Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document Information [line items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2017 |
Document Fiscal Year Focus | 2,017 |
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 |
RELX PLC [member] | |
Document Information [line items] | |
Entity Common Stock, Shares Outstanding | 1,144,122,623 |
RELX NV [member] | |
Document Information [line items] | |
Entity Common Stock, Shares Outstanding | 1,019,893,404 |
Consolidated Income Statement
Consolidated Income Statement - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | £ 7,355 | £ 6,895 | £ 5,971 |
Cost of sales | (2,631) | (2,488) | (2,129) |
Gross profit | 4,724 | 4,407 | 3,842 |
Selling and distribution costs | (1,163) | (1,109) | (965) |
Administration and other expenses | (1,693) | (1,627) | (1,444) |
Share of results of joint ventures | 37 | 37 | 64 |
Operating profit | 1,905 | 1,708 | 1,497 |
Finance income | 4 | 8 | 3 |
Finance costs | (186) | (203) | (177) |
Net finance costs | (182) | (195) | (174) |
Disposals and other non-operating items | 11 | (40) | (11) |
Profit before tax | 1,734 | 1,473 | 1,312 |
Current tax | (439) | (374) | (370) |
Deferred tax | 372 | 70 | 72 |
Tax expense | (67) | (304) | (298) |
Net profit for the year | 1,667 | 1,169 | 1,014 |
Attributable to: | |||
RELX PLC and RELX NV shareholders | 1,659 | 1,161 | 1,008 |
Non-controlling interests | 8 | 8 | 6 |
Net profit for the year | £ 1,667 | £ 1,169 | £ 1,014 |
RELX PLC [member] | |||
Basic earnings per share | |||
Basic earnings per share | £ 0.822 | £ 0.563 | £ 0.464 |
Diluted earnings per share | |||
Diluted earnings per share | 0.815 | 0.558 | 0.460 |
RELX NV [member] | |||
Basic earnings per share | |||
Basic earnings per share | 0.822 | 0.563 | 0.494 |
Diluted earnings per share | |||
Diluted earnings per share | £ 0.815 | £ 0.558 | £ 0.489 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of comprehensive income [abstract] | |||
Net profit for the year | £ 1,667 | £ 1,169 | £ 1,014 |
Items that will not be reclassified to profit or loss: | |||
Actuarial gains/(losses) on defined benefit pension schemes | 233 | (262) | 157 |
Tax on items that will not be reclassified to profit or loss | (59) | 45 | (34) |
Total items that will not be reclassified to profit or loss | 174 | (217) | 123 |
Items that may be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | (507) | 670 | 99 |
Fair value movements on cash flow hedges | 137 | (165) | (104) |
Transfer to net profit from cash flow hedge reserve | 25 | 46 | 29 |
Tax on items that may be reclassified to profit or loss | (30) | 19 | 18 |
Total items that may be reclassified to profit or loss | (375) | 570 | 42 |
Other comprehensive (loss)/income for the year | (201) | 353 | 165 |
Total comprehensive income for the year | 1,466 | 1,522 | 1,179 |
Attributable to: | |||
RELX PLC and RELX NV shareholders | 1,458 | 1,514 | 1,173 |
Non-controlling interests | 8 | 8 | 6 |
Total comprehensive income for the year | £ 1,466 | £ 1,522 | £ 1,179 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | |||
Cash generated from operations | £ 2,445 | £ 2,236 | £ 1,882 |
Interest paid | (152) | (160) | (140) |
Interest received | 4 | 8 | 8 |
Tax paid (net) | (449) | (402) | (343) |
Net cash from operating activities | 1,848 | 1,682 | 1,407 |
Cash flows from investing activities | |||
Acquisitions | (131) | (361) | (191) |
Purchases of property, plant and equipment | (51) | (51) | (65) |
Expenditure on internally developed intangible assets | (303) | (282) | (242) |
Purchase of investments | (10) | (6) | (16) |
Proceeds from disposals of property, plant and equipment | 1 | 1 | 1 |
Gross proceeds from business disposals | 84 | 18 | 75 |
Payments on business disposals | (50) | (31) | (41) |
Dividends received from joint ventures | 38 | 44 | 57 |
Net cash used in investing activities | (422) | (668) | (422) |
Cash flows from financing activities | |||
Dividends paid to shareholders of RELX PLC and RELX NV | (762) | (683) | (583) |
Distributions to non-controlling interests | (10) | (9) | (8) |
(Decrease)/increase in short-term bank loans, overdrafts and commercial paper | (148) | 271 | (339) |
Issuance of term debt | 873 | 603 | 500 |
Repayment of term debt | (712) | (474) | (186) |
Repayment of finance leases | (5) | (7) | (9) |
Repurchase of ordinary shares | (700) | (700) | (500) |
Purchase of shares by Employee Benefit Trust | (39) | (29) | (23) |
Proceeds on issue of ordinary shares | 32 | 23 | 24 |
Net cash used in financing activities | (1,471) | (1,005) | (1,124) |
(Decrease)/increase in cash and cash equivalents | (45) | 9 | (139) |
Movement in cash and cash equivalents | |||
At start of year | 162 | 122 | 276 |
(Decrease)/increase in cash and cash equivalents | (45) | 9 | (139) |
Exchange translation differences | (6) | 31 | (15) |
At end of year | £ 111 | £ 162 | £ 122 |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Non-current assets | ||
Goodwill | £ 5,965 | £ 6,392 |
Intangible assets | 3,194 | 3,604 |
Investments in joint ventures | 102 | 102 |
Other investments | 141 | 137 |
Property, plant and equipment | 209 | 242 |
Deferred tax assets | 405 | 444 |
Net pension assets | 22 | |
Derivative financial instruments | 86 | 49 |
Non-current assets | 10,124 | 10,970 |
Current assets | ||
Inventories and pre-publication costs | 197 | 209 |
Trade and other receivables | 1,822 | 1,956 |
Derivative financial instruments | 29 | 20 |
Cash and cash equivalents | 111 | 162 |
Current assets | 2,159 | 2,347 |
Assets held for sale | 6 | |
Total assets | 12,283 | 13,323 |
Current liabilities | ||
Trade and other payables | 3,237 | 3,425 |
Derivative financial instruments | 32 | 85 |
Borrowings | 678 | 1,159 |
Taxation | 560 | 612 |
Provisions | 19 | 23 |
Current liabilities | 4,526 | 5,304 |
Non-current liabilities | ||
Derivative financial instruments | 25 | 110 |
Borrowings | 4,208 | 3,684 |
Deferred tax liabilities | 738 | 1,137 |
Net pension obligations | 350 | 636 |
Provisions | 62 | 89 |
Non-current liabilities | 5,383 | 5,656 |
Liabilities associated with assets held for sale | 5 | |
Total liabilities | 9,909 | 10,965 |
Net assets | 2,374 | 2,358 |
Capital and reserves | ||
Share capital | 224 | 226 |
Share premium | 3,104 | 3,003 |
Shares held in treasury | (1,631) | (1,471) |
Translation reserve | 169 | 727 |
Other reserves | 487 | (165) |
Shareholders' equity | 2,353 | 2,320 |
Non-controlling interests | 21 | 38 |
Total equity | £ 2,374 | £ 2,358 |
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, 2014 | £ 2,137 | £ 212 | £ 2,820 | £ (1,107) | £ 74 | £ 107 | £ 2,106 | £ 31 |
Total comprehensive income for the year | 1,179 | 99 | 1,074 | 1,173 | 6 | |||
Dividends paid | (591) | (583) | (583) | (8) | ||||
Issue of ordinary shares, net of expenses | 24 | 24 | 24 | |||||
Repurchase of ordinary shares | (623) | (623) | (623) | |||||
Cancellation of shares | (4) | 269 | (265) | |||||
Bonus issue of ordinary shares | 18 | (18) | ||||||
Increase in share based remuneration reserve (net of tax) | 47 | 47 | 47 | |||||
Settlement of share awards | 49 | (49) | ||||||
Acquisitions | 4 | 4 | ||||||
Exchange differences on translation of capital and reserves | 1 | (2) | (78) | 19 | 51 | 10 | 1 | |
Equity at end of period at Dec. 31, 2015 | 2,178 | 224 | 2,748 | (1,393) | 224 | 341 | 2,144 | 34 |
Total comprehensive income for the year | 1,522 | 670 | 844 | 1,514 | 8 | |||
Dividends paid | (692) | (683) | (683) | (9) | ||||
Issue of ordinary shares, net of expenses | 23 | 23 | 23 | |||||
Repurchase of ordinary shares | (722) | (722) | (722) | |||||
Cancellation of shares | (6) | 713 | (707) | |||||
Increase in share based remuneration reserve (net of tax) | 44 | 44 | 44 | |||||
Settlement of share awards | 39 | (39) | ||||||
Exchange differences on translation of capital and reserves | 5 | 8 | 232 | (108) | (167) | 35 | 5 | |
Equity at end of period at Dec. 31, 2016 | 2,358 | 226 | 3,003 | (1,471) | 727 | (165) | 2,320 | 38 |
Total comprehensive income for the year | 1,466 | (507) | 1,965 | 1,458 | 8 | |||
Dividends paid | (772) | (762) | (762) | (10) | ||||
Issue of ordinary shares, net of expenses | 32 | 32 | 32 | |||||
Repurchase of ordinary shares | (737) | (737) | (737) | |||||
Cancellation of shares | (4) | 570 | (566) | |||||
Increase in share based remuneration reserve (net of tax) | 42 | 42 | 42 | |||||
Settlement of share awards | 37 | (37) | ||||||
Acquisitions | 1 | 1 | ||||||
Disposal of business | (15) | (15) | ||||||
Exchange differences on translation of capital and reserves | (1) | 2 | 69 | (30) | (51) | 10 | (1) | |
Equity at end of period at Dec. 31, 2017 | £ 2,374 | £ 224 | £ 3,104 | £ (1,631) | £ 169 | £ 487 | £ 2,353 | £ 21 |
Basis of preparation and accoun
Basis of preparation and accounting policies | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [abstract] | |
Basis of preparation and accounting policies | 1 Basis of preparation and accounting policies Basis of preparation RELX PLC and RELX NV are separate, publicly-held entities. RELX PLC’s ordinary shares are listed in London and, through a depositary receipt, in New York, and RELX NV’s ordinary shares are listed in Amsterdam and, through a depositary receipt, in New York. RELX PLC and RELX NV jointly own RELX Group plc, which holds all the Group’s operating businesses and financing activities. RELX PLC, RELX NV, RELX Group plc and its subsidiaries, joint ventures and associates are together known as “the Group”. The Governing Agreement determines the equalisation ratio between RELX PLC and RELX NV shares. One RELX PLC ordinary share confers an equivalent economic interest to one RELX NV ordinary share. As a result of these arrangements, all shareholders can be regarded as having interests in a single economic entity. Consequently, the Directors have concluded that the Group forms a single reporting entity for the presentation of consolidated financial statements. Accordingly, the Group consolidated financial information represents the interests of both sets of shareholders and is presented by both RELX PLC and RELX NV as their respective consolidated financial statements. The Directors of RELX PLC and RELX NV, 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 2017. In preparing the consolidated financial statements, subsidiaries of the Group 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 Non-controlling non-controlling 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 2016 and 2015. 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 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 147. 1 Basis of preparation and accounting policies (continued) 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 15 and 16; ∎ capitalisation of development spend – note 16; ∎ taxation – note 10; 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 straightforward. This policy is included in note 2. Standards and amendments effective for the year The interpretations and amendments to IFRS effective for 2017 have not had a significant impact on the Group’s accounting policies or reporting. Standards, amendments and interpretations not yet effective New accounting standards and amendments and their expected impact on the future accounting policies and reporting of the Group are set out below. IFRS 9 – Financial Instruments (effective for the 2018 financial year). The standard replaces the existing classification and measurement requirements in IAS 39 – Financial Instruments: Recognition and Measurement. Adoption of the standard is not expected to have a significant impact on the measurement, presentation or disclosure of financial assets and liabilities in the consolidated financial statements. The most notable impact for the Group relates to cash flow hedge accounting, which will result in additional disclosure in respect of the costs of hedging reserve balance and movements from 2018 onwards. IFRS 15 – Revenue from Contracts with Customers (effective for the 2018 financial year). The new standard provides a single point of reference for revenue recognition, including guidance in relation to identification of contracts and licensing arrangements. RELX Group will adopt IFRS 15 on a fully retrospective basis. Management have performed a full assessment of the impact of IFRS 15. The adoption of IFRS 15 will not result in a material change to the 2017 income statement reported numbers, and will not result in material differences to the 2018 income statement numbers. IFRS 16 – Leases (early adoption so as to be effective for the 2018 financial year). The new standard 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 Group will adopt this standard a year earlier than the mandatory effective date of 1 January 2019. IFRS 16 will be adopted on a fully retrospective basis. The majority of the RELX Group lease portfolio relates to property leases. Management have performed a full assessment of the impact of IFRS 16. The table below sets out the expected impact on the income statement and the most significantly impacted statement of financial position accounts. 2017 as reported IFRS 9 IFRS 15 IFRS 16 2017 as 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 and RELX NV shareholders 1,635 (2 ) (9 ) (4 ) 1,620 Reported net profit attributable to RELX PLC and RELX NV 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 – – 272 288 Borrowings (including lease liability) (4,886 ) 14 – (381 ) (5,253 ) Finance lease receivable – – – 56 56 Deferred income (1,834 ) – (76 ) – (1,910 ) 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. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 |
Segment analysis
Segment analysis | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [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 125. Revenue represents the value of sales less anticipated returns on transactions completed by performance, excluding customer sales taxes. Revenues are recognised for the various categories as follows: subscriptions – on periodic dispatch of subscribed product or rateably over the period of the subscription where performance is not measurable by despatch; transactional – on despatch or occurrence of the transaction; and advertising – on publication or over the period of online display. Revenue recognition policies, while an area of management focus, are generally straightforward in application as the timing of product or service delivery and customer acceptance for the various revenue types can be readily determined. Allowances for product returns are deducted from revenues based on historical return rates. Where sales consist of two or more components that operate independently, revenue is recognised as each component is completed by performance, based on attribution of relative value. RELX Group is a global provider of information and analytics for professional and business customers across industries operating in four major market segments: Scientific, Technical & Medical is a global information and analytics business that helps institutions and professionals advance healthcare, open science, and improve performance for the benefit of humanity; Risk & Business Analytics provides customers with solutions and decision tools that combine public and industry specific content with advanced technology and analytics to assist them in evaluating and predicting risk and enhancing operational efficiency; Legal is a leading global provider of legal, regulatory and business information and analytics that helps customers increase productivity, improve decision-making and outcomes and advance the rule of law around the world; and Exhibitions is the world’s leading events business, enhancing the power of face-to-face ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2017 2016 £m 2015 2017 2016 2015 Scientific, Technical & Medical 2,478 2,320 2,070 913 853 760 Risk & Business Analytics 2,076 1,906 1,601 759 686 575 Legal 1,692 1,622 1,443 332 311 274 Exhibitions 1,109 1,047 857 285 269 217 Sub-total 7,355 6,895 5,971 2,289 2,119 1,826 Unallocated items – – – (5 ) (5 ) (4 ) Total 7,355 6,895 5,971 2,284 2,114 1,822 ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2017 2016 2015 North America 4,004 3,693 3,166 United Kingdom 1,083 1,055 996 The Netherlands 855 813 649 Rest of Europe 704 707 614 Rest of world 709 627 546 Total 7,355 6,895 5,971 ANALYSIS OF REVENUE BY GEOGRAPHICAL MARKET 2017 2016 2015 North America 4,081 3,778 3,215 United Kingdom 522 504 461 The Netherlands 92 118 117 Rest of Europe 1,081 1,091 958 Rest of world 1,579 1,404 1,220 Total 7,355 6,895 5,971 2 Segment analysis (continued) ANALYSIS OF REVENUE BY FORMAT 2017 2016 2015 Electronic 5,399 4,954 4,179 Print 834 875 906 Face-to-face 1,122 1,066 886 Total 7,355 6,895 5,971 ANALYSIS OF REVENUE BY TYPE 2017 2016 2015 Subscriptions 3,808 3,618 3,123 Transactional 3,449 3,163 2,736 Advertising 98 114 112 Total 7,355 6,895 5,971 ANALYSIS BY BUSINESS SEGMENT Expenditure on Capital expenditure additions Amortisation of acquired Depreciation and other 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 Scientific, Technical & Medical 94 19 7 97 86 74 77 88 77 81 82 86 Risk & Business Analytics – 288 41 83 67 56 141 147 131 52 45 33 Legal 6 83 96 154 156 161 52 73 56 121 113 95 Exhibitions 33 21 67 23 26 27 44 38 32 18 17 14 Total 133 411 211 357 335 318 314 346 296 272 257 228 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 (2016: £3m; 2015: £3m) in Legal and £1m (2016: £1m; 2015: £1m) in Exhibitions. ANALYSIS OF NON-CURRENT 2017 2016 £m 2015 North America 7,304 8,174 6,824 United Kingdom 978 906 787 The Netherlands 154 135 125 Rest of Europe 746 801 723 Rest of world 429 461 399 Total 9,611 10,477 8,858 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 2017 2016 2015 Operating profit 1,905 1,708 1,497 Adjustments: Amortisation of acquired intangible assets 314 346 296 Acquisition-related costs 56 51 35 Reclassification of tax in joint ventures 10 10 (6 ) Reclassification of finance income in joint ventures (1 ) (1 ) – Adjusted operating profit 2,284 2,114 1,822 The share of post-tax results of joint ventures of £37m (2016: £37m; 2015: £64m) included in operating profit comprised £5m (2016: £10m; 2015: £37m) relating to Legal, £32m (2016: £27m; 2015: £28m) relating to Exhibitions and nil (2016: nil; 2015: £1m loss) relating to Risk & Business Analytics. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 |
Operating profit
Operating profit | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [abstract] | |
Operating profit | 3 Operating profit Operating profit is stated after charging/(crediting) the following: Note 2017 2016 2015 Staff costs Wages and salaries 1,926 1,767 1,490 Social security costs 213 198 169 Pensions 6 95 111 58 Share based remuneration 39 38 34 Total staff costs 2,273 2,114 1,751 Depreciation and amortisation Amortisation of acquired intangible assets 16 313 342 292 Share of joint ventures’ amortisation of acquired intangible assets 1 4 4 Amortisation of internally developed intangible assets 16 203 189 157 Depreciation of property, plant and equipment 18 69 68 71 Total depreciation and amortisation 586 603 524 Other expenses and income Cost of sales including pre-publication 2,631 2,488 2,129 Operating lease rentals expense 104 102 90 Operating lease rentals income (3 ) (6 ) (5 ) The amortisation of acquired intangible assets is included within administration and other expenses. |
Auditors' remuneration
Auditors' remuneration | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [abstract] | |
Auditors' remuneration | 4 Auditors’ remuneration 2017 2016 2015 Auditors’ remuneration Payable to the auditors of RELX PLC and RELX NV 0.9 0.9 0.8 Payable to the auditors of the Group’s subsidiaries 5.6 5.3 4.2 Audit services 6.5 6.2 5.0 Audit-related assurance services 0.8 0.6 0.8 Total audit and audit related assurance services 7.3 6.8 5.8 Tax services – 0.4 0.9 Other services: Consulting – 0.1 0.2 Other services: Due diligence and other transaction-related services 0.3 0.4 0.3 Total non-audit 0.3 0.9 1.4 Total auditors’ remuneration 7.6 7.7 7.2 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. Non-audit |
Personnel
Personnel | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [abstract] | |
Personnel | 5 Personnel NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2017 2016 2015 2017 2016 2015 Business segment Scientific, Technical & Medical 7,500 7,500 7,200 7,500 7,300 7,200 Risk & Business Analytics 8,100 8,200 7,600 8,200 7,900 7,500 Legal 10,600 10,700 10,500 10,700 10,600 10,000 Exhibitions 4,000 4,000 3,800 4,000 3,900 3,700 Sub-total 30,200 30,400 29,100 30,400 29,700 28,400 Corporate/shared functions 800 800 900 800 900 900 Total 31,000 31,200 30,000 31,200 30,600 29,300 Geographical location North America 13,500 13,700 13,400 13,600 13,500 13,400 United Kingdom 5,000 4,900 4,700 5,000 4,800 4,500 The Netherlands 1,300 1,400 1,500 1,400 1,500 1,500 Rest of Europe 2,800 2,800 2,800 2,800 2,800 2,800 Rest of world 8,400 8,400 7,600 8,400 8,000 7,100 Total 31,000 31,200 30,000 31,200 30,600 29,300 |
Pension schemes
Pension schemes | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [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 2017, 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 2017 are in the UK and the US. In November 2015, the Netherlands defined benefit pension scheme, together with all associated assets and liabilities, was transferred into an industry-wide collective defined contribution scheme. This scheme is now accounted for as a defined contribution pension plan, with no deficit or surplus recognised on the balance sheet. Prior to this, the scheme was a career average salary scheme and was open to new hires. Major defined benefit schemes in place at 31 December 2017 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. In September 2017, it was announced the US scheme would be 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. Employer cash contributions to defined benefit pension schemes, in respect of 2018, are expected to be approximately £37m including a pension deficit funding contribution of £20m relating to the UK scheme recovery plan. In addition to the contributions set out above, the Group has committed to providing a further £110m of deficit funding contributions to the UK scheme over the period from 2019 to 2022. The triennial valuation will take place during 2018, as part of which funding requirements in future years will be reassessed. LOGO The pension expense, including amounts in relation to the UK, US (for all years) and NL (for 2015 only) defined benefit schemes, and defined contribution schemes in total, recognised within operating profit consists of: 2017 2016 2015 Defined benefit pension expense (net of settlement and past service credits) 4 36 6 Defined contribution pension expense 91 75 52 Total 95 111 58 The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: 2017 2016 2015 UK US Total UK US Total UK US NL Total Service cost 33 14 47 27 14 41 34 18 15 67 Settlement and past service credits (42 ) (1 ) (43 ) – (5 ) (5 ) (1 ) – (60 ) (61) Defined benefit pension expense (9 ) 13 4 27 9 36 33 18 (45 ) 6 Net interest on net defined benefit obligation 10 5 15 9 5 14 14 5 2 21 Net defined benefit pension expense 1 18 19 36 14 50 47 23 (43 ) 27 Net interest on net defined benefit pension scheme liabilities is presented within net finance costs in the income statement. Service cost, including settlements and past service credits, is presented within operating profit. The 2017 settlement and past service cost credits primarily relate to changes to the UK scheme. Settlements and past service credits in 2015 primarily relate to the transfer of the Netherlands scheme to a collective industry-wide 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. 2017 2016 2015 AS AT 31 DECEMBER UK US UK US UK US Discount rate 2.60% 3.55% 2.65% 4.00% 3.85% 4.45% Inflation 3.15% 2.50% 3.25% 2.50% 3.05% 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: Male average life Female average AS AT 31 DECEMBER 2017 UK US UK US Member currently aged 60 years 86 86 88 89 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: 2017 2016 UK £m US £m Total UK £m US £m Total Defined benefit obligation At start of year (3,883 ) (1,120 ) (5,003 ) (3,089 ) (955 ) (4,044 ) Service cost (33 ) (14 ) (47 ) (27 ) (14 ) (41 ) Past service credits 42 1 43 – 5 5 Interest on pension scheme liabilities (101 ) (42 ) (143 ) (117 ) (45 ) (162 ) Actuarial gain/(loss) on financial assumptions 45 (61 ) (16 ) (774 ) (61 ) (835 ) Actuarial (loss)/gain arising from experience assumptions (39 ) 1 (38 ) 22 3 25 Contributions by employees (8 ) – (8 ) (7 ) – (7 ) Benefits paid 123 60 183 109 95 204 Liabilities transferred on settlement* – – – – 36 36 Exchange translation differences – 100 100 – (184 ) (184 ) At end of year (3,854 ) (1,075 ) (4,929 ) (3,883 ) (1,120 ) (5,003 ) Fair value of scheme assets At start of year 3,390 977 4,367 2,838 822 3,660 Interest income on plan assets 91 37 128 108 40 148 Return on assets excluding amounts included in interest income 181 106 287 502 46 548 Contributions by employer 42 43 85 44 41 85 Contributions by employees 8 – 8 7 – 7 Benefits paid (123 ) (60 ) (183 ) (109 ) (95 ) (204 ) Assets transferred on settlement* – – – – (36 ) (36 ) Exchange translation differences – (91 ) (91 ) – 159 159 At end of year 3,589 1,012 4,601 3,390 977 4,367 Opening net deficit (493 ) (143 ) (636 ) (251 ) (133 ) (384 ) Service cost (33 ) (14 ) (47 ) (27 ) (14 ) (41 ) Net interest on net defined benefit obligation (10 ) (5 ) (15 ) (9 ) (5 ) (14 ) Settlement and past service credits 42 1 43 – 5 5 Contributions by employer 42 43 85 44 41 85 Actuarial gains/(losses) 187 46 233 (250 ) (12 ) (262 ) Exchange translation differences – 9 9 – (25 ) (25 ) Overall net pension obligation (265 ) (63 ) (328 ) (493 ) (143 ) (636 ) * In 2016, the settlement relates to an annuity purchase in the US. As at 31 December 2017, the defined benefit obligations comprised £4,690m (2016: £4,760m) in relation to funded schemes and £239m (2016: £243m) in relation to unfunded schemes. The weighted average duration of defined benefit scheme liabilities is 20 years in the UK (2016: 20 years) and 13 years in the US (2016: 13 years). Deferred tax assets of £66m (2016: £145m) are recognised in respect of the pension scheme deficits. A net pension asset has been recognised in relation to the US funded scheme after considering the guidance in IAS 19 Employee Benefits and IFRIC 14. The split between net pension obligations and net pension assets is as follows: 2017 2016 Net pension asset 22 – Net pension obligation (350 ) (636 ) Overall net pension obligation (328 ) (636 ) LOGO Amounts recognised in the statement of comprehensive income are set out below: 2017 2016 2015 Gains and losses arising during the year: Experience (losses)/gains on scheme liabilities (38 ) 25 182 Experience gains/(losses) on scheme assets 287 548 (134 ) Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates (102 ) (873 ) 96 – inflation 69 (96 ) (64 ) – other actuarial assumptions 17 134 77 233 (262 ) 157 Net cumulative losses at start of year (846 ) (584 ) (741 ) Net cumulative losses at end of year (613 ) (846 ) (584 ) The major categories and fair values of scheme assets at the end of the reporting period are as follows: FAIR VALUE OF SCHEME ASSETS 2017 2016 UK £m US £m Total UK £m US Total Equities 1,252 143 1,395 1,261 330 1,591 Government bonds 1,395 221 1,616 1,390 104 1,494 Corporate bonds – 622 622 – 527 527 Property funds and ground leases 620 – 620 487 – 487 Structured debt and direct lending 253 – 253 162 – 162 Cash and cash equivalents 46 18 64 69 15 84 Other 23 8 31 21 1 22 Total 3,589 1,012 4,601 3,390 977 4,367 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: 222 Increase/decrease of 0.25% in the expected inflation rate: 134 Increase/decrease of one year in assumed life expectancy: 179 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. |
Share based remuneration
Share based remuneration | 12 Months Ended |
Dec. 31, 2017 | |
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Share based remuneration | 7 Share based remuneration Accounting policy 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 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. Share based remuneration awards are, other than upon retirement or in exceptional circumstances, subject to the condition that the employee remains in employment at the time of exercise. Conditional shares granted under LTIP, RSP and BIP between 2014 and 2017 are subject to the achievement of growth targets of adjusted earnings per share measured at constant exchange rates as well as the achievement of a targeted percentage return on invested capital of the Group. LTIP grants between 2014 and 2017 and RSP grants in 2014 and 2017 are also variable subject to the achievement of a total shareholder return performance target. The weighted average fair value per award is based on full vesting on achievement of non-market-related non-market-related In respect of RELX PLC In respect of RELX NV Number of Weighted £ Number of Weighted £ 2017 GRANTS Share options 1,688 1.60 1,647 1.30 Conditional shares 1,637 13.74 1,631 13.33 2016 GRANTS Share options 1,727 1.49 1,668 1.12 Conditional shares 1,706 11.51 1,778 11.41 2015 GRANTS Share options 1,911 1.23 1,827 0.77 Conditional shares 1,841 10.44 1,874 9.72 LOGO The main assumptions used to determine the fair values, which have been established with advice from and data provided by independent actuaries, are set out below: ASSUMPTIONS FOR GRANTS MADE DURING THE YEAR In respect of RELX PLC ordinary shares In respect of RELX NV ordinary shares 2017 2016 2015 2017 2016 2015 Weighted average share price at date of grant – Share options* £15.44 £12.52 £11.44 €17.04 € € – Conditional shares £15.07 £12.68 £11.55 €16.71 € € Expected share price volatility 16% 17% 19% 19% 19% 19% Expected option life 4 years 4 years 4 years 4 years 4 years 4 years Expected dividend yield 3.0% 3.0% 3.5% 3.0% 3.0% 4.2% Risk-free interest rate 0.3% 0.7% 0.8% 0.0% 0.0% 0.0% Expected lapse rate 2-5% 2-5% 2-5% 2-5% 2-4% 2-4% * Weighted average exercise price is disclosed in the table below. Expected share price volatility has been estimated based on relevant historical data in respect of the RELX PLC and RELX NV ordinary share prices. Expected share option life has been estimated based on historical exercise patterns in respect of RELX PLC and RELX NV share options. The share based remuneration options outstanding as at 31 December 2017, in respect of both RELX PLC and RELX NV ordinary shares, are set out below: SHARE OPTIONS In respect of RELX PLC In respect of RELX NV Number of ’000 Weighted Number of ’000 Weighted (€) Outstanding at 1 January 2015 9,327 629 9,468 7.58 Granted 1,911 978 1,827 14.80 Exercised (2,053 ) 627 (1,716 ) 7.32 Forfeited (254 ) 694 (680 ) 7.51 Expired (191 ) 618 (438 ) 6.18 Outstanding at 1 January 2016 8,740 704 8,461 9.27 Granted 1,727 1,164 1,668 15.31 Exercised (1,954 ) 519 (1,778 ) 8.05 Forfeited (424 ) 489 (310 ) 12.41 Expired (147 ) 470 (144 ) 8.56 Outstanding at 1 January 2017 7,942 865 7,897 10.71 Granted 1,688 1,396 1,647 17.06 Exercised (2,130 ) 700 (2,170 ) 9.86 Forfeited (394 ) 1,135 (186 ) 15.54 Expired (140 ) 762 (140 ) 9.20 Outstanding at 31 December 2017 6,966 1,031 7,048 12.36 Exercisable at 31 December 2015 3,105 551 4,886 8.02 Exercisable at 31 December 2016 2,598 598 4,770 8.91 Exercisable at 31 December 2017 2,162 696 4,241 10.14 The weighted average share price at the date of exercise of share options and vesting of conditional shares during 2017 was 1,560p (2016: 1,278p; 2015: 1,118p) for RELX PLC ordinary shares and € € € RANGE OF EXERCISE PRICES FOR OUTSTANDING SHARE OPTIONS 2017 2016 2015 Number of ’000 Weighted Number of ’000 Weighted Number of ’000 Weighted RELX PLC ordinary shares (pence) 401-600 1,043 2.8 1,672 3.6 2,950 4.0 601-800 733 3.6 1,922 3.4 2,856 4.4 801-1,000 1,272 4.0 1,732 5.3 1,903 6.3 1,001-1,200 1,465 5.3 1,657 6.2 1,031 9.3 1,201-1,400 1,530 6.1 949 9.2 – – 1,401-1,600 896 9.2 10 9.7 – – 1,601-1,800 27 9.7 – – – – Total 6,966 5.2 7,942 5.1 8,740 5.3 RELX NV ordinary shares (€) 4.01-6.00 1,032 3.2 1,380 4.2 1,924 5.4 6.01-8.00 506 1.8 965 2.2 1,446 2.8 8.01-10.00 617 5.4 1,181 5.6 1,971 5.9 10.01-12.00 865 6.2 1,239 7.2 1,333 8.2 12.01-14.00 69 6.3 114 7.5 143 8.4 14.01-16.00 2,600 7.7 3,002 8.7 1,625 9.2 16.01-18.00 1,154 9.1 16 8.3 19 9.0 18.01-20.00 205 9.0 – – – – Total 7,048 6.5 7,897 6.4 8,461 6.3 Share options are expected, upon exercise, to be met by the issue of new ordinary shares. |
Net finance costs
Net finance costs | 12 Months Ended |
Dec. 31, 2017 | |
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Net finance costs | 8 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. 2017 2016 2015 Interest on short-term bank loans, overdrafts and commercial paper (10 ) (15 ) (11 ) Interest on term debt (152 ) (160 ) (141 ) Total borrowing costs (162 ) (175 ) (152 ) Losses on loans and derivatives not designated as hedges (9 ) (14 ) (3 ) Fair value losses on designated fair value hedge relationships – – (1 ) Net financing charge on defined benefit pension schemes (15 ) (14 ) (21 ) Finance costs (186 ) (203 ) (177 ) Interest on bank deposits 3 6 3 Fair value gains on designated fair value hedge relationships 1 – – Gains on loans and derivatives not designated as hedges – 2 – Finance income 4 8 3 Net finance costs (182 ) (195 ) (174 ) A net gain of £63m (2016: loss of £26m; 2015: loss of £48m) on interest rate derivatives designated as cash flow hedges was recognised in other comprehensive income and accumulated in the hedge reserve. This included gains of £78m (2016: losses of £18m; 2015: losses of £42m) related to foreign exchange movements on debt hedges, which were reclassified immediately to the income statement and offset £78m (2016: £18m gains; 2015: £42m gains) of foreign exchange losses on the related debt. The remaining loss of £15m (2016: £8m; 2015: £6m) recognised in other comprehensive income may be reclassified to the income statement in future periods. Including the £78m (2016: losses of £18m; 2015: losses of £42m) of foreign exchange gains, net gains of £65m (2016: losses of £27m; 2015: losses of £48m) in total were transferred from the hedge reserve in the period. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 |
Disposals and other non-operati
Disposals and other non-operating items | 12 Months Ended |
Dec. 31, 2017 | |
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Disposals and other non-operating items | 9 Disposals and other non-operating 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 2017 2016 2015 Revaluation of held for trading investments 5 (13 ) 8 Gain/(loss) on disposal of businesses and assets held for sale 6 (27 ) (19 ) Net gain/(loss) on disposals and other non-operating 11 (40 ) (11 ) |
Taxation
Taxation | 12 Months Ended |
Dec. 31, 2017 | |
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Taxation | 10 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. Accounting policy (continued) 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 In particular, although we report cross-border transactions undertaken between Group subsidiaries on an arm’s-length 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. 2017 2016 2015 Current tax United Kingdom (104 ) (80 ) (65 ) The Netherlands (77 ) (51 ) (45 ) Rest of world (258 ) (243 ) (260 ) Total current tax charge (439 ) (374 ) (370 ) Deferred tax 372 70 72 Tax expense (67 ) (304 ) (298 ) Cash tax paid in the year was £449m (2016: £402m; 2015: £343m), which is different to the tax expense for the year set out above. There are a number of reasons why the cash tax payments in a particular year will be different from the tax expense in the accounts: Deferred tax: ◾ Tax expense includes deferred tax, which is an accounting adjustment arising from temporary differences; ◾ Temporary differences occur when an item has to be included in the income statement in one year but is taxed in another year; and ◾ For the purposes of acquisition accounting only, the Group recognises deferred tax liabilities arising on intangible assets. Any unwind of these deferred tax liabilities from the amortisation of intangible assets does not result in cash tax payments. Timing differences: ◾ Tax payments relating to a particular year’s profits are typically due partly in the year and partly in the following year. Prior period adjustments: ◾ Current tax expense is the best estimate at the end of the period of cash tax expected to be paid; and ◾ To the extent the final liability is higher or lower than that estimate, any cash tax impact will occur in a later period. LOGO 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 lower than the current tax expense 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: 2017 2016 2015 £m % £m % £m % Profit before tax 1,734 1,473 1,312 Tax at average applicable rates (392 ) 22.6% (330 ) 22.4% (299 ) 22.8% Tax effect of share of results of joint ventures 7 (0.4)% 7 (0.5)% 11 (0.8)% Expenses not deductible for tax purposes (14 ) 0.7% (18 ) 1.3% (16 ) 1.1% US state taxes (18 ) 1.0% (13 ) 0.9% (9 ) 0.7% Non-deductible (1 ) 0.1% (1 ) 0.1% (3 ) 0.2% Non-deductible (36 ) 2.1% (8 ) 0.5% 4 (0.3)% Tax losses of the period not recognised (10 ) 0.6% (2 ) 0.1% (2 ) 0.2% Recognition and utilisation of tax losses that arose in prior years 16 (0.9)% 32 (2.1)% – 0.0% Other adjustments in respect of prior periods 35 (2.0)% 28 (1.9)% 16 (1.2)% Deferred tax effect of changes in tax rates 346 (19.9)% 1 (0.1)% – 0.0% Tax expense (67 ) 3.9% (304 ) 20.7% (298 ) 22.7% The weighted average applicable tax rate for the year was 22.6% (2016: 22.4%, 2015: 22.8%), reflecting the applicable rates in the countries where the Group operates. The Group’s future tax charge will be sensitive to the geographic mix of profits and losses and the tax rates and laws in force in the jurisdictions in which we operate. In the UK, a reduction in the corporate tax rate from 18% to 17% from April 2020 was enacted on 6 September 2016. In the US, the Tax Cuts and Jobs Act which includes a reduction in the federal corporate tax rate from 35% to 21% from January 2018 was enacted on 22 December 2017. Consequently, the Group has measured its US deferred tax assets and liabilities at the end of the reporting period at a combined (federal and state) tax rate of 26%. This has resulted in the recognition of an exceptional deferred tax credit of £346m in the income statement and a reduction in the reported tax rate to 3.9% (2016: 20.7%, 2015: 22.7%). The following tax has been recognised in other comprehensive income or directly in equity during the year: 2017 2016 2015 £m £m £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes (59 ) 45 (34 ) Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges (30 ) 19 18 Net tax (debit)/credit recognised in other comprehensive income (89 ) 64 (16 ) Tax credit on share based remuneration recognised directly in equity 8 10 17 The measurement of the US deferred tax assets and liabilities has also resulted in a charge of £10m in other comprehensive income and a charge of £5m directly in equity. 2017 2016 £m £m Deferred tax assets 405 444 Deferred tax liabilities (738 ) (1,137) Total (333 ) (693) 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 Acquired Other Excess of Tax losses Pensions Other Total Deferred tax (liability)/asset at 1 January 2016 (339 ) (702 ) (291 ) 251 32 103 295 (651 ) Credit/(charge) to profit 9 91 4 (28 ) 26 (1 ) (31 ) 70 Credit to equity/other comprehensive income – – 4 – – 33 17 54 Acquisitions – (38 ) – – 3 – – (35 ) Exchange translation differences (63 ) (118 ) (55 ) 40 9 10 46 (131 ) Deferred tax (liability)/asset at 1 January 2017 (393 ) (767 ) (338 ) 263 70 145 327 (693 ) Credit/(charge) to profit 97 298 2 (15 ) 22 – (32 ) 372 (Charge)/credit to equity/other comprehensive income – – 7 – – (76 ) (20 ) (89 ) Acquisitions – (2 ) – – – – – (2 ) Exchange translation differences 29 45 27 9 (5 ) (3 ) (23 ) 79 Deferred tax (liability)/asset at 31 December 2017 (267 ) (426 ) (302 ) 257 87 66 252 (333 ) 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 of approximately £143m (2016: £111m) carried forward at year end. The deferred tax asset not recognised in respect of these losses is approximately £34m (2016: £30m). Of the unrecognised losses, £30m (2016: £31m) will expire if not utilised within ten years and £113m (2016: £80m) will expire after more than ten years. Deferred tax assets of approximately £4m (2016: £7m) have not been recognised in respect of tax losses and other temporary differences carried forward of £23m (2016: £42m), which can only be used to offset future capital gains. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2017 | |
