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EXHIBIT INDEX&LInformation in this annual repo6xwwwthomsonreuterscom wwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)s
Key BrandsOKey Brands (1)wwwtrustorgwwwtrustorg (1)&Thomson Reuters Founders Share %bThomson Reuters Founders S (1)Executive Summary,<Executive Summary (1)&NcDispositions As part of our con&Dispositions As part of our (1)&OResults of Operations Continuin&Results of Operations Conti (1)&PResults of Operations Conti (2)&AResults of Operations Conti (3)&IdResults of Operations Conti (4)&HResults of Operations Conti (5)&TResults of Operations Conti (6)&Results of Operations Conti (7)&Results of Operations Conti (8)&MResults of Operations Conti (9)&6Results of Operations Cont (10)&uYResults of Operations Cont (11)&}Results of Operations Cont (12)&Results of Operations Cont (13)&Results of Operations Cont (14)&Results of Operations Cont (15)&2$Results of Operations Cont (16)&CRResults of Operations Cont (17)&>Results of Operations Cont (18)&Results of Operations Cont (19)&Results of Operations Cont (20)&Results of Operations Cont (21)&8Free cash flow Free cash flow d&PLiquidity and Capital Resources&Free cash flow The increase in %Free cash flow The increas (1)%Free cash flow The increas (2)%$*Free cash flow The increas (3)%WFree cash flow The increas (4)OutlookOutlook (1)_Outlook (2)Outlook (3)5Outlook (4)!XRelated Party Transactionsy
Appendix AǡAppendix A (1)Appendix A (2)
Appendix B; Appendix B (1)z Appendix B (2)ɢ Appendix B (3) Appendix B (4),
Appendix B (5)T
Appendix B (6)
Appendix B (7)
Appendix B (8) Appendix B (9)o*
Appendix CUXAppendix C (1)yAppendix C (2)_
Appendix D&Other identifiable intangible al
Appendix F)
Appendix G&xManagement s Report on Internal6Income StatementIncome Statement (1)
Balance SheetW4
Cash Flows&}
CONSOLIDATED STATEMENT OF CHANG&
Computer hardware and other pro*Intangible assets&GPronouncements effective for an&XnPronouncements effective fo (1)&Pronouncements effective fo (2)&ZPronouncements effective fo (3)&Pronouncements effective fo (4)&q/Pronouncements effective fo (5)&RPronouncements effective fo (6)&[qPronouncements effective fo (7)&IPronouncements effective fo (8)&,Pronouncements effective fo (9)&Pronouncements effective f (10)&Pronouncements effective f (11)&HPronouncements effective f (12)&<>Pronouncements effective f (13)&\Pronouncements effective f (14)&~Pronouncements effective f (15)&Pronouncements effective f (16)&Pronouncements effective f (17)&Pronouncements effective f (18)&Pronouncements effective f (19)&"1Pronouncements effective f (20)&QPronouncements effective f (21)&!rPronouncements effective f (22)&Allowance for doubtful accounts&βAllowance for doubtful acco (1)&Allowance for doubtful acco (2)&uAllowance for doubtful acco (3)&=EAllowance for doubtful acco (4)&Allowance for doubtful acco (5)&Allowance for doubtful acco (6)&Allowance for doubtful acco (7)&Allowance for doubtful acco (8)&'Allowance for doubtful acco (9)&WAllowance for doubtful acc (10)&LAllowance for doubtful acc (11)&Allowance for doubtful acc (12)&Allowance for doubtful acc (13)&AAllowance for doubtful acc (14)&_#Allowance for doubtful acc (15)&TGAllowance for doubtful acc (16)&dAllowance for doubtful acc (17)&TAllowance for doubtful acc (18)&Allowance for doubtful acc (19)&Allowance for doubtful acc (20)&@Allowance for doubtful acc (21)&Allowance for doubtful acc (22)&YYAllowance for doubtful acc (23)&xAllowance for doubtful acc (24)&*Allowance for doubtful acc (25)&Allowance for doubtful acc (26)&VAllowance for doubtful acc (27)&Allowance for doubtful acc (28)&<Allowance for doubtful acc (29)&mAllowance for doubtful acc (30)&DAllowance for doubtful acc (31)&Allowance for doubtful acc (32)&Allowance for doubtful acc (33)&Allowance for doubtful acc (34)&EAllowance for doubtful acc (35)&cAllowance for doubtful acc (36)&߁Allowance for doubtful acc (37)&Allowance for doubtful acc (38)&`Allowance for doubtful acc (39)&Allowance for doubtful acc (40)&{Allowance for doubtful acc (41):Pension Plan& kAllowance for doubtful acc (42)&<Allowance for doubtful acc (43)&Allowance for doubtful acc (44)&GAllowance for doubtful acc (45)&Allowance for doubtful acc (46)&KAllowance for doubtful acc (47)&Allowance for doubtful acc (48)&Allowance for doubtful acc (49)&Allowance for doubtful acc (50)Income Statement (2)&L!Allowance for doubtful acc (51)&TAllowance for doubtful acc (52)&Allowance for doubtful acc (53)&^Allowance for doubtful acc (54)&`Allowance for doubtful acc (55)&Allowance for doubtful acc (56)&Allowance for doubtful acc (57)&"Allowance for doubtful acc (58)&CAllowance for doubtful acc (59)&aAllowance for doubtful acc (60)&Allowance for doubtful acc (61)&ۜAllowance for doubtful acc (62)_Executive Officers DirectorsAudit Committee&HPrincipal Accountant Fees and SkIndependent DirectorsMarket for SecuritiesO Dividendsc
Dividends (1)%?Transfer Agents and Registrars&`wwwsedarcom and in the EDGAR sePrincipal Subsidiaries!rPrincipal Subsidiaries (1)&Annual Information Form Form 51&Annual Information Form For (1)&Annual Information Form For (2)&:Annual Information Form For (3)WTABLE OF CONTENTS
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I }$ }I;
?
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
EXHIBIT INDEX Exhibit
Number
DescriptionfffffX@5Annual Report for the year ended December 31,
5
2018 (which constitutes an Annual Information1)Form and includes Management?s Discussion5and Analysis and Audited Financial Statements2*for the year ended December 31, 2018), and2*includes a Form 40F Cross Reference Tableon page 182X@%Consent of PricewaterhouseCoopers LLP33333X@4,Certification of the Chief Executive Officer5pursuant to Section 302 of the SarbanesOxleyAct of 2002X@4,Certification of the Chief Financial Officer5pursuant to Section 302 of the SarbanesOxleyAct of 2002X@4,Certification of the Chief Executive Officer5pursuant to Section 906 of the SarbanesOxleyDlwkGx';W?iQ{c !"#$%&'()*+,./0123456789:;<=> Act of 2002!!"fffffX@"4",Certification of the Chief Financial Officer##5#pursuant to Section 906 of the SarbanesOxley$$$Act of 2002%%&X@&9&1Code of Business Conduct and Ethics (incorporated''/''by reference to Exhibit 99.1 of Thomson((9(1Reuters Corporation?s Form 6K dated February 16,))~
)**+33333X@++Audit Committee Charter,,~
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EXHIBIT INDEXwwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I;}$ }}$
6
"THOMSON REUTERS CORP /CAN/40F
03/13/2019f^Information in this annual report is provided as of March 1, 2019, unless otherwise indicated. Business ~
Overview
~
Customer Segments~
Legal Professionals~
Corporates
~
Tax Professionals~
Reuters News~
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"
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&'Additional Business Information~
*Risk Factors~
:,$Management?s Discussion and Analysis~
n)!Consolidated Financial Statements~
J( Executive Officers and Directors~
vExecutive Officers~
v Directors~
~Audit Committee~
.&Principal Accountant Fees and Services~
Controlled Company~
Independent Directors~
91Presiding Directors at Meetings of NonManagement~
!and Independent DirectorsD
l>2&Rj?;z81 !"#$%&'()*+,./012345+ #Code of Business Conduct and Ethics ~
!Additional Disclosures!!~
!!"Additional Information""~
""(# Description of Capital Structure##~
##$Market for Securities$$~
$$% Dividends%%~
%%&
Woodbridge&&~
&&&'Transfer Agents and Registrars''~
''"(Ratings of Debt Securities((~
(()Material Contracts))~
))*Principal Subsidiaries**~
**+Interests of Experts++~
+++,#Further Information and Disclosures,,~
,,Cross Reference Tables~
/.'Annual Information Form (Form 51102F2)..~
../Cross Reference Table'0Form 40F Cross Reference Table00~
0012$3____________________________14)Created by Morningstar Document Research.05(http://documentresearch.morningstar.com/0KF[_
Xui]5=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$ }8
7
"THOMSON REUTERS CORP /CAN/40F
03/13/2019www.thomsonreuters.com. Legal Professionals
6.Serves law firms and governments with research4,and workflow products, focusing on intuitive
7
/legal research powered by emerging technologies/'and integrated legal workflow solutions2*that combine content, tools and analytics.
