2016 Annual Report

Total Page:16

File Type:pdf, Size:1020Kb

2016 Annual Report Annual Report 2016 March 9, 2017 Thomson Reuters Annual Report 2016 Information in this annual report is provided as of March 1, 2017, unless otherwise indicated. Certain statements in this annual report are forward-looking. These forward-looking statements are based on certain assumptions and reflect our current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations are discussed in the “Risk Factors” section of this annual report as well as in materials that we from time to time file with, or furnish to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of the date of this annual report. Except as may be required by applicable law, we disclaim any intention or obligation to update or revise any forward-looking statements. The following terms in this annual report have the following meanings, unless otherwise indicated: Š “Thomson Reuters,” “we,” “us” and “our” each refers to Thomson Reuters Corporation and its consolidated subsidiaries, unless the context otherwise requires; Š “Woodbridge” refers to The Woodbridge Company Limited and other companies affiliated with it; and Š “$,” “US$” or “dollars” are to U.S. dollars. When we refer to our performance before the impact of foreign currency (or at “constant currency”), we mean that we apply the same foreign currency exchange rates for the current and equivalent prior period. We believe this provides the best basis to measure the performance of our business as it removes distortion from the effects of foreign currency movements during the period. Non-International Financial Reporting Standards (IFRS) financial measures are defined and reconciled to the most directly comparable IFRS measures in the “Management’s Discussion and Analysis” section of this annual report. For information regarding our disclosure requirements under applicable Canadian and U.S. laws and regulations, please see the “Cross Reference Tables” section of this annual report. Information contained on our website or any other websites identified in this annual report is not part of this annual report. All website addresses listed in this annual report are intended to be inactive, textual references only. The Thomson Reuters logo and our other trademarks, trade names and service names mentioned in this annual report are the property of Thomson Reuters. Thomson Reuters Annual Report 2016 Table of Contents Business ............................................................................................ 2 Overview ............................................................................................ 2 Financial & Risk ...................................................................................... 7 Legal ............................................................................................... 10 Tax & Accounting ..................................................................................... 12 Global Growth Organization ............................................................................ 13 Reuters ............................................................................................. 13 Additional Business Information ......................................................................... 14 Risk Factors ......................................................................................... 18 Management’s Discussion and Analysis ................................................................... 29 Consolidated Financial Statements ...................................................................... 88 Executive Officers and Directors ......................................................................... 153 Executive Officers ..................................................................................... 153 Other Executive Committee Members .................................................................... 153 Directors ............................................................................................ 156 Audit Committee ..................................................................................... 159 Principal Accountant Fees and Services ................................................................... 160 Controlled Company .................................................................................. 161 Independent Directors ................................................................................. 161 Presiding Directors at Meetings of Non-Management and Independent Directors ................................. 162 Code of Business Conduct and Ethics ..................................................................... 163 Additional Disclosures ................................................................................. 163 Additional Information ................................................................................ 164 Description of Capital Structure ......................................................................... 164 Market for Securities ................................................................................... 165 Dividends ........................................................................................... 166 Woodbridge ......................................................................................... 167 Transfer Agents and Registrars .......................................................................... 168 Ratings of Debt Securities .............................................................................. 168 Material Contracts .................................................................................... 169 Principal Subsidiaries .................................................................................. 171 Interests of Experts .................................................................................... 172 Further Information and Disclosures ...................................................................... 173 Cross Reference Tables ................................................................................ 175 Annual Information Form (Form 51-102F2) Cross Reference Table ............................................. 175 Form 40-F Cross Reference Table ........................................................................ 