Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document And Entity Information [Abstract] | |
Entity Registrant Name | TELEFONICA S A |
Entity Central Index Key | 814,052 |
Document Type | 20-F |
Amendment Flag | false |
Entity Current Reporting Status | Yes |
Document Period End Date | Dec. 31, 2017 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Well Known Seasoned Issuer | Yes |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | FY |
Entity Common Stock, Shares Outstanding | 5,192,131,686 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
NON-CURRENT ASSETS | € 95,135 | € 103,667 |
Intangible assets | 18,005 | 20,518 |
Goodwill | 26,841 | 28,686 |
Property, plant and equipment | 34,225 | 36,393 |
Investments accounted for by the equity method | 77 | 76 |
Non-current financial assets | 8,167 | 9,765 |
Deferred tax assets | 7,820 | 8,229 |
CURRENT ASSETS | 19,931 | 19,974 |
Inventories | 1,117 | 1,055 |
Trade and other receivables | 10,093 | 10,675 |
Tax receivables | 1,375 | 1,533 |
Current financial assets | 2,154 | 2,954 |
Cash and cash equivalents | 5,192 | 3,736 |
Non-current assets classified as held for sale | 0 | 21 |
TOTAL ASSETS | 115,066 | 123,641 |
EQUITY AND LIABILITIES | ||
EQUITY | 26,618 | 28,385 |
Equity attributable to equity holders of the parent and other holders of equity instruments | 16,920 | 18,157 |
Equity attributable to non-controlling interests | 9,698 | 10,228 |
NON-CURRENT LIABILITIES | 59,382 | 59,805 |
Non-current financial liabilities | 46,332 | 45,612 |
Non-current trade and other payables | 1,687 | 1,925 |
Deferred tax liabilities | 2,145 | 2,395 |
Non-current provisions | 9,218 | 9,873 |
CURRENT LIABILITIES | 29,066 | 35,451 |
Current financial liabilities | 9,414 | 14,749 |
Current trade and other payables | 15,095 | 16,150 |
Current tax payables | 2,341 | 2,332 |
Current provisions | 2,216 | 2,220 |
TOTAL EQUITY AND LIABILITIES | € 115,066 | € 123,641 |
Consolidated Income Statements
Consolidated Income Statements - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Profit or loss [abstract] | |||
Revenues | € 52,008 | € 52,036 | € 54,916 |
Other income | 1,489 | 1,763 | 2,011 |
Supplies | (15,022) | (15,242) | (16,547) |
Personnel expenses | (6,862) | (8,098) | (10,349) |
Other expenses | (15,426) | (15,341) | (16,802) |
Depreciation and amortization | (9,396) | (9,649) | (9,704) |
OPERATING INCOME | 6,791 | 5,469 | 3,525 |
Share of income (loss) of investments accounted for by the equity method | 5 | (5) | (10) |
Finance income | 1,073 | 1,770 | 2,076 |
Exchange gains | 3,958 | 5,489 | 6,504 |
Finance costs | (3,363) | (4,476) | (4,417) |
Exchange losses | (3,867) | (5,002) | (6,772) |
Net financial expense | (2,199) | (2,219) | (2,609) |
PROFIT BEFORE TAX | 4,597 | 3,245 | 906 |
Corporate income tax | (1,219) | (846) | (155) |
PROFIT FOR THE YEAR | 3,378 | 2,399 | 751 |
Attributable to equity holders of the Parent | 3,132 | 2,369 | 616 |
Attributable to non-controlling interests | € 246 | € 30 | € 135 |
Basic and diluted earnings per share attributable to equity holders of the parent (EUR per share) | € 0.56 | € 0.42 | € 0.07 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of comprehensive income [abstract] | |||
Profit for the year | € 3,378 | € 2,399 | € 751 |
Other comprehensive (loss) income | (5,148) | 3,339 | (6,697) |
Gains (losses) on measurement of available-for-sale investments | 26 | (77) | 415 |
Income tax impact | 6 | 22 | (123) |
Reclassification of losses (gains) included in the income statement (Note 16) | 33 | 136 | (539) |
Income tax impact | 0 | (19) | 139 |
Other comprehensive income (loss), available-for-sale investments, net of tax | 65 | 62 | (108) |
Gains (Losses) on hedges | 62 | 498 | (14) |
Income tax impact | 6 | (120) | (37) |
Reclassification of losses (gains) included in the income statement (Note 16) | 162 | 54 | 207 |
Income tax impact | (40) | (14) | (58) |
Other comprehensive income, hedges, net of tax | 190 | 418 | 98 |
Share of gains (losses) recognized directly in equity of associates and others | 8 | (8) | 17 |
Income tax impact | (2) | 3 | (4) |
Reclassification of losses (gains) included in the income statement | 0 | 0 | 0 |
Income tax impact | 0 | 0 | 0 |
Other comprehensive income, share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of tax | 6 | (5) | 13 |
Translation differences (Note 12) | (5,422) | 3,152 | (6,762) |
Total other comprehensive (loss) income recognized in the period (Items that may be reclassified subsequently to profit or loss) | (5,161) | 3,627 | (6,759) |
Actuarial gains (losses) and impact of limit on assets for defined benefit pension plans | 14 | (378) | 94 |
Income tax impact | (1) | 90 | (32) |
Actuarial (losses) gains and impact of limit on assets for defined benefit pension plans, net of tax | 13 | (288) | 62 |
Total other comprehensive income (loss) recognized in the period (Items that will not be reclassified subsequently to profit or loss) | 13 | (288) | 62 |
Total comprehensive income (loss) for the year | (1,770) | 5,738 | (5,946) |
Attributable to: | |||
Equity holders of the parent and other holders of equity instruments | (1,186) | 4,630 | (4,535) |
Non-controlling interests | € (584) | € 1,108 | € (1,411) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - EUR (€) € in Millions | Total | Total | Share capital | Share premium | Treasury Shares | Other equity instruments | Legal reserve | Retained earnings | Available-for-sale investments | Hedges | Equity of associates and others | Translation differences | Non-controlling interests |
Financial position, beginning balance at Dec. 31, 2014 | € 30,321 | € 21,135 | € 4,657 | € 460 | € (1,586) | € 6,351 | € 984 | € 22,656 | € 55 | € (334) | € 24 | € (12,132) | € 9,186 |
Profit for the year | 751 | 616 | 616 | 135 | |||||||||
Other comprehensive income (loss) for the year | (6,697) | (5,151) | 43 | (108) | 103 | 12 | (5,201) | (1,546) | |||||
Total comprehensive income (loss) for the year | (5,946) | (4,535) | 659 | (108) | 103 | 12 | (5,201) | (1,411) | |||||
Dividends paid (Note 12) | (2,890) | (2,249) | 111 | (2,360) | (641) | ||||||||
Net movement in treasury shares | (1,586) | (1,586) | (1,511) | (75) | |||||||||
Acquisitions and disposals of non-controlling interests and business combinations (Note 5) | 2,424 | (114) | 555 | (1,297) | 628 | 2,538 | |||||||
Capital increase (Note 12) | 3,007 | 3,007 | 281 | 2,767 | (41) | ||||||||
Capital reduction | (74) | 886 | (812) | ||||||||||
Undated Deeply Subordinated Securities and Notes mandatorily convertible (Note 12) | 114 | 121 | 452 | (247) | (84) | (7) | |||||||
Other movements | (8) | (8) | (8) | ||||||||||
Financial position, ending balance at Dec. 31, 2015 | 25,436 | 15,771 | 4,975 | 3,227 | (1,656) | 6,803 | 984 | 18,475 | (53) | (231) | 36 | (16,789) | 9,665 |
Profit for the year | 2,399 | 2,369 | 2,369 | 30 | |||||||||
Other comprehensive income (loss) for the year | 3,339 | 2,261 | (267) | 62 | 422 | (5) | 2,049 | 1,078 | |||||
Total comprehensive income (loss) for the year | 5,738 | 4,630 | 2,102 | 62 | 422 | (5) | 2,049 | 1,108 | |||||
Dividends paid (Note 12) | (2,930) | (2,406) | 137 | 1 | (2,544) | (524) | |||||||
Net movement in treasury shares | (637) | (637) | (637) | ||||||||||
Acquisitions and disposals of non-controlling interests and business combinations (Note 5) | (7) | (7) | |||||||||||
Capital reduction | (74) | 813 | (739) | ||||||||||
Undated Deeply Subordinated Securities and Notes mandatorily convertible (Note 12) | 731 | 745 | 1,000 | (255) | (14) | ||||||||
Other movements | 54 | 54 | 54 | ||||||||||
Financial position, ending balance at Dec. 31, 2016 | 28,385 | 18,157 | 5,038 | 3,227 | (1,480) | 7,803 | 985 | 17,093 | 9 | 191 | 31 | (14,740) | 10,228 |
Profit for the year | 3,378 | 3,132 | 3,132 | 246 | |||||||||
Other comprehensive income (loss) for the year | (5,148) | (4,318) | 16 | 65 | 193 | 6 | (4,598) | (830) | |||||
Total comprehensive income (loss) for the year | (1,770) | (1,186) | 3,148 | 65 | 193 | 6 | (4,598) | (584) | |||||
Dividends paid (Note 12) | (2,602) | (2,019) | 2 | (2,021) | (583) | ||||||||
Net movement in treasury shares | 35 | 35 | 35 | ||||||||||
Acquisitions and disposals of non-controlling interests and business combinations (Note 5) | 1,843 | 1,194 | 754 | 449 | (9) | 649 | |||||||
Undated Deeply Subordinated Securities and Notes mandatorily convertible (Note 12) | 725 | 737 | 154 | 1,311 | (285) | (443) | (12) | ||||||
Other movements | 2 | 2 | 3 | (1) | |||||||||
Financial position, ending balance at Dec. 31, 2017 | € 26,618 | € 16,920 | € 5,192 | € 4,538 | € (688) | € 7,518 | € 987 | € 18,225 | € 74 | € 384 | € 37 | € (19,347) | € 9,698 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of cash flows [abstract] | |||
Cash received from operations | € 63,456 | € 63,514 | € 67,582 |
Cash paid from operations | (46,929) | (47,384) | (50,833) |
Net payments of interest and other financial expenses net of dividends received | (1,726) | (2,143) | (2,445) |
Taxes paid | (1,005) | (649) | (689) |
Net cash flow provided by operating activities | 13,796 | 13,338 | 13,615 |
(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net | (8,992) | (9,187) | (10,256) |
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 40 | 767 | 354 |
Payments on investments in companies, net of cash and cash equivalents acquired | (128) | (54) | (3,181) |
Proceeds on financial investments not included under cash equivalents | 296 | 489 | 1,142 |
Payments on financial investments not included under cash equivalents | (1,106) | (265) | (426) |
(Payments)/proceeds on placements of cash surpluses not included under cash equivalents | (357) | 42 | (557) |
Government grants received | 2 | 0 | 7 |
Net cash flow used in investing activities | (10,245) | (8,208) | (12,917) |
Dividends paid | (2,459) | (2,906) | (2,775) |
Proceeds from share capital increase | 2 | 0 | 4,255 |
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | 1,269 | (660) | (1,772) |
Operations with other equity holders | 646 | 656 | 83 |
Proceeds on issue of debentures and bonds, and other debts | 8,390 | 5,693 | 1,602 |
Proceeds on loans, borrowings and promissory notes | 4,844 | 10,332 | 8,784 |
Repayments of debentures and bonds, and other debts | (6,687) | (6,873) | (3,805) |
Repayments of loans, borrowings and promissory notes | (6,711) | (8,506) | (9,858) |
Financed operating payments and investments in property, plant and equipment and intangible assets payments | (1,046) | (1,956) | (126) |
Net cash used in financing activities | (1,752) | (4,220) | (3,612) |
Effect of changes in exchange rates | (341) | 185 | (1,000) |
Effect of changes in consolidation methods and others | (2) | 26 | 0 |
Net increase (decrease) in cash and cash equivalents during the year | 1,456 | 1,121 | (3,914) |
RECONCILIATION OF CASH AND CASH EQUIVALENTS WITH THE STATEMENT OF FINANCIAL POSITION | |||
CASH AND CASH EQUIVALENTS AT JANUARY 1 | 3,736 | 2,615 | 6,529 |
CASH AND CASH EQUIVALENTS AT DECEMBER 31 | 5,192 | 3,736 | 2,615 |
Cash on hand and at banks | 3,990 | 2,077 | 1,278 |
Other cash equivalents | € 1,202 | € 1,659 | € 1,337 |
Background and General Informat
Background and General Information | 12 Months Ended |
Dec. 31, 2017 | |
General Information About Financial Statements [Abstract] | |
Background and General Information | Background and general information Telefónica, S.A. and its subsidiaries and investees (“Telefónica”, “the Company”, the “Telefónica Group” or "the Group”) make up an integrated and diversified telecommunications group operating mainly in Europe and Latin America. The Group’s activity is centered around services of wireline and wireless telephony, broadband, internet, data traffic, Pay TV and other digital services. The parent company of the Group is Telefónica, S.A., a public limited company incorporated on April 19, 1924 for an indefinite period. Its registered office is at calle Gran Vía 28, Madrid (Spain). Appendix I lists the main companies composing the Telefónica Group, their corporate purpose, country, functional currency, share capital, the Group’s effective shareholding and their method of consolidation. As a multinational telecommunications company which operates in regulated markets, the Group is subject to different laws and regulations in each of the jurisdictions in which it operates, pursuant to which permits, concessions or licenses must be obtained in certain circumstances to provide the various services. In addition, certain wireline and wireless telephony services are provided under regulated rate and price systems. Key regulatory issues, and concessions and licenses held by the Telefónica Group are detailed in Appendix VI. |
Basis of Presentation of the Co
Basis of Presentation of the Consolidated Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Corporate Information And Statement Of IFRS Compliance [Abstract] | |
Basis of Presentation of the Consolidated Financial Statements | Basis of presentation of the consolidated financial statements The accompanying consolidated financial statements were prepared from the accounting records of Telefónica, S.A. and of each of the companies comprising the Telefónica Group, whose separate financial statements were prepared in accordance with the generally accepted accounting principles prevailing in the various countries in which they are located, and for purposes of these consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). These consolidated financial statements give a true and fair view of the consolidated equity and financial position at December 31, 2017 , and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended, which for the purposes of the Telefónica Group are not different from those adopted by the European Union. The euro is the Group’s reporting currency. The figures in these consolidated financial statements are expressed in millions of euros, unless otherwise indicated, and therefore may be rounded. The accompanying consolidated financial statements for the year ended December 31, 2017 were approved by the Company’s Board of Directors at its meeting on February 21, 2018 for submission for approval at the General Shareholders’ Meeting, which is expected to occur without modification. Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements. Materiality criteria These consolidated financial statements do not include certain information or disclosures that, not requiring presentation due to their qualitative significance, have been determined as immaterial or of no relevance pursuant to the concepts of materiality or relevance defined in the IFRS conceptual framework, insofar as the Telefónica Group’s consolidated financial statements, taken as a whole, are concerned. Recognition of Telefónica’s operation in the United Kingdom On March 24, 2015, Telefónica, S.A. reached an agreement with Hutchison Whampoa Group for the acquisition of Telefónica’s operations in United Kingdom. In accordance with IFRS 5, companies under the sale agreement were classified as a disposal group held for sale at that date, and their operations qualified as discontinued operations in the consolidated financial statements for the year ended December 31, 2015. On May 11, 2016 the European Commission made public its decision to prohibit the transaction. Following the submission of the consolidated financial information of the second quarter of 2016, Telefónica’s operations in United Kingdom were no longer presented as discontinued operations and their assets and liabilities ceased to be classified as held for sale. Thus, items are presented line by line in the consolidated financial statements. Accordingly, the comparative figures for 2015 were amended in the consolidated financial statements for the year ended December 31, 2016 with respect to those published in the consolidated financial statements for the year ended December 31, 2015. Comparative information and main changes in the consolidation scope For comparative purposes, the accompanying consolidated financial statements for 2017 include the figures for 2016 , and in the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows, and the notes thereto for the year then ended, they also include those of 2015 . The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2017 and 2016 (see Appendix I for a detail of the consolidation scope and the changes during the year) are as follows: a) Capital increase in Coltel, termination of the operating agreement with the PARAPAT and arbitration award Colombia Telecomunicaciones, S.A. E.S.P. (Coltel) is a company in which Telefónica holds a 67.5% stake and the Colombian Government the remaining 32.5% (see Note 21.c). On August 29, 2017, the shareholders' meeting of ColTel approved: • a capital increase for an aggregate amount of 4,800,966 million Colombian pesos (capital and premium), 1,384 million euros at the exchange rate of the relevant transaction date, so that Coltel would voluntarily pre-pay the entire amount of ColTel's debt derived from the operating agreement dated August 13, 2003 with Patrimonio Autónomo Receptor de Activos de la Empresa Nacional de Telecomunicaciones (the "PARAPAT"). The Telefónica Group and the Colombian Government subscribed the PARAPAT-Capital Increase pro rata to their respective shareholding in ColTel (see Note 12.h). The Telefónica Group disbursed 3,240,652 million Colombian pesos, 934 million euros at the exchange rate of the relevant transaction date. The Government assumed 32.5% of ColTel's payment obligations with the PARAPAT. The PARAPAT capital Increase was subscribed on September 26, 2017, and on September 27, 2017 ColTel pre-paid all of its debt with the PARAPAT (see Note 22), acquiring the ownership of the assets related to PARAPAT. As part of the early termination of the operating agreement with the PARAPAT, Coltel acquired control (see Note 5) of the companies Empresa de Telecomunicaciones de Telebucaramanga S.A. ESP (“Telebucaramanga”), Metropolitana de Telecomunicaciones S.A. ESP (“Metrotel”) and Operaciones Tecnológicas y Comerciales S.A.S. (“Optecom”), for a combined total of 509,975 million Colombian pesos (approximately 147 million euros at the date of the transaction). • a capital increase for an aggregate amount of 1,651,012 million Colombian pesos (capital and premium), 470 million euros at the exchange rate of that date. The proceeds from the Arbitration Award-Capital Increase were used to pay the entire amount set forth in the arbitration award issued in the arbitration proceedings initiated by the ITC in connection with its intention to revert certain assets earmarked for the provisions of mobile voice services under former concessions (see Note 6 and Appendix VI). The Telefónica Group and the Colombian Government subscribed the Arbitration Award-Capital Increase pro rata to their respective shareholding in ColTel. The Telefónica Group disbursed 1,114,433 million Colombian pesos, 317 million euros at the exchange rate of the relevant transaction date. The Colombian Government assumed, and consequently offset, a portion of ColTel's indebtedness. b) Individual Suspension Plan In 2015 Telefónica de España, S.A.U., Telefónica Móviles España, S.A.U. and Telefónica Soluciones de Informática y Comunicaciones de España, S.A.U. signed the 1st Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. This agreement considered, among other elements, a plan of measures for individual suspension of the employment relationship in 2016 and 2017, applying principles of voluntariness, universality, non-discrimination and social responsibility. In December 2016, the Collective Agreement of Related Companies was extended until 2018, by virtue of the provisions of this same agreement. The expense relating to the present value of the payment flows to meet the commitments resulting from the extension of this program was recognized in 2016. A total of 789 million euros was recorded for the Individual Suspension Plan in 2016 ( 2,896 million euros in 2015 ). The provision was updated as of 31 December 2017 according to the present degree of adhesion of the Plan, which, together with the updated termination plans, entailed an expense of 165 million euros in the 2017 consolidated income statement (see Note 15). c) Sale of 24.8% and 15.2% of the total share capital of Telxius Telecom, S.A. (Telxius) On October 24, 2017, Telefónica transferred 62 million shares of Telxius (representing 24.8% per cent of its share capital) to Taurus Bidco S.à.r.l. (hereafter, ”KKR”, an entity managed by Kohlberg Kravis Roberts & Co. L.P.) in exchange for 790.5 million euros. On November 13, 2017 KKR exercised a call option over 38 million shares of Telxius (representing 15.2% of its share capital) in exchange for 484.5 million euros (see Note 5). Following the closing of this sale of 15.2% of the share capital of Telxius, in December 2017, together with the 24.8% of the share capital acquired in October, the total stake of KKR is 40% of the share capital of Telxius in exchange for an aggregate amount of 1,275 million euros (see Note 20). These transactions had no impact on the consolidated results of the Telefónica Group as it consisted of the sale of minority interests, with Telefónica retaining control over Telxius. The impact of these transactions in equity attributable to equity holders of the parent was an increase of 570 million euros in retained earnings and a decrease of 9 million euros in translation differences. In addition, there was an increase in equity attributable to non-controlling interests amounting to 690 million euros (see Note 12). d) Translation of Telefónica Venezolana’s financial statements Venezuela has been considered a hyperinflationary economy since 2009. The Bolivar (VEF) is the functional currency of the Venezuelan subsidiaries. We review on a regular basis the economic conditions in Venezuela and the specific circumstances of our Venezuelan operations. Assessment of the exchange rate that better reflects the economics of Telefónica’s business activities in Venezuela relies on several factors and is performed considering all the information available at each closing date. Over the year 2017, the economic and political crisis in Venezuela deepened, bringing a substantial increase in inflation rates. However, the official exchange rate has not followed the change in inflation, and therefore is not representative of the value of the local currency as it does not reflect its real loss in purchasing power. On May 2017, the Government issued a new Exchange Agreement that established a foreign currency auctions system with monitored fluctuating bands, although no new currency auctions have been called since August 2017. In January 2018, the Government issued a new Exchange Agreement establishing a new auctions mechanism where the foreign currency offer will mainly come from the private sector and eliminating the currency protection system ("DIPRO"). The exchange rate resulting in the first currency auction was 30,988 VEF/EUR (equivalent to 25,000 VEF/USD). The structural weaknesses of this exchange mechanism (lack of depth and transparency) suggest there will remain a significant departure between official exchange rates and inflation. In light of this economic reality and in the absence of official rates that are representative of the situation in Venezuela, in 2017 the Group considers the need to estimate an exchange rate that matches the progression of inflation in Venezuela and contributes to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements in a more accurate way (hereinafter, synthetic exchange rate). For these purposes, the calculation method consists of using a representative exchange rate as a starting point, when official exchange rates, existing alternative exchange rates and those rates calculated by using macroeconomic methodologies were more aligned, and restating it for inflation, using the inflation rates applied by the Group to Venezuela ( 2,874.1% for year 2017, 511.1% for year 2016). The exchange rate used to translate the financial statements of the Venezuelan subsidiaries as of December 31, 2017 resulting from the described calculation methodology amounts to 36,115 VEF/USD. As of December 31, 2017, the SIMADI DICOM exchange rate, used by Telefónica in prior periods, amounted to 3,345 VEF/USD. The financial result resulting from the hyperinflation adjustment to the net monetary position and from the exchange differences arising from foreign currency items held by Telefónica Venezolana amounted to 84 million euros in 2017 ( 299 million euros in 2016), see Note 16. The following table presents the contribution of Telefónica Venezolana to certain items of the consolidated income statement, statement of cash flows and statement of financial position of the Telefónica Group for 2017, applying the synthetic exchange rate: Million euros Contribution of Telefónica Venezolana to the consolidated financial statements of the Telefónica Group Revenues 106 Operating income before depreciation and amortization (OIBDA) 34 Depreciation and amortization (103 ) Profit before tax 9 Net result (129 ) Other comprehensive income (movement of translation differences, see Note 12.f) (328 ) Net cash flow provided by operating activities 35 Capital expenditures (CapEx) 9 Non-current assets 295 Given that Venezuela is considered a hyperinflationary economy, the financial statements are adjusted for inflation (see Note 3.a), with the most significant impact being the adjustment of non-current assets by the inflation index. The difference between the profit before tax and the net result corresponds to the deferred tax recognized (see Note 17) for the inflation adjustments of the net assets, which are not deductible according to the present tax regime in Venezuela. At December 31, 2017, the SIMADI/DICOM exchange rate is 10.8 times the synthetic exchange rate. As mentioned above, the official exchange rate resulting from the new Exchange Regime issued in January 2018 is closer to the synthetic exchange rate estimated by Telefónica. For illustrative purposes, if the Telefónica Group had used the SIMADI/DICOM exchange rate, the figures of the above table would have been impacted proportionally by this difference in the exchange rates, except for other comprehensive income, which would have increased the net equity due to the movement of translation differences. ANNEX 1 BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS Acronym State AC Acre AL Alagoas AP Amapá AM Amazonas BA Bahia CE Ceara DF Distrito Federal ES Espírito Santo GO Goiás MA Maranhão MT Mato Grosso MS Mato Grosso do Sul MG Minas Gerais PA Pará PB Paraíba PR Paraná PE Pernambuco PI Piauí RJ Rio de Janeiro RN Rio Grande do Norte RS Rio Grande do Sul RO Rondônia RR Roraima SC Santa Catarina SP São Paulo SE Sergipe TO Tocantins Regions States & towns included in the regions 1 SP (City) 2 SP (Interior) 2' SP - towns of sector 33 of the GPLG 3 RJ y ES 4 MG 4' MG - towns of sector 3 of the GPLG 5 PR y SC 5' PR - towns of sector 20 of the GPLG 6 RS 6' RS - towns of sector 30 of the GPLG 7 AC, DF, GO, MS, MT, RO y TO 7' GO - towns of sector 25 of the GPLG 8 AM, AP, MA, PA y RR 9 BA y SE 10 AL, CE, PB, PE, PI y RN Sectors GPLG - general plan of the licenses granted (geographic areas that correspond to the sectors) 1 RJ 2 MG - except towns included in sector 3 3 MG - towns of Araporã, Araújo, Campina Verde, Campo Florido, Campos Altos, Canálopis, Capinópolis, Carmo do Paranaíba, Carneirinhos, Centralina, Comendador Gomes, Conceição das Alagoas, Córrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhatã, Ibiraci, Igaratinga, Iguatama, Indianópolis, Ipiaçú, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Pará de Minas, Patos de Minas, Pedrinópolis, Pequi, Perdigão, Pirajuba, Pitangui, Planura, Prata, Presidente Olegário, Rio Paranaíba, Santa Juliana, Santa Vitória, São Francisco de Sales, São José da Varginha, Tupaciguara, Uberaba, Uberlândia, União de Minas & Vazante 4 ES 5 BA 6 SE 7 AL 8 PE 9 PB 10 RN 11 CE 12 PI 13 MA 14 PA 15 AP 16 AM 17 RR 18 SC 19 PR –except towns included of sector 20 20 PR – towns of Londrina and Tamarana 21 MS – except the town integrating of sector 22 22 MS – town of Paranaíba 23 MT 24 TO y GO – except towns included in sector 25 25 GO – towns of Buriti Alegre, Cachoeira Dourada, Inaciolândia, Itumbiara, Paranaiguara and São Simão 26 DF 27 RO 28 AC 29 RS 30 RS – towns of Pelotas, Capão do Leão, Morro Redondo and Turuçu 31 SP – except the towns included in sector 33 33 SP – towns of Altinópolis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, Cássia dos Coqueiros, Colômbia, Franca, Guaíra, Guará, Ipuã, Ituverava, Jardinópolis, Miguelópolis, Morro Agudo, Nuporanga, Orlândia, Ribeirão Corrente, Sales de Oliveira, Santa Cruz da Esperança, Santo Antônio da Alegria and São Joaquim da Barra ANNEX 2 Mexico spectrum portofolio: meaning of the region numbers Region 1 Baja California: Baja California, Baja California Sur, Sonora (San Luis Río Colorado). Region 2 Sinaloa, Sonora (excluding San Luis Río Colorado). Region 3 Chihuahua, Durango, Coahuila de Zaragoza (Torreón, San Pedro, Matamoros, Francisco I. Madero, Viesca). Region 4 Nuevo León, Tamaulipas, Coahuila de Zaragoza (excluding municipalities of the North Region). Region 5 Chiapas, Tabasco, Yucatán, Quintana Roo, Campeche. Region 6 Jalisco (excluding municipalities of the Central Region), Michoacán de Ocampo, Nayarit, Colima. Region 7 Guanajuato, San Luis Potosí, Zacatecas, Querétaro de Arteaga, Aguascalientes, Jalisco (Lagos de Moreno, Encarnación de Díaz, Teocaltiche, Ojuelos de Jalisco, Colotlán, Villa Hidalgo, Mezquitic, Huejuquilla el Alto, Huejúcar, Villa Guerrero, Bolaños, Santa María de los Ángeles). Region 8 Veracruz-Llave, Puebla, Oaxaca, Guerrero, Tlaxcala. Region 9 State of México, Distrito Federal, Hidalgo, Morelos. |
Accounting Policies
Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Accounting Policies | Accounting policies As stated in Note 2, the Group’s consolidated financial statements have been prepared in accordance with IFRSs and interpretations issued by the International Accounting Standards Board (IASB). Accordingly, only the most significant accounting policies used in preparing the accompanying consolidated financial statements, in light of the nature of the Group’s activities, are set out below, as well as the accounting policies applied where IFRSs permit a policy choice, and those that are specific to the sector in which the Group operates. a) Hyperinflationary economies Venezuela is considered as a hyperinflationary economy since 2009. The inflation rates used to prepare the financial information are the “Indice Nacional de Precios al Consumidor de Venezuela”, published by the Central Bank of Venezuela, or the best estimate in case the final index is not available. On an annual basis, these rates are 2,874.1% , 511.1% and 190.8% for 2017 , 2016 and 2015 , respectively. The exchange rate used to translate inflation-adjusted bolivar-denominated items is the exchange rate as of the closing date of each reporting period, amounting to 36,115.28 bolivars per U.S. dollar (synthetic exchange rate, see Note 2), 673.762 bolivars per U.S. dollar (DICOM) and 198.699 bolivars per U.S. dollar (SIMADI) as of December 31, 2017 , 2016 and 2015 , respectively. b) Translation methodology The income statements and statements of cash flows of the Group’s foreign subsidiaries (except Venezuela) were translated into euros at the average exchange rates for the year, as a rate that approximates the exchange rates at the dates of the transactions. c) Goodwill After initial recognition, goodwill is carried at cost, less any accumulated impairment losses. Goodwill is recognized as an asset denominated in the currency of the company acquired and is tested for impairment annually or more frequently, if there are certain events or changes indicating the possibility that the carrying amount may not be fully recoverable. The potential impairment loss is determined by assessing the recoverable amount of the cash generating unit (or group of cash generating units) to which the goodwill is allocated from the acquisition date. d) Intangible assets Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. Intangible assets are amortized on a straight-line basis according to the following: • Licenses granted to the Telefónica Group by various public authorities to provide telecommunications services and the value allocated to licenses held by certain companies at the time they were included in the Telefónica Group (“Service concession arrangements and licenses”) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins. • The allocation of acquisition costs attributable to customers acquired in business combinations, as well as the acquisition value of this type of assets in a third-party transaction for consideration (“Customer base”) are amortized on a straight-line basis over the estimated period of the customer relationship. The term length is between 5 to 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). • Software is amortized on a straight-line basis over its useful life, generally estimated to be between two and five years . e) Property, plant and equipment Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. Cost includes, among others, direct labor used in installation and the allocable portion of the indirect costs required for the related asset. The latter two items are recorded as revenue under the concept “Own work capitalized” of the line item “Other income”. Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telefónica Group are those assets that require a period of at least 18 months to bring the assets to the condition necessary for their intended use or sale. The Group’s subsidiaries depreciate their property, plant and equipment, from the time they can be placed in service, amortizing the cost of the assets, net of their residual values on a straight-line basis over the assets’ estimated useful lives, which are calculated in accordance with technical studies that are revised periodically in light of technological advances and the rate of dismantling, as follows: Years of estimated Buildings 25 – 40 Plant and machinery 10 – 15 Telephone installations, networks and subscriber equipment 5 – 20 Furniture, tools and other items 2 – 10 f) Impairment of non-current assets Non-current assets, including goodwill and intangible assets are assessed at each reporting date for indicators of impairment. Whenever such indicators exist, or in the case of assets which are subject to an annual impairment test, the recoverable amount is estimated. An asset’s recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future post-tax cash flows deriving from the use of the asset or its cash generating unit, as applicable, are discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset, whenever the result obtained is the same that would be obtained by discounting pre-tax cash flows at a pre-tax discount rate. The Group bases the calculation of impairment on the approved business plans of the various cash generating units to which the assets are allocated. The projected cash flows, based on the approved strategic business plans, cover a period of five years. Starting with the sixth year, an expected constant growth rate is applied . g) Lease agreements The determination of whether an arrangement is, or contains a lease is based on the substance of the agreement and requires an assessment of whether the fulfilment of the arrangement is dependent on the use of a specific asset and the agreement conveys a right to the use of the asset. Leases where the lessor does not transfer substantially all the risks and benefits of ownership of the asset are classified as operating leases. Leases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards incidental to ownership of the leased item to the Group. h) Investment in associates and joint arrangements The Group assesses whether it has significant influence not only on the basis of its ownership percentage but also on the existence of qualitative factors such as representation on the board of directors of the investee, its participation in decision-making processes, interchange of managerial personnel and access to technical information. The Group assesses rights and obligations agreed to by the parties to a joint arrangement and, when relevant, other facts and circumstances in order to determine whether the joint arrangement in which it is involved is a joint venture or a joint operation. i) Financial assets and liabilities Financial investments All regular way purchases and sales of financial assets are recognized in the statement of financial position on the trade date, i.e. the date that the Company commits to purchase or sell the asset. Financial assets which the Group intends to hold for an indefinite period of time and could be sold at any time in response to needs for liquidity requirements or in response to changes in market conditions are classified as available-for-sale. These investments are presented as non-current assets, unless it is probable and feasible that they will be sold within 12 months. Derivative financial instruments and hedge accounting The accounting treatment of any gain or loss resulting from changes in the fair value of a derivative depends on whether the derivative in question meets all the criteria for hedge accounting and, if appropriate, on the nature of the hedge. Changes in fair value of derivatives that qualify as fair value hedging instruments are recognized in the income statement, together with changes in the fair value of the hedged asset or liability attributable to the risk being hedged. Changes in the fair value of derivatives that qualify and have been designated as cash flows hedges, which are highly effective, are recognized in equity. The ineffective portion is recognized immediately in the income statement. Fair value changes from hedges that relate to firm commitments or forecast transactions that result in the recognition of non-financial assets or liabilities are included in the initial carrying amount of those assets or liabilities. Otherwise, changes in fair value previously recognized in equity are recognized in the income statement in the period in which the hedged transaction affects profit or loss. An instrument designated to hedge foreign currency exposure from a net investment in a foreign operation is accounted for in a similar manner to cash flow hedges. When the Group chooses not to apply hedge accounting criteria, gains or losses resulting from changes in the fair value of derivatives are taken directly to the income statement. In this respect, transactions used to reduce the exchange rate risk of income contributed by foreign subsidiaries are not treated as hedging transactions. j) Inventories Materials stored for use in investment projects and inventories for consumption and replacement are valued at the lower of weighted average cost and net realizable value. k) Pensions and other employee obligations Provisions required to cover the accrued liability for defined-benefit pension plans are determined using “the projected unit credit” actuarial valuation method. The calculation is based on demographic and financial assumptions determined at a country level, and in consideration of the macroeconomic environment. The discount rates are determined based on high quality market yield curves. Plan assets are measured at fair value. Provisions for post-employment benefits (e.g. early retirement or other) are calculated individually based on the terms agreed with the employees. In some cases, these may require actuarial valuations based on both demographic and financial assumptions. l) Revenue and expenses The Telefónica Group revenues are derived principally from providing the following telecommunications services: traffic, connection fees, regular (normally monthly) network usage fees, interconnection, network and equipment leasing, handset sales and other digital services such as Pay TV and value-added services or maintenance. Products and services may be sold separately or bundled in promotional packages. Revenues from calls carried on Telefónica’s networks (traffic) entail an initial call establishment fee plus a variable call rate, based on call length, distance and type of service. Both wireline and wireless traffic is recognized as revenue as service is provided. For prepaid calls, the amount of unused traffic generates a deferred revenue presented in “Trade and other payables” on the statement of financial position. Prepaid cards generally expire within 12 months and any deferred revenue from prepaid traffic is recognized directly in the income statement when the card expires as the Group has no obligation to provide service after expiry date. Revenues from traffic sales and services at a fixed rate over a specified period of time (flat rate) are recognized on a straight-line basis over the term covered by the rate paid by the customer. Installation fees are taken to the income statement on a straight-line basis over the related period. Equipment leases and other services are taken to profit or loss as they are consumed. Interconnection revenues from wireline-wireless and wireless-wireline calls and other customer services are recognized in the period in which the calls are made. Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. For bundled packages that include multiple elements sold in the wireline, wireless, internet and television businesses it is determined whether it is necessary to separate the separately identifiable elements and apply the corresponding revenue recognition policy to each element. Total package revenue is allocated among the identified elements based on their respective fair values (i.e. the fair value of each element relative to the total fair value of the package). As connection or initial activation fees, or upfront non-refundable fees, are not separately identifiable elements in these types of packages, any revenues received from the customer for these items are allocated to the remaining elements. Additionally, when allocating the package revenue to the elements, amounts contingent upon delivery of undelivered elements are not allocated to delivered elements. All expenses related to bundled promotional packages are recognized in the income statement as incurred. m) Use of estimates The key assumptions concerning the future and other relevant sources of uncertainty in estimates at the reporting date that could have a significant impact on the consolidated financial statements within the next financial year are discussed below. A significant change in the facts and circumstances on which these estimates and related judgments are based could have a material impact on the Group’s results and financial position. Accordingly, sensitivity analyses are disclosed for the most relevant situations (see Notes 7 and 15). Property, plant and equipment, intangible assets and goodwill The accounting treatment of investments in property, plant and equipment and intangible assets entails the use of estimates to determine the useful life for depreciation and amortization purposes and to assess fair value at their acquisition dates for assets acquired in business combinations. Determining useful life requires making estimates in connection with future technological developments and alternative uses for assets. There is a significant element of judgment involved in making technological development assumptions, since the timing and scope of future technological advances are difficult to predict. The decision to recognize an impairment loss involves developing estimates that include, among others, an analysis of the causes of the potential impairment, as well as its timing and expected amount. Furthermore, additional factors, such as technological obsolescence, the suspension of certain services and other circumstantial changes, which highlight the need to evaluate a possible impairment, are taken into account. The Telefónica Group evaluates its cash-generating units’ performance regularly to identify potential goodwill impairments. Determining the recoverable amount of the cash-generating units to which goodwill is allocated also entails the use of assumptions and estimates and requires a significant element of judgment. Deferred income taxes The Group assesses the recoverability of deferred tax assets based on estimates of future earnings, and of all the options available to achieve an outcome, it considers the most efficient one in tax terms within the legal framework the Group is subject to. Such recoverability ultimately depends on the Group’s ability to generate taxable earnings over the period for which the deferred tax assets remain deductible. This analysis is based on the estimated schedule for reversing deferred tax liabilities, as well as estimates of taxable earnings, which are sourced from internal projections that are continuously updated to reflect the latest trends. The recognition of tax assets and liabilities depends on a series of factors, including estimates as to the timing and realization of deferred tax assets and the projected tax payment schedule. Actual Group company income tax receipts and payments could differ from the estimates made by the Group as a result of changes in tax legislation or unforeseen transactions that could affect tax balances. Provisions Provisions are recorded when, at the end of the period, we have a present obligation as a result of past events, whose settlement requires an outflow of resources that is considered probable and can be measured reliably. This obligation may be legal or constructive, arising from, but not limited to, regulation, contracts, common practice or public commitments, which have created a valid expectation for third parties that we will assume certain responsibilities. The amount recorded is the best estimation performed by the management in respect of the expenditure that will be required to settle the obligations, considering all the information available at the closing date, including the advice of external experts, such as legal advisors or consultants. Should we be unable to reliably measure the obligation, no provision would be recorded and information would then be presented in the notes to the Consolidated Financial Statements. Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. Revenue recognition Bundled offers Bundled offers that combine different elements are assessed to determine whether it is necessary to separate the different identifiable components and apply the corresponding revenue recognition policy to each element. Total package revenue is allocated among the identified elements based on their respective fair values. Determining fair values for each identified element requires estimates that are complex due to the nature of the business. A change in estimates of fair values could affect the apportionment of revenue among the elements and, as a result, the date of recognition of revenues. Exchange rate and inflation rates used to translate the financial statements of our Venezuelan subsidiaries As of December 31, 2017 , there are multiple exchange mechanisms and three published exchange rates legally available for translation of the financial statements of the Venezuelan subsidiaries. We review, on a regular basis, the economic conditions in Venezuela and the specific circumstances of our Venezuelan operations. In light of the worsening of the economic and political crisis in Venezuela in 2017 and in the absence of official rates that are representative of the situation in such country, at December 31, 2017 the Group considers the need to estimate an exchange rate that matches the progression of inflation in Venezuela and contributes to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements in a more accurate way. Assessment of the exchange rate that best reflects the economics of Telefónica’s business activities in Venezuela relies on several factors and is performed considering all the information available at the closing date, and entails the use of assumptions and estimates and significant management judgment. Due to inherent uncertainties in the estimates required to determine the appropriate exchange rate for the conversion of VEF-denominated financial statements, actual cash flows denominated in such currency may differ from the amounts currently recognized on the basis of our estimates, as a result of changes in currency laws or changes in exchange mechanisms or published exchange rates that may have an impact on the conversion rate used for our Venezuelan subsidiaries’ financial statements, affecting the net monetary position of VEF-denominated assets (liabilities). In addition to this, Venezuela is considered as a hyperinflationary economy since 2009. Telefónica recognizes the effects of inflation by restating the financial information of its Venezuelan operation using the “Indice Nacional de Precios al Consumidor de Venezuela” issued by the Central Bank of Venezuela, or the best estimate in case the final index is not available. Significant management judgment is required to determine the appropriate inflation rate where the official rate is not available. The estimates and underlying assumptions are based on careful consideration of factors that are considered to be relevant and rely on all the information available at the closing date. Actual results may differ from these estimates as a result of changes in circumstances and assumptions about future developments in Venezuela due to evolving market conditions, uncertainty about currency and operating restrictions or other circumstances arising beyond the control of the Company. n) New IFRS and interpretations of the IFRS Interpretations Committee (IFRIC) The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2017 are consistent with those used in the preparation of the Group’s consolidated annual financial statements for the year ended December 31, 2016 . The following amendments to standards published by the International Accounting Standards Board (IASB) are effective for annual periods beginning on or after January 1, 2017: • Improvements to IFRS 2014-2016 The annual improvements projects provide a vehicle for making non-urgent but necessary amendments to IFRSs, with the aim of removing inconsistencies and clarifying wording. The amendments related to IFRS 12 Disclosure of Interests in other Entities, aimed clarifying the scope of the standard, are effective for annual periods beginning on or after January 1, 2017, whereas the rest of the improvements are effective for annual periods beginning on or after January 1, 2018. The amendments related to IFRS 12 have not been endorsed by the EU for use in Europe, but they do not have an impact on the Group’s consolidated financial statements since, as of December 31, 2017, the Group does not have interests that are classified as held for sale, as held for distribution or as discontinued operations. • Amendments to IAS 7, Disclosure Initiative The amendments to IAS 7 require entities to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows, such as the issuance and repayments of loans, and non-cash changes, such as unpaid acquisitions, sales and exchange differences. These amendments have been endorsed by the EU for use in Europe. The Group has considered these amendments in the preparation of these consolidated financial statements. • Amendments to IAS 12, Recognition of Deferred Tax Assets for Unrealised Losses The amendments clarify the requirements on recognition of deferred taxes when the tax base of an asset exceeds its fair value. These amendments have been endorsed by the EU for use in Europe. These amendments do not have a significant impact on the results or financial position of the Group. New standards and amendments to standards issued but not effected as of December 31, 2017 . At the date of preparation of the consolidated financial statements, the following IFRSs and amendments had been published, but their application was not mandatory: Standards and amendments Mandatory application: annual periods beginning on or after IFRS 9 Financial instruments January 1, 2018 IFRS 15 Revenue from Contracts with Customers January 1, 2018 Clarifications to IFRS 15 Revenue from Contracts with Customers (issued on 12 April 2016) January 1, 2018 Amendments to IFRS 2 Classification and Measurement of Share-based Payment Transactions January 1, 2018 Amendments to IFRS 4 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts January 1, 2018 Amendments to IAS 40 Transfers of Investment Property January 1, 2018 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 Improvements to IFRS Standards 2014-2016 Cycle January 1, 2017/2018 Improvements to IFRS Standards 2015-2017 Cycle January 1, 2018 IFRS 16 Leases January 1, 2019 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 Amendments to IFRS 9 Prepayment Features with Negative January 1, 2019 Amendments to IAS 28 Long-term Interests in Associates and Joint Ventures January 1, 2019 IFRS 17 Insurance Contracts January 1, 2021 Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred Based on the analyses made to date, the Group estimates that the adoption of many of these standards, amendments and interpretations will not have a significant impact on the consolidated financial statements in the initial period of application. However, the following issued but not yet effective standards are expected to have a significant impact on the consolidated financial statements at the time of their adoption and prospectively. IFRS 15 Revenues from Contracts with Customers IFRS 15 sets out the requirements for recognising revenue from contracts with customers. The new requirements are expected to affect the following aspects, among others: • Under IFRS 15, for bundled packages that combine multiple wireline, wireless, data, internet or television goods or services, the total revenue will be allocated to each performance obligation based on their standalone selling prices in relation to the total consideration of the package and will be recognised when (or as) the obligation is satisfied, regardless of whether there are undelivered items. This differs from current accounting where the portion of the total consideration that is contingent upon delivery of undelivered elements is not allocated to delivered elements. Consequently, when bundles include a discount on equipment, the adoption of these new requirements will result in an increase of revenues recognised from the sale of handsets and other equipment, generally recognised upon delivery to the end customer, in detriment of ongoing service revenue over subsequent periods. To the extent that the packages are marketed at a discount, the difference between the revenue from the sale of equipment and the consideration received from the customer upfront will be recognised as a contract asset on the statement of financial position. • Under the current accounting policy, all expenses directly related with obtaining a contract (sales commissions and other third party acquisition costs) are expensed when incurred. However, IFRS 15 requires the recognition of an asset for those costs that are incremental to obtain a contract and that are expected to be recovered and its subsequent amortisation over the same period as the revenue associated with such asset. • The guidance in IFRS 15 for the distinction between agent and principal is based on the concept of “control” that may differ from the currently applied notion of transfer of “risks and rewards”. However, for the purposes of determining whether the Group acts as principal, selling for its own account (gross revenue), or as an agent in a particular transaction, selling on behalf of others (net revenue), the Group does not expect significant changes to its current accounting policy. • Compared to the current revenue standard, IFRS 15 sets out more detailed requirements on how to account for contract modifications. Certain changes must be accounted for as a retrospective change (i.e. as a continuation of the original contract), while other modifications must be accounted for prospectively as separate contracts, like the end of the original contract and the creation of a new one. • In addition, the Group's financial statements will include more qualitative and quantitative disclosure of income-related accounts. In addition to this, IFRS 15 allows for two transition methods, namely the full retrospective method and the modified retrospective method with the cumulative effect from initial application recognised as an adjustment to the opening balance of retained earnings at the date of initial application. The Group will adopt the latter and prior-year comparatives will not be restated; instead, the Group will disclose the nature and amount of the changes in items in the statement of financial position and the income statement for the current period as a result of applying IFRS 15 for the first time. It is also possible to elect to apply certain practical expedients to facilitate the application of the new criteria. The Group has evaluated which of them will be adopted in the implementation of the standard with the objective of reducing the complexity in its application. The main practical expedients that the Group will adopt are: • Completed contracts: the Group will not apply the standard retrospectively to those contracts that are completed at January 1, 2018. • Portfolio approach: the Group will apply the requirements of the standard to groups of contracts with similar characteristics (residential customers and small and medium-sized entities, where standard offers are marketed), since, for the clusters identified, the effects do not differ significantly from an application on a contract by contract basis. • Financial component: it will not be considered significant when the period between the moment when the promised good or service is transferred to a customer and the moment when the customer pays for that good or service is one year or less. Based on the assessment undertaken to date, the vast majority of contracts issued does not include a significant financing component. • Costs to obtain a contract: these costs will be recognised as an expense when incurred if the amortisation period of the asset that the entity would otherwise recognise is one year or less. The process of implementing the new requirements involves the introduction of modifications to the current information systems, the implementation of new IT tools, and changes in the processes and controls of the entire revenue cycle in the Group companies. This process of implementation in the Group entails a high degree of complexity due to factors such as a large number of contracts, numerous data source systems, diversity of business models in the different locations, as well as the need to make complex estimates. From the analysis performed on the transactions of the last financial year considering commercial offers as well as the volume of contracts affected, the Group estimates that the adoption of the new revenue recognition requirements on the Group’s equity is expected to result in an increase in retained earnings ranging from 950 to 1,100 million euros before taxes, with the most significant impacts being the first-time recognition of contract assets that, under IFRS 15, lead to the earlier recognition of revenue from the sale of goods, and the activation and deferral of the incremental costs of obtaining contracts that, under IFRS 15, result in the later recognition of customer acquisition costs. As the accounting effects of the transition to the new standard will be recognized directly in equity, the effects on profit or loss in 2018 will be related to changes in the point in time at which revenue and expenses are recorded. On the assumption that there are no significant changes to business models or products offered, the Group expects that the application of IFRS 15 on an ongoing basis will entail two offsetting effects, considering a market that features a large number of customer contracts that are being executed at different points in time, as follows: (a) for existing contracts, lower service revenues and higher selling expenses from the amortization of capitalized customer acquisition costs should be expected; and (b) for new contracts, higher revenues from the sale of equipment and lower selling expenses from the capitalization of customer acquisition costs should be expected. Assuming there are no major changes in the business development, the Group expects that such effects may have an impact on net income that will be lower than 0.5% in terms of revenues, and lower than 1% in terms of OIBDA. These impacts are based on the assessments undertaken to date. The actual impacts of adopting IFRS 15 at January 1, 2018 may change because the Group has not finalised the testing and assessment of controls over its new IT systems, and because the new accounting policies are subject to change until the Group presents its first financial statements that include the date of initial application. IFRS 9 Financial Instruments IFRS 9 is applicable to financial assets and financial liabilities. As a result of the analysis of the effects of the new requirements introduce |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Operating Segments [Abstract] | |
Segment Information | Segment information The organizational structure approved by the Board of Directors of Telefónica, S.A. on February 26, 2014 is made up of the following segments: Telefónica Spain, Telefónica United Kingdom, Telefónica Germany, Telefónica Brazil and Telefónica Hispanoamérica (formed by the Group’s operators in Argentina, Chile, Peru, Colombia, Mexico, Venezuela, Central America, Ecuador and Uruguay). These segments include the information related to wireline, wireless, cable, data, internet and television businesses and other digital services provided in each country or countries. Any services not specifically included in these segments are part of “Other companies and eliminations”, which includes, in particular, Telxius (as further explained below), the companies belonging to the cross-sectional areas, other Group companies as well as eliminations in the consolidation process. Inter-segment transactions are carried out at market prices. Telxius' results are fully reported under "Other companies and eliminations" since January 1, 2017, reflecting the integration within Telxius of the mobile telecommunications towers transferred from the Telefónica Spain, Telefónica Germany, Telefónica Brazil and Telefónica Hispanoamérica segments and the international submarine fiber optic cable (which had already been previously reported under "Other companies and eliminations"). The 2016 comparative segment results have been revised, accordingly. Based on the different dates on which assets were contributed to Telxius by each operating segment, this has affected the results of Telefónica Spain (since January 1, 2016), Telefónica Germany (since May 1, 2016), Telefónica Brazil (since April 1, 2016) and Telefónica Hispanoamérica (Telefónica Perú since April 1, 2016 and Telefónica Chile since May 1, 2016). The results of the segments do not include the intra-group capital gains resulting from the transfer of towers to Telxius. Revenues of Telxius in 2017 amounted to 730 million euros ( 645 million euros in 2016), of which 449 million euros correspond to inter-segment revenues ( 451 million euros in 2016). OIBDA of Telxius in 2017 amounted to 346 million euros ( 266 million euros in 2016). The capital expenditures of 2017 in Telxius amounted to 203 million euros ( 119 million euros in 2016). In addition, in 2017 Telefónica Spain includes the companies Telefónica Studios and Telefónica Servicios Audiovisuales (which had been previously reported under “Other companies and eliminations”), and Telefónica Spain and Telefónica Hispanoamérica include the results of the data center business in Spain and Chile, respectively (which had been previously reported under “Other companies and eliminations”). As a consequence, the 2016 comparative segment results have also been revised accordingly. These changes in the segments have had no impact on the consolidated results of the Group. The Telxius subsidiaries currently holding the telecommunications towers did not exist in 2015 as such towers were part of the operating companies of the relevant countries. Thus, segment information could not be retrospectively revised for 2015. The segment reporting for 2016 is being presented under two different bases: (i) for purposes of the comparison against 2017, 2016 segment information has been revised so that the telecommunications towers are part of Telxius (since the dates on which the relevant assets were transferred to Telxius); and (ii) for purposes of the comparison against 2015, the telecommunications towers are integrated in each relevant segment. The Group manages borrowing activities centrally. Also, Telefónica, S.A. is the head of the Telefónica tax group in Spain (see Note 17). Therefore, a significant part of the related assets and liabilities is included under “Other companies and eliminations” and the results of the segments are disclosed up to operating income. Revenue and expenses arising from intra-group invoicing for the use of the trademark and management services have been eliminated from the operating results of each Group segment. These adjustments have no impact on the Group’s consolidated results. Segment reporting takes into account the impact of the purchase price allocation to the assets acquired and the liabilities assumed for the companies included in each segment. The assets and liabilities presented in each segment are those managed by the heads of each segment, irrespective of their legal structure. Operating income before depreciation and amortization (OIBDA) is calculated by excluding solely depreciation and amortization from operating income. OIBDA is used to track the performance of the business and to establish operating and strategic targets of the Telefónica Group companies. OIBDA is a commonly reported measure and is widely used among analysts, investors and other interested parties in the telecommunications industry, although not a measure explicitly defined in IFRS, and therefore, may not be comparable to similar indicators used by other companies. OIBDA should not be considered as a substitute for operating income . The following table presents income and CapEx information (capital expenditures in intangible assets and property, plant and equipment, see Notes 6 and 8) regarding the Group’s operating segments: 2017 Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,653 6,540 7,296 12,019 12,552 948 52,008 External revenues 12,364 6,505 7,252 11,994 12,394 1,499 52,008 Inter-segment revenues 289 35 44 25 158 (551 ) — Other operating income and expenses (7,701 ) (4,901 ) (5,475 ) (7,828 ) (9,014 ) (902 ) (35,821 ) OIBDA 4,952 1,639 1,821 4,191 3,538 46 16,187 Depreciation and amortization (1,688 ) (1,047 ) (1,954 ) (2,228 ) (2,191 ) (288 ) (9,396 ) Operating income 3,264 592 (133 ) 1,963 1,347 (242 ) 6,791 Capital expenditures (CapEx) 1,683 827 951 2,225 2,678 333 8,697 2016 (revised) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,815 6,861 7,503 11,090 12,579 1,188 52,036 External revenues 12,512 6,821 7,460 11,060 12,337 1,846 52,036 Inter-segment revenues 303 40 43 30 242 (658 ) — Other operating income and expenses (8,412 ) (5,152 ) (5,732 ) (7,388 ) (9,105 ) (1,129 ) (36,918 ) OIBDA 4,403 1,709 1,771 3,702 3,474 59 15,118 Depreciation and amortization (1,827 ) (1,090 ) (2,200 ) (2,036 ) (2,189 ) (307 ) (9,649 ) Operating income 2,576 619 (429 ) 1,666 1,285 (248 ) 5,469 Capital expenditures (CapEx) 1,852 931 1,107 2,137 2,615 286 8,928 2016 (previous segmentation) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,713 6,861 7,503 11,097 12,579 1,283 52,036 External revenues 12,410 6,822 7,460 11,067 12,337 1,940 52,036 Inter-segment revenues 303 39 43 30 242 (657 ) — Other operating income and expenses (8,246 ) (5,152 ) (5,709 ) (7,383 ) (9,102 ) (1,326 ) (36,918 ) OIBDA 4,467 1,709 1,794 3,714 3,477 (43 ) 15,118 Depreciation and amortization (1,830 ) (1,090 ) (2,211 ) (2,038 ) (2,190 ) (290 ) (9,649 ) Operating income 2,637 619 (417 ) 1,676 1,287 (333 ) 5,469 Capital expenditures (CapEx) 1,847 931 1,108 2,138 2,613 291 8,928 2015 Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,402 7,837 7,888 11,060 14,387 1,342 54,916 External revenues 12,194 7,787 7,874 11,027 14,147 1,887 54,916 Inter-segment revenues 208 50 14 33 240 (545 ) — Other operating income and expenses (10,066 ) (5,908 ) (6,030 ) (7,487 ) (10,031 ) (2,165 ) (41,687 ) OIBDA 2,336 1,929 1,858 3,573 4,356 (823 ) 13,229 Depreciation and amortization (1,898 ) (1,196 ) (2,128 ) (1,916 ) (2,241 ) (325 ) (9,704 ) Operating income 438 733 (270 ) 1,657 2,115 (1,148 ) 3,525 Capital expenditures (CapEx) 1,827 883 2,230 2,105 3,060 356 10,461 The following table presents segment assets, liabilities and investments accounted for by the equity method: 2017 Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Investments accounted for by the equity method 2 7 — 2 1 65 77 Fixed assets 15,288 9,198 14,611 23,845 13,931 2,198 79,071 Total allocated assets 22,722 11,610 17,225 30,229 20,226 13,054 115,066 Total allocated liabilities 13,391 4,063 5,889 8,130 10,716 46,259 88,448 2016 (revised) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Investments accounted for by the equity method 1 6 — 2 1 66 76 Fixed assets 15,306 9,771 15,572 27,489 15,089 2,370 85,597 Total allocated assets 22,138 12,025 18,510 35,104 21,655 14,209 123,641 Total allocated liabilities 12,999 3,907 6,006 9,643 13,004 49,697 95,256 2016 (previous segmentation) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Investments accounted for by the equity method 1 6 — 2 1 66 76 Fixed assets 15,559 9,771 15,825 27,522 15,126 1,794 85,597 Total allocated assets 22,353 12,025 18,835 35,192 21,694 13,542 123,641 Total allocated liabilities 13,009 3,907 6,078 9,636 13,002 49,624 95,256 The composition of segment revenues, detailed by the main countries in which the Group operates, is as follows: Millions of euros 2017 2016 (revised) 2016 (previous segmentation) 2015 Country Fixed Mobile Other and elims. Total Fixed Mobile Other and elims. Total Fixed Mobile Other and elims. Total Fixed Mobile Other and elims. Total Spain (*) 12,653 12,815 9,795 4,149 (1,231 ) 12,713 9,359 4,337 (1,294 ) 12,402 United Kingdom (**) — 6,216 324 6,540 — 6,572 289 6,861 — 6,861 — 6,861 — 7,837 — 7,837 Germany 862 6,415 19 7,296 981 6,498 24 7,503 981 6,498 24 7,503 1,043 6,832 13 7,888 Brazil 4,659 7,360 — 12,019 4,427 6,663 — 11,090 4,428 6,669 — 11,097 4,154 6,906 — 11,060 Hispano-américa 3,964 8,588 — 12,552 3,999 8,580 — 12,579 3,732 8,882 (35 ) 12,579 4,070 10,347 (30 ) 14,387 Argentina 1,216 2,279 — 3,495 1,133 1,867 — 3,000 1,133 1,867 — 3,000 1,376 2,539 — 3,915 Chile 926 1,259 — 2,185 926 1,237 — 2,163 925 1,238 — 2,163 928 1,292 — 2,220 Peru 1,092 1,226 — 2,318 1,126 1,373 — 2,499 1,126 1,373 — 2,499 1,200 1,566 — 2,766 Colombia 554 909 — 1,463 548 861 — 1,409 548 861 — 1,409 566 942 — 1,508 Mexico — 1,336 — 1,336 — 1,410 — 1,410 — 1,410 — 1,410 — 1,783 — 1,783 Remaining operators and segment eliminations 176 1,579 — 1,755 266 1,832 — 2,098 — 2,133 (35 ) 2,098 — 2,225 (30 ) 2,195 Other and inter-segment eliminations — — 948 948 — — 1,188 1,188 — — — 1,283 — — — 1,342 Total Group — — — 52,008 — — — 52,036 — — — 52,036 — — — 54,916 Note: In the countries of the Telefónica Hispanoamérica segment with separate fixed and mobile operating companies, the intercompany revenues have not been considered. (*) The detail of revenues for Telefónica Spain is shown in the table below. (**) Telefónica United Kingdom mobile revenues include revenues from MVNOs since 1 January 2017, which were previously accounted as "others". Comparative figures for 2016 have been revised accordingly. Given the convergence reached at Telefónica Spain due to the high penetration of the convergent offers in Telefónica Spain, the revenue breakdown by fixed and mobile is less relevant in this segment. For this reason, the following revenue breakdown is shown, which management believes is more meaningful . Millions of euros Telefónica Spain 2017 2016 (revised) Mobile handset sale 379 497 Ex-Mobile handset sale 12,274 12,318 Consumer 6,602 6,536 Corporate 3,401 3,445 Others 2,271 2,337 Total 12,653 12,815 |
Business Combinations and Acqui
Business Combinations and Acquisitions of Non-Controlling Interests | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations and Acquisitions of Non-Controlling Interests [Abstract] | |
Business Combinations and Acquisitions of Non-Controlling Interests | Business combinations and acquisitions of non-controlling interests Business combinations 2017 Acquisition by Coltel of control over Telebucaramanga, Metrotel and Optecom On 30 September 2017, as part of the early termination agreement regarding the contract with PARAPAT (refer to Note 2), Colombia Telecomunicaciones, S.A. ESP (Coltel) acquired control of the Colombian companies Empresa de Telecomunicaciones de Telebucaramanga S.A. ESP (“Telebucaramanga”), operating in the city of Bucaramanga; Metropolitana de Telecomunicaciones S.A. ESP (“Metrotel”); and Operaciones Tecnológicas y Comerciales S.A.S. (“Optecom”), operating in the city of Barranquilla, for an overall price of 509,975 million Colombian pesos (approximately 147 million euros on the transaction date). These companies primarily provide fixed telephony, data, pay TV, installation and maintenance services . As a result of assuming control over these companies, Coltel buttressed its position as the telecom leader in Colombia. The combination of infrastructures, product portfolio and commercial network will be useful for maximizing the penetration of products in mobile and fixed segments of both customer bases, and also increasing the volume of corporate and SME customers. Synergies can also be built to reduce operating expenses and lower investments in transmission networks, and the economy of scale can be harnessed regarding installation expenses and possibly duplicated infrastructure. The following table summarizes the consideration, fair values of the assets and liabilities identified on acquisition and the generated goodwill: Millions of euros Consideration paid for the acquisition of control (1) 147 Fair value of the prior stake 41 Fair value of the minority stake 3 Consideration 191 Intangible assets 21 Customer relationships 20 Other intangible assets 1 Property, plant and equipment 113 Deferred tax assets 10 Other non-current assets 7 Cash and cash equivalents 13 Other current assets 22 Deferred tax liabilities (10 ) Other non-current liabilities (99 ) Current liabilities (33 ) Fair value of net assets 44 Goodwill (Note 7) 147 (1) Excluding the proportion assumed by the non-controlling shareholder and the cash and cash equivalents contributed by the companies at the moment of its inclusion in the consolidation scope, the impact in the consolidated cash flow amounted to 85 million euros (see Note 20). As of the date when the present consolidated financial statements were drawn up, the process for allocating the purchase price is provisional. This analysis should conclude in the coming months, yet will not last longer than twelve months from the acquisition date stipulated in the standard. 2016 No significant business combinations were carried out in 2016. 2015 Acquisition of GVT On September 19, 2014 Telefónica, S.A. signed an agreement with Vivendi, S.A. for the acquisition by Telefónica Brasil, S.A. of Global Village Telecom, S.A. and its holding company GVT Participações, S.A. (jointly "GVT") for a cash consideration of 4,663 million euros (through payment in cash and debt assumption), as well as delivery of shares representing 12% of the share capital of the new Telefónica Brasil, S.A. resulting from the integration with GVT. Once the pertinent regulatory authorizations were obtained, the Extraordinary General Shareholders Meeting of Telefónica Brasil, S.A. held on 28 May, 2015, approved the acquisition. The table below sets out the consideration transferred, the fair values of the assets and liabilities identified at the acquisition date, and the goodwill generated. Millions of euros Gross cash consideration (date of agreement) 4,663 Contingent consideration 102 Fair value of 12% of Telefónica Brasil transferred 2,476 Consideration transferred 7,241 Price adjustment for net debt and hedges (2,168 ) Intangible assets 835 Customer relationships 751 Other intangible assets 84 Property, plant and equipment 2,374 Deferred tax assets 182 Accounts receivable 282 Other assets 256 Cash and cash equivalents 116 Financial debt (2,102 ) Trade and other payables (202 ) Provisions (208 ) Other liabilities (217 ) Fair value of net assets 1,316 Goodwill 3,757 Acquisition of control of DTS Once the relevant competence authorizations were obtained, on April 30, 2015 the acquisition by Telefónica of 56% of the share capital of Distribuidora de Televisión Digital, S.A. (DTS). The total consideration amounted to 725 million euros. The table below sets out the total consideration, the fair values of the assets and liabilities identified at acquisition date, and the goodwill generated. Millions of euros Cash payment 56% stake 725 Fair value of the prior stake 739 Intangible assets 378 Customer relationships 362 Other intangible assets 16 Property, plant and equipment 91 Deferred tax assets 454 Trade and other receivables 137 Other assets 213 Financial debt (350 ) Trade and other payables (367 ) Other liabilities (66 ) Fair value of net assets 490 Goodwill 974 Transactions with non-controlling interests 2017 Share swap with KPN In March 2017 Telefónica entered into a swap agreement with Koninklijke KPN NV (hereinafter, KPN) to deliver 72.0 million of its treasury shares (representing 1.43% of its share capital) in exchange for 178.5 million shares of its subsidiary Telefónica Deutschland Holding AG, representing 6.0% of the share capital of the latter (see Note 12). Thus, this transaction did not imply any cash movements. The exchange ratio was determined based on the average of the volume weighted average price of the respective shares over the last five trading sessions. The impact in the consolidated statement of changes in equity was a decrease in net equity attributable to minority interests amounting to 671 million euros (Note 12.h), an increase in treasury shares amounting to 754 million euros and a decrease in retained earnings amounting to 83 million euros. As a result of this agreement, Telefónica increased from 63.2% to 69.2% its shareholding in Telefonica Deutschland. Sale of 24.8% and 15.2% of the total share capital of Telxius Telecom, S.A. On February 20, 2017 Telefónica reached an agreement for the sale of up to 40% of the total share capital of Telxius Telecom, S.A. to KKR, for a total amount of 1,275 million euros ( 12.75 euros per share). The aforementioned agreement included a purchase agreement for the sale of 62 million shares (representing 24.8% of the share capital) of Telxius Telecom, S.A. for a price of 790.5 million euros, as well as options over 38 million shares (representing 15.2% of the share capital) for a price of at least 484.5 million euros. These options corresponded to a call option exercisable by KKR and to a put option exercisable by Telefónica upon maturity of the call option. On October 24, 2017, after obtaining all the relevant regulatory approvals, Telefónica transferred 62 million shares of Telxius (representing 24.8% of its share capital) to KKR in exchange for 790.5 million euros ( 12.75 euros per share). On November 13, 2017 KKR exercised the call option foreseen in the Agreement over 38 million shares of Telxius (representing 15.2% of its share capital) in exchange for 484.5 million euros ( 12.75 euros per share). Following the closing of this sale of 15.2% of the share capital of Telxius, in December 2017, together with 24.8% of the share capital acquired on October 24, 2017, KKR had acquired 40% of the share capital of Telxius in exchange for an aggregate amount of 1,275 million euros (see Note 20). These transactions had no impact on the consolidated results of the Telefónica Group as it consisted of the sale of minority interests, with Telefónica retaining control over Telxius. The impact in the consolidated statement of changes in equity was an increase in net equity attributable to minority interests amounting to 690 million euros (Note12.h), an increase in retained earnings amounting to 570 million euros, and a decrease in translation differences of 9 million euros. 2016 No significant transactions with non-controlling interests were carried out in 2016. 2015 Acquisition from Vivendi of 4.5% of Telefónica Brasil On June 24, 2015 in accordance with the commitments undertaken in the acquisition agreement with GVT, Telefónica proceeded to deliver (through its fully-owned subsidiary Telco TE, S.p.A.) 1,110 million ordinary shares in Telecom Italia, S.p.A. representing 8.2% of the voting equity of Telecom Italia, S.p.A. (equivalent to 5.7% of its share capital) to Vivendi, S.A. and received from Vivendi, S.A. all of the ordinary shares and part of the preference shares of Telefônica Brasil, S.A. which Vivendi, S.A. had received from the sale of GVT, which jointly represent 4.5% of the share capital of Telefônica Brasil, S.A. The fair value of the Telecom Italia, S.p.A. shares delivered to Vivendi as part of the consideration has been calculated on the basis of their market price at the date of the approval of the operation, amounting to 1,264 million euros. The difference between the aforementioned value and the valuation of the minority interest in Telefônica Brasil had an adverse effect on “Equity attributable to the parent Company” in the amount of 277 million euros. After the acquisition of the 4.5% stake of Telefônica Brasil, S.A. from Vivendi, S.A., the stake of the Telefónica Group increased to 70.13% ( 70.22% considering Telefônica Brasil, S.A. treasury shares). Agreement with Vivendi for the exchange of shares of Telefônica Brasil for treasury shares of Telefónica, S.A. In September 2015, after the regulatory approval from CADE, Telefónica delivered to Vivendi 46.0 million of its treasury shares representing 0.95% of its share capital with an effect on treasury shares and in retained earnings in the amount of 555 million euros and 69 million euros, respectively (see Note 12), in exchange for 58.4 million preferred shares of Telefônica Brasil, S.A, (received by Vivendi, S.A. in the context of the acquisition of GVT Participaçoes, S.A.) representing approximately 3.5% of the share capital of Telefônica Brasil, S.A. After the acquisition the stake of Telefónica Group increased to 73.6% . . |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets [Abstract] | |
Intangible Assets | Intangible assets The composition of and movements in net intangible assets in 2017 and 2016 are as follows: 2017 Millions of euros Balance at 12/31/2016 Additions Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/2017 Service concession arrangements and licenses 11,594 493 (1,234 ) — 852 (920 ) — 10,785 Software 2,892 640 (1,441 ) — 1,109 (216 ) 3 2,987 Customer base 3,435 — (639 ) — 1 (87 ) 21 2,731 Trademarks 912 — (74 ) — — (58 ) — 780 Other intangible assets 127 18 (55 ) 2 (5 ) (4 ) 3 86 Intangible assets in process 1,558 667 — — (1,559 ) (30 ) — 636 Total intangible assets 20,518 1,818 (3,443 ) 2 398 (1,315 ) 27 18,005 2016 Millions of euros Balance at 12/31/15 Additions Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/2016 Service concession arrangements and licenses 11,881 340 (1,230 ) (15 ) (2 ) 620 — 11,594 Software 2,722 836 (1,686 ) (16 ) 866 170 — 2,892 Customer base 3,932 — (632 ) — — 135 — 3,435 Trademarks 978 1 (87 ) — — 20 — 912 Other intangible assets 147 32 (63 ) 1 7 2 1 127 Intangible assets in process 1,489 471 — 2 (390 ) (14 ) — 1,558 Total intangible assets 21,149 1,680 (3,698 ) (28 ) 481 933 1 20,518 The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2017 and 2016 are as follows: Balance at 12/31/2017 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,333 (10,548 ) — 10,785 Software 16,407 (13,420 ) — 2,987 Customer base 6,931 (4,200 ) — 2,731 Trademarks 1,909 (1,129 ) — 780 Other intangible assets 1,081 (993 ) (2 ) 86 Intangible assets in process 636 — — 636 Intangible assets 48,297 (30,290 ) (2 ) 18,005 Balance at 12/31/2016 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,843 (10,249 ) — 11,594 Software 16,361 (13,466 ) (3 ) 2,892 Customer base 7,253 (3,818 ) — 3,435 Trademarks 2,017 (1,105 ) — 912 Other intangible assets 1,135 (1,003 ) (5 ) 127 Intangible assets in process 1,558 — — 1,558 Intangible assets 50,167 (29,641 ) (8 ) 20,518 Colombia Telecomunicaciones (Coltel), 67.5% of which is owned by Telefónica and 32.5% of which is owned by the Goverment of the Colombian Nation, availed itself to the general authorization regime on November 28, 2013, applying for the renewal of the spectrum licenses. The Colombian Ministry of Information Technologies and Communication (MinTIC) issued a resolution in March 2014 to renew 850 MHz / 1,900 MHz licenses for 10 additional years. During the settlement of the concession contract, the reversion of certain assets involved in the provisions of mobile voice services (different from radio frequencies) and their scope were discussed. Discussions on the matter concluded in February 2016 without reaching an agreement and the MinTIC convened the Arbitral Tribunal, in accordance with the concession contract (see Appendix VI). On July 25, 2017, Coltel and another telecom operator were notified of the arbitration award issued in the arbitration proceedings initiated by the MinTIC. The arbitration award was not favorable to the co-defendants and as a consequence the shareholders' meeting of Coltel approved a capital increase for an aggregate amount of 1,651,012 million Colombian pesos (approximately 470 million euros) to pay the entire amount set forth in the arbitration award (see Note 2). Both ColTel and Telefónica have initiated legal actions (see Appendix VI). The payment of the sum awarded was recognized as an additional cost of the license since this cost was mandatory and unavoidable in order to continue using the license. During 2017, the investment effort also reflects the renewal of spectrum of 25 MHz in 850 MHz band by Telefónica El Salvador for 15 million euros and the spectrum swap (AWS by 1,900 MHz ) in the Region 8 by Telefónica México for 4 million euros. “Additions” of intangible assets in progress in 2017 includes the acquisition of 2x5 MHz blocks in the 700 MHz band by Telefónica Uruguay for 23 million euros (added to 4 million euros included in additions of service concession arrangements and licenses) and the acquisition of spectrum in the band of 1,800 MHz by Telefónica Costa Rica for 21 million euros. Outstanding among “Additions” of service concession arrangements and licenses in 2016 was the acquisition of an LTE block of 2x15 MHz in the 700 MHz band by Telefónica Peru for 284 million euros. The acquired frequency was immediate availability and allowed enhancing LTE coverage and capacity across the country. During 2016, the investment effort also reflected the acquisition of 7 LTE Regional blocks of 2x10 MHz in the 2.5 GHz band by Telefónica Brazil for 48 million euros. “Inclusion of companies” in 2017 mainly corresponds to Coltel acquiring control over the companies Telebucaramanga, Metrotel and Optecom (see Note 5). Details of the principal concessions and licenses with which the Group operates are provided in Appendix VI. The impact of the monetary adjustments due to hyperinflation in Venezuela is included under “Translation differences and hyperinflation adjustments”. Goodwill The movement in this heading assigned to each Group segment was the following: 2017 Millions of euros Balance at 12/31/16 Acquisitions Write-offs Translation differences and other Balance at 12/31/17 Telefónica Spain 4,306 — — 4 4,310 Telefónica Brazil 11,565 — — (1,508 ) 10,057 Telefónica Germany 4,787 28 — — 4,815 Telefónica United Kingdom 4,824 — — (176 ) 4,648 Telefónica Hispanoamérica 3,040 147 — (262 ) 2,925 Others 164 — — (78 ) 86 Total 28,686 175 — (2,020 ) 26,841 2016 Millions of euros Balance at 12/31/15 Acquisitions Write-offs Translation differences and other Balance at 12/31/16 Telefónica Spain 4,306 — — — 4,306 Telefónica Brazil 9,345 — — 2,220 11,565 Telefónica Germany 4,787 — — — 4,787 Telefónica United Kingdom 5,621 — — (797 ) 4,824 Telefónica Hispanoamérica 3,187 — (215 ) 68 3,040 Others 149 26 (13 ) 2 164 Total 27,395 26 (228 ) 1,493 28,686 Additions of Telefónica Hispanoamérica in 2017 relate to the acquisition of control by Coltel of the companies Empresa de Telecomunicaciones de Telebucaramanga S.A. ESP, Metropolitana de Telecomunicaciones S.A. ESP and Operaciones Tecnológicas y Comerciales S.A.S. (see Note 5). Additions of Telefónica Germany relate to Minodes GmbH and Co-Trade GmbH (see Appendix I). Additions in 2016 related to the acquisitions of Nova Casiopea and Saluspot (see Appendix I). In 2016, after analyzing the business plan approved in October 2016 by the Board of Directors of Telefónica, S.A., and as a result of applying the inflation index to its assets, an impairment loss of 124 million euros was recognized on the total goodwill assigned to Telefónica Venezuela, with a balancing entry in “Other expenses” (see Note 18). Likewise, an impairment loss of 91 million euros was also recognized in relation to the goodwill of Telefónica Móviles México, with a balancing entry in “Other expenses” (see Note 18). A write-off of 13 million euros was recognized in 2016 in relation to the sale of Televisión Federal, S.A. (see Note 18). In order to test for impairment, goodwill has been allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments: 12/31/2017 12/31/2016 Telefónica Spain 4,310 4,306 Telefónica Brazil 10,057 11,565 Telefónica Germany 4,815 4,787 Telefónica United Kingdom 4,648 4,824 Telefónica Hispanoamérica 2,925 3,040 Chile 978 1,022 Peru 739 813 Mexico 339 368 Argentina 161 217 Others Telefónica Hispanoamérica 708 620 Others 86 164 TOTAL 26,841 28,686 Goodwill is tested for impairment at the end of the year using the strategic plans of the various cash-generating units to which the goodwill is assigned, approved by the Board of Directors. The strategic plans cover a period of four years , including the closing year. Therefore, in order to complete the five years of cash flows after the closing year, as a general rule an additional two -year normalization period is added to the strategic plan based on the operating variables until the terminal parameters are reached; the consensus of analysts' forecasts is used as a reference. For specific cases in which the normalization period does not properly reflect the expected behavior of the business, locally drawn up strategic plans will be used to cover the five-year period of cash flows. The process of preparing the CGUs’ strategic plans takes into consideration the current condition of each CGU’s market, analyzing the macroeconomic, competitive, regulatory and technological climate together with each CGU’s competitive positioning and growth opportunities given market projections, as well as the operators' ability to set them apart from the competition. A growth target is therefore defined for each CGU and the operating resources and fixed asset investments that need to be assigned in order to reach this growth target are estimated. In addition, premises are defined for boosting operating efficiency, in line with the strategic transformation initiatives defined, with a view to increasing operating cash flow over the life of the plan. In this process, the Group has also assessed the level of fulfillment of the strategic plans in the past. Main assumptions used in calculating value in use Value in use is calculated for the various CGUs based on the aforementioned approved business plans. Subsequently, certain variables are taken into account such as the OIBDA margin and the Capital Expenditure ratio (expressed as a percentage of revenue), which are considered the key operating variables to measure the business performance and to set financial targets. Finally, the discount rates and the perpetuity growth rates are taken into account. In terms of revenue, the plan is in line with the average three -year estimates made by analysts, which include a trend towards stability or improvement. This trend is supported by service revenue which, leveraging the distinctiveness and quality of the Group's products and services thanks to the investments made, includes growth in the high-value customer base and monetization of the growing data consumption in rational markets, although it is highly competitive in certain segments. Revenue therefore reflects, in the case of Spain, the growth in penetration and revenue of customers converging on a high quality network; in Germany, the strong growth of high-value mobile data customers; in Brazil, the strength of Telefónica's leadership driven by its leadership and quality and capturing integration synergies; and in the United Kingdom, the drive of mobile data. Following is a description of the principal variables considered for each CGU with significant goodwill (Brazil, Spain, United Kingdom and Germany). OIBDA margin and long-term Capital Expenditure (CapEx) ratio The values obtained, described in the previous paragraphs, are compared with the available data on competitors in the geographic markets where Telefónica Group operates. With regard to Europe, the long-term OIBDA margin for operations in Spain is 39% whilst in Germany ( 27% ) and the United Kingdom ( 24% ), it is below this figure. The long-term OIBDA margin is therefore in line with analysts' forecasts over a three year horizon, with Spain estimated at 41% , Germany at 28% and the United Kingdom at 25% . Regarding the ratio of CapEx over revenues, over the term of the strategic plan, the Group’s European operators invest at a percentage of revenue aligned with the range for peers in the region. However, the valuations performed for the impairment tests for Spain, Germany and United Kingdom take into account the opinions of Telefónica Group’s analysts for Spain and United Kingdom, and Telefónica Deutschland’s analysts for Germany with regard to investment needs (around 13% for the three countries). The OIBDA margin for Brazil is in line with the average of analysts' long-term forecasts for peers, at approximately 37% . Over the term of the strategic plan, the operator will invest a percentage in line with the investment needs identified by analysts ( 17% ). There were no significant changes in the operating indicators compared to the previous year. Discount rate The discount rate, applied to measure the cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and debt according the finance structure established for each CGU. This rate is calculated using the capital asset pricing model (CAPM), which takes into account the asset’s systemic risk, and the impact of risks on cash flows not generated internally, such as country risk, business-specific credit risk, currency risk and price risk specific to the financial asset. The most significant components of WACC are summarized as follows: • Risk-Free Rate: understood as the interest rate offered by long-term sovereign bonds. The rate is determined using current market data and estimates of equilibrium levels (according to standard econometric models) between which the interest rates should fall, thus adjusting the return in low rates as a result of the high influence on term premiums of public debt purchased by central banks. • Political Risk Premium: incorporates the insolvency risk inherent to the country due to political and/or financial events, the calculation of which is based on the quoted prices of credit default swaps for each country or, failing this, the EMBI+ index, published by JP Morgan, based on the information available and the liquidity conditions of these swaps. • Equity Risk Premium (ERP), which measures the additional risk required for equity assets with a return greater than risk-free assets, is determined using a combination of historical approaches ( ex post ), backed by external publications and studies of various past returns, and prospective approaches ( ex ante ), based on market publications, taking into account the medium- and long-term profit expectations based on the degree of maturity and development of each country. • Beta Coefficient: is a multiplier of the equity risk premium, considered to be systematic risk. It is estimated based on a series of historical share prices of comparable companies listed on the stock exchange, thus determining the correlation between the return on the companies' shares and the return on the general index that is representative of the stock exchange of the country where said company is listed. The main underlying data used in these calculations are obtained from independent and renowned public external information sources. The after-tax discount rates applied to the cash flow projections in 2017 and 2016 for the main CGUs are as follows: Discount rate in local currency 2017 2016 Spain 5.9% 6.2% Brazil 10.9% 11.3% United Kingdom 6.3% 7.1% Germany 4.7% 5.7% Perpetuity growth rate Cash flow projections as from the sixth year are calculated using an expected constant growth rate (g), considering the consensus estimates among analysts for each business and country, based on the maturity of the industry and technology, and the degree of development of each country. Each indicator is compared to the forecasted long-term real and nominal GDP growth of each country and growth data from external sources, adjusted for any specific characteristics of the business. The perpetuity growth rates applied to the cash flow projections in 2017 and 2016 for the main CGUs are as follows: Perpetuity growth rate in local currency 2017 2016 Spain 0.8% 0.8% Brazil 4.5% 5.0% United Kingdom 0.8% 0.8% Germany 1.0% 1.0% There were no significant changes in the perpetuity growth rates for 2017 compared to those used in 2016 , except for Brazil, which decreased 50 basic points. Europe remains around 1% . In the case of Brazil, the perpetuity growth rate is in line with the Brazilian Central Bank’s medium-term inflation target ( 4% , within a range of ±1.5 p.p.) and is aligned with the analyst consensus for the Strategic Plan horizon (around 4.5% ) and below the forecast nominal GDP growth rate (which oscillates around 7.5% ). A conservative outlook has been maintained, in line with analysts’ expectations. Sensitivity to changes in assumptions The Group carries out a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in such test. For the main CGU the following maximum increases or decreases, expressed in percentage points (p.p.), were assumed: Changes in key assumptions, Spain United Kingdom Germany Brazil Financial variables Discount rate +/- 0.5 +/- 0.5 +/- 1 Perpetuity growth rates +/- 0.25 +/- 0.25 +/- 0.5 Operating variables OIBDA Margin +/- 2 +/- 1.5 +/- 2 Ratio of CapEx/Revenues +/- 1 +/- 0.75 +/- 1 The sensitivity analysis revealed that at December 31, 2017 there is a comfortable gap between the recoverable value and the carrying amount for the main CGU. For Telefónica Móviles México, the local economy has shown strength in an externally complicated context primarily caused by the growing interest rates in the USA and the uncertainty surrounding NAFTA renegotiations. Reforms implemented in recent years have proven to be crucial for enabling different industries to compete by addressing some inefficiencies in the public sector, education system and labor market. The 2017 economic growth forecasts have been trending upward, particularly in light of private consumption, which, despite increased inflation, has been growing at an annual rate of approximately 3% , driven by the labor market with unemployment at its lowest since 2006. Moreover, this growth has enabled a reduction in the fiscal deficit with a primary surplus in pre-crisis conditions. This situation has been reflected in the financial markets and the ratings of the leading rating agencies. Starting with the financial markets, the country risk has fallen nearly 50 basis points on average versus the previous year and the Mexican peso has been less volatile throughout 2017. Regarding the rating agencies, both Fitch and S&P raised their outlook for Mexico to stable during the past year. In contrast to the improvements in the economic environment, the telecommunications market and, in particular, mobile telephony continue to display significant asymmetry between the dominant operator and all other competitors, which continues to enjoy a market share of above 65% in telephony and mobile broadband (measured in number of active lines), despite the reform in the sector initiated by the government, boosting increased competition and entry of new operators. In this context, the impairment test conducted at year-end revealed no impairment losses of the goodwill assigned to Telefónica Móviles México. The sensitivity analysis revealed that a Weighted Average Cost of Capital (WACC) increase of 50 basis points ( 9.55% to 10.05% ) and a smaller terminal growth rate that shrunk by the same amount, could generate a negative impact on goodwill by impairment of approximately 65 million euros . An independent deterioration of one of these two variables would have no impact on the goodwill's carrying value. In turn, a 1.5 percentage point (p.p.) drop in the OIBDA margin and a 0.75 p.p. increase in the investment/sales ratio would not have any impact on the goodwill's carrying value either. |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets [Abstract] | |