Corporates1)Serves our corporate customers, including2*the seven largest global accounting firms,/'with our full suite of offerings across%legal, tax, regulatory and compliance
functions.Tax Professionals6.Serves tax, accounting and audit professionals1)in accounting firms (other than the seven3+largest, which are served by our Corporates/'segment) as well as governmental taxingDlyma=@T0m]9A !"#$%&'()*+,./0123456 . &authorities with research and workflow!!5!products, focusing on intuitive tax offerings""%"and automating tax workflows.###$$$Reuters News%%%&&,&$Provides realtime, multimedia news''/''and information services to newspapers,((5(television and cable networks, radio stations))1))and websites around the globe, as well as***
to Refinitiv.+++,,,Global Print..4.,Provides legal and tax information primarily////'in print format to customers around the000world.11123$4____________________________15)Created by Morningstar Document Research.06(http://documentresearch.morningstar.com/2e$d{J&7
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }$4}$ }y<}$ }0}$ }7
"THOMSON REUTERS CORP /CAN/40F
03/13/2019www.thomsonreuters.com. Attractive Industry + #Balanced and Diversified Leadership ! Attractive Business Model & Strong Competitive Positioning & Disciplined Financial Policies
2*? ??? A leader in key Legal Professionals,+#? ??? 75% of revenues are recurring.&? ??? Proprietary databases and deeply.&? ??? Focused on free cash flow growth7/? ??? Customer segments operate in an estimated/'Corporates and Tax Professionals market%embedded workflow tools and analytics4
,$32 billion market segment which we estimate
segments
:
2? ??? 87% of revenues are delivered electronically
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&? ???Balance investing in business and&grew midsingle digits in 2018#or as software as a service0(? ??? Technology and operating platforms)!returning capital to shareholders0(? ??? Products and services tailored for/'built to address the global marketplace
professionals/'? ??? Strong consistent cash generation2*? ??? Commitment to maintaining investmentcapabilities2*grade rating with stable capital structure+#? ??? Deep broad industry knowledge3+? ??? $2 billion investment fund to bolster3+? ??? Distinct core customer group revenues6.positions in key growth areas or to repurchaseshares$? ??? Geographical diversity$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }:}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019www.thomsonreuters.com.
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$4}$ }:}$ }0}$
"
"THOMSON REUTERS CORP /CAN/40F
03/13/2019www.thomsonreuters.com. )
! NonIFRS Financial Measures (1)
2018 Outlook (2)
2018 Actual Performance#(in constant currency (2) )
Revenues0(Low single digit growth (excludes fourth2.5%1)quarter 2018 revenues within Reuters News from Refinitiv following+#the closing of the F&R transaction) Adjusted EBITDA,$Approximately $1.3 billion including$1.3 billion%the Corporate costs referred to below Total Corporate costs80Between $500 million and $600 million (including$499 million (3)4,stranded costs and investments to reposition0(our company following the closing of theF&R transaction)3+ Depreciation and amortization of computer%Between $500 million and $525 million$510 millionsoftware/' Capital expenditures, as a percentage%Approximately 10% of revenuesApproximately 10%of revenues1) Effective tax rate on adjusted earningsBetween 17% and 19%15%$____________________________D
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)Key Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ }y<}$ }m}$ }}$ }m
=
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Key Brands
Brand
Type of Product/Service
Legal
Corporates
Tax
Professionals
Professionals
Westlaw
:
2Legal, regulatory and compliance informationbased
Westlaw Edge (U.S.)products and services.Sweet & Maxwell (UK)Aranzadi (Spain).&Thomson Reuters Westlaw is our primaryLa Ley (Argentina)0(online legal research delivery platform.%Westlaw offers authoritative content,2*powerful search functionality and research2*organization, team collaboration features,7/and navigation tools to find and share specific/'points of law and search for analyticalcommentary.3+Localized versions of online legal research6.services are provided in Argentina, Australia,%Brazil, Canada, Chile, China, France,3+Hong Kong, India, Ireland, Japan, Malaysia,/'New Zealand, Paraguay, Peru, Singapore,/'South Korea, Spain, the United Kingdom,4,Uruguay and other countries. Through WestlawD
lzn,jx@?Pcy. ! " # $ % & ' ( ) * + ,  . / 0 1 2 3 4 5 6 7 8 9 : ; < 3 +International, we offer our online products!!2!*and services to customers in markets where""1")we do not offer a fully localized Westlaw###service.$
Practical Law$$%Legal knowhow, current awareness and$$$$$$%Practical Law Connect%%%workflow tools with embedded guidance&&2&*from expert practitioners. Practice notes,''1')standard documents, checklists and What?s((5(Market tools cover a wide variety of practice))2)*areas such as commercial, corporate, labor**.*&and employment, intellectual property,+++%finance and litigation. Practical Law,,6,.currently has offerings in the United Kingdom,3+United States, Canada, Australia and China.
.CLEAR.8.0Public and proprietary records about individuals....../ PeopleMap/0/(and companies with tools for immediately////000usable results.1
Checkpoint101(Integrated tax information solution that1111112262.addresses market disruption through integrated333%research, editorial insight, workflow44/4'productivity tools, online learning and5525*news updates, along with intelligent links66(6 to related content and software.7FindLaw707(Online legal directory, website creation7777778808(and hosting services, law firm marketing99+9#solutions and peer rating services.$:____________________________1;)Created by Morningstar Document Research.0<(http://documentresearch.morningstar.com/>0cLSj!Z'7Uv*=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key Brands
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U}$ }:}$ }m}$ }}$ }m
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Key Brands
Brand
Type of Product/Service
Legal
Corporates
Tax
Professionals
Professionals
Elite 3E
2
*Suites of integrated software applications
ProLaw7/that assist with business management functions, Legal One4,including financial and practice management,Firm Central%matter management, document and email7/management, accounting and billing, timekeepingand records management.
Legal Tracker6.Online spend and matter management, ebilling,.&legal analytics services, and document#storage, search, retrieval.eDiscovery Point.&Electronic discovery software solutionLegal Managed Services0(and outsourced legal services, including5managed discovery, document review, financial1)trade documentation and regulatory changemanagement.Regulatory Intelligence.&Information and software products that.&provide a single source for regulatory/'news, analysis, rules and developments,80with global coverage of more than 400 regulatorsand exchanges.D>lzn,jsr755] ! " # $ % & ' ( ) * + ,  . / 0 1 2 3 4 5 6 7 8 9 : ; < = Compliance Learning 1 )Training programs that assist in changing !!6!.behavior and supporting a culture of integrity!!!!"""and compliance.# ONESOURCE#4#,Comprehensive global tax compliance solution######$$$%with local, countryspecific focus to%%0%(manage a company?s entire tax lifecycle,&&1&)including for tax planning, indirect tax,''/''tax provision, tax compliance, transfer((3(+pricing, trade and customs, tax information))/)'reporting, trust, property, and overall**4*,tax workflow management and data management.+CS Professional Suite++%Scalable, integrated suite of desktop++++++,,,%and online software applications that/'encompass key aspects of a professional..5.accounting firm?s operations, from collecting//./&customer data and posting finished tax0000(returns to the overall management of the111accounting practice.
2Onvio232+International suite of cloudbased products22222233830that bring aspects of accounting firm operations4424*into a single, accessible online platform,55/5'including for document management, file6646,sharing and collaboration, time and billing,7747,workpaper management and project management.8Aumentum848,Integrated software solution for governments88888899/9'to manage the entire property lifecycle::3:+in order to simplify property tax functions$;____________________________1<)Created by Morningstar Document Research.0=(http://documentresearch.morningstar.com/@DXm ;E`T i~/=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)wwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019www.trust.org. By Region
Americas
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"$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<vj.Yb78=PF0*8X>
@
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorg!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }'}$ }}$ }}$ }6
"THOMSON REUTERS CORP /CAN/40F
03/13/2019www.trust.org.
Facility
Approx. Sq. Ft.