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Earnings per share | 11 Earnings per share Accounting policy With effect from 6 April 2016, the UK government abolished tax credits on dividends paid after this date, including the 2015 final dividend, which was paid in May 2016. As a result of the abolition of this credit, dividends and therefore earnings per share are equal for both RELX PLC and RELX NV. 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. In calculating earnings per share of the Group up until the end of 2015 (prior to the abolition of the tax credit), the earnings for each class of share were calculated on the basis that earnings are fully distributed. The Group’s usual practice is for only a portion of earnings to be distributed by way of dividends. Until the end of 2015, dividends paid to RELX PLC and RELX NV shareholders were, other than in special circumstances, equalised at the gross level inclusive of the prevailing UK tax credit available to certain RELX PLC shareholders. The allocation of earnings between the RELX PLC shares and the RELX NV shares reflected the differential in dividend payments declared as a result of the tax credit, with the balance of earnings assumed to be distributed as a capital distribution, in equal amounts per share. Adjusted earnings per share is calculated by dividing adjusted net profit attributable to shareholders by the total weighted average number of shares for the Group. EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2017 2016 Net profit Weighted EPS Net profit Weighted EPS Basic earnings per share for RELX PLC and RELX NV (pence) 1,659 2,019.4 82.2p 1,161 2,062.3 56.3p Diluted earnings per share for RELX PLC and RELX NV (pence) 1,659 2,035.2 81.5p 1,161 2,079.8 55.8p ALLOCATION OF EARNINGS – 2015 2015 FOR THE YEAR ENDED 31 DECEMBER £m RELX PLC Allocation of distributed earnings 294 Allocation of undistributed earnings 224 Total net profit allocated to RELX PLC shares 518 RELX NV Allocation of distributed earnings 291 Allocation of undistributed earnings 199 Total net profit allocated to RELX NV shares 490 Total net profit attributable to RELX PLC and RELX NV shareholders 1,008 EARNINGS PER SHARE – 2015 2015 FOR THE YEAR ENDED 31 DECEMBER Weighted EPS Basic earnings per share RELX PLC 1,116.2 46.4p RELX NV 992.4 49.4p Diluted earnings per share RELX PLC 1,125.9 46.0p RELX NV 1,001.6 48.9p The diluted figures are calculated after taking account of potential additional ordinary shares arising from share options and conditional shares. ADJUSTED EARNINGS PER SHARE 2017 2016 2015 Adjusted net Weighted (millions) Adjusted Adjusted net Weighted Adjusted Adjusted net Weighted Adjusted Adjusted earnings per share for RELX PLC and RELX NV (pence) 1,635 2,019.4 81.0p 1,488 2,062.3 72.2p 1,275 2,108.6 60.5p RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC AND RELX NV SHAREHOLDERS 2017 2016 2015 Net profit attributable to RELX PLC and RELX NV shareholders 1,659 1,161 1,008 Adjustments (post-tax): Amortisation of acquired intangible assets 356 364 311 Acquisition-related costs 43 38 27 Net financing charge on defined benefit pension schemes 11 10 16 Disposals and other non-operating 5 6 (2 ) Other deferred tax credits from intangible assets* (93 ) (91 ) (85 ) Exceptional tax credit (346 ) – – Adjusted net profit attributable to RELX PLC and RELX NV shareholders 1,635 1,488 1,275 * Movements on deferred tax liabilities arising on acquired intangible assets that do not qualify for tax amortisation. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 |
Statement of cash flows
Statement of cash flows | 12 Months Ended |
Dec. 31, 2017 | |
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Statement of cash flows | 12 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 2017 2016 2015 Profit before tax 1,734 1,473 1,312 Disposals and other non-operating (11 ) 40 11 Net finance costs 182 195 174 Operating profit 1,905 1,708 1,497 Share of results of joint ventures (37 ) (37 ) (64 ) Amortisation of acquired intangible assets 313 342 292 Amortisation of internally developed intangible assets 203 189 157 Depreciation of property, plant and equipment 69 68 71 Share based remuneration 39 38 34 Total non-cash 624 637 554 Decrease/(increase) in inventories and pre-publication 2 (24 ) (17 ) Decrease/(increase) in receivables 35 (146 ) (150 ) (Decrease)/increase in payables (84 ) 98 62 Increase in working capital (47 ) (72 ) (105 ) Cash generated from operations 2,445 2,236 1,882 CASH FLOW ON ACQUISITIONS Note 2017 2016 2015 Purchase of businesses 13 (117 ) (336 ) (158 ) Investment in joint ventures (1 ) (1 ) (8 ) Deferred payments relating to prior year acquisitions (13 ) (24 ) (25 ) Total (131 ) (361 ) (191 ) RECONCILIATION OF NET BORROWINGS Cash and Borrowings Related 2017 2016 2015 At start of year 162 (4,843 ) (19 ) (4,700 ) (3,782 ) (3,550 ) (Decrease)/increase in cash and cash equivalents (45 ) – – (45 ) 9 (139 ) Decrease/(increase) in short-term bank loans, overdrafts and commercial paper – 152 (4 ) 148 (271 ) 339 Issuance of term debt – (873 ) – (873 ) (603 ) (500 ) Repayment of term debt – 712 – 712 474 186 Repayment of finance leases – 5 – 5 7 9 Change in net borrowings resulting from cash flows (45 ) (4 ) (4 ) (53 ) (384 ) (105 ) Inception of finance leases – (2 ) – (2 ) (3 ) (12 ) Fair value and other adjustments to borrowings and related derivatives – (73 ) 64 (9 ) (22 ) 4 Exchange translation differences (6 ) 36 2 32 (509 ) (119 ) At end of year 111 (4,886 ) 43 (4,732 ) (4,700 ) (3,782 ) Net borrowings comprise cash and cash equivalents, loan capital, finance leases, 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, 2017 | |
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Acquisitions | 13 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 Fair value Fair value 2017 £m 2016 £m 2015 £m Goodwill 77 222 100 Intangible assets 56 189 111 Property, plant and equipment – 1 – Current assets 3 12 9 Current liabilities (16 ) (20 ) (23) Deferred tax (2 ) (35 ) (19) Net assets acquired 118 369 178 Consideration (after taking account of £7m (2016: £10m; 2015: £3m) net cash acquired) 118 369 178 Less: consideration deferred to future years (1 ) (15 ) (20) Less: acquisition date fair value of equity interest – (18 ) – Net cash flow 117 336 158 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 2017 contributed £12m to revenue, increased adjusted operating profit by £2m, decreased net profit by £6m and contributed nil to net cash inflow from operating activities for the part year under the Group’s ownership and before taking account of acquisition financing costs. Had the businesses been acquired at the beginning of the year, on a pro forma basis the Group revenues, adjusted operating profit and net profit attributable to RELX PLC and RELX NV shareholders for the year would have been £7,368m, £2,288m and £1,662m respectively, before taking account of acquisition financing costs. |
Equity dividends
Equity dividends | 12 Months Ended |
Dec. 31, 2017 | |
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Equity dividends | 14 Equity dividends ORDINARY DIVIDENDS PAID IN THE YEAR 2017 2016 2015 £m £m £m RELX PLC 400 356 295 RELX NV 362 327 288 Total 762 683 583 Ordinary dividends declared and paid in the year ended 31 December 2017, in amounts per ordinary share, comprise: a 2016 final dividend of 25.7p (2016: 22.3p; 2015: 19p) and a 2017 interim dividend of 11.7p (2016: 10.25p; 2015: 7.4p), giving a total of 37.4p (2016: 32.55p; 2015: 26.4p) for RELX PLC; and a 2016 final dividend of € € € € € € € € € The Directors of RELX PLC have proposed a final dividend of 27.7p (2016: 25.7p; 2015: 22.3p), giving a total for the financial year of 39.4p (2016: 35.95p; 2015: 29.7p). The Directors of RELX NV have proposed a final dividend of € € € € € € RELX NV dividends per share were adjusted retrospectively in 2015 to reflect the bonus issue declared on 30 June 2015. Until the end of 2015, dividends paid to RELX PLC and RELX NV shareholders were, other than in special circumstances, equalised at the gross level inclusive of the prevailing UK tax credit received by certain RELX PLC shareholders. With effect from 6 April 2016 the UK government abolished the dividend tax credits previously available to certain RELX PLC shareholders, impacting dividends paid after this date. The Employee Benefit Trust has currently waived the right to receive dividends on RELX PLC and RELX NV shares. This waiver has been applied to dividends paid in 2017, 2016 and 2015. LOGO |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
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Goodwill | 15 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. 2017 2016 £m £m At start of year 6,392 5,231 Acquisitions 77 222 Disposals/reclassified as held for sale (72 ) (19 ) Transfers 11 – Exchange translation differences (443 ) 958 At end of year 5,965 6,392 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 £1,173m (2016: £1,284m), which was charged prior to the adoption of IFRS, and £9m (2016: £9m) of subsequent impairment charges recorded in prior years. Impairment review Impairment testing of goodwill and indefinite lived intangible assets is performed at least annually in accordance with the methodology described above. There were no charges for impairment of goodwill in 2017 (2016: nil; 2015: 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 2017 2016 £m £m Scientific, Technical & Medical 1,479 1,549 Risk & Business Analytics 2,595 2,829 Legal 1,390 1,499 Exhibitions 501 515 Total 5,965 6,392 The key assumptions used for each group of cash generating units are disclosed below: KEY ASSUMPTIONS 2017 2016 Pre-tax Nominal long-term Pre-tax Nominal long-term Scientific, Technical & Medical 10.1% 3% 10.0% 3% Risk & Business Analytics 12.3% 3% 11.7% 3% Legal 12.7% 2% 12.4% 2% Exhibitions 12.6% 3% 12.6% 3% The pre-tax 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 |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2017 | |
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Intangible assets | 16 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 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 embraces 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. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 16 Intangible assets (continued) Market and £m Content, Total Internally £m Total Cost At 1 January 2016 3,158 3,133 6,291 2,053 8,344 Acquisitions 103 86 189 – 189 Additions – – – 280 280 Disposals/reclassified as held for sale – – – (100 ) (100 ) Exchange translation differences 611 460 1,071 317 1,388 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 31 December 2017 3,519 3,492 7,011 2,691 9,702 Accumulated amortisation At 1 January 2016 1,402 2,611 4,013 1,175 5,188 Charge for the year 204 138 342 189 531 Disposals/reclassified as held for sale – – – (96 ) (96 ) Exchange translation differences 287 390 677 197 874 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 31 December 2017 1,907 3,046 4,953 1,555 6,508 Net book amount At 31 December 2016 1,979 540 2,519 1,085 3,604 At 31 December 2017 1,612 446 2,058 1,136 3,194 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 £120m (2016: £175m) that arose on acquisitions completed prior to the adoption of IFRS that have not been allocated to specific categories of intangible assets. Internally developed intangible assets typically comprise software and systems development where an identifiable asset is created that is expected to generate future economic benefits. Included in market and customer-related intangible assets are £112m (2016: £123m) of journal titles relating to Scientific, Technical & Medical determined to have indefinite lives based on an assessment of their historical longevity and stable market positions. In 2015, following a review by management, £280m of brands and imprints relating to Scientific, Technical & Medical previously determined to have an indefinite useful life were assigned a useful life of 20 years. Indefinite lived intangibles are tested for impairment at least annually. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2017 | |
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Investments | 17 Investments Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Investments held as part of the venture capital portfolio are classified as held for trading, with changes in fair value reported in disposals and other non-operating non-operating Available for sale investments and venture capital investments held for trading represent investments in listed and unlisted securities. The fair value of listed securities is determined based on quoted market prices, and of unlisted securities 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. 2017 2016 Investments in joint ventures 102 102 Available for sale investments 2 2 Venture capital investments held for trading 139 135 Total 243 239 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 9. An analysis of changes in the carrying value of investments in joint ventures is set out below: 2017 2016 At start of year 102 101 Share of results of joint ventures 37 37 Dividends received from joint ventures (38 ) (44 ) Disposals and transfers – (7 ) Additions 2 1 Exchange translation differences (1 ) 14 At end of year 102 102 LOGO Summarised aggregate information in respect of the Group’s share of joint ventures is set out below: RELX Group’s share 2017 2016 Revenue 101 131 Net profit for the year 37 37 Total assets 85 92 Total liabilities (42 ) (49 ) Net assets 43 43 Goodwill 59 59 Total 102 102 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, 2017 | |
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Property, plant and equipment | 18 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. 2017 2016 Land and Fixtures and Total Land and Fixtures and Total Cost At start of year 231 687 918 205 595 800 Acquisitions – – – – 1 1 Capital expenditure 5 48 53 6 48 54 Disposals/reclassified as held for sale (3 ) (40 ) (43 ) (13 ) (52 ) (65 ) Exchange translation differences (17 ) (41 ) (58 ) 33 95 128 At end of year 216 654 870 231 687 918 Accumulated depreciation At start of year 139 537 676 117 454 571 Charge for the year 9 60 69 9 59 68 Disposals/reclassified as held for sale (1 ) (39 ) (40 ) (7 ) (50 ) (57 ) Exchange translation differences (10 ) (34 ) (44 ) 20 74 94 At end of year 137 524 661 139 537 676 Net book amount 79 130 209 92 150 242 No depreciation is provided on freehold land of £14m (2016: £16m). The net book amount of property, plant and equipment at 31 December 2017 includes £16m (2016: £20m) in respect of assets held under finance leases relating to fixtures and equipment. |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2017 | |
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Financial instruments | 19 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 classified as either held for trading or available for sale, as described in note 17. (These investments are typically classified as either Level 2 or 3 in the IFRS 13 fair value hierarchy.) 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. 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 within finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. If a hedged firm commitment or forecasted transaction results in the recognition of a non-financial 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 classified as held for trading and recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of interest rate swaps, interest rate options, forward rate agreements and forward foreign exchange contracts represent the replacement costs calculated using observable market rates of interest and exchange. The fair value of long-term borrowings is calculated by discounting expected future cash flows at observable market rates. (These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy). The main financial risks faced by the Group are liquidity risk, market risk – comprising interest rate risk and foreign exchange risk – and credit risk. Financial instruments are used to finance the Group’s businesses and to manage interest rate and foreign exchange risks. The Group’s businesses do not enter into speculative derivative transactions. Details of financial instruments subject to liquidity, market and credit risks are described below. Liquidity risk The Group maintains a range of borrowing facilities and debt programmes to fund its requirements at competitive rates. The balance of long-term debt, short-term debt and committed bank facilities is managed to provide security of funding, taking into account the cash generation cycle of the business and the uncertain size and timing of acquisition spend. To accommodate the significant free cash flow generated by the Group and to capitalise on an inexpensive source of funding, a meaningful portion of the overall debt portfolio is typically kept short-term as long as there exists acceptable liquidity in the commercial paper markets and sufficient capacity under committed credit lines. The Group’s treasury policies ensure adequate liquidity by requiring that (a) no more than $1.5bn of term debt matures in any 12-month The treasury policies ensure debt efficiency by (a) targeting certain levels of short-term borrowings across a given year, (b) maintaining a weighted average maturity of the gross debt portfolio of approximately five years and (c) minimising surplus cash balances. From time to time, based on cash flow and market conditions, the Group may redeem term debt early or repurchase outstanding debt in the open market. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 19 Financial instruments (continued) Debt is issued to meet the funding requirements of various jurisdictions and in the currencies that are needed. It is recognised that debt can act as a natural translation hedge of earnings, net assets and net cash flow in currencies other than the reporting currency. For this reason, the majority of the Group’s net debt is denominated in US dollars and euros, reflecting the Group’s largest geographical markets. There were no changes to the Group’s long-term approach to capital and liquidity management during the year. The remaining contractual maturities for borrowings and derivative financial instruments are shown in the table below. The table shows undiscounted principal and interest cash flows and includes contractual gross cash flows to be exchanged as part of cross-currency interest rate swaps and forward foreign exchange contracts where there is a legal right of set-off. AT 31 DECEMBER 2017 Contractual cash flow Carrying Within 1-2 years 2-3 years 3-4 years 4-5 years More than Total Borrowings Fixed rate borrowings (4,417 ) (336 ) (706 ) (577 ) (518 ) (805 ) (2,198 ) (5,140 ) Floating rate borrowings (469 ) (464 ) – – – – (5 ) (469 ) Derivative financial liabilities Interest rate derivatives (13 ) (1 ) (1 ) (2 ) (2 ) (4 ) (8 ) (18 ) Cross-currency interest rate swaps (2 ) (258 ) (17 ) (18 ) (18 ) (18 ) (541 ) (870 ) Forward foreign exchange contracts (42 ) (2,148 ) (418 ) (188 ) (41 ) – – (2,795 ) 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 (4,828 ) (809 ) (702 ) (575 ) (529 ) (820 ) (2,198 ) (5,633 ) AT 31 DECEMBER 2016 Contractual cash flow Carrying Within 1 year £m 1-2 years 2-3 years 3-4 years 4-5 More than Total Borrowings Fixed rate borrowings (3,937 ) (479 ) (345 ) (733 ) (555 ) (72 ) (2,617 ) (4,801 ) Floating rate borrowings (906 ) (822 ) (2 ) (82 ) – – (4 ) (910 ) Derivative financial liabilities Interest rate derivatives (14 ) – – (1 ) (2 ) (2 ) (12 ) (17 ) Cross-currency interest rate swaps (37 ) (21 ) (252 ) (18 ) (20 ) (20 ) (618 ) (949 ) Forward foreign exchange contracts (144 ) (1,675 ) (512 ) (215 ) (51 ) – – (2,453 ) Derivative financial assets Interest rate derivatives 35 17 8 8 9 – – 42 Cross-currency interest rate swaps 13 9 234 7 7 7 539 803 Forward foreign exchange contracts 21 1,598 467 205 51 – – 2,321 Total (4,969 ) (1,373 ) (402 ) (829 ) (561 ) (87 ) (2,712 ) (5,964 ) The carrying amount of derivative financial liabilities comprises £15m (2016: £16m) in relation to fair value hedges, £30m (2016: £153m) in relation to cash flow hedges and £12m (2016: £30m) not designated as hedging instruments. The carrying amount of derivative financial assets comprises £20m (2016: £32m) in relation to fair value hedges, £81m (2016: £22m) in relation to cash flow hedges and £14m (2016: £15m) not designated as hedging instruments, less nil of cash collateral received from swap counterparties which has been offset against the related derivative financial assets (2016: £4m of cash collateral paid to swap counterparties which has been offset against the related derivative liabilities) (see ‘Credit risk’ below). The expected cash flows in respect of the cash collateral have been included in the tables above together with the cash flows for the related cross-currency interest rate swaps. 19 Financial instruments (continued) At 31 December 2017, the Group had access to a $2,000m committed bank facility maturing in July 2020, which was undrawn. This facility backs up short-term borrowings. All borrowings that mature within the next two years can be covered by the facility and by utilising available cash resources. The committed bank facility is subject to financial covenants typical to the Group’s size and financial strength. The Group had significant headroom within these covenants for the year ended 31 December 2017. There are no financial covenants in any outstanding public bonds. Market risk The Group’s primary market risks are to 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. Derivatives used by the Group for hedging a particular risk are not specialised and are generally available from numerous sources. The impact of market risks on net post-employment benefit obligations and taxation is excluded from the following market risk sensitivity analysis. Interest rate exposure management The Group’s interest rate exposure management policy aims to minimise interest costs with an acceptable level of year on year volatility. To achieve this, the Group uses fixed rate term debt, interest rate swaps, forward rate agreements and interest rate options. Interest rate derivatives are used only to hedge an underlying risk and no net market positions are held. At 31 December 2017, 44% of gross borrowings were either fixed rate or had been fixed through the use of interest rate swaps, forward rate agreements and options. A 100 basis point reduction in interest rates would result in an estimated decrease in net finance costs of £26m (2016: £25m), based on the composition of financial instruments including cash, cash equivalents, bank loans and commercial paper borrowings at 31 December 2017. A 100 basis point rise in interest rates would result in an estimated increase in net finance costs of £26m (2016: £25m). The impact on net equity of a theoretical change in interest rates as at 31 December 2017 is restricted to the change in carrying value of floating rate to fixed rate interest rate derivatives in a designated cash flow hedge relationship and undesignated interest rate derivatives. A 100 basis point reduction in interest rates would result in an estimated increase in net equity of £2m (2016: £2m) and a 100 basis point increase in interest rates would reduce net equity by an estimated £2m (2016: £2m). The impact of a change in interest rates on the carrying value of fixed rate borrowings in a designated fair value hedge relationship would be offset by the change in carrying value of the related interest rate derivative. Fixed rate borrowings not in a designated hedging relationship are carried at amortised cost. Foreign currency exposure management Translation exposures arise on the earnings and net assets of individual businesses whose operational currencies are other than sterling. Some of these exposures are offset by denominating borrowings in US dollars, euros and other currencies. Currency exposures on transactions denominated in a foreign currency are generally hedged using forward contracts. In addition, recurring transactions and future investment exposures may be hedged, in advance of becoming contractual. The precise policy differs according to the specific circumstances of the individual businesses. Highly predictable future cash flows may be covered for transactions expected to occur during the next 24 months (50 months for the Scientific, Technical & Medical subscription businesses) within limits defined according to the period before the transaction is expected to become contractual. Cover takes the form of foreign exchange forward contracts. As at 31 December 2017, the amount of outstanding foreign exchange cover against future transactions was £1.3bn (2016: £1.5bn). A theoretical weakening of all currencies by 10% against sterling at 31 December 2017 would decrease the carrying value of net assets, excluding net borrowings, by £630m (2016: £658m). This would be offset to a degree by a decrease in net borrowings of £448m (2016: £389m). A strengthening of all currencies by 10% against sterling at 31 December 2017 would increase the carrying value of net assets, excluding net borrowings, by £630m (2016: £658m) and increase net borrowings by £448m (2016: £389m). 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 £148m (2016: £105m). A 10% strengthening of all foreign currencies against sterling on this basis would increase net profit for the year by £148m (2016: £105m). LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 19 Financial instruments (continued) 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 In certain situations, the Group enters into credit support arrangements with derivative counterparties to mitigate the credit exposures arising from hedge gains on the related financial instruments. Under these arrangements, the Group receives (or pays) cash collateral equal to the mark to market valuation of the related derivative asset (or liability) on monthly settlement dates. At 31 December 2017, nil cash collateral had been received, resulting in no payable balance to be offset against the related derivative assets of £2m in the statement of financial position (2016: £4m of cash collateral paid and the resulting receivable balance offset against the related derivative liabilities of £5m). The Group has treasury policies in place which do not allow concentrations of risk with individual counterparties and do not allow significant treasury exposures with counterparties which are rated lower than A-/A3 The Group also has credit risk with respect to trade receivables due from its customers, which include national and state governments, academic institutions and large and small enterprises including law firms, book stores and wholesalers. The concentration of credit risk from trade receivables is limited due to the large and broad customer base. Trade receivable exposures are managed locally in the business units where they arise. Where appropriate, business units seek to minimise this exposure by taking payment in advance and through management of credit terms. Allowance is made for bad and doubtful debts based on management’s assessment of the risk taking into account the ageing profile, experience and circumstance. The maximum exposure to credit risk is represented by the carrying amount of each financial asset, including derivative financial instruments, recorded in the statement of financial position. Included within trade receivables are the following amounts which are past due but for which no allowance has been made: past due up to one month £220m (2016: £187m); past due two to three months £97m (2016: £96m); past due four to six months £44m (2016: £45m); and past due greater than six months £40m (2016: £31m). Examples of trade receivables which are past due but for which no allowance has been made include those receivables where there is no concern over the creditworthiness of the customer and where the history of dealings with the customer indicate the amount will be settled. Hedge accounting The hedging relationships that are 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. Interest rate derivatives (including cross-currency interest rate swaps) with a principal amount of £2,021m (2016: £1,403m) were in place at 31 December 2017 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. 19 Financial instruments (continued) The gains and losses on the borrowings and related derivatives designated as fair value hedges, which are included in the income statement, for the three years ended 31 December 2017, 2016 and 2015 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES 1 January 2017 £m Fair value gain/(loss) £m De- designated £m Exchange gain/(loss) £m 31 December £m USD debt 16 (1 ) (2 ) (1 ) 12 Related interest rate swaps (16 ) 1 2 1 (12 ) – – – – – EUR debt (33 ) 17 – (1 ) (17 ) Related interest rate swaps 32 (16 ) – 1 17 (1 ) 1 – – – Total relating to USD and EUR debt (17 ) 16 (2 ) (2 ) (5 ) Total related interest rate swaps 16 (15 ) 2 2 5 Net (loss)/gain (1 ) 1 – – – GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES 1 January £m Fair value gain/(loss) £m De- designated £m Exchange gain/(loss) £m 31 December £m USD debt 2 13 – 1 16 Related interest rate swaps (2 ) (13 ) – (1 ) (16 ) – – – – – GBP debt (14 ) – 14 – – Related interest rate swaps 14 – (14 ) – – – – – – – EUR debt (9 ) (21 ) – (3 ) (33 ) Related interest rate swaps 8 21 – 3 32 (1 ) – – – (1 ) Total relating to USD, GBP and EUR debt (21 ) (8 ) 14 (2 ) (17 ) Total related interest rate swaps 20 8 (14 ) 2 16 Net loss (1 ) – – – (1 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES 1 January £m Fair value movement £m Exchange gain/(loss) 31 £m USD debt 3 (2 ) 1 2 Related interest rate swaps (3 ) 2 (1 ) (2 ) – – – – GBP debt (20 ) 6 – (14 ) Related interest rate swaps 20 (6 ) – 14 – – – – EUR debt (26 ) 15 2 (9 ) Related interest rate swaps 26 (16 ) (2 ) 8 – (1 ) – (1 ) Total relating to USD, GBP and EUR debt (43 ) 19 3 (21 ) Total related interest rate swaps 43 (20 ) (3 ) 20 Net loss – (1 ) – (1 ) All fair value hedges were highly effective throughout the three years ended 31 December 2017. LOGO Notes to the consolidated financial statements for the year ended 31 December 2017 19 Financial instruments (continued) Gross borrowings as at 31 December 2017 included £24m (2016: £30m) in relation to fair value adjustments to borrowings previously designated in a fair value hedge relationship which were de-designated de-designation Gross borrowings were also reduced by £2m (2016: increased by £6m) in relation to fair value adjustments to borrowings previously designated in a fair value hedging relationship which were de-designated Cash flow hedges The Group enters into two types of cash flow hedge: 1 Debt hedges comprising interest rate derivatives which fix the interest expense on a portion of forecast floating rate debt (including commercial paper, short-term bank loans and floating rate term debt), and cross-currency interest rate derivatives which hedge the cash flow exposure arising from foreign currency denominated debt. 2 Revenue hedges comprising 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. Movements in the hedge reserve in 2016 and 2017, including gains and losses on cash flow hedging instruments, were as follows: Debt Revenue £m Total hedge pre-tax £m Hedge reserve at 1 January 2016: gains/(losses) deferred 6 (44 ) (38 ) Losses arising in 2016 (26 ) (139 ) (165 ) Amounts recognised in income statement 27 19 46 Exchange translation differences 1 (5 ) (4 ) Hedge reserve at 1 January 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 ) All cash flow hedges were highly effective throughout the two years ended 31 December 2017. A deferred tax charge of £1m (2016: credit of £28m; 2015: credit of £8m) in respect of the above gains and losses at 31 December 2017 was also deferred in the hedge reserve. Of the amounts recognised in the income statement in the year, losses of £90m (2016: losses of £19m; 2015: gains of £19m) were recognised in revenue, and gains of £65m (2016: losses of £27m; 2015: losses of £48m) were recognised in finance costs. A tax credit of £1m (2016: £12m; 2015: £1m) was recognised in relation to these items. The deferred gains and losses on cash flow hedges at 31 December 2017 are currently expected to be recognised in the income statement in future years as follows: Debt Revenue £m Total hedge pre-tax £m 2018 3 (18 ) (15 ) 2019 (1 ) – (1 ) 2020 (2 ) 10 8 2021 (2 ) 1 (1 ) 2022 and beyond 7 – 7 Gains/(losses) deferred in hedge reserve at end of year 5 (7 ) (2 ) The cash flows for these hedges are expected to occur in line with the recognition of the gains and losses in the income statement, other than in respect of certain forward foreign exchange hedges on subscriptions, where cash flows may be expected to occur in advance of the subscription year. |
Inventories and pre-publication
Inventories and pre-publication costs | 12 Months Ended |
Dec. 31, 2017 | |
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Inventories and pre-publication costs | 20 Inventories and pre-publication Accounting policy Inventories and pre-publication Pre-publication Annual reviews are carried out to assess the recoverability of carrying amounts. 2017 £m 2016 £m Raw materials 2 2 Pre-publication 157 152 Finished goods 38 55 Total 197 209 |
Trade and other receivables
Trade and other receivables | 12 Months Ended |
Dec. 31, 2017 | |
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Trade and other receivables | 21 Trade and other receivables 2017 £m 2016 £m Trade receivables 1,682 1,782 Allowance for doubtful debts (79 ) (56 ) 1,603 1,726 Prepayments and accrued income 219 230 Total 1,822 1,956 Trade receivables are predominantly non-interest Trade receivables are stated net of a provision for allowances for doubtful debts. The movements in the provision during the year were as follows: 2017 £m 2016 £m At start of year 56 51 Charge for the year 39 4 Trade receivables written off (15 ) (6 ) Exchange translation differences (1 ) 7 At end of year 79 56 |
Trade and other payables
Trade and other payables | 12 Months Ended |
Dec. 31, 2017 | |
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Trade and other payables | 22 Trade and other payables 2017 £m 2016 £m Trade payables 240 297 Accruals 670 650 Social security and other taxes 114 114 Other payables 379 423 Deferred income 1,834 1,941 Total 3,237 3,425 Trade and other payables are predominantly non-interest |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2017 | |
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Borrowings | 23 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. 2017 2016 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 464 – 464 521 – 521 Term debt 209 1,696 1,905 299 2,021 2,320 Finance leases 5 5 10 5 9 14 Term debt in fair value hedging relationships – 2,069 2,069 – 1,399 1,399 Term debt previously in fair value hedging relationships – 438 438 334 255 589 Total 678 4,208 4,886 1,159 3,684 4,843 The total fair value of financial liabilities measured at amortised cost is £2,532m (2016: £3,071m). The total fair value of term debt in fair value hedging relationships is £2,148m (2016: £1,517m). The total fair value of term debt previously in fair value hedging relationships is £501m (2016: £660m). RELX PLC and RELX NV have given joint and several guarantees of certain long-term and short-term borrowings issued by subsidiaries of RELX Group plc. Included within term debt above are debt securities issued by RELX Capital Inc., a 100% indirectly-owned finance subsidiary of RELX PLC and RELX NV, which have been registered with the US Securities and Exchange Commission. RELX PLC and RELX NV have fully and unconditionally guaranteed these securities, which are not guaranteed by any other subsidiary of RELX PLC and RELX NV. Analysis by year of repayment 2017 2016 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Within 1 year 464 209 5 678 521 633 5 1,159 Within 1 to 2 years – 593 3 596 – 219 4 223 Within 2 to 3 years – 508 2 510 – 700 3 703 Within 3 to 4 years – 444 – 444 – 496 2 498 Within 4 to 5 years – 644 – 644 – – – – After 5 years – 2,014 – 2,014 – 2,260 – 2,260 After 1 year – 4,203 5 4,208 – 3,675 9 3,684 Total 464 4,412 10 4,886 521 4,308 14 4,843 Short-term bank loans, overdrafts and commercial paper were backed up at 31 December 2017 by a $2,000m (£1,479m) committed bank facility maturing in July 2020, which was undrawn. Analysis by currency 2017 2016 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m US dollars 103 2,058 10 2,171 13 2,274 14 2,301 £ sterling 262 299 – 561 189 604 – 793 Euro 76 2,055 – 2,131 240 1,430 – 1,670 Other currencies 23 – – 23 79 – – 79 Total 464 4,412 10 4,886 521 4,308 14 4,843 Included in the US dollar amounts for term debt above is £742m (2016: £732m) of debt denominated in euros ( € € |
Lease arrangements
Lease arrangements | 12 Months Ended |
Dec. 31, 2017 | |
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Lease arrangements | 24 Lease arrangements Accounting policy Assets held under leases which confer rights and obligations similar to those attaching to owned assets are classified as assets held under finance leases and capitalised within property, plant and equipment or software and the corresponding liability to pay rentals is shown net of interest in the statement of financial position as obligations under finance leases. The capitalised value of the assets is depreciated on a straight-line basis over the shorter of the periods of the leases or the useful lives of the assets concerned. The interest element of the lease payments is allocated so as to produce a constant periodic rate of charge. Operating lease rentals are charged to the income statement on a straight-line basis over the period of the leases. Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. The Group has exposures to sub-lease sub-lease Finance leases At 31 December 2017, future finance lease obligations fall due as follows: 2017 £m 2016 £m Within one year 5 5 In the second to fifth years inclusive 5 9 10 14 Less: future finance charges – – Total 10 14 Present value of future finance lease obligations payable: Within one year 5 5 In the second to fifth years inclusive 5 9 Total 10 14 The fair value of the lease obligations approximates to their carrying amount. Operating leases At 31 December 2017, outstanding commitments under non-cancellable 2017 £m 2016 £m Within one year 109 114 In the second to fifth years inclusive 287 338 After five years 88 115 Total 484 567 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. Of the above outstanding commitments, £478m (2016: £559m) relate to land and buildings. The Group has a number of properties that are sub-leased. sub-tenants 2017 £m 2016 £m Within one year 21 17 In the second to fifth years inclusive 60 68 After five years 1 – Total 82 85 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2017 | |
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Provisions | 25 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. 2017 £m 2016 £m At start of year 112 121 Utilised (24 ) (24 ) Exchange translation differences (7 ) 15 Total 81 112 Provisions principally relate to leasehold properties, including sub-lease At 31 December 2017, provisions are included within current and non-current 2017 £m 2016 £m Current liabilities 19 23 Non-current 62 89 Total 81 112 |
Share capital, share premium an
Share capital, share premium and shares held in treasury | 12 Months Ended |
Dec. 31, 2017 | |
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Share capital, share premium and shares held in treasury | 26 Share capital, share premium and shares held in treasury Accounting policy Shares of RELX PLC and RELX NV 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 and RELX NV 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. The consolidated share capital of the Group is the aggregate of the RELX PLC and RELX NV individual share capitals. RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2017 No. of shares 2016 At start of year 1,144,122,623 165 1,175,914,837 170 Issue of ordinary shares 2,019,483 – 1,907,786 – Cancellation of shares (22,460,000 ) (3 ) (33,700,000 ) (5 ) At end of year 1,123,682,106 162 1,144,122,623 165 RELX NV CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2017 No. of shares 2016 € At start of year 1,019,893,404 71 1,048,162,690 73 Issue of ordinary shares 2,067,694 – 1,730,714 – Cancellation of shares (22,000,000 ) (1 ) (30,000,000 ) (2 ) At end of year 999,961,098 70 1,019,893,404 71 £m £m At end of year* 62 61 * The RELX NV sterling information has been translated using the exchange rates as disclosed in note 29 to the consolidated financial statements. NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2017 Shares in issue net of treasury shares (millions) 2016 Shares in issue net of treasury shares (millions) RELX PLC At start of period 1,144.1 (63.6 ) 1,080.5 1,106.6 Issue of ordinary shares 2.0 – 2.0 1.9 Repurchase of ordinary shares – (23.1 ) (23.1 ) (29.2 ) Net release of shares by the Employee Benefit Trust – 0.7 0.7 1.2 Cancellation of shares (22.5 ) 22.5 – – At end of year 1,123.6 (63.5 ) 1,060.1 1,080.5 RELX NV At start of period 1,019.9 (57.7 ) 962.2 985.3 Issue of ordinary shares 2.1 – 2.1 1.7 Repurchase of ordinary shares – (21.4 ) (21.4 ) (26.1 ) Net release of shares by the Employee Benefit Trust – 0.7 0.7 1.3 Cancellation of shares (22.0 ) 22.0 – – At end of year 1,000.0 (56.4 ) 943.6 962.2 At end of period - RELX PLC and RELX NV 2,123.6 (119.9 ) 2,003.7 2,042.7 During the year, RELX PLC repurchased 23.1m (2016: 29.2m; 2015: 25.7m) RELX PLC ordinary shares for an average price of 1,604p and RELX NV repurchased 21.4m (2016: 26.1m; 2015: 15.8m) RELX NV ordinary shares for an average price of € The Employee Benefit Trust purchases RELX PLC and RELX NV shares which, at the trustees’ discretion, can be used in respect of the exercise of share options and to meet commitments under conditional share awards. During the year, the Employee Benefit Trust purchased 1.2m RELX PLC shares and 1.3m RELX NV shares for a total cost of £39m (2016: £29m; 2015: £23m). At 31 December 2017, shares held by the Employee Benefit Trust were £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 131. All of the RELX PLC and RELX NV ordinary shares rank equally with respect to voting rights and rights to receive dividends, except for shares held in treasury by the respective parent company, which do not attract voting or dividend rights. There are no restrictions on the rights to transfer shares. At 31 December 2017, RELX PLC shares held in treasury related to 3,493,817 (2016: 4,229,442) RELX PLC ordinary shares held by the Employee Benefit Trust; and 60,077,786 (2016: 59,415,287) RELX PLC ordinary shares held by the parent company. At 31 December 2017, RELX PLC shares held by the Employee Benefit Trust were £39m (2016: £38m) at cost. During December 2017, 22.5m (2016: 33.7m) RELX PLC ordinary shares held in treasury were cancelled. At 31 December 2017, RELX NV shares held in treasury related to 3,775,905 (2016: 4,519,358) RELX NV ordinary shares held by the Employee Benefit Trust; and 52,563,100 (2016: 53,204,378) RELX NV ordinary shares held by the parent company. At 31 December 2017, RELX NV shares held by the Employee Benefit Trust were £43m (2016: £43m) at cost. During December 2017, 22.0m (2016: 30.0m) RELX NV ordinary shares held in treasury were cancelled. On 7 December 2017, RELX PLC and RELX NV announced a non-discretionary non-discretionary |