Goodwill | Intangible assets The composition of and movements in net intangible assets in 2017 and 2016 are as follows: 2017 Millions of euros Balance at 12/31/2016 Additions Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/2017 Service concession arrangements and licenses 11,594 493 (1,234 ) — 852 (920 ) — 10,785 Software 2,892 640 (1,441 ) — 1,109 (216 ) 3 2,987 Customer base 3,435 — (639 ) — 1 (87 ) 21 2,731 Trademarks 912 — (74 ) — — (58 ) — 780 Other intangible assets 127 18 (55 ) 2 (5 ) (4 ) 3 86 Intangible assets in process 1,558 667 — — (1,559 ) (30 ) — 636 Total intangible assets 20,518 1,818 (3,443 ) 2 398 (1,315 ) 27 18,005 2016 Millions of euros Balance at 12/31/15 Additions Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/2016 Service concession arrangements and licenses 11,881 340 (1,230 ) (15 ) (2 ) 620 — 11,594 Software 2,722 836 (1,686 ) (16 ) 866 170 — 2,892 Customer base 3,932 — (632 ) — — 135 — 3,435 Trademarks 978 1 (87 ) — — 20 — 912 Other intangible assets 147 32 (63 ) 1 7 2 1 127 Intangible assets in process 1,489 471 — 2 (390 ) (14 ) — 1,558 Total intangible assets 21,149 1,680 (3,698 ) (28 ) 481 933 1 20,518 The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2017 and 2016 are as follows: Balance at 12/31/2017 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,333 (10,548 ) — 10,785 Software 16,407 (13,420 ) — 2,987 Customer base 6,931 (4,200 ) — 2,731 Trademarks 1,909 (1,129 ) — 780 Other intangible assets 1,081 (993 ) (2 ) 86 Intangible assets in process 636 — — 636 Intangible assets 48,297 (30,290 ) (2 ) 18,005 Balance at 12/31/2016 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,843 (10,249 ) — 11,594 Software 16,361 (13,466 ) (3 ) 2,892 Customer base 7,253 (3,818 ) — 3,435 Trademarks 2,017 (1,105 ) — 912 Other intangible assets 1,135 (1,003 ) (5 ) 127 Intangible assets in process 1,558 — — 1,558 Intangible assets 50,167 (29,641 ) (8 ) 20,518 Colombia Telecomunicaciones (Coltel), 67.5% of which is owned by Telefónica and 32.5% of which is owned by the Goverment of the Colombian Nation, availed itself to the general authorization regime on November 28, 2013, applying for the renewal of the spectrum licenses. The Colombian Ministry of Information Technologies and Communication (MinTIC) issued a resolution in March 2014 to renew 850 MHz / 1,900 MHz licenses for 10 additional years. During the settlement of the concession contract, the reversion of certain assets involved in the provisions of mobile voice services (different from radio frequencies) and their scope were discussed. Discussions on the matter concluded in February 2016 without reaching an agreement and the MinTIC convened the Arbitral Tribunal, in accordance with the concession contract (see Appendix VI). On July 25, 2017, Coltel and another telecom operator were notified of the arbitration award issued in the arbitration proceedings initiated by the MinTIC. The arbitration award was not favorable to the co-defendants and as a consequence the shareholders' meeting of Coltel approved a capital increase for an aggregate amount of 1,651,012 million Colombian pesos (approximately 470 million euros) to pay the entire amount set forth in the arbitration award (see Note 2). Both ColTel and Telefónica have initiated legal actions (see Appendix VI). The payment of the sum awarded was recognized as an additional cost of the license since this cost was mandatory and unavoidable in order to continue using the license. During 2017, the investment effort also reflects the renewal of spectrum of 25 MHz in 850 MHz band by Telefónica El Salvador for 15 million euros and the spectrum swap (AWS by 1,900 MHz ) in the Region 8 by Telefónica México for 4 million euros. “Additions” of intangible assets in progress in 2017 includes the acquisition of 2x5 MHz blocks in the 700 MHz band by Telefónica Uruguay for 23 million euros (added to 4 million euros included in additions of service concession arrangements and licenses) and the acquisition of spectrum in the band of 1,800 MHz by Telefónica Costa Rica for 21 million euros. Outstanding among “Additions” of service concession arrangements and licenses in 2016 was the acquisition of an LTE block of 2x15 MHz in the 700 MHz band by Telefónica Peru for 284 million euros. The acquired frequency was immediate availability and allowed enhancing LTE coverage and capacity across the country. During 2016, the investment effort also reflected the acquisition of 7 LTE Regional blocks of 2x10 MHz in the 2.5 GHz band by Telefónica Brazil for 48 million euros. “Inclusion of companies” in 2017 mainly corresponds to Coltel acquiring control over the companies Telebucaramanga, Metrotel and Optecom (see Note 5). Details of the principal concessions and licenses with which the Group operates are provided in Appendix VI. The impact of the monetary adjustments due to hyperinflation in Venezuela is included under “Translation differences and hyperinflation adjustments”. Goodwill The movement in this heading assigned to each Group segment was the following: 2017 Millions of euros Balance at 12/31/16 Acquisitions Write-offs Translation differences and other Balance at 12/31/17 Telefónica Spain 4,306 — — 4 4,310 Telefónica Brazil 11,565 — — (1,508 ) 10,057 Telefónica Germany 4,787 28 — — 4,815 Telefónica United Kingdom 4,824 — — (176 ) 4,648 Telefónica Hispanoamérica 3,040 147 — (262 ) 2,925 Others 164 — — (78 ) 86 Total 28,686 175 — (2,020 ) 26,841 2016 Millions of euros Balance at 12/31/15 Acquisitions Write-offs Translation differences and other Balance at 12/31/16 Telefónica Spain 4,306 — — — 4,306 Telefónica Brazil 9,345 — — 2,220 11,565 Telefónica Germany 4,787 — — — 4,787 Telefónica United Kingdom 5,621 — — (797 ) 4,824 Telefónica Hispanoamérica 3,187 — (215 ) 68 3,040 Others 149 26 (13 ) 2 164 Total 27,395 26 (228 ) 1,493 28,686 Additions of Telefónica Hispanoamérica in 2017 relate to the acquisition of control by Coltel of the companies Empresa de Telecomunicaciones de Telebucaramanga S.A. ESP, Metropolitana de Telecomunicaciones S.A. ESP and Operaciones Tecnológicas y Comerciales S.A.S. (see Note 5). Additions of Telefónica Germany relate to Minodes GmbH and Co-Trade GmbH (see Appendix I). Additions in 2016 related to the acquisitions of Nova Casiopea and Saluspot (see Appendix I). In 2016, after analyzing the business plan approved in October 2016 by the Board of Directors of Telefónica, S.A., and as a result of applying the inflation index to its assets, an impairment loss of 124 million euros was recognized on the total goodwill assigned to Telefónica Venezuela, with a balancing entry in “Other expenses” (see Note 18). Likewise, an impairment loss of 91 million euros was also recognized in relation to the goodwill of Telefónica Móviles México, with a balancing entry in “Other expenses” (see Note 18). A write-off of 13 million euros was recognized in 2016 in relation to the sale of Televisión Federal, S.A. (see Note 18). In order to test for impairment, goodwill has been allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments: 12/31/2017 12/31/2016 Telefónica Spain 4,310 4,306 Telefónica Brazil 10,057 11,565 Telefónica Germany 4,815 4,787 Telefónica United Kingdom 4,648 4,824 Telefónica Hispanoamérica 2,925 3,040 Chile 978 1,022 Peru 739 813 Mexico 339 368 Argentina 161 217 Others Telefónica Hispanoamérica 708 620 Others 86 164 TOTAL 26,841 28,686 Goodwill is tested for impairment at the end of the year using the strategic plans of the various cash-generating units to which the goodwill is assigned, approved by the Board of Directors. The strategic plans cover a period of four years , including the closing year. Therefore, in order to complete the five years of cash flows after the closing year, as a general rule an additional two -year normalization period is added to the strategic plan based on the operating variables until the terminal parameters are reached; the consensus of analysts' forecasts is used as a reference. For specific cases in which the normalization period does not properly reflect the expected behavior of the business, locally drawn up strategic plans will be used to cover the five-year period of cash flows. The process of preparing the CGUs’ strategic plans takes into consideration the current condition of each CGU’s market, analyzing the macroeconomic, competitive, regulatory and technological climate together with each CGU’s competitive positioning and growth opportunities given market projections, as well as the operators' ability to set them apart from the competition. A growth target is therefore defined for each CGU and the operating resources and fixed asset investments that need to be assigned in order to reach this growth target are estimated. In addition, premises are defined for boosting operating efficiency, in line with the strategic transformation initiatives defined, with a view to increasing operating cash flow over the life of the plan. In this process, the Group has also assessed the level of fulfillment of the strategic plans in the past. Main assumptions used in calculating value in use Value in use is calculated for the various CGUs based on the aforementioned approved business plans. Subsequently, certain variables are taken into account such as the OIBDA margin and the Capital Expenditure ratio (expressed as a percentage of revenue), which are considered the key operating variables to measure the business performance and to set financial targets. Finally, the discount rates and the perpetuity growth rates are taken into account. In terms of revenue, the plan is in line with the average three -year estimates made by analysts, which include a trend towards stability or improvement. This trend is supported by service revenue which, leveraging the distinctiveness and quality of the Group's products and services thanks to the investments made, includes growth in the high-value customer base and monetization of the growing data consumption in rational markets, although it is highly competitive in certain segments. Revenue therefore reflects, in the case of Spain, the growth in penetration and revenue of customers converging on a high quality network; in Germany, the strong growth of high-value mobile data customers; in Brazil, the strength of Telefónica's leadership driven by its leadership and quality and capturing integration synergies; and in the United Kingdom, the drive of mobile data. Following is a description of the principal variables considered for each CGU with significant goodwill (Brazil, Spain, United Kingdom and Germany). OIBDA margin and long-term Capital Expenditure (CapEx) ratio The values obtained, described in the previous paragraphs, are compared with the available data on competitors in the geographic markets where Telefónica Group operates. With regard to Europe, the long-term OIBDA margin for operations in Spain is 39% whilst in Germany ( 27% ) and the United Kingdom ( 24% ), it is below this figure. The long-term OIBDA margin is therefore in line with analysts' forecasts over a three year horizon, with Spain estimated at 41% , Germany at 28% and the United Kingdom at 25% . Regarding the ratio of CapEx over revenues, over the term of the strategic plan, the Group’s European operators invest at a percentage of revenue aligned with the range for peers in the region. However, the valuations performed for the impairment tests for Spain, Germany and United Kingdom take into account the opinions of Telefónica Group’s analysts for Spain and United Kingdom, and Telefónica Deutschland’s analysts for Germany with regard to investment needs (around 13% for the three countries). The OIBDA margin for Brazil is in line with the average of analysts' long-term forecasts for peers, at approximately 37% . Over the term of the strategic plan, the operator will invest a percentage in line with the investment needs identified by analysts ( 17% ). There were no significant changes in the operating indicators compared to the previous year. Discount rate The discount rate, applied to measure the cash flows, is the weighted average cost of capital (WACC), determined by the weighted average cost of equity and debt according the finance structure established for each CGU. This rate is calculated using the capital asset pricing model (CAPM), which takes into account the asset’s systemic risk, and the impact of risks on cash flows not generated internally, such as country risk, business-specific credit risk, currency risk and price risk specific to the financial asset. The most significant components of WACC are summarized as follows: • Risk-Free Rate: understood as the interest rate offered by long-term sovereign bonds. The rate is determined using current market data and estimates of equilibrium levels (according to standard econometric models) between which the interest rates should fall, thus adjusting the return in low rates as a result of the high influence on term premiums of public debt purchased by central banks. • Political Risk Premium: incorporates the insolvency risk inherent to the country due to political and/or financial events, the calculation of which is based on the quoted prices of credit default swaps for each country or, failing this, the EMBI+ index, published by JP Morgan, based on the information available and the liquidity conditions of these swaps. • Equity Risk Premium (ERP), which measures the additional risk required for equity assets with a return greater than risk-free assets, is determined using a combination of historical approaches ( ex post ), backed by external publications and studies of various past returns, and prospective approaches ( ex ante ), based on market publications, taking into account the medium- and long-term profit expectations based on the degree of maturity and development of each country. • Beta Coefficient: is a multiplier of the equity risk premium, considered to be systematic risk. It is estimated based on a series of historical share prices of comparable companies listed on the stock exchange, thus determining the correlation between the return on the companies' shares and the return on the general index that is representative of the stock exchange of the country where said company is listed. The main underlying data used in these calculations are obtained from independent and renowned public external information sources. The after-tax discount rates applied to the cash flow projections in 2017 and 2016 for the main CGUs are as follows: Discount rate in local currency 2017 2016 Spain 5.9% 6.2% Brazil 10.9% 11.3% United Kingdom 6.3% 7.1% Germany 4.7% 5.7% Perpetuity growth rate Cash flow projections as from the sixth year are calculated using an expected constant growth rate (g), considering the consensus estimates among analysts for each business and country, based on the maturity of the industry and technology, and the degree of development of each country. Each indicator is compared to the forecasted long-term real and nominal GDP growth of each country and growth data from external sources, adjusted for any specific characteristics of the business. The perpetuity growth rates applied to the cash flow projections in 2017 and 2016 for the main CGUs are as follows: Perpetuity growth rate in local currency 2017 2016 Spain 0.8% 0.8% Brazil 4.5% 5.0% United Kingdom 0.8% 0.8% Germany 1.0% 1.0% There were no significant changes in the perpetuity growth rates for 2017 compared to those used in 2016 , except for Brazil, which decreased 50 basic points. Europe remains around 1% . In the case of Brazil, the perpetuity growth rate is in line with the Brazilian Central Bank’s medium-term inflation target ( 4% , within a range of ±1.5 p.p.) and is aligned with the analyst consensus for the Strategic Plan horizon (around 4.5% ) and below the forecast nominal GDP growth rate (which oscillates around 7.5% ). A conservative outlook has been maintained, in line with analysts’ expectations. Sensitivity to changes in assumptions The Group carries out a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in such test. For the main CGU the following maximum increases or decreases, expressed in percentage points (p.p.), were assumed: Changes in key assumptions, Spain United Kingdom Germany Brazil Financial variables Discount rate +/- 0.5 +/- 0.5 +/- 1 Perpetuity growth rates +/- 0.25 +/- 0.25 +/- 0.5 Operating variables OIBDA Margin +/- 2 +/- 1.5 +/- 2 Ratio of CapEx/Revenues +/- 1 +/- 0.75 +/- 1 The sensitivity analysis revealed that at December 31, 2017 there is a comfortable gap between the recoverable value and the carrying amount for the main CGU. For Telefónica Móviles México, the local economy has shown strength in an externally complicated context primarily caused by the growing interest rates in the USA and the uncertainty surrounding NAFTA renegotiations. Reforms implemented in recent years have proven to be crucial for enabling different industries to compete by addressing some inefficiencies in the public sector, education system and labor market. The 2017 economic growth forecasts have been trending upward, particularly in light of private consumption, which, despite increased inflation, has been growing at an annual rate of approximately 3% , driven by the labor market with unemployment at its lowest since 2006. Moreover, this growth has enabled a reduction in the fiscal deficit with a primary surplus in pre-crisis conditions. This situation has been reflected in the financial markets and the ratings of the leading rating agencies. Starting with the financial markets, the country risk has fallen nearly 50 basis points on average versus the previous year and the Mexican peso has been less volatile throughout 2017. Regarding the rating agencies, both Fitch and S&P raised their outlook for Mexico to stable during the past year. In contrast to the improvements in the economic environment, the telecommunications market and, in particular, mobile telephony continue to display significant asymmetry between the dominant operator and all other competitors, which continues to enjoy a market share of above 65% in telephony and mobile broadband (measured in number of active lines), despite the reform in the sector initiated by the government, boosting increased competition and entry of new operators. In this context, the impairment test conducted at year-end revealed no impairment losses of the goodwill assigned to Telefónica Móviles México. The sensitivity analysis revealed that a Weighted Average Cost of Capital (WACC) increase of 50 basis points ( 9.55% to 10.05% ) and a smaller terminal growth rate that shrunk by the same amount, could generate a negative impact on goodwill by impairment of approximately 65 million euros . An independent deterioration of one of these two variables would have no impact on the goodwill's carrying value. In turn, a 1.5 percentage point (p.p.) drop in the OIBDA margin and a 0.75 p.p. increase in the investment/sales ratio would not have any impact on the goodwill's carrying value either. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, plant and equipment [abstract] | |
Property, Plant and Equipment | Property, plant and equipment The composition of and movement in the items comprising net “Property, plant and equipment” in 2017 and 2016 were the following: 2017 Millions of euros Balance at 12/31/16 Additions Depreciation Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/17 Land and buildings 4,858 64 (391 ) (14 ) 139 (293 ) 20 4,383 Plant and machinery 26,770 2,096 (5,062 ) 4 3,455 (2,039 ) 73 25,297 Furniture, tools and other items 1,426 223 (500 ) (4 ) 230 (117 ) 9 1,267 PP&E in progress 3,339 4,496 — (8 ) (4,237 ) (323 ) 11 3,278 Total PP&E 36,393 6,879 (5,953 ) (22 ) (413 ) (2,772 ) 113 34,225 2016 Millions of euros Balance at 12/31/15 Additions Depreciation Disposals Transfers and others Translation differences and hyperinflation adjustments Exclusion of companies Balance at 12/31/16 Land and buildings 4,851 59 (386 ) (36 ) 198 173 (1 ) 4,858 Plant and machinery 24,682 1,325 (5,034 ) (22 ) 4,464 1,369 (14 ) 26,770 Furniture, tools and other items 1,412 190 (531 ) (19 ) 344 30 — 1,426 PP&E in progress 2,965 5,674 — (12 ) (5,365 ) 89 (12 ) 3,339 Total PP&E 33,910 7,248 (5,951 ) (89 ) (359 ) 1,661 (27 ) 36,393 The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December 31, 2017 and 2016 are as follows: Balance at December 31, 2017 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 11,344 (6,958 ) (3 ) 4,383 Plant and machinery 96,335 (70,969 ) (69 ) 25,297 Furniture, tools and other items 6,900 (5,624 ) (9 ) 1,267 PP&E in progress 3,289 — (11 ) 3,278 Total PP&E 117,868 (83,551 ) (92 ) 34,225 Balance at December 31, 2016 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 11,930 (7,069 ) (3 ) 4,858 Plant and machinery 99,945 (73,021 ) (154 ) 26,770 Furniture, tools and other items 7,288 (5,852 ) (10 ) 1,426 PP&E in progress 3,350 — (11 ) 3,339 Total PP&E 122,513 (85,942 ) (178 ) 36,393 Investment by Telefónica Spain in property plant and equipment in 2017 and 2016 amounted to 1,451 an d 1,615 million euros, respectively. Rapid fiber optic roll out, exceeding 19 million premises passed by year-end 2017 , together with investments in LTE network, with 97% population coverage, and transport network modernization. Investment by Telefónica United Kingdom in property plant and equipment in 2017 and 2016 amounted to 727 and 775 million euros, respectively. The investment has been focused on increasing LTE coverage, achieving 99% population coverage by year-end 2017, and also pursuing the improvement of network capacity and quality of customer experience. Investment by Telefónica Germany in property plant and equipment in 2017 and 2016 amounted to 675 and 742 million euros, respectively. The company is focused on network integration which are allowing to enhance customer experience and to capture integration synergies, further LTE network rollout achieving a coverage of 82% by year-end 2017. Investment by Telefónica Brazil in property plant and equipment in 2017 and 2016 amounted to 1,842 and 1,782 million euros, respectively. The investment was mainly dedicated to extending the coverage and capacity of 4G and 3G mobile networks, the deployment and connection of fiber network in the fixed business as well as network integration and simplification of processes and systems. Investment by Telefónica Hispanoamérica in property plant and equipment in 2017 and 2016 amounted to 1,926 and 2,164 million euros, respectively. This investment has been mainly focused on improving the coverage and capacity of 4G and 3G networks, the roll out of ultra-broadband fixed capabilities (fiber / HFC) and the simplification and digitalization of processes and systems. “Inclusion of companies” in 2017 mainly corresponds to Coltel acquiring control over the companies Telebucaramanga, Metrotel and Optecom (see Note 5). The impact of the monetary adjustments due to hyperinflation in Venezuela is included under “Translation differences and hyperinflation adjustments”. Telefónica Group companies have purchased insurance policies to reasonably cover the possible risks to which their property, plant and equipment used in operations are subject, with suitable limits and coverage. In addition, as part of its commercial activities and network deployment, the Group maintains several property acquisition commitments. The timing of scheduled payments in this regard is disclosed in Note 18. Property, plant and equipment deriving from finance leases amounted to 254 million euros at December 31, 2017 ( 476 million euros at December 31, 2016 ). The most significant finance leases are disclosed in Note 22. |
Associates and Joint Ventures
Associates and Joint Ventures | 12 Months Ended |
Dec. 31, 2017 | |
Interests In Other Entities [Abstract] | |
Associates and Joint Ventures | Associates and joint ventures The breakdown of items related to associates and joint ventures recognized in the consolidated statements of financial position and income statements is as follows: Millions of euros 12/31/2017 12/31/2016 Investments accounted for by the equity method 77 76 Loans to associates and joint ventures 16 16 Receivables from associates and joint ventures for current operations (Note 11) 32 28 Financial debt, associates and joint ventures 10 9 Payables to associates and joint ventures (Note 14) 491 497 Millions of euros 2017 2016 2015 Share of income (loss) of investments accounted for by the equity method 5 (5 ) (10 ) Revenue from operations with associates and joint ventures 218 213 217 Expenses from operations with associates and joint ventures 20 32 85 Financial expenses with associates and joint ventures — 2 17 The detail of the movement in investments in associates in 2017 and 2016 was the following: Investments accounted for by the equity method Millions of euros Balance at 12/31/15 80 Additions 17 Translation differences and other comprehensive income 2 Income (loss) (5 ) Dividends (13 ) Transfers and other (5 ) Balance at 12/31/16 76 Additions 8 Translation differences and other comprehensive income (1 ) Income (loss) 5 Dividends (11 ) Balance at 12/31/17 77 Additions in 2016 included 7 million euros related to The Smart Steps Data Technology Company (see Note 10). |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Related Party [Abstract] | |
Related Parties | Related parties Significant shareholders The significant shareholders of the Company are Blackrock, Inc., Bilbao Vizcaya Argentaria, S.A. (BBVA) and Caja de Ahorros y Pensiones de Barcelona (“la Caixa”) with stakes in Telefónica, S.A. of 6.63% , 5.17% and 5.01% , respectively. During 2017 and 2016 the Group did not carry out any significant transactions with Blackrock, Inc., other than the dividends paid corresponding to its stake. A summary of significant transactions between the Telefónica Group and the companies of BBVA and those of la Caixa, carried out at market prices, is as follows: Millions of euros 2017 BBVA La Caixa Finance costs 35 5 Receipt of services 2 9 Purchase of goods — 56 Other expenses 7 — Total costs 44 70 Finance income 28 — Contracts of management 1 — Dividends received (1) 11 N/A Services rendered 38 71 Sale of goods 4 43 Other income — — Total revenue 82 114 Finance arrangements: loans and capital contributions (borrower) 1,038 292 Finance arrangements: loans and capital contributions (lender) — 14 Guarantees 222 51 Commitments — 85 Finance arrangements: loans and capital contributions (lessee) 1,209 414 Dividends paid 128 104 Factoring operations — 250 ( 1) At December 31, 2017 , Telefónica holds a 0.66% stake ( 0.67% at December 31, 2016) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 13.1). In addition, the nominal value of outstanding derivatives held with BBVA and la Caixa in 2017 amounted to 21,749 and 404 million euros, respectively ( 18,047 million euros held with BBVA and 392 million euros held with la Caixa in 2016 ). As explained in Derivatives policy in Note 16, this figure is inflated by the use in some cases of several levels of derivatives applied to the nominal value of a single underlying. The net fair value of these same derivatives in the statement of financial position is 390 and -28 million euros, respectively, at December 31, 2017 ( 988 and -35 million euros, respectively, at December 31, 2016 ). Additionally, at December 31, 2017 there were collateral guarantees on derivatives with BBVA amounting to 286 million euros ( 240 million euros at December 31, 2016 ). Millions of euros 2016 BBVA La Caixa Finance costs 36 2 Receipt of services 5 4 Purchase of goods — 65 Other expenses 1 — Total costs 42 71 Finance income 22 — Contracts of management 1 — Dividends received 15 N/A Services rendered 40 66 Sale of goods 3 42 Other income 11 — Total revenue 92 108 Finance arrangements: loans and capital contributions (borrower) 396 45 Finance arrangements: loans and capital contributions (lender) — 10 Guarantees 314 50 Commitments — 84 Finance arrangements: loans and capital contributions (lessee) 244 203 Dividends 243 185 Factoring operations 533 250 Other related parties The most significant balances and transactions with associates and joint ventures are detailed in Note 9. During the financial year to which these accompanying consolidated financial statements refer, the Directors and senior executives did not perform any transactions with Telefónica, S.A. or any Telefónica Group company other than those in the Group’s normal trading activity and business. Compensation and other benefits paid to members of the Board of Directors and senior executives are detailed in Note 21.f and Appendix II. Telefónica contracted a civil liability insurance scheme (D&O) for Directors, managers and staff with similar functions in the Telefónica Group, with standard conditions in these type of insurance and a premium attributable to 2017 of 1,943,007 euros ( 2,088,500 euros in 2016 ). This scheme provides coverage for Telefónica, S.A. and its subsidiaries, in certain cases. Certain Telefónica Group subsidiaries performed in 2017 transactions with Global Dominion Access Group, related to the Group´s ordinary course of business (mainly in Telefónica de España amounting to 23 million euros). Furthermore, certain Telefónica Group subsidiaries performed in 2016 transactions with the Inditex Group, related to the Group's ordinary course of business, concerning telecommunications and related services, amounting to 36 million euros. In 2017 the aforementioned company is not related parties anymore. A representative from Telefónica remains on China Unicom’s board of directors, and vice versa (see Note 13.1). In addition, Telefónica maintains an industrial alliance with this company. In 2015 a joint venture with China Unicom was incorporated, for the development of Big Data services in China using “Smart Steps” technology, developed by Telefónica. Telefónica’s stake in this company is 45% through Telefónica Digital España, S.L.; China Unicom Broadband Online Limited Corp. owns the remaining 55% stake. In 2016, Telefónica paid 7 million euros for its shareholding in the company (see Note 9). The company is commercially operational and obtained a turnover in 2017 equivalent to 8 million euros. |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Dec. 31, 2017 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Trade and Other Receivables | Trade and other receivables The breakdown of this consolidated statement of financial position heading at December 31, 2017 and 2016 is as follows: Millions of euros 12/31/2017 12/31/2016 Trade receivables billed 7,876 8,620 Trade receivables unbilled 3,015 3,003 Impairment of trade receivables (2,563 ) (2,795 ) Receivables from associates and joint ventures (Note 9) 32 28 Other receivables 367 418 Short-term prepayments 1,366 1,401 Total 10,093 10,675 Public-sector net trade receivables at December 31, 2017 and 2016 amounted to 346 million euros and 331 million euros, respectively. The movement in impairment of trade receivables in 2017 and 2016 is as follows: Millions of euros Impairment provision at December 31, 2015 2,787 Allowances 915 Amounts applied (1,044 ) Translation differences and other 137 Impairment provision at December 31, 2016 2,795 Allowances 998 Inclusion of companies 14 Amounts applied (1,019 ) Translation differences and other (225 ) Impairment provision at December 31, 2017 2,563 The balance of trade receivables billed and receivables from associates and joint ventures net of impairment losses at December 31, 2017 amounted to 5,345 million euros ( 5,853 million euros at December 31, 2016), of which 3,312 million euros were not yet due ( 3,672 million euros at December 31, 2016). Net balance of trade receivables billed of 197 million euros and 260 million euros are over 360 days due at December 31, 2017 and 2016, respectively. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2017 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Equity | Equity a) Share capital and share premium 2017 On September 20, 2017, the public deed evidencing the conversion of bonds, share capital increase and amortization of bonds was registered, on which were issued 154,326,696 new ordinary shares, of a nominal value of 1 euro each, within the framework of the conversion of the bonds mandatorily convertible into shares of Telefónica, S.A. that were issued by its wholly owned subsidiary, Telefónica Participaciones, S.A.U. on September 24, 2014, guaranteed by Telefónica, S.A. As a result of the aforementioned conversion and the referred capital increase, the share capital of Telefónica, S.A. was set at 5,192,131,686 euros, divided into 5,192,131,686 ordinary shares of the same class and series, with a nominal value of 1 euro each of them. At December 31, 2017, Telefónica, S.A.´s share capital amounted to 5,192,131,686 euros and consisted of 5,192,131,686 fully paid ordinary shares of a single series, par value of 1 euro, all recorded by the book-entry system and traded on the Spanish electronic trading system (“Continuous Market”), where they form part of the “Ibex 35” Index, on the four Spanish Stock Exchanges (Madrid, Barcelona, Valencia and Bilbao) and listed on the London and Buenos Aires Stock Exchanges, and on the New York and Lima Stock Exchanges, through American Depositary Shares (‘ADSs’). 2016 On October 11, 2016, the deed of a share capital decrease was registered, cancelling 74,627,988 of own shares, reducing the company´s share capital by 74,627,988 euros. On December 7, 2016, the deed of a share capital increase of 137,233,781 euros was executed, during which 137,233,781 ordinary shares with a par value of 1 euro each were issued, with a charge to reserves; as part of the scrip dividend shareholder remuneration deal. Share capital amounts to 5,037,804,990 euros subsequent to this increase. At December 31, 2016, Telefónica, S.A.´s share capital amounted to 5,037,804,990 euros and consisted of 5,037,804,990 fully paid ordinary shares of a single series, par value of 1 euro. Authorizations by Shareholders’ Meeting With respect to authorizations given regarding share capital, on June 12, 2015, authorization was given at the Annual Shareholders’ Meeting of Telefónica, S.A. for the Board of Directors, at its discretion and in accordance with the Company’s needs, to increase the Company’s capital, once or several times, within a maximum period of five years from that date, up to a maximum nominal increase of 2,469,208,757 euros, equivalent to half of Telefónica, S.A.’s share capital at that date, by issuing and placing new shares, with or without a share premium, and, in all cases, in exchange for cash, expressly considering the possibility that the new shares may not be fully subscribed. The Board of Directors was also empowered to exclude, partially or fully, pre-emptive subscription rights under the terms of article 506 of the Spanish Enterprises Act. However, the power to exclude preemptive rights is limited to 20% of the Company’s share capital on the date of adoption of this resolution.Pursuant to the aforementioned authorizations, as of December 2017, the Board of Directors is empowered to increase the share capital up to the maximum nominal amount of 2,469,208,757 euros. Furthermore, on May 30, 2014, shareholders voted to authorize the acquisition by the Board of Directors of Telefónica, S.A. treasury shares, up to the limits and pursuant to the terms and conditions established at the Shareholders’ Meeting, within a maximum period of five years from that date. However, it specified that in no circumstances could the par value of the shares acquired, added to that of the treasury shares already held by Telefónica, S.A. and by any of its controlled subsidiaries, exceed the maximum legal percentage at any time (currently 10% of Telefónica, S.A.’s share capital). In addition, at the June 9, 2017 Shareholders’ Meeting of Telefónica, S.A., authorization was given for the Board of Directors to issue debentures, bonds, promissory notes and other fixed-income securities and hybrid instruments, including preferred shares, in all cases be they simple, exchangeable, and/or convertible and/or granting the holders thereof a share in the earnings of the company, as well as warrants, with the power to exclude the pre-emptive rights of shareholders. The issuance of the aforementioned securities may be issued at one or several times, at any time, within a maximum period of five years from that date. These securities may be in the form of debentures, bonds, promissory notes or any other kind of fixed-income security, or debt instruments of similar category or hybrid instruments whatever may be the forms admitted in law (including, among others, preferred shares), plain or, in the case of debentures, bonds and hybrid instruments convertible into shares of the Company and/or exchangeable for shares of any of the Group companies, or any other company and/or giving the holders thereof a share in the earnings of the Company. This delegation also includes warrants or other similar securities that might give the right to directly or indirectly subscribe or acquire shares, whether newly issued or outstanding, and which may be paid for by physical delivery or by offset. The aggregated amount of the issuance(s) of securities approved under this delegation of powers may not exceed, at any given time, the sum of 25,000 million euros or the equivalent in another currency. For promissory notes, the outstanding balance of promissory notes issued under this authorization will be calculated for purposes of the aforementioned limit. Also for purposes of the foregoing limit, in the case of warrants, the sum of the premiums and exercise prices of the warrants for each issuance that is approved under this delegation shall be taken into account. b) Dividends Dividends distribution in 2017 Approval was given at the General Shareholders Meeting of June 9, 2017 to pay a gross dividend of 0.40 for each company share issued, in circulation and carrying entitlement to this distribution against unrestricted reserves, payable in two tranches. The first payment of a gross amount of 0.20 in cash per share was made on June 16, 2017 amounting to 994 million euros and the second payment of a gross amount of 0.20 in cash per share was made on December 14, 2017 amounting to 1,025 million euros. Dividends distribution in 2016 and capital increase Approval was given at the Shareholder´s Meeting of Telefónica S.A. of May 12, 2016 to pay a dividend with a charge to unrestricted reserves of a fixed gross 0.40 euros per outstanding share carrying dividend rights. The dividend was paid in full on May 19, 2016, and the total amount paid was 1,906 million euros. On November 11, 2016 the Executive Commission of Telefónica, S.A.’s Board of Directors approved to pay a scrip dividend amounting to approximately 0.35 euros per share consisting of the assignment of free allotment rights with an irrevocable purchase commitment by the Company, and a subsequent capital increase with a charge to reserves by such amount as may be determined pursuant to the terms and conditions of the resolution, by means of the issue of new ordinary shares having a par value of one euro, to fulfill said allotments. The payment was made on December 7, 2016, with and impact in equity amounting to 500 million euros. Additionally, the shareholders of 70.01% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telefónica, S.A. Thus, the final number of shares issued in the capital increase was 137,233,781 shares with a nominal value of 1 euro each. Proposed distribution of profit attributable to equity holders of the parent Telefónica, S.A. generated 554 million euros of profit in 2017. The Company’s Board of Directors will submit the following proposed distribution of 2017 profit for approval at the Shareholders’ Meeting: Millions of euros Legal reserve 51 Other reserves 503 Total 554 Dividends distribution in 2015 and capital increase Approval was given at the Board of Directors’ Meeting of April 29, 2015 to pay a gross 0.40 euros dividend per outstanding share against 2015 profit. This dividend was paid on May 12, 2015 and the total gross amount paid was 1,912 million euros. At its meeting held on November 13, 2015, the Executive Commission of Telefónica, S.A.’s Board of Directors agreed to carry out the execution of the increase in paid-up capital, related to the shareholders compensation by means of a scrip dividend, approved by the Annual General Shareholder’s Meeting of Telefónica, S.A. held on June 12, 2015. Thus, each shareholder received one free allotment right for each Telefónica share held. Such free allotment rights were traded on the Continuous Market in Spain during a period of 15 calendar days. Once this trading period ended, the shareholders of 20.01% of the free-of-charge allotment rights accepted the irrevocable purchase commitment assumed by Telefónica, S.A. Cash payment to these shareholders was made on December 7, 2015, representing an impact in equity of 337 million euros. The shareholders of 79.99% of the free-of-charge allotment rights were entitled, therefore, to receive new shares of Telefónica, S.A. Nevertheless, Telefónica, S.A. has waived the subscription of new shares corresponding to its treasury shares, so the final number of shares issued in the capital increase was 110,857,946 shares with a nominal value of 1 euro each. c) Other equity instruments Undated deeply subordinated securities The undated deeply subordinated securities have been issued by Telefónica Europe, B.V. unless specified otherwise. The characteristic of the undated deeply subordinated securities are the following (millions of euros): Issue date Annual Fix Variable Exercisable from issuer 2017 2016 2015 12/07/17 2.625 % from 06/07/23 rate SWAP + spread incremental 2023 1,000 — — 09/15/16 3.750 % from 03/15/22 rate SWAP + spread incremental 2022 1,000 1,000 — 03/30/15(*) 8.50 % from 03/30/20 rate SWAP + spread incremental 2020 452 452 452 12/04/14 4.20 % from 12/04/19 rate SWAP + spread incremental 2019 850 850 850 03/25/14 5 % from 03/25/20 rate SWAP + spread incremental 2020 750 750 750 5.875 % from 03/25/24 rate SWAP + spread incremental 2024 1,000 1,000 1,000 11/26/13 6.75 % from 11/26/20 rate SWAP + spread incremental 2020 716 716 716 09/18/13 6.5 % from 09/18/18 rate SWAP + spread incremental 2018 1,125 1,125 1,125 7.625 % from 09/18/21 rate SWAP + spread incremental 2021 625 625 625 7,518 6,518 5,518 (*) Issued by Colombia Telecomunicaciones, S.A. ESP ( 500 million US dollars) In all issuances of undated deeply subordinated securities, the issuer has an option to defer the payment of coupons; holders of these securities cannot call for payment. As the repayment of principal and the payment of coupons depend solely on Telefónica’s decision, these undated deeply subordinated securities are equity instruments and are presented under “Other equity instruments” in the accompanying consolidated statement of changes in equity. On December 7, 2017, Telefónica Europe, B.V. issued undated deeply subordinated guaranteed fixed rate reset securities, with the subordinated guarantee of Telefónica, S.A., in an aggregate principal amount of 1,000 million euros and subject to a call option exercisable starting on the fifth anniversary and a half from the issuance date. The Securities will accrue interest at a rate of 2.625% annually as from (and including) the issue date up to June 7, 2023. From (and including) June 7, 2023, the Securities will accrue a fixed rate of interest equal to the applicable 5.5 Swap Rate plus a margin of: (i) 2.327% per year as from June 7, 2023 up to (but excluding) June 7, 2028; (ii) 2.577% per year as from June 7, 2028 up to (but excluding) June 7, 2043; and (iii) 3.327% per year as from (and including) June 7, 2043. In 2017 , the payment of the coupons related to the undated deeply subordinated in an aggregate amount, net of tax effects, of 263 million euros ( 255 million and 247 million euros in 2016 and 2015 , respectively), was recorded as “Retained earnings” in the consolidated statements of changes in equity. Notes mandatorily convertible into shares of Telefónica, S.A. On September 24, 2014, Telefónica Participaciones, S.A.U., issued 1,500 million euros of notes mandatorily convertible into new and/or existing shares of Telefónica, S.A. at a nominal fixed interest rate of 4.9% , due on September 25, 2017, guaranteed by Telefónica, S.A. At maturity of the notes Telefónica, S.A. on behalf of Telefónica Participaciones, S.A.U. delivered a total of 154,341,669 shares of Telefónica S.A. at a conversion price of 9.7174 euros per share (minimum conversion price after the standard adjustments included in the terms of the notes). In order to meet the conversion of the notes, Telefónica S.A. issued 154,326,696 new shares in execution of a capital increase and delivered 14,973 treasury shares. These notes mandatorily convertible were compound instruments that have been split into its two components: a debt component amounting 215 million euros, corresponding to the present value of the coupons; and an equity component, for the remaining amount, due to the issuer option to convert the treasury shares to a fix ratio, included in the heading “other equity instruments”. The third coupon was paid in 2017 amounting to 74 million euros ( 74 million euros in 2016 ). d) Legal reserve According to the consolidated text of the Spanish Corporate Enterprises Act, companies must transfer 10% of profit for the year to a legal reserve until this reserve reaches at least 20% of share capital. The legal reserve can be used to increase capital by the amount exceeding 10% of the increased share capital amount. Except for this purpose, until the legal reserve exceeds the limit of 20% of share capital, it can only be used to offset losses, if there are no other reserves available. At December 31, 2016 , this reserve was amounting to 985 million euros. The Shareholders´ Meeting at June 9, 2017 approved an allocation of 2 million with a charge to the profit of exercise 2016 . At December 31, 2017 , after the capital increase carried forward in 2017 , the Company needs to increase the legal reserve by 51 million euros additionally, until obtain the legal reserve will fully constituted. The proposed distribution of 2017 profit includes an allocation of 51 million euros regarding this concept. e) Retained earnings These reserves include undistributed profits of companies comprising the consolidated Group less interim dividends paid against profit for the year, actuarial gains and losses, the impact of the asset ceiling on defined-benefit plans and the payment of coupons related to subordinated securities, if applicable. In addition, these reserves include revaluation reserves and reserve for cancelled share capital. These reserves are regulated by some restrictions for their distribution. Revaluation reserves The balance of “Revaluation reserves” arose as a result of the revaluation made pursuant to Royal Decree-Law 7/1996 dated June 7 and may be used, free of tax, to offset any losses incurred in the future and to increase capital. Also it may be allocated to unrestricted reserves, provided that the capital gain has been realized. The capital gain will be deemed to have been realized in respect of the portion on which the depreciation has been recorded for accounting purposes or when the revalued assets have been transferred or derecognized. In this respect, an amount of 6 million euros was reclassified to “Retained earnings” in 2017 ( 8 million euros in 2016 and 8 million euros in 2015 ), corresponding to revaluation reserves subsequently considered unrestricted. At December 31, 2017 , this reserve amounts to 78 million euros ( 85 million euros at December 31, 2016 ). Reserve for cancelled share capital In accordance with Section 335.c) of the Spanish Corporate Enterprises Act and to render null and void the right of opposition provided for in Section 334 of the same Act, whenever the Company decreases capital it records a reserve for cancelled share capital for an amount equal to the par value of the cancelled shares, which can only be used if the same requirements as those applicable to the reduction of share capital are met. In 2017 , no amount was recorded in this account. In 2016 , a reserve for cancelled share capital amounting to 75 million euros, the same amount as the capital reduction made in the year. The cumulative amount at December 31, 2017 and 2016 was 731 million euros, respectively. f) Translation differences The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows: Millions of euros 2017 2016 2015 Brazilian real (8,710 ) (5,999 ) (9,884 ) Venezuelan bolivars (see Note 2.a) (3,493 ) (3,165 ) (3,141 ) Pound sterling (3,223 ) (2,918 ) (1,395 ) Other currencies (3,921 ) (2,658 ) (2,369 ) Total Group (19,347 ) (14,740 ) (16,789 ) The cumulative impact of the accounting restatement to adjust for the effects of hyperinflation in Venezuela is also included in the “Translation Differences” line item. g) Treasury share instruments At December 31, 2017 , 2016 and 2015 , Telefónica, S.A. held the following treasury shares: Euros per share Number of shares Acquisition price Trading price Market value* % Treasury shares at 12/31/17 65,687,859 10.48 8.13 534 1.26514 % Treasury shares at 12/31/16 141,229,134 10.48 8.82 1,246 2.80339 % Treasury shares at 12/31/15 141,639,159 11.69 10.24 1,450 2.84690 % (*) Millions of euros In 2017 , 2016 and 2015 the following transactions involving treasury shares were carried out: Number of shares Treasury shares at 12/31/14 128,227,971 Acquisitions 138,036,450 Disposals (47,824,300 ) Employee share option plan (2,724,699 ) Capital reduction (74,076,263 ) Treasury shares at 12/31/15 141,639,159 Acquisitions 77,087,297 Employee share option plan (2,869,334 ) Capital reduction (74,627,988 ) Treasury shares at 12/31/16 141,229,134 Acquisitions — Employee share option plan (3,518,795 ) Other movements (72,022,480 ) Treasury shares at 12/31/17 65,687,859 There has not been treasury shares purchases in 2017 ( 668 million euros and 1,654 million euros in 2016 and 2015 , respectively). The most significant transaction with treasury shares in 2017 was the swap with Koninklijke KPN NV (hereinafter, KPN) by which Telefónica delivered 72.0 million of its treasury shares (representing 1.43% of its share capital) in exchange for 178.5 million shares of its subsidiary Telefónica Deutschland Holding AG, representing 6.0% of the share capital of the latter, amounting to 754 million euros (see Note 5). The main sale of treasury shares in 2015 was the exchange with Vivendi, S.A. of 46 million of treasury shares, for 58.4 million preferred shares of Telefônica Brasil, S.A., amounting to 555 million euros (see Note 5). On September 30, 2017, the first phase of the Telefónica, S.A. long-term incentive plans called “Performance and Investment Plan 2014-2019” (“PIP 2014-2019”) and "Talent for the Future Share Plan (TFSP)" ended, which did not entail the delivery of any shares (see Note 19). On July 31, 2017 the Global Employee Share Plan III matured and 3,187,055 treasury shares were delivered to the Group employees who met the requirements (see Note 19). On June 30, 2016, the third phase of the Telefónica, S.A. long-term incentive plan called “Performance and Investment Plan 2011-2016” (“PIP 2011-2016”) ended, which did not entail the delivery of any shares to Telefónica Group managers. On June 30, 2015, the second phase of the Telefónica, S.A. long-term incentive plan called “Performance and Investment Plan 2011-2016” (“PIP 2011-2016”) ended. According to the level of “Total Shareholder Return” (TSR) achieved, 77% , 2,724,699 shares were delivered (see Note 19). On October 13, 2016, pursuant to the resolution of the share capital reduction, by the cancellation of own shares, adopted by the Annual General Shareholders’ Meeting of Telefónica held on May 12, 2016, the public deed of this share capital reduction was registered. Therefore, 74,627,988 of the own shares of Telefónica, S.A. totalling 813 million euros were cancelled. On July 24, 2015, pursuant to the resolution of the share capital reduction, by the cancellation of own shares, adopted by the Annual General Shareholders’ Meeting of Telefónica held on June 12, 2015, the public deed of this share capital reduction was registered. Therefore, 74,076,263 of the own shares of Telefónica, S.A. totalling 886 million euros were cancelled. The Company maintains a derivative financial instrument subject to net settlement on a notional equivalent to 35.2 million of Telefónica shares in 2017 (same figure in 2016 ), recognized under “Current interest-bearing debt” in the consolidated financial statements for both fiscal years. h) Equity attributable to non-controlling interests “Equity attributable to non-controlling interests” represents the share of non-controlling interests in the equity and income or loss for the year of fully consolidated Group companies. The movements in this heading of the 2017 , 2016 and 2015 consolidated statement of financial position are as follows: Millions of euros Balance at 12/31/16 Sales of non-controlling interests and inclusion of companies Acquisitions of non-controlling interests and exclusion of companies Dividends paid Profit/(loss) for the year Change in translation differences Other movements Balance at 12/31/17 Telefônica Brasil, S.A. 5,756 25 — (320 ) 336 (772 ) (7 ) 5,018 Telefónica Deutschland Holding, A.G. 4,150 — (671 ) (229 ) (140 ) — 4 3,114 Colombia Telecomunicaciones, S.A., ESP (88 ) 605 — — 26 (4 ) (16 ) 523 Telefónica Centroamericana Inversiones, S.L. 354 — — (22 ) 18 (43 ) — 307 Telxius Telecom, S.A. — 690 — — 7 (3 ) — 694 Other 56 — — (12 ) (1 ) (2 ) 1 42 Total 10,228 1,320 (671 ) (583 ) 246 (824 ) (18 ) 9,698 Millions of euros Balance at 12/31/15 Sales of non-controlling interests and inclusion of companies Acquisitions of non-controlling interests and exclusion of companies Dividends paid Profit/(loss) for the year Change in translation differences Other movements Balance at 12/31/16 Telefônica Brasil, S.A. 4,644 — — (232 ) 257 1,099 (12 ) 5,756 Telefónica Deutschland Holding, A.G. 4,638 — — (263 ) (217 ) — (8 ) 4,150 Colombia Telecomunicaciones, S.A., ESP (30 ) — — — (32 ) (7 ) (19 ) (88 ) Telefónica Centroamericana Inversiones, S.L. 354 — — (28 ) 19 8 1 354 Other 59 1 (8 ) (1 ) 3 3 (1 ) 56 Total 9,665 1 (8 ) (524 ) 30 1,103 (39 ) 10,228 Millions of euros Balance at 12/31/14 Sales of non-controlling interests and inclusion of companies Acquisitions of non-controlling interests and exclusion of companies Dividends paid Profit/(loss) for the year Change in translation differences Other movements Balance at 12/31/15 Telefônica Brasil, S.A. 3,656 4,359 (1,714 ) (346 ) 288 (1,603 ) 4 4,644 Telefónica Deutschland Holding, A.G. 5,178 — (116 ) (268 ) (159 ) — 3 4,638 Colombia Telecomunicaciones, S.A., ESP (50 ) 17 — — (8 ) 8 3 (30 ) Telefónica Centroamericana Inversiones, S.L. 326 — — (25 ) 18 34 1 354 Other 76 (8 ) — (2 ) (4 ) — (3 ) 59 Total 9,186 4,368 (1,830 ) (641 ) 135 (1,561 ) 8 9,665 Revenues, OIBDA, capital expenditure and the main items of the statement of financial position for the main companies of the Telefónica Group with non-controlling interests, which are Telefônica Brasil and Telefónica Germany, are included in Note 4. The statements of cash flows of these companies are as follows: Millions of euros Telefônica Brasil 2017 2016 2015 Net cash flow provided by operating activities 3,710 3,123 2,893 Net cash flow used in investing activities (2,285 ) (2,039 ) (4,111 ) Net cash flow used in financing activities (1,653 ) (1,218 ) 1,530 (228 ) (134 ) 312 Millions of euros Telefónica Germany 2017 2016 2015 Net cash flow provided by operating activities 1,942 2,154 2,081 Net cash flow used in investing activities (1,223 ) (1,252 ) (2,180 ) Net cash flow used in financing activities (706 ) (1,323 ) (1,023 ) 13 (421 ) (1,122 ) 2017 In 2017 “Sales of non-controlling interests and inclusion of companies” reflects the effect of the capital increase in Colombia Telecom (see Note 2) and the sale of 40% of the total share capital of Telxius Telecom, S.A.U. to KKR amounting to 1,275 million euros (see Note 5). In addition, it is remarkable the impact of the swap agreement with KPN, by which Telefónica delivered 72.0 million of its treasury shares (representing 1.43% of its share capital) in exchange for 178.5 million shares of its subsidiary Telefónica Deutschland Holding AG, representing 6.0% of the share capital of the latter (see Note 5). 2016 In 2016 it was remarkable the effect of dividends declared by Telefónica Brazil, S.A. and Telefónica Deutschland Holding, A.G., as well as the impact of translation differences, mainly by the evolution of the Brazilian real. 2015 In 2015 , “Sales of non-controlling interests and inclusion of companies” reflected the effect of the capital increase in Telefônica Brasil, S.A. for the acquisition of GVT, and the changes in the investment percentages related to the same operation (see Note 5). Additionally, it is worth highlighting the changes in the investment percentages in Colombia Telecomunicaciones, pursuant to amendment nº 1 of the Framework investment Agreement executed with the Colombian Government (see Note 21.c). |
Financial Assets and Liabilitie
Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments [Abstract] | |
Financial Assets and Liabilities | Financial assets and liabilities 1. Financial assets a) Non-current financial assets The movement in items composing “Non-current financial assets” in 2017 and 2016 , is as follows: Millions of euros Investments Long-term credits Deposits and guarantees Derivative financial assets Impairment provision Non-current prepayments Non-current financial assets Balance at 12/31/15 1,289 2,512 1,425 5,315 (507 ) 371 10,405 Acquisitions 73 952 169 73 (13 ) 43 1,297 Disposals (446 ) (955 ) (102 ) (270 ) 402 (20 ) (1,391 ) Translation differences 8 (37 ) 337 (15 ) 30 6 329 Fair value adjustments and financial updates (103 ) (21 ) 102 151 — — 129 Transfers and other 4 (681 ) 7 (206 ) (66 ) (62 ) (1,004 ) Balance at 12/31/16 825 1,770 1,938 5,048 (154 ) 338 9,765 Acquisitions 16 960 955 — (12 ) 170 2,089 Disposals (155 ) (232 ) (156 ) (120 ) 41 (24 ) (646 ) Translation differences (7 ) (81 ) (258 ) (57 ) 16 (19 ) (406 ) Fair value adjustments and financial updates 5 (1 ) 84 (1,251 ) — — (1,163 ) Transfers and other (34 ) (594 ) 62 (808 ) (29 ) (69 ) (1,472 ) Balance at 12/31/17 650 1,822 2,625 2,812 (138 ) 396 8,167 Investments “Investments” includes the fair value of investments in companies where Telefónica does not exercise significant control and for which there is no specific disposal plan for the short term (see Note 3.i). In June 2017, Telefonica sold its entire shareholding in Mediaset Premium representing 11.1% , which had a negative impact in Net financial expense amounting to 76 million euros. In 2017 shares of China Unicom (Hong Kong) Limited were sold representing 0.24% of its share capital for 72 million euros, that had a negative impact in Net financial expense to 4 million euros. On July 10, 2016, Telefónica sold 1.51% of the share capital of China Unicom (Hong Kong) Limited for 322 million euros (see Note 20), that had a negative impact of 155 million euros on consolidated financial results. At December 31, 2017 , Telefónica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 205 million euros ( 1% at December 31, 2016 , valued at 263 million euros). Additionally, the Telefónica Group’s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounts to 314 million euros ( 283 million euros at December 31, 2016 ), representing 0.66% of its share capital at December 31, 2017 ( 0.67% at December 31, 2016 ). "Transfer and other" in 2017 principally includes the prior stake of the Colombian companies Telebucaramanga, Metrotel y Optecom (see Note 5). At year-end the Group assessed the securities in its portfolio of listed available-for-sale assets individually for impairment. The analysis did not uncover the need to recognize any significant impairment losses. Long-term credits and impairment losses The composition of long-term credits is as follows: Millions of euros 12/31/2017 12/31/2016 Long-term trade receivables 638 593 Long-term receivables for indirect taxes 189 144 Other long-term credits 995 1,033 Total 1,822 1,770 “Other long-term credits” includes long-term financial assets of the subsidiary Seguros de Vida y Pensiones Antares, S.A., fundamentally fixed-income securities, amounting to 692 million euros and 749 million euros at December 31, 2017 and 2016 , respectively. These assets are mainly intended to cover the obligations from the defined benefit plans of Telefónica de España (ITP and Survival), though they do not qualify as “plan assets” under IAS 19 (see Note 15). Additionally, this line item includes long-term financial assets of Telefónica Germany amounting to 58 and 8 million euros at December 31, 2017 and 2016, respectively, that are mainly intended to cover the obligations from the defined benefit plan of Telefónica Germany, though they do not represent "plan assets" in accordance with IAS 19 (see Note 15). The movement in impairment corrections in 2016 was mainly due to the write-off of long-term receivables after the agreement reached by Telefónica Móviles México with other operators on disputes over interconnection tariffs in prior years. Deposits and guarantees Telefónica Brasil has non-current judicial deposits constituted amounting to 1,598 million euros (see Note 15) at December 31, 2017 ( 1,761 million euros at December 31, 2016). At December 31, 2017 there were deposits related to the collateral guarantees on derivatives signed by Telefonica, S.A. and its counterparties for the credit risk management of derivatives amounting to 902 million euros that includes 286 million euros with BBVA ( 240 million euros at December 31, 2016, see Note 10). Derivative financial assets In 2017 “Fair value adjustments and financial updates” mainly relates to the change of value of the long-term derivative financial assets (see section 2.a of this note). b) Current financial assets This heading of financial investments includes the following items: • Derivative financial assets with a short-term maturity or not used to hedge non-current items in the consolidated statement of financial position, in the amount of 845 million euros at December 31, 2017 ( 1,872 million euros at December 31, 2016 , see section 2.a of this Note). • Short-term investments in financial instruments recognized at fair value to cover commitments undertaken by the Group’s insurance companies, amounting to 130 million euros at December 31, 2017 ( 304 million euros at December 31, 2016 ), recorded at fair value. • S hort-term deposits and guarantees amounting to 125 million euros at December 31, 2017 ( 450 million euros at December 31, 2016 ) which include current judicial deposits amounting 82 million euros (see Note 15) constituted by Telefónica Brasil ( 88 million euros at December 31, 2016). • Short-term credits, net of impairment provisions, amounting to 877 million euros at December 31, 2017 ( 205 million euros at December 31, 2016 ). At December 31, 2017 include bank deposits with a maturity beyond three and twelve months formalized by Telefónica, S.A. amounting to 700 million euros. Current financial assets that are highly liquid and have maturity periods of three months or less from the date contracted, and present an insignificant risk of value changes, are recorded under “Cash and cash equivalents” on the accompanying consolidated statement of financial position. c) Breakdown of financial assets The breakdown of financial assets of the Telefónica Group at December 31, 2017 and 2016 , without considering non-current prepayments, is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,074 250 1,117 1,738 822 3,339 18 — 3,592 7,771 7,771 Investments — — 650 — 567 83 — — — 650 650 Long-term credits — 250 467 — 86 613 18 — 1,105 1,822 1,684 Deposits and guarantees — — — — — — — — 2,625 2,625 2,625 Derivative instruments 1,074 — — 1,738 169 2,643 — — — 2,812 2,812 Impairment losses — — — — — — — — (138 ) (138 ) — Current financial assets 163 60 66 731 105 915 — 169 6,157 7,346 7,346 Financial investments 163 60 66 731 105 915 — 169 965 2,154 2,154 Cash and cash equivalents — — — — — — — — 5,192 5,192 5,192 Total 1,237 310 1,183 2,469 927 4,254 18 169 9,749 15,117 15,117 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,716 270 1,333 3,332 864 5,766 21 — 2,776 9,427 9,427 Investments — — 825 — 620 205 — — — 825 825 Long-term credits — 270 508 — 76 681 21 — 992 1,770 1,616 Deposits and guarantees — — — — — — — — 1,938 1,938 1,938 Derivative instruments 1,716 — — 3,332 168 4,880 — — — 5,048 5,048 Impairment losses — — — — — — — — (154 ) (154 ) — Current financial assets 883 118 115 1,173 483 1,806 — 39 4,362 6,690 6,690 Financial investments 883 118 115 1,173 483 1,806 — 39 626 2,954 2,954 Cash and cash equivalents — — — — — — — — 3,736 3,736 3,736 Total 2,599 388 1,448 4,505 1,347 7,572 21 39 7,138 16,117 16,117 The calculation of the fair values of the Telefónica Group’s debt instruments required an estimate, for each currency and counterparty, of a credit spread curve using the prices of the Group’s bonds and credit derivatives. The derivatives portfolio was measured through the techniques and models normally used in the market, based on money market curves and volatility prices available in the markets. Additionally, the credit valuation adjustment or net CVA per counterparty (CVA+DVA) is calculated on that measurement as the method used to measure the credit risks of the counterparties and also Telefónica for the purpose of adjusting the fair value valuation of the derivatives. This adjustment reflects the possibility of bankruptcy or credit rating impairment of the counterparty and Telefónica. 2. Financial liabilities T he breakdown of financial liabilities at December 31, 2017 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2018 2019 2020 2021 2022 Subsequent years Non-current total Total Debentures and bonds 5,313 3,599 5,108 4,760 4,903 17,605 35,975 41,288 Promissory notes & commercial paper 2,107 — 112 — — 187 299 2,406 Total Issues 7,420 3,599 5,220 4,760 4,903 17,792 36,274 43,694 Loans and other payables 1,714 2,250 819 918 531 2,668 7,186 8,900 Derivative instruments (Note 16) 280 214 824 453 185 1,196 2,872 3,152 Total 9,414 6,063 6,863 6,131 5,619 21,656 46,332 55,746 The estimate of future payments for interest on these financial liabilities at December 31, 2017 is as follows: 1,715 million euros in 2018, 1,525 million euros in 2019, 1,323 million euros in 2020, 1,068 million euros in 2021, 914 million euros in 2022 and 7,037 million euros in years after 2022 . For floating rate financing, the Group mainly estimates future interest using the forward curve of the various currencies at December 31, 2017 . Derivative instruments take into account the fair value of derivatives classified as financial liabilities (i.e., those with a negative mark-to-market) and excludes the fair value of derivatives classified as current financial assets ( 845 million euros), and those classified as non-current ( 2,812 million euros) (i.e., those with a positive mark-to-market). In 2016 and 2017 the Group entered into agreements to extend payment terms with various suppliers, and with factoring companies when such payments are discounted. When the new extended payment terms exceed customary payment terms in the industry, trade liabilities are reclassified to other financial liabilities and the deferred payments made are recognized in net cash flow used in financing activities (see Note 20) . At December 31, 2017 the corresponding amount pending payment, recognized in “Loans and other payables”, was 153 million euros ( 210 million euros at December 31, 2016 ). The deferred payments made in relation to this item during the year amounted to 717 million euros ( 1,758 million euros in 2016 ). The composition of these financial liabilities, by category, at December 31, 2017 and 2016 is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Liabilities at amortized cost Total carrying amount Total fair value Issues — — — — — — 43,694 43,694 47,166 Loans and other payables — — — — — — 8,900 8,900 9,010 Derivative instruments 1,180 — 1,972 80 3,072 — — 3,152 3,152 Total financial liabilities 1,180 — 1,972 80 3,072 — 52,594 55,746 59,328 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Liabilities at amortized cost Total carrying amount Total fair value Issues — — — — — — 45,444 45,444 48,686 Loans and other payables — — — — — — 11,398 11,398 11,398 Derivative instruments 2,299 — 1,220 64 3,455 — — 3,519 3,519 Total financial liabilities 2,299 — 1,220 64 3,455 — 56,842 60,361 63,603 The calculation of the fair values of the Telefónica Group’s debt instruments required an estimate, for each currency and subsidiary, of the credit spread curve using the prices of the Group’s bonds and credit derivatives. At December 31, 2017 , some of the financing arranged by Telefónica Group companies in Latin America (Brazil, Panama, Ecuador and Guatemala) which amount to approximately 3% of the Telefónica Group’s gross debt was subject to compliance with certain financial covenants. To date, these covenants are being met. Due to the absence of cross-defaults, breach of the covenants would not affect the debt at a Telefónica, S.A. level. Part of the amount owed by the Telefónica Group includes restatements to amortized cost at December 31, 2017 and 2016 as a result of fair value interest rate and exchange rate hedges. a) Financial liabilities associated to financing activities T he following movement presents the detail of changes in the financial liabilities in 2017 that arise from the financial activities: Cash used in financing activities Millions of euros Balance at 12/31/16 Acquisitions Disposals Translation differences Fair value adjustment and financial updates Others movements Balance at 12/31/17 Issues 42,084 8,390 (6,687 ) (2,178 ) (296 ) (25 ) 41,288 Promissory notes and commercial paper 3,360 60 (1,008 ) (6 ) — — 2,406 Loans and other payables 11,397 4,209 (6,241 ) (699 ) (16 ) 250 8,900 Net derivative instruments (3,401 ) — 396 87 3,075 (662 ) (505 ) Total 53,440 12,659 (13,540 ) (2,796 ) 2,763 (437 ) 52,089 The positive fair value of the Telefónica Group derivatives at December 31, 2017 amounted to 505 million euros (accounts receivable). The variation versus the previous year end represents a reduction of 2,896 million euros mainly due to the dollar devaluation against the euro. This variation is offset mainly by the variation of the different Telefónica Group issues and loans performed in dollars (see Note 16). b) Issues The movement in issues of debentures, bonds and other marketable debt securities in 2017 and 2016 is as follows: Millions of euros Debenture and bond issues Promissory notes and commercial paper Total Balance at 12/31/15 43,557 1,815 45,372 New issues 5,693 1,566 7,259 Redemptions, conversions and exchanges (6,873 ) (25 ) (6,898 ) Revaluation and other movements (293 ) 4 (289 ) Balance at 12/31/16 42,084 3,360 45,444 New issues 8,390 60 8,450 Redemptions, conversions and exchanges (6,687 ) (1,008 ) (7,695 ) Revaluation and other movements (2,499 ) (6 ) (2,505 ) Balance at 12/31/17 41,288 2,406 43,694 Debentures and bonds At December 31, 2017 , the nominal amount of outstanding debentures and bonds issues is 39,581 million euros ( 40,055 million euros at December 31, 2016 ). Appendix III presents the characteristics of all outstanding debentures and bond issues at year-end 2017 , as well as the significant issues made in the year. On July, 24, 2017 there was the maturity date of the mandatory exchangeable bonds into ordinary shares of Telecom Italia, S.p.A., issued by Telefónica, S.A. on July 24, 2014, for 750 million euros. At the maturity date, the Company fulfilled its commitments to deliver the shares with the vesting of the equity swap instrument arranged for that purpose. Telefónica, S.A. has a full and unconditional guarantee on issues made by Telefónica Emisiones, S.A.U., Telefónica Finanzas México, S.A. de C.V., Telefónica Europe, B.V. and Telefónica Participaciones, S.A.U., all of which are, directly or indirectly, fully-owned subsidiaries of Telefónica, S.A. Promissory notes and commercial paper The main programs for issuance of promissory notes and commercial paper are the following: • At December 31, 2017 , Telefónica Europe, B.V. had a program for issuance of commercial paper, guaranteed by Telefónica, S.A., for up to 5,000 million euros. The outstanding balance of commercial paper issued under this program at December 31, 2017 was 1,850 million euros, issued at an average interest rate of -0.17% for 2017 ( 2,630 million euros issued in 2016 at an average rate of -0.01% ). • At December 31, 2017 , Telefónica, S.A. had a corporate promissory note program for 500 million euros, which can be increased to 2,000 million euros, with an outstanding balance at December 31, 2017 amounting to 204 million euros ( 370 million euros in 2016 ). c) Interest-bearing debt The average interest rate on outstanding loans and other payables at December 31, 2017 was 2.01% ( 3.84% in 2016 ). This percentage does not include the impact of hedges arranged by the Group. The main financing transactions included under “Interest-bearing debt” outstanding at December 31, 2017 and 2016 and their nominal amounts are provided in Appendix V. Interest-bearing debt arranged or repaid in 2017 mainly includes the following: Description Limit 12/31/2017 (million euros) Currency Outstanding balance 12/31/2017 (million euros) Arrangement date Maturity date Drawndown 2017 (million euros) Repayment 2017 (million euros) Telefónica, S.A. Syndicated facility 2,500 EUR — 02/19/2015 02/19/2022 — (550 ) Syndicated facility (1) — EUR — 11/17/2015 03/30/2017 — — Structured financing (*) 679 USD 566 12/11/2015 03/11/2026 329 (48 ) Structured financing (*) 469 EUR 423 12/11/2015 03/11/2026 217 (34 ) Structured financing (2)(*) — EUR — 06/13/2014 12/15/2017 (185 ) Bilateral loan (3) — EUR — 02/23/2016 02/23/2017 — (100 ) Bilateral loan (4) — EUR — 11/13/2015 05/16/2017 — (100 ) Bilateral loan (5) 1,500 EUR 1,500 06/26/2014 06/26/2019 — — Bilateral loan (6) — EUR 06/30/2015 12/29/2017 — (200 ) Bilateral loan (7) 150 EUR 150 10/24/2016 03/19/2019 — (150 ) Credit facility 380 EUR 292 12/27/2002 12/27/2020 292 — Credit facility 200 EUR 167 03/27/2013 03/14/2020 167 — Telefónica Germany GmbH & Co. OHG Syndicated facility (8) 750 EUR — 03/22/2016 03/22/2022 650 (700 ) EIB Financing — EUR 450 06/13/2016 06/13/2025 200 — Telefónica Europe, B.V. Structured financing (*) 750 EUR 750 11/28/2016 11/28/2024 750 — (1) On March 30, 2017 an early cancellation was made for the 1,500 million euros syndicated facility originally scheduled to mature in 2019. (2) On December 15, 2017 an early repayment was made for the long-term financing originally scheduled to mature in 2019. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On May 16, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2020. (5) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (6) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (7) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (8) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule showing in the column "Limit 12/31/2017" the undrawn amount. At December 31, 2017 , the Telefónica Group presented availabilities of financing from different sources amounting approximately to 13,531 million euros ( 14,627 million euros at December 31, 2016 ), of which 12,541 million euros maturing in more than twelve months . Loans by currency The breakdown of “Loans and other payables” by currency at December 31, 2017 and 2016 , along with the equivalent value of foreign-currency loans in euros, is as follows: Outstanding balance (in millions) Currency Euros Currency 12/31/17 12/31/16 12/31/17 12/31/16 Euro 4,682 5,174 4,682 5,174 US dollar 2,936 2,812 2,448 2,668 Brazilian Real 3,939 4,744 993 1,381 Colombian Peso 1,398,550 5,473,409 391 1,731 Pounds Sterling 106 109 120 127 Peruvian nuevo sol 462 527 119 149 Other currencies 147 168 Total Group 8,900 11,398 The decrease in debt denominated in Colombian peso is mainly due to the pre-paid of all the debt with the PARAPAT (see Note 22). Appendix IV: Financial instruments The detail of the type of financial instruments arranged by the Group (notional amount) by currency and interest rates at December 31, 2017 is as follows: Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Euro (227 ) 6,238 6,055 7,062 3,382 16,845 39,355 25,568 14,590 40,158 Floating rate 2,861 1,542 157 3,519 508 3,443 12,030 2,474 9,666 12,140 Spread (0.20 %) 0.15 % (1.92 %) (0.10 %) 0.17 % 0.18 % (0.02 %) — — — Fixed rate (3,088 ) 4,696 5,898 3,543 2,874 13,402 27,325 23,094 4,924 28,018 Interest rate (2.09 %) 2.18 % 3.28 % 2.02 % 1.62 % 1.95 % 2.71 % — — — Rate cap — — — — — — — — — — Other european currencies Instruments in CZK (67 ) — — — — — (67 ) — (67 ) (67 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (67 ) — — — — — (67 ) — (67 ) (67 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in GBP 2,324 (567 ) (394 ) — 733 1,014 3,110 3,372 (236 ) 3,136 Floating rate 456 (479 ) (439 ) 79 442 451 510 6 506 512 Spread — — — — — — — — — — Fixed rate 1,868 (88 ) 45 (79 ) 178 563 2,487 3,253 (742 ) 2,511 Interest rate 2.28 % 4.03 % 65.20 % 0.03 % 5.12 % 5.38 % 4.33 % — — — Rate cap — — — — 113 — 113 113 — 113 Instruments in CHF — — — — — — — 583 (584 ) (1 ) Floating rate — — — — — — — — (2 ) (2 ) Spread — — — — — — — — — — Fixed rate — — — — — — — 583 (582 ) 1 Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — America Instruments in USD (1,915 ) 286 229 (1,659 ) 614 2,525 80 17,812 (17,515 ) 297 Floating rate (559 ) 242 228 (1,659 ) 630 1,834 716 659 55 714 Spread (0.27 %) 0.29 % 0.99 % (0.07 %) 0.01 % — 0.78 % — — — Fixed rate (1,356 ) 44 1 — (16 ) 691 (636 ) 17,153 (17,570 ) (417 ) Interest rate (1.27 %) 43.21 % 1,747.03 % — (186.47 %) 11.24 % (25.26 %) — — — Rate cap — — — — — — — — — — Instruments in UYU 16 — — — — — 16 (5 ) 19 14 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 16 — — — — — 16 (5 ) 19 14 Interest rate (0.67 %) — — — — — (0.67 %) — — — Rate cap — — — — — — — — — — Instruments in ARS (159 ) 24 — — — (14 ) (149 ) (141 ) — (141 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (159 ) 24 — — — (14 ) (149 ) (141 ) — (141 ) Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Interest rate 5.09 % 16.22 % — — — 16.27 % 4.35 % — — — Rate cap — — — — — — — — — — Instruments in BRL 317 346 373 333 253 73 1,695 818 881 1,699 Floating rate (690 ) 126 357 319 245 (120 ) 237 239 4 243 Spread (1.06 %) 2.82 % 1.07 % 0.36 % 0.47 % (0.08 %) 7.20 % — — — Fixed rate 1,007 220 16 14 8 193 1,458 579 877 1,456 Interest rate 5.36 % 7.35 % 5.42 % 5.53 % 5.04 % 1.89 % 5.20 % — — — Rate cap — — — — — — — — — — Instruments in CLP (25 ) 105 149 288 326 108 951 (341 ) 1,297 956 Floating rate (94 ) 64 (21 ) 3 329 97 378 — 381 381 Spread — 1.12 % (0.40 %) 26.86 % (0.80 %) 1.54 % 0.14 % — — — Fixed rate 69 41 170 285 (3 ) 11 573 (341 ) 916 575 Interest rate (1.64 %) 3.08 % 4.80 % 4.13 % 4.90 % 7.02 % 3.61 % — — — Rate cap — — — — — — — — — — Instruments in UFC — — — — — — — 254 (267 ) (13 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 254 (267 ) (13 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in PEN 175 31 70 — 62 133 471 241 226 467 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 175 31 70 — 62 133 471 241 226 467 Interest rate 4.26 % 5.28 % 5.10 % — 5.43 % 6.24 % 5.16 % — — — Rate cap — — — — — — — — — — Instruments in VAC 17 25 — 8 — 61 111 112 — 112 Floating rate 17 25 — 8 — 61 111 112 — 112 Spread 3.38 % 3.66 % — 3.50 % — 3.24 % 3.37 % — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in COP 799 117 16 62 70 129 1,193 246 952 1,198 Floating rate 80 15 5 41 36 97 274 269 9 278 Spread 0.41 % 2.89 % 9.33 % 4.27 % 5.25 % 3.82 % 3.12 % — — — Fixed rate 719 102 11 21 34 32 919 (23 ) 943 920 Interest rate 6.46 % 10.63 % 5.35 % 5.32 % 5.31 % 5.25 % 6.80 % — — — Rate cap — — — — — — — — — — Instruments in VEB (2 ) 1 — — — — (1 ) (3 ) — (3 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (2 ) 1 — — — — (1 ) (3 ) — (3 ) Interest rate 0.03 % 16.63 % — — — — (10.69 %) — — — Rate cap — — — — — — — — — — Instruments in MXN 68 40 117 37 43 287 592 427 177 604 Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Floating rate (8 ) 7 8 10 12 89 118 119 — 119 Spread (12.36 )% 6.01 % 6.08 % 5.78 % 6.14 % 5.26 % 6.61 % — — — Fixed rate 76 33 109 27 31 198 474 308 177 485 Interest rate 21.09 % 7.11 % 7.72 % 6.67 % 6.68 % 7.23 % 9.49 % — — — Rate cap — — — — — — — — — — Instruments in GTQ 1 — 18 — — — 19 19 — 19 Floating rate (8 ) — — — — — (8 ) (8 ) — (8 ) Spread 0.01 % — — — — — 0.01 % — — — Fixed rate 9 — 18 — — — 27 27 — 27 Interest rate 4.04 % — 4.00 % — — — 4.01 % — — — Rate cap — — — — — — — — — — Instruments in NIO (7 ) — — — — 6 (1 ) (1 ) — (1 ) Floating rate (7 ) — — — — — (7 ) (7 ) — (7 ) Spread 0.01 % — — — — — 0.01 % — — — Fixed rate — — — — — 6 6 6 — 6 Interest rate — — — — — 7.46 % 7.46 % — — — Rate cap — — — — — — — — — — Asia Instruments in JPY — — — — — — — 70 (77 ) (7 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 70 (77 ) (7 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — TOTAL 47,375 49,031 (505 ) 48,526 Floating rate 14,359 3,863 10,619 14,482 Fixed rate 32,903 45,055 (11,223 ) 33,832 Rate cap 113 113 — 113 Currency Options and Others (*) — — 99 99 (*) Amounts include in fixed rate The table below is an extract of the previous table that shows the sensitivity to interest rates originated by our position on interest rate swaps categorized into instruments entered into for trading purposes and instruments entered into for purposes other than trading at December 31, 2017: Interest rate swaps Millions of euros Maturity Non trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value EUR (134 ) Fixed to fix — — — — — — — 5 Receiving leg (190 ) (5 ) — (100 ) (75 ) — (370 ) (282 ) Average Interest Rate — — — — — — — — Paying leg 190 5 — 100 75 — 370 287 Average Interest Rate 0.52 % 0.85 % — 1.18 % 0.55 % — — — Fixed to floating — — — — — — — (1,010 ) Receiving leg (8,097 ) (5,861 ) (9,145 ) (7,282 ) (4,018 ) (6,262 ) (40,665 ) (22,668 ) Average Interest Rate 1.04 % 0.99 % 1.39 % 1.69 % 1.04 % 1.27 % 1.26 % — Paying leg 8,097 5,861 9,145 7,282 4,018 6,262 40,665 21,658 Average Spread 0.39 % 0.66 % 0.36 % 0.51 % 1.01 % — 0.44 % — Floating to fixed — — — — — — — 871 Receiving leg (5,868 ) (3,359 ) (4,985 ) (3,280 ) (359 ) (4,544 ) (22,395 ) (17,773 ) Average Spread 1.70 % 0.20 % — 0.02 % — — 0.48 % — Paying leg 5,868 3,359 4,985 3,280 359 4,544 22,395 18,644 Average Interest Rate 0.22 % 0.91 % 2.45 % 2.06 % 1.30 % 0.95 % 1.25 % — USD (3 ) Fixed to floating — — — — — — — (6 ) Receiving leg (639 ) (283 ) (283 ) (283 ) (534 ) (142 ) (2,164 ) (755 ) Average Interest Rate 1.45 % 1.40 % 1.52 % 1.61 % 1.73 % 3.47 % 1.68 % — Paying leg 639 283 283 283 534 142 2,164 749 Average Spread 0.62 % 1.52 % 1.61 % 1.68 % 0.92 % — 1.04 % — Floating to fixed — — — — — — — 3 Receiving leg (415 ) — — — (250 ) (142 ) (807 ) (808 ) Average Spread — — — — — — — — Paying leg 415 — — — 250 142 807 811 Average Interest Rate 2.87 % — — — 1.93 % 2.52 % — — GBP (50 ) Fixed to floating — — — — — — — (76 ) Receiving leg (676 ) (28 ) (23 ) (248 ) (524 ) — (1,499 ) (1,575 ) Average Interest Rate 1.63 % 2.25 % 2.36 % 1.76 % 3.27 % — — — Paying leg 676 28 23 248 524 — 1,499 1,499 Average Spread — — — — — — — — Floating to fixed — — — — — — — 26 Receiving leg (789 ) — (68 ) (169 ) (192 ) — (1,218 ) (1,219 ) Average Spread — — — — — — — — Paying leg 789 — 68 169 192 — 1,218 1,245 Average Interest Rate 1.38 % — 0.73 % 2.56 % 1.84 % — — — Interest rate swaps Millions of euros Maturity Trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value EUR 424 Fixed to fixed — — — — — — — 1 Receiving leg — (20 ) — — — — (20 ) (37 ) Average Interest Rate — — — — — — — — Paying leg — 20 — — — — 20 38 Average Spread — 0.85 % — — — — — — Fixed to floating — — — — — — — (88 ) Receiving leg (200 ) — — (500 ) — (1,100 ) (1,800 ) (1,881 ) Average Interest Rate 0.93 % — — 1.25 % — 1.24 % — — Paying leg 200 — — 500 — 1,100 1,800 1,793 Average Spread — — — — — — — — Floating to fixed — — — — — — — 511 Receiving leg (2,166 ) (1,371 ) (4,097 ) (1,102 ) (192 ) (5,270 ) (14,198 ) (10,610 ) Average Spread 0.43 % 1.25 % 0.05 % 0.03 % — — 0.20 % — Paying leg 2,166 1,371 4,097 1,102 192 5,270 14,198 11,121 Average Interest Rate 1.70 % 1.07 % 2.57 % 1.92 % 0.12 % 1.22 % 1.70 % — USD (918 ) Fixed to floating — — — — — — — (918 ) Receiving leg (1,371 ) (1,132 ) (1,779 ) (1,509 ) (1,235 ) (6,359 ) (13,385 ) (13,993 ) Average Interest Rate 1.19 % 3.45 % 3.02 % 3.44 % 1.83 % 3.21 % 2.90 % — Paying leg 1,371 1,132 1,779 1,509 1,235 6,359 13,385 13,075 Average Spread — — 0.22 % — — — 0.03 % — Floating to fixed — — — — — — — — Receiving leg — — — — — — — — Average Spread — — — — — — — — Paying leg — — — — — — — — Average Interest Rate — — — — — — — — MXN (4 ) Fixed to floating — — — — — — — 1 Receiving leg — — (127 ) — — — (127 ) (129 ) Average Interest Rate — — 7.90 % — — — — — Paying leg — — 127 — — — 127 130 Average Spread — — 0.41 % — — — — — Floating to fixed — — — — — — — (5 ) Receiving leg — — (127 ) — — — (127 ) (129 ) Average Spread — — 0.41 % — — — — — Paying leg — — 127 — — — 127 124 Average Interest Rate — — 6.67 % — — — — — GBP (216 ) Fixed to floating — — — — — — — (216 ) Receiving leg (563 ) — (789 ) — (563 ) (451 ) (2,366 ) (2,578 ) Average Interest Rate 1.43 % — 1.87 % — 3.51 % 3.42 % — — Paying leg 563 — 789 — 563 451 2,366 2,362 Average Spread — — — — — — — — Floating to fixed — — — — — — — — Receiving leg — — — — — — — — Average Spread — — — — — — — — Paying leg — — — — — — — — Average Interest Rate — — — — — — — — Millions of euros Maturity Trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value JPY — Fixed to floating — — — — — — — — Receiving leg (74 ) — — — — — (74 ) (74 ) Average Interest Rate 0.32 % — — — — — — — Paying leg 74 — — — — — 74 74 Average Spread — — — — — — — — CLP — Fixed to floating — — — — — — — (3 ) Receiving leg — (64 ) (7 ) (3 ) (3 ) (3 ) (80 ) (86 ) Average Interest Rate — 5.75 % 4.90 % 4.90 % 4.90 % 4.90 % 0.40 % — Paying leg — 64 7 3 3 3 80 83 Average Spread — 1.12 % 1.27 % 1.27 % 1.27 % 1.27 % 0.10 % — Floating to fixed — — — — — — — 3 Receiving leg (87 ) — (27 ) (134 ) — — (248 ) (247 ) Average Spread — — — — — — — — Paying leg 87 — 27 134 — — 248 250 Average Interest Rate 5.05 % — 3.31 % 3.26 % — — — — CHF (17 ) Fixed to floating — — — — — — — (17 ) Receiving leg (214 ) — (192 ) — (128 ) — (534 ) (549 ) Average Interest Rate 0.28 % — 0.95 % — 0.75 % — — — Paying leg 214 — 192 — 128 — 534 532 Average Spread — — — — — — — — BRL (7 ) Fixed to floating — — — — — — — — Receiving leg — — — — — — — — Average Interest Rate — — — — — — — — Paying leg — — — — — — — — Average Spread — — — — — — — — Floating to fixed (2 ) (1 ) — — — — (3 ) (7 ) Receiving leg (72 ) (38 ) — — — — (110 ) (110 ) Average Spread 2.00 % 1.55 % — — — — 1.85 % — Paying leg 70 37 — — — — 107 103 Average Interest Rate — — — — — — — — COP (1 ) Fixed to floating — — — — — — 2 1 Receiving leg (4 ) (8 ) (8 ) |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Dec. 31, 2017 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Trade and other payables | Trade and other payables The composition of “Trade and other payables” is as follows: Millions of euros 12/31/2017 12/31/2016 Non-current Current Non-current Current Trade payables 86 7,943 80 8,043 Payables to suppliers of property, plant and equipment 5 3,580 9 3,816 Debt for spectrum acquisition 569 172 608 504 Other payables 253 1,522 325 1,721 Deferred revenue 774 1,387 903 1,569 Payable to associates and joint ventures (Note 9) — 491 — 497 Total 1,687 15,095 1,925 16,150 “Deferred revenue” principally includes the amount of deferred revenue from sales of prepaid cards, from handsets transferred to the distributor, rights of use on the cable network, activation fees not yet recognized in the income statement and loyalty campaigns. In addition, grants are included amounting to 87 million euros at December 31, 2017 ( 110 million euros at December 31, 2016 ). At December 31, 2017 , “Debt for spectrum acquisition” comprises the deferred portion of the payment for acquiring the spectrum use license in Mexico in 2010, for an equivalent of 598 million euros ( 654 million euros at December 31, 2016 ), and the deferred portion of the payment for the refarming of the radioelectric spectrum acquired in 2014 by Telefónica Brazil, amounting to an equivalent of 65 million euros ( 288 million euros at December 31, 2016 , see Appendix VI). The short term payables in Mexico and Brazil for the concepts previously mentioned, at December 31, 2017 , amounted to 72 and 36 million euros, respectively ( 73 and 261 million euros, respectively at December 31, 2016 ). Payments for financed licenses for the years 2017 and 2016 amounted to 329 and 198 million euros, respectively (see Note 20). The detail of current “Other payables” at December 31, 2017 and 2016 is as follows: Millions of euros 12/31/2017 12/31/2016 Dividends pending payment to non-controlling interests 235 257 Accrued employee benefits 696 774 Advances received on orders 172 189 Other non-financial non-trade payables 419 501 Total 1,522 1,721 “Other non-financial non-trade payables” at December 31, 2017 included the pending payment of 145 million euros corresponding to Telefónica, S.A.’s irrevocable commitment acquired in 2015 to pay a 325 million euros donation to Fundación Telefónica (see Note 18) to provide this entity with the financing required to implement the social programs and activities it currently performs or could initiate in the short and mid term to fulfill its purpose as a foundation. Information on average payment period to suppliers. Third additional provision, “Information requirement” of Law 15/2010 of July 5. In accordance with the aforementioned Law, the following information corresponding to the Spanish companies of the Telefónica Group is disclosed: 2017 2016 Number of days Weighted average maturity period 53 45 Ratio of payments 54 45 Ratio of outstanding invoices 41 42 Million of euros Total payments 6,703 6,727 Outstanding invoices 847 651 T he Telefónica Group’s Spanish companies adapted their internal processes and payment schedules to the provisions of Law 15/2010 (amended by Law 31/2014) and Royal Decree-Law 4/2013, amending Law 3/2004, which establishes measures against late payment in commercial transactions. Engagement conditions with commercial suppliers in 2017 included payment periods of up to 60 days , according to the terms agreed between the parties. For efficiency purposes and in line with general business practice, the Telefónica Group’s companies in Spain have agreed payment schedules with suppliers, whereby most of the payments are made on set days of each month. Invoices falling due between two payment days are settled on the following payment date in the schedule. Payments to Spanish suppliers in 2017 surpassing the established legal limit were the result of circumstances or incidents beyond the payment policies, mainly the delay in issuing invoices (legal obligation of the supplier), the closing of agreements with suppliers over the delivery of goods or the rendering of services, or occasional processing issues. The average payment period to suppliers of the Telefónica Group’s companies in Spain in 2017 , calculated in accordance with the only additional provision of the Resolution of the Instituto de Contabilidad y Auditoría de Cuentas (Spanish Accounting and Audit Institute) dated January 29, 2016, amounted to 53 days ( 45 days in 2016 ). |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2017 | |
Employee Benefits [Abstract] | |
Provisions | Provisions The amounts of provisions in 2017 and 2016 are as follows: 12/31/2017 12/31/2016 Millions of euros Current Non-current Total Current Non-current Total Employee benefits 912 5,666 6,578 1,002 6,147 7,149 Termination plans 515 1,282 1,797 709 1,685 2,394 Post-employment defined benefit plans 9 1,030 1,039 3 935 938 Other benefits 388 3,354 3,742 290 3,527 3,817 Other provisions 1,304 3,552 4,856 1,218 3,726 4,944 Total 2,216 9,218 11,434 2,220 9,873 12,093 a) Employee benefits In 2017 the Group recorded a provision in the amount of 340 million euros ( 1,380 million euros in 2016 ) in order to increase the efficiency for the future representing a further step towards the initiatives focusing on the simplification and transformation of Telefónica. Of this amount, 165 million euros correspond to Teléfonica España, mainly relating to the Telefónica de España, S.A.U., Telefónica Móviles España, S.A.U. and Telefónica Soluciones de Informática y Comunicaciones de España, S.A.U. Individual Suspension Plan described in “Other benefits” ( 837 million euros in 2016 ). Termination plans The movement in provisions for post-employment plans in 2017 and 2016 is as follows: Millions of euros Total Provisions for post-employment plans at 12/31/15 2,583 Additions 571 Retirements/amount applied (822 ) Transfers 35 Translation differences and accretion 27 Provisions for post-employment plans at 12/31/16 2,394 Additions 179 Retirements/amount applied (759 ) Transfers (8 ) Translation differences and accretion (9 ) Provisions for post-employment plans at 12/31/17 1,797 Telefónica Spain Concerning the 2003-2007 labor force reduction plan in Telefónica de España, concluded with 13,870 employees taking part, provisions recorded at December 31, 2017 and 2016 amounted to 83 and 152 million euros, respectively. The amount for this provision classified as current totaled 37 million euros at December 31, 2017 . Concerning the 2011-2013 labor force reduction plan in Telefónica de España, concluded with 6,830 employees taking part, provisions recorded at December 31, 2017 and 2016 amounted to 1,061 and 1,353 million euros, respectively. The amount for this provision classified as current totaled 301 million euros at December 31, 2017 . The companies bound by these commitments calculated provisions required at 2017 and 2016 year-end using actuarial assumptions pursuant to current legislation, including the PERM/F- 2000C mortality tables and a high quality credit market based interest rate. The discount rate used for these provisions at December 31, 2017 , was 0.53% , with an average length of the plans of 2.1 years. Telefónica Germany Within the context of transformation of Telefónica Deutschland following the purchase of E-Plus in a bid to increase profitability by securing operational synergies, a provision for employee restructuring was made in 2014 amounting to 321 million euros. In 2017 an additional provision was made amounting to 44 million euros (additional 46 million euros in 2016 ). This provision amounted to 65 million euros at December 31, 2017 ( 100 million euros at December 31, 2016 ). Telefónica, S.A. With respect to the simplification and transformation process of the Telefónica Group, Telefónica, S.A. launched in 2015 a voluntary termination plan for the employees who met the requirements defined by the Plan regarding age and seniority in the Company, among others. Following this transformation and simplification framework, the Company has, on the one hand, extended the plan termination until 2018 and on the other hand, set up in December 2016 a new voluntary programme aimed at some employees who met certain requirements related to seniority in the Company. In 2017 a similar programme has been launched. The provision for this concept at December 31, 2017 totals 159 million euros ( 184 million euros in 2016 ). Post-employment defined benefit plans The Group has a number of defined-benefit plans in the countries where it operates. The following tables present the main data of these plans: 12/31/2017 Millions of euros Spain United Kingdom Germany Brazil Hispano- américa Others Total Obligation 490 1,828 235 734 80 16 3,383 Assets — (1,651 ) (84 ) (835 ) — (9 ) (2,579 ) Net provision before asset ceiling 490 177 151 (101 ) 80 7 804 Asset ceiling — — — 232 — — 232 Net provision 490 177 151 134 80 7 1,039 Net assets — — — 3 — — 3 12/31/2016 Millions of euros Spain United Kingdom Germany Brazil Hispano- américa Others Total Obligation 533 1,834 233 737 25 16 3,378 Assets — (1,662 ) (128 ) (982 ) — (8 ) (2,780 ) Net provision before asset ceiling 533 172 105 (245 ) 25 8 598 Asset ceiling — — — 337 — — 337 Net provision 533 172 105 95 25 8 938 Net assets — — — 3 — — 3 The movement in the present value of obligations in 2017 and 2016 is as follows: Millions of euros Spain United Kingdom Germany Brazil Hispano- américa Other Total Present value of obligation at 12/31/15 552 1,613 198 449 31 15 2,858 Translation differences — (251 ) — 125 (9 ) — (135 ) Current service cost 7 — 6 1 7 — 21 Interest cost 8 54 5 59 4 1 131 Actuarial losses and gains 17 444 31 149 2 — 643 Benefits paid (51 ) (26 ) (3 ) (46 ) (3 ) — (129 ) Other movements — — (4 ) — (7 ) — (11 ) Present value of obligation at 12/31/16 533 1,834 233 737 25 16 3,378 Translation differences — (67 ) — (109 ) (15 ) (2 ) (193 ) Current service cost 6 — 9 3 2 1 21 Interest cost 6 46 4 73 6 1 136 Actuarial losses and gains (9 ) 60 (8 ) 85 8 — 136 Benefits paid (46 ) (46 ) (3 ) (55 ) (3 ) (1 ) (154 ) Inclusion of companies — — — — 61 — 61 Other movements — 1 — — (4 ) 1 (2 ) Present value of obligation at 12/31/17 490 1,828 235 734 80 16 3,383 Movements in the fair value of plan assets in 2017 and 2016 are as follows: Millions of euros United Kingdom Germany Brazil Other Total Fair value of plan assets at 12/31/15 1,753 122 637 10 2,522 Translation differences (256 ) — 171 — (85 ) Interest income 59 3 86 1 149 Actuarial losses and gains 134 (2 ) 132 — 264 Company contributions — 9 1 — 10 Benefits paid (26 ) (2 ) (45 ) — (73 ) Other movements (2 ) (2 ) — (3 ) (7 ) Fair value of plan assets at 12/31/16 1,662 128 982 8 2,780 Translation differences (61 ) — (130 ) (1 ) (192 ) Interest income 42 2 99 1 144 Actuarial losses and gains 55 — (64 ) — (9 ) Company contributions — 6 1 1 8 Benefits paid (46 ) (2 ) (52 ) (1 ) (101 ) Other movements (1 ) (50 ) (1 ) 1 (51 ) Fair value of plan assets at 12/31/17 1,651 84 835 9 2,579 "Other movements" of Telefónica Germany in 2017 relate to the reclassification of long-term financial assets that do not qualify as plan assets under IAS 19 amounting to 50 million euros (see Note 13). The Group’s principal defined-benefit plans are: a) ITP (Spain) Telefónica Spain reached an agreement with its employees whereby it recognized supplementary pension payments for employees who had retired as of June 30, 1992, equal to the difference between the pension payable by the social security system and that which would be paid to them by ITP (Institución Telefónica de Previsión). Once the aforementioned supplementary pension payments had been quantified, they became fixed, lifelong and non-updateable and 60% of the payments are transferable to the surviving spouse, recognized as such as of June 30, 1992, and to underage children. The amount for this provision totaled 233 million euros at December 31, 2017 ( 265 million euros at December 31, 2016 ). b) Survival (Spain) Serving employees who did not join the defined pension plan are still entitled to receive survivorship benefits at the age of 65. The amount for this provision totaled 257 million euros at December 31, 2017 ( 268 million euros at December 31, 2016 ). As detailed in Note 13, the Group has long-term financial assets to cover the obligations of these two defined benefit plans. The average length of the plans is 8 years. The main actuarial assumptions used in valuing these plans are as follows: Survival ITP 12/31/2017 12/31/2016 12/31/2017 12/31/2016 Discount rate 1.45 % 1.26 % 1.37 % 1.16 % Expected rate of salary increase 0%-0.5% 0% - 0.5% − − Mortality tables PERM/F 2000P OM77 PERM/F-2000P OM77 90%PERM 2000C/98% PERF 2000C 90% PERM 2000C/98% PERF 2000 C The table below shows the sensitivity of the value of termination, post-employment and other obligations, among which is included the Individual Suspension Plan, of Telefónica Group companies in Spain to changes in the discount rate: -100 b.p. +100 b.p. Impact on value Impact on income statement Impact on value Impact on income statement (270 ) (230 ) 248 213 A 100 b.p. increase in the discount rate would reduce the value of the liabilities by 248 million euros and have a positive impact on income statement of 213 million euros before tax. On the other hand, a 100 b.p. decrease in the discount rate would increase the value of the liabilities by 270 million euros and have a negative impact on income statement of 230 million euros before tax. The Telefónica Group actively manages this position and has arranged a derivatives portfolio to significantly reduce the impact of changes in the discount rate (see Note 16). Telefónica United Kingdom Pension Plan The Telefónica United Kingdom Pension Plan provides pension benefits to the various companies of the Telefónica Group in United Kingdom coming from the O2 Group. The Plan is comprised of defined contribution and defined benefit sections. The defined benefit sections were closed to future accrual with effect from February 28, 2013. The companies continued to provide retirement benefits through the defined contribution sections of the Plan. The number of beneficiaries of these plans at December 31, 2017 and 2016 are 4,491 and 4,532 respectively. At December 31, 2017 , the weighted average duration of the Plan was 23 years. The main actuarial assumptions used in valuing the Plan are as follows: 12/31/2017 12/31/2016 Nominal rate of pension payment increase 3.15 % 3.15 % Discount rate 2.45 % 2.60 % Expected inflation 3.30 % 3.35 % Mortality tables 95% S2NA, 95% S2NA, CMI 2016 1% 7.5 CMI 2015 1% The increase in the present value of the obligation in 2016 was mainly a result of the decrease of the rate used to discount it, decisively affected by the fall in interest rates. The methodology used to calculate the discount rate was the same as that of the prior year. Fair value of Plan assets is as follows: Millions of euros 12/31/2017 12/31/2016 Shares — 357 Bonds 1,651 1,306 Cash equivalents — (1 ) Total 1,651 1,662 At December 31, 2017 , reasonably possible changes to one of the following actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below: Millions of euros Increase in defined benefit obligation Discount rate (0.25% decrease) 121 Expected inflation (0.25% increase) 104 Life expectancy (1 year longer) 54 Telefônica Brazil pension plans Telefônica Brazil sponsors the following post-employment benefit plans: Plans Management entity Sponsor Health plans Plano de Assistência Médica ao Aposentado y Programa de Coberturas Especiais (PAMA/PCE) Fundação Sistel de Seguridade Social Telefônica Brasil, jointly and severally with other companies resulting from the privatization of Telebrás (Telecomunicações Brasileiras, S.A.) Assistencia médica – Lei 9.656/98 Telefônica Brasil Telefônica Brasil, TData, Terra Networks and TGLog Pension plans PBS Assistidos (PBS-A) Fundação Sistel de Seguridade Social Telefônica Brasil, jointly and severally with other companies resulting from the privatization of Telebrás (Telecomunicações Brasileiras, S.A.) CTB Telefônica Brasil Telefônica Brasil Telefônica BD Visão Prev Telefônica Brasil Planes PREV Visão Prev Telefônica Brasil Planes VISAO Visão Prev Telefônica Brasil, TData, Terra Networks and TGLog The main actuarial assumptions used in valuing these plans are as follows: 12/31/2017 12/31/2016 Discount rate 9.46% - 9.88% 10.77% - 10.85% Nominal rate of salary increase 5.93 % 6.18 % Long term inflation rate 4.25 % 4.50 % Growth rate for medical costs 7.38 % 7.64 % Mortality tables AT 2000 M/F AT 2000 M/F The discount rate and the growth rate for medical costs are considered to be the most significant actuarial assumptions with a reasonable possibility of fluctuations depending on demographic and economic changes and that may significantly change the amount of the post-employment benefit obligation. The sensitivity to changes in these assumptions is shown below: Present value of the discounted obligation at the current discount rate Present value of the obligation by increasing the discount rate by 0.5% Present value of the obligation by reducing the discount rate by 0.5% Pension plans 469 450 490 Health plans 265 246 286 Total obligation 734 696 776 Present value of the obligation at the current growth rate for medical costs Present value of the obligation by increasing the rate by 1% Present value of the obligation by reducing the rate by 1% Pension plans 469 469 469 Health plans 265 308 230 Total obligation 734 777 699 Other benefits Teléfonica de España, Telefónica Móviles España and Telefónica Soluciones Individual Suspension Plan In 2015 Telefónica de España, S.A.U., Telefónica Móviles España, S.A.U. and Telefónica Soluciones de Informática y Comunicaciones de España, S.A.U. signed the 1st Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. This agreement considered, among other elements, a plan of measures for individual suspension of the employment relationship in 2016 and 2017, applying principles of voluntariness, universality, non-discrimination and social responsibility. In December 2016, the Collective Agreement of Related Companies was extended until 2018, by virtue of the provisions of this same agreement. This plan is based on mutual agreement between the company and the employees, and implies the possibility of voluntarily suspending the employment relationship for an initial three-year period, renewable for consecutive three-year periods until the retirement age. The employees who meet the age and seniority requirements may enter into the Individual Suspension Plan (PSI) in the periods opened for this purposes. In 2017 , the current value of the forecast payment flows to meet the commitments of this program (applying certain hypothesis about estimated number of accessions and future reintegration ratio) was recognized. This figure was calculated using actuarial criteria (PERM/F-2000C tables, combined with the invalidity table published in the 1977 ministerial order) and a high quality credit market based interest rate. The corresponding provision is recognized under “Other provisions” in the above table. The provision at December 31, 2017 amounted to 3,580 million euros ( 3,666 million euros at December 31, 2016). The discount rate used for these provisions at December 31, 2017 , was 1.05% , with an average length of the Plan of 5.2 years. b) Other provisions The movement in “Other provisions” in 2017 and 2016 is as follows: Millions of euros Other provisions at December 31, 2015 4,098 Additions and accretion 1,403 Retirements/amount applied (889 ) Translation differences and other 332 Other provisions at December 31, 2016 4,944 Additions and accretion 1,497 Retirements/amount applied (1,127 ) Translation differences and other (458 ) Other provisions at December 31, 2017 4,856 The Group is exposed to risks of claims and litigation, mainly related to tax and regulatory proceedings, and labor and civil claims. Given the nature of the risks covered by these provisions, it is not possible to determine a reliable schedule of potential payments, if any. Telefónica Brasil Telefônica Brasil, S.A. and its subsidiaries are party to administrative and judicial proceedings and labor, tax and civil claims filed in different courts. The management of Telefónica Group, based in the opinion of its legal counsel, recognized provisions for proceedings for which an unfavorable outcome is considered probable. The balance of these provisions at December 31, 2017 and December, 31 2016 is shown in the following table: Millions of euros 12/31/2017 12/31/2016 Provisions for tax proceedings 902 911 Provisions for regulatory proceedings 278 241 Provisions for labor claims 247 403 Provisions for civil proceedings 266 303 Total 1,693 1,858 Additionally, Telefónica Brasil recognized contingent liabilities according to IFRS 3 generated on acquisition of the controlling interest of Vivo Participaçoes in 2011 and GVT in 2015. These contingent liabilities amounted to 213 million euros at December 31, 2017 ( 256 million euros at December 31, 2016). The detail of provisions for tax proceedings by nature of risk is as follows: Millions of euros 12/31/2017 12/31/2016 Federal taxes 127 100 State taxes 58 66 Municipal taxes 8 9 FUST, FISTEL and EBC 709 736 Total 902 911 Breakdown of changes in provisions for tax proceedings in 2017 and 2016 is as follows: Millions of euros Balance at 12/31/2015 644 Additions (income) 33 Write-offs due to reversal (income) (14 ) Write-offs due to payment (41 ) Monetary updating 99 Translation differences 165 Other movements 25 Balance at 12/31/2016 911 Additions (income) 63 Write-offs due to reversal (income) (20 ) Write-offs due to payment (47 ) Monetary updating 97 Translation differences (134 ) Other movements 32 Balance at 12/31/2017 902 In addition, the management of the Group and its legal counsel understand that losses are possible from tax contingencies in federal, state, municipal and other taxes for an aggregated amount of 8.919 million euros ( 8.748 million euros as of 31 December 2016). Noteworthy state tax-related contingencies include the "ICMS" tax (see Note 17), while the federal taxes include the corporate income tax (see Note 17). Moreover, Telefónica Brasil presently has different open proceedings regarding the Fundo de Universalização de Serviços de Telecomunicações (FUST, refer to Note 21). With regard to regulatory proceedings, Telefónica Brasil is party to administrative proceedings against Agencia Nacional de Telecomunicações (ANATEL) based on an alleged failure to meet sector regulations, and to judicial proceedings to contest sanctions applied by ANATEL at the administrative level. At December 31, 2017, consolidated provisions totaled 278 million euros ( 241 million euros at Diciembre 31, 2016). In addition, the management of the Group and its legal counsel understand that losses are possible from regulatory contingencies amounting to 1,277 million euros at December 31, 2017 ( 1,461 million euros at December 31, 2016). In some situations, in connection with a legal requirement or presentation of guarantees, judicial deposits are made to secure the continuance of the claims under discussion. The judicial deposits by nature of risk at December 31, 2017 and December 31, 2016 are as follows: Millions of euros 12/31/2017 12/31/2016 Tax proceedings 1,066 1,094 Labor claims 223 306 Civil proceedings 304 323 Regulatory proceedings 51 81 Garnishments 36 45 Total 1,680 1,849 Current (see Note 13.b) 82 88 Non-current (see Note 13.a) 1,598 1,761 Telefónica del Perú In 2015, the Group established a provision of 1,521 million Peruvian soles (approximately 431 million euros) in relation to tax claims involving Telefónica Peru (see Note 17). At December 31, 2017 this provision amounted to 425 million euros ( 464 million euros at December 31, 2016). Telefónica, S.A. The Group has continued provisioning the amount of the goodwill amortized for tax purposes (see Note 17), for a total of 215 million euros at December 31, 2017 ( 147 million euros at December 31, 2016). Dismantling of assets "Other provisions" include the provisions for dismantling of assets recognized by the Group companies in the amount of 973 million euros ( 1,001 million euros at December 31, 2016), of which 450 million euros correspond to Telefónica Germany ( 457 million euros at December 31, 2016) and 146 million euros correspond to Telefónica Brazil ( 159 million euros at December 31, 2016). |
Derivative Financial Instrument
Derivative Financial Instruments and Risk Management Policies | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments [Abstract] | |
