Sydney, NSW 2000, Australia |
Australia [member] | Fitness Show Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fitness Show Pty Ltd |
Percentage of undertaking | 80.00% |
Reg office | Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 |
Australia [member] | Reed Business Information (Australia) Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (Australia) Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Building B, Level 2, Unit 11,1 Maitland Place, Baulkham Hills NSW 2153, Australia |
Australia [member] | SST Software Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SST Software Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Level 1, 439 Gympie Road, Strathpine, QLD 4500 |
Australia [member] | Reed Exhibitions Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Level 10, 10 Help Street, Chatswood NSW 2067, Australia |
Australia [member] | Symbiotic Technologies Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Symbiotic Technologies Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1303, 799 Pacific Highway, Chatswood, NSW 2067 |
Australia [member] | Reed International Books Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed International Books Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Symbiotic Technologies Operation Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Symbiotic Technologies Operation Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1303, 799 Pacific Highway, Chatswood, NSW 2067 |
Australia [member] | Reed Oz Comic-Con Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Oz Comic-Con Pty Ltd |
Percentage of undertaking | 80.00% |
Reg office | Level 10, 10 Help Street, Chatswood NSW 2067, Australia |
Australia [member] | Threat Metrix Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Threat Metrix Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1303, 799 Pacific Highway, Chatswood, NSW 2067 |
Australia [member] | RELX Australia Pty Limited [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Australia Pty Ltd |
Percentage of undertaking | 100.00% |
Reg office | Level 10, 10 Help Street, Chatswood NSW 2067, Australia |
Austria [member] | Expoxx Messebau GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Expoxx Messebau GmbH |
Percentage of undertaking | 100.00% |
Reg office | Messeplatz 1, 1020, Wien, Austria |
Austria [member] | LexisNexis Verlag ARD ORAC GmbH & Co KG [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Verlag ARD ORAC GmbH &Co KG |
Percentage of undertaking | 100.00% |
Reg office | Marxergasse 25, 1030, Wien, Austria |
Austria [member] | ORAC Gesellschaft m.b.H. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ORAC Gesellschaft m.b.H. |
Percentage of undertaking | 100.00% |
Reg office | Marxergasse 25, 1030, Wien, Austria |
Austria [member] | Reed CEE GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed CEE GmbH |
Percentage of undertaking | 100.00% |
Reg office | Messeplatz 1, 1020, Wien, Austria |
Austria [member] | Reed Messe Salzburg GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Messe Salzburg GmbH |
Percentage of undertaking | 100.00% |
Reg office | Am Messezentrum 6, 5020, Salzburg, Austria |
Austria [member] | Reed Messe Wien GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Messe Wien GmbH |
Percentage of undertaking | 100.00% |
Reg office | Messeplatz 1, 1020, Wien, Austria |
Austria [member] | RELX Austria GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Austria GmbH |
Percentage of undertaking | 100.00% |
Reg office | Am Messezentrum 6, 5020, Salzburg, Austria |
Austria [member] | System Stand Bau GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | System Stand Bau GmbH |
Percentage of undertaking | 100.00% |
Reg office | Am Messezentrum 6, 5020, Salzburg, Austria |
Belgium [member] | LexisNexis BVBA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis BVBA |
Percentage of undertaking | 100.00% |
Reg office | Grotesteenweg-Zuid 39, 9052 Gent, Belgium |
Belgium [member] | First 4 Farming Europe NV [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | First 4 Farming Europe NV |
Percentage of undertaking | 100.00% |
Reg office | Leernseteenweg 128 Box E, 9800 Deinze, Belgium |
BRAZIL | Fircosoft Brazil Consultoriae Servicos de lnformatica Ltda [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft Brazil Consultoriae Servicos de lnformatica Ltda |
Percentage of undertaking | 100.00% |
Reg office | São Paulo, State of São Paulo, at Rua Bela Cintra, n°1.200, 8th floor, CEP 01415-002 |
BRAZIL | Elsevier Editora Ltda [member] | Quotas [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Editora Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Sete de Setembro, nº 111, salas 601,1501/1502, 1601/1602, 1701/1702 e 802 – 8º Andar, Centro, cidade do Rio de Janeiro, estado do Rio de Janeiro, CEP 20.050-006 |
BRAZIL | LexisNexis Informacoes e Sistemas Empresariais Ltda [member] | Quotas shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Informações e Sistemas Empresariais Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
BRAZIL | Lexis Nexis Serviços de Análise de Risco Ltda [member] | Quotas shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Lexis Nexis Serviços de Análise de Risco Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
BRAZIL | MLex Brasil Midia Mercadoligica Ltda [member] | Quotas [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Brasil Midia Mercadoligica Ltda |
Percentage of undertaking | 91.00% |
Reg office | Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 |
BRAZIL | Reed Exhibitions Alcantara Machado Ltda [member] | Quotas shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Alcântara Machado Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
BRAZIL | SST Software do Brasil Ltda [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SST Software do Brasil Ltda |
Percentage of undertaking | 100.00% |
Reg office | Rua Cel Fonseca, 203 A-Centro, Botucatu, SP, 18600-200 |
Canada [member] | LexisNexis Canada Inc. [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Canada Inc |
Percentage of undertaking | 100.00% |
Reg office | 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class B shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class A shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class C shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class D shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class E shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class F shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class G shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 |
Canada [member] | RELX Canada Ltd. [member] | Unlimited class H shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Canada Ltd |
Percentage of undertaking | 100.00% |
Reg office | 555 Rlichmond Street West, Toronto, Ontario, Canada, M5V3B1 |
Canada [member] | Science-Metrix lnc [member] | Class A commonshares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix lnc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada |
Canada [member] | Science-Metrix lnc [member] | Class B common shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix lnc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada |
Canada [member] | Science-Metrix lnc [member] | Class A preferred shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix lnc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada |
Canada [member] | Science-Metrix lnc [member] | Class B preferred shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix lnc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada |
Canada [member] | Science-Metrix lnc [member] | Class C preferred shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix lnc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada |
Canada [member] | Science-Metrix lnc [member] | Class D preferred shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix lnc |
Percentage of undertaking | 100.00% |
Reg office | 26E-1501 av. McGill College, Montreal, Quebec, H3A3N9, Canada |