176 Page 1 Thomson Reuters Annual Report 2016 Business Overview Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. We are a Canadian company with shares listed on the Toronto Stock Exchange and New York Stock Exchange (symbol: TRI). Our website is www.thomsonreuters.com. We are organized in three business units supported by a corporate center: Financial & Risk A leading provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals. Financial & Risk also provides leading regulatory and operational risk management solutions. Legal A leading provider of critical online and print information, decision tools, software and services that support legal, investigation, business and government professionals around the world. Tax & Accounting A leading provider of integrated tax compliance and accounting information, software and services for professionals in accounting firms, corporations, law firms and government. We also operate: Š Reuters, a leading provider of real-time, high-impact, multimedia news and information services to newspapers, television and cable networks, radio stations and websites around the globe. Š A Global Growth Organization (GGO) that works across our business units to combine our global capabilities and expand our local presence and development in countries and regions where we believe the greatest growth opportunities exist. GGO supports our businesses in Latin America, China, India, the Middle East, Africa, the Association of Southeast Asian Nations, North Asia, Russia and countries comprising the Commonwealth of Independent States and Turkey. Š An Enterprise Technology & Operations (ET&O) group which drives the transformation of our company into a more integrated enterprise by unifying infrastructure across our organization, including technology platforms, data centers, real estate, products and services. In October 2016, we sold our Intellectual Property & Science business for gross proceeds of $3.55 billion. Intellectual Property & Science was classified as a discontinued operation for 2016 reporting purposes through the closing date of the sale. The business was subsequently renamed Clarivate Analytics. Page 2 Thomson Reuters Annual Report 2016 Business Model and Key Operating Characteristics We derive the majority of our revenues from selling electronic content and services to professionals, primarily on a subscription basis. Our businesses provide solutions, software and workflow tools which integrate our core data and information. The table below describes some of our
Recommended publications
  • Annual Report 2007
    The Thomson Corporation Annual Report 2007 2 To Our Shareholders 64 Financial Statements and Notes 6 I am 110 Board of Directors 18 Thomson 2007 Financial Highlights 112 Senior Management 24 Management’s Discussion and Analysis 113 Corporate Information We are like you. At Thomson, our success depends on being trusted, on staying ahead, on having the answers others need in order to succeed. We are certain we have what it takes, because we have put the right model at the center of our design. You, the professional. The Thomson Corporation is a leading provider of critical information, decision support tools and related services to professionals in the legal, financial, tax and accounting, scientific and healthcare sectors. Thomson integrates its unique proprietary databases with third party data, software and analytical tools to create essential workflow solutions for business and professional clients around the world. We provide information platforms and services to support faster, better decisions that are more informed, more considered and more immediate. We have fashioned our solutions to provide the most relevant and trusted data instantly – intelligent information that helps you put your knowledge to work. This book is a tribute to you and our thanks for the trust you place in us. 1 To Our Shareholders: 2007 was a milestone year for The Thomson Corporation. The company’s name was in the headlines more often than perhaps at any other time in its history. On a Friday in May we announced our agreement to sell Thomson Learning, and on the following Tuesday we announced an agreement to buy Reuters Group PLC for nearly $18 billion.* The sale of our Thomson Learning assets for more than $8 billion was a resounding success.
    [Show full text]
  • 6Th Annual M&A Skills Boot Camp
    Taught by over 25 leading M&A practitioners using a multi-issue acquisition case study 6th Annual M&A Skills Boot Camp This unique program will help develop mastery of essential M&A skills, while providing a comprehensive overview of a M&A transaction. Topics include: • Understanding the interests and objectives of your client DATES & TIME • Project management essentials for running the deal April 17 - 18, 2013 • Ethics in a transaction 8:30 a.m. - 5:30 p.m. EDT/EST • Identifying confl icts of interest LOCATION • Knowing how to use and how to draft preliminary deal agreements Osgoode Professional • Use of due diligence information in negotiating the deal Development Centre • Confi dentiality agreements and letters of intent 1 Dundas St. W., 26th Floor • The forms a transaction can take and how they differ Toronto, ON • Factors to consider when structuring the deal, including tax and securities issues • Anticipating timing issues, negotiation challenges and logistical diffi culties • Strategies for handling corporate governance and regulatory issues Webcast • Emerging regulatory issues and risks Available • Managing risk in international transactions • Protecting your client with adequate representations, warranties and indemnities • Structuring and planning issues in international deals • Emerging trends in today’s deal market re: remedies and indemnifi cation • Strategies for handling closing and post-closing logistics and disputes Course Leader David A. Seville, Torys LLP Public CLE Seminars Customized CLE Programs Skills Training & Certifi cation ITAW Professional LLM Register now at www.osgoodepd.ca 6th Annual M&A Skills Boot Camp Why this program is an n order to complete an acquisition in today’s M&A market, lawyers need a clear understanding of the essential building block client’s business goals, and how to structure and negotiate a deal which meets those goals.