Owned/Leased
Principal Use610 Opperman Drive,~
i
Owned,$Legal Professionals headquarters and'
Eagan, Minnesota, United States
operating facilities2395 Midway Road,~
Owned5Tax Professionals and Corporates headquarters( Carrollton, Texas, United States and operating facilities6300 Interfirst Drive,~
J
Owned,$Tax Professionals operating facilityAnn Arbor, Michigan,
United States3 Times Square,~
Owned/subleased (1)%Corporates and Reuters News operatingNew York, New York,facility
United States333 Bay Street,
59,250 (2)Leased.&Thomson Reuters headquarters and Legal Toronto, Ontario, Canada*"Professionals operating facilitiesLandis & Gyr 3,~
*LeasedCorporate center officeZug, Switzerland$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@Dvj>X8A =PF0*8X>
@
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1) Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }7}$ }$}$
4
"THOMSON REUTERS CORP /CAN/40F
03/13/2019kcThomson Reuters Founders Share Company holds a Thomson Reuters Founders Share in our company and ma5 We have organized our management?s discussion 3
+and analysis in the following key sections:/'Executive Summary ? a brief overview of~
v1
)our business and key financial highlights/'Results of Operations ? a comparison of~
1)our current and prioryear period results6.Liquidity and Capital Resources ? a discussion~
!of our cash flow and debt4,Outlook ? trends, priorities and our current~
financial outlook1)Related Party Transactions ? a discussion~
.&of transactions with our principal and/'controlling shareholder, The Woodbridge0(Company Limited (Woodbridge), and others4,Subsequent Events ? a discussion of material~
0(events occurring after December 31, 20181)and through the date of this management?sDl9!p9!o
Q,uu] !"#$%&'()*+,./0123 discussion and analysis!!5"Changes in Accounting Policies ? a discussion""~
""1#)of changes in our accounting policies and($ recent accounting pronouncements%%3&+Critical Accounting Estimates and Judgments&&~
&&0'(? a discussion of critical estimates and4(,judgments made by our management in applying)accounting policies**/+'Additional Information ? other required++~
++,disclosures+.#Appendix ? supplemental information..~
../0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,YZ%xDpYA=PF0*8X>
@332211
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$}$ }:
&
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03/13/2019kcThomson Reuters Founders Share Company holds a Thomson Reuters Founders Share in our company and ma Term
Definition
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constant currency
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.A measure derived by applying the same foreign0(currency exchange rates to the financial80results of the current and equivalent prioryearperiodEPSEarnings per shareF&R1)Our former Financial & Risk business, nowknown as RefinitivF&R transaction4,Our sale of a 55% interest in F&R to private1)equity funds managed by Blackstone, which!closed on October 1, 2018n/aNot applicablen/mNot meaningfulorganic or organically3+A measure expressing growth of our existing7/businesses excluding impacts from acquisitions,/'the 30year Reuters News agreement with.&Refinitiv signed in 2018, dispositionsand IFRS 15* Refinitiv1)The name of our former F&R business as of*"the closing of the F&R transactionD l9!o#NGe(YqA !"#$% $ or US$ U.S. dollars!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/Yd=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$ }8}$
6
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Executive Summary Legal Professionals
6.Serves law firms and governments with research4,and workflow products, focusing on intuitive
7
/legal research powered by emerging technologies/'and integrated legal workflow solutions2*that combine content, tools and analytics.
Corporates%Serves corporate customers, including2*the seven largest global accounting firms,/'with our full suite of offerings across%legal, tax, regulatory and compliance
functions.Tax Professionals6.Serves tax, accounting and audit professionals1)in accounting firms (other than the seven3+largest, which are served by our Corporates/'segment) as well as governmental taxingDlsg+fx*Ge7h !"#$%&'()*+,./012345 . &authorities with research and workflow!!5!products, focusing on intuitive tax offerings""%"and automating tax workflows.###$$$Reuters News%%%&&,&$Provides realtime, multimedia news''/''and information services to newspapers,((5(television and cable networks, radio stations))1))and websites around the globe, as well as***
to Refinitiv.+++,,,Global Print..4.,Provides legal and tax information primarily////'in print format to customers around the000world.12$3____________________________14)Created by Morningstar Document Research.05(http://documentresearch.morningstar.com/0Te$d{J&7
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive Summary!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }$4}$ }y<}$ }0}$ }7
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Executive Summary Attractive Industry + #Balanced and Diversified Leadership ! Attractive Business Model & Strong Competitive Positioning & Disciplined Financial Policies
2*? ??? A leader in key Legal Professionals,+#? ??? 75% of revenues are recurring.&? ??? Proprietary databases and deeply.&? ??? Focused on free cash flow growth7/? ??? Customer segments operate in an estimated/'Corporates and Tax Professionals market%embedded workflow tools and analytics4
,$32 billion market segment which we estimate
segments
:
2? ??? 87% of revenues are delivered electronically
/
'? ??? Balance investing in business and&grew midsingle digits in 2018#or as software as a service0(? ??? Technology and operating platforms)!returning capital to shareholders0(? ??? Products and services tailored for/'built to address the global marketplace
professionals/'? ??? Strong consistent cash generation2*? ??? Commitment to maintaining investmentcapabilities2*grade rating with stable capital structure+#? ??? Deep broad industry knowledge3+? ??? $2 billion investment fund to bolster3+? ??? Distinct core customer group revenues6.positions in key growth areas or to repurchaseshares$? ??? Geographical diversity$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }y<}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019kcDispositions. As part of our continuing strategy to optimize our portfolio of businesses and ensure
Year ended December 31,
Change
5 (millions of U.S. dollars, except per share~
~
Total
Constantamounts and margins)
Currency# IFRS Financial Measures
Revenues~
U~
R
4%
Operating profit~
2~
*
(25%)
80 Diluted EPS (includes discontinued operations)p=
ף@
ףp=
?
205%
:2 Cash flow from operations (includes discontinued~
: ~
2%
operations)+# NonIFRS Financial Measures (1)
Revenues~
U~
R
4%
4% Adjusted EBITDA~
V~
(14%)
(15%) Adjusted EBITDA margin
24.8%
30.0%
(520)bp
(560)bp Adjusted EPS?Gz?
(20%)
(22%)/' Free cash flow (includes discontinued~
N~
"
7%
operations)$____________________________1)Created by Morningstar Document Research.Dl9!Ir 0 (http://documentresearch.morningstar.com/H=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }1}$ }:}$ }0}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019kcDispositions. As part of our continuing strategy to optimize our portfolio of businesses and ensure '
NonIFRS Financial Measures (1)
2018 Outlook (2)
2018 Actual Performance#(in constant currency (2) )Revenues0(Low single digit growth (excludes fourth2.5%
1
)quarter 2018 revenues within Reuters News/'from Refinitiv following the closing ofthe F&R transaction)Adjusted EBITDA,$Approximately $1.3 billion including$1.3 billion%the Corporate costs referred to belowTotal Corporate costs80Between $500 million and $600 million (including$499 million (3)4,stranded costs and investments to reposition0(our company following the closing of theF&R transaction)1)Depreciation and amortization of computer%Between $500 million and $525 million$510 millionsoftware%Capital expenditures, as a percentage%Approximately 10% of revenuesApproximately 10%of revenues/'Effective tax rate on adjusted earningsBetween 17% and 19%15%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D#l9!
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
5 (millions of U.S. dollars, except per share~
~
Total
amounts and margins)
Constant
Currency
! IFRS Financial Measures
Revenues~
U~
R
4%
Operating profit~
2~
*
(25%)
0( Diluted EPS from continuing operationsHzG?)\(?
(69%)
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!!!
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$
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' Adjusted EBITDA''~
'V'''~
''' '
'(14%)''
'
'(15%)'(((((((((( (
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* Adjusted EBITDA margin**
*24.8%***
*30.0%** *
*(520)bp**
**(560)bp*++++++++++ +
+++
+++,,,, ,
3+ Adjusted EBITDA less capital expenditures~
V~
 
(26%)
.......... .