Canada [member] | ThreatMetrix (Canada) Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix (Canada) Inc |
Percentage of undertaking | 100.00% |
Reg office | 160 Elgin Street, Suite 2600, Ottawa, Ontario, K1P 1C3, Canada |
China [member] | Beijing Bakery China Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Beijing Bakery China Exhibitions Co., Ltd |
Percentage of undertaking | 25.00% |
Reg office | Zhongkun Building, Room 612, Gaoliangqiaoxie Street, No. 59, Haidan District, Beijing, 100044, China |
China [member] | Beijing Medtime Elsevier Education Technology Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Beijing Medtime Elsevier Education Technology Co., Ltd |
Percentage of undertaking | 49.00% |
Reg office | West Building of Administration Building, Xueyuan Road No. 38 Peking University Health Science Center, Haidan District, Beijing, 100191, China |
China [member] | Beijing Reed Elsevier Science and Technology Co, Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Beijing Reed Elsevier Science and Technology Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China |
China [member] | Beijing Reed Guanghe Exhibition Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Beijing Reed Guanghe Exhibition Co., Ltd |
Percentage of undertaking | 80.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [member] | C-One Energy Co Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | C-One Energy Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 9/F, No 3 Zhongshan Er Road, Guangzhou, China |
China [member] | Genilex Information Technology Co. Ltd. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Genilex Information Technology Co., Ltd |
Percentage of undertaking | 40.00% |
Reg office | Unit 2480, Building 2, No. 7, Chuangxin Road, Science Park of Changping District, Beijing, China |
China [member] | ICIS Consulting (Beijing) Co Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ICIS Consulting (Beijing) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room 12B, 7th Floor, Oriental Plaza, 1 East Chang An Avenue, Beijing, China |
China [member] | KeAi Communications Co Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | KeAi Communications Co., Ltd |
Percentage of undertaking | 49.00% |
Reg office | 16 Donghuangchenggen North Street, Beijing, 100717, China |
China [member] | MLex Consulting (Beijing) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Consulting (Beijing) Co., Ltd |
Percentage of undertaking | 91.00% |
Reg office | Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road, Chaoyang District, Beijing |
China [member] | LexisNexis Risk Solutions (Shanghai) Information Technologies Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions (Shanghai) Information Technologies Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Room 5106, Raffle City, 268 Middle Xizang Road, Huangpu District, Shanghai, 200001, China |
China [member] | Reed Elsevier Information Technology (Beijing) Co. Ltd. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Information Technology (Beijing) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Oriental Plaza, No. 1 East Chang An Ave, Tower W1, 7th Floor, Unit 1-7, Dong Cheng District, Beijing, 100738, China |
China [member] | Reed Exhibitions (China) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (China) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [member] | Reed Business Information (Shanghai) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (Shanghai) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 4/F Block C, No999 Jingzhong Road,Changning District, Shanghai, China |
China [member] | Reed Exhibitions (Shanghai) Co. Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (Shanghai) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China |
China [member] | Reed Hongda Exhibitions (Henan) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Hongda Exhibitions (Henan) Co., Ltd |
Percentage of undertaking | 51.00% |
Reg office | World Expo Mansion, 14F, No. 04-05, No. 8 Business Out Ring Road, Zhengzou New District, Zhengzou, 450000, China |
China [member] | Reed Huabai Exhibitions Beijing Co Ltd [Member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Huabai Exhibitions (Beijing) Co., Ltd |
Percentage of undertaking | 51.00% |
Reg office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [member] | Reed Exhibitions Henjin Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Henjin Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | FL2, No.979, Yunhan Road, Nicheng Town, Pudong NewArea |
China [member] | Reed Huabo Exhibitions (Shenzhen) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Huabo Exhibitions (Shenzhen) Co., Ltd |
Percentage of undertaking | 65.00% |
Reg office | Shenzhen International Chamber of Commerce Tower, Room 1801-1802, 1805, Fuhua 3rd Road, Futian District, Shenzhen, 518048, China |
China [member] | Reed Huaqun ExhibitionsCo., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Huaqun ExhibitionsCo., Ltd |
Percentage of undertaking | 52.00% |
Reg office | Ping An International Finance Center, Room 1504,15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [member] | Reed Kuozhan Exhibitions (Shanghai) Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Kuozhan Exhibitions (Shanghai) Co., Ltd |
Percentage of undertaking | 60.00% |
Reg office | lntercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China |
China [member] | Reed Sinopharm ExhibitionsCo., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Sinopharm ExhibitionsCo., Ltd |
Percentage of undertaking | 50.00% |
Reg office | Ping An International Finance Center, Room 1504,15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [member] | RELX (China) Investment Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (China) Investment Co., Ltd |
Reg office | Room 319, 238 Jiangchangsan Road, Jing'an District, Shanghai, China |
China [member] | Shanghai Datong Medical Information Technology Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Shanghai Datong Medical Information Technology Co., Ltd |
Reg office | No 498, GouShouJing Road, Building 6 Unit 12502-505, Shanghai, Pudong New District, 201203, China |
China [member] | Shanghai SinoReal Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Shanghai SinoReal Exhibitions Co., Ltd (27.5%) |
Percentage of undertaking | 27.50% |
Reg office | Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality |
China [member] | Elsevier A/S [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier A/S |
Reg office | Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark |
China [member] | Reed Elsevier Denmark ApS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Denmark ApS |
Reg office | Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark |
China [member] | Reed Exhibitions Free Zone-LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Free Zone-LLC |
Reg office | Office No. 328, Building 02, third floor, P.O. Box 502425, Dubai, United Arab Emirates |
China [member] | RELX Middle East FZ-LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Middle East FZ-LLC |
Reg office | Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates |
France [member] | Elsevier Holding France SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier HoIding France SAS |
Reg office | 65, rue Camille Desmoulins, 92130, Issyles Moulineaux, France |
France [member] | LexisNexis Business Information Solutions S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions S.A. |
Reg office | 141 rue de Javel,75015 Paris |
France [member] | LexisNexis Business Information Solutions Holding S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions Holding S.A. |
Reg office | lmmeuble «Technopolis», 350 rue Georges Besse-Nîmes (30000) |
France [member] | LexisNexis International Development Services S. A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis International Development Services S. A. |
Reg office | 141 rue de Javel,75015 Paris |
France [member] | Elsevier Masson SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Masson SAS |
