Segment Information
 12 Months Ended
Dec. 31, 2021
Text block [abstract]  
Segment Information
Note 4: Segment Information 
The Company is organized as five reportable segments, reflecting how the businesses are managed. The accounting policies applied by the segments are the same as those applied by the Company. The segments offer products and services to target customers as described below.
Legal Professionals
The Legal Professionals segment serves law firms and governments with research and workflow products, focusing on intuitive legal research powered by emerging technologies and integrated legal workflow solutions that combine content, tools and analytics.
Corporates
The Corporates segment serves corporate customers from small businesses to multinational organizations, including the seven largest global accounting firms, with the Company’s full suite of content-enabled technology solutions for
in-house
legal, tax, regulatory, compliance and IT professionals.
Tax & Accounting Professionals
The Tax & Accounting Professionals segment serves tax, accounting and audit professionals in accounting firms (other than the seven largest, which are served by the Corporates segment) with research and workflow products, focusing on intuitive tax offerings and automating tax workflows.
Reuters News
The Reuters News segment supplies business, financial, and global news to the world’s media organizations, professionals and news consumers through Reuters News Agency, Reuters.com, Reuters Events, Thomson Reuters products and the Refinitiv business of LSEG.
Global Print
The Global Print segment provides legal and tax information primarily in print format to customers around the world.
The Company also reports “Corporate costs”, which includes expenses for corporate functions and the
Change Program which are centrally managed, and does not qualify as a reportable segment.

 
 
   
Year ended December 31,
  
     
    
                2021
    
                            2020
  
Revenues
 
 
 
 
 
 
 
 
Legal Professionals
 
 
2,712
 
 
 
 2,535
 
Corporates
 
 
1,449
 
 
 
 1,367
 
Tax & Accounting Professionals
 
 
906
 
 
 
 836
 
Reuters News
 
 
674
 
 
 
 628
 
Global Print
 
 
609
 
 
 
 620
 
Eliminations/Rounding
 
 
(2)
 
 
 
(2)
 
Revenues
 
 
6,348
 
 
 
5,984
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
 
 
 
Legal Professionals
 
 
1,091
 
 
 
 1,001
 
Corporates
 
 
502
 
 
 
 460
 
Tax & Accounting Professionals
 
 
373
 
 
 
 330
 
Reuters News
 
 
103
 
 
 
 73
 
Global Print
 
 
226
 
 
 
 242
 
Total reportable segments adjusted EBITDA
 
 
2,295
 
 
 
 2,106
 
Corporate costs
 
 
(325)
 
 
 
 (131)
 
Fair value adjustments (see note 5)
 
 
8
 
 
 
 10
 
Depreciation
 
 
(177)
 
 
 
 (184)
 
Amortization of computer software
 
 
(474)
 
 
 
 (485)
 
Amortization of other identifiable intangible assets
 
 
(119)
 
 
 
 (123)
 
Other operating gains, net
 
 
34
 
 
 
736
 
Operating profit
 
 
1,242
 
 
 
 1,929
 
Net interest expense
 
 
(196)
 
 
 
 (195)
 
Other finance income
 
 
8
 
 
 
 30
 
Share of
post-tax
earnings (losses) in equity method investments
 
 
6,240
 
 
 
 (544)
 
Tax expense
 
 
(1,607)
 
 
 
(71)
 
Earnings from continuing operations
 
 
5,687
 
 
 
1,149
 
 
 
  
 
Additions to Capital Assets
(1)
and Goodwill
 
 
   
   
December 31,
  
 
  
 
                2021
 
                         2020  
Legal Professionals
 
 
206
 
 
 
 382
 
Corporates
 
 
118
 
 
 
 119
 
Tax & Accounting Professionals
 
 
90
 
 
 
 100
 
Reuters News
 
 
28
 
 
 
 28
 
Global Print
 
 
8
 
 
 
22
 
Reportable segments
 
 
450
 
 
 
 651
 
Corporate assets
 
 
186
 
 
 
52
 
Total
 
 
636
 
 
 
703
 
(1) Capital assets include property and equipment, computer software and other identifiable intangible assets.

 
 
Geographic Information
  
 
Non-Current Assets
(1)
 
   
December 31,
  
 
  
 
                2021
 
  
 
                            2020
 
U.S.
 
 
12,717
 
 
 
 7,209
 
Canada (country of domicile)
 
 
1,047
 
 
 
 1,034
 
Other
 
 
174
 
 
 
 191
 
Americas (North America, Latin America, South America)
 
 
13,938
 
 
 
 8,434
 
U.K.
 
 
1,454
 
 
 
 1,544
 
Other
 
 
1,951
 
 
 
 1,930
 
EMEA (Europe, Middle East and Africa)
 
 
3,405
 
 
 
 3,474
 
Asia Pacific
 
 
125
 
 
 
 126
 
Total
 
 
17,468
 
 
 
12,034
 
(1)
Non-current
assets are primarily comprised of property and equipment, computer software, other identifiable intangible assets, goodwill and investments in equity method investees.
In accordance with IFRS 8,
Operating Segments
, the Company discloses certain information about its reportable segments based upon measures used by management in assessing the performance of those reportable segments. These measures are defined below and may not be comparable to similar measures of other companies.
Segment Adjusted EBITDA
 
·
 
 
Segment adjusted EBITDA represents earnings from continuing operations before tax expense or benefit, net interest expense, other finance costs or income, depreciation, amortization of software and other identifiable intangible assets, the Company’s share of
post-tax
earnings or losses in equity method investments, other operating gains and losses, certain asset impairment charges, fair value adjustments, and corporate related items.
 
·
 
 
The Company does not consider these excluded items to be controllable operating activities for purposes of assessing the current performance of the reportable segments.
 
·
 
 
Each segment includes an allocation of costs, based on usage or other applicable measures, for centralized support services such as technology, customer service, commercial policy, facilities management, and product and content development. Additionally, product costs are allocated when one segment sells products managed by another segment.
Revenues by Classes of Similar Products or Services
The following table sets forth revenues by major type:
 
   
Year ended December 31,
  
     
    
                2021
    
                            2020
  
Electronic, software & services
 
 
5,739
 
 
 
 5,364
 
Global Print
 
 
609
 
 
 
 620
 
Total
 
 
6,348
 
 
 
5,984