..//// /
30+ Adjusted EBITDA less capital expenditures00
014.3%000
020.2%00 0
0(590)bp00
0001margin111111111 1
1123333 3
4 Adjusted EPS444?4444Gz?44 4
4(20%)44
4
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@*::9988
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I"}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
$ (millions of U.S. dollars)~
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Total
Constant
Currency
Recurring revenues~
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7%
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I"}$ } }$ } }
$ }}$ }y
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"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
$ (millions of U.S. dollars)~
~
Total
Constant
Currency
Operating expenses~
@~
9
11%
13%
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<TqeYMQVCw;QymE=PF0*8X>
@*
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ } }$ } }
$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31, "
(millions of U.S. dollars)
~
~
Change
Depreciation~
~
(3%) )!Amortization of computer software~
B~
12% Subtotal~
~
Z
9% 5Amortization of other identifiable intangible~
~
(19%)assets$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/< qeYMF"2f=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I"}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$ (millions of U.S. dollars)
~
~
$ Other operating gains, net~
v~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.qeYMvRZbVJ"=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I"}$ } }$ } }
$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
$
(millions of U.S. dollars)
~
~
Change
Net interest expense~
~
(27%)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2qeYMF"(=a=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$
(millions of U.S. dollars)
~
~
& Other finance (income) costs~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2qeYMvRZ<=PF0*8X>
@"
l
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$
(millions of U.S. dollars)
~
~
Refinitiv~
?)! Other equity method investments~
~
5 Share of posttax (losses) in equity method~
~
investments$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>b 0qeYMvRZP/sK=PF0*8X>
@"
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I"}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$
(millions of U.S. dollars)
~
~
Tax expense (benefit)~
6~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2qeYMvRZC=PF0*8X>
@"
l An)5u6
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }:}$ } }$ } }$
A
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$
(millions of U.S. dollars)
~
~
Tax expense (benefit),$ Tax items impacting comparability:7/ Net tax charges related to restructuring (1)~
j ?" Corporate tax rates (2)~
~
# Deferred tax adjustments~
~
D
lqeYMvRZG;{WMA'x ! " # $ % & ' ( ) * + ,  . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? $ Other tax adjustments (3) ~
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)))) )?)*********+++8,0 Amortization of other identifiable intangible,,~
,,,,~
,n,assets.///40, Share of posttax losses in equity method00~
0*000~
0
01investments1111111123334 Other items44~
4
444~
4J45555555556667
Subtotal77~
7777~
77888888888999: Total::~
::::~
::;;;;;;;;;<=$>____________________________1?)Created by Morningstar Document Research.D/lu9/^jF4(hC92@ 0@(http://documentresearch.morningstar.com/H=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }=}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$
(millions of U.S. dollars)
~
~
Tax expense (benefit)~
6~
;3 Remove: Items from above impacting comparability~
2~
v0( Total tax expense on adjusted earnings~
f~
^$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>q 0qeYMvRZCpd<=PF0*8X>
@"
l 
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I;}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,/
' Taxes paid (millions of U.S. dollars)
~
~
5 Taxes paid related to continuing operations~
:~
7/ Taxes paid related to discontinued operations~
~
^91 Taxes received on sales of businesses (includes ?~
discontinued operations) Total taxes paid~
~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D
lqeYMvRO"c?3E9=PF0*8X>
@"
l
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ } }$ } }
$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
5
 (millions of U.S. dollars, except per share
~
~
Change
amounts)
% Earnings from continuing operations~
~
(72%)
0( Diluted EPS from continuing operationsHzG?)\(?
(69%)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: qeYMF" m=h=PF0*8X>
@"
l W
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ } }$ } }
$ }}$ }y
}$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
5 (millions of U.S. dollars, except per share~
~
Total
Constantamounts)
Currency
Adjusted earnings~
~
(25%)
% Adjusted earnings per share ? Gz?
(20%)
(22%)
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@
DqeYMQl.'=PF0*8X>
@*
l 'L
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }
$ }}$ }y
}$
'
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
4, (millions of U.S. dollars, except margins)~
~
Total
Constant
Currency
Recurring revenues~
!~
~
4%
4%
Transactions revenues~
Z~
6
4%
5%
Revenues~
%~
#
4%
4%
! Segment adjusted EBITDA~
~
j
3%
2%
DlqeYMQlk. !"#$%&( Segment adjusted EBITDA margin
34.4%
34.8%
(40)bp
(60)bp !!!!!!!!!! !
!!!
!!!"#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/x2&=PF0*8X>
@*&&%%$$
l 'f #
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }
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'
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
4, (millions of U.S. dollars, except margins)~
~
Total
Constant
Currency
Recurring revenues~
~
v
7%
8%
Transactions revenues~
~
(6%)
(6%)
Revenues~
Z~
4%
5%
! Segment adjusted EBITDA~
.~
n
(4%)
(4%)
DlqeYMQlk* !"#$%&( Segment adjusted EBITDA margin
31.9%
34.7%
(280)bp
(320)bp !!!!!!!!!! !
!!!
!!!"#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/x0$=PF0*8X>
@*&&%%$$
l 'NQ
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }
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'
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
4, (millions of U.S. dollars, except margins)~
~
Total
Constant
Currency
Recurring revenues~
J
~
4%
7%
Transactions revenues~
"~
&
(1%)
1%
Revenues~
j~
4%
6%
! Segment adjusted EBITDA~
F~
8%
9%
DlqeYMQl, !"#$%&( Segment adjusted EBITDA margin
34.4%
32.9%
150bp
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!!!
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@*&&%%$$
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }
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*
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
4, (millions of U.S. dollars, except margins)~
~
Total
Constant
Currency
Recurring revenues~
&~
32%
29%
Transactions revenues~
~
(11%)
(7%)
Revenues~
~
25%
24%
D3lqeYMi9J'[5i=q5U !"#$%&'()! Segment adjusted EBITDA ~
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(19%) !!!!!!!!!! !
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(# Segment adjusted EBITDA margin###7.3%####9.1%## #
#(180)bp##
##(310)bp#$$$$$$$$$$ $
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$$$%&$'____________________________1()Created by Morningstar Document Research.0)(http://documentresearch.morningstar.com/6E ;/#=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }
$ }}$ }y
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#
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
Change
4, (millions of U.S. dollars, except margins)~
~
Total
Constant
Currency
Revenues~
b~
(5%)
(3%)
! Segment adjusted EBITDA~
~
>
(4%)
(4%)
( Segment adjusted EBITDA margin
44.0%
43.8%
20bp
(30)bp
D\lqeYMi9J' =D< !"$ ____________________________1!)Created by Morningstar Document Research.0"(http://documentresearch.morningstar.com/
(=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I"}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,
$ (millions of U.S. dollars)~
~
Corporate costs~
J~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6qeYM^:
a=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }0}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/20193+Results of Operations Continuing Operations
Year ended December 31,$
(millions of U.S. dollars)
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }*}$ } }$ } }$
!
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03/13/2019kcFree cash flow. The increase in free cash flow reflected the same factors as cash from operating ac
Year ended December 31,
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~
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }$
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }7}$ } }$ } }$
6
"THOMSON REUTERS CORP /CAN/40F
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }m)}$ } }$ } }
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4)
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$4}$ }0}$ }!}$ }$
8
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Outlook
2018 Actual
2019 Outlook
2020 Outlook% NonIFRS Financial Measures
Revenues4% (1)7.0% ? 8.5% (2)3.5% ? 4.5% Adjusted EBITDA$1.4 billion#$1.4 billion ? $1.5 billionn/a Adjusted EBITDA marginn/an/a
30.0% ? 31.0% Total Corporate costs$499 million (3)"Approximately $570 million#$140 million ? $190 million Core Corporate costs$140 million"Approximately $140 million"Approximately $140 million Stranded costs$87 million"Approximately $100 million&Approximately $0 ? $50 millionD`l}qvK85}}M !"#$%&'()*+,./01234567 OneTime costs $272 million " Approximately $330 million ?!!!!!!!""""# Free cash flow##$1.1 billion##$0 ? $300 million###$1.0 billion ? $1.2 billion$$$$$$$%%%%/&' Capital expenditures, as a percentage&&Approximately 10%&&Approximately 9%&&7.5% ? 8.0%'of revenues''''''())))3*+ Depreciation and amortization of computer**$510 million*#*$600 million ? $625 million**To be determined+software++++++,. Interest expense..$260 million.#.$150 million ? $175 million..To be determined///////000011) Effective tax rate on adjusted earnings1115%11 16% ? 19%11Approximately 20%222222234$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/4Y sS({o?N0$=PF0*8X>
@776655
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }7
9
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Outlook
RevenuesMaterial assumptionsMaterial risks.