Derivative Financial Instruments and Risk Management Policies | Derivative financial instruments and risk management policies The Telefónica Group is exposed to various financial market risks as a result of: (i) its ordinary business activity, (ii) debt incurred to finance its business, (iii) its investments in companies, and (iv) other financial instruments related to the above commitments. The main market risks affecting Group companies are as follows: • Exchange rate risk : arises primarily from: (i) Telefónica’s international presence, through its investments and businesses in countries that use currencies other than the euro (primarily in Latin America, but also in the United Kingdom), (ii) debt denominated in currencies other than that of the country where the business is conducted or the home country of the company incurring such debt ,and (iii) for those trade receivables or payables in foreign currency related to the company with the transaction registered. • Interest rate risk : arises primarily in connection with changes in interest rates affecting: (i) financial expenses on floating rate debt (or short-term debt likely to be renewed), due to changes in interest rates and (ii) the value of long-term liabilities at fixed interest rates. • Share price risk : arises primarily from changes in the value of the equity investments (that may be bought, sold or otherwise involved in transactions), from changes in the value of derivatives associated with such investments, from changes in the value of treasury shares and from equity derivatives. • Liquidity risk : the Telefónica Group is also exposed to liquidity risk if a mismatch arises between its financing needs (including operating and financial expense, investment, debt redemptions and dividend commitments) and its sources of finance (including revenues, divestments, credit lines from financial institutions and capital market transactions). The cost of finance could also be affected by movements in the credit spreads (over benchmark rates) demanded by lenders. • Country risk : refers to the possible decline in the value of assets, cash flows generated or cash flows returned to the parent company as a result of political, economic or social instability in the countries where the Telefónica Group operates, especially in Latin America. • Credit risk : appears when a counterpart fails to meet or delays its payment obligations in accordance with the agreed terms, driving an impairment in an asset due to: (i) solvency issues, or (ii) no intention to pay. Risk management The Telefónica Group actively manages these risks through the use of derivatives (primarily on exchange rates, interest rates, share prices and commodities) and by incurring debt in local currencies, where appropriate, with a view to optimize the financial cost and to stabilizing cash flows, the income statement and investments. In this way, it attempts to protect the Telefónica Group’s solvency, facilitate financial planning and take advantage of investment opportunities. The Telefónica Group manages its exchange rate risk and interest rate risk in terms of net financial debt plus commitments and net financial debt as calculated by them. The Telefónica Group believes that these parameters are more appropriate to understanding its debt position. Net financial debt and net financial debt plus commitments take into account the impact of the Group’s cash balance and cash equivalents including derivatives positions with a positive value linked to liabilities. Neither net financial debt nor net financial debt plus commitments as calculated by the Telefónica Group should be considered as a substitute for gross financial debt (the sum of current and non-current interest-bearing debt). For a more detailed description on reconciliation of net financial debt and net financial debt plus commitments to gross financial debt, see Note 2. Exchange rate risk The fundamental objective of the exchange rate risk management policy is that, in event of depreciation in foreign currencies relative to the euro, any potential losses in the value of the OIBDA generated by the businesses in such currencies, caused by depreciation in exchange rates of a foreign currency relative to the euro, are offset (to some extent) by savings from the reduction in the euro value of debt denominated in such currencies. This objective is also reflected on the decrease of the sensitivity to exchange rate variations of the net debt to OIBDA ratio, in order to protect the Group solvency. The degree of exchange rate hedging varies depending on the type of investment and may easily and actively be adjusted. For transactions of purchase or sale of business in currencies other than euro, additional hedges can be made on the estimate prices of the transactions or on estimated cash flows and OIBDA. At December 31, 2017 , the net financial debt in Latin American currencies was equivalent to approximately 4,689 million euros ( 6,355 million euros in 2016). However, the Latin American currencies in which this debt is denominated is not distributed in proportion to the OIBDA generated in each currency. The future effectiveness of the strategy described above as a hedge of exchange rate risks therefore depends on which currencies depreciate relative to the euro. Telefónica occasionally takes out dollar-denominated debt to hedge the euro-dollar intermediate component in the relation Euro-Latin American currencies, either in Spain (where such debt is associated with an investment as long as it is considered to be an effective hedge) or in the country itself, where the market for local currency financing or hedges may be inadequate or non-existent. At December 31, 2017 , the Telefónica Group’s net financial debt denominated in dollars to hedge that component was equivalent to 146 million euros ( 480 million euros in 2016). At December 31, 2017 , the net financial debt in pounds sterling was approximately 1.97 times the value of the business' operating income before depreciation and amortization (OIBDA) in 2017 for Group companies in the United Kingdom, which is in line with the target of twice that of previous years. At December 31, 2017 , the net financial debt denominated in pounds sterling was equivalent to 3,089 million euros, which is more than the 2,828 million euros at December 31, 2016 . The Telefónica Group also manages exchange rate risk by seeking to reduce the negative impact of any exchange rate exposure on the income statement, as a result of transactions recognized on the balance sheet and highly probable transactions, regardless of whether there are open positions. Such open position exposure can arise for any of three reasons: (i) a thin market for local derivatives or difficulty in sourcing local currency finance which makes it impossible to arrange a low-cost hedge (as in Argentina and Venezuela), (ii) financing through intra-group loans, where the accounting treatment of exchange rate risk is different from that for financing through capital contributions, and (iii) as the result of a deliberate policy decision, to avoid the high cost of hedges that are not warranted by expectations or high risk of depreciation. The main transactions that generate or may generate exchange rate risk (regardless of whether or not they have an impact on the income statement) are, among others, as follows: issues in currencies other than the functional currency of the Group company, highly probable transactions in other currencies, future cash inflows in other currencies, investments and divestments, provisions for collections or payments in foreign currency, the actual value of the investments (subsidiaries) in currencies other than the euro. In 2017 , net negative foreign exchange differences (excluding monetary correction) amounted to 419 million euros ( 694 million euros in 2016 ), mainly due to fluctuations in the exchange rate of the Venezuelan bolivar from 673.76 to 36,115.28 Venezuelan bolívar per US dollar, that resulted in exchange losses of 426 million euros. The following table illustrates the sensitivity of foreign currency gains and losses and of equity to changes in exchange rates, where: a) in calculating the impact on the income statement, the exchange rate position affecting the income statement at the end of 2017 was considered constant during 2018 ; b) in calculating the impact on equity, only monetary items have been considered, namely debt and derivatives such as hedges of net investment and loans to subsidiaries related to the investment, whose breakdown is considered constant in 2018 and identical to that existing at the end of 2017 . In both cases, Latin American currencies are assumed change their value against the dollar and the rest of the currencies against the euro by 10% . Millions of euros Currency Change Impact on the consolidated income statement Impact on consolidated equity All currencies vs EUR 10% 17 (352 ) USD vs EUR 10% (2 ) (66 ) European currencies vs EUR 10% (1 ) (303 ) Latin American currencies vs USD 10% 20 17 All currencies vs EUR (10)% (17 ) 352 USD (10)% 2 66 European currencies vs EUR (10)% 1 303 Latin American currencies vs USD (10)% (20 ) (17 ) The Group’s monetary position in Venezuela at December 31, 2017 is a net debt position of 7,358,790 million Venezuelan bolivars (equivalent to approximately -170 million euros). The average exposure in 2017 has been a debtor position, which led to a higher financial income in the amount of 510 million euros due to the effect of the monetary correction for inflation during the year. Interest rate risk The main objective of the interest rate risk management policy is to bring the Company's financing costs into line with the budget for financial expenses for the current year, as well as that indicated in the current strategic plan. In accordance with this objective, Telefónica decided to actively adjust the exposure of its debt to interest rates, i.e., the amount of debt that would accrue interest at fixed rates and variable rates. In order to meet this target, Telefónica mainly carry out the following: a) The interest rate of borrowings tied to a variable interest rate was set. b) Interest rate fluctuations of debt tied to a variable interest rate were reduced. c) Fixed rate debt instruments were converted into variable market rate debt instruments. These transactions may be carried out against an existing underlying asset or those that are highly likely to take place in the future (for example, a highly probable future issue of debt). The Telefónica Group’s financial expenses are exposed to changes in interest rates. In 2017 the Euribor, the dollar Libor, the Brazilian SELIC, the pound sterling Libor, the Mexican UDI and the Colombian UVR were the short term rates that accounted for most of the exposure. In nominal terms, at December 31, 2017 , 71.0% of Telefónica’s net financial debt plus commitments was pegged to fixed interest rates for a period greater than one year, compared to 50.8% of net financial debt plus commitments in 2016 . Of the remaining 29.0% (net debt at floating rates or at fixed rates maturing within one year), 0.8 percentage points had interest rates bounded in a period over one year, versus 0.5 percentage points of net debt at floating rates or with fixed rates maturing within one year at December 31, 2016 . In addition, early retirement and Individual Suspension Plan liabilities (see Note 15) were discounted to present value over the year, based on the curve for instruments with very high credit quality. The increase in interest rates during the year has leaded to a decrease the market value of these liabilities. However, this decrease was nearly completely offset by the decrease in the market value of the hedges on these positions. Net financial results amounted to 2,199 million euros in 2017 , 0.9% lower than the previous year, on one hand thanks a lower cost of debt in European and Latin American currencies and on the other hand, partially offsetting this effect lower impact associated to Venezuela and not repeating savings from the FX hedge linked to United Kingdom in 2016. To illustrate the sensitivity of the Company's net financial expense to fluctuations in short-term interest rates, on one hand a 100 basis point increase in interest rates in all currencies in which Telefónica has financial positions at December 31, 2017 , and a 100 basis point decrease in all currencies has been assumed, and on the other hand a constant position equal to the position at year-end has been considered. To calculate the sensitivity of equity to fluctuations in interest rates, on one hand a 100 basis point increase in interest rates in all currencies and in all periods on the yield curve in which Telefónica has financial positions at December 31, 2017 , and a 100 basis point decrease in all currencies and all periods was assumed, and on the other hand only positions with cash flow hedges were considered, which are basically the only positions in which changes in market value due to interest rate fluctuations are recognized in equity. Millions of euros Change in basis points (bp) Impact on consolidated income statement Impact on consolidated equity +100pb (91 ) 335 -100pb 74 (331 ) Share price risk The Telefónica Group is exposed to changes in the value of equity investments from changes in the value of derivatives associated with such investments, from convertible or exchangeable instruments issued by Telefónica Group, from Share-based payments plans, from treasury shares and from equity derivatives over treasury shares. According to the Share-based payments plans (see Note 19) the shares to be delivered to employees under such plan may be either the parent company treasury shares, acquired by them or any of its Group companies; or newly-issued shares. The possibility of delivering shares to beneficiaries of the plan in the future, implies a risk since there could be an obligation to hand over a maximum number of shares at the end of each phase, whose acquisition (in the event of acquisition in the market) in the future could imply a higher cash outflow than required on the start date of each phase if the share price is above the corresponding price on the phase start date. In the event that new shares are issued for delivery to the beneficiaries of the plan, there would be a dilutive effect for ordinary shareholders of Telefónica as a result of the higher number of shares delivered under such plan outstanding. In 2015, a new cycle of the long-term incentive Plan consisting of the delivery of shares of Telefónica, S.A. aimed at members of the Executives of Telefónica Group denominated Performance Share Plan (PIP). The third and last cycle of this Plan, initially scheduled for 2016, was cancelled (see Note 19). To reduce the risk associated with variations in share price under these plans, Telefónica could acquire instruments that hedge the risk profile of some of these plans. In addition, the Group may use part of the treasury shares of Telefónica, S.A. held at December 31, 2017 to cover shares deliverable under the PIP. The net asset value of the treasury shares could increase or decrease depending on variations in Telefónica, S.A.’s share price. Liquidity risk The Telefónica Group seeks to match the schedule for its debt maturity payments to its capacity to generate cash flows to meet these maturities, while allowing for some flexibility. In practice, this has been translated into two key principles: 1. The Telefónica Group’s average maturity of net financial debt is intended to stay above 6 years, or be restored above that threshold in a reasonable period of time if it eventually falls below it. This principle is considered as a guideline when managing debt and access to credit markets, but not a rigid requirement. When calculating the average maturity for the net financial debt and part of the undrawn credit lines can be considered as offsetting the shorter debt maturities, and extension options on some financing facilities may be considered as exercised, for calculation purposes. 2. The Telefónica Group must be able to pay all commitments over the next 12 months without accessing new borrowing or tapping the capital markets (drawing upon firm credit lines arranged with banks), assuming budget projections are met. At December 31, 2017 , the average maturity of net financial debt ( 44,230 million euros) was 8.08 years (liquidity included). At December 31, 2017 , gross financial debt scheduled to mature in 2018 amounted to 9,414 million euros. These maturities are lower than the amount of funds available, calculated as the sum of: a) cash and cash equivalents and current financial assets; b) annual cash generation projected for 2018 , and c) undrawn credit facilities arranged with banks whose original maturity is over one year (an aggregate of more than 12,541 million euros at December 31, 2017 ), providing flexibility to the Telefónica Group with regard to accessing capital or credit markets in the next 2 years. For a further description of the Telefónica Group’s liquidity and capital resources in 2017 , see Note 13.2 "Financial Liabilities" and Appendix V. Country risk The Telefónica Group managed or mitigated country risk by pursuing two lines of action (in addition to its normal business practices): 1. Partly matching assets to liabilities (those not guaranteed by the parent company) in the Telefónica Group’s Latin American companies such that any potential asset impairment would be accompanied by a reduction in liabilities; and 2. Repatriating funds generated in Latin America that are not required for the pursuit of new, profitable business development opportunities in the region. Regarding the first point, at December 31, 2017 , the Telefónica Group’s Latin American companies had net financial debt not guaranteed by the parent company of 3,079 million euros, which represents 7% of net financial debt of the Group. Nevertheless, in certain countries, such as Venezuela, there is a net cash balance (instead of a net liability balance). Regarding the net repatriation of funds to Spain, 344 million euros from Latin America companies have been received in 2017 , of which 1,134 million euros was from dividends and on the other hand cash outflows of 790 million euros, mainly, due to capital increases of Group companies. Credit risk The Telefónica Group trades in derivatives with creditworthy counterparties. Therefore, Telefónica, S.A. generally trades with credit entities whose “senior debt” ratings are of at least “A-” or in case of Spanish entities in line with the credit rating of Kingdom of Spain. In Spain, where most of the Group’s derivatives portfolio is held, there are netting agreements with financial institutions, with debtor or creditor positions offset in case of bankruptcy, limiting the risk to the net position. In addition, the CDS (Credit Default Swap) of all the counterparties with which Telefónica, S.A. operates is monitored at all times in order to assess the maximum allowable CDS for operating at any given time. Transactions are generally only carried out with counterparties whose CDS is below the threshold. CVA or Credit Valuation Adjustment is the method used to measure credit risk for both counterparties and Telefonica in order to determine the fair value of the derivatives portfolio. This adjustment reflects the probability of default or the deterioration of the credit quality of both Telefonica and its counterparties. The simplified formula to calculate CVA is Expected Exposure times Probability of Default times Loss Given Default. In order to calculate these variables standard market practices are used. When managing credit risk, Telefonica considers the use of CDS, novations, derivatives with Break Clauses and signing CSA´s under certain conditions. For other subsidiaries, particularly those in Latin America, assuming a stable sovereign rating provides a ceiling which is below “A”, trades are with local financial entities whose rating by local standards is considered to be of high creditworthiness. Meanwhile, with credit risk arising from cash and cash equivalents, the Telefónica Group places its cash surpluses in high quality and highly liquid money-market assets. These placements are regulated by a general framework, revised annually. Counterparties are chosen according to criteria of liquidity, solvency and diversification based on the conditions of the market and countries where the Group operates. The general framework sets: the maximum amounts to be invested by counterparty based on its rating (long-term debt rating); and the instruments in which the surpluses may be invested (money-market instruments). The Telefónica Group considers customer credit risk management as a key element to achieve its business and customer base growth targets in a sustainable way. This management approach relies on the active evaluation of the risk-reward balance within the commercial operations and on the adequate separation between the risk ownership and risk management functions. Formal delegation of authority procedures and management practices are implemented in the different Group companies, taking into account benchmark risk management techniques but adapted to the local characteristics of each market. Commercial debtors that may cause a relevant impact on the Telefónica Group consolidated financial statements and increased risk profile products - due to customer target, term, channels or other commercial characteristics - are subject to specific management practices in order to mitigate the exposure to credit risk. T his customer credit risk management model is embedded in the day-to-day operational processes of the different companies, where the credit risk assessment guides both the product and services available for the different customers and the collection strategy. The Telefónica Group’s maximum exposure to credit risk is initially represented by the carrying amounts of the financial assets (Notes 11 and 13) and the guarantees given by the Telefónica Group. Several Telefónica Group companies provide operating guarantees granted by external counterparties, which are offered during their normal commercial activity, in bids for licenses, permits and concessions, and spectrum acquisitions. At December 31, 2017 , these guarantees amounted to approximately 5,144 million euros ( 5,134 million euros at December 31, 2016 ). Capital management Telefónica’s corporate finance department takes into consideration several factors for the evaluation of the Telefónica’s capital structure, with the aim of maintaining the solvency and creating value to the shareholders. The corporate finance department estimates the cost of capital on a continuous basis through the monitoring of the financial markets and the application of standard industry approaches for calculating weighted average cost of capital, or WACC, so that it can be applied in the valuation of businesses in course and in the evaluation of investment projects. Telefónica also uses as reference a net financial debt (excluding items of a non-recurring or exceptional nature) that allows for a comfortable investment grade credit rating as assigned by credit rating agencies, aiming at protecting credit solvency and making it compatible with alternative uses of cash flow that could arise at any time. These general principles are refined by other considerations and the application of specific variables, such as country risk in the broadest sense, or the volatility in cash flow generation that are considered, when evaluating the financial structure of the Telefónica Group and its different areas. Derivatives policy At December 31, 2017 , the nominal value of outstanding derivatives with external counterparties amounted to 145,166 million equivalent, a 4.6% decrease from December 31, 2016 ( 152,096 million euros equivalent). This figure is inflated by the use in some cases of several levels of derivatives applied to the nominal value of a single underlying liability. For example, a foreign currency loan can be hedged into floating rate, and then each interest rate period can be fixed using a fixed rate hedge, or FRA (forward rate agreement) The high volume is also due to the fact that when a derivative transaction is cancelled, the company may either cancel the derivative or take the opposite position, which cancels out the variability thereof. The second option is usually chosen in order to cut costs. Even using such techniques to reduce the position, it is still necessary to take extreme care in the use of derivatives to avoid potential problems arising through error or a failure to understand the real position and its associated risks. The main principles in the management of derivatives are detailed as follow: 1) Derivatives based on a clearly identified hedged items. Telefónica’s derivatives policy emphasizes the following points: Acceptable underlyings include assets and liabilities, profits, revenues and cash flows in either a company’s functional currency or another currency. These flows can be contractual (debt and interest payments, settlement of foreign currency payables, etc.), reasonably certain or foreseeable (PP&E purchases, future debt issues, commercial paper programs, etc.). The acceptability of an underlying asset in the above cases does not depend on whether it complies with accounting rules requirements for hedge accounting, as is required in the case of certain intragroup transactions, for instance. Parent company investments in subsidiaries with functional currencies other than the euro also qualify as acceptable underlying assets. Economic hedges are hedges that have a designated underlying asset and that, under certain circumstances, may offset the changes in the value of the underlying asset. These economic hedges may not always meet the requirements and pass the effectiveness tests established by accounting standards to be treated as hedges for accounting purposes. The decision to arrange these hedges even if they fail the effectiveness test or if they do not meet certain requirements will depend on the marginal impact on the income statement and, therefore, on how far this may compromise the goal of having a stable income statement. In any case, the changes are recognized in the income statement. 2) Matching of the hedged item to one side of the derivative. This matching basically applies to foreign currency debt and derivatives hedging foreign currency payments by Telefónica Group subsidiaries. The aim is to eliminate the risk arising from changes in foreign currency interest rates. Nonetheless, even when the aim is to achieve perfect hedging for all cash flows, the lack of liquidity in certain markets, especially in Latin American currencies, has meant that historically there have been mismatches between the terms of the hedges and those of the debts they are meant to hedge. The Telefónica Group intends to reduce these mismatches, provided that doing so does not involve disproportionate costs. In this regard, if adjustment does prove too costly, the financial timing of the underlying asset in foreign currency will be modified in order to minimize interest rate risk in foreign currency. In certain cases, the timing of the underlying as defined for derivative purposes may not be exactly the same as the timing of the contractual underlying. 3) Matching the company contracting the derivative and the company that owns the hedged item. Generally, the aim is to ensure that the hedging derivative and the hedged asset or liability belong to the same company. Sometimes, however, the holding companies (Telefónica, S.A. and Telefónica Latinoamérica Holding, S.L.) have arranged hedges on behalf of a subsidiary that owns the underlying asset. The main reasons for separating the hedge and the underlying asset were possible differences in the legal validity of local and international hedges (as a result of unforeseen legal changes) and the different credit ratings of the counterparties (of the Telefónica Group companies as well as those of the banks). 4) Ability to measure the derivative’s fair value using the valuation systems available to the Telefónica Group. Telefónica uses several tools to evaluate and manage the risk involved in derivatives and debt. These tools most notably include the Kondor+ system, licensed by Reuters, for extended use among various financial institutions, as well as the specialized libraries in the MBRM financial calculation, both of which are widespread throughout the market and have shown proven reliability. In order to perform these calculations, customary market techniques are used when configuring the calculation methods and information from money market curves is used on a daily basis as market inputs (swaps, depos, FRAs, etc.) for interest rates, official fixings for exchange rates and the interest rates and volatility matrices for interest and FX rates that are listed in the multi-contributor systems, Reuters and Bloomberg. For those yield curves that are less liquid or whose prices published in Reuters and Bloomberg are considered not to adequately reflect the market situation, these curves will be requested from relevant banks in these markets. 5) Sale of options only when there is an underlying exposure. Telefónica considers the sale of options when: i) there is an underlying exposure (on the consolidated statement of financial position or associated with a highly probable cash outflow) that would offset the potential loss for the year if the counterparty exercised the option. This exposure does not have to be treated as a purchased option, but rather it can be another type of hedged item (in these cases, hedge accounting does not apply since this hedging instrument does not meet the criteria required by accounting standards to treat the sale of options as hedging instruments), or ii) the option is part of a structure in which another derivative offsets any loss. The sale of options is also permitted in option structures where, at the moment they are taken out, the net premium is either positive or zero. For instance, it would be possible to sell short-term options on interest rate swaps that entitle the counterparty to receive a certain fixed interest rate, below the level prevailing at the time the option was sold. This would mean that if rates fell and the counterparty exercised its option, the Group would swap part of its debt from floating rate to a lower fixed rate, having received a premium. 6) Hedge accounting. The main risks that may qualify for hedge accounting are as follows: • Variations in market interest rates (either money-market rates, credit spreads or both) that affect the value of the underlying asset or the measurement of the cash flows. • Variations in exchange rates that change the value of the underlying asset in the company’s functional currency and affect the measurement of the cash flow in the functional currency. • Variations in the volatility of any financial variable, asset or liability that affect either the valuation or the measurement of cash flows on debt or investments with embedded options, whether or not these options are separable. • Variations in the valuation of any financial asset, particularly shares of companies included in the portfolio of “Available-for-sale financial assets”. • Variations in the price of commodities related to contracts that the Group has with third parties. Regarding the underlying: • Hedges can cover all or part of the value of the underlying. • The risk to be hedged can be for the whole period of the transaction or for only part of the period. • The underlying may be a highly probable future transaction, or a contractual underlying (loan, foreign currency payment, investment, financial asset, etc.) or a combination of both that defines an underlying with a longer term. This may on occasion mean that the hedging instruments have longer terms than the related contractual underlying. This happens when the Group enters into long-term swaps, caps or collars to protect ourselves against interest rate rises that may raise the financial expense of its promissory notes, commercial paper and some floating rate loans which mature earlier than their hedges. These floating rate financing programs are highly likely to be renewed and Telefónica commits to this by defining the underlying asset in a more general way as a floating rate financing program whose term coincides with the maturity of the hedge. In those cases in which the underlying assets representing the risk hedged are cancelled or refinanced early, and if there is an open risk with similar characteristics as the underlyi |
Income Tax Matters
Income Tax Matters | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Income Tax Matters | Income tax matters Pursuant to a Ministerial Order dated December 27, 1989, Telefónica, S.A. files consolidated tax returns in Spain for certain Group companies. The consolidated tax group comprised 45 companies at December 31, 2017 ( 58 companies at December, 31 2016 ). This tax consolidation regime applies indefinitely providing the companies continue to meet the requirements set down in prevailing legislation, and that application of the regime is not expressly waived. Group companies resident in Spain that are not part of this consolidation regime and non-resident companies file individual or aggregated tax returns under the tax law applicable in each country. Deferred taxes movement The movements in deferred taxes in the Telefónica Group in 2017 and 2016 are as follows: Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2016 8,229 2,395 Additions 1,702 579 Disposals (1,711 ) (413 ) Transfers (196 ) (391 ) Translation differences and hyperinflation adjustments (211 ) (70 ) Company movements and others 7 45 Balance at December 31, 2017 7,820 2,145 Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2015 8,675 2,550 Additions 2,141 327 Disposals (2,325 ) (519 ) Transfers (194 ) (12 ) Translation differences and hyperinflation adjustments (28 ) 14 Company movements and others (40 ) 35 Balance at December 31, 2016 8,229 2,395 Main changes registered in 2017 After the early termination of the contract with PARAPAT (refer to Note 2), Colombia Telecomunicaciones, S.A. ESP derecognized tax credits due to temporary differences associated with the debt with PARAPAT amounting to 324 million euros, and recognized tax credits for negative tax bases and temporary differences of 233 million euros and 63 million euros, respectively. Besides, after the completion of a deferred tax asset recoverability analysis, based in the Company financial projections, tax losses carryforwards amounting to 163 million euros have also been capitalized. Telefónica Brasil recognized tax credits for loss carryforwards amounting to 198 million euros, mainly generated in the year. On the other hand, the evolution of temporary differences resulted in additions and disposals of deferred tax assets amounting to 258 million euros and 281 million euros, respectively. In addition, Telefónica Brasil recognized deferred tax liabilities amounting to 317 million euros, mainly related to the tax amortization of goodwill. After the merger through absorption of its subsidiary Telefónica Móviles Chile, S.A., Inversiones Telefónica Móviles Holding, S.A. recognized deferred tax assets totaling 193 million euros. The deferred tax assets of Telefónica Germany decreased from 427 million euros at December 31, 2016 to 162 million euros at December 31, 2017, mainly due to the evolution of temporary differences for the tax amortization of intangible assets. Given that Venezuela is considered a hyperinflationary economy, the financial statements of Telefónica Venezolana are adjusted for inflation (see Note 3.a). The hyperinflation adjustment is not deductible according to the present tax regime in Venezuela, thus it generates deferred taxes for the differences between the accounting value and the tax value of the net assets. These deferred taxes do not represent a cash outflow and the net impact in equity will be neutral when the assets are totally amortized. The movement of these deferred taxes in 2017 generated a tax expense of 138 million euros (see Note 2). The additions of deferred tax assets included tax credits recognized in the amount of 82 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2017 amounting to 78 million euros. In 2017 the additions of deferred tax assets recognized in the amount of 84 million euros were the result of the provisions recognized during the year in relation to the various workforce restructuring plans of the companies included in the tax group in Spain (see Note 15). The disposals of deferred tax assets in 2017 also included the impact of the Group’s labor force reduction plans in Spain, amounting to 192 million euros. Furthermore, in compliance with the sixteenth transitional provision of this amended Royal Decree-Law, which requires the inclusion of one-fifth of the investment portfolio impairment losses which had been deductible in the tax base before January 1, 2013, the Group reclassified 229 million euros of deferred tax liabilities in order to recognize a higher tax payable to the Spanish tax authorities, corresponding to one-fifth of the tax losses affected by this law. The companies in the Spanish tax group recognized on disposals deferred tax assets totaling 134 million euros in 2017, as a result of the limit placed on deductible financial expenses. The movements relating deferred tax recognized directly in equity in 2017 amounted to 24 million euros of additions and 96 million euros of disposals. Main changes registered in 2016 Among other changes, the amendment to the Spanish Corporate Income Tax Law by Royal Decree-Law (RDL) 3/2016, of 2 December, limited the use of tax loss carryforwards to 25% . As a result of the testing on the recoverability of deferred tax assets, carried out by the Group under the new legislative framework, it derecognized deferred tax assets relating to tax loss carryforwards amounting to 866 million euros. Furthermore, in compliance with the sixteenth transitional provision of this amended Royal Decree-Law, which requires the inclusion of one-fifth of the investment portfolio impairment losses which had been deductible in the tax base before January 1, 2013, the Group reclassified 237 million euros of deferred tax liabilities in order to recognize a higher tax payable to the Spanish tax authorities, corresponding to one-fifth of the tax losses affected by this law. Likewise, as a result of the testing on the recoverability mentioned before, the Group capitalized tax deductions in the companies of the tax group in Spain amounting to 755 million euros, which had yet to be recognized at December 31, 2015. In 2016 the additions of deferred tax assets recognized in the amount of 334 million euros were the result of the provisions recognized during the year in relation to the various workforce restructuring plans of the companies included in the tax group in Spain (see Note 15). The companies in the Spanish tax group recognized on disposals deferred tax assets totaling 134 million euros in 2016, as a result of the limit placed on deductible financial expenses. The disposals of deferred tax assets in 2016 also included the impact of the Group’s labor force reduction plans in Spain, amounting to 224 million euros. The additions of deferred tax assets included tax credits recognized in the amount of 115 million euros by the German company Group 3G UMTS Holding GmbH. Furthermore, this company applied tax loss carryforwards in 2016 amounting to 89 million euros. As a result of the testing on the recoverability of deferred tax assets in Telefónica Germany GmbH & Co OHG at year-end, this company capitalized tax losses in the amount of 112 million euros, and derecognized temporary differences in deferred tax assets amounting to 201 million euros. The disposals of deferred tax liabilities in 2016 included 112 million euros corresponding to the tax on dividends to foreign beneficiaries in Argentina, repealed during the year. The movements relating deferred tax recognized directly in equity in 2016 amounted to 69 million euros of additions and 64 million euros of disposals. Expected realization of deferred tax assets and liabilities In the majority of cases, realization of the Group’s deferred tax assets and liabilities depends on the future activities carried out by the different companies, on tax regulations in the different countries in which these companies operate, and on the strategic decisions affecting the companies. Under the assumptions made, the estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position at December 31, 2017 is as follows: Millions of euros Total Less than 1 year More than 1 year Deferred tax assets 7,820 922 6,898 Deferred tax liabilities 2,145 (86 ) 2,231 Deferred tax assets Deferred tax assets in the accompanying consolidated statements of financial position include the tax loss carryforwards, unused tax credits recognized and deductible temporary differences recognized at the end of the reporting period. Millions of euros 12/31/2017 12/31/2016 Tax credits for loss carryforwards 2,776 2,513 Unused tax deductions 1,858 1,727 Deferred tax assets for temporary differences 3,186 3,989 Total deferred tax assets 7,820 8,229 Tax credits for loss carryforwards The movements in Tax credits for loss carryforwards in the Telefónica Group in 2017 and 2016 are as follows: Location of the company (Millions of euros) Balance at 12/31/2016 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2017 Spain 1,617 — (114 ) (1 ) (2 ) 1,500 Germany 550 82 (160 ) — — 472 Hispanoamérica 321 675 (53 ) — (144 ) 799 Other countries 25 — (20 ) — — 5 Total tax credits for loss carryforwards 2,513 757 (347 ) (1 ) (146 ) 2,776 Location of the company (Millions of euros) Balance at 12/31/2015 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2016 Spain 2,520 2 (866 ) — (39 ) 1,617 Germany 413 226 (89 ) — — 550 Hispanoamérica 192 157 — — (28 ) 321 Other countries 24 6 (2 ) — (3 ) 25 Total tax credits for loss carryforwards 3,149 391 (957 ) — (70 ) 2,513 The Spanish tax group had unused tax loss carryforwards at December 31, 2017 amounting to 11,132 million euros: Million of euros Total Less than 1 year More than 1 year Tax loss carryforwards generated in the tax group 8,077 237 7,840 Tax loss carryforwards generated before consolidation in the tax group 3,055 — 3,055 In 2016, after the amendment to the Spanish Corporate Income Tax Law by Royal Decree-Law 3/2016, of December 2, that limits the use of tax loss carryforwards to 25% and as a result of the testing on the recoverability of deferred tax assets, carried out by the Group under the new legislative framework, deferred tax assets relating to tax loss carryforwards were derecognized, amounting to 866 million euros. In 2017, as a result of the testing on the recoverability of deferred tax assets, carried out by the Group under the new legislative framework, it has derecognized deferred tax assets relating to tax loss carryforwards amounting to 98 million euros. Total tax credits for loss carryforwards in Spain in the statement of financial position at December 31, 2017 amounted to 1,500 million euros ( 1,617 million euros at December 31, 2016). Total unrecognized tax credits of the Spanish tax group amounted to 1,283 million euros at December 31, 2017. These tax credits do not expire. The Group companies in Germany have recognized 472 million euros of tax credits for loss carryforwards at December 31, 2017. Total unrecognized tax credits for loss carryforwards of these companies amount to 6,500 million euros. These tax credits do not expire. Recognized tax credits in the consolidated statement of financial arising from the Latin American subsidiaries at December 31, 2017 amounted to 799 million euros. Total unrecognized tax credits for tax loss carryforwards in Latin America amount to 165 million euros. Deductions The Group has recognized 1,858 million euros corresponding to the total amount of unused tax deductions at December 31, 2017, of the tax group in Spain, generated primarily from export activity, R+D+i, double taxation and donations to non-profit organizations. In 2017 and 2016 , tax credits from deductions were recognized, in the amount of 71 and 755 million euros, respectively. Temporary differences The sources of deferred tax assets and liabilities from temporary differences recognized at December 31, 2017 and 2016 are as follows: Millions of euros 12/31/2017 12/31/2016 Goodwill and intangible assets 1,044 1,347 Property, plant and equipment 1,139 1,243 Personnel commitments 1,562 1,665 Provisions 1,079 1,134 Investments in subsidiaries, associates and other shareholdings 4 — Inventories and receivables 301 356 Other 746 1,154 Total deferred tax assets for temporary differences 5,875 6,899 Deferred tax assets and liabilities offset (2,689 ) (2,910 ) Total deferred tax assets for temporary differences registered in the statement of financial position 3,186 3,989 Millions of euros 12/31/2017 12/31/2016 Goodwill and intangible assets 2,192 2,308 Property, plant and equipment 1,168 1,190 Personnel commitments 35 34 Provisions 42 31 Investments in subsidiaries, associates and other shareholdings 1,015 1,299 Inventories and receivables 53 85 Other 329 358 Total deferred tax liabilities for temporary differences 4,834 5,305 Deferred tax assets and liabilities offset (2,689 ) (2,910 ) Total deferred tax liabilities for temporary differences registered in the statement of financial position 2,145 2,395 Deferred tax assets and liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority. The heading "Other” includes, among others, the difference between the accounting and tax values created by the value of financial derivatives at year end (see Note 16). Tax payables and receivables Current tax payables and receivables at December 31, 2017 and 2016 are as follows: Millions of euros Balance at 12/31/2017 Balance at 12/31/2016 Taxes payable Tax withholdings 154 81 Indirect taxes 1,030 1,086 Social security 151 157 Current income taxes payable 580 486 Other 426 522 Total 2,341 2,332 Millions of euros Balance at 12/31/2017 Balance at 12/31/2016 Tax receivables Indirect tax 618 790 Current income taxes receivable 618 601 Other 139 142 Total 1,375 1,533 Reconciliation of book profit before taxes to taxable income The reconciliation between book profit before tax and the income tax expense from continuing operations for 2017 , 2016 and 2015 is as follows: Millions of euros 2017 2016 2015 Accounting profit before tax 4,597 3,245 906 Tax expense at prevailing statutory rate 1,310 897 209 Permanent differences (186 ) (42 ) 177 Changes in deferred tax charge due to changes in tax rates 19 1 (8 ) (Capitalization)/reversal of tax deduction and tax relief (79 ) (762 ) 453 (Capitalization)/reversal of loss carryforwards (123 ) 714 (1,200 ) (Increase)/decrease in tax expense arising from temporary differences 157 (8 ) 72 Other 121 46 452 Income tax expense 1,219 846 155 Breakdown of current/deferred tax expense Current tax expense 968 1,012 1,753 Deferred tax expense / (benefit) 251 (166 ) (1,598 ) Total income tax expense 1,219 846 155 “Other” in 2015 includes the impacts of the inspections in the tax group in Spain and the provision recognized in Telefónica del Perú. Tax deductibility of financial goodwill in Spain The tax regulations added a new article 12.5 to its Corporate Income Tax Law, which came into force on January 1, 2002. The article regulated the deductibility of tax amortization of financial goodwill arising from the acquisition of non-Spanish companies, which could be amortized over 20 years at 5% per annum. Following the entry into force of the Laws 9/2011 of August 19, 2011 and 16/2013 of October 29, 2013, the amount of goodwill amortization deductible for tax purposes under article 12.5 for the years 2011 to 2015 was reduced from 5% to 1% . The effect is temporary because the 4% not amortized during five years ( 20% in total) will be recovered extending the deduction period from the initial 20 years to 25 years. The Telefónica Group, under this regulation, has been amortizing for tax purposes the financial goodwill from its investments, both direct and indirect, in O2, BellSouth and Coltel (prior to December 21, 2007) and Vivo (acquired in 2010). The positive accumulated effect in the corresponding settlements of corporate income tax from 2004 to the closing of December 31, 2017, was 1,226 million euros. In relation to this tax incentive, the European Commission (EC) has in recent years commenced three proceedings against the Spanish State as it deems that this tax benefit could constitute an example of state aid. Although the EC itself acknowledged the validity of its first two decisions for those investors that invested in European companies (for operations carried out before December 21, 2007 in the first decision, and before May 21, 2011 for investments in other countries in the second decision), in its third decision from October 15, 2014 it calls into question the applicability of the principle of legitimate expectations in the application of the incentive for indirect acquisitions, whatever the date of acquisition may have been. As of the date of these consolidated financial statements, the three decisions continue subject to a final ruling. The first two were annulled by two judgments of the General Court of the European Union, which were appealed by the EC before the Court of Justice of the European Union and sent again to the General Court by the Judgment dated December 21, 2016, to reassess the tax incentive. The third decision is still pending a judgment at first instance. Furthermore, there are doubts in the Spanish courts regarding the classification of the incentive as a deduction and if this deduction would remain in the case of a subsequent transfer of the relevant stake. The Group has continued provisioning the amount of the goodwill amortized for tax purposes, corresponding mainly to the purchase of Vivo, for a total of 215 million euros at December 31, 2017 ( 147 million euros at December 31, 2016). Inspections of the tax group in Spain In 2012, tax inspections for all taxes for the years 2005 to 2007 were completed, with the Company signing off a corporate income tax assessment of 135 million euros, which was paid in 2012, whilst disputing other adjustments with which it disagreed. Although the settlement agreement for the disputed tax assessment did not give rise to any tax payment, since the adjustments proposed were offset by unused tax loss carryforwards, the Company filed an appeal with the Central Economic-Administrative Court against these adjustments in May 2015, regarding the tax treatment of the “juros sobre el capital propio” (interest on own capital) as dividends. In July 2015 tax inspections for all taxes for the years 2008 to 2011 were completed, with the Company signing off certain corporate income tax assessments and disputing others. This resulted in 2015 in an expense amounting to 206 million euros. However, this did not require any tax payment, as the adjustments arising from the inspection were offset by unused tax loss carryforwards, at the corresponding tax rate for each period. Although the settlement agreement for the disputed tax assessment did not give rise to any tax payment, in July 2015 the Company filed an appeal with the Central Economic-Administrative Court against the adjustments it disputes, regarding the tax treatment of the “juros sobre el capital propio” (interest on own capital) as dividends, and the criteria to use tax loss carryforwards in the years subject to settlement. In June 2017 the Company received an order of the Audiencia Nacional extending the effects of its ruling from February 27, 2014 from another tax payer to the individual legal status of Telefónica, in connection with the “Juros sobre el capital propio” (interest on own capital). As a consequence of the aforementioned, the Audiencia Nacional has voided the corporate income tax assesment for the years 2005 to 2007 and 2008 to 2011 related to “Juros sobre el capital propio” settled by the tax authorities. With respect to the use of tax loss carryforwards in the years subject to settlement during the inspection 2008 to 2011, still under litigation, in November 2017 the Company brought a judicial appeal to the Audiencia Nacional, against the alleged dismissal of the claim in the absence of a reply from the authorities. At 2017 year end, it is not expected that there is any need to recognize additional liabilities for the outcome of this litigation. Tax litigation in Telefónica Brazil State taxes The Telefónica Group is involved in a range of tax litigation in Brazil over direct and indirect taxes (including those relating to GVT). This includes a number of appeals relating to ICMS tax (a tax similar to VAT, levied on telecommunications services). There is a dispute with the Brazilian tax authorities over which services should be subject to settlement of this tax. To date the most significant issues have focused on the requirement to collect ICMS on penalties charged to customers for non-compliance, Internet advertising services, and complementary or additional services to the basic telecommunications services such as value-added services, modem rental, and the application of this tax on the basic fee ( assinatura básica ). In the case of the latter (assinatura básica), there is a pending case before the Supreme Court including Oi, which could affect other companies of the telecommunications sector. All related procedures are being contested in all instances (administrative and court proceedings). The aggregate amount of the relevant proceedings, updated to take into account interest, fines and other items, is approximately 18,968 million Brazilian reais (approximately 4,781 million euros, see Note 15). Telefónica Brazil has obtained independent expert reports supporting its position, i.e. that the aforesaid services are not subject to ICMS. Federal taxes Regading the income tax (federal tax) the tax authorities proposed adjustments in relation to the tax amortization in 2011 and 2012 of the goodwill generated by Telefónica Brasil's acquisition and merger with Vivo. The tax inspections were conducted in 2016 and 2017 and the accumulated amount at December 31, 2017 is 4,744 million Brazilian reais (approximately 1,196 million euros). This proceedings are at the administrative stage and no provisions have been made since the potential risk associated to them has been classified as "not probable" and Telefónica Brazil has received independent expert reports that support this view. Tax litigation in Telefónica del Perú With regard to tax matters in Peru, litigation continues over corporate income tax for 2000 and 2001, payments on account in respect of the year 2000, recoverable balances for 1998 and 1999, and the interest and penalties that should apply to these. In August 2015, the court of second instance handed down a ruling partially upholding the position of Telefónica del Perú, ruling in its favor on three of the five objections filed by the tax authorities and appealed against to the courts, relating, inter alia, to corporate income tax for 2000-2001 (among others). This dispute accounts for more than 75% of the total amount under litigation, with the objections relating to insolvency provisions, interest on borrowing and leases of space for public telephones. Both the tax authorities and the company have filed appeals against the decision in higher courts. The settlements carried out by SUNAT for 2000 and 2001 are in the final stage of the legal process (under review by the Supreme Court) and a ruling has not yet been released in 2017. In connection with these proceedings in Peru, the Group and its legal advisors consider that the Group’s position continues to be based on robust legal arguments. In parallel to the aforementioned court proceedings, the tax authorities proceeded to collect corporate income tax due for the years 2000-2001 and payments on account of corporate income tax in respect of the year 2000. There were successive reductions to the sums claimed in the two cases following appeals filed by Telefónica del Perú against the settlements and due to the precautionary measures imposed. The company paid out 286 million Peruvian soles (approximately, 80 million euros) in 2012 and 2013 pending the final rulings. In the context of these execution processes, in June 2015 the tax authorities issued Compliance Resolutions demanding payment of 1,521 million Peruvian soles (approximately 431 million euros). An appeal was filed against this with the Tax Court, and the adoption of precautionary suspension measures duly requested from the legal authorities (as a definitive court ruling on these cases is currently pending). No ruling was made in relation to these appeals in 2017, whilst in January 2018 the Tax Court suspended payment until the final ruling of the Supreme Court. Given the sentences and rulings handed down in June and August 2015, the Group decided to recognize a provision in the 2015 consolidated financial statements, that at December 31, 2017 amounted to 1,653 million Peruvian soles (approximately 425 million euros , see Note 15). Years open for inspection in the Group companies The years open for review by the tax inspection authorities for the main applicable taxes vary from one consolidated company to another, based on each country’s tax legislation, taking into account their respective statute-of-limitations periods. In Spain, following the tax audit completed in 2015, the taxes from 2012 onwards are open to inspection with respect to the main companies of the Spanish tax group. In the other countries in which the Telefónica Group has a significant presence, the years open for inspection by the relevant authorities are generally as follows: • The last thirteen years in Germany. • The last nine years in United Kingdom. • The last seven years in Argentina. • The last six years in Ecuador. • The last five years in Brazil, Mexico, Uruguay, Colombia and the Netherlands. • The last four years in Venezuela, Peru, Guatemala, Nicaragua and Costa Rica. • The last three years in Chile, El Salvador, the United States and Panama. The tax inspection of the open years is not expected to give rise to additional material liabilities for the Group. |
Revenue and Expenses
Revenue and Expenses | 12 Months Ended |
Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |
Revenues and Expenses | Revenue and expenses Revenues The breakdown of “Revenues” is as follows: Millions of euros 2017 2016 2015 Rendering of services 47,175 47,321 49,681 Net sales 4,833 4,715 5,235 Total 52,008 52,036 54,916 Other income The breakdown of “Other income” is as follows: Millions of euros 2017 2016 2015 Own work capitalized 863 867 946 Gain on disposal of companies 3 228 18 Gain on disposal of other assets 176 130 298 Government grants 23 28 33 Other operating income 424 510 716 Total 1,489 1,763 2,011 “Gain on disposal of companies” in 2016 includes the gain on disposal of Telefónica Media Argentina, S.A. and Atlántida Comunicaciones, S.A., holding companies of the Group’s stake in Televisión Federal, S.A. (Telefé), amounting to 199 million euros. “Gain on disposal of other assets” includes gains from the sale of telephone towers of 7 million euros, 1 million euros and 65 million euros in 2017 , 2016 and 2015 , respectively. In 2015 it is also included the result of a spectrum swap with AT&T carried out by Telefónica Móviles México, amounting to 79 million euros. “Other operating income” in 2015 included the registered result from the difference between the preliminary purchase price of E-Plus estimated at the end of the valuation period and the final price agreed with KPN, which amounted to 104 million euros. In 2015 it is also included an income resulting from the expiration of an account payable in Telefónica Brazil, amounting to 98 million euros. Other expenses The breakdown of “Other expenses” is as follows: Millions of euros 2017 2016 2015 Leases 1,069 1,076 1,163 Advertising 1,211 1,256 1,367 Other external services 10,445 10,436 11,586 Taxes other than income tax 1,285 1,136 1,232 Change in trade provisions 863 799 831 Losses on disposal of fixed assets and changes in provisions for fixed assets 44 71 39 Goodwill impairment (Note 7) — 215 104 Other operating expenses 509 352 480 Total 15,426 15,341 16,802 “Other external services” in 2015 included a 325 million euros expense in relation with the Telefónica, S.A.’s irrevocable commitment to pay a 325 million euros donation to Fundación Telefónica to provide this entity with the financing required to implement the social programs and activities it currently performs or could initiate in the short and medium term to fulfill its purpose as a foundation. Estimated payment schedule The estimated payment schedule in millions of euros for the next few years on operating leases and purchase and other contractual commitments (non-cancellable without penalty cost) are as follows: 12/31/2017 Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Telefónica Brazil 3,451 514 1,001 718 1,218 Telefónica Germany 2,340 520 660 453 707 Telefónica Hispanoamérica 1,793 376 582 409 426 Telefónica Spain 621 104 201 164 152 Telefónica United Kingdom 464 139 135 79 111 Others 430 86 144 89 111 Operating lease obligations (1) 9,099 1,739 2,723 1,912 2,725 Purchase and other contractual obligations (2) 11,373 5,326 2,957 1,421 1,669 (1) This item includes definitive payments (non-cancellable without penalty cost). Our operating lease obligations have in some cases extension options conditioned on the applicable law of each country. Accordingly, we have included only those amounts that represent the initial contract period. (2) This item includes definitive payments (non-cancellable without penalty cost) due for agreements to purchase goods (such as network equipment) and services. At December 31, 2017 , the present value of future payments for Telefónica Group operating leases was 7,344 million euros ( 2,239 million euros in Telefónica Brazil, 2,258 million euros in Telefónica Germany, 1,408 million euros in Telefónica Hispanoamérica, 604 million euros in Telefónica Spain, 432 million euros in Telefónica United Kingdom and 403 million euros in other companies classified as “Others” on the table above). The main finance lease transactions are described in Note 22. Headcount The table below presents the breakdown of the Telefónica Group’s average number of employees by segment (see Note 4) in 2017 , 2016 and 2015 , together with total headcount at December 31 each year. 2017 2016 2015 Average Year-end Average Year-end Average Year-end Telefónica Spain 28,084 27,291 30,214 28,772 31,354 32,171 Telefónica United Kingdom 6,776 6,687 7,454 7,075 7,677 7,616 Telefónica Germany 8,653 8,535 8,341 8,517 9,941 8,557 Telefónica Brazil 33,991 34,125 34,247 33,782 28,488 33,847 Telefónica Hispanoamérica 38,043 37,539 38,889 38,901 38,232 37,951 Other companies 9,824 8,541 12,975 10,276 17,877 17,364 Total 125,371 122,718 132,120 127,323 133,569 137,506 The Group consolidates GVT and DTS from May 2015 (see Note 5). The number of employees of GVT and DTS at that date was 18,179 and 1,818 , respectively. Of the final headcount at December 31, 2017 , approximately 37.7% are women ( 37.6% at December 31, 2016 ). At December 31, 2017 , the number of employees with disabilities is 842 ( 239 in Spain). Depreciation and amortization The breakdown of “Depreciation and amortization” on the consolidated income statement is as follows: Millions of euros 2017 2016 2015 Depreciation of property, plant and equipment (Note 8) 5,953 5,951 6,071 Amortization of intangible assets (Note 6) 3,443 3,698 3,633 Total 9,396 9,649 9,704 Earnings per share Basic earnings per share amounts are calculated by dividing (a) the profit for the year attributable to equity holders of the parent, adjusted for the net coupon corresponding to the undated deeply subordinated securities and for the interest cost accrued in the period in relation to the debt component of the mandatorily convertible notes of the parent company (which matured on September 25, 2017, see note 12) by (b) the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued upon the conversion of the said mandatorily convertible notes from the date of their issuance. Diluted earnings per share amounts are calculated by dividing the net profit for the year attributable to ordinary equity holders of the parent, adjusted as described above, by the weighted average number of ordinary shares adjusted as described in the preceding paragraph, plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data: Millions of euros 2017 2016 2015 Profit attributable to ordinary equity holders of the parent from continuing operations 3,132 2,369 616 Adjustment for the net coupon corresponding to undated deeply subordinated securities (277 ) (257 ) (250 ) Adjustment for the financial expense of the debt component of the mandatorily convertible notes 1 1 2 Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations 2,856 2,113 368 Thousands Number of shares 2017 2016 2015 Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share 5,110,188 4,909,254 4,931,472 Adjustment for mandatorily convertible notes — 151,265 139,116 Adjusted number of shares for basic earnings per share (excluding treasury shares) 5,110,188 5,060,519 5,070,588 Telefónica, S.A. share option plans — 2,716 5,093 Weighted average number of ordinary shares outstanding for diluted earnings per share 5,110,188 5,063,235 5,075,681 For the purposes of calculating the earnings per share (basic and diluted), the weighted average number of shares outstanding is retrospectively adjusted for transactions that have changed the number of shares outstanding without a corresponding change in equity, as if such transactions had occurred at the beginning of the earliest period presented. Such is the case of the bonus share issues carried out to meet the scrip dividends paid in 2015 and 2016 (see Note 12). Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows: Figures in euros 2017 2016 2015 Basic earnings per share 0.56 0.42 0.07 Diluted earnings per share 0.56 0.42 0.07 |
Revenues and Expenses | Revenue and expenses Revenues The breakdown of “Revenues” is as follows: Millions of euros 2017 2016 2015 Rendering of services 47,175 47,321 49,681 Net sales 4,833 4,715 5,235 Total 52,008 52,036 54,916 Other income The breakdown of “Other income” is as follows: Millions of euros 2017 2016 2015 Own work capitalized 863 867 946 Gain on disposal of companies 3 228 18 Gain on disposal of other assets 176 130 298 Government grants 23 28 33 Other operating income 424 510 716 Total 1,489 1,763 2,011 “Gain on disposal of companies” in 2016 includes the gain on disposal of Telefónica Media Argentina, S.A. and Atlántida Comunicaciones, S.A., holding companies of the Group’s stake in Televisión Federal, S.A. (Telefé), amounting to 199 million euros. “Gain on disposal of other assets” includes gains from the sale of telephone towers of 7 million euros, 1 million euros and 65 million euros in 2017 , 2016 and 2015 , respectively. In 2015 it is also included the result of a spectrum swap with AT&T carried out by Telefónica Móviles México, amounting to 79 million euros. “Other operating income” in 2015 included the registered result from the difference between the preliminary purchase price of E-Plus estimated at the end of the valuation period and the final price agreed with KPN, which amounted to 104 million euros. In 2015 it is also included an income resulting from the expiration of an account payable in Telefónica Brazil, amounting to 98 million euros. Other expenses The breakdown of “Other expenses” is as follows: Millions of euros 2017 2016 2015 Leases 1,069 1,076 1,163 Advertising 1,211 1,256 1,367 Other external services 10,445 10,436 11,586 Taxes other than income tax 1,285 1,136 1,232 Change in trade provisions 863 799 831 Losses on disposal of fixed assets and changes in provisions for fixed assets 44 71 39 Goodwill impairment (Note 7) — 215 104 Other operating expenses 509 352 480 Total 15,426 15,341 16,802 “Other external services” in 2015 included a 325 million euros expense in relation with the Telefónica, S.A.’s irrevocable commitment to pay a 325 million euros donation to Fundación Telefónica to provide this entity with the financing required to implement the social programs and activities it currently performs or could initiate in the short and medium term to fulfill its purpose as a foundation. Estimated payment schedule The estimated payment schedule in millions of euros for the next few years on operating leases and purchase and other contractual commitments (non-cancellable without penalty cost) are as follows: 12/31/2017 Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Telefónica Brazil 3,451 514 1,001 718 1,218 Telefónica Germany 2,340 520 660 453 707 Telefónica Hispanoamérica 1,793 376 582 409 426 Telefónica Spain 621 104 201 164 152 Telefónica United Kingdom 464 139 135 79 111 Others 430 86 144 89 111 Operating lease obligations (1) 9,099 1,739 2,723 1,912 2,725 Purchase and other contractual obligations (2) 11,373 5,326 2,957 1,421 1,669 (1) This item includes definitive payments (non-cancellable without penalty cost). Our operating lease obligations have in some cases extension options conditioned on the applicable law of each country. Accordingly, we have included only those amounts that represent the initial contract period. (2) This item includes definitive payments (non-cancellable without penalty cost) due for agreements to purchase goods (such as network equipment) and services. At December 31, 2017 , the present value of future payments for Telefónica Group operating leases was 7,344 million euros ( 2,239 million euros in Telefónica Brazil, 2,258 million euros in Telefónica Germany, 1,408 million euros in Telefónica Hispanoamérica, 604 million euros in Telefónica Spain, 432 million euros in Telefónica United Kingdom and 403 million euros in other companies classified as “Others” on the table above). The main finance lease transactions are described in Note 22. Headcount The table below presents the breakdown of the Telefónica Group’s average number of employees by segment (see Note 4) in 2017 , 2016 and 2015 , together with total headcount at December 31 each year. 2017 2016 2015 Average Year-end Average Year-end Average Year-end Telefónica Spain 28,084 27,291 30,214 28,772 31,354 32,171 Telefónica United Kingdom 6,776 6,687 7,454 7,075 7,677 7,616 Telefónica Germany 8,653 8,535 8,341 8,517 9,941 8,557 Telefónica Brazil 33,991 34,125 34,247 33,782 28,488 33,847 Telefónica Hispanoamérica 38,043 37,539 38,889 38,901 38,232 37,951 Other companies 9,824 8,541 12,975 10,276 17,877 17,364 Total 125,371 122,718 132,120 127,323 133,569 137,506 The Group consolidates GVT and DTS from May 2015 (see Note 5). The number of employees of GVT and DTS at that date was 18,179 and 1,818 , respectively. Of the final headcount at December 31, 2017 , approximately 37.7% are women ( 37.6% at December 31, 2016 ). At December 31, 2017 , the number of employees with disabilities is 842 ( 239 in Spain). Depreciation and amortization The breakdown of “Depreciation and amortization” on the consolidated income statement is as follows: Millions of euros 2017 2016 2015 Depreciation of property, plant and equipment (Note 8) 5,953 5,951 6,071 Amortization of intangible assets (Note 6) 3,443 3,698 3,633 Total 9,396 9,649 9,704 Earnings per share Basic earnings per share amounts are calculated by dividing (a) the profit for the year attributable to equity holders of the parent, adjusted for the net coupon corresponding to the undated deeply subordinated securities and for the interest cost accrued in the period in relation to the debt component of the mandatorily convertible notes of the parent company (which matured on September 25, 2017, see note 12) by (b) the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued upon the conversion of the said mandatorily convertible notes from the date of their issuance. Diluted earnings per share amounts are calculated by dividing the net profit for the year attributable to ordinary equity holders of the parent, adjusted as described above, by the weighted average number of ordinary shares adjusted as described in the preceding paragraph, plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data: Millions of euros 2017 2016 2015 Profit attributable to ordinary equity holders of the parent from continuing operations 3,132 2,369 616 Adjustment for the net coupon corresponding to undated deeply subordinated securities (277 ) (257 ) (250 ) Adjustment for the financial expense of the debt component of the mandatorily convertible notes 1 1 2 Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations 2,856 2,113 368 Thousands Number of shares 2017 2016 2015 Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share 5,110,188 4,909,254 4,931,472 Adjustment for mandatorily convertible notes — 151,265 139,116 Adjusted number of shares for basic earnings per share (excluding treasury shares) 5,110,188 5,060,519 5,070,588 Telefónica, S.A. share option plans — 2,716 5,093 Weighted average number of ordinary shares outstanding for diluted earnings per share 5,110,188 5,063,235 5,075,681 For the purposes of calculating the earnings per share (basic and diluted), the weighted average number of shares outstanding is retrospectively adjusted for transactions that have changed the number of shares outstanding without a corresponding change in equity, as if such transactions had occurred at the beginning of the earliest period presented. Such is the case of the bonus share issues carried out to meet the scrip dividends paid in 2015 and 2016 (see Note 12). Thus, basic and diluted earnings per share attributable to equity holders of the parent are as follows: Figures in euros 2017 2016 2015 Basic earnings per share 0.56 0.42 0.07 Diluted earnings per share 0.56 0.42 0.07 |
Share-Based Payment Plans
Share-Based Payment Plans | 12 Months Ended |
Dec. 31, 2017 | |
Share-Based Payment Arrangements [Abstract] | |
Share-Based Payment Plans | Share-based payment plans The main share-based payment plans in place in the 2015-2017 period are as follows: a) Long-term incentive plan based on Telefónica, S.A. shares: “Performance and Investment Plan 2011-2016” At the General Shareholders’ Meeting held on May 18, 2011, a long-term share-based incentive plan called “Performance and Investment Plan” was approved for Telefónica Group directors and executive officers. Under this plan, a certain number of shares of Telefónica, S.A. were delivered to plan participants selected by the Company who decided to participate on compliance with stated requirements and conditions. The plan lasted five years and was divided into three independent phases. The first phase expired on June 30, 2014. The maximum number of shares assigned to this phase of the plan was 5,545,628 shares assigned on July 1, 2011, with a fair value of 8.28 euros per share. Delivery of shares was not required at the end of the phase according to the general conditions of the plan; therefore, managers did not receive any shares. The second phase expired on June 30, 2015. The maximum number of shares assigned to this phase of the plan was 7,347,282 , assigned on July 1, 2012, with a fair value of 5.87 euros per share. At the end date of this phase, it was determined that 77% of “Total Shareholder Return” (TSR) had been achieved, under the terms and conditions of the plan. Therefore, the eligible Telefónica Group executives received a total of 2,724,699 shares (corresponding to a total of 3,691,582 gross shares, of which 966,883 shares were withheld at the option of the employee prior to distribution). The third and final phase expired on June 30, 2016. The maximum number of shares assigned to this phase of the plan was 7,020,473 shares assigned on July 1, 2013, with a fair value of 6.40 euros per share. Delivery of shares was not required at the end of the phase according to the general conditions of the plan; therefore, managers did not receive any shares. b) Long-term incentive plan based on Telefónica, S.A. shares: “Performance and Investment Plan 2014-2019” The Telefónica, S.A. General Shareholders’ Meeting on May 30, 2014 approved a new instalment of the long-term share-based incentive “Performance and Investment Plan” for certain senior executives and members of the Group’s management team, operational on completion of the first “Performance and Investment Plan”. Like its predecessor, the term of the new plan is a total of five years divided into three phases. The initial and the second share allocations took place on October 1, 2014, and on October 1, 2015, respectively. Regarding the third phase of this 2016-2019 Plan, the Company's Board of Directors, following a favorable report from the Nomination, Compensation and Corporate Governance Committee, resolved not to execute or implement it, after having decided that it was not sufficiently in line with the Telefónica Group's strategic plan, taking into account the circumstances and macroeconomic environment. The first phase expired on September 30, 2017. The maximum number of shares assigned to this phase of the plan was 6,927,953 shares assigned on October 1, 2014, with a fair value of 6.82 euros per share. Delivery of shares was not required at the end of the phase according to the general conditions of the plan; therefore managers did not receive any shares. With regard to the second phase of this plan, the maximum number of shares allocated (including the amount of co-investment) and the number of shares outstanding at December 31, 2017 are set out below: Phase / assignment date No. of shares assigned Outstanding shares at 12/31/2017 Unit fair value End date 2nd phase / October 1, 2015 6,775,445 5,021,426 6.46 September 30, 2018 c) Telefónica, S.A. global share plan: “Global Employee Share Plan III” (2015-2017) The Telefónica, S.A. Ordinary General Shareholders’ Meeting on May 30, 2014 approved a new voluntary plan for incentivized purchases of shares for the employees of the Group. Under this Plan, employees were offered the option to acquire Telefónica, S.A. shares during a twelve month period (the acquisition period), with the company undertaking to deliver a certain number of free shares to participants, subject to certain requirements. Each employee was limited to buying a maximum of 1,800 euros in Telefónica, S.A. shares, subject to a minimum of 300 euros. The employees that remained part of the Telefónica Group and held on to the shares for one year following the acquisition period (the shareholding period), were entitled to receive one free share for each share they acquired and retained throughout the shareholding period. The acquisition period commenced in July 2015 and ended in June 2016. The share holding period ended in August 2017. 27,018 employees on the scheme were rewarded with a total of 3,187,055 Telefónica shares, valued at approximately 33 million euros at the time they were delivered. d) Long-term incentive plan based on Telefónica, S.A. shares: “Talent for the Future Share Plan” (TFSP) At the General Shareholders’ Meeting held on May 30, 2014, a long-term share-based incentive plan called “Talent for the Future Share Plan” was approved for certain Telefónica Group employees. Under this Plan, a certain number of shares of Telefónica, S.A. will be delivered to participants selected by the Company who have opted to take part in the scheme and meet the requirements and conditions stipulated to this end. The term of the plan is five years and it is divided into three phases. The initial and the second share allocations took place on October 1, 2014, and on October 1, 2015, respectively. Regarding the third phase of this 2016-2019 Plan, the Company's Board of Directors, following a favorable report from the Nomination, Compensation and Corporate Governance Committee, resolved not to execute or implement it, after having decided that it was not sufficiently in line with the Telefónica Group's strategic plan, taking into account the circumstances and macroeconomic environment. The first phase expired on September 30, 2017. The maximum number of shares assigned to this phase of the plan was 556,795 shares assigned on October 1, 2014, with a fair value of 6.82 euros per share. Delivery of shares was not required at the end of the phase according to the general conditions of the plan. The maximum number of shares assigned and the number of shares outstanding at December 31, 2017 is as follows: Phase /assignment date No. of shares assigned No. of shares assigned at 12/31/17 Unit fair value End date 2nd phase October 1, 2015 618,000 553,500 6.46 September 30, 2018 |
Cash Flow Analysis
Cash Flow Analysis | 12 Months Ended |
Dec. 31, 2017 | |
Cash Flow Statement [Abstract] | |
Cash Flow Analysis | Cash flow analysis Net cash flow provided by operating activities Net cash flow provided by operating activities amounted to 13,796 million euros in 2017 , an increase of 3.4% on the 13,338 million of 2016 , which itself was a decrease on the figure of 2.0% recognized in 2015 . The detail of net cash flow provided by operating activities is the following: Millions of euros 2017 2016 2015 Var Var Cash received from operations 63,456 63,514 67,582 (0.1 %) (6.0 %) Cash paid from operations (46,929 ) (47,384 ) (50,833 ) (1.0 %) (6.8 %) Cash paid to suppliers (40,508 ) (40,831 ) (43,650 ) (0.8 %) (6.5 %) Cash paid to employees (5,725 ) (5,815 ) (6,462 ) (1.5 %) (10.0 %) Payments related to cancellation of commitments (696 ) (738 ) (721 ) (5.7 %) 2.4 % Net payments of interest and other financial expenses net of dividends received (1,726 ) (2,143 ) (2,445 ) (19.5 %) (12.4 %) Net interest and other financial expenses paid (1,755 ) (2,187 ) (2,490 ) (19.8 %) (12.2 %) Dividends received 29 44 45 (34.1 %) (2.2 %) Taxes paid (1,005 ) (649 ) (689 ) 54.9 % (5.8 %) Net cash flow provided by operating activities 13,796 13,338 13,615 3.4 % (2.0 %) The changes in the main items included in the net cash flow from operating activities are as follows: • Cash received from operations in 2017 is in line with respect to the amount recognized in 2016 ( -0.1% year on year). It is worth highlighting the continuation of the management of current assets through the factoring of collections and the monetization of income from sales financed. Cash received from operations fell 6% in 2016 with respect to the amount recognized in 2015 , mainly due to exchange rate changes. In addition, the Company continued its active working capital management policy, focused on factoring and the advance monetization of revenues from financed sales. • Cash paid from operations in 2017 , was down 1.0% with respect to 2016 , reflecting the continuity of the active management of current liabilities through payment terms agreements with the factoring company where these were discounted. Cash paid from operations in 2016 , was down 6.8% on 2015, principally as a result of changes in the exchange rate and due to the active management of current liabilities through improvements in the processes and agreements to extend payment terms with suppliers, or factoring companies when payments are discounted (Note 13). • Net payments of interest and other financial expenses net of dividends received in 2017 amounts to 1,726 million euros, decreasing 19.5% with respect to 2016 mainly due to the lower cost of debt in European and Latin America currencie s . Net payments of interest and other financial expenses net of dividends received in 2016 , fell by 12.4% compared with 2015 , largely due to the lower cost of debt in European currencies. • Taxes paid increase 356 million euros in 2017 with respect to 2016 mainly due to the absence of tax refunds in Spain and higher payment in Argentina in 2017 . Taxes paid fell 5.8% in 2016 compared to the payments made in 2015 , mainly due to the lower payments in advance in Argentina and Brazil, and the exchange rate effect, offset by lower tax refunds and higher payments in advance in Spain. Net cash flow used in investing activities Net cash flow used in investing activities amounted to 10,245 million euros in 2017 , an increase of 24.8% with respect to 2016 ( 8,208 million euros), a figure which represented a decrease of 36.5% on that of 2015 ( 12,917 million euros). In respect of the main items included in the net cash flow used in investing activities, the detail is the following: • (Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net in 2017 , decreased by 2.1% compared to 2016 . The detail is the following: Millions of euros 2017 2016 2015 Var Var Proceeds from the sale in property, plant and equipment and intangible assets 148 134 254 10.4 % (47.2 %) Payments on investments in property, plant and equipment and intangible assets (9,140 ) (9,321 ) (10,510 ) (2.0 %) (11.3 %) (Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net (8,992 ) (9,187 ) (10,256 ) (2.1 %) (10.4 %) Payments on investments in property, plant and equipment and intangible assets fell by 2.0% in 2017 compared to a year earlier. Spectrum license payments totaled 352 million euros in 2017, notably in Group companies in Colombia, related to the arbitration award amounting to 317 million euros (see Note 2). Payments on investments in property, plant and equipment and intangible assets fell by 11.3% in 2016 compared to a year earlier, mainly due to lower payments in Telefónica Germany, which itself was due to the significant impact of spectrum licenses in 2015. Spectrum license payments totaled 349 million euros in 2016 , notably in Group companies in Peru and Brazil. • The detail of proceeds on disposals of companies, net of cash and cash equivalents disposed and payments on investments in companies, net of cash and cash equivalents acquired is the following: Millions of euros 2017 2016 2015 Sale of Televisión Federal, S.A. (Telefé) (see Note 18) — 306 — Proceeds arising from hedges associated with Telefónica United Kingdom — 399 — Sale of Yourfone GmbH — — 57 Sale of Telefónica Czech Republic — — 313 Sale of Telefónica Telecomunicaciones Públicas, S.A.U. 28 2 — Others 12 60 (16 ) Proceeds on disposals of companies, net of cash and cash equivalents disposed 40 767 354 A cquisition of DTS (see Note 5) — (36 ) (697 ) Acquisition of GVT (see Note 5) — — (2,450 ) Acquisition of Coltel affiliates (Note 5) (85 ) — — Acquisition of Minodes GmbH (9 ) — — Acquisition of Co-trade GmbH (20 ) — — Others (14 ) (18 ) (34 ) Payments on investments in companies, net of cash and cash equivalents acquired (128 ) (54 ) (3,181 ) • The detail of proceeds on financial investments not included under cash equivalents and payments on financial investments not included under cash equivalents is the following: Millions of euros 2017 2016 2015 Sale of stake in Indra — 85 — Sale of stake in China Unicom (Hong Kong) Limited (see Note 13) 72 322 — Sale of stake in Telecom Italia, S.p.A. — — 1,025 Investments of Seguros de Vida y Pensiones Antares, S.A. 49 — — Others 175 82 117 Proceeds on financial investments not included under cash equivalents 296 489 1,142 Legal deposits (75 ) (104 ) (86 ) Investment in Mediaset Premium — (20 ) (100 ) Payment to shareholders of Telco, S.p.A. — — (60 ) Long term deposits (150 ) — — Collateral guarantees on derivatives (709 ) — — Others (172 ) (141 ) (180 ) Payments on financial investments not included under cash equivalents (1,106 ) (265 ) (426 ) • Payments and proceeds on placements of cash surpluses not included under cash equivalents in 2017 and 2016 largely relate to placements made by Telefónica, S.A. Net cash flow used in financing activities Net cash flow used in financing activities amounted as net payment to 1,752 million euros, a decrease of 58.5% with respect to 2016 . In 2016 , the negative cash flow used in financing activities amounted to 4,220 million increasing by 16.8% year-on-year, mainly due to the increase of financed operating payments in property, plant and equipment and intangible assets payments and the proceeds from the share capital increase of Telefónica S.A. and Telefônica Brasil, S.A. • The detail of dividends paid, proceeds from issue of share capital increase, payments and proceeds of treasury shares and other operations with shareholder and minority interest, and operations with other equity holders is the following: Millions of euros 2017 2016 2015 Dividends paid byTelefónica, S.A. (*) (1,904 ) (2,395 ) (2,237 ) Payments to non-controlling interests of Telefônica Brasil, S.A. (290 ) (216 ) (239 ) Payments to non-controlling interests of Telefónica Deutschland Holding, A.G. (229 ) (263 ) (267 ) Payments to non-controlling interests of Telefónica Centroamérica Inversiones (23 ) (27 ) (28 ) Others (13 ) (5 ) (4 ) Dividends paid (see Note 12) (2,459 ) (2,906 ) (2,775 ) Share capital increase of Telefónica, S.A. — — 3,048 Share capital increase of Telefônica Brasil, S.A. — — 1,258 Others 2 — (51 ) Proceeds from share capital increase 2 — 4,255 Transactions with Telefónica, S.A. treasury shares (see Note 12 g) — (645 ) (1,615 ) Transactions with Telefónica Deutschland Holding, A.G. treasury shares — — (133 ) Transactions with Telefônica Brasil, S.A. treasury shares — — (24 ) Sale of 40% of Telxius Telecom, S.A. to Taurus 1,275 — — Others (6 ) (15 ) — (Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests 1,269 (660 ) (1,772 ) Issuance of undated deeply subordinated securities (Note 12) 1,000 1,000 419 Payment of the coupon related to the issuances of undated deeply subordinated securities issued (See Note 12) (354 ) (344 ) (336 ) Operations with other equity holders 646 656 83 (*) This amount differs from that indicated in Note 12 because of withholding taxes deducted in the payment to certain major shareholders. • The detail of proceeds on issue of debentures and bonds, and other debts, proceeds on loans, borrowings and promissory notes, amortization of debentures and bonds, and other debts, repayments of loans, borrowings and promissory notes and financed operating payments and investments in property, plant and equipment and intangible assets payments is the following: Millions of euros 2017 2016 2015 Issued under the EMTN program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) 3,517 4,900 1,467 Issued of non-dilutive convertible debentures in Telefónica Participaciones, S.A.U. (Appendix III) — 600 — Issued under the SHELF program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) 3,335 — — Issuance of Telefônica Brazil, S.A. 756 — — Others 782 193 135 Proceeds on issue of debentures and bonds, and other debts 8,390 5,693 1,602 Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — 3,070 — Syndicated loan of 2,500 million euros by Telefónica, S.A. — — 2,060 Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — 1,280 1,890 Issuance of debt instruments in the local market by Telefónica Germany GmbH&Co OHG — — 300 Structured financing (see Note 13) 750 — — Syndicated loan of 750 million euros by Telefónica Germany (see Note 13) 650 — — Others 3,444 5,982 4,534 Proceeds on loans, borrowings and promissory notes (see Appendix V) 4,844 10,332 8,784 Repayments of debentures and bonds, and other debts (6,687 ) (6,873 ) (3,805 ) Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — (3,070 ) — Syndicated loan of 2,500 million euros by Telefónica, S.A. (550 ) — (1,560 ) Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — (1,980 ) (1,190 ) Loans paid by GVT — (93 ) (1,766 ) Syndicated loan of 750 million euros by Telefónica Germany GmbH (see Note 13) (700 ) — — Others (5,461 ) (3,363 ) (5,342 ) Repayments of loans, borrowings and promissory notes (see Appendix V) (6,711 ) (8,506 ) (9,858 ) Financed spectrum licences payments (Note 14) (329 ) (198 ) (121 ) Payments to suppliers with extended payment terms (Note 13) (717 ) (1,758 ) (5 ) Financed operating payments and investments in property, plant and equipment and intangible assets payments (see Note 13.2) (1,046 ) (1,956 ) (126 ) (*) Data converted at the exchange rate at the end of December 2017. The impact of the exchange rate with respect to the date of the transaction is included in the "Others" line within the same sub-heading. |
Other Information
Other Information | 12 Months Ended |
Dec. 31, 2017 | |
Additional information [abstract] | |
Other Information | Other information a) Litigation and arbitration Telefónica and its group companies are party to several legal proceedings which are currently in progress in the courts of law and the arbitration bodies of the various countries in which we are present. Based on the advice of our legal counsel it is reasonable to assume that these legal proceedings will not materially affect the financial condition or solvency of the Telefónica Group. The contingencies arising from the litigation and commitments described below were evaluated (see Note 3.m) when the consolidated financial statements for the year ended December 31, 2017 were prepared. The provisions recorded in respect of the commitments taken as a whole are not material. The following unresolved legal proceedings or those underway in 2017 are highlighted (see Note 17 for details of tax-related cases): Appeal against the decision by Agencia Nacional de Telecomunicações (“ANATEL”) regarding the inclusion of interconnection and network usage revenues in the Fundo de Universalização de Serviços de Telecomunicações (“FUST”) Vivo Group operators (currently Telefônica de Brasil), together with other cellular operators, appealed ANATEL’s decision of December 16, 2005, to include interconnection and network usage revenues and expenses in the calculation of the amounts payable into the FUST (Fundo de Universalização de Serviços de Telecomunicações) –a fund which pays for the obligations to provide Universal Service- with retroactive application from 2000. On March 13, 2006, Regional Federal Court no. 1. granted a precautionary measure which stopped the application of ANATEL’s decision. On March 6, 2007, a ruling in favor of the wireless operators was issued, stating that it was not appropriate to include the revenues received by transfer from other operators in the taxable income for the FUST’s calculation and rejecting the retroactive application of ANATEL’s decision. On January 26, 2016, ANATEL filed an appeal to overturn this decision with Brasilia Regional Federal Court no. 1, which was also dismissed. On May 10, 2017 ANATEL appealed to the higher courts on the merits of the case. At the same time, Telefônica Brasil and Telefónica Empresas, S.A., together with other wireline operators through ABRAFIX (Associação Brasileira de Concessionárias de Serviço Telefonico Fixo Comutado) appealed ANATEL’s decision of December 16, 2005, also obtaining the precautionary measures requested. On June 21, 2007, Federal Regional Court no. 1 ruled that it was not appropriate to include the interconnection and network usage revenues in the FUST’s taxable income and rejected the retroactive application of ANATEL’s decision. ANATEL filed an appeal to overturn this ruling on April 29, 2008, before Brasilia Federal Regional Court no. 1, which was dismissed on May 10, 2016. ANATEL filed an appeal against this dismissal. The fixed operators filed an appeal to clarify that revenues obtained through interconnection and dedicated line operation should not be included in the calculation of the amounts payable to the FUST. In addition, the court was also requested to rule on two grounds which had not been analyzed in the initial decision: (i) that the FUST has become obsolete, among other reasons, by the advance of mobile telephony; and (ii) that amounts collected are not applied to the purpose for which the FUST was created, since only a very low percentage of the revenues collected by the FUST is used to finance fixed telephony. Although the petition for clarification was dismissed on August 23, 2016, the court noted that the FUST should not be funded with revenues from interconnection and dedicated line operation. ABRAFIX appealed to the higher courts on these two elements that had not been analyzed. ANATEL appealed all the holdings of the ruling to the higher courts. The amount of the claim is quantified at 1% of the interconnection revenues. Public civil procedure by the São Paulo government against Telefônica Brasil for alleged reiterated malfunctioning in services provided This proceeding was filed by the Public Ministry of the State of São Paulo for alleged reiterated malfunctioning in the services provided by Telefônica Brasil, seeking compensation for damages to the customers affected. A general claim was filed by the Public Ministry of the State of São Paulo, for 1,000 million Brazilian reais (approximately 225 million euros), calculated on the company’s revenue base over the last five years. In April 2010, a ruling against the Telefónica Group was issued in first instance. The full impact of this proceeding will not be known until there is a final ruling, and the total amount of persons affected by and party to the proceeding is known. At that moment, the amount of the indemnity will be established, ranging between 1,000 million and 60 million reais (approximately, between 225 and 13 million euros), depending on the number of parties. On May 5, 2010, Telefônica Brasil filed an appeal before the São Paulo Court of Justice, suspending the effect of the ruling. On April 13, 2015, the appeal was judged in favor of Telefónica, by unanimous vote, reversing the earlier decision in the first instance. The Public Prosecutor filed an extraordinary petition for review at the High Court of Brasilia which, on March 15, 2017, refused to consider the petition due to the lack of legal requirements. Given that the Public Prosecutor did not appeal that refusal, the proceeding concluded in favour of Telefônica Brasil. Appeal against the Decision of the EC dated January 23, 2013, to sanction Telefónica for the infringement of Article 101 of the Treaty on the functioning of the European Union On January 19, 2011, the EC initiated formal proceedings to investigate whether Telefónica, S.A. (Telefónica) and Portugal Telecom SGPS, S.A. (Portugal Telecom) had infringed European Union anti-trust laws with respect to a clause contained in the sale and purchase agreement of Portugal Telecom’s ownership interest in Brasilcel, N.V., a joint venture in which both were venturers and which was the owner of the Brazilian company Vivo. On January 23, 2013, the EC passed a ruling on the formal proceedings. The ruling imposed a fine on Telefónica of 67 million euros, as the EC ruled that Telefónica and Portugal Telecom committed an infraction of Article 101 of the Treaty on the Functioning of the European Union for having entered into the agreement set forth in Clause Nine of the sale and purchase agreement of Portugal Telecom’s ownership interest of Brasilcel, N.V. On April 9, 2013, Telefónica filed an appeal for annulment of this ruling with the European Union General Court. On August 6, 2013, the European Union General Court notified Telefónica of the response issued by the EC, in which the EC reaffirmed the main arguments of its ruling and, specially, that Clause Nine includes a competition restriction. On September 30, 2013, Telefónica filed its reply. On December 18, 2013, the EC filed its appeal. A hearing was held on May 19, 2015, at the European Union General Court. On June 28, 2016, the European Union General Court ruled. Although it declares the existence of an infringement of competition law, it annuls Article 2 of the contested Decision and requires the EC to reassess the amount of the fine imposed. The General Court considers that the EC has not neutralized the allegations and evidences provided by Telefónica on services in which there was not potential competition or were outside the scope of Clause Nine. Telefónica understands that there are grounds for believing that the ruling does not suit at law; consequently, it filed an appeal to the Court of Justice of the European Union, on September 11, 2016. On November 23, 2016, the EC filed its response against the Telefónica´s appeal. On January 30, 2017, Telefónica filed its response. On March 9, 2017, the European Commission filed its rejoinder. On December 13, 2017, the General Court dismissed the appeal filed by Telefónica. In the coming months the European Commission must issue a new resolution in accordance with the judgment of the General Court of June 2016, which urged the Commission to recalculate the amount of the fine. Claim of consumers association "FACUA" against Telefónica de España in connection with the increase of the price of Movistar Fusión On September 5, 2016, notification was given to Telefónica de España of a claim filed against it by the consumers association (" FACUA "). Through such claim, the association exercises an action to protect consumers' and users' collective interests stipulated in articles 11 of the Civil Procedure Act ( Ley de Enjuiciamiento Civil ) and 24.1 of the Consumer and Users Protection Act ( Ley General de Defensa de los Consumidores y Usuarios ) on the basis of alleged disloyalty towards the consumers, arising from the raising of the prices of the product "Movistar Fusión" from May 5, 2015, by an amount of 5 euros per month.The claim contains a declaratory statement stating that disloyalty arises from misleading advertising regarding the price rise, and a prohibitory injunction requesting that Telefónica de España be ordered not to apply such price rise and to prohibit its future application to all customers who became customers of Movistar Fusión prior to May 5, 2015. It contains, besides, a third statement, requesting Telefónica de España to be condemned to repay the excess amounts collected as a result of the rise in prices to those customers who have chosen to maintain the service contracted, together with accrued interest on such amount. The claim was filed for an undetermined amount, given the impossibility of determining a priori the total amount of the claim. On October 28, 2016, Telefónica de España filed its response. On April 5, 2017, the Court ruled in favour of Telefónica de España, upholding the objection of unsuitable action and ordering the dismissal of the action. FACUA appealed that ruling. Decision by the High Court regarding the acquisition by Telefónica of shares in Český Telecom by way of tender offer Venten Management Limited (" Venten ") and Lexburg Enterprises Limited (" Lexburg "), were minority shareholders of CESKY TELECOM. In September 2005 both companies sold their shares to Telefónica in a mandatory tender offer. Subsequently Venten and Lexburg, in 2006 and 2009, respectively, filed actions against Telefónica claiming a higher price than the price for which they sold their shares in the mandatory tender offer. On August 5, 2016, the hearing before the High Court in Prague took place in order to decide the appeal against the second decision of the Municipal Court, which had been favourable to Telefónica's position (as was also the case with the first decision of the Municipal Court). At the end of the hearing, the High Court announced the Second Appellate Decision by which it reversed the second decision of the Municipal Court and ordered Telefónica to pay 644 million Czech koruna (approximately 23 million euros) to Venten and 227 million Czech koruna (approximately 8 million euros) to Lexburg, in each case plus interest. On December 28, 2016, the decision was notified to Telefónica. Telefónica has filed an extraordinary appeal, requesting the suspension of the effects of the decision. In March 2017, Telefónica was notified of the decision of the Supreme Court, which ordered the suspension of the effects of the unfavorable decision to Telefónica issued by the High Court. Venten and Lexburg filed with the Supreme Court a motion to partially abolish the suspension of enforceability of the Decision of the High Court in Prague. On January 17, 2018, Telefónica filed its response seeking dismissal of such motion for lack of legal basis. Claim by Entel against Telefónica de Argentina, SA In 1999, Entel (the National Telecommunications Company of Argentina before its privatization) sued Telefónica de Argentina, SA (" TASA "), who was the licensee of the telecom service after the privatization process, seeking detailed and documented accounting and reimbursement of the amounts that it received from and on behalf of Entel after assuming the telecom service as a licensee, and of the amounts deducted as commissions. In general terms, the items in dispute were the amounts that TASA charged on behalf of Entel soon after having taken possession as a licensee of the telecom service (i.e.; the consumptions charges for telecom services from prior customers of Entel, either billed or unbilled, but pending payment at the time of the privatization). Entel also challenged the commissions that TASA discounted to Entel in exchange for the service of collection of fees on behalf of Entel. Additionally, Entel also claimed several credits received by TASA which allegedly belonged to Entel and had not been transferred to TASA in the privatization process. TASA replied arguing the inadmissibility of the accountability request, since such liquidations had previously been submitted to the Entel Liquidating Commission without being timely challenged. In 2010, the Court of First Instance ruled in favor of Entel and held TASA accountable to Entel. After exhausting all legal appeals available, TASA submitted the requested accounting to Entel, which was challenged by the national government on behalf of the liquidated Entel. Several accounting drafts and cross-claims between the parties followed, with the intervention of a court-appointed expert accountant. After several court decisions, the intervening judge rejected TASA´s objections to the accounting presented by the national government and adopted the calculations made by Entel and the court-appointed expert. Although this judicial decision was appealed, TASA´s appeal was dismissed by the Court of Appeals in October 2017, confirming, to a large extent, the accounting of Entel and the court-appointed expert, but also ordering Entel to recalculate interests, which has not been made yet. Specifically, the resolution of the Court accepted certain concepts that TASA had questioned and the application of a "judicial" interest rate (average passive rate), which implies a daily capitalization component, in detriment of the rate set forth in the privatization specifications which set a simple annual interest of 8% (which had even been used by the court-appointed expert and Entel in their calculations). Although Entel has not yet submitted the new interest calculations required by the judge as of the date of this Annual Report, the approximate total amount of the claim considering its prior requests is estimated at 1,744 million Argentine pesos ( 71 million euros). The resolution of the Court of Appeals exhausted the ordinary remedies available. TASA filed an extraordinary appeal, which was rejected in November 2017. TASA has submitted an exceptional appeal before the Argentine Supreme Court, although this appeal does not suspend the potential execution by Entel of prior rulings against TASA. b) Other Proceedings Telefónica is currently conducting internal investigations covering various countries regarding possible violations of applicable anti-corruption laws. Telefónica has been in contact with governmental authorities about these matters and intends to cooperate with those authorities as the investigations continue. It is not possible at this time to predict the scope or duration of these matters or their likely outcome. c) Commitments Agreement related to the Sale of Customer Relationship Management (“CRM”) Business, Atento As a result of the sale agreement of Atento by Telefónica, announced on October 12, 2012, and ratified on December 12, 2012, both companies signed a Master Service Agreement which regulates Atento’s relationship with the Telefónica Group as a service provider for a period of nine years and which was amended on May 16, 2014, and on November 8, 2016. This period was extended only for Spain and Brazil in November 2016, for two additional years until 2023. By virtue of this Agreement, Atento became Telefónica’s preferred Contact Center and Customer Relationship Management (“ CRM ”) service provider, stipulating annual commitments in terms of turnover which is updated based on inflation and deflation that vary from country to country, pursuant to the volume of services Atento has been providing to the entire Group. Effective January 1, 2017, the minimum volume commitments that Telefónica must comply with have significantly decreased from Brazil. Failure to meet the annual turnover commitments generally results in the obligation to the counterparty, to pay additional amounts, which would be calculated based on the difference between the actual amount of turnover and the predetermined commitment, applying a percentage based on the Contact Center’s business margin to the final calculation. The Master Agreement sets forth a reciprocal arrangement, whereby Atento assumes similar commitments to subscribe its telecommunications services to Telefónica. Telefónica Latinoamérica Holding, S.L. as strategic partner of Colombia Telecomunicaciones, S.A. ESP Pursuant to amendment nº 2 of the Framework Investment Agreement executed as of September 21, 2017, after the closing of the merger between Colombia Telecomunicaciones, S.A. ESP and Telefónica Móviles Colombia, S.A., the Colombian Government may, at any time, offer to Telefónica all or part of the shares it holds in the company, the latter being obliged to acquire them, (directly or via one of its subsidiaries) in the event that the increase in Colombia Telecomunicaciones, S.A. ESP's EBITDA (CAGR) is less than 5.75% in the measurement periods, and provided that during the twelve (12) months following the ordinary shareholders’ meetings during which the measurement was made, at least one of the following occurs: 1) Colombia Telecomunicaciones S.A. ESP has paid a brand fee or any other type of payment to the Strategic Partner for the use of its brands; or 2) Colombia Telecomunicaciones S.A. ESP orders and/or pays dividends with the favorable vote of the Strategic Partner. From January 1, 2013, the Colombian Government can require Telefónica to vote in favor of the register of the shares of Colombia Telecomunicaciones, S.A. ESP in the National Securities and Issuer’s Registry and in the Colombia Stock Exchange. In addition, (a) if Telefónica decides to dispose or transfer of all or part of its shareholding in Colombia Telecomunicaciones, S.A. ESP to third parties, Telefónica commits that: (i) the acquirer or transferee will be obliged to adhere to the Framework Investment Agreement; and (ii) that the acquirer or transferee will be obliged to present an offer to purchase all of the shares in Colombia Telecomunicaciones, S.A. ESP held by the Colombian Government (that amounts to 32.5% of the share capital) at the same price and under the same terms and conditions negotiated with Telefónica, through the legally-established procedure for disposal of shares held by public entities and, (b) if the Colombian Government transfer its shares in Colombia Telecomunicaciones, S.A. ESP under certain circumstances, the Strategic Partner shall subscribe with the acquirer of the shares a new shareholders agreement which will have to be then negotiated by the parties and which, as the case may be, will include some of the rights currently held by the Colombian Government under the Framework Investment Agreement currently in force. Communications Investment Platform ("CIP") On May 8, 2015, Telefónica Open Future, S.L.U. (“ TOF ”) signed a Limited Partnership Agreement (and related agreements) with Coral Group, L.L.C. (and affiliates thereof) (" Coral ") pursuant thereto, TOF has committed to undertake investments up to 200 million U.S. dollar over a 7 year period (expandable up to two additional years) in technology companies that fall within the strategic priorities jointly agreed with Telefónica. As a result of the addition of an additional Strategic Investor to the CIP in 2017, on October 25, 2017, TOF and Coral entered into a new Amended and Restated Limited Partnership Agreement, which retains TOF’s original capital commitment, but also amends certain terms and conditions to provide TOF with certain early termination and capital commitment reduction rights upon certain events. Agreement for the sale of the shares of Telefónica Gestión de Servicios Compartidos España, S.A.U., Telefónica Gestión de Servicios Compartidos Argentina, S.A. and T-Gestiona Servicios Contables y Capital Humano, S.A.C. On March 1, 2016, a share purchase agreement between, on one hand, Telefónica, S.A., Telefónica Servicios Globales, S.L.U. and Telefónica Gestión de Servicios Compartidos Perú, S.A.C. (as sellers), and, on the other hand, IBM Global Services España, S.A., IBM del Perú, S.A.C., IBM Canada Limited and IBM Americas Holding, LLC (as purchasers) for the sale of the companies Telefónica Gestión de Servicios Compartidos España, S.A.U., Telefónica Gestión de Servicios Compartidos Argentina, S.A. and Tgestiona Servicios Contables y Capital Humano, S.A.C., for a total price of approximately 22 million euros, was ratified before Notary Public. This share purchase agreement was subscribed on December 31, 2015. Following the aforementioned share purchase agreement and in connection with the latter transaction, also, on December 31, 2015, Telefónica subscribed a master services agreement with IBM for the outsourcing of economic-financial and HR activities and functions to be provided to the Telefónica Group during a period of ten years, for a total amount of approximately 450 million euros. Most of the Telefónica Group’s subsidiary companies have already adhered to that master services agreement. d) Environmental matters Telefónica has a global Environmental Strategy that arises from the Environmental Policy and Energy Policy approved by the Board of Directors which sets out the road map for the Company to advance towards a green economy, reducing the environmental impact of its facilities at the same time as developing the potential for digital services to reduce the environmental footprint of other sectors. Currently 90% of the Company has Environmental Management Systems (EMS) in accordance with Regulation ISO 14001, certified by an external body, which contribute to the proper management of its environmental aspects and to extending a culture of environmental responsibility across the whole supply chain. Telefónica has set itself the target of certifying 100% of operators under ISO 14001. The greatest environmental impact is in the network due to energy consumption, but also with physical elements, such as visual impact or waste. For responsible network deployment and maintenance, Telefónica has common standards (rules, regulations and policies) for all our companies that go beyond existing legislation in force and comprise the principle of precaution and establish the minimum environmental management guidelines with a view to minimizing the impact of infrastructures, e.g., in the context of air pollution, waste and noise. We also extend compliance to these standards to our vendors (suppliers and providers) and contractors. Turning to water consumption, we foster initiatives for more efficient usage, particularly in regions with an elevated water stress. e) Auditors’ fees Group's main auditor The expenses accrued in 2017 in respect of the fees for services rendered to the various member firms of the PwC international organization, of which PricewaterhouseCoopers Auditores, S.L. (the auditors of the Telefónica Group) forms part, amounted to 19.78 million euros . The expenses accrued in 2016 in respect of the fees for services rendered to the various member firms of the EY international organization, of which Ernst & Young, S.L. (the auditors of the Telefónica Group) forms part, amounted to 26.47 million euros . The detail of these amounts is as follows: Millions of euros 2017 2016 Audit services 18.33 23.37 Audit-related services 0.49 3.10 Tax services 0.20 0.00 All other services (consulting, advisory, etc.) 0.76 0.00 Total 19.78 26.47 Audit services: mainly audit services of the annual and reviews of interim financial statements, services related to the issuance of comfort letters, work to comply with the requirements of the Sarbanes-Oxley Act (Section 404) and the work in connection with the 20-F report to file with the US Securities and Exchange Commission (SEC). Audit-related services: services related to the review of the information required by regulatory authorities, agreed financial reporting procedures not requested by legal or regulatory bodies and the review of corporate responsibility reports. Tax Services: permitted services by the applicable independence regulation, basically, they are tax advice and studies of transference prices. All other services: permitted services by the applicable independence regulation, mainly advisory services on migration questions to expatriates employees. In particular, the auditor of the Telefónica Group, PricewaterhouseCoopers Auditores, SL, during the year 2017 has provided services related to the issuance of the following reports: audit of the financial statements (includes SOX and 20-F), limited reviews of the intermediate periods, comfort letters, agreed procedures and corporate social responsibility. Other auditors The expenses accrued in respect of the fees for services rendered by other auditors in 2017 and 2016 amounted to 40.50 million euros and 34.85 million euros, respectively, as follows: Millions of euros 2017 2016 Audit services 2.80 0.94 Audit-related services 0.48 2.69 Tax services 5.75 8.56 All other services (consulting, advisory, etc.) 31.47 22.66 Total 40.50 34.85 f) Trade and other guarantees The Company is required to issue trade guarantees and deposits for concession and spectrum tender bids (see Note 16) and in the ordinary course of its business. No significant additional liabilities in the accompanying consolidated financial statements are expected to arise from guarantees and deposits issued. g) Directors’ and Senior Executives’ compensation and other benefits Directors’ and Senior Executives’ compensation The compensation of the members of Telefónica’s Board of Directors is governed by article 35 of the Company’s By-Laws, which provides that the annual amount of the compensation to be paid thereby to all of the Directors in their capacity as such, i.e., as members of the Board of Directors and for the performance of the duty of supervision and collective decision-making inherent in such body, shall be fixed by the shareholders at the General Shareholders' Meeting. The Board of Directors shall determine the exact amount to be paid within such limit and the distribution thereof among the Directors, taking into account the duties and responsibilities assigned to each Director, their membership on Committees within the Board of Directors and other objective circumstances that it deems relevant. Furthermore, Executive Directors shall receive such compensation as the Board determines for the performance of executive duties delegated or entrusted to them by the Board of Directors. Such compensation shall conform to the Director compensation policy approved by the shareholders at the General Shareholders’ Meeting. In accordance with the foregoing, the shareholders acting at the Ordinary General Shareholders’ Meeting held on April 11, 2003 set at 6 million euros the maximum amount of annual gross compensation to be received by the Board of Directors as a fixed allotment and as attendance fees for attending the meetings of the Advisory or Control Committees of the Board of Directors. Thus, as regards fiscal year 2017 , the total amount of compensation received by the Directors of Telefónica, in their capacity as such, was 3,277,934 euros for the fixed allocation and for attendance fees. The compensation of the Directors of Telefónica in their capacity as members of the Board of Directors, of the Executive Commission and/or of the Advisory or Control Committees consists of a fixed amount payable monthly and of attendance fees for attending the meetings of the Advisory or Control Committees. Set forth below are the amounts established in fiscal year 2017 as fixed amounts for belonging to the Board of Directors, the Executive Commission and the Advisory or Control Committees of Telefónica and the attendance fees for attending meetings of the Advisory or Control Committees of the Board of Directors: Compensation of the Board of Directors and of the Committees thereof Amounts in euros Position Board of Directors Executive Commission Advisory or Control Committees (*) Chairman 240,000 80,000 22,400 Vice chairman 200,000 80,000 — Executive Member — — — Proprietary Member 120,000 80,000 11,200 Independent Member 120,000 80,000 11,200 Other external 120,000 80,000 11,200 (*) In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros. In this regard, it is noted that the current Executive Chairman, Mr. José María Álvarez-Pallete López, has waived the receipt of the above amounts (i.e., 240,000 euros as Chairman of the Board of Directors and 80,000 euros as Chairman of the Executive Commission). Likewise, the fixed remuneration of 1,923,100 euros that the Executive Chairman, Mr. José María Álvarez-Pallete López, has established for the 2018 financial year is equal to the one received in the years 2017 and 2016, which was set in his capacity as Chief Executive Officer, remaining invariably after his appointment as Chairman. This compensation is a 13.8% lower to the compensation established for the position of Executive Chairman prior to his appointment as such. Individualized description Annex II provides an individual breakdown by item of the compensation and benefits that the members of the Board of Directors and of the Senior Management of the Company have received from Telefónica, S.A. and from other companies of the Telefónica Group during fiscal year 2017 . Likewise, the compensation and benefits received, during such year, by the members of the Company's Senior Management are broken down. |
