Note 3: Segment Reporting

In 2010, as part of its strategy Maximizing Value for Customers, the Group has transformed its organization to focus on its global markets and customer segments instead of geographic regions. In the new organization, there are four global operating divisions based on strategic customer segments: Legal & Regulatory, Tax & Accounting, Health & Pharma Solutions, and Financial & Compliance Services. This new segment information by division is based on the Group’s management and internal reporting structure. The Executive Board reviews the financial performance of its segments and the allocation of resources based on ordinary EBITA. Ordinary EBITA excludes exceptional restructuring expenses as these expenses are clearly distinct from the ordinary activities of the Group. Internal deliveries between the divisions are conducted on an at arm’s length basis with terms comparable to transactions with third parties. These revenues are limited and therefore not presented separately and have been eliminated. Revenues from third parties reported to the Executive Board are measured in a manner consistent with that in the statement of income. There are no major customers with a revenue stream that exceeds 10% or more of the Group’s total revenues.

Non-current liabilities, including interest-bearing liabilities, are not considered to be segment liabilities but rather are primarily managed by the central treasury and tax function.

Working capital is not managed at operating segment level, but at country/regional level.

Geographical segments

The geographical information can be summarized as follows: