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2013 Fact Book Is Intended to Provide a Broad-Based Information Set to Investors, and Also to Serve As a Detailed Reference Guide to Our Shareholders FACT BOOK 2013 Thomson Reuters Fact Book 2013 Table of Contents The 2013 Fact Book is intended to provide a broad-based information set to investors, and also to serve as a detailed reference guide to our shareholders. This fact book provides an introduction to Thomson Reuters, from our overarching strategy to investment highlights. It provides summary and detailed information regarding the company’s operating segments and financial metrics. Introduction Page 3 Business Overview Pages 4–15 Thomson Reuters Structure 5 Balanced Portfolio of Businesses 6 Senior Management 8 Thomson Reuters Priorities 9 Global Growth & Operations 10 Acquisitions and Divestitures 12 Technology 14 Historical Financial Information Pages 16–21 Investment Highlights Pages 22–29 Investment Highlights 23 Share Price Performance 24 Returning Cash to Shareholders 25 Capital Structure 26 Debt 27 Business Units Pages 30–67 Financial & Risk 31 Legal 50 Tax & Accounting 56 Intellectual Property & Science 62 Reuters News 67 Corporate Information Pages 68–71 Board of Directors 69 Trust Principles and Founders Share Company 70 Contact Information 71 Appendix Pages 72–80 Reconciliations 73 Calculation of Return on Invested Capital 79 Special Note 80 Thomson Reuters Fact Book 2013 Introduction 3 We are the leading source of intelligent Quick Facts: information for the world’s businesses and professionals, providing customers with 400,000 Thomson Reuters financial business competitive advantage. Intelligent information serves more than 40,000 customers and 400,000 end users across is a unique synthesis of human intelligence, the world. industry expertise and innovative technology that provides decision-makers with the 80% knowledge to act, enabling them to make Thomson Reuters legal research is used by more than 80% better decisions faster. Through approximately of Fortune 500 companies. 60,000 employees across more than 100 countries, we deliver this must-have insight 100% to the financial and risk, legal, tax and 100% of the Top 100 CPA firms use our flagship tax and accounting, intellectual property and science accounting knowledge solution, and media markets, powered by the world’s Thomson Reuters Checkpoint. most trusted news organization. Thomson Reuters shares are listed on the Toronto Stock 20 MILLION Our Intellectual Property & Science Exchange and New York Stock Exchange products and services are used by more than 20 million individuals (symbol: TRI) and our headquarters are located around the world. at 3 Times Square, New York, New York 10036. Our website is www.thomsonreuters.com. 2.1 MILLION We write more than two million unique stories a year. Thomson Reuters Fact Book 2013 4 BUSINESS OVERVIEW Thomson Reuters Fact Book 2013 Business Overview 5 Thomson REUTERS STRUctURE We provide intelligent information to the world’s businesses and professionals, serving four primary customer groups. We have a leading market position, with well-recognized and respected brands in each of our principal markets. Thomson Reuters (2012 Results) $12.4 billion revenues (1) 26.6% EBITDA margin 17.7% Operating profit margin Financial Tax & IP & & Risk Legal Accounting Science $6.8 billion revenues (1) $3.3 billion revenues (1) $1.2 billion revenues (1) $894 million revenues (1) 24.9% EBITDA margin 38.2% EBITDA margin 30.3% EBITDA margin 33.9% EBITDA margin 15.9% Operating profit margin 29.6% Operating profit margin 20.5% Operating profit margin 26.3% Operating profit margin Trading U.S. Law Firm Professional Intellectual Property Solutions Solutions Investors Corporate Corporate, Scientific & Scholarly Government & Research Marketplaces Academic Knowledge Solutions Life Sciences Governance, Risk Global Businesses Government & Compliance Global Growth & Operations Reuters News (1) Revenues from ongoing businesses. This and other non-IFRS measures are defined and reconciled to the most directly comparable IFRS measures in the tables appended to this fact book. Thomson Reuters Fact Book 2013 Business Overview 6 Balanced Portfolio OF BUSINESSES We believe our portfolio of assets is well diversified by product and customer. This chart illustrates the diversity of our business. LEGAL FINANCIAL & RISK 26% 55% Elektron Managed Services (Data Feeds & Platform) U.S. Law Firm Solutions Equities, Derivatives & Options TRADING 7% 14% Fixed Income 5% Corporate, Government & Academic 4% Commodities & Energy 6% 3% Comms Recoveries 1% Global Businesses 6% Asset Management 8% (1) billion 2012 revenues $12.4 INVESTORS INTELLECTUAL 7% PROPERTY 4% & SCIENCE Wealth Management 4% 2% 9% Banking & Research 3% TAX & ACCOUNTING 3% Enterprise Content 2% 12% Tradeweb Reuters News(2) FX GRC MARKETPLACES (1) Revenues