Other reserves
Other reserves | 12 Months Ended |
Dec. 31, 2017 | |
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Other reserves | 27 Other reserves Hedge reserve 2017 £m Other reserves 2017 £m Total 2017 £m Total 2016 £m At start of year (133 ) (32 ) (165 ) 341 Profit attributable to RELX PLC and RELX NV shareholders – 1,659 1,659 1,161 Dividends paid – (762 ) (762 ) (683 ) Actuarial gains /(losses) on defined benefit pension schemes – 233 233 (262 ) Fair value movements on cash flow hedges 137 – 137 (165 ) Transfer to net profit from cash flow hedge reserve 25 – 25 46 Tax recognised in other comprehensive income (30 ) (59 ) (89 ) 64 Increase in share based remuneration reserve (net of tax) – 42 42 44 Cancellation of shares – (566 ) (566 ) (707 ) Settlement of share awards – (37 ) (37 ) (39 ) Exchange translation differences (2 ) 12 10 35 At end of year (3 ) 490 487 (165 ) Other reserves principally comprise retained earnings and the share based remuneration reserve. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2017 | |
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Related party transactions | 28 Related party transactions Transactions between the RELX PLC, RELX NV, RELX Group plc and subsidairies 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 £16m (2016: £2m; 2015: nil) and the rendering and receiving of goods and services of £0.1m (2016: nil; 2015: £14.0m). As at 31 December 2017, amounts owed by joint ventures were £2m (2016: nil; 2015: £1m) and amounts due to joint ventures were £1m (2016: nil; 2015: £1m). See note 6 for details of the Group’s participation in defined benefit pension schemes. Key management personnel are also related parties as defined by IAS 24 – Related Party Disclosures and comprise the Executive and Non-Executive KEY MANAGEMENT PERSONNEL REMUNERATION 2017 £m 2016 £m 2015 £m Salaries, other short-term employee benefits and non-executive 5 5 5 Post-employment benefits 1 1 1 Share based remuneration* 6 5 5 Total 12 11 11 EXECUTIVE DIRECTORS Salary Benefits Annual Cost of share Cost of Total Total Executive Directors 2017 1,889 101 1,964 5,549 983 10,486 2016 1,843 88 1,881 5,409 1,052 10,273 2015 1,797 92 1,889 5,181 966 9,925 * The share based remuneration charge comprises the multi-year incentive scheme charges in accordance with IFRS 2 – Share Based Payment. These IFRS 2 charges do not reflect the actual value received on vesting. 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 2017 2016 2015 Fees and benefits 1,396 1,364 1,145 The remuneration of non-executive |
Exchange rates
Exchange rates | 12 Months Ended |
Dec. 31, 2017 | |
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Exchange rates | 29 Exchange rates The following exchange rates have been applied in preparing the consolidated financial statements: Income statement Statement of financial position 2017 2016 2015 2017 2016 Euro to sterling 1.14 1.22 1.38 1.12 1.17 US dollars to sterling 1.29 1.36 1.53 1.35 1.23 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2017 | |
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Subsequent events | 30 Subsequent events On 29 January 2018, RELX Group announced that it had entered into a definitive agreement to acquire 100% of the share capital of ThreatMetrix for £580m. The acquisition is subject to customary conditions and regulatory consents and is expected to close during the first half of 2018. This acquisition will be accounted for as a business combination in accordance with IFRS 3. The results and net assets of ThreatMetrix will be consolidated into the RELX Group results from the point of close. The assessment of the fair values of the assets and liabilities acquired will be completed during 2018. |
Approval of financial statement
Approval of financial statements | 12 Months Ended |
Dec. 31, 2017 | |
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Approval of financial statements | 31 Approval of financial statements The consolidated financial statements were approved and authorised for issue by the Boards of Directors of RELX PLC and RELX NV on 14 February 2018. |
Related undertakings
Related undertakings | 12 Months Ended |
Dec. 31, 2017 | |
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Related undertakings | 32 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 First 4 Farming Australia Pty Ltd Ordinary AUS1 Fitness Show Pty Ltd (80%) Ordinary AUS6 LexisNexis Risk Solutions Assets Australia Pty Ltd Ordinary and AUS3 Redeemable Preference LexisNexis Risk Solutions Australia Pty Ltd Ordinary AUS3 LexisNexis Risk Solutions Unit Trust Units AUS3 Reed Exhibitions Australia Pty Ltd Ordinary AUS2 Reed International Books Australia Pty Ltd Ordinary AUS3 Reed Oz Comic-Con Ordinary AUS2 RELX Australia Pty Ltd Ordinary AUS2 Austria Expoxx Messebau GmbH Registered Capital AUT1 LexisNexis Verlag ARD ORAC GmbH & Co KG Registered Capital AUT2 ORAC Gesellschaft m.b.H. Registered Capital AUT2 Reed CEE GmbH Registered Capital AUT1 Reed Messe Salzburg GmbH Registered Capital AUT3 Reed Messe Wien GmbH Registered Capital AUT1 RELX Austria GmbH Registered Capital AUT3 System StandBau GmbH Registered Capital AUT4 Belgium LexisNexis BVBA Ordinary BEL1 First 4 Farming Europe NV Ordinary-A, BEL2 Ordinary-B Brazil Elsevier Editora Ltda Quotas BRA1 Elsevier Participacoes Ltda Quotas BRA1 Fircosoft Brazil Consultoria e Servicos de Informatica Ltda Ordinary BRA2 LexisNexis Informações e Sistemas Empresariais Ltda Quotas shares BRA3 LexisNexis Serviços de Análise de Risco Ltda Quotas shares BRA3 MLex Brasil Midia Mercadologica Ltda Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas shares BRA3 Canada LexisNexis Canada Inc Class A (non-voting), CAN1 Class B (voting) Reed Exhibitions Inc Common CAN2 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 Chile Encyclopédie Médico-Chirurgicale Chile Limitada Ordinary CHL1 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 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 Registered Capital CHN11 Reed Elsevier Information Technology (Beijing) Co., Ltd Registered Capital CHN3 Reed Exhibitions (China) Co., Ltd Registered Capital CHN4 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 Reed Huaqun Exhibitions Co., Ltd (52%) Registered Capital CHN4 Reed Kuozhan Exhibitions (Shanghai) Co., Ltd (60%) Registered Capital CHN12 Reed Sinopharm Exhibitions Co., Ltd (50%) Registered Capital CHN4 RELX (China) Investment Co., Ltd Ordinary CHN15 Shanghai CBI Business Development Co., Ltd Registered Capital CHN16 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 Holding France SAS Registered Capital FRA1 Elsevier Masson SAS Registered Capital FRA1 Evoluprint SAS Ordinary FRA2 Fircosoft SAS Ordinary FRA3 Gie Edi-Data Ordinary FRA4 Gie Juris-Data Ordinary FRA4 GIE PRK - Publicite Robert Krier Registered capital FRA5 LexisNexis Business Information Solutions Ordinary FRA4 LexisNexis Business Information Solutions Holding Ordinary FRA6 LexisNexis International Development Services 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 Ordinary FRA8 Germany Collexis GmbH Registered Capital DEU3 Elsevier GmbH Registered Capital DEU3 Elsevier Information Systems GmbH Registered Capital DEU3 LexisNexis GmbH Registered Capital DEU5 MedCongress GmbH Registered Capital DEU1 REC Publications GmbH Registered Capital DEU1 Reed Exhibitions (Germany) GmbH Registered Capital DEU1 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 Reed Exhibitions Holdings GmbH Registered Capital DEU1 Reed Travel (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 CBI Group Co. Ltd (20%) Ordinary HNK3 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 B I Churchill Living Stone Pvt Ltd Equity shares IND1 Comic Con India Private Ltd (36%) Ordinary IND2 FircoSoft India Private Ltd Ordinary IND3 Harcourt (India) Pvt Ltd Equity shares IND1 Reed Elsevier Publishing (India) Pvt Ltd Ordinary IND4 Reed Manch Exhibitions Private Ltd (70%) Ordinary IND5 Reed SI Exhibitions Private Ltd (51%) Ordinary IND6 Reed Triune Exhibitions Private Ltd (72%) Ordinary IND7 RELX India Private Ltd Ordinary IND1 Indonesia PT Reed Panorama Exhibitions (50%) Ordinary IDN1 Ireland Armanatta Holding Ltd Ordinary IRE1 Butterworth (Ireland) Ltd Ordinary, A Ordinary IRE2 Elsevier Services Ireland Ltd Ordinary IRE4 I.W.P.M. (Holdings) Ltd 6% Cumulative, IRE2 Deferred Ordinary, Ordinary LexisNexis Risk Solutions (Ireland) Ltd Ordinary IRE1 LexisNexis Risk Solutions (Europe) Ltd Ordinary IRE1 Company Name Share Class Reg Office 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 Reed Exhibitions Japan KK Ordinary JPN4 Reed ISG Japan KK Ordinary JPN5 Korea (South) Elsevier Korea LLC Ordinary KOR1 LexisNexis Legal and Professional Service Korea Ltd Ordinary KOR2 Reed Exhibitions Korea Ltd Ordinary KOR3 Reed Exporum Ltd (60%) Ordinary KOR4 Reed K. Fairs Ltd (70%) Ordinary KOR3 Luxembourg FIRCOSOFT Luxembourg Sàrl Ordinary LUX1 Malaysia LexisNexis Malaysia Sdn Bhd Ordinary MYS1 Reed Exhibitions Sdn Bhd Ordinary MYS1 TJ Ventures 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 ICIS Investment Singapore Pte Ltd Ordinary SGP3 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 South Africa Fircosoft South Africa (Pty) Ltd Ordinary ZAF1 Globalrange SA (Pty) Ltd Ordinary ZAF2 Korbitec (Pty) Ltd (90%) Ordinary ZAF3 LegalPerfect Software 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 (“Pexsa”) (90%) Ordinary ZAF3 RELX (Pty) Ltd Ordinary ZAF3 Reed Exhibitions (Pty) Ltd (90%) A-shares ZAF4 Reed Management (Pty) Ltd (90%) A-shares ZAF4 Reed Exhibitions (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 Intellectual Properties SA Ordinary CHE1 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 THA1 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 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 Turkey Elsevier STM Bilgi Hizmetleri Limited Şirketi Ordinary TUR1 Reed Tüyap Fuarcilik A.Ş.(50%) A-shares B-shares TUR2 United Kingdom Accuity Solutions Ltd Ordinary GBR2 Accuity Solutions UK Ltd Ordinary GBR2 Adaptris Group Ltd Ordinary GBR2 Adaptris Ltd Ordinary GBR2 Ascend Holdings Ltd Ordinary GBR2 Ascend Worldwide Group Holdings Ltd Ordinary, GBR2 Ordinary C, Ordinary D, Ordinary-A Ascend Worldwide Ltd Ordinary GBR2 Avenue Exhibitions Ltd non-voting, GBR4 Axxia Systems Ltd Ordinary, GBR1 Ordinary-A Berrows Pension Trustees Ltd Ordinary GBR1 Bluegrill Ltd Ordinary GBR4 Bradfield Brett Holdings Ltd 7 1/2% Preferred GBR1 Income, Ordinary Bradfield, Brett & Company Ltd Ordinary GBR1 Butterworth & Co. (Overseas) Ltd Ordinary GBR1 Butterworth & Co. (Publishers) Ltd 4.5% Cum. GBR1 Preference, ‘A’ Ordinary, ‘B’ Ordinary Butterworths Ltd Ordinary GBR5 Cordery Compliance Ltd (72%) Ordinary GBR5 Cordery Ltd (72%) Ordinary GBR5 Crediva Ltd Ordinary GBR6 DBT Ltd Ordinary GBR2 Dew Events Ltd 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 Everyform Ltd Ordinary A, GBR9 Ordinary B, Ordinary C, Ordinary D Fircosoft Ltd Ordinary GBR2 First 4 Farming Ltd Ordinary GBR2 Formpart (EPL) Ltd Ordinary GBR1 Formpart (EPS) Ltd Ordinary GBR1 Formpart (MDL) Ltd Ordinary GBR1 Formpart (PDL) Ltd Ordinary GBR1 Formpart (SFL) Ltd Ordinary GBR1 Gamermania Ltd Ordinary GBR2 George Philip Holdings Ltd Cumulative GBR1 Preference, Ordinary, Ordinary A, Redeemable Cumulative Preference Company Name Share Class Reg Office United Kingdom cont. Hallplaza Ltd Ordinary GBR4 Imbibe Media Ltd Ordinary GBR4 Indicium Financial Ltd Ordinary GBR10 InferMed Ltd Ordinary GBR8 Information Handling Ltd (85%) Ordinary GBR1 Insurance Initiatives Ltd Ordinary GBR10 Legend Exhibitions Ltd Ordinary-A, GBR4 Ordinary-B LexisNexis Risk Solutions UK Ltd Ordinary GBR11 Marktile Ltd Ordinary GBR1 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 Neptune Collections Ltd Deferred GBR4 Newsflo Ltd Ordinary GBR1 Offshore Europe (Management) Ltd Ordinary GBR4 Offshore Europe Partnership (50%) Partnership Interest GBR4 OPG 1 Ltd Ordinary GBR1 Oxford Spires Management Co; Ltd (55%) Ordinary GBR12 Peopletracer Ltd Ordinary GBR6 Prean Holdings Ltd Deferred, Ordinary GBR1 RE (IDM) Ltd Cumulative GBR2 Redeemable Preference, Ordinary, Ordinary-A RE (SEG) Ltd Ordinary-A, GBR4 Ordinary-B, Preferred Ordinary RE (SEL) Ltd Ordinary GBR4 RE (SOE) Ltd Ordinary GBR4 RE Directors (No.1) Ltd Ordinary GBR1 RE Directors (No.2) Ltd Ordinary GBR1 RE Secretaries Ltd Ordinary GBR1 Reed All-Energy 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 Investment Management Ltd Ordinary GBR1 Reed Elsevier Pension Trustee Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR4 Reed Exhibitions Ltd Deferred, Ordinary GBR4 Reed Healthcare Communications Ltd Ordinary-A GBR2 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) Holdings Ltd Ordinary GBR1 RELX (UK) Ltd Ordinary GBR1 RELX Finance Ltd Ordinary GBR1 RELX Group plc ‘E’ Ordinary, GBR1 Ordinary, ‘R’ Ordinary RELX Overseas Holdings Ltd Ordinary, GBR1 Preference REV Venture Partners Ltd Ordinary GBR1 Rowan Marketing Ltd (50%) Ordinary GBR2 Scripta Technica Ltd ‘A’ Ordinary, ‘B’ GBR1 Ordinary, Cumulative Preference Sharpwise Ltd Ordinary GBR1 The Lancet Ltd Ordinary GBR1 The Medicine Publishing Company Ltd Ordinary GBR1 The Medicine Publishing Group Ltd Ordinary GBR1 The Viscom Group Ltd Ordinary GBR1 Tolley Publishing Company Ltd Ordinary, A Equity GBR1 Tracesmart Group Ltd Ordinary GBR6 Tracesmart Ltd Ordinary GBR6 Wunelli Ltd Ordinary GBR13 United States Accuity Asset Verification Services Inc Common Stock USA1 Accuity Europe Inc Common Stock USA1 Accuity Holdings Inc Common Stock and USA1 Preferred Stock Accuity Inc Common Stock USA1 C.L.U.E. Inc Common Stock USA2 Charles Jones LLC Membership Interest USA2 De Pluimen LLC Membership Interest USA3 Derman, Inc Common Stock USA4 Diio LLC Membership Interest USA5 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, Inc Common Stock USA2 ExitCare LLC Membership Interest USA3 Fire Solutions Inc Common and USA4 Preferred Stock Flightstats, Inc Common Stock USA5 Gaming Business Asia LLC (50%) Membership Interest USA3 Globalrange Corporation Common Stock USA5 Gold Standard, Inc Ordinary shares USA3 Health Market Science, Inc Common Stock USA2 IDG-RBI Membership Interest USA3 Informed Decisions, LLC Membership Interest USA3 Innovata, LLC Membership Interest USA5 Intelligize, Inc Common Stock USA3 Internet-Journals LLC Membership Interest USA3 J.Allan Sheehan Scholarship Fund Inc No Shares USA3 Knovel Corporation Common Stock USA3 Lex Machina Inc Common Stock USA3 LexisNexis Claims Solutions Inc Common Stock USA2 LexisNexis Coplogic Solutions Inc Common Stock USA2 LexisNexis of Puerto Rico Inc Common Stock USA6 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 Bureau LLC Membership Interest USA2 LexisNexis Risk Solutions FL Inc Common Stock USA2 LexisNexis Risk Solutions Inc Common Stock USA2 LexisNexis Special Services Inc Common Stock USA6 LexisNexis VitalChek Network Inc Common Stock USA2 Managed Technology Services LLC (51%) Membership USA9 Interest Matthew Bender & Company, Inc. Common Stock USA3 MLex US, Inc (91%) Common Stock USA3 MWW Clinical Sales Force, Inc. (50%) Common Stock USA3 Nexis, Inc Common Stock USA4 PoliceReports.US, LLC Membership Interest USA2 Portfolio Media, Inc Common Stock USA3 Ravel Law Inc Common Stock USA3 Re (CMDGC) Inc Common Stock USA3 Reed Business Information Inc Common Stock USA5 Reed Technology and Information Services Inc. Common Stock USA3 Reed Westminster Cares Inc No Stock USA 4 RELX Capital Inc Common Stock USA4 RELX Inc Common Stock USA3 RELX US Holdings Inc Common Stock USA3 Reman, Inc Common Stock USA3 REV IV Partnership LP No shares USA4 Ronald G. Segel Memorial Scholarship Fund Inc. No shares USA3 SAFI Americas LLC (50%) Membership Interest USA3 tClara LLC (51%) Membership Interest USA4 The Elsevier Foundation No Shares USA3 The Michie Company Common Stock USA4 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 World Compliance, Inc Common Stock USA4 Venezuela Encyclopédie Médico-Chirurgicale Venezuela C.A. Ordinary VEN1 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 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, 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 BRA2: São Paulo, State of São Paulo, at Rua Bela Cintra, nº 1.200, 8th floor, CEP 01415-002 BRA3: Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, BRA4: Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 Canada CAN1: 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada CAN2: 905 King Street West, 4TH Floor, Toronto, Ontario, Canada M6K 3G9 CAN3: 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 Chile CHL1: Serrano 172, Santiago, Chile 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, CHN4: Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 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: Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China CHN13: World Expo Mansion, 14F, No. 04-05, 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, CHN17: No 498, GouShouJing Road, Building 6 Unit 12502-505, CHN18: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality Colombia COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Denmark DNK1: Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark Registered offices 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 Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt France FRA1: 65, rue Camille Desmoulins, 92130, Issy les 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: Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) FRA7: 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France FRA8: 6-8 Germany DEU1: Völklinger Strasse 4, 40219, Düsseldorf, Germany DEU3: Theodor-Heuss-Allee 108, D-60488, DEU4: Hackerbrücke 6, 80335, Munich, Germany DEU5: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU6: Schwannstr. 6, 40476 Düsseldorf DEU7: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany 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, 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, IND6: B-9, 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 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 (MI) Via Marostica 1 cap 20146 Japan JPN1: Kyodo Tsushin Kaikam 2F, 2-2-5 Minato-ku, 105-0001 JPN2: Ark Mori Building, 1-12-32 Minato-ku, 107-6029, JPN3: 1-9-15, Minato-ku JPN4: Shinjuku-Nomura Bldg., 1-26-2 Shinjuku-ku, JPN5: 13-12 Chiyoda-ku, Registered offices Korea (South) KOR1: Chunwoo Building, 4th floor, 534 Itaewon-dong, Yongsan-gu, 140-861, KOR2: 206 Noksapyeong-daero, Yongsan-gu, KOR3: “Room 4401, Trade Tower, 159-1, Gangnam-gu 135-729, KOR4: 1324 Block A Tera Tower II, 201, Songpa-daero, Songpa-gu, Luxembourg LUX1: Bloc B 19-21, L-8009 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, 6ème étage, Apt 61, Casablanca, Morocco New Zealand NZL1: Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand Philippines PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines Poland POL1: Natpoll Building, ul. Migdalowa 4/59, 02-796, 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 SGP2: 16 Raffles Quay, #33-03 SGP3: 80 Robinson Road, #02-00, SGP4: 1 Changi Business Park Crescent, #06-01 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 ZAF4: Thebe House, 2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa Spain ESP1: C/ Josep Tarradellas 20-30, 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, Registered offices Thailand THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 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 Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Şişli-Maslak, TUR2: Tüyap Fuar ve Kongre Merkezi, E – 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece, Istanbul, 34500, Turkey United Kingdom GBR1: 1-3 GBR2: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom GBR3: AG Gateway Global Network, 85 Great Portland Street, First Floor, London, W1W 7LT, United Kingdom GBR4: Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom GBR5: Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom GBR6: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom GBR7: The Eye, 1 Procter Street, London, WC1V 6EU, 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, EH2 3JZ, 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, PO6 3EN, United Kingdom US 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 Venezuela VEN1: Avenida Banca, Torre BOD, Piso 21, La Castellana, Estado Miranda, Caracas, Venezuela |
Basis of preparation and acco39
Basis of preparation and accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [abstract] | |
Basis of preparation | Basis of preparation RELX PLC and RELX NV are separate, publicly-held entities. RELX PLC’s ordinary shares are listed in London and, through a depositary receipt, in New York, and RELX NV’s ordinary shares are listed in Amsterdam and, through a depositary receipt, in New York. RELX PLC and RELX NV jointly own RELX Group plc, which holds all the Group’s operating businesses and financing activities. RELX PLC, RELX NV, RELX Group plc and its subsidiaries, joint ventures and associates are together known as “the Group”. The Governing Agreement determines the equalisation ratio between RELX PLC and RELX NV shares. One RELX PLC ordinary share confers an equivalent economic interest to one RELX NV ordinary share. As a result of these arrangements, all shareholders can be regarded as having interests in a single economic entity. Consequently, the Directors have concluded that the Group forms a single reporting entity for the presentation of consolidated financial statements. Accordingly, the Group consolidated financial information represents the interests of both sets of shareholders and is presented by both RELX PLC and RELX NV as their respective consolidated financial statements. The Directors of RELX PLC and RELX NV, 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 2017. In preparing the consolidated financial statements, subsidiaries of the Group 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 Non-controlling non-controlling |
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 2016 and 2015. |
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 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 147. |
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 15 and 16; ∎ capitalisation of development spend – note 16; ∎ taxation – note 10; 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 straightforward. This policy is included in note 2. |
Standards and amendments effective for the year | Standards and amendments effective for the year The interpretations and amendments to IFRS effective for 2017 have not had a significant impact on the Group’s accounting policies or reporting. |
Standards, amendments and interpretations not yet effective | Standards, amendments and interpretations not yet effective New accounting standards and amendments and their expected impact on the future accounting policies and reporting of the Group are set out below. IFRS 9 – Financial Instruments (effective for the 2018 financial year). The standard replaces the existing classification and measurement requirements in IAS 39 – Financial Instruments: Recognition and Measurement. Adoption of the standard is not expected to have a significant impact on the measurement, presentation or disclosure of financial assets and liabilities in the consolidated financial statements. The most notable impact for the Group relates to cash flow hedge accounting, which will result in additional disclosure in respect of the costs of hedging reserve balance and movements from 2018 onwards. IFRS 15 – Revenue from Contracts with Customers (effective for the 2018 financial year). The new standard provides a single point of reference for revenue recognition, including guidance in relation to identification of contracts and licensing arrangements. RELX Group will adopt IFRS 15 on a fully retrospective basis. Management have performed a full assessment of the impact of IFRS 15. The adoption of IFRS 15 will not result in a material change to the 2017 income statement reported numbers, and will not result in material differences to the 2018 income statement numbers. IFRS 16 – Leases (early adoption so as to be effective for the 2018 financial year). The new standard 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 Group will adopt this standard a year earlier than the mandatory effective date of 1 January 2019. IFRS 16 will be adopted on a fully retrospective basis. The majority of the RELX Group lease portfolio relates to property leases. Management have performed a full assessment of the impact of IFRS 16. The table below sets out the expected impact on the income statement and the most significantly impacted statement of financial position accounts. 2017 as reported IFRS 9 IFRS 15 IFRS 16 2017 as 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 and RELX NV shareholders 1,635 (2 ) (9 ) (4 ) 1,620 Reported net profit attributable to RELX PLC and RELX NV 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 – – 272 288 Borrowings (including lease liability) (4,886 ) 14 – (381 ) (5,253 ) Finance lease receivable – – – 56 56 Deferred income (1,834 ) – (76 ) – (1,910 ) 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. |
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 125. |
Revenue accounting policy | Revenue represents the value of sales less anticipated returns on transactions completed by performance, excluding customer sales taxes. Revenues are recognised for the various categories as follows: subscriptions – on periodic dispatch of subscribed product or rateably over the period of the subscription where performance is not measurable by despatch; transactional – on despatch or occurrence of the transaction; and advertising – on publication or over the period of online display. Revenue recognition policies, while an area of management focus, are generally straightforward in application as the timing of product or service delivery and customer acceptance for the various revenue types can be readily determined. Allowances for product returns are deducted from revenues based on historical return rates. Where sales consist of two or more components that operate independently, revenue is recognised as each component is completed by performance, based on attribution of relative value. |
Pension accounting policy | Accounting policy The expense of defined benefit pension schemes and other post-retirement employee benefits is determined using the projected unit credit method and charged in the income statement as an operating expense, based on actuarial assumptions reflecting market conditions at the beginning of the financial year. Actuarial gains and losses are recognised in full in the statement of comprehensive income in the period in which they occur. Past service costs and credits are recognised immediately at the earlier of when plan amendments or curtailments occur and when related restructuring costs or termination benefits are recognised. Settlements are recognised when they occur. Net pension obligations in respect of defined benefit schemes are included in the statement of financial position at the present value of scheme liabilities, less the fair value of scheme assets. Where schemes are in surplus, i.e. assets exceed liabilities, the net pension assets are separately included in the statement of financial position. Any net pension asset is limited to the extent that the asset is recoverable. The expense of defined contribution pension schemes and other employee benefits is charged in the income statement as incurred. |
Share based remuneration accounting policy | Accounting policy 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 |
Finance costs accounting policy | Accounting policy Borrowing costs that are directly attributable to the acquisition, construction or production of an asset that takes a substantial period of time to bring to use are capitalised. All other interest on borrowings is expensed as incurred. The cost of issuing borrowings is generally expensed over the period of borrowing so as to produce a constant periodic rate of charge. |
Held for sale and held for trading accounting policy | 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 |
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. Accounting policy (continued) 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 In particular, although we report cross-border transactions undertaken between Group subsidiaries on an arm’s-length Estimation of income taxes also includes assessments of the recoverability of deferred tax assets. Deferred tax assets are only recognised to the extent that they are considered recoverable based on existing tax laws and forecasts of future taxable profits against which the underlying tax deductions can be utilised. The recoverability of these assets is reassessed at the end of each reporting period, and changes in recognition of deferred tax assets will affect the tax liability in the period of that reassessment. |
Earnings per share accounting policy | Accounting policy With effect from 6 April 2016, the UK government abolished tax credits on dividends paid after this date, including the 2015 final dividend, which was paid in May 2016. As a result of the abolition of this credit, dividends and therefore earnings per share are equal for both RELX PLC and RELX NV. 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. In calculating earnings per share of the Group up until the end of 2015 (prior to the abolition of the tax credit), the earnings for each class of share were calculated on the basis that earnings are fully distributed. The Group’s usual practice is for only a portion of earnings to be distributed by way of dividends. Until the end of 2015, dividends paid to RELX PLC and RELX NV shareholders were, other than in special circumstances, equalised at the gross level inclusive of the prevailing UK tax credit available to certain RELX PLC shareholders. The allocation of earnings between the RELX PLC shares and the RELX NV shares reflected the differential in dividend payments declared as a result of the tax credit, with the balance of earnings assumed to be distributed as a capital distribution, in equal amounts per share. Adjusted earnings per share is calculated by dividing adjusted net profit attributable to shareholders by the total weighted average number of shares for the Group. |
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 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 embraces 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 accounting policy | Accounting policy Investments, other than investments in joint arrangements and associates, are stated in the statement of financial position at fair value. Investments held as part of the venture capital portfolio are classified as held for trading, with changes in fair value reported in disposals and other non-operating non-operating Available for sale investments and venture capital investments held for trading represent investments in listed and unlisted securities. The fair value of listed securities is determined based on quoted market prices, and of unlisted securities 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. |
Property, plant and equipment accounting policy | Accounting policy Property, plant and equipment are stated in the statement of financial position at cost less accumulated depreciation. No depreciation is provided on freehold land. Freehold buildings and long leaseholds are depreciated over their estimated useful lives up to a maximum of 50 years. Short leases are written off over the duration of the lease. Depreciation is provided on other assets on a straight-line basis over their estimated useful lives as follows: – land and buildings: land – not depreciated; leasehold improvements – shorter of life of lease and 10 years; – fixtures and equipment: plant – 3 to 20 years; office furniture, fixtures and fittings – 5 to 10 years; computer systems, communication networks and equipment – 3 to 7 years. |
Financial instruments accounting policy | Accounting policy Financial instruments comprise investments (other than investments in joint ventures or associates), trade receivables, cash and cash equivalents, payables and accruals, borrowings and derivative financial instruments. Investments (other than investments in joint ventures and associates) are classified as either held for trading or available for sale, as described in note 17. (These investments are typically classified as either Level 2 or 3 in the IFRS 13 fair value hierarchy.) 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. 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 within finance costs. When the related derivative expires, is sold or terminated, or no longer qualifies for hedge accounting, the cumulative change in fair value of the hedged borrowing is amortised in the income statement over the period to maturity of the borrowing using the effective interest method. Changes in the fair value of derivative financial instruments that are designated and effective as hedges of future cash flows are recognised (net of tax) in other comprehensive income and accumulated in the hedge reserve. If a hedged firm commitment or forecasted transaction results in the recognition of a non-financial 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 classified as held for trading and recorded in the statement of financial position at fair value, with changes in fair value recognised in the income statement. The fair values of interest rate swaps, interest rate options, forward rate agreements and forward foreign exchange contracts represent the replacement costs calculated using observable market rates of interest and exchange. The fair value of long-term borrowings is calculated by discounting expected future cash flows at observable market rates. (These instruments are accordingly classified as Level 2 in the IFRS 13 fair value hierarchy). |
Inventories accounting policy | Accounting policy Inventories and pre-publication Pre-publication |
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. |
Lease arrangements accounting policy | Accounting policy Assets held under leases which confer rights and obligations similar to those attaching to owned assets are classified as assets held under finance leases and capitalised within property, plant and equipment or software and the corresponding liability to pay rentals is shown net of interest in the statement of financial position as obligations under finance leases. The capitalised value of the assets is depreciated on a straight-line basis over the shorter of the periods of the leases or the useful lives of the assets concerned. The interest element of the lease payments is allocated so as to produce a constant periodic rate of charge. Operating lease rentals are charged to the income statement on a straight-line basis over the period of the leases. Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. The Group has exposures to sub-lease sub-lease |
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 and RELX NV 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 and RELX NV 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. The consolidated share capital of the Group is the aggregate of the RELX PLC and RELX NV individual share capitals. |
Basis of preparation and acco40
Basis of preparation and accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Text block1 [abstract] | |
Summary of Expected Impact on the Income Statement and Statement of Financial Position | The table below sets out the expected impact on the income statement and the most significantly impacted statement of financial position accounts. 2017 as reported IFRS 9 IFRS 15 IFRS 16 2017 as 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 and RELX NV shareholders 1,635 (2 ) (9 ) (4 ) 1,620 Reported net profit attributable to RELX PLC and RELX NV 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 – – 272 288 Borrowings (including lease liability) (4,886 ) 14 – (381 ) (5,253 ) Finance lease receivable – – – 56 56 Deferred income (1,834 ) – (76 ) – (1,910 ) |
Segment analysis (Tables)
Segment analysis (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Analysis by Business Segment | ANALYSIS BY BUSINESS SEGMENT Revenue Adjusted operating profit 2017 2016 £m 2015 2017 2016 2015 Scientific, Technical & Medical 2,478 2,320 2,070 913 853 760 Risk & Business Analytics 2,076 1,906 1,601 759 686 575 Legal 1,692 1,622 1,443 332 311 274 Exhibitions 1,109 1,047 857 285 269 217 Sub-total 7,355 6,895 5,971 2,289 2,119 1,826 Unallocated items – – – (5 ) (5 ) (4 ) Total 7,355 6,895 5,971 2,284 2,114 1,822 |
Summary of Analysis of Revenue by Geographical Origin | ANALYSIS OF REVENUE BY GEOGRAPHICAL ORIGIN 2017 2016 2015 North America 4,004 3,693 3,166 United Kingdom 1,083 1,055 996 The Netherlands 855 813 649 Rest of Europe 704 707 614 Rest of world 709 627 546 Total 7,355 6,895 5,971 |
Summary of Analysis of Revenue by Geographical Market | ANALYSIS OF REVENUE BY GEOGRAPHICAL MARKET 2017 2016 2015 North America 4,081 3,778 3,215 United Kingdom 522 504 461 The Netherlands 92 118 117 Rest of Europe 1,081 1,091 958 Rest of world 1,579 1,404 1,220 Total 7,355 6,895 5,971 |
Summary of Analysis of Revenue by Format | ANALYSIS OF REVENUE BY FORMAT 2017 2016 2015 Electronic 5,399 4,954 4,179 Print 834 875 906 Face-to-face 1,122 1,066 886 Total 7,355 6,895 5,971 |
Summary of Analysis of Revenue by Type | ANALYSIS OF REVENUE BY TYPE 2017 2016 2015 Subscriptions 3,808 3,618 3,123 Transactional 3,449 3,163 2,736 Advertising 98 114 112 Total 7,355 6,895 5,971 |
Summary of Analysis by Business Segment Expenditure | ANALYSIS BY BUSINESS SEGMENT Expenditure on Capital expenditure additions Amortisation of acquired Depreciation and other 2017 2016 2015 2017 2016 2015 2017 2016 2015 2017 2016 2015 Scientific, Technical & Medical 94 19 7 97 86 74 77 88 77 81 82 86 Risk & Business Analytics – 288 41 83 67 56 141 147 131 52 45 33 Legal 6 83 96 154 156 161 52 73 56 121 113 95 Exhibitions 33 21 67 23 26 27 44 38 32 18 17 14 Total 133 411 211 357 335 318 314 346 296 272 257 228 |
Summary of Analysis of Non-current Assets by Geographical Location | ANALYSIS OF NON-CURRENT 2017 2016 £m 2015 North America 7,304 8,174 6,824 United Kingdom 978 906 787 The Netherlands 154 135 125 Rest of Europe 746 801 723 Rest of world 429 461 399 Total 9,611 10,477 8,858 |
Summary of Reconciliation of Operating Profit to Adjusted Operating Profit | Operating profit is reconciled to adjusted operating profit as follows: RECONCILIATION OF OPERATING PROFIT TO ADJUSTED OPERATING PROFIT 2017 2016 2015 Operating profit 1,905 1,708 1,497 Adjustments: Amortisation of acquired intangible assets 314 346 296 Acquisition-related costs 56 51 35 Reclassification of tax in joint ventures 10 10 (6 ) Reclassification of finance income in joint ventures (1 ) (1 ) – Adjusted operating profit 2,284 2,114 1,822 |
Operating profit (Tables)
Operating profit (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Disclosure of Detailed Information About Operating Profit | Operating profit is stated after charging/(crediting) the following: Note 2017 2016 2015 Staff costs Wages and salaries 1,926 1,767 1,490 Social security costs 213 198 169 Pensions 6 95 111 58 Share based remuneration 39 38 34 Total staff costs 2,273 2,114 1,751 Depreciation and amortisation Amortisation of acquired intangible assets 16 313 342 292 Share of joint ventures’ amortisation of acquired intangible assets 1 4 4 Amortisation of internally developed intangible assets 16 203 189 157 Depreciation of property, plant and equipment 18 69 68 71 Total depreciation and amortisation 586 603 524 Other expenses and income Cost of sales including pre-publication 2,631 2,488 2,129 Operating lease rentals expense 104 102 90 Operating lease rentals income (3 ) (6 ) (5 ) |
Auditors' remuneration (Tables)