Reg office | 65, rue Camille Desmoulins, 92130, Issy les Moulineaux, France |
France [member] | Evoluprint SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Evoluprint SAS |
Reg office | Parc Euronord – 10, rue du Parc – 31150 Bruguieres |
France [member] | Fircosoft SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft SAS |
Reg office | 247 rue de Bercy 75012 Paris |
France [member] | Gie Juris-Data [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gie Edi-Data (83%) |
Percentage of undertaking | 83.00% |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | Gie Juris-Data [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gie Juris-Data |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | GIE PRK - Publicite Robert Krier [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | GIE PRK- Publicite Robert Krier |
Reg office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | LexisNexis SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis SA |
Reg office | 141 rue de Javel, 75015 Paris |
France [member] | Reed Exhibitions ISG SARL [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions ISG SARL |
Reg office | 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | Reed Expositions France SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Expositions France SAS |
Reg office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | Reed Midem SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Midem SAS |
Reg office | 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | Reed Organisation SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Organisation SAS |
Reg office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | RELX France S.A. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX France S.A. |
Reg office | 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | SAFI SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SAFI SA |
Percentage of undertaking | 50.00% |
Reg office | 6-8 Rue Chaptal, 75009 Paris |
Germany [member] | Aries Medical Knowledge GmbH & Co KG [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Aries Medical Knowledge GmbH & Co KG |
Reg office | Hauptstrasse 47, 40764, Lagenfeld |
Germany [member] | Aries Medical Knowledge Verwaltungsgesellschaft GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Aries Medical Knowledge Verwaltungsgesellschaft GmbH |
Reg office | Hauptstrasse 47, 40764, Lagenfeld |
Germany [member] | Patent Sight GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Patent Sight GmbH |
Reg office | Joseph-Schumpeter-Allee 33,53227, Bonn |
Germany [member] | Ascend China Holding Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Ascend China Holding Ltd |
Reg office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Germany [member] | Reed Business Information (China) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (China) Ltd |
Reg office | Level 28, Building 8, 3 Pacific Place, 1 Queens Road East, HONG KONG, Hong Kong |
Germany [member] | Reed Travel Group (Germany) GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Travel Group (Germany) GmbH |
Reg office | Schwannstr. 6, 40476 Düsseldorf |
Germany [member] | JC Exhibition and Promotion Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | JC Exhibition and Promotion Ltd |
Percentage of undertaking | 65.00% |
Reg office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Germany [member] | JYLN Sager Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | JYLN Sager Ltd |
Percentage of undertaking | 40.00% |
Reg office | Flat 2, 19/F Henan Building 90-92, Jaffe Road Wanchai, Hong Kong, Hong Kong |
Germany [member] | MLex Asia Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Asia Ltd |
Percentage of undertaking | 91.00% |
Reg office | 703 Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong |
Germany [member] | Reed Exhibitions Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Ltd |
Reg office | Flat 2, 19/F Henan Building 90-92, Jaffe Road Wanchai, Hong Kong, Hong Kong |
Germany [member] | RELX (Greater China) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Greater China) Ltd |
Reg office | 3901, 39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong, Hong Kong |
Germany [member] | Elsevier GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ElsevierGmbH |
Reg office | Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany |
Germany [member] | Elsevier Information Systems GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Information Systems GmbH |
Reg office | Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany |
Germany [member] | LexisNexis GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis GmbH |
Reg office | Heerdter Sandberg 30, 40549, Düsseldorf, Germany |
Germany [member] | REC Publications GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | REC Publications GmbH |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | Reed Exhibitions (Germany) GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (Germany) GmbH |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | Reed Exhibitions Deutschland GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Deutschland GmbH |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | RELX Deutschland GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Deutschland GmbH |
Reg office | Völklinger Strasse 4, 40219, Düsseldorf, Germany |
Germany [member] | Tschach Solutions GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Tschach Solutions GmbH |
Reg office | Steinhäuserstrasse 9, 76135, Karlsruhe, Germany |
Colombia [member] | LexisNexis Risk Solutions S.A.S. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions S.A.S. |
Reg office | Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá, d.c., 76600, Colombia |
Egypt [member] | Elsevier Egypt LLC. | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Egypt LLC |
Reg office | Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt |
INDIA | Comic Con India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Comic Con India Private Ltd |
Percentage of undertaking | 36.00% |
Reg office | B9/5 Vasant Vihar, New Delhi, 110057, India |
INDIA | FircoSoft India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | FircoSoft India Private Ltd |
Reg office | n°664 Level 6 – Chennai Regus – Citi Centre – 10/11 Dr Radhakrishnan Salai, Mylapore – Chennai 600004 |
INDIA | Reed ELsevier Publishing (India) Pvt. Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed ELsevier Publishing (India) Pvt Ltd |
Reg office | 18, Kotla Lane, Rouse Avenue, New Delhi, 110002, India |
INDIA | Reed Manch Exhibitions Private Ltd (70%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Manch Exhibitions Private Ltd |
Percentage of undertaking | 70.00% |
Reg office | B-15/192, Pharma Apartments, Patparganj, I.P. Extension, New Delhi, 110092, India |
INDIA | ReedSI Exhibitions Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ReedSI Exhibitions Private Ltd |
Percentage of undertaking | 51.00% |
Reg office | B-9, "A" Block, LSC, Naraina Vihar, Ring Road, New Delhi, 110028, India |
INDIA | Reed Triune Exhibitions Private Ltd (72%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ReedTriune Exhibitions Private Ltd |
Percentage of undertaking | 72.00% |
Reg office | #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India |
INDIA | RELX India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX India Private Ltd |
Reg office | 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India |
Indonesia [member] | PT Reed Panorama Exhibitions [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT Reed Panorama Exhibitions |
Percentage of undertaking | 50.00% |
Reg office | Panorama Building, 5th Floor, Jalan Tomang Raya No. 63, Jakarta, 11440, Indonesia |
Indonesia [member] | PT Reed Exhibitions Indonesia [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT Reed Exhibitions Indonesia |
Percentage of undertaking | 70.00% |
Reg office | Menara Citicon LeveL8. Unit 8011 & 8012 JL. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia |
Indonesia [member] | PT Reed Exhibitions Indonesia [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PT Reed Exhibitions Indonesia |
Reg office | Menara Citicon LeveL8. Unit 8011 & 8012 JL. Letjen S. Parman No. 8 Kav 72 Slipi Palmerah Jakarta Barat 11410 Indonesia |
Ireland [member] | Butterworth (Ireland) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworth (Ireland) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Arthur Cox Building, Earlsfort Terrace, Dublin 2, Ireland |
Ireland [member] | Elsevier Services Ireland Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Services Ireland Ltd |
Percentage of undertaking | 100.00% |
Reg office | Suite 4320, Atlantic Avenue, Westpark Business Campus, Shannon, Clare, Ireland |
Ireland [member] | LexisNexis Risk Solutions (Ireland) Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions (Ireland) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 80 Harcourt Street, Dublin 2, Ireland |
Ireland [member] | Lexis Nexis Risk Solutions Europe Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions (Europe) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 80 Harcourt Street, Dublin 2, Ireland |
Israel [member] | Lexis Nexis Israel Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Israel Ltd |
Percentage of undertaking | 100.00% |
Reg office | Meitar, attorneys at Law, 16 Abba Hillel Road, Ramat Gan, 5250608, Israel |
Italy [member] | Elsevier SRL [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier SRL |
Percentage of undertaking | 100.00% |
Reg office | Via Marostica 1, 20146, Milan, Italy |
Italy [member] | ICIS Italia SRL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ICIS Italia SRL |
Percentage of undertaking | 100.00% |
Reg office | Studio Colombo e Associati, Via Cino del Duca 5, 20122, Milano, Italy |
Italy [member] | Reed Exhibitions ISG Italy SRL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions ISG Italy SRL |
Percentage of undertaking | 100.00% |
Reg office | Via Marostica 1, 20146, Milan, Italy |
Italy [member] | Reed Exhibitions Italia SRL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Italia SRL |
Percentage of undertaking | 100.00% |
Reg office | Milano (MI) Via Marostica 1 cap 20146 |
Related undertakings - Summar_2
Related undertakings - Summary of Full list of Related Parties - Japan to United Kingdom (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
JAPAN | PatentSight Japan Inc [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PatentSight Japan Inc |
Percentage of undertaking | 100.00% |
Reg office | 7F Cross Office Uchisaiwaicho. 1-18-6 Nishi-Shinbashi, Minato-ku.Tokyo |
JAPAN | ThreatMetrix GK [Member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix GK |
Percentage of undertaking | 100.00% |
Reg office | 2-6, Kasumigaseki 3-chome, Chiyoda-ku,Tokyo |
JAPAN | Ascend Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Ascend Japan KK |
Percentage of undertaking | 100.00% |
Reg office | Kyodo Tsushin Kaikam 2F, 2-2-5 Toronomon, Minato-ku, Tokyo, 105-0001 |
JAPAN | Elsevier Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Japan KK |
Percentage of undertaking | 100.00% |
Reg office | Ark Mori Building, 1-12-32 Akasaka, Minato-ku, Tokyo, 107-6029, Japan |
JAPAN | LexisNexis Japan KK [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Japan KK |
Percentage of undertaking | 100.00% |
Reg office | 1-9-15, Higashi Azabu, Minato-ku Tokyo Japan |
JAPAN | Reed Exhibitions Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Japan KK |
Percentage of undertaking | 100.00% |
Reg office | Shinjuku-Nomura Bldg., 1-26-2 Nishi-shinjuku, Shinjuku-ku, Tokyo, Japan |
JAPAN | Reed ISG Japan KK [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed ISG Japan KK |
Percentage of undertaking | 100.00% |
Reg office | 13-12 Rokubancho, Chiyoda-ku, Tokyo, Japan |
Luxembourg [member] | Fircosoft Luxembourg Sarl [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | FIRCOSOFT Luxembourg Sàrl |
Percentage of undertaking | 100.00% |
Reg office | Bloc B 19-21, Route d’Arlon, L-8009 Strassen, Luxembourg |
Korea (South) [member] | Elsevier Korea LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Korea LLC |
Percentage of undertaking | 100.00% |
Reg office | Chunwoo Building, 4th floor, 534 Itaewon-dong, Yongsan-gu, Seoel, 140-861, Korea, Republic of |
Korea (South) [member] | Lexis Nexis Legal And Professional Service Korea Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Legal and Professional Service Korea Ltd |
Percentage of undertaking | 100.00% |
Reg office | 206 Noksapyeong-daero, Yongsan-gu, Seoel, Korea, Republic of |
Korea (South) [member] | Reed Exhibitions Korea Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Korea Ltd |
Percentage of undertaking | 100.00% |
Reg office | “Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea” |
Korea (South) [member] | Reed Exporum Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exporum Ltd |
Percentage of undertaking | 60.00% |
Reg office | 1324 Block A Tera Tower II, 201, Songpa-daero, Songpa-gu, Seoul, 05854 |
Korea (South) [member] | Reed K. Fairs Ltd seventy percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed K. Fairs Ltd |
Percentage of undertaking | 70.00% |
Reg office | “Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea” |
Malaysia [member] | LexisNexis Malaysia Sdn Bhd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Malaysia Sdn Bhd |
Percentage of undertaking | 100.00% |
Reg office | 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia |
Malaysia [member] | Reed Exhibitions Sdn Bhd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Sdn Bhd |
Percentage of undertaking | 100.00% |
Reg office | 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia |
South Africa [member] | F I R C O S O F T South Africa Proprietary Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft South Africa (Pty) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Regus Brooklyn Bridge, 3rd Floor Steven House, Brooklyn Bridge Office Park, Fehrsen Street, Brooklyn, Pretoria |
South Africa [member] | Globalrange SA Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Globalrange SA (Pty) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Fourways Gold Park, 1st Floor Wentworth Building, 32 Roos Street, Fourways, 2191, South Africa |
South Africa [member] | Korbitec (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Korbitec (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa |
South Africa [member] | LexisNexis Academic (Pty) Ltd ninety percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Academic (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 4001, South Africa |
South Africa [member] | LexisNexis (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa |
South Africa [member] | LexisNexis Risk Management (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Management (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa |
South Africa [member] | LegalPerfectTSoftware Solutions (Pty) Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LegalPerfectTSoftware Solutions (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road [North Ridge Road], Morningside, Durban, Kwa-Zulu Natal, |
South Africa [member] | Property Payment Exchange (SA) (Pty) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Property Payment Exchange (SA) (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road [North Ridge Road], Morningside, Durban, Kwa-Zulu Natal, |
South Africa [member] | RELX (Pty) Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Pty) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 215 Peter Mokaba Road [North Ridge Road], Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
South Africa [member] | Reed Exhibitions (Pty) Ltd ninety percentage [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | Thebe House,2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa |
South Africa [member] | Reed Events Management Pty Ltd [Member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Events Management (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | Thebe House,2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa |
South Africa [member] | Reed Exhibitions Group (Pty) Limited [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Group (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | Thebe House,2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa |
South Africa [member] | Reed Venue Management (Pty) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Venue Management (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | Thebe House,2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa |
South Africa [member] | Winsearch Services (Pty) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Winsearch Services (Pty) Ltd |
Percentage of undertaking | 90.00% |
Reg office | 215 Peter Mokaba Road [North Ridge Road], Morningside, Durban, Kwa-Zulu Natal,4001, South Africa |
Mexico. | Masson-Doyma Mexico, S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Masson -Doyma Mexico, S.A. |
Percentage of undertaking | 100.00% |
Reg office | Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad de México, México |
Mexico. | Reed Exhibitions Mexico S.A. de C.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Mexico S.A. de C.V. |
Percentage of undertaking | 100.00% |
Reg office | Av. Insurgentes No. 1388, Piso 8, Col. Actipan, 03230 Mexico, Mexico |
SINGAPORE | ThreatMetrixPTE Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrixPTE Ltd |
Percentage of undertaking | 100.00% |
Reg office | 8 Robinson Road #03-00ASO Building Singapore 048544 |
SINGAPORE | Elsevier (Singapore) Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier (Singapore) Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore |
SINGAPORE | F4F Agriculture (Asia Pacific) Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | F4F Agriculture (Asia Pacific) Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 16 Raffles Quay, #33-03 Hong Leong Building, Singapore, 048581, Singapore |
SINGAPORE | Lexis-Nexis Philippines Pte Ltd [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Lexis-Nexis Philippines Pte Ltd |
Percentage of undertaking | 75.00% |
Reg office | 80 Robinson Road, #02-00, Singapore, 068898, Singapore |
SINGAPORE | Reed Business Information Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1 Changi Business Park Crescent, #06-01 Plaza 8 & CBP, Singapore, 48602551, Singapore |
SINGAPORE | RE (HAPL) Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (HAPL) Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 3 Killiney Road, #08-01 Winsland House 1, Singapore, 239119, Singapore |
SINGAPORE | RELX (Singapore) Pte. Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Singapore) Pte Ltd |
Percentage of undertaking | 100.00% |
Reg office | 80 Robinson Road, #02-00, Singapore, 068898, Singapore |
SINGAPORE | SAFI Asia Pte Ltd fifty percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SAFI Asia Pte Ltd |
Percentage of undertaking | 50.00% |
Reg office | 1 Changi Business Park Crescent, #06-01 Plaza 8 & CBP, Singapore, 48602551, Singapore |
Morocco [member] | Reed Exhibitions Morocco SARL [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Morocco SARL |
Percentage of undertaking | 100.00% |
Reg office | Forum Bab Abdelaziz au 62, Angle Blvd. d’Anfa, 6ème étage, Apt 61, Casablanca, Morocco |
New Zealand [member] | LexisNexis NZ Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis NZ Ltd |
Percentage of undertaking | 100.00% |
Reg office | Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand |
Philippines. | Reed Elsevier Shared Services (Philippines) Inc. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Shared Services (Philippines) Inc. |
Percentage of undertaking | 100.00% |
Reg office | Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines |
Poland [member] | Elsevier sp. z.o.o. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier sp.z.o.o. |
Percentage of undertaking | 100.00% |
Reg office | Natpoll Building, ul. Migdalowa 4/59, 02-796, Warsaw, Poland |
Russia [member] | Ecwatech Company ZAO [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Ecwatech Company ZAO |
Percentage of undertaking | 100.00% |
Reg office | Pokrovka Street 27, Building 1, Moscow, Russian Federation |
Russia [member] | LexisNexis OOO [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis OOO |
Percentage of undertaking | 100.00% |
Reg office | 24 Bolshaya Nikitskaya Str., bldg. 5, Moscow 125009, Russian Federation |
Russia [member] | Real estate events direct [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Real Estate Events Direct OOO |
Percentage of undertaking | 80.00% |
Reg office | Petrozavodskaya street 28/4, Building VI, room 2, 125475, Moscow, Russian Federation |
Russia [member] | Relx ooo [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX OOO |
Percentage of undertaking | 100.00% |
Reg office | 24 Bolshaya Nikitskaya Str., bldg. 5, Moscow 125009, Russian Federation |
Saudi Arabia [member] | Reed Sunaidi Exhibitions [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Sunaidi Exhibitions |
Percentage of undertaking | 50.00% |
Reg office | Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia |
Spain [member] | Elsevier Espana, S.L. [member] | Participations shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Espana, S.L. |
Percentage of undertaking | 100.00% |
Reg office | C/ Josep Tarradellas 20-30, 1º / 20029, Barcelona, Spain |
Switzerland [member] | Elsevier finance SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Finance SA |
Percentage of undertaking | 100.00% |
Reg office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Switzerland [member] | Fircosoft Schweiz GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Fircosoft Schweiz GmbH |
Percentage of undertaking | 100.00% |
Reg office | Bahnhofstrasse 100 – 8001 Zurich |
Switzerland [member] | RELX risks SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Risks SA |
Percentage of undertaking | 100.00% |
Reg office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Switzerland [member] | RELX Swiss holdings SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Swiss Holdings SA |
Percentage of undertaking | 100.00% |
Reg office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Taiwan [member] | Elsevier Taiwan LLC [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Taiwan LLC |
Percentage of undertaking | 100.00% |
Reg office | Suite N-818, 8/F, Chia Hsin Cement Building, 96 Zhong Shan North Road, Section 2, Taipei, 10449, Taiwan |
Netherlands [member] | Misset Uitgeverij B.V. [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Misset Uitgeverij B.V. |
Percentage of undertaking | 49.00% |
Reg office | Prins Hendrikstraat 17,7001GK Doetinchem |
Netherlands [member] | One Business B.V. [Member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | One Business B.V. |
Percentage of undertaking | 100.00% |
Reg office | Spaklerweg 53,1114AE Amsterdam-Duivendrecht |
Netherlands [member] | AGRM Solutions C.V. [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | AGRM Solutions C.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | Elsevier B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | Elsevier Employment Services B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Employment Services B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | LexisNexis Business Information Solutions B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Business Information Solutions B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | ThreatMetrix BV [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix BV |
Percentage of undertaking | 100.00% |
Reg office | Evertvan de Beekstraat 1 The Base 3/F, 1118CL Schiphol |
Netherlands [member] | LexisNexis Univentio B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Univentio B.V. |
Percentage of undertaking | 100.00% |
Reg office | Galileiweg 8, 2333 BD Leiden, Netherlands |