Finance Leases
Finance Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases1 [Abstract] | |
Finance Leases | Finance leases The main finance leases at the Telefónica Group are as follows: a) Finance lease agreement at Colombia Telecomunicaciones, S.A. ESP The Group, through its subsidiary Colombia Telecomunicaciones, S.A., ESP (Coltel), had a finance lease agreement with Patrimonio Autónomo Receptor de Activos de la Empresa Nacional de Telecomunicaciones (PARAPAT), the consortium which owned the telecommunications assets and managed the pension funds for the entities which were predecessors to Coltel, which included the transfer of these assets and rights to Coltel. On August 29, 2017, the Shareholders’ Meeting of Coltel approved a capital increase used to pre-pay the entire amount of Coltel´s debt with PARAPAT with the consequent transfer of the legal ownership of the assets of the operating agreement. Telefónica disbursed the corresponding amount pro rata to its shareholding in ColTel and the Colombian Government assumed 32.5% of ColTel's payment obligations with the PARAPAT (see Note 2). The present value of the payment obligations with the PARAPAT at the date of termination of the contract amounted to 4,290,992 Colombian pesos ( 1,236 million euros). The present value of the payment obligations with the PARAPAT at December 31, 2016 amounted to 1,275 million euros, as follows: Millions of euros Present value Revaluation Pending payment Within one year 152 9 161 From one to five years 517 207 724 More than five years 606 951 1,557 Total 1,275 1,167 2,442 b) Future minimum lease payment commitments in relation to finance leases at Telefónica Brasil companies The payment schedule of finance leases of Telefónica Brasil at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 13 2 15 From one to five years 37 14 51 More than five years 48 85 133 Total 98 101 199 At December 31, 2017 there are net assets under finance lease agreements amounting to 71 million euros recognized under property, plant and equipment. Additionally, Telefónica Brasil acts as a lessor in financial leases related to those described above. The minimum lease payment receivables at December 31, 2017 are scheduled as follows: Millions of euros Present value Revaluation Pending receivables Within one year 58 — 58 From one to five years 43 8 51 Total 101 8 109 Accumulated allowance (39 ) Total after accumulated allowance 62 c) Future minimum lease payment commitments in relation to finance leases at Telefónica de España, S.A.U. The payment schedule of finance leases of Telefónica de España, S.A.U. at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 79 3 82 From one to five years 32 1 33 Total 111 4 115 Additionally, Telefónica de España, S.A.U. acts as a lessor in financial leases related to those described above. The minimum lease payment receivables at December 31, 2017 are scheduled as follows: Millions of euros Present value Revaluation Pending receivables Within one year 71 — 71 From one to five years 47 — 47 Total 118 — 118 d) Future minimum lease payment commitments in relation to finance leases at Telefónica Germany companies The payment schedule of finance leases of Telefónica Germany at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 18 1 19 From one to five years 15 — 15 Total 33 1 34 At December 31, 2017 there are net assets under finance lease agreements amounting to 124 million euros recognized under property, plant and equipment. Additionally, Telefónica Germany acts as a lessor in financial leases related to those described above. The minimum lease payment receivables at December 31, 2017 are scheduled as follows: Millions of euros Present value Revaluation Pending receivables Within one year 8 — 8 Total 8 — 8 Accumulated allowance (2 ) Total after accumulated allowance 6 |
Events After the Reporting Peri
Events After the Reporting Period | 12 Months Ended |
Dec. 31, 2017 | |
Events After Reporting Period [Abstract] | |
Events After the Reporting Period | Events after the reporting period The following events regarding the Telefónica Group took place between December 31, 2017 and the date of authorization for issue of the accompanying consolidated financial statements: Financing • On January 11, 2018, Telefónica Deutschland Holding AG launched an issuance of debt instruments in the local market (schuldscheindarlehen and namensschuldverschreibung) for an aggregate amount up to 200 million euros and maturities of up to 15 years . • On January 22, 2018, Telefónica, S.A. drew down 100 million euros of its bilateral loan signed on December 28, 2017 and maturing in 2020. • On January 22, 2018, Telefónica Emisiones S.A.U. issued notes under its EMTN Program filed on June 29, 2017 in an aggregate nominal amount of 1,000 million euros. The notes are due on January 22, 2027, pay an annual coupon of 1.447% and are guaranteed by Telefónica, S.A. • On January 23, 2018, Telefónica, S.A. drew down 385 million euros of its bilateral loan signed on December 20, 2017 and maturing in 2019. • On January 23, 2018, Telefónica Germany GmbH & Co. OHG signed the second extension of its syndicated credit facility dated March 22, 2016, for 750 million euros and new maturity on March 22, 2023. • On January 26, 2018, Telxius Telecom, S.A. drew down 221 million euros and 75 million dollars of its multicurrency syndicated facility signed on December 1, 2017 and maturing in 2022. This syndicated facility includes an option by mutual agreement between the parties to extend the maturity up to 2024. • On January 30, 2018, Telefónica, S.A. drew down 100 million euros of its bilateral loan signed on November 24, 2017 and maturing in 2026. • On February 2, 2018, Telefónica Emisiones, S.A.U. redeemed 750 million sterling pounds of its notes issued on February 2, 2006. The notes were guaranteed by Telefónica, S.A. New organizational structure The Board of Directors of Telefónica, S.A., at its meeting held on January 31, 2018, resolved to adopt a new organizational structure in order to make the Company more agile, simple and focused on management, customer service, growth, efficiency and profitability. The main changes are detailed below: • the areas of General Counsel, and Public Affairs and Regulation, up until now led by Mr. Ramiro Sánchez de Lerín and Mr. Carlos López Blanco respectively, is unified and headed by Mr. Pablo de Carvajal. • Mr. Emilio Gayo will replace Mr. Luis Miguel Gilpérez as Executive Chairman of Telefónica España and member of the Executive Committee of Telefónica, S.A. • Telefónica Hispanoamérica, until now headed by Mr. Eduardo Caride (also a member of the Executive Committee), is split into two new units in order to more effectively manage the different market situations: Telefónica Hispam Sur unit is created (encompassing operations in Argentina, Chile, Peru and Uruguay), which is led by Mr. Bernardo Quinn (until now Director of Global Human Resources), and Telefónica Hispam Norte unit is created (encompassing the operations in Colombia, México, Central America, Ecuador and Venezuela), which is led by Mr. Alfonso Gómez Palacio. • the area of People (Human Resources) is enhanced and will report directly to the Executive Chairman. This area will be led by Ms. Marta Machicot, who will join the Executive Committee. |
Appendix I_ Scope of Consolidat
Appendix I: Scope of Consolidation | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Consolidations [Abstract] | |
Appendix I: Scope of Consolidation | Appendix I: Scope of consolidation The main Companies of the Telefónica Group The table below lists the main companies comprising the Telefónica Group at December 31, 2017 and the main investments consolidated using the equity method. Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telefónica Group’s effective shareholding and the company or companies through which the Group holds a stake. Parent Company Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Spain Telefónica de España, S.A.U. Spain EUR 1,024 100 % Telefónica, S.A. Telefónica Móviles España, S.A.U. Spain EUR 209 100 % Telefónica, S.A. Acens Technologies, S.L. Spain EUR 23 100 % Telefónica de España, S.A.U. Teleinformática y Comunicaciones, S.A.U. (Telyco) Spain EUR 8 100 % Telefónica de España, S.A.U. Telefónica Soluciones de Informática y Com. de España S.A.U. Spain EUR 2 100 % Telefónica de España, S.A.U. Telefónica Soluciones de Outsourcing, S.A. Spain EUR 1 100 % Telefónica Soluc. De Informática y Com. de España, S.A.U Telefónica Servicios Integrales de Distribución S.A.U. Spain EUR 2 100 % Telefónica de España, S.A.U. DTS Distribuidora de Televisión Digital, S.A. Spain EUR 80 100 % Telefónica de España, S.A.U. Telefónica Servicios Audiovisuales, S.A.U. Spain EUR 6 100 % Telefónica de Contenidos, S.A.U. Telefónica Broadcast Services, S.L.U. Spain EUR — 100 % Telefónica Servicios Audiovisuales, S.A.U. Telefónica United Kingdom Telefónica Europe plc UK GBP 9 100 % Telefónica, S.A. (99.99%) MmO2 plc UK GBP 20 100 % O2 Secretaries Ltd. (0.01%) O2 Holdings Ltd UK GBP 12 100 % Telefónica Europe plc Telefónica United Kingdom Ltd. UK GBP 10 100 % O2 Holdings Ltd. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica United Kingdom (cont.) Giffgaff Ltd UK GBP — 100 % Telefónica United Kingdom Ltd. O2 Networks Ltd. UK GBP — 100 % O2 Holdings Ltd. Cornerstone Telecomunications UK GBP — 50 % O2 Networks Ltd. (40%) Telefónica Germany Telefónica Deutschland Holding A.G Germany EUR 2,975 69.22 % Telefónica Germany Holdings Limited Telefónica Germany GmbH & Co. OHG Germany EUR 51 69.22 % Telefónica Deutschland Holding A.G (69.21%) E-Plus Services GmbH Germany EUR 288 69.22 % Telefónica Germany GmbH & Co. OHG Telefónica Germany Next GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG Minodes GmbH Germany EUR — 69.22 % Telefónica Germany Next Gmbh Co-Trade GmbH Germany EUR — 69.22 % Telefónica Germany Retail Gm bh Telefónica Brazil Telefônica Brasil, S.A. Brazil BRL 63,571 73.68 % Telefónica Latinoamérica Holding, S.L. (24.18%) Terra Networks Brasil, S.A. Brazil BRL — 100 % Telefônica Data S.A. Telefónica Hispanoamérica Telefónica de Argentina, S.A. Argentina ARS 1,097 100 % Telefónica Móviles Argentina, S.A. (80.14%) Telefónica Móviles Argentina, S.A. Argentina ARS 278 100 % Telefónica, S.A. (73.20%) Telefónica Venezolana, C.A. Venezuela VEF 2,368,408 100 % Latin America Cellular Holdings, S.L. (97.04%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Hispanoamérica (cont.) Telefónica Móviles Chile, S.A. Chile CLP 1,257,872 100 % Inversiones Telefónica Móviles Holding Limitada (98.87%) Telefónica Chile, S.A. Chile CLP 570,535 99.14 % Telefónica Móviles Chile, S.A. Telefónica del Perú, S.A.A. Peru PEN 2,954 98.57 % Telefónica Latinoamérica Holding, S.L. (50.26%) Colombia Telecomunicaciones, S.A. ESP Colombia COP 3,410 67.50 % Telefónica Latinoamérica Holding, S.L. (51.52%) Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Colombia COP 83,191 63.77 % Colombia Telecomunicaciones, S.A. ESP (35.71%) Metropolitana de Telecomunicaciones S.A E.S.P Colombia COP 50,212 59.03 % Colombia Telecomunicaciones, S.A. ESP (30.89%) Operaciones Tecnológicas y Comerciales S.A.S Colombia COP 2,330 60.93 % Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P (24.37%) Telefónica Móviles México, S.A. de C.V. Mexico MXN 88,834 100 % Telefónica, S.A. Telefónica Móviles del Uruguay, S.A. Uruguay UYU 1,107 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Móviles Panamá, S.A. Panama USD 45 60 % Telefónica Centroamérica Inversiones, S.L. Telefónica Móviles El Salvador, S.A. de C.V. El Salvador USD 42 59.58 % Telefónica Centroamérica Inversiones S.L. (59.46%) Telefónica Móviles Guatemala, S.A. Guatemala GTQ 1,396 60 % Telefónica Centroamérica Inversiones S.L. (0.01%) Telefonía Celular de Nicaragua, S.A. Nicaragua NIO 247 60 % Telefónica Centroamérica Inversiones S.L. (59.99%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Hispanoamérica (cont.) Otecel, S.A. Ecuador USD 183 100 % Telefónica Latinoamérica Holding, S.L. Telefónica de Costa Rica TC, S.A. Costa Rica CRC 203,511 100 % Telefónica, S.A. Terra Networks Perú, S.A. Peru PEN 10 100 % Telefónica Latinoamérica Holding, S.L. Terra Networks México, S.A. de C.V. Mexico MXN 305 100 % Terra Networks Mexico Holding, S.A. de C.V. Terra Networks Argentina, S.A. Argentina ARS 7 100 % Telefónica Latinoamérica Holding, S.L. (99.99%) Other Companies O2 International Holdings Ltd. UK GBP — 100 % O2 (Europe) Ltd. Telefónica Germany Holdings Ltd. UK EUR — 100 % O2 (Europe) Ltd. O2 (Europe) Ltd. UK EUR 1,239 100 % Telefónica, S.A. Telefónica International Holding, B.V Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Latinoamérica Holding, S.L. Spain EUR 237 100 % Telefónica, S.A. Telxius Telecom, S.A. Spain EUR 250 60 % Telefónica, S.A. Telxius Cable América, S.A. Uruguay USD 429 60 % Telxius Telecom, S.A. Telxius Cable España, S.L.U. Spain EUR 5 60 % Telxius Telecom, S.A. Telxius Cable República Dominicana, S.A.S. Republica Dominicana USD — 60 % Telxius Cable América, S.A. (59.40%) Telxius Cable Argentina, S.A. Argentina USD 78 60 % Telxius Cable América, S.A. (59.96%) Telxius Cable Panamá, S.A. Panama USD — 60 % Telxius Cable América, S.A. Telxius Cable Puerto Rico, Inc. Puerto Rico USD 24 60 % Telxius Cable América, S.A. Telxius Cable USA, Inc. US USD 58 60 % Telxius Cable América, S.A. Telxius Cable Ecuador, S.A. Ecuador USD 5 60 % Telxius Cable América, S.A. (59.99%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Telxius Cable Chile, S.A. Chile USD 37 60 % Telxius Cable América, S.A. Telxius Cable Guatemala, S.A. Guatemala USD 16 60 % Telxius Cable América, S.A. Telxius Cable Perú, S.A.C. Peru USD 20 60 % Telxius Cable América, S.A. Telxius Cable Colombia, S.A. Colombia USD 4 60 % Telxius Cable América, S.A. (56.99%) Telxius Cable Brasil Participaçoes, Ltda. Brazil USD 62 60 % Telxius Cable América, S.A. Telxius Cable Brasil, Ltda. Brazil USD 74 60 % Telxius Cable Brasil Partic ipaçoes, Ltda. Telxius Torres Latam, S.L.U. Spain EUR 8 60 % Telxius Telecom, S.A. Telxius Torres España, S.L.U. Spain EUR 10 60 % Telxius Telecom, S.A. Telxius Towers Germany, Gmbh. Germany EUR — 60 % Telxius Telecom, S.A. Telxius Torres Perú S.A.C. Peru PEN 104 60 % Telxius Torres Latam, S.L.U. Telxius Torres Chile Holding, S.A. Chile EUR 8 60 % Telxius Torres Latam, S.L.U. (59.99%) Telxius Torres Chile, S.A. Chile CLP 7,770 60 % Telxius Torres Chile Holding, S.A. Telxius Torres Brasil, Ltda. Brazil BRL 764 60 % Telxius Torres Latam, S.L.U. Telxius Torres Argentina, S.A. Argentina ARS 629 60 % Telxius Torres Latam, S.L.U. (57%) Latin American Cellular Holdings, S.L. Spain EUR — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica International Wholesale Services II, S.L. Spain EUR 231 100 % Telefónica, S.A Telefónica International Wholesale Services México, S.A. Mexico MXN 31 100 % Telefónica International Wholesale Services II, S.L. Telefónica Digital España, S.L. Spain EUR 15 100 % Telefónica, S.A Wayra Investigación y Desarrollo S.L. Spain EUR 2 100 % Telefónica Digital España, S.L. Telefónica Digital Inc. US USD — 100 % Telefónica Digital Ltd Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Wayra Chile Tecnología e Innovación Limitada Chile CLP 28,223 100 % Wayra Investigacion y Desarrollo, S.L. Wayra Brasil Aceleradora de Projetos Ltda. Brazil BRL 39 100 % Wayra Investigación y Desarrollo S.A.U. WY Telecom, S.A. de C.V. Mexico MXN 140 100 % Wayra Investigacion y Desarrollo, S.L. Wayra Argentina, S.A. Argentina ARS 56 100 % Telefónica Móviles Argentina, S.A. Wayra Colombia, S.A.S. Colombia COP 2,400 100 % Wayra Investigacion y Desarrollo, S.L. Proyecto Wayra, C.A. Venezuela VEF 13,805 100 % Telefónica Venezolana, C.A. Wayra Perú Aceleradora de Proyectos, S.A.C. Peru PEN 18 100 % Wayra Investigacion y Desarrollo, S.L. Wayra UK Ltd. t UK GBP — 100 % Wayra Investigación y Desarrollo, S.L. Axonix Ltd UK USD — 78 % Telefónica Digital Ltd Telfisa Global, B.V. Netherlands EUR — 100 % Telefónica, S.A. Telefónica Global Activities Holding, B.V. Netherlands EUR — 100 % Telfisa Global, B.V. Telefónica Global Services, GmbH Germany EUR — 100 % Group 3G UMTS Holding, GmbH Telefónica Global Roaming, GmbH Germany EUR — 100 % Telefónica Global Services, GmbH Group 3G UMTS Holding GmbH Germany EUR 250 100 % Telefónica Global Activities Holdings, B.V Telefónica Compras Electrónicas, S.L. Spain EUR — 100 % Telefónica Global Services, GmbH Telefónica de Contenidos, S.A.U. Spain EUR 226 100 % Telefónica, S.A. Telefónica On The Spot Services, S.A.U. Spain EUR — 100 % Telefónica de Contenidos, S.A.U. Telefónica Educación Digital, S.L. Spain EUR 1 100 % Telefónica Digital España, S.L. Telfin Ireland Ltd. Ireland EUR — 100 % Telefónica, S.A. Telefónica Ingeniería de Seguridad, S.A.U. Spain EUR 12 100 % Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Telefónica Engenharia de Segurança do Brasil Ltda Brazil BRL 131 99.99 % Telefónica Ingeniería de Seguridad, S.A. Telefónica Capital, S.A.U. Spain EUR 7 100 % Telefónica, S.A. Lotca Servicios Integrales, S.L. Spain EUR 17 100 % Telefónica, S.A. Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A Spain EUR 16 70 % Telefónica Capital, S.A. Fonditel Gestión, Soc. Gestora de Instituciones de Inversión Colectiva, S.A. Spain EUR 2 100 % Telefónica Capital, S.A. Telefónica Investigación y Desarrollo, S.A.U. Spain EUR 7 100 % Telefónica, S.A. Media Networks Latin America, S.A.C Peru PEN — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Luxembourg Holding, S.à.r.L. Luxembourg EUR 3 100 % Telefónica, S.A. Casiopea Reaseguradora, S.A. Luxembourg EUR 4 100 % Telefónica Luxembourg Holding, S.à.r.L. Nova Casiopea RE S.A. Luxembourg EUR 15 100 % Telefónica Luxembourg Holding, S.à.r.L. Telefónica Insurance, S.A. Luxembourg EUR 23 100 % Telefónica Luxembourg Holding, S.à.r.L. Seguros de Vida y Pensiones Antares, S.A. Spain EUR 51 100 % Telefónica, S.A. Telefónica Finanzas, S.A.U. Spain EUR 3 100 % Telefónica, S.A. Pléyade Peninsular, Correduría de Seguros y Reaseguros del Grupo Telefónica, S.A. Spain EUR — 100 % Telefónica Finanzas, S.A.U. (TELFISA) (83.33%) Fisatel Mexico, S.A. de C.V. Mexico MXN 3,505 100 % Telefónica, S.A. Telefónica Europe, B.V. Netherlands EUR — 100 % Telefónica, S.A. Telefónica Participaciones, S.A.U. Spain EUR — 100 % Telefónica, S.A. Telefónica Emisiones, S.A.U. Spain EUR — 100 % Telefónica, S.A. Telefónica Global Technology, S.A.U. Spain EUR 16 100 % Telefónica, S.A. Aliança Atlântica Holding B.V. Holding company Netherlands EUR 150 100 % Telefónica, S.A. (50%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Telefónica Transportes e Logística Ltda. Logistics services rendered Brazil BRL — 99.99 % Telefónica Data, S.A. (Brasil) Telefónica Serviços Empresariais do BRASIL, Ltda. Brazil BRL 35 99.99 % Telefónica Servicios Globales, S.L.U. Telefónica Gestión de Servicios Compartidos México, S.A. de C.V. Mexico MXN 50 100 % Telefónica Servicios Globales, S.L.U. Telefónica Gestión Logística, S.A.C Peru PEN 15 100 % Telefónica Servicios Globales, S.L.U. (99.49%) Telefónica Gestión Integral de Edificios y Servicios S.L. Spain EUR — 100 % Telefónica Servicios Globales, S.L.U. Tempotel, Empresa de Trabajo Temporal, S.A. Spain EUR — 100 % Telefónica Servicios Globales, S.L.U. O2 Worldwide Limited UK GBP — 100 % Telefónica, S.A. Synergic Partners, S.L. Spain EUR — 100 % Telefónica Digital España, S.L. Telefónica Innovación Alpha, S.L. Spain EUR — 100 % Telefónica, S.A. Telefónica Chile Holdings, S.L. Chile CLP — 100 % Telefónica, S.A. Telefónica Holding Atticus, B.V. Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Servicios Globales, S.L.U. Spain EUR 1 100 % Telefónica, S.A. Companies accounted for using the equity method Telefónica Factoring España, S.A. Spain EUR 5 50 % Telefónica, S.A. Telefónica Factoring Do Brasil, Ltd. Brazil BRL 5 50 % Telefónica, S.A. (40.00%) Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Mexico MXN 34 50 % Telefónica, S.A. (40.50%) Telefónica Factoring Perú, S.A.C. Peru PEN 6 50 % Telefónica, S.A. (40.50%) Telefónica Factoring Colombia, S.A. Colombia COP 4,000 50 % Telefónica, S.A. (40.50%) Mobile Financial Services Holding SPRL Belgica USD 190 50 % Telefónica Internacional Holding, B.V (26.28%) Telefónica Consumer Finance, Establecimiento Financiero de Crédito, S.A. Spain EUR 5 50 % Telefónica, S.A. Tesco Mobile Ltd. UK GBP — 50 % O2 Communication Ltd. The Smart Steps Data Technology Company China CNY — 45 % Telefónica Digital España, S.L. Main changes in the scope of consolidation for the year 2017 Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Other companies Telxius Torres Argentina, S.A. Argentina 05/31/2017 60 % Acquired companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Germany Minodes GmbH Germany 05/31/2017 69.22 % Co-Trade GmbH Germany 10/31/2017 69.22 % Acquisition of control Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Hispanoamérica Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Colombia 09/30/2017 63.77 % Metropolitana de Telecomunicaciones S.A E.S.P Colombia 09/30/2017 59.03 % Operaciones Tecnológicas y Comerciales S.A.S Colombia 09/30/2017 60.93 % Sold companies Companies/Segment/Subsidiaries Country Date of deconsolidated % Sold Telefónica Hispanoamérica Compañía Señales del Norte, S.A. de C.V Mexico 12/31/2017 100 % Other companies Telefónica Gestión de Servicios Compartidos Perú, S.A.C. Peru 10/31/2017 100 % Merged companies Companies/Segment/Subsidiaries Country Date Surviving company Telefónica Spain Telefónica Telecomunicaciones Públicas, S.A.U. Spain 05/29/2017 Telefónica de España, S.A.U. Tuenti Technologies, S.L. Spain 10/31/2017 Telefónica Móviles España, S.A.U. Iberbanda, S.A. Spain 10/31/2017 Telefónica de España, S.A.U. Telefónica Studios S.L. Spain 09/30/2017 Telefónica Telefónica Germany E-Plus Mobilfunk GmbH &Co. KG, GmbG Germany 07/31/2017 E-Plus Services GmbH Telefónica Hispanoamérica Compañía Internacional de Telecomunicaciones, S.A. Argentina 05/31/2017 Telefónica Móviles Argentina, S.A. Telefónica Móviles Argentina Holding, S.A. Argentina 05/31/2017 Telefónica Móviles Argentina, S.A. Telefónica Móviles Chile, S.A. Chile 05/31/2017 Inversiones Telefónica Móviles Holding, S.A. Other companies Telefónica Datacorp, S.A.U Spain 09/30/2017 Telefónica Latinoamérica Holding, S.L. Eyeos, S.L Spain 09/30/2017 Telefónica Investigación y Desarrollo, S.A.U. Telefónica International Wholesale Services, S.L. Spain 12/31/2017 Telefónica International Wholesale Services II, S.L. Wayra Ireland Ltd Ireland 12/31/2017 Wayra Investigación y Desarrollo S.L Companies liquidation Companies/Segment/Subsidiaries Country Date of deconsolidated % Participation Other companies Saluspot Spain, S.L. Spain 12/31/2017 65 % Operations with minority interests Companies/Segment/Subsidiaries Country Date % Participation after operation Telefónica Germany Telefónica Deutschland Holding A.G Germany 03/31/2017 69.22 % Other companies Telxius Telecom, S.A. Spain 12/31/2017 60 % Main changes in the scope of consolidation for the year 2016 Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Spain Telecomunicaciones Personalizadas, S.L.U Telecommunications service provider Spain 09/30/2016 100 % Other companies Telxius Torres Latam, S.L.U. Any type of infrastructures and/or communications networks institution and operation Spain 04/30/2016 100 % Telxius Torres España, S.L.U. Any type of infrastructures and/or communications networks institution and operation Spain 02/29/2016 100 % Telxius Towers Germany, Gmbh. Any type of infrastructures and/or communications networks institution and operation Germany 02/29/2016 100 % Acquired companies Company/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Spain Nova Casiopea RE S.A. Reinsurance Luxembourg 10/31/2016 100 % Saluspot Spain, S.L. (*) Medical services and articles through internet provider Spain 05/31/2016 65 % (*) In 2016 Healthcommunity, S.L., in which the Group holds a 50% stake and which is consolidated using the equity method, was spun off into two companies: Saluspot Spain, S.L and Salupro Spain, S.L. After completing the spin off process, the Group held 65% of the equity in Saluspot Spain, S.L and transferred its stake to Salupro Spain, S.L. Saluspot Spain, S.L is was included in the scope of consolidation using the full consolidation method. Sold companies Company/Segment/Subsidiaries Country Date of deconsolidated % Sold Telefónica Spain Telecomunicaciones Personalizadas, S.L.U Telecommunications service provider Spain 12/31/2016 100 % Other companies Televisión Federal S.A.- TELEFE Provision and operation TV and radio broadcasting-services Argentina 11/30/2016 100 % Atlántida Comunicaciones, S.A. Participation in public media Argentina 11/30/2016 100 % Telefónica Media Argentina, S.A. Participation in public media Argentina 11/30/2016 100 % Vocem 2013 Teleservicios, S.A. Call center services Venezuela 06/31/2016 100 % Telefónica Gestión de Servicios Compartidos Argentina, S.A. Management and administrative services rendered Argentina 03/31/2016 100 % Telefónica Gestión de Servicios Compartidos España, S.A. Management and administrative services rendered Spain 03/31/2016 100 % Merged companies Company/Segment/Subsidiaries Country Date Surviving company Telefónica Brazil GVT Participaçoes Holding company Brazil 04/01/2016 Telefônica Brasil, S.A. Other companies Telefónica Internacional, S.A.U. Holding Company Spain 10/31/2016 Telefónica Latinoamérica Holding, S.L. |
Appendix II_ Board and Senior M
Appendix II: Board and Senior Management Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Compensation [Abstract] | |
Appendix II: Board and Senior Management Compensation | Appendix II: Board and Senior Management Compensation TELEFÓNICA, S.A. (Amounts in euros) Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. José María Álvarez-Pallete López 1,923,100 — — 3,430,430 — 5,802 5,359,332 Mr. Isidro Fainé Casas — 200,000 — — 80,000 — 280,000 Mr. José María Abril Pérez — 200,000 7,000 — 91,200 — 298,200 Mr. Ángel Vilá Boix 7 697,490 — — — — 7,341 704,831 Ms. Eva Castillo Sanz — 120,000 27,000 — 33,600 — 180,600 Mr. Juan Ignacio Cirac Sasturain — 120,000 9,000 — 11,200 — 140,200 Mr. José Javier Echenique Landiríbar — 120,000 18,000 — 109,867 — 247,867 Mr. Peter Erskine — 120,000 17,000 — 113,600 — 250,600 Ms. Sabina Fluxà Thienemann — 120,000 10,000 — 11,200 — 141,200 Mr. Luiz Fernando Furlán — 120,000 5,000 — 7,467 — 132,467 Ms. Carmen García de Andrés 7 — 78,667 8,000 — 12,009 — 98,676 Mr. Peter Löscher — 120,000 9,000 — 11,200 — 140,200 Mr. Ignacio Moreno Martínez — 120,000 28,000 — 38,267 — 186,267 Mr. Francisco Javier de Paz Mancho — 120,000 34,000 — 124,800 — 278,800 Mr. Francisco José Riberas Mera 7 — 78,667 — — — — 78,667 Mr. Wang Xiaochu — 120,000 — — — — 120,000 1 Salary: Regarding Mr. José María Álvarez-Pallete López, it includes the amount of non-variable payments and that which the Board Member has received for his executive tasks. Regarding Mr. Ángel Vilá Boix, he was appointed Board Member of the Company on July 26, 2017, including from this date the amount of non-variable payments and that which the Board Member has received for his executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Board, regardless of the effective attendance of the Board Member to the Board meetings. 3 Allowance: Total amount of the allowances for attending the meetings of the Advisory or Control Committees. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or the achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017. With regard to the bonus corresponding to 2017, and which will be paid in 2018, Executive Board Member Mr. José María Álvarez-Pallete López will earn 3,426,964 euros and Executive Board Member Mr. Ángel Vilá Boix will earn 990,000 euros (the Bonus of Mr. Vilá only includes the amount accrued since his appointment as Director of the Company, on July 26, 2017). 5 Remuneration for membership to the Board Committees: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Delegated Committee and to the Advisory or Control Committees, regardless of the effective attendance of the Board Member to the Advisory or Control Committee meetings. 6 Other items: Among others, it includes the amounts received in concept of payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by Telefónica, S.A. 7 Ms. Carmen García de Andrés and Mr. Francisco José Riberas Mera were appointed Board Members of the Company on May 4, 2017, and Mr. Ángel Vilá Boix was appointed Board Member on July 26, 2017, reflecting, therefore, the received payment, respectively, from the dates mentioned. Likewise, Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. César Alierta Izuel — 213,556 — — — 169 213,725 Mr. Gonzalo Hinojosa Fernández de Angulo — 41,333 4,000 — 46,845 — 92,178 Mr. Pablo Isla Álvarez de Tejera — 41,333 — — 3,858 — 45,191 Mr. Julio Linares López — 116,667 11,000 — 19,600 — 147,267 Mr. Antonio Massanell Lavilla — 120,000 30,000 — 56,000 — 206,000 1 Salary: Includes the amount of non-variable payments and that which the Board Member has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Board, regardless of the effective attendance of the Board Member to the Board meetings. 3 Allowance: Total amount of the allowances for attending the meetings of the Advisory or Control Committees. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017. 5 Remuneration for membership to the Board Committees: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Delegated Committee and to the Advisory or Control Committees, regardless of the effective attendance of the Board Member to the Advisory or Control Committee meetings. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental coverage), fulfilled by Telefónica, S.A. Likewise, specifying the figures included in the previous box, the payment received by the Board Members of Telefónica for their membership to the different Advisory or Control Committees during 2017 is specifically detailed below, including both fixed allocation and attendance allowances. ADVISORY OR CONTROL COMMITTEES OF TELEFÓNICA, S.A. (Amounts in euros) Directors Audit and Control Nominating, Compensation and Corporate Governance Service Quality and Customer Service Strategy and Innovation Regulation and Institutional Affairs TOTAL 2017 Mr. José María Álvarez-Pallete López — — — — — — Mr. Isidro Fainé Casas — — — — — — Mr. José María Abril Pérez — — — 18,200 — 18,200 Mr. Ángel Vilá Boix — — — — — — Ms. Eva Castillo Sanz — — 17,200 22,200 21,200 60,600 Mr. Juan Ignacio Cirac Sasturain — — — 20,200 — 20,200 Mr. José Javier Echenique Landiríbar 34,400 13,467 — — — 47,867 Mr. Peter Erskine — 19,200 — 31,400 — 50,600 Ms. Sabina Fluxà Thienemann — 21,200 — — — 21,200 Mr. Luiz Fernando Furlán — 12,467 — — — 12,467 Ms. Carmen García de Andrés 13,342 — 6,667 — — 20,009 Mr. Peter Löscher — — — 20,200 — 20,200 Mr. Ignacio Moreno Martínez 22,200 — 17,200 — 26,867 66,267 Mr. Francisco Javier de Paz Mancho 23,200 33,400 — — 22,200 78,800 Mr. Francisco José Riberas Mera — — — — — — Mr. Wang Xiaochu — — — — — — Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Audit and Control Nominating, Compensation and Corporate Governance Service Quality and Customer Service Strategy and Innovation Regulation and Institutional TOTAL 2017 Mr. César Alierta Izuel — — — — — — Mr. Gonzalo Hinojosa Fernández de Angulo 4,858 5,858 3,858 3,858 4,858 23,290 Mr. Pablo Isla Álvarez de Tejera — 3,858 — — — 3,858 Mr. Julio Linares López — — 9,533 — 21,067 30,600 Mr. Antonio Massanell Lavilla 23,200 — 28,400 15,200 19,200 86,000 The following table breaks down the amounts received from other companies of the Telefónica Group other than Telefónica, S.A. individually, by the Board Members of the Company, by the performance of executive duties or by their membership to the Board of Directors of said companies: OTHER COMPANIES OF THE TELEFÓNICA GROUP (Amounts in euros) Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. José María Álvarez-Pallete López — — — — — — — Mr. Isidro Fainé Casas — — — — — — — Mr. José María Abril Pérez — — — — — — — Mr. Ángel Vilá Boix — — — — — — — Ms. Eva Castillo Sanz — 80,000 — — — — 80,000 Mr. Juan Ignacio Cirac Sasturain — — — — — — — Mr. José Javier Echenique Landiríbar — — — — — — — Mr. Peter Erskine — 12,403 — — — — 12,403 Ms. Sabina Fluxà Thienemann — — — — — — — Mr. Luiz Fernando Furlán — 98,418 — — — — 98,418 Ms Carmen García de Andrés — — — — — — — Mr. Peter Löscher — — — — — — — Mr. Ignacio Moreno Martínez — — — — — — — Mr. Francisco Javier de Paz Mancho — 285,464 — — — — 285,464 Mr. Francisco José Riberas Mera — — — — — — — Mr. Wang Xiaochu — — — — — — — 1 Salary: Amount of non-variable payments and that which the Board Member of other companies of the Telefónica Group has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the board of directors of other Companies of the Telefónica Group. It is hereby clarified that Mr. Eva Castillo Sanz has accrued an amount of 80,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. Likewise, Mr. Peter Erskine has accrued an amount of 20,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. Likewise, Mr. Ángel Vilá Boix has accrued an amount of 2,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. On the drawing date of this document, none of the amounts mentioned have been paid, which is why they have not been consigned in the box (that only includes amounts received in 2017). 3 Allowance: Total amount of the allowances for attending the board of director meetings of other Companies of the Telefónica Group. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017, by other companies of the Telefónica Group. 5 Remuneration for membership to the Board Committees of other companies of the Telefónica Group: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and accrued by the Board Member for their membership to the board of directors committees of other Companies of the Telefónica Group. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by other companies of the Telefónica Group. Likewise, Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. César Alierta Izuel — — — — — — — Mr. Gonzalo Hinojosa Fernández de Angulo — 9,125 — — — — 9,125 Mr. Pablo Isla Álvarez de Tejera — — — — — — — Mr. Julio Linares López — — — — — — — Mr. Antonio Massanell Lavilla — — — — — — — 1 Salary: Amount of non-variable payments and that which the Board Member of other companies of the Telefónica Group has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the board of directors of other Companies of the Telefónica Group. 3 Allowance: Total amount of the allowances for attending the board of director meetings of other Companies of the Telefónica Group. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017, by other companies of the Telefónica Group. 5 Remuneration for membership to the Board Committees of other companies of the Telefónica Group: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and accrued by the Board Member for their membership to the board of directors committees of other Companies of the Telefónica Group. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by other companies of the Telefónica Group. Additionally, as mentioned in the Retributive Policy section, the Executive Board Members have a series of Assistance Services. Below, the contributions made during 2017 are detailed for the Company's two long-term savings systems (Pension Plans and Social Welfare Plan): LONG-TERM SAVINGS SYSTEMS (Amounts in euros) Directors Contributions for fiscal year 2017 Mr. José María Álvarez-Pallete López 673,085 Mr. Ángel Vilá Boix (since July 26, 2017) 268,922 The breakdown of the long-term saving systems includes contributions to Pension Plans, to the Benefit Plan and to the Unit link-type Insurance, as set out below: (Amounts in euros) Directors Contributions to Pension Plans Contributions to Benefits Plan 1 Contributions to Unit link-type Insurance/Pension Plan Surplus Mr. José María Álvarez-Pallete López 6,060 540,968 126,057 Mr. Ángel Vilá Boix (since July 26,2017) — 212,665 56,257 1 Contributions to the Executive Benefits Plan in 2006, funded solely by the Company, to supplement the Pension Plan in effect, which entails defined contributions equal to a particular percentage of the Officer’s fixed compensation based on professional levels within the Telefónica Group’s organization. It is noted that in 2015 applicable law reduced the financial and tax limits of the contributions to Pension Plans; for this reason, in order to compensate for the difference in favor of the Beneficiaries, a Unit-link type group insurance policy was arranged to channel such differences that occur during each fiscal year. This Unit-link type insurance is arranged with the entity Seguros de Vida y Pensiones Antares, S.A., and covers the same contingencies as those of the “Pension Plan” and the same exceptional liquidity events in case of serious illness or long-term unemployment. The 2017 amounts for life insurance premiums were as follows: LIFE INSURANCE PREMIUMS (Amounts in euros) Directors Life insurance premiums Mr. José María Álvarez-Pallete López 14,270 Mr. Ángel Vilá Boix (since July 26,2017) 7,759 Mr. César Alierta Izuel (until May 4,2017) 855 With regard to payment plans based on shares (in those in which the Executive Board Members participate exclusively), the following two long-term variable payment plans existed in effect for 2017: 1. The one named "Performance & Investment Plan" ("PIP") composed of three cycles (2014-2017; 2015-2018; 2016-2019), approved by the General Shareholder's Meeting held on May 30, 2014. The first cycle of this Plan started in 2014 and concluded in October of 2017. In accordance with that established in its general conditions, the delivery of shares did not occur in the first cycle of the Plan (2014-2017), therefore no share was delivered to the Executive Board Members that participated in this cycle. The second cycle of this Plan started in 2015 and will end in October 2018. With regard to the third cycle of this Plan (2016-2019), the Board of Directors of the Company, following a favorable report from the Appointments, Remuneration and Good Governance Committee, resolved not to execute or implement it, after having decided that it was not sufficiently in line with the Telefónica Group's strategic plan, taking into account the circumstances and macroeconomic environment. The number of theoretical shares assigned (without co-investment) is defined below, as well as the maximum number of shares assigned in the event of compliance with the "co-investment" requirement established in the Plan and of maximum compliance of the TSR objective fixed for the second cycle of the Plan. PIP - Second phase / 2015-2018 Directors Theoretical shares allocated (without co-investment) Maximum number of shares (*) Mr. José María Álvarez-Pallete López 192,000 300,000 Mr. Ángel Vilá Boix 120,000 187,500 Mr. César Alierta Izuel 324,000 506,250 (*) Maximum possible number of shares to be received in case of meeting the co-investment requirement and maximum completion of TSR target. Mr. César Alierta Izuel ceased his position as Director on May 4, 2017. In any case, it is clarified that no share has been delivered to the Executive Board Members under the second cycle of the PIP and that the previous box only reflects the number of potentially deliverable shares in different scenarios, without supposing in any way that they will effectively be delivered in whole or in part. In effect, the number of Telefónica, S.A. shares that, always within the maximum established, could be object of delivery, when applicable, is conditioned to the Participants and is determined depending on the Total Shareholder Return ("TSR") of the Telefónica, S.A. share during the duration period of the cycle ( 3 years ), with relation to the TSRs experienced by certain companies belonging to the telecommunications sector, weighted according to their relevance for Telefónica, S.A., that for the purposes of the Plan will constitute a comparison group (hereinafter, the "Comparison Group"). The companies included in the Comparison Group are listed below: America Movil, BT Group, Deutsche Telekom, Orange, Telecom Italia, Vodafone Group, Proximus, Royal KPN, Millicom, Oi, Swisscom, Telenor, TeliaSonera, and Tim Participaçoes. The achievement scale approved by the Board is the following: in the event that the performance of the TSR of the Telefónica, S.A. share is located in, at least, the median of the Comparison Group, the number of shares to be delivered will be 30% of the maximum. For the case of said performance located in the third quartile of the Comparison Group, the number of shares to be delivered will be 100% of the maximum. Those cases that are located between the median and the third quartile will be calculated by linear interpolation. In the event that the TSR performance of the Telefónica, S.A. share is located in the ninth decile or above, the percentage to be delivered will be greater than 100% , up to a maximum of 125% , being calculated by linear interpolation between said third quartile and the ninth decile. 2. The second plan is the incentive plan for the purchase of Telefónica, S.A. shares. (2015-2017) directed to all the employees of the Group at the international scale (including leadership, as well as the Executive Board Members) called "Overall Incentive Plan for the Purchasing of Shares for Employees" ("GESP"), whose third edition was approved by the General Shareholder's Meeting of the Company held on May 30, 2014. This Plan was aimed at strengthening the character of the overall employer of Telefónica, creating a common payment culture throughout the Company, promoting participation in the capital of the totality of the employees of the Group, and fostering motivation and loyalty. Under this Plan, employees were offered the option to acquire Telefónica, S.A. shares during a maximum twelve month period (the acquisition period), with the company undertaking to deliver a certain number of free shares to participants, subject to certain requirements. Each employee was limited to buying a maximum of 1,800 euros in shares, subject to a minimum of 300 euros. If the employee remained part of the Telefónica Group and held onto the shares for one year following the acquisition period (the consolidation period), they were entitled to receive one free share for each share they acquired and retained throughout the consolidation period. The Executive Board Members, Mr. José María Álvarez-Pallete López and Mr. Ángel Vilá Boix, and then Executive Board Member, Mr. César Alierta Izuel, decided to participate in this Plan 2015-2017 with the maximum contribution (that is, 150 euros monthly for twelve months), having each acquired a total of 357 shares (among which included those that they received for free, in accordance with that established in the general conditions of this Plan). Additionally, it is worth noting that the external Board Members of the Company do not receive and have not received during 2017 any payment in terms of pensions or life insurance, nor participate in payment plans regarding the price value of the share (with the exception of that indicated for Mr. Alierta in the previous boxes). Likewise, the Company does not grant and has not granted, in 2017, any advances, loans or credits in favor of the Board Members, nor in favor of their Senior Management, complying with the demands of the Sarbanes-Oxley Act published in the United States, and that is applicable to Telefónica as a company listed in that market. Compensation of the Senior Management of the Company. The Management that in 2017 included the Senior Management 1 of the Company, excluding those that form an integral part of the Board of Directors, received a total of 7,566,822 euros in 2017. Regarding long-term savings systems, the contributions made on behalf of the Telefónica Group during 2017 to the Social Welfare Plan described in the note on "Income and expenses" in regard to those Managers amount to 874,796 euros; the contributions corresponding to the Pension Plan amount to 24,058 euros; and the contributions to Unit Linked Excess Insurance Pension Plan amount to 83,089 euros Likewise, the amounts relative to the payment in kind (among which includes, the quotes for life insurance and other types of insurance, such as general medical insurance and dental and vehicle coverage), have been 94,637 euros. Moreover, and with regard to payment plans based on shares, during 2017 the following two long-term variable payment plans existed: 1. The one named "Performance & Investment Plan" ("PIP") composed of three cycles (2014-2017; 2015-2018; 2016-2019), approved by the General Shareholder's Meeting held on May 30, 2014. The first cycle of this Plan started in 2014 and concluded in October of 2017. In accordance with that established in its general conditions, the delivery of shares did not happen in the first cycle of the Plan (2014-2017), therefore no share was delivered to the Managers that participated in this cycle. The number of theoretical shares assigned (without co-investment) at the beginning of the second cycle (2015-2018) to the group of the senior executives in the Senior Management of the Company and the maximum number of shares assigned 2 is 197,650 and 307,063 , respectively. In any case, it is clarified that no share has been delivered to the Executive Board Members under the first or second cycle of the Second PIP and that the previous box only reflects the number of potentially deliverable shares in different scenarios, without supposing in any way that they will effectively be delivered in whole or in part. With regard to the third cycle of this Plan (2016-2019), the Board of Directors of the Company, following a favorable report from the Appointments, Remuneration and Good Governance Committee, resolved not to execute or implement it, after having decided that it was not sufficiently in line with the Telefónica Group's strategic plan, taking into account the circumstances and macroeconomic environment. 2. The second Plan is the ""Overall Incentive Plan for the Purchasing of Shares for Employees" ("GESP") (2015-2017), whose third edition was approved by the General Shareholder's Meeting of the Company held on May 30, 2014. The Managers that have decided to participate in it with the maximum contribution (that is, 150 euros monthly for twelve months) have acquired a total of 1,429 shares (among which included those that they received for free, in accordance with that established in the general conditions of said Plan). 1 Senior Management being understood, for these purposes, those persons that implement, de facto or de jure, senior management duties reporting directly to the Board of Directors or Executive Committees or Managing Directors of the Company, including in any case the supervisor of Internal Auditing. 2 Maximum number possible of shares to be received in the event of fulfilling the co-investment requirement and maximum compliance of the TSR objective. |
Appendix III_ Debentures and Bo
Appendix III: Debentures and Bonds | 12 Months Ended |
Dec. 31, 2017 | |
Appendix III: Debentures and Bonds [Abstract] | |
Appendix III: Debentures and Bonds | Appendix III: Debentures and bonds The detail and key features of outstanding debentures and bonds at December 31, 2017 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 1,042 1,042 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,542 1,542 EMTN O2 GBP GBP 5.375 % 845 — — — — — 845 EMTN O2 GBP GBP 5.375 % — — — — — 563 563 TELEF EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,667 1,667 TELEF EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0.83000% — — — 55 — — 55 TELEF EMISIONES JANUARY 07 B EUR 1 x EURIBOR3M + 0.70000% 24 — — — — — 24 TELEF EMISIONES MAY 2014 EUR 2.242 % — — — — 1,250 — 1,250 TELEF EMISIONES JULY 15, 2019 USD 5.877 % — 834 — — — — 834 TELEF EMISIONES NOVEMBER 11, 2019 EUR 4.693 % — 1,750 — — — — 1,750 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — — — — 732 — 732 TELE EMISIONES APRIL 3 2010 USD 5.134 % — — 1,168 — — — 1,168 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 451 451 TELEF EMISIONES FEBRUARY 2011 USD 5.462 % — — — 1,251 — — 1,251 TELEF. EMISIONES FEBRUARY 2012 EUR 4.797 % 1,500 — — — — — 1,500 TELEF. EMISIONES FEBRUARY 2012 GBP 5.597 % — — 788 — — — 788 TELEF. EMISIONES JUNE 2013 JPY 4.250 % 74 — — — — — 74 TELEF. EMISIONES OCTOBER 2012 EUR 4.710 % — — 1,200 — — — 1,200 TELEF. EMISIONES DECEMBER 2012 CHF 2.718 % 213 — — — — — 213 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — — — — 128 — 128 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — — — — 1,500 1,500 Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total TELEF. EMISIONES MARCH 2013 EUR 3.961 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2013 USD 3.192 % 1,042 — — — — — 1,042 TELEF EMISIONES APRIL 2013 USD 4.570 % — — — — — 625 625 TELEF. EMISIONES MAY 2013 EUR 2.736 % — 750 — — — — 750 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES OCTOBER 2013 CHF 2.595 % — — 192 — — — 192 TELEF EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0.83% — — — — 67 — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2016 EUR 0.750 % — — — — 1,400 — 1,400 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 0.318 % — — 1,250 — — — 1,250 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1 x EURIBOR3M +0.40% — 150 — — — — 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,251 1,251 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,668 1,668 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 167 167 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 417 417 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 Telefónica Emisiones, S.A.U. 3,698 3,484 4,598 3,306 3,577 14,559 33,222 Exchangeable Bond MARCH 2016 (*) EUR — — — — 600 — — 600 Telefónica Participaciones — — — — 600 — — 600 Total Telefónica, S.A. and its instrumental companies 3,698 3,484 4,598 3,906 3,577 16,101 35,364 (*) Issue of non-dilutive cash-settled equity-linked bonds referenced to Telefónica share price, with a nominal amount of 600 million euros, issue price of 101.25% and maturing in March 2021. Foreign operators Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Bond Q CLP 5.750 % — 64 — — — — 64 Bond T CLP 4.900 % — — 13 26 — 26 65 144A Bond USD 3.875 % — — — — 417 — 417 Telefónica Chile, S.A. — 64 13 26 417 26 546 Bond F UF 3.600 % — — — — — 109 109 Bond G UF 2.200 % — — 73 — — — 73 Bond I UF 1.950 % — — 73 — — — 73 Bond K CLP 4.900 % — — — 128 — — 128 Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Telefónica Móviles Chile, S.A. — — 146 128 — 109 383 T. Finanzas Mex 0710 FIX MXN 8.070 % — — 83 — — — 83 Telefónica Finanzas México, S.A. — — 83 — — — 83 Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3.6250% — — — — — 22 22 Bond T. Peru 4th Program (12th Serie A) N. SOL VAC + 3.6875% — 21 — — — — 21 Bond T. Peru 4th Program (36th Serie B) N. SOL VAC + 3.3750% 17 — — — — — 17 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2.8750% — — — — — 17 17 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3.1250% — — — — — 16 16 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3.1875% — — — — — 7 7 Bond T. Peru 5th Program (22nd Serie Ab) N. SOL VAC + 3.5000% — 4 — — — — 4 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3.5000% — — — 8 — — 8 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — — — — 67 67 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.190 % — — — — — 31 31 Bond T. Peru 6th Program (12th Serie A) N. SOL 5.060 % — — 28 — — — 28 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — — — — 36 — 36 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.340 % — — — — 26 — 26 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.470 % — — — — — 34 34 Bond TM Peru 2nd Program (11th Serie B) N. SOL 7.375 % 15 — — — — — 15 Bond TM Peru 2nd Program (27th Serie A) N. SOL 5.531 % — 13 — — — — 13 Telefónica del Perú, S.A. 32 38 28 8 62 194 362 Nonconvertible bonds BRL 1.0 XCDI + 0.68% 328 — — — — — 328 Nonconvertible bonds BRL 1.0825 XCDI — — — 252 252 — 504 Nonconvertible bonds BRL 1.0 XCDI + 0.24% — — 252 — — — 252 Nonconvertible bonds BRL 1 XIPXA +4 — 10 — — — — 10 Nonconvertible bonds ( Telemig) I BRL IPCA + 0.5% 1 1 1 1 — — 4 Nonconvertible bonds ( Telemig) II BRL IPCA + 0.5% 2 2 2 2 — — 8 Nonconvertible bonds ( Telemig) III BRL IPCA + 0.5% 3 3 3 3 — — 12 Telefônica Brasil, S.A. 334 16 258 258 252 — 1,118 BOND R144-A USD 5.375 % — — — — 625 — 625 Colombia Telecomunicaciones, S.A, ESP — — — — 625 — 625 Bond EUR 1.875 % 600 — — — — — 600 Bond EUR 2.375 % — — — 500 — — 500 O2 Telefónica Deutschland Finanzierungs, GmbH 600 — — 500 — — 1,100 Total Outstanding Debentures and Bonds Foreign operators 966 118 528 920 1,356 329 4,217 Total Outstanding Debentures and Bonds 4,664 3,602 5,126 4,826 4,933 16,430 39,581 The main debentures and bonds issued by the Group in 2017 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 01/17/2017 01/17/2025 1,250 1,250 EUR 1.528 % EMTN Bond 01/17/2017 10/17/2028 500 500 EUR 2.318 % EMTN Bond 01/25/2017 01/25/2019 150 150 EUR EURIBOR 3M + 0.40% SHELF Bond 03/08/2017 03/08/2027 1,500 1,251 USD 4.103 % SHELF Bond 03/08/2017 03/08/2047 2,000 1,667 USD 5.213 % EMTN Bond (Retap) 03/17/2017 10/17/2028 200 200 EUR 2.318 % EMTN Bond 04/18/2017 04/18/2037 200 167 USD 4.900 % SHELF Bond (Retap) 04/28/2017 03/08/2047 500 417 USD 5.213 % EMTN Bond 09/12/2017 01/12/2028 1,250 1,250 EUR 1.715 % Telefónica Brasil, S.A. Debentures 02/08/2017 02/08/2022 2,000 504 BRL 108.25% CDI Debentures 11/27/2017 11/27/2020 1,000 252 BRL 100% CDI + 0.24% Appendix V: Interest-bearing debt The main financing transactions at December 31, 2017 and 2016 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2017 12/31/2016 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 153 USD 128 190 05/03/2011 07/30/2021 Structured Financing (*) 551 USD 460 635 02/22/2013 01/31/2023 Structured Financing (*) 446 USD 371 505 08/01/2013 10/31/2023 Bilateral (1) 1,500 EUR 1,500 1,500 06/26/2014 06/26/2019 Syndicated facility 2,500 EUR — 550 02/19/2015 02/19/2022 Bilateral (2) — EUR — 200 06/30/2015 12/29/2017 Structured Financing (*) 679 USD 566 324 12/11/2015 03/11/2026 Structured Financing (*) 469 EUR 423 240 12/11/2015 03/11/2026 Bilateral loan (3) — EUR — 100 02/23/2016 02/23/2017 Bilateral loan 100 EUR 100 100 02/23/2016 02/23/2021 Loan 300 EUR 300 300 03/08/2016 03/08/2021 Bilateral loan (4) 150 EUR 150 300 10/24/2016 03/19/2019 Credit 380 EUR 292 — 12/27/2002 12/27/2020 Credit 200 EUR 167 — 03/27/2013 03/14/2020 Telefónica Germany GmbH & Co. OHG Syndicated facility (5) 750 EUR — 50 03/22/2016 03/22/2022 EIB Financing — EUR 450 250 06/13/2016 06/13/2025 Telefónica Europe, B.V. Structured Financing (*) 750 EUR 750 — 11/28/2016 11/28/2024 ( 1) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (2) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (5) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount. |
Appendix IV_ Financial Instrume
Appendix IV: Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Appendix IV: Financial Instruments [Abstract] | |
Appendix IV: Financial Instruments | Financial assets and liabilities 1. Financial assets a) Non-current financial assets The movement in items composing “Non-current financial assets” in 2017 and 2016 , is as follows: Millions of euros Investments Long-term credits Deposits and guarantees Derivative financial assets Impairment provision Non-current prepayments Non-current financial assets Balance at 12/31/15 1,289 2,512 1,425 5,315 (507 ) 371 10,405 Acquisitions 73 952 169 73 (13 ) 43 1,297 Disposals (446 ) (955 ) (102 ) (270 ) 402 (20 ) (1,391 ) Translation differences 8 (37 ) 337 (15 ) 30 6 329 Fair value adjustments and financial updates (103 ) (21 ) 102 151 — — 129 Transfers and other 4 (681 ) 7 (206 ) (66 ) (62 ) (1,004 ) Balance at 12/31/16 825 1,770 1,938 5,048 (154 ) 338 9,765 Acquisitions 16 960 955 — (12 ) 170 2,089 Disposals (155 ) (232 ) (156 ) (120 ) 41 (24 ) (646 ) Translation differences (7 ) (81 ) (258 ) (57 ) 16 (19 ) (406 ) Fair value adjustments and financial updates 5 (1 ) 84 (1,251 ) — — (1,163 ) Transfers and other (34 ) (594 ) 62 (808 ) (29 ) (69 ) (1,472 ) Balance at 12/31/17 650 1,822 2,625 2,812 (138 ) 396 8,167 Investments “Investments” includes the fair value of investments in companies where Telefónica does not exercise significant control and for which there is no specific disposal plan for the short term (see Note 3.i). In June 2017, Telefonica sold its entire shareholding in Mediaset Premium representing 11.1% , which had a negative impact in Net financial expense amounting to 76 million euros. In 2017 shares of China Unicom (Hong Kong) Limited were sold representing 0.24% of its share capital for 72 million euros, that had a negative impact in Net financial expense to 4 million euros. On July 10, 2016, Telefónica sold 1.51% of the share capital of China Unicom (Hong Kong) Limited for 322 million euros (see Note 20), that had a negative impact of 155 million euros on consolidated financial results. At December 31, 2017 , Telefónica maintained a 0.59% stake in the share capital of China Unicom (Hong Kong) Limited, valued at 205 million euros ( 1% at December 31, 2016 , valued at 263 million euros). Additionally, the Telefónica Group’s shareholding in Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) amounts to 314 million euros ( 283 million euros at December 31, 2016 ), representing 0.66% of its share capital at December 31, 2017 ( 0.67% at December 31, 2016 ). "Transfer and other" in 2017 principally includes the prior stake of the Colombian companies Telebucaramanga, Metrotel y Optecom (see Note 5). At year-end the Group assessed the securities in its portfolio of listed available-for-sale assets individually for impairment. The analysis did not uncover the need to recognize any significant impairment losses. Long-term credits and impairment losses The composition of long-term credits is as follows: Millions of euros 12/31/2017 12/31/2016 Long-term trade receivables 638 593 Long-term receivables for indirect taxes 189 144 Other long-term credits 995 1,033 Total 1,822 1,770 “Other long-term credits” includes long-term financial assets of the subsidiary Seguros de Vida y Pensiones Antares, S.A., fundamentally fixed-income securities, amounting to 692 million euros and 749 million euros at December 31, 2017 and 2016 , respectively. These assets are mainly intended to cover the obligations from the defined benefit plans of Telefónica de España (ITP and Survival), though they do not qualify as “plan assets” under IAS 19 (see Note 15). Additionally, this line item includes long-term financial assets of Telefónica Germany amounting to 58 and 8 million euros at December 31, 2017 and 2016, respectively, that are mainly intended to cover the obligations from the defined benefit plan of Telefónica Germany, though they do not represent "plan assets" in accordance with IAS 19 (see Note 15). The movement in impairment corrections in 2016 was mainly due to the write-off of long-term receivables after the agreement reached by Telefónica Móviles México with other operators on disputes over interconnection tariffs in prior years. Deposits and guarantees Telefónica Brasil has non-current judicial deposits constituted amounting to 1,598 million euros (see Note 15) at December 31, 2017 ( 1,761 million euros at December 31, 2016). At December 31, 2017 there were deposits related to the collateral guarantees on derivatives signed by Telefonica, S.A. and its counterparties for the credit risk management of derivatives amounting to 902 million euros that includes 286 million euros with BBVA ( 240 million euros at December 31, 2016, see Note 10). Derivative financial assets In 2017 “Fair value adjustments and financial updates” mainly relates to the change of value of the long-term derivative financial assets (see section 2.a of this note). b) Current financial assets This heading of financial investments includes the following items: • Derivative financial assets with a short-term maturity or not used to hedge non-current items in the consolidated statement of financial position, in the amount of 845 million euros at December 31, 2017 ( 1,872 million euros at December 31, 2016 , see section 2.a of this Note). • Short-term investments in financial instruments recognized at fair value to cover commitments undertaken by the Group’s insurance companies, amounting to 130 million euros at December 31, 2017 ( 304 million euros at December 31, 2016 ), recorded at fair value. • S hort-term deposits and guarantees amounting to 125 million euros at December 31, 2017 ( 450 million euros at December 31, 2016 ) which include current judicial deposits amounting 82 million euros (see Note 15) constituted by Telefónica Brasil ( 88 million euros at December 31, 2016). • Short-term credits, net of impairment provisions, amounting to 877 million euros at December 31, 2017 ( 205 million euros at December 31, 2016 ). At December 31, 2017 include bank deposits with a maturity beyond three and twelve months formalized by Telefónica, S.A. amounting to 700 million euros. Current financial assets that are highly liquid and have maturity periods of three months or less from the date contracted, and present an insignificant risk of value changes, are recorded under “Cash and cash equivalents” on the accompanying consolidated statement of financial position. c) Breakdown of financial assets The breakdown of financial assets of the Telefónica Group at December 31, 2017 and 2016 , without considering non-current prepayments, is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,074 250 1,117 1,738 822 3,339 18 — 3,592 7,771 7,771 Investments — — 650 — 567 83 — — — 650 650 Long-term credits — 250 467 — 86 613 18 — 1,105 1,822 1,684 Deposits and guarantees — — — — — — — — 2,625 2,625 2,625 Derivative instruments 1,074 — — 1,738 169 2,643 — — — 2,812 2,812 Impairment losses — — — — — — — — (138 ) (138 ) — Current financial assets 163 60 66 731 105 915 — 169 6,157 7,346 7,346 Financial investments 163 60 66 731 105 915 — 169 965 2,154 2,154 Cash and cash equivalents — — — — — — — — 5,192 5,192 5,192 Total 1,237 310 1,183 2,469 927 4,254 18 169 9,749 15,117 15,117 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,716 270 1,333 3,332 864 5,766 21 — 2,776 9,427 9,427 Investments — — 825 — 620 205 — — — 825 825 Long-term credits — 270 508 — 76 681 21 — 992 1,770 1,616 Deposits and guarantees — — — — — — — — 1,938 1,938 1,938 Derivative instruments 1,716 — — 3,332 168 4,880 — — — 5,048 5,048 Impairment losses — — — — — — — — (154 ) (154 ) — Current financial assets 883 118 115 1,173 483 1,806 — 39 4,362 6,690 6,690 Financial investments 883 118 115 1,173 483 1,806 — 39 626 2,954 2,954 Cash and cash equivalents — — — — — — — — 3,736 3,736 3,736 Total 2,599 388 1,448 4,505 1,347 7,572 21 39 7,138 16,117 16,117 The calculation of the fair values of the Telefónica Group’s debt instruments required an estimate, for each currency and counterparty, of a credit spread curve using the prices of the Group’s bonds and credit derivatives. The derivatives portfolio was measured through the techniques and models normally used in the market, based on money market curves and volatility prices available in the markets. Additionally, the credit valuation adjustment or net CVA per counterparty (CVA+DVA) is calculated on that measurement as the method used to measure the credit risks of the counterparties and also Telefónica for the purpose of adjusting the fair value valuation of the derivatives. This adjustment reflects the possibility of bankruptcy or credit rating impairment of the counterparty and Telefónica. 2. Financial liabilities T he breakdown of financial liabilities at December 31, 2017 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2018 2019 2020 2021 2022 Subsequent years Non-current total Total Debentures and bonds 5,313 3,599 5,108 4,760 4,903 17,605 35,975 41,288 Promissory notes & commercial paper 2,107 — 112 — — 187 299 2,406 Total Issues 7,420 3,599 5,220 4,760 4,903 17,792 36,274 43,694 Loans and other payables 1,714 2,250 819 918 531 2,668 7,186 8,900 Derivative instruments (Note 16) 280 214 824 453 185 1,196 2,872 3,152 Total 9,414 6,063 6,863 6,131 5,619 21,656 46,332 55,746 The estimate of future payments for interest on these financial liabilities at December 31, 2017 is as follows: 1,715 million euros in 2018, 1,525 million euros in 2019, 1,323 million euros in 2020, 1,068 million euros in 2021, 914 million euros in 2022 and 7,037 million euros in years after 2022 . For floating rate financing, the Group mainly estimates future interest using the forward curve of the various currencies at December 31, 2017 . Derivative instruments take into account the fair value of derivatives classified as financial liabilities (i.e., those with a negative mark-to-market) and excludes the fair value of derivatives classified as current financial assets ( 845 million euros), and those classified as non-current ( 2,812 million euros) (i.e., those with a positive mark-to-market). In 2016 and 2017 the Group entered into agreements to extend payment terms with various suppliers, and with factoring companies when such payments are discounted. When the new extended payment terms exceed customary payment terms in the industry, trade liabilities are reclassified to other financial liabilities and the deferred payments made are recognized in net cash flow used in financing activities (see Note 20) . At December 31, 2017 the corresponding amount pending payment, recognized in “Loans and other payables”, was 153 million euros ( 210 million euros at December 31, 2016 ). The deferred payments made in relation to this item during the year amounted to 717 million euros ( 1,758 million euros in 2016 ). The composition of these financial liabilities, by category, at December 31, 2017 and 2016 is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Liabilities at amortized cost Total carrying amount Total fair value Issues — — — — — — 43,694 43,694 47,166 Loans and other payables — — — — — — 8,900 8,900 9,010 Derivative instruments 1,180 — 1,972 80 3,072 — — 3,152 3,152 Total financial liabilities 1,180 — 1,972 80 3,072 — 52,594 55,746 59,328 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Liabilities at amortized cost Total carrying amount Total fair value Issues — — — — — — 45,444 45,444 48,686 Loans and other payables — — — — — — 11,398 11,398 11,398 Derivative instruments 2,299 — 1,220 64 3,455 — — 3,519 3,519 Total financial liabilities 2,299 — 1,220 64 3,455 — 56,842 60,361 63,603 The calculation of the fair values of the Telefónica Group’s debt instruments required an estimate, for each currency and subsidiary, of the credit spread curve using the prices of the Group’s bonds and credit derivatives. At December 31, 2017 , some of the financing arranged by Telefónica Group companies in Latin America (Brazil, Panama, Ecuador and Guatemala) which amount to approximately 3% of the Telefónica Group’s gross debt was subject to compliance with certain financial covenants. To date, these covenants are being met. Due to the absence of cross-defaults, breach of the covenants would not affect the debt at a Telefónica, S.A. level. Part of the amount owed by the Telefónica Group includes restatements to amortized cost at December 31, 2017 and 2016 as a result of fair value interest rate and exchange rate hedges. a) Financial liabilities associated to financing activities T he following movement presents the detail of changes in the financial liabilities in 2017 that arise from the financial activities: Cash used in financing activities Millions of euros Balance at 12/31/16 Acquisitions Disposals Translation differences Fair value adjustment and financial updates Others movements Balance at 12/31/17 Issues 42,084 8,390 (6,687 ) (2,178 ) (296 ) (25 ) 41,288 Promissory notes and commercial paper 3,360 60 (1,008 ) (6 ) — — 2,406 Loans and other payables 11,397 4,209 (6,241 ) (699 ) (16 ) 250 8,900 Net derivative instruments (3,401 ) — 396 87 3,075 (662 ) (505 ) Total 53,440 12,659 (13,540 ) (2,796 ) 2,763 (437 ) 52,089 The positive fair value of the Telefónica Group derivatives at December 31, 2017 amounted to 505 million euros (accounts receivable). The variation versus the previous year end represents a reduction of 2,896 million euros mainly due to the dollar devaluation against the euro. This variation is offset mainly by the variation of the different Telefónica Group issues and loans performed in dollars (see Note 16). b) Issues The movement in issues of debentures, bonds and other marketable debt securities in 2017 and 2016 is as follows: Millions of euros Debenture and bond issues Promissory notes and commercial paper Total Balance at 12/31/15 43,557 1,815 45,372 New issues 5,693 1,566 7,259 Redemptions, conversions and exchanges (6,873 ) (25 ) (6,898 ) Revaluation and other movements (293 ) 4 (289 ) Balance at 12/31/16 42,084 3,360 45,444 New issues 8,390 60 8,450 Redemptions, conversions and exchanges (6,687 ) (1,008 ) (7,695 ) Revaluation and other movements (2,499 ) (6 ) (2,505 ) Balance at 12/31/17 41,288 2,406 43,694 Debentures and bonds At December 31, 2017 , the nominal amount of outstanding debentures and bonds issues is 39,581 million euros ( 40,055 million euros at December 31, 2016 ). Appendix III presents the characteristics of all outstanding debentures and bond issues at year-end 2017 , as well as the significant issues made in the year. On July, 24, 2017 there was the maturity date of the mandatory exchangeable bonds into ordinary shares of Telecom Italia, S.p.A., issued by Telefónica, S.A. on July 24, 2014, for 750 million euros. At the maturity date, the Company fulfilled its commitments to deliver the shares with the vesting of the equity swap instrument arranged for that purpose. Telefónica, S.A. has a full and unconditional guarantee on issues made by Telefónica Emisiones, S.A.U., Telefónica Finanzas México, S.A. de C.V., Telefónica Europe, B.V. and Telefónica Participaciones, S.A.U., all of which are, directly or indirectly, fully-owned subsidiaries of Telefónica, S.A. Promissory notes and commercial paper The main programs for issuance of promissory notes and commercial paper are the following: • At December 31, 2017 , Telefónica Europe, B.V. had a program for issuance of commercial paper, guaranteed by Telefónica, S.A., for up to 5,000 million euros. The outstanding balance of commercial paper issued under this program at December 31, 2017 was 1,850 million euros, issued at an average interest rate of -0.17% for 2017 ( 2,630 million euros issued in 2016 at an average rate of -0.01% ). • At December 31, 2017 , Telefónica, S.A. had a corporate promissory note program for 500 million euros, which can be increased to 2,000 million euros, with an outstanding balance at December 31, 2017 amounting to 204 million euros ( 370 million euros in 2016 ). c) Interest-bearing debt The average interest rate on outstanding loans and other payables at December 31, 2017 was 2.01% ( 3.84% in 2016 ). This percentage does not include the impact of hedges arranged by the Group. The main financing transactions included under “Interest-bearing debt” outstanding at December 31, 2017 and 2016 and their nominal amounts are provided in Appendix V. Interest-bearing debt arranged or repaid in 2017 mainly includes the following: Description Limit 12/31/2017 (million euros) Currency Outstanding balance 12/31/2017 (million euros) Arrangement date Maturity date Drawndown 2017 (million euros) Repayment 2017 (million euros) Telefónica, S.A. Syndicated facility 2,500 EUR — 02/19/2015 02/19/2022 — (550 ) Syndicated facility (1) — EUR — 11/17/2015 03/30/2017 — — Structured financing (*) 679 USD 566 12/11/2015 03/11/2026 329 (48 ) Structured financing (*) 469 EUR 423 12/11/2015 03/11/2026 217 (34 ) Structured financing (2)(*) — EUR — 06/13/2014 12/15/2017 (185 ) Bilateral loan (3) — EUR — 02/23/2016 02/23/2017 — (100 ) Bilateral loan (4) — EUR — 11/13/2015 05/16/2017 — (100 ) Bilateral loan (5) 1,500 EUR 1,500 06/26/2014 06/26/2019 — — Bilateral loan (6) — EUR 06/30/2015 12/29/2017 — (200 ) Bilateral loan (7) 150 EUR 150 10/24/2016 03/19/2019 — (150 ) Credit facility 380 EUR 292 12/27/2002 12/27/2020 292 — Credit facility 200 EUR 167 03/27/2013 03/14/2020 167 — Telefónica Germany GmbH & Co. OHG Syndicated facility (8) 750 EUR — 03/22/2016 03/22/2022 650 (700 ) EIB Financing — EUR 450 06/13/2016 06/13/2025 200 — Telefónica Europe, B.V. Structured financing (*) 750 EUR 750 11/28/2016 11/28/2024 750 — (1) On March 30, 2017 an early cancellation was made for the 1,500 million euros syndicated facility originally scheduled to mature in 2019. (2) On December 15, 2017 an early repayment was made for the long-term financing originally scheduled to mature in 2019. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On May 16, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2020. (5) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (6) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (7) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (8) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule showing in the column "Limit 12/31/2017" the undrawn amount. At December 31, 2017 , the Telefónica Group presented availabilities of financing from different sources amounting approximately to 13,531 million euros ( 14,627 million euros at December 31, 2016 ), of which 12,541 million euros maturing in more than twelve months . Loans by currency The breakdown of “Loans and other payables” by currency at December 31, 2017 and 2016 , along with the equivalent value of foreign-currency loans in euros, is as follows: Outstanding balance (in millions) Currency Euros Currency 12/31/17 12/31/16 12/31/17 12/31/16 Euro 4,682 5,174 4,682 5,174 US dollar 2,936 2,812 2,448 2,668 Brazilian Real 3,939 4,744 993 1,381 Colombian Peso 1,398,550 5,473,409 391 1,731 Pounds Sterling 106 109 120 127 Peruvian nuevo sol 462 527 119 149 Other currencies 147 168 Total Group 8,900 11,398 The decrease in debt denominated in Colombian peso is mainly due to the pre-paid of all the debt with the PARAPAT (see Note 22). Appendix IV: Financial instruments The detail of the type of financial instruments arranged by the Group (notional amount) by currency and interest rates at December 31, 2017 is as follows: Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Euro (227 ) 6,238 6,055 7,062 3,382 16,845 39,355 25,568 14,590 40,158 Floating rate 2,861 1,542 157 3,519 508 3,443 12,030 2,474 9,666 12,140 Spread (0.20 %) 0.15 % (1.92 %) (0.10 %) 0.17 % 0.18 % (0.02 %) — — — Fixed rate (3,088 ) 4,696 5,898 3,543 2,874 13,402 27,325 23,094 4,924 28,018 Interest rate (2.09 %) 2.18 % 3.28 % 2.02 % 1.62 % 1.95 % 2.71 % — — — Rate cap — — — — — — — — — — Other european currencies Instruments in CZK (67 ) — — — — — (67 ) — (67 ) (67 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (67 ) — — — — — (67 ) — (67 ) (67 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in GBP 2,324 (567 ) (394 ) — 733 1,014 3,110 3,372 (236 ) 3,136 Floating rate 456 (479 ) (439 ) 79 442 451 510 6 506 512 Spread — — — — — — — — — — Fixed rate 1,868 (88 ) 45 (79 ) 178 563 2,487 3,253 (742 ) 2,511 Interest rate 2.28 % 4.03 % 65.20 % 0.03 % 5.12 % 5.38 % 4.33 % — — — Rate cap — — — — 113 — 113 113 — 113 Instruments in CHF — — — — — — — 583 (584 ) (1 ) Floating rate — — — — — — — — (2 ) (2 ) Spread — — — — — — — — — — Fixed rate — — — — — — — 583 (582 ) 1 Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — America Instruments in USD (1,915 ) 286 229 (1,659 ) 614 2,525 80 17,812 (17,515 ) 297 Floating rate (559 ) 242 228 (1,659 ) 630 1,834 716 659 55 714 Spread (0.27 %) 0.29 % 0.99 % (0.07 %) 0.01 % — 0.78 % — — — Fixed rate (1,356 ) 44 1 — (16 ) 691 (636 ) 17,153 (17,570 ) (417 ) Interest rate (1.27 %) 43.21 % 1,747.03 % — (186.47 %) 11.24 % (25.26 %) — — — Rate cap — — — — — — — — — — Instruments in UYU 16 — — — — — 16 (5 ) 19 14 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 16 — — — — — 16 (5 ) 19 14 Interest rate (0.67 %) — — — — — (0.67 %) — — — Rate cap — — — — — — — — — — Instruments in ARS (159 ) 24 — — — (14 ) (149 ) (141 ) — (141 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (159 ) 24 — — — (14 ) (149 ) (141 ) — (141 ) Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Interest rate 5.09 % 16.22 % — — — 16.27 % 4.35 % — — — Rate cap — — — — — — — — — — Instruments in BRL 317 346 373 333 253 73 1,695 818 881 1,699 Floating rate (690 ) 126 357 319 245 (120 ) 237 239 4 243 Spread (1.06 %) 2.82 % 1.07 % 0.36 % 0.47 % (0.08 %) 7.20 % — — — Fixed rate 1,007 220 16 14 8 193 1,458 579 877 1,456 Interest rate 5.36 % 7.35 % 5.42 % 5.53 % 5.04 % 1.89 % 5.20 % — — — Rate cap — — — — — — — — — — Instruments in CLP (25 ) 105 149 288 326 108 951 (341 ) 1,297 956 Floating rate (94 ) 64 (21 ) 3 329 97 378 — 381 381 Spread — 1.12 % (0.40 %) 26.86 % (0.80 %) 1.54 % 0.14 % — — — Fixed rate 69 41 170 285 (3 ) 11 573 (341 ) 916 575 Interest rate (1.64 %) 3.08 % 4.80 % 4.13 % 4.90 % 7.02 % 3.61 % — — — Rate cap — — — — — — — — — — Instruments in UFC — — — — — — — 254 (267 ) (13 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 254 (267 ) (13 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in PEN 175 31 70 — 62 133 471 241 226 467 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 175 31 70 — 62 133 471 241 226 467 Interest rate 4.26 % 5.28 % 5.10 % — 5.43 % 6.24 % 5.16 % — — — Rate cap — — — — — — — — — — Instruments in VAC 17 25 — 8 — 61 111 112 — 112 Floating rate 17 25 — 8 — 61 111 112 — 112 Spread 3.38 % 3.66 % — 3.50 % — 3.24 % 3.37 % — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in COP 799 117 16 62 70 129 1,193 246 952 1,198 Floating rate 80 15 5 41 36 97 274 269 9 278 Spread 0.41 % 2.89 % 9.33 % 4.27 % 5.25 % 3.82 % 3.12 % — — — Fixed rate 719 102 11 21 34 32 919 (23 ) 943 920 Interest rate 6.46 % 10.63 % 5.35 % 5.32 % 5.31 % 5.25 % 6.80 % — — — Rate cap — — — — — — — — — — Instruments in VEB (2 ) 1 — — — — (1 ) (3 ) — (3 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (2 ) 1 — — — — (1 ) (3 ) — (3 ) Interest rate 0.03 % 16.63 % — — — — (10.69 %) — — — Rate cap — — — — — — — — — — Instruments in MXN 68 40 117 37 43 287 592 427 177 604 Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Floating rate (8 ) 7 8 10 12 89 118 119 — 119 Spread (12.36 )% 6.01 % 6.08 % 5.78 % 6.14 % 5.26 % 6.61 % — — — Fixed rate 76 33 109 27 31 198 474 308 177 485 Interest rate 21.09 % 7.11 % 7.72 % 6.67 % 6.68 % 7.23 % 9.49 % — — — Rate cap — — — — — — — — — — Instruments in GTQ 1 — 18 — — — 19 19 — 19 Floating rate (8 ) — — — — — (8 ) (8 ) — (8 ) Spread 0.01 % — — — — — 0.01 % — — — Fixed rate 9 — 18 — — — 27 27 — 27 Interest rate 4.04 % — 4.00 % — — — 4.01 % — — — Rate cap — — — — — — — — — — Instruments in NIO (7 ) — — — — 6 (1 ) (1 ) — (1 ) Floating rate (7 ) — — — — — (7 ) (7 ) — (7 ) Spread 0.01 % — — — — — 0.01 % — — — Fixed rate — — — — — 6 6 6 — 6 Interest rate — — — — — 7.46 % 7.46 % — — — Rate cap — — — — — — — — — — Asia Instruments in JPY — — — — — — — 70 (77 ) (7 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 70 (77 ) (7 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — TOTAL 47,375 49,031 (505 ) 48,526 Floating rate 14,359 3,863 10,619 14,482 Fixed rate 32,903 45,055 (11,223 ) 33,832 Rate cap 113 113 — 113 Currency Options and Others (*) — — 99 99 (*) Amounts include in fixed rate The table below is an extract of the previous table that shows the sensitivity to interest rates originated by our position on interest rate swaps categorized into instruments entered into for trading purposes and instruments entered into for purposes other than trading at December 31, 2017: Interest rate swaps Millions of euros Maturity Non trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value EUR (134 ) Fixed to fix — — — — — — — 5 Receiving leg (190 ) (5 ) — (100 ) (75 ) — (370 ) (282 ) Average Interest Rate — — — — — — — — Paying leg 190 5 — 100 75 — 370 287 Average Interest Rate 0.52 % 0.85 % — 1.18 % 0.55 % — — — Fixed to floating — — — — — — — (1,010 ) Receiving leg (8,097 ) (5,861 ) (9,145 ) (7,282 ) (4,018 ) (6,262 ) (40,665 ) (22,668 ) Average Interest Rate 1.04 % 0.99 % 1.39 % 1.69 % 1.04 % 1.27 % 1.26 % — Paying leg 8,097 5,861 9,145 7,282 4,018 6,262 40,665 21,658 Average Spread 0.39 % 0.66 % 0.36 % 0.51 % 1.01 % — 0.44 % — Floating to fixed — — — — — — — 871 Receiving leg (5,868 ) (3,359 ) (4,985 ) (3,280 ) (359 ) (4,544 ) (22,395 ) (17,773 ) Average Spread 1.70 % 0.20 % — 0.02 % — — 0.48 % — Paying leg 5,868 3,359 4,985 3,280 359 4,544 22,395 18,644 Average Interest Rate 0.22 % 0.91 % 2.45 % 2.06 % 1.30 % 0.95 % 1.25 % — USD (3 ) Fixed to floating — — — — — — — (6 ) Receiving leg (639 ) (283 ) (283 ) (283 ) (534 ) (142 ) (2,164 ) (755 ) Average Interest Rate 1.45 % 1.40 % 1.52 % 1.61 % 1.73 % 3.47 % 1.68 % — Paying leg 639 283 283 283 534 142 2,164 749 Average Spread 0.62 % 1.52 % 1.61 % 1.68 % 0.92 % — 1.04 % — Floating to fixed — — — — — — — 3 Receiving leg (415 ) — — — (250 ) (142 ) (807 ) (808 ) Average Spread — — — — — — — — Paying leg 415 — — — 250 142 807 811 Average Interest Rate 2.87 % — — — 1.93 % 2.52 % — — GBP (50 ) Fixed to floating — — — — — — — (76 ) Receiving leg (676 ) (28 ) (23 ) (248 ) (524 ) — (1,499 ) (1,575 ) Average Interest Rate 1.63 % 2.25 % 2.36 % 1.76 % 3.27 % — — — Paying leg 676 28 23 248 524 — 1,499 1,499 Average Spread — — — — — — — — Floating to fixed — — — — — — — 26 Receiving leg (789 ) — (68 ) (169 ) (192 ) — (1,218 ) (1,219 ) Average Spread — — — — — — — — Paying leg 789 — 68 169 192 — 1,218 1,245 Average Interest Rate 1.38 % — 0.73 % 2.56 % 1.84 % — — — Interest rate swaps Millions of euros Maturity Trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value EUR 424 Fixed to fixed — — — — — — — 1 Receiving leg — (20 ) — — — — (20 ) (37 ) Average Interest Rate — — — — — — — — Paying leg — 20 — — — — 20 38 Average Spread — 0.85 % — — — — — — Fixed to floating — — — — — — — (88 ) Receiving leg (200 ) — — (500 ) — (1,100 ) (1,800 ) (1,881 ) Average Interest Rate 0.93 % — — 1.25 % — 1.24 % — — Paying leg 200 — — 500 — 1,100 1,800 1,793 Average Spread — — — — — — — — Floating to fixed — — — — — — — 511 Receiving leg (2,166 ) (1,371 ) (4,097 ) (1,102 ) (192 ) (5,270 ) (14,198 ) (10,610 ) Average Spread 0.43 % 1.25 % 0.05 % 0.03 % — — 0.20 % — Paying leg 2,166 1,371 4,097 1,102 192 5,270 14,198 11,121 Average Interest Rate 1.70 % 1.07 % 2.57 % 1.92 % 0.12 % 1.22 % 1.70 % — USD (918 ) Fixed to floating — — — — — — — (918 ) Receiving leg (1,371 ) (1,132 ) (1,779 ) (1,509 ) (1,235 ) (6,359 ) (13,385 ) (13,993 ) Average Interest Rate 1.19 % 3.45 % 3.02 % 3.44 % 1.83 % 3.21 % 2.90 % — Paying leg 1,371 1,132 1,779 1,509 1,235 6,359 13,385 13,075 Average Spread — — 0.22 % — — — 0.03 % — Floating to fixed — — — — — — — — Receiving leg — — — — — — — — Average Spread — — — — — — — — Paying leg — — — — — — — — Average Interest Rate — — — — — — — — MXN (4 ) Fixed to floating — — — — — — — 1 Receiving leg — — (127 ) — — — (127 ) (129 ) Average Interest Rate — — 7.90 % — — — — — Paying leg — — 127 — — — 127 130 Average Spread — — 0.41 % — — — — — Floating to fixed — — — — — — — (5 ) Receiving leg — — (127 ) — — — (127 ) (129 ) Average Spread — — 0.41 % — — — — — Paying leg — — 127 — — — 127 124 Average Interest Rate — — 6.67 % — — — — — GBP (216 ) Fixed to floating — — — — — — — (216 ) Receiving leg (563 ) — (789 ) — (563 ) (451 ) (2,366 ) (2,578 ) Average Interest Rate 1.43 % — 1.87 % — 3.51 % 3.42 % — — Paying leg 563 — 789 — 563 451 2,366 2,362 Average Spread — — — — — — — — Floating to fixed — — — — — — — — Receiving leg — — — — — — — — Average Spread — — — — — — — — Paying leg — — — — — — — — Average Interest Rate — — — — — — — — Millions of euros Maturity Trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value JPY — Fixed to floating — — — — — — — — Receiving leg (74 ) — — — — — (74 ) (74 ) Average Interest Rate 0.32 % — — — — — — — Paying leg 74 — — — — — 74 74 Average Spread — — — — — — — — CLP — Fixed to floating — — — — — — — (3 ) Receiving leg — (64 ) (7 ) (3 ) (3 ) (3 ) (80 ) (86 ) Average Interest Rate — 5.75 % 4.90 % 4.90 % 4.90 % 4.90 % 0.40 % — Paying leg — 64 7 3 3 3 80 83 Average Spread — 1.12 % 1.27 % 1.27 % 1.27 % 1.27 % 0.10 % — Floating to fixed — — — — — — — 3 Receiving leg (87 ) — (27 ) (134 ) — — (248 ) (247 ) Average Spread — — — — — — — — Paying leg 87 — 27 134 — — 248 250 Average Interest Rate 5.05 % — 3.31 % 3.26 % — — — — CHF (17 ) Fixed to floating — — — — — — — (17 ) Receiving leg (214 ) — (192 ) — (128 ) — (534 ) (549 ) Average Interest Rate 0.28 % — 0.95 % — 0.75 % — — — Paying leg 214 — 192 — 128 — 534 532 Average Spread — — — — — — — — BRL (7 ) Fixed to floating — — — — — — — — Receiving leg — — — — — — — — Average Interest Rate — — — — — — — — Paying leg — — — — — — — — Average Spread — — — — — — — — Floating to fixed (2 ) (1 ) — — — — (3 ) (7 ) Receiving leg (72 ) (38 ) — — — — (110 ) (110 ) Average Spread 2.00 % 1.55 % — — — — 1.85 % — Paying leg 70 37 — — — — 107 103 Average Interest Rate — — — — — — — — COP (1 ) Fixed to floating — — — — — — 2 1 Receiving leg (4 ) (8 ) (8 ) |
Appendix V_ Interest-Bearing De
Appendix V: Interest-Bearing Debt | 12 Months Ended |
Dec. 31, 2017 | |
Appendix V: Interest-Bearing Debt [Abstract] | |
Appendix V: Interest-Bearing Debt | Appendix III: Debentures and bonds The detail and key features of outstanding debentures and bonds at December 31, 2017 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 1,042 1,042 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,542 1,542 EMTN O2 GBP GBP 5.375 % 845 — — — — — 845 EMTN O2 GBP GBP 5.375 % — — — — — 563 563 TELEF EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,667 1,667 TELEF EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0.83000% — — — 55 — — 55 TELEF EMISIONES JANUARY 07 B EUR 1 x EURIBOR3M + 0.70000% 24 — — — — — 24 TELEF EMISIONES MAY 2014 EUR 2.242 % — — — — 1,250 — 1,250 TELEF EMISIONES JULY 15, 2019 USD 5.877 % — 834 — — — — 834 TELEF EMISIONES NOVEMBER 11, 2019 EUR 4.693 % — 1,750 — — — — 1,750 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — — — — 732 — 732 TELE EMISIONES APRIL 3 2010 USD 5.134 % — — 1,168 — — — 1,168 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 451 451 TELEF EMISIONES FEBRUARY 2011 USD 5.462 % — — — 1,251 — — 1,251 TELEF. EMISIONES FEBRUARY 2012 EUR 4.797 % 1,500 — — — — — 1,500 TELEF. EMISIONES FEBRUARY 2012 GBP 5.597 % — — 788 — — — 788 TELEF. EMISIONES JUNE 2013 JPY 4.250 % 74 — — — — — 74 TELEF. EMISIONES OCTOBER 2012 EUR 4.710 % — — 1,200 — — — 1,200 TELEF. EMISIONES DECEMBER 2012 CHF 2.718 % 213 — — — — — 213 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — — — — 128 — 128 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — — — — 1,500 1,500 Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total TELEF. EMISIONES MARCH 2013 EUR 3.961 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2013 USD 3.192 % 1,042 — — — — — 1,042 TELEF EMISIONES APRIL 2013 USD 4.570 % — — — — — 625 625 TELEF. EMISIONES MAY 2013 EUR 2.736 % — 750 — — — — 750 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES OCTOBER 2013 CHF 2.595 % — — 192 — — — 192 TELEF EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0.83% — — — — 67 — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2016 EUR 0.750 % — — — — 1,400 — 1,400 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 0.318 % — — 1,250 — — — 1,250 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1 x EURIBOR3M +0.40% — 150 — — — — 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,251 1,251 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,668 1,668 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 167 167 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 417 417 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 Telefónica Emisiones, S.A.U. 3,698 3,484 4,598 3,306 3,577 14,559 33,222 Exchangeable Bond MARCH 2016 (*) EUR — — — — 600 — — 600 Telefónica Participaciones — — — — 600 — — 600 Total Telefónica, S.A. and its instrumental companies 3,698 3,484 4,598 3,906 3,577 16,101 35,364 (*) Issue of non-dilutive cash-settled equity-linked bonds referenced to Telefónica share price, with a nominal amount of 600 million euros, issue price of 101.25% and maturing in March 2021. Foreign operators Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Bond Q CLP 5.750 % — 64 — — — — 64 Bond T CLP 4.900 % — — 13 26 — 26 65 144A Bond USD 3.875 % — — — — 417 — 417 Telefónica Chile, S.A. — 64 13 26 417 26 546 Bond F UF 3.600 % — — — — — 109 109 Bond G UF 2.200 % — — 73 — — — 73 Bond I UF 1.950 % — — 73 — — — 73 Bond K CLP 4.900 % — — — 128 — — 128 Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Telefónica Móviles Chile, S.A. — — 146 128 — 109 383 T. Finanzas Mex 0710 FIX MXN 8.070 % — — 83 — — — 83 Telefónica Finanzas México, S.A. — — 83 — — — 83 Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3.6250% — — — — — 22 22 Bond T. Peru 4th Program (12th Serie A) N. SOL VAC + 3.6875% — 21 — — — — 21 Bond T. Peru 4th Program (36th Serie B) N. SOL VAC + 3.3750% 17 — — — — — 17 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2.8750% — — — — — 17 17 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3.1250% — — — — — 16 16 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3.1875% — — — — — 7 7 Bond T. Peru 5th Program (22nd Serie Ab) N. SOL VAC + 3.5000% — 4 — — — — 4 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3.5000% — — — 8 — — 8 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — — — — 67 67 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.190 % — — — — — 31 31 Bond T. Peru 6th Program (12th Serie A) N. SOL 5.060 % — — 28 — — — 28 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — — — — 36 — 36 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.340 % — — — — 26 — 26 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.470 % — — — — — 34 34 Bond TM Peru 2nd Program (11th Serie B) N. SOL 7.375 % 15 — — — — — 15 Bond TM Peru 2nd Program (27th Serie A) N. SOL 5.531 % — 13 — — — — 13 Telefónica del Perú, S.A. 32 38 28 8 62 194 362 Nonconvertible bonds BRL 1.0 XCDI + 0.68% 328 — — — — — 328 Nonconvertible bonds BRL 1.0825 XCDI — — — 252 252 — 504 Nonconvertible bonds BRL 1.0 XCDI + 0.24% — — 252 — — — 252 Nonconvertible bonds BRL 1 XIPXA +4 — 10 — — — — 10 Nonconvertible bonds ( Telemig) I BRL IPCA + 0.5% 1 1 1 1 — — 4 Nonconvertible bonds ( Telemig) II BRL IPCA + 0.5% 2 2 2 2 — — 8 Nonconvertible bonds ( Telemig) III BRL IPCA + 0.5% 3 3 3 3 — — 12 Telefônica Brasil, S.A. 334 16 258 258 252 — 1,118 BOND R144-A USD 5.375 % — — — — 625 — 625 Colombia Telecomunicaciones, S.A, ESP — — — — 625 — 625 Bond EUR 1.875 % 600 — — — — — 600 Bond EUR 2.375 % — — — 500 — — 500 O2 Telefónica Deutschland Finanzierungs, GmbH 600 — — 500 — — 1,100 Total Outstanding Debentures and Bonds Foreign operators 966 118 528 920 1,356 329 4,217 Total Outstanding Debentures and Bonds 4,664 3,602 5,126 4,826 4,933 16,430 39,581 The main debentures and bonds issued by the Group in 2017 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 01/17/2017 01/17/2025 1,250 1,250 EUR 1.528 % EMTN Bond 01/17/2017 10/17/2028 500 500 EUR 2.318 % EMTN Bond 01/25/2017 01/25/2019 150 150 EUR EURIBOR 3M + 0.40% SHELF Bond 03/08/2017 03/08/2027 1,500 1,251 USD 4.103 % SHELF Bond 03/08/2017 03/08/2047 2,000 1,667 USD 5.213 % EMTN Bond (Retap) 03/17/2017 10/17/2028 200 200 EUR 2.318 % EMTN Bond 04/18/2017 04/18/2037 200 167 USD 4.900 % SHELF Bond (Retap) 04/28/2017 03/08/2047 500 417 USD 5.213 % EMTN Bond 09/12/2017 01/12/2028 1,250 1,250 EUR 1.715 % Telefónica Brasil, S.A. Debentures 02/08/2017 02/08/2022 2,000 504 BRL 108.25% CDI Debentures 11/27/2017 11/27/2020 1,000 252 BRL 100% CDI + 0.24% Appendix V: Interest-bearing debt The main financing transactions at December 31, 2017 and 2016 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2017 12/31/2016 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 153 USD 128 190 05/03/2011 07/30/2021 Structured Financing (*) 551 USD 460 635 02/22/2013 01/31/2023 Structured Financing (*) 446 USD 371 505 08/01/2013 10/31/2023 Bilateral (1) 1,500 EUR 1,500 1,500 06/26/2014 06/26/2019 Syndicated facility 2,500 EUR — 550 02/19/2015 02/19/2022 Bilateral (2) — EUR — 200 06/30/2015 12/29/2017 Structured Financing (*) 679 USD 566 324 12/11/2015 03/11/2026 Structured Financing (*) 469 EUR 423 240 12/11/2015 03/11/2026 Bilateral loan (3) — EUR — 100 02/23/2016 02/23/2017 Bilateral loan 100 EUR 100 100 02/23/2016 02/23/2021 Loan 300 EUR 300 300 03/08/2016 03/08/2021 Bilateral loan (4) 150 EUR 150 300 10/24/2016 03/19/2019 Credit 380 EUR 292 — 12/27/2002 12/27/2020 Credit 200 EUR 167 — 03/27/2013 03/14/2020 Telefónica Germany GmbH & Co. OHG Syndicated facility (5) 750 EUR — 50 03/22/2016 03/22/2022 EIB Financing — EUR 450 250 06/13/2016 06/13/2025 Telefónica Europe, B.V. Structured Financing (*) 750 EUR 750 — 11/28/2016 11/28/2024 ( 1) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (2) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (5) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount. |
Appendix VI_ Key Regulatory Iss
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about service concession arrangements [abstract] | |