from ongoing businesses. This and other non-IFRS measures are defined and reconciled to the most directly comparable IFRS measures in the tables appended to this fact book. (2) Formerly reported as the Media business. Thomson Reuters Fact Book 2013 Business Overview 7 76% of our portfolio grew in 2012. LEGAL FINANCIAL & RISK Elektron Managed Services (Data Feeds & Platform) U.S. Law Firm Solutions Equities, Derivatives & Options TRADING Fixed Income Corporate, Government & Academic Commodities & Energy Comms Recoveries Global Businesses Asset Management (1) billion 2012 revenues $12.4 INVESTORS INTELLECTUAL PROPERTY & SCIENCE Wealth Management Banking & Research TAX & ACCOUNTING Enterprise Content Tradeweb Reuters News(2) FX GRC MARKETPLACES Revenue Growth Pre-FX >5% 0% to 5% >-5% -5% to 0% (1) Revenues from ongoing businesses. This and other non-IFRS measures are defined and reconciled to the most directly comparable IFRS measures in the tables appended to this fact book. (2) Formerly reported as the Media business. Thomson Reuters Fact Book 2013 Business Overview 8 SENIOR Management James C. Smith Stephen J. Adler James T. Powell President and President and Executive Vice Chief Executive Editor-in-Chief, President and Chief Officer Reuters Technology Officer Stephane Bello Shanker Executive Vice Ramamurthy President and Chief President, Financial Officer Global Growth & Operations David W. Craig Deirdre Stanley President, Executive Vice Financial & Risk President, General Counsel and Secretary Christopher Michael E. Kibarian Suchsland President, President, Intellectual Property Legal & Science Brian Peccarelli Peter Warwick President, Executive Vice Tax & Accounting President and Chief People Officer As of March 2013 Thomson Reuters Fact Book 2013 Business Overview 9 Thomson REUTERS PRIORITIES We have set three key priorities for 2013: 1 2 3 Focusing on execution, Driving growth beyond Engaging a talented product quality and the core and diverse workforce customer satisfaction Customer satisfaction and retention We are driving growth through a renewed We are working in new ways across rates improved across the business in focus on organic product development, business units to build unique 2012. Within F&R, product simplification yielding a robust product pipeline. opportunities of learning for our and the continued rollout of Eikon employees. should lead to further gains. Through our Global Growth & Operations organization, we will further expand into We remain committed to hiring the We are building on our momentum fast-growing geographies. This includes best talent from across leading players with the development and rollout of a focus on Latin America, Middle East & in areas such as technology, media our foundational future platforms. Africa and parts of Asia. and financial services. We are acting on customer feedback We continue, especially within our A significant proportion of our employee to align more effectively with the needs Legal and Tax & Accounting segments, base will continue to be located outside of our customers. the transformation to software and of North America and Europe. workflow solutions. Thomson Reuters Fact Book 2013 Business Overview 10 The map below depicts the countries Global growth & Operations where we acquired businesses. OUR TOP 10 GGO LOCATIONS We formed our Global Growth & Operations (GGO) business unit at the beginning of BY TOTAL NUMBER OF EMPLOYEES 2012. GGO works across our Financial & Risk, Legal, Tax & Accounting and Intellectual Property & Science businesses to combine our global capabilities and to expand our Hyderabad Beijing local presence and development in countries and regions where we believe the greatest growth opportunities exist. GGO is a separate business unit but we report financial São Paulo Juiz de Fora results for GGO in our Financial & Risk, Legal, Tax & Accounting and Intellectual Buenos Aires Pamplona Property & Science businesses results. GGO related revenues in 2012 were approaching $1 billion. The geographic areas where GGO is currently focused include Latin America, Chennai Dubai China, India, the Middle East, Africa, the Association of Southeast Asian Nations, North Manila Santiago Asia, Russia and countries comprising the Commonwealth of Independent States (CIS) and Turkey. GGO also manages our nine global operations centers that provide services across Thomson Reuters. In 2012, GGO closed ten acquisitions, launched a number of innovative products, delivered efficiencies through the operations centers and helped leverage capabilities across our business segments. Countries where we acquired businesses Top 10 locations by total number of employees Thomson Reuters Fact Book 2013 Business Overview 11 The assets from our 2011 acquisition of CorpSmart, which provides Middle East, Africa, Russia/ multinational corporations
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