&? ?Gross domestic product (GDP) growth
5
? ?Global economic uncertainty due to factors3+in the United States (77% of 2018 revenues)%including continued regulatory reform1)and secondarily, in other countries where5around the world and changes in the political
we operate4,environment may limit business opportunities0(for our customers, lowering their demand/'? ?Continued increase in the demand and%for our products and services3+need for high quality information and tools7/that help automate or manage workflow solutions/'? ?Demand for our products and services%and drive productivity and efficiency/'could be reduced by changes in customer4,buying patterns, or our inability to execute6.on key product or customer support initiatives.&? ?Continued need for trusted products1)and services that help customers navigate4,evolving and complex legal, tax, accounting,6.? ?Pressure on certain customers may constrain2*regulatory and geopolitical and commercial,$the number of professionals employed.&changes, developments and environments2*? ?Competitive pricing actions and product2*? ?Continued increase in customers seeking,$innovation could impact our revenues2*softwareasaservice or other cloudbasedD
l}qMAXj\
#7lb !"#$%&'()*+,./012345678 offerings 1 )? ?Our sales and products initiatives may!!.!&be insufficient to retain customers or0"(? ?Continued growth in our recurring and""generate new sales#%transaction revenues which exceed the0$(anticipated declines in our Global Print%business&4',? ?Acquisition of new customers by enhancing.(&our digital platforms and propositions+)#and through other sales initiatives*4+,? ?Improvement in customer retention through,%commercial simplification efforts and%customer service improvements.4/,? ?Continued ability to combine information,30+technology and human expertise in offerings/1'that meet evolving customer demands and
2needs33345$6____________________________17)Created by Morningstar Document Research.08(http://documentresearch.morningstar.com/6:`}EoF:cWK#=PF0*8X>
@"887766
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }=}$ }$4
)
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Outlook 2
*Adjusted EBITDA and Adjusted EBITDA marginMaterial assumptionsMaterial risks0
(? ?Our ability to achieve revenue growth
1
)? ?Same as the risks above related to thetargetsrevenue outlook;3? ?Business mix continues to shift to highergrowth3+? ?The costs of required investments exceedproduct offerings0(expectations or actual returns are belowexpectations2*? ?Continued investment in growth markets,%customer service, product development0(? ?Acquisition and disposal activity may and digital capabilities%dilute adjusted EBITDA margin/'? ?Our ability to reduce stranded costs0(? ?The costs that we incur to reposition91related to the F&R transaction and the separation%our business following the separation2*of the two businesses are in line with our2*of F&R from the rest of the company may be3+estimates and less than $50 million in 2020( higher than current expectations0(? ?Our cost base reductions may be lower91? ?Successful execution of a number of efficiency!than current expectations1)initiatives that are expected to generate1)cost savings, such as reducing headcount,D
l}qMA8X}*K !"#$%&'(3 +office locations and the number of products1!)offered by our company and the leveraging"%of fewer, shared technology platforms###$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/c?3'=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }8
!
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Outlook
Free Cash FlowMaterial assumptionsMaterial risks7
/? ?Our ability to achieve our revenue, adjusted
1
)? ?Same as the risks above related to the1)EBITDA and adjusted EBITDA margin targets%revenue, adjusted EBITDA and adjustedEBITDA margin outlook.&? ?Capital expenditures expected to be.&? ?A weaker macroeconomic environment0(approximately 9% of revenues in 2019 and/'could negatively impact working capital1)between 7.5% and 8.0% of revenues in 2020performance2*? ?Capital expenditures may be higher than.¤tly expected resulting in higher
cash outflows0(? ?The timing and amount of tax payments7/to governments may differ from our expectations$____________________________1)Created by Morningstar Document Research.Dl}qMA'M~CV2ocW 0 (http://documentresearch.morningstar.com/H=PF0*8X>
@"
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ }7
$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Outlook /
'Effective tax rate on adjusted earningsMaterial assumptionsMaterial risks5
? ?Our ability to achieve our adjusted EBITDA
6
.? ?Same as the risks above related to adjustedtargetEBITDA0(? ?The mix of taxing jurisdictions where0(? ?A material change in the geographical.&we recognized pretax profit or losses%mix of our pretax profits and losses%in 2018 does not significantly change0(? ?A material change in current tax laws0(? ?No unexpected changes in tax laws and0(or treaties to which we are subject, and/'treaties within the jurisdictions wheredid not expectwe operate.4,? ?Depreciation and amortization of computer4,? ?Depreciation and amortization of computer0(software as well as interest expense may.&software between $600 and $625 million6.be significantly higher or lower than expectedin 2019.1)? ?Interest expense between $150 and $175million in 2019.Dl}qMA1iei) !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/<=PF0*8X>
@"##""!!
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ }I"}$ }I"}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019"Related Party Transactions "
(millions of U.S. dollars)
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party TransactionsAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }I;}$ }8}$ }*
.
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix A
How We Define It

%Why We Use It and Why It Is Useful to
Most Directly Comparable Investors#IFRS Measure/Reconciliation
/' Segment adjusted EBITDA, consolidated/'adjusted EBITDA and the related margins3+Segment adjusted EBITDA represents earnings/'Provides a consistent basis to evaluate+#Earnings from continuing operations%from continuing operations before tax/'operating profitability and performance1)expense or benefit, net interest expense,0(trends by excluding items that we do not4,other finance costs or income, depreciation,.&consider to be controllable activities7/amortization of software and other identifiablefor this purpose.0(intangible assets, our share of posttax80earnings or losses in equity method investments,.&Represents a measure commonly reported1)other operating gains and losses, certain3+and widely used by investors as a valuation80asset impairment charges, fair value adjustments%metric. Additionally, this measure is$and corporate related items.7/used to assess our ability to incur and service
debt.1)Consolidated adjusted EBITDA is comprised7/of segment adjusted EBITDA from each reportable$segment and Corporate costs.D
lzn2k]QE$9Q !"#$%&'()*+, 9!1The related margins are expressed as a percentage"of revenues.#3$+ Adjusted EBITDA less capital expenditures%and the related margin&'2(*Adjusted EBITDA less capital expenditures.(5(Provides a basis for evaluating the operating(+(#Earnings from continuing operations7)/The related margin is expressed as a percentage).)&profitability and capital intensity of*of revenues.*4*,a business in a single measure. This measure$+____________________________1,)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/ \:."lo=PF0*8X>
@:,,++%%$$
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }=}$ }:}$ }$4
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix A
How We Define It

%Why We Use It and Why It Is Useful to
Most Directly Comparable Investors#IFRS Measure/Reconciliation
,$ Adjusted earnings and adjusted EPS#Net earnings and per share:3+Provides a more comparable basis to analyze3+Net earnings and diluted earnings per share/'earnings and is also a measure commonly1)? ?excluding the posttax impacts of fair80used by shareholders to measure our performance.0(value adjustments, amortization of other%identifiable intangible assets, other6.operating gains and losses, certain impairment3+charges, other net finance costs or income,0(our share of posttax earnings or losses2*in equity method investments, discontinued;3operations and other items affecting comparability.0(We calculate the posttax amount of each2*item excluded from adjusted earnings based:2on the specific tax rules and tax rates associated0(with the nature and jurisdiction of eachD lzn2k{?Ge+K !"#$%&'()*+,./0123456789:;<=>?