Auditors' remuneration (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Disclosure of Detailed Information About Auditors' Remuneration | 2017 2016 2015 Auditors’ remuneration Payable to the auditors of RELX PLC and RELX NV 0.9 0.9 0.8 Payable to the auditors of the Group’s subsidiaries 5.6 5.3 4.2 Audit services 6.5 6.2 5.0 Audit-related assurance services 0.8 0.6 0.8 Total audit and audit related assurance services 7.3 6.8 5.8 Tax services – 0.4 0.9 Other services: Consulting – 0.1 0.2 Other services: Due diligence and other transaction-related services 0.3 0.4 0.3 Total non-audit 0.3 0.9 1.4 Total auditors’ remuneration 7.6 7.7 7.2 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. Non-audit |
Personnel (Tables)
Personnel (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Disclosure of Detailed Information About Number of People Employed | NUMBER OF PEOPLE EMPLOYED: FULL-TIME EQUIVALENTS At 31 December Average during the year 2017 2016 2015 2017 2016 2015 Business segment Scientific, Technical & Medical 7,500 7,500 7,200 7,500 7,300 7,200 Risk & Business Analytics 8,100 8,200 7,600 8,200 7,900 7,500 Legal 10,600 10,700 10,500 10,700 10,600 10,000 Exhibitions 4,000 4,000 3,800 4,000 3,900 3,700 Sub-total 30,200 30,400 29,100 30,400 29,700 28,400 Corporate/shared functions 800 800 900 800 900 900 Total 31,000 31,200 30,000 31,200 30,600 29,300 Geographical location North America 13,500 13,700 13,400 13,600 13,500 13,400 United Kingdom 5,000 4,900 4,700 5,000 4,800 4,500 The Netherlands 1,300 1,400 1,500 1,400 1,500 1,500 Rest of Europe 2,800 2,800 2,800 2,800 2,800 2,800 Rest of world 8,400 8,400 7,600 8,400 8,000 7,100 Total 31,000 31,200 30,000 31,200 30,600 29,300 |
Pension schemes (Tables)
Pension schemes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Schedule of Defined Benefit and Defined Contribution Schemes | The pension expense, including amounts in relation to the UK, US (for all years) and NL (for 2015 only) defined benefit schemes, and defined contribution schemes in total, recognised within operating profit consists of: 2017 2016 2015 Defined benefit pension expense (net of settlement and past service credits) 4 36 6 Defined contribution pension expense 91 75 52 Total 95 111 58 |
Schedule of Defined Benefit Pension Schemes | The amounts recognised in the income statement in respect of defined benefit pension schemes during the year are presented by major scheme as follows: 2017 2016 2015 UK US Total UK US Total UK US NL Total Service cost 33 14 47 27 14 41 34 18 15 67 Settlement and past service credits (42 ) (1 ) (43 ) – (5 ) (5 ) (1 ) – (60 ) (61) Defined benefit pension expense (9 ) 13 4 27 9 36 33 18 (45 ) 6 Net interest on net defined benefit obligation 10 5 15 9 5 14 14 5 2 21 Net defined benefit pension expense 1 18 19 36 14 50 47 23 (43 ) 27 |
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. 2017 2016 2015 AS AT 31 DECEMBER UK US UK US UK US Discount rate 2.60% 3.55% 2.65% 4.00% 3.85% 4.45% Inflation 3.15% 2.50% 3.25% 2.50% 3.05% 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: Male average life Female average AS AT 31 DECEMBER 2017 UK US UK US Member currently aged 60 years 86 86 88 89 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: 2017 2016 UK £m US £m Total UK £m US £m Total Defined benefit obligation At start of year (3,883 ) (1,120 ) (5,003 ) (3,089 ) (955 ) (4,044 ) Service cost (33 ) (14 ) (47 ) (27 ) (14 ) (41 ) Past service credits 42 1 43 – 5 5 Interest on pension scheme liabilities (101 ) (42 ) (143 ) (117 ) (45 ) (162 ) Actuarial gain/(loss) on financial assumptions 45 (61 ) (16 ) (774 ) (61 ) (835 ) Actuarial (loss)/gain arising from experience assumptions (39 ) 1 (38 ) 22 3 25 Contributions by employees (8 ) – (8 ) (7 ) – (7 ) Benefits paid 123 60 183 109 95 204 Liabilities transferred on settlement* – – – – 36 36 Exchange translation differences – 100 100 – (184 ) (184 ) At end of year (3,854 ) (1,075 ) (4,929 ) (3,883 ) (1,120 ) (5,003 ) Fair value of scheme assets At start of year 3,390 977 4,367 2,838 822 3,660 Interest income on plan assets 91 37 128 108 40 148 Return on assets excluding amounts included in interest income 181 106 287 502 46 548 Contributions by employer 42 43 85 44 41 85 Contributions by employees 8 – 8 7 – 7 Benefits paid (123 ) (60 ) (183 ) (109 ) (95 ) (204 ) Assets transferred on settlement* – – – – (36 ) (36 ) Exchange translation differences – (91 ) (91 ) – 159 159 At end of year 3,589 1,012 4,601 3,390 977 4,367 Opening net deficit (493 ) (143 ) (636 ) (251 ) (133 ) (384 ) Service cost (33 ) (14 ) (47 ) (27 ) (14 ) (41 ) Net interest on net defined benefit obligation (10 ) (5 ) (15 ) (9 ) (5 ) (14 ) Settlement and past service credits 42 1 43 – 5 5 Contributions by employer 42 43 85 44 41 85 Actuarial gains/(losses) 187 46 233 (250 ) (12 ) (262 ) Exchange translation differences – 9 9 – (25 ) (25 ) Overall net pension obligation (265 ) (63 ) (328 ) (493 ) (143 ) (636 ) * In 2016, the settlement relates to an annuity purchase in the US. |
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: 2017 2016 Net pension asset 22 – Net pension obligation (350 ) (636 ) Overall net pension obligation (328 ) (636 ) |
Amounts Recognised in Statement of Comprehensive Income | Amounts recognised in the statement of comprehensive income are set out below: 2017 2016 2015 Gains and losses arising during the year: Experience (losses)/gains on scheme liabilities (38 ) 25 182 Experience gains/(losses) on scheme assets 287 548 (134 ) Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: – discount rates (102 ) (873 ) 96 – inflation 69 (96 ) (64 ) – other actuarial assumptions 17 134 77 233 (262 ) 157 Net cumulative losses at start of year (846 ) (584 ) (741 ) Net cumulative losses at end of year (613 ) (846 ) (584 ) |
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 2017 2016 UK £m US £m Total UK £m US Total Equities 1,252 143 1,395 1,261 330 1,591 Government bonds 1,395 221 1,616 1,390 104 1,494 Corporate bonds – 622 622 – 527 527 Property funds and ground leases 620 – 620 487 – 487 Structured debt and direct lending 253 – 253 162 – 162 Cash and cash equivalents 46 18 64 69 15 84 Other 23 8 31 21 1 22 Total 3,589 1,012 4,601 3,390 977 4,367 |
Sensitivity Analysis of Actuarial Assumptions | 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: 222 Increase/decrease of 0.25% in the expected inflation rate: 134 Increase/decrease of one year in assumed life expectancy: 179 |
Share based remuneration (Table
Share based remuneration (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Number and Weighted Average Fair Value Per Award of Share Granted | In respect of RELX PLC In respect of RELX NV Number of Weighted £ Number of Weighted £ 2017 GRANTS Share options 1,688 1.60 1,647 1.30 Conditional shares 1,637 13.74 1,631 13.33 |
Summary of Main Assumptions Used to Determine Fair Values | The main assumptions used to determine the fair values, which have been established with advice from and data provided by independent actuaries, are set out below: ASSUMPTIONS FOR GRANTS MADE DURING THE YEAR In respect of RELX PLC ordinary shares In respect of RELX NV ordinary shares 2017 2016 2015 2017 2016 2015 Weighted average share price at date of grant – Share options* £15.44 £12.52 £11.44 €17.04 € € – Conditional shares £15.07 £12.68 £11.55 €16.71 € € Expected share price volatility 16% 17% 19% 19% 19% 19% Expected option life 4 years 4 years 4 years 4 years 4 years 4 years Expected dividend yield 3.0% 3.0% 3.5% 3.0% 3.0% 4.2% Risk-free interest rate 0.3% 0.7% 0.8% 0.0% 0.0% 0.0% Expected lapse rate 2-5% 2-5% 2-5% 2-5% 2-4% 2-4% * Weighted average exercise price is disclosed in the table below. |
Summary of Share Based Remuneration Options Outstanding | The share based remuneration options outstanding as at 31 December 2017, in respect of both RELX PLC and RELX NV ordinary shares, are set out below: SHARE OPTIONS In respect of RELX PLC In respect of RELX NV Number of ’000 Weighted Number of ’000 Weighted (€) Outstanding at 1 January 2015 9,327 629 9,468 7.58 Granted 1,911 978 1,827 14.80 Exercised (2,053 ) 627 (1,716 ) 7.32 Forfeited (254 ) 694 (680 ) 7.51 Expired (191 ) 618 (438 ) 6.18 Outstanding at 1 January 2016 8,740 704 8,461 9.27 Granted 1,727 1,164 1,668 15.31 Exercised (1,954 ) 519 (1,778 ) 8.05 Forfeited (424 ) 489 (310 ) 12.41 Expired (147 ) 470 (144 ) 8.56 Outstanding at 1 January 2017 7,942 865 7,897 10.71 Granted 1,688 1,396 1,647 17.06 Exercised (2,130 ) 700 (2,170 ) 9.86 Forfeited (394 ) 1,135 (186 ) 15.54 Expired (140 ) 762 (140 ) 9.20 Outstanding at 31 December 2017 6,966 1,031 7,048 12.36 Exercisable at 31 December 2015 3,105 551 4,886 8.02 Exercisable at 31 December 2016 2,598 598 4,770 8.91 Exercisable at 31 December 2017 2,162 696 4,241 10.14 |
Net finance costs (Tables)
Net finance costs (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Net Finance Costs | 2017 2016 2015 Interest on short-term bank loans, overdrafts and commercial paper (10 ) (15 ) (11 ) Interest on term debt (152 ) (160 ) (141 ) Total borrowing costs (162 ) (175 ) (152 ) Losses on loans and derivatives not designated as hedges (9 ) (14 ) (3 ) Fair value losses on designated fair value hedge relationships – – (1 ) Net financing charge on defined benefit pension schemes (15 ) (14 ) (21 ) Finance costs (186 ) (203 ) (177 ) Interest on bank deposits 3 6 3 Fair value gains on designated fair value hedge relationships 1 – – Gains on loans and derivatives not designated as hedges – 2 – Finance income 4 8 3 Net finance costs (182 ) (195 ) (174 ) |
Disposals and other non-opera48
Disposals and other non-operating items (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Disposals and Other Non-operating Items | 2017 2016 2015 Revaluation of held for trading investments 5 (13 ) 8 Gain/(loss) on disposal of businesses and assets held for sale 6 (27 ) (19 ) Net gain/(loss) on disposals and other non-operating 11 (40 ) (11 ) |
Taxation (Tables)
Taxation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Tax Expense | 2017 2016 2015 Current tax United Kingdom (104 ) (80 ) (65 ) The Netherlands (77 ) (51 ) (45 ) Rest of world (258 ) (243 ) (260 ) Total current tax charge (439 ) (374 ) (370 ) Deferred tax 372 70 72 Tax expense (67 ) (304 ) (298 ) |
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: 2017 2016 2015 £m % £m % £m % Profit before tax 1,734 1,473 1,312 Tax at average applicable rates (392 ) 22.6% (330 ) 22.4% (299 ) 22.8% Tax effect of share of results of joint ventures 7 (0.4)% 7 (0.5)% 11 (0.8)% Expenses not deductible for tax purposes (14 ) 0.7% (18 ) 1.3% (16 ) 1.1% US state taxes (18 ) 1.0% (13 ) 0.9% (9 ) 0.7% Non-deductible (1 ) 0.1% (1 ) 0.1% (3 ) 0.2% Non-deductible (36 ) 2.1% (8 ) 0.5% 4 (0.3)% Tax losses of the period not recognised (10 ) 0.6% (2 ) 0.1% (2 ) 0.2% Recognition and utilisation of tax losses that arose in prior years 16 (0.9)% 32 (2.1)% – 0.0% Other adjustments in respect of prior periods 35 (2.0)% 28 (1.9)% 16 (1.2)% Deferred tax effect of changes in tax rates 346 (19.9)% 1 (0.1)% – 0.0% Tax expense (67 ) 3.9% (304 ) 20.7% (298 ) 22.7% |
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: 2017 2016 2015 £m £m £m Tax on items that will not be reclassified to profit or loss Tax on actuarial movements on defined benefit pension schemes (59 ) 45 (34 ) Tax on items that may be reclassified to profit or loss Tax on fair value movements on cash flow hedges (30 ) 19 18 Net tax (debit)/credit recognised in other comprehensive income (89 ) 64 (16 ) Tax credit on share based remuneration recognised directly in equity 8 10 17 |
Summary of Deferred Tax Liabilities and Assets | 2017 2016 £m £m Deferred tax assets 405 444 Deferred tax liabilities (738 ) (1,137) Total (333 ) (693) |
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 Acquired Other Excess of Tax losses Pensions Other Total Deferred tax (liability)/asset at 1 January 2016 (339 ) (702 ) (291 ) 251 32 103 295 (651 ) Credit/(charge) to profit 9 91 4 (28 ) 26 (1 ) (31 ) 70 Credit to equity/other comprehensive income – – 4 – – 33 17 54 Acquisitions – (38 ) – – 3 – – (35 ) Exchange translation differences (63 ) (118 ) (55 ) 40 9 10 46 (131 ) Deferred tax (liability)/asset at 1 January 2017 (393 ) (767 ) (338 ) 263 70 145 327 (693 ) Credit/(charge) to profit 97 298 2 (15 ) 22 – (32 ) 372 (Charge)/credit to equity/other comprehensive income – – 7 – – (76 ) (20 ) (89 ) Acquisitions – (2 ) – – – – – (2 ) Exchange translation differences 29 45 27 9 (5 ) (3 ) (23 ) 79 Deferred tax (liability)/asset at 31 December 2017 (267 ) (426 ) (302 ) 257 87 66 252 (333 ) |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Earnings Per Share-2017 | EARNINGS PER SHARE – FOR THE YEAR ENDED 31 DECEMBER 2017 2016 Net profit Weighted EPS Net profit Weighted EPS Basic earnings per share for RELX PLC and RELX NV (pence) 1,659 2,019.4 82.2p 1,161 2,062.3 56.3p Diluted earnings per share for RELX PLC and RELX NV (pence) 1,659 2,035.2 81.5p 1,161 2,079.8 55.8p |
Summary of Allocation of Earnings-2015 | ALLOCATION OF EARNINGS – 2015 2015 FOR THE YEAR ENDED 31 DECEMBER £m RELX PLC Allocation of distributed earnings 294 Allocation of undistributed earnings 224 Total net profit allocated to RELX PLC shares 518 RELX NV Allocation of distributed earnings 291 Allocation of undistributed earnings 199 Total net profit allocated to RELX NV shares 490 Total net profit attributable to RELX PLC and RELX NV shareholders 1,008 |
Summary of Earnings Per Share-2017 and 2015 | EARNINGS PER SHARE – 2015 2015 FOR THE YEAR ENDED 31 DECEMBER Weighted EPS Basic earnings per share RELX PLC 1,116.2 46.4p RELX NV 992.4 49.4p Diluted earnings per share RELX PLC 1,125.9 46.0p RELX NV 1,001.6 48.9p |
Summary of Adjusted Earnings Per Share | ADJUSTED EARNINGS PER SHARE 2017 2016 2015 Adjusted net Weighted (millions) Adjusted Adjusted net Weighted Adjusted Adjusted net Weighted Adjusted Adjusted earnings per share for RELX PLC and RELX NV (pence) 1,635 2,019.4 81.0p 1,488 2,062.3 72.2p 1,275 2,108.6 60.5p |
Summary of Reconciliation of Adjusted Net Profit Attributable to Parent | RECONCILIATION OF ADJUSTED NET PROFIT ATTRIBUTABLE TO RELX PLC AND RELX NV SHAREHOLDERS 2017 2016 2015 Net profit attributable to RELX PLC and RELX NV shareholders 1,659 1,161 1,008 Adjustments (post-tax): Amortisation of acquired intangible assets 356 364 311 Acquisition-related costs 43 38 27 Net financing charge on defined benefit pension schemes 11 10 16 Disposals and other non-operating 5 6 (2 ) Other deferred tax credits from intangible assets* (93 ) (91 ) (85 ) Exceptional tax credit (346 ) – – Adjusted net profit attributable to RELX PLC and RELX NV shareholders 1,635 1,488 1,275 * 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, 2017 | |
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Schedule of Reconciliation of Profit Before Tax to Cash Generated from Operations | RECONCILIATION OF PROFIT BEFORE TAX TO CASH GENERATED FROM OPERATIONS 2017 2016 2015 Profit before tax 1,734 1,473 1,312 Disposals and other non-operating (11 ) 40 11 Net finance costs 182 195 174 Operating profit 1,905 1,708 1,497 Share of results of joint ventures (37 ) (37 ) (64 ) Amortisation of acquired intangible assets 313 342 292 Amortisation of internally developed intangible assets 203 189 157 Depreciation of property, plant and equipment 69 68 71 Share based remuneration 39 38 34 Total non-cash 624 637 554 Decrease/(increase) in inventories and pre-publication 2 (24 ) (17 ) Decrease/(increase) in receivables 35 (146 ) (150 ) (Decrease)/increase in payables (84 ) 98 62 Increase in working capital (47 ) (72 ) (105 ) Cash generated from operations 2,445 2,236 1,882 |
Schedule of Cash Flow on Acquisitions | CASH FLOW ON ACQUISITIONS Note 2017 2016 2015 Purchase of businesses 13 (117 ) (336 ) (158 ) Investment in joint ventures (1 ) (1 ) (8 ) Deferred payments relating to prior year acquisitions (13 ) (24 ) (25 ) Total (131 ) (361 ) (191 ) |
Schedule of Reconciliaton of Net Borrowings | RECONCILIATION OF NET BORROWINGS Cash and Borrowings Related 2017 2016 2015 At start of year 162 (4,843 ) (19 ) (4,700 ) (3,782 ) (3,550 ) (Decrease)/increase in cash and cash equivalents (45 ) – – (45 ) 9 (139 ) Decrease/(increase) in short-term bank loans, overdrafts and commercial paper – 152 (4 ) 148 (271 ) 339 Issuance of term debt – (873 ) – (873 ) (603 ) (500 ) Repayment of term debt – 712 – 712 474 186 Repayment of finance leases – 5 – 5 7 9 Change in net borrowings resulting from cash flows (45 ) (4 ) (4 ) (53 ) (384 ) (105 ) Inception of finance leases – (2 ) – (2 ) (3 ) (12 ) Fair value and other adjustments to borrowings and related derivatives – (73 ) 64 (9 ) (22 ) 4 Exchange translation differences (6 ) 36 2 32 (509 ) (119 ) At end of year 111 (4,886 ) 43 (4,732 ) (4,700 ) (3,782 ) |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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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 Fair value Fair value 2017 £m 2016 £m 2015 £m Goodwill 77 222 100 Intangible assets 56 189 111 Property, plant and equipment – 1 – Current assets 3 12 9 Current liabilities (16 ) (20 ) (23) Deferred tax (2 ) (35 ) (19) Net assets acquired 118 369 178 Consideration (after taking account of £7m (2016: £10m; 2015: £3m) net cash acquired) 118 369 178 Less: consideration deferred to future years (1 ) (15 ) (20) Less: acquisition date fair value of equity interest – (18 ) – Net cash flow 117 336 158 |
Equity dividends (Tables)
Equity dividends (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Ordinary Dividends Paid | Fair value Fair value Fair value 2017 £m 2016 £m 2015 £m Goodwill 77 222 100 Intangible assets 56 189 111 Property, plant and equipment – 1 – Current assets 3 12 9 Current liabilities (16 ) (20 ) (23) Deferred tax (2 ) (35 ) (19) Net assets acquired 118 369 178 Consideration (after taking account of £7m (2016: £10m; 2015: £3m) net cash acquired) 118 369 178 Less: consideration deferred to future years (1 ) (15 ) (20) Less: acquisition date fair value of equity interest – (18 ) – Net cash flow 117 336 158 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 2017 contributed £12m to revenue, increased adjusted operating profit by £2m, decreased net profit by £6m and contributed nil to net cash inflow from operating activities for the part year under the Group’s ownership and before taking account of acquisition financing costs. Had the businesses been acquired at the beginning of the year, on a pro forma basis the Group revenues, adjusted operating profit and net profit attributable to RELX PLC and RELX NV shareholders for the year would have been £7,368m, £2,288m and £1,662m respectively, before taking account of acquisition financing costs. 14 Equity dividends ORDINARY DIVIDENDS PAID IN THE YEAR 2017 2016 2015 £m £m £m RELX PLC 400 356 295 RELX NV 362 327 288 Total 762 683 583 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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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 2017 2016 Pre-tax Nominal long-term Pre-tax Nominal long-term Scientific, Technical & Medical 10.1% 3% 10.0% 3% Risk & Business Analytics 12.3% 3% 11.7% 3% Legal 12.7% 2% 12.4% 2% Exhibitions 12.6% 3% 12.6% 3% |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Intangible Assets | Market and £m Content, Total Internally £m Total Cost At 1 January 2016 3,158 3,133 6,291 2,053 8,344 Acquisitions 103 86 189 – 189 Additions – – – 280 280 Disposals/reclassified as held for sale – – – (100 ) (100 ) Exchange translation differences 611 460 1,071 317 1,388 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 31 December 2017 3,519 3,492 7,011 2,691 9,702 Accumulated amortisation At 1 January 2016 1,402 2,611 4,013 1,175 5,188 Charge for the year 204 138 342 189 531 Disposals/reclassified as held for sale – – – (96 ) (96 ) Exchange translation differences 287 390 677 197 874 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 31 December 2017 1,907 3,046 4,953 1,555 6,508 Net book amount At 31 December 2016 1,979 540 2,519 1,085 3,604 At 31 December 2017 1,612 446 2,058 1,136 3,194 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Investments | 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. 2017 2016 Investments in joint ventures 102 102 Available for sale investments 2 2 Venture capital investments held for trading 139 135 Total 243 239 |
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: 2017 2016 At start of year 102 101 Share of results of joint ventures 37 37 Dividends received from joint ventures (38 ) (44 ) Disposals and transfers – (7 ) Additions 2 1 Exchange translation differences (1 ) 14 At end of year 102 102 |
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 Group’s share 2017 2016 Revenue 101 131 Net profit for the year 37 37 Total assets 85 92 Total liabilities (42 ) (49 ) Net assets 43 43 Goodwill 59 59 Total 102 102 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Property, Plant and Equipment | 2017 2016 Land and Fixtures and Total Land and Fixtures and Total Cost At start of year 231 687 918 205 595 800 Acquisitions – – – – 1 1 Capital expenditure 5 48 53 6 48 54 Disposals/reclassified as held for sale (3 ) (40 ) (43 ) (13 ) (52 ) (65 ) Exchange translation differences (17 ) (41 ) (58 ) 33 95 128 At end of year 216 654 870 231 687 918 Accumulated depreciation At start of year 139 537 676 117 454 571 Charge for the year 9 60 69 9 59 68 Disposals/reclassified as held for sale (1 ) (39 ) (40 ) (7 ) (50 ) (57 ) Exchange translation differences (10 ) (34 ) (44 ) 20 74 94 At end of year 137 524 661 139 537 676 Net book amount 79 130 209 92 150 242 |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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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 2017 Contractual cash flow Carrying Within 1-2 years 2-3 years 3-4 years 4-5 years More than Total Borrowings Fixed rate borrowings (4,417 ) (336 ) (706 ) (577 ) (518 ) (805 ) (2,198 ) (5,140 ) Floating rate borrowings (469 ) (464 ) – – – – (5 ) (469 ) Derivative financial liabilities Interest rate derivatives (13 ) (1 ) (1 ) (2 ) (2 ) (4 ) (8 ) (18 ) Cross-currency interest rate swaps (2 ) (258 ) (17 ) (18 ) (18 ) (18 ) (541 ) (870 ) Forward foreign exchange contracts (42 ) (2,148 ) (418 ) (188 ) (41 ) – – (2,795 ) 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 (4,828 ) (809 ) (702 ) (575 ) (529 ) (820 ) (2,198 ) (5,633 ) AT 31 DECEMBER 2016 Contractual cash flow Carrying Within 1 year £m 1-2 years 2-3 years 3-4 years 4-5 More than Total Borrowings Fixed rate borrowings (3,937 ) (479 ) (345 ) (733 ) (555 ) (72 ) (2,617 ) (4,801 ) Floating rate borrowings (906 ) (822 ) (2 ) (82 ) – – (4 ) (910 ) Derivative financial liabilities Interest rate derivatives (14 ) – – (1 ) (2 ) (2 ) (12 ) (17 ) Cross-currency interest rate swaps (37 ) (21 ) (252 ) (18 ) (20 ) (20 ) (618 ) (949 ) Forward foreign exchange contracts (144 ) (1,675 ) (512 ) (215 ) (51 ) – – (2,453 ) Derivative financial assets Interest rate derivatives 35 17 8 8 9 – – 42 Cross-currency interest rate swaps 13 9 234 7 7 7 539 803 Forward foreign exchange contracts 21 1,598 467 205 51 – – 2,321 Total (4,969 ) (1,373 ) (402 ) (829 ) (561 ) (87 ) (2,712 ) (5,964 ) |
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, for the three years ended 31 December 2017, 2016 and 2015 were as follows: GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES 1 January 2017 £m Fair value gain/(loss) £m De- designated £m Exchange gain/(loss) £m 31 December £m USD debt 16 (1 ) (2 ) (1 ) 12 Related interest rate swaps (16 ) 1 2 1 (12 ) – – – – – EUR debt (33 ) 17 – (1 ) (17 ) Related interest rate swaps 32 (16 ) – 1 17 (1 ) 1 – – – Total relating to USD and EUR debt (17 ) 16 (2 ) (2 ) (5 ) Total related interest rate swaps 16 (15 ) 2 2 5 Net (loss)/gain (1 ) 1 – – – GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES 1 January £m Fair value gain/(loss) £m De- designated £m Exchange gain/(loss) £m 31 December £m USD debt 2 13 – 1 16 Related interest rate swaps (2 ) (13 ) – (1 ) (16 ) – – – – – GBP debt (14 ) – 14 – – Related interest rate swaps 14 – (14 ) – – – – – – – EUR debt (9 ) (21 ) – (3 ) (33 ) Related interest rate swaps 8 21 – 3 32 (1 ) – – – (1 ) Total relating to USD, GBP and EUR debt (21 ) (8 ) 14 (2 ) (17 ) Total related interest rate swaps 20 8 (14 ) 2 16 Net loss (1 ) – – – (1 ) GAINS/(LOSSES) ON BORROWINGS AND RELATED DERIVATIVES 1 January £m Fair value movement £m Exchange gain/(loss) 31 £m USD debt 3 (2 ) 1 2 Related interest rate swaps (3 ) 2 (1 ) (2 ) – – – – GBP debt (20 ) 6 – (14 ) Related interest rate swaps 20 (6 ) – 14 – – – – EUR debt (26 ) 15 2 (9 ) Related interest rate swaps 26 (16 ) (2 ) 8 – (1 ) – (1 ) Total relating to USD, GBP and EUR debt (43 ) 19 3 (21 ) Total related interest rate swaps 43 (20 ) (3 ) 20 Net loss – (1 ) – (1 ) |
Summary of Movements in the Hedge Reserve Including Gains and Losses on Cash Flow Hedging Instruments | Movements in the hedge reserve in 2016 and 2017, including gains and losses on cash flow hedging instruments, were as follows: Debt Revenue £m Total hedge pre-tax £m Hedge reserve at 1 January 2016: gains/(losses) deferred 6 (44 ) (38 ) Losses arising in 2016 (26 ) (139 ) (165 ) Amounts recognised in income statement 27 19 46 Exchange translation differences 1 (5 ) (4 ) Hedge reserve at 1 January 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 ) |
Summary of Deferred Gains and Losses on Cash Flow Hedges Currently Expected to Recognised in Future Period | The deferred gains and losses on cash flow hedges at 31 December 2017 are currently expected to be recognised in the income statement in future years as follows: Debt Revenue £m Total hedge pre-tax £m 2018 3 (18 ) (15 ) 2019 (1 ) – (1 ) 2020 (2 ) 10 8 2021 (2 ) 1 (1 ) 2022 and beyond 7 – 7 Gains/(losses) deferred in hedge reserve at end of year 5 (7 ) (2 ) |
Inventories and pre-publicati59
Inventories and pre-publication costs (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Inventories and Pre-Publication Costs | 2017 £m 2016 £m Raw materials 2 2 Pre-publication 157 152 Finished goods 38 55 Total 197 209 |
Trade and other receivables (Ta
Trade and other receivables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Trade and Other Receivables | 2017 £m 2016 £m Trade receivables 1,682 1,782 Allowance for doubtful debts (79 ) (56 ) 1,603 1,726 Prepayments and accrued income 219 230 Total 1,822 1,956 |
Summary of Movements in Provision for Allowances for Doubtful Debts | 2017 £m 2016 £m At start of year 56 51 Charge for the year 39 4 Trade receivables written off (15 ) (6 ) Exchange translation differences (1 ) 7 At end of year 79 56 |
Trade and other payables (Table
Trade and other payables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Trade and Other Payables | 2017 £m 2016 £m Trade payables 240 297 Accruals 670 650 Social security and other taxes 114 114 Other payables 379 423 Deferred income 1,834 1,941 Total 3,237 3,425 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of types of Borrowings both Current and Non-current | 2017 2016 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 464 – 464 521 – 521 Term debt 209 1,696 1,905 299 2,021 2,320 Finance leases 5 5 10 5 9 14 Term debt in fair value hedging relationships – 2,069 2,069 – 1,399 1,399 Term debt previously in fair value hedging relationships – 438 438 334 255 589 Total 678 4,208 4,886 1,159 3,684 4,843 |
Summary of Repayment Years for Borrowings | Analysis by year of repayment 2017 2016 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Within 1 year 464 209 5 678 521 633 5 1,159 Within 1 to 2 years – 593 3 596 – 219 4 223 Within 2 to 3 years – 508 2 510 – 700 3 703 Within 3 to 4 years – 444 – 444 – 496 2 498 Within 4 to 5 years – 644 – 644 – – – – After 5 years – 2,014 – 2,014 – 2,260 – 2,260 After 1 year – 4,203 5 4,208 – 3,675 9 3,684 Total 464 4,412 10 4,886 521 4,308 14 4,843 |
Analysis of Borrowings by Currency | Analysis by currency 2017 2016 Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m Short-term bank loans, overdrafts and commercial paper £m Term debt £m Finance leases £m Total £m US dollars 103 2,058 10 2,171 13 2,274 14 2,301 £ sterling 262 299 – 561 189 604 – 793 Euro 76 2,055 – 2,131 240 1,430 – 1,670 Other currencies 23 – – 23 79 – – 79 Total 464 4,412 10 4,886 521 4,308 14 4,843 |
Lease arrangements (Tables)
Lease arrangements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Future Finance Lease Obligations | At 31 December 2017, future finance lease obligations fall due as follows: 2017 £m 2016 £m Within one year 5 5 In the second to fifth years inclusive 5 9 10 14 Less: future finance charges – – Total 10 14 Present value of future finance lease obligations payable: Within one year 5 5 In the second to fifth years inclusive 5 9 Total 10 14 |
Summary of Outstanding Commitments Under Non-cancellable Operating Leases | At 31 December 2017, outstanding commitments under non-cancellable 2017 £m 2016 £m Within one year 109 114 In the second to fifth years inclusive 287 338 After five years 88 115 Total 484 567 |
Summary of Future Lease Receivables Contracted With Sub-tenants | The future lease receivables contracted with sub-tenants 2017 £m 2016 £m Within one year 21 17 In the second to fifth years inclusive 60 68 After five years 1 – Total 82 85 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Changes in Provisions | 2017 £m 2016 £m At start of year 112 121 Utilised (24 ) (24 ) Exchange translation differences (7 ) 15 Total 81 112 |
Summary of Provisions Included Within Current and Non-current Liabilities | At 31 December 2017, provisions are included within current and non-current 2017 £m 2016 £m Current liabilities 19 23 Non-current 62 89 Total 81 112 |
Share capital, share premium 65
Share capital, share premium and shares held in treasury (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Share Capital | RELX PLC CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2017 No. of shares 2016 At start of year 1,144,122,623 165 1,175,914,837 170 Issue of ordinary shares 2,019,483 – 1,907,786 – Cancellation of shares (22,460,000 ) (3 ) (33,700,000 ) (5 ) At end of year 1,123,682,106 162 1,144,122,623 165 RELX NV CALLED UP SHARE CAPITAL – ISSUED AND FULLY PAID No. of shares 2017 No. of shares 2016 € At start of year 1,019,893,404 71 1,048,162,690 73 Issue of ordinary shares 2,067,694 – 1,730,714 – Cancellation of shares (22,000,000 ) (1 ) (30,000,000 ) (2 ) At end of year 999,961,098 70 1,019,893,404 71 £m £m At end of year* 62 61 * The RELX NV sterling information has been translated using the exchange rates as disclosed in note 29 to the consolidated financial statements. NUMBER OF ORDINARY SHARES Year ended 31 December Shares in issue (millions) Treasury shares (millions) 2017 Shares in issue net of treasury shares (millions) 2016 Shares in issue net of treasury shares (millions) RELX PLC At start of period 1,144.1 (63.6 ) 1,080.5 1,106.6 Issue of ordinary shares 2.0 – 2.0 1.9 Repurchase of ordinary shares – (23.1 ) (23.1 ) (29.2 ) Net release of shares by the Employee Benefit Trust – 0.7 0.7 1.2 Cancellation of shares (22.5 ) 22.5 – – At end of year 1,123.6 (63.5 ) 1,060.1 1,080.5 RELX NV At start of period 1,019.9 (57.7 ) 962.2 985.3 Issue of ordinary shares 2.1 – 2.1 1.7 Repurchase of ordinary shares – (21.4 ) (21.4 ) (26.1 ) Net release of shares by the Employee Benefit Trust – 0.7 0.7 1.3 Cancellation of shares (22.0 ) 22.0 – – At end of year 1,000.0 (56.4 ) 943.6 962.2 At end of period - RELX PLC and RELX NV 2,123.6 (119.9 ) 2,003.7 2,042.7 |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Other Reserves | Hedge reserve 2017 £m Other reserves 2017 £m Total 2017 £m Total 2016 £m At start of year (133 ) (32 ) (165 ) 341 Profit attributable to RELX PLC and RELX NV shareholders – 1,659 1,659 1,161 Dividends paid – (762 ) (762 ) (683 ) Actuarial gains /(losses) on defined benefit pension schemes – 233 233 (262 ) Fair value movements on cash flow hedges 137 – 137 (165 ) Transfer to net profit from cash flow hedge reserve 25 – 25 46 Tax recognised in other comprehensive income (30 ) (59 ) (89 ) 64 Increase in share based remuneration reserve (net of tax) – 42 42 44 Cancellation of shares – (566 ) (566 ) (707 ) Settlement of share awards – (37 ) (37 ) (39 ) Exchange translation differences (2 ) 12 10 35 At end of year (3 ) 490 487 (165 ) |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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Summary of Key Management Personnel Remuneration | KEY MANAGEMENT PERSONNEL REMUNERATION 2017 £m 2016 £m 2015 £m Salaries, other short-term employee benefits and non-executive 5 5 5 Post-employment benefits 1 1 1 Share based remuneration* 6 5 5 Total 12 11 11 |
Summary of Executive Directors Remuneration | EXECUTIVE DIRECTORS Salary Benefits Annual Cost of share Cost of Total Total Executive Directors 2017 1,889 101 1,964 5,549 983 10,486 2016 1,843 88 1,881 5,409 1,052 10,273 2015 1,797 92 1,889 5,181 966 9,925 |
Summary of Non-Excecutive Directors Remuneration | NON-EXECUTIVE 2017 2016 2015 Fees and benefits 1,396 1,364 1,145 |
Exchange rates (Tables)
Exchange rates (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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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 2017 2016 2015 2017 2016 Euro to sterling 1.14 1.22 1.38 1.12 1.17 US dollars to sterling 1.29 1.36 1.53 1.35 1.23 |
Related undertakings (Tables)
Related undertakings (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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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 First 4 Farming Australia Pty Ltd Ordinary AUS1 Fitness Show Pty Ltd (80%) Ordinary AUS6 LexisNexis Risk Solutions Assets Australia Pty Ltd Ordinary and AUS3 Redeemable Preference LexisNexis Risk Solutions Australia Pty Ltd Ordinary AUS3 LexisNexis Risk Solutions Unit Trust Units AUS3 Reed Exhibitions Australia Pty Ltd Ordinary AUS2 Reed International Books Australia Pty Ltd Ordinary AUS3 Reed Oz Comic-Con Ordinary AUS2 RELX Australia Pty Ltd Ordinary AUS2 Austria Expoxx Messebau GmbH Registered Capital AUT1 LexisNexis Verlag ARD ORAC GmbH & Co KG Registered Capital AUT2 ORAC Gesellschaft m.b.H. Registered Capital AUT2 Reed CEE GmbH Registered Capital AUT1 Reed Messe Salzburg GmbH Registered Capital AUT3 Reed Messe Wien GmbH Registered Capital AUT1 RELX Austria GmbH Registered Capital AUT3 System StandBau GmbH Registered Capital AUT4 Belgium LexisNexis BVBA Ordinary BEL1 First 4 Farming Europe NV Ordinary-A, BEL2 Ordinary-B Brazil Elsevier Editora Ltda Quotas BRA1 Elsevier Participacoes Ltda Quotas BRA1 Fircosoft Brazil Consultoria e Servicos de Informatica Ltda Ordinary BRA2 LexisNexis Informações e Sistemas Empresariais Ltda Quotas shares BRA3 LexisNexis Serviços de Análise de Risco Ltda Quotas shares BRA3 MLex Brasil Midia Mercadologica Ltda Quotas BRA4 Reed Exhibitions Alcântara Machado Ltda Quotas shares BRA3 Canada LexisNexis Canada Inc Class A (non-voting), CAN1 Class B (voting) Reed Exhibitions Inc Common CAN2 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 Chile Encyclopédie Médico-Chirurgicale Chile Limitada Ordinary CHL1 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 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 Registered Capital CHN11 Reed Elsevier Information Technology (Beijing) Co., Ltd Registered Capital CHN3 Reed Exhibitions (China) Co., Ltd Registered Capital CHN4 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 Reed Huaqun Exhibitions Co., Ltd (52%) Registered Capital CHN4 Reed Kuozhan Exhibitions (Shanghai) Co., Ltd (60%) Registered Capital CHN12 Reed Sinopharm Exhibitions Co., Ltd (50%) Registered Capital CHN4 RELX (China) Investment Co., Ltd Ordinary CHN15 Shanghai CBI Business Development Co., Ltd Registered Capital CHN16 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 Holding France SAS Registered Capital FRA1 Elsevier Masson SAS Registered Capital FRA1 Evoluprint SAS Ordinary FRA2 Fircosoft SAS Ordinary FRA3 Gie Edi-Data Ordinary FRA4 Gie Juris-Data Ordinary FRA4 GIE PRK - Publicite Robert Krier Registered capital FRA5 LexisNexis Business Information Solutions Ordinary FRA4 LexisNexis Business Information Solutions Holding Ordinary FRA6 LexisNexis International Development Services 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 Ordinary FRA8 Germany Collexis GmbH Registered Capital DEU3 Elsevier GmbH Registered Capital DEU3 Elsevier Information Systems GmbH Registered Capital DEU3 LexisNexis GmbH Registered Capital DEU5 MedCongress GmbH Registered Capital DEU1 REC Publications GmbH Registered Capital DEU1 Reed Exhibitions (Germany) GmbH Registered Capital DEU1 Reed Exhibitions Deutschland GmbH Registered Capital DEU1 Reed Exhibitions Holdings GmbH Registered Capital DEU1 Reed Travel (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 CBI Group Co. Ltd (20%) Ordinary HNK3 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 B I Churchill Living Stone Pvt Ltd Equity shares IND1 Comic Con India Private Ltd (36%) Ordinary IND2 FircoSoft India Private Ltd Ordinary IND3 Harcourt (India) Pvt Ltd Equity shares IND1 Reed Elsevier Publishing (India) Pvt Ltd Ordinary IND4 Reed Manch Exhibitions Private Ltd (70%) Ordinary IND5 Reed SI Exhibitions Private Ltd (51%) Ordinary IND6 Reed Triune Exhibitions Private Ltd (72%) Ordinary IND7 RELX India Private Ltd Ordinary IND1 Indonesia PT Reed Panorama Exhibitions (50%) Ordinary IDN1 Ireland Armanatta Holding Ltd Ordinary IRE1 Butterworth (Ireland) Ltd Ordinary, A Ordinary IRE2 Elsevier Services Ireland Ltd Ordinary IRE4 I.W.P.M. (Holdings) Ltd 6% Cumulative, IRE2 Deferred Ordinary, Ordinary LexisNexis Risk Solutions (Ireland) Ltd Ordinary IRE1 LexisNexis Risk Solutions (Europe) Ltd Ordinary IRE1 Company Name Share Class Reg Office 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 Reed Exhibitions Japan KK Ordinary JPN4 Reed ISG Japan KK Ordinary JPN5 Korea (South) Elsevier Korea LLC Ordinary KOR1 LexisNexis Legal and Professional Service Korea Ltd Ordinary KOR2 Reed Exhibitions Korea Ltd Ordinary KOR3 Reed Exporum Ltd (60%) Ordinary KOR4 Reed K. Fairs Ltd (70%) Ordinary KOR3 Luxembourg FIRCOSOFT Luxembourg Sàrl Ordinary LUX1 Malaysia LexisNexis Malaysia Sdn Bhd Ordinary MYS1 Reed Exhibitions Sdn Bhd Ordinary MYS1 TJ Ventures 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 ICIS Investment Singapore Pte Ltd Ordinary SGP3 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 South Africa Fircosoft South Africa (Pty) Ltd Ordinary ZAF1 Globalrange SA (Pty) Ltd Ordinary ZAF2 Korbitec (Pty) Ltd (90%) Ordinary ZAF3 LegalPerfect Software 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 (“Pexsa”) (90%) Ordinary ZAF3 RELX (Pty) Ltd Ordinary ZAF3 Reed Exhibitions (Pty) Ltd (90%) A-shares ZAF4 Reed Management (Pty) Ltd (90%) A-shares ZAF4 Reed Exhibitions (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 Intellectual Properties SA Ordinary CHE1 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 THA1 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 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 Turkey Elsevier STM Bilgi Hizmetleri Limited Şirketi Ordinary TUR1 Reed Tüyap Fuarcilik A.Ş.