Netherlands [member] | Reed Business B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX finance B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Finance B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX holdings B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Holdings B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX NederLand B.V. [member] | E shares / RE shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX NederLand B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX overseas B.V. [member] | E shares / RE shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Overseas B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | RELX US holdings (Amsterdam) B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX US Holdings (Amsterdam) B.V. |
Percentage of undertaking | 100.00% |
Reg office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Thailand [member] | Reed Holding (ThaiLand) Co., Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Holding (ThaiLand) Co., Ltd |
Percentage of undertaking | 100.00% |
Reg office | 540 Mercury Tower, 22nd Floor, Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 |
Thailand [member] | Reed Tradex Company Ltd [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Tradex Company Ltd |
Percentage of undertaking | 49.00% |
Reg office | Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom, Bangrak, Bangkok, 10500, Thailand |
TURKEY | Reed Tuyap Fuarcilik A.S. [member] | Class A-shares / Class B-shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Tüyap Fuarcilik A. Ș. |
Percentage of undertaking | 50.00% |
Reg office | Tüyap Fuar ve Kongre Merkezi, E – 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece, Istanbul, 34500, Turkey |
TURKEY | Elsevier STM Bilgi Hizmetleri Limited Sirketi [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier STM Bilgi Hizmetleri Limited Șirketi |
Percentage of undertaking | 100.00% |
Reg office | Maslak Mah. Bilim Sokak Sun Plaza Kat:13Șișli-Maslak, Istanbul, Turkey |
United Kingdom [member] | Bradfield Brett Holdings Ltd [member] | Seven point five preferred income shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | BradfieId Brett Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Butterworth and Co. (Publishers) Ltd [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworth & Co. (Publishers) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Butterworth and Co. (Publishers) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworth & Co. (Publishers) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Butterworth and Co. (Publishers) Ltd [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworth & Co. (Publishers) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Butterworth and Co. (Publishers) Ltd [member] | Four point five cumulative preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworth & Co. (Publishers) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Adaptris Group Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Adaptris Group Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Adaptris Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Adaptris Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Digital Foundry Network [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Digital Foundry Network |
Percentage of undertaking | 50.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Formpart (HPL) Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Formpart (HPL) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Gamer Edition Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Edition Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Gamer Events Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Gamer Network Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Network Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Hallplaza Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Hallplaza Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Imbibe Media Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Imbibe Media Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Indicium Financial Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Indicium Financial Ltd |
Percentage of undertaking | 100.00% |
Reg office | 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU |
United Kingdom [member] | Information Handling Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Information Handling Ltd |
Percentage of undertaking | 85.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Butterworth and Co. (Overseas) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworth & Co. (Overseas) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Insurance Initiatives Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Insurance Initiatives Ltd |
Percentage of undertaking | 100.00% |
Reg office | 35 – 37 St. Marys Gate, Nottingham, United Kingdom, NG1 1PU |
United Kingdom [member] | Legend Exhibitions Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Legend Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Lexis Nexis Risk Solutions U K Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions UK Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, London, SL8 8BW,United Kingdom |
United Kingdom [member] | M C M Central Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Central Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | M C M Expo Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Expo Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Butterworths Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Butterworths Ltd |
Percentage of undertaking | 100.00% |
Reg office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | M C M Stategy Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MCM Stategy Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Cordery Compliance Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Cordery Compliance Ltd |
Percentage of undertaking | 72.00% |
Reg office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | Mendeley Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mendeley Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
United Kingdom [member] | Cordery Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Cordery Ltd |
Percentage of undertaking | 72.00% |
Reg office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | M Lex Ltd | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex Ltd |
Percentage of undertaking | 91.00% |
Reg office | Lexis House, 30 Farringdon Street, London, EC4A4 HH, United Kingdom |
United Kingdom [member] | Crediva Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Crediva Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Moreover Technologies Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Moreover Technologies Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Dew Events Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Dew Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Mosby International Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Mosby International Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Drayton Legal Recoveries Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Drayton Legal Recoveries Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Eye, 1 Procter Street, London, WC1V 6EU, United Kingdom |
United Kingdom [member] | Newsflo Ltd | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Newsflo Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | E & P Events LLP [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | E & P Events LLP |
Percentage of undertaking | 50.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Elsevier Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
United Kingdom [member] | Elsevier Life Sciences IP Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Life Sciences IP Ltd |
Percentage of undertaking | 100.00% |
Reg office | The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, United Kingdom |