    [Show full text]
  • The Thomson Corporation
    THE THOMSON CORPORATION Annual Information Form For the Year Ended December 31, 2005 March 1, 2006 TABLE OF CONTENTS Page 1. FORWARD-LOOKING STATEMENTS 2 2. CORPORATE STRUCTURE 3 3. GENERAL DEVELOPMENT OF THE BUSINESS 4 4. DESCRIPTION OF THE BUSINESS 5 5. DIVIDENDS 33 6. DESCRIPTION OF CAPITAL STRUCTURE 35 7. MARKET FOR SECURITIES 37 8. DIRECTORS AND OFFICERS 39 9. LEGAL PROCEEDINGS 46 10. TRANSFER AGENT AND REGISTRARS 46 11. INTERESTS OF EXPERTS 47 12. ADDITIONAL INFORMATION 47 SCHEDULE A – AUDIT COMMITTEE CHARTER A-1 In this annual information form, “Thomson,” “we,” “us” and “our” each refers to The Thomson Corporation and its consolidated subsidiaries unless the context requires otherwise. Unless the context requires otherwise, references in this annual information form to “$,” “US$” or “dollars” are to United States (U.S.) dollars. References in this annual information to “C$” are to Canadian dollars. In 2005, the average daily exchange rate was US$1.00 = C$1.21. Information contained on our website or any other websites identified in this annual information form is not part of this annual information form. All website addresses listed in this annual information form are intended to be inactive, textual references only. The Thomson logo and other trademarks, trade names and service names of our company and our subsidiaries mentioned in this annual information form are the property of our company and our subsidiaries. 1 1. FORWARD-LOOKING STATEMENTS Certain statements included in this annual information form constitute forward-looking statements. When used in this annual information form, the words “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “will,” “may” and “should” and similar expressions, as they relate to us or our management, are intended to identify forward-looking statements.
    [Show full text]
  • Thomson Reuters Corporation Thomson Reuters
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2008 Commission File Number: 1-31349 Commission File Number: 333-08354 THOMSON REUTERS THOMSON CORPORATION REUTERS PLC (Translation of registrant’s name into English) (Translation of registrant’s name into English) 3 Times Square New York, New York 10036, United States (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Thomson Reuters Corporation: Form 20-F o Form 40-F ☑ Thomson Reuters PLC: Form 20-F ☑ Form 40-F o Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes o No ☑ If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- . The information contained in Exhibit 99.1 of this Form 6-K is incorporated by reference into, or as an additional exhibit to, as applicable, the registration statements on Form F-9 (No.
    [Show full text]
  • Thomson Reuters Annual Report 2015
    Annual Report 2015 March 8, 2016 Thomson Reuters Annual Report 2015 Information in this annual report is provided as of March 3, 2016, unless otherwise indicated. Certain statements in this annual report are forward-looking. These forward-looking statements are based on certain assumptions and reflect our current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations are discussed in the “Risk Factors” section of this annual report as well as in materials that we from time to time file with, or furnish to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of the date of this annual report. Except as may be required by applicable law, we disclaim any intention or obligation to update or revise any forward-looking statements. The following terms in this annual report have the following meanings, unless otherwise indicated: Š “Thomson Reuters,” “we,” “us” and “our” each refers to Thomson Reuters Corporation and its consolidated subsidiaries, unless the context otherwise requires; Š “Woodbridge” refers to The Woodbridge Company Limited and other companies affiliated with it; and Š “$,” “US$” or “dollars” are to U.S. dollars. When we refer to our performance before the impact of foreign currency (or at “constant currency”), we mean that we apply the same foreign currency exchange rates for the current and equivalent prior period.