item.!0"(? ?We also deduct dividends declared on#preference shares.$$$$$0%(Adjusted EPS is calculated using diluted &weightedaverage shares.'''''7(/In interim periods, we also adjust our reported(/('Because the geographical mix of pretax2)*earnings and earnings per share to reflect)1))profits and losses in interim periods may6*.a normalized effective tax rate. Specifically,*1*)be different from that for the fullyear,1+)the normalized effective rate is computed+5+our effective tax rate computed in accordance0,(as the estimated fullyear effective tax,2,*with IFRS may be more volatile by quarter.1)rate applied to pretax adjusted earnings5Therefore, we believe that using the expected5.of the interim period. The reported effective..%fullyear effective tax rate provides6/.tax rate is based on separate annual effective/1/)more comparability among interim periods.50income tax rates for each taxing jurisdiction010)The adjustment to normalize the effective11)that are applied to each interim period?s101(tax rate reallocates estimated fullyear2pretax income.22%income taxes between interim periods,3323*but has no effect on full year tax expense444or on cash taxes paid.56
Net debt78999994:,Total indebtedness, including the associated:7:/Provides a commonly used measure of a company?s::%Total debt (current indebtedness plus.;&fair value of hedging instruments, but;; leverage.;;longterm indebtedness),<$excluding the associated unamortized<<3=+transaction costs and premiums or discounts=6=.Given that we hedge some of our debt to reduce5>and the interestrelated fair value component>/>'risk, we include hedging instruments as2?*of hedging instruments, less cash and cash?/?'we believe it provides a better measureDlU!GUeue+ w/@ABCDEFGHIJKLMNOPQRST@equivalents.@/@'of the total obligation associated withAA.A&our outstanding debt. However, becauseBB5Bwe intend to hold our debt and related hedgesCC4C,to maturity, we do not consider the interestDD/D'components of the associated fair valueEE0E(of hedges in our measurements. We reduceFF8F0gross indebtedness by cash and cash equivalents.G1H) Free cash flow (includes free cash flow4I,from continuing and discontinued operations)JKLMM/M'Helps assess our ability, over the longM1M)Net cash provided by operating activities2N*Net cash provided by operating activities,N2N*term, to create value for our shareholders/O'proceeds from disposals of property andO0O(as it represents cash available to repayPPHequipment, and other investing activities, ____________________________WQOless capital expenditures, dividends Created by Morningstar Document Research.^RVpaid on our preference shares, and dividends http://documentresearch.morningstar.com/.S&paid to noncontrolling interests from Tdiscontinued operations..L_s'ZNB62k=PF0*8X>
@:RRQQPPIIHH66
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }7}$ }U5}$ }2

"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix A
How We Define It

%Why We Use It and Why It Is Useful to
Most Directly Comparable Investors#IFRS Measure/Reconciliation
+# Return on invested capital (ROIC)1)Adjusted operating profit after net taxes0(Provides a measure of how efficiently we2*IFRS does not require a measure comparable5paid expressed as a percentage of the average3+allocate resources to profitable activities1)to ROIC. Refer to our calculation of ROIC4,adjusted invested capital during the period.2*and is indicative of our ability to create1)in Appendix D for a reconciliation of the#value for our shareholders.1)components in the calculation to the most)!directly comparable IFRS measure.7/ Changes before the impact of foreign currency!or at ?constant currency?%Applicable measures where changes are1)Provides better comparability of business/'For each nonIFRS measure, refer to the6.reported before the impact of foreign currency%trends from period to period./'definitions above for the most directly!or at ?constant currency?comparable IFRS measureD
lzn2k@4(t !"#$%&'()*+, 2 *Our reporting currency is the U.S. dollar.!IFRS Measures:!4!,However, we conduct activities in currencies(" ____________________________@#8? ?Revenues Created by Morningstar Document Research.5$ http://documentresearch.morningstar.com/%? ?Operating expenses%2%*which means that we apply the same foreign&&/&'currency exchange rates for the current'NonIFRS Measures:'1')and equivalent prior period. To calculate((4(,the foreign currency impact between periods,.)&? ?Adjusted EBITDA and adjusted EBITDA)3)+we convert the current and equivalent prior*margin**%period?s local currency results using++0+(the same foreign currency exchange rate.,? ?Adjusted EPST(HN=PF0*8X>
@2$$##""
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)Appendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }6}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
' Three months ended December 31,
Year ended December 31, 2
*(millions of U.S. dollars, except margins)
~
~
Change
~
~
Change
2*(Loss) earnings from continuing operations~
~
n/m
~
~
(72%)Adjustments to remove:
Tax (benefit) expense
~
~
~
6
~
$Other finance (income) costs~
~
f
~
~
Net interest expense~
N~
^
~
~
5Amortization of other identifiable intangible~
j~
~
~
assets)!Amortization of computer software~
~
r
~
B~
Depreciation~
n~
r
~
~
EBITDA~
b~
Z
~
~
Adjustments to remove:
1)Share of posttax losses in equity method~
f~
~
R~
investments"Other operating gains, net~
~
~
~
BFair value adjustments~
~
~
~
Adjusted EBITDA~
v~
b
(30%)
~
V~
(14%)3+Deduct: capital expenditures, less proceeds~
~
~
~
from disposals1)Adjusted EBITDA less capital expenditures~
~
f
(54%)
~
V~
(26%)Adjusted EBITDA margin
18.8%
28.9%
(1010)bp
24.8%
30.0%(520)bp1)Adjusted EBITDA less capital expenditures8.5%
19.9%
(1140)bp
14.3%
20.2%(590)bpDTlznBN]
dRA5o !"#$ margin!$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/P=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ } }$ } }
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!!!!!!!!!!!!!!!!!!!"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
' Three months ended December 31, Year ended December 31,
Change
Change
3+(millions of U.S. dollars, except per share~
~
Total
Constant~
~
TotalConstant
CurrencyCurrency
amounts and share data)Net earnings~
*5~
>
476%
~
?~
177% Adjustments to remove:
Fair value adjustments~
~
~
~
5Amortization of other identifiable intangible~
j~
~
~
assets"Other operating gains, net~
~
~
~
B $Other finance (income) costs~
~
f
~
~
1)Share of posttax losses in equity method~
f~
~
R~
investmentsTax on above items (1)~
"~
~
~
%Tax items impacting comparability (1)~
j~
~
~
.&Earnings from discontinued operations,~
~
~
~
~
*
net of tax7/Interim period effective tax rate normalization~
~
"
~
~
/'Dividends declared on preference shares~
~
~
~
Adjusted earnings~
~
~
(29%)
~
~
(25%) Adjusted EPS?)\(?
(9%)
(18%)?Gz?
(20%)
(22%) .&Diluted weightedaverage common sharesfffff:@~
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
'
Three months ended December 31,
Year ended December 31,
"(millions of U.S. dollars)~
~
~
~
0(Net cash (used in) provided by operating~
~
~
:
~
activitiesCapital expenditures~
~
~
~
/'Proceeds from disposals of property and~
~
~
n
~
equipment.&Capital expenditures from discontinued~
~
>
~
Z
~
F
operations"Other investing activities~
~
~
J
~
J4,Other investing activities from discontinued~
~
~
~
operations+#Dividends paid on preference shares~
~
~
~
3+Dividends paid to noncontrolling interests~
~
~
~
$from discontinued operationsFree cash flow~
f~
~
N
~
"$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BXzn~
=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ } }$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
' Three months ended December 31,
Change
"(millions of U.S. dollars)~
~
Total
ForeignConstant
CurrencyCurrency
Revenues~
^ ~
3%
(1%)
4%
Legal Professionals
~
5%
(2%)
7%
Corporates~
~
4%
(4%)
8%Tax Professionals~
~
.
107%
(4%)111%Reuters News~
n
~
n
(7%)
(3%)(4%)Global Print~
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@*))((''
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }2}$ } }$ } }
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C
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
' Three months ended December 31,
Change
2*(millions of U.S. dollars, except margins)~
~
Total
ForeignConstant
CurrencyCurrency
Adjusted EBITDA
~
v
Legal Professionals~
19%
2%17%
Corporates~
^~
(12%)
1%
(13%)
Tax Professionals~
~
22%
1%21%
Reuters News~
~
n/m
n/mn/m
Global Print~
b~
z
(6%)
(1%)(5%)
Dlznr#C7;/ !"#$%&'()*+,./0123456789:;<=>?
!Corporate costs!!~
!V!!!~
!!! !
!n/a!!
!!n/a!!!!n/a!"""""""""" "
"""
"""""""########## #
###
#######$$Consolidated adjusted EBITDA$$~
$v$$$~
$b$$ $
$(30%)$$
$
$3%$$$
$(33%)$%%%%%%%%%% %
%%%
%%%%%%%&&&&&&&&&& &
&&&
&&&&&&&'(Adjusted EBITDA margin)))))))))) )
)))
)))))))********** *
***
*******+Legal Professionals++
+36.9%+++
+31.9%++ +
+500bp++
+
+100bp+++
+400bp+,,,,,,,,,, ,
,,,
,,,,,,, 

.
Corporates..
.27.6%...
.32.9%.. .
.(530)bp..
..80bp....(610)bp.////////// /
///
///////0000000000 0
000
00000001Tax Professionals11
147.6%111
140.6%11 1
1700bp11
1
1170bp111
1530bp12222222222 2
222
22222223333333333 3
333
33333334Reuters News4443.9%4444(2.7%)44 4
4660bp44
4
4330bp444
4330bp45555555555 5
555
55555556666666666 6
666
66666667Global Print77
743.3%777
742.9%77 7
740bp77
7790bp7777(50)bp78888888888 8
888
88888889999999999 9
999
9999999:Corporate costs:::n/a::::n/a:: :
:n/a::
::n/a::::n/a:;;;;;;;;;; ;
;;;
;;;;;;;<<<<<<<<<< <
<<<
<<<<<<<+=#Consolidated adjusted EBITDA margin==
=18.8%===
=28.9%== =
=(1010)bp==
=
=110bp====(1120)bp=>?DllptNRV59=!%@AB$@____________________________1A)Created by Morningstar Document Research.0B(http://documentresearch.morningstar.com/
(=PF0*8X>
@*BBAA@@
l S
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ } }$ } }
$ }}$ }y
}$ }y
}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
' Three months ended December 31,
Change
%(millions of U.S. dollars, except per~
~
Total
ForeignConstantshare amounts)
CurrencyCurrency
'Consolidated operating expenses~
:~
22%
(5%)27%
!Consolidated adjusted EPS?)\(?
(9%)
9%
(18%)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6
znr#H.26
a=PF0*8X>
@*
l .
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ } }$ } }
$ }}$ }y
}$ }y
}$
.
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
Year ended December 31,
Change
"(millions of U.S. dollars)~
~
Total
ForeignConstant
CurrencyCurrency
Revenues
~
%~
#
4%
~
4%Legal Professionals
Corporates~
Z~
4%
(1%)
5%
Tax Professionals~
j~
4%
(2%)
6%
Reuters News~
~
25%
1%24%
D5lznr+[OS?CGA"&* !"#$%&'()*+,
!Global Print!!~
!b!!!~
!!! !
