Investments in joint ventures and associates (Tables)

12 Months Ended

Dec. 31, 2017

The amounts recognised in the balance sheet are as follows:

The amounts recognised in the income statement are as follows:

Principal
place of
business

Ownership
interest

Nature of
relationship

Measurement
method

Penguin Random House Ltd

UK/Global

See below

Equity

Penguin Random House LLC

See below

Equity

The summarised financial information of the material associate is detailed below:
	2017			2016
All figures in £ millions	Penguin Random House			Penguin Random House
Assets
Non-current assets		1,048			1,267
Current assets		1,758			1,587
Liabilities
Non-current liabilities		(859	)		(394	)
Current liabilities		(1,579	)		(1,074	)

Net assets		368			1,386

Sales		2,693			2,620

Profit for the year		171			209
Other comprehensive expense		(60	)		(14	)

Total comprehensive income		111			195

Dividends received from associate in relation to profits		146			131
Re-capitalisation dividends received from associate		312


A reconciliation of the summarised financial information to the carrying value of the material associate is shown below:	2017			2016
All figures in £ millions	Penguin Random House			Penguin Random House
Opening net assets		1,386			1,206
Exchange differences		(18	)		179
Profit for the year		171			209
Other comprehensive expense		(60	)		(14	)
Dividends, net of tax paid		(1,167	)		(194	)
Tax adjustments in relation to disposals		56			—

Closing net assets		368			1,386
Share of net assets		92			651
Goodwill		296			589

Carrying value of associate		388			1,240

Information on other individually immaterial associates is detailed below:

Information on joint ventures, all of which are individually immaterial, is detailed below:


All figures in £ millions	2017		2016
Profit/(loss) for the year		1		(1	)

Total comprehensive income/(expense)		1		(1	)