United Kingdom [member] | Formpart (EPS) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Formpart (EPS) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Gamermania Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamermania Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | George Philip Holdings Limited | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | George Philip Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | NLife Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | NLife Ltd |
Percentage of undertaking | 23.50% |
Reg office | Unit 18-19 Loughborough Technology Centre, Epinal Way, Loughborough, England, LE11 3GE |
United Kingdom [member] | Out There Gaming Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Out There Gaming Ltd |
Percentage of undertaking | 70.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | RE Directors (No.1) Limited [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE Directors (No.1) Limited |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RE Directors (No.2) Limited [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE Directors (No.2) Limited |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Offshore Europe (Management) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Offshore Europe (Management) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Offshore Europe Partnership [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Offshore Europe Partnership |
Percentage of undertaking | 50.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Oxford Spires Management Co; Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Oxford Spires Management Co; Ltd |
Percentage of undertaking | 55.00% |
Reg office | 40 Kimbolton Road, Bedford, England, MK40 2NR |
United Kingdom [member] | Peopletracer Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Peopletracer Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Prean Holdings Ltd [member] | Deferred ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Prean Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RPS Ltd [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RPS Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Symbiotic Technologies Operations Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Symbiotic Technologies Operations Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1st Floor 80 Moorbridge Road, Maidenhead, Berkshire, SL6 8BW |
United Kingdom [member] | VG247 Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | VG247 Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | RE (SOE) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE (SOE) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | RE Secretaries Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RE Secretaries Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed All Energy Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed All-Energy Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Reed Business Information (Holdings) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information (Holdings) Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Reed Business Information (China) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information Ltd |
Percentage of undertaking | 100.00% |
Reg office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Reed Consumer Books Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Consumer Books Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Elsevier (UIG) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier (UIG) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Elsevier Pension Trustee Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Elsevier Pension Trustee Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Events Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Events Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Reed Exhibitions Ltd [member] | Deferred ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Exhibitions Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Reed Midem Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Midem Ltd |
Percentage of undertaking | 100.00% |
Reg office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Reed Nominees Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Nominees Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Overseas Corporation Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Overseas Corporation Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Publishing Corporation Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Publishing Corporation Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | R E L X Holdings Limited | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Holdings) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX (Investments) plc [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (Investments) plc |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX (UK) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX (UK) Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX Finance Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Finance Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX Group plc [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Group plc |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX Group plc [member] | Class E Ordinary Shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Group plc |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX Overseas Holdings Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Overseas Holdings Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | REV Venture Partners Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | REV Venture Partners Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Tracesmart Group Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Tracesmart Group Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Tracesmart Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Tracesmart Ltd |
Percentage of undertaking | 100.00% |
Reg office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | Wunelli Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Wunelli Ltd |
Percentage of undertaking | 100.00% |
Reg office | 1000 Lakeside, Western Road, Portsmouth, PO6 3EN, United Kingdom |
Related undertakings - Summar_3
Related undertakings - Summary of Full list of Related Parties - Japan to United Kingdom (Parenthetical) (Detail) - United Kingdom [member] | 12 Months Ended |
Dec. 31, 2018£ / shares | |
Bradfield Brett Holdings Ltd [member] | Seven point five preferred income shares [member] | |
Disclosure of transactions between related parties [line items] | |
Dividend per share | £ 7.5 |
Butterworth and Co. (Publishers) Ltd [member] | Four point five cumulative preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Dividend per share | £ 4.5 |
Related undertakings - Summar_4
Related undertakings - Summary of Full list of Related Parties - United States to Vietnam (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
US [member] | Flightstats Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Flightstats, Inc |
Percentage of undertaking | 100.00% |
Reg office | 3355 West Alabama Street, Houston, TX 77098 |
US [member] | Gaming Business Asia LLC Fifty Percentage [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gaming Business Asia LLC |
Percentage of undertaking | 50.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Health Market Science Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Health Market Science, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | IDGRBI China Publishers LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | IDG-RBI China Publishers LLC |
Percentage of undertaking | 50.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Intelligize Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Intelligize, Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Knovel Corporation [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Knovel Corporation |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | LexisNexis Claims Solutions Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Claims Solutions Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Coplogic Solutions Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Coplogic Solutions Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Of Puerto Rico Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis of Puerto Rico Inc |