(50%) A-shares B-shares TUR2 United Kingdom Accuity Solutions Ltd Ordinary GBR2 Accuity Solutions UK Ltd Ordinary GBR2 Adaptris Group Ltd Ordinary GBR2 Adaptris Ltd Ordinary GBR2 Ascend Holdings Ltd Ordinary GBR2 Ascend Worldwide Group Holdings Ltd Ordinary, GBR2 Ordinary C, Ordinary D, Ordinary-A Ascend Worldwide Ltd Ordinary GBR2 Avenue Exhibitions Ltd non-voting, GBR4 Axxia Systems Ltd Ordinary, GBR1 Ordinary-A Berrows Pension Trustees Ltd Ordinary GBR1 Bluegrill Ltd Ordinary GBR4 Bradfield Brett Holdings Ltd 7 1/2% Preferred GBR1 Income, Ordinary Bradfield, Brett & Company Ltd Ordinary GBR1 Butterworth & Co. (Overseas) Ltd Ordinary GBR1 Butterworth & Co. (Publishers) Ltd 4.5% Cum. GBR1 Preference, ‘A’ Ordinary, ‘B’ Ordinary Butterworths Ltd Ordinary GBR5 Cordery Compliance Ltd (72%) Ordinary GBR5 Cordery Ltd (72%) Ordinary GBR5 Crediva Ltd Ordinary GBR6 DBT Ltd Ordinary GBR2 Dew Events Ltd 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 Everyform Ltd Ordinary A, GBR9 Ordinary B, Ordinary C, Ordinary D Fircosoft Ltd Ordinary GBR2 First 4 Farming Ltd Ordinary GBR2 Formpart (EPL) Ltd Ordinary GBR1 Formpart (EPS) Ltd Ordinary GBR1 Formpart (MDL) Ltd Ordinary GBR1 Formpart (PDL) Ltd Ordinary GBR1 Formpart (SFL) Ltd Ordinary GBR1 Gamermania Ltd Ordinary GBR2 George Philip Holdings Ltd Cumulative GBR1 Preference, Ordinary, Ordinary A, Redeemable Cumulative Preference Company Name Share Class Reg Office United Kingdom cont. Hallplaza Ltd Ordinary GBR4 Imbibe Media Ltd Ordinary GBR4 Indicium Financial Ltd Ordinary GBR10 InferMed Ltd Ordinary GBR8 Information Handling Ltd (85%) Ordinary GBR1 Insurance Initiatives Ltd Ordinary GBR10 Legend Exhibitions Ltd Ordinary-A, GBR4 Ordinary-B LexisNexis Risk Solutions UK Ltd Ordinary GBR11 Marktile Ltd Ordinary GBR1 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 Neptune Collections Ltd Deferred GBR4 Newsflo Ltd Ordinary GBR1 Offshore Europe (Management) Ltd Ordinary GBR4 Offshore Europe Partnership (50%) Partnership Interest GBR4 OPG 1 Ltd Ordinary GBR1 Oxford Spires Management Co; Ltd (55%) Ordinary GBR12 Peopletracer Ltd Ordinary GBR6 Prean Holdings Ltd Deferred, Ordinary GBR1 RE (IDM) Ltd Cumulative GBR2 Redeemable Preference, Ordinary, Ordinary-A RE (SEG) Ltd Ordinary-A, GBR4 Ordinary-B, Preferred Ordinary RE (SEL) Ltd Ordinary GBR4 RE (SOE) Ltd Ordinary GBR4 RE Directors (No.1) Ltd Ordinary GBR1 RE Directors (No.2) Ltd Ordinary GBR1 RE Secretaries Ltd Ordinary GBR1 Reed All-Energy 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 Investment Management Ltd Ordinary GBR1 Reed Elsevier Pension Trustee Ltd Ordinary GBR1 Reed Events Ltd Ordinary GBR4 Reed Exhibitions Ltd Deferred, Ordinary GBR4 Reed Healthcare Communications Ltd Ordinary-A GBR2 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) Holdings Ltd Ordinary GBR1 RELX (UK) Ltd Ordinary GBR1 RELX Finance Ltd Ordinary GBR1 RELX Group plc ‘E’ Ordinary, GBR1 Ordinary, ‘R’ Ordinary RELX Overseas Holdings Ltd Ordinary, GBR1 Preference REV Venture Partners Ltd Ordinary GBR1 Rowan Marketing Ltd (50%) Ordinary GBR2 Scripta Technica Ltd ‘A’ Ordinary, ‘B’ GBR1 Ordinary, Cumulative Preference Sharpwise Ltd Ordinary GBR1 The Lancet Ltd Ordinary GBR1 The Medicine Publishing Company Ltd Ordinary GBR1 The Medicine Publishing Group Ltd Ordinary GBR1 The Viscom Group Ltd Ordinary GBR1 Tolley Publishing Company Ltd Ordinary, A Equity GBR1 Tracesmart Group Ltd Ordinary GBR6 Tracesmart Ltd Ordinary GBR6 Wunelli Ltd Ordinary GBR13 United States Accuity Asset Verification Services Inc Common Stock USA1 Accuity Europe Inc Common Stock USA1 Accuity Holdings Inc Common Stock and USA1 Preferred Stock Accuity Inc Common Stock USA1 C.L.U.E. Inc Common Stock USA2 Charles Jones LLC Membership Interest USA2 De Pluimen LLC Membership Interest USA3 Derman, Inc Common Stock USA4 Diio LLC Membership Interest USA5 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, Inc Common Stock USA2 ExitCare LLC Membership Interest USA3 Fire Solutions Inc Common and USA4 Preferred Stock Flightstats, Inc Common Stock USA5 Gaming Business Asia LLC (50%) Membership Interest USA3 Globalrange Corporation Common Stock USA5 Gold Standard, Inc Ordinary shares USA3 Health Market Science, Inc Common Stock USA2 IDG-RBI Membership Interest USA3 Informed Decisions, LLC Membership Interest USA3 Innovata, LLC Membership Interest USA5 Intelligize, Inc Common Stock USA3 Internet-Journals LLC Membership Interest USA3 J.Allan Sheehan Scholarship Fund Inc No Shares USA3 Knovel Corporation Common Stock USA3 Lex Machina Inc Common Stock USA3 LexisNexis Claims Solutions Inc Common Stock USA2 LexisNexis Coplogic Solutions Inc Common Stock USA2 LexisNexis of Puerto Rico Inc Common Stock USA6 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 Bureau LLC Membership Interest USA2 LexisNexis Risk Solutions FL Inc Common Stock USA2 LexisNexis Risk Solutions Inc Common Stock USA2 LexisNexis Special Services Inc Common Stock USA6 LexisNexis VitalChek Network Inc Common Stock USA2 Managed Technology Services LLC (51%) Membership USA9 Interest Matthew Bender & Company, Inc. Common Stock USA3 MLex US, Inc (91%) Common Stock USA3 MWW Clinical Sales Force, Inc. (50%) Common Stock USA3 Nexis, Inc Common Stock USA4 PoliceReports.US, LLC Membership Interest USA2 Portfolio Media, Inc Common Stock USA3 Ravel Law Inc Common Stock USA3 Re (CMDGC) Inc Common Stock USA3 Reed Business Information Inc Common Stock USA5 Reed Technology and Information Services Inc. Common Stock USA3 Reed Westminster Cares Inc No Stock USA 4 RELX Capital Inc Common Stock USA4 RELX Inc Common Stock USA3 RELX US Holdings Inc Common Stock USA3 Reman, Inc Common Stock USA3 REV IV Partnership LP No shares USA4 Ronald G. Segel Memorial Scholarship Fund Inc. No shares USA3 SAFI Americas LLC (50%) Membership Interest USA3 tClara LLC (51%) Membership Interest USA4 The Elsevier Foundation No Shares USA3 The Michie Company Common Stock USA4 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 World Compliance, Inc Common Stock USA4 Venezuela Encyclopédie Médico-Chirurgicale Venezuela C.A. Ordinary VEN1 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 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, 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 BRA2: São Paulo, State of São Paulo, at Rua Bela Cintra, nº 1.200, 8th floor, CEP 01415-002 BRA3: Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, BRA4: Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 Canada CAN1: 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada CAN2: 905 King Street West, 4TH Floor, Toronto, Ontario, Canada M6K 3G9 CAN3: 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 Chile CHL1: Serrano 172, Santiago, Chile 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, CHN4: Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 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: Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China CHN13: World Expo Mansion, 14F, No. 04-05, 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, CHN17: No 498, GouShouJing Road, Building 6 Unit 12502-505, CHN18: Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality Colombia COL1: Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Denmark DNK1: Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark Registered offices 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 Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt France FRA1: 65, rue Camille Desmoulins, 92130, Issy les 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: Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) FRA7: 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France FRA8: 6-8 Germany DEU1: Völklinger Strasse 4, 40219, Düsseldorf, Germany DEU3: Theodor-Heuss-Allee 108, D-60488, DEU4: Hackerbrücke 6, 80335, Munich, Germany DEU5: Heerdter Sandberg 30, 40549, Düsseldorf, Germany DEU6: Schwannstr. 6, 40476 Düsseldorf DEU7: Steinhäuserstrasse 9, 76135, Karlsruhe, Germany 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, 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, IND6: B-9, 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 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 (MI) Via Marostica 1 cap 20146 Japan JPN1: Kyodo Tsushin Kaikam 2F, 2-2-5 Minato-ku, 105-0001 JPN2: Ark Mori Building, 1-12-32 Minato-ku, 107-6029, JPN3: 1-9-15, Minato-ku JPN4: Shinjuku-Nomura Bldg., 1-26-2 Shinjuku-ku, JPN5: 13-12 Chiyoda-ku, Registered offices Korea (South) KOR1: Chunwoo Building, 4th floor, 534 Itaewon-dong, Yongsan-gu, 140-861, KOR2: 206 Noksapyeong-daero, Yongsan-gu, KOR3: “Room 4401, Trade Tower, 159-1, Gangnam-gu 135-729, KOR4: 1324 Block A Tera Tower II, 201, Songpa-daero, Songpa-gu, Luxembourg LUX1: Bloc B 19-21, L-8009 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, 6ème étage, Apt 61, Casablanca, Morocco New Zealand NZL1: Level 1, 138 The Terrace, P.O. Box 472, Wellington 6011, New Zealand Philippines PHL1: Building H, 2nd Floor, U.P. Ayalaland TechnoHub, Commonwealth Avenue, Quezon City, Metro Manila, 1101, Philippines Poland POL1: Natpoll Building, ul. Migdalowa 4/59, 02-796, 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 SGP2: 16 Raffles Quay, #33-03 SGP3: 80 Robinson Road, #02-00, SGP4: 1 Changi Business Park Crescent, #06-01 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 ZAF4: Thebe House, 2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa Spain ESP1: C/ Josep Tarradellas 20-30, 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, Registered offices Thailand THA1: Sathorn Nakorn Building, Floor 32, No. 100/68-69 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 Turkey TUR1: Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Şişli-Maslak, TUR2: Tüyap Fuar ve Kongre Merkezi, E – 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece, Istanbul, 34500, Turkey United Kingdom GBR1: 1-3 GBR2: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom GBR3: AG Gateway Global Network, 85 Great Portland Street, First Floor, London, W1W 7LT, United Kingdom GBR4: Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom GBR5: Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom GBR6: Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom GBR7: The Eye, 1 Procter Street, London, WC1V 6EU, 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, EH2 3JZ, 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, PO6 3EN, United Kingdom US 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 Venezuela VEN1: Avenida Banca, Torre BOD, Piso 21, La Castellana, Estado Miranda, Caracas, Venezuela |
Basis of Preparation and Acco70
Basis of Preparation and Accounting Policies - Summary of Changes in Proforma Financial Data (Detail) £ / shares in Units, £ in Millions | 12 Months Ended |
Dec. 31, 2017GBP (£)£ / shares | |
Proforma financial data [line items] | |
Revenue | £ 7,341 |
Adjusted operating profit | 2,284 |
Reported operating profit | 1,905 |
Net finance costs | (199) |
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | 1,620 |
Reported net profit attributable to RELX PLC and RELX NV shareholders | £ 1,648 |
Adjusted EPS | £ / shares | £ 0.802 |
Reported EPS | £ / shares | £ 0.816 |
Right of use asset | £ 288 |
Borrowings (including lease liability) | (5,253) |
Finance lease receivable | 56 |
Deferred income | (1,910) |
As reported [member] | |
Proforma financial data [line items] | |
Revenue | 7,355 |
Adjusted operating profit | 2,284 |
Reported operating profit | 1,905 |
Net finance costs | (182) |
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | 1,635 |
Reported net profit attributable to RELX PLC and RELX NV shareholders | £ 1,659 |
Adjusted EPS | £ / shares | £ 0.810 |
Reported EPS | £ / shares | £ 0.822 |
Right of use asset | £ 16 |
Borrowings (including lease liability) | (4,886) |
Deferred income | (1,834) |
IFRS 9 impact [member] | |
Proforma financial data [line items] | |
Net finance costs | (2) |
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | (2) |
Reported net profit attributable to RELX PLC and RELX NV shareholders | £ (2) |
Adjusted EPS | £ / shares | £ (0.001) |
Reported EPS | £ / shares | £ (0.001) |
Borrowings (including lease liability) | £ 14 |
IFRS 15 impact [member] | |
Proforma financial data [line items] | |
Revenue | (14) |
Adjusted operating profit | (11) |
Reported operating profit | (11) |
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | (9) |
Reported net profit attributable to RELX PLC and RELX NV shareholders | £ (9) |
Adjusted EPS | £ / shares | £ (0.005) |
Reported EPS | £ / shares | £ (0.005) |
Deferred income | £ (76) |
IFRS 16 impact [member] | |
Proforma financial data [line items] | |
Adjusted operating profit | 11 |
Reported operating profit | 11 |
Net finance costs | (15) |
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | £ (4) |
Adjusted EPS | £ / shares | £ (0.002) |
Right of use asset | £ 272 |
Borrowings (including lease liability) | (381) |
Finance lease receivable | £ 56 |
Segment Analysis - Additional I
Segment Analysis - Additional Information (Detail) Participants in Millions | 12 Months Ended | ||
Dec. 31, 2017GBP (£)EventCountyParticipantsSegments | Dec. 31, 2016GBP (£) | Dec. 31, 2015GBP (£) | |
Disclosure of operating segments [line items] | |||
Number of segments | Segments | 4 | ||
Number of face to face events conducted | Event | 500 | ||
Number of countries face to face events conducted | County | 30 | ||
Number of participant in face to face events | Participants | 7 | ||
Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Profit (loss) from joint ventures | £ 37,000,000 | £ 37,000,000 | £ 64,000,000 |
Legal [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Amortisation of acquired intangible assets | 0 | 3,000,000 | 3,000,000 |
Profit (loss) from joint ventures | 5,000,000 | 10,000,000 | 37,000,000 |
Exhibitions [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Amortisation of acquired intangible assets | 1,000,000 | 1,000,000 | 1,000,000 |
Profit (loss) from joint ventures | 32,000,000 | 27,000,000 | 28,000,000 |
Risk & business analytics [member] | Joint ventures [member] | |||
Disclosure of operating segments [line items] | |||
Profit (loss) from joint ventures | £ 0 | £ 0 | £ (1,000,000) |
Segment Analysis - Summary of A
Segment Analysis - Summary of Analysis by Business Segment (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of operating segments [line items] | |||
Revenue | £ 7,355 | £ 6,895 | £ 5,971 |
Business segments [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,355 | 6,895 | 5,971 |
Adjusted operating profit | 2,284 | 2,114 | 1,822 |
Business segments [member] | Operating segments [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 7,355 | 6,895 | 5,971 |
Adjusted operating profit | 2,289 | 2,119 | 1,826 |
Business segments [member] | Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,478 | 2,320 | 2,070 |
Adjusted operating profit | 913 | 853 | 760 |
Business segments [member] | Operating segments [member] | Risk & business analytics [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 2,076 | 1,906 | 1,601 |
Adjusted operating profit | 759 | 686 | 575 |
Business segments [member] | Operating segments [member] | Legal [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,692 | 1,622 | 1,443 |
Adjusted operating profit | 332 | 311 | 274 |
Business segments [member] | Operating segments [member] | Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,109 | 1,047 | 857 |
Adjusted operating profit | 285 | 269 | 217 |
Business segments [member] | Unallocated amounts [member] | |||
Disclosure of operating segments [line items] | |||
Adjusted operating profit | £ (5) | £ (5) | £ (4) |
Segment Analysis - Summary of73
Segment Analysis - Summary of Analysis of Revenue by Geographical Origin (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of geographical areas [line items] | |||
Revenue | £ 7,355 | £ 6,895 | £ 5,971 |
Geographical origin [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 7,355 | 6,895 | 5,971 |
Geographical origin [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 4,004 | 3,693 | 3,166 |
Geographical origin [member] | United Kingdom [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 1,083 | 1,055 | 996 |
Geographical origin [member] | Netherlands [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 855 | 813 | 649 |
Geographical origin [member] | Rest of Europe [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 704 | 707 | 614 |
Geographical origin [member] | Rest of world [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | £ 709 | £ 627 | £ 546 |
Segment Analysis - Summary of74
Segment Analysis - Summary of Analysis of Revenue by Geographical Market (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of geographical areas [line items] | |||
Revenue | £ 7,355 | £ 6,895 | £ 5,971 |
Geographical market [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 7,355 | 6,895 | 5,971 |
Geographical market [member] | North America [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 4,081 | 3,778 | 3,215 |
Geographical market [member] | United Kingdom [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 522 | 504 | 461 |
Geographical market [member] | Netherlands [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 92 | 118 | 117 |
Geographical market [member] | Rest of Europe [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | 1,081 | 1,091 | 958 |
Geographical market [member] | Rest of world [member] | |||
Disclosure of geographical areas [line items] | |||
Revenue | £ 1,579 | £ 1,404 | £ 1,220 |
Segment Analysis - Summary of75
Segment Analysis - Summary of Analysis of Revenue by Format (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of products and services [line items] | |||
Revenue | £ 7,355 | £ 6,895 | £ 5,971 |
Electronic [member] | |||
Disclosure of products and services [line items] | |||
Revenue | 5,399 | 4,954 | 4,179 |
Print [member] | |||
Disclosure of products and services [line items] | |||
Revenue | 834 | 875 | 906 |
Face to face [member] | |||
Disclosure of products and services [line items] | |||
Revenue | £ 1,122 | £ 1,066 | £ 886 |
Segment Analysis - Summary of76
Segment Analysis - Summary of Analysis of Revenue by Type (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of products and services [line items] | |||
Revenue | £ 7,355 | £ 6,895 | £ 5,971 |
Subscriptions [member] | |||
Disclosure of products and services [line items] | |||
Revenue | 3,808 | 3,618 | 3,123 |
Transactional [member] | |||
Disclosure of products and services [line items] | |||
Revenue | 3,449 | 3,163 | 2,736 |
Advertising [member] | |||
Disclosure of products and services [line items] | |||
Revenue | £ 98 | £ 114 | £ 112 |
Segment Analysis - Summary of77
Segment Analysis - Summary of Analysis by Business Segment Expenditure (Detail) - Business segments [member] - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | £ 133 | £ 411 | £ 211 |
Capital expenditure additions | 357 | 335 | 318 |
Amortisation of acquired intangible assets | 314 | 346 | 296 |
Depreciation and other amortisation | 272 | 257 | 228 |
Scientific, Technical & Medical [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 94 | 19 | 7 |
Capital expenditure additions | 97 | 86 | 74 |
Amortisation of acquired intangible assets | 77 | 88 | 77 |
Depreciation and other amortisation | 81 | 82 | 86 |
Risk & business analytics [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 288 | 41 | |
Capital expenditure additions | 83 | 67 | 56 |
Amortisation of acquired intangible assets | 141 | 147 | 131 |
Depreciation and other amortisation | 52 | 45 | 33 |
Legal [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 6 | 83 | 96 |
Capital expenditure additions | 154 | 156 | 161 |
Amortisation of acquired intangible assets | 52 | 73 | 56 |
Depreciation and other amortisation | 121 | 113 | 95 |
Exhibitions [member] | |||
Disclosure of operating segments [line items] | |||
Expenditure on acquired goodwill and intangible assets | 33 | 21 | 67 |
Capital expenditure additions | 23 | 26 | 27 |
Amortisation of acquired intangible assets | 44 | 38 | 32 |
Depreciation and other amortisation | £ 18 | £ 17 | £ 14 |
Segment Analysis - Summary of78
Segment Analysis - Summary of Analysis of Non-current Assets by Geographical Location (Detail) - Business segments [member] - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of geographical areas [line items] | |||
Non-current assets | £ 9,611 | £ 10,477 | £ 8,858 |
North America [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | 7,304 | 8,174 | 6,824 |
United Kingdom [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | 978 | 906 | 787 |
Netherlands [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | 154 | 135 | 125 |
Rest of Europe [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | 746 | 801 | 723 |
Rest of world [member] | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | £ 429 | £ 461 | £ 399 |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of operating segments [line items] | |||
Operating profit | £ 1,905 | £ 1,708 | £ 1,497 |
Business segments [member] | |||
Disclosure of operating segments [line items] | |||
Operating profit | 1,905 | 1,708 | 1,497 |
Adjustments: | |||
Amortisation of acquired intangible assets | 314 | 346 | 296 |
Acquisition-related costs | 56 | 51 | 35 |
Reclassification of tax in joint ventures | 10 | 10 | (6) |
Reclassification of finance income in joint ventures | (1) | (1) | |
Adjusted operating profit | £ 2,284 | £ 2,114 | £ 1,822 |
Operating Profit - Disclosure o
Operating Profit - Disclosure of Detailed Information About Operating Profit (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Staff costs | |||
Wages and salaries | £ 1,926 | £ 1,767 | £ 1,490 |
Social security costs | 213 | 198 | 169 |
Pensions | 95 | 111 | 58 |
Share based remuneration | 39 | 38 | 34 |
Total staff costs | 2,273 | 2,114 | 1,751 |
Depreciation and amortisation | |||
Amortisation of acquired intangible assets | 313 | 342 | 292 |
Share of joint ventures' amortisation of acquired intangible assets | 1 | 4 | 4 |
Amortisation of internally developed intangible assets | 203 | 189 | 157 |
Depreciation of property, plant and equipment | 69 | 68 | 71 |
Total depreciation and amortisation | 586 | 603 | 524 |
Other expenses and income | |||
Cost of sales including pre-publication costs and inventory expenses | 2,631 | 2,488 | 2,129 |
Operating lease rentals expense | 104 | 102 | 90 |
Operating lease rentals income | £ (3) | £ (6) | £ (5) |
Auditors' Remuneration - Disclo
Auditors' Remuneration - Disclosure of Detailed Information About Auditors' Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Auditors' remuneration | |||
Audit services | £ 6.5 | £ 6.2 | £ 5 |
Total audit and audit related assurance services | 7.3 | 6.8 | 5.8 |
Tax services | 0.4 | 0.9 | |
Total non-audit related services | 0.3 | 0.9 | 1.4 |
Payable to the auditors | 7.6 | 7.7 | 7.2 |
RELX PLC and RELX NV [member] | |||
Auditors' remuneration | |||
Payable to the auditors | 0.9 | 0.9 | 0.8 |
Payable to the auditors of the Group's subsidiaries [member] | |||
Auditors' remuneration | |||
Payable to the auditors | 5.6 | 5.3 | 4.2 |
Audit-related assurance services [member] | |||
Auditors' remuneration | |||
Audit services | 0.8 | 0.6 | 0.8 |
Consulting [member] | |||
Auditors' remuneration | |||
Other services | 0.1 | 0.2 | |
Due diligence and other transaction-related services [member] | |||
Auditors' remuneration | |||
Other services | £ 0.3 | £ 0.4 | £ 0.3 |
Personnel - Disclosure of Detai
Personnel - Disclosure of Detailed Information About Number of People Employed (Detail) - Employees | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of number and average number of employees [line items] | |||
Number of employees | 31,000 | 31,200 | 30,000 |
Average number of employees | 31,200 | 30,600 | 29,300 |
North America [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 13,500 | 13,700 | 13,400 |
Average number of employees | 13,600 | 13,500 | 13,400 |
United Kingdom [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 5,000 | 4,900 | 4,700 |
Average number of employees | 5,000 | 4,800 | 4,500 |
Netherlands [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 1,300 | 1,400 | 1,500 |
Average number of employees | 1,400 | 1,500 | 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 | 8,400 | 8,400 | 7,600 |
Average number of employees | 8,400 | 8,000 | 7,100 |
Operating segments [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 30,200 | 30,400 | 29,100 |
Average number of employees | 30,400 | 29,700 | 28,400 |
Operating segments [member] | Scientific, Technical & Medical [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 7,500 | 7,500 | 7,200 |
Average number of employees | 7,500 | 7,300 | 7,200 |
Operating segments [member] | Risk & business analytics [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 8,100 | 8,200 | 7,600 |
Average number of employees | 8,200 | 7,900 | 7,500 |
Operating segments [member] | Legal [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 10,600 | 10,700 | 10,500 |
Average number of employees | 10,700 | 10,600 | 10,000 |
Operating segments [member] | Exhibitions [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 4,000 | 4,000 | 3,800 |
Average number of employees | 4,000 | 3,900 | 3,700 |
Corporate and eliminations segment [member] | |||
Disclosure of number and average number of employees [line items] | |||
Number of employees | 800 | 800 | 900 |
Average number of employees | 800 | 900 | 900 |
Pension Schemes - Additional In
Pension Schemes - Additional Information (Detail) £ in Millions | 12 Months Ended | |
Dec. 31, 2017GBP (£)yr | Dec. 31, 2016GBP (£)yr | |
Disclosure of defined benefit plans [line items] | ||
Expected pension deficit funding contribution | £ 37 | |
United Kingdom [member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit scheme liabilities | yr | 20 | 20 |
United States [member] | ||
Disclosure of defined benefit plans [line items] | ||
Weighted average duration of defined benefit scheme liabilities | yr | 13 | 13 |
Funded scheme [member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligation | £ 4,690 | £ 4,760 |
Unfunded scheme [member] | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligation | 239 | 243 |
Defined benefit pension plans [member] | ||
Disclosure of defined benefit plans [line items] | ||
Deferred tax asset | 66 | £ 145 |
Defined benefit pension plans [member] | United Kingdom [member] | ||
Disclosure of defined benefit plans [line items] | ||
Deficit funding contributions for a long-term employee benefit fund | 110 | |
UK [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected pension deficit funding contribution | £ 20 |
Pension Schemes - Schedule of D
Pension Schemes - Schedule of Defined Benefit and Defined Contribution Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of defined benefit plans [abstract] | |||
Defined benefit pension expense (net of settlement and past service credits) | £ 4 | £ 36 | £ 6 |
Defined contribution pension expense | 91 | 75 | 52 |
Total | £ 95 | £ 111 | £ 58 |
Pension Schemes - Schedule of85
Pension Schemes - Schedule of Defined Benefit Pension Schemes (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of defined benefit plans [line items] | |||
Service cost | £ 47 | £ 41 | £ 67 |
Settlement and past service credits | (43) | (5) | (61) |
Defined benefit pension expense | 4 | 36 | 6 |
Net interest on net defined benefit obligation | 15 | 14 | 21 |
Net defined benefit pension expense | 19 | 50 | 27 |
United Kingdom [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 33 | 27 | 34 |
Settlement and past service credits | (42) | (1) | |
Defined benefit pension expense | (9) | 27 | 33 |
Net interest on net defined benefit obligation | 10 | 9 | 14 |
Net defined benefit pension expense | 1 | 36 | 47 |
United States [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 14 | 14 | 18 |
Settlement and past service credits | (1) | (5) | |
Defined benefit pension expense | 13 | 9 | 18 |
Net interest on net defined benefit obligation | 5 | 5 | 5 |
Net defined benefit pension expense | £ 18 | £ 14 | 23 |
Netherlands [member] | |||
Disclosure of defined benefit plans [line items] | |||
Service cost | 15 | ||
Settlement and past service credits | (60) | ||
Defined benefit pension expense | (45) | ||
Net interest on net defined benefit obligation | 2 | ||
Net defined benefit pension expense | £ (43) |
Pension Schemes - Summary of De
Pension Schemes - Summary of Defined Benefit Pension Expense (Detail) | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
United Kingdom [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 2.60% | 2.65% | 3.85% |
Inflation | 3.15% | 3.25% | 3.05% |
United States [member] | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 3.55% | 4.00% | 4.45% |
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, 2017 | |
United Kingdom [member] | Member currently aged sixty years [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 86 years |
Female average life expectancy | 88 years |
United Kingdom [member] | Member currently aged forty five years [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 87 years |
Female average life expectancy | 90 years |
United States [member] | Member currently aged sixty years [member] | |
Disclosure of defined benefit plans [line items] | |
Male average life expectancy | 86 years |
Female average life expectancy | 89 years |
United States [member] | Member currently aged forty five years [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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of net defined benefit liability (asset) [line items] | |||
Actuarial gain/(loss) on financial assumptions | £ (16) | £ (835) | |
Actuarial (loss)/gain arising from experience assumptions | (38) | 25 | |
Net defined benefit obligation, at the start of the year | (636) | (384) | |
Service cost | (47) | (41) | £ (67) |
Net interest on net defined benefit obligation | (15) | (14) | (21) |
Settlement and past service credits | 43 | 5 | 61 |
Contributions by employer | 85 | 85 | |
Actuarial gains/(losses) | 233 | (262) | |
Exchange translation differences | 9 | (25) | |
Overall net pension obligation | (328) | (636) | (384) |
Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (5,003) | (4,044) | |
Service cost | (47) | (41) | |
Past service credits | 43 | 5 | |
Interest on pension scheme liabilities | (143) | (162) | |
Contributions by employees | (8) | (7) | |
Benefits paid | 183 | 204 | |
Liabilities (Assets) transferred on settlement | 36 | ||
Exchange translation differences | 100 | (184) | |
At end of year | (4,929) | (5,003) | (4,044) |
Fair value of scheme assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 4,367 | 3,660 | |
Net interest on net defined benefit obligation | 128 | 148 | |
Return on assets excluding amounts included in interest income | 287 | 548 | |
Contributions by employer | 85 | 85 | |
Contributions by employees | 8 | 7 | |
Benefits paid | (183) | (204) | |
Liabilities (Assets) transferred on settlement | (36) | ||
Exchange translation differences | (91) | 159 | |
At end of year | 4,601 | 4,367 | 3,660 |
United Kingdom [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Actuarial gain/(loss) on financial assumptions | 45 | (774) | |
Actuarial (loss)/gain arising from experience assumptions | (39) | 22 | |
Net defined benefit obligation, at the start of the year | (493) | (251) | |
Service cost | (33) | (27) | (34) |
Net interest on net defined benefit obligation | (10) | (9) | (14) |
Settlement and past service credits | 42 | 1 | |
Contributions by employer | 42 | 44 | |
Actuarial gains/(losses) | 187 | (250) | |
Overall net pension obligation | (265) | (493) | (251) |
United Kingdom [member] | Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (3,883) | (3,089) | |
Service cost | (33) | (27) | |
Past service credits | 42 | ||
Interest on pension scheme liabilities | (101) | (117) | |
Contributions by employees | (8) | (7) | |
Benefits paid | 123 | 109 | |
At end of year | (3,854) | (3,883) | (3,089) |
United Kingdom [member] | Fair value of scheme assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 3,390 | 2,838 | |
Net interest on net defined benefit obligation | 91 | 108 | |
Return on assets excluding amounts included in interest income | 181 | 502 | |
Contributions by employer | 42 | 44 | |
Contributions by employees | 8 | 7 | |
Benefits paid | (123) | (109) | |
At end of year | 3,589 | 3,390 | 2,838 |
United States [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Actuarial gain/(loss) on financial assumptions | (61) | (61) | |
Actuarial (loss)/gain arising from experience assumptions | 1 | 3 | |
Net defined benefit obligation, at the start of the year | (143) | (133) | |
Service cost | (14) | (14) | (18) |
Net interest on net defined benefit obligation | (5) | (5) | (5) |
Settlement and past service credits | 1 | 5 | |
Contributions by employer | 43 | 41 | |
Actuarial gains/(losses) | 46 | (12) | |
Exchange translation differences | 9 | (25) | |
Overall net pension obligation | (63) | (143) | (133) |
United States [member] | Present value of defined benefit obligation [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | (1,120) | (955) | |
Service cost | (14) | (14) | |
Past service credits | 1 | 5 | |
Interest on pension scheme liabilities | (42) | (45) | |
Benefits paid | 60 | 95 | |
Liabilities (Assets) transferred on settlement | 36 | ||
Exchange translation differences | 100 | (184) | |
At end of year | (1,075) | (1,120) | (955) |
United States [member] | Fair value of scheme assets [member] | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
At start of year | 977 | 822 | |
Net interest on net defined benefit obligation | 37 | 40 | |
Return on assets excluding amounts included in interest income | 106 | 46 | |
Contributions by employer | 43 | 41 | |
Benefits paid | (60) | (95) | |
Liabilities (Assets) transferred on settlement | (36) | ||
Exchange translation differences | (91) | 159 | |
At end of year | £ 1,012 | £ 977 | £ 822 |
Pension Schemes - Summary of Ne
Pension Schemes - Summary of Net Pension Obligations and Net Pension Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of defined benefit plans [abstract] | |||
Net pension asset | £ 22 | ||
Net pension obligation | (350) | £ (636) | |
Overall net pension obligation | £ (328) | £ (636) | £ (384) |
Pension Schemes - Amounts Rec90
Pension Schemes - Amounts Recognised in Statement of Comprehensive Income (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Gains and losses arising during the year: | |||
Experience (losses)/gains on scheme liabilities | £ (38) | £ 25 | £ 182 |
Experience gains/(losses) on scheme assets | 287 | 548 | (134) |
Actuarial (losses)/gains on the present value of scheme liabilities due to changes in: | |||
- discount rates | (102) | (873) | 96 |
- inflation | 69 | (96) | (64) |
- other actuarial assumptions | 17 | 134 | 77 |
Actuarial (losses)/gains on defined benefit pension schemes | 233 | (262) | 157 |
Net cumulative losses at start of year | (846) | (584) | (741) |
Net cumulative losses at end of year | £ (613) | £ (846) | £ (584) |
Pension Schemes - Summary of Fa
Pension Schemes - Summary of Fair Value of Scheme Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of fair value of plan assets [line items] | ||
Equities | £ 1,395 | £ 1,591 |
Government bonds | 1,616 | 1,494 |
Corporate bonds | 622 | 527 |
Property funds and ground leases | 620 | 487 |
Structured debt and direct lending | 253 | 162 |
Cash and cash equivalents | 64 | 84 |
Other | 31 | 22 |
Total | 4,601 | 4,367 |
UK [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 1,252 | 1,261 |
Government bonds | 1,395 | 1,390 |
Property funds and ground leases | 620 | 487 |
Structured debt and direct lending | 253 | 162 |
Cash and cash equivalents | 46 | 69 |
Other | 23 | 21 |
Total | 3,589 | 3,390 |
US [member] | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 143 | 330 |
Government bonds | 221 | 104 |
Corporate bonds | 622 | 527 |
Cash and cash equivalents | 18 | 15 |
Other | 8 | 1 |
Total | £ 1,012 | £ 977 |
Pension Schemes - Sensitivity A
Pension Schemes - Sensitivity Analysis of Actuarial Assumptions (Detail) £ in Millions | Dec. 31, 2017GBP (£) |
Actuarial assumption of discount rates [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase/decrease of 0.25% in discount rate | £ 222 |
Actuarial assumption of expected rates of inflation [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase/decrease of 0.25% in discount rate | 134 |
Actuarial assumption of life expectancy rates [member] | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase/decrease of 0.25% in discount rate | £ 179 |
Share Based Remuneration - Addi
Share Based Remuneration - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Options ESOS [member] | Bottom of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vesting period | 3 years | ||
Options ESOS [member] | Top of range [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vesting period | 10 years | ||
Conditional shares [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vesting period | 3 years | ||
Consideration if conditions are met | Conditional shares granted under LTIP, RSP and BIP are exercisable after three years for nil consideration if conditions are met. | ||
RELX PLC [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Weighted average share price at date of exercise of share options and vesting of conditional share | £ 15.60 | £ 12.78 | £ 11.18 |
RELX NV [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Weighted average share price at date of exercise of share options and vesting of conditional share | £ 17.23 | £ 15.23 | £ 14.50 |
Share Based Remuneration - Summ
Share Based Remuneration - Summary of Number and Weighted Average Fair Value Per Award of Share Granted (Detail) pure in Thousands | 12 Months Ended | ||
Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | Dec. 31, 2015GBP (£) | |
RELX PLC [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares | 1,688 | 1,727 | 1,911 |
RELX PLC [member] | Share option [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares | 1,688 | 1,727 | 1,911 |
Weighted average fair value per award | £ 1.60 | £ 1.49 | £ 1.23 |
RELX PLC [member] | Conditional shares [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares | 1,637 | 1,706 | 1,841 |
Weighted average fair value per award | £ 13.74 | £ 11.51 | £ 10.44 |
RELX NV [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares | 1,647 | 1,668 | 1,827 |
RELX NV [member] | Share option [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares | 1,647 | 1,668 | 1,827 |
Weighted average fair value per award | £ 1.30 | £ 1.12 | £ 0.77 |
RELX NV [member] | Conditional shares [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares | 1,631 | 1,778 | 1,874 |
Weighted average fair value per award | £ 13.33 | £ 11.41 | £ 9.72 |
Share Based Remuneration - Su95
Share Based Remuneration - Summary of Main Assumptions Used to Determine Fair Values (Detail) | 12 Months Ended | |||||
Dec. 31, 2017GBP (£)yr | Dec. 31, 2017EUR (€)yr | Dec. 31, 2016GBP (£)yr | Dec. 31, 2016EUR (€)yr | Dec. 31, 2015GBP (£)yr | Dec. 31, 2015EUR (€)yr | |
RELX PLC [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected share price volatility | 16.00% | 16.00% | 17.00% | 17.00% | 19.00% | 19.00% |
Expected option life | yr | 4 | 4 | 4 | 4 | 4 | 4 |
Expected dividend yield | 3.00% | 3.00% | 3.00% | 3.00% | 3.50% | 3.50% |
Risk-free interest rate | 0.30% | 0.30% | 0.70% | 0.70% | 0.80% | 0.80% |
RELX PLC [member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected lapse rate | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
RELX PLC [member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected lapse rate | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
RELX PLC [member] | Share option [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average share price at date of grant | £ | £ 15.44 | £ 12.52 | £ 11.44 | |||
RELX PLC [member] | Conditional shares [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average share price at date of grant | £ | £ 15.07 | £ 12.68 | £ 11.55 | |||
RELX NV [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected share price volatility | 19.00% | 19.00% | 19.00% | 19.00% | 19.00% | 19.00% |
Expected option life | yr | 4 | 4 | 4 | 4 | 4 | 4 |
Expected dividend yield | 3.00% | 3.00% | 3.00% | 3.00% | 4.20% | 4.20% |
Risk-free interest rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RELX NV [member] | Bottom of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected lapse rate | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
RELX NV [member] | Top of range [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Expected lapse rate | 5.00% | 5.00% | 4.00% | 4.00% | 4.00% | 4.00% |
RELX NV [member] | Share option [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average share price at date of grant | € | € 17.04 | € 15.31 | € 14.80 | |||
RELX NV [member] | Conditional shares [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average share price at date of grant | € | € 16.71 | € 15.28 | € 14.98 |
Share Based Remuneration - Su96
Share Based Remuneration - Summary of Share Based Remuneration Options Outstanding (Detail) pure in Thousands | 12 Months Ended | ||
Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | Dec. 31, 2015GBP (£) | |
RELX PLC [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares Outstanding at beginning of period | 7,942 | 8,740 | 9,327 |
Number of shares, Granted | 1,688 | 1,727 | 1,911 |
Number of shares, Exercised | (2,130) | (1,954) | (2,053) |
Number of shares, Forfeited | (394) | (424) | (254) |
Number of shares, Expired | (140) | (147) | (191) |
Number of shares Outstanding at end of period | 6,966 | 7,942 | 8,740 |
Number of shares, Exercisable at end of period | 2,162 | 2,598 | 3,105 |
Beginning balance | £ 8.65 | £ 7.04 | £ 6.29 |
Granted | 13.96 | 11.64 | 9.78 |
Exercised | 7 | 5.19 | 6.27 |
Forfeited | 11.35 | 4.89 | 6.94 |
Expired | 7.62 | 4.70 | 6.18 |
Ending balance | 10.31 | 8.65 | 7.04 |
Exercisable at end of period | £ 6.96 | £ 5.98 | £ 5.51 |
RELX NV [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of shares Outstanding at beginning of period | 7,897 | 8,461 | 9,468 |
Number of shares, Granted | 1,647 | 1,668 | 1,827 |
Number of shares, Exercised | (2,170) | (1,778) | (1,716) |
Number of shares, Forfeited | (186) | (310) | (680) |
Number of shares, Expired | (140) | (144) | (438) |
Number of shares Outstanding at end of period | 7,048 | 7,897 | 8,461 |
Number of shares, Exercisable at end of period | 4,241 | 4,770 | 4,886 |
Beginning balance | £ 10.71 | £ 9.27 | £ 7.58 |
Granted | 17.06 | 15.31 | 14.80 |
Exercised | 9.86 | 8.05 | 7.32 |
Forfeited | 15.54 | 12.41 | 7.51 |
Expired | 9.20 | 8.56 | 6.18 |
Ending balance | 12.36 | 10.71 | 9.27 |
Exercisable at end of period | £ 10.14 | £ 8.91 | £ 8.02 |
Share Based Remuneration - Su97
Share Based Remuneration - Summary of Range of Exercise Prices for Outstanding Share Options (Detail) | Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | Dec. 31, 2015GBP (£) | Dec. 31, 2014 |
RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 6,966,000 | 7,942,000 | 8,740,000 | 9,327,000 |
Weighted average remaining period until expiry (years) | 5.2 | 5.1 | 5.3 | |
RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 7,048,000 | 7,897,000 | 8,461,000 | 9,468,000 |
Weighted average remaining period until expiry (years) | 6.5 | 6.4 | 6.3 | |
401-600 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 1,043,000 | 1,672,000 | 2,950,000 | |
Weighted average remaining period until expiry (years) | 2.8 | 3.6 | 4 | |
401-600 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 1,032,000 | 1,380,000 | 1,924,000 | |
Weighted average remaining period until expiry (years) | 3.2 | 4.2 | 5.4 | |
401-600 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 4.01 | £ 4.01 | £ 4.01 | |
401-600 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 4.01 | 4.01 | 4.01 | |