    [Show full text]
  • History[Edit]
    Thomson Reuters Corporation (/ˈrɔɪtərz/) is a major multinational mass media and information firm founded in Toronto and based in New York City.[4] It was created by the Thomson Corporation's purchase of British-based Reuters Group on 17 April 2008,[5] and today is majority owned by The Woodbridge Company, a holding company for the Thomson family.[6] The company operates in more than 100 countries, and has more than 60,000 employees around the world.[3] Thomson Reuters was ranked as Canada's "leading corporate brand" in the 2010Interbrand Best Canadian Brands ranking.[7] It is headquartered at 3 Times Square, Manhattan, New York City. Contents [hide] 1 History o 1.1 The Thomson Corporation o 1.2 Reuters Group o 1.3 Post-acquisition 2 Operations 3 Market position and antitrust review 4 Purchase process 5 Acquisitions 6 Sponsorships 7 See also 8 References 9 Further reading 10 External links History[edit] The Thomson Corporation[edit] Main article: The Thomson Corporation The company was founded by Roy Thomson in 1934 in Ontario as the publisher of The Timmins Daily Press. In 1953 Thomson acquired the Scotsman newspaper and moved to Scotland the following year. He consolidated his media position in Scotland in 1957 when he won the franchise forScottish Television. In 1959 he bought the Kemsley Group, a purchase that eventually gave him control of the Sunday Times. He separately acquired the Times in 1967. He moved into the airline business in 1965, when he acquired Britannia Airways and into oil and gas exploration in 1971 when he participated in a consortium to exploit reserves in the North Sea.
    [Show full text]
  • Thomson Reuters Annual Report 2015
    Annual Report 2015 March 8, 2016 WorldReginfo - 7aca8036-2545-4333-9004-c74199c31381 Thomson Reuters Annual Report 2015 Information in this annual report is provided as of March 3, 2016, unless otherwise indicated. Certain statements in this annual report are forward-looking. These forward-looking statements are based on certain assumptions and reflect our current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations are discussed in the “Risk Factors” section of this annual report as well as in materials that we from time to time file with, or furnish to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of the date of this annual report. Except as may be required by applicable law, we disclaim any intention or obligation to update or revise any forward-looking statements. The following terms in this annual report have the following meanings, unless otherwise indicated: Š “Thomson Reuters,” “we,” “us” and “our” each refers to Thomson Reuters Corporation and its consolidated subsidiaries, unless the context otherwise requires; Š “Woodbridge” refers to The Woodbridge Company Limited and other companies affiliated with it; and Š “$,” “US$” or “dollars” are to U.S. dollars. When we refer to our performance before the impact of foreign currency (or at “constant currency”), we mean that we apply the same foreign currency exchange rates for the current and equivalent prior period.
    [Show full text]
  • PDF Opens in New Window
    Royal Bank of Canada Notice of 2010 Annual Meeting of Common Shareholders Management Proxy Circular Your vote is important! Our Annual Meeting of Common Shareholders will be held at 9:00 a.m. (Eastern Standard Time) on Wednesday, March 3, 2010 at the Metro Toronto Convention Centre, North Building, Constitution Hall, 255 Front Street West, Toronto, Ontario, Canada. Whether or not you plan to attend the meeting, we encourage you to vote. Your participation as a shareholder is very important to us. Notice of Annual Meeting of Common Shareholders of Royal Bank of Canada Date Business of the Annual Meeting of Common Shareholders Wednesday, March 3, 2010 At the meeting, shareholders will be asked to: Time (1) Receive the financial statements for the year ended 9:00 a.m. (Eastern Standard Time) October 31, 2009 and the auditor’s report on the statements; Place Metro Toronto Convention Centre (2) Elect directors; North Building (3) Appoint the auditor; Constitution Hall 255 Front Street West (4) Approve the advisory resolution to accept the approach Toronto, Ontario to executive compensation disclosed in the Circular; Canada (5) Consider the shareholder proposals set out in Schedule ‘B’ to the Circular; and (6) Consider any other business which may be properly brought before the Annual Meeting of Common Shareholders. By order of the Board of Directors Carol J. McNamara Vice-President, Associate General Counsel and Secretary January 11, 2010 Important Shareholders who are unable to attend the meeting are encouraged to complete, sign and promptly return the enclosed form of proxy either by using the envelope provided or by faxing it to 1-866-249-7775 (toll-free in Canada and the United States) or (416) 263-9524 (for all other countries).
    [Show full text]
  • Factset Research Systems Inc. (Exact Name of Registrant As Specified in Its Charter)
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal quarter ended May 31, 2008 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-11869 FactSet Research Systems Inc. (Exact name of registrant as specified in its charter) Delaware 13-3362547 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 601 Merritt 7, Norwalk, Connecticut 06851 (Address of principal executive office) (Zip Code) Registrant’s telephone number, including area code: (203) 810-1000 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ The total number of shares of the registrant’s common stock, $.01 par value, outstanding on May 31, 2008 was 47,995,377.