!(5%)!!
!!(2%)!!!!(3%)!"""""########## #
###
#######$$$$$$$~
$$%Eliminations%%~
%%%%%%&&&&&&&&&& &
&&&
&&&&&&&'''~
'U'''~
'R'' '
'4%''
'~
''''
'4%'(Consolidated revenues((((((((( (
(((
((((((()*$+____________________________1,)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/ Fy=PF0*8X>
@*,,++
l A

dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }2}$ } }$ } }
$ }I }$ }y
}$ }y
}$
A
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
Year ended December 31,
Change
2*(millions of U.S. dollars, except margins)~
~
Total
ForeignConstant
CurrencyCurrency
Adjusted EBITDA
Legal Professionals~
~
j
3%
1%
2%
Corporates~
.~
n
(4%)
~
(4%)
Tax Professionals~
F~
8%
(1%)
9%
Reuters News~
n~
n
~
19%
(19%)
Global Print~
~
>
(4%)
~
(4%)
Dlznr+K?C(,0 !"#$%&'()*+,./0123456789:;<=>? Corporate costs ~
~
r
n/a
n/a n/a !!!!!!!!!! !
!!!
!!!!!!!"""""""""" "
"""
"""""""$#Consolidated adjusted EBITDA##~
#V###~
### #
#(14%)##
#
#1%###
#(15%)#$$$$$$$$$$ $
$$$
$$$$$$$%%%%%%%%%% %
%%%
%%%%%%%&Adjusted EBITDA margin'''''''''' '
'''
'''''''(((((((((( (
(((
((((((()Legal Professionals))
)34.4%)))
)34.8%)) )
)(40)bp))
))20bp))))(60)bp)********** *
***
*******++++++++++ +
+++
+++++++,
Corporates,,
,31.9%,,,
,34.7%,, ,
,(280)bp,,
,,40bp,,,,(320)bp, 

.......... .
...
......./Tax Professionals//
/34.4%///
/32.9%// /
/150bp//
//60bp////90bp/0000000000 0
000
00000001111111111 1
111
11111112Reuters News2227.3%22229.1%22 2
2(180)bp22
2
2130bp2222(310)bp23333333333 3
333
33333334444444444 4
444
44444445Global Print55
544.0%555
543.8%55 5
520bp55
5550bp5555(30)bp56666666666 6
666
666666677777777n/a77 7
777
77777778Corporate costs888n/a888888 8
8n/a88
88n/a8888n/a89999999999 9
999
9999999:::::::
:30.0%:: :
:(520)bp::
::40bp::::(560)bp:+;#Consolidated adjusted EBITDA margin;;
;24.8%;;;;;; ;
;;;
;;;;;;;<=$>____________________________1?)Created by Morningstar Document Research.Dlsw{W[_<@D$()@0@(http://documentresearch.morningstar.com/H=PF0*8X>
@*@@??>>
l f
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ } }$ } }
$ }}$ }y
}$ }y
}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
Year ended December 31,
Change
%(millions of U.S. dollars, except per~
~
Total
ForeignConstantshare amounts)
CurrencyCurrency
'Consolidated operating expenses~
@~
9
11%
(2%)13%
!Consolidated adjusted EPS?Gz?
(20%)
2%
(22%)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6
znr+P6:>h=PF0*8X>
@*
l )
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }0}$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix B
'Three months ended December 31,
( (weightedaverage common shares)~
IFRS: Basic and diluteddA0(Effect of stock options and other equity~
JJincentive awardsNonIFRS dilutedy&nA$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/BM XznwS/5b4=PF0*8X>
@"
l %VW
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)Appendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }1}$ }}$ }}
$ }}$ }}$
%
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix C
'
Three months ended December 31,
Change
1)(millions of U.S. dollars, except margin) RefinitivAs Reported
Total
BeforeActuals
by
Currency &
Purchase~
Thomson
AccountingReuters
Adjustments~
IFRS Measures
Revenues~
:~
1%
3%
Net loss~
!Cash flow from operations~
Capital expenditures~
!Debt at December 31, 2018~
%Preferred equity at December 31, 2018~
NonIFRS Measures
Adjusted EBITDA~
Adjusted EBITDA margin
31.4%
Free cash flow~
J
D<lzn;i:f;b]1T !"#$ !$"____________________________1#)Created by Morningstar Document Research.0$(http://documentresearch.morningstar.com/
P=PF0*8X>
@*$$##""
l ?y
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }1}$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix C
'
Three months ended December 31,
1)(millions of U.S. dollars, except margin)~
Net loss
~
Adjustments to remove:Tax benefit~
Finance costs~
&%Depreciation and amortization~
bEBITDA~
*Adjustments to remove:Other operating losses~
^Fair value adjustments~
$Transformation related costs~
2Adjusted EBITDA~
Adjusted EBITDA margin
31.4%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@xDzn2Lk /}qI=PF0*8X>
@"
l ʗ
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$4}$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix C
'
Three months ended December 31,
"(millions of U.S. dollars)~
1
)Net cash provided by operating activities
~
Capital expenditures~
3+Dividends paid to noncontrolling interests~
Free cash flow~
J$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0tzn2[9=PF0*8X>
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l /D
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }:}$ } }$ } }$
/
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Appendix D" (millions of U.S. dollars) ~
~
0
(Calculation of adjusted operating profit
after taxesOperating profit~
2~
*
Adjustments to remove:
5Amortization of other identifiable intangible~
~
assetsFair value adjustments~
~
"Other operating gains, net~
~
B.&Adjusted operating profit ? continuing~
~
operations4,Net cash taxes paid on continuing operations~
~
6.Posttax adjusted operating profit continuing~
N ~
operations80Post?tax adjusted operating profit discontinued~
Z~
6
operations0(Consolidated posttax adjusted operating~
~
"profit'Calculation of invested capital#Trade and other receivables~
~
1)Prepaid expenses and other current assets~
~
%Computer hardware and other property,~
f~
fnetD#
lznxM.v`&pZ% ! " # $ % & ' ( ) * + ,  . Computer software, net ~
2 ~
,!$Other identifiable intangible assets!!~
!Z!!!~
!!+"#(excludes accumulated amortization)#Goodwill (1)##~
#BA###~
##)$!Payables, accruals and provisions$$~
$$$$~
$j$%Deferred revenue%%~
%F%%%~
%^%&%Present value of operating leases (2)&&~
&&&&~
&&"'Total invested capital (3)''~
''''~
'^' (Average invested capital((~
(:(((~
(F(")Return on invested capital)))9.7%))))7.7%)*+$,____________________________1)Created by Morningstar Document Research.0.(http://documentresearch.morningstar.com/"z;*=PF0*8X>
@..,,
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ }}U}$ }m}
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03/13/201991Other identifiable intangible assets and goodwill
CashGenerating Unit
Perpetual growth rate~
Discount rate
Tax rate
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@ %7.4%
36.6%
Tax & Accounting
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Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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Appendix F
2
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amounts)
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }<}$ }m}
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03/13/2019
Appendix G
Quarters ended
5 (millions of U.S. dollars, except per shareDecember 31,
September 30,
June 30,
March 31,December 31,
September 30,June 30, March 31,
amounts)~
~
~
~
~
~
~
~
Revenues~
~
2
~
~
~
~
~
~
~
Operating profit~
J~
~
2
~
2~
~
~
j~
J
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix GIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }}$ }U5
"THOMSON REUTERS CORP /CAN/40F
03/13/2019H@Management s Report on Internal Control Over Financial Reporting
James C. Smith
Stephane Bello%President and Chief Executive Officer4,Executive Vice President and Chief FinancialOfficer
March 13, 2019$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,s\PD8;=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }}$ } }$ } }
$
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019Income Statement
Year ended December 31,
3+(millions of U.S. dollars, except per share
Notes~
~
amounts)
CONTINUING OPERATIONS
Revenues~
!~
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Operating expenses~
!~
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Net interest expense~
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome Statement
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }=}$ }}$ } }
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8
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Income Statement
Year ended December 31, "
(millions of U.S. dollars)
Notes
~
~
Net earnings~
?