401-600 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 6 | 6 | 6 | |
401-600 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 6 | £ 6 | £ 6 | |
601-800 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 733,000 | 1,922,000 | 2,856,000 | |
Weighted average remaining period until expiry (years) | 3.6 | 3.4 | 4.4 | |
601-800 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 506,000 | 965,000 | 1,446,000 | |
Weighted average remaining period until expiry (years) | 1.8 | 2.2 | 2.8 | |
601-800 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 6.01 | £ 6.01 | £ 6.01 | |
601-800 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 6.01 | 6.01 | 6.01 | |
601-800 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 8 | 8 | 8 | |
601-800 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 8 | £ 8 | £ 8 | |
801-1,000 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 1,272,000 | 1,732,000 | 1,903,000 | |
Weighted average remaining period until expiry (years) | 4 | 5.3 | 6.3 | |
801-1,000 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 617,000 | 1,181,000 | 1,971,000 | |
Weighted average remaining period until expiry (years) | 5.4 | 5.6 | 5.9 | |
801-1,000 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 8.01 | £ 8.01 | £ 8.01 | |
801-1,000 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 8.01 | 8.01 | 8.01 | |
801-1,000 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 10 | 10 | 10 | |
801-1,000 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 10 | £ 10 | £ 10 | |
1,001-1,200 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 1,465,000 | 1,657,000 | 1,031,000 | |
Weighted average remaining period until expiry (years) | 5.3 | 6.2 | 9.3 | |
1,001-1,200 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 865,000 | 1,239,000 | 1,333,000 | |
Weighted average remaining period until expiry (years) | 6.2 | 7.2 | 8.2 | |
1,001-1,200 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 10.01 | £ 10.01 | £ 10.01 | |
1,001-1,200 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 10.01 | 10.01 | 10.01 | |
1,001-1,200 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 12 | 12 | 12 | |
1,001-1,200 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 12 | £ 12 | £ 12 | |
1,201-1,400 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 1,530,000 | 949,000 | ||
Weighted average remaining period until expiry (years) | 6.1 | 9.2 | ||
1,201-1,400 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 69,000 | 114,000 | 143,000 | |
Weighted average remaining period until expiry (years) | 6.3 | 7.5 | 8.4 | |
1,201-1,400 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 12.01 | £ 12.01 | £ 12.01 | |
1,201-1,400 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 12.01 | 12.01 | 12.01 | |
1,201-1,400 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 14 | 14 | 14 | |
1,201-1,400 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 14 | £ 14 | £ 14 | |
1,401-1,600 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 896,000 | 10,000 | ||
Weighted average remaining period until expiry (years) | 9.2 | 9.7 | ||
1,401-1,600 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 2,600,000 | 3,002,000 | 1,625,000 | |
Weighted average remaining period until expiry (years) | 7.7 | 8.7 | 9.2 | |
1,401-1,600 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 14.01 | £ 14.01 | £ 14.01 | |
1,401-1,600 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 14.01 | 14.01 | 14.01 | |
1,401-1,600 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 16 | 16 | 16 | |
1,401-1,600 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 16 | £ 16 | £ 16 | |
16.01-18.00 [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 27,000 | |||
Weighted average remaining period until expiry (years) | 9.7 | |||
16.01-18.00 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 1,154,000 | 16,000 | 19,000 | |
Weighted average remaining period until expiry (years) | 9.1 | 8.3 | 9 | |
16.01-18.00 [member] | Bottom of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 16.01 | £ 16.01 | £ 16.01 | |
16.01-18.00 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 16.01 | 16.01 | 16.01 | |
16.01-18.00 [member] | Top of range [member] | RELX PLC [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | 18 | 18 | 18 | |
16.01-18.00 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 18 | 18 | 18 | |
18.01-20.00 [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Number of shares under option | 205,000 | |||
Weighted average remaining period until expiry (years) | 9 | |||
18.01-20.00 [member] | Bottom of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 18.01 | 18.01 | 18.01 | |
18.01-20.00 [member] | Top of range [member] | RELX NV [member] | ||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||
Range price | £ 20 | £ 20 | £ 20 |
Net Finance Costs - Summary of
Net Finance Costs - Summary of Net Finance Costs (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Finance Costs [Abstract] | |||
Interest on short-term bank loans, overdrafts and commercial paper | £ (10) | £ (15) | £ (11) |
Interest on term debt | (152) | (160) | (141) |
Total borrowing costs | (162) | (175) | (152) |
Losses on loans and derivatives not designated as hedges | (9) | (14) | (3) |
Fair value losses on designated fair value hedge relationships | (1) | ||
Net financing charge on defined benefit pension schemes | (15) | (14) | (21) |
Finance costs | (186) | (203) | (177) |
Interest on bank deposits | 3 | 6 | 3 |
Fair value gains on designated fair value hedge relationships | 1 | ||
Gains on loans and derivatives not designated as hedges | 2 | ||
Finance income | 4 | 8 | 3 |
Net finance costs | £ (182) | £ (195) | £ (174) |
Net Finance Costs - Additional
Net Finance Costs - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest costs [abstract] | |||
Net gain (loss) on interest rate derivatives designated as cash flow hedges | £ 63 | £ (26) | £ (48) |
Gain (loss) related to foreign exchange movements on debt hedges | 78 | (18) | (42) |
Offset of foreign exchange gains (loss)on the related debt | 78 | 18 | 42 |
Gain (loss )of recognised in other comprehensive income | £ (15) | £ (8) | £ (6) |
Disposals and other non-oper100
Disposals and other non-operating items - Summary of Disposals and Other Non-operating Items (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of disposals and non-operating items [abstract] | |||
Revaluation of held for trading investments | £ 5 | £ (13) | £ 8 |
Gain/(loss) on disposal of businesses and assets held for sale | 6 | (27) | (19) |
Net gain/(loss) on disposals and other non-operating items | £ 11 | £ (40) | £ (11) |
Taxation - Summary of Tax Expen
Taxation - Summary of Tax Expense (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current tax | |||
Total current tax charge | £ (439) | £ (374) | £ (370) |
Deferred tax | 372 | 70 | 72 |
Tax expense | (67) | (304) | (298) |
United Kingdom [member] | |||
Current tax | |||
Total current tax charge | (104) | (80) | (65) |
Netherlands [member] | |||
Current tax | |||
Total current tax charge | (77) | (51) | (45) |
Rest of world [member] | |||
Current tax | |||
Total current tax charge | £ (258) | £ (243) | £ (260) |
Taxation - Additional Informati
Taxation - Additional Information (Detail) - GBP (£) | Apr. 01, 2020 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of income tax expenses [line items] | |||||
Tax paid (net) | £ 449,000,000 | £ 402,000,000 | £ 343,000,000 | ||
Tax at average applicable rates | 22.60% | 22.40% | 22.80% | ||
Deferred tax charge directly in equity | £ 89,000,000 | £ (54,000,000) | |||
Deferred tax assets | 405,000,000 | 444,000,000 | |||
Unused tax losses [member] | |||||
Disclosure of income tax expenses [line items] | |||||
Deferred tax assets | 0 | 0 | |||
Unused trading losses carried forward | 143,000,000 | 111,000,000 | |||
Deferred tax asset not recognised | 34,000,000 | 30,000,000 | |||
Unrecognised losses expiration within 10 years | 30,000,000 | 31,000,000 | |||
Unrecognised losses expiration more than 10 years | 113,000,000 | 80,000,000 | |||
Deferred tax asset not recognised which can only be used to offset future capital gains | 4,000,000 | 7,000,000 | |||
Other temporary differences [member] | |||||
Disclosure of income tax expenses [line items] | |||||
Amount of deferred tax asset losses | £ 23,000,000 | £ 42,000,000 | |||
United Kingdom [member] | |||||
Disclosure of income tax expenses [line items] | |||||
Corporate tax rate | 18.00% | ||||
Reduction in U.S. federal corporate tax rate | 35.00% | ||||
U.S. federal and state tax rate | 26.00% | ||||
Deferred tax credit | £ 346,000,000 | ||||
Benefit from reduction in corporate tax rate in UK | 3.90% | 20.70% | 22.70% | ||
Deferred tax charge in other comprehensive income | £ 10,000,000 | ||||
Deferred tax charge directly in equity | £ 5,000,000 | ||||
Changes in tax rates or tax laws enacted or announced [member] | United Kingdom [member] | |||||
Disclosure of income tax expenses [line items] | |||||
Corporate tax rate | 17.00% | ||||
Reduction in U.S. federal corporate tax rate | 21.00% |
Taxation - Weighted Average of
Taxation - Weighted Average of Tax Rates Applicable to Accounting Profits and Losses (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Profit before tax | £ 1,734 | £ 1,473 | £ 1,312 |
Tax at average applicable rates | (392) | (330) | (299) |
Tax effect of share of results of joint ventures | 7 | 7 | 11 |
Expenses not deductible for tax purposes | (14) | (18) | (16) |
US state taxes | (18) | (13) | (9) |
Non-deductible costs of share based remuneration | (1) | (1) | (3) |
Non-deductible disposal-related gains and losses | (36) | (8) | 4 |
Tax losses of the period not recognised | (10) | (2) | (2) |
Recognition and utilisation of tax losses that arose in prior years | 16 | 32 | |
Other adjustments in respect of prior periods | 35 | 28 | 16 |
Deferred tax effect of changes in tax rates | 346 | 1 | |
Tax expense | £ (67) | £ (304) | £ (298) |
Tax at average applicable rates | 22.60% | 22.40% | 22.80% |
Tax effect of share of results of joint ventures | (0.40%) | (0.50%) | (0.80%) |
Expenses not deductible for tax purposes | 0.70% | 1.30% | 1.10% |
US state taxes | 1.00% | 0.90% | 0.70% |
Non-deductible costs of share based remuneration | 0.10% | 0.10% | 0.20% |
Non-deductible disposal-related gains and losses | 2.10% | 0.50% | (0.30%) |
Tax losses of the period not recognised | 0.60% | 0.10% | 0.20% |
Recognition and utilisation of tax losses that arose in prior years | (0.90%) | (2.10%) | 0.00% |
Other adjustments in respect of prior periods | (2.00%) | (1.90%) | (1.20%) |
Deferred tax effect of changes in tax rates | (19.90%) | (0.10%) | 0.00% |
Tax expense | 3.90% | 20.70% | 22.70% |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Tax on items that will not be reclassified to profit or loss | |||
Tax on actuarial movements on defined benefit pension schemes | £ (59) | £ 45 | £ (34) |
Tax on items that may be reclassified to profit or loss | |||
Tax on fair value movements on cash flow hedges | (30) | 19 | 18 |
Net tax (debit)/credit recognised in other comprehensive income | (89) | 64 | (16) |
Tax credit on share based remuneration recognised directly in equity | £ 8 | £ 10 | £ 17 |
Taxation - Summary of Deferred
Taxation - Summary of Deferred Tax Liabilities and Assets (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets and liabilities [abstract] | |||
Deferred tax assets | £ 405 | £ 444 | |
Deferred tax liabilities | (738) | (1,137) | |
Total | £ (333) | £ (693) | £ (651) |
Taxation - Movements in Deferre
Taxation - Movements in Deferred Tax Liabilities and Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deferred tax (liability)/asset at start of year | £ (693) | £ (651) |
Credit/(charge) to profit | 372 | 70 |
(Charge)/credit to equity/other comprehensive income | (89) | 54 |
Acquisitions | (2) | (35) |
Exchange translation differences | 79 | (131) |
Deferred tax (liability)/asset at end of year | (333) | (693) |
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 | (393) | (339) |
Credit/(charge) to profit | 97 | 9 |
Exchange translation differences | 29 | (63) |
Deferred tax (liability)/asset at end of year | (267) | (393) |
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 | (767) | (702) |
Credit/(charge) to profit | 298 | 91 |
Acquisitions | (2) | (38) |
Exchange translation differences | 45 | (118) |
Deferred tax (liability)/asset at end of year | (426) | (767) |
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 | (338) | (291) |
Credit/(charge) to profit | 2 | 4 |
(Charge)/credit to equity/other comprehensive income | 7 | 4 |
Exchange translation differences | 27 | (55) |
Deferred tax (liability)/asset at end of year | (302) | (338) |
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 | 327 | 295 |
Credit/(charge) to profit | (32) | (31) |
(Charge)/credit to equity/other comprehensive income | (20) | 17 |
Exchange translation differences | (23) | 46 |
Deferred tax (liability)/asset at end of year | 252 | 327 |
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 | 263 | 251 |
Credit/(charge) to profit | (15) | (28) |
Exchange translation differences | 9 | 40 |
Deferred tax (liability)/asset at end of year | 257 | 263 |
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 | 70 | 32 |
Credit/(charge) to profit | 22 | 26 |
Acquisitions | 3 | |
Exchange translation differences | (5) | 9 |
Deferred tax (liability)/asset at end of year | 87 | 70 |
Pensions liabilities [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 | 145 | 103 |
Credit/(charge) to profit | (1) | |
(Charge)/credit to equity/other comprehensive income | (76) | 33 |
Exchange translation differences | (3) | 10 |
Deferred tax (liability)/asset at end of year | £ 66 | £ 145 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Earnings Per Share-2016 (Detail) - RELX PLC and RELX NV [member] - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Earnings per share [line items] | ||
Net profit attributable to RELX PLC and RELX NV shareholders | £ 1,659 | £ 1,161 |
Weighted average number of shares, Basic | 2,019.4 | 2,062.3 |
EPS, Basic | £ 0.825 | £ 0.563 |
Net profit attributable to RELX PLC and RELX NV shareholders | £ 1,659 | £ 1,161 |
Weighted average number of shares, Diluted | 2,035.2 | 2,079.8 |
EPS, Diluted | £ 0.815 | £ 0.058 |
Earnings Per Share - Summary108
Earnings Per Share - Summary of Allocation of Earnings-2015 and 2014 (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings per share [line items] | |||
Net profit attributable to RELX PLC and RELX NV shareholders | £ 1,659 | £ 1,161 | £ 1,008 |
RELX PLC [member] | |||
Earnings per share [line items] | |||
Allocation of distributed earnings | 294 | ||
Allocation of undistributed earnings | 224 | ||
Net profit attributable to RELX PLC and RELX NV shareholders | 518 | ||
RELX NV [member] | |||
Earnings per share [line items] | |||
Allocation of distributed earnings | 291 | ||
Allocation of undistributed earnings | 199 | ||
Net profit attributable to RELX PLC and RELX NV shareholders | £ 490 |
Earnings Per Share - Summary109
Earnings Per Share - Summary of Earnings Per Share-2015 and 2014 (Detail) shares in Millions | 12 Months Ended |
Dec. 31, 2015£ / sharesshares | |
RELX PLC [member] | |
Earnings per share [line items] | |
Weighted average number of shares, Basic | shares | 1,116.2 |
EPS, Basic | £ / shares | £ 0.464 |
Weighted average number of shares, Diluted | shares | 1,125.9 |
EPS, Diluted | £ / shares | £ 0.460 |
RELX NV [member] | |
Earnings per share [line items] | |
Weighted average number of shares, Basic | shares | 992.4 |
EPS, Basic | £ / shares | £ 0.494 |
Weighted average number of shares, Diluted | shares | 1,001.6 |
EPS, Diluted | £ / shares | £ 0.489 |
Earnings Per Share - Summary110
Earnings Per Share - Summary of Adjusted Earnings Per Share (Detail) - GBP (£) £ / shares in Units, £ in Millions, shares in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings per share [line items] | |||
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | £ 1,635 | £ 1,488 | £ 1,275 |
RELX PLC and RELX NV [member] | |||
Earnings per share [line items] | |||
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | £ 1,635 | £ 1,488 | £ 1,275 |
Adjusted weighted average number of shares | 2,019.4 | 2,062.3 | 2,108.6 |
Adjusted EPS | £ 0.810 | £ 0.722 | £ 0.605 |
Earnings Per Share - Summary111
Earnings Per Share - Summary of Reconciliation of Adjusted Net Profit Attributable to Parent (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings per share [abstract] | |||
Net profit attributable to RELX PLC and RELX NV shareholders | £ 1,659 | £ 1,161 | £ 1,008 |
Adjustments (post-tax): | |||
Amortisation of acquired intangible assets | 356 | 364 | 311 |
Acquisition-related costs | 43 | 38 | 27 |
Net financing charge on defined benefit pension schemes | 11 | 10 | 16 |
Disposals and other non-operating items | 5 | 6 | (2) |
Other deferred tax credits from intangible assets | (93) | (91) | (85) |
Exceptional tax credit | (346) | ||
Adjusted net profit attributable to RELX PLC and RELX NV shareholders | £ 1,635 | £ 1,488 | £ 1,275 |
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Profit before tax | £ 1,734 | £ 1,473 | £ 1,312 |
Disposals and other non-operating items | (11) | 40 | 11 |
Net finance costs | (182) | (195) | (174) |
Operating profit | 1,905 | 1,708 | 1,497 |
Operating profit | 1,905 | 1,708 | 1,497 |
Share of results of joint ventures | (37) | (37) | (64) |
Amortisation of acquired intangible assets | 313 | 342 | 292 |
Amortisation of internally developed intangible assets | 203 | 189 | 157 |
Depreciation of property, plant and equipment | 69 | 68 | 71 |
Share based remuneration | 39 | 38 | 34 |
Total non-cash items | 624 | 637 | 554 |
Decrease/(increase) in inventories and pre-publication costs | 2 | (24) | (17) |
Decrease/(increase) in receivables | 35 | (146) | (150) |
(Decrease)/increase in payables | (84) | 98 | 62 |
Increase in working capital | (47) | (72) | (105) |
Cash generated from operations | £ 2,445 | £ 2,236 | £ 1,882 |
Statement of cash flows - Sc113
Statement of cash flows - Schedule of Cash Flow on Acquisitions (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Purchase of businesses | £ (117) | £ (336) | £ (158) |
Investment in joint ventures | (1) | (1) | (8) |
Deferred payments relating to prior year acquisitions | (13) | (24) | (25) |
Total | £ (131) | £ (361) | £ (191) |
Statement of cash flows - Sc114
Statement of cash flows - Schedule of Reconciliation of Net Borrowings (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Cash Flow Statement [line items] | |||
At start of year | £ (4,700) | £ (3,782) | £ (3,550) |
At start of year | 4,843 | ||
(Decrease)/increase in cash and cash equivalents | (45) | 9 | (139) |
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 148 | (271) | 339 |
Issuance of term debt | (873) | (603) | (500) |
Repayment of term debt | 712 | 474 | 186 |
Repayment of finance leases | 5 | 7 | 9 |
Change in net borrowings resulting from cash flows | (53) | (384) | (105) |
Inception of finance leases | (2) | (3) | (12) |
Fair value and other adjustments to borrowings and related derivatives | (9) | (22) | 4 |
Exchange translation differences | 32 | (509) | (119) |
At end of year | (4,732) | (4,700) | £ (3,782) |
At end of year | 4,886 | 4,843 | |
Cash and cash equivalents [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
At start of year | 162 | ||
(Decrease)/increase in cash and cash equivalents | 45 | ||
Change in net borrowings resulting from cash flows | (45) | ||
Exchange translation differences | 6 | ||
At end of year | 111 | 162 | |
Borrowings [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
At start of year | (4,843) | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | 152 | ||
Issuance of term debt | (873) | ||
Repayment of term debt | 712 | ||
Repayment of finance leases | 5 | ||
Change in net borrowings resulting from cash flows | (4) | ||
Inception of finance leases | (2) | ||
Fair value and other adjustments to borrowings and related derivatives | (73) | ||
Exchange translation differences | 36 | ||
At end of year | (4,886) | (4,843) | |
Related derivative financial instruments [member] | |||
Disclosure of Cash Flow Statement [line items] | |||
At start of year | (19) | ||
Decrease/(increase) in short-term bank loans, overdrafts and commercial paper | (4) | ||
Change in net borrowings resulting from cash flows | (4) | ||
Fair value and other adjustments to borrowings and related derivatives | 64 | ||
Exchange translation differences | 2 | ||
At end of year | £ 43 | £ (19) |
Acquisitions - Consideration Pa
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about business combination [abstract] | |||
Goodwill | £ 77 | £ 222 | £ 100 |
Intangible assets | 56 | 189 | 111 |
Property, plant and equipment | 1 | ||
Current assets | 3 | 12 | 9 |
Current liabilities | (16) | (20) | (23) |
Deferred tax | (2) | (35) | (19) |
Net assets acquired | 118 | 369 | 178 |
Consideration (after taking account of £7m (2016: £10m; 2015: £3m) net cash acquired) | 118 | 369 | 178 |
Less: consideration deferred to future years | (1) | (15) | (20) |
Less: acquisition date fair value of equity interest | (18) | ||
Net cash flow | £ 117 | £ 336 | £ 158 |
Acquisitions - Consideration116
Acquisitions - Consideration Paid for Acquiring Assets and Liabilities (Parenthetical) (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about business combination [abstract] | |||
Cash of acquired businesses at acquisition date | £ 7 | £ 10 | £ 3 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) £ in Millions | 12 Months Ended |
Dec. 31, 2017GBP (£) | |
Disclosure of detailed information about business combination [abstract] | |
Revenue contributed by business acquisition | £ 12 |
Increased adjusted operating profit | 2 |
Decreased net profit | 6 |
Net cash inflow from operating activities contributed by business acquisition | 0 |
Group revenue, pro forma basis | 7,368 |
Adjusted operating profit, pro forma basis | 2,288 |
Adjusted net profit, pro forma basis | £ 1,662 |
Equity Dividends - Ordinary Div
Equity Dividends - Ordinary Dividends Paid (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of Dividends [line items] | |||
Ordinary dividends paid | £ 762 | £ 683 | £ 583 |
RELX PLC [member] | |||
Disclosure of Dividends [line items] | |||
Ordinary dividends paid | 400 | 356 | 295 |
RELX NV [member] | |||
Disclosure of Dividends [line items] | |||
Ordinary dividends paid | £ 362 | £ 327 | £ 288 |
Equity Dividends - Additional I
Equity Dividends - Additional Information (Detail) | 12 Months Ended | |||||
Dec. 31, 2017GBP (£) | Dec. 31, 2017EUR (€) | Dec. 31, 2016GBP (£) | Dec. 31, 2016EUR (€) | Dec. 31, 2015GBP (£) | Dec. 31, 2015EUR (€) | |
RELX PLC [member] | ||||||
Disclosure of Dividends [line items] | ||||||
Final dividend | £ | £ 0.257 | £ 0.223 | £ 0.190 | |||
Interim dividend | £ | 0.1170 | 0.1025 | 0.0740 | |||
Total dividends | £ | 0.3740 | 0.3255 | 0.2640 | |||
Final dividend proposed | £ | 0.277 | 0.257 | 0.223 | |||
Dividend proposed | £ | £ 0.3940 | £ 0.3595 | £ 0.2970 | |||
RELX NV [member] | ||||||
Disclosure of Dividends [line items] | ||||||
Final dividend | € | € 0.301 | € 0.288 | € 0.285 | |||
Interim dividend | € | 0.132 | 0.122 | 0.115 | |||
Total dividends | € | 0.433 | 0.410 | 0.400 | |||
Final dividend proposed | € | 0.316 | 0.301 | 0.288 | |||
Dividend proposed | € | € 0.448 | € 0.423 | € 0.403 |
Goodwill - Summary of Key Assum
Goodwill - Summary of Key Assumptions and Sensitivities (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of reconciliation of changes in goodwill [abstract] | ||
Beginning Balance | £ 6,392 | £ 5,231 |
Acquisitions | 77 | 222 |
Disposals/reclassified as held for sale | (72) | (19) |
Transfers | 11 | |
Exchange translation differences | (443) | 958 |
Ending Balance | £ 5,965 | £ 6,392 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of reconciliation of changes in goodwill [abstract] | |||
Cumulative amortisation of goodwill charged prior to adoption of IFRS | £ 1,173,000,000 | £ 1,284,000,000 | |
Subsequent impairment charges recorded in prior years | 9,000,000 | 9,000,000 | |
Impairment of goodwill | £ 0 | £ 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. |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill by Segment (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | £ 5,965 | £ 6,392 | £ 5,231 |
Scientific, Technical & medical [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 1,479 | 1,549 | |
Risk & business analytics [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 2,595 | 2,829 | |
Legal [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 1,390 | 1,499 | |
Exhibitions [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | £ 501 | £ 515 |
Goodwill - Key Assumptions Used
Goodwill - Key Assumptions Used for Each Group of Cash Generating Units (Detail) | Dec. 31, 2017 | Dec. 31, 2016 |
Scientific, Technical & medical [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 10.10% | 10.00% |
Nominal long-term market growth rate | 3.00% | 3.00% |
Risk & business analytics [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 12.30% | 11.70% |
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 | 12.70% | 12.40% |
Nominal long-term market growth rate | 2.00% | 2.00% |
Exhibitions [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Pre-tax discount rate | 12.60% | 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, 2017 | Dec. 31, 2015 | Dec. 31, 2016 | |
Market and customer-related [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets - useful economic life | 3 years | ||
Market and customer-related [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets - useful economic life | 40 years | ||
Content, software and other [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Unallocated intangible assets acquired pre IFRS | £ 120 | £ 175 | |
Content, software and other [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets - useful economic life | 3 years | ||
Content, software and other [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets - useful economic life | 20 years | ||
Internally developed intangible assets [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets - useful economic life | 3 years | ||
Internally developed intangible assets [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets - useful economic life | 10 years | ||
Scientific, Technical & Medical [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible asset, net book value | £ 112 | £ 123 | |
Other intangible asset | £ 280 | ||
Updated useful economic life | 20 years |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | £ 3,604 | ||
Charge for the year | 203 | £ 189 | £ 157 |
Intangible assets other than goodwill at end of period | 3,194 | 3,604 | |
Cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 10,101 | 8,344 | |
Acquisitions | 56 | 189 | |
Additions | 304 | 280 | |
Disposals/reclassified as held for sale | (144) | (100) | |
Transfers | (23) | ||
Exchange translation differences | (592) | 1,388 | |
Intangible assets other than goodwill at end of period | 9,702 | 10,101 | 8,344 |
Accumulated amortisation [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 6,497 | 5,188 | |
Charge for the year | 516 | 531 | |
Disposals/reclassified as held for sale | (131) | (96) | |
Exchange translation differences | (374) | 874 | |
Intangible assets other than goodwill at end of period | 6,508 | 6,497 | 5,188 |
Market and customer-related [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 1,979 | ||
Intangible assets other than goodwill at end of period | 1,612 | 1,979 | |
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 | 3,872 | 3,158 | |
Acquisitions | 32 | 103 | |
Disposals/reclassified as held for sale | (26) | ||
Transfers | (50) | ||
Exchange translation differences | (309) | 611 | |
Intangible assets other than goodwill at end of period | 3,519 | 3,872 | 3,158 |
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 | 1,893 | 1,402 | |
Charge for the year | 188 | 204 | |
Disposals/reclassified as held for sale | (16) | ||
Exchange translation differences | (158) | 287 | |
Intangible assets other than goodwill at end of period | 1,907 | 1,893 | 1,402 |
Content, software and other [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 540 | ||
Intangible assets other than goodwill at end of period | 446 | 540 | |
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 | 3,679 | 3,133 | |
Acquisitions | 24 | 86 | |
Disposals/reclassified as held for sale | (76) | ||
Transfers | 27 | ||
Exchange translation differences | (162) | 460 | |
Intangible assets other than goodwill at end of period | 3,492 | 3,679 | 3,133 |
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 | 3,139 | 2,611 | |
Charge for the year | 125 | 138 | |
Disposals/reclassified as held for sale | (72) | ||
Exchange translation differences | (146) | 390 | |
Intangible assets other than goodwill at end of period | 3,046 | 3,139 | 2,611 |
Acquired intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 2,519 | ||
Intangible assets other than goodwill at end of period | 2,058 | 2,519 | |
Acquired intangible assets [member] | Cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 7,551 | 6,291 | |
Acquisitions | 56 | 189 | |
Disposals/reclassified as held for sale | (102) | ||
Transfers | (23) | ||
Exchange translation differences | (471) | 1,071 | |
Intangible assets other than goodwill at end of period | 7,011 | 7,551 | 6,291 |
Acquired intangible assets [member] | Accumulated amortisation [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 5,032 | 4,013 | |
Charge for the year | 313 | 342 | |
Disposals/reclassified as held for sale | (88) | ||
Exchange translation differences | (304) | 677 | |
Intangible assets other than goodwill at end of period | 4,953 | 5,032 | 4,013 |
Internally developed intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets other than goodwill at beginning of period | 1,085 | ||
Intangible assets other than goodwill at end of period | 1,136 | 1,085 | |
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 | 2,550 | 2,053 | |
Additions | 304 | 280 | |
Disposals/reclassified as held for sale | (42) | (100) | |
Exchange translation differences | (121) | 317 | |
Intangible assets other than goodwill at end of period | 2,691 | 2,550 | 2,053 |
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 | 1,465 | 1,175 | |
Charge for the year | 203 | 189 | |
Disposals/reclassified as held for sale | (43) | (96) | |
Exchange translation differences | (70) | 197 | |
Intangible assets other than goodwill at end of period | £ 1,555 | £ 1,465 | £ 1,175 |
Investments - Summary of Invest
Investments - Summary of Investments (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Investment [line items] | ||
Investments in joint ventures | £ 102 | £ 102 |
Investments [member] | ||
Investment [line items] | ||
Investments in joint ventures | 102 | 102 |
Available for sale investments | 2 | 2 |
Venture capital investments held for trading | 139 | 135 |
Total | £ 243 | £ 239 |
Investments - Summary of Analys
Investments - Summary of Analysis of Changes in Carrying Value of Investments in Joint Ventures (Detail) - Joint ventures [member] - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of analysis of changes in the carrying value of investments in joint ventures [line items] | ||
At start of year | £ 102 | £ 101 |
Share of results of joint ventures | 37 | 37 |
Dividends received from joint ventures | (38) | (44) |
Disposals and transfers | (7) | |
Additions | 2 | 1 |
Exchange translation differences | (1) | 14 |
At end of year | £ 102 | £ 102 |
Investments - Summary of Group'
Investments - Summary of Group's Share of Joint Ventures (Detail) - RELX Group's [member] - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of summary of group's share of joint ventures [line items] | ||
Revenue | £ 101 | £ 131 |
Net profit for the year | 37 | 37 |
Total assets | 85 | 92 |
Total liabilities | (42) | (49) |
Net assets | 43 | 43 |
Goodwill | 59 | 59 |
Total | £ 102 | £ 102 |
Property, Plant and Equipment -
Property, Plant and Equipment - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation | £ 69,000,000 | £ 68,000,000 | £ 71,000,000 |
Property, plant and equipment | 209,000,000 | 242,000,000 | |
Freeholds land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation | £ 0 | ||
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 leases [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 | 10 years | ||
Plant [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 20 years | ||
Plant [member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 3 years | ||
Office furniture, fixtures and fittings [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 10 years | ||
Office furniture, fixtures and fittings [member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 5 years | ||
Computer systems, communication networks and equipment [member] | Top of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 7 years | ||
Computer systems, communication networks and equipment [member] | Bottom of range [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment estimated useful lives | 3 years | ||
Freehold land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Depreciation | £ 0 | 0 | |
Property, plant and equipment | 14,000,000 | 16,000,000 | |
Fixtures and equipment under finance lease [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | £ 16,000,000 | £ 20,000,000 |
Property, Plant and Equipmen130
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | £ 242 | |
At end of year | 209 | £ 242 |
Net book amount | 209 | 242 |
Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 918 | 800 |
Acquisitions | 1 | |
Capital expenditure | 53 | 54 |
Disposals/reclassified as held for sale | (43) | (65) |
Exchange translation differences | (58) | 128 |
At end of year | 870 | 918 |
Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 676 | 571 |
Charge for the year | 69 | 68 |
Disposals/reclassified as held for sale | (40) | (57) |
Exchange translation differences | (44) | 94 |
At end of year | 661 | 676 |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Net book amount | 79 | 92 |
Land and buildings [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 231 | 205 |
Capital expenditure | 5 | 6 |
Disposals/reclassified as held for sale | (3) | (13) |
Exchange translation differences | (17) | 33 |
At end of year | 216 | 231 |
Land and buildings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 139 | 117 |
Charge for the year | 9 | 9 |
Disposals/reclassified as held for sale | (1) | (7) |
Exchange translation differences | (10) | 20 |
At end of year | 137 | 139 |
Fixtures and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Net book amount | 130 | 150 |
Fixtures and equipment [member] | Cost [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 687 | 595 |
Acquisitions | 1 | |
Capital expenditure | 48 | 48 |
Disposals/reclassified as held for sale | (40) | (52) |
Exchange translation differences | (41) | 95 |
At end of year | 654 | 687 |
Fixtures and equipment [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
At start of year | 537 | 454 |
Charge for the year | 60 | 59 |
Disposals/reclassified as held for sale | (39) | (50) |
Exchange translation differences | (34) | 74 |
At end of year | £ 524 | £ 537 |
Financial Instruments - Liquidi
Financial Instruments - Liquidity Risk - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | Dec. 31, 2017USD ($) | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Maximum maturity amount of short-term debt | £ 1,500,000,000 | ||
Committed bank facility | £ 1,479,000,000 | $ 2,000 | |
Committed bank facility maturity date | 2020-07 | ||
Committed bank facility maturity period | 2 years | ||
Undrawn committed bank facility [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Committed bank facility | £ 2,000,000,000 | ||
Committed bank facility maturity date | 2020-07 | ||
Financial liabilities at fair value, class [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Derivative instruments not designated as hedging instruments, at fair value | £ 12,000,000 | £ 30,000,000 | |
Swap counter parties [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Derivative financial liabilities cash collateral payments | 20,000,000 | 32,000,000 | |
Derivative financial liabilities cash collateral received | 0 | 4,000,000 | |
Financial assets at fair value, class [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Derivative instruments not designated as hedging instruments, at fair value | 0 | 4,000,000 | |
Fair value hedges [member] | Financial liabilities at fair value, class [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Derivative financial liabilities | 15,000,000 | 16,000,000 | |
Fair value hedges [member] | Financial assets at fair value, class [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Derivative financial assets | 81,000,000 | 22,000,000 | |
Cash flow hedges [member] | Financial liabilities at fair value, class [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Financial instruments designated as hedging instruments, at fair value | 30,000,000 | 153,000,000 | |
Cash flow hedges [member] | Financial assets at fair value, class [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Financial instruments designated as hedging instruments, at fair value | £ 14,000,000 | £ 15,000,000 | |
Bottom of range [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Minimum levels of maintained borrowing maturities | 3 years | ||
Top of range [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
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, 2017 | Dec. 31, 2016 | |
Fixed rate borrowings [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | £ (5,140) | £ (4,801) |
Fixed rate borrowings [member] | Within 1 year [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (336) | (479) |
Fixed rate borrowings [member] | 1-2 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (706) | (345) |
Fixed rate borrowings [member] | 2-3 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (577) | (733) |
Fixed rate borrowings [member] | 3-4 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (518) | (555) |
Fixed rate borrowings [member] | 4-5 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (805) | (72) |
Fixed rate borrowings [member] | More than 5 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (2,198) | (2,617) |
Fixed rate borrowings [member] | Carrying amount [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (4,417) | |
Fixed rate borrowings | (3,937) | |
Floating rate borrowings [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (469) | (910) |
Floating rate borrowings [member] | Within 1 year [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (464) | (822) |
Floating rate borrowings [member] | 1-2 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (2) | |
Floating rate borrowings [member] | 2-3 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (82) | |
Floating rate borrowings [member] | 3-4 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | 0 | |
Floating rate borrowings [member] | 4-5 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | 0 | |
Floating rate borrowings [member] | More than 5 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (5) | (4) |
Floating rate borrowings [member] | Carrying amount [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Contractual cash flow from borrowings | (469) | |
Floating rate borrowings | (906) | |
Contractual cash flow [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (5,633) | (5,964) |
Contractual cash flow [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (18) | (17) |
Derivative financial assets | 35 | 42 |
Contractual cash flow [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (870) | (949) |
Derivative financial assets | 828 | 803 |
Contractual cash flow [member] | Forward foreign exchange contracts [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (2,795) | (2,453) |
Derivative financial assets | 2,796 | 2,321 |
Contractual cash flow [member] | Within 1 year [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (809) | (1,373) |
Contractual cash flow [member] | Within 1 year [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (1) | 0 |
Derivative financial assets | 13 | 17 |
Contractual cash flow [member] | Within 1 year [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (258) | (21) |
Derivative financial assets | 246 | 9 |
Contractual cash flow [member] | Within 1 year [member] | Forward foreign exchange contracts [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (2,148) | (1,675) |
Derivative financial assets | 2,139 | 1,598 |
Contractual cash flow [member] | 1-2 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (702) | (402) |
Contractual cash flow [member] | 1-2 years [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (1) | 0 |
Derivative financial assets | 11 | 8 |
Contractual cash flow [member] | 1-2 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (17) | (252) |
Derivative financial assets | 7 | 234 |
Contractual cash flow [member] | 1-2 years [member] | Forward foreign exchange contracts [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (418) | (512) |
Derivative financial assets | 422 | 467 |
Contractual cash flow [member] | 2-3 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (575) | (829) |
Contractual cash flow [member] | 2-3 years [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (2) | (1) |
Derivative financial assets | 10 | 8 |
Contractual cash flow [member] | 2-3 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (18) | (18) |
Derivative financial assets | 7 | 7 |
Contractual cash flow [member] | 2-3 years [member] | Forward foreign exchange contracts [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (188) | (215) |
Derivative financial assets | 193 | 205 |
Contractual cash flow [member] | 3-4 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (529) | (561) |
Contractual cash flow [member] | 3-4 years [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (2) | (2) |
Derivative financial assets | 1 | 9 |
Contractual cash flow [member] | 3-4 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (18) | (20) |
Derivative financial assets | 7 | 7 |
Contractual cash flow [member] | 3-4 years [member] | Forward foreign exchange contracts [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (41) | (51) |
Derivative financial assets | 42 | 51 |
Contractual cash flow [member] | 4-5 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (820) | (87) |
Contractual cash flow [member] | 4-5 years [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (4) | (2) |
Contractual cash flow [member] | 4-5 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (18) | (20) |
Derivative financial assets | 7 | 7 |
Contractual cash flow [member] | More than 5 years [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (2,198) | (2,712) |
Contractual cash flow [member] | More than 5 years [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (8) | (12) |
Contractual cash flow [member] | More than 5 years [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (541) | (618) |
Derivative financial assets | 554 | 539 |
Contractual cash flow [member] | Carrying amount [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Total | (4,828) | (4,969) |
Contractual cash flow [member] | Carrying amount [member] | Interest rate derivatives [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (13) | (14) |
Derivative financial assets | 20 | 35 |
Contractual cash flow [member] | Carrying amount [member] | Cross-currency interest rate swaps [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (2) | (37) |
Derivative financial assets | 42 | 13 |
Contractual cash flow [member] | Carrying amount [member] | Forward foreign exchange contracts [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Cross-currency interest rate swaps | (42) | (144) |
Derivative financial assets | £ 53 | £ 21 |
Financial Instruments - Market
Financial Instruments - Market Risk - Additional Information (Detail) £ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017GBP (£) | Dec. 31, 2017USD ($) | Dec. 31, 2016GBP (£) | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Assumed weakening of foreign currencies | 10.00% | 10.00% | |
Decrease the carrying value of net assets, excluding net borrowings | £ 630 | £ 658 | |
Decrease in net borrowings | £ 448 | 389 | |
Assumed strengthening of foreign currencies | 10.00% | 10.00% | |
Increase the carrying value of net assets, excluding net borrowings | £ 630 | 658 | |
Increase net borrowings | £ 448 | 389 | |
Percentage of weakening of foreign currencies | 10.00% | 10.00% | |
Decrease in net profit | $ 148 | 105 | |
Percentage of strengthening of foreign currencies | 10.00% | 10.00% | |
Increase in net profit | $ 148 | 105 | |
Foreign currency exposure management [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Hedging of highly predictable future cash flows | 24 months | 24 months | |
Amount of outstanding foreign exchange cover against future transactions | £ 1,300 | 1,500 | |
Foreign currency exposure management [member] | Scientific, Technical & Medical subscription businesses [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Hedging of highly predictable future cash flows | 50 months | 50 months | |
Market risk [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Percentage of borrowings with either fixed interest rate or fixed through the use of interest rate swaps, forward rate agreements or options | 44.00% | 44.00% | |
Borrowings, interest rate basis | 100.00% | ||
Decrease in net finance costs | £ 26 | 25 | |
Increase in net finance costs | 26 | 25 | |
Increase in equity | 2 | 2 | |
Decrease in equity | £ 2 | £ 2 |
Financial Instruments - Credit
Financial Instruments - Credit Risk - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Cash and cash equivalents | £ 111 | £ 162 | £ 122 | £ 276 |
Up to one month[member] | ||||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Trade receivables | 220 | 187 | ||
Two to three months [member] | ||||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Trade receivables | 97 | 96 | ||
Four to six months [member] | ||||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Trade receivables | 44 | 45 | ||
Greater than six months [member] | ||||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Trade receivables | 40 | 31 | ||
Credit risk [member] | ||||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Derivative financial liabilities cash collateral payments | 0 | |||
Derivative financial liabilities | 0 | 5 | ||
Derivative financial liabilities cash collateral received | 4 | |||
Derivative financial assets | 2 | 0 | ||
Cash and cash equivalents | £ 111 | £ 162 | ||
Credit risk [member] | Banks rated A-/A3 [member] | ||||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||||
Percentage Of Bank Held Cash And Cash Equivalents | 90.00% | 94.00% |
Financial Instruments - Fair Va
Financial Instruments - Fair Value Hedges - Additional Information (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Interest rate derivatives principal amount | £ 2,021 | |
Fixed rate debt swapped to floating rate debt | £ 1,403 | |
Fair value hedge highly effective period | 3 years | |
Borrowings de-designated as being held at fair value | £ 24 | 30 |
Cash inflow from de-designation of derivatives previously held at fair value | 62 | |
Amortisation of fair value adjustments | 3 | 3 |
Derivative financial instruments | 32 | 85 |
Borrowings [member] | ||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | ||
Borrowings de-designated as being held at fair value | 2 | 6 |
Amortisation of fair value adjustments | 6 | 8 |
Derivative financial instruments | £ 2 | £ 8 |
Financial Instruments - Summ136
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | £ (1) | £ (1) | |
Fair value movement gain/(loss) | 1 | £ (1) | |
Ending balance | (1) | (1) | |
USD debt [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | 16 | 2 | 3 |
Fair value movement gain/(loss) | (1) | 13 | (2) |
De-Designated | (2) | ||
Exchange gain/(loss) | (1) | 1 | 1 |
Ending balance | 12 | 16 | 2 |
USD debt Related interest rate swaps [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | (16) | (2) | (3) |
Fair value movement gain/(loss) | 1 | (13) | 2 |
De-Designated | 2 | ||
Exchange gain/(loss) | 1 | (1) | (1) |
Ending balance | (12) | (16) | (2) |
GBP debt [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | (14) | (20) | |
Fair value movement gain/(loss) | 6 | ||
De-Designated | 14 | ||
Ending balance | (14) | ||
GBP debt related interest rate swaps [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | 14 | 20 | |
Fair value movement gain/(loss) | (6) | ||
De-Designated | (14) | ||
Ending balance | 14 | ||
EUR debt [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | (33) | (9) | (26) |
Fair value movement gain/(loss) | 17 | (21) | 15 |
Exchange gain/(loss) | (1) | (3) | 2 |
Ending balance | (17) | (33) | (9) |
EUR Debt related interest rate swaps [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | 32 | 8 | 26 |
Fair value movement gain/(loss) | (16) | 21 | (16) |
Exchange gain/(loss) | 1 | 3 | (2) |
Ending balance | 17 | 32 | 8 |
Total relating to USD, GBP, EUR and CHF debt [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | (17) | (21) | (43) |
Fair value movement gain/(loss) | 16 | (8) | 19 |
De-Designated | (2) | 14 | |
Exchange gain/(loss) | (2) | (2) | 3 |
Ending balance | (5) | (17) | (21) |
Total related interest rate swaps [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Beginning balance | 16 | 20 | 43 |
Fair value movement gain/(loss) | (15) | 8 | (20) |
De-Designated | 2 | (14) | |
Exchange gain/(loss) | 2 | 2 | (3) |
Ending balance | £ 5 | £ 16 | £ 20 |
Financial Instruments - Summ137
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Gain (Losses) arising during the period | £ 137 | £ (165) | £ (104) |
Amounts recognised in income statement | 25 | 46 | 29 |
Hedge reserve pre-tax [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Hedge reserve balance at the start of the period: gains/(losses) deferred | (161) | (38) | |
Gain (Losses) arising during the period | 137 | (165) | |
Amounts recognised in income statement | 25 | 46 | |
Exchange translation differences | (3) | (4) | |
Hedge reserve balance at the end of the period: gains/(losses) deferred | (2) | (161) | (38) |
Hedge reserve pre-tax [member] | Debt hedges [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Hedge reserve balance at the start of the period: gains/(losses) deferred | 8 | 6 | |
Gain (Losses) arising during the period | 63 | (26) | |
Amounts recognised in income statement | (65) | 27 | |
Exchange translation differences | (1) | 1 | |
Hedge reserve balance at the end of the period: gains/(losses) deferred | 5 | 8 | 6 |
Hedge reserve pre-tax [member] | Revenue hedges [member] | |||
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Hedge reserve balance at the start of the period: gains/(losses) deferred | (169) | (44) | |
Gain (Losses) arising during the period | 74 | (139) | |
Amounts recognised in income statement | 90 | 19 | |
Exchange translation differences | (2) | (5) | |
Hedge reserve balance at the end of the period: gains/(losses) deferred | £ (7) | £ (169) | £ (44) |
Financial Instruments - Cash Fl
Financial Instruments - Cash Flow Hedges - Additional Information (Detail) - Cash flow hedges [member] - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |||
Deferred income taxes and tax credits/charges | £ 1 | £ 28 | £ 8 |
Cash flow hedge gain (loss) recognised in revenue | 90 | 19 | 19 |
Cash flow hedge gain (loss) recognised in finance costs | 65 | 27 | 48 |
Tax credits in relation to cash flow hedges | £ 1 | £ 12 | £ 1 |
Financial Instruments - Summ139
Financial Instruments - Summary of Deferred Gains and Losses on Cash Flow Hedges Currently Expected to Recognised in Future Period (Detail) £ in Millions | 12 Months Ended |
Dec. 31, 2017GBP (£) | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | £ (2) |
Within 1 year [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (15) |
1-2 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (1) |
2-3 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | 8 |
3-4 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (1) |
4 years and beyond [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | 7 |
Debt hedges [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | 5 |
Debt hedges [member] | Within 1 year [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | 3 |
Debt hedges [member] | 1-2 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (1) |
Debt hedges [member] | 2-3 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (2) |
Debt hedges [member] | 3-4 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (2) |
Debt hedges [member] | 4 years and beyond [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | 7 |
Revenue hedges [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (7) |
Revenue hedges [member] | Within 1 year [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | (18) |
Revenue hedges [member] | 2-3 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | 10 |
Revenue hedges [member] | 3-4 years [member] | |
Disclosure of remaining contractual maturities for borrowings and derivative financial instruments [line item] | |
Gains/(losses) deferred in hedge reserve | £ 1 |
Inventories and Pre-publicat140
Inventories and Pre-publication Costs - Summary of Inventories and Pre-Publication Costs (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Information About Inventories Explanatory [Abstract] | ||
Raw materials | £ 2 | £ 2 |
Pre-publication costs | 157 | 152 |
Finished goods | 38 | 55 |
Total | £ 197 | £ 209 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Trade and other receivables [abstract] | |||
Trade receivables | £ 1,682 | £ 1,782 | |
Allowance for doubtful debts | (79) | (56) | £ (51) |
Trade receivables before prepayments and accrued income | 1,603 | 1,726 | |
Prepayments and accrued income | 219 | 230 | |
Total | £ 1,822 | £ 1,956 |
Trade and Other Receivables 142
Trade and Other Receivables - Summary of Movements in Provision for Allowances for Doubtful Debts (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Trade and other receivables [abstract] | ||
At start of year | £ 56 | £ 51 |
Charge for the year | 39 | 4 |
Trade receivables written off | (15) | (6) |
Exchange translation differences | (1) | 7 |
At end of year | £ 79 | £ 56 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Trade and other payables [abstract] | ||
Trade payables | £ 240 | £ 297 |
Accruals | 670 | 650 |
Social security and other taxes | 114 | 114 |
Other payables | 379 | 423 |
Deferred income | 1,834 | 1,941 |
Total | £ 3,237 | £ 3,425 |
Borrowings - Summary of types o
Borrowings - Summary of types of Borrowings both Current and Non-current (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about borrowings [line items] | ||
Total | £ 4,886 | £ 4,843 |
Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 464 | 521 |
Term debt, excluding fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,905 | 2,320 |
Finance Lease [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 10 | 14 |
Term debt, in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,069 | 1,399 |
Term debt, previously in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 438 | 589 |
Within 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 678 | 1,159 |
Within 1 year [member] | Short-term bank loans, overdrafts and commercial paper [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 464 | 521 |
Within 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 209 | 299 |
Within 1 year [member] | Finance Lease [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 5 | 5 |
Within 1 year [member] | Term debt, previously in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 334 | |
More than 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 4,208 | 3,684 |
More than 1 year [member] | Term debt, excluding fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,696 | 2,021 |
More than 1 year [member] | Finance Lease [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 5 | 9 |
More than 1 year [member] | Term debt, in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,069 | 1,399 |
More than 1 year [member] | Term debt, previously in fair value hedging relationships [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | £ 438 | £ 255 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) € in Millions, £ in Millions, SFr in Millions, $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2017GBP (£) | Dec. 31, 2016GBP (£) | Dec. 31, 2017EUR (€) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2016CHF (SFr) | |
Disclosure of detailed information about borrowings [line items] | |||||||
Total fair value of financial liabilities measured at amortised cost | £ 2,532 | £ 3,071 | |||||
Percentage ownership of a subsidiary | 100.00% | ||||||
Amount of committed bank facility | £ 1,479 | $ 2,000 | |||||
Committed bank facility maturity date | 2020-07 | ||||||
Term debt | £ 742 | 732 | € 600 | SFr 275 | € 600 | SFr 275 | |
Fair value of derivative financial instruments | 38 | 39 | |||||
Term debt, in fair value hedging relationships [member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Total fair value of term debt | 2,148 | 1,517 | |||||
Term debt, previously in fair value hedging relationships [member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Total fair value of term debt | £ 501 | £ 660 |
Borrowings - Summary of Repayme
Borrowings - Summary of Repayment Years for Borrowings (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 464 | £ 521 |
Term debt | 4,412 | 4,308 |
Finance Lease | 10 | 14 |
Total | 4,886 | 4,843 |
Within 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 464 | 521 |
Term debt | 209 | 633 |
Finance Lease | 5 | 5 |
Total | 678 | 1,159 |
1-2 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 593 | 219 |
Finance Lease | 3 | 4 |
Total | 596 | 223 |
2-3 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 508 | 700 |
Finance Lease | 2 | 3 |
Total | 510 | 703 |
3-4 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 444 | 496 |
Finance Lease | 2 | |
Total | 444 | 498 |
4-5 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 644 | |
Total | 644 | |
More than 5 years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 2,014 | 2,260 |
Total | 2,014 | 2,260 |
More than 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Term debt | 4,203 | 3,675 |
Finance Lease | 5 | 9 |
Total | £ 4,208 | £ 3,684 |
Borrowings - Analysis of Borrow
Borrowings - Analysis of Borrowings by Currency (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | £ 464 | £ 521 |
Term debt | 4,412 | 4,308 |
Finance Lease | 10 | 14 |
Total | 4,886 | 4,843 |
US dollars [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 103 | 13 |
Term debt | 2,058 | 2,274 |
Finance Lease | 10 | 14 |
Total | 2,171 | 2,301 |
Pounds Sterling [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 262 | 189 |
Term debt | 299 | 604 |
Total | 561 | 793 |
Euro [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 76 | 240 |
Term debt | 2,055 | 1,430 |
Total | 2,131 | 1,670 |
Other Currencies [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Short-term bank loans, overdrafts and commercial paper | 23 | 79 |
Total | £ 23 | £ 79 |
Lease Arrangements - Summary of
Lease Arrangements - Summary of Future Finance Lease Obligations (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Finance lease obligations | £ 10 | £ 14 |
Less: future finance charges | 0 | 0 |
Future finance lease obligations payable | 10 | 14 |
Total | 10 | 14 |
Within 1 year [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Finance lease obligations | 5 | 5 |
Future finance lease obligations payable | 5 | 5 |
Total | 5 | 5 |
In the second to fifth years inclusive [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Finance lease obligations | 5 | 9 |
Future finance lease obligations payable | £ 5 | £ 9 |
Lease Arrangements - Summary149
Lease Arrangements - Summary of Outstanding Commitments Under Non-cancellable Operating Leases (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating leases | £ 484 | £ 567 |
Within 1 year [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating leases | 109 | 114 |
In the second to fifth years inclusive [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating leases | 287 | 338 |
More than 5 years [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Operating leases | £ 88 | £ 115 |
Lease Arrangements - Additional
Lease Arrangements - Additional Information (Detail) - GBP (£) | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Outstanding commitments | £ 484,000,000 | £ 567,000,000 |
Land and buildings [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Outstanding commitments | £ 478,000,000 | £ 559,000,000 |
Lease Arrangements - Future Lea
Lease Arrangements - Future Lease Receivables Contracted With Sub-tenants (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of finance lease and operating lease by lessee [line items] | ||
Future lease receivables contracted with sub-tenants | £ 82 | £ 85 |
Within 1 year [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Future lease receivables contracted with sub-tenants | 21 | 17 |
In the second to fifth years inclusive [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Future lease receivables contracted with sub-tenants | 60 | £ 68 |
More than 5 years [member] | ||
Disclosure of finance lease and operating lease by lessee [line items] | ||
Future lease receivables contracted with sub-tenants | £ 1 |
Provisions - Summary of Changes
Provisions - Summary of Changes in Provisions (Detail) - GBP (£) £ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of provisions [line items] | ||
At start of year | £ 112 | |
Total | 81 | £ 112 |
Provisions [member] | ||
Disclosure of provisions [line items] | ||
At start of year | 112 | 121 |
Utilised | (24) | (24) |
Exchange translation differences | (7) | 15 |
Total | £ 81 | £ 112 |
Provisions - Summary of Provisi
Provisions - Summary of Provisions Included Within Current and Non-current Liabilities (Detail) - GBP (£) £ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of other provisions [abstract] | ||
Current liabilities | £ 19 | £ 23 |
Non-current liabilities | 62 | 89 |
Total | £ 81 | £ 112 |
Share Capital, Share Premium154
Share Capital, Share Premium and Shares Held in Treasury - Summary of Called up Share Capital Issued and Fully Paid (Detail) € in Millions, £ in Millions | 12 Months Ended | |||
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 end of year | 2,123.6 | 2,123.6 | ||
At start of year | £ | £ 226 | |||
At end of year | £ | £ 224 | £ 226 | ||
RELX PLC [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At start of period | 1,144,122,623 | 1,144,122,623 | 1,175,914,837 | 1,175,914,837 |
Issue of ordinary shares | 2,019,483 | 2,019,483 | 1,907,786 | 1,907,786 |
Cancellation of shares | (22,460,000) | (22,460,000) | (33,700,000) | (33,700,000) |
At end of year | 1,123,682,106 | 1,123,682,106 | 1,144,122,623 | 1,144,122,623 |
At start of year | £ | £ 165 | £ 170 | ||
Cancellation of shares | £ | (3) | (5) | ||
At end of year | £ | £ 162 | £ 165 | ||
RELX NV [member] | ||||
Disclosure of classes of share capital [line items] | ||||
At start of period | 1,019,893,404 | 1,019,893,404 | 1,048,162,690 | 1,048,162,690 |
Issue of ordinary shares | 2,067,694 | 2,067,694 | 1,730,714 | 1,730,714 |
Cancellation of shares | (22,000,000) | (22,000,000) | (30,000,000) | (30,000,000) |
At end of year | 999,961,098 | 999,961,098 | 1,019,893,404 | 1,019,893,404 |
At start of year | € | € 71 | € 73 | ||
Cancellation of shares | € | (1) | (2) | ||
At end of year | € | € 70 | € 71 |
Share Capital, Share Premium155
Share Capital, Share Premium and Shares Held in Treasury - Summary of Number of Ordinary Shares (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of classes of share capital [line items] | |||
At end of year | 2,123.6 | ||
Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
At end of year, treasury shares | (119,900,000) | ||
Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 2,042,700,000 | ||
At end of year | 2,003,700,000 | 2,042,700,000 | |
RELX PLC [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 1,144,122,623 | 1,175,914,837 | |
Issue of ordinary shares | 2,019,483 | 1,907,786 | |
Repurchase of ordinary shares | 0 | ||
Net release of shares by the Employee Benefit Trust | 0 | ||
Cancellation of shares | (22,460,000) | (33,700,000) | |
At end of year | 1,123,682,106 | 1,144,122,623 | 1,175,914,837 |
Repurchase of ordinary shares | 23,100,000 | 29,200,000 | 25,700,000 |
RELX PLC [member] | Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period, treasury shares | (63,600,000) | ||
Issue of treasury shares | 0 | ||
Repurchase of ordinary shares | (23,100,000) | ||
Net release of shares by the Employee Benefit Trust | 700,000 | ||
Cancellation of treasury shares | 22,500,000 | ||
At end of year, treasury shares | (63,500,000) | (63,600,000) | |
RELX PLC [member] | Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 1,080,500,000 | 1,106,600,000 | |
Issue of ordinary shares | 2,000,000 | 1,900,000 | |
Repurchase of ordinary shares | (23,100,000) | (29,200,000) | |
Net release of shares by the Employee Benefit Trust | 700,000 | 1,200,000 | |
At end of year | 1,060,100,000 | 1,080,500,000 | 1,106,600,000 |
RELX NV [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 1,019,893,404 | 1,048,162,690 | |
Issue of ordinary shares | 2,067,694 | 1,730,714 | |
Repurchase of ordinary shares | 0 | ||
Net release of shares by the Employee Benefit Trust | 0 | ||
Cancellation of shares | (22,000,000) | (30,000,000) | |
At end of year | 999,961,098 | 1,019,893,404 | 1,048,162,690 |
Repurchase of ordinary shares | 21,400,000 | 26,100,000 | 15,800,000 |
RELX NV [member] | Shares held in treasury [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period, treasury shares | (57,700,000) | ||
Issue of treasury shares | 0 | ||
Repurchase of ordinary shares | (21,400,000) | ||
Net release of shares by the Employee Benefit Trust | 700,000 | ||
Cancellation of treasury shares | 22,000,000 | ||
At end of year, treasury shares | (56,400,000) | (57,700,000) | |
RELX NV [member] | Share capital [member] | |||
Disclosure of classes of share capital [line items] | |||
At start of period | 962,200,000 | 985,300,000 | |
Issue of ordinary shares | 2,100,000 | 1,700,000 | |
Repurchase of ordinary shares | (21,400,000) | (26,100,000) | |
Net release of shares by the Employee Benefit Trust | 700,000 | 1,300,000 | |
At end of year | 943,600,000 | 962,200,000 | 985,300,000 |
Share Capital, Share Premium156
Share Capital, Share Premium and Shares Held in Treasury - Additional Information (Detail) | 1 Months Ended | 2 Months Ended | 12 Months Ended | |||
Dec. 31, 2017GBP (£)shares | Feb. 28, 2017shares | Dec. 31, 2017GBP (£)£ / sharesshares | Dec. 31, 2017GBP (£)€ / sharesshares | Dec. 31, 2016GBP (£)shares | Dec. 31, 2015GBP (£)shares | |
Disclosure of classes of share capital [line items] | ||||||
Consideration amount for repurchases of shares | £ | £ 700,000,000 | £ 700,000,000 | £ 500,000,000 | |||
Consideration amount for employee benefit trust shares purchased | £ | 39,000,000 | 29,000,000 | £ 23,000,000 | |||
Employee benefit trust shares purchase amount | £ | £ 82,000,000 | £ 82,000,000 | £ 82,000,000 | £ 81,000,000 | ||
RELX PLC [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 23,100,000 | 29,200,000 | 25,700,000 | |||
Average price paid per share repurchased | £ / shares | £ 16.04 | |||||
Employee benefit trust shares purchased | 1,200,000 | |||||
Shares held by the employee benefit trust | 3,493,817 | 3,493,817 | 3,493,817 | 4,229,442 | ||
Shares held in treasury | 60,077,786 | 60,077,786 | 60,077,786 | 59,415,287 | ||
Shares held by the employee benefit trust at cost | £ | £ 39,000,000 | £ 39,000,000 | £ 39,000,000 | £ 38,000,000 | ||
Cancellation of treasury shares | 22,500,000 | 33,700,000 | ||||
Non-discretionary share repurchase commitment | £ | £ 100,000,000 | |||||
RELX PLC [member] | Events After Reporting Period [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 3,300,000 | |||||
RELX NV [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 21,400,000 | 26,100,000 | 15,800,000 | |||
Average price paid per share repurchased | € / shares | £ 17.57 | |||||
Employee benefit trust shares purchased | 1,300,000 | |||||
Shares held by the employee benefit trust | 3,775,905 | 3,775,905 | 3,775,905 | 4,519,358 | ||
Shares held in treasury | 52,563,100 | 52,563,100 | 52,563,100 | 53,204,378 | ||
Shares held by the employee benefit trust at cost | £ | £ 43,000,000 | £ 43,000,000 | £ 43,000,000 | £ 43,000,000 | ||
Cancellation of treasury shares | 22,000,000 | 30,000,000 | ||||
RELX NV [member] | Events After Reporting Period [Member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Repurchase of ordinary shares | 2,900,000 | |||||
RELX PLC and RELX NV [member] | ||||||
Disclosure of classes of share capital [line items] | ||||||
Authorised amount for Share repurchase | £ | £ 100,000,000 |
Other Reserves - Summary of Oth
Other Reserves - Summary of Other Reserves (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of other reserves [line ltems] | |||
Profit attributable to RELX PLC and RELX NV shareholders | £ 1,659 | £ 1,161 | £ 1,008 |
Dividends paid | (772) | (692) | (591) |
Tax recognised in other comprehensive income | (89) | 64 | (16) |
Increase in share based remuneration reserve (net of tax) | 42 | 44 | 47 |
Hedge reserve [Member] | |||
Disclosure of other reserves [line ltems] | |||
At start of year | (133) | ||
Fair value movements on cash flow hedges | 137 | ||
Transfer to net profit from cash flow hedge reserve | 25 | ||
Tax recognised in other comprehensive income | (30) | ||
Exchange translation differences | (2) | ||
At end of year | (3) | (133) | |
Other Reserves [Member] | |||
Disclosure of other reserves [line ltems] | |||
At start of year | (32) | ||
Profit attributable to RELX PLC and RELX NV shareholders | 1,659 | ||
Dividends paid | (762) | ||
Actuarial gains /(losses) on defined benefit pension schemes | 233 | ||
Tax recognised in other comprehensive income | (59) | ||
Increase in share based remuneration reserve (net of tax) | 42 | ||
Cancellation of shares | (566) | ||
Settlement of share awards | (37) | ||
Exchange translation differences | 12 | ||
At end of year | 490 | (32) | |
Other reserves [member] | |||
Disclosure of other reserves [line ltems] | |||
At start of year | (165) | 341 | |
Profit attributable to RELX PLC and RELX NV shareholders | 1,659 | 1,161 | |
Dividends paid | (762) | (683) | (583) |
Actuarial gains /(losses) on defined benefit pension schemes | 233 | (262) | |
Fair value movements on cash flow hedges | 137 | (165) | |
Transfer to net profit from cash flow hedge reserve | 25 | 46 | |
Tax recognised in other comprehensive income | (89) | 64 | |
Increase in share based remuneration reserve (net of tax) | 42 | 44 | 47 |
Cancellation of shares | (566) | (707) | (265) |
Settlement of share awards | (37) | (39) | (49) |
Exchange translation differences | 10 | 35 | |
At end of year | £ 487 | £ (165) | £ 341 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - GBP (£) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [line items] | |||
Termination benefits | £ 2,460 | £ 0 | £ 0 |
Loans, advances or guarantees on behalf of directors | 0 | 0 | 0 |
Aggregate gains made by executive directors | 2,804,358 | 3,082,715 | 1,474,715 |
Joint ventures where entity is venturer [member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from sale of goods, related party transactions | 16,000,000 | 2,000,000 | 0 |
Revenue from rendering of services, related party transactions | 100,000 | 0 | 14,000,000 |
Amounts receivable, related party transactions | £ 2,000,000 | £ 0 | £ 1,000,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Key Management Personnel Remuneration (Detail) - GBP (£) £ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [abstract] | |||
Salaries, other short-term employee benefits and non-executive fees | £ 5 | £ 5 | £ 5 |
Post-employment benefits | 1 | 1 | 1 |
Share based remuneration | 6 | 5 | 5 |
Total | £ 12 | £ 11 | £ 11 |
Related Party Transactions -160
Related Party Transactions - Summary of Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [abstract] | |||
Executive directors salary | £ 1,889 | £ 1,843 | £ 1,797 |
Executive directors benefits | 101 | 88 | 92 |
Executive directors annual incentive | 1,964 | 1,881 | 1,889 |
Executive directors cost of share based remuneration | 5,549 | 5,409 | 5,181 |
Executive directors cost of pension provision | 983 | 1,052 | 966 |
Total executive directors | £ 10,486 | £ 10,273 | £ 9,925 |
Related Party Transactions -161
Related Party Transactions - Summary of Non-Executive Directors Remuneration (Detail) - GBP (£) £ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [abstract] | |||
Fees and benefits | £ 1,396 | £ 1,364 | £ 1,145 |
Exchange Rates - Summary of Exc
Exchange Rates - Summary of Exchange Rates in Preparing Consolidated Statements (Detail) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Euro to sterling [member] | Income statement [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Average foreign exchange rate | 1.14 | 1.22 | 1.38 |
Euro to sterling [member] | Statement of financial position [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Closing foreign exchange rate | 1.12 | 1.17 | |
US dollars to sterling [member] | Income statement [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Average foreign exchange rate | 1.29 | 1.36 | 1.53 |
US dollars to sterling [member] | Statement of financial position [member] | |||
Disclosure of foreign exchange rates [line items] | |||
Closing foreign exchange rate | 1.35 | 1.23 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Major business combination [member] - ThreatMetrix [member] £ in Millions | Jan. 29, 2018GBP (£) |
Disclosure of non-adjusting events after reporting period [line items] | |
Percentage of voting equity interests acquired | 100.00% |
Acquired value | £ 580 |
Related undertakings - Summary
Related undertakings - Summary of Full list of Related Parties - Australia to Italy (Detail) | 12 Months Ended |
Dec. 31, 2017£ / shares | |
Australia [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Fitness Show Pty Ltd |
Percentage of undertaking | 8000.00% |
Reg Office | Fordham Business Advisors Pty Ltd, Rialto South Tower Level 35, 525 Collins Street, Melbourne, Vic, 3000 |
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 | 10000.00% |
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 | 10000.00% |
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 | 4900.00% |
Reg Office | Grant Thornton, Level 17, 393 Kent St, Sydney, NSW 2000, Australia |
Australia [member] | First 4 Farming Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | First 4 Farming Australia Pty Ltd |
Percentage of undertaking | 10000.00% |
Reg Office | Building B, Level 2, Unit 11, 1 Maitland Place, Baulkham Hills NSW 2153,Australia |
Australia [member] | LexisNexis Risk Solutions Assets Australia Pty Ltd [member] | Ordinary and Redeemable Preference [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions Assets Australia Pty Ltd |
Percentage of undertaking | 10000.00% |
Reg Office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | LexisNexis Risk Solutions Australia Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions Australia Pty Ltd |
Percentage of undertaking | 10000.00% |
Reg Office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | LexisNexis Risk Solutions Unit Trust [member] | Share Class Units [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions Unit Trust |
Percentage of undertaking | 10000.00% |
Reg Office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
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 | 10000.00% |
Reg Office | Level 10, 10 Help Street, Chatswood NSW 2067, Australia |
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 | 10000.00% |
Reg Office | ‘Tower 2’ Level 10, 475 Victoria Avenue, Chatswood NSW 2067 |
Australia [member] | Reed Oz Comic-Con Pty Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Oz Comic-Con Pty Limited (80%) |
Percentage of undertaking | 8000.00% |
Reg Office | Level 10, 10 Help Street, Chatswood NSW 2067, Australia |
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 | 10000.00% |
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 | 10000.00% |
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 | 10000.00% |
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 | 10000.00% |
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 | 10000.00% |
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 | 10000.00% |
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 | 10000.00% |
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 | 10000.00% |
Reg Office | Am Messezentrum 6, 5020, Salzburg, Austria |
Austria [member] | System StandBau GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | System StandBau GmbH |
Percentage of undertaking | 10000.00% |
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 | 10000.00% |
Reg Office | Grotesteenweg-Zuid 39, 9052 Gent, Belgium |
Belgium [member] | First 4 Farming Europe NV [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | First 4 Farming Europe NV |
Percentage of undertaking | 10000.00% |
Reg Office | Leernseteenweg 128 Box E, 9800 Deinze, Belgium |
Belgium [member] | First 4 Farming Europe NV [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | First 4 Farming Europe NV |
Percentage of undertaking | 10000.00% |
Reg Office | Leernseteenweg 128 Box E, 9800 Deinze, Belgium |
Brazil [member] | Elsevier Editora Ltda [member] | Quotas [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Editora Ltda |
Percentage of undertaking | 10000.00% |
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 [member] | Elsevier Participacoes Ltda [member] | Quotas [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Participacoes Ltda |
Percentage of undertaking | 10000.00% |
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 [member] | Fircosoft Brazil Consultoria e Servicos de Informatica Ltda [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | FircoSoft Brazil Consultoria e Servicos de Informatica Ltda |
Percentage of undertaking | 10000.00% |
Reg Office | Sao Paulo, State of Sao Paulo, at Rua Bela Cintra, nº 1.200, 8th floor, CEP 01415-002 |
Brazil [member] | LexisNexis Informaes 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 | 10000.00% |
Reg Office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
Brazil [member] | LexisNexis Servios de Anlise de Risco Ltda. [member] | Quotas shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Serviços de Análise de Risco Ltda |
Percentage of undertaking | 10000.00% |
Reg Office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
Brazil [member] | MLex Brasil Midia Mercadologica Ltda [member] | Quotas [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | MLex Brasil Midia Mercadologica Ltda |
Percentage of undertaking | 10000.00% |
Reg Office | Avenida paulista, 2300-Piso Pilotis room 28, Sao Paulo, Sao Paulo 01310-300 |
Brazil [member] | Reed Exhibitions Alcntara Machado Ltda. [member] | Quotas shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions Alcântara Machado Ltda |
Percentage of undertaking | 10000.00% |
Reg Office | Rua Bela Cintra no. 1200, 10th floor, Sâo Paulo, 01415-001, Brazil |
Canada [member] | LexisNexis Canada Inc. [member] | Class A non voting Ordinary Shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Canada Inc |
Percentage of undertaking | 10000.00% |
Reg Office | 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada |
Canada [member] | LexisNexis Canada Inc. [member] | Class B voting Ordinary Shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Canada Inc |
Percentage of undertaking | 10000.00% |
Reg Office | 123 Commerce Valley Drive East, Suite 700, Markham, Ontario, L3T 7W8, Canada |
Canada [member] | Reed Exhibitions Inc. [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions Inc |
Percentage of undertaking | 10000.00% |
Reg Office | 905 King Street West, 4TH Floor, Toronto, Ontario, Canada M6K 3G9 |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
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 | 10000.00% |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
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 | 10000.00% |
Reg Office | 555 RIichmond Street West, Toronto, Ontario, Canada, M5V 3B1 |
Chile [member] | Encyclopdie Mdico-Chirurgicale Chile Limitada [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Encyclopédie Médico-Chirurgicale Chile Limitada |
Percentage of undertaking | 100.00% |
Reg Office | Serrano 172, Santiago, Chile |
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] | 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] | 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 | 100.00% |
Reg Office | Room A 100 of Room 0307, Floor 3, Building 3, 7 Middle Dongsanhuan road, Chaoyang District, Beijing |
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 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 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 Exhibitions Co., Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Huaqun Exhibitions Co., Ltd |
Percentage of undertaking | 52.00% |
Reg Office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [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 | Intercontinental Center, 42F, 100 Yutong Road, Zhabei District, Shanghai, 200070, China |
China [member] | Reed Sinopharm Exhibitions Co. Ltd. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Sinopharm Exhibitions Co., Ltd |
Percentage of undertaking | 50.00% |
Reg Office | Ping An International Finance Center, Room 1504, 15th Floor, Tower A-101, 3-24 floor, Xinyuan South Road, Chaoyang District, Beijing, 100027, China |
China [member] | RELX (China) Investment Co., Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX (China) Investment Co., Ltd |
Percentage of undertaking | 100.00% |
Reg Office | Room 319, 238 Jiangchangsan Road, Jing’an District, Shanghai, China |
China [member] | Shanghai CBI Business Development Co. Ltd [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Shanghai CBI Business Development Co., Ltd |
Percentage of undertaking | 100.00% |
Reg Office | Room 702-2, 200 Huiyuan Road, Jiading Industrial Area, Shanghai |
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 |
Percentage of undertaking | 100.00% |
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 |
Percentage of undertaking | 27.50% |