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group | Appendix VI: Key regulatory issues and concessions and licenses held by the Telefónica Group Regulations As a digital telecommunications operator, the Telefónica Group is subject to sector-specific telecommunications regulations, general competition law and a variety of other regulations, including privacy and security, which can have a direct and material effect on the Group’s business areas. The extent to which regulations apply to the Telefónica Group depends largely on the nature of its activities in a particular country, with traditional fixed telephony services and fixed broadband usually subject to stricter regulations. In order to provide services and operate its networks and to use spectrum, the Telefónica Group must obtain general authorizations, concessions and/or licenses from the pertinent authorities in each country in which the Group operates (hereinafter referred to as national regulatory authorities or NRAs). The Group is also required to obtain radio frequency licenses for its mobile operations. This section describes the legislative framework and the recent legislative key developments in the most relevant countries and regions in which the Group has significant interests. Many of the legislative changes and the adoption of regulatory measures by sector-specific regulators which are described in this section are in the process of being adopted and, therefore, have not yet concluded. Electronic Communication Regulation in the European Union On September 14, 2016 the European Commission (EC) proposed a new framework for electronic communications (the European Electronic Communication Code), which will overhaul the existing one, in order to take into account changes in markets, trends and technologies; all of which have significantly changed since 2009 when the framework was last amended. The EC proposal is currently under a legislative process in the Parliament (EP), the Council and the EC that is expected to conclude with the adoption of the Code in the second quarter of 2018. Its provisions include measures to stimulate investment on very high capacity network (VHCN), new rules on spectrum (to improve investment certainty, coordination and harmonization within Europe) and changes to regulation on services, introducing more level playing field between telecom operators and new over-the-top-players (OTTs), as well as a to modernize Universal Service. However, the legislative work underway risks to worsen the EC proposal, watering down pro-investment measures and adding revenue-depressing measures on top (e.g.: regulation of intra-EU calls). Once approved, the Code will have to be transposed into national legislations. In each EU Member State a NRA is responsible for enforcing national telecommunications laws incorporating the EU framework. Companies may challenge the decisions of their NRAs before their domestic courts. Such legal proceedings may lead to a decision by the European Court of Justice or ECJ, which is the ultimate authority on the correct application of EU legislation. EU competition law The European Union’s competition rules have the force of law in all EU Member States and are, therefore applicable to the Telefónica Group’s operations in those countries. The Treaty for the functioning of the EU (TFEU) prohibits “concerted practices” and all agreements between entities that may affect trade between Member States and which restrict, or are intended to restrict, competition within the internal market. The TFEU also prohibits any abuse of a dominant competitive position within the EU, or any substantial part of it, that may affect trade between Member States. The EU Merger Regulation requires that all mergers, acquisitions and joint ventures involving participants meeting certain turnover thresholds be submitted to the EC for review, rather than to the national competition authorities. Under the amended EU Merger Regulation, market concentrations will be prohibited if they significantly impede effective competition in the EU common market. The EC is granted the authority to apply the EU competition framework. Similar competition rules are set forth in each EU Member State, with the corresponding national competition authorities overseeing compliance with these regulations. All the European countries in which the Telefónica Group operates and referred to below are Member States of the European Union. Recent developments Currently, the regulatory debate in the European Union is basically focused on the development of the Telecom Single Market (TSM) Package and the new European Digital Single Market (DSM) Strategy. Telecom Single Market EU Regulation 2015/2120 of the EP and of the Council of November 25, 2015, lays down measures basically concerning open internet access (Net Neutrality) and roaming on public mobile communications networks within the Union. • Roaming: Since June 15, 2017, operators have not been allowed to charge roaming users within the EU additional fees to their domestic prices for roaming calls, SMS and data services. However, in some circumstances, operators may still apply consumption limits and additional surcharge under a "fair use policy" or additional surcharges under the sustainability exemption. The regulation also limits any surcharge applied for receiving regulated roaming calls to the weighted average of maximum mobile termination rates across the European Union. On December 13, 2017, the fees were set at 0.0091€ per minute. The implementation of these measures could lead to an increase in both wholesale and retail traffic, the final impact of which may be assessed over the coming months, once the different traffic flows have stabilized. Additionally, in June 2017, wholesale roaming caps were approved by the EP and the maximum wholesale caps, applicable since June 15, 2017 have been set at the following limits: • 0.01€ /SMS; • 0.032€ /minute; • data services glide path: 7.7€ /GB (June – December 2017); 6€ /GB (2018); 4.5€ /GB (2019); 3.5€ /GB (2020); 3€ /GB (2021) and 2.5€ /GB (2022). • Net Neutrality: Under the principle of network neutrality applicable to Internet access services area, network operators are not permitted to establish technical or commercial restrictions regarding the terminals that can be connected or the services, or applications and contents that can be accessed or distributed through the Internet by the end user. It also refers to the non-discriminatory behavior (e.g. non-anticompetitive) to be adopted by operators regarding the different types of Internet traffic circulating through their networks. On August 30, 2016, the European Regulatory Authority ("BEREC") issued non-binding guidelines to the NRAs to monitor the application of the so-called "net neutrality and roaming Regulation" (EU Regulation 2015/2120). This guidance may directly impact Internet access service commercial practices (for example, some zero rating offers) and it may limit network management practices and increase transparency requirements on the Internet access services. Digital Single Market During 2016 and 2017 the EC issued many initiatives within the policy known as Digital Single Market which was adopted on May 6, 2015. Among the most relevant initiatives we can find the following: • Package of measures to boost the Connectivity in the Single Digital Market - towards the European Gigabit Society . • Network and Information Security: Directive 2016/1148 of the EP and of the Council of July 6, 2016 concerning measures for a high common level of security of network and information systems across the Union entered into force on August 9, 2016. Member States have 21 months to transpose this Directive into their national laws and 6 additional months to identify operators of essential services (traditional critical infrastructures). According to the Directive, the providers of essential facilities are obliged to take appropriate security measures and report incidents to the national authorities. • Content Package: • On May 25, 2016 the EC launched a proposal for a revised Directive on the provision of audiovisual media services. The proposal includes some specific obligations for video sharing platforms related with minor’s access to harmful content and those to protect citizens from hate speech and violence. Regarding the promotion of European productions, the rules have increased the minimum levels reserved to certain contents so that video-sharing platforms must reserve at least 20% of European productions to on-demand services. Moreover, Member States may impose financial contributions (direct investments or levies allocated to national funds) to on-demand services established in a different Member State but targeting national audiences. • On June 14, 2017, EU Regulation 2017/1128 of the EP and of the Council on cross-border portability of online content services was adopted. It will enter into force on July 20, 2018 and seeks to ensure that subscribers to online content services provided in their Member States of residence are able to access these services and use them when they are temporarily in other Member State which is not their Member State of residence. • The Geo-Blocking Regulation proposed by the EC in May 2016 as part of the Digital Single Market tries to limit geographically-based restrictions which undermine online shopping and cross-border sales. In November 2017, the three European Institutions agreed on a Proposal for a Regulation to end unjustified geoblocking, a proposal which has to be confirmed by the plenaries of the EP and the Council of the EU. The final text has reached an agreement on some of the controversial points; in particular, copyright protected non-audiovisual content ended up being left out of the scope of the Regulation. This outcome is a positive result for rights holders and for pay TV services industries. The Regulation will enter into force nine months after its publication and two years thereafter the text will be revised by the EC to evaluate whether or not copyright protected content will be included under the scope. • Copyright Package: The EC presented a legislative package proposal in September 2016. Regarding the Cable and Satellite Proposal Regulation the proposal contains two main rules: • to allow broadcasters that offer across borders online services that are ancillary to their broadcasting (catch up and simulcasting) to do so by clearing rights only in the Member State where they have their principal establishment (so-called “country of origin principle/ COP); and • to extend the mandatory collective management of cable retransmission rights to other closed networks (as opposed to the open Internet), such as IPTV. All right holders, with the exception of broadcasters, would only exercise their retransmission rights through the mandatory collective administration regimen. The EP and the Council have adopted their respective positions on the proposed Regulation and will start trilogue discussions (between the EC, the EP and the Council) early 2018. The Regulation could be adopted by June 2018. Regarding the Copyright Directive proposal, the main issues addressed therein are a further capacity of choice and access to online content and cross-border access. The proposal extends the scope of application of some exceptions and limitations in the fields of education, text and data mining for scientific research, cultural heritage and to improve a sustainable and a better balanced contractual relationship between authors and industries. It also requires certain online content platforms to take certain technological measures (including content recognition technologies) in favor of certain online intermediaries in order to prevent access to copyright infringing content. In relation with Data Protection & Privacy, the new General Data Protection Regulation (GDPR) of April 27, 2016, will be directly applicable in all member States in Europe from May 25, 2018. The GDPR introduces administrative fines of up to 4% of an undertaking’s annual global turnover for breaching the new data protection rules. On January 10, 2017, the EC put forward its proposal for a Regulation on ePrivacy, which will replace the current Directive 2002/58/EC on privacy in the electronic communications sector and will complement the GDPR. The EC proposal also introduces administrative fines of up to 4% of an undertaking’s annual global turnover. The future ePrivacy Regulation is not expected to be adopted before end-2018. On the other hand, the EC adopted a decision on Privacy Shield on July 12, 2016, which considers that there is an adequate level of protection of personal data transferred from the EU to US self-certified companies complying with the Privacy Shield principles. The Privacy Shield has been challenged before the EU´s General Court by civil-society groups, but the admission of their appeals is still pending. After consulting with industry agents, NGOs and data protection national authorities, the EC completed on October 18, 2017 its first annual review on the performance of the Privacy Shield. The EC considers that the Privacy Shield continues to ensure an adequate level of data protection for personal data of European citizens being transferred to Privacy Shield-compliant companies in the US. Telefónica USA, Inc. has self-certified itself as Privacy Shield compliant. Regarding spectrum, on December 14, 2016, the three European institutions reached an agreement on how to coordinate the use of the 700 MHz band facilitating the introduction of 5G as of 2020. The 700 MHz band should be assigned to mobile operators and made available for wireless broadband use by June 30, 2020, at the latest, in all EU Member states. Duly justified exceptions on grounds defined in Decision 2017/899/CE are allowed until June 30, 2022. Member States are expected to adopt and make public their national plans for releasing this band by June 30, 2018. Spain General regulatory framework The legal framework for the regulation of the telecommunications sector in Spain is governed by the General Telecommunications Law (9/2014) of May 9. The main modifications of this Law compared to the previous one were the reduction of administrative burdens to boost networks deployments, as well as the adoption of complementary measures for boosting investment in telecommunications sector. The Market and Competition National Commission, or CNMC, created by the Law 3/2013, assumed in 2013 its role as telecommunications and audiovisual service regulator in Spain. This organism is also the competition authority in Spain and the national regulatory authority for transport, postal services and energy. The main licenses and concessions held by Telefonica in Spain are listed at the end of this Appendix VI under the title “Main concessions and licenses held by the Telefónica Group”. Market analysis The obligations imposed by the national regulator in the most relevant markets in which Telefónica is deemed to have Significant Market Power (SMP) are detailed below. Fixed markets Wholesale fixed access and call origination market On January 17, 2017, the CNMC approved the definition and the analysis of the market for access and call origination on fixed networks. Considering that Telefónica has SPM, the CNMC imposed specific obligations to Telefónica regarding the provision of origination services, preselection and wholesale access service to the telephone line on a cost-oriented production, and regarding the implementation of an accounting system. Telefónica was imposed, among others, the obligation of no discrimination, transparency and separation of accounts. Fixed call termination market on individual networks In October 2014, the CNMC carried out a market analysis in terminated fixed networks, and concluded that every single provider, including Telefónica de España, are dominants in terminating fixed networks and, as a consequence, are obliged to provide the terminating service applying cost-orientation and non-discrimination obligations to the rest of operators, according to a purely incremental costs model. In fixed call termination market on IP networks, Telefónica de España is required to submit an “Interconnection Reference Offer” (IRO). Mobile market Mobile network call termination In May 2012, the CNMC established the wholesale price at 0.0109 €/minute as from July 2013. In July 2017, the NRA initiated the proceeding for the market analysis through a public consultation. Afterwards, in November 2017, the CNMC submitted to the EC its proposal on new mobile termination rates (MTRs) for all mobile operators, set at 0.0064 €/min as from January 2020 ( 0.0070 €/min as between its entering into force and December 31, 2018 and at 0.0066 €/min during the year 2019), which entails a decrease of 40% in comparison with the current levels. A final decision was adopted in January 2018 setting the rate at 0.0067 €/min during the year 2019. Mobile Virtual Network Operators In April 2017, the CNMC adopted a Decision considering that the access services and origination in public mobile telephone networks market is a competitive market and abolishing the current obligations applicable to Mobile Virtual Network Operators (MVNOs). Wholesale (physical) to network infrastructure access and wholesale broadband access In February 2016, the CNMC adopted a Resolution which established the elimination of the 30 Mbps limit and the incorporation of geographical segmentation to the regulation for the residential customers, so that Telefónica is not obliged to offer wholesale broadband services access (bitstream) in the most competitive areas ( 66 cities). In this sense, Telefónica de España is only obliged to offer its wholesale broadband access services (bitstream) for residential segment in non-competitive areas. The price of fiber wholesale access services is calculated under a model of economic replicability of Telefónica's retail offerings in the residential and business segments. The price of access services to the copper network is cost oriented. For the business segment, the Resolution requires Telefónica de España to offer its wholesale broadband access services both on the copper and fiber network, throughout the national territory. It is anticipated that this Resolution will last for at least four years. Its implementation is expected to result in a moderate increase of the current regulatory obligations of Telefónica in Spain, due to the mandatory granting of access to other operators to its fiber network, and due to certain aspects relating specifically to the business segment (high quality bitstream service for business customers with national coverage). This Resolution has been appealed by Telefónica de España. On January 18, 2017, the CNMC adopted a Resolution which approved the reference offer of the new wholesale unbundled virtual access service to Telefónica's new broadband Ethernet service (local NEBA). NEBA services are expected to allow alternative operators more flexibility to structure their retail offers over Telefónica´s fiber network. On December 29, 2017, a draft measure on the economic replicability methodology to be used to assess the maximum wholesale access price which Telefónica could charge to other operators for accessing the optical fiber network in regulated areas (NEBA Local and NEBA services), was notified to the EC establishing a maximum wholesale access price of 16.38 €/month. The final decision is expected within the current first quarter of 2018. In June 2017, CNMC launched a public consultation on the methodology to analyze if Telefónica´s business offers can be replicated by other operators. The final decision is not expected before mid-2018. Universal service obligations Telefónica de España has been designated the operator responsible for the provision of the connection to the public electronic communications network for a three -year maximum period (January 1, 2017 - December 31, 2019), with the possibility of establishing broadband data connection with a descending speed no less than 1 Mbit per second, and the provision of the public telephone service available from a fixed location. In addition, Telefónica de España was also designated the operator responsible for the preparation and delivery of public telephone directories to the telephone subscribers for one-year period (January 1 - December 31, 2017), Telefonica Telecomunicaciones Públicas, S.A.U. has been designated as the operator responsible for the provision of a sufficient supply of public payphones for one-year period (January 1 - December 31, 2017). In both, cases, there have been an extension for the provision of directories and pay phones and their provision will remain in force within the scope of Universal Service until December 31, 2018, by Telefónica de España S.A.U. Contribution to RTVE funding In August 2009, the Radio and Television Corporation Finance Law ( Ley de Financiación de la Corporación de Radio y Television Española ) was approved establishing that: (i) telecommunication operators which operate nationwide or at least in more than one region, have to pay a fixed annual contribution of 0.9% of the invoiced operating income of the year (excluding the revenues of the wholesale reference market), and (ii) the concessionaire companies and providers of TV services which operate nationwide or at least in more than one region have to pay an annual fixed contribution to the RTVE funding as follows: (a) 3% on the gross revenue of the year for open concessionaire companies or TV services providers, and (b) 1.5% on the gross revenue of the year for concessionaire companies to provide Pay TV services. Contributions made to the funding of RTVE were appealed by Telefónica España and Telefónica Móviles España. The proceedings are currently on hold waiting for the ruling on (i) a prejudicial question submitted by the National High Court to the Court of Justice of the European Union, and (ii) also on an unconstitutionality question submitted to the Spanish Constitutional Court regarding compliance of the underlying law with the European legislation and the Spanish Constitution. Acquisition of Distribuidor Oficial de Televisión, S.A. (DTS) The Resolution the CNMC of April 22, 2015 authorized the acquisition of the exclusive control of DTS (Distribuidor Oficial de Televisión, S.A.) by Telefónica de Contenidos, S.A.U. As a result of such authorization, the new entity assumed a set of commitments for a five-year period, which briefly are: i) the obligation to make available a wholesale offer of channels with premium content, that allows the replicability of Telefónica retail Pay TV offer; ii) the prohibition of including a period of permanence clause in contracts for Pay TV packages; iii) the prohibition of attract DTS customers for a period of two months; iv) the obligation to keep at least three international routes uncongested with three Internet Connectivity Providers; and v) the prohibition of formalizing exclusive contracts exceeding three years with content providers. Germany General regulatory framework The European Union legislative framework was implemented in Germany at the end of June 2004, by the approval of Telecommunications Act (Telekommunikationsgesetz). Following the adaptation of the 2009 EU Telecom Package, the Telecom Act has been repeatedly amended over the last years. The national regulatory authority responsible for regulation of electronic communication networks and services is the Bundesnetzagentur, or BNetzA. At the end of July 2016, the Act for better information exchange when combating international terrorism entered into force. This act inter alia amends article 111 TKG, which rules which customer data need to be collected and stored prior to access activation. The main licenses and concessions held by Telefónica in Germany are listed at the end of this Appendix VI under the title “Main concessions and licenses held by the Telefónica Group”. Spectrum In Germany, regarding its process to provide new frequencies for the further development of digital infrastructures the regulatory agency for electricity, gas, telecommunications, post and railway (BNetzA) published a paper on the key elements in June 2017 and, at the same time, initiated a procedure for determining the frequency demand for nationwide assignments in the 2 GHz and the 3.6 GHz bands ( 3.6 GHz is the official wording of BNetza when referring to 3.4-3.8 GHz). Among other things, for the 2 GHz band, BNetzA proposed the joint award of the frequencies expiring at the end of 2020 and 2025 and indicated that, following the merger of Telefónica Deutschland and E-Plus, it does not intend to withdraw any rights of use allocated to Telefónica Deutschland before their expiration (2020 and 2025, respectively). For the 3.6 GHz band, regional assignments for a part of the frequencies are provided for in the paper, as well as mutual co-usage rights between national and regional assignments. Additionally, it also foresees a demand-based supply with 5G. The procedures to auction both bands could begin in 2018 or 2019. The Telefónica Deutschland Group submitted its request for frequencies by the imposed deadline of September 30, 2017 and commented on the key elements. The final determination of the frequency demand and the first draft decisions in this regard are expected in the first quarter of 2018. For frequencies above 24 GHz, BNetzA intends to initially develop an application process in the frequency band of 26 GHz. The transparency regulation promulgated by BNetzA enters into force The legal regulation with measures to increase transparency in telephone and internet services in the mobile and fixed-line segments, which was issued by BNetzA to strengthen consumers´ rights, largely entered into force on June 1, 2017. The remaining provisions came into force on December 1, 2017. Among other things, the regulation includes provisions on cost control, the review and documentation of contractually agreed data transfer rates, and the provision of information on contract content to customers prior to conclusion. Market reviews Mobile termination rates (MTR) The MTR of 0.0166 €/minute expired end of November 2016. By means of a decision dated March 6, 2017, BNetzA approved the final mobile termination rates (MTR), which had been provisionally approved on November 30, 2016. From December 1, 2016, the rates of 0.011 €/minute were validated. The rates dropped to 0.0107 €/minute on December 1, 2017 and, as of December 1, 2018, the rates will further drop to 0.0095 €/minute. These rates were symmetrically approved for all mobile operators. They are effective until November 30, 2019. The rates were approved on the basis of pure Long Run Incremental Costs (LRIC), which is the new cost model for the calculation of MTRs. Fixed termination rates (FTR) The FTR of 0.0024 €/minute expired at the end of December 2016. For the period thereafter, BNetzA provisionally approved rates of 0.0010 €/minute in its decision dated January 25, 2017 and confirmed them in its decision dated October 20, 2017. The rates are symmetrical for all regulated fixed network operators for the period from January 1, 2017 to December 31, 2018. The rates for Telekom Deutschland were finally approved in July 2017 and the rates for all other fixed network operators, including the Telefónica Deutschland Group, were set based on a comparison with those rates of Telekom Deutschland. BNetzA initiates consultation and market studies on fibre optic infrastructures On March 14, 2017, BNetzA initiated a consultation process entitled “Issues in rate regulation for FttH/B-based wholesale products with a view to the development of fibre optic infrastructures capable of high performance”. The study investigates how the accelerated development of fibre optic networks can be supported by regulations. The consultation deals with the rate-related aspects of regulation. The future regulation could result in a departure from the current cost-based regulation. Any changes to the current regulatory standard are expected by the end of 2018 at the earliest. In a parallel process, BNetzA initiated a market study on the requirements for regulation and the existence of SMP relating to the so-called 3a markets (wholesale local access provided at a fixed location) and 3b markets (wholesale central access provided at a fixed location for mass-market products). The key aspect of this study is whether FttH/B-based wholesale products will continue to be assigned to the nationwide connection market in which copper-based connections and cable-based connections can also be found. This study is a pre-requisite for any rate regulation. Initial decisions will be adopted in the second quarter of 2018 at the earliest. Introduction of a regulated wholesale product “Super Vectoring” by Telekom Deutschland Telekom Deutschland AG (Telekom) has announced that it expects to expand its product offering as part of the regulated wholesale service “Bitstream Access” through “Super Vectoring” connections from August 2018. This would significantly increase the potential bandwidth of very-high-bit-rate digital subscriber line (VDSL) connections compared with today. Telekom is required to offer competitive prices on the wholesale service market; however, it is not yet known what these prices are. The Telefónica Deutschland Group expects to improve its competitive position in the fixed line market as a result of this product. United Kingdom General legislative framework The EU Regulatory Framework was implemented in the United Kingdom by the Communications Act in 2003. The Office of Communications, or Ofcom, is designated as the NRA responsible for the regulation of electronic communications networks and services. The main licenses and concessions held by Telefonica in the United Kingdom are listed at the end of this Appendix VI under the title “Main concessions and licenses held by the Telefónica Group”. Wholesale price regulation Following a market review, mobile termination rates for all mobile providers, including the four national mobile communications operators (Vodafone, Telefónica United Kingdom, EE and H3G) are subject to controls based on the pure long-run incremental cost (pure LRIC) approach. The present mobile wholesale termination rate is 0.495 ppm. Ofcom is proposing to reduce those rates by 10% over a three-year period commencing on April 1, 2018. Spectrum Telefónica United Kingdom has an obligation in its 800 MHz spectrum license to provide indoor coverage to 98% of the United Kingdom population (and 95% of the populations of each of England, Wales, Scotland and Northern Ireland) and an obligation in its 900 / 1800 MHz spectrum license to provide voice and text services to 90% of the UK landmass, both by the end of 2017, to be maintained, thereafter. Telefónica United Kingdom continues to invest in its infrastructure improvement program, upgrading its 2 G and 3 G Networks and continued roll-out of its 4 G Network. Telefónica United Kingdom is in the process of providing information to the UK's regulatory authority, Ofcom, to demonstrate its compliance with the obligations mentioned above. In a decision dated July 11, 2017, Ofcom proposed to auction 2.3 GHz spectrum (which is available for "immediate use") and 3.4 GHz spectrum (which may be used for 5 G services), subject to two competition measures. These measures set forth two separate spectrum caps: a spectrum cap of 255 MHz of immediately usable spectrum and an overall cap of 340 MHz. That decision was appealed by both BT/EE and H3G. Both appeals were rejected in a ruling dated December 20, 2017. H3G tried to appeal the decision to the Court of Appeal and a hearing took place on February 13, 2018. The appeal was refused and the litigation ended. Therefore, the auction can now proceed without delay. Telefónica United Kingdom expects the bidding to start in March 2018. Brazil General legislative framework The delivery of telecommunications services in Brazil is subject to regulation under the regulatory framework provided in the General Telecommunications Law enacted in July 1997. The National Agency for Telecommunications ( Agência Nacional de Telecomunicações or ANATEL), is the principal regulatory authority for the Brazilian telecommunications sector. Brazilian competition regulation is based on Law No. 12529 of November 30, 2011. The Administrative Council for Economic Defense, or CADE, is the agency in charge of enforcing the competition rules. The antitrust law establishes a pre-merger notification regime for concentration transactions, with new turnover thresholds ( one par |
Annex 1
Annex 1 | 12 Months Ended |
Dec. 31, 2017 | |
Annex 1 [Abstract] | |
Annex 1 | Basis of presentation of the consolidated financial statements The accompanying consolidated financial statements were prepared from the accounting records of Telefónica, S.A. and of each of the companies comprising the Telefónica Group, whose separate financial statements were prepared in accordance with the generally accepted accounting principles prevailing in the various countries in which they are located, and for purposes of these consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). These consolidated financial statements give a true and fair view of the consolidated equity and financial position at December 31, 2017 , and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended, which for the purposes of the Telefónica Group are not different from those adopted by the European Union. The euro is the Group’s reporting currency. The figures in these consolidated financial statements are expressed in millions of euros, unless otherwise indicated, and therefore may be rounded. The accompanying consolidated financial statements for the year ended December 31, 2017 were approved by the Company’s Board of Directors at its meeting on February 21, 2018 for submission for approval at the General Shareholders’ Meeting, which is expected to occur without modification. Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements. Materiality criteria These consolidated financial statements do not include certain information or disclosures that, not requiring presentation due to their qualitative significance, have been determined as immaterial or of no relevance pursuant to the concepts of materiality or relevance defined in the IFRS conceptual framework, insofar as the Telefónica Group’s consolidated financial statements, taken as a whole, are concerned. Recognition of Telefónica’s operation in the United Kingdom On March 24, 2015, Telefónica, S.A. reached an agreement with Hutchison Whampoa Group for the acquisition of Telefónica’s operations in United Kingdom. In accordance with IFRS 5, companies under the sale agreement were classified as a disposal group held for sale at that date, and their operations qualified as discontinued operations in the consolidated financial statements for the year ended December 31, 2015. On May 11, 2016 the European Commission made public its decision to prohibit the transaction. Following the submission of the consolidated financial information of the second quarter of 2016, Telefónica’s operations in United Kingdom were no longer presented as discontinued operations and their assets and liabilities ceased to be classified as held for sale. Thus, items are presented line by line in the consolidated financial statements. Accordingly, the comparative figures for 2015 were amended in the consolidated financial statements for the year ended December 31, 2016 with respect to those published in the consolidated financial statements for the year ended December 31, 2015. Comparative information and main changes in the consolidation scope For comparative purposes, the accompanying consolidated financial statements for 2017 include the figures for 2016 , and in the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows, and the notes thereto for the year then ended, they also include those of 2015 . The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2017 and 2016 (see Appendix I for a detail of the consolidation scope and the changes during the year) are as follows: a) Capital increase in Coltel, termination of the operating agreement with the PARAPAT and arbitration award Colombia Telecomunicaciones, S.A. E.S.P. (Coltel) is a company in which Telefónica holds a 67.5% stake and the Colombian Government the remaining 32.5% (see Note 21.c). On August 29, 2017, the shareholders' meeting of ColTel approved: • a capital increase for an aggregate amount of 4,800,966 million Colombian pesos (capital and premium), 1,384 million euros at the exchange rate of the relevant transaction date, so that Coltel would voluntarily pre-pay the entire amount of ColTel's debt derived from the operating agreement dated August 13, 2003 with Patrimonio Autónomo Receptor de Activos de la Empresa Nacional de Telecomunicaciones (the "PARAPAT"). The Telefónica Group and the Colombian Government subscribed the PARAPAT-Capital Increase pro rata to their respective shareholding in ColTel (see Note 12.h). The Telefónica Group disbursed 3,240,652 million Colombian pesos, 934 million euros at the exchange rate of the relevant transaction date. The Government assumed 32.5% of ColTel's payment obligations with the PARAPAT. The PARAPAT capital Increase was subscribed on September 26, 2017, and on September 27, 2017 ColTel pre-paid all of its debt with the PARAPAT (see Note 22), acquiring the ownership of the assets related to PARAPAT. As part of the early termination of the operating agreement with the PARAPAT, Coltel acquired control (see Note 5) of the companies Empresa de Telecomunicaciones de Telebucaramanga S.A. ESP (“Telebucaramanga”), Metropolitana de Telecomunicaciones S.A. ESP (“Metrotel”) and Operaciones Tecnológicas y Comerciales S.A.S. (“Optecom”), for a combined total of 509,975 million Colombian pesos (approximately 147 million euros at the date of the transaction). • a capital increase for an aggregate amount of 1,651,012 million Colombian pesos (capital and premium), 470 million euros at the exchange rate of that date. The proceeds from the Arbitration Award-Capital Increase were used to pay the entire amount set forth in the arbitration award issued in the arbitration proceedings initiated by the ITC in connection with its intention to revert certain assets earmarked for the provisions of mobile voice services under former concessions (see Note 6 and Appendix VI). The Telefónica Group and the Colombian Government subscribed the Arbitration Award-Capital Increase pro rata to their respective shareholding in ColTel. The Telefónica Group disbursed 1,114,433 million Colombian pesos, 317 million euros at the exchange rate of the relevant transaction date. The Colombian Government assumed, and consequently offset, a portion of ColTel's indebtedness. b) Individual Suspension Plan In 2015 Telefónica de España, S.A.U., Telefónica Móviles España, S.A.U. and Telefónica Soluciones de Informática y Comunicaciones de España, S.A.U. signed the 1st Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. This agreement considered, among other elements, a plan of measures for individual suspension of the employment relationship in 2016 and 2017, applying principles of voluntariness, universality, non-discrimination and social responsibility. In December 2016, the Collective Agreement of Related Companies was extended until 2018, by virtue of the provisions of this same agreement. The expense relating to the present value of the payment flows to meet the commitments resulting from the extension of this program was recognized in 2016. A total of 789 million euros was recorded for the Individual Suspension Plan in 2016 ( 2,896 million euros in 2015 ). The provision was updated as of 31 December 2017 according to the present degree of adhesion of the Plan, which, together with the updated termination plans, entailed an expense of 165 million euros in the 2017 consolidated income statement (see Note 15). c) Sale of 24.8% and 15.2% of the total share capital of Telxius Telecom, S.A. (Telxius) On October 24, 2017, Telefónica transferred 62 million shares of Telxius (representing 24.8% per cent of its share capital) to Taurus Bidco S.à.r.l. (hereafter, ”KKR”, an entity managed by Kohlberg Kravis Roberts & Co. L.P.) in exchange for 790.5 million euros. On November 13, 2017 KKR exercised a call option over 38 million shares of Telxius (representing 15.2% of its share capital) in exchange for 484.5 million euros (see Note 5). Following the closing of this sale of 15.2% of the share capital of Telxius, in December 2017, together with the 24.8% of the share capital acquired in October, the total stake of KKR is 40% of the share capital of Telxius in exchange for an aggregate amount of 1,275 million euros (see Note 20). These transactions had no impact on the consolidated results of the Telefónica Group as it consisted of the sale of minority interests, with Telefónica retaining control over Telxius. The impact of these transactions in equity attributable to equity holders of the parent was an increase of 570 million euros in retained earnings and a decrease of 9 million euros in translation differences. In addition, there was an increase in equity attributable to non-controlling interests amounting to 690 million euros (see Note 12). d) Translation of Telefónica Venezolana’s financial statements Venezuela has been considered a hyperinflationary economy since 2009. The Bolivar (VEF) is the functional currency of the Venezuelan subsidiaries. We review on a regular basis the economic conditions in Venezuela and the specific circumstances of our Venezuelan operations. Assessment of the exchange rate that better reflects the economics of Telefónica’s business activities in Venezuela relies on several factors and is performed considering all the information available at each closing date. Over the year 2017, the economic and political crisis in Venezuela deepened, bringing a substantial increase in inflation rates. However, the official exchange rate has not followed the change in inflation, and therefore is not representative of the value of the local currency as it does not reflect its real loss in purchasing power. On May 2017, the Government issued a new Exchange Agreement that established a foreign currency auctions system with monitored fluctuating bands, although no new currency auctions have been called since August 2017. In January 2018, the Government issued a new Exchange Agreement establishing a new auctions mechanism where the foreign currency offer will mainly come from the private sector and eliminating the currency protection system ("DIPRO"). The exchange rate resulting in the first currency auction was 30,988 VEF/EUR (equivalent to 25,000 VEF/USD). The structural weaknesses of this exchange mechanism (lack of depth and transparency) suggest there will remain a significant departure between official exchange rates and inflation. In light of this economic reality and in the absence of official rates that are representative of the situation in Venezuela, in 2017 the Group considers the need to estimate an exchange rate that matches the progression of inflation in Venezuela and contributes to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements in a more accurate way (hereinafter, synthetic exchange rate). For these purposes, the calculation method consists of using a representative exchange rate as a starting point, when official exchange rates, existing alternative exchange rates and those rates calculated by using macroeconomic methodologies were more aligned, and restating it for inflation, using the inflation rates applied by the Group to Venezuela ( 2,874.1% for year 2017, 511.1% for year 2016). The exchange rate used to translate the financial statements of the Venezuelan subsidiaries as of December 31, 2017 resulting from the described calculation methodology amounts to 36,115 VEF/USD. As of December 31, 2017, the SIMADI DICOM exchange rate, used by Telefónica in prior periods, amounted to 3,345 VEF/USD. The financial result resulting from the hyperinflation adjustment to the net monetary position and from the exchange differences arising from foreign currency items held by Telefónica Venezolana amounted to 84 million euros in 2017 ( 299 million euros in 2016), see Note 16. The following table presents the contribution of Telefónica Venezolana to certain items of the consolidated income statement, statement of cash flows and statement of financial position of the Telefónica Group for 2017, applying the synthetic exchange rate: Million euros Contribution of Telefónica Venezolana to the consolidated financial statements of the Telefónica Group Revenues 106 Operating income before depreciation and amortization (OIBDA) 34 Depreciation and amortization (103 ) Profit before tax 9 Net result (129 ) Other comprehensive income (movement of translation differences, see Note 12.f) (328 ) Net cash flow provided by operating activities 35 Capital expenditures (CapEx) 9 Non-current assets 295 Given that Venezuela is considered a hyperinflationary economy, the financial statements are adjusted for inflation (see Note 3.a), with the most significant impact being the adjustment of non-current assets by the inflation index. The difference between the profit before tax and the net result corresponds to the deferred tax recognized (see Note 17) for the inflation adjustments of the net assets, which are not deductible according to the present tax regime in Venezuela. At December 31, 2017, the SIMADI/DICOM exchange rate is 10.8 times the synthetic exchange rate. As mentioned above, the official exchange rate resulting from the new Exchange Regime issued in January 2018 is closer to the synthetic exchange rate estimated by Telefónica. For illustrative purposes, if the Telefónica Group had used the SIMADI/DICOM exchange rate, the figures of the above table would have been impacted proportionally by this difference in the exchange rates, except for other comprehensive income, which would have increased the net equity due to the movement of translation differences. ANNEX 1 BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS Acronym State AC Acre AL Alagoas AP Amapá AM Amazonas BA Bahia CE Ceara DF Distrito Federal ES Espírito Santo GO Goiás MA Maranhão MT Mato Grosso MS Mato Grosso do Sul MG Minas Gerais PA Pará PB Paraíba PR Paraná PE Pernambuco PI Piauí RJ Rio de Janeiro RN Rio Grande do Norte RS Rio Grande do Sul RO Rondônia RR Roraima SC Santa Catarina SP São Paulo SE Sergipe TO Tocantins Regions States & towns included in the regions 1 SP (City) 2 SP (Interior) 2' SP - towns of sector 33 of the GPLG 3 RJ y ES 4 MG 4' MG - towns of sector 3 of the GPLG 5 PR y SC 5' PR - towns of sector 20 of the GPLG 6 RS 6' RS - towns of sector 30 of the GPLG 7 AC, DF, GO, MS, MT, RO y TO 7' GO - towns of sector 25 of the GPLG 8 AM, AP, MA, PA y RR 9 BA y SE 10 AL, CE, PB, PE, PI y RN Sectors GPLG - general plan of the licenses granted (geographic areas that correspond to the sectors) 1 RJ 2 MG - except towns included in sector 3 3 MG - towns of Araporã, Araújo, Campina Verde, Campo Florido, Campos Altos, Canálopis, Capinópolis, Carmo do Paranaíba, Carneirinhos, Centralina, Comendador Gomes, Conceição das Alagoas, Córrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhatã, Ibiraci, Igaratinga, Iguatama, Indianópolis, Ipiaçú, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Pará de Minas, Patos de Minas, Pedrinópolis, Pequi, Perdigão, Pirajuba, Pitangui, Planura, Prata, Presidente Olegário, Rio Paranaíba, Santa Juliana, Santa Vitória, São Francisco de Sales, São José da Varginha, Tupaciguara, Uberaba, Uberlândia, União de Minas & Vazante 4 ES 5 BA 6 SE 7 AL 8 PE 9 PB 10 RN 11 CE 12 PI 13 MA 14 PA 15 AP 16 AM 17 RR 18 SC 19 PR –except towns included of sector 20 20 PR – towns of Londrina and Tamarana 21 MS – except the town integrating of sector 22 22 MS – town of Paranaíba 23 MT 24 TO y GO – except towns included in sector 25 25 GO – towns of Buriti Alegre, Cachoeira Dourada, Inaciolândia, Itumbiara, Paranaiguara and São Simão 26 DF 27 RO 28 AC 29 RS 30 RS – towns of Pelotas, Capão do Leão, Morro Redondo and Turuçu 31 SP – except the towns included in sector 33 33 SP – towns of Altinópolis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, Cássia dos Coqueiros, Colômbia, Franca, Guaíra, Guará, Ipuã, Ituverava, Jardinópolis, Miguelópolis, Morro Agudo, Nuporanga, Orlândia, Ribeirão Corrente, Sales de Oliveira, Santa Cruz da Esperança, Santo Antônio da Alegria and São Joaquim da Barra ANNEX 2 Mexico spectrum portofolio: meaning of the region numbers Region 1 Baja California: Baja California, Baja California Sur, Sonora (San Luis Río Colorado). Region 2 Sinaloa, Sonora (excluding San Luis Río Colorado). Region 3 Chihuahua, Durango, Coahuila de Zaragoza (Torreón, San Pedro, Matamoros, Francisco I. Madero, Viesca). Region 4 Nuevo León, Tamaulipas, Coahuila de Zaragoza (excluding municipalities of the North Region). Region 5 Chiapas, Tabasco, Yucatán, Quintana Roo, Campeche. Region 6 Jalisco (excluding municipalities of the Central Region), Michoacán de Ocampo, Nayarit, Colima. Region 7 Guanajuato, San Luis Potosí, Zacatecas, Querétaro de Arteaga, Aguascalientes, Jalisco (Lagos de Moreno, Encarnación de Díaz, Teocaltiche, Ojuelos de Jalisco, Colotlán, Villa Hidalgo, Mezquitic, Huejuquilla el Alto, Huejúcar, Villa Guerrero, Bolaños, Santa María de los Ángeles). Region 8 Veracruz-Llave, Puebla, Oaxaca, Guerrero, Tlaxcala. Region 9 State of México, Distrito Federal, Hidalgo, Morelos. |
Annex 2
Annex 2 | 12 Months Ended |
Dec. 31, 2017 | |
Annex 2 [Abstract] | |
Annex 2 | Basis of presentation of the consolidated financial statements The accompanying consolidated financial statements were prepared from the accounting records of Telefónica, S.A. and of each of the companies comprising the Telefónica Group, whose separate financial statements were prepared in accordance with the generally accepted accounting principles prevailing in the various countries in which they are located, and for purposes of these consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). These consolidated financial statements give a true and fair view of the consolidated equity and financial position at December 31, 2017 , and of the consolidated results of operations, changes in consolidated equity and the consolidated cash flows obtained and used in the year then ended, which for the purposes of the Telefónica Group are not different from those adopted by the European Union. The euro is the Group’s reporting currency. The figures in these consolidated financial statements are expressed in millions of euros, unless otherwise indicated, and therefore may be rounded. The accompanying consolidated financial statements for the year ended December 31, 2017 were approved by the Company’s Board of Directors at its meeting on February 21, 2018 for submission for approval at the General Shareholders’ Meeting, which is expected to occur without modification. Note 3 contains a detailed description of the most significant accounting policies used to prepare these consolidated financial statements. Materiality criteria These consolidated financial statements do not include certain information or disclosures that, not requiring presentation due to their qualitative significance, have been determined as immaterial or of no relevance pursuant to the concepts of materiality or relevance defined in the IFRS conceptual framework, insofar as the Telefónica Group’s consolidated financial statements, taken as a whole, are concerned. Recognition of Telefónica’s operation in the United Kingdom On March 24, 2015, Telefónica, S.A. reached an agreement with Hutchison Whampoa Group for the acquisition of Telefónica’s operations in United Kingdom. In accordance with IFRS 5, companies under the sale agreement were classified as a disposal group held for sale at that date, and their operations qualified as discontinued operations in the consolidated financial statements for the year ended December 31, 2015. On May 11, 2016 the European Commission made public its decision to prohibit the transaction. Following the submission of the consolidated financial information of the second quarter of 2016, Telefónica’s operations in United Kingdom were no longer presented as discontinued operations and their assets and liabilities ceased to be classified as held for sale. Thus, items are presented line by line in the consolidated financial statements. Accordingly, the comparative figures for 2015 were amended in the consolidated financial statements for the year ended December 31, 2016 with respect to those published in the consolidated financial statements for the year ended December 31, 2015. Comparative information and main changes in the consolidation scope For comparative purposes, the accompanying consolidated financial statements for 2017 include the figures for 2016 , and in the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows, and the notes thereto for the year then ended, they also include those of 2015 . The main events and changes in the consolidation scope affecting comparability of the consolidated information for 2017 and 2016 (see Appendix I for a detail of the consolidation scope and the changes during the year) are as follows: a) Capital increase in Coltel, termination of the operating agreement with the PARAPAT and arbitration award Colombia Telecomunicaciones, S.A. E.S.P. (Coltel) is a company in which Telefónica holds a 67.5% stake and the Colombian Government the remaining 32.5% (see Note 21.c). On August 29, 2017, the shareholders' meeting of ColTel approved: • a capital increase for an aggregate amount of 4,800,966 million Colombian pesos (capital and premium), 1,384 million euros at the exchange rate of the relevant transaction date, so that Coltel would voluntarily pre-pay the entire amount of ColTel's debt derived from the operating agreement dated August 13, 2003 with Patrimonio Autónomo Receptor de Activos de la Empresa Nacional de Telecomunicaciones (the "PARAPAT"). The Telefónica Group and the Colombian Government subscribed the PARAPAT-Capital Increase pro rata to their respective shareholding in ColTel (see Note 12.h). The Telefónica Group disbursed 3,240,652 million Colombian pesos, 934 million euros at the exchange rate of the relevant transaction date. The Government assumed 32.5% of ColTel's payment obligations with the PARAPAT. The PARAPAT capital Increase was subscribed on September 26, 2017, and on September 27, 2017 ColTel pre-paid all of its debt with the PARAPAT (see Note 22), acquiring the ownership of the assets related to PARAPAT. As part of the early termination of the operating agreement with the PARAPAT, Coltel acquired control (see Note 5) of the companies Empresa de Telecomunicaciones de Telebucaramanga S.A. ESP (“Telebucaramanga”), Metropolitana de Telecomunicaciones S.A. ESP (“Metrotel”) and Operaciones Tecnológicas y Comerciales S.A.S. (“Optecom”), for a combined total of 509,975 million Colombian pesos (approximately 147 million euros at the date of the transaction). • a capital increase for an aggregate amount of 1,651,012 million Colombian pesos (capital and premium), 470 million euros at the exchange rate of that date. The proceeds from the Arbitration Award-Capital Increase were used to pay the entire amount set forth in the arbitration award issued in the arbitration proceedings initiated by the ITC in connection with its intention to revert certain assets earmarked for the provisions of mobile voice services under former concessions (see Note 6 and Appendix VI). The Telefónica Group and the Colombian Government subscribed the Arbitration Award-Capital Increase pro rata to their respective shareholding in ColTel. The Telefónica Group disbursed 1,114,433 million Colombian pesos, 317 million euros at the exchange rate of the relevant transaction date. The Colombian Government assumed, and consequently offset, a portion of ColTel's indebtedness. b) Individual Suspension Plan In 2015 Telefónica de España, S.A.U., Telefónica Móviles España, S.A.U. and Telefónica Soluciones de Informática y Comunicaciones de España, S.A.U. signed the 1st Collective Agreement of Related Companies (CEV), wholly backed by the largest labor unions. This agreement considered, among other elements, a plan of measures for individual suspension of the employment relationship in 2016 and 2017, applying principles of voluntariness, universality, non-discrimination and social responsibility. In December 2016, the Collective Agreement of Related Companies was extended until 2018, by virtue of the provisions of this same agreement. The expense relating to the present value of the payment flows to meet the commitments resulting from the extension of this program was recognized in 2016. A total of 789 million euros was recorded for the Individual Suspension Plan in 2016 ( 2,896 million euros in 2015 ). The provision was updated as of 31 December 2017 according to the present degree of adhesion of the Plan, which, together with the updated termination plans, entailed an expense of 165 million euros in the 2017 consolidated income statement (see Note 15). c) Sale of 24.8% and 15.2% of the total share capital of Telxius Telecom, S.A. (Telxius) On October 24, 2017, Telefónica transferred 62 million shares of Telxius (representing 24.8% per cent of its share capital) to Taurus Bidco S.à.r.l. (hereafter, ”KKR”, an entity managed by Kohlberg Kravis Roberts & Co. L.P.) in exchange for 790.5 million euros. On November 13, 2017 KKR exercised a call option over 38 million shares of Telxius (representing 15.2% of its share capital) in exchange for 484.5 million euros (see Note 5). Following the closing of this sale of 15.2% of the share capital of Telxius, in December 2017, together with the 24.8% of the share capital acquired in October, the total stake of KKR is 40% of the share capital of Telxius in exchange for an aggregate amount of 1,275 million euros (see Note 20). These transactions had no impact on the consolidated results of the Telefónica Group as it consisted of the sale of minority interests, with Telefónica retaining control over Telxius. The impact of these transactions in equity attributable to equity holders of the parent was an increase of 570 million euros in retained earnings and a decrease of 9 million euros in translation differences. In addition, there was an increase in equity attributable to non-controlling interests amounting to 690 million euros (see Note 12). d) Translation of Telefónica Venezolana’s financial statements Venezuela has been considered a hyperinflationary economy since 2009. The Bolivar (VEF) is the functional currency of the Venezuelan subsidiaries. We review on a regular basis the economic conditions in Venezuela and the specific circumstances of our Venezuelan operations. Assessment of the exchange rate that better reflects the economics of Telefónica’s business activities in Venezuela relies on several factors and is performed considering all the information available at each closing date. Over the year 2017, the economic and political crisis in Venezuela deepened, bringing a substantial increase in inflation rates. However, the official exchange rate has not followed the change in inflation, and therefore is not representative of the value of the local currency as it does not reflect its real loss in purchasing power. On May 2017, the Government issued a new Exchange Agreement that established a foreign currency auctions system with monitored fluctuating bands, although no new currency auctions have been called since August 2017. In January 2018, the Government issued a new Exchange Agreement establishing a new auctions mechanism where the foreign currency offer will mainly come from the private sector and eliminating the currency protection system ("DIPRO"). The exchange rate resulting in the first currency auction was 30,988 VEF/EUR (equivalent to 25,000 VEF/USD). The structural weaknesses of this exchange mechanism (lack of depth and transparency) suggest there will remain a significant departure between official exchange rates and inflation. In light of this economic reality and in the absence of official rates that are representative of the situation in Venezuela, in 2017 the Group considers the need to estimate an exchange rate that matches the progression of inflation in Venezuela and contributes to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements in a more accurate way (hereinafter, synthetic exchange rate). For these purposes, the calculation method consists of using a representative exchange rate as a starting point, when official exchange rates, existing alternative exchange rates and those rates calculated by using macroeconomic methodologies were more aligned, and restating it for inflation, using the inflation rates applied by the Group to Venezuela ( 2,874.1% for year 2017, 511.1% for year 2016). The exchange rate used to translate the financial statements of the Venezuelan subsidiaries as of December 31, 2017 resulting from the described calculation methodology amounts to 36,115 VEF/USD. As of December 31, 2017, the SIMADI DICOM exchange rate, used by Telefónica in prior periods, amounted to 3,345 VEF/USD. The financial result resulting from the hyperinflation adjustment to the net monetary position and from the exchange differences arising from foreign currency items held by Telefónica Venezolana amounted to 84 million euros in 2017 ( 299 million euros in 2016), see Note 16. The following table presents the contribution of Telefónica Venezolana to certain items of the consolidated income statement, statement of cash flows and statement of financial position of the Telefónica Group for 2017, applying the synthetic exchange rate: Million euros Contribution of Telefónica Venezolana to the consolidated financial statements of the Telefónica Group Revenues 106 Operating income before depreciation and amortization (OIBDA) 34 Depreciation and amortization (103 ) Profit before tax 9 Net result (129 ) Other comprehensive income (movement of translation differences, see Note 12.f) (328 ) Net cash flow provided by operating activities 35 Capital expenditures (CapEx) 9 Non-current assets 295 Given that Venezuela is considered a hyperinflationary economy, the financial statements are adjusted for inflation (see Note 3.a), with the most significant impact being the adjustment of non-current assets by the inflation index. The difference between the profit before tax and the net result corresponds to the deferred tax recognized (see Note 17) for the inflation adjustments of the net assets, which are not deductible according to the present tax regime in Venezuela. At December 31, 2017, the SIMADI/DICOM exchange rate is 10.8 times the synthetic exchange rate. As mentioned above, the official exchange rate resulting from the new Exchange Regime issued in January 2018 is closer to the synthetic exchange rate estimated by Telefónica. For illustrative purposes, if the Telefónica Group had used the SIMADI/DICOM exchange rate, the figures of the above table would have been impacted proportionally by this difference in the exchange rates, except for other comprehensive income, which would have increased the net equity due to the movement of translation differences. ANNEX 1 BRAZIL'S SPECTRUM PORTFOLIO: MEANING OF THE STATES, REGIONS AND SECTORS ACRONYMS Acronym State AC Acre AL Alagoas AP Amapá AM Amazonas BA Bahia CE Ceara DF Distrito Federal ES Espírito Santo GO Goiás MA Maranhão MT Mato Grosso MS Mato Grosso do Sul MG Minas Gerais PA Pará PB Paraíba PR Paraná PE Pernambuco PI Piauí RJ Rio de Janeiro RN Rio Grande do Norte RS Rio Grande do Sul RO Rondônia RR Roraima SC Santa Catarina SP São Paulo SE Sergipe TO Tocantins Regions States & towns included in the regions 1 SP (City) 2 SP (Interior) 2' SP - towns of sector 33 of the GPLG 3 RJ y ES 4 MG 4' MG - towns of sector 3 of the GPLG 5 PR y SC 5' PR - towns of sector 20 of the GPLG 6 RS 6' RS - towns of sector 30 of the GPLG 7 AC, DF, GO, MS, MT, RO y TO 7' GO - towns of sector 25 of the GPLG 8 AM, AP, MA, PA y RR 9 BA y SE 10 AL, CE, PB, PE, PI y RN Sectors GPLG - general plan of the licenses granted (geographic areas that correspond to the sectors) 1 RJ 2 MG - except towns included in sector 3 3 MG - towns of Araporã, Araújo, Campina Verde, Campo Florido, Campos Altos, Canálopis, Capinópolis, Carmo do Paranaíba, Carneirinhos, Centralina, Comendador Gomes, Conceição das Alagoas, Córrego Danta, Cruzeiro da Fortaleza, Delta, Frutal, Gurinhatã, Ibiraci, Igaratinga, Iguatama, Indianópolis, Ipiaçú, Itapagipe, Ituiutaba, Iturama, Lagamar, Lagoa Formosa, Lagoa Grande, Limeira D'Oeste, Luz, Maravilhas, Moema, Monte Alegre de Minas, Monte Santo de Minas, Nova Ponte, Nova Serrana, Papagaios, Pará de Minas, Patos de Minas, Pedrinópolis, Pequi, Perdigão, Pirajuba, Pitangui, Planura, Prata, Presidente Olegário, Rio Paranaíba, Santa Juliana, Santa Vitória, São Francisco de Sales, São José da Varginha, Tupaciguara, Uberaba, Uberlândia, União de Minas & Vazante 4 ES 5 BA 6 SE 7 AL 8 PE 9 PB 10 RN 11 CE 12 PI 13 MA 14 PA 15 AP 16 AM 17 RR 18 SC 19 PR –except towns included of sector 20 20 PR – towns of Londrina and Tamarana 21 MS – except the town integrating of sector 22 22 MS – town of Paranaíba 23 MT 24 TO y GO – except towns included in sector 25 25 GO – towns of Buriti Alegre, Cachoeira Dourada, Inaciolândia, Itumbiara, Paranaiguara and São Simão 26 DF 27 RO 28 AC 29 RS 30 RS – towns of Pelotas, Capão do Leão, Morro Redondo and Turuçu 31 SP – except the towns included in sector 33 33 SP – towns of Altinópolis, Aramina, Batatais, Brodosqui, Buritizal, Cajuru, Cássia dos Coqueiros, Colômbia, Franca, Guaíra, Guará, Ipuã, Ituverava, Jardinópolis, Miguelópolis, Morro Agudo, Nuporanga, Orlândia, Ribeirão Corrente, Sales de Oliveira, Santa Cruz da Esperança, Santo Antônio da Alegria and São Joaquim da Barra ANNEX 2 Mexico spectrum portofolio: meaning of the region numbers Region 1 Baja California: Baja California, Baja California Sur, Sonora (San Luis Río Colorado). Region 2 Sinaloa, Sonora (excluding San Luis Río Colorado). Region 3 Chihuahua, Durango, Coahuila de Zaragoza (Torreón, San Pedro, Matamoros, Francisco I. Madero, Viesca). Region 4 Nuevo León, Tamaulipas, Coahuila de Zaragoza (excluding municipalities of the North Region). Region 5 Chiapas, Tabasco, Yucatán, Quintana Roo, Campeche. Region 6 Jalisco (excluding municipalities of the Central Region), Michoacán de Ocampo, Nayarit, Colima. Region 7 Guanajuato, San Luis Potosí, Zacatecas, Querétaro de Arteaga, Aguascalientes, Jalisco (Lagos de Moreno, Encarnación de Díaz, Teocaltiche, Ojuelos de Jalisco, Colotlán, Villa Hidalgo, Mezquitic, Huejuquilla el Alto, Huejúcar, Villa Guerrero, Bolaños, Santa María de los Ángeles). Region 8 Veracruz-Llave, Puebla, Oaxaca, Guerrero, Tlaxcala. Region 9 State of México, Distrito Federal, Hidalgo, Morelos. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Hyperinflationary economies | a) Hyperinflationary economies Venezuela is considered as a hyperinflationary economy since 2009. The inflation rates used to prepare the financial information are the “Indice Nacional de Precios al Consumidor de Venezuela”, published by the Central Bank of Venezuela, or the best estimate in case the final index is not available. On an annual basis, these rates are 2,874.1% , 511.1% and 190.8% for 2017 , 2016 and 2015 , respectively. The exchange rate used to translate inflation-adjusted bolivar-denominated items is the exchange rate as of the closing date of each reporting period, amounting to 36,115.28 bolivars per U.S. dollar (synthetic exchange rate, see Note 2), 673.762 bolivars per U.S. dollar (DICOM) and 198.699 bolivars per U.S. dollar (SIMADI) as of December 31, 2017 , 2016 and 2015 , respectively. |
Translation methodology | b) Translation methodology The income statements and statements of cash flows of the Group’s foreign subsidiaries (except Venezuela) were translated into euros at the average exchange rates for the year, as a rate that approximates the exchange rates at the dates of the transactions. |
Goodwill | c) Goodwill After initial recognition, goodwill is carried at cost, less any accumulated impairment losses. Goodwill is recognized as an asset denominated in the currency of the company acquired and is tested for impairment annually or more frequently, if there are certain events or changes indicating the possibility that the carrying amount may not be fully recoverable. The potential impairment loss is determined by assessing the recoverable amount of the cash generating unit (or group of cash generating units) to which the goodwill is allocated from the acquisition date. |
Intangible assets | d) Intangible assets Intangible assets are carried at acquisition or production cost, less any accumulated amortization or any accumulated impairment losses. Intangible assets are amortized on a straight-line basis according to the following: • Licenses granted to the Telefónica Group by various public authorities to provide telecommunications services and the value allocated to licenses held by certain companies at the time they were included in the Telefónica Group (“Service concession arrangements and licenses”) are amortized on a straight-line basis over the duration of related licenses from the moment commercial operation begins. • The allocation of acquisition costs attributable to customers acquired in business combinations, as well as the acquisition value of this type of assets in a third-party transaction for consideration (“Customer base”) are amortized on a straight-line basis over the estimated period of the customer relationship. The term length is between 5 to 14 years, based on the customer segment (residential, business, etc.) and the business model (prepaid, postpaid, etc.). • Software is amortized on a straight-line basis over its useful life, generally estimated to be between two and five years . |
Property, plant and equipment | e) Property, plant and equipment Property, plant and equipment is carried at cost less any accumulated depreciation and any accumulated impairment in value. Cost includes, among others, direct labor used in installation and the allocable portion of the indirect costs required for the related asset. The latter two items are recorded as revenue under the concept “Own work capitalized” of the line item “Other income”. Interest and other financial expenses incurred and directly attributable to the acquisition or construction of qualifying assets are capitalized. Qualifying assets for the Telefónica Group are those assets that require a period of at least 18 months to bring the assets to the condition necessary for their intended use or sale. The Group’s subsidiaries depreciate their property, plant and equipment, from the time they can be placed in service, amortizing the cost of the assets, net of their residual values on a straight-line basis over the assets’ estimated useful lives, which are calculated in accordance with technical studies that are revised periodically in light of technological advances and the rate of dismantling, as follows: Years of estimated Buildings 25 – 40 Plant and machinery 10 – 15 Telephone installations, networks and subscriber equipment 5 – 20 Furniture, tools and other items 2 – 10 |
Impairment of non-current assets | f) Impairment of non-current assets Non-current assets, including goodwill and intangible assets are assessed at each reporting date for indicators of impairment. Whenever such indicators exist, or in the case of assets which are subject to an annual impairment test, the recoverable amount is estimated. An asset’s recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future post-tax cash flows deriving from the use of the asset or its cash generating unit, as applicable, are discounted to their present value using a post-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset, whenever the result obtained is the same that would be obtained by discounting pre-tax cash flows at a pre-tax discount rate. The Group bases the calculation of impairment on the approved business plans of the various cash generating units to which the assets are allocated. The projected cash flows, based on the approved strategic business plans, cover a period of five years. Starting with the sixth year, an expected constant growth rate is applied |
Lease agreements | g) Lease agreements The determination of whether an arrangement is, or contains a lease is based on the substance of the agreement and requires an assessment of whether the fulfilment of the arrangement is dependent on the use of a specific asset and the agreement conveys a right to the use of the asset. Leases where the lessor does not transfer substantially all the risks and benefits of ownership of the asset are classified as operating leases. Leases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards incidental to ownership of the leased item to the Group. |
Investment in associates and joint arrangements | h) Investment in associates and joint arrangements The Group assesses whether it has significant influence not only on the basis of its ownership percentage but also on the existence of qualitative factors such as representation on the board of directors of the investee, its participation in decision-making processes, interchange of managerial personnel and access to technical information. The Group assesses rights and obligations agreed to by the parties to a joint arrangement and, when relevant, other facts and circumstances in order to determine whether the joint arrangement in which it is involved is a joint venture or a joint operation. |
Financial investments | Financial investments All regular way purchases and sales of financial assets are recognized in the statement of financial position on the trade date, i.e. the date that the Company commits to purchase or sell the asset. Financial assets which the Group intends to hold for an indefinite period of time and could be sold at any time in response to needs for liquidity requirements or in response to changes in market conditions are classified as available-for-sale. These investments are presented as non-current assets, unless it is probable and feasible that they will be sold within 12 months. |
Derivative financial instruments and hedge accounting | Derivative financial instruments and hedge accounting The accounting treatment of any gain or loss resulting from changes in the fair value of a derivative depends on whether the derivative in question meets all the criteria for hedge accounting and, if appropriate, on the nature of the hedge. Changes in fair value of derivatives that qualify as fair value hedging instruments are recognized in the income statement, together with changes in the fair value of the hedged asset or liability attributable to the risk being hedged. Changes in the fair value of derivatives that qualify and have been designated as cash flows hedges, which are highly effective, are recognized in equity. The ineffective portion is recognized immediately in the income statement. Fair value changes from hedges that relate to firm commitments or forecast transactions that result in the recognition of non-financial assets or liabilities are included in the initial carrying amount of those assets or liabilities. Otherwise, changes in fair value previously recognized in equity are recognized in the income statement in the period in which the hedged transaction affects profit or loss. An instrument designated to hedge foreign currency exposure from a net investment in a foreign operation is accounted for in a similar manner to cash flow hedges. When the Group chooses not to apply hedge accounting criteria, gains or losses resulting from changes in the fair value of derivatives are taken directly to the income statement. In this respect, transactions used to reduce the exchange rate risk of income contributed by foreign subsidiaries are not treated as hedging transactions. |
Inventories | j) Inventories Materials stored for use in investment projects and inventories for consumption and replacement are valued at the lower of weighted average cost and net realizable value. |
Pensions and other employee obligations | k) Pensions and other employee obligations Provisions required to cover the accrued liability for defined-benefit pension plans are determined using “the projected unit credit” actuarial valuation method. The calculation is based on demographic and financial assumptions determined at a country level, and in consideration of the macroeconomic environment. The discount rates are determined based on high quality market yield curves. Plan assets are measured at fair value. Provisions for post-employment benefits (e.g. early retirement or other) are calculated individually based on the terms agreed with the employees. In some cases, these may require actuarial valuations based on both demographic and financial assumptions. |
Revenue | l) Revenue and expenses The Telefónica Group revenues are derived principally from providing the following telecommunications services: traffic, connection fees, regular (normally monthly) network usage fees, interconnection, network and equipment leasing, handset sales and other digital services such as Pay TV and value-added services or maintenance. Products and services may be sold separately or bundled in promotional packages. Revenues from calls carried on Telefónica’s networks (traffic) entail an initial call establishment fee plus a variable call rate, based on call length, distance and type of service. Both wireline and wireless traffic is recognized as revenue as service is provided. For prepaid calls, the amount of unused traffic generates a deferred revenue presented in “Trade and other payables” on the statement of financial position. Prepaid cards generally expire within 12 months and any deferred revenue from prepaid traffic is recognized directly in the income statement when the card expires as the Group has no obligation to provide service after expiry date. Revenues from traffic sales and services at a fixed rate over a specified period of time (flat rate) are recognized on a straight-line basis over the term covered by the rate paid by the customer. Installation fees are taken to the income statement on a straight-line basis over the related period. Equipment leases and other services are taken to profit or loss as they are consumed. Interconnection revenues from wireline-wireless and wireless-wireline calls and other customer services are recognized in the period in which the calls are made. Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. For bundled packages that include multiple elements sold in the wireline, wireless, internet and television businesses it is determined whether it is necessary to separate the separately identifiable elements and apply the corresponding revenue recognition policy to each element. Total package revenue is allocated among the identified elements based on their respective fair values (i.e. the fair value of each element relative to the total fair value of the package). As connection or initial activation fees, or upfront non-refundable fees, are not separately identifiable elements in these types of packages, any revenues received from the customer for these items are allocated to the remaining elements. Additionally, when allocating the package revenue to the elements, amounts contingent upon delivery of undelivered elements are not allocated to delivered elements. All expenses related to bundled promotional packages are recognized in the income statement as incurred. |
Expenses | l) Revenue and expenses The Telefónica Group revenues are derived principally from providing the following telecommunications services: traffic, connection fees, regular (normally monthly) network usage fees, interconnection, network and equipment leasing, handset sales and other digital services such as Pay TV and value-added services or maintenance. Products and services may be sold separately or bundled in promotional packages. Revenues from calls carried on Telefónica’s networks (traffic) entail an initial call establishment fee plus a variable call rate, based on call length, distance and type of service. Both wireline and wireless traffic is recognized as revenue as service is provided. For prepaid calls, the amount of unused traffic generates a deferred revenue presented in “Trade and other payables” on the statement of financial position. Prepaid cards generally expire within 12 months and any deferred revenue from prepaid traffic is recognized directly in the income statement when the card expires as the Group has no obligation to provide service after expiry date. Revenues from traffic sales and services at a fixed rate over a specified period of time (flat rate) are recognized on a straight-line basis over the term covered by the rate paid by the customer. Installation fees are taken to the income statement on a straight-line basis over the related period. Equipment leases and other services are taken to profit or loss as they are consumed. Interconnection revenues from wireline-wireless and wireless-wireline calls and other customer services are recognized in the period in which the calls are made. Revenues from handset and equipment sales are recognized once the sale is considered complete, i.e., generally when delivered to the end customer. For bundled packages that include multiple elements sold in the wireline, wireless, internet and television businesses it is determined whether it is necessary to separate the separately identifiable elements and apply the corresponding revenue recognition policy to each element. Total package revenue is allocated among the identified elements based on their respective fair values (i.e. the fair value of each element relative to the total fair value of the package). As connection or initial activation fees, or upfront non-refundable fees, are not separately identifiable elements in these types of packages, any revenues received from the customer for these items are allocated to the remaining elements. Additionally, when allocating the package revenue to the elements, amounts contingent upon delivery of undelivered elements are not allocated to delivered elements. All expenses related to bundled promotional packages are recognized in the income statement as incurred. |
Use of estimates | m) Use of estimates The key assumptions concerning the future and other relevant sources of uncertainty in estimates at the reporting date that could have a significant impact on the consolidated financial statements within the next financial year are discussed below. A significant change in the facts and circumstances on which these estimates and related judgments are based could have a material impact on the Group’s results and financial position. Accordingly, sensitivity analyses are disclosed for the most relevant situations (see Notes 7 and 15). Property, plant and equipment, intangible assets and goodwill The accounting treatment of investments in property, plant and equipment and intangible assets entails the use of estimates to determine the useful life for depreciation and amortization purposes and to assess fair value at their acquisition dates for assets acquired in business combinations. Determining useful life requires making estimates in connection with future technological developments and alternative uses for assets. There is a significant element of judgment involved in making technological development assumptions, since the timing and scope of future technological advances are difficult to predict. The decision to recognize an impairment loss involves developing estimates that include, among others, an analysis of the causes of the potential impairment, as well as its timing and expected amount. Furthermore, additional factors, such as technological obsolescence, the suspension of certain services and other circumstantial changes, which highlight the need to evaluate a possible impairment, are taken into account. The Telefónica Group evaluates its cash-generating units’ performance regularly to identify potential goodwill impairments. Determining the recoverable amount of the cash-generating units to which goodwill is allocated also entails the use of assumptions and estimates and requires a significant element of judgment. Deferred income taxes The Group assesses the recoverability of deferred tax assets based on estimates of future earnings, and of all the options available to achieve an outcome, it considers the most efficient one in tax terms within the legal framework the Group is subject to. Such recoverability ultimately depends on the Group’s ability to generate taxable earnings over the period for which the deferred tax assets remain deductible. This analysis is based on the estimated schedule for reversing deferred tax liabilities, as well as estimates of taxable earnings, which are sourced from internal projections that are continuously updated to reflect the latest trends. The recognition of tax assets and liabilities depends on a series of factors, including estimates as to the timing and realization of deferred tax assets and the projected tax payment schedule. Actual Group company income tax receipts and payments could differ from the estimates made by the Group as a result of changes in tax legislation or unforeseen transactions that could affect tax balances. Provisions Provisions are recorded when, at the end of the period, we have a present obligation as a result of past events, whose settlement requires an outflow of resources that is considered probable and can be measured reliably. This obligation may be legal or constructive, arising from, but not limited to, regulation, contracts, common practice or public commitments, which have created a valid expectation for third parties that we will assume certain responsibilities. The amount recorded is the best estimation performed by the management in respect of the expenditure that will be required to settle the obligations, considering all the information available at the closing date, including the advice of external experts, such as legal advisors or consultants. Should we be unable to reliably measure the obligation, no provision would be recorded and information would then be presented in the notes to the Consolidated Financial Statements. Because of the inherent uncertainties in this estimation, actual expenditures may be different from the originally estimated amount recognized. Revenue recognition Bundled offers Bundled offers that combine different elements are assessed to determine whether it is necessary to separate the different identifiable components and apply the corresponding revenue recognition policy to each element. Total package revenue is allocated among the identified elements based on their respective fair values. Determining fair values for each identified element requires estimates that are complex due to the nature of the business. A change in estimates of fair values could affect the apportionment of revenue among the elements and, as a result, the date of recognition of revenues. Exchange rate and inflation rates used to translate the financial statements of our Venezuelan subsidiaries As of December 31, 2017 , there are multiple exchange mechanisms and three published exchange rates legally available for translation of the financial statements of the Venezuelan subsidiaries. We review, on a regular basis, the economic conditions in Venezuela and the specific circumstances of our Venezuelan operations. In light of the worsening of the economic and political crisis in Venezuela in 2017 and in the absence of official rates that are representative of the situation in such country, at December 31, 2017 the Group considers the need to estimate an exchange rate that matches the progression of inflation in Venezuela and contributes to reflect the economic and financial position of the Group’s Venezuelan operations within its consolidated financial statements in a more accurate way. Assessment of the exchange rate that best reflects the economics of Telefónica’s business activities in Venezuela relies on several factors and is performed considering all the information available at the closing date, and entails the use of assumptions and estimates and significant management judgment. Due to inherent uncertainties in the estimates required to determine the appropriate exchange rate for the conversion of VEF-denominated financial statements, actual cash flows denominated in such currency may differ from the amounts currently recognized on the basis of our estimates, as a result of changes in currency laws or changes in exchange mechanisms or published exchange rates that may have an impact on the conversion rate used for our Venezuelan subsidiaries’ financial statements, affecting the net monetary position of VEF-denominated assets (liabilities). In addition to this, Venezuela is considered as a hyperinflationary economy since 2009. Telefónica recognizes the effects of inflation by restating the financial information of its Venezuelan operation using the “Indice Nacional de Precios al Consumidor de Venezuela” issued by the Central Bank of Venezuela, or the best estimate in case the final index is not available. Significant management judgment is required to determine the appropriate inflation rate where the official rate is not available. The estimates and underlying assumptions are based on careful consideration of factors that are considered to be relevant and rely on all the information available at the closing date. Actual results may differ from these estimates as a result of changes in circumstances and assumptions about future developments in Venezuela due to evolving market conditions, uncertainty about currency and operating restrictions or other circumstances arising beyond the control of the Company. |
New IFRS and interpretations of the IFRS Interpretations Committee (IFRIC) | n) New IFRS and interpretations of the IFRS Interpretations Committee (IFRIC) The accounting policies applied in the preparation of the consolidated financial statements for the year ended December 31, 2017 are consistent with those used in the preparation of the Group’s consolidated annual financial statements for the year ended December 31, 2016 . The following amendments to standards published by the International Accounting Standards Board (IASB) are effective for annual periods beginning on or after January 1, 2017: • Improvements to IFRS 2014-2016 The annual improvements projects provide a vehicle for making non-urgent but necessary amendments to IFRSs, with the aim of removing inconsistencies and clarifying wording. The amendments related to IFRS 12 Disclosure of Interests in other Entities, aimed clarifying the scope of the standard, are effective for annual periods beginning on or after January 1, 2017, whereas the rest of the improvements are effective for annual periods beginning on or after January 1, 2018. The amendments related to IFRS 12 have not been endorsed by the EU for use in Europe, but they do not have an impact on the Group’s consolidated financial statements since, as of December 31, 2017, the Group does not have interests that are classified as held for sale, as held for distribution or as discontinued operations. • Amendments to IAS 7, Disclosure Initiative The amendments to IAS 7 require entities to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows, such as the issuance and repayments of loans, and non-cash changes, such as unpaid acquisitions, sales and exchange differences. These amendments have been endorsed by the EU for use in Europe. The Group has considered these amendments in the preparation of these consolidated financial statements. • Amendments to IAS 12, Recognition of Deferred Tax Assets for Unrealised Losses The amendments clarify the requirements on recognition of deferred taxes when the tax base of an asset exceeds its fair value. These amendments have been endorsed by the EU for use in Europe. These amendments do not have a significant impact on the results or financial position of the Group. New standards and amendments to standards issued but not effected as of December 31, 2017 . At the date of preparation of the consolidated financial statements, the following IFRSs and amendments had been published, but their application was not mandatory: Standards and amendments Mandatory application: annual periods beginning on or after IFRS 9 Financial instruments January 1, 2018 IFRS 15 Revenue from Contracts with Customers January 1, 2018 Clarifications to IFRS 15 Revenue from Contracts with Customers (issued on 12 April 2016) January 1, 2018 Amendments to IFRS 2 Classification and Measurement of Share-based Payment Transactions January 1, 2018 Amendments to IFRS 4 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts January 1, 2018 Amendments to IAS 40 Transfers of Investment Property January 1, 2018 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 Improvements to IFRS Standards 2014-2016 Cycle January 1, 2017/2018 Improvements to IFRS Standards 2015-2017 Cycle January 1, 2018 IFRS 16 Leases January 1, 2019 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 Amendments to IFRS 9 Prepayment Features with Negative January 1, 2019 Amendments to IAS 28 Long-term Interests in Associates and Joint Ventures January 1, 2019 IFRS 17 Insurance Contracts January 1, 2021 Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred Based on the analyses made to date, the Group estimates that the adoption of many of these standards, amendments and interpretations will not have a significant impact on the consolidated financial statements in the initial period of application. However, the following issued but not yet effective standards are expected to have a significant impact on the consolidated financial statements at the time of their adoption and prospectively. IFRS 15 Revenues from Contracts with Customers IFRS 15 sets out the requirements for recognising revenue from contracts with customers. The new requirements are expected to affect the following aspects, among others: • Under IFRS 15, for bundled packages that combine multiple wireline, wireless, data, internet or television goods or services, the total revenue will be allocated to each performance obligation based on their standalone selling prices in relation to the total consideration of the package and will be recognised when (or as) the obligation is satisfied, regardless of whether there are undelivered items. This differs from current accounting where the portion of the total consideration that is contingent upon delivery of undelivered elements is not allocated to delivered elements. Consequently, when bundles include a discount on equipment, the adoption of these new requirements will result in an increase of revenues recognised from the sale of handsets and other equipment, generally recognised upon delivery to the end customer, in detriment of ongoing service revenue over subsequent periods. To the extent that the packages are marketed at a discount, the difference between the revenue from the sale of equipment and the consideration received from the customer upfront will be recognised as a contract asset on the statement of financial position. • Under the current accounting policy, all expenses directly related with obtaining a contract (sales commissions and other third party acquisition costs) are expensed when incurred. However, IFRS 15 requires the recognition of an asset for those costs that are incremental to obtain a contract and that are expected to be recovered and its subsequent amortisation over the same period as the revenue associated with such asset. • The guidance in IFRS 15 for the distinction between agent and principal is based on the concept of “control” that may differ from the currently applied notion of transfer of “risks and rewards”. However, for the purposes of determining whether the Group acts as principal, selling for its own account (gross revenue), or as an agent in a particular transaction, selling on behalf of others (net revenue), the Group does not expect significant changes to its current accounting policy. • Compared to the current revenue standard, IFRS 15 sets out more detailed requirements on how to account for contract modifications. Certain changes must be accounted for as a retrospective change (i.e. as a continuation of the original contract), while other modifications must be accounted for prospectively as separate contracts, like the end of the original contract and the creation of a new one. • In addition, the Group's financial statements will include more qualitative and quantitative disclosure of income-related accounts. In addition to this, IFRS 15 allows for two transition methods, namely the full retrospective method and the modified retrospective method with the cumulative effect from initial application recognised as an adjustment to the opening balance of retained earnings at the date of initial application. The Group will adopt the latter and prior-year comparatives will not be restated; instead, the Group will disclose the nature and amount of the changes in items in the statement of financial position and the income statement for the current period as a result of applying IFRS 15 for the first time. It is also possible to elect to apply certain practical expedients to facilitate the application of the new criteria. The Group has evaluated which of them will be adopted in the implementation of the standard with the objective of reducing the complexity in its application. The main practical expedients that the Group will adopt are: • Completed contracts: the Group will not apply the standard retrospectively to those contracts that are completed at January 1, 2018. • Portfolio approach: the Group will apply the requirements of the standard to groups of contracts with similar characteristics (residential customers and small and medium-sized entities, where standard offers are marketed), since, for the clusters identified, the effects do not differ significantly from an application on a contract by contract basis. • Financial component: it will not be considered significant when the period between the moment when the promised good or service is transferred to a customer and the moment when the customer pays for that good or service is one year or less. Based on the assessment undertaken to date, the vast majority of contracts issued does not include a significant financing component. • Costs to obtain a contract: these costs will be recognised as an expense when incurred if the amortisation period of the asset that the entity would otherwise recognise is one year or less. The process of implementing the new requirements involves the introduction of modifications to the current information systems, the implementation of new IT tools, and changes in the processes and controls of the entire revenue cycle in the Group companies. This process of implementation in the Group entails a high degree of complexity due to factors such as a large number of contracts, numerous data source systems, diversity of business models in the different locations, as well as the need to make complex estimates. From the analysis performed on the transactions of the last financial year considering commercial offers as well as the volume of contracts affected, the Group estimates that the adoption of the new revenue recognition requirements on the Group’s equity is expected to result in an increase in retained earnings ranging from 950 to 1,100 million euros before taxes, with the most significant impacts being the first-time recognition of contract assets that, under IFRS 15, lead to the earlier recognition of revenue from the sale of goods, and the activation and deferral of the incremental costs of obtaining contracts that, under IFRS 15, result in the later recognition of customer acquisition costs. As the accounting effects of the transition to the new standard will be recognized directly in equity, the effects on profit or loss in 2018 will be related to changes in the point in time at which revenue and expenses are recorded. On the assumption that there are no significant changes to business models or products offered, the Group expects that the application of IFRS 15 on an ongoing basis will entail two offsetting effects, considering a market that features a large number of customer contracts that are being executed at different points in time, as follows: (a) for existing contracts, lower service revenues and higher selling expenses from the amortization of capitalized customer acquisition costs should be expected; and (b) for new contracts, higher revenues from the sale of equipment and lower selling expenses from the capitalization of customer acquisition costs should be expected. Assuming there are no major changes in the business development, the Group expects that such effects may have an impact on net income that will be lower than 0.5% in terms of revenues, and lower than 1% in terms of OIBDA. These impacts are based on the assessments undertaken to date. The actual impacts of adopting IFRS 15 at January 1, 2018 may change because the Group has not finalised the testing and assessment of controls over its new IT systems, and because the new accounting policies are subject to change until the Group presents its first financial statements that include the date of initial application. IFRS 9 Financial Instruments IFRS 9 is applicable to financial assets and financial liabilities. As a result of the analysis of the effects of the new requirements introduced by this standard certain expected impacts have been identified in relation with to the following aspects, among others: • IFRS 9 simplifies the current measurement model for financial assets and establishes three main categories: amortized cost, fair value through profit or loss and fair value through Other Comprehensive Income (OCI), depending on the business model and the characteristics of the contractual cash flows. Regarding recognition and measurement of financial liabilities there are not significant changes from current criteria except for the recognition of changes in own credit risk in OCI for those liabilities measured at fair value through profit or loss. Quoted equity shares currently held as available-for-sale with gains and losses recorded in OCI will be measured at fair value through OCI under IFRS 9 and hence there will be no change to the accounting for these assets. However, gains or losses arising from changes in fair value recognized in OCI will no longer be transferred to profit or loss on sale, but instead reclassified to retained earnings. Dividends from these investments are recognized in the income statement when the Group has the right to receive the dividend. • IFRS 9 introduces a new model for impairment losses on financial assets, i.e. the expected credit loss model, which replaces the current incurred loss model. The Group will apply the simplified approach and record lifetime expected losses on all trade receivables. The application of the new requirements will probably lead to an acceleration in the recognition of impairment losses on its financial assets measured at amortized cost, mainly trade receivables. • Under current accounting, a hedge must be highly effective both, prospective and retrospectively, while IFRS 9 introduces a new, less restrictive, accounting model for hedging, requiring an economic relationship between the hedged item and the hedging instrument and that the coverage ratio be the same as that applied by the entity for its risk management. Likewise, the new standard modifies the criteria for documentation of hedging relationships. • In addition to this, the Group's financial statements will include more detailed disclosures with relevant information regarding financial assets and liabilities. As a result of the analysis of the new standard, the Group expects that the key changes will relate to documentation of policies and hedging strategies, as well as the estimation and timing of recognition of expected losses on receivables from customers. The Group has decided to apply the option that allows not to restate comparative periods to be presented in the year of initial application. Based on the analysis performed to date, the Group estimates that the initial adoption of the new impairment requirements is expected to result in an increase of around 200 million euro over the bad debt provision balance on customer receivables previously recognized under IAS 39. This impact is based on the assessments undertaken to date. The actual impacts of adopting IFRS 9 at 1 January 2018 may change because the Group has not finalized the testing of its new calculation procedures, and because the new accounting policies are subject to change until the Group presents its first financial statements that include the date of initial application. IFRS 16 Leases IFRS 16 requires lessees to recognize assets and liabilities arising from all leases (except for short-term leases and leases of low-value assets) in the statement of financial position. The Group acts as a lessee on a very significant number of lease agreements over different assets, such as third-party towers, circuits, office buildings and stores and land where the towers are located, mainly. A significant portion of these contracts is accounted for as operating lease under the current lease standard, with lease payments being recognised generally on a straight-line basis over the contract term. The Group is currently in the process of estimating the impact of this new standard on such contracts. This analysis includes the estimation of the lease term, based on the non-cancellable period and the periods covered by options to extend the lease, when the exercise depends only on Telefónica and where such exercise is reasonably certain. This will depend, to a large extent, on the specific facts and circumstances by class of assets in the telecom industry (technology, regulation, competition, business model, among others). In addition to this, the Group will make assumptions to calculate the discount rate, which will mainly be based on the incremental borrowing rate of interest for the estimated term. On the other hand, the Group is considering not to separately recognise non-lease components from lease components for those classes of assets in which non-lease components are not material with respect to the total value of the lease. In addition to the mentioned estimations, the standard allows for two transition methods: retrospectively for all periods presented, or using a modified retrospective approach where the cumulative effect of adoption is recognised at the date of initial application. The Group has tentatively decided to adopt the latter transition method; therefore the Group would recognise the cumulative effect of initial application as an adjustment to retained earnings in the year of initial application of IFRS 16. Also, certain practical expedients are available on first-time application in connection with the right of use asset measurement, discount rates, impairment, leases that finish within the twelve months subsequent to the date of first application, initial direct costs, and term of the lease. The Group is evaluating which of these practical expedients will be adopted. In this regard, the Group is considering opting for the practical expedient that allows not reassessing whether a contract is or contains a lease on the date of initial application of IFRS 16 but to directly apply the new requirements to all those contracts which under current accounting were identified as a lease. Due to the different alternatives available, together with the complexity of the estimations and the significant number of lease contracts, the Group has not yet completed the implementation process, so at present it is not possible to make a reasonable estimation of the impact of initial application of the new requirements. However, based on the volume of contracts affected, as well as the magnitude of the future lease commitments, as disclosed in Note 18 herein, the Group expects that the changes introduced by IFRS 16 will have a significant impact on its financial statements from the date of adoption, including the recognition on the balance sheet of right of use assets and their corresponding lease obligations in connection with the majority of contracts that are classified as operating leases under the current lease standard. Also, amortization of the right of use assets and recognition of interest costs on the lease obligation on the statements of income will replace amounts recognized as lease expense under the current lease standard. Classification of lease payments in the statement of cash flows will also be affected by the requirements of the new lease standard. On the other side, the Group's Financial Statements will include broader disclosures with relevant information regarding lease contracts. |
Accounting Policies (Tables)
Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Schedule of Estimated Useful Life of Depreciable Assets | The Group’s subsidiaries depreciate their property, plant and equipment, from the time they can be placed in service, amortizing the cost of the assets, net of their residual values on a straight-line basis over the assets’ estimated useful lives, which are calculated in accordance with technical studies that are revised periodically in light of technological advances and the rate of dismantling, as follows: Years of estimated Buildings 25 – 40 Plant and machinery 10 – 15 Telephone installations, networks and subscriber equipment 5 – 20 Furniture, tools and other items 2 – 10 The composition of and movement in the items comprising net “Property, plant and equipment” in 2017 and 2016 were the following: 2017 Millions of euros Balance at 12/31/16 Additions Depreciation Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/17 Land and buildings 4,858 64 (391 ) (14 ) 139 (293 ) 20 4,383 Plant and machinery 26,770 2,096 (5,062 ) 4 3,455 (2,039 ) 73 25,297 Furniture, tools and other items 1,426 223 (500 ) (4 ) 230 (117 ) 9 1,267 PP&E in progress 3,339 4,496 — (8 ) (4,237 ) (323 ) 11 3,278 Total PP&E 36,393 6,879 (5,953 ) (22 ) (413 ) (2,772 ) 113 34,225 2016 Millions of euros Balance at 12/31/15 Additions Depreciation Disposals Transfers and others Translation differences and hyperinflation adjustments Exclusion of companies Balance at 12/31/16 Land and buildings 4,851 59 (386 ) (36 ) 198 173 (1 ) 4,858 Plant and machinery 24,682 1,325 (5,034 ) (22 ) 4,464 1,369 (14 ) 26,770 Furniture, tools and other items 1,412 190 (531 ) (19 ) 344 30 — 1,426 PP&E in progress 2,965 5,674 — (12 ) (5,365 ) 89 (12 ) 3,339 Total PP&E 33,910 7,248 (5,951 ) (89 ) (359 ) 1,661 (27 ) 36,393 The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December 31, 2017 and 2016 are as follows: Balance at December 31, 2017 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 11,344 (6,958 ) (3 ) 4,383 Plant and machinery 96,335 (70,969 ) (69 ) 25,297 Furniture, tools and other items 6,900 (5,624 ) (9 ) 1,267 PP&E in progress 3,289 — (11 ) 3,278 Total PP&E 117,868 (83,551 ) (92 ) 34,225 Balance at December 31, 2016 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 11,930 (7,069 ) (3 ) 4,858 Plant and machinery 99,945 (73,021 ) (154 ) 26,770 Furniture, tools and other items 7,288 (5,852 ) (10 ) 1,426 PP&E in progress 3,350 — (11 ) 3,339 Total PP&E 122,513 (85,942 ) (178 ) 36,393 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Operating Segments [Abstract] | |
Schedule of Income and Capital Expenditure Information Regarding the Group's Operating Segments | The following table presents income and CapEx information (capital expenditures in intangible assets and property, plant and equipment, see Notes 6 and 8) regarding the Group’s operating segments: 2017 Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,653 6,540 7,296 12,019 12,552 948 52,008 External revenues 12,364 6,505 7,252 11,994 12,394 1,499 52,008 Inter-segment revenues 289 35 44 25 158 (551 ) — Other operating income and expenses (7,701 ) (4,901 ) (5,475 ) (7,828 ) (9,014 ) (902 ) (35,821 ) OIBDA 4,952 1,639 1,821 4,191 3,538 46 16,187 Depreciation and amortization (1,688 ) (1,047 ) (1,954 ) (2,228 ) (2,191 ) (288 ) (9,396 ) Operating income 3,264 592 (133 ) 1,963 1,347 (242 ) 6,791 Capital expenditures (CapEx) 1,683 827 951 2,225 2,678 333 8,697 2016 (revised) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,815 6,861 7,503 11,090 12,579 1,188 52,036 External revenues 12,512 6,821 7,460 11,060 12,337 1,846 52,036 Inter-segment revenues 303 40 43 30 242 (658 ) — Other operating income and expenses (8,412 ) (5,152 ) (5,732 ) (7,388 ) (9,105 ) (1,129 ) (36,918 ) OIBDA 4,403 1,709 1,771 3,702 3,474 59 15,118 Depreciation and amortization (1,827 ) (1,090 ) (2,200 ) (2,036 ) (2,189 ) (307 ) (9,649 ) Operating income 2,576 619 (429 ) 1,666 1,285 (248 ) 5,469 Capital expenditures (CapEx) 1,852 931 1,107 2,137 2,615 286 8,928 2016 (previous segmentation) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,713 6,861 7,503 11,097 12,579 1,283 52,036 External revenues 12,410 6,822 7,460 11,067 12,337 1,940 52,036 Inter-segment revenues 303 39 43 30 242 (657 ) — Other operating income and expenses (8,246 ) (5,152 ) (5,709 ) (7,383 ) (9,102 ) (1,326 ) (36,918 ) OIBDA 4,467 1,709 1,794 3,714 3,477 (43 ) 15,118 Depreciation and amortization (1,830 ) (1,090 ) (2,211 ) (2,038 ) (2,190 ) (290 ) (9,649 ) Operating income 2,637 619 (417 ) 1,676 1,287 (333 ) 5,469 Capital expenditures (CapEx) 1,847 931 1,108 2,138 2,613 291 8,928 2015 Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Revenues 12,402 7,837 7,888 11,060 14,387 1,342 54,916 External revenues 12,194 7,787 7,874 11,027 14,147 1,887 54,916 Inter-segment revenues 208 50 14 33 240 (545 ) — Other operating income and expenses (10,066 ) (5,908 ) (6,030 ) (7,487 ) (10,031 ) (2,165 ) (41,687 ) OIBDA 2,336 1,929 1,858 3,573 4,356 (823 ) 13,229 Depreciation and amortization (1,898 ) (1,196 ) (2,128 ) (1,916 ) (2,241 ) (325 ) (9,704 ) Operating income 438 733 (270 ) 1,657 2,115 (1,148 ) 3,525 Capital expenditures (CapEx) 1,827 883 2,230 2,105 3,060 356 10,461 The following table presents segment assets, liabilities and investments accounted for by the equity method: 2017 Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Investments accounted for by the equity method 2 7 — 2 1 65 77 Fixed assets 15,288 9,198 14,611 23,845 13,931 2,198 79,071 Total allocated assets 22,722 11,610 17,225 30,229 20,226 13,054 115,066 Total allocated liabilities 13,391 4,063 5,889 8,130 10,716 46,259 88,448 2016 (revised) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Investments accounted for by the equity method 1 6 — 2 1 66 76 Fixed assets 15,306 9,771 15,572 27,489 15,089 2,370 85,597 Total allocated assets 22,138 12,025 18,510 35,104 21,655 14,209 123,641 Total allocated liabilities 12,999 3,907 6,006 9,643 13,004 49,697 95,256 2016 (previous segmentation) Millions of euros Telefónica Spain Telefónica United Kingdom Telefónica Germany Telefónica Brazil Telefónica Hispano- américa Other companies and eliminations Total Group Investments accounted for by the equity method 1 6 — 2 1 66 76 Fixed assets 15,559 9,771 15,825 27,522 15,126 1,794 85,597 Total allocated assets 22,353 12,025 18,835 35,192 21,694 13,542 123,641 Total allocated liabilities 13,009 3,907 6,078 9,636 13,002 49,624 95,256 |
Schedule of Composition of Segment Revenues, Detailed by the Main Countries of Operation | The composition of segment revenues, detailed by the main countries in which the Group operates, is as follows: Millions of euros 2017 2016 (revised) 2016 (previous segmentation) 2015 Country Fixed Mobile Other and elims. Total Fixed Mobile Other and elims. Total Fixed Mobile Other and elims. Total Fixed Mobile Other and elims. Total Spain (*) 12,653 12,815 9,795 4,149 (1,231 ) 12,713 9,359 4,337 (1,294 ) 12,402 United Kingdom (**) — 6,216 324 6,540 — 6,572 289 6,861 — 6,861 — 6,861 — 7,837 — 7,837 Germany 862 6,415 19 7,296 981 6,498 24 7,503 981 6,498 24 7,503 1,043 6,832 13 7,888 Brazil 4,659 7,360 — 12,019 4,427 6,663 — 11,090 4,428 6,669 — 11,097 4,154 6,906 — 11,060 Hispano-américa 3,964 8,588 — 12,552 3,999 8,580 — 12,579 3,732 8,882 (35 ) 12,579 4,070 10,347 (30 ) 14,387 Argentina 1,216 2,279 — 3,495 1,133 1,867 — 3,000 1,133 1,867 — 3,000 1,376 2,539 — 3,915 Chile 926 1,259 — 2,185 926 1,237 — 2,163 925 1,238 — 2,163 928 1,292 — 2,220 Peru 1,092 1,226 — 2,318 1,126 1,373 — 2,499 1,126 1,373 — 2,499 1,200 1,566 — 2,766 Colombia 554 909 — 1,463 548 861 — 1,409 548 861 — 1,409 566 942 — 1,508 Mexico — 1,336 — 1,336 — 1,410 — 1,410 — 1,410 — 1,410 — 1,783 — 1,783 Remaining operators and segment eliminations 176 1,579 — 1,755 266 1,832 — 2,098 — 2,133 (35 ) 2,098 — 2,225 (30 ) 2,195 Other and inter-segment eliminations — — 948 948 — — 1,188 1,188 — — — 1,283 — — — 1,342 Total Group — — — 52,008 — — — 52,036 — — — 52,036 — — — 54,916 Note: In the countries of the Telefónica Hispanoamérica segment with separate fixed and mobile operating companies, the intercompany revenues have not been considered. (*) The detail of revenues for Telefónica Spain is shown in the table below. (**) Telefónica United Kingdom mobile revenues include revenues from MVNOs since 1 January 2017, which were previously accounted as "others". Comparative figures for 2016 have been revised accordingly. Given the convergence reached at Telefónica Spain due to the high penetration of the convergent offers in Telefónica Spain, the revenue breakdown by fixed and mobile is less relevant in this segment. For this reason, the following revenue breakdown is shown, which management believes is more meaningful . Millions of euros Telefónica Spain 2017 2016 (revised) Mobile handset sale 379 497 Ex-Mobile handset sale 12,274 12,318 Consumer 6,602 6,536 Corporate 3,401 3,445 Others 2,271 2,337 Total 12,653 12,815 |
Business Combinations and Acq41
Business Combinations and Acquisitions of Non-Controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Telebucaramanga, Metrotel, and Optecom Acquisition | |
Disclosure of detailed information about business combination [line items] | |
Schedule of Consideration Transferred, Fair Values of the Assets and Liabilities Identified at the Acquisition Date, and Goodwill Generated | The following table summarizes the consideration, fair values of the assets and liabilities identified on acquisition and the generated goodwill: Millions of euros Consideration paid for the acquisition of control (1) 147 Fair value of the prior stake 41 Fair value of the minority stake 3 Consideration 191 Intangible assets 21 Customer relationships 20 Other intangible assets 1 Property, plant and equipment 113 Deferred tax assets 10 Other non-current assets 7 Cash and cash equivalents 13 Other current assets 22 Deferred tax liabilities (10 ) Other non-current liabilities (99 ) Current liabilities (33 ) Fair value of net assets 44 Goodwill (Note 7) 147 (1) Excluding the proportion assumed by the non-controlling shareholder and the cash and cash equivalents contributed by the companies at the moment of its inclusion in the consolidation scope, the impact in the consolidated cash flow amounted to 85 million euros (see Note 20). |
GVT | |
Disclosure of detailed information about business combination [line items] | |