~
*
"Other comprehensive income (loss):
3+Items that have been or may be subsequently
%reclassified to net earnings:4,Cash flow hedges adjustments to net earnings~
!R~
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.&Cash flow hedges adjustments to equity~
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~
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!R~
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)!loss in equity method investments,$Reclassification of foreign currency~
!R~
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~
.&translation adjustments on disposal ofbusiness~
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }U5}$ }}$ } }$ } }
$
9
"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Balance Sheet
December 31,
"
(millions of U.S. dollars)
Notes
~
~
ASSETS
!Cash and cash equivalents~
!6~
J*~
#
Trade and other receivables
~
!:
~
~
Other financial assets~
!R~
2~
1)Prepaid expenses and other current assets~
!>~
~
Current assets~
F~
.
%Computer hardware and other property,~
!B~
f~
f
netComputer software, net~
!F~
2~
%Other identifiable intangible assets,~
!J~
3~
S
netGoodwill~
!N~
RO~
!Equity method investments~
!&~
~"~
Other financial assets~
!R~
~
N
Other noncurrent assets~
!V~
~
Deferred tax~
!b~
~~
>
Total assets~
^
~
LIABILITIES AND EQUITY
Liabilities
Current indebtedness~
!R~
~
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22223Contingencies (note 30)333333333 3
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }8}$ }}$ } }
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"THOMSON REUTERS CORP /CAN/40F
03/13/2019
Cash Flows
Year ended December 31, "
(millions of U.S. dollars)
Notes
~
~
#Cash provided by (used in):
OPERATING ACTIVITIES
+
#Earnings from continuing operations
~
~
Adjustments for:
Depreciation~
~
)!Amortization of computer software~
B
~
5Amortization of other identifiable intangible~
~
assets0(Net gains on disposals of businesses and~
~
rinvestmentsDeferred tax~
b~
f
~
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~
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n~
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~
7/Operating cash flows from continuing operations~
~
.&Operating cash flows from discontinued~
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~
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~
INVESTING ACTIVITIES
*"Acquisitions, net of cash acquired~
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2
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4
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6
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8
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~
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B6BBB~
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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"THOMSON REUTERS CORP /CAN/40F
03/13/20193+CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
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R+R,ST$U____________________________1V)Created by Morningstar Document Research.0W(http://documentresearch.morningstar.com/4>Tj0X=PF0*8X>
@8WW,VV,UU,666655555555&'444444
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANGIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }*}$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019,$Computer hardware and other property Computer hardware 3 years +
#Buildings and building improvements
1040 years
)!Furniture, fixtures and equipment 57 years
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/& @xl`TZ=PF0*8X>
@
l 3G
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other pro!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }$}$ }}$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019Intangible assets Trade names
320 years
Customer relationships
630 years
Databases and content
530 years
Other1030 years
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(:Tsg+~#=PF0*8X>
@
l $lm
dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??
EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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03/13/2019NFPronouncements effective for annual periods beginning January 1, 2019: ~
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
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Outlook (1)
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Appendix AAppendix A (1)Appendix A (2)
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Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (9)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
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wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective f (10)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }0}$ } }$ } }$
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03/13/2019NFPronouncements effective for annual periods beginning January 1, 2019: Year ended December 31,
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive SummaryExecutive Summary (1)!Dispositions As part of our con!Dispositions As part of our (1)!Results of Operations Continuin!Results of Operations Conti (1)!Results of Operations Conti (2)!Results of Operations Conti (3)!Results of Operations Conti (4)!Results of Operations Conti (5)!Results of Operations Conti (6)!Results of Operations Conti (7)!Results of Operations Conti (8)!Results of Operations Conti (9)!Results of Operations Cont (10)!Results of Operations Cont (11)!Results of Operations Cont (12)!Results of Operations Cont (13)!Results of Operations Cont (14)!Results of Operations Cont (15)!Results of Operations Cont (16)!Results of Operations Cont (17)!Results of Operations Cont (18)!Results of Operations Cont (19)!Results of Operations Cont (20)!Results of Operations Cont (21)!Free cash flow Free cash flow d!Liquidity and Capital Resources!Free cash flow The increase in Free cash flow The increas (1) Free cash flow The increas (2) Free cash flow The increas (3) Free cash flow The increas (4) Outlook
Outlook (1)
Outlook (2)
Outlook (3)
Outlook (4)Related Party Transactions
Appendix AAppendix A (1)Appendix A (2)
Appendix BAppendix B (1)Appendix B (2)Appendix B (3)Appendix B (4)Appendix B (5)Appendix B (6)Appendix B (7)Appendix B (8)Appendix B (9)
Appendix CAppendix C (1)Appendix C (2)
Appendix D!Other identifiable intangible a
Appendix F
Appendix G!Management s Report on InternalIncome StatementIncome Statement (1)
Balance Sheet
Cash Flows!CONSOLIDATED STATEMENT OF CHANG!Computer hardware and other proIntangible assets!Pronouncements effective for an!Pronouncements effective fo (1)!Pronouncements effective fo (2)!Pronouncements effective fo (3)!Pronouncements effective fo (4)!Pronouncements effective fo (5)!Pronouncements effective fo (6)!Pronouncements effective fo (7)!Pronouncements effective fo (8)!Pronouncements effective fo (9)!Pronouncements effective f (11)!Pronouncements effective f (12)!Pronouncements effective f (13)!Pronouncements effective f (14)!Pronouncements effective f (15)!Pronouncements effective f (16)!Pronouncements effective f (17)!Pronouncements effective f (18)!Pronouncements effective f (19)!Pronouncements effective f (20)!Pronouncements effective f (21)!Pronouncements effective f (22)!Allowance for doubtful accounts!Allowance for doubtful acco (1)!Allowance for doubtful acco (2)!Allowance for doubtful acco (3)!Allowance for doubtful acco (4)!Allowance for doubtful acco (5)!Allowance for doubtful acco (6)!Allowance for doubtful acco (7)!Allowance for doubtful acco (8)!Allowance for doubtful acco (9)!Allowance for doubtful acc (10)!Allowance for doubtful acc (11)!Allowance for doubtful acc (12)!Allowance for doubtful acc (13)!Allowance for doubtful acc (14)!Allowance for doubtful acc (15)!Allowance for doubtful acc (16)!Allowance for doubtful acc (17)!Allowance for doubtful acc (18)!Allowance for doubtful acc (19)!Allowance for doubtful acc (20)!Allowance for doubtful acc (21)!Allowance for doubtful acc (22)!Allowance for doubtful acc (23)!Allowance for doubtful acc (24)!Allowance for doubtful acc (25)!Allowance for doubtful acc (26)!Allowance for doubtful acc (27)!Allowance for doubtful acc (28)!Allowance for doubtful acc (29)!Allowance for doubtful acc (30)!Allowance for doubtful acc (31)!Allowance for doubtful acc (32)!Allowance for doubtful acc (33)!Allowance for doubtful acc (34)!Allowance for doubtful acc (35)!Allowance for doubtful acc (36)!Allowance for doubtful acc (37)!Allowance for doubtful acc (38)!Allowance for doubtful acc (39)!Allowance for doubtful acc (40)!Allowance for doubtful acc (41)Pension Plan!Allowance for doubtful acc (42)!Allowance for doubtful acc (43)!Allowance for doubtful acc (44)!Allowance for doubtful acc (45)!Allowance for doubtful acc (46)!Allowance for doubtful acc (47)!Allowance for doubtful acc (48)!Allowance for doubtful acc (49)!Allowance for doubtful acc (50)Income Statement (2)!Allowance for doubtful acc (51)!Allowance for doubtful acc (52)!Allowance for doubtful acc (53)!Allowance for doubtful acc (54)!Allowance for doubtful acc (55)!Allowance for doubtful acc (56)!Allowance for doubtful acc (57)!Allowance for doubtful acc (58)!Allowance for doubtful acc (59)!Allowance for doubtful acc (60)!Allowance for doubtful acc (61)!Allowance for doubtful acc (62)Executive Officers DirectorsAudit Committee!Principal Accountant Fees and SIndependent DirectorsMarket for Securities Dividends
Dividends (1) Transfer Agents and Registrars!wwwsedarcom and in the EDGAR sePrincipal SubsidiariesPrincipal Subsidiaries (1)!Annual Information Form Form 51!Annual Information Form For (1)!Annual Information Form For (2)!Annual Information Form For (3)TABLE OF CONTENTSU }%}$ } }$ } }$
"THOMSON REUTERS CORP /CAN/40F
03/13/2019NFPronouncements effective for annual periods beginning January 1, 2019: December 31,
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$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hVJ>2wkC=PF0*8X>
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EXHIBIT INDEX!Information in this annual repowwwthomsonreuterscomwwwthomsonreuterscom (1)wwwthomsonreuterscom (2)wwwthomsonreuterscom (3)
Key BrandsKey Brands (1)
wwwtrustorgwwwtrustorg (1)!Thomson Reuters Founders Share Thomson Reuters Founders S (1)Executive Summary