Reg Office | Building 2, Room No. 3895, Changjiang Avenue, No. 161, Changliang Farm, Chongming County, Shanghai Municipality |
Colombia [member] | LexisNexis Risk Solutions S.A.S. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions S.A.S. |
Percentage of undertaking | 100.00% |
Reg Office | Philippe Prietocarrizosa & Uria Abogados, Carrera 9 No. 74-08 Oficina 105, Bogotá, d.c., 76600, Colombia |
Denmark [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier A/S |
Percentage of undertaking | 100.00% |
Reg Office | Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark |
Denmark [member] | Reed Elsevier Denmark ApS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Elsevier Denmark ApS |
Percentage of undertaking | 100.00% |
Reg Office | Niels Jernes Vej 10, 9220, Aalborg Øst, Denmark |
Dubai [member] | Reed Exhibitions Free Zone-LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions Free Zone-LLC |
Percentage of undertaking | 100.00% |
Reg Office | Office No. 328, Building 02, third floor, P.O. Box 502425, Dubai, United Arab Emirates |
Dubai [member] | RELX Middle East FZ-LLC [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Middle East FZ-LLC |
Percentage of undertaking | 100.00% |
Reg Office | Al Sufouh Complex, Floor 3, No. 304, Dubai, United Arab Emirates |
Egypt [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Egypt LLC |
Percentage of undertaking | 100.00% |
Reg Office | Land Mark Office Building, 2nd Floor, 90th Street, City Center, 5th Settlement, New Cairo, Cairo, Egypt |
France [member] | Elsevier Holding France SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Holding France SAS |
Percentage of undertaking | 100.00% |
Reg Office | 65, rue Camille 92130, Issy les Moulineaux, France |
France [member] | Elsevier Masson SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Masson SAS |
Percentage of undertaking | 100.00% |
Reg Office | 65, rue Camille Desmoulins, 92130, Issy les Moulineaux, France |
France [member] | Evoluprint SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Evoluprint SAS |
Percentage of undertaking | 100.00% |
Reg Office | Parc Euronord – 10, rue du Parc – 31150 Bruguieres |
France [member] | Fircosoft SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Fircosoft SAS |
Percentage of undertaking | 100.00% |
Reg Office | 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 |
Percentage of undertaking | 100.00% |
Reg Office | 141 rue de Javel, 75015 Paris |
France [member] | Gie Juris-Data [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Gie Juris-Data |
Percentage of undertaking | 100.00% |
Reg Office | 141 rue de Javel, 75015 Paris |
France [member] | GIE PRK - Publicite Robert Krier [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | GIE PRK - Publicite Robert Krier |
Percentage of undertaking | 100.00% |
Reg Office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | LexisNexis Business Information Solutions [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Business Information Solutions |
Percentage of undertaking | 100.00% |
Reg Office | 141 rue de Javel, 75015 Paris |
France [member] | LexisNexis Business Information Solutions Holding [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Business Information Solutions Holding |
Percentage of undertaking | 100.00% |
Reg Office | Immeuble « Technopolis », 350 rue Georges Besse –Nîmes (30000) |
France [member] | LexisNexis International Development Services [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis International Development Services |
Percentage of undertaking | 100.00% |
Reg Office | 141 rue de Javel, 75015 Paris |
France [member] | LexisNexis SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis SA |
Percentage of undertaking | 100.00% |
Reg Office | 141 rue de Javel, 75015 Paris |
France [member] | Reed Exhibitions ISG SARL [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions ISG SARL |
Percentage of undertaking | 100.00% |
Reg Office | 27 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | Reed Expositions France SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Expositions France SAS |
Percentage of undertaking | 100.00% |
Reg Office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | Reed Midem SAS [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Midem SAS |
Percentage of undertaking | 100.00% |
Reg Office | 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | Reed Organisation SAS [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Organisation SAS |
Percentage of undertaking | 100.00% |
Reg Office | 52 Quai de Dion Bouton 92800 Puteaux |
France [member] | RELX France S.A. [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX France S.A. |
Percentage of undertaking | 100.00% |
Reg Office | 27-33 quai Alphonse Le Gallo, 92100, Boulogne-Billancourt, France |
France [member] | SAFI SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | SAFI SA |
Percentage of undertaking | 100.00% |
Reg Office | 6-8 Rue Chaptal, 75009 Paris |
Germany [member] | Collexis GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Collexis GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany |
Germany [member] | Elsevier GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier GmbH |
Percentage of undertaking | 100.00% |
Reg Office | 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 |
Percentage of undertaking | 100.00% |
Reg Office | Theodor-Heuss-Allee 108, D-60488, Frankfurt am Main, Hesse, Germany |
Germany [member] | LexisNexis GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Heerdter Sandberg 30, 40549, Dusseldorf, Germany |
Germany [member] | MedCongress GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | MedCongress GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Volklinger Strasse 4, 40219, Dusseldorf, Germany |
Germany [member] | REC Publications GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | REC Publications GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Volklinger Strasse 4, 40219, Dusseldorf, 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 |
Percentage of undertaking | 100.00% |
Reg Office | Volklinger Strasse 4, 40219, Dusseldorf, Germany |
Germany [member] | Reed Exhibitions Deutschland GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions Deutschland GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Volklinger Strasse 4, 40219, Dusseldorf, Germany |
Germany [member] | Reed Exhibitions Holdings GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions Holdings GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Volklinger Strasse 4, 40219, Dusseldorf, Germany |
Germany [member] | Reed Travel (Germany) GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Travel (Germany) GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Schwannstr. 6, 40476 Dusseldorf |
Germany [member] | RELX Deutschland GmbH [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Deutschland GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Volklinger Strasse 4, 40219, Dusseldorf, Germany |
Germany [member] | Tschach Solutions GmbH [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Tschach Solutions GmbH |
Percentage of undertaking | 100.00% |
Reg Office | Steinhauserstrasse 9, 76135 , Karlsruhe, Germany |
Hong kong [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Business Information (China) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | Level 28, Building 8, 3 Pacific Place, 1 Queens Road East, HONG KONG, Hong Kong |
Hong kong [member] | Ascend China Holding Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend China Holding Limited |
Percentage of undertaking | 100.00% |
Reg Office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Hong kong [member] | CBI Group Co. Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | CBI Group Co. Ltd |
Percentage of undertaking | 20.00% |
Reg Office | Unit 204 2/F, Malaysia Bldg., 50 Gloucester Rd, Wanchai, Hong Kong |
Hong kong [member] | JC Exhibition and Promotion Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | JC Exhibition and Promotion Limited |
Percentage of undertaking | 65.00% |
Reg Office | 20/F Alexandra House, 18 Chater Road, Central, Hong Kong |
Hong kong [member] | JYLN Sager Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | JYLN Sager Limited |
Percentage of undertaking | 40.00% |
Reg Office | Flat 2, 19/F Henan Building 90-92, Jaffe Road Wanchai, Hong Kong, Hong Kong |
Hong kong [member] | MLex Asia Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | MLex Asia Ltd |
Percentage of undertaking | 91.00% |
Reg Office | 703 Silvercord, Tower 2, 30 Canton Road, Tsimshatsui, Kowloon, Hong Kong |
Hong kong [member] | Reed Exhibitions Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions Limited |
Percentage of undertaking | 100.00% |
Reg Office | Flat 2, 19/F Henan Building 90-92, Jaffe Road Wanchai, Hong Kong, Hong Kong |
Hong kong [member] | RELX (Greater China) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX (Greater China) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 3901, 39th Floor Hopewell Center, 183 Queens Road East, Wanchai, Hong Kong, Hong Kong |
India [member] | B I Churchill Living Stone Pvt Ltd [member] | Equity shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | B I Churchill Living Stone Pvt Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India |
India [member] | Comic Con India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Comic Con India Private Limited |
Percentage of undertaking | 36.00% |
Reg Office | B9/5 Vasant Vihar, New Delhi, 110057, India |
India [member] | FircoSoft India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | FircoSoft India Private Ltd |
Percentage of undertaking | 100.00% |
Reg Office | n°664 Level 6 – Chennai Regus – Citi Centre – 10/11 Dr Radhakrishnan Salai, Mylapore – Chennai 600004 |
India [member] | Harcourt (India) Pvt Ltd [member] | Equity shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Harcourt (India) Pvt Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 818, 8th Floor, Indraprakash Builing, 21 Barakhamba Road, New Delhi, 110001, India |
India [member] | Reed Elsevier Publishing (India) Pvt. Ltd. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Elsevier Publishing (India) Pvt. Ltd. |
Percentage of undertaking | 100.00% |
Reg Office | 18, Kotla Lane, Rouse Avenue, New Delhi, 110002, India |
India [member] | Reed Manch Exhibitions Private Ltd (70%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Manch Exhibitions Private Limited |
Percentage of undertaking | 70.00% |
Reg Office | B-15/192, Pharma Apartments, Patparganj, , I.P. Extension, New Delhi, 110092, India |
India [member] | Reed SI Exhibitions Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed SI Exhibitions Private Limited |
Percentage of undertaking | 51.00% |
Reg Office | B-9, “A” Block, LSC, Naraina Vihar, Ring Road, New Delhi, 110028, India |
India [member] | Reed Triune Exhibitions Private Ltd (72%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Triune Exhibitions Private Limited |
Percentage of undertaking | 72.00% |
Reg Office | #25, 3rd floor, 8th Main Road, Vasanthnager, Bangalore, 560052, India |
India [member] | RELX India Private Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX India Private Limited |
Percentage of undertaking | 100.00% |
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 |
Ireland [member] | Armanatta Holding Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Armanatta Holding Limited |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
Ireland [member] | Butterworth (Ireland) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Butterworth (Ireland) Limited |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
Ireland [member] | Elsevier Services Ireland Limited [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Services Ireland Limited |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
Ireland [member] | I.W.P.M. (Holdings) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | I.W.P.M. (Holdings) Limited |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
Ireland [member] | I.W.P.M. (Holdings) Ltd [member] | 6% cumulative shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | I.W.P.M. (Holdings) Limited |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
Dividend per share | £ 0.06 |
Ireland [member] | I.W.P.M. (Holdings) Ltd [member] | Deferred ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | I.W.P.M. (Holdings) Limited |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
Ireland [member] | LexisNexis Risk Solutions (Ireland) Ltd [member] | 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 | #N/A |
Ireland [member] | LexisNexis Risk Solutions (Europe) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions (Europe) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | #N/A |
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 S.R.L. |
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 S.R.L . |
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 - Summa165
Related undertakings - Summary of Full list of Related Parties - Japan to United Kingdom (Detail) | 12 Months Ended |
Dec. 31, 2017£ / shares | |
United Kingdom [member] | Offshore Europe (Management) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Offshore Europe (Management) Limited |
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] | OPG One Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | OPG 1 Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, 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 Limited |
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 Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RE (IDM) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (IDM) LIMITED |
Percentage of undertaking | 100.00% |
United Kingdom [member] | RE (IDM) Ltd [member] | Cumulative redeemable preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (IDM) LIMITED |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | RE (IDM) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (IDM) LIMITED |
Percentage of undertaking | 100.00% |
United Kingdom [member] | RE (SEG) Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (SEG) Limited |
Percentage of undertaking | 100.00% |
Reg Office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | RE (SEG) Ltd [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (SEG) Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | RE (SEG) Ltd [member] | Preferred Ordinary [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (SEG) Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | RE (SEL) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE (SEL) Limited |
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) Limited |
Percentage of undertaking | 100.00% |
Reg Office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | RE Directors (No.1) Ltd [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) Ltd [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] | RE Secretaries Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RE Secretaries Limited |
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 Limited |
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 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 Limited |
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) Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Reed Elsevier Pension Investment Management Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Elsevier Pension Investment Management Limited |
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 Limited |
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 Limited |
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 Limited |
Percentage of undertaking | 100.00% |
Reg Office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Reed Healthcare Communications Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Healthcare Communications Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Reed Midem Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Midem Limited |
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 Limited |
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 Limited |
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 Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Accuity Solutions Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Accuity Solutions Ltd |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Accuity Solutions UK Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Accuity Solutions UK Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Adaptris Group Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Adaptris Group Limited |
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 Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Ascend Holdings Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend Holdings Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Ascend Worldwide Group Holdings Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend Worldwide Group Holdings Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Ascend Worldwide Group Holdings Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend Worldwide Group Holdings Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Ascend Worldwide Group Holdings Ltd [member] | Class C ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend Worldwide Group Holdings Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Ascend Worldwide Group Holdings Ltd [member] | Class D ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend Worldwide Group Holdings Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Ascend Worldwide Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ascend Worldwide Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Avenue Exhibitions Ltd [member] | Non-voting, ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Avenue Exhibitions Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Axxia Systems Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Axxia Systems Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Axxia Systems Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Axxia Systems Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Berrows Pension Trustees Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Berrows Pension Trustees Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Bluegrill Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Bluegrill Limited |
Percentage of undertaking | 100.00% |
Reg Office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Bradfield Brett Holdings Ltd [member] | Seven point five preferred income shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Bradfield Brett Holdings Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
Dividend per share | £ 0.075 |
United Kingdom [member] | Bradfield, Brett and Company Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Bradfield, Brett & Company Limited |
Percentage of undertaking | 100.00% |
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) Limited |
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) Limited |
Percentage of undertaking | 100.00% |
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) Limited |
Percentage of undertaking | 100.00% |
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) Limited |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
Dividend per share | £ 0.045 |
United Kingdom [member] | Butterworths Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Butterworths Limited |
Percentage of undertaking | 100.00% |
Reg Office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | Cordery Compliance Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Cordery Compliance Limited |
Percentage of undertaking | 72.00% |
Reg Office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | Cordery Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Cordery Limited |
Percentage of undertaking | 72.00% |
Reg Office | Lexis House, 30 Farringdon Street, London, EC4A 4HH, United Kingdom |
United Kingdom [member] | Crediva Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Crediva Limited |
Percentage of undertaking | 100.00% |
Reg Office | Global Reach, Dunleavy Drive, Cardiff, CF11 0SN, United Kingdom |
United Kingdom [member] | DBT Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | DBT Limited |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Dew Events Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Dew Events Limited |
Percentage of undertaking | 100.00% |
Reg Office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, United Kingdom |
United Kingdom [member] | Drayton Legal Recoveries Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Drayton Legal Recoveries Limited |
Percentage of undertaking | 100.00% |
Reg Office | Gateway House 28 The Quadrant, Richmond, Surrey, TW9 1DN, 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 Limited |
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] | Everyform Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Everyform Limited |
Percentage of undertaking | 100.00% |
Reg Office | c/o RELX (UK) Limited, Butterworths Limited, 4 Hill Street, Edinburgh, EH2 3JZ, Scotland |
United Kingdom [member] | Everyform Ltd [member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Everyform Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Everyform Ltd [member] | Class C ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Everyform Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Everyform Ltd [member] | Class D ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Everyform Limited |
Percentage of undertaking | 100.00% |
United Kingdom [member] | Fircosoft Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Fircosoft Ltd |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | First four farming Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | First 4 Farming Ltd |
Percentage of undertaking | 100.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Formpart (EPL) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Formpart (EPL) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Formpart (EPS) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Formpart (EPS) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Formpart (MDL) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Formpart (MDL) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Formpart (PDL) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Formpart (PDL) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Formpart (SFL) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Formpart (SFL) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Gamermania Ltd [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 Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of undertaking | 100.00% |
United Kingdom [member] | George Philip Holdings Ltd [member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of undertaking | 100.00% |
United Kingdom [member] | George Philip Holdings Ltd [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of undertaking | 100.00% |
United Kingdom [member] | George Philip Holdings Ltd [member] | Cumulative 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] | George Philip Holdings Ltd [member] | Redeemable cumulative preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of undertaking | 100.00% |
United Kingdom [member] | RELX (Holdings) Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX (Holdings) Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX (Investments) plc [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX (Investments) plc |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | RELX (UK) Holdings Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX (UK) Holdings Ltd |
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% |
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 Group plc [member] | Class R Ordinary Shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Group plc |
Percentage of undertaking | 100.00% |
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] | RELX Overseas Holdings Ltd [Member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Percentage of undertaking | 100.00% |
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] | Rowan Marketing Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Rowan Marketing Ltd (50%) |
Percentage of undertaking | 50.00% |
Reg Office | Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS, United Kingdom |
United Kingdom [member] | Scripta Technica Ltd [Member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Scripta Technica Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Scripta Technica Ltd [Member] | Class B ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Scripta Technica Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Scripta Technica Ltd [Member] | Cumulative Preference Shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Scripta Technica Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Sharpwise Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Sharpwise Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | The Lancet Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | The Lancet Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | The Medicine Publishing Company Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | The Medicine Publishing Company Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | The Medicine Publishing Group Ltd [Member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | The Medicine Publishing Group Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | The Viscom Group Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | The Viscom Group Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 1-3 Strand, London, WC2N 5JR, United Kingdom |
United Kingdom [member] | Tolley Publishing Company Ltd [Member] | Class A ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Tolley Publishing Company 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 |
Japan [member] | 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 [member] | 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 [member] | 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 [member] | 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 [member] | 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 |
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 Limited |
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 Limited |
Percentage of undertaking | 70.00% |
Reg Office | “Room 4401, Trade Tower, 159-1, Samseong-dong, Gangnam-gu Seoul, 135-729, Republic of Korea” |
Luxembourg [member] | Fircosoft luxembourg sarl [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | FIRCOSOFT Luxembourg Sarl |
Percentage of undertaking | 100.00% |
Reg Office | Bloc B 19-21, Route d’Arlon, L-8009 Strassen, Luxembourg |
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. |
Malaysia [member] | TJ Ventures Sdn Bhd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | TJ Ventures Sdn Bhd |
Percentage of undertaking | 100.00% |
Reg Office | 6th Floor, Akademi Etiqa, No. 23 Jalan Melaka, 50100 Kuala Lumpur, Malaysia. |
Mexico. | Masson-Doyma Mexico, S.A. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Masson-Doyma Mexico, S.A. |
Percentage of undertaking | 100.00% |
Reg Office | Insurgentes Sur # 1388 Piso 8, Col. Actipan, Deleg. Benito Juarez, C.P. 03230 Ciudad 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 |
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 Limited |
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 fifty percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Sunaidi Exhibitions |
Percentage of undertaking | 50.00% |
Reg Office | Al Fadl Commercial Center, Jeddah, 21411, Saudi Arabia |
Singapore [member] | 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 [member] | 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 [member] | ICIS Investment Singapore Pte Ltd [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | ICIS Investment Singapore Pte Ltd |
Percentage of undertaking | 100.00% |
Reg Office | 80 Robinson Road, #02-00, Singapore, 068898, Singapore |
Singapore [member] | Lexis-Nexis Philippines Pte Ltd seventy five percentage [member] | Preference shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Lexis-Nexis Philippines Pte Limited |
Percentage of undertaking | 75.00% |
Reg Office | 80 Robinson Road, #02-00, Singapore, 068898, Singapore |
Singapore [member] | 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 [member] | 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 [member] | 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 [member] | 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 |
South Africa [member] | Fircosoft South Africa (Pty) Ltd [member] | 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] | LegalPerfect Software Solutions (Pty) Ltd ninety percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LegalPerfect Software Solutions (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 | 215 Peter Mokaba Road (North Ridge Road), Morningside, Durban, Kwa-Zulu Natal, 4001, South Africa |
South Africa [member] | LexisNexis (Pty) Ltd (90%) [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis (Pty) Ltd |
Percentage of undertaking | 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] | Property Payment Exchange (SA) (Pty) Ltd ("Pexsa") ninety percentage [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Property Payment Exchange (SA) (Pty) Limited ("Pexsa") |
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] | 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] | 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 Exhibitions (Pty) Ltd ninety percentage [member] | Class A sharesl [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Exhibitions (Pty) Limited |
Percentage of undertaking | 90.00% |
Reg Office | Thebe House, 2nd Floor, 166 Jan Smuts Avenue, Rosebank, Johannesburg, 2196, South Africa |
South Africa [member] | Reed Management Pty Ltd [member] | Class A sharesl [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed 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] | Thebe Reed Venue Management (Pty) Ltd [member] | Class A sharesl [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Venue Management (Pty) Limited |
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 |
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 intellectual properties SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Intellectual Properties SA |
Percentage of undertaking | 100.00% |
Reg Office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Switzerland [member] | RELX risks SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Risks SA |
Percentage of undertaking | 100.00% |
Reg Office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Switzerland [member] | RELX Swiss holdings SA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Swiss Holdings SA |
Percentage of undertaking | 100.00% |
Reg Office | Espace de L’Europe 3, 2002 Neuchatel, Switzerland |
Taiwan [member] | Elsevier Taiwan LLC [member] | Registered capital [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Taiwan LLC |
Percentage of undertaking | 100.00% |
Reg Office | Suite N-818, 8/F, Chia Hsin Cement Building, 96 Zhong Shan North Road, Section 2, Taipei, 10449, Taiwan |
Thailand [member] | 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 Limited |
Percentage of undertaking | 49.00% |
Reg Office | Sathorn Nakorn Building, Floor 32, No. 100/68-69 North Sathon Road, Silom, Bangrak, Bangkok, 10500, Thailand |
Netherlands [member] | AGRM Solutions C.V. [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | AGRM Solutions C.V. |
Percentage of undertaking | 100.00% |
Reg Office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | Elsevier B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier B.V. |
Percentage of undertaking | 100.00% |
Reg Office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | Elsevier Employment Services B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Elsevier Employment Services B.V. |
Percentage of undertaking | 100.00% |
Reg Office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | LexisNexis Business Information Solutions B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Business Information Solutions B.V. |
Percentage of undertaking | 100.00% |
Reg Office | Radarweg 29, 1043 NX Amsterdam, Netherlands |
Netherlands [member] | LexisNexis Univentio B.V. [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Univentio B.V. |
Percentage of undertaking | 100.00% |
Reg Office | Galileiweg 8, 2333 BD Leiden, Netherlands |
Netherlands [member] | 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 |
Turkey [member] | 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 ?irketi |
Percentage of undertaking | 100.00% |
Reg Office | Maslak Mah. Bilim Sokak Sun Plaza Kat:13 Şişli-Maslak, Istanbul, Turkey |
Turkey [member] | Reed Tyap 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.?. |
Percentage of undertaking | 50.00% |
Reg Office | Tuyap Fuar ve Kongre Merkezi, E – 5 Karayolu Üzeri, Gürpınar Kavşağı 34500, Büyükçekmece, Istanbul, 34500, Turkey |
Related undertakings - Summa166
Related undertakings - Summary of Full list of Related Parties - United States to Venezuela (Detail) | 12 Months Ended |
Dec. 31, 2017 | |
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 |
United States [member] | Ravel Law Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ravel Law Inc |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [member] | Re (CMDGC) Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Re (CMDGC) Inc |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [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 |
United States [member] | Reed Westminster Cares Inc [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Reed Westminster Cares Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
United States [member] | RELX Capital Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX Capital Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
United States [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 |
United States [member] | RELX US Holdings Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | RELX US Holdings Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [member] | REV IV Partnership LP [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | REV IV Partnership LP |
Percentage of undertaking | 100.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
United States [member] | Ronald G Segel Memorial Scholarship Fund Inc [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Ronald G. Segel Memorial Scholarship Fund Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [member] | tClara LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | tClara LLC |
Percentage of undertaking | 51.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
United States [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 |
United States [member] | The Michie Company [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | The Michie Company |
Percentage of undertaking | 100.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 |
United States [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 (50%) |
Percentage of undertaking | 50.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [member] | Globalrange Corporation [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Globalrange Corporation |
Percentage of undertaking | 100.00% |
Reg Office | 3355 West Alabama Street, Houston, TX 77098 |
United States [member] | Gold Standard Inc [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Gold Standard, Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [member] | IDGRBI China Publishers LLC fifty percentage [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 |
United States [member] | Informed Decisions LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Informed Decisions, LLC |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [member] | Innovata LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Innovata, LLC |
Percentage of undertaking | 100.00% |
Reg Office | 3355 West Alabama Street, Houston, TX 77098 |
United States [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 |
United States [member] | Internet-Journals, LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Internet-Journals, LLC |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [member] | J Allan Sheehan Scholarship Fund Inc [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | J.Allan Sheehan Scholarship Fund Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [member] | Lex Machina Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Lex Machina Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [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 |
United States [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 | Puerta Del Condado #1095, Wilson Ave, Local #3, San Juan, PR 00907 |
United States [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 |
United States [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 |
United States [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 |
United States [member] | LexisNexis Risk Solutions Bureau LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions Bureau LLC |
Percentage of undertaking | 100.00% |
Reg Office | 1000 Alderman Dr., Alpharetta, GA 30005 |
United States [member] | LexisNexis Risk Solutions FL Inc [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | LexisNexis Risk Solutions FL Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1000 Alderman Dr., Alpharetta, GA 30005 |
United States [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 |
United States [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 |
United States [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 |
United States [member] | Managed Technology Services LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Managed Technology Services LLC (51%) |
Percentage of undertaking | 51.00% |
Reg Office | 1209 Orange Street, Wilmington, DE 19801 |
United States [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 |
United States [member] | MLex US Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | MLex US, Inc. (91%) |
Percentage of undertaking | 91.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [member] | MWW Clinical Sales Force Inc Fifty Percentage [Member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | MWW Clinical Sales Force, Inc. (50%) |
Percentage of undertaking | 50.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [member] | Nexis Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Nexis, Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
United States [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 |
United States [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 |
United States [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 |
United States [member] | Accuity Europe Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Accuity Europe Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1007 Church Street, Evanston IL 60201 |
United States [member] | Accuity Holdings Inc [member] | Common stock and preferred stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Accuity Holdings Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1007 Church Street, Evanston IL 60201 |
United States [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 |
United States [member] | CLUE Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | C.L.U.E. Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1000 Alderman Dr., Alpharetta, GA 30005 |
United States [member] | Charles Jones LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Charles Jones LLC |
Percentage of undertaking | 100.00% |
Reg Office | 1000 Alderman Dr., Alpharetta, GA 30005 |
United States [member] | De Pluimen LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | De Pluimen LLC |
Percentage of undertaking | 100.00% |
Reg Office | 230 Park Ave, New York, NY 10169 |
United States [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 |
United States [member] | Diio LLC [member] | Membership Interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Diio LLC |
Percentage of undertaking | 100.00% |
Reg Office | 3355 West Alabama Street, Houston, TX 77098 |
United States [member] | DunlapHanna Publishers Fifty Percentage [member] | Partnership interest [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Dunlap-Hanna Publishers (50%) |
Percentage of undertaking | 50.00% |
Reg Office | 313 Washington Street, Suite 400, Newton, MA 02458 |
United States [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 |
United States [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 |
United States [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 |
United States [member] | Enclarity Inc [member] | Common Stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Enclarity, Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1000 Alderman Dr., Alpharetta, GA 30005 |
United States [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 |
United States [member] | Fire Solutions Inc [member] | Common stock and preferred stock [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Fire Solutions Inc. |
Percentage of undertaking | 100.00% |
Reg Office | 1105 North Market St, Wilmington, DE 19801 |
Venezuela [member] | Encyclopedie Medico Chirurgicale Venezuela CA [member] | Ordinary shares [member] | |
Disclosure of transactions between related parties [line items] | |
Company Name | Encyclopédie Médico-Chirurgicale Venezuela C.A. |
Percentage of undertaking | 100.00% |
Reg Office | Avenida Banca, Torre BOD, Piso 21, La Castellana, Estado Miranda, Caracas, Venezuela |