REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

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Notes on the consolidated balance sheet continued16. InvestmentsINTERESTS IN INTERESTS IN INTERESTS IN OTHEROWN SHARES JOINT VENTURES ASSOCIATES INVESTMENTS TOTAL£M £M £M £M £MNet assets/cost31 December 1998 45 – 15 25 85Additions 68 6 – 102 176Share of (losses)/profits arising in year – (4) 1 – (3)Dividends received – – (2) – (2)Amounts written (off)/back (18) – – 4 (14)Disposals – – – (5) (5)Reclassifications – – 53 1 5431 December 1999 95 2 67 127 291Goodwill31 December 1998 – – 30 – 30Arising in the year – 13 3 – 16Charged in the year – (2) (12) – (14)Disposals – – (4) – (4)Reclassifications (see note 14) – – 11 – 1131 December 1999 – 11 28 – 39Net book amount31 December 1999Net assets/cost 95 2 67 127 291Goodwill – 11 28 – 3995 13 95 127 33031 December 1998Net assets/cost 45 – 15 25 85Goodwill – – 30 – 3045 – 45 25 115Listed investments at 31 December 1999Carrying value 95 – 80 34 209Market value 179 – 3,199 640 4,018Goodwill on associates was previously included within intangible assets on the consolidated balance sheet. The reclassification reflects the Initial Public Offering ofTIBCO Software Inc. which is now treated as an associated undertaking (see note 32).Had all listed investments been disposed of on 31 December 1999, tax of approximately £153 million would have been payable. The market value excludes TIBCOSoftware Inc. shares held by Reuters which will be transferred to TIBCO Finance employees on the exercise of outstanding options.The net book amount of ‘Interests in Own Shares’ represents the cost less amounts written off in respect of 21 million ordinary shares held by employee shareownership trusts (ESOTs). These were acquired in the open market using funds provided by Reuters. The write-off reflects employee interests under incentive planswhich are charged against profit over the vesting period of the awards (see pages 26–28). The ESOTs have waived dividend and voting rights on these shares.In July 1999 Reuters and Dow Jones formed a joint venture, Dow Jones Reuters Business Interactive LLC (trading as Factiva), in which Reuters has a 50% interest.In 1998 Reuters entered into a joint venture with Rudin Times Square Associates LLC to develop a building in the Times Square section of New York City.At 31 December 1999 Reuters had invested a nominal amount and had guaranteed the future injection of approximately US$45 million (£28 million).Other investments consist principally of Greenhouse Fund investments and Stock Exchange seats.60 Reuters Group PLC Annual Report 1999
17. Stocks1999 1998 1997£M £M £MContract work in progress 4 10 15Less progress payments (2) (9) (11)2 1 4Equipment stocks 2 5 94 6 1318. Debtors1999 1998 1997£M £M £MTrade debtors 197 197 176Less allowance for doubtful accounts (28) (28) (27)169 169 149Instinet counterparty debtors 432 204 122Other debtors 99 90 73Deferred taxation (see note 24) 63 65 74Prepayments and accrued income 58 67 73Amounts owed by joint ventures 13 – –Advance corporation tax recoverable – – 7834 595 498Amounts falling due after more than one year (included in the above):Other debtors 19 16 15Deferred taxation 27 24 4246 40 5719. Short-term investments1999 1998 1997£M £M £MListedGovernment securities: UK 2 2 2Overseas 180 115 83Other investments: Overseas – – 265182 117 350UnlistedCertificates of deposit 1 127 144Term deposits: UK 156 511 647Overseas 100 103 73Other investments: UK 21 3 –Overseas 30 101 61308 845 925490 962 1,275Reuters Group PLC Annual Report 1999 61
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REUTERS GROUP PLC ANNUAL REPORT AND
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2 Financial highlights3 Five year s
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From the Chairman.Theus now is Inte
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Reuters, wherChief Executive Peter
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Peter Job talks about theprojection
Page 12 and 13: TO FIND OUT MORE VISITwww.reuters.c
Page 18 and 19: Board of Directors1 2 34 567 8Non-e
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Page 25 and 26: appointments of non-executive direc
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Page 29 and 30: The table below shows the number of
Page 31 and 32: Vested options on Reuters Group PLC
Page 33 and 34: Statement of directors’ responsib
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Page 37 and 38: growth of 6% at comparable rates. I
Page 39 and 40: OtherYear to 31 December£m 1999 19
Page 41 and 42: ownership trust compared with £7 m
Page 43 and 44: market value of the Greenhouse Fund
Page 45 and 46: through internet-based infrastructu
Page 47 and 48: Notes on the consolidated profit an
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Page 51 and 52: 4. Taxation on profit on ordinary a
Page 53 and 54: Consolidated cash flow statement fo
Page 55 and 56: 11. Analysis of net fundsBANK/OTHER
Page 57 and 58: 12. Derivatives and other financial
Page 59 and 60: Reconciliation of movements in shar
Page 61: 15. Tangible assetsOFFICECOMPUTER E
Page 65 and 66: 23. Pensions and similar obligation
Page 67 and 68: 26. Capital and reservesPROFIT ANDC
Page 69 and 70: 29. Employee share option plansReut
Page 71 and 72: 32. Acquisitions and disposalsDurin
Page 73 and 74: Balance sheet of Reuters Group PLC
Page 75 and 76: Accounting policiesAccounting basis
Page 77 and 78: Summary of differences between UK a
Page 79 and 80: 38. Adjustments to shareholders’
Page 81 and 82: Other information for shareholdersI
Page 83 and 84: Financial diary for 2000Tuesday 8 F
Page 85 and 86: 1999 1998H1 H2 FY H1 H2 FYCosts £M
Page 87 and 88: 1999 1998Net assets £M £MReuters
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Page 94: www.reuters.com/ REUTERS GROUP PLC
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REUTERS GROUP PLC ANNUAL REPORT AND ACCOUNTS 1999

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