Percentage of undertaking | 100.00% |
Reg office | 9443 Springboro Pike, Miamisburg,OH 45342 |
US [member] | LexisNexis Risk Assets Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Assets Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Risk Data Management Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Data Management Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Risk Holdings Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Holdings Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Aries Systems Corporation [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Aries Systems Corporation |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | LexisNexis Risk Solutions Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Risk Solutions Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | LexisNexis Special Services Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Special Services Inc |
Percentage of undertaking | 100.00% |
Reg office | Puerta Del Condado #1095, Wilson Ave, Local # 3,San Juan, PR 00907 |
US [member] | LexisNexis VitalChek Network Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis VitalChek Network Inc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Managed Technology Services LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Managed Technology Services LLC |
Percentage of undertaking | 51.00% |
Reg office | 1209 Orange Street, Wilmington, DE 19801 |
US [member] | Matthew Bender And Company Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Matthew Bender & Company, Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | MLex US Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | MLex US, Inc |
Percentage of undertaking | 91.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Enclarity Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Enclarity, lnc |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | PoliceReports US LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | PoliceReports.US, LLC |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Portfolio Media Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Portfolio Media, Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Gamer Network lnc. [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Gamer Network lnc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Reed Business Information Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Business Information Inc |
Percentage of undertaking | 100.00% |
Reg office | 3355 West Alabama Street, Houston, TX 77098 |
US [member] | Reed Technology And Information Services Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed Technology and Information Services Inc. |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Lex Machina Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Lex Machina lnc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | RELX Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | RELXUS Holdings Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELXUS Holdings Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Reman Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reman, Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | REVIV Partnership LP [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | REVIV Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | SAFI Americas LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | SAFI Americas LLC |
Percentage of undertaking | 50.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | The Elsevier Foundation [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Elsevier Foundation |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | LexisNexis Rule of Law Foundation [member] | Non Stock Corporation [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | LexisNexis Rule of Law Foundation |
Percentage of undertaking | 100.00% |
Reg office | 9443 Springboro Pike, Miamisburg,OH 45342 |
US [member] | RELX Capital Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | RELX Capital lnc |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | Accuity Asset Verification Services Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Accuity Asset Verification Services Inc |
Percentage of undertaking | 100.00% |
Reg office | 1007 Church Street, Evanston IL 60201 |
US [member] | Science-Metrix Corporation [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Science-Metrix Corporation |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Symbiotic Technologies Operations Inc. [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Symbiotic Technologies Operations Inc. |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | Accuity Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Accuity Inc |
Percentage of undertaking | 100.00% |
Reg office | 1007 Church Street, Evanston IL 60201 |
US [member] | Derman Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Derman, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | Dunlap-Hanna Publishers [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Dunlap-Hanna Publishers |
Percentage of undertaking | 50.00% |
Reg office | 313 Washington Street, Suite 400, Newton, MA 02458 |
US [member] | Elsevier Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Elsevier Holdings Inc. [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Holdings Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Elsevier Medical Information LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier Medical Information LLC |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | Elsevier STM Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Elsevier STM Inc |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | ExitCare LLC [member] | Membership Interest [Member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ExitCare LLC |
Percentage of undertaking | 100.00% |
Reg office | 230 Park Ave, New York, NY 10169 |
US [member] | ThreatMetrix [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | ThreatMetrix, lnc. |
Percentage of undertaking | 100.00% |
Reg office | 1000 Alderman Dr., Alpharetta, GA 30005 |
US [member] | The Reed Elsevier Ventures Two Thousand Five Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2005 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Six Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2006 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Eight Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2008 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Nine Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2009 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Ten Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2010 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Eleven Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2011 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Twelve Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2012 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Reed Elsevier Ventures Two Thousand Thirteen Partnership LP [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Reed Elsevier Ventures 2013 Partnership LP |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
US [member] | The Remick Publishers [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | The Remick Publishers |
Percentage of undertaking | 50.00% |
Reg office | 313 Washington Street, Suite 400, Newton, MA 02458 |
US [member] | World Compliance Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | World Compliance, Inc |
Percentage of undertaking | 100.00% |
Reg office | 1105 North Market St, Wilmington, DE 19801 |
Vietnam [Member] | Reed TradexVietnam LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company name | Reed TradexVietnam LLC |
Percentage of undertaking | 49.00% |
Reg office | 78 Nguyen Bieu, Ward 1, District 5, Ho Chi Minh City |