Schedule of Consideration Transferred, Fair Values of the Assets and Liabilities Identified at the Acquisition Date, and Goodwill Generated | Millions of euros Gross cash consideration (date of agreement) 4,663 Contingent consideration 102 Fair value of 12% of Telefónica Brasil transferred 2,476 Consideration transferred 7,241 Price adjustment for net debt and hedges (2,168 ) Intangible assets 835 Customer relationships 751 Other intangible assets 84 Property, plant and equipment 2,374 Deferred tax assets 182 Accounts receivable 282 Other assets 256 Cash and cash equivalents 116 Financial debt (2,102 ) Trade and other payables (202 ) Provisions (208 ) Other liabilities (217 ) Fair value of net assets 1,316 Goodwill 3,757 |
DTS | |
Disclosure of detailed information about business combination [line items] | |
Schedule of Consideration Transferred, Fair Values of the Assets and Liabilities Identified at the Acquisition Date, and Goodwill Generated | Millions of euros Cash payment 56% stake 725 Fair value of the prior stake 739 Intangible assets 378 Customer relationships 362 Other intangible assets 16 Property, plant and equipment 91 Deferred tax assets 454 Trade and other receivables 137 Other assets 213 Financial debt (350 ) Trade and other payables (367 ) Other liabilities (66 ) Fair value of net assets 490 Goodwill 974 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets [Abstract] | |
Schedule of Composition and Movements in Net Intangible Assets | The composition of and movements in net intangible assets in 2017 and 2016 are as follows: 2017 Millions of euros Balance at 12/31/2016 Additions Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/2017 Service concession arrangements and licenses 11,594 493 (1,234 ) — 852 (920 ) — 10,785 Software 2,892 640 (1,441 ) — 1,109 (216 ) 3 2,987 Customer base 3,435 — (639 ) — 1 (87 ) 21 2,731 Trademarks 912 — (74 ) — — (58 ) — 780 Other intangible assets 127 18 (55 ) 2 (5 ) (4 ) 3 86 Intangible assets in process 1,558 667 — — (1,559 ) (30 ) — 636 Total intangible assets 20,518 1,818 (3,443 ) 2 398 (1,315 ) 27 18,005 2016 Millions of euros Balance at 12/31/15 Additions Amortization Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/2016 Service concession arrangements and licenses 11,881 340 (1,230 ) (15 ) (2 ) 620 — 11,594 Software 2,722 836 (1,686 ) (16 ) 866 170 — 2,892 Customer base 3,932 — (632 ) — — 135 — 3,435 Trademarks 978 1 (87 ) — — 20 — 912 Other intangible assets 147 32 (63 ) 1 7 2 1 127 Intangible assets in process 1,489 471 — 2 (390 ) (14 ) — 1,558 Total intangible assets 21,149 1,680 (3,698 ) (28 ) 481 933 1 20,518 |
Schedule of Gross Cost, Accumulated Amortization and Impairment Losses of Intangible Assets | The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2017 and 2016 are as follows: Balance at 12/31/2017 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,333 (10,548 ) — 10,785 Software 16,407 (13,420 ) — 2,987 Customer base 6,931 (4,200 ) — 2,731 Trademarks 1,909 (1,129 ) — 780 Other intangible assets 1,081 (993 ) (2 ) 86 Intangible assets in process 636 — — 636 Intangible assets 48,297 (30,290 ) (2 ) 18,005 Balance at 12/31/2016 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,843 (10,249 ) — 11,594 Software 16,361 (13,466 ) (3 ) 2,892 Customer base 7,253 (3,818 ) — 3,435 Trademarks 2,017 (1,105 ) — 912 Other intangible assets 1,135 (1,003 ) (5 ) 127 Intangible assets in process 1,558 — — 1,558 Intangible assets 50,167 (29,641 ) (8 ) 20,518 The movement in this heading assigned to each Group segment was the following: 2017 Millions of euros Balance at 12/31/16 Acquisitions Write-offs Translation differences and other Balance at 12/31/17 Telefónica Spain 4,306 — — 4 4,310 Telefónica Brazil 11,565 — — (1,508 ) 10,057 Telefónica Germany 4,787 28 — — 4,815 Telefónica United Kingdom 4,824 — — (176 ) 4,648 Telefónica Hispanoamérica 3,040 147 — (262 ) 2,925 Others 164 — — (78 ) 86 Total 28,686 175 — (2,020 ) 26,841 2016 Millions of euros Balance at 12/31/15 Acquisitions Write-offs Translation differences and other Balance at 12/31/16 Telefónica Spain 4,306 — — — 4,306 Telefónica Brazil 9,345 — — 2,220 11,565 Telefónica Germany 4,787 — — — 4,787 Telefónica United Kingdom 5,621 — — (797 ) 4,824 Telefónica Hispanoamérica 3,187 — (215 ) 68 3,040 Others 149 26 (13 ) 2 164 Total 27,395 26 (228 ) 1,493 28,686 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets [Abstract] | |
Schedule of Goodwill by Group Segment | The gross cost, accumulated amortization and impairment losses of intangible assets at December 31, 2017 and 2016 are as follows: Balance at 12/31/2017 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,333 (10,548 ) — 10,785 Software 16,407 (13,420 ) — 2,987 Customer base 6,931 (4,200 ) — 2,731 Trademarks 1,909 (1,129 ) — 780 Other intangible assets 1,081 (993 ) (2 ) 86 Intangible assets in process 636 — — 636 Intangible assets 48,297 (30,290 ) (2 ) 18,005 Balance at 12/31/2016 Millions of euros Gross cost Accumulated amortization Impairment losses Intangible assets Service concession arrangements and licenses 21,843 (10,249 ) — 11,594 Software 16,361 (13,466 ) (3 ) 2,892 Customer base 7,253 (3,818 ) — 3,435 Trademarks 2,017 (1,105 ) — 912 Other intangible assets 1,135 (1,003 ) (5 ) 127 Intangible assets in process 1,558 — — 1,558 Intangible assets 50,167 (29,641 ) (8 ) 20,518 The movement in this heading assigned to each Group segment was the following: 2017 Millions of euros Balance at 12/31/16 Acquisitions Write-offs Translation differences and other Balance at 12/31/17 Telefónica Spain 4,306 — — 4 4,310 Telefónica Brazil 11,565 — — (1,508 ) 10,057 Telefónica Germany 4,787 28 — — 4,815 Telefónica United Kingdom 4,824 — — (176 ) 4,648 Telefónica Hispanoamérica 3,040 147 — (262 ) 2,925 Others 164 — — (78 ) 86 Total 28,686 175 — (2,020 ) 26,841 2016 Millions of euros Balance at 12/31/15 Acquisitions Write-offs Translation differences and other Balance at 12/31/16 Telefónica Spain 4,306 — — — 4,306 Telefónica Brazil 9,345 — — 2,220 11,565 Telefónica Germany 4,787 — — — 4,787 Telefónica United Kingdom 5,621 — — (797 ) 4,824 Telefónica Hispanoamérica 3,187 — (215 ) 68 3,040 Others 149 26 (13 ) 2 164 Total 27,395 26 (228 ) 1,493 28,686 |
Schedule of Allocation of Goodwill to the Different Cash-Generating Units (CGUs) | In order to test for impairment, goodwill has been allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments: 12/31/2017 12/31/2016 Telefónica Spain 4,310 4,306 Telefónica Brazil 10,057 11,565 Telefónica Germany 4,815 4,787 Telefónica United Kingdom 4,648 4,824 Telefónica Hispanoamérica 2,925 3,040 Chile 978 1,022 Peru 739 813 Mexico 339 368 Argentina 161 217 Others Telefónica Hispanoamérica 708 620 Others 86 164 TOTAL 26,841 28,686 The after-tax discount rates applied to the cash flow projections in 2017 and 2016 for the main CGUs are as follows: Discount rate in local currency 2017 2016 Spain 5.9% 6.2% Brazil 10.9% 11.3% United Kingdom 6.3% 7.1% Germany 4.7% 5.7% The perpetuity growth rates applied to the cash flow projections in 2017 and 2016 for the main CGUs are as follows: Perpetuity growth rate in local currency 2017 2016 Spain 0.8% 0.8% Brazil 4.5% 5.0% United Kingdom 0.8% 0.8% Germany 1.0% 1.0% |
Schedule of Sensitivity to Changes in Assumptions | The Group carries out a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in such test. For the main CGU the following maximum increases or decreases, expressed in percentage points (p.p.), were assumed: Changes in key assumptions, Spain United Kingdom Germany Brazil Financial variables Discount rate +/- 0.5 +/- 0.5 +/- 1 Perpetuity growth rates +/- 0.25 +/- 0.25 +/- 0.5 Operating variables OIBDA Margin +/- 2 +/- 1.5 +/- 2 Ratio of CapEx/Revenues +/- 1 +/- 0.75 +/- 1 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, plant and equipment [abstract] | |
Schedule of Property, Plant and Equipment | The Group’s subsidiaries depreciate their property, plant and equipment, from the time they can be placed in service, amortizing the cost of the assets, net of their residual values on a straight-line basis over the assets’ estimated useful lives, which are calculated in accordance with technical studies that are revised periodically in light of technological advances and the rate of dismantling, as follows: Years of estimated Buildings 25 – 40 Plant and machinery 10 – 15 Telephone installations, networks and subscriber equipment 5 – 20 Furniture, tools and other items 2 – 10 The composition of and movement in the items comprising net “Property, plant and equipment” in 2017 and 2016 were the following: 2017 Millions of euros Balance at 12/31/16 Additions Depreciation Disposals Transfers and others Translation differences and hyperinflation adjustments Inclusion of companies Balance at 12/31/17 Land and buildings 4,858 64 (391 ) (14 ) 139 (293 ) 20 4,383 Plant and machinery 26,770 2,096 (5,062 ) 4 3,455 (2,039 ) 73 25,297 Furniture, tools and other items 1,426 223 (500 ) (4 ) 230 (117 ) 9 1,267 PP&E in progress 3,339 4,496 — (8 ) (4,237 ) (323 ) 11 3,278 Total PP&E 36,393 6,879 (5,953 ) (22 ) (413 ) (2,772 ) 113 34,225 2016 Millions of euros Balance at 12/31/15 Additions Depreciation Disposals Transfers and others Translation differences and hyperinflation adjustments Exclusion of companies Balance at 12/31/16 Land and buildings 4,851 59 (386 ) (36 ) 198 173 (1 ) 4,858 Plant and machinery 24,682 1,325 (5,034 ) (22 ) 4,464 1,369 (14 ) 26,770 Furniture, tools and other items 1,412 190 (531 ) (19 ) 344 30 — 1,426 PP&E in progress 2,965 5,674 — (12 ) (5,365 ) 89 (12 ) 3,339 Total PP&E 33,910 7,248 (5,951 ) (89 ) (359 ) 1,661 (27 ) 36,393 The gross cost, accumulated depreciation and impairment losses of property, plant and equipment at December 31, 2017 and 2016 are as follows: Balance at December 31, 2017 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 11,344 (6,958 ) (3 ) 4,383 Plant and machinery 96,335 (70,969 ) (69 ) 25,297 Furniture, tools and other items 6,900 (5,624 ) (9 ) 1,267 PP&E in progress 3,289 — (11 ) 3,278 Total PP&E 117,868 (83,551 ) (92 ) 34,225 Balance at December 31, 2016 Millions of euros Gross cost Accumulated depreciation Impairment losses PP&E Land and buildings 11,930 (7,069 ) (3 ) 4,858 Plant and machinery 99,945 (73,021 ) (154 ) 26,770 Furniture, tools and other items 7,288 (5,852 ) (10 ) 1,426 PP&E in progress 3,350 — (11 ) 3,339 Total PP&E 122,513 (85,942 ) (178 ) 36,393 |
Associates and Joint Ventures (
Associates and Joint Ventures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Interests In Other Entities [Abstract] | |
Schedule of Interests in Joint Ventures | The breakdown of items related to associates and joint ventures recognized in the consolidated statements of financial position and income statements is as follows: Millions of euros 12/31/2017 12/31/2016 Investments accounted for by the equity method 77 76 Loans to associates and joint ventures 16 16 Receivables from associates and joint ventures for current operations (Note 11) 32 28 Financial debt, associates and joint ventures 10 9 Payables to associates and joint ventures (Note 14) 491 497 Millions of euros 2017 2016 2015 Share of income (loss) of investments accounted for by the equity method 5 (5 ) (10 ) Revenue from operations with associates and joint ventures 218 213 217 Expenses from operations with associates and joint ventures 20 32 85 Financial expenses with associates and joint ventures — 2 17 |
Schedule of Interests in Associates | The detail of the movement in investments in associates in 2017 and 2016 was the following: Investments accounted for by the equity method Millions of euros Balance at 12/31/15 80 Additions 17 Translation differences and other comprehensive income 2 Income (loss) (5 ) Dividends (13 ) Transfers and other (5 ) Balance at 12/31/16 76 Additions 8 Translation differences and other comprehensive income (1 ) Income (loss) 5 Dividends (11 ) Balance at 12/31/17 77 The breakdown of items related to associates and joint ventures recognized in the consolidated statements of financial position and income statements is as follows: Millions of euros 12/31/2017 12/31/2016 Investments accounted for by the equity method 77 76 Loans to associates and joint ventures 16 16 Receivables from associates and joint ventures for current operations (Note 11) 32 28 Financial debt, associates and joint ventures 10 9 Payables to associates and joint ventures (Note 14) 491 497 Millions of euros 2017 2016 2015 Share of income (loss) of investments accounted for by the equity method 5 (5 ) (10 ) Revenue from operations with associates and joint ventures 218 213 217 Expenses from operations with associates and joint ventures 20 32 85 Financial expenses with associates and joint ventures — 2 17 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party [Abstract] | |
Schedule of Transactions | Millions of euros 2016 BBVA La Caixa Finance costs 36 2 Receipt of services 5 4 Purchase of goods — 65 Other expenses 1 — Total costs 42 71 Finance income 22 — Contracts of management 1 — Dividends received 15 N/A Services rendered 40 66 Sale of goods 3 42 Other income 11 — Total revenue 92 108 Finance arrangements: loans and capital contributions (borrower) 396 45 Finance arrangements: loans and capital contributions (lender) — 10 Guarantees 314 50 Commitments — 84 Finance arrangements: loans and capital contributions (lessee) 244 203 Dividends 243 185 Factoring operations 533 250 A summary of significant transactions between the Telefónica Group and the companies of BBVA and those of la Caixa, carried out at market prices, is as follows: Millions of euros 2017 BBVA La Caixa Finance costs 35 5 Receipt of services 2 9 Purchase of goods — 56 Other expenses 7 — Total costs 44 70 Finance income 28 — Contracts of management 1 — Dividends received (1) 11 N/A Services rendered 38 71 Sale of goods 4 43 Other income — — Total revenue 82 114 Finance arrangements: loans and capital contributions (borrower) 1,038 292 Finance arrangements: loans and capital contributions (lender) — 14 Guarantees 222 51 Commitments — 85 Finance arrangements: loans and capital contributions (lessee) 1,209 414 Dividends paid 128 104 Factoring operations — 250 ( 1) At December 31, 2017 , Telefónica holds a 0.66% stake ( 0.67% at December 31, 2016) in the share capital of Banco Bilbao Vizcaya Argentaria, S.A. (see Note 13.1). |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Trade and Other Receivables | The breakdown of this consolidated statement of financial position heading at December 31, 2017 and 2016 is as follows: Millions of euros 12/31/2017 12/31/2016 Trade receivables billed 7,876 8,620 Trade receivables unbilled 3,015 3,003 Impairment of trade receivables (2,563 ) (2,795 ) Receivables from associates and joint ventures (Note 9) 32 28 Other receivables 367 418 Short-term prepayments 1,366 1,401 Total 10,093 10,675 |
Schedule of Impairment Provision | The movement in impairment of trade receivables in 2017 and 2016 is as follows: Millions of euros Impairment provision at December 31, 2015 2,787 Allowances 915 Amounts applied (1,044 ) Translation differences and other 137 Impairment provision at December 31, 2016 2,795 Allowances 998 Inclusion of companies 14 Amounts applied (1,019 ) Translation differences and other (225 ) Impairment provision at December 31, 2017 2,563 The breakdown of financial assets of the Telefónica Group at December 31, 2017 and 2016 , without considering non-current prepayments, is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,074 250 1,117 1,738 822 3,339 18 — 3,592 7,771 7,771 Investments — — 650 — 567 83 — — — 650 650 Long-term credits — 250 467 — 86 613 18 — 1,105 1,822 1,684 Deposits and guarantees — — — — — — — — 2,625 2,625 2,625 Derivative instruments 1,074 — — 1,738 169 2,643 — — — 2,812 2,812 Impairment losses — — — — — — — — (138 ) (138 ) — Current financial assets 163 60 66 731 105 915 — 169 6,157 7,346 7,346 Financial investments 163 60 66 731 105 915 — 169 965 2,154 2,154 Cash and cash equivalents — — — — — — — — 5,192 5,192 5,192 Total 1,237 310 1,183 2,469 927 4,254 18 169 9,749 15,117 15,117 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,716 270 1,333 3,332 864 5,766 21 — 2,776 9,427 9,427 Investments — — 825 — 620 205 — — — 825 825 Long-term credits — 270 508 — 76 681 21 — 992 1,770 1,616 Deposits and guarantees — — — — — — — — 1,938 1,938 1,938 Derivative instruments 1,716 — — 3,332 168 4,880 — — — 5,048 5,048 Impairment losses — — — — — — — — (154 ) (154 ) — Current financial assets 883 118 115 1,173 483 1,806 — 39 4,362 6,690 6,690 Financial investments 883 118 115 1,173 483 1,806 — 39 626 2,954 2,954 Cash and cash equivalents — — — — — — — — 3,736 3,736 3,736 Total 2,599 388 1,448 4,505 1,347 7,572 21 39 7,138 16,117 16,117 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share Capital, Reserves And Other Equity Interest [Abstract] | |
Schedule of Proposed Distribution of Profit | The Company’s Board of Directors will submit the following proposed distribution of 2017 profit for approval at the Shareholders’ Meeting: Millions of euros Legal reserve 51 Other reserves 503 Total 554 |
Schedule of Subordinated Securities | The characteristic of the undated deeply subordinated securities are the following (millions of euros): Issue date Annual Fix Variable Exercisable from issuer 2017 2016 2015 12/07/17 2.625 % from 06/07/23 rate SWAP + spread incremental 2023 1,000 — — 09/15/16 3.750 % from 03/15/22 rate SWAP + spread incremental 2022 1,000 1,000 — 03/30/15(*) 8.50 % from 03/30/20 rate SWAP + spread incremental 2020 452 452 452 12/04/14 4.20 % from 12/04/19 rate SWAP + spread incremental 2019 850 850 850 03/25/14 5 % from 03/25/20 rate SWAP + spread incremental 2020 750 750 750 5.875 % from 03/25/24 rate SWAP + spread incremental 2024 1,000 1,000 1,000 11/26/13 6.75 % from 11/26/20 rate SWAP + spread incremental 2020 716 716 716 09/18/13 6.5 % from 09/18/18 rate SWAP + spread incremental 2018 1,125 1,125 1,125 7.625 % from 09/18/21 rate SWAP + spread incremental 2021 625 625 625 7,518 6,518 5,518 (*) Issued by Colombia Telecomunicaciones, S.A. ESP ( 500 million US dollars) |
Schedule of Breakdown of Accumulated Contribution of Translation Differences | The breakdown of the accumulated contribution of translation differences attributable to equity holders of the parent at December 31 is as follows: Millions of euros 2017 2016 2015 Brazilian real (8,710 ) (5,999 ) (9,884 ) Venezuelan bolivars (see Note 2.a) (3,493 ) (3,165 ) (3,141 ) Pound sterling (3,223 ) (2,918 ) (1,395 ) Other currencies (3,921 ) (2,658 ) (2,369 ) Total Group (19,347 ) (14,740 ) (16,789 ) |
Schedule of Treasury Share Instruments | At December 31, 2017 , 2016 and 2015 , Telefónica, S.A. held the following treasury shares: Euros per share Number of shares Acquisition price Trading price Market value* % Treasury shares at 12/31/17 65,687,859 10.48 8.13 534 1.26514 % Treasury shares at 12/31/16 141,229,134 10.48 8.82 1,246 2.80339 % Treasury shares at 12/31/15 141,639,159 11.69 10.24 1,450 2.84690 % (*) Millions of euros In 2017 , 2016 and 2015 the following transactions involving treasury shares were carried out: Number of shares Treasury shares at 12/31/14 128,227,971 Acquisitions 138,036,450 Disposals (47,824,300 ) Employee share option plan (2,724,699 ) Capital reduction (74,076,263 ) Treasury shares at 12/31/15 141,639,159 Acquisitions 77,087,297 Employee share option plan (2,869,334 ) Capital reduction (74,627,988 ) Treasury shares at 12/31/16 141,229,134 Acquisitions — Employee share option plan (3,518,795 ) Other movements (72,022,480 ) Treasury shares at 12/31/17 65,687,859 |
Schedule of Equity Attributable to Non-Controlling Interests | The movements in this heading of the 2017 , 2016 and 2015 consolidated statement of financial position are as follows: Millions of euros Balance at 12/31/16 Sales of non-controlling interests and inclusion of companies Acquisitions of non-controlling interests and exclusion of companies Dividends paid Profit/(loss) for the year Change in translation differences Other movements Balance at 12/31/17 Telefônica Brasil, S.A. 5,756 25 — (320 ) 336 (772 ) (7 ) 5,018 Telefónica Deutschland Holding, A.G. 4,150 — (671 ) (229 ) (140 ) — 4 3,114 Colombia Telecomunicaciones, S.A., ESP (88 ) 605 — — 26 (4 ) (16 ) 523 Telefónica Centroamericana Inversiones, S.L. 354 — — (22 ) 18 (43 ) — 307 Telxius Telecom, S.A. — 690 — — 7 (3 ) — 694 Other 56 — — (12 ) (1 ) (2 ) 1 42 Total 10,228 1,320 (671 ) (583 ) 246 (824 ) (18 ) 9,698 Millions of euros Balance at 12/31/15 Sales of non-controlling interests and inclusion of companies Acquisitions of non-controlling interests and exclusion of companies Dividends paid Profit/(loss) for the year Change in translation differences Other movements Balance at 12/31/16 Telefônica Brasil, S.A. 4,644 — — (232 ) 257 1,099 (12 ) 5,756 Telefónica Deutschland Holding, A.G. 4,638 — — (263 ) (217 ) — (8 ) 4,150 Colombia Telecomunicaciones, S.A., ESP (30 ) — — — (32 ) (7 ) (19 ) (88 ) Telefónica Centroamericana Inversiones, S.L. 354 — — (28 ) 19 8 1 354 Other 59 1 (8 ) (1 ) 3 3 (1 ) 56 Total 9,665 1 (8 ) (524 ) 30 1,103 (39 ) 10,228 Millions of euros Balance at 12/31/14 Sales of non-controlling interests and inclusion of companies Acquisitions of non-controlling interests and exclusion of companies Dividends paid Profit/(loss) for the year Change in translation differences Other movements Balance at 12/31/15 Telefônica Brasil, S.A. 3,656 4,359 (1,714 ) (346 ) 288 (1,603 ) 4 4,644 Telefónica Deutschland Holding, A.G. 5,178 — (116 ) (268 ) (159 ) — 3 4,638 Colombia Telecomunicaciones, S.A., ESP (50 ) 17 — — (8 ) 8 3 (30 ) Telefónica Centroamericana Inversiones, S.L. 326 — — (25 ) 18 34 1 354 Other 76 (8 ) — (2 ) (4 ) — (3 ) 59 Total 9,186 4,368 (1,830 ) (641 ) 135 (1,561 ) 8 9,665 |
Schedule of Subsidiary Cash Flows | The statements of cash flows of these companies are as follows: Millions of euros Telefônica Brasil 2017 2016 2015 Net cash flow provided by operating activities 3,710 3,123 2,893 Net cash flow used in investing activities (2,285 ) (2,039 ) (4,111 ) Net cash flow used in financing activities (1,653 ) (1,218 ) 1,530 (228 ) (134 ) 312 Millions of euros Telefónica Germany 2017 2016 2015 Net cash flow provided by operating activities 1,942 2,154 2,081 Net cash flow used in investing activities (1,223 ) (1,252 ) (2,180 ) Net cash flow used in financing activities (706 ) (1,323 ) (1,023 ) 13 (421 ) (1,122 ) |
Financial Assets and Liabilit49
Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments [Abstract] | |
Schedule of Movement in Non-Current Financial Assets | The movement in items composing “Non-current financial assets” in 2017 and 2016 , is as follows: Millions of euros Investments Long-term credits Deposits and guarantees Derivative financial assets Impairment provision Non-current prepayments Non-current financial assets Balance at 12/31/15 1,289 2,512 1,425 5,315 (507 ) 371 10,405 Acquisitions 73 952 169 73 (13 ) 43 1,297 Disposals (446 ) (955 ) (102 ) (270 ) 402 (20 ) (1,391 ) Translation differences 8 (37 ) 337 (15 ) 30 6 329 Fair value adjustments and financial updates (103 ) (21 ) 102 151 — — 129 Transfers and other 4 (681 ) 7 (206 ) (66 ) (62 ) (1,004 ) Balance at 12/31/16 825 1,770 1,938 5,048 (154 ) 338 9,765 Acquisitions 16 960 955 — (12 ) 170 2,089 Disposals (155 ) (232 ) (156 ) (120 ) 41 (24 ) (646 ) Translation differences (7 ) (81 ) (258 ) (57 ) 16 (19 ) (406 ) Fair value adjustments and financial updates 5 (1 ) 84 (1,251 ) — — (1,163 ) Transfers and other (34 ) (594 ) 62 (808 ) (29 ) (69 ) (1,472 ) Balance at 12/31/17 650 1,822 2,625 2,812 (138 ) 396 8,167 |
Schedule of Composition of Long-Term Credits | The composition of long-term credits is as follows: Millions of euros 12/31/2017 12/31/2016 Long-term trade receivables 638 593 Long-term receivables for indirect taxes 189 144 Other long-term credits 995 1,033 Total 1,822 1,770 |
Schedule of Disclosure of Financial Assets | The movement in impairment of trade receivables in 2017 and 2016 is as follows: Millions of euros Impairment provision at December 31, 2015 2,787 Allowances 915 Amounts applied (1,044 ) Translation differences and other 137 Impairment provision at December 31, 2016 2,795 Allowances 998 Inclusion of companies 14 Amounts applied (1,019 ) Translation differences and other (225 ) Impairment provision at December 31, 2017 2,563 The breakdown of financial assets of the Telefónica Group at December 31, 2017 and 2016 , without considering non-current prepayments, is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,074 250 1,117 1,738 822 3,339 18 — 3,592 7,771 7,771 Investments — — 650 — 567 83 — — — 650 650 Long-term credits — 250 467 — 86 613 18 — 1,105 1,822 1,684 Deposits and guarantees — — — — — — — — 2,625 2,625 2,625 Derivative instruments 1,074 — — 1,738 169 2,643 — — — 2,812 2,812 Impairment losses — — — — — — — — (138 ) (138 ) — Current financial assets 163 60 66 731 105 915 — 169 6,157 7,346 7,346 Financial investments 163 60 66 731 105 915 — 169 965 2,154 2,154 Cash and cash equivalents — — — — — — — — 5,192 5,192 5,192 Total 1,237 310 1,183 2,469 927 4,254 18 169 9,749 15,117 15,117 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Available- for-sale Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Held-to-maturity invest-ments Rest of financial assets at amortized cost Total carrying amount Total fair value Non-current financial assets 1,716 270 1,333 3,332 864 5,766 21 — 2,776 9,427 9,427 Investments — — 825 — 620 205 — — — 825 825 Long-term credits — 270 508 — 76 681 21 — 992 1,770 1,616 Deposits and guarantees — — — — — — — — 1,938 1,938 1,938 Derivative instruments 1,716 — — 3,332 168 4,880 — — — 5,048 5,048 Impairment losses — — — — — — — — (154 ) (154 ) — Current financial assets 883 118 115 1,173 483 1,806 — 39 4,362 6,690 6,690 Financial investments 883 118 115 1,173 483 1,806 — 39 626 2,954 2,954 Cash and cash equivalents — — — — — — — — 3,736 3,736 3,736 Total 2,599 388 1,448 4,505 1,347 7,572 21 39 7,138 16,117 16,117 |
Schedule of Maturity Analysis for Non-Derivative Financial Liabilities | T he breakdown of financial liabilities at December 31, 2017 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2018 2019 2020 2021 2022 Subsequent years Non-current total Total Debentures and bonds 5,313 3,599 5,108 4,760 4,903 17,605 35,975 41,288 Promissory notes & commercial paper 2,107 — 112 — — 187 299 2,406 Total Issues 7,420 3,599 5,220 4,760 4,903 17,792 36,274 43,694 Loans and other payables 1,714 2,250 819 918 531 2,668 7,186 8,900 Derivative instruments (Note 16) 280 214 824 453 185 1,196 2,872 3,152 Total 9,414 6,063 6,863 6,131 5,619 21,656 46,332 55,746 The detail and key features of outstanding debentures and bonds at December 31, 2017 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 1,042 1,042 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,542 1,542 EMTN O2 GBP GBP 5.375 % 845 — — — — — 845 EMTN O2 GBP GBP 5.375 % — — — — — 563 563 TELEF EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,667 1,667 TELEF EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0.83000% — — — 55 — — 55 TELEF EMISIONES JANUARY 07 B EUR 1 x EURIBOR3M + 0.70000% 24 — — — — — 24 TELEF EMISIONES MAY 2014 EUR 2.242 % — — — — 1,250 — 1,250 TELEF EMISIONES JULY 15, 2019 USD 5.877 % — 834 — — — — 834 TELEF EMISIONES NOVEMBER 11, 2019 EUR 4.693 % — 1,750 — — — — 1,750 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — — — — 732 — 732 TELE EMISIONES APRIL 3 2010 USD 5.134 % — — 1,168 — — — 1,168 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 451 451 TELEF EMISIONES FEBRUARY 2011 USD 5.462 % — — — 1,251 — — 1,251 TELEF. EMISIONES FEBRUARY 2012 EUR 4.797 % 1,500 — — — — — 1,500 TELEF. EMISIONES FEBRUARY 2012 GBP 5.597 % — — 788 — — — 788 TELEF. EMISIONES JUNE 2013 JPY 4.250 % 74 — — — — — 74 TELEF. EMISIONES OCTOBER 2012 EUR 4.710 % — — 1,200 — — — 1,200 TELEF. EMISIONES DECEMBER 2012 CHF 2.718 % 213 — — — — — 213 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — — — — 128 — 128 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — — — — 1,500 1,500 Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total TELEF. EMISIONES MARCH 2013 EUR 3.961 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2013 USD 3.192 % 1,042 — — — — — 1,042 TELEF EMISIONES APRIL 2013 USD 4.570 % — — — — — 625 625 TELEF. EMISIONES MAY 2013 EUR 2.736 % — 750 — — — — 750 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES OCTOBER 2013 CHF 2.595 % — — 192 — — — 192 TELEF EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0.83% — — — — 67 — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2016 EUR 0.750 % — — — — 1,400 — 1,400 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 0.318 % — — 1,250 — — — 1,250 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1 x EURIBOR3M +0.40% — 150 — — — — 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,251 1,251 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,668 1,668 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 167 167 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 417 417 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 Telefónica Emisiones, S.A.U. 3,698 3,484 4,598 3,306 3,577 14,559 33,222 Exchangeable Bond MARCH 2016 (*) EUR — — — — 600 — — 600 Telefónica Participaciones — — — — 600 — — 600 Total Telefónica, S.A. and its instrumental companies 3,698 3,484 4,598 3,906 3,577 16,101 35,364 (*) Issue of non-dilutive cash-settled equity-linked bonds referenced to Telefónica share price, with a nominal amount of 600 million euros, issue price of 101.25% and maturing in March 2021. Foreign operators Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Bond Q CLP 5.750 % — 64 — — — — 64 Bond T CLP 4.900 % — — 13 26 — 26 65 144A Bond USD 3.875 % — — — — 417 — 417 Telefónica Chile, S.A. — 64 13 26 417 26 546 Bond F UF 3.600 % — — — — — 109 109 Bond G UF 2.200 % — — 73 — — — 73 Bond I UF 1.950 % — — 73 — — — 73 Bond K CLP 4.900 % — — — 128 — — 128 Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Telefónica Móviles Chile, S.A. — — 146 128 — 109 383 T. Finanzas Mex 0710 FIX MXN 8.070 % — — 83 — — — 83 Telefónica Finanzas México, S.A. — — 83 — — — 83 Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3.6250% — — — — — 22 22 Bond T. Peru 4th Program (12th Serie A) N. SOL VAC + 3.6875% — 21 — — — — 21 Bond T. Peru 4th Program (36th Serie B) N. SOL VAC + 3.3750% 17 — — — — — 17 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2.8750% — — — — — 17 17 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3.1250% — — — — — 16 16 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3.1875% — — — — — 7 7 Bond T. Peru 5th Program (22nd Serie Ab) N. SOL VAC + 3.5000% — 4 — — — — 4 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3.5000% — — — 8 — — 8 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — — — — 67 67 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.190 % — — — — — 31 31 Bond T. Peru 6th Program (12th Serie A) N. SOL 5.060 % — — 28 — — — 28 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — — — — 36 — 36 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.340 % — — — — 26 — 26 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.470 % — — — — — 34 34 Bond TM Peru 2nd Program (11th Serie B) N. SOL 7.375 % 15 — — — — — 15 Bond TM Peru 2nd Program (27th Serie A) N. SOL 5.531 % — 13 — — — — 13 Telefónica del Perú, S.A. 32 38 28 8 62 194 362 Nonconvertible bonds BRL 1.0 XCDI + 0.68% 328 — — — — — 328 Nonconvertible bonds BRL 1.0825 XCDI — — — 252 252 — 504 Nonconvertible bonds BRL 1.0 XCDI + 0.24% — — 252 — — — 252 Nonconvertible bonds BRL 1 XIPXA +4 — 10 — — — — 10 Nonconvertible bonds ( Telemig) I BRL IPCA + 0.5% 1 1 1 1 — — 4 Nonconvertible bonds ( Telemig) II BRL IPCA + 0.5% 2 2 2 2 — — 8 Nonconvertible bonds ( Telemig) III BRL IPCA + 0.5% 3 3 3 3 — — 12 Telefônica Brasil, S.A. 334 16 258 258 252 — 1,118 BOND R144-A USD 5.375 % — — — — 625 — 625 Colombia Telecomunicaciones, S.A, ESP — — — — 625 — 625 Bond EUR 1.875 % 600 — — — — — 600 Bond EUR 2.375 % — — — 500 — — 500 O2 Telefónica Deutschland Finanzierungs, GmbH 600 — — 500 — — 1,100 Total Outstanding Debentures and Bonds Foreign operators 966 118 528 920 1,356 329 4,217 Total Outstanding Debentures and Bonds 4,664 3,602 5,126 4,826 4,933 16,430 39,581 |
Schedule of Maturity Analysis for Derivative Financial Liabilities | T he breakdown of financial liabilities at December 31, 2017 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2018 2019 2020 2021 2022 Subsequent years Non-current total Total Debentures and bonds 5,313 3,599 5,108 4,760 4,903 17,605 35,975 41,288 Promissory notes & commercial paper 2,107 — 112 — — 187 299 2,406 Total Issues 7,420 3,599 5,220 4,760 4,903 17,792 36,274 43,694 Loans and other payables 1,714 2,250 819 918 531 2,668 7,186 8,900 Derivative instruments (Note 16) 280 214 824 453 185 1,196 2,872 3,152 Total 9,414 6,063 6,863 6,131 5,619 21,656 46,332 55,746 Foreign exchange and interest rate options, by maturity, are as follows: Currency options Maturities Millions of euros 2018 2019 2020 2021 2022 Subsequent years Currency Puts (EURUSD, USDEUR) Notional amount of options bought 120 — — — — — Strike 1.57 — — — — — Notional amount of options sold 120 — — — — — Strike 1.57 — — — — — Interest rate options Maturities Millions of euros 2018 2019 2020 2021 2022 Subsequent years Collars Notional amount of options bought 800 — — — 845 — Strike Cap 4.35 — — — 4.92 — Strike Floor 3.05 — — — 4.15 — Caps Notional amount of options bought — — — — — — Strike — — — — — — Notional amount of options sold — — — — 845 — Strike — — — — 5.53 — Floors Notional amount of options bought — — — — 845 — Strike — — — — 1.17 — Notional amount of options sold — — — — — — Strike — — — — — — Cash flows receivable or payable on derivative financial instruments to be settled via the swap of nominals, categorized by currency of collection/payment, along with contractual maturities are as follows: Millions of euros 2018 2019 2020 2021 2022 Subsequent years Total Currency swaps Receive ARS — — — — — — — Pay ARS — — — — — — — Receive BRL 66 — — — — — 66 Pay BRL (140 ) (79 ) — — — — (219 ) Receive CLP — — — — 326 94 420 Pay CLP — — (136 ) (134 ) (652 ) (188 ) (1,110 ) Receive COP — — — — — — — Pay COP (42 ) (2 ) — — — — (44 ) Receive CZK — — — — — — — Pay CZK — — — — — — — Receive EUR 80 74 — — — 64 218 Pay EUR (2,119 ) (1,583 ) (3,019 ) (3,104 ) (313 ) (4,952 ) (15,090 ) Receive GBP — 563 1,239 — — — 1,802 Pay GBP — — — — — — — Receive JPY 74 — — — — — 74 Pay JPY — — — — — — — Receive MAD — — — — — — — Pay MAD — — — — — — — Receive MXN — — — — — — — Pay MXN — — — — — — — Receive PEN — — — — — — — Pay PEN (6 ) (1 ) — — — — (7 ) Receive UFC — — 145 — — 218 363 Pay UFC — — — — — (109 ) (109 ) Receive USD 1,963 1,027 1,612 3,302 1,026 4,525 13,455 Pay USD (47 ) — — — (417 ) — (464 ) Receive UDI — — — — — — — Pay UDI — — — — — — — Receive CHF 214 — 192 — — — 406 Pay CHF — — — — 128 — 128 TOTAL 43 (1 ) 33 64 98 (348 ) (111 ) Millions of euros 2018 2019 2020 2021 2022 Subsequent years Total Forwards Receive ARS — — — — — — — Pay ARS — — — — — — — Receive BRL 8 — — — — — 8 Pay BRL (748 ) — — — — — (748 ) Receive CLP 1 — — — — — 1 Pay CLP (569 ) — — — — — (569 ) Receive COP 3 — — — — — 3 Pay COP (818 ) — — — — — (818 ) Receive CZK 67 — — — — — 67 Pay CZK — — — — — — — Receive EUR 5,533 — — — — — 5,533 Pay EUR (2,131 ) — — — — — (2,131 ) Receive GBP 1,022 — — — — — 1,022 Pay GBP (3,084 ) — — — — — (3,084 ) Receive MXN — — — — — — — Pay MXN (352 ) — — — — — (352 ) Receive PEN 25 — — — — — 25 Pay PEN (245 ) — — — — — (245 ) Receive UFC — — — — — — — Pay UFC — — — — — — — Receive USD 2,610 — — — — — 2,610 Pay USD (1,338 ) — — — — — (1,338 ) Receive UYU — — — — — — — Pay UYU (19 ) — — — — — (19 ) TOTAL (35 ) — — — — — (35 ) |
Schedule of Financial Liabilities | The composition of these financial liabilities, by category, at December 31, 2017 and 2016 is as follows: December 31, 2017 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Liabilities at amortized cost Total carrying amount Total fair value Issues — — — — — — 43,694 43,694 47,166 Loans and other payables — — — — — — 8,900 8,900 9,010 Derivative instruments 1,180 — 1,972 80 3,072 — — 3,152 3,152 Total financial liabilities 1,180 — 1,972 80 3,072 — 52,594 55,746 59,328 December 31, 2016 Fair value through profit or loss Measurement hierarchy Millions of euros Held for trading Fair value option Hedges Level 1 (Quoted prices) Level 2 (Other directly observable market inputs) Level 3 (Inputs not based on observable market data) Liabilities at amortized cost Total carrying amount Total fair value Issues — — — — — — 45,444 45,444 48,686 Loans and other payables — — — — — — 11,398 11,398 11,398 Derivative instruments 2,299 — 1,220 64 3,455 — — 3,519 3,519 Total financial liabilities 2,299 — 1,220 64 3,455 — 56,842 60,361 63,603 |
Schedule of Movement in Financial Liabilities | T he following movement presents the detail of changes in the financial liabilities in 2017 that arise from the financial activities: Cash used in financing activities Millions of euros Balance at 12/31/16 Acquisitions Disposals Translation differences Fair value adjustment and financial updates Others movements Balance at 12/31/17 Issues 42,084 8,390 (6,687 ) (2,178 ) (296 ) (25 ) 41,288 Promissory notes and commercial paper 3,360 60 (1,008 ) (6 ) — — 2,406 Loans and other payables 11,397 4,209 (6,241 ) (699 ) (16 ) 250 8,900 Net derivative instruments (3,401 ) — 396 87 3,075 (662 ) (505 ) Total 53,440 12,659 (13,540 ) (2,796 ) 2,763 (437 ) 52,089 |
Schedule of Movement in Issues of Debt | The movement in issues of debentures, bonds and other marketable debt securities in 2017 and 2016 is as follows: Millions of euros Debenture and bond issues Promissory notes and commercial paper Total Balance at 12/31/15 43,557 1,815 45,372 New issues 5,693 1,566 7,259 Redemptions, conversions and exchanges (6,873 ) (25 ) (6,898 ) Revaluation and other movements (293 ) 4 (289 ) Balance at 12/31/16 42,084 3,360 45,444 New issues 8,390 60 8,450 Redemptions, conversions and exchanges (6,687 ) (1,008 ) (7,695 ) Revaluation and other movements (2,499 ) (6 ) (2,505 ) Balance at 12/31/17 41,288 2,406 43,694 |
Schedule of Detailed Information about Debt | Interest-bearing debt arranged or repaid in 2017 mainly includes the following: Description Limit 12/31/2017 (million euros) Currency Outstanding balance 12/31/2017 (million euros) Arrangement date Maturity date Drawndown 2017 (million euros) Repayment 2017 (million euros) Telefónica, S.A. Syndicated facility 2,500 EUR — 02/19/2015 02/19/2022 — (550 ) Syndicated facility (1) — EUR — 11/17/2015 03/30/2017 — — Structured financing (*) 679 USD 566 12/11/2015 03/11/2026 329 (48 ) Structured financing (*) 469 EUR 423 12/11/2015 03/11/2026 217 (34 ) Structured financing (2)(*) — EUR — 06/13/2014 12/15/2017 (185 ) Bilateral loan (3) — EUR — 02/23/2016 02/23/2017 — (100 ) Bilateral loan (4) — EUR — 11/13/2015 05/16/2017 — (100 ) Bilateral loan (5) 1,500 EUR 1,500 06/26/2014 06/26/2019 — — Bilateral loan (6) — EUR 06/30/2015 12/29/2017 — (200 ) Bilateral loan (7) 150 EUR 150 10/24/2016 03/19/2019 — (150 ) Credit facility 380 EUR 292 12/27/2002 12/27/2020 292 — Credit facility 200 EUR 167 03/27/2013 03/14/2020 167 — Telefónica Germany GmbH & Co. OHG Syndicated facility (8) 750 EUR — 03/22/2016 03/22/2022 650 (700 ) EIB Financing — EUR 450 06/13/2016 06/13/2025 200 — Telefónica Europe, B.V. Structured financing (*) 750 EUR 750 11/28/2016 11/28/2024 750 — (1) On March 30, 2017 an early cancellation was made for the 1,500 million euros syndicated facility originally scheduled to mature in 2019. (2) On December 15, 2017 an early repayment was made for the long-term financing originally scheduled to mature in 2019. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On May 16, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2020. (5) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (6) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (7) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (8) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule showing in the column "Limit 12/31/2017" the undrawn amount. The main debentures and bonds issued by the Group in 2017 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 01/17/2017 01/17/2025 1,250 1,250 EUR 1.528 % EMTN Bond 01/17/2017 10/17/2028 500 500 EUR 2.318 % EMTN Bond 01/25/2017 01/25/2019 150 150 EUR EURIBOR 3M + 0.40% SHELF Bond 03/08/2017 03/08/2027 1,500 1,251 USD 4.103 % SHELF Bond 03/08/2017 03/08/2047 2,000 1,667 USD 5.213 % EMTN Bond (Retap) 03/17/2017 10/17/2028 200 200 EUR 2.318 % EMTN Bond 04/18/2017 04/18/2037 200 167 USD 4.900 % SHELF Bond (Retap) 04/28/2017 03/08/2047 500 417 USD 5.213 % EMTN Bond 09/12/2017 01/12/2028 1,250 1,250 EUR 1.715 % Telefónica Brasil, S.A. Debentures 02/08/2017 02/08/2022 2,000 504 BRL 108.25% CDI Debentures 11/27/2017 11/27/2020 1,000 252 BRL 100% CDI + 0.24% The main financing transactions at December 31, 2017 and 2016 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2017 12/31/2016 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 153 USD 128 190 05/03/2011 07/30/2021 Structured Financing (*) 551 USD 460 635 02/22/2013 01/31/2023 Structured Financing (*) 446 USD 371 505 08/01/2013 10/31/2023 Bilateral (1) 1,500 EUR 1,500 1,500 06/26/2014 06/26/2019 Syndicated facility 2,500 EUR — 550 02/19/2015 02/19/2022 Bilateral (2) — EUR — 200 06/30/2015 12/29/2017 Structured Financing (*) 679 USD 566 324 12/11/2015 03/11/2026 Structured Financing (*) 469 EUR 423 240 12/11/2015 03/11/2026 Bilateral loan (3) — EUR — 100 02/23/2016 02/23/2017 Bilateral loan 100 EUR 100 100 02/23/2016 02/23/2021 Loan 300 EUR 300 300 03/08/2016 03/08/2021 Bilateral loan (4) 150 EUR 150 300 10/24/2016 03/19/2019 Credit 380 EUR 292 — 12/27/2002 12/27/2020 Credit 200 EUR 167 — 03/27/2013 03/14/2020 Telefónica Germany GmbH & Co. OHG Syndicated facility (5) 750 EUR — 50 03/22/2016 03/22/2022 EIB Financing — EUR 450 250 06/13/2016 06/13/2025 Telefónica Europe, B.V. Structured Financing (*) 750 EUR 750 — 11/28/2016 11/28/2024 ( 1) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (2) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (5) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount. |
Schedule of Loans and Other Payables | The breakdown of “Loans and other payables” by currency at December 31, 2017 and 2016 , along with the equivalent value of foreign-currency loans in euros, is as follows: Outstanding balance (in millions) Currency Euros Currency 12/31/17 12/31/16 12/31/17 12/31/16 Euro 4,682 5,174 4,682 5,174 US dollar 2,936 2,812 2,448 2,668 Brazilian Real 3,939 4,744 993 1,381 Colombian Peso 1,398,550 5,473,409 391 1,731 Pounds Sterling 106 109 120 127 Peruvian nuevo sol 462 527 119 149 Other currencies 147 168 Total Group 8,900 11,398 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Trade and Other Payables | The composition of “Trade and other payables” is as follows: Millions of euros 12/31/2017 12/31/2016 Non-current Current Non-current Current Trade payables 86 7,943 80 8,043 Payables to suppliers of property, plant and equipment 5 3,580 9 3,816 Debt for spectrum acquisition 569 172 608 504 Other payables 253 1,522 325 1,721 Deferred revenue 774 1,387 903 1,569 Payable to associates and joint ventures (Note 9) — 491 — 497 Total 1,687 15,095 1,925 16,150 |
Schedule of Other Current Payables | The detail of current “Other payables” at December 31, 2017 and 2016 is as follows: Millions of euros 12/31/2017 12/31/2016 Dividends pending payment to non-controlling interests 235 257 Accrued employee benefits 696 774 Advances received on orders 172 189 Other non-financial non-trade payables 419 501 Total 1,522 1,721 |
Schedule of Information on Average Payment Period to Suppliers | In accordance with the aforementioned Law, the following information corresponding to the Spanish companies of the Telefónica Group is disclosed: 2017 2016 Number of days Weighted average maturity period 53 45 Ratio of payments 54 45 Ratio of outstanding invoices 41 42 Million of euros Total payments 6,703 6,727 Outstanding invoices 847 651 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Employee Benefits [Abstract] | |
Schedule of Amounts of Provisions | The amounts of provisions in 2017 and 2016 are as follows: 12/31/2017 12/31/2016 Millions of euros Current Non-current Total Current Non-current Total Employee benefits 912 5,666 6,578 1,002 6,147 7,149 Termination plans 515 1,282 1,797 709 1,685 2,394 Post-employment defined benefit plans 9 1,030 1,039 3 935 938 Other benefits 388 3,354 3,742 290 3,527 3,817 Other provisions 1,304 3,552 4,856 1,218 3,726 4,944 Total 2,216 9,218 11,434 2,220 9,873 12,093 |
Schedule of Movement in Provisions for Post-Employment Plans | The movement in provisions for post-employment plans in 2017 and 2016 is as follows: Millions of euros Total Provisions for post-employment plans at 12/31/15 2,583 Additions 571 Retirements/amount applied (822 ) Transfers 35 Translation differences and accretion 27 Provisions for post-employment plans at 12/31/16 2,394 Additions 179 Retirements/amount applied (759 ) Transfers (8 ) Translation differences and accretion (9 ) Provisions for post-employment plans at 12/31/17 1,797 |
Schedule of Post-Employment Defined Benefit Plans by Country of Operation | The following tables present the main data of these plans: 12/31/2017 Millions of euros Spain United Kingdom Germany Brazil Hispano- américa Others Total Obligation 490 1,828 235 734 80 16 3,383 Assets — (1,651 ) (84 ) (835 ) — (9 ) (2,579 ) Net provision before asset ceiling 490 177 151 (101 ) 80 7 804 Asset ceiling — — — 232 — — 232 Net provision 490 177 151 134 80 7 1,039 Net assets — — — 3 — — 3 12/31/2016 Millions of euros Spain United Kingdom Germany Brazil Hispano- américa Others Total Obligation 533 1,834 233 737 25 16 3,378 Assets — (1,662 ) (128 ) (982 ) — (8 ) (2,780 ) Net provision before asset ceiling 533 172 105 (245 ) 25 8 598 Asset ceiling — — — 337 — — 337 Net provision 533 172 105 95 25 8 938 Net assets — — — 3 — — 3 |
Schedule of Movement in the Present Value of Obligations | The movement in the present value of obligations in 2017 and 2016 is as follows: Millions of euros Spain United Kingdom Germany Brazil Hispano- américa Other Total Present value of obligation at 12/31/15 552 1,613 198 449 31 15 2,858 Translation differences — (251 ) — 125 (9 ) — (135 ) Current service cost 7 — 6 1 7 — 21 Interest cost 8 54 5 59 4 1 131 Actuarial losses and gains 17 444 31 149 2 — 643 Benefits paid (51 ) (26 ) (3 ) (46 ) (3 ) — (129 ) Other movements — — (4 ) — (7 ) — (11 ) Present value of obligation at 12/31/16 533 1,834 233 737 25 16 3,378 Translation differences — (67 ) — (109 ) (15 ) (2 ) (193 ) Current service cost 6 — 9 3 2 1 21 Interest cost 6 46 4 73 6 1 136 Actuarial losses and gains (9 ) 60 (8 ) 85 8 — 136 Benefits paid (46 ) (46 ) (3 ) (55 ) (3 ) (1 ) (154 ) Inclusion of companies — — — — 61 — 61 Other movements — 1 — — (4 ) 1 (2 ) Present value of obligation at 12/31/17 490 1,828 235 734 80 16 3,383 |
Schedule of Movement in the Fair Value of Plan Assets | Movements in the fair value of plan assets in 2017 and 2016 are as follows: Millions of euros United Kingdom Germany Brazil Other Total Fair value of plan assets at 12/31/15 1,753 122 637 10 2,522 Translation differences (256 ) — 171 — (85 ) Interest income 59 3 86 1 149 Actuarial losses and gains 134 (2 ) 132 — 264 Company contributions — 9 1 — 10 Benefits paid (26 ) (2 ) (45 ) — (73 ) Other movements (2 ) (2 ) — (3 ) (7 ) Fair value of plan assets at 12/31/16 1,662 128 982 8 2,780 Translation differences (61 ) — (130 ) (1 ) (192 ) Interest income 42 2 99 1 144 Actuarial losses and gains 55 — (64 ) — (9 ) Company contributions — 6 1 1 8 Benefits paid (46 ) (2 ) (52 ) (1 ) (101 ) Other movements (1 ) (50 ) (1 ) 1 (51 ) Fair value of plan assets at 12/31/17 1,651 84 835 9 2,579 Fair value of Plan assets is as follows: Millions of euros 12/31/2017 12/31/2016 Shares — 357 Bonds 1,651 1,306 Cash equivalents — (1 ) Total 1,651 1,662 |
Schedule of Main Actuarial Assumptions Used in Valuing Plans | The main actuarial assumptions used in valuing the Plan are as follows: 12/31/2017 12/31/2016 Nominal rate of pension payment increase 3.15 % 3.15 % Discount rate 2.45 % 2.60 % Expected inflation 3.30 % 3.35 % Mortality tables 95% S2NA, 95% S2NA, CMI 2016 1% 7.5 CMI 2015 1% The main actuarial assumptions used in valuing these plans are as follows: 12/31/2017 12/31/2016 Discount rate 9.46% - 9.88% 10.77% - 10.85% Nominal rate of salary increase 5.93 % 6.18 % Long term inflation rate 4.25 % 4.50 % Growth rate for medical costs 7.38 % 7.64 % Mortality tables AT 2000 M/F AT 2000 M/F The main actuarial assumptions used in valuing these plans are as follows: Survival ITP 12/31/2017 12/31/2016 12/31/2017 12/31/2016 Discount rate 1.45 % 1.26 % 1.37 % 1.16 % Expected rate of salary increase 0%-0.5% 0% - 0.5% − − Mortality tables PERM/F 2000P OM77 PERM/F-2000P OM77 90%PERM 2000C/98% PERF 2000C 90% PERM 2000C/98% PERF 2000 C |
Schedule of Sensitivity to Changes in Actuarial Assumptions | The sensitivity to changes in these assumptions is shown below: Present value of the discounted obligation at the current discount rate Present value of the obligation by increasing the discount rate by 0.5% Present value of the obligation by reducing the discount rate by 0.5% Pension plans 469 450 490 Health plans 265 246 286 Total obligation 734 696 776 Present value of the obligation at the current growth rate for medical costs Present value of the obligation by increasing the rate by 1% Present value of the obligation by reducing the rate by 1% Pension plans 469 469 469 Health plans 265 308 230 Total obligation 734 777 699 At December 31, 2017 , reasonably possible changes to one of the following actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below: Millions of euros Increase in defined benefit obligation Discount rate (0.25% decrease) 121 Expected inflation (0.25% increase) 104 Life expectancy (1 year longer) 54 The table below shows the sensitivity of the value of termination, post-employment and other obligations, among which is included the Individual Suspension Plan, of Telefónica Group companies in Spain to changes in the discount rate: -100 b.p. +100 b.p. Impact on value Impact on income statement Impact on value Impact on income statement (270 ) (230 ) 248 213 |
Schedule of Movement in Other Provisions | The movement in “Other provisions” in 2017 and 2016 is as follows: Millions of euros Other provisions at December 31, 2015 4,098 Additions and accretion 1,403 Retirements/amount applied (889 ) Translation differences and other 332 Other provisions at December 31, 2016 4,944 Additions and accretion 1,497 Retirements/amount applied (1,127 ) Translation differences and other (458 ) Other provisions at December 31, 2017 4,856 |
Disclosure of Provisions for Tax Proceedings | The detail of provisions for tax proceedings by nature of risk is as follows: Millions of euros 12/31/2017 12/31/2016 Federal taxes 127 100 State taxes 58 66 Municipal taxes 8 9 FUST, FISTEL and EBC 709 736 Total 902 911 Breakdown of changes in provisions for tax proceedings in 2017 and 2016 is as follows: Millions of euros Balance at 12/31/2015 644 Additions (income) 33 Write-offs due to reversal (income) (14 ) Write-offs due to payment (41 ) Monetary updating 99 Translation differences 165 Other movements 25 Balance at 12/31/2016 911 Additions (income) 63 Write-offs due to reversal (income) (20 ) Write-offs due to payment (47 ) Monetary updating 97 Translation differences (134 ) Other movements 32 Balance at 12/31/2017 902 The balance of these provisions at December 31, 2017 and December, 31 2016 is shown in the following table: Millions of euros 12/31/2017 12/31/2016 Provisions for tax proceedings 902 911 Provisions for regulatory proceedings 278 241 Provisions for labor claims 247 403 Provisions for civil proceedings 266 303 Total 1,693 1,858 |
Disclosure of Provisions for Judicial Deposits | In some situations, in connection with a legal requirement or presentation of guarantees, judicial deposits are made to secure the continuance of the claims under discussion. The judicial deposits by nature of risk at December 31, 2017 and December 31, 2016 are as follows: Millions of euros 12/31/2017 12/31/2016 Tax proceedings 1,066 1,094 Labor claims 223 306 Civil proceedings 304 323 Regulatory proceedings 51 81 Garnishments 36 45 Total 1,680 1,849 Current (see Note 13.b) 82 88 Non-current (see Note 13.a) 1,598 1,761 |
Derivative Financial Instrume52
Derivative Financial Instruments and Risk Management Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments [Abstract] | |
Schedule of Sensitivity Analysis | Millions of euros Change in basis points (bp) Impact on consolidated income statement Impact on consolidated equity +100pb (91 ) 335 -100pb 74 (331 ) The following table illustrates the sensitivity of foreign currency gains and losses and of equity to changes in exchange rates, where: a) in calculating the impact on the income statement, the exchange rate position affecting the income statement at the end of 2017 was considered constant during 2018 ; b) in calculating the impact on equity, only monetary items have been considered, namely debt and derivatives such as hedges of net investment and loans to subsidiaries related to the investment, whose breakdown is considered constant in 2018 and identical to that existing at the end of 2017 . In both cases, Latin American currencies are assumed change their value against the dollar and the rest of the currencies against the euro by 10% . Millions of euros Currency Change Impact on the consolidated income statement Impact on consolidated equity All currencies vs EUR 10% 17 (352 ) USD vs EUR 10% (2 ) (66 ) European currencies vs EUR 10% (1 ) (303 ) Latin American currencies vs USD 10% 20 17 All currencies vs EUR (10)% (17 ) 352 USD (10)% 2 66 European currencies vs EUR (10)% 1 303 Latin American currencies vs USD (10)% (20 ) (17 ) |
Schedule of Financial Results | The breakdown of the financial results recognized in 2017 , 2016 and 2015 is as follows: Millions of euros 2017 2016 2015 Interest income 638 723 1,068 Dividends received 16 19 30 Other financial income 17 38 250 Subtotal 671 780 1,348 Changes in fair value of financial assets at fair value through profit or loss 35 438 (317 ) Changes in fair value of financial liabilities at fair value through profit or loss (97 ) (463 ) 189 Transfer from equity to profit and loss from cash flow hedges (*) (162 ) (238 ) (207 ) Transfer from equity to profit and loss from available-for-sale assets and others (33 ) (136 ) 539 Gain/(loss) on fair value hedges (150 ) (26 ) 62 (Loss)/gain on adjustment to items hedged by fair value hedges 194 (6 ) 24 Subtotal (213 ) (431 ) 290 Interest expenses (1,975 ) (2,225 ) (3,146 ) Ineffective portion of cash flow hedges (10 ) 1 — Accretion of provisions and other liabilities (453 ) (466 ) (313 ) Other financial expenses (310 ) (365 ) (520 ) Subtotal (2,748 ) (3,055 ) (3,979 ) Net finance costs excluding foreign exchange differences and hyperinflationary adjustments (2,290 ) (2,706 ) (2,341 ) (*)The difference in 2016 between this amount and the impact in the consolidated statement of comprehensive income ( 184 million euros) is because of recycling the hedges related to the operation of Telefónica United Kingdom, recorded in the exchange differences account in the consolidated income statement. |
Schedule of Telefonica's Derivatives, Fair Value, and Expected Maturity | The breakdown of Telefónica’s derivatives at December 31, 2016 , their fair value at year-end and the expected maturity schedule are as set forth in the table below: 2016 Millions of euros Fair value (**) Notional amount Maturities (*) Derivatives 2017 2018 2019 Subsequent years Total Interest rate hedges (407 ) (535 ) (481 ) (653 ) 667 (1,002 ) Cash flow hedges 172 (505 ) 150 (417 ) 3,597 2,825 Fair value hedges (579 ) (30 ) (631 ) (236 ) (2,930 ) (3,827 ) Exchange rate hedges (1,038 ) 823 1,170 359 2,760 5,112 Cash flow hedges (1,062 ) 1,028 1,170 359 2,760 5,317 Fair value hedges 24 (205 ) — — — (205 ) Interest and exchange rate hedges (1,842 ) (260 ) 24 1,149 4,273 5,186 Cash flow hedges (1,707 ) (277 ) 309 1,160 4,215 5,407 Fair value hedges (135 ) 17 (285 ) (11 ) 58 (221 ) Net investment Hedges (7 ) (2,309 ) (33 ) (36 ) — (2,378 ) Other Derivatives (107 ) 1,256 (332 ) (437 ) (2,702 ) (2,215 ) Interest rate 9 1,232 (471 ) (456 ) (2,818 ) (2,514 ) Exchange rate (101 ) (574 ) 139 19 116 (299 ) Others (15 ) 598 — — — 598 (*) For interest rate hedges, the positive amount is in terms of fixed “payment.” For foreign currency hedges, a positive amount means payment in functional vs. foreign currency. (**) Positive amounts indicate payables. The breakdown of Telefónica’s derivatives at December 31, 2017 , their fair value at year-end and the expected maturity schedule is as set forth in the table below: 2017 Millions of euros Fair value (**) Notional amount Maturities (*) Derivatives 2018 2019 2020 Subsequent years Total Interest rate hedges (285 ) (1,596 ) (901 ) 1,563 1,701 767 Cash flow hedges 140 (1,015 ) (658 ) 1,399 3,778 3,504 Fair value hedges (425 ) (581 ) (243 ) 164 (2,077 ) (2,737 ) Exchange rate hedges 339 (220 ) 547 2,219 4,720 7,266 Cash flow hedges 344 1,700 621 2,219 4,720 9,260 Fair value hedges (5 ) (1,920 ) (74 ) — — (1,994 ) Interest and exchange rate hedges (546 ) 344 963 952 4,419 6,678 Cash flow hedges (422 ) 344 963 800 3,744 5,851 Fair value hedges (124 ) — — 152 675 827 Net investment Hedges — (140 ) — — — (140 ) Other Derivatives (13 ) (2,431 ) 1,840 (495 ) (2,451 ) (3,537 ) Interest rate (109 ) (3,035 ) 1,840 (495 ) (3,051 ) (4,741 ) Exchange rate 26 (209 ) — — — (209 ) Others 70 813 — — 600 1,413 (*) For interest rate hedges, the positive amount is in terms of fixed “payment.” For foreign currency hedges, a positive amount means payment in functional vs. foreign currency. (**) Positive amounts indicate payables. |
Income Tax Matters (Tables)
Income Tax Matters (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Schedule of Deferred Taxes Movement | The sources of deferred tax assets and liabilities from temporary differences recognized at December 31, 2017 and 2016 are as follows: Millions of euros 12/31/2017 12/31/2016 Goodwill and intangible assets 1,044 1,347 Property, plant and equipment 1,139 1,243 Personnel commitments 1,562 1,665 Provisions 1,079 1,134 Investments in subsidiaries, associates and other shareholdings 4 — Inventories and receivables 301 356 Other 746 1,154 Total deferred tax assets for temporary differences 5,875 6,899 Deferred tax assets and liabilities offset (2,689 ) (2,910 ) Total deferred tax assets for temporary differences registered in the statement of financial position 3,186 3,989 Millions of euros 12/31/2017 12/31/2016 Goodwill and intangible assets 2,192 2,308 Property, plant and equipment 1,168 1,190 Personnel commitments 35 34 Provisions 42 31 Investments in subsidiaries, associates and other shareholdings 1,015 1,299 Inventories and receivables 53 85 Other 329 358 Total deferred tax liabilities for temporary differences 4,834 5,305 Deferred tax assets and liabilities offset (2,689 ) (2,910 ) Total deferred tax liabilities for temporary differences registered in the statement of financial position 2,145 2,395 Millions of euros 12/31/2017 12/31/2016 Tax credits for loss carryforwards 2,776 2,513 Unused tax deductions 1,858 1,727 Deferred tax assets for temporary differences 3,186 3,989 Total deferred tax assets 7,820 8,229 In the majority of cases, realization of the Group’s deferred tax assets and liabilities depends on the future activities carried out by the different companies, on tax regulations in the different countries in which these companies operate, and on the strategic decisions affecting the companies. Under the assumptions made, the estimated realization of deferred tax assets and liabilities recognized in the consolidated statement of financial position at December 31, 2017 is as follows: Millions of euros Total Less than 1 year More than 1 year Deferred tax assets 7,820 922 6,898 Deferred tax liabilities 2,145 (86 ) 2,231 The movements in Tax credits for loss carryforwards in the Telefónica Group in 2017 and 2016 are as follows: Location of the company (Millions of euros) Balance at 12/31/2016 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2017 Spain 1,617 — (114 ) (1 ) (2 ) 1,500 Germany 550 82 (160 ) — — 472 Hispanoamérica 321 675 (53 ) — (144 ) 799 Other countries 25 — (20 ) — — 5 Total tax credits for loss carryforwards 2,513 757 (347 ) (1 ) (146 ) 2,776 Location of the company (Millions of euros) Balance at 12/31/2015 Additions Reversals Perimeter changes Translation differences and other Balance at 12/31/2016 Spain 2,520 2 (866 ) — (39 ) 1,617 Germany 413 226 (89 ) — — 550 Hispanoamérica 192 157 — — (28 ) 321 Other countries 24 6 (2 ) — (3 ) 25 Total tax credits for loss carryforwards 3,149 391 (957 ) — (70 ) 2,513 The movements in deferred taxes in the Telefónica Group in 2017 and 2016 are as follows: Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2016 8,229 2,395 Additions 1,702 579 Disposals (1,711 ) (413 ) Transfers (196 ) (391 ) Translation differences and hyperinflation adjustments (211 ) (70 ) Company movements and others 7 45 Balance at December 31, 2017 7,820 2,145 Millions of euros Deferred tax assets Deferred tax liabilities Balance at December 31, 2015 8,675 2,550 Additions 2,141 327 Disposals (2,325 ) (519 ) Transfers (194 ) (12 ) Translation differences and hyperinflation adjustments (28 ) 14 Company movements and others (40 ) 35 Balance at December 31, 2016 8,229 2,395 Million of euros Total Less than 1 year More than 1 year Tax loss carryforwards generated in the tax group 8,077 237 7,840 Tax loss carryforwards generated before consolidation in the tax group 3,055 — 3,055 |
Schedule of Tax Payables and Receivables | Current tax payables and receivables at December 31, 2017 and 2016 are as follows: Millions of euros Balance at 12/31/2017 Balance at 12/31/2016 Taxes payable Tax withholdings 154 81 Indirect taxes 1,030 1,086 Social security 151 157 Current income taxes payable 580 486 Other 426 522 Total 2,341 2,332 Millions of euros Balance at 12/31/2017 Balance at 12/31/2016 Tax receivables Indirect tax 618 790 Current income taxes receivable 618 601 Other 139 142 Total 1,375 1,533 |
Schedule of Reconciliation of Book Profit before Taxes on Taxable Income | The reconciliation between book profit before tax and the income tax expense from continuing operations for 2017 , 2016 and 2015 is as follows: Millions of euros 2017 2016 2015 Accounting profit before tax 4,597 3,245 906 Tax expense at prevailing statutory rate 1,310 897 209 Permanent differences (186 ) (42 ) 177 Changes in deferred tax charge due to changes in tax rates 19 1 (8 ) (Capitalization)/reversal of tax deduction and tax relief (79 ) (762 ) 453 (Capitalization)/reversal of loss carryforwards (123 ) 714 (1,200 ) (Increase)/decrease in tax expense arising from temporary differences 157 (8 ) 72 Other 121 46 452 Income tax expense 1,219 846 155 Breakdown of current/deferred tax expense Current tax expense 968 1,012 1,753 Deferred tax expense / (benefit) 251 (166 ) (1,598 ) Total income tax expense 1,219 846 155 |
Revenue and Expenses (Tables)
Revenue and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Analysis of income and expense [abstract] | |
Schedule of Breakdown of Revenues | The breakdown of “Revenues” is as follows: Millions of euros 2017 2016 2015 Rendering of services 47,175 47,321 49,681 Net sales 4,833 4,715 5,235 Total 52,008 52,036 54,916 |
Schedule of Breakdown of Other Income | The breakdown of “Other income” is as follows: Millions of euros 2017 2016 2015 Own work capitalized 863 867 946 Gain on disposal of companies 3 228 18 Gain on disposal of other assets 176 130 298 Government grants 23 28 33 Other operating income 424 510 716 Total 1,489 1,763 2,011 |
Schedule of Breakdown of Other Expenses | The breakdown of “Other expenses” is as follows: Millions of euros 2017 2016 2015 Leases 1,069 1,076 1,163 Advertising 1,211 1,256 1,367 Other external services 10,445 10,436 11,586 Taxes other than income tax 1,285 1,136 1,232 Change in trade provisions 863 799 831 Losses on disposal of fixed assets and changes in provisions for fixed assets 44 71 39 Goodwill impairment (Note 7) — 215 104 Other operating expenses 509 352 480 Total 15,426 15,341 16,802 |
Schedule of Estimated Payments on Operating Leases, Purchases, and Other Contractual Commitments | The estimated payment schedule in millions of euros for the next few years on operating leases and purchase and other contractual commitments (non-cancellable without penalty cost) are as follows: 12/31/2017 Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Telefónica Brazil 3,451 514 1,001 718 1,218 Telefónica Germany 2,340 520 660 453 707 Telefónica Hispanoamérica 1,793 376 582 409 426 Telefónica Spain 621 104 201 164 152 Telefónica United Kingdom 464 139 135 79 111 Others 430 86 144 89 111 Operating lease obligations (1) 9,099 1,739 2,723 1,912 2,725 Purchase and other contractual obligations (2) 11,373 5,326 2,957 1,421 1,669 (1) This item includes definitive payments (non-cancellable without penalty cost). Our operating lease obligations have in some cases extension options conditioned on the applicable law of each country. Accordingly, we have included only those amounts that represent the initial contract period. (2) This item includes definitive payments (non-cancellable without penalty cost) due for agreements to purchase goods (such as network equipment) and services. The present value of the payment obligations with the PARAPAT at December 31, 2016 amounted to 1,275 million euros, as follows: Millions of euros Present value Revaluation Pending payment Within one year 152 9 161 From one to five years 517 207 724 More than five years 606 951 1,557 Total 1,275 1,167 2,442 The payment schedule of finance leases of Telefónica Germany at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 18 1 19 From one to five years 15 — 15 Total 33 1 34 The payment schedule of finance leases of Telefónica Brasil at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 13 2 15 From one to five years 37 14 51 More than five years 48 85 133 Total 98 101 199 The payment schedule of finance leases of Telefónica de España, S.A.U. at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 79 3 82 From one to five years 32 1 33 Total 111 4 115 |
Schedule of Breakdown of the Telefónica Group’s Average Number of Employees by Segment | The table below presents the breakdown of the Telefónica Group’s average number of employees by segment (see Note 4) in 2017 , 2016 and 2015 , together with total headcount at December 31 each year. 2017 2016 2015 Average Year-end Average Year-end Average Year-end Telefónica Spain 28,084 27,291 30,214 28,772 31,354 32,171 Telefónica United Kingdom 6,776 6,687 7,454 7,075 7,677 7,616 Telefónica Germany 8,653 8,535 8,341 8,517 9,941 8,557 Telefónica Brazil 33,991 34,125 34,247 33,782 28,488 33,847 Telefónica Hispanoamérica 38,043 37,539 38,889 38,901 38,232 37,951 Other companies 9,824 8,541 12,975 10,276 17,877 17,364 Total 125,371 122,718 132,120 127,323 133,569 137,506 |
Schedule of Breakdown of Depreciation and Amortization | The breakdown of “Depreciation and amortization” on the consolidated income statement is as follows: Millions of euros 2017 2016 2015 Depreciation of property, plant and equipment (Note 8) 5,953 5,951 6,071 Amortization of intangible assets (Note 6) 3,443 3,698 3,633 Total 9,396 9,649 9,704 |
Schedule of Earnings Per Share | Both basic and diluted earnings per share attributable to equity holders of the parent are calculated based on the following data: Millions of euros 2017 2016 2015 Profit attributable to ordinary equity holders of the parent from continuing operations 3,132 2,369 616 Adjustment for the net coupon corresponding to undated deeply subordinated securities (277 ) (257 ) (250 ) Adjustment for the financial expense of the debt component of the mandatorily convertible notes 1 1 2 Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations 2,856 2,113 368 Thousands Number of shares 2017 2016 2015 Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share 5,110,188 4,909,254 4,931,472 Adjustment for mandatorily convertible notes — 151,265 139,116 Adjusted number of shares for basic earnings per share (excluding treasury shares) 5,110,188 5,060,519 5,070,588 Telefónica, S.A. share option plans — 2,716 5,093 Weighted average number of ordinary shares outstanding for diluted earnings per share 5,110,188 5,063,235 5,075,681 Figures in euros 2017 2016 2015 Basic earnings per share 0.56 0.42 0.07 Diluted earnings per share 0.56 0.42 0.07 |
Share-Based Payment Plans (Tabl
Share-Based Payment Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Share-Based Payment Arrangements [Abstract] | |
Schedule of Number and Weighted-Average Exercise Prices of Other Equity Instruments | The maximum number of shares assigned and the number of shares outstanding at December 31, 2017 is as follows: Phase /assignment date No. of shares assigned No. of shares assigned at 12/31/17 Unit fair value End date 2nd phase October 1, 2015 618,000 553,500 6.46 September 30, 2018 With regard to the second phase of this plan, the maximum number of shares allocated (including the amount of co-investment) and the number of shares outstanding at December 31, 2017 are set out below: Phase / assignment date No. of shares assigned Outstanding shares at 12/31/2017 Unit fair value End date 2nd phase / October 1, 2015 6,775,445 5,021,426 6.46 September 30, 2018 |
Cash Flow Analysis (Tables)
Cash Flow Analysis (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cash Flow Statement [Abstract] | |
Schedule of Operating Activities | The detail of net cash flow provided by operating activities is the following: Millions of euros 2017 2016 2015 Var Var Cash received from operations 63,456 63,514 67,582 (0.1 %) (6.0 %) Cash paid from operations (46,929 ) (47,384 ) (50,833 ) (1.0 %) (6.8 %) Cash paid to suppliers (40,508 ) (40,831 ) (43,650 ) (0.8 %) (6.5 %) Cash paid to employees (5,725 ) (5,815 ) (6,462 ) (1.5 %) (10.0 %) Payments related to cancellation of commitments (696 ) (738 ) (721 ) (5.7 %) 2.4 % Net payments of interest and other financial expenses net of dividends received (1,726 ) (2,143 ) (2,445 ) (19.5 %) (12.4 %) Net interest and other financial expenses paid (1,755 ) (2,187 ) (2,490 ) (19.8 %) (12.2 %) Dividends received 29 44 45 (34.1 %) (2.2 %) Taxes paid (1,005 ) (649 ) (689 ) 54.9 % (5.8 %) Net cash flow provided by operating activities 13,796 13,338 13,615 3.4 % (2.0 %) |
Schedule of Investing Activities: Investments, Property, Plant and Equipment, and Intangible Assets | (Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net in 2017 , decreased by 2.1% compared to 2016 . The detail is the following: Millions of euros 2017 2016 2015 Var Var Proceeds from the sale in property, plant and equipment and intangible assets 148 134 254 10.4 % (47.2 %) Payments on investments in property, plant and equipment and intangible assets (9,140 ) (9,321 ) (10,510 ) (2.0 %) (11.3 %) (Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net (8,992 ) (9,187 ) (10,256 ) (2.1 %) (10.4 %) |
Schedule of Investing Activities: Proceeds on Disposals of Companies and Payments on Investments in Companies | The detail of proceeds on disposals of companies, net of cash and cash equivalents disposed and payments on investments in companies, net of cash and cash equivalents acquired is the following: Millions of euros 2017 2016 2015 Sale of Televisión Federal, S.A. (Telefé) (see Note 18) — 306 — Proceeds arising from hedges associated with Telefónica United Kingdom — 399 — Sale of Yourfone GmbH — — 57 Sale of Telefónica Czech Republic — — 313 Sale of Telefónica Telecomunicaciones Públicas, S.A.U. 28 2 — Others 12 60 (16 ) Proceeds on disposals of companies, net of cash and cash equivalents disposed 40 767 354 A cquisition of DTS (see Note 5) — (36 ) (697 ) Acquisition of GVT (see Note 5) — — (2,450 ) Acquisition of Coltel affiliates (Note 5) (85 ) — — Acquisition of Minodes GmbH (9 ) — — Acquisition of Co-trade GmbH (20 ) — — Others (14 ) (18 ) (34 ) Payments on investments in companies, net of cash and cash equivalents acquired (128 ) (54 ) (3,181 ) |
Schedule of Investing Activities: Proceeds and Payments on Financial Investments | The detail of proceeds on financial investments not included under cash equivalents and payments on financial investments not included under cash equivalents is the following: Millions of euros 2017 2016 2015 Sale of stake in Indra — 85 — Sale of stake in China Unicom (Hong Kong) Limited (see Note 13) 72 322 — Sale of stake in Telecom Italia, S.p.A. — — 1,025 Investments of Seguros de Vida y Pensiones Antares, S.A. 49 — — Others 175 82 117 Proceeds on financial investments not included under cash equivalents 296 489 1,142 Legal deposits (75 ) (104 ) (86 ) Investment in Mediaset Premium — (20 ) (100 ) Payment to shareholders of Telco, S.p.A. — — (60 ) Long term deposits (150 ) — — Collateral guarantees on derivatives (709 ) — — Others (172 ) (141 ) (180 ) Payments on financial investments not included under cash equivalents (1,106 ) (265 ) (426 ) |
Schedule of Financing Activities: Dividends Paid, Proceeds from Issuance of Share Capital, and Other Operations | The detail of dividends paid, proceeds from issue of share capital increase, payments and proceeds of treasury shares and other operations with shareholder and minority interest, and operations with other equity holders is the following: Millions of euros 2017 2016 2015 Dividends paid byTelefónica, S.A. (*) (1,904 ) (2,395 ) (2,237 ) Payments to non-controlling interests of Telefônica Brasil, S.A. (290 ) (216 ) (239 ) Payments to non-controlling interests of Telefónica Deutschland Holding, A.G. (229 ) (263 ) (267 ) Payments to non-controlling interests of Telefónica Centroamérica Inversiones (23 ) (27 ) (28 ) Others (13 ) (5 ) (4 ) Dividends paid (see Note 12) (2,459 ) (2,906 ) (2,775 ) Share capital increase of Telefónica, S.A. — — 3,048 Share capital increase of Telefônica Brasil, S.A. — — 1,258 Others 2 — (51 ) Proceeds from share capital increase 2 — 4,255 Transactions with Telefónica, S.A. treasury shares (see Note 12 g) — (645 ) (1,615 ) Transactions with Telefónica Deutschland Holding, A.G. treasury shares — — (133 ) Transactions with Telefônica Brasil, S.A. treasury shares — — (24 ) Sale of 40% of Telxius Telecom, S.A. to Taurus 1,275 — — Others (6 ) (15 ) — (Payments)/proceeds of treasury shares and other operations with shareholders and with minority interests 1,269 (660 ) (1,772 ) Issuance of undated deeply subordinated securities (Note 12) 1,000 1,000 419 Payment of the coupon related to the issuances of undated deeply subordinated securities issued (See Note 12) (354 ) (344 ) (336 ) Operations with other equity holders 646 656 83 (*) This amount differs from that indicated in Note 12 because of withholding taxes deducted in the payment to certain major shareholders. |
Schedule of Financing Activities: Proceeds on Issuance of Debentures and Bonds and Additional Information | The detail of proceeds on issue of debentures and bonds, and other debts, proceeds on loans, borrowings and promissory notes, amortization of debentures and bonds, and other debts, repayments of loans, borrowings and promissory notes and financed operating payments and investments in property, plant and equipment and intangible assets payments is the following: Millions of euros 2017 2016 2015 Issued under the EMTN program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) 3,517 4,900 1,467 Issued of non-dilutive convertible debentures in Telefónica Participaciones, S.A.U. (Appendix III) — 600 — Issued under the SHELF program of Telefónica Emisiones, S.A.U. (see Appendix III) (*) 3,335 — — Issuance of Telefônica Brazil, S.A. 756 — — Others 782 193 135 Proceeds on issue of debentures and bonds, and other debts 8,390 5,693 1,602 Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — 3,070 — Syndicated loan of 2,500 million euros by Telefónica, S.A. — — 2,060 Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — 1,280 1,890 Issuance of debt instruments in the local market by Telefónica Germany GmbH&Co OHG — — 300 Structured financing (see Note 13) 750 — — Syndicated loan of 750 million euros by Telefónica Germany (see Note 13) 650 — — Others 3,444 5,982 4,534 Proceeds on loans, borrowings and promissory notes (see Appendix V) 4,844 10,332 8,784 Repayments of debentures and bonds, and other debts (6,687 ) (6,873 ) (3,805 ) Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — (3,070 ) — Syndicated loan of 2,500 million euros by Telefónica, S.A. (550 ) — (1,560 ) Syndicated loan of 3,000 million euros by Telefónica, S.A. (see Note 13) — (1,980 ) (1,190 ) Loans paid by GVT — (93 ) (1,766 ) Syndicated loan of 750 million euros by Telefónica Germany GmbH (see Note 13) (700 ) — — Others (5,461 ) (3,363 ) (5,342 ) Repayments of loans, borrowings and promissory notes (see Appendix V) (6,711 ) (8,506 ) (9,858 ) Financed spectrum licences payments (Note 14) (329 ) (198 ) (121 ) Payments to suppliers with extended payment terms (Note 13) (717 ) (1,758 ) (5 ) Financed operating payments and investments in property, plant and equipment and intangible assets payments (see Note 13.2) (1,046 ) (1,956 ) (126 ) |
Other Information (Tables)
Other Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Additional information [abstract] | |
Schedule of Auditors' Fees | The detail of these amounts is as follows: Millions of euros 2017 2016 Audit services 18.33 23.37 Audit-related services 0.49 3.10 Tax services 0.20 0.00 All other services (consulting, advisory, etc.) 0.76 0.00 Total 19.78 26.47 The expenses accrued in respect of the fees for services rendered by other auditors in 2017 and 2016 amounted to 40.50 million euros and 34.85 million euros, respectively, as follows: Millions of euros 2017 2016 Audit services 2.80 0.94 Audit-related services 0.48 2.69 Tax services 5.75 8.56 All other services (consulting, advisory, etc.) 31.47 22.66 Total 40.50 34.85 |
Schedule of Key Management Personnel Compensation | Compensation of the Board of Directors and of the Committees thereof Amounts in euros Position Board of Directors Executive Commission Advisory or Control Committees (*) Chairman 240,000 80,000 22,400 Vice chairman 200,000 80,000 — Executive Member — — — Proprietary Member 120,000 80,000 11,200 Independent Member 120,000 80,000 11,200 Other external 120,000 80,000 11,200 (*) In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. José María Álvarez-Pallete López 1,923,100 — — 3,430,430 — 5,802 5,359,332 Mr. Isidro Fainé Casas — 200,000 — — 80,000 — 280,000 Mr. José María Abril Pérez — 200,000 7,000 — 91,200 — 298,200 Mr. Ángel Vilá Boix 7 697,490 — — — — 7,341 704,831 Ms. Eva Castillo Sanz — 120,000 27,000 — 33,600 — 180,600 Mr. Juan Ignacio Cirac Sasturain — 120,000 9,000 — 11,200 — 140,200 Mr. José Javier Echenique Landiríbar — 120,000 18,000 — 109,867 — 247,867 Mr. Peter Erskine — 120,000 17,000 — 113,600 — 250,600 Ms. Sabina Fluxà Thienemann — 120,000 10,000 — 11,200 — 141,200 Mr. Luiz Fernando Furlán — 120,000 5,000 — 7,467 — 132,467 Ms. Carmen García de Andrés 7 — 78,667 8,000 — 12,009 — 98,676 Mr. Peter Löscher — 120,000 9,000 — 11,200 — 140,200 Mr. Ignacio Moreno Martínez — 120,000 28,000 — 38,267 — 186,267 Mr. Francisco Javier de Paz Mancho — 120,000 34,000 — 124,800 — 278,800 Mr. Francisco José Riberas Mera 7 — 78,667 — — — — 78,667 Mr. Wang Xiaochu — 120,000 — — — — 120,000 1 Salary: Regarding Mr. José María Álvarez-Pallete López, it includes the amount of non-variable payments and that which the Board Member has received for his executive tasks. Regarding Mr. Ángel Vilá Boix, he was appointed Board Member of the Company on July 26, 2017, including from this date the amount of non-variable payments and that which the Board Member has received for his executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Board, regardless of the effective attendance of the Board Member to the Board meetings. 3 Allowance: Total amount of the allowances for attending the meetings of the Advisory or Control Committees. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or the achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017. With regard to the bonus corresponding to 2017, and which will be paid in 2018, Executive Board Member Mr. José María Álvarez-Pallete López will earn 3,426,964 euros and Executive Board Member Mr. Ángel Vilá Boix will earn 990,000 euros (the Bonus of Mr. Vilá only includes the amount accrued since his appointment as Director of the Company, on July 26, 2017). 5 Remuneration for membership to the Board Committees: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Delegated Committee and to the Advisory or Control Committees, regardless of the effective attendance of the Board Member to the Advisory or Control Committee meetings. 6 Other items: Among others, it includes the amounts received in concept of payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by Telefónica, S.A. 7 Ms. Carmen García de Andrés and Mr. Francisco José Riberas Mera were appointed Board Members of the Company on May 4, 2017, and Mr. Ángel Vilá Boix was appointed Board Member on July 26, 2017, reflecting, therefore, the received payment, respectively, from the dates mentioned. Likewise, Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. César Alierta Izuel — 213,556 — — — 169 213,725 Mr. Gonzalo Hinojosa Fernández de Angulo — 41,333 4,000 — 46,845 — 92,178 Mr. Pablo Isla Álvarez de Tejera — 41,333 — — 3,858 — 45,191 Mr. Julio Linares López — 116,667 11,000 — 19,600 — 147,267 Mr. Antonio Massanell Lavilla — 120,000 30,000 — 56,000 — 206,000 1 Salary: Includes the amount of non-variable payments and that which the Board Member has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Board, regardless of the effective attendance of the Board Member to the Board meetings. 3 Allowance: Total amount of the allowances for attending the meetings of the Advisory or Control Committees. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017. 5 Remuneration for membership to the Board Committees: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Delegated Committee and to the Advisory or Control Committees, regardless of the effective attendance of the Board Member to the Advisory or Control Committee meetings. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental coverage), fulfilled by Telefónica, S.A. Likewise, specifying the figures included in the previous box, the payment received by the Board Members of Telefónica for their membership to the different Advisory or Control Committees during 2017 is specifically detailed below, including both fixed allocation and attendance allowances. ADVISORY OR CONTROL COMMITTEES OF TELEFÓNICA, S.A. (Amounts in euros) Directors Audit and Control Nominating, Compensation and Corporate Governance Service Quality and Customer Service Strategy and Innovation Regulation and Institutional Affairs TOTAL 2017 Mr. José María Álvarez-Pallete López — — — — — — Mr. Isidro Fainé Casas — — — — — — Mr. José María Abril Pérez — — — 18,200 — 18,200 Mr. Ángel Vilá Boix — — — — — — Ms. Eva Castillo Sanz — — 17,200 22,200 21,200 60,600 Mr. Juan Ignacio Cirac Sasturain — — — 20,200 — 20,200 Mr. José Javier Echenique Landiríbar 34,400 13,467 — — — 47,867 Mr. Peter Erskine — 19,200 — 31,400 — 50,600 Ms. Sabina Fluxà Thienemann — 21,200 — — — 21,200 Mr. Luiz Fernando Furlán — 12,467 — — — 12,467 Ms. Carmen García de Andrés 13,342 — 6,667 — — 20,009 Mr. Peter Löscher — — — 20,200 — 20,200 Mr. Ignacio Moreno Martínez 22,200 — 17,200 — 26,867 66,267 Mr. Francisco Javier de Paz Mancho 23,200 33,400 — — 22,200 78,800 Mr. Francisco José Riberas Mera — — — — — — Mr. Wang Xiaochu — — — — — — Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Audit and Control Nominating, Compensation and Corporate Governance Service Quality and Customer Service Strategy and Innovation Regulation and Institutional TOTAL 2017 Mr. César Alierta Izuel — — — — — — Mr. Gonzalo Hinojosa Fernández de Angulo 4,858 5,858 3,858 3,858 4,858 23,290 Mr. Pablo Isla Álvarez de Tejera — 3,858 — — — 3,858 Mr. Julio Linares López — — 9,533 — 21,067 30,600 Mr. Antonio Massanell Lavilla 23,200 — 28,400 15,200 19,200 86,000 The following table breaks down the amounts received from other companies of the Telefónica Group other than Telefónica, S.A. individually, by the Board Members of the Company, by the performance of executive duties or by their membership to the Board of Directors of said companies: OTHER COMPANIES OF THE TELEFÓNICA GROUP (Amounts in euros) Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. José María Álvarez-Pallete López — — — — — — — Mr. Isidro Fainé Casas — — — — — — — Mr. José María Abril Pérez — — — — — — — Mr. Ángel Vilá Boix — — — — — — — Ms. Eva Castillo Sanz — 80,000 — — — — 80,000 Mr. Juan Ignacio Cirac Sasturain — — — — — — — Mr. José Javier Echenique Landiríbar — — — — — — — Mr. Peter Erskine — 12,403 — — — — 12,403 Ms. Sabina Fluxà Thienemann — — — — — — — Mr. Luiz Fernando Furlán — 98,418 — — — — 98,418 Ms Carmen García de Andrés — — — — — — — Mr. Peter Löscher — — — — — — — Mr. Ignacio Moreno Martínez — — — — — — — Mr. Francisco Javier de Paz Mancho — 285,464 — — — — 285,464 Mr. Francisco José Riberas Mera — — — — — — — Mr. Wang Xiaochu — — — — — — — 1 Salary: Amount of non-variable payments and that which the Board Member of other companies of the Telefónica Group has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the board of directors of other Companies of the Telefónica Group. It is hereby clarified that Mr. Eva Castillo Sanz has accrued an amount of 80,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. Likewise, Mr. Peter Erskine has accrued an amount of 20,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. Likewise, Mr. Ángel Vilá Boix has accrued an amount of 2,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. On the drawing date of this document, none of the amounts mentioned have been paid, which is why they have not been consigned in the box (that only includes amounts received in 2017). 3 Allowance: Total amount of the allowances for attending the board of director meetings of other Companies of the Telefónica Group. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017, by other companies of the Telefónica Group. 5 Remuneration for membership to the Board Committees of other companies of the Telefónica Group: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and accrued by the Board Member for their membership to the board of directors committees of other Companies of the Telefónica Group. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by other companies of the Telefónica Group. Likewise, Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. César Alierta Izuel — — — — — — — Mr. Gonzalo Hinojosa Fernández de Angulo — 9,125 — — — — 9,125 Mr. Pablo Isla Álvarez de Tejera — — — — — — — Mr. Julio Linares López — — — — — — — Mr. Antonio Massanell Lavilla — — — — — — — 1 Salary: Amount of non-variable payments and that which the Board Member of other companies of the Telefónica Group has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the board of directors of other Companies of the Telefónica Group. 3 Allowance: Total amount of the allowances for attending the board of director meetings of other Companies of the Telefónica Group. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017, by other companies of the Telefónica Group. 5 Remuneration for membership to the Board Committees of other companies of the Telefónica Group: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and accrued by the Board Member for their membership to the board of directors committees of other Companies of the Telefónica Group. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by other companies of the Telefónica Group. |
Finance Leases (Tables)
Finance Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leases1 [Abstract] | |
Schedule of Finance Leases by Lessee | The estimated payment schedule in millions of euros for the next few years on operating leases and purchase and other contractual commitments (non-cancellable without penalty cost) are as follows: 12/31/2017 Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Telefónica Brazil 3,451 514 1,001 718 1,218 Telefónica Germany 2,340 520 660 453 707 Telefónica Hispanoamérica 1,793 376 582 409 426 Telefónica Spain 621 104 201 164 152 Telefónica United Kingdom 464 139 135 79 111 Others 430 86 144 89 111 Operating lease obligations (1) 9,099 1,739 2,723 1,912 2,725 Purchase and other contractual obligations (2) 11,373 5,326 2,957 1,421 1,669 (1) This item includes definitive payments (non-cancellable without penalty cost). Our operating lease obligations have in some cases extension options conditioned on the applicable law of each country. Accordingly, we have included only those amounts that represent the initial contract period. (2) This item includes definitive payments (non-cancellable without penalty cost) due for agreements to purchase goods (such as network equipment) and services. The present value of the payment obligations with the PARAPAT at December 31, 2016 amounted to 1,275 million euros, as follows: Millions of euros Present value Revaluation Pending payment Within one year 152 9 161 From one to five years 517 207 724 More than five years 606 951 1,557 Total 1,275 1,167 2,442 The payment schedule of finance leases of Telefónica Germany at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 18 1 19 From one to five years 15 — 15 Total 33 1 34 The payment schedule of finance leases of Telefónica Brasil at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 13 2 15 From one to five years 37 14 51 More than five years 48 85 133 Total 98 101 199 The payment schedule of finance leases of Telefónica de España, S.A.U. at December 31, 2017 , is as follows: Millions of euros Present value Revaluation Pending payment Within one year 79 3 82 From one to five years 32 1 33 Total 111 4 115 |
Schedule of Finance Leases by Lessor | Additionally, Telefónica de España, S.A.U. acts as a lessor in financial leases related to those described above. The minimum lease payment receivables at December 31, 2017 are scheduled as follows: Millions of euros Present value Revaluation Pending receivables Within one year 71 — 71 From one to five years 47 — 47 Total 118 — 118 Additionally, Telefónica Germany acts as a lessor in financial leases related to those described above. The minimum lease payment receivables at December 31, 2017 are scheduled as follows: Millions of euros Present value Revaluation Pending receivables Within one year 8 — 8 Total 8 — 8 Accumulated allowance (2 ) Total after accumulated allowance 6 Additionally, Telefónica Brasil acts as a lessor in financial leases related to those described above. The minimum lease payment receivables at December 31, 2017 are scheduled as follows: Millions of euros Present value Revaluation Pending receivables Within one year 58 — 58 From one to five years 43 8 51 Total 101 8 109 Accumulated allowance (39 ) Total after accumulated allowance 62 |
Appendix I_ Scope of Consolid59
Appendix I: Scope of Consolidation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Consolidations [Abstract] | |
Schedule of Main Companies of the Telefonica Group | Parent Company Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Spain Telefónica de España, S.A.U. Spain EUR 1,024 100 % Telefónica, S.A. Telefónica Móviles España, S.A.U. Spain EUR 209 100 % Telefónica, S.A. Acens Technologies, S.L. Spain EUR 23 100 % Telefónica de España, S.A.U. Teleinformática y Comunicaciones, S.A.U. (Telyco) Spain EUR 8 100 % Telefónica de España, S.A.U. Telefónica Soluciones de Informática y Com. de España S.A.U. Spain EUR 2 100 % Telefónica de España, S.A.U. Telefónica Soluciones de Outsourcing, S.A. Spain EUR 1 100 % Telefónica Soluc. De Informática y Com. de España, S.A.U Telefónica Servicios Integrales de Distribución S.A.U. Spain EUR 2 100 % Telefónica de España, S.A.U. DTS Distribuidora de Televisión Digital, S.A. Spain EUR 80 100 % Telefónica de España, S.A.U. Telefónica Servicios Audiovisuales, S.A.U. Spain EUR 6 100 % Telefónica de Contenidos, S.A.U. Telefónica Broadcast Services, S.L.U. Spain EUR — 100 % Telefónica Servicios Audiovisuales, S.A.U. Telefónica United Kingdom Telefónica Europe plc UK GBP 9 100 % Telefónica, S.A. (99.99%) MmO2 plc UK GBP 20 100 % O2 Secretaries Ltd. (0.01%) O2 Holdings Ltd UK GBP 12 100 % Telefónica Europe plc Telefónica United Kingdom Ltd. UK GBP 10 100 % O2 Holdings Ltd. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica United Kingdom (cont.) Giffgaff Ltd UK GBP — 100 % Telefónica United Kingdom Ltd. O2 Networks Ltd. UK GBP — 100 % O2 Holdings Ltd. Cornerstone Telecomunications UK GBP — 50 % O2 Networks Ltd. (40%) Telefónica Germany Telefónica Deutschland Holding A.G Germany EUR 2,975 69.22 % Telefónica Germany Holdings Limited Telefónica Germany GmbH & Co. OHG Germany EUR 51 69.22 % Telefónica Deutschland Holding A.G (69.21%) E-Plus Services GmbH Germany EUR 288 69.22 % Telefónica Germany GmbH & Co. OHG Telefónica Germany Next GmbH Germany EUR — 69.22 % Telefónica Germany GmbH & Co. OHG Minodes GmbH Germany EUR — 69.22 % Telefónica Germany Next Gmbh Co-Trade GmbH Germany EUR — 69.22 % Telefónica Germany Retail Gm bh Telefónica Brazil Telefônica Brasil, S.A. Brazil BRL 63,571 73.68 % Telefónica Latinoamérica Holding, S.L. (24.18%) Terra Networks Brasil, S.A. Brazil BRL — 100 % Telefônica Data S.A. Telefónica Hispanoamérica Telefónica de Argentina, S.A. Argentina ARS 1,097 100 % Telefónica Móviles Argentina, S.A. (80.14%) Telefónica Móviles Argentina, S.A. Argentina ARS 278 100 % Telefónica, S.A. (73.20%) Telefónica Venezolana, C.A. Venezuela VEF 2,368,408 100 % Latin America Cellular Holdings, S.L. (97.04%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Hispanoamérica (cont.) Telefónica Móviles Chile, S.A. Chile CLP 1,257,872 100 % Inversiones Telefónica Móviles Holding Limitada (98.87%) Telefónica Chile, S.A. Chile CLP 570,535 99.14 % Telefónica Móviles Chile, S.A. Telefónica del Perú, S.A.A. Peru PEN 2,954 98.57 % Telefónica Latinoamérica Holding, S.L. (50.26%) Colombia Telecomunicaciones, S.A. ESP Colombia COP 3,410 67.50 % Telefónica Latinoamérica Holding, S.L. (51.52%) Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Colombia COP 83,191 63.77 % Colombia Telecomunicaciones, S.A. ESP (35.71%) Metropolitana de Telecomunicaciones S.A E.S.P Colombia COP 50,212 59.03 % Colombia Telecomunicaciones, S.A. ESP (30.89%) Operaciones Tecnológicas y Comerciales S.A.S Colombia COP 2,330 60.93 % Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P (24.37%) Telefónica Móviles México, S.A. de C.V. Mexico MXN 88,834 100 % Telefónica, S.A. Telefónica Móviles del Uruguay, S.A. Uruguay UYU 1,107 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Móviles Panamá, S.A. Panama USD 45 60 % Telefónica Centroamérica Inversiones, S.L. Telefónica Móviles El Salvador, S.A. de C.V. El Salvador USD 42 59.58 % Telefónica Centroamérica Inversiones S.L. (59.46%) Telefónica Móviles Guatemala, S.A. Guatemala GTQ 1,396 60 % Telefónica Centroamérica Inversiones S.L. (0.01%) Telefonía Celular de Nicaragua, S.A. Nicaragua NIO 247 60 % Telefónica Centroamérica Inversiones S.L. (59.99%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Telefónica Hispanoamérica (cont.) Otecel, S.A. Ecuador USD 183 100 % Telefónica Latinoamérica Holding, S.L. Telefónica de Costa Rica TC, S.A. Costa Rica CRC 203,511 100 % Telefónica, S.A. Terra Networks Perú, S.A. Peru PEN 10 100 % Telefónica Latinoamérica Holding, S.L. Terra Networks México, S.A. de C.V. Mexico MXN 305 100 % Terra Networks Mexico Holding, S.A. de C.V. Terra Networks Argentina, S.A. Argentina ARS 7 100 % Telefónica Latinoamérica Holding, S.L. (99.99%) Other Companies O2 International Holdings Ltd. UK GBP — 100 % O2 (Europe) Ltd. Telefónica Germany Holdings Ltd. UK EUR — 100 % O2 (Europe) Ltd. O2 (Europe) Ltd. UK EUR 1,239 100 % Telefónica, S.A. Telefónica International Holding, B.V Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Latinoamérica Holding, S.L. Spain EUR 237 100 % Telefónica, S.A. Telxius Telecom, S.A. Spain EUR 250 60 % Telefónica, S.A. Telxius Cable América, S.A. Uruguay USD 429 60 % Telxius Telecom, S.A. Telxius Cable España, S.L.U. Spain EUR 5 60 % Telxius Telecom, S.A. Telxius Cable República Dominicana, S.A.S. Republica Dominicana USD — 60 % Telxius Cable América, S.A. (59.40%) Telxius Cable Argentina, S.A. Argentina USD 78 60 % Telxius Cable América, S.A. (59.96%) Telxius Cable Panamá, S.A. Panama USD — 60 % Telxius Cable América, S.A. Telxius Cable Puerto Rico, Inc. Puerto Rico USD 24 60 % Telxius Cable América, S.A. Telxius Cable USA, Inc. US USD 58 60 % Telxius Cable América, S.A. Telxius Cable Ecuador, S.A. Ecuador USD 5 60 % Telxius Cable América, S.A. (59.99%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Telxius Cable Chile, S.A. Chile USD 37 60 % Telxius Cable América, S.A. Telxius Cable Guatemala, S.A. Guatemala USD 16 60 % Telxius Cable América, S.A. Telxius Cable Perú, S.A.C. Peru USD 20 60 % Telxius Cable América, S.A. Telxius Cable Colombia, S.A. Colombia USD 4 60 % Telxius Cable América, S.A. (56.99%) Telxius Cable Brasil Participaçoes, Ltda. Brazil USD 62 60 % Telxius Cable América, S.A. Telxius Cable Brasil, Ltda. Brazil USD 74 60 % Telxius Cable Brasil Partic ipaçoes, Ltda. Telxius Torres Latam, S.L.U. Spain EUR 8 60 % Telxius Telecom, S.A. Telxius Torres España, S.L.U. Spain EUR 10 60 % Telxius Telecom, S.A. Telxius Towers Germany, Gmbh. Germany EUR — 60 % Telxius Telecom, S.A. Telxius Torres Perú S.A.C. Peru PEN 104 60 % Telxius Torres Latam, S.L.U. Telxius Torres Chile Holding, S.A. Chile EUR 8 60 % Telxius Torres Latam, S.L.U. (59.99%) Telxius Torres Chile, S.A. Chile CLP 7,770 60 % Telxius Torres Chile Holding, S.A. Telxius Torres Brasil, Ltda. Brazil BRL 764 60 % Telxius Torres Latam, S.L.U. Telxius Torres Argentina, S.A. Argentina ARS 629 60 % Telxius Torres Latam, S.L.U. (57%) Latin American Cellular Holdings, S.L. Spain EUR — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica International Wholesale Services II, S.L. Spain EUR 231 100 % Telefónica, S.A Telefónica International Wholesale Services México, S.A. Mexico MXN 31 100 % Telefónica International Wholesale Services II, S.L. Telefónica Digital España, S.L. Spain EUR 15 100 % Telefónica, S.A Wayra Investigación y Desarrollo S.L. Spain EUR 2 100 % Telefónica Digital España, S.L. Telefónica Digital Inc. US USD — 100 % Telefónica Digital Ltd Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Wayra Chile Tecnología e Innovación Limitada Chile CLP 28,223 100 % Wayra Investigacion y Desarrollo, S.L. Wayra Brasil Aceleradora de Projetos Ltda. Brazil BRL 39 100 % Wayra Investigación y Desarrollo S.A.U. WY Telecom, S.A. de C.V. Mexico MXN 140 100 % Wayra Investigacion y Desarrollo, S.L. Wayra Argentina, S.A. Argentina ARS 56 100 % Telefónica Móviles Argentina, S.A. Wayra Colombia, S.A.S. Colombia COP 2,400 100 % Wayra Investigacion y Desarrollo, S.L. Proyecto Wayra, C.A. Venezuela VEF 13,805 100 % Telefónica Venezolana, C.A. Wayra Perú Aceleradora de Proyectos, S.A.C. Peru PEN 18 100 % Wayra Investigacion y Desarrollo, S.L. Wayra UK Ltd. t UK GBP — 100 % Wayra Investigación y Desarrollo, S.L. Axonix Ltd UK USD — 78 % Telefónica Digital Ltd Telfisa Global, B.V. Netherlands EUR — 100 % Telefónica, S.A. Telefónica Global Activities Holding, B.V. Netherlands EUR — 100 % Telfisa Global, B.V. Telefónica Global Services, GmbH Germany EUR — 100 % Group 3G UMTS Holding, GmbH Telefónica Global Roaming, GmbH Germany EUR — 100 % Telefónica Global Services, GmbH Group 3G UMTS Holding GmbH Germany EUR 250 100 % Telefónica Global Activities Holdings, B.V Telefónica Compras Electrónicas, S.L. Spain EUR — 100 % Telefónica Global Services, GmbH Telefónica de Contenidos, S.A.U. Spain EUR 226 100 % Telefónica, S.A. Telefónica On The Spot Services, S.A.U. Spain EUR — 100 % Telefónica de Contenidos, S.A.U. Telefónica Educación Digital, S.L. Spain EUR 1 100 % Telefónica Digital España, S.L. Telfin Ireland Ltd. Ireland EUR — 100 % Telefónica, S.A. Telefónica Ingeniería de Seguridad, S.A.U. Spain EUR 12 100 % Telefónica, S.A. Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Telefónica Engenharia de Segurança do Brasil Ltda Brazil BRL 131 99.99 % Telefónica Ingeniería de Seguridad, S.A. Telefónica Capital, S.A.U. Spain EUR 7 100 % Telefónica, S.A. Lotca Servicios Integrales, S.L. Spain EUR 17 100 % Telefónica, S.A. Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A Spain EUR 16 70 % Telefónica Capital, S.A. Fonditel Gestión, Soc. Gestora de Instituciones de Inversión Colectiva, S.A. Spain EUR 2 100 % Telefónica Capital, S.A. Telefónica Investigación y Desarrollo, S.A.U. Spain EUR 7 100 % Telefónica, S.A. Media Networks Latin America, S.A.C Peru PEN — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Luxembourg Holding, S.à.r.L. Luxembourg EUR 3 100 % Telefónica, S.A. Casiopea Reaseguradora, S.A. Luxembourg EUR 4 100 % Telefónica Luxembourg Holding, S.à.r.L. Nova Casiopea RE S.A. Luxembourg EUR 15 100 % Telefónica Luxembourg Holding, S.à.r.L. Telefónica Insurance, S.A. Luxembourg EUR 23 100 % Telefónica Luxembourg Holding, S.à.r.L. Seguros de Vida y Pensiones Antares, S.A. Spain EUR 51 100 % Telefónica, S.A. Telefónica Finanzas, S.A.U. Spain EUR 3 100 % Telefónica, S.A. Pléyade Peninsular, Correduría de Seguros y Reaseguros del Grupo Telefónica, S.A. Spain EUR — 100 % Telefónica Finanzas, S.A.U. (TELFISA) (83.33%) Fisatel Mexico, S.A. de C.V. Mexico MXN 3,505 100 % Telefónica, S.A. Telefónica Europe, B.V. Netherlands EUR — 100 % Telefónica, S.A. Telefónica Participaciones, S.A.U. Spain EUR — 100 % Telefónica, S.A. Telefónica Emisiones, S.A.U. Spain EUR — 100 % Telefónica, S.A. Telefónica Global Technology, S.A.U. Spain EUR 16 100 % Telefónica, S.A. Aliança Atlântica Holding B.V. Holding company Netherlands EUR 150 100 % Telefónica, S.A. (50%) Name and corporate purpose Country Currency Capital %Telefónica Group Holding Company Other Companies (cont.) Telefónica Transportes e Logística Ltda. Logistics services rendered Brazil BRL — 99.99 % Telefónica Data, S.A. (Brasil) Telefónica Serviços Empresariais do BRASIL, Ltda. Brazil BRL 35 99.99 % Telefónica Servicios Globales, S.L.U. Telefónica Gestión de Servicios Compartidos México, S.A. de C.V. Mexico MXN 50 100 % Telefónica Servicios Globales, S.L.U. Telefónica Gestión Logística, S.A.C Peru PEN 15 100 % Telefónica Servicios Globales, S.L.U. (99.49%) Telefónica Gestión Integral de Edificios y Servicios S.L. Spain EUR — 100 % Telefónica Servicios Globales, S.L.U. Tempotel, Empresa de Trabajo Temporal, S.A. Spain EUR — 100 % Telefónica Servicios Globales, S.L.U. O2 Worldwide Limited UK GBP — 100 % Telefónica, S.A. Synergic Partners, S.L. Spain EUR — 100 % Telefónica Digital España, S.L. Telefónica Innovación Alpha, S.L. Spain EUR — 100 % Telefónica, S.A. Telefónica Chile Holdings, S.L. Chile CLP — 100 % Telefónica, S.A. Telefónica Holding Atticus, B.V. Netherlands EUR — 100 % Telefónica Latinoamérica Holding, S.L. Telefónica Servicios Globales, S.L.U. Spain EUR 1 100 % Telefónica, S.A. Companies accounted for using the equity method Telefónica Factoring España, S.A. Spain EUR 5 50 % Telefónica, S.A. Telefónica Factoring Do Brasil, Ltd. Brazil BRL 5 50 % Telefónica, S.A. (40.00%) Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Mexico MXN 34 50 % Telefónica, S.A. (40.50%) Telefónica Factoring Perú, S.A.C. Peru PEN 6 50 % Telefónica, S.A. (40.50%) Telefónica Factoring Colombia, S.A. Colombia COP 4,000 50 % Telefónica, S.A. (40.50%) Mobile Financial Services Holding SPRL Belgica USD 190 50 % Telefónica Internacional Holding, B.V (26.28%) Telefónica Consumer Finance, Establecimiento Financiero de Crédito, S.A. Spain EUR 5 50 % Telefónica, S.A. Tesco Mobile Ltd. UK GBP — 50 % O2 Communication Ltd. The Smart Steps Data Technology Company China CNY — 45 % Telefónica Digital España, S.L. Main changes in the scope of consolidation for the year 2017 Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Other companies Telxius Torres Argentina, S.A. Argentina 05/31/2017 60 % Acquired companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Germany Minodes GmbH Germany 05/31/2017 69.22 % Co-Trade GmbH Germany 10/31/2017 69.22 % Acquisition of control Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Hispanoamérica Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Colombia 09/30/2017 63.77 % Metropolitana de Telecomunicaciones S.A E.S.P Colombia 09/30/2017 59.03 % Operaciones Tecnológicas y Comerciales S.A.S Colombia 09/30/2017 60.93 % Sold companies Companies/Segment/Subsidiaries Country Date of deconsolidated % Sold Telefónica Hispanoamérica Compañía Señales del Norte, S.A. de C.V Mexico 12/31/2017 100 % Other companies Telefónica Gestión de Servicios Compartidos Perú, S.A.C. Peru 10/31/2017 100 % Merged companies Companies/Segment/Subsidiaries Country Date Surviving company Telefónica Spain Telefónica Telecomunicaciones Públicas, S.A.U. Spain 05/29/2017 Telefónica de España, S.A.U. Tuenti Technologies, S.L. Spain 10/31/2017 Telefónica Móviles España, S.A.U. Iberbanda, S.A. Spain 10/31/2017 Telefónica de España, S.A.U. Telefónica Studios S.L. Spain 09/30/2017 Telefónica Telefónica Germany E-Plus Mobilfunk GmbH &Co. KG, GmbG Germany 07/31/2017 E-Plus Services GmbH Telefónica Hispanoamérica Compañía Internacional de Telecomunicaciones, S.A. Argentina 05/31/2017 Telefónica Móviles Argentina, S.A. Telefónica Móviles Argentina Holding, S.A. Argentina 05/31/2017 Telefónica Móviles Argentina, S.A. Telefónica Móviles Chile, S.A. Chile 05/31/2017 Inversiones Telefónica Móviles Holding, S.A. Other companies Telefónica Datacorp, S.A.U Spain 09/30/2017 Telefónica Latinoamérica Holding, S.L. Eyeos, S.L Spain 09/30/2017 Telefónica Investigación y Desarrollo, S.A.U. Telefónica International Wholesale Services, S.L. Spain 12/31/2017 Telefónica International Wholesale Services II, S.L. Wayra Ireland Ltd Ireland 12/31/2017 Wayra Investigación y Desarrollo S.L Companies liquidation Companies/Segment/Subsidiaries Country Date of deconsolidated % Participation Other companies Saluspot Spain, S.L. Spain 12/31/2017 65 % Operations with minority interests Companies/Segment/Subsidiaries Country Date % Participation after operation Telefónica Germany Telefónica Deutschland Holding A.G Germany 03/31/2017 69.22 % Other companies Telxius Telecom, S.A. Spain 12/31/2017 60 % Main changes in the scope of consolidation for the year 2016 Constitution of new companies Companies/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Spain Telecomunicaciones Personalizadas, S.L.U Telecommunications service provider Spain 09/30/2016 100 % Other companies Telxius Torres Latam, S.L.U. Any type of infrastructures and/or communications networks institution and operation Spain 04/30/2016 100 % Telxius Torres España, S.L.U. Any type of infrastructures and/or communications networks institution and operation Spain 02/29/2016 100 % Telxius Towers Germany, Gmbh. Any type of infrastructures and/or communications networks institution and operation Germany 02/29/2016 100 % Acquired companies Company/Segment/Subsidiaries Country Date of inclusion % Acquisition Telefónica Spain Nova Casiopea RE S.A. Reinsurance Luxembourg 10/31/2016 100 % Saluspot Spain, S.L. (*) Medical services and articles through internet provider Spain 05/31/2016 65 % (*) In 2016 Healthcommunity, S.L., in which the Group holds a 50% stake and which is consolidated using the equity method, was spun off into two companies: Saluspot Spain, S.L and Salupro Spain, S.L. After completing the spin off process, the Group held 65% of the equity in Saluspot Spain, S.L and transferred its stake to Salupro Spain, S.L. Saluspot Spain, S.L is was included in the scope of consolidation using the full consolidation method. Sold companies Company/Segment/Subsidiaries Country Date of deconsolidated % Sold Telefónica Spain Telecomunicaciones Personalizadas, S.L.U Telecommunications service provider Spain 12/31/2016 100 % Other companies Televisión Federal S.A.- TELEFE Provision and operation TV and radio broadcasting-services Argentina 11/30/2016 100 % Atlántida Comunicaciones, S.A. Participation in public media Argentina 11/30/2016 100 % Telefónica Media Argentina, S.A. Participation in public media Argentina 11/30/2016 100 % Vocem 2013 Teleservicios, S.A. Call center services Venezuela 06/31/2016 100 % Telefónica Gestión de Servicios Compartidos Argentina, S.A. Management and administrative services rendered Argentina 03/31/2016 100 % Telefónica Gestión de Servicios Compartidos España, S.A. Management and administrative services rendered Spain 03/31/2016 100 % Merged companies Company/Segment/Subsidiaries Country Date Surviving company Telefónica Brazil GVT Participaçoes Holding company Brazil 04/01/2016 Telefônica Brasil, S.A. Other companies Telefónica Internacional, S.A.U. Holding Company Spain 10/31/2016 Telefónica Latinoamérica Holding, S.L. |
Appendix II_ Board and Senior60
Appendix II: Board and Senior Management Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Compensation [Abstract] | |