    [Show full text]
  • 2019 Annual Report
    Annual Report 2019 March 10, 2020 Thomson Reuters Annual Report 2019 Information in this annual report is provided as of March 4, 2020, unless otherwise indicated. Certain statements in this annual report are forward-looking. These forward-looking statements are based on certain assumptions and reflect our current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations are discussed in the “Risk Factors” section of this annual report as well as in materials that we from time to time file with, or furnish to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of the date of this annual report. Except as may be required by applicable law, we disclaim any intention or obligation to update or revise any forward-looking statements. The following terms in this annual report have the following meanings, unless otherwise indicated: Š “Thomson Reuters,” “we,” “us” and “our” each refers to Thomson Reuters Corporation and its consolidated subsidiaries, unless the context otherwise requires; Š “Woodbridge” refers to The Woodbridge Company Limited and other companies affiliated with it; and Š “$,” “US$” or “dollars” are to U.S. dollars. When we refer to our performance before the impact of foreign currency (or at “constant currency”), we mean that we apply the same foreign currency exchange rates to the financial results of the current and equivalent prior period.
    [Show full text]
  • Thomson Reuters Corporation Investor Day - NYC
    FINAL TRANSCRIPT TRI - Thomson Reuters Corporation Investor Day - NYC Event Date/Time: Oct. 08. 2008 / 12:30PM GMT THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2010 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. FINAL TRANSCRIPT Oct. 08. 2008 / 12:30PM, TRI - Thomson Reuters Corporation Investor Day - NYC CORPORATE PARTICIPANTS Frank Golden Thomson Reuters Corporation - SVP Investor Relations Tom Glocer Thomson Reuters Corporation - CEO Devin Wenig Thomson Reuters Corporation - CEO, Markets Peter Moss Thomson Reuters Corporation - Global Head, Content, Technology & Operations Mark Redwood Thomson Reuters Corporation - President, Sales & Trading Jon Robson Thomson Reuters Corporation - Global Head, Enterprise Division James Powell Thomson Reuters Corporation - CTO Jim Smith Thomson Reuters Corporation - CEO, Professional Division Peter Warwick Thomson Reuters Corporation - President & CEO, North American Legal Tony Abena Thomson Reuters Corporation - SVP, US Law Firms Bob Daleo Thomson Reuters Corporation - EVP, CFO CONFERENCE CALL PARTICIPANTS Jeff Fan UBS - Analyst Peter Appert Goldman Sachs - Analyst Rob Richards Heathbridge Capital - Analyst Michael Meltz JPMorgan - Analyst Carl Bayard Genuity Capital Markets - Analyst PRESENTATION Frank Golden - Thomson Reuters Corporation - SVP Investor Relations If I could ask everyone to take their seats we©ll get started, please. Good morning. I©d like to welcome those of you in the audience as well as those of you on today©s webcast to be Thomson Reuters 2008 investor day meeting. Let me begin by introducing myself.
    [Show full text]
  • Printmgr File
    Annual Report 2018 March 13, 2019 WorldReginfo - de1fe12c-eb8f-4da9-b2dc-6c628dcbd7a9 Thomson Reuters Annual Report 2018 Information in this annual report is provided as of March 1, 2019, unless otherwise indicated. Certain statements in this annual report are forward-looking. These forward-looking statements are based on certain assumptions and reflect our current expectations. As a result, forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of the factors that could cause actual results to differ materially from current expectations are discussed in the “Risk Factors” section of this annual report as well as in materials that we from time to time file with, or furnish to, the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of the date of this annual report. Except as may be required by applicable law, we disclaim any intention or obligation to update or revise any forward-looking statements. The following terms in this annual report have the following meanings, unless otherwise indicated: Š “Thomson Reuters,” “we,” “us” and “our” each refers to Thomson Reuters Corporation and its consolidated subsidiaries, unless the context otherwise requires; Š “Woodbridge” refers to The Woodbridge Company Limited and other companies affiliated with it; and Š “$,” “US$” or “dollars” are to U.S. dollars. When we refer to our performance before the impact of foreign currency (or at “constant currency”), we mean that we apply the same foreign currency exchange rates to the financial results of the current and equivalent prior period.
    [Show full text]