Schedule of Key Management Personnel Compensation | Compensation of the Board of Directors and of the Committees thereof Amounts in euros Position Board of Directors Executive Commission Advisory or Control Committees (*) Chairman 240,000 80,000 22,400 Vice chairman 200,000 80,000 — Executive Member — — — Proprietary Member 120,000 80,000 11,200 Independent Member 120,000 80,000 11,200 Other external 120,000 80,000 11,200 (*) In addition, the amount of the attendance fee for each of the meetings of the Advisory or Control Committees is 1,000 euros. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. José María Álvarez-Pallete López 1,923,100 — — 3,430,430 — 5,802 5,359,332 Mr. Isidro Fainé Casas — 200,000 — — 80,000 — 280,000 Mr. José María Abril Pérez — 200,000 7,000 — 91,200 — 298,200 Mr. Ángel Vilá Boix 7 697,490 — — — — 7,341 704,831 Ms. Eva Castillo Sanz — 120,000 27,000 — 33,600 — 180,600 Mr. Juan Ignacio Cirac Sasturain — 120,000 9,000 — 11,200 — 140,200 Mr. José Javier Echenique Landiríbar — 120,000 18,000 — 109,867 — 247,867 Mr. Peter Erskine — 120,000 17,000 — 113,600 — 250,600 Ms. Sabina Fluxà Thienemann — 120,000 10,000 — 11,200 — 141,200 Mr. Luiz Fernando Furlán — 120,000 5,000 — 7,467 — 132,467 Ms. Carmen García de Andrés 7 — 78,667 8,000 — 12,009 — 98,676 Mr. Peter Löscher — 120,000 9,000 — 11,200 — 140,200 Mr. Ignacio Moreno Martínez — 120,000 28,000 — 38,267 — 186,267 Mr. Francisco Javier de Paz Mancho — 120,000 34,000 — 124,800 — 278,800 Mr. Francisco José Riberas Mera 7 — 78,667 — — — — 78,667 Mr. Wang Xiaochu — 120,000 — — — — 120,000 1 Salary: Regarding Mr. José María Álvarez-Pallete López, it includes the amount of non-variable payments and that which the Board Member has received for his executive tasks. Regarding Mr. Ángel Vilá Boix, he was appointed Board Member of the Company on July 26, 2017, including from this date the amount of non-variable payments and that which the Board Member has received for his executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Board, regardless of the effective attendance of the Board Member to the Board meetings. 3 Allowance: Total amount of the allowances for attending the meetings of the Advisory or Control Committees. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or the achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017. With regard to the bonus corresponding to 2017, and which will be paid in 2018, Executive Board Member Mr. José María Álvarez-Pallete López will earn 3,426,964 euros and Executive Board Member Mr. Ángel Vilá Boix will earn 990,000 euros (the Bonus of Mr. Vilá only includes the amount accrued since his appointment as Director of the Company, on July 26, 2017). 5 Remuneration for membership to the Board Committees: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Delegated Committee and to the Advisory or Control Committees, regardless of the effective attendance of the Board Member to the Advisory or Control Committee meetings. 6 Other items: Among others, it includes the amounts received in concept of payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by Telefónica, S.A. 7 Ms. Carmen García de Andrés and Mr. Francisco José Riberas Mera were appointed Board Members of the Company on May 4, 2017, and Mr. Ángel Vilá Boix was appointed Board Member on July 26, 2017, reflecting, therefore, the received payment, respectively, from the dates mentioned. Likewise, Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. César Alierta Izuel — 213,556 — — — 169 213,725 Mr. Gonzalo Hinojosa Fernández de Angulo — 41,333 4,000 — 46,845 — 92,178 Mr. Pablo Isla Álvarez de Tejera — 41,333 — — 3,858 — 45,191 Mr. Julio Linares López — 116,667 11,000 — 19,600 — 147,267 Mr. Antonio Massanell Lavilla — 120,000 30,000 — 56,000 — 206,000 1 Salary: Includes the amount of non-variable payments and that which the Board Member has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Board, regardless of the effective attendance of the Board Member to the Board meetings. 3 Allowance: Total amount of the allowances for attending the meetings of the Advisory or Control Committees. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017. 5 Remuneration for membership to the Board Committees: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the Delegated Committee and to the Advisory or Control Committees, regardless of the effective attendance of the Board Member to the Advisory or Control Committee meetings. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental coverage), fulfilled by Telefónica, S.A. Likewise, specifying the figures included in the previous box, the payment received by the Board Members of Telefónica for their membership to the different Advisory or Control Committees during 2017 is specifically detailed below, including both fixed allocation and attendance allowances. ADVISORY OR CONTROL COMMITTEES OF TELEFÓNICA, S.A. (Amounts in euros) Directors Audit and Control Nominating, Compensation and Corporate Governance Service Quality and Customer Service Strategy and Innovation Regulation and Institutional Affairs TOTAL 2017 Mr. José María Álvarez-Pallete López — — — — — — Mr. Isidro Fainé Casas — — — — — — Mr. José María Abril Pérez — — — 18,200 — 18,200 Mr. Ángel Vilá Boix — — — — — — Ms. Eva Castillo Sanz — — 17,200 22,200 21,200 60,600 Mr. Juan Ignacio Cirac Sasturain — — — 20,200 — 20,200 Mr. José Javier Echenique Landiríbar 34,400 13,467 — — — 47,867 Mr. Peter Erskine — 19,200 — 31,400 — 50,600 Ms. Sabina Fluxà Thienemann — 21,200 — — — 21,200 Mr. Luiz Fernando Furlán — 12,467 — — — 12,467 Ms. Carmen García de Andrés 13,342 — 6,667 — — 20,009 Mr. Peter Löscher — — — 20,200 — 20,200 Mr. Ignacio Moreno Martínez 22,200 — 17,200 — 26,867 66,267 Mr. Francisco Javier de Paz Mancho 23,200 33,400 — — 22,200 78,800 Mr. Francisco José Riberas Mera — — — — — — Mr. Wang Xiaochu — — — — — — Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Audit and Control Nominating, Compensation and Corporate Governance Service Quality and Customer Service Strategy and Innovation Regulation and Institutional TOTAL 2017 Mr. César Alierta Izuel — — — — — — Mr. Gonzalo Hinojosa Fernández de Angulo 4,858 5,858 3,858 3,858 4,858 23,290 Mr. Pablo Isla Álvarez de Tejera — 3,858 — — — 3,858 Mr. Julio Linares López — — 9,533 — 21,067 30,600 Mr. Antonio Massanell Lavilla 23,200 — 28,400 15,200 19,200 86,000 The following table breaks down the amounts received from other companies of the Telefónica Group other than Telefónica, S.A. individually, by the Board Members of the Company, by the performance of executive duties or by their membership to the Board of Directors of said companies: OTHER COMPANIES OF THE TELEFÓNICA GROUP (Amounts in euros) Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. José María Álvarez-Pallete López — — — — — — — Mr. Isidro Fainé Casas — — — — — — — Mr. José María Abril Pérez — — — — — — — Mr. Ángel Vilá Boix — — — — — — — Ms. Eva Castillo Sanz — 80,000 — — — — 80,000 Mr. Juan Ignacio Cirac Sasturain — — — — — — — Mr. José Javier Echenique Landiríbar — — — — — — — Mr. Peter Erskine — 12,403 — — — — 12,403 Ms. Sabina Fluxà Thienemann — — — — — — — Mr. Luiz Fernando Furlán — 98,418 — — — — 98,418 Ms Carmen García de Andrés — — — — — — — Mr. Peter Löscher — — — — — — — Mr. Ignacio Moreno Martínez — — — — — — — Mr. Francisco Javier de Paz Mancho — 285,464 — — — — 285,464 Mr. Francisco José Riberas Mera — — — — — — — Mr. Wang Xiaochu — — — — — — — 1 Salary: Amount of non-variable payments and that which the Board Member of other companies of the Telefónica Group has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the board of directors of other Companies of the Telefónica Group. It is hereby clarified that Mr. Eva Castillo Sanz has accrued an amount of 80,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. Likewise, Mr. Peter Erskine has accrued an amount of 20,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. Likewise, Mr. Ángel Vilá Boix has accrued an amount of 2,000 euros during 2017, for his membership to the Supervisory Board of Telefónica Deutschland Holding, A.G. On the drawing date of this document, none of the amounts mentioned have been paid, which is why they have not been consigned in the box (that only includes amounts received in 2017). 3 Allowance: Total amount of the allowances for attending the board of director meetings of other Companies of the Telefónica Group. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017, by other companies of the Telefónica Group. 5 Remuneration for membership to the Board Committees of other companies of the Telefónica Group: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and accrued by the Board Member for their membership to the board of directors committees of other Companies of the Telefónica Group. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by other companies of the Telefónica Group. Likewise, Mr. César Alierta Izuel, Mr. Gonzalo Hinojosa Fernández de Angulo, and Mr. Pablo Isla Álvarez de Tejera, stood down as Board Members on May 4, 2017, Mr. Julio Linares López stood down as Board Member on July 26, 2017, and Mr. Antonio Massanell Lavilla stood down as Board Member on December 21, 2017, reflecting below the payment received by them, respectively, in 2017 until the dates mentioned. Directors Salary 1 Fixed compen-sation 2 Attendance fees 3 Short-term variable compensation 4 Compensation for belonging to Committees of the Board 5 Other items 6 Total Mr. César Alierta Izuel — — — — — — — Mr. Gonzalo Hinojosa Fernández de Angulo — 9,125 — — — — 9,125 Mr. Pablo Isla Álvarez de Tejera — — — — — — — Mr. Julio Linares López — — — — — — — Mr. Antonio Massanell Lavilla — — — — — — — 1 Salary: Amount of non-variable payments and that which the Board Member of other companies of the Telefónica Group has received for their executive tasks. 2 Fixed remuneration: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and received by the Board Member for their membership to the board of directors of other Companies of the Telefónica Group. 3 Allowance: Total amount of the allowances for attending the board of director meetings of other Companies of the Telefónica Group. 4 Short-term variable remuneration (bonus): Variable amount linked to the performance or achievement of a series of individual or group objectives (quantitative or qualitative) in a period equal to or less than one year, corresponding to 2016 and paid in 2017, by other companies of the Telefónica Group. 5 Remuneration for membership to the Board Committees of other companies of the Telefónica Group: Amount of the compensation in cash, with a pre-established payment period, whether or not consolidated at the time and accrued by the Board Member for their membership to the board of directors committees of other Companies of the Telefónica Group. 6 Other items: Among others, it includes the amounts received under payment in kind (general medical insurance and dental and vehicle coverage), fulfilled by other companies of the Telefónica Group. |
Schedule of Long-term Savings Systems of Key Management Personnel Compensation | LONG-TERM SAVINGS SYSTEMS (Amounts in euros) Directors Contributions for fiscal year 2017 Mr. José María Álvarez-Pallete López 673,085 Mr. Ángel Vilá Boix (since July 26, 2017) 268,922 The breakdown of the long-term saving systems includes contributions to Pension Plans, to the Benefit Plan and to the Unit link-type Insurance, as set out below: (Amounts in euros) Directors Contributions to Pension Plans Contributions to Benefits Plan 1 Contributions to Unit link-type Insurance/Pension Plan Surplus Mr. José María Álvarez-Pallete López 6,060 540,968 126,057 Mr. Ángel Vilá Boix (since July 26,2017) — 212,665 56,257 1 Contributions to the Executive Benefits Plan in 2006, funded solely by the Company, to supplement the Pension Plan in effect, which entails defined contributions equal to a particular percentage of the Officer’s fixed compensation based on professional levels within the Telefónica Group’s organization. |
Schedule of Life Insurance Premiums of Key Management Personnel Compensation | LIFE INSURANCE PREMIUMS (Amounts in euros) Directors Life insurance premiums Mr. José María Álvarez-Pallete López 14,270 Mr. Ángel Vilá Boix (since July 26,2017) 7,759 Mr. César Alierta Izuel (until May 4,2017) 855 |
Schedule of PIP of Key Management Personnel Compensation | PIP - Second phase / 2015-2018 Directors Theoretical shares allocated (without co-investment) Maximum number of shares (*) Mr. José María Álvarez-Pallete López 192,000 300,000 Mr. Ángel Vilá Boix 120,000 187,500 Mr. César Alierta Izuel 324,000 506,250 (*) Maximum possible number of shares to be received in case of meeting the co-investment requirement and maximum completion of TSR target. Mr. César Alierta Izuel ceased his position as Director on May 4, 2017. |
Appendix III_ Debentures and 61
Appendix III: Debentures and Bonds (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Appendix III: Debentures and Bonds [Abstract] | |
Schedule of Maturity of Debentures and Bonds | T he breakdown of financial liabilities at December 31, 2017 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2018 2019 2020 2021 2022 Subsequent years Non-current total Total Debentures and bonds 5,313 3,599 5,108 4,760 4,903 17,605 35,975 41,288 Promissory notes & commercial paper 2,107 — 112 — — 187 299 2,406 Total Issues 7,420 3,599 5,220 4,760 4,903 17,792 36,274 43,694 Loans and other payables 1,714 2,250 819 918 531 2,668 7,186 8,900 Derivative instruments (Note 16) 280 214 824 453 185 1,196 2,872 3,152 Total 9,414 6,063 6,863 6,131 5,619 21,656 46,332 55,746 The detail and key features of outstanding debentures and bonds at December 31, 2017 are as follows (in millions of euros): Total Telefónica and its instrumental companies Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total T. EUROPE BV SEP_00 BOND GLOBAL D USD 8.250 % — — — — — 1,042 1,042 TEBV FEB_03 EMTN FIXED TRANCHE B EUR 5.875 % — — — — — 500 500 Telefónica Europe, B.V. — — — — — 1,542 1,542 EMTN O2 GBP GBP 5.375 % 845 — — — — — 845 EMTN O2 GBP GBP 5.375 % — — — — — 563 563 TELEF EMISIONES JUNE 06 TRANCHE D USD 7.045 % — — — — — 1,667 1,667 TELEF EMISIONES JANUARY 07 A EUR 1 x EURIBOR6M + 0.83000% — — — 55 — — 55 TELEF EMISIONES JANUARY 07 B EUR 1 x EURIBOR3M + 0.70000% 24 — — — — — 24 TELEF EMISIONES MAY 2014 EUR 2.242 % — — — — 1,250 — 1,250 TELEF EMISIONES JULY 15, 2019 USD 5.877 % — 834 — — — — 834 TELEF EMISIONES NOVEMBER 11, 2019 EUR 4.693 % — 1,750 — — — — 1,750 EMTN GBP 12/09/2022 650 GBP GBP 5.289 % — — — — 732 — 732 TELE EMISIONES APRIL 3 2010 USD 5.134 % — — 1,168 — — — 1,168 EMTN GBP 10/08/2029 400 GBP GBP 5.445 % — — — — — 451 451 TELEF EMISIONES FEBRUARY 2011 USD 5.462 % — — — 1,251 — — 1,251 TELEF. EMISIONES FEBRUARY 2012 EUR 4.797 % 1,500 — — — — — 1,500 TELEF. EMISIONES FEBRUARY 2012 GBP 5.597 % — — 788 — — — 788 TELEF. EMISIONES JUNE 2013 JPY 4.250 % 74 — — — — — 74 TELEF. EMISIONES OCTOBER 2012 EUR 4.710 % — — 1,200 — — — 1,200 TELEF. EMISIONES DECEMBER 2012 CHF 2.718 % 213 — — — — — 213 TELEF. EMISIONES DECEMBER 2012 CHF 3.450 % — — — — 128 — 128 TELEF EMISIONES JANUARY 2013 EUR 3.987 % — — — — — 1,500 1,500 Maturity (nominal) Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total TELEF. EMISIONES MARCH 2013 EUR 3.961 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2013 USD 3.192 % 1,042 — — — — — 1,042 TELEF EMISIONES APRIL 2013 USD 4.570 % — — — — — 625 625 TELEF. EMISIONES MAY 2013 EUR 2.736 % — 750 — — — — 750 TELEF. EMISIONES OCTOBER 2014 EUR 2.932 % — — — — — 800 800 TELEF. EMISIONES OCTOBER 2013 CHF 2.595 % — — 192 — — — 192 TELEF EMISIONES JULY 2015 EUR 1 x EURIBOR6M +0.83% — — — — 67 — 67 TELEF. EMISIONES SEPTEMBER 2015 EUR 1.477 % — — — 1,000 — — 1,000 TELEF EMISIONES APRIL 2016 EUR 0.750 % — — — — 1,400 — 1,400 TELEF EMISIONES APRIL 2016 EUR 1.460 % — — — — — 1,350 1,350 TELEF. EMISIONES OCTOBER 2016 EUR 0.318 % — — 1,250 — — — 1,250 TELEF. EMISIONES OCTOBER 2016 EUR 1.930 % — — — — — 750 750 TELEF. EMISIONES DECEMBER 2016 EUR 4.000 % — — — — — 150 150 TELEF. EMISIONES JANUARY 2017 EUR 1 x EURIBOR3M +0.40% — 150 — — — — 150 TELEF. EMISIONES JANUARY 2017 EUR 1.528 % — — — — — 1,250 1,250 TELEF. EMISIONES JANUARY 2017 EUR 2.318 % — — — — — 500 500 TELEF. EMISIONES MARCH 2017 USD 4.103 % — — — — — 1,251 1,251 TELEF. EMISIONES MARCH 2017 USD 5.213 % — — — — — 1,668 1,668 TELEF. EMISIONES MARCH 2017 EUR 2.318 % — — — — — 200 200 TELEF. EMISIONES APRIL 2017 USD 4.900 % — — — — — 167 167 TELEF. EMISIONES APRIL 2017 USD 5.213 % — — — — — 417 417 TELEF. EMISIONES SEPTEMBER 2017 EUR 1.715 % — — — — — 1,250 1,250 Telefónica Emisiones, S.A.U. 3,698 3,484 4,598 3,306 3,577 14,559 33,222 Exchangeable Bond MARCH 2016 (*) EUR — — — — 600 — — 600 Telefónica Participaciones — — — — 600 — — 600 Total Telefónica, S.A. and its instrumental companies 3,698 3,484 4,598 3,906 3,577 16,101 35,364 (*) Issue of non-dilutive cash-settled equity-linked bonds referenced to Telefónica share price, with a nominal amount of 600 million euros, issue price of 101.25% and maturing in March 2021. Foreign operators Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Bond Q CLP 5.750 % — 64 — — — — 64 Bond T CLP 4.900 % — — 13 26 — 26 65 144A Bond USD 3.875 % — — — — 417 — 417 Telefónica Chile, S.A. — 64 13 26 417 26 546 Bond F UF 3.600 % — — — — — 109 109 Bond G UF 2.200 % — — 73 — — — 73 Bond I UF 1.950 % — — 73 — — — 73 Bond K CLP 4.900 % — — — 128 — — 128 Maturity Debentures and bonds Currency % Interest rate 2018 2019 2020 2021 2022 Subsequent years Total Telefónica Móviles Chile, S.A. — — 146 128 — 109 383 T. Finanzas Mex 0710 FIX MXN 8.070 % — — 83 — — — 83 Telefónica Finanzas México, S.A. — — 83 — — — 83 Bond T. Peru 4th Program (19th Serie A) N. SOL VAC + 3.6250% — — — — — 22 22 Bond T. Peru 4th Program (12th Serie A) N. SOL VAC + 3.6875% — 21 — — — — 21 Bond T. Peru 4th Program (36th Serie B) N. SOL VAC + 3.3750% 17 — — — — — 17 Bond T. Peru 4th Program (19th Serie B) N. SOL VAC + 2.8750% — — — — — 17 17 Bond T. Peru 4th Program (37th Serie A) N. SOL VAC + 3.1250% — — — — — 16 16 Bond T. Peru 4th Program (19th Serie C) N. SOL VAC + 3.1875% — — — — — 7 7 Bond T. Peru 5th Program (22nd Serie Ab) N. SOL VAC + 3.5000% — 4 — — — — 4 Bond T. Peru 5th Program (22nd Serie Ac) N. SOL VAC + 3.5000% — — — 8 — — 8 Bond T. Peru 6th Program (11th Serie A) N. SOL 6.656 % — — — — — 67 67 Bond T. Peru 6th Program (11th Serie B) N. SOL 6.190 % — — — — — 31 31 Bond T. Peru 6th Program (12th Serie A) N. SOL 5.060 % — — 28 — — — 28 Bond T. Peru 6th Program (13th Serie A) N. SOL 5.500 % — — — — 36 — 36 Bond T. Peru 6th Program (14th Serie A) N. SOL 5.340 % — — — — 26 — 26 Bond T. Peru 6th Program (15th Serie A) N. SOL 5.470 % — — — — — 34 34 Bond TM Peru 2nd Program (11th Serie B) N. SOL 7.375 % 15 — — — — — 15 Bond TM Peru 2nd Program (27th Serie A) N. SOL 5.531 % — 13 — — — — 13 Telefónica del Perú, S.A. 32 38 28 8 62 194 362 Nonconvertible bonds BRL 1.0 XCDI + 0.68% 328 — — — — — 328 Nonconvertible bonds BRL 1.0825 XCDI — — — 252 252 — 504 Nonconvertible bonds BRL 1.0 XCDI + 0.24% — — 252 — — — 252 Nonconvertible bonds BRL 1 XIPXA +4 — 10 — — — — 10 Nonconvertible bonds ( Telemig) I BRL IPCA + 0.5% 1 1 1 1 — — 4 Nonconvertible bonds ( Telemig) II BRL IPCA + 0.5% 2 2 2 2 — — 8 Nonconvertible bonds ( Telemig) III BRL IPCA + 0.5% 3 3 3 3 — — 12 Telefônica Brasil, S.A. 334 16 258 258 252 — 1,118 BOND R144-A USD 5.375 % — — — — 625 — 625 Colombia Telecomunicaciones, S.A, ESP — — — — 625 — 625 Bond EUR 1.875 % 600 — — — — — 600 Bond EUR 2.375 % — — — 500 — — 500 O2 Telefónica Deutschland Finanzierungs, GmbH 600 — — 500 — — 1,100 Total Outstanding Debentures and Bonds Foreign operators 966 118 528 920 1,356 329 4,217 Total Outstanding Debentures and Bonds 4,664 3,602 5,126 4,826 4,933 16,430 39,581 |
Schedule of Detailed Information about Debt | Interest-bearing debt arranged or repaid in 2017 mainly includes the following: Description Limit 12/31/2017 (million euros) Currency Outstanding balance 12/31/2017 (million euros) Arrangement date Maturity date Drawndown 2017 (million euros) Repayment 2017 (million euros) Telefónica, S.A. Syndicated facility 2,500 EUR — 02/19/2015 02/19/2022 — (550 ) Syndicated facility (1) — EUR — 11/17/2015 03/30/2017 — — Structured financing (*) 679 USD 566 12/11/2015 03/11/2026 329 (48 ) Structured financing (*) 469 EUR 423 12/11/2015 03/11/2026 217 (34 ) Structured financing (2)(*) — EUR — 06/13/2014 12/15/2017 (185 ) Bilateral loan (3) — EUR — 02/23/2016 02/23/2017 — (100 ) Bilateral loan (4) — EUR — 11/13/2015 05/16/2017 — (100 ) Bilateral loan (5) 1,500 EUR 1,500 06/26/2014 06/26/2019 — — Bilateral loan (6) — EUR 06/30/2015 12/29/2017 — (200 ) Bilateral loan (7) 150 EUR 150 10/24/2016 03/19/2019 — (150 ) Credit facility 380 EUR 292 12/27/2002 12/27/2020 292 — Credit facility 200 EUR 167 03/27/2013 03/14/2020 167 — Telefónica Germany GmbH & Co. OHG Syndicated facility (8) 750 EUR — 03/22/2016 03/22/2022 650 (700 ) EIB Financing — EUR 450 06/13/2016 06/13/2025 200 — Telefónica Europe, B.V. Structured financing (*) 750 EUR 750 11/28/2016 11/28/2024 750 — (1) On March 30, 2017 an early cancellation was made for the 1,500 million euros syndicated facility originally scheduled to mature in 2019. (2) On December 15, 2017 an early repayment was made for the long-term financing originally scheduled to mature in 2019. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On May 16, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2020. (5) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (6) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (7) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (8) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule showing in the column "Limit 12/31/2017" the undrawn amount. The main debentures and bonds issued by the Group in 2017 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 01/17/2017 01/17/2025 1,250 1,250 EUR 1.528 % EMTN Bond 01/17/2017 10/17/2028 500 500 EUR 2.318 % EMTN Bond 01/25/2017 01/25/2019 150 150 EUR EURIBOR 3M + 0.40% SHELF Bond 03/08/2017 03/08/2027 1,500 1,251 USD 4.103 % SHELF Bond 03/08/2017 03/08/2047 2,000 1,667 USD 5.213 % EMTN Bond (Retap) 03/17/2017 10/17/2028 200 200 EUR 2.318 % EMTN Bond 04/18/2017 04/18/2037 200 167 USD 4.900 % SHELF Bond (Retap) 04/28/2017 03/08/2047 500 417 USD 5.213 % EMTN Bond 09/12/2017 01/12/2028 1,250 1,250 EUR 1.715 % Telefónica Brasil, S.A. Debentures 02/08/2017 02/08/2022 2,000 504 BRL 108.25% CDI Debentures 11/27/2017 11/27/2020 1,000 252 BRL 100% CDI + 0.24% The main financing transactions at December 31, 2017 and 2016 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2017 12/31/2016 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 153 USD 128 190 05/03/2011 07/30/2021 Structured Financing (*) 551 USD 460 635 02/22/2013 01/31/2023 Structured Financing (*) 446 USD 371 505 08/01/2013 10/31/2023 Bilateral (1) 1,500 EUR 1,500 1,500 06/26/2014 06/26/2019 Syndicated facility 2,500 EUR — 550 02/19/2015 02/19/2022 Bilateral (2) — EUR — 200 06/30/2015 12/29/2017 Structured Financing (*) 679 USD 566 324 12/11/2015 03/11/2026 Structured Financing (*) 469 EUR 423 240 12/11/2015 03/11/2026 Bilateral loan (3) — EUR — 100 02/23/2016 02/23/2017 Bilateral loan 100 EUR 100 100 02/23/2016 02/23/2021 Loan 300 EUR 300 300 03/08/2016 03/08/2021 Bilateral loan (4) 150 EUR 150 300 10/24/2016 03/19/2019 Credit 380 EUR 292 — 12/27/2002 12/27/2020 Credit 200 EUR 167 — 03/27/2013 03/14/2020 Telefónica Germany GmbH & Co. OHG Syndicated facility (5) 750 EUR — 50 03/22/2016 03/22/2022 EIB Financing — EUR 450 250 06/13/2016 06/13/2025 Telefónica Europe, B.V. Structured Financing (*) 750 EUR 750 — 11/28/2016 11/28/2024 ( 1) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (2) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (5) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount. |
Appendix IV_ Financial Instru62
Appendix IV: Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Appendix IV: Financial Instruments [Abstract] | |
Schedule of Detailed Information about Financial Instruments | The detail of the type of financial instruments arranged by the Group (notional amount) by currency and interest rates at December 31, 2017 is as follows: Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Euro (227 ) 6,238 6,055 7,062 3,382 16,845 39,355 25,568 14,590 40,158 Floating rate 2,861 1,542 157 3,519 508 3,443 12,030 2,474 9,666 12,140 Spread (0.20 %) 0.15 % (1.92 %) (0.10 %) 0.17 % 0.18 % (0.02 %) — — — Fixed rate (3,088 ) 4,696 5,898 3,543 2,874 13,402 27,325 23,094 4,924 28,018 Interest rate (2.09 %) 2.18 % 3.28 % 2.02 % 1.62 % 1.95 % 2.71 % — — — Rate cap — — — — — — — — — — Other european currencies Instruments in CZK (67 ) — — — — — (67 ) — (67 ) (67 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (67 ) — — — — — (67 ) — (67 ) (67 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in GBP 2,324 (567 ) (394 ) — 733 1,014 3,110 3,372 (236 ) 3,136 Floating rate 456 (479 ) (439 ) 79 442 451 510 6 506 512 Spread — — — — — — — — — — Fixed rate 1,868 (88 ) 45 (79 ) 178 563 2,487 3,253 (742 ) 2,511 Interest rate 2.28 % 4.03 % 65.20 % 0.03 % 5.12 % 5.38 % 4.33 % — — — Rate cap — — — — 113 — 113 113 — 113 Instruments in CHF — — — — — — — 583 (584 ) (1 ) Floating rate — — — — — — — — (2 ) (2 ) Spread — — — — — — — — — — Fixed rate — — — — — — — 583 (582 ) 1 Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — America Instruments in USD (1,915 ) 286 229 (1,659 ) 614 2,525 80 17,812 (17,515 ) 297 Floating rate (559 ) 242 228 (1,659 ) 630 1,834 716 659 55 714 Spread (0.27 %) 0.29 % 0.99 % (0.07 %) 0.01 % — 0.78 % — — — Fixed rate (1,356 ) 44 1 — (16 ) 691 (636 ) 17,153 (17,570 ) (417 ) Interest rate (1.27 %) 43.21 % 1,747.03 % — (186.47 %) 11.24 % (25.26 %) — — — Rate cap — — — — — — — — — — Instruments in UYU 16 — — — — — 16 (5 ) 19 14 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 16 — — — — — 16 (5 ) 19 14 Interest rate (0.67 %) — — — — — (0.67 %) — — — Rate cap — — — — — — — — — — Instruments in ARS (159 ) 24 — — — (14 ) (149 ) (141 ) — (141 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (159 ) 24 — — — (14 ) (149 ) (141 ) — (141 ) Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Interest rate 5.09 % 16.22 % — — — 16.27 % 4.35 % — — — Rate cap — — — — — — — — — — Instruments in BRL 317 346 373 333 253 73 1,695 818 881 1,699 Floating rate (690 ) 126 357 319 245 (120 ) 237 239 4 243 Spread (1.06 %) 2.82 % 1.07 % 0.36 % 0.47 % (0.08 %) 7.20 % — — — Fixed rate 1,007 220 16 14 8 193 1,458 579 877 1,456 Interest rate 5.36 % 7.35 % 5.42 % 5.53 % 5.04 % 1.89 % 5.20 % — — — Rate cap — — — — — — — — — — Instruments in CLP (25 ) 105 149 288 326 108 951 (341 ) 1,297 956 Floating rate (94 ) 64 (21 ) 3 329 97 378 — 381 381 Spread — 1.12 % (0.40 %) 26.86 % (0.80 %) 1.54 % 0.14 % — — — Fixed rate 69 41 170 285 (3 ) 11 573 (341 ) 916 575 Interest rate (1.64 %) 3.08 % 4.80 % 4.13 % 4.90 % 7.02 % 3.61 % — — — Rate cap — — — — — — — — — — Instruments in UFC — — — — — — — 254 (267 ) (13 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 254 (267 ) (13 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in PEN 175 31 70 — 62 133 471 241 226 467 Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate 175 31 70 — 62 133 471 241 226 467 Interest rate 4.26 % 5.28 % 5.10 % — 5.43 % 6.24 % 5.16 % — — — Rate cap — — — — — — — — — — Instruments in VAC 17 25 — 8 — 61 111 112 — 112 Floating rate 17 25 — 8 — 61 111 112 — 112 Spread 3.38 % 3.66 % — 3.50 % — 3.24 % 3.37 % — — — Fixed rate — — — — — — — — — — Interest rate — — — — — — — — — — Rate cap — — — — — — — — — — Instruments in COP 799 117 16 62 70 129 1,193 246 952 1,198 Floating rate 80 15 5 41 36 97 274 269 9 278 Spread 0.41 % 2.89 % 9.33 % 4.27 % 5.25 % 3.82 % 3.12 % — — — Fixed rate 719 102 11 21 34 32 919 (23 ) 943 920 Interest rate 6.46 % 10.63 % 5.35 % 5.32 % 5.31 % 5.25 % 6.80 % — — — Rate cap — — — — — — — — — — Instruments in VEB (2 ) 1 — — — — (1 ) (3 ) — (3 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate (2 ) 1 — — — — (1 ) (3 ) — (3 ) Interest rate 0.03 % 16.63 % — — — — (10.69 %) — — — Rate cap — — — — — — — — — — Instruments in MXN 68 40 117 37 43 287 592 427 177 604 Fair value Millions of Euros 2018 2019 2020 2021 2022 Subsequent years Notional Underlying debt Associated derivatives TOTAL Floating rate (8 ) 7 8 10 12 89 118 119 — 119 Spread (12.36 )% 6.01 % 6.08 % 5.78 % 6.14 % 5.26 % 6.61 % — — — Fixed rate 76 33 109 27 31 198 474 308 177 485 Interest rate 21.09 % 7.11 % 7.72 % 6.67 % 6.68 % 7.23 % 9.49 % — — — Rate cap — — — — — — — — — — Instruments in GTQ 1 — 18 — — — 19 19 — 19 Floating rate (8 ) — — — — — (8 ) (8 ) — (8 ) Spread 0.01 % — — — — — 0.01 % — — — Fixed rate 9 — 18 — — — 27 27 — 27 Interest rate 4.04 % — 4.00 % — — — 4.01 % — — — Rate cap — — — — — — — — — — Instruments in NIO (7 ) — — — — 6 (1 ) (1 ) — (1 ) Floating rate (7 ) — — — — — (7 ) (7 ) — (7 ) Spread 0.01 % — — — — — 0.01 % — — — Fixed rate — — — — — 6 6 6 — 6 Interest rate — — — — — 7.46 % 7.46 % — — — Rate cap — — — — — — — — — — Asia Instruments in JPY — — — — — — — 70 (77 ) (7 ) Floating rate — — — — — — — — — — Spread — — — — — — — — — — Fixed rate — — — — — — — 70 (77 ) (7 ) Interest rate — — — — — — — — — — Rate cap — — — — — — — TOTAL 47,375 49,031 (505 ) 48,526 Floating rate 14,359 3,863 10,619 14,482 Fixed rate 32,903 45,055 (11,223 ) 33,832 Rate cap 113 113 — 113 Currency Options and Others (*) — — 99 99 (*) Amounts include in fixed rate The table below is an extract of the previous table that shows the sensitivity to interest rates originated by our position on interest rate swaps categorized into instruments entered into for trading purposes and instruments entered into for purposes other than trading at December 31, 2017: Interest rate swaps Millions of euros Maturity Non trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value EUR (134 ) Fixed to fix — — — — — — — 5 Receiving leg (190 ) (5 ) — (100 ) (75 ) — (370 ) (282 ) Average Interest Rate — — — — — — — — Paying leg 190 5 — 100 75 — 370 287 Average Interest Rate 0.52 % 0.85 % — 1.18 % 0.55 % — — — Fixed to floating — — — — — — — (1,010 ) Receiving leg (8,097 ) (5,861 ) (9,145 ) (7,282 ) (4,018 ) (6,262 ) (40,665 ) (22,668 ) Average Interest Rate 1.04 % 0.99 % 1.39 % 1.69 % 1.04 % 1.27 % 1.26 % — Paying leg 8,097 5,861 9,145 7,282 4,018 6,262 40,665 21,658 Average Spread 0.39 % 0.66 % 0.36 % 0.51 % 1.01 % — 0.44 % — Floating to fixed — — — — — — — 871 Receiving leg (5,868 ) (3,359 ) (4,985 ) (3,280 ) (359 ) (4,544 ) (22,395 ) (17,773 ) Average Spread 1.70 % 0.20 % — 0.02 % — — 0.48 % — Paying leg 5,868 3,359 4,985 3,280 359 4,544 22,395 18,644 Average Interest Rate 0.22 % 0.91 % 2.45 % 2.06 % 1.30 % 0.95 % 1.25 % — USD (3 ) Fixed to floating — — — — — — — (6 ) Receiving leg (639 ) (283 ) (283 ) (283 ) (534 ) (142 ) (2,164 ) (755 ) Average Interest Rate 1.45 % 1.40 % 1.52 % 1.61 % 1.73 % 3.47 % 1.68 % — Paying leg 639 283 283 283 534 142 2,164 749 Average Spread 0.62 % 1.52 % 1.61 % 1.68 % 0.92 % — 1.04 % — Floating to fixed — — — — — — — 3 Receiving leg (415 ) — — — (250 ) (142 ) (807 ) (808 ) Average Spread — — — — — — — — Paying leg 415 — — — 250 142 807 811 Average Interest Rate 2.87 % — — — 1.93 % 2.52 % — — GBP (50 ) Fixed to floating — — — — — — — (76 ) Receiving leg (676 ) (28 ) (23 ) (248 ) (524 ) — (1,499 ) (1,575 ) Average Interest Rate 1.63 % 2.25 % 2.36 % 1.76 % 3.27 % — — — Paying leg 676 28 23 248 524 — 1,499 1,499 Average Spread — — — — — — — — Floating to fixed — — — — — — — 26 Receiving leg (789 ) — (68 ) (169 ) (192 ) — (1,218 ) (1,219 ) Average Spread — — — — — — — — Paying leg 789 — 68 169 192 — 1,218 1,245 Average Interest Rate 1.38 % — 0.73 % 2.56 % 1.84 % — — — Interest rate swaps Millions of euros Maturity Trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value EUR 424 Fixed to fixed — — — — — — — 1 Receiving leg — (20 ) — — — — (20 ) (37 ) Average Interest Rate — — — — — — — — Paying leg — 20 — — — — 20 38 Average Spread — 0.85 % — — — — — — Fixed to floating — — — — — — — (88 ) Receiving leg (200 ) — — (500 ) — (1,100 ) (1,800 ) (1,881 ) Average Interest Rate 0.93 % — — 1.25 % — 1.24 % — — Paying leg 200 — — 500 — 1,100 1,800 1,793 Average Spread — — — — — — — — Floating to fixed — — — — — — — 511 Receiving leg (2,166 ) (1,371 ) (4,097 ) (1,102 ) (192 ) (5,270 ) (14,198 ) (10,610 ) Average Spread 0.43 % 1.25 % 0.05 % 0.03 % — — 0.20 % — Paying leg 2,166 1,371 4,097 1,102 192 5,270 14,198 11,121 Average Interest Rate 1.70 % 1.07 % 2.57 % 1.92 % 0.12 % 1.22 % 1.70 % — USD (918 ) Fixed to floating — — — — — — — (918 ) Receiving leg (1,371 ) (1,132 ) (1,779 ) (1,509 ) (1,235 ) (6,359 ) (13,385 ) (13,993 ) Average Interest Rate 1.19 % 3.45 % 3.02 % 3.44 % 1.83 % 3.21 % 2.90 % — Paying leg 1,371 1,132 1,779 1,509 1,235 6,359 13,385 13,075 Average Spread — — 0.22 % — — — 0.03 % — Floating to fixed — — — — — — — — Receiving leg — — — — — — — — Average Spread — — — — — — — — Paying leg — — — — — — — — Average Interest Rate — — — — — — — — MXN (4 ) Fixed to floating — — — — — — — 1 Receiving leg — — (127 ) — — — (127 ) (129 ) Average Interest Rate — — 7.90 % — — — — — Paying leg — — 127 — — — 127 130 Average Spread — — 0.41 % — — — — — Floating to fixed — — — — — — — (5 ) Receiving leg — — (127 ) — — — (127 ) (129 ) Average Spread — — 0.41 % — — — — — Paying leg — — 127 — — — 127 124 Average Interest Rate — — 6.67 % — — — — — GBP (216 ) Fixed to floating — — — — — — — (216 ) Receiving leg (563 ) — (789 ) — (563 ) (451 ) (2,366 ) (2,578 ) Average Interest Rate 1.43 % — 1.87 % — 3.51 % 3.42 % — — Paying leg 563 — 789 — 563 451 2,366 2,362 Average Spread — — — — — — — — Floating to fixed — — — — — — — — Receiving leg — — — — — — — — Average Spread — — — — — — — — Paying leg — — — — — — — — Average Interest Rate — — — — — — — — Millions of euros Maturity Trading purposes 2018 2019 2020 2021 2022 Subsequent years Total Fair value JPY — Fixed to floating — — — — — — — — Receiving leg (74 ) — — — — — (74 ) (74 ) Average Interest Rate 0.32 % — — — — — — — Paying leg 74 — — — — — 74 74 Average Spread — — — — — — — — CLP — Fixed to floating — — — — — — — (3 ) Receiving leg — (64 ) (7 ) (3 ) (3 ) (3 ) (80 ) (86 ) Average Interest Rate — 5.75 % 4.90 % 4.90 % 4.90 % 4.90 % 0.40 % — Paying leg — 64 7 3 3 3 80 83 Average Spread — 1.12 % 1.27 % 1.27 % 1.27 % 1.27 % 0.10 % — Floating to fixed — — — — — — — 3 Receiving leg (87 ) — (27 ) (134 ) — — (248 ) (247 ) Average Spread — — — — — — — — Paying leg 87 — 27 134 — — 248 250 Average Interest Rate 5.05 % — 3.31 % 3.26 % — — — — CHF (17 ) Fixed to floating — — — — — — — (17 ) Receiving leg (214 ) — (192 ) — (128 ) — (534 ) (549 ) Average Interest Rate 0.28 % — 0.95 % — 0.75 % — — — Paying leg 214 — 192 — 128 — 534 532 Average Spread — — — — — — — — BRL (7 ) Fixed to floating — — — — — — — — Receiving leg — — — — — — — — Average Interest Rate — — — — — — — — Paying leg — — — — — — — — Average Spread — — — — — — — — Floating to fixed (2 ) (1 ) — — — — (3 ) (7 ) Receiving leg (72 ) (38 ) — — — — (110 ) (110 ) Average Spread 2.00 % 1.55 % — — — — 1.85 % — Paying leg 70 37 — — — — 107 103 Average Interest Rate — — — — — — — — COP (1 ) Fixed to floating — — — — — — 2 1 Receiving leg (4 ) (8 ) (8 ) (8 ) (4 ) — (32 ) (36 ) Average Interest Rate 7.25 % 7.25 % 7.25 % 7.25 % 7.25 % — — — Paying leg 4 8 8 8 4 — 34 37 Average Spread 2.80 % 2.80 % 2.80 % 2.80 % 2.80 % — — — Floating to fixed — — — — 3 (3 ) 1 (2 ) Receiving leg (70 ) — (10 ) (21 ) (31 ) (35 ) (167 ) (29 ) Average Spread 5.25 % — — — — — — — Paying leg 70 — 10 21 34 32 168 27 Average Interest Rate — — 5.25 % 5.27 % 5.29 % 5.25 % — — |
Schedule of Maturity Analysis for Derivative Financial Liabilities | T he breakdown of financial liabilities at December 31, 2017 and the corresponding maturities schedule is as follows: Millions of euros Current Non-current Maturity 2018 2019 2020 2021 2022 Subsequent years Non-current total Total Debentures and bonds 5,313 3,599 5,108 4,760 4,903 17,605 35,975 41,288 Promissory notes & commercial paper 2,107 — 112 — — 187 299 2,406 Total Issues 7,420 3,599 5,220 4,760 4,903 17,792 36,274 43,694 Loans and other payables 1,714 2,250 819 918 531 2,668 7,186 8,900 Derivative instruments (Note 16) 280 214 824 453 185 1,196 2,872 3,152 Total 9,414 6,063 6,863 6,131 5,619 21,656 46,332 55,746 Foreign exchange and interest rate options, by maturity, are as follows: Currency options Maturities Millions of euros 2018 2019 2020 2021 2022 Subsequent years Currency Puts (EURUSD, USDEUR) Notional amount of options bought 120 — — — — — Strike 1.57 — — — — — Notional amount of options sold 120 — — — — — Strike 1.57 — — — — — Interest rate options Maturities Millions of euros 2018 2019 2020 2021 2022 Subsequent years Collars Notional amount of options bought 800 — — — 845 — Strike Cap 4.35 — — — 4.92 — Strike Floor 3.05 — — — 4.15 — Caps Notional amount of options bought — — — — — — Strike — — — — — — Notional amount of options sold — — — — 845 — Strike — — — — 5.53 — Floors Notional amount of options bought — — — — 845 — Strike — — — — 1.17 — Notional amount of options sold — — — — — — Strike — — — — — — Cash flows receivable or payable on derivative financial instruments to be settled via the swap of nominals, categorized by currency of collection/payment, along with contractual maturities are as follows: Millions of euros 2018 2019 2020 2021 2022 Subsequent years Total Currency swaps Receive ARS — — — — — — — Pay ARS — — — — — — — Receive BRL 66 — — — — — 66 Pay BRL (140 ) (79 ) — — — — (219 ) Receive CLP — — — — 326 94 420 Pay CLP — — (136 ) (134 ) (652 ) (188 ) (1,110 ) Receive COP — — — — — — — Pay COP (42 ) (2 ) — — — — (44 ) Receive CZK — — — — — — — Pay CZK — — — — — — — Receive EUR 80 74 — — — 64 218 Pay EUR (2,119 ) (1,583 ) (3,019 ) (3,104 ) (313 ) (4,952 ) (15,090 ) Receive GBP — 563 1,239 — — — 1,802 Pay GBP — — — — — — — Receive JPY 74 — — — — — 74 Pay JPY — — — — — — — Receive MAD — — — — — — — Pay MAD — — — — — — — Receive MXN — — — — — — — Pay MXN — — — — — — — Receive PEN — — — — — — — Pay PEN (6 ) (1 ) — — — — (7 ) Receive UFC — — 145 — — 218 363 Pay UFC — — — — — (109 ) (109 ) Receive USD 1,963 1,027 1,612 3,302 1,026 4,525 13,455 Pay USD (47 ) — — — (417 ) — (464 ) Receive UDI — — — — — — — Pay UDI — — — — — — — Receive CHF 214 — 192 — — — 406 Pay CHF — — — — 128 — 128 TOTAL 43 (1 ) 33 64 98 (348 ) (111 ) Millions of euros 2018 2019 2020 2021 2022 Subsequent years Total Forwards Receive ARS — — — — — — — Pay ARS — — — — — — — Receive BRL 8 — — — — — 8 Pay BRL (748 ) — — — — — (748 ) Receive CLP 1 — — — — — 1 Pay CLP (569 ) — — — — — (569 ) Receive COP 3 — — — — — 3 Pay COP (818 ) — — — — — (818 ) Receive CZK 67 — — — — — 67 Pay CZK — — — — — — — Receive EUR 5,533 — — — — — 5,533 Pay EUR (2,131 ) — — — — — (2,131 ) Receive GBP 1,022 — — — — — 1,022 Pay GBP (3,084 ) — — — — — (3,084 ) Receive MXN — — — — — — — Pay MXN (352 ) — — — — — (352 ) Receive PEN 25 — — — — — 25 Pay PEN (245 ) — — — — — (245 ) Receive UFC — — — — — — — Pay UFC — — — — — — — Receive USD 2,610 — — — — — 2,610 Pay USD (1,338 ) — — — — — (1,338 ) Receive UYU — — — — — — — Pay UYU (19 ) — — — — — (19 ) TOTAL (35 ) — — — — — (35 ) |
Appendix V_ Interest-Bearing 63
Appendix V: Interest-Bearing Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Appendix V: Interest-Bearing Debt [Abstract] | |
Schedule of Interest-Bearing Debt | Interest-bearing debt arranged or repaid in 2017 mainly includes the following: Description Limit 12/31/2017 (million euros) Currency Outstanding balance 12/31/2017 (million euros) Arrangement date Maturity date Drawndown 2017 (million euros) Repayment 2017 (million euros) Telefónica, S.A. Syndicated facility 2,500 EUR — 02/19/2015 02/19/2022 — (550 ) Syndicated facility (1) — EUR — 11/17/2015 03/30/2017 — — Structured financing (*) 679 USD 566 12/11/2015 03/11/2026 329 (48 ) Structured financing (*) 469 EUR 423 12/11/2015 03/11/2026 217 (34 ) Structured financing (2)(*) — EUR — 06/13/2014 12/15/2017 (185 ) Bilateral loan (3) — EUR — 02/23/2016 02/23/2017 — (100 ) Bilateral loan (4) — EUR — 11/13/2015 05/16/2017 — (100 ) Bilateral loan (5) 1,500 EUR 1,500 06/26/2014 06/26/2019 — — Bilateral loan (6) — EUR 06/30/2015 12/29/2017 — (200 ) Bilateral loan (7) 150 EUR 150 10/24/2016 03/19/2019 — (150 ) Credit facility 380 EUR 292 12/27/2002 12/27/2020 292 — Credit facility 200 EUR 167 03/27/2013 03/14/2020 167 — Telefónica Germany GmbH & Co. OHG Syndicated facility (8) 750 EUR — 03/22/2016 03/22/2022 650 (700 ) EIB Financing — EUR 450 06/13/2016 06/13/2025 200 — Telefónica Europe, B.V. Structured financing (*) 750 EUR 750 11/28/2016 11/28/2024 750 — (1) On March 30, 2017 an early cancellation was made for the 1,500 million euros syndicated facility originally scheduled to mature in 2019. (2) On December 15, 2017 an early repayment was made for the long-term financing originally scheduled to mature in 2019. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On May 16, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2020. (5) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (6) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (7) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (8) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule showing in the column "Limit 12/31/2017" the undrawn amount. The main debentures and bonds issued by the Group in 2017 are as follows: Nominal (millions) Item Date Maturity Date Currency Euros Currency of issuance Coupon Telefónica Emisiones, S.A.U. EMTN Bond 01/17/2017 01/17/2025 1,250 1,250 EUR 1.528 % EMTN Bond 01/17/2017 10/17/2028 500 500 EUR 2.318 % EMTN Bond 01/25/2017 01/25/2019 150 150 EUR EURIBOR 3M + 0.40% SHELF Bond 03/08/2017 03/08/2027 1,500 1,251 USD 4.103 % SHELF Bond 03/08/2017 03/08/2047 2,000 1,667 USD 5.213 % EMTN Bond (Retap) 03/17/2017 10/17/2028 200 200 EUR 2.318 % EMTN Bond 04/18/2017 04/18/2037 200 167 USD 4.900 % SHELF Bond (Retap) 04/28/2017 03/08/2047 500 417 USD 5.213 % EMTN Bond 09/12/2017 01/12/2028 1,250 1,250 EUR 1.715 % Telefónica Brasil, S.A. Debentures 02/08/2017 02/08/2022 2,000 504 BRL 108.25% CDI Debentures 11/27/2017 11/27/2020 1,000 252 BRL 100% CDI + 0.24% The main financing transactions at December 31, 2017 and 2016 and their nominal amounts are as follows: Outstanding principal balance (millions of euros) Descriptive name summary Current limit (millions) Currency 12/31/2017 12/31/2016 Arrangement date Maturity date Telefónica, S.A Structured Financing (*) 153 USD 128 190 05/03/2011 07/30/2021 Structured Financing (*) 551 USD 460 635 02/22/2013 01/31/2023 Structured Financing (*) 446 USD 371 505 08/01/2013 10/31/2023 Bilateral (1) 1,500 EUR 1,500 1,500 06/26/2014 06/26/2019 Syndicated facility 2,500 EUR — 550 02/19/2015 02/19/2022 Bilateral (2) — EUR — 200 06/30/2015 12/29/2017 Structured Financing (*) 679 USD 566 324 12/11/2015 03/11/2026 Structured Financing (*) 469 EUR 423 240 12/11/2015 03/11/2026 Bilateral loan (3) — EUR — 100 02/23/2016 02/23/2017 Bilateral loan 100 EUR 100 100 02/23/2016 02/23/2021 Loan 300 EUR 300 300 03/08/2016 03/08/2021 Bilateral loan (4) 150 EUR 150 300 10/24/2016 03/19/2019 Credit 380 EUR 292 — 12/27/2002 12/27/2020 Credit 200 EUR 167 — 03/27/2013 03/14/2020 Telefónica Germany GmbH & Co. OHG Syndicated facility (5) 750 EUR — 50 03/22/2016 03/22/2022 EIB Financing — EUR 450 250 06/13/2016 06/13/2025 Telefónica Europe, B.V. Structured Financing (*) 750 EUR 750 — 11/28/2016 11/28/2024 ( 1) On January 17, 2017 an amendment was made to the bilateral loan, with an outstanding amount of 1,500 million euros, split into two tranches with a new amortization schedule: tranche A for 500 million euros maturing on June 26, 2017 and tranche B for 1,000 million euros maturing on June 26, 2019. Later, on February 17, 2017 a new amendment was signed extending the maturity of the tranche A for 500 million euros up to June 26, 2019. (2) On December 29, 2017 an early repayment was made for the 200 million euros bilateral loan originally scheduled to mature in 2020. (3) On February 23, 2017 an early cancellation was made for the bilateral loan originally scheduled to mature in 2019. (4) On December 19, 2017 an early repayment was made for 150 million euros of the 300 million euros bilateral loan originally scheduled to mature in 2019. (5) On February 17, 2017 a twelve-month extension was signed for the 750 million euros syndicated facility originally scheduled to mature in 2021. (*) Facility with amortization schedule, showing in the column "Current limit" the undrawn amount. |
Appendix VI_ Key Regulatory I64
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about service concession arrangements [abstract] | |
Schedule of Information about Activities Subject to Rate Regulation | Value/year/ COP$ 2018 Charge per minute 10.99 % Reduction 42.2 % Capacity Charge 4,273,389.92 % Reduction 43.9 % |
Schedule of Detailed Information about Service Concession Arrangements | The following tables list the concessions and licenses as at December 31, 2017 to use spectrum for mobile services and selected other applications in each country. EUROPE Frequency Bandwidth (MHz) Year of Exp. Date Spain 800 MHz 20 2031 900 MHz 29.6 2030 1,800 MHz 40 2030 1,900 MHz (TDD) 5 2020 (1) 2,100 MHz 29.6 2020 (1) 2,600 MHz 40 2030 2,600 MHz 20 (2) 2030 3.5 GHz 40 2020 (1) United Kingdom 800 MHz 20 Indefinite (3) 900 MHz 34.8 Indefinite 1,800 MHz 11.6 Indefinite 1,900 MHz (TDD) 5 Indefinite 2,100 MHz 20 Indefinite Germany 700 MHz 20 2033 800 MHz 20 2025 900 MHz 20 2033 1,800 MHz 20 2033 1,800 MHz 20 2025 1,900 MHz (TDD) 5 2025 1,900 MHz (TDD) 5 2020 2,000 MHz (TDD) 14.2 2025 2,100 MHz 39.6 2020 2,100 MHz 29.7 2025 2,600 MHz 60 2025 2,600 MHz (TDD) 20 2025 3.5 GHz 42 2021 (1) Expected extension until April 18, 2030. (2) Regional licenses in Madrid and Melilla. (3) Initial term of 20 years . BRAZIL Frequency Bandwidth (MHz) Year of Exp. Date Brazil (10) 450 MHz 14 2027 (1 ) 700 MHz 20 2029 850 MHz 25 (2 ) 2020-2028 (3 ) 900 MHz 5 (4 ) 2020-2023 (5 ) 1,800 MHz 20 (6 ) 2020-2023 (5 ) 1,900 MHz 10 (7 ) 2022 2,100 MHz 20-30 (11 ) 2023 2,500 MHz 40 (8 ) 2027-2031 (9) (1) SP State (towns with CN 13 to 19), MG and North East (AL, CE, PB, PE, PI, RN e SE). (2) Except regions 2', 4', 6', 7' and 10. (3) Regional licenses: expiration and renewal dates are dependent on the region. The license in Rio de Janeiro is due to expire in 2020. (4) Only in regions 3, 4, 4', 5, 6, 7, 8 and 9. Not in regions 1, 2, 2', 5', 6', 7' and 10. (5) Regional licenses: expiration and renewal dates are dependent on the region. The license in MG Interior is the first to reach its renewal date in 2020. (6) 20 MHz is the most common bandwidth, but it is higher in some regions (up to 50 MHz). (7) Only in region 10. The licenses can be disabled and migrated to 2100 MHz frequency (3G technology). This depends on Anatel’s approval. (8) 40 MHz is the most common bandwidth, but it is 60 MHz in some regions. (9) Band X will expire in 2027 and Band P will expire in 2031. (10) Telefónica Brazil uses high frequency spectrum in all regions of Brazil; the same will apply with low frequency spectrum once the 700 MHz frequency is usable. Until then, the operator uses spectrum in low frequencies spectrum in all regions of Brazil except in region 10 (Northeast of Brazil). Regional codes are included in Annex 1. (11) 30 MHz in regions where the bandwidth from 1900 MHz frequency has been migrated to 2100 MHz frequency. HISPANOAMÉRICA Frequency Bandwidth (MHz) Year of Exp. Date Argentina 700 MHz 20 2032 (1 ) 850 MHz (AMBA) 30 Indefinite 850 MHz (Sur) 25 Indefinite 1,900 MHz (AMBA) 20 Indefinite 1,900 MHz (Norte) 50 Indefinite 1,900 MHz (Sur) 25 Indefinite 1,700 MHz/2100 MHz 20 2032 (1 ) 3.5 GHz 50 Indefinite (2 ) Chile 700 MHz 20 2045 850 MHz 25 Indefinite 1,900 MHz 30 2032/2033 (3 ) 2,600 MHz 40 2043 2,600 MHz 12 2038 (4 ) 3.5 GHz 50 2037 (5 ) Colombia 850 MHz 25 2024 1,700 MHz/2100 MHz 30 2023 1,900 MHz 15 2024 1,900 MHz 15 2021 Ecuador 850 MHz 25 2023 1,900 MHz 60 2023 Mexico (6) 850 MHz (Reg. 1, 2, 3, 4) 20 2025 850 MHz (Monterrey y alrededores) 1.92 2025 1,900 MHz (Reg. 1) 40 2018/2030 (7 ) 1,900 MHz (Reg. 2) 50 2018/2030 (8 ) 1,900 MHz (Reg. 3 and 7) 60 2018/2025/2030 (9 ) 1,900 MHz (Reg. 4) 50 2018/2030 (10 ) 1,900 MHz (Reg. 5) 50 2018/2025/2030 (11 ) 1,900 MHz (Reg. 6) 60 2018/2030 (12 ) 1,900 MHz (Reg.8 - Guerrero, Oaxaca, Puebla,Tiaxcala and Veracruz) 30 2018 1,900 MHz (Reg. 9 – México D.F.) 70 2018/2025/2030 (14 ) Peru 450 MHz 10 2028 (15 ) 700 MHz 30 2036 850 MHz 25 2030 (16 ) 900 MHz (Lima y Callao) 10 2028 900 MHz (Resto de provincias) 16 2028 (17 ) 1,700 MHz/2100 MHz 40 2033 1,900 MHz (Lima y Callao) 25 2030 1,900 MHz (Resto de provincias) 25 2018 3.5 GHz 50 2027 (15 ) Uruguay 700 MHz 30 2037 850 MHz 25 2024 1,900 MHz 20 2022/2024 (18 ) 1,900 MHz 40 2033 Venezuela 850 MHz 25 2022 1,900 MHz 50 2022 1,700 MHz/2100 MHz 20 2022 2,600 MHz 40 2029 3.5 GHz 50 2026 (15 ) Costa Rica 850 MHz 10.6 2026 1,800 MHz 30 2026 1,800 MHz 20 2032 2,100 MHz 20 2026 2,100 MHz 20 2032 El Salvador 850 MHz 25 2018 1,900 MHz 30 2021 Guatemala 1,900 MHz 80 2034 HISPANOAMÉRICA (Cont.) Frequency Bandwidth (MHz) Year of Exp. Date Nicaragua 700 MHz 40 2023 850 MHz 25 2023 1,900 MHz 60 2023 1,700 MHz/2100 MHz 40 2023 Panama 700 MHz 20 2036 850 MHz 25 2036 (19 ) 1,900 MHz 20 2036 (19 ) (1) The date will be confirmed when the 700 MHz band is released. (2) Only in 37 locations. Restricted to Fixed applications. (3) 20 MHz expires in November 2032; 10 MHz in April 2033. (4) Only in Metropolitan Region. (5) Only in Aysén and Punta Arenas. (6) Two different communication licenses, one expires in 2018, the other expires in 2030. Regional codes are included in Annex 2. (7) 30 MHz expires in 2018; 10 MHz in 2030. (8) 30 MHz expires in 2018; 20 MHz in 2030. (9) 10 MHz expires in 2018; 20 MHz expires in 2025; 30 MHz expires in 2030. (10) 40 MHz expires in 2018; 10 MHz in 2030. (11) 10 MHz expires in 2018; 20 MHz expires in 2025; 20 MHz expires in 2030. (12) 30 MHz expires in 2018; 30 MHz expires in 2030. (13) 10 MHz expires in 2018; 20 MHz expires in 2025. (14) 30 MHz expires in 2018; 10 MHz expires in 2025; 30 MHz expires in 2030. (15) Restricted to Fixed applications. (16) Provinces of Lima and Callao: expiration date of March 2030; rest of provinces in December 2030. (17) Used in rural areas. (18) 10 MHz expires in 2022; 10 MHz in 2024. (19) Renewal agreement reached in February 2014. |
Basis of Presentation of the 65
Basis of Presentation of the Consolidated Financial Statements - Capital Increase in Colombia Telecommunicaciones (Details) € in Millions, COP in Millions | Sep. 30, 2017EUR (€) | Sep. 30, 2017COP | Sep. 27, 2017EUR (€) | Sep. 27, 2017COP | Aug. 29, 2017EUR (€) | Aug. 29, 2017COP | Jul. 25, 2017EUR (€) | Jul. 25, 2017COP |
Disclosure of subsidiaries [line items] | ||||||||
Issued capital | € 934 | COP 3,240,652 | € 317 | COP 1,114,433 | ||||
Colombia Telecomunicaciones, S.A., ESP | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Issued capital | € 1,384 | COP 4,800,966 | € 470 | COP 1,651,012 | € 470 | COP 1,651,012 | ||
Percentage of payment obligations assumed by government | 32.50% | 32.50% | ||||||
Colombia Telecomunicaciones, S.A., ESP | Telebucaramanga, Metrotel, and Optecom Acquisition | ||||||||
Disclosure of subsidiaries [line items] | ||||||||
Consideration paid for the acquisition of control (1) | € 147 | COP 509,975 |
Basis of Presentation of the 66
Basis of Presentation of the Consolidated Financial Statements - Individual Suspension Plan (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of other provisions [line items] | |||
Employee benefits expense | € 6,862 | € 8,098 | € 10,349 |
Individual Suspension Plan | |||
Disclosure of other provisions [line items] | |||
Employee benefits expense | € 165 | € 789 | € 2,896 |
Basis of Presentation of the 67
Basis of Presentation of the Consolidated Financial Statements - Sale of Share Capital (Details) € in Millions, shares in Millions | Nov. 13, 2017EUR (€)shares | Oct. 24, 2017EUR (€)shares | Feb. 20, 2017EUR (€)shares | Dec. 31, 2017EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) |
Disclosure of classes of share capital [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | € 1,843 | € (7) | € 2,424 | ||||
Retained earnings | |||||||
Disclosure of classes of share capital [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | € 570 | 449 | (1,297) | ||||
Reserve of exchange differences on translation [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | (9) | (9) | 628 | ||||
Non-controlling interests | |||||||
Disclosure of classes of share capital [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | € 690 | € 649 | € (7) | € 2,538 | |||
Telxius Telecom, S.A. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Percentage of share capital acquired | 40.00% | 40.00% | 40.00% | ||||
Purchase of investment interest | € 1,275 | ||||||
Telxius Telecom, S.A. | KKR | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of share options exercised | shares | 38 | 38 | |||||
Percentage of share capital acquired | 15.20% | 15.20% | 40.00% | 40.00% | |||
Purchase of investment interest | € 484.5 | € 484.5 | € 1,275 | ||||
Increase (decrease) in equity through change in equity of equity holders | € 690 | ||||||
KKR | Telxius Telecom, S.A. | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares exchanged for cash | shares | 62 | 62 | |||||
Percent of share capital transferred | 0.248 | 0.248 | |||||
Proceeds from exchange of share capital | € 790.5 | € 790.5 |
Basis of Presentation of the 68
Basis of Presentation of the Consolidated Financial Statements - Translation of Telefonica Venezolana's Financial Statements (Details) € in Millions | 1 Months Ended | 12 Months Ended | |||
Jan. 31, 2018VEB / $ | Jan. 31, 2018veb_per_eur | Dec. 31, 2017EUR (€)VEB / $ | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | |
Disclosure of subsidiaries [line items] | |||||
Movement of deferred tax liability | € 45 | € 35 | |||
Disclosure of subsidiaries [abstract] | |||||
Revenues | 52,008 | 52,036 | € 54,916 | ||
Profit before tax | 4,597 | 3,245 | 906 | ||
Net result | 1,219 | 846 | 155 | ||
Other comprehensive (loss) income | (5,148) | 3,339 | (6,697) | ||
Net cash flow provided by operating activities | 13,796 | 13,338 | € 13,615 | ||
Non-current assets | € 95,135 | € 103,667 | |||
Venezuela | |||||
Disclosure of subsidiaries [line items] | |||||
Inflation rate | 2874.10% | 511.10% | 190.80% | ||
Telefonica Venezolana | |||||
Disclosure of subsidiaries [line items] | |||||
Average foreign exchange rate | 25,000 | 30,988 | 36,115 | ||
Financial impact from hyperinflationary adjustment | € 84 | € 299 | |||
Telefonica Venezolana | Conversion at synthetic exchange rate | |||||
Disclosure of subsidiaries [abstract] | |||||
Revenues | 106 | ||||
Operating income before depreciation and amortization (OIBDA) | 34 | ||||
Depreciation and amortization | (103) | ||||
Profit before tax | 9 | ||||
Net result | (129) | ||||
Other comprehensive (loss) income | (328) | ||||
Net cash flow provided by operating activities | 35 | ||||
Capital expenditures (CapEx) | 9 | ||||
Non-current assets | € 295 | ||||
Telefonica Venezolana | Venezuela | |||||
Disclosure of subsidiaries [line items] | |||||
Average foreign exchange rate | VEB / $ | 3,345 |
Accounting Policies - Hyperinfl
Accounting Policies - Hyperinflationary Economies (Details) - VEB / $ | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of geographical areas [line items] | |||
Exchange rate as of closing date of period (Bolivar per USD) | 36,115.280 | 673.762 | 198.699 |
Venezuela | |||
Disclosure of geographical areas [line items] | |||
Inflation rate | 2874.10% | 511.10% | 190.80% |
Accounting Policies - Intangibl
Accounting Policies - Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Customer base | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Amortization term length | 5 years |
Customer base | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Amortization term length | 14 years |
Software | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Amortization term length | 2 years |
Software | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Amortization term length | 5 years |
Accounting Policies - Estimated
Accounting Policies - Estimated Useful Life of Depreciable Assets (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Period to qualify assets to condition necessary for intended use or sale | 18 months |
Buildings | Minimum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 25 years |
Buildings | Maximum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 40 years |
Plant and machinery | Minimum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 10 years |
Plant and machinery | Maximum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 15 years |
Telephone installations, networks and subscriber equipment | Minimum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 5 years |
Telephone installations, networks and subscriber equipment | Maximum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 20 years |
Furniture, tools and other items | Minimum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 2 years |
Furniture, tools and other items | Maximum | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life | 10 years |
Accounting Policies - Revenue f
Accounting Policies - Revenue from Contracts with Customers (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Minimum | |
Expected increase in retained earnings | € 950 |
Maximum | |
Expected increase in retained earnings | € 1,100 |
Accounting Policies - IFRS 9 Fi
Accounting Policies - IFRS 9 Financial Instruments (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure Of Significant Accounting Policies [Abstract] | |
Expected increase in bad debt provision of customer receivables | € 200 |
Segment Information - Narrative
Segment Information - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of subsidiaries [line items] | |||
Revenues | € 52,008 | € 52,036 | € 54,916 |
Inter-segment eliminations | |||
Disclosure of subsidiaries [line items] | |||
Revenues | (551) | (658) | € (545) |
Other companies and eliminations | Telxius Telecom, S.A. | |||
Disclosure of subsidiaries [line items] | |||
Revenues | 730 | 645 | |
OIBDA | 346 | 266 | |
Capital expenditures (CapEx) | 203 | 119 | |
Other companies and eliminations | Inter-segment eliminations | Telxius Telecom, S.A. | |||
Disclosure of subsidiaries [line items] | |||
Revenues | € 449 | € 451 |
Segment Information - Income an
Segment Information - Income and Capital Expenditure Information Regarding Operating Segments (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of operating segments [line items] | |||
Revenues | € 52,008 | € 52,036 | € 54,916 |
Other operating income and expenses | 424 | 510 | 716 |
Depreciation and amortization | (9,396) | (9,649) | (9,704) |
OPERATING INCOME | 6,791 | 5,469 | 3,525 |
Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 52,036 | ||
Other companies and eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 948 | 1,188 | 1,342 |
External revenues | 1,499 | 1,846 | 1,887 |
Other operating income and expenses | (902) | (1,129) | (2,165) |
OIBDA | 46 | 59 | (823) |
Depreciation and amortization | (288) | (307) | (325) |
OPERATING INCOME | (242) | (248) | (1,148) |
Capital expenditures (CapEx) | 333 | 286 | 356 |
Other companies and eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 1,283 | ||
External revenues | 1,940 | ||
Other operating income and expenses | (1,326) | ||
OIBDA | (43) | ||
Depreciation and amortization | (290) | ||
OPERATING INCOME | (333) | ||
Capital expenditures (CapEx) | 291 | ||
Inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | (551) | (658) | (545) |
Inter-segment eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | (657) | ||
Telefónica Spain | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,653 | 12,815 | 12,402 |
External revenues | 12,364 | 12,512 | 12,194 |
Other operating income and expenses | (7,701) | (8,412) | (10,066) |
OIBDA | 4,952 | 4,403 | 2,336 |
Depreciation and amortization | (1,688) | (1,827) | (1,898) |
OPERATING INCOME | 3,264 | 2,576 | 438 |
Capital expenditures (CapEx) | 1,683 | 1,852 | 1,827 |
Telefónica Spain | Operating segments | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,713 | ||
External revenues | 12,410 | ||
Other operating income and expenses | (8,246) | ||
OIBDA | 4,467 | ||
Depreciation and amortization | (1,830) | ||
OPERATING INCOME | 2,637 | ||
Capital expenditures (CapEx) | 1,847 | ||
Telefónica Spain | Inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 289 | 303 | 208 |
Telefónica Spain | Inter-segment eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 303 | ||
Telefónica United Kingdom | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 6,540 | 6,861 | 7,837 |
External revenues | 6,505 | 6,821 | 7,787 |
Other operating income and expenses | (4,901) | (5,152) | (5,908) |
OIBDA | 1,639 | 1,709 | 1,929 |
Depreciation and amortization | (1,047) | (1,090) | (1,196) |
OPERATING INCOME | 592 | 619 | 733 |
Capital expenditures (CapEx) | 827 | 931 | 883 |
Telefónica United Kingdom | Operating segments | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 6,861 | ||
External revenues | 6,822 | ||
Other operating income and expenses | (5,152) | ||
OIBDA | 1,709 | ||
Depreciation and amortization | (1,090) | ||
OPERATING INCOME | 619 | ||
Capital expenditures (CapEx) | 931 | ||
Telefónica United Kingdom | Inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 35 | 40 | 50 |
Telefónica United Kingdom | Inter-segment eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 39 | ||
Telefónica Germany | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,296 | 7,503 | 7,888 |
External revenues | 7,252 | 7,460 | 7,874 |
Other operating income and expenses | (5,475) | (5,732) | (6,030) |
OIBDA | 1,821 | 1,771 | 1,858 |
Depreciation and amortization | (1,954) | (2,200) | (2,128) |
OPERATING INCOME | (133) | (429) | (270) |
Capital expenditures (CapEx) | 951 | 1,107 | 2,230 |
Telefónica Germany | Operating segments | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 7,503 | ||
External revenues | 7,460 | ||
Other operating income and expenses | (5,709) | ||
OIBDA | 1,794 | ||
Depreciation and amortization | (2,211) | ||
OPERATING INCOME | (417) | ||
Capital expenditures (CapEx) | 1,108 | ||
Telefónica Germany | Inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 44 | 43 | 14 |
Telefónica Germany | Inter-segment eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 43 | ||
Telefónica Brazil | |||
Disclosure of operating segments [line items] | |||
Other operating income and expenses | 98 | ||
Telefónica Brazil | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,019 | 11,090 | 11,060 |
External revenues | 11,994 | 11,060 | 11,027 |
Other operating income and expenses | (7,828) | (7,388) | (7,487) |
OIBDA | 4,191 | 3,702 | 3,573 |
Depreciation and amortization | (2,228) | (2,036) | (1,916) |
OPERATING INCOME | 1,963 | 1,666 | 1,657 |
Capital expenditures (CapEx) | 2,225 | 2,137 | 2,105 |
Telefónica Brazil | Operating segments | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 11,097 | ||
External revenues | 11,067 | ||
Other operating income and expenses | (7,383) | ||
OIBDA | 3,714 | ||
Depreciation and amortization | (2,038) | ||
OPERATING INCOME | 1,676 | ||
Capital expenditures (CapEx) | 2,138 | ||
Telefónica Brazil | Inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 25 | 30 | 33 |
Telefónica Brazil | Inter-segment eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 30 | ||
Telefónica Hispanoamérica | Operating segments | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,552 | 12,579 | 14,387 |
External revenues | 12,394 | 12,337 | 14,147 |
Other operating income and expenses | (9,014) | (9,105) | (10,031) |
OIBDA | 3,538 | 3,474 | 4,356 |
Depreciation and amortization | (2,191) | (2,189) | (2,241) |
OPERATING INCOME | 1,347 | 1,285 | 2,115 |
Capital expenditures (CapEx) | 2,678 | 2,615 | 3,060 |
Telefónica Hispanoamérica | Operating segments | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 12,579 | ||
External revenues | 12,337 | ||
Other operating income and expenses | (9,102) | ||
OIBDA | 3,477 | ||
Depreciation and amortization | (2,190) | ||
OPERATING INCOME | 1,287 | ||
Capital expenditures (CapEx) | 2,613 | ||
Telefónica Hispanoamérica | Inter-segment eliminations | |||
Disclosure of operating segments [line items] | |||
Revenues | 158 | 242 | 240 |
Telefónica Hispanoamérica | Inter-segment eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 242 | ||
Telefonica, S.A. | |||
Disclosure of operating segments [line items] | |||
Revenues | 52,008 | 52,036 | 54,916 |
External revenues | 52,008 | 52,036 | 54,916 |
Other operating income and expenses | (35,821) | (36,918) | (41,687) |
OIBDA | 16,187 | 15,118 | 13,229 |
Depreciation and amortization | (9,396) | (9,649) | (9,704) |
OPERATING INCOME | 6,791 | 5,469 | 3,525 |
Capital expenditures (CapEx) | € 8,697 | 8,928 | € 10,461 |
Telefonica, S.A. | Previously stated | |||
Disclosure of operating segments [line items] | |||
Revenues | 52,036 | ||
External revenues | 52,036 | ||
Other operating income and expenses | (36,918) | ||
OIBDA | 15,118 | ||
Depreciation and amortization | (9,649) | ||
OPERATING INCOME | 5,469 | ||
Capital expenditures (CapEx) | € 8,928 |
Segment Information - Segment A
Segment Information - Segment Assets, Liabilities and Investments Accounted for by the Equity Method (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | € 77 | € 76 | |
Property, plant and equipment | 34,225 | 36,393 | € 33,910 |
Total allocated assets | 115,066 | 123,641 | |
Operating segments | Telefónica Spain | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 2 | 1 | |
Property, plant and equipment | 15,288 | 15,306 | |
Total allocated assets | 22,722 | 22,138 | |
Total allocated liabilities | 13,391 | 12,999 | |
Operating segments | Telefónica Spain | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 1 | ||
Property, plant and equipment | 15,559 | ||
Total allocated assets | 22,353 | ||
Total allocated liabilities | 13,009 | ||
Operating segments | Telefónica United Kingdom | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 7 | 6 | |
Property, plant and equipment | 9,198 | 9,771 | |
Total allocated assets | 11,610 | 12,025 | |
Total allocated liabilities | 4,063 | 3,907 | |
Operating segments | Telefónica United Kingdom | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 6 | ||
Property, plant and equipment | 9,771 | ||
Total allocated assets | 12,025 | ||
Total allocated liabilities | 3,907 | ||
Operating segments | Telefónica Germany | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 0 | 0 | |
Property, plant and equipment | 14,611 | 15,572 | |
Total allocated assets | 17,225 | 18,510 | |
Total allocated liabilities | 5,889 | 6,006 | |
Operating segments | Telefónica Germany | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 0 | ||
Property, plant and equipment | 15,825 | ||
Total allocated assets | 18,835 | ||
Total allocated liabilities | 6,078 | ||
Operating segments | Telefónica Brazil | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 2 | 2 | |
Property, plant and equipment | 23,845 | 27,489 | |
Total allocated assets | 30,229 | 35,104 | |
Total allocated liabilities | 8,130 | 9,643 | |
Operating segments | Telefónica Brazil | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 2 | ||
Property, plant and equipment | 27,522 | ||
Total allocated assets | 35,192 | ||
Total allocated liabilities | 9,636 | ||
Operating segments | Telefónica Hispanoamérica | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 1 | 1 | |
Property, plant and equipment | 13,931 | 15,089 | |
Total allocated assets | 20,226 | 21,655 | |
Total allocated liabilities | 10,716 | 13,004 | |
Operating segments | Telefónica Hispanoamérica | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 1 | ||
Property, plant and equipment | 15,126 | ||
Total allocated assets | 21,694 | ||
Total allocated liabilities | 13,002 | ||
Other companies and eliminations | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 65 | 66 | |
Property, plant and equipment | 2,198 | 2,370 | |
Total allocated assets | 13,054 | 14,209 | |
Total allocated liabilities | 46,259 | 49,697 | |
Other companies and eliminations | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 66 | ||
Property, plant and equipment | 1,794 | ||
Total allocated assets | 13,542 | ||
Total allocated liabilities | 49,624 | ||
Telefonica, S.A. | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 77 | 76 | |
Property, plant and equipment | 79,071 | 85,597 | |
Total allocated assets | 115,066 | 123,641 | |
Total allocated liabilities | € 88,448 | 95,256 | |
Telefonica, S.A. | Previously stated | |||
Disclosure of operating segments [line items] | |||
Investments accounted for by the equity method | 76 | ||
Property, plant and equipment | 85,597 | ||
Total allocated assets | 123,641 | ||
Total allocated liabilities | € 95,256 |
Segment Information - Compositi
Segment Information - Composition of Segment Revenues, Detailed by the Main Countries of Operation (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of geographical areas [line items] | |||
Revenues | € 52,008 | € 52,036 | € 54,916 |
Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 52,036 | ||
Remaining operators and segment eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,755 | 2,098 | 2,195 |
Remaining operators and segment eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,098 | ||
Other companies and eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 948 | 1,188 | 1,342 |
Other companies and eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,283 | ||
Fixed | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Fixed | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Fixed | Remaining operators and segment eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 176 | 266 | 0 |
Fixed | Remaining operators and segment eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Fixed | Other companies and eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Fixed | Other companies and eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Mobile | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Mobile | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Mobile | Remaining operators and segment eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,579 | 1,832 | 2,225 |
Mobile | Remaining operators and segment eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,133 | ||
Mobile | Other companies and eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Mobile | Other companies and eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Other and elims. | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Other and elims. | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Other and elims. | Remaining operators and segment eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | (30) |
Other and elims. | Remaining operators and segment eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | (35) | ||
Other and elims. | Other companies and eliminations | |||
Disclosure of geographical areas [line items] | |||
Revenues | 948 | 1,188 | 0 |
Other and elims. | Other companies and eliminations | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Spain | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,653 | 12,815 | 12,402 |
Telefónica Spain | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,713 | ||
Telefónica Spain | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 9,359 | ||
Telefónica Spain | Fixed | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 9,795 | ||
Telefónica Spain | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 379 | 497 | 4,337 |
Telefónica Spain | Mobile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 4,149 | ||
Telefónica Spain | Other and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | (1,294) | ||
Telefónica Spain | Other and elims. | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | (1,231) | ||
Telefónica Spain | Ex-Mobile handset sale | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,274 | 12,318 | |
Telefónica Spain | Ex-Mobile handset sale, Consumer | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,602 | 6,536 | |
Telefónica Spain | Ex-Mobile handset sale, Corporate | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 3,401 | 3,445 | |
Telefónica Spain | Ex-Mobile handset sale, Others | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,271 | 2,337 | |
Telefónica United Kingdom | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,540 | 6,861 | 7,837 |
Telefónica United Kingdom | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,861 | ||
Telefónica United Kingdom | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica United Kingdom | Fixed | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica United Kingdom | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,216 | 6,572 | 7,837 |
Telefónica United Kingdom | Mobile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,861 | ||
Telefónica United Kingdom | Other and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 324 | 289 | 0 |
Telefónica United Kingdom | Other and elims. | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Germany | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,296 | 7,503 | 7,888 |
Telefónica Germany | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,503 | ||
Telefónica Germany | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 862 | 981 | 1,043 |
Telefónica Germany | Fixed | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 981 | ||
Telefónica Germany | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,415 | 6,498 | 6,832 |
Telefónica Germany | Mobile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,498 | ||
Telefónica Germany | Other and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 19 | 24 | 13 |
Telefónica Germany | Other and elims. | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 24 | ||
Telefónica Brazil | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,019 | 11,090 | 11,060 |
Telefónica Brazil | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 11,097 | ||
Telefónica Brazil | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 4,659 | 4,427 | 4,154 |
Telefónica Brazil | Fixed | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 4,428 | ||
Telefónica Brazil | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 7,360 | 6,663 | 6,906 |
Telefónica Brazil | Mobile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 6,669 | ||
Telefónica Brazil | Other and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Brazil | Other and elims. | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Hispanoamérica | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,552 | 12,579 | 14,387 |
Telefónica Hispanoamérica | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 12,579 | ||
Telefónica Hispanoamérica | Argentina | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 3,495 | 3,000 | 3,915 |
Telefónica Hispanoamérica | Argentina | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 3,000 | ||
Telefónica Hispanoamérica | Chile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,185 | 2,163 | 2,220 |
Telefónica Hispanoamérica | Chile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,163 | ||
Telefónica Hispanoamérica | Peru | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,318 | 2,499 | 2,766 |
Telefónica Hispanoamérica | Peru | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,499 | ||
Telefónica Hispanoamérica | Colombia | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,463 | 1,409 | 1,508 |
Telefónica Hispanoamérica | Colombia | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,409 | ||
Telefónica Hispanoamérica | Mexico | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,336 | 1,410 | 1,783 |
Telefónica Hispanoamérica | Mexico | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,410 | ||
Telefónica Hispanoamérica | Fixed | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 3,964 | 3,999 | 4,070 |
Telefónica Hispanoamérica | Fixed | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 3,732 | ||
Telefónica Hispanoamérica | Fixed | Argentina | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,216 | 1,133 | 1,376 |
Telefónica Hispanoamérica | Fixed | Argentina | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,133 | ||
Telefónica Hispanoamérica | Fixed | Chile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 926 | 926 | 928 |
Telefónica Hispanoamérica | Fixed | Chile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 925 | ||
Telefónica Hispanoamérica | Fixed | Peru | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,092 | 1,126 | 1,200 |
Telefónica Hispanoamérica | Fixed | Peru | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,126 | ||
Telefónica Hispanoamérica | Fixed | Colombia | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 554 | 548 | 566 |
Telefónica Hispanoamérica | Fixed | Colombia | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 548 | ||
Telefónica Hispanoamérica | Fixed | Mexico | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Hispanoamérica | Fixed | Mexico | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Hispanoamérica | Mobile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 8,588 | 8,580 | 10,347 |
Telefónica Hispanoamérica | Mobile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 8,882 | ||
Telefónica Hispanoamérica | Mobile | Argentina | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 2,279 | 1,867 | 2,539 |
Telefónica Hispanoamérica | Mobile | Argentina | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,867 | ||
Telefónica Hispanoamérica | Mobile | Chile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,259 | 1,237 | 1,292 |
Telefónica Hispanoamérica | Mobile | Chile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,238 | ||
Telefónica Hispanoamérica | Mobile | Peru | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,226 | 1,373 | 1,566 |
Telefónica Hispanoamérica | Mobile | Peru | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,373 | ||
Telefónica Hispanoamérica | Mobile | Colombia | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 909 | 861 | 942 |
Telefónica Hispanoamérica | Mobile | Colombia | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 861 | ||
Telefónica Hispanoamérica | Mobile | Mexico | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,336 | 1,410 | 1,783 |
Telefónica Hispanoamérica | Mobile | Mexico | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 1,410 | ||
Telefónica Hispanoamérica | Other and elims. | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | (30) |
Telefónica Hispanoamérica | Other and elims. | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | (35) | ||
Telefónica Hispanoamérica | Other and elims. | Argentina | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Hispanoamérica | Other and elims. | Argentina | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Hispanoamérica | Other and elims. | Chile | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Hispanoamérica | Other and elims. | Chile | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Hispanoamérica | Other and elims. | Peru | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Hispanoamérica | Other and elims. | Peru | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Hispanoamérica | Other and elims. | Colombia | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | 0 | 0 |
Telefónica Hispanoamérica | Other and elims. | Colombia | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | 0 | ||
Telefónica Hispanoamérica | Other and elims. | Mexico | Operating segments | |||
Disclosure of geographical areas [line items] | |||
Revenues | € 0 | 0 | € 0 |
Telefónica Hispanoamérica | Other and elims. | Mexico | Operating segments | Previously stated | |||
Disclosure of geographical areas [line items] | |||
Revenues | € 0 |
Business Combinations and Acq78
Business Combinations and Acquisitions of Non-Controlling Interests - Coltel Acquisitions (Details) € in Millions, COP in Millions | Dec. 31, 2017EUR (€) | Sep. 30, 2017EUR (€) | Sep. 30, 2017COP | Dec. 31, 2016EUR (€) |
Disclosure of detailed information about business combination [line items] | ||||
Goodwill | € 26,841 | € 28,686 | ||
Impact on the consolidated cash flows | € 85 | |||
Colombia Telecomunicaciones, S.A., ESP | Telebucaramanga, Metrotel, and Optecom Acquisition | ||||
Disclosure of detailed information about business combination [line items] | ||||
Consideration paid for the acquisition of control (1) | 147 | COP 509,975 | ||
Fair value of the prior stake | 41 | |||
Fair value of the minority stake | 3 | |||
Consideration transferred | 191 | |||
Intangible assets | 21 | |||
Property, plant and equipment | 113 | |||
Deferred tax assets | 10 | |||
Other non-current assets | 7 | |||
Cash and cash equivalents | 13 | |||
Other current assets | 22 | |||
Deferred tax liabilities | (10) | |||
Other non-current liabilities | (99) | |||
Current liabilities | (33) | |||
Fair value of net assets | 44 | |||
Goodwill | 147 | |||
Colombia Telecomunicaciones, S.A., ESP | Customer base | Telebucaramanga, Metrotel, and Optecom Acquisition | ||||
Disclosure of detailed information about business combination [line items] | ||||
Intangible assets | 20 | |||
Colombia Telecomunicaciones, S.A., ESP | Other intangible assets | Telebucaramanga, Metrotel, and Optecom Acquisition | ||||
Disclosure of detailed information about business combination [line items] | ||||
Intangible assets | € 1 |
Business Combinations and Acq79
Business Combinations and Acquisitions of Non-Controlling Interests - Finalization of the Purchase Price Allocation of GVT (Details) - GVT € in Millions | Sep. 19, 2014EUR (€) |
Disclosure of detailed information about business combination [line items] | |
Gross cash consideration | € 4,663 |
Percent of share capital transferred | 0.12 |
Business Combinations and Acq80
Business Combinations and Acquisitions of Non-Controlling Interests - Total Consideration, Fair Values of Assets and Liabilities Identified at Acquisition Date, and Goodwill from GVT Acquisition (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Sep. 19, 2014 |
Disclosure of detailed information about business combination [line items] | |||
Goodwill | € 26,841 | € 28,686 | |
GVT | |||
Disclosure of detailed information about business combination [line items] | |||
Gross cash consideration | € 4,663 | ||
Contingent consideration | (102) | ||
Fair value of the T. Deutschland shares purchased by KPN | 2,476 | ||
Consideration transferred | 7,241 | ||
Price adjustment for net debt and hedges | (2,168) | ||
Intangible assets | 835 | ||
Property, plant and equipment | 2,374 | ||
Deferred tax assets | 182 | ||
Accounts receivable | 282 | ||
Other assets | 256 | ||
Cash and cash equivalents | 116 | ||
Financial debt | (2,102) | ||
Trade and other payables | (202) | ||
Provisions | (208) | ||
Other liabilities | 217 | ||
Fair value of net assets | 1,316 | ||
Goodwill | 3,757 | ||
GVT | Customer relationships | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 751 | ||
GVT | Other intangible assets | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | € 84 |
Business Combinations and Acq81
Business Combinations and Acquisitions of Non-Controlling Interests - Finalization of the Purchase Price Allocation of DTS (Details) - DTS € in Millions | Apr. 30, 2015EUR (€) |
Disclosure of detailed information about business combination [line items] | |
Percent of share capital acquired | 56.00% |
Consideration transferred | € 725 |
Business Combinations and Acq82
Business Combinations and Acquisitions of Non-Controlling Interests - Total Consideration, Fair Values of Assets and Liabilities Identified at Acquisition Date, and Goodwill from DTS Acquisition (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Apr. 30, 2015 |
Disclosure of detailed information about business combination [line items] | |||
Goodwill | € 26,841 | € 28,686 | |
DTS | |||
Disclosure of detailed information about business combination [line items] | |||
Consideration transferred | € 725 | ||
Fair value of the prior stake | 739 | ||
Intangible assets | 378 | ||
Property, plant and equipment | 91 | ||
Deferred tax assets | 454 | ||
Trade and other receivables | 137 | ||
Other assets | 213 | ||
Financial debt | (350) | ||
Trade and other payables | (367) | ||
Other liabilities | 66 | ||
Fair value of net assets | 490 | ||
Goodwill | 974 | ||
Customer base | DTS | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | 362 | ||
Other intangible assets | DTS | |||
Disclosure of detailed information about business combination [line items] | |||
Intangible assets | € 16 |
Business Combinations and Acq83
Business Combinations and Acquisitions of Non-Controlling Interests - Share Exchange with KPN (Details) € in Millions | Feb. 28, 2017 | Dec. 31, 2017EUR (€) | Mar. 31, 2017EUR (€)shares | Dec. 31, 2017EUR (€)shares | Dec. 31, 2016EUR (€)shares | Dec. 31, 2015EUR (€)shares |
Disclosure of detailed information about business combination [line items] | ||||||
Increase (decrease) in equity through change in equity of equity holders | € 1,843 | € (7) | € 2,424 | |||
Increase (decrease) in equity through treasury share transactions | € 35 | (637) | (1,586) | |||
Telefónica Deutschland Holding, A.G. | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percent of ownership interest in subsidiary | 63.20% | 69.20% | 69.22% | |||
Koninklijke KPN NV | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Treasury shares delivered | shares | 72,000,000 | |||||
Percent of share capital transferred | 0.0143 | |||||
Increase (decrease) in equity through change in equity of equity holders | € (671) | |||||
Number of shares received in exchange for treasury shares | shares | 178,500,000 | |||||
Koninklijke KPN NV | Telefónica Deutschland Holding, A.G. | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Percent of share capital transferred | 0.060 | |||||
Treasury shares | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Increase (decrease) in equity through change in equity of equity holders | € 754 | 555 | ||||
Increase (decrease) in equity through treasury share transactions | € 35 | € (637) | € (1,511) | |||
Number of shares received in exchange for treasury shares | shares | 0 | 77,087,297 | 138,036,450 | |||
Treasury shares | Koninklijke KPN NV | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Increase (decrease) in equity through treasury share transactions | € (754) | |||||
Retained earnings | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Increase (decrease) in equity through change in equity of equity holders | € 570 | € 449 | € (1,297) | |||
Increase (decrease) in equity through treasury share transactions | € (75) | |||||
Retained earnings | Koninklijke KPN NV | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Increase (decrease) in equity through treasury share transactions | € 83 |
Business Combinations and Acq84
Business Combinations and Acquisitions of Non-Controlling Interests - Sale of Texius Telecom, S.A. (Details) € / shares in Units, € in Millions, shares in Millions | Nov. 13, 2017EUR (€)shares€ / shares | Oct. 24, 2017EUR (€)€ / sharesshares | Feb. 20, 2017EUR (€)shares€ / shares | Dec. 31, 2017EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) |
Disclosure of detailed information about business combination [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | € 1,843 | € (7) | € 2,424 | ||||
Telxius Telecom, S.A. | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of share capital acquired | 40.00% | 40.00% | 40.00% | ||||
Purchase of investment interest | € 1,275 | ||||||
Share price (euros per share) | € / shares | € 12.75 | ||||||
Increase (decrease) in equity through change in translation differences | € (3) | ||||||
Telxius Telecom, S.A. | KKR | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of share capital acquired | 15.20% | 15.20% | 40.00% | 40.00% | |||
Purchase of investment interest | € 484.5 | € 484.5 | € 1,275 | ||||
Share price (euros per share) | € / shares | € 12.75 | ||||||
Number of share options exercised | shares | 38 | 38 | |||||
Increase (decrease) in equity through change in equity of equity holders | 690 | ||||||
KKR | Telxius Telecom, S.A. | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Share price (euros per share) | € / shares | € 12.75 | ||||||
Number of shares exchanged for cash | shares | 62 | 62 | |||||
Percent of share capital transferred | 0.248 | 0.248 | |||||
Proceeds from exchange of share capital | € 790.5 | € 790.5 | |||||
Retained earnings | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | 570 | € 449 | (1,297) | ||||
Retained earnings | Telxius Telecom, S.A. | KKR | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Increase (decrease) in equity through appropriation of retained earnings | 570 | ||||||
Translation differences | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Increase (decrease) in equity through change in equity of equity holders | (9) | € (9) | € 628 | ||||
Translation differences | Telxius Telecom, S.A. | KKR | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Increase (decrease) in equity through change in translation differences | € (9) |
Business Combinations and Acq85
Business Combinations and Acquisitions of Non-Controlling Interests - Acquisition from Vivendi of 4.5% Telefonica Brasil (Details) € in Millions, shares in Millions | Jun. 24, 2015EUR (€)shares | Sep. 30, 2015 | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) |
Disclosure of detailed information about business combination [line items] | ||||
Effect on equity attributable to parent company | € (16,920) | € (18,157) | ||
Telefónica Brazil | ||||
Disclosure of detailed information about business combination [line items] | ||||
Percent of voting equity interests acquired | 4.50% | |||
Percent of share capital transferred | 0.0095 | |||
Effect on equity attributable to parent company | € 277 | |||
Percent of ownership interest in subsidiary | 70.13% | 73.60% | ||
Percent of ownership interest in subsidiary, including effect of treasury shares | 70.22% | |||
Telecom Italia | Telefónica Brazil | ||||
Disclosure of detailed information about business combination [line items] | ||||
Ordinary shares transferred as consideration for acquisition | shares | 1,110 | |||
Percent of voting equity transferred as consideration for acquisition | 8.20% | |||
Percent of share capital transferred | 0.057 | |||
Fair value of shares transferred | € 1,264 |
Business Combinations and Acq86
Business Combinations and Acquisitions of Non-Controlling Interests - Agreement with Vivendi for the Exchange of Shares of Telefonica Brasil for Treasury Shares of Telefonica S.A. (Details) € in Millions, shares in Millions | Jun. 24, 2015 | Sep. 30, 2015EUR (€)shares | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) |
Disclosure of detailed information about business combination [line items] | |||||
Net movement in treasury shares | € 35 | € (637) | € (1,586) | ||
Treasury Shares | |||||
Disclosure of detailed information about business combination [line items] | |||||
Net movement in treasury shares | € 35 | € (637) | (1,511) | ||
Retained earnings | |||||
Disclosure of detailed information about business combination [line items] | |||||
Net movement in treasury shares | € (75) | ||||
Telefónica Brazil | |||||
Disclosure of detailed information about business combination [line items] | |||||
Treasury shares delivered | shares | 46 | ||||
Percent of share capital transferred | 0.0095 | ||||
Number of preferred shares received | shares | 58.4 | ||||
Percentage of share capital acquired | 3.50% | ||||
Percent of ownership interest in subsidiary | 70.13% | 73.60% | |||
Telefónica Brazil | Treasury Shares | |||||
Disclosure of detailed information about business combination [line items] | |||||
Net movement in treasury shares | € 555 | ||||
Telefónica Brazil | Retained earnings | |||||
Disclosure of detailed information about business combination [line items] | |||||
Net movement in treasury shares | € 69 |
Intangible Assets - Composition
Intangible Assets - Composition and Movements in Net Intangible Assets (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | € 20,518 | € 21,149 |
Additions | 1,818 | 1,680 |
Amortization | (3,443) | (3,698) |
Disposals | 2 | (28) |
Transfers and others | 398 | 481 |
Translation differences and hyperinflation adjustments | (1,315) | 933 |
Inclusion of companies | 27 | 1 |
Ending balance | 18,005 | 20,518 |
Service concession arrangements and licenses | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 11,594 | 11,881 |
Additions | 493 | 340 |
Amortization | (1,234) | (1,230) |
Disposals | 0 | (15) |
Transfers and others | 852 | (2) |
Translation differences and hyperinflation adjustments | (920) | 620 |
Inclusion of companies | 0 | 0 |
Ending balance | 10,785 | 11,594 |
Software | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 2,892 | 2,722 |
Additions | 640 | 836 |
Amortization | (1,441) | (1,686) |
Disposals | 0 | (16) |
Transfers and others | 1,109 | 866 |
Translation differences and hyperinflation adjustments | (216) | 170 |
Inclusion of companies | 3 | 0 |
Ending balance | 2,987 | 2,892 |
Customer base | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 3,435 | 3,932 |
Additions | 0 | 0 |
Amortization | (639) | (632) |
Disposals | 0 | 0 |
Transfers and others | 1 | 0 |
Translation differences and hyperinflation adjustments | (87) | 135 |
Inclusion of companies | 21 | 0 |
Ending balance | 2,731 | 3,435 |
Trademarks | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 912 | 978 |
Additions | 0 | 1 |
Amortization | (74) | (87) |
Disposals | 0 | 0 |
Transfers and others | 0 | 0 |
Translation differences and hyperinflation adjustments | (58) | 20 |
Inclusion of companies | 0 | 0 |
Ending balance | 780 | 912 |
Other intangible assets | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 127 | 147 |
Additions | 18 | 32 |
Amortization | (55) | (63) |
Disposals | 2 | 1 |
Transfers and others | (5) | 7 |
Translation differences and hyperinflation adjustments | (4) | 2 |
Inclusion of companies | 3 | 1 |
Ending balance | 86 | 127 |
Intangible assets in process | ||
Reconciliation of changes in intangible assets other than goodwill [abstract] | ||
Beginning balance | 1,558 | 1,489 |
Additions | 667 | 471 |
Amortization | 0 | 0 |
Disposals | 0 | 2 |
Transfers and others | (1,559) | (390) |
Translation differences and hyperinflation adjustments | (30) | (14) |
Inclusion of companies | 0 | 0 |
Ending balance | € 636 | € 1,558 |
Intangible Assets - Gross Cost,
Intangible Assets - Gross Cost, Accumulated Amortization and Impairment Losses of Intangible Assets (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | € 18,005 | € 20,518 | € 21,149 |
Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 48,297 | 50,167 | |
Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (30,290) | (29,641) | |
Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (2) | (8) | |
Service concession arrangements and licenses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 10,785 | 11,594 | 11,881 |
Service concession arrangements and licenses | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 21,333 | 21,843 | |
Service concession arrangements and licenses | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (10,548) | (10,249) | |
Service concession arrangements and licenses | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 0 | 0 | |
Software | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 2,987 | 2,892 | 2,722 |
Software | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 16,407 | 16,361 | |
Software | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (13,420) | (13,466) | |
Software | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 0 | (3) | |
Customer base | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 2,731 | 3,435 | 3,932 |
Customer base | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 6,931 | 7,253 | |
Customer base | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (4,200) | (3,818) | |
Customer base | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 0 | 0 | |
Trademarks | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 780 | 912 | 978 |
Trademarks | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 1,909 | 2,017 | |
Trademarks | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (1,129) | (1,105) | |
Trademarks | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 0 | 0 | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 86 | 127 | 147 |
Other intangible assets | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 1,081 | 1,135 | |
Other intangible assets | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (993) | (1,003) | |
Other intangible assets | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | (2) | (5) | |
Intangible assets in process | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 636 | 1,558 | € 1,489 |
Intangible assets in process | Gross cost | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 636 | 1,558 | |
Intangible assets in process | Accumulated amortization | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 0 | 0 | |
Intangible assets in process | Impairment losses | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | € 0 | € 0 |
Intangible Assets - Narrative (
Intangible Assets - Narrative (Details) € in Millions, COP in Millions | Mar. 27, 2014 | Mar. 31, 2014 | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Sep. 27, 2017EUR (€) | Sep. 27, 2017COP | Aug. 29, 2017EUR (€) | Aug. 29, 2017COP | Jul. 25, 2017EUR (€) | Jul. 25, 2017COP |
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additional period for license renewal | 10 years | |||||||||
Issued capital | € 934 | COP 3,240,652 | € 317 | COP 1,114,433 | ||||||
Additions | € 1,818 | € 1,680 | ||||||||
Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 493 | 340 | ||||||||
Colombia Telecomunicaciones, S.A., ESP | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Percent of ownership interest in subsidiary | 67.50% | |||||||||
Proportion of ownership interests held by non-controlling interests | 32.50% | |||||||||
Additional period for license renewal | 10 years | |||||||||
Telefónica El Salvador | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Percent of ownership interest in subsidiary | 59.58% | |||||||||
Telefónica El Salvador | Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 15 | |||||||||
Telefónica México | Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 4 | |||||||||
Telefónica Uruguay | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Percent of ownership interest in subsidiary | 100.00% | |||||||||
Telefónica Uruguay | Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 23 | |||||||||
Telefónica Uruguay | Service concession arrangements and licenses [Member] | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 4 | |||||||||
Telefónica Costa Rica | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Percent of ownership interest in subsidiary | 100.00% | |||||||||
Telefónica Costa Rica | Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 21 | |||||||||
Telefónica Peru | Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | 284 | |||||||||
Telefónica Brazil | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Percent of ownership interest in subsidiary | 73.68% | |||||||||
Telefónica Brazil | Service concession arrangements and licenses | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Additions | € 48 | |||||||||
Colombia Telecomunicaciones, S.A., ESP | ||||||||||
Disclosure of detailed information about intangible assets [line items] | ||||||||||
Issued capital | € 1,384 | COP 4,800,966 | € 470 | COP 1,651,012 | € 470 | COP 1,651,012 |
Goodwill - Reconciliation of Go
Goodwill - Reconciliation of Goodwill by Group Segment (Details) - Goodwill - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | € 28,686 | € 27,395 |
Acquisitions | 175 | 26 |
Write-offs | 0 | (228) |
Translation differences and other | (2,020) | 1,493 |
Ending balance | 26,841 | 28,686 |
Others | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 164 | 149 |
Acquisitions | 0 | 26 |
Write-offs | 0 | (13) |
Translation differences and other | (78) | 2 |
Ending balance | 86 | 164 |
Telefónica Spain | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 4,306 | 4,306 |
Acquisitions | 0 | 0 |
Write-offs | 0 | 0 |
Translation differences and other | 4 | 0 |
Ending balance | 4,310 | 4,306 |
Telefónica Brazil | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 11,565 | 9,345 |
Acquisitions | 0 | 0 |
Write-offs | 0 | 0 |
Translation differences and other | (1,508) | 2,220 |
Ending balance | 10,057 | 11,565 |
Telefónica Germany | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 4,787 | 4,787 |
Acquisitions | 28 | 0 |
Write-offs | 0 | 0 |
Translation differences and other | 0 | 0 |
Ending balance | 4,815 | 4,787 |
Telefónica United Kingdom | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 4,824 | 5,621 |
Acquisitions | 0 | 0 |
Write-offs | 0 | 0 |
Translation differences and other | (176) | (797) |
Ending balance | 4,648 | 4,824 |
Telefónica Hispanoamérica | Operating segments | ||
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
Beginning balance | 3,040 | 3,187 |
Acquisitions | 147 | 0 |
Write-offs | 0 | (215) |
Translation differences and other | (262) | 68 |
Ending balance | € 2,925 | € 3,040 |
Goodwill - Narrative (Details)
Goodwill - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about intangible assets [line items] | ||
Term of strategic plan | 4 years | |
Years of cash flows | 5 years | |
Normalization period added to term of strategic plan | 2 years | |
Goodwill | ||
Disclosure of detailed information about intangible assets [line items] | ||
Impairment loss | € 0 | € 228 |
Telefónica Venezuela | Goodwill | ||
Disclosure of detailed information about intangible assets [line items] | ||
Impairment loss | 124 | |
Telefónica Móviles México | Goodwill | ||
Disclosure of detailed information about intangible assets [line items] | ||
Impairment loss | 91 | |
Televisión Federal S.A.- TELEFE Provision and operation TV and radio broadcasting-services | Goodwill | ||
Disclosure of detailed information about intangible assets [line items] | ||
Decrease of goodwill in relation to sale | € 13 | |
Telefónica Spain | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 39.00% | |
Long-term capital expenditure (CapEx) ratio | 13.00% | |
Growth rate used to extrapolate cash flow projections | 0.80% | 0.80% |
Telefónica Spain | Forecast | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 41.00% | |
Telefónica Germany | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 27.00% | |
Long-term capital expenditure (CapEx) ratio | 13.00% | |
Growth rate used to extrapolate cash flow projections | 1.00% | 1.00% |
Telefónica Germany | Forecast | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 28.00% | |
Telefónica United Kingdom | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 24.00% | |
Long-term capital expenditure (CapEx) ratio | 13.00% | |
Growth rate used to extrapolate cash flow projections | 0.80% | 0.80% |
Telefónica United Kingdom | Forecast | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 25.00% | |
Telefónica Brazil | ||
Disclosure of detailed information about intangible assets [line items] | ||
OIBDA margin ratio | 37.00% | |
Long-term capital expenditure (CapEx) ratio | 17.00% | |
Growth rate used to extrapolate cash flow projections | 4.50% | 5.00% |
Telefónica Brazil | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate used to extrapolate cash flow projections | 7.50% | |
Telefonica Moviles Mexico [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate used to extrapolate cash flow projections | 3.00% | |
Telefonica Moviles Mexico [Member] | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate used to extrapolate cash flow projections | 65.00% |
Goodwill - Allocation of Goodwi
Goodwill - Allocation of Goodwill to Cash-Generating Units (Details) - Goodwill - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | € 26,841 | € 28,686 | € 27,395 |
Others | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 86 | 164 | 149 |
Telefónica Spain | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 4,310 | 4,306 | 4,306 |
Telefónica Brazil | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 10,057 | 11,565 | 9,345 |
Telefónica Germany | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 4,815 | 4,787 | 4,787 |
Telefónica United Kingdom | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 4,648 | 4,824 | 5,621 |
Telefónica Hispanoamérica | Operating segments | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 2,925 | 3,040 | € 3,187 |
Telefónica Hispanoamérica | Operating segments | Chile | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 978 | 1,022 | |
Telefónica Hispanoamérica | Operating segments | Peru | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 739 | 813 | |
Telefónica Hispanoamérica | Operating segments | Mexico | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 339 | 368 | |
Telefónica Hispanoamérica | Operating segments | Argentina | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | 161 | 217 | |
Telefónica Hispanoamérica | Operating segments | Others Telefónica Hispanoamérica | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill | € 708 | € 620 |
Goodwill - After-Tax Discount R
Goodwill - After-Tax Discount Rates Applied to the Cash Flow Projections (Details) | Dec. 31, 2017 | Dec. 31, 2016 |
Telefónica Spain | ||
Disclosure of detailed information about intangible assets [line items] | ||
After-tax discount rates applied to cash flow projections | 5.90% | 6.20% |
Telefónica Brazil | ||
Disclosure of detailed information about intangible assets [line items] | ||
After-tax discount rates applied to cash flow projections | 10.90% | 11.30% |
Telefónica United Kingdom | ||
Disclosure of detailed information about intangible assets [line items] | ||
After-tax discount rates applied to cash flow projections | 6.30% | 7.10% |
Telefónica Germany | ||
Disclosure of detailed information about intangible assets [line items] | ||
After-tax discount rates applied to cash flow projections | 4.70% | 5.70% |
Goodwill - Perpetuity Growth Ra
Goodwill - Perpetuity Growth Rate Applied to Cash Flow Projections (Details) | Dec. 31, 2017 | Dec. 31, 2016 |
Telefónica Spain | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections | 0.80% | 0.80% |
Telefónica Brazil | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections | 4.50% | 5.00% |
Targeted growth rate | 4.00% | |
Telefónica Brazil | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections | 7.50% | |
Telefónica United Kingdom | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections | 0.80% | 0.80% |
Telefónica Germany | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections | 1.00% | 1.00% |
Telefónica Europe | Maximum | ||
Disclosure of detailed information about intangible assets [line items] | ||
Growth rate applied to cash flow projections | 1.00% |
Goodwill - Sensitivity to Chang
Goodwill - Sensitivity to Changes in Assumptions (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Telefónica Spain | Discount rate | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.50%) |
Telefónica Spain | Discount rate | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.50% |
Telefónica Spain | Perpetuity growth rates | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.25%) |
Telefónica Spain | Perpetuity growth rates | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.25% |
Telefónica Spain | OIBDA Margin | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (2.00%) |
Telefónica Spain | OIBDA Margin | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 2.00% |
Telefónica Spain | Ratio of CapEx/Revenues | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (1.00%) |
Telefónica Spain | Ratio of CapEx/Revenues | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 1.00% |
Telefónica Germany | Discount rate | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.50%) |
Telefónica Germany | Discount rate | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.50% |
Telefónica Germany | Perpetuity growth rates | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.25%) |
Telefónica Germany | Perpetuity growth rates | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.25% |
Telefónica Germany | OIBDA Margin | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (2.00%) |
Telefónica Germany | OIBDA Margin | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 2.00% |
Telefónica Germany | Ratio of CapEx/Revenues | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (1.00%) |
Telefónica Germany | Ratio of CapEx/Revenues | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 1.00% |
Telefónica United Kingdom | Discount rate | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.50%) |
Telefónica United Kingdom | Discount rate | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.50% |
Telefónica United Kingdom | Perpetuity growth rates | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.25%) |
Telefónica United Kingdom | Perpetuity growth rates | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.25% |
Telefónica United Kingdom | OIBDA Margin | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (1.50%) |
Telefónica United Kingdom | OIBDA Margin | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 1.50% |
Telefónica United Kingdom | Ratio of CapEx/Revenues | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (0.75%) |
Telefónica United Kingdom | Ratio of CapEx/Revenues | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 0.75% |
Telefónica Brazil | Discount rate | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (1.00%) |
Telefónica Brazil | Discount rate | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 1.00% |
Telefónica Brazil | Perpetuity growth rates | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (1.00%) |
Telefónica Brazil | Perpetuity growth rates | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 1.00% |
Telefónica Brazil | OIBDA Margin | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (2.00%) |
Telefónica Brazil | OIBDA Margin | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 2.00% |
Telefónica Brazil | Ratio of CapEx/Revenues | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | (1.00%) |
Telefónica Brazil | Ratio of CapEx/Revenues | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 1.00% |
Telefónica México | Perpetuity growth rates | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Impact for additional goodwill impairment | € 65 |
Telefónica México | Weighted Average Cost of Capital (WACC) | Minimum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 9.55% |
Telefónica México | Weighted Average Cost of Capital (WACC) | Maximum | |
Disclosure of detailed information about intangible assets [line items] | |
Change in key assumption rate | 10.05% |
Property, Plant and Equipment -
Property, Plant and Equipment - Composition of and Movement in Net Property, Plant and Equipment (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment | € 36,393 | € 33,910 |
Additions | 6,879 | 7,248 |
Depreciation | (5,953) | (5,951) |
Disposals | (22) | (89) |
Transfers and others | (413) | (359) |
Translation differences and hyperinflation adjustments | (2,772) | 1,661 |
Inclusion of companies | 113 | |
Exclusion of companies | (27) | |
Property, plant and equipment | 34,225 | 36,393 |
Land and buildings | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment | 4,858 | 4,851 |
Additions | 64 | 59 |
Depreciation | (391) | (386) |
Disposals | (14) | (36) |
Transfers and others | 139 | 198 |
Translation differences and hyperinflation adjustments | (293) | 173 |
Inclusion of companies | 20 | |
Exclusion of companies | (1) | |
Property, plant and equipment | 4,383 | 4,858 |
Plant and machinery | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment | 26,770 | 24,682 |
Additions | 2,096 | 1,325 |
Depreciation | (5,062) | (5,034) |
Disposals | 4 | (22) |
Transfers and others | 3,455 | 4,464 |
Translation differences and hyperinflation adjustments | (2,039) | 1,369 |
Inclusion of companies | 73 | |
Exclusion of companies | (14) | |
Property, plant and equipment | 25,297 | 26,770 |
Furniture, tools and other items | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment | 1,426 | 1,412 |
Additions | 223 | 190 |
Depreciation | (500) | (531) |
Disposals | (4) | (19) |
Transfers and others | 230 | 344 |
Translation differences and hyperinflation adjustments | (117) | 30 |
Inclusion of companies | 9 | |
Exclusion of companies | 0 | |
Property, plant and equipment | 1,267 | 1,426 |
PP&E in progress | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Property, plant and equipment | 3,339 | 2,965 |
Additions | 4,496 | 5,674 |
Depreciation | 0 | 0 |
Disposals | (8) | (12) |
Transfers and others | (4,237) | (5,365) |
Translation differences and hyperinflation adjustments | (323) | 89 |
Inclusion of companies | 11 | |
Exclusion of companies | (12) | |
Property, plant and equipment | € 3,278 | € 3,339 |
Property, Plant and Equipment97
Property, Plant and Equipment - Gross Cost, Accumulated Depreciation and Impairment Losses of Property, Plant and Equipment (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | € 34,225 | € 36,393 | € 33,910 |
Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 117,868 | 122,513 | |
Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (83,551) | (85,942) | |
Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (92) | (178) | |
Land and buildings | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 4,383 | 4,858 | 4,851 |
Land and buildings | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 11,344 | 11,930 | |
Land and buildings | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (6,958) | (7,069) | |
Land and buildings | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (3) | (3) | |
Plant and machinery | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 25,297 | 26,770 | 24,682 |
Plant and machinery | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 96,335 | 99,945 | |
Plant and machinery | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (70,969) | (73,021) | |
Plant and machinery | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (69) | (154) | |
Furniture, tools and other items | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 1,267 | 1,426 | 1,412 |
Furniture, tools and other items | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 6,900 | 7,288 | |
Furniture, tools and other items | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (5,624) | (5,852) | |
Furniture, tools and other items | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | (9) | (10) | |
PP&E in progress | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 3,278 | 3,339 | € 2,965 |
PP&E in progress | Gross cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 3,289 | 3,350 | |
PP&E in progress | Accumulated depreciation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 0 | 0 | |
PP&E in progress | Impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | € (11) | € (11) |
Property, Plant and Equipment98
Property, Plant and Equipment - Narrative (Details) € in Millions, premise in Millions | 12 Months Ended | ||
Dec. 31, 2017EUR (€)premise | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Additions | € 6,879 | € 7,248 | |
Property, plant and equipment | 34,225 | 36,393 | € 33,910 |
Financing leases | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 254 | 476 | |
Telefónica Spain | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Additions | € 1,451 | 1,615 | |
Number of premises covered by fiber optic roll out | premise | 19 | ||
Percent of population coverage by LTE networks | 97.00% | ||
Telefónica United Kingdom | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Additions | € 727 | 775 | |
Percent of population coverage by LTE networks | 99.00% | ||
Telefónica Germany | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Additions | € 675 | 742 | |
Percent of population coverage by LTE networks | 82.00% | ||
Telefónica Brazil | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Additions | € 1,842 | 1,782 | |
Telefónica Hispanoamérica | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Additions | € 1,926 | € 2,164 |
Associates and Joint Ventures -
Associates and Joint Ventures - Summary (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure Of Joint Ventures And Associates [Line Items] | |||
Investments accounted for by the equity method | € 77 | € 76 | |
Receivables from associates and joint ventures for current operations (Note 11) | 32 | 28 | |
Financial debt, associates and joint ventures | 0 | 0 | |
Payables to associates and joint ventures (Note 14) | 491 | 497 | |
Revenue from operations with associates and joint ventures | 52,008 | 52,036 | € 54,916 |
Financial expenses with associates and joint ventures | 3,363 | 4,476 | 4,417 |
Associates and Joint Ventures | |||
Disclosure Of Joint Ventures And Associates [Line Items] | |||
Investments accounted for by the equity method | 77 | 76 | 80 |
Loans to associates and joint ventures | 16 | 16 | |
Receivables from associates and joint ventures for current operations (Note 11) | 32 | 28 | |
Financial debt, associates and joint ventures | 10 | 9 | |
Payables to associates and joint ventures (Note 14) | 491 | 497 | |
Share of income (loss) of investments accounted for by the equity method | 5 | (5) | (10) |
Revenue from operations with associates and joint ventures | 218 | 213 | 217 |
Expenses from operations with associates and joint ventures | 20 | 32 | 85 |
Financial expenses with associates and joint ventures | € 0 | € 2 | € 17 |
Associates and Joint Venture100
Associates and Joint Ventures - Equity Method Investment of Associates (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of associates [line items] | |||
Investments accounted for by the equity method at period start | € 76 | ||
Translation differences and other comprehensive income | (5,422) | € 3,152 | € (6,762) |
Investments accounted for by the equity method at period end | 77 | 76 | |
Associates and Joint Ventures | |||
Disclosure of associates [line items] | |||
Investments accounted for by the equity method at period start | 76 | 80 | |
Additions | 8 | 17 | |
Translation differences and other comprehensive income | (1) | 2 | |
Income (loss) | 5 | (5) | (10) |
Dividends | (11) | (13) | |
Transfers and other | (5) | ||
Investments accounted for by the equity method at period end | € 77 | € 76 | € 80 |
Associates and Joint Venture101
Associates and Joint Ventures - Narrative (Details) € in Millions | Dec. 31, 2016EUR (€) |
DTS | |
Disclosure Of Joint Ventures And Associates [Line Items] | |
Additions | € 7 |
Related Parties - Narrative (De
Related Parties - Narrative (Details) - EUR (€) | Dec. 18, 2015 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of transactions between related parties [line items] | |||
Derivative fair value | € 505,000,000 | ||
Unearned premiums | € 1,943,007 | € 2,088,500 | |
BBVA | |||
Disclosure of transactions between related parties [line items] | |||
Significant shareholder stake of the Company | 6.63% | ||
Blackrock inc. | |||
Disclosure of transactions between related parties [line items] | |||
Significant shareholder stake of the Company | 5.17% | ||
La Caixa | |||
Disclosure of transactions between related parties [line items] | |||
Significant shareholder stake of the Company | 5.01% | ||
DTS | |||
Disclosure of transactions between related parties [line items] | |||
Investments in joint ventures | € 7,000,000 | ||
Turnover | € 8,000,000 | ||
BBVA | |||
Disclosure of transactions between related parties [line items] | |||
Significant shareholder stake of the Company | 0.66% | 0.67% | |
Collateral guarantees on derivatives | € 222,000,000 | € 314,000,000 | |
Receipt of services | 2,000,000 | 5,000,000 | |
La Caixa | |||
Disclosure of transactions between related parties [line items] | |||
Collateral guarantees on derivatives | 51,000,000 | 50,000,000 | |
Receipt of services | 9,000,000 | 4,000,000 | |
Global Dominion Access Group | |||
Disclosure of transactions between related parties [line items] | |||
Receipt of services | 23,000,000 | ||
Inditex Group | |||
Disclosure of transactions between related parties [line items] | |||
Receipt of services | 36,000,000 | ||
China Unicom Broadband Online Limited Corp. | |||
Disclosure of transactions between related parties [line items] | |||
Proportion of ownership interest in joint operation | 55.00% | ||
Derivative instruments | BBVA | |||
Disclosure of transactions between related parties [line items] | |||
Nominal amount of hedging instrument | 21,749,000,000 | 18,047,000,000 | |
Derivative fair value | 390,000,000 | 988,000,000 | |
Collateral guarantees on derivatives | 286,000,000 | 240,000,000 | |
Derivative instruments | La Caixa | |||
Disclosure of transactions between related parties [line items] | |||
Nominal amount of hedging instrument | 404,000,000 | 392,000,000 | |
Derivative fair value | € (28,000,000) | € (35,000,000) | |
DTS | |||
Disclosure of transactions between related parties [line items] | |||
Proportion of ownership interest in joint operation | 45.00% |
Related Parties - Summary of Si
Related Parties - Summary of Significant Transactions (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
BBVA | ||
Disclosure of transactions between related parties [line items] | ||
Finance costs | € 35 | € 36 |
Receipt of services | 2 | 5 |
Purchase of goods | 0 | 0 |
Other expenses | 7 | 1 |
Total costs | 44 | 42 |
Finance income | 28 | 22 |
Contracts of management | 1 | 1 |
Dividends received | 11 | 15 |
Services rendered | 38 | 40 |
Sale of goods | 4 | 3 |
Other income | 0 | 11 |
Total revenue | 82 | 92 |
Finance arrangements: loans and capital contributions (borrower) | 1,038 | 396 |
Finance arrangements: loans and capital contributions (lender) | 0 | 0 |
Guarantees | 222 | 314 |
Commitments | 0 | 0 |
Finance arrangements: loans and capital contributions (lessee) | 1,209 | 244 |
Dividends paid | 128 | 243 |
Factoring operations | € 0 | € 533 |
Significant shareholder stake of the Company | 0.66% | 0.67% |
La Caixa | ||
Disclosure of transactions between related parties [line items] | ||
Finance costs | € 5 | € 2 |
Receipt of services | 9 | 4 |
Purchase of goods | 56 | 65 |
Other expenses | 0 | 0 |
Total costs | 70 | 71 |
Finance income | 0 | 0 |
Contracts of management | 0 | 0 |
Services rendered | 71 | 66 |
Sale of goods | 43 | 42 |
Other income | 0 | 0 |
Total revenue | 114 | 108 |
Finance arrangements: loans and capital contributions (borrower) | 292 | 45 |
Finance arrangements: loans and capital contributions (lender) | 14 | 10 |
Guarantees | 51 | 50 |
Commitments | 85 | 84 |
Finance arrangements: loans and capital contributions (lessee) | 414 | 203 |
Dividends paid | 104 | 185 |
Factoring operations | € 250 | € 250 |
Trade and Other Receivables - S
Trade and Other Receivables - Summary (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Trade receivables billed | € 7,876 | € 8,620 |
Trade receivables unbilled | 3,015 | 3,003 |
Impairment of trade receivables | (2,563) | (2,795) |
Receivables from associates and joint ventures (Note 9) | 32 | 28 |
Other receivables | 367 | 418 |
Short-term prepayments | 1,366 | 1,401 |
Total | € 10,093 | € 10,675 |
Trade and Other Receivables - I
Trade and Other Receivables - Impairment Provision (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of changes in allowance account for credit losses of financial assets [abstract] | ||
Impairment provision at period start | € 2,795 | |
Impairment provision at period end | 2,563 | € 2,795 |
Trade receivables | ||
Reconciliation of changes in allowance account for credit losses of financial assets [abstract] | ||
Impairment provision at period start | 2,795 | 2,787 |
Allowances | 998 | 915 |
Amounts applied | (1,019) | (1,044) |
Inclusion of companies | 14 | |
Translation differences and other | (225) | 137 |
Impairment provision at period end | € 2,563 | € 2,795 |
Trade and Other Receivables - N
Trade and Other Receivables - Narrative (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of trade and other receivables [Line Items] | ||
Net trade receivables | € 7,876 | € 8,620 |
Trade and other receivables | 5,345 | 5,853 |
Trade and other non-current receivables | 3,312 | 3,672 |
Trade receivables billed and past 360 days due | 197 | 260 |
Government | ||
Disclosure of trade and other receivables [Line Items] | ||
Net trade receivables | € 346 | € 331 |
Equity - Share Capital and Sha
Equity - Share Capital and Share Premium (Details) € / shares in Units, COP in Millions | Oct. 13, 2016EUR (€)shares | Oct. 11, 2016EUR (€)shares | Jul. 24, 2015EUR (€)shares | Jun. 12, 2015EUR (€) | May 30, 2014 | Dec. 31, 2017EUR (€)€ / sharesshares | Sep. 27, 2017EUR (€) | Sep. 27, 2017COP | Sep. 25, 2017shares | Sep. 20, 2017shares | Aug. 29, 2017EUR (€) | Aug. 29, 2017COP | Dec. 31, 2016EUR (€)€ / sharesshares | Dec. 07, 2016EUR (€)€ / sharesshares | Nov. 11, 2016€ / sharesshares | Nov. 13, 2015€ / sharesshares |
Disclosure of classes of share capital [line items] | ||||||||||||||||
Share capital amount | € 934,000,000 | COP 3,240,652 | € 317,000,000 | COP 1,114,433 | ||||||||||||
Increase In Share Capital Maximum Duration | 5 years | 5 years | ||||||||||||||
Proportion Of Share Capital Excluded From Pre-Emptive Subscription Rights | 20.00% | |||||||||||||||
Proportion Of Shares Acquired To Treasury Shares Held Requirement | 10.00% | |||||||||||||||
Aggregate amount of approved securities issuance | € 25,000,000,000 | |||||||||||||||
Ordinary shares | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Number of shares issued | shares | 154,341,669 | 154,326,696 | 137,233,781 | 137,233,781 | 110,857,946 | |||||||||||
Par value per share (EUR per share) | € / shares | € 1 | € 1 | € 1 | € 1 | € 1 | |||||||||||
Share capital amount | € 5,192,131,686 | € 5,037,804,990 | € 137,233,781 | |||||||||||||
Number of shares | shares | 5,192,131,686 | 5,037,804,990 | ||||||||||||||
Cancellation of shares | shares | 74,627,988 | 74,627,988 | 74,076,263 | |||||||||||||
Reduction of share capital (in shares) | € 813,000,000 | € 74,627,988 | € 886,000,000 | |||||||||||||
Maximum authorized share capital | € 2,469,208,757 |
Equity - Dividends (Details)
Equity - Dividends (Details) - EUR (€) € / shares in Units, € in Millions | Dec. 14, 2017 | Jun. 16, 2017 | Jun. 09, 2017 | Nov. 11, 2016 | May 12, 2016 | Dec. 07, 2015 | Nov. 13, 2015 | Apr. 29, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 25, 2017 | Sep. 20, 2017 | Dec. 07, 2016 |
Disclosure of classes of share capital [line items] | ||||||||||||||
Cash dividends impact on equity | € 2,602 | € 2,930 | € 2,890 | |||||||||||
Percentage of free-of-charge allotment rights | 70.01% | 79.99% | ||||||||||||
Legal reserve | 51 | |||||||||||||
Profit for the year | € 3,378 | € 2,399 | 751 | |||||||||||
Ordinary shares | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Dividends paid (in eur per share) | € 0.20 | € 0.20 | € 0.40 | € 0.40 | € 0.40 | |||||||||
Dividends paid, total amount | € 1,025 | € 994 | € 1,906 | € 1,912 | ||||||||||
Assignment dividends paid (in eur per share) | € 0.35 | |||||||||||||
Par value per share (EUR per share) | € 1 | € 1 | € 1 | € 1 | € 1 | |||||||||
Number of shares issued | 137,233,781 | 110,857,946 | 154,341,669 | 154,326,696 | 137,233,781 | |||||||||
Irrevocable purchase commitment | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Percentage of free-of-charge allotment rights | 20.01% | |||||||||||||
Non-controlling interests | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Cash dividends impact on equity | € 583 | € 524 | 641 | |||||||||||
Profit for the year | 246 | € 30 | € 135 | |||||||||||
Non-controlling interests | Ordinary shares | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Cash dividends impact on equity | € 500 | € 337 | ||||||||||||
Telefonica, S.A. | ||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||
Legal reserve | 51 | |||||||||||||
Other reserves | 503 | |||||||||||||
Profit for the year | € 554 |
Equity - Other Equity Instrume
Equity - Other Equity Instruments (Details) € / shares in Units, € in Millions, $ in Millions | Jun. 07, 2023 | Sep. 25, 2017€ / sharesshares | Sep. 24, 2014EUR (€) | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Jun. 07, 2043 | Jun. 07, 2028 | Dec. 31, 2017USD ($) | Dec. 07, 2017EUR (€) | Sep. 20, 2017shares | Dec. 07, 2016shares | Nov. 11, 2016shares | Nov. 13, 2015shares |
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 47,375 | |||||||||||||
Swap rate term | 5 years 6 months | |||||||||||||
Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | 32,903 | |||||||||||||
Retained earnings | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Payments on undated deeply subordinated securities | (263) | € (255) | € (247) | |||||||||||
Notes mandatorily convertible into shares | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Issuance of convertible notes | € 1,500 | |||||||||||||
Notes mandatorily convertible into shares | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Convertible notes, interest rate | 4.90% | |||||||||||||
Option to convert treasury shares into fix ratio | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Payments of coupons | 74 | 74 | ||||||||||||
Term debt | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | 7,518 | 6,518 | 5,518 | |||||||||||
Exercisable from issuer in 2023 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 1,000 | 0 | 0 | € 1,000 | ||||||||||
Exercisable from issuer in 2023 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 2.625% | 2.625% | ||||||||||||
Exercisable from issuer in 2023 | Fixed interest rate | Telefónica Europe, B.V. | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 2.327% | 3.327% | 2.577% | 2.625% | ||||||||||
Exercisable from issuer in 2022 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 1,000 | 1,000 | 0 | |||||||||||
Exercisable from issuer in 2022 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 3.75% | 3.75% | ||||||||||||
Exercisable From Issuer In 2020, Issued 09/15/16 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 452 | 452 | 452 | |||||||||||
Exercisable From Issuer In 2020, Issued 09/15/16 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 8.50% | 8.50% | ||||||||||||
Exercisable From Issuer In 2019 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 850 | 850 | 850 | |||||||||||
Exercisable From Issuer In 2019 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 4.20% | 4.20% | ||||||||||||
Exercisable From Issuer In 2020, Issued 03/25/14 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 750 | 750 | 750 | |||||||||||
Exercisable From Issuer In 2020, Issued 03/25/14 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 5.00% | 5.00% | ||||||||||||
Exercisable From Issuer In 2024 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 1,000 | 1,000 | 1,000 | |||||||||||
Exercisable From Issuer In 2024 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 5.875% | 5.875% | ||||||||||||
Exercisable From Issuer In 2020, Issued 11/26/13 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 716 | 716 | 716 | |||||||||||
Exercisable From Issuer In 2020, Issued 11/26/13 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 6.75% | 6.75% | ||||||||||||
Exercisable From Issuer In 2018 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 1,125 | 1,125 | 1,125 | |||||||||||
Exercisable From Issuer In 2018 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 6.50% | 6.50% | ||||||||||||
Exercisable From Issuer In 2021 | Gross carrying amount | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 625 | € 625 | € 625 | |||||||||||
Exercisable From Issuer In 2021 | Fixed interest rate | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Annual Fix | 7.625% | 7.625% | ||||||||||||
Issued by separate lender | Gross carrying amount | Colombia Telecomunicaciones, S.A., ESP | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | $ | $ 500 | |||||||||||||
Convertible notes converted into debt | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Carrying value of deeply subordinated securities | € 215 | |||||||||||||
Ordinary shares | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Number of shares issued | shares | 154,341,669 | 154,326,696 | 137,233,781 | 137,233,781 | 110,857,946 | |||||||||
Convertible notes conversion price (EUR per share) | € / shares | € 9.7174 | |||||||||||||
Treasury shares | ||||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||||
Number of shares issued | shares | 14,973 |
Equity - Legal Reserve (Detail
Equity - Legal Reserve (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Jun. 09, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure of classes of share capital [line items] | |||||
Capital | € 26,618 | € 28,385 | € 25,436 | € 30,321 | |
Legal reserve, including capital increase carried forward | 51 | ||||
Legal reserve | 51 | ||||
Legal reserve | |||||
Disclosure of classes of share capital [line items] | |||||
Capital | € 987 | € 2 | € 985 | € 984 | € 984 |
Equity - Retained Earnings (De
Equity - Retained Earnings (Details) - EUR (€) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of classes of share capital [line items] | |||
Increase (decrease) through appropriation of retained earnings | € 6,000,000 | € 8,000,000 | € 8,000,000 |
Revaluation reserve | 78,000,000 | 85,000,000 | |
Reserve for cancelled share capital | 0 | 75,000,000 | |
Capital redemption reserve | € 731,000,000 | € 731,000,000 |
Equity - Translation Differenc
Equity - Translation Differences (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | € (19,347) | € (14,740) | € (16,789) |
Brazilian real | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (8,710) | (5,999) | (9,884) |
Venezuelan bolivars (see Note 2.a) | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (3,493) | (3,165) | (3,141) |
Pound sterling | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | (3,223) | (2,918) | (1,395) |
Other currencies | |||
Disclosure of reserves within equity [line items] | |||
Accumulated contribution of translation differences | € (3,921) | € (2,658) | € (2,369) |
Equity - Treasury Share Instru
Equity - Treasury Share Instruments (Details) - EUR (€) € / shares in Thousands | Jul. 31, 2017 | Oct. 13, 2016 | Oct. 11, 2016 | Jul. 24, 2015 | Jun. 30, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of classes of share capital [line items] | |||||||||||
Acquisition price (EUR per share) | € 0 | € 0 | € 0 | ||||||||
Trading price (EUR per share) | € 0 | € 0 | € 0 | ||||||||
Market value | € 534,000,000 | € 1,246,000,000 | € 1,450,000,000 | ||||||||
Percent of total shares classified as treasury shares | 1.26514% | 2.80339% | 2.8469% | ||||||||
Purchase of treasury shares | € 668,000,000 | € 1,654,000,000 | |||||||||
Proceeds from sale of treasury shares | € 555,000,000 | ||||||||||
Percentage of total shareholder return | 77.00% | ||||||||||
Derivative financial instrument notional shares equivalent | 35,200,000 | 35,200,000 | |||||||||
Treasury shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Number of shares | 141,229,134 | 141,639,159 | 128,227,971 | 65,687,859 | 141,229,134 | 141,639,159 | |||||
Treasury shares, beginning balance | 141,229,134 | 141,639,159 | 128,227,971 | ||||||||
Acquisitions (shares) | 0 | 77,087,297 | 138,036,450 | ||||||||
Disposals (shares) | (47,824,300) | ||||||||||
Employee share option plan (shares) | (3,518,795) | (2,869,334) | (2,724,699) | ||||||||
Increase (decrease) in number of shares outstanding | 3,187,055 | 72,022,480 | 74,627,988 | 74,076,263 | |||||||
Treasury shares, ending balance | 65,687,859 | 141,229,134 | 141,639,159 | ||||||||
Reduction of share capital (in shares) | € (813,000,000) | € (886,000,000) | |||||||||
Telefónica Germany | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Acquisitions (shares) | 178,500,000 | ||||||||||
Percentage of share capital acquired | 6.00% | ||||||||||
Proceeds from sale of treasury shares | € 754,000,000 | ||||||||||
Telefónica Germany | Treasury shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Percent of total shares classified as treasury shares | 1.43% | ||||||||||
Increase (decrease) in number of shares outstanding | 2,724,699 | 72,000,000 | |||||||||
Telefónica Spain | Treasury shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Acquisitions (shares) | 46,000,000 | ||||||||||
Telefónica Brazil | Premium shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Acquisitions (shares) | 58,400,000 | ||||||||||
Ordinary shares | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Number of shares | 5,037,804,990 | 5,037,804,990 | 5,192,131,686 | 5,037,804,990 | |||||||
Treasury shares, beginning balance | 5,037,804,990 | ||||||||||
Increase (decrease) in number of shares outstanding | (74,627,988) | (74,627,988) | (74,076,263) | ||||||||
Treasury shares, ending balance | 5,192,131,686 | 5,037,804,990 | |||||||||
Reduction of share capital (in shares) | € 813,000,000 | € 74,627,988 | € 886,000,000 |
Equity - Equity Attributable t
Equity - Equity Attributable to Non-Controlling Interests (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of subsidiaries [line items] | |||
Beginning balance | € 10,228 | ||
Profit/(loss) for the year | 246 | € 30 | € 135 |
Other movements | 2 | 54 | (8) |
Ending balance | 9,698 | 10,228 | |
Telefónica Brazil | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | 5,756 | 4,644 | 3,656 |
Sales of non-controlling interests and inclusion of companies | 25 | 0 | 4,359 |
Acquisitions of non-controlling interests and exclusion of companies | 0 | 0 | (1,714) |
Dividends paid | (320) | (232) | (346) |
Profit/(loss) for the year | 336 | 257 | 288 |
Change in translation differences | (772) | 1,099 | (1,603) |
Other movements | (7) | (12) | 4 |
Ending balance | 5,018 | 5,756 | 4,644 |
Telefónica Deutschland Holding, A.G. | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | 4,150 | 4,638 | 5,178 |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 |
Acquisitions of non-controlling interests and exclusion of companies | (671) | 0 | (116) |
Dividends paid | (229) | (263) | (268) |
Profit/(loss) for the year | (140) | (217) | (159) |
Change in translation differences | 0 | 0 | 0 |
Other movements | 4 | (8) | 3 |
Ending balance | 3,114 | 4,150 | 4,638 |
Colombia Telecomunicaciones, S.A., ESP | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | (88) | (30) | (50) |
Sales of non-controlling interests and inclusion of companies | 605 | 0 | 17 |
Acquisitions of non-controlling interests and exclusion of companies | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 |
Profit/(loss) for the year | 26 | (32) | (8) |
Change in translation differences | (4) | (7) | 8 |
Other movements | (16) | (19) | 3 |
Ending balance | 523 | (88) | (30) |
Telefónica Centroamericana Inversiones, S.L. | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | 354 | 354 | 326 |
Sales of non-controlling interests and inclusion of companies | 0 | 0 | 0 |
Acquisitions of non-controlling interests and exclusion of companies | 0 | 0 | 0 |
Dividends paid | (22) | (28) | (25) |
Profit/(loss) for the year | 18 | 19 | 18 |
Change in translation differences | (43) | 8 | 34 |
Other movements | 0 | 1 | 1 |
Ending balance | 307 | 354 | 354 |
Telxius Telecom, S.A. | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | 0 | ||
Sales of non-controlling interests and inclusion of companies | 690 | ||
Acquisitions of non-controlling interests and exclusion of companies | 0 | ||
Dividends paid | 0 | ||
Profit/(loss) for the year | 7 | ||
Change in translation differences | (3) | ||
Other movements | 0 | ||
Ending balance | 694 | 0 | |
Other | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | 56 | 59 | 76 |
Sales of non-controlling interests and inclusion of companies | 0 | 1 | (8) |
Acquisitions of non-controlling interests and exclusion of companies | 0 | (8) | 0 |
Dividends paid | (12) | (1) | (2) |
Profit/(loss) for the year | (1) | 3 | (4) |
Change in translation differences | (2) | 3 | 0 |
Other movements | 1 | (1) | (3) |
Ending balance | 42 | 56 | 59 |
Telefonica, S.A. | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | 10,228 | 9,665 | 9,186 |
Sales of non-controlling interests and inclusion of companies | 1,320 | 1 | 4,368 |
Acquisitions of non-controlling interests and exclusion of companies | (671) | (8) | (1,830) |
Dividends paid | (583) | (524) | (641) |
Profit/(loss) for the year | 246 | 30 | 135 |
Change in translation differences | (824) | 1,103 | (1,561) |
Other movements | (18) | (39) | 8 |
Ending balance | € 9,698 | € 10,228 | € 9,665 |
Equity - Cash Flow Disclosures
Equity - Cash Flow Disclosures (Details) - EUR (€) € in Millions | Jul. 31, 2017 | Jun. 30, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Entity Information [Line Items] | |||||
Net cash flow provided by operating activities | € 13,796 | € 13,338 | € 13,615 | ||
Net cash flow used in investing activities | (10,245) | (8,208) | (12,917) | ||
Net cash flow used in financing activities | (1,752) | (4,220) | (3,612) | ||
Increase (decrease) in cash and cash equivalents | 1,456 | € 1,121 | € (3,914) | ||
Proceeds from sales of interests in associates | € 1,275 | ||||
Percent of total shares classified as treasury shares | 1.26514% | 2.80339% | 2.8469% | ||
Telefónica Brazil | |||||
Entity Information [Line Items] | |||||
Net cash flow provided by operating activities | € 3,710 | € 3,123 | € 2,893 | ||
Net cash flow used in investing activities | (2,285) | (2,039) | (4,111) | ||
Net cash flow used in financing activities | (1,653) | (1,218) | 1,530 | ||
Increase (decrease) in cash and cash equivalents | (228) | (134) | 312 | ||
Telefónica Germany | |||||
Entity Information [Line Items] | |||||
Net cash flow provided by operating activities | 1,942 | 2,154 | 2,081 | ||
Net cash flow used in investing activities | (1,223) | (1,252) | (2,180) | ||
Net cash flow used in financing activities | (706) | (1,323) | (1,023) | ||
Increase (decrease) in cash and cash equivalents | € 13 | € (421) | € (1,122) | ||
Acquisitions (shares) | 178,500,000 | ||||
Percentage of share capital acquired | 6.00% | ||||
Telxius Telecom, S.A. | |||||
Entity Information [Line Items] | |||||
Percentage of share capital sold | 40.00% | ||||
Treasury shares | |||||
Entity Information [Line Items] | |||||
Increase (decrease) in number of shares outstanding | 3,187,055 | 72,022,480 | 74,627,988 | 74,076,263 | |
Acquisitions (shares) | 0 | 77,087,297 | 138,036,450 | ||
Treasury shares | Telefónica Germany | |||||
Entity Information [Line Items] | |||||
Increase (decrease) in number of shares outstanding | 2,724,699 | 72,000,000 | |||
Percent of total shares classified as treasury shares | 1.43% |
Financial Assets and Liabili116
Financial Assets and Liabilities - Narrative (Details) - EUR (€) € in Millions | Jul. 10, 2016 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jul. 24, 2017 |
Disclosure of financial assets [line items] | ||||||
Proceeds from sales of investment | € 1,275 | |||||
Other long-term credits | 995 | € 1,033 | ||||
Current financial assets | 2,154 | 2,954 | ||||
Fair value of current financial liabilities | 845 | |||||
Fair value of non-current liabilities | 2,812 | |||||
Pending Payment amount from undiscounted cash flows of loans and other payables | 153 | 210 | ||||
Deferred payments made from loans and other payables pending | 717 | 1,758 | € 5 | |||
Derivative fair value | 505 | |||||
Increase (decrease) in credit derivative, fair value | (2,896) | |||||
Notes and debentures issued | 39,581 | 40,055 | ||||
Commercial papers issued | 1,850 | 2,630 | ||||
Borrowings | 47,375 | |||||
Available financing capacity | 13,531 | € 14,627 | ||||
Non-current available financing capacity | € 12,541 | |||||
Weighted average | ||||||
Disclosure of financial assets [line items] | ||||||
Annual Fix | 2.01% | 3.84% | ||||
Exchangeable bond | ||||||
Disclosure of financial assets [line items] | ||||||
Notional amount | € 750 | |||||
Commercial paper | ||||||
Disclosure of financial assets [line items] | ||||||
Notional amount | € 5,000 | |||||
Commercial paper | Weighted average | ||||||
Disclosure of financial assets [line items] | ||||||
Annual Fix | (0.17%) | (0.01%) | ||||
Corporate promissory note | ||||||
Disclosure of financial assets [line items] | ||||||
Notional amount | € 500 | |||||
Additional borrowing capacity | 2,000 | |||||
Borrowings | € 204 | € 370 | ||||
Brazil, Panama, Ecuador and Guatemala | ||||||
Disclosure of financial assets [line items] | ||||||
Proportion of gross debt (as a percent) | 3.00% | |||||
2,018 | ||||||
Disclosure of financial assets [line items] | ||||||
Interest payable | € 1,715 | |||||
Notes and debentures issued | 4,664 | |||||
2,019 | ||||||
Disclosure of financial assets [line items] | ||||||
Interest payable | 1,525 | |||||
Notes and debentures issued | 3,602 | |||||
2,020 | ||||||
Disclosure of financial assets [line items] | ||||||
Interest payable | 1,323 | |||||
Notes and debentures issued | 5,126 | |||||
2,021 | ||||||
Disclosure of financial assets [line items] | ||||||
Interest payable | 1,068 | |||||
Notes and debentures issued | 4,826 | |||||
2,022 | ||||||
Disclosure of financial assets [line items] | ||||||
Interest payable | 914 | |||||
Notes and debentures issued | 4,933 | |||||
Years after 2022 | ||||||
Disclosure of financial assets [line items] | ||||||
Interest payable | 7,037 | |||||
Notes and debentures issued | 16,430 | |||||
Collateral guarantees on derivatives | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 902 | |||||
Derivative instruments | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 845 | 1,872 | ||||
Short-term investments | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 130 | 304 | ||||
Deposits and guarantees | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 125 | 450 | ||||
Deposits | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 82 | 88 | ||||
Impairment losses | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 877 | 205 | ||||
Bank deposits | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 700 | |||||
Seguos de Vida y Pensiones Antares | ||||||
Disclosure of financial assets [line items] | ||||||
Other long-term credits | € 692 | € 749 | ||||
Mediaset Premium | ||||||
Disclosure of financial assets [line items] | ||||||
Percentage of ownership interest in associate sold | 11.10% | |||||
Profit (loss) on disposal of investments and changes in value of investments | € (76) | |||||
China Unicom | ||||||
Disclosure of financial assets [line items] | ||||||
Percentage of ownership interest in associate sold | 1.51% | 0.24% | ||||
Profit (loss) on disposal of investments and changes in value of investments | € (155) | |||||
Share capital sold | € 72 | |||||
Negative impact in net financial expense | € 4 | |||||
Proceeds from sales of investment | € 322 | |||||
Percentage of ownership interest in associate | 0.59% | 1.00% | ||||
Investments in associates | € 205 | € 263 | ||||
Banco Bilbao Vizcaya Argentaria (BBVA) | ||||||
Disclosure of financial assets [line items] | ||||||
Percentage of ownership interest in associate | 0.66% | 0.67% | ||||
Investments in associates | € 314 | € 283 | ||||
Banco Bilbao Vizcaya Argentaria (BBVA) | Collateral guarantees on derivatives | ||||||
Disclosure of financial assets [line items] | ||||||
Current financial assets | 286 | 240 | ||||
Telefónica Germany | ||||||
Disclosure of financial assets [line items] | ||||||
Long-term financial assets | 58 | 8 | ||||
Telefonica Brasil S.A. | ||||||
Disclosure of financial assets [line items] | ||||||
Long-term deposits | € 1,598 | € 1,761 |
Financial Assets and Liabili117
Financial Assets and Liabilities - Movement in Non-current Financial Assets (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | € 9,765 | € 10,405 |
Acquisitions | 2,089 | 1,297 |
Disposals | (646) | (1,391) |
Translation differences | (406) | 329 |
Fair value adjustments and financial updates | (1,163) | 129 |
Transfers and other | (1,472) | (1,004) |
Non-current financial assets, ending balance | 8,167 | 9,765 |
Investments | ||
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | 825 | 1,289 |
Acquisitions | 16 | 73 |
Disposals | (155) | (446) |
Translation differences | (7) | 8 |
Fair value adjustments and financial updates | 5 | (103) |
Transfers and other | (34) | 4 |
Non-current financial assets, ending balance | 650 | 825 |
Long-term credits | ||
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | 1,770 | 2,512 |
Acquisitions | 960 | 952 |
Disposals | (232) | (955) |
Translation differences | (81) | (37) |
Fair value adjustments and financial updates | (1) | (21) |
Transfers and other | (594) | (681) |
Non-current financial assets, ending balance | 1,822 | 1,770 |
Deposits and guarantees | ||
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | 1,938 | 1,425 |
Acquisitions | 955 | 169 |
Disposals | (156) | (102) |
Translation differences | (258) | 337 |
Fair value adjustments and financial updates | 84 | 102 |
Transfers and other | 62 | 7 |
Non-current financial assets, ending balance | 2,625 | 1,938 |
Derivative instruments | ||
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | 5,048 | 5,315 |
Acquisitions | 0 | 73 |
Disposals | (120) | (270) |
Translation differences | (57) | (15) |
Fair value adjustments and financial updates | (1,251) | 151 |
Transfers and other | (808) | (206) |
Non-current financial assets, ending balance | 2,812 | 5,048 |
Impairment losses | ||
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | (154) | (507) |
Acquisitions | (12) | (13) |
Disposals | 41 | 402 |
Translation differences | 16 | 30 |
Fair value adjustments and financial updates | 0 | 0 |
Transfers and other | (29) | (66) |
Non-current financial assets, ending balance | (138) | (154) |
Non-current prepayments | ||
Disclosure of financial assets [line items] | ||
Non-current financial assets, beginning balance | 338 | 371 |
Acquisitions | 170 | 43 |
Disposals | (24) | (20) |
Translation differences | (19) | 6 |
Fair value adjustments and financial updates | 0 | 0 |
Transfers and other | (69) | (62) |
Non-current financial assets, ending balance | € 396 | € 338 |
Financial Assets and Liabili118
Financial Assets and Liabilities - Long-term Credits (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Financial Instruments [Abstract] | ||
Long-term trade receivables | € 638 | € 593 |
Long-term receivables for indirect taxes | 189 | 144 |
Other long-term credits | 995 | 1,033 |
Total | € 1,822 | € 1,770 |
Financial Assets and Liabili119
Financial Assets and Liabilities - Breakdown of Financial Assets (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of financial assets [line items] | |||
Non-current financial assets | € 8,167 | € 9,765 | € 10,405 |
Current financial assets | 2,154 | 2,954 | |
Investments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 650 | 825 | 1,289 |
Long-term credits | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,822 | 1,770 | 2,512 |
Deposits and guarantees | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,625 | 1,938 | 1,425 |
Current financial assets | 125 | 450 | |
Derivative instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,812 | 5,048 | 5,315 |
Current financial assets | 845 | 1,872 | |
Impairment losses | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (138) | (154) | € (507) |
Current financial assets | 877 | 205 | |
Telefonica, S.A. | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 7,771 | 9,427 | |
Current financial assets | 7,346 | 6,690 | |
Total | 15,117 | 16,117 | |
Non-current financial assets, fair value | 7,771 | 9,427 | |
Current financial assets, fair value | 7,346 | 6,690 | |
Financial assets, fair value | 15,117 | 16,117 | |
Telefonica, S.A. | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 822 | 864 | |
Current financial assets | 105 | 483 | |
Total | 927 | 1,347 | |
Telefonica, S.A. | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 3,339 | 5,766 | |
Current financial assets | 915 | 1,806 | |
Total | 4,254 | 7,572 | |
Telefonica, S.A. | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 18 | 21 | |
Current financial assets | 0 | 0 | |
Total | 18 | 21 | |
Telefonica, S.A. | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,074 | 1,716 | |
Current financial assets | 163 | 883 | |
Total | 1,237 | 2,599 | |
Telefonica, S.A. | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 250 | 270 | |
Current financial assets | 60 | 118 | |
Total | 310 | 388 | |
Telefonica, S.A. | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,117 | 1,333 | |
Current financial assets | 66 | 115 | |
Total | 1,183 | 1,448 | |
Telefonica, S.A. | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,738 | 3,332 | |
Current financial assets | 731 | 1,173 | |
Total | 2,469 | 4,505 | |
Telefonica, S.A. | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 169 | 39 | |
Total | 169 | 39 | |
Telefonica, S.A. | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 3,592 | 2,776 | |
Current financial assets | 6,157 | 4,362 | |
Total | 9,749 | 7,138 | |
Telefonica, S.A. | Investments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 650 | 825 | |
Current financial assets | 2,154 | 2,954 | |
Non-current financial assets, fair value | 650 | 825 | |
Current financial assets, fair value | 2,154 | 2,954 | |
Telefonica, S.A. | Investments | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 567 | 620 | |
Current financial assets | 105 | 483 | |
Telefonica, S.A. | Investments | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 83 | 205 | |
Current financial assets | 915 | 1,806 | |
Telefonica, S.A. | Investments | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Investments | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 163 | 883 | |
Telefonica, S.A. | Investments | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 60 | 118 | |
Telefonica, S.A. | Investments | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 650 | 825 | |
Current financial assets | 66 | 115 | |
Telefonica, S.A. | Investments | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 731 | 1,173 | |
Telefonica, S.A. | Investments | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 169 | 39 | |
Telefonica, S.A. | Investments | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Current financial assets | 965 | 626 | |
Telefonica, S.A. | Long-term credits | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,822 | 1,770 | |
Non-current financial assets, fair value | 1,684 | 1,616 | |
Telefonica, S.A. | Long-term credits | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 86 | 76 | |
Telefonica, S.A. | Long-term credits | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 613 | 681 | |
Telefonica, S.A. | Long-term credits | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 18 | 21 | |
Telefonica, S.A. | Long-term credits | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Long-term credits | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 250 | 270 | |
Telefonica, S.A. | Long-term credits | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 467 | 508 | |
Telefonica, S.A. | Long-term credits | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Long-term credits | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Long-term credits | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,105 | 992 | |
Telefonica, S.A. | Deposits and guarantees | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,625 | 1,938 | |
Non-current financial assets, fair value | 2,625 | 1,938 | |
Telefonica, S.A. | Deposits and guarantees | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Deposits and guarantees | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,625 | 1,938 | |
Telefonica, S.A. | Derivative instruments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,812 | 5,048 | |
Non-current financial assets, fair value | 2,812 | 5,048 | |
Telefonica, S.A. | Derivative instruments | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 169 | 168 | |
Telefonica, S.A. | Derivative instruments | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 2,643 | 4,880 | |
Telefonica, S.A. | Derivative instruments | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,074 | 1,716 | |
Telefonica, S.A. | Derivative instruments | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 1,738 | 3,332 | |
Telefonica, S.A. | Derivative instruments | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (138) | (154) | |
Non-current financial assets, fair value | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Hedges | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | 0 | 0 | |
Telefonica, S.A. | Impairment losses | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Non-current financial assets | (138) | (154) | |
Telefonica, S.A. | Cash and cash equivalents | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 5,192 | 3,736 | |
Current financial assets, fair value | 5,192 | 3,736 | |
Telefonica, S.A. | Cash and cash equivalents | Level 1 (Quoted prices) | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Fair value through profit or loss, Held for trading | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Fair value through profit or loss, Fair value option | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Available- for-sale | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Hedges | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Held-to-maturity invest-ments | |||
Disclosure of financial assets [line items] | |||
Current financial assets | 0 | 0 | |
Telefonica, S.A. | Cash and cash equivalents | Rest of financial assets at amortized cost | |||
Disclosure of financial assets [line items] | |||
Current financial assets | € 5,192 | € 3,736 |
Financial Assets and Liabili120
Financial Assets and Liabilities - Maturity Analysis of Financial Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Total Issues | € 47,375 | |
Loans and other payables | 8,900 | € 11,398 |
Total | 52,089 | 53,440 |
Telefonica, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 41,288 | |
Promissory notes & commercial paper | 2,406 | |
Total Issues | 43,694 | |
Loans and other payables | 8,900 | |
Derivative instruments (Note 16) | 3,152 | |
Total | 55,746 | € 60,361 |
Telefonica, S.A. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 5,313 | |
Promissory notes & commercial paper | 2,107 | |
Total Issues | 7,420 | |
Loans and other payables | 1,714 | |
Derivative instruments (Note 16) | 280 | |
Total | 9,414 | |
Telefonica, S.A. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,599 | |
Promissory notes & commercial paper | 0 | |
Total Issues | 3,599 | |
Loans and other payables | 2,250 | |
Derivative instruments (Note 16) | 214 | |
Total | 6,063 | |
Telefonica, S.A. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 5,108 | |
Promissory notes & commercial paper | 112 | |
Total Issues | 5,220 | |
Loans and other payables | 819 | |
Derivative instruments (Note 16) | 824 | |
Total | 6,863 | |
Telefonica, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,760 | |
Promissory notes & commercial paper | 0 | |
Total Issues | 4,760 | |
Loans and other payables | 918 | |
Derivative instruments (Note 16) | 453 | |
Total | 6,131 | |
Telefonica, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,903 | |
Promissory notes & commercial paper | 0 | |
Total Issues | 4,903 | |
Loans and other payables | 531 | |
Derivative instruments (Note 16) | 185 | |
Total | 5,619 | |
Telefonica, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 17,605 | |
Promissory notes & commercial paper | 187 | |
Total Issues | 17,792 | |
Loans and other payables | 2,668 | |
Derivative instruments (Note 16) | 1,196 | |
Total | 21,656 | |
Telefonica, S.A. | Non-current | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 35,975 | |
Promissory notes & commercial paper | 299 | |
Total Issues | 36,274 | |
Loans and other payables | 7,186 | |
Derivative instruments (Note 16) | 2,872 | |
Total | € 46,332 |
Financial Assets and Liabili121
Financial Assets and Liabilities - Breakdown of Financial Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of financial liabilities [line items] | |||
Total carrying amount | € 52,089 | € 53,440 | |
Issues | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 43,694 | 45,444 | € 45,372 |
Telefonica, S.A. | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 55,746 | 60,361 | |
Total fair value | 59,328 | 63,603 | |
Telefonica, S.A. | Level 1 (Quoted prices) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 80 | 64 | |
Telefonica, S.A. | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 3,072 | 3,455 | |
Telefonica, S.A. | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Fair value through profit or loss, Held for trading | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 1,180 | 2,299 | |
Telefonica, S.A. | Fair value through profit or loss, Fair value option | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Hedges | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 1,972 | 1,220 | |
Telefonica, S.A. | Liabilities at amortized cost | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 52,594 | 56,842 | |
Telefonica, S.A. | Issues | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 43,694 | 45,444 | |
Total fair value | 47,166 | 48,686 | |
Telefonica, S.A. | Issues | Level 1 (Quoted prices) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Issues | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Issues | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Issues | Fair value through profit or loss, Held for trading | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Issues | Fair value through profit or loss, Fair value option | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Issues | Hedges | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Issues | Liabilities at amortized cost | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 43,694 | 45,444 | |
Telefonica, S.A. | Loans and other payables | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 8,900 | 11,398 | |
Total fair value | 9,010 | 11,398 | |
Telefonica, S.A. | Loans and other payables | Level 1 (Quoted prices) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Loans and other payables | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Loans and other payables | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Loans and other payables | Fair value through profit or loss, Held for trading | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Loans and other payables | Fair value through profit or loss, Fair value option | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Loans and other payables | Hedges | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Loans and other payables | Liabilities at amortized cost | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 8,900 | 11,398 | |
Telefonica, S.A. | Derivative instruments | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 3,152 | 3,519 | |
Total fair value | 3,152 | 3,519 | |
Telefonica, S.A. | Derivative instruments | Level 1 (Quoted prices) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 80 | 64 | |
Telefonica, S.A. | Derivative instruments | Level 2 (Other directly observable market inputs) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 3,072 | 3,455 | |
Telefonica, S.A. | Derivative instruments | Level 3 (Inputs not based on observable market data) | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Fair value through profit or loss, Held for trading | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 1,180 | 2,299 | |
Telefonica, S.A. | Derivative instruments | Fair value through profit or loss, Fair value option | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 0 | 0 | |
Telefonica, S.A. | Derivative instruments | Hedges | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | 1,972 | 1,220 | |
Telefonica, S.A. | Derivative instruments | Liabilities at amortized cost | |||
Disclosure of financial liabilities [line items] | |||
Total carrying amount | € 0 | € 0 |
Financial Assets and Liabili122
Financial Assets and Liabilities - Schedule of Change in Financial Liabilities (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of offsetting of financial liabilities [line items] | |
Financial liabilities, beginning balance | € 53,440 |
Acquisitions | 12,659 |
Disposals | (13,540) |
Translation differences | (2,796) |
Fair value adjustment and financial updates | 2,763 |
Others movements | (437) |
Financial liabilities, ending balance | 52,089 |
Issues | |
Disclosure of offsetting of financial liabilities [line items] | |
Financial liabilities, beginning balance | 42,084 |
Acquisitions | 8,390 |
Disposals | (6,687) |
Translation differences | (2,178) |
Fair value adjustment and financial updates | (296) |
Others movements | (25) |
Financial liabilities, ending balance | 41,288 |
Promissory notes and commercial paper | |
Disclosure of offsetting of financial liabilities [line items] | |
Financial liabilities, beginning balance | 3,360 |
Acquisitions | 60 |
Disposals | (1,008) |
Translation differences | (6) |
Fair value adjustment and financial updates | 0 |
Others movements | 0 |
Financial liabilities, ending balance | 2,406 |
Loans and other payables | |
Disclosure of offsetting of financial liabilities [line items] | |
Financial liabilities, beginning balance | 11,397 |
Acquisitions | 4,209 |
Disposals | (6,241) |
Translation differences | (699) |
Fair value adjustment and financial updates | (16) |
Others movements | 250 |
Financial liabilities, ending balance | 8,900 |
Derivative instruments | |
Disclosure of offsetting of financial liabilities [line items] | |
Financial liabilities, beginning balance | (3,401) |
Acquisitions | 0 |
Disposals | 396 |
Translation differences | 87 |
Fair value adjustment and financial updates | 3,075 |
Others movements | (662) |
Financial liabilities, ending balance | € (505) |
Financial Assets and Liabili123
Financial Assets and Liabilities - Movement in Financial Liabilities (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial liabilities [line items] | ||
Financial liabilities, beginning balance | € 53,440 | |
Financial liabilities, ending balance | 52,089 | € 53,440 |
Debenture and bond issues | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities, beginning balance | 42,084 | 43,557 |
New issues | 8,390 | 5,693 |
Redemptions, conversions and exchanges | (6,687) | (6,873) |
Revaluation and other movements | (2,499) | (293) |
Financial liabilities, ending balance | 41,288 | 42,084 |
Promissory notes and commercial paper | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities, beginning balance | 3,360 | 1,815 |
New issues | 60 | 1,566 |
Redemptions, conversions and exchanges | (1,008) | (25) |
Revaluation and other movements | (6) | 4 |
Financial liabilities, ending balance | 2,406 | 3,360 |
Issues | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities, beginning balance | 45,444 | 45,372 |
New issues | 8,450 | 7,259 |
Redemptions, conversions and exchanges | (7,695) | (6,898) |
Revaluation and other movements | (2,505) | (289) |
Financial liabilities, ending balance | € 43,694 | € 45,444 |
Financial Assets and Liabili124
Financial Assets and Liabilities - Interest-Bearing Debt (Details) - EUR (€) € in Millions | 12 Months Ended | |||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 29, 2017 | Dec. 19, 2017 | Mar. 30, 2017 | Feb. 17, 2017 | Jan. 17, 2017 | |
Disclosure of detailed information about borrowings [line items] | ||||||||
Outstanding balance | € 47,375 | |||||||
Drawndown | 4,844 | € 10,332 | € 8,784 | |||||
Repayments of loans, borrowings and promissory notes | (6,711) | (8,506) | (9,858) | |||||
Syndicated facility due February 19, 2022 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 2,500 | |||||||
Outstanding balance | 0 | |||||||
Drawndown | 0 | 0 | 2,060 | |||||
Repayments of loans, borrowings and promissory notes | (550) | € 0 | € (1,560) | |||||
Syndicated facility due March 30, 2017 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 0 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Early cancellation of debt | € 1,500 | |||||||
Structured financing due March 11, 2026 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 679 | |||||||
Outstanding balance | 566 | |||||||
Drawndown | 329 | |||||||
Repayments of loans, borrowings and promissory notes | (48) | |||||||
Structured euro financing due March 11, 2026 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 469 | |||||||
Outstanding balance | 423 | |||||||
Drawndown | 217 | |||||||
Repayments of loans, borrowings and promissory notes | (34) | |||||||
Structured financing due December 15, 2017 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 0 | |||||||
Drawndown | ||||||||
Repayments of loans, borrowings and promissory notes | (185) | |||||||
Bilateral loan due February 23, 2017 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 0 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | (100) | |||||||
Bilateral loan due May 16, 2017 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 0 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | (100) | |||||||
Bilateral loan due June 26, 2019 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 1,500 | € 1,500 | ||||||
Outstanding balance | 1,500 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Bilateral loan due December 19, 2017 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | ||||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | (200) | |||||||
Early repayment of debt | € 200 | |||||||
Bilateral loan due March 19, 2019 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 150 | |||||||
Outstanding balance | 150 | |||||||
Drawndown | 0 | |||||||
Repayments of loans, borrowings and promissory notes | (150) | |||||||
Early repayment of debt | € 150 | |||||||
Credit facility due December 27, 2020 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 380 | |||||||
Outstanding balance | 292 | |||||||
Drawndown | 292 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Credit facility due March 14, 2020 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 200 | |||||||
Outstanding balance | 167 | |||||||
Drawndown | 167 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Syndicated facility due March 22, 2022 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 750 | € 750 | ||||||
Outstanding balance | 0 | |||||||
Drawndown | 650 | |||||||
Repayments of loans, borrowings and promissory notes | (700) | |||||||
EIB financing due June 13, 2025 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 0 | |||||||
Outstanding balance | 450 | |||||||
Drawndown | 200 | |||||||
Repayments of loans, borrowings and promissory notes | 0 | |||||||
Structured financing due November 28, 2024 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 750 | |||||||
Outstanding balance | 750 | |||||||
Drawndown | 750 | |||||||
Repayments of loans, borrowings and promissory notes | € 0 | |||||||
Tranche A | Bilateral loan due June 26, 2019 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | 500 | |||||||
Tranche B | Bilateral loan due June 26, 2019 | ||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||
Contractual limit amount | € 1,000 |
Financial Assets and Liabili125
Financial Assets and Liabilities - Loans by Currency (Details) € in Millions, £ in Millions, PEN in Millions, COP in Millions, BRL in Millions, $ in Millions | Dec. 31, 2017EUR (€) | Dec. 31, 2017COP | Dec. 31, 2017PEN | Dec. 31, 2017BRL | Dec. 31, 2017GBP (£) | Dec. 31, 2017USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2016COP | Dec. 31, 2016PEN | Dec. 31, 2016BRL | Dec. 31, 2016GBP (£) | Dec. 31, 2016USD ($) |
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | € 8,900 | € 11,398 | ||||||||||
Euro | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 4,682 | 5,174 | ||||||||||
US dollar | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 2,448 | $ 2,936 | 2,668 | $ 2,812 | ||||||||
Brazilian real | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 993 | BRL 3,939 | 1,381 | BRL 4,744 | ||||||||
Colombian Peso | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 391 | COP 1,398,550 | 1,731 | COP 5,473,409 | ||||||||
Pound sterling | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 120 | £ 106 | 127 | £ 109 | ||||||||
Peruvian nuevo sol | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | 119 | PEN 462 | 149 | PEN 527 | ||||||||
Other currencies | ||||||||||||
Disclosure of detailed information about borrowings [line items] | ||||||||||||
Loans and other payables | € 147 | € 168 |
Trade and Other Payables - Comp
Trade and Other Payables - Composition of Trade and Other Payables (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Non-current | ||
Trade payables | € 86 | € 80 |
Payables to suppliers of property, plant and equipment | 5 | 9 |
Other payables | 253 | 325 |
Deferred revenue | 774 | 903 |
Payable to associates and joint ventures (Note 9) | 0 | 0 |
Total | 1,687 | 1,925 |
Current | ||
Trade payables | 7,943 | 8,043 |
Payables to suppliers of property, plant and equipment | 3,580 | 3,816 |
Other payables | 1,522 | 1,721 |
Deferred revenue | 1,387 | 1,569 |
Payable to associates and joint ventures (Note 9) | 491 | 497 |
Total | 15,095 | 16,150 |
Spectrum | Licenses | ||
Non-current | ||
Debt for spectrum acquisition | 569 | 608 |
Current | ||
Debt for spectrum acquisition | € 172 | € 504 |
Trade and Other Payables - Deta
Trade and Other Payables - Detail of Current Other Payables (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Dividends pending payment to non-controlling interests | € 235 | € 257 |
Accrued employee benefits | 696 | 774 |
Advances received on orders | 172 | 189 |
Other non-financial non-trade payables | 419 | 501 |
Total | € 1,522 | € 1,721 |
Trade and Other Payables - Narr
Trade and Other Payables - Narrative (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Trade And Other Payables [Line Items] | |||
Grants | € 87 | € 110 | |
Borrowings | 47,375 | ||
Pending payments of other current non-financial non-trade payables | € 145 | ||
Maximum payment period to suppliers | 60 days | ||
Licenses | |||
Trade And Other Payables [Line Items] | |||
Payment on borrowings | € 329 | 198 | |
Spectrum | Licenses | |||
Trade And Other Payables [Line Items] | |||
Short-term payables | 172 | 504 | |
Fundación Telefónica | |||
Trade And Other Payables [Line Items] | |||
Outstanding commitments made by entity, related party transactions | € 325 | ||
Telefónica México | Spectrum | Licenses | |||
Trade And Other Payables [Line Items] | |||
Borrowings | 598 | 654 | |
Short-term payables | 72 | 73 | |
Telefónica Brazil | Spectrum | Licenses | |||
Trade And Other Payables [Line Items] | |||
Borrowings | 65 | 288 | |
Short-term payables | € 36 | € 261 |
Trade and Other Payables - Info
Trade and Other Payables - Information on Average Payment Period to Suppliers (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Entity Information [Line Items] | |||
Weighted average maturity period | 53 days | 45 days | |
Total payments | € 40,508 | € 40,831 | € 43,650 |
Telefonica, S.A. | |||
Entity Information [Line Items] | |||
Weighted average maturity period | 53 days | 45 days | |
Ratio of payments | 54 days | 45 days | |
Ratio of outstanding invoices | 41 days | 42 days | |
Total payments | € 6,703 | € 6,727 | |
Outstanding invoices | € 847 | € 651 |
Provisions - Amounts of Provisi
Provisions - Amounts of Provisions (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Current | |||
Employee benefits | € 912 | € 1,002 | |
Termination plans | 515 | 709 | |
Post-employment defined benefit plans | 9 | 3 | |
Other benefits | 388 | 290 | |
Other provisions | 1,304 | 1,218 | |
Total | 2,216 | 2,220 | |
Non-current | |||
Employee benefits | 5,666 | 6,147 | |
Termination plans | 1,282 | 1,685 | |
Post-employment defined benefit plans | 1,030 | 935 | |
Other benefits | 3,354 | 3,527 | |
Other provisions | 3,552 | 3,726 | |
Total | 9,218 | 9,873 | |
Total | |||
Employee benefits | 6,578 | 7,149 | |
Termination plans | 1,797 | 2,394 | € 2,583 |
Post-employment defined benefit plans | 1,039 | 938 | |
Other benefits | 3,742 | 3,817 | |
Other provisions | 4,856 | 4,944 | |
Total | 11,434 | 12,093 | |
Restructuring provision | |||
Total | |||
Total | 340 | 1,380 | |
Restructuring provision | Individual Suspension Plan | |||
Total | |||
Total | € 165 | € 837 |
Provisions - Termination Plans
Provisions - Termination Plans (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Benefits [Abstract] | ||
Provision for post-employment plans | € 2,394 | € 2,583 |
Additions | 179 | 571 |
Retirements/amount applied | (759) | (822) |
Transfers | (8) | 35 |
Translation differences and accretion | (9) | 27 |
Provision for post-employment plans | € 1,797 | € 2,394 |
Provisions - Telefonica Spain,
Provisions - Telefonica Spain, Germany, and S.A. Restructuring (Details) € in Millions | 12 Months Ended | ||
Dec. 31, 2017EUR (€)yearemployee | Dec. 31, 2016EUR (€) | Dec. 31, 2014EUR (€) | |
Disclosure of other provisions [line items] | |||
Addition to termination plans provision | € 179 | € 571 | |
Restructuring provision | Telefónica Spain | |||
Disclosure of other provisions [line items] | |||
Discount rate | 0.53% | ||
Average duration of plans | year | 2.1 | ||
Restructuring provision | Telefónica Germany | |||
Disclosure of other provisions [line items] | |||
Restructuring provision | € 65 | 100 | € 321 |
Addition to termination plans provision | € 44 | 46 | |
2003-2007 Labor Force Reduction Plan | Restructuring provision | Telefónica Spain | |||
Disclosure of other provisions [line items] | |||
Number of employees participating in labor force reduction plan | employee | 13,870 | ||
Restructuring provision | € 83 | 152 | |
Current restructuring provision | € 37 | ||
2011-2013 Labor Force Reduction Plan | Restructuring provision | Telefónica Spain | |||
Disclosure of other provisions [line items] | |||
Number of employees participating in labor force reduction plan | employee | 6,830 | ||
Restructuring provision | € 1,061 | 1,353 | |
Current restructuring provision | 301 | ||
Voluntary Termination Plan | Restructuring provision | |||
Disclosure of other provisions [line items] | |||
Restructuring provision | € 159 | € 184 |
Provisions - Post-Employment De
Provisions - Post-Employment Defined Benefit Plans by Country of Operation (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | € 3 | € 3 | |
Net provision | 1,039 | 938 | |
Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 804 | 598 | |
Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 3,383 | 3,378 | € 2,858 |
Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | (2,579) | (2,780) | (2,522) |
Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 232 | 337 | |
Others | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Net provision | 7 | 8 | |
Others | Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 7 | 8 | |
Others | Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 16 | 16 | 15 |
Others | Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | (9) | (8) | (10) |
Others | Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Spain | Operating segments | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Net provision | 490 | 533 | |
Spain | Operating segments | Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 490 | 533 | |
Spain | Operating segments | Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 490 | 533 | 552 |
Spain | Operating segments | Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Spain | Operating segments | Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
United Kingdom | Operating segments | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Net provision | 177 | 172 | |
United Kingdom | Operating segments | Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 177 | 172 | |
United Kingdom | Operating segments | Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 1,828 | 1,834 | 1,613 |
United Kingdom | Operating segments | Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | (1,651) | (1,662) | (1,753) |
United Kingdom | Operating segments | Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Germany | Operating segments | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Net provision | 151 | 105 | |
Germany | Operating segments | Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 151 | 105 | |
Germany | Operating segments | Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 235 | 233 | 198 |
Germany | Operating segments | Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | (84) | (128) | (122) |
Germany | Operating segments | Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Brazil | Operating segments | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 3 | 3 | |
Net provision | 134 | 95 | |
Brazil | Operating segments | Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | (101) | (245) | |
Brazil | Operating segments | Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 734 | 737 | 449 |
Brazil | Operating segments | Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | (835) | (982) | (637) |
Brazil | Operating segments | Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 232 | 337 | |
Hispanoamérica | Operating segments | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Net provision | 80 | 25 | |
Hispanoamérica | Operating segments | Net provision before asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 80 | 25 | |
Hispanoamérica | Operating segments | Obligation | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 80 | 25 | € 31 |
Hispanoamérica | Operating segments | Assets | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | 0 | 0 | |
Hispanoamérica | Operating segments | Asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liability (asset) | € 0 | € 0 |
Provisions - Movement in the Pr
Provisions - Movement in the Present Value of Obligations (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | € 3 | |
Net defined benefit liability (asset) | 3 | € 3 |
Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 3,378 | 2,858 |
Translation differences | (193) | (135) |
Current service cost | 21 | 21 |
Interest cost | 136 | 131 |
Actuarial losses and gains | 136 | 643 |
Benefits paid | (154) | (129) |
Other movements | (2) | (11) |
Inclusion of companies | 61 | |
Net defined benefit liability (asset) | 3,383 | 3,378 |
Others | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 0 | |
Net defined benefit liability (asset) | 0 | 0 |
Others | Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 16 | 15 |
Translation differences | (2) | 0 |
Current service cost | 1 | 0 |
Interest cost | 1 | 1 |
Actuarial losses and gains | 0 | 0 |
Benefits paid | (1) | 0 |
Other movements | 1 | 0 |
Inclusion of companies | 0 | |
Net defined benefit liability (asset) | 16 | 16 |
Spain | Operating segments | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 0 | |
Net defined benefit liability (asset) | 0 | 0 |
Spain | Operating segments | Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 533 | 552 |
Translation differences | 0 | 0 |
Current service cost | 6 | 7 |
Interest cost | 6 | 8 |
Actuarial losses and gains | (9) | 17 |
Benefits paid | (46) | (51) |
Other movements | 0 | 0 |
Inclusion of companies | 0 | |
Net defined benefit liability (asset) | 490 | 533 |
United Kingdom | Operating segments | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 0 | |
Net defined benefit liability (asset) | 0 | 0 |
United Kingdom | Operating segments | Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 1,834 | 1,613 |
Translation differences | (67) | (251) |
Current service cost | 0 | 0 |
Interest cost | 46 | 54 |
Actuarial losses and gains | 60 | 444 |
Benefits paid | (46) | (26) |
Other movements | 1 | 0 |
Inclusion of companies | 0 | |
Net defined benefit liability (asset) | 1,828 | 1,834 |
Germany | Operating segments | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 0 | |
Net defined benefit liability (asset) | 0 | 0 |
Germany | Operating segments | Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 233 | 198 |
Translation differences | 0 | 0 |
Current service cost | 9 | 6 |
Interest cost | 4 | 5 |
Actuarial losses and gains | (8) | 31 |
Benefits paid | (3) | (3) |
Other movements | 0 | (4) |
Inclusion of companies | 0 | |
Net defined benefit liability (asset) | 235 | 233 |
Brazil | Operating segments | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 3 | |
Net defined benefit liability (asset) | 3 | 3 |
Brazil | Operating segments | Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 737 | 449 |
Translation differences | (109) | 125 |
Current service cost | 3 | 1 |
Interest cost | 73 | 59 |
Actuarial losses and gains | 85 | 149 |
Benefits paid | (55) | (46) |
Other movements | 0 | 0 |
Inclusion of companies | 0 | |
Net defined benefit liability (asset) | 734 | 737 |
Hispanoamérica | Operating segments | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 0 | |
Net defined benefit liability (asset) | 0 | 0 |
Hispanoamérica | Operating segments | Present value of obligation | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Net defined benefit liability (asset) | 25 | 31 |
Translation differences | (15) | (9) |
Current service cost | 2 | 7 |
Interest cost | 6 | 4 |
Actuarial losses and gains | 8 | 2 |
Benefits paid | (3) | (3) |
Other movements | (4) | (7) |
Inclusion of companies | 61 | |
Net defined benefit liability (asset) | € 80 | € 25 |
Provisions - Movements in the F
Provisions - Movements in the Fair Value of Plan Assets (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | € (3) | |
Net defined benefit asset (liability) | (3) | € (3) |
Fair value of plan assets | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 2,780 | 2,522 |
Translation differences | (192) | (85) |
Interest income | 144 | 149 |
Actuarial losses and gains | (9) | 264 |
Company contributions | 8 | 10 |
Benefits paid | (101) | 73 |
Other movements | (51) | (7) |
Net defined benefit asset (liability) | 2,579 | 2,780 |
Others | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 0 | |
Net defined benefit asset (liability) | 0 | 0 |
Others | Fair value of plan assets | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 8 | 10 |
Translation differences | (1) | 0 |
Interest income | 1 | 1 |
Actuarial losses and gains | 0 | 0 |
Company contributions | 1 | 0 |
Benefits paid | (1) | 0 |
Other movements | 1 | (3) |
Net defined benefit asset (liability) | 9 | 8 |
United Kingdom | Operating segments | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 0 | |
Net defined benefit asset (liability) | 0 | 0 |
United Kingdom | Operating segments | Fair value of plan assets | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 1,662 | 1,753 |
Translation differences | (61) | (256) |
Interest income | 42 | 59 |
Actuarial losses and gains | 55 | 134 |
Company contributions | 0 | 0 |
Benefits paid | (46) | 26 |
Other movements | (1) | (2) |
Net defined benefit asset (liability) | 1,651 | 1,662 |
Germany | Operating segments | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 0 | |
Net defined benefit asset (liability) | 0 | 0 |
Germany | Operating segments | Fair value of plan assets | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 128 | 122 |
Translation differences | 0 | 0 |
Interest income | 2 | 3 |
Actuarial losses and gains | 0 | (2) |
Company contributions | 6 | 9 |
Benefits paid | (2) | 2 |
Other movements | (50) | (2) |
Net defined benefit asset (liability) | 84 | 128 |
Brazil | Operating segments | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | (3) | |
Net defined benefit asset (liability) | (3) | (3) |
Brazil | Operating segments | Fair value of plan assets | ||
Disclosure of fair value of plan assets [line items] | ||
Net defined benefit asset (liability) | 982 | 637 |
Translation differences | (130) | 171 |
Interest income | 99 | 86 |
Actuarial losses and gains | (64) | 132 |
Company contributions | 1 | 1 |
Benefits paid | (52) | 45 |
Other movements | (1) | 0 |
Net defined benefit asset (liability) | € 835 | € 982 |
Provisions - Principal Defined
Provisions - Principal Defined Benefit Plans (Details) € in Millions | 12 Months Ended | |
Dec. 31, 2017EUR (€)year | Dec. 31, 2016EUR (€) | |
Disclosure of defined benefit plans [line items] | ||
Provision for defined benefit plans | € 1,039 | € 938 |
Telefónica Spain | ITP | Foreign defined benefit plans | ||
Disclosure of defined benefit plans [line items] | ||
Percent of payments transferable to survivor | 60.00% | |
Provision for defined benefit plans | € 233 | 265 |
Average duration of plans | 8 | |
Telefónica Spain | Survival | Foreign defined benefit plans | ||
Disclosure of defined benefit plans [line items] | ||
Provision for defined benefit plans | € 257 | € 268 |
Average duration of plans | year | 8 |
Provisions - Main Actuarial Ass
Provisions - Main Actuarial Assumptions Used in Valuing Defined Benefit Plans (Details) - Telefónica Spain - Foreign defined benefit plans | Dec. 31, 2017 | Dec. 31, 2016 |
Survival | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 1.45% | 1.26% |
Survival | Minimum | ||
Disclosure of defined benefit plans [line items] | ||
Expected rate of salary increase | 0.00% | 0.00% |
Survival | Maximum | ||
Disclosure of defined benefit plans [line items] | ||
Expected rate of salary increase | 0.50% | 0.50% |
ITP | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 1.37% | 1.16% |
Provisions - Sensitivity of the
Provisions - Sensitivity of the Value of Termination, Post-Employment and Other Obligations (Details) - Discount rate € in Millions | Dec. 31, 2017EUR (€) |
Decrease in actuarial assumption | |
Percent of possible decrease in actuarial assumption | (1.00%) |
Impact on value | € (270) |
Impact on income statement | € (230) |
Increase in actuarial assumption | |
Percentage of possible increase in actuarial assumption | 1.00% |
Impact on value | € 248 |
Impact on income statement | € 213 |
Provisions - Main Actuarial 139
Provisions - Main Actuarial Assumptions Used in Telefónica United Kingdom Pension Plan (Details) - Telefónica United Kingdom - Foreign defined benefit plans | 12 Months Ended | |
Dec. 31, 2017yearbeneficiary | Dec. 31, 2016beneficiary | |
Disclosure of defined benefit plans [line items] | ||
Number of beneficiaries under plan | beneficiary | 4,491 | 4,532 |
Average duration of plans | year | 23 | |
Nominal rate of pension payment increase | 3.15% | 3.15% |
Discount rate | 2.45% | 2.60% |
Expected inflation | 3.30% | 3.35% |
Provisions - Fair Value of Plan
Provisions - Fair Value of Plan Assets for Telefónica United Kingdom Pension Plan (Details) - Telefónica United Kingdom - Foreign defined benefit plans - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of fair value of plan assets [line items] | ||
Shares | € 0 | € 357 |
Bonds | 1,651 | 1,306 |
Cash equivalents | 0 | (1) |
Total | € 1,651 | € 1,662 |
Provisions - Effect of Changes
Provisions - Effect of Changes in Actuarial Assumptions on Defined Benefit Obligation of Telefonica United Kingdom Pension Plan (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Percent of possible decrease in actuarial assumption | 1.00% |
Percentage of possible increase in actuarial assumption | 1.00% |
Discount rate (0.25% decrease) | € (270) |
Increase in defined benefit obligation | € 248 |
Telefónica United Kingdom | Foreign defined benefit plans | Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Percent of possible decrease in actuarial assumption | (0.25%) |
Discount rate (0.25% decrease) | € 121 |
Telefónica United Kingdom | Foreign defined benefit plans | Expected inflation | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Percentage of possible increase in actuarial assumption | 0.25% |
Increase in defined benefit obligation | € 104 |
Telefónica United Kingdom | Foreign defined benefit plans | Life expectancy | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Possible increase in life expectancy | 1 year |
Increase in defined benefit obligation | € 54 |
Provisions - Main Actuarial 142
Provisions - Main Actuarial Assumptions Used in Telefónica Brazil Plan (Details) - Telefónica Brazil - Foreign defined benefit plans | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of defined benefit plans [line items] | ||
Nominal rate of salary increase | 5.93% | 6.18% |
Long term inflation rate | 4.25% | 4.50% |
Growth rate for medical costs | 7.38% | 7.64% |
Minimum | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 9.46% | 10.77% |
Maximum | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 9.88% | 10.85% |
Provisions - Sensitivity to Cha
Provisions - Sensitivity to Changes in Actuarial Assumptions on Discounted Obligation of Telefónica Brazil Plan (Details) € in Millions | Dec. 31, 2017EUR (€) |
Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Percentage of possible increase in actuarial assumption | 1.00% |
Percentage of reasonably possible decrease in actuarial assumption | 1.00% |
Telefónica Brazil | Growth rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 734 |
Telefónica Brazil | Foreign defined benefit plans | Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 734 |
Telefónica Brazil | Foreign defined benefit plans | Discount rate | Present value of the obligation by increasing the discount rate by 0.5% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 696 |
Percentage of possible increase in actuarial assumption | 0.50% |
Telefónica Brazil | Foreign defined benefit plans | Discount rate | Present value of the obligation by reducing the discount rate by 0.5% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 776 |
Percentage of reasonably possible decrease in actuarial assumption | 0.50% |
Telefónica Brazil | Foreign defined benefit plans | Growth rate | Present value of the obligation by increasing the rate by 1% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 777 |
Percentage of possible increase in actuarial assumption | 1.00% |
Telefónica Brazil | Foreign defined benefit plans | Growth rate | Present value of the obligation by reducing the rate by 1% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 699 |
Percentage of reasonably possible decrease in actuarial assumption | 1.00% |
Telefónica Brazil | Pension plans | Foreign defined benefit plans | Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 469 |
Telefónica Brazil | Pension plans | Foreign defined benefit plans | Discount rate | Present value of the obligation by increasing the discount rate by 0.5% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 450 |
Telefónica Brazil | Pension plans | Foreign defined benefit plans | Discount rate | Present value of the obligation by reducing the discount rate by 0.5% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 490 |
Telefónica Brazil | Pension plans | Foreign defined benefit plans | Growth rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 469 |
Telefónica Brazil | Pension plans | Foreign defined benefit plans | Growth rate | Present value of the obligation by increasing the rate by 1% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 469 |
Telefónica Brazil | Pension plans | Foreign defined benefit plans | Growth rate | Present value of the obligation by reducing the rate by 1% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 469 |
Telefónica Brazil | Health plans | Foreign defined benefit plans | Discount rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 265 |
Telefónica Brazil | Health plans | Foreign defined benefit plans | Discount rate | Present value of the obligation by increasing the discount rate by 0.5% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 246 |
Telefónica Brazil | Health plans | Foreign defined benefit plans | Discount rate | Present value of the obligation by reducing the discount rate by 0.5% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 286 |
Telefónica Brazil | Health plans | Foreign defined benefit plans | Growth rate | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 265 |
Telefónica Brazil | Health plans | Foreign defined benefit plans | Growth rate | Present value of the obligation by increasing the rate by 1% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | 308 |
Telefónica Brazil | Health plans | Foreign defined benefit plans | Growth rate | Present value of the obligation by reducing the rate by 1% | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Defined benefit obligation, at present value | € 230 |
Provisions - Individual Suspens
Provisions - Individual Suspension Plan (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of defined benefit plans [line items] | ||
Provisions for employee benefits | € 6,578 | € 7,149 |
Individual Suspension Plan | ||
Disclosure of defined benefit plans [line items] | ||
Provisions for employee benefits | € 3,580 | € 3,666 |
Discount rate | 1.05% | |
Average duration of plans | 5 years 2 months 12 days |
Provisions - Movement in Provis
Provisions - Movement in Provisions (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | € 4,944 | |
Other provisions at end of period | 4,856 | € 4,944 |
Telefonica, S.A. | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 4,944 | 4,098 |
Additions and accretion | 1,497 | 1,403 |
Retirements/amount applied | (1,127) | (889) |
Translation differences and other | (458) | 332 |
Other provisions at end of period | € 4,856 | € 4,944 |
Provisions - Provisions Narrati
Provisions - Provisions Narrative (Details) € in Thousands, PEN in Millions | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Dec. 31, 2016PEN | Dec. 31, 2015EUR (€) | Dec. 31, 2015PEN |
Disclosure of other provisions [line items] | |||||
Other provisions | € 4,856,000 | € 4,944,000 | |||
Goodwill expected to be deductible for tax purposes | 215,000 | 147,000 | |||
Telefónica Brazil | |||||
Disclosure of other provisions [line items] | |||||
Other provisions | 278,000 | 241,000 | |||
Telefónica Brazil | Tax contingent liability | |||||
Disclosure of other provisions [line items] | |||||
Estimated financial effect of contingent liabilities | 8,919 | 8,748 | |||
Telefónica Brazil | Regulatory proceedings | |||||
Disclosure of other provisions [line items] | |||||
Other provisions | 1,277,000 | 1,461,000 | |||
Telefónica Brazil | Taxes | |||||
Disclosure of other provisions [line items] | |||||
Other provisions | 902,000 | 911,000 | € 644,000 | ||
Telefónica Brazil | Vivo | Goodwill amortized for tax | |||||
Disclosure of other provisions [line items] | |||||
Other provisions | 213,000 | 256,000 | |||
Telefónica Peru | Taxes | |||||
Disclosure of other provisions [line items] | |||||
Other provisions | € 425,000 | € 464,000 | PEN 1,653 | € 431,000 | PEN 1,521 |
Provisions - Balances of Provis
Provisions - Balances of Provisions (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of other provisions [line items] | |||
Other provisions | € 4,856 | € 4,944 | |
Telefónica Brazil | |||
Disclosure of other provisions [line items] | |||
Other provisions | 278 | 241 | |
Telefónica Brazil | Provisions for tax proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 902 | 911 | € 644 |
Telefónica Brazil | Provisions for tax proceedings | Federal taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 127 | 100 | |
Telefónica Brazil | Provisions for tax proceedings | State taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 58 | 66 | |
Telefónica Brazil | Provisions for tax proceedings | Municipal taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 8 | 9 | |
Telefónica Brazil | Provisions for tax proceedings | FUST, FISTEL and EBC | |||
Disclosure of other provisions [line items] | |||
Other provisions | 709 | 736 | |
Telefónica Brazil | Provisions for regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 1,277 | 1,461 | |
Telefónica Brazil | |||
Disclosure of other provisions [line items] | |||
Other provisions | 1,693 | 1,858 | |
Telefónica Brazil | Provisions for tax proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 902 | 911 | |
Telefónica Brazil | Provisions for regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 278 | 241 | |
Telefónica Brazil | Provisions for labor claims | |||
Disclosure of other provisions [line items] | |||
Other provisions | 247 | 403 | |
Telefónica Brazil | Provisions for civil proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | € 266 | € 303 |
Provisions - Provisions for Tax
Provisions - Provisions for Tax Proceedings (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | € 4,944 | |
Other provisions at end of period | 4,856 | € 4,944 |
Telefónica Brazil | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 241 | |
Other provisions at end of period | 278 | 241 |
Telefónica Brazil | Taxes | ||
Disclosure of other provisions [line items] | ||
Other provisions at beginning of period | 911 | 644 |
Additions (income) | 63 | 33 |
Write-offs due to reversal (income) | (20) | (14) |
Write-offs due to payment | (47) | (41) |
Monetary updating | 97 | 99 |
Translation differences | (134) | 165 |
Other movements | 32 | 25 |
Other provisions at end of period | € 902 | € 911 |
Provisions - Provisions for Jud
Provisions - Provisions for Judicial Proceedings (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of other provisions [line items] | |||
Other provisions | € 4,856 | € 4,944 | |
Current (see Note 13.b) | 1,304 | 1,218 | |
Non-current (see Note 13.a) | 3,552 | 3,726 | |
Telefónica Brazil | |||
Disclosure of other provisions [line items] | |||
Other provisions | 278 | 241 | |
Telefónica Brazil | Taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 902 | 911 | € 644 |
Telefónica Brazil | Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 1,277 | 1,461 | |
Telefónica Brazil | Judicial Proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 1,680 | 1,849 | |
Current (see Note 13.b) | 82 | 88 | |
Non-current (see Note 13.a) | 1,598 | 1,761 | |
Telefónica Brazil | Judicial Proceedings | Taxes | |||
Disclosure of other provisions [line items] | |||
Other provisions | 1,066 | 1,094 | |
Telefónica Brazil | Judicial Proceedings | Labor claims | |||
Disclosure of other provisions [line items] | |||
Other provisions | 223 | 306 | |
Telefónica Brazil | Judicial Proceedings | Civil proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 304 | 323 | |
Telefónica Brazil | Judicial Proceedings | Regulatory proceedings | |||
Disclosure of other provisions [line items] | |||
Other provisions | 51 | 81 | |
Telefónica Brazil | Judicial Proceedings | Garnishments | |||
Disclosure of other provisions [line items] | |||
Other provisions | € 36 | € 45 |
Provisions - Provisions for Dis
Provisions - Provisions for Dismantling of Assets (Details) - EUR (€) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Entity Information [Line Items] | ||
Dismantling of assets | € 973 | € 1,001 |
Telefónica Germany | ||
Entity Information [Line Items] | ||
Dismantling of assets | 450 | 457 |
Telefónica Brazil | ||
Entity Information [Line Items] | ||
Dismantling of assets | € 146 | € 159 |
Derivative Financial Instrum151
Derivative Financial Instruments and Risk Management Policies - Exchange Rate Risk (Details) € in Millions, VEF in Millions | 12 Months Ended | |||
Dec. 31, 2017EUR (€)VEB / $ | Dec. 31, 2016EUR (€)VEB / $ | Dec. 31, 2017VEFVEB / $ | Dec. 31, 2015VEB / $ | |
Disclosure of detailed information about hedging instruments [line items] | ||||
Net debt held as a hedging instrument | € 44,230 | |||
Foreign exchange gain (loss) | € (419) | € (694) | ||
Foreign exchange rate | VEB / $ | 36,115.280 | 673.762 | 36,115.280 | 198.699 |
Latin American currencies | Foreign currency exchange risk | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Net debt held as a hedging instrument | € 4,689 | € 6,355 | ||
USD | Foreign currency exchange risk | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Net debt held as a hedging instrument | 146 | 480 | ||
GBP | Foreign currency exchange risk | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Net debt held as a hedging instrument | € 3,089 | € 2,828 | ||
Ratio of debt to OBIDA | 1.97 | 1.97 | ||
VEB | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Foreign exchange gain (loss) | € (426) | |||
VEB | Foreign currency exchange risk | Cash flow hedges | ||||
Disclosure of detailed information about hedging instruments [line items] | ||||
Net debt held as a hedging instrument | (170) | VEF 7,358,790 | ||
Increase in financial income due to the effect of monetary correction for inflation | € 510 |
Derivative Financial Instrum152
Derivative Financial Instruments and Risk Management Policies - Sensitivity of Foreign Currency Gains and Losses and of Equity Changes in Exchange Rates (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
All currencies vs EUR | |
Change | |
Increase in exchange rate | 10.00% |
Decrease in exchange rate | (10.00%) |
Impact on the consolidated income statement | |
Increase in net income | € 17 |
Decrease in net income | (17) |
Impact on consolidated equity | |
Decrease in consolidated equity | (352) |
Increase in consolidated equity | € 352 |
US dollar | |
Change | |
Decrease in exchange rate | (10.00%) |
Impact on the consolidated income statement | |
Increase in net income | € 2 |
Impact on consolidated equity | |
Increase in consolidated equity | € 66 |
USD vs EUR | |
Change | |
Increase in exchange rate | 10.00% |
Impact on the consolidated income statement | |
Decrease in net income | € (2) |
Impact on consolidated equity | |
Decrease in consolidated equity | € (66) |
European currencies vs EUR | |
Change | |
Increase in exchange rate | 10.00% |
Decrease in exchange rate | (10.00%) |
Impact on the consolidated income statement | |
Increase in net income | € 1 |
Decrease in net income | (1) |
Impact on consolidated equity | |
Decrease in consolidated equity | (303) |
Increase in consolidated equity | € 303 |
Latin American currencies vs USD | |
Change | |
Increase in exchange rate | 10.00% |
Decrease in exchange rate | (10.00%) |
Impact on the consolidated income statement | |
Increase in net income | € 20 |
Decrease in net income | (20) |
Impact on consolidated equity | |
Decrease in consolidated equity | (17) |
Increase in consolidated equity | € 17 |
Derivative Financial Instrum153
Derivative Financial Instruments and Risk Management Policies - Interest Rate Risk (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financial Instruments [Abstract] | ||
Percentage of net debt plus commitments pegged to fixed interest rates for a period greater than one year | 71.00% | 50.80% |
Percentage of net debt at floating rates or at fixed rates maturing in under one year | 29.00% | |
Percentage of net debt at floating rates or at fixed rates maturing in under one year with collared interest rates over one year | 80.00% | 50.00% |
Net financial results | € 2,199 | |
Percent decrease in net financial results | 0.90% |
Derivative Financial Instrum154
Derivative Financial Instruments and Risk Management Policies - Sensitivity Analysis Due to Fluctuations in Interest Rates (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Change in interest rate | |
Increase in interest rate | 1.00% |
Decrease in interest rate | (1.00%) |
Impact on consolidated income statement | |
Decrease in consolidated income | € (91) |
Increase in consolidated income | 74 |
Impact on consolidated equity | |
Increase in consolidated equity | 335 |
Decrease in consolidated equity | € (331) |
Derivative Financial Instrum155
Derivative Financial Instruments and Risk Management Policies - Liquidity Risk (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of financial liabilities [line items] | |
Average maturity of net financial debt | 8 years 29 days |
Net debt held as a hedging instrument | € 44,230 |
Gross debt held as a hedging instrument, current maturities | 9,414 |
Non-current financial liabilities | € 12,541 |
Minimum | |
Disclosure of financial liabilities [line items] | |
Average maturity of net financial debt | 6 years |
Derivative Financial Instrum156
Derivative Financial Instruments and Risk Management Policies - Country Risk (Details) € in Millions | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Disclosure of financial liabilities [line items] | |
Borrowings | € 44,230 |
Net repatriation of funds to Spain | 344 |
Net repatriation of funds from dividends received | 1,134 |
Net repatriation of funds from other items | 790 |
Telefónica Hispanoamérica | |
Disclosure of financial liabilities [line items] | |
Borrowings | € 3,079 |
Percentage of net financial debt held | 7.00% |
Derivative Financial Instrum157
Derivative Financial Instruments and Risk Management Policies - Credit Risk (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Financial Instruments [Abstract] | ||
Exposure to credit risk on guarantees | € 5,144 | € 5,134 |
Derivative Financial Instrum158
Derivative Financial Instruments and Risk Management Policies - Derivatives Policy (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Financial Instruments [Abstract] | ||
Nominal value of outstanding derivatives | € 145,166 | € 152,096 |
Decrease in outstanding derivatives | 4.60% | |
Interest rate risk | Cash flow hedges | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Average interest rate (as a percent) | 4.00% | |
Interest rate risk | Cash flow hedges | Minimum | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Average interest rate (as a percent) | 2.00% | |
Interest rate risk | Cash flow hedges | Maximum | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Average interest rate (as a percent) | 4.00% |
Derivative Financial Instrum159
Derivative Financial Instruments and Risk Management Policies - Breakdown of Financial Results (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of financial assets [line items] | |||
Other financial income | € 4,833 | € 4,715 | € 5,235 |
Total | 52,008 | 52,036 | 54,916 |
Subtotal | 505 | 3,401 | |
Subtotal | (3,363) | (4,476) | (4,417) |
Hedging gains (losses) for hedge of group of items with offsetting risk positions | 184 | ||
Derivative instruments | |||
Disclosure of financial assets [line items] | |||
Interest income | 638 | 723 | 1,068 |
Dividends received | 16 | 19 | 30 |
Other financial income | 17 | 38 | 250 |
Total | 671 | 780 | 1,348 |
Changes in fair value of financial assets at fair value through profit or loss | 35 | 438 | (317) |
Changes in fair value of financial liabilities at fair value through profit or loss | (97) | (463) | 189 |
Transfer from equity to profit and loss from cash flow hedges | (162) | (238) | (207) |
Transfer from equity to profit and loss from available-for-sale assets and others | (33) | (136) | 539 |
Gain/(loss) on fair value hedges | (150) | (26) | 62 |
(Loss)/gain on adjustment to items hedged by fair value hedges | 194 | (6) | 24 |
Subtotal | (213) | (431) | 290 |
Interest expenses | (1,975) | (2,225) | (3,146) |
Ineffective portion of cash flow hedges | (10) | 1 | 0 |
Accretion of provisions and other liabilities | (453) | (466) | (313) |
Other financial expenses | (310) | (365) | (520) |
Subtotal | (2,748) | (3,055) | (3,979) |
Net finance costs excluding foreign exchange differences and hyperinflationary adjustments | € (2,290) | € (2,706) | € (2,341) |
Derivative Financial Instrum160
Derivative Financial Instruments and Risk Management Policies - Breakdown of Derivatives and Expected Maturity Schedule (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about hedges [line items] | ||
Gain (loss) on derivative | € 505 | € 3,401 |
Other Derivatives | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (13) | (107) |
Notional amount | (3,537) | (2,215) |
Other Derivatives | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (2,431) | 1,256 |
Other Derivatives | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,840 | (332) |
Other Derivatives | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (495) | (437) |
Other Derivatives | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (2,451) | (2,702) |
Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (422) | |
Notional amount | 5,851 | |
Cash flow hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 344 | |
Cash flow hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 963 | |
Cash flow hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 800 | |
Cash flow hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 3,744 | |
Fair value hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (124) | |
Notional amount | 827 | |
Fair value hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | |
Fair value hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | |
Fair value hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 152 | |
Fair value hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 675 | |
Net investment Hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | 0 | (7) |
Notional amount | (140) | (2,378) |
Net investment Hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (140) | (2,309) |
Net investment Hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | (33) |
Net investment Hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | (36) |
Net investment Hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 0 |
Currency swaps | ||
Disclosure of detailed information about hedges [line items] | ||
Gain (loss) on derivative | 104 | |
Interest rate hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (285) | (407) |
Notional amount | 767 | (1,002) |
Interest rate hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (1,596) | (535) |
Interest rate hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (901) | (481) |
Interest rate hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,563 | (653) |
Interest rate hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,701 | 667 |
Interest rate hedges | Other Derivatives | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (109) | 9 |
Notional amount | (4,741) | (2,514) |
Interest rate hedges | Other Derivatives | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (3,035) | 1,232 |
Interest rate hedges | Other Derivatives | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,840 | (471) |
Interest rate hedges | Other Derivatives | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (495) | (456) |
Interest rate hedges | Other Derivatives | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (3,051) | (2,818) |
Interest rate hedges | Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | 140 | 172 |
Notional amount | 3,504 | 2,825 |
Interest rate hedges | Cash flow hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (1,015) | (505) |
Interest rate hedges | Cash flow hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (658) | 150 |
Interest rate hedges | Cash flow hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,399 | (417) |
Interest rate hedges | Cash flow hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 3,778 | 3,597 |
Interest rate hedges | Fair value hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (425) | (579) |
Notional amount | (2,737) | (3,827) |
Interest rate hedges | Fair value hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (581) | (30) |
Interest rate hedges | Fair value hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (243) | (631) |
Interest rate hedges | Fair value hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 164 | (236) |
Interest rate hedges | Fair value hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (2,077) | (2,930) |
Exchange rate hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | 339 | (1,038) |
Notional amount | 7,266 | 5,112 |
Exchange rate hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (220) | 823 |
Exchange rate hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 547 | 1,170 |
Exchange rate hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,219 | 359 |
Exchange rate hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,720 | 2,760 |
Exchange rate hedges | Other Derivatives | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | 26 | (101) |
Notional amount | (209) | (299) |
Exchange rate hedges | Other Derivatives | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (209) | (574) |
Exchange rate hedges | Other Derivatives | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 139 |
Exchange rate hedges | Other Derivatives | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 19 |
Exchange rate hedges | Other Derivatives | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 116 |
Exchange rate hedges | Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | 344 | (1,062) |
Notional amount | 9,260 | 5,317 |
Exchange rate hedges | Cash flow hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,700 | 1,028 |
Exchange rate hedges | Cash flow hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 621 | 1,170 |
Exchange rate hedges | Cash flow hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,219 | 359 |
Exchange rate hedges | Cash flow hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,720 | 2,760 |
Exchange rate hedges | Fair value hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (5) | 24 |
Notional amount | (1,994) | (205) |
Exchange rate hedges | Fair value hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (1,920) | (205) |
Exchange rate hedges | Fair value hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (74) | 0 |
Exchange rate hedges | Fair value hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 0 |
Exchange rate hedges | Fair value hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 0 |
Interest and exchange rate hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (546) | (1,842) |
Notional amount | 6,678 | 5,186 |
Gain (loss) on derivative | 2,896 | |
Interest and exchange rate hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 344 | (260) |
Interest and exchange rate hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 963 | 24 |
Interest and exchange rate hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 952 | 1,149 |
Interest and exchange rate hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,419 | 4,273 |
Interest and exchange rate hedges | Cash flow hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (1,707) | |
Notional amount | 5,407 | |
Interest and exchange rate hedges | Cash flow hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (277) | |
Interest and exchange rate hedges | Cash flow hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 309 | |
Interest and exchange rate hedges | Cash flow hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,160 | |
Interest and exchange rate hedges | Cash flow hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,215 | |
Interest and exchange rate hedges | Fair value hedges | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | (135) | |
Notional amount | (221) | |
Interest and exchange rate hedges | Fair value hedges | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 17 | |
Interest and exchange rate hedges | Fair value hedges | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (285) | |
Interest and exchange rate hedges | Fair value hedges | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | (11) | |
Interest and exchange rate hedges | Fair value hedges | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 58 | |
Others | Other Derivatives | ||
Disclosure of detailed information about hedges [line items] | ||
Fair value | 70 | (15) |
Notional amount | 1,413 | 598 |
Others | Other Derivatives | Within one year | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 813 | 598 |
Others | Other Derivatives | 2019 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 0 |
Others | Other Derivatives | 2020 | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 0 | 0 |
Others | Other Derivatives | Subsequent years | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | € 600 | € 0 |
Income Tax Matters - Narrative
Income Tax Matters - Narrative (Details) € in Millions, PEN in Millions, BRL in Millions | 1 Months Ended | 12 Months Ended | 24 Months Ended | |||||||||
Aug. 31, 2015 | Dec. 31, 2017EUR (€)company | Dec. 31, 2017BRL | Dec. 31, 2016EUR (€)company | Dec. 31, 2016PEN | Dec. 31, 2015EUR (€) | Dec. 31, 2012EUR (€) | Dec. 31, 2013EUR (€) | Dec. 31, 2013PEN | Dec. 31, 2017BRLcompany | Dec. 31, 2016PENcompany | Dec. 31, 2015PEN | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Number of consolidated tax group companies | company | 45 | 58 | 45 | 58 | ||||||||
Deferred tax assets | € 7,820 | € 8,229 | € 8,675 | |||||||||
Disposal of deferred tax assets | 192 | 224 | ||||||||||
Reclassified tax liabilities | 237 | |||||||||||
Unused tax losses for which no deferred tax asset recognised | 755 | |||||||||||
Disposal of deferred tax liability | 112 | |||||||||||
Deferred tax liabilities | 2,145 | 2,395 | 2,550 | |||||||||
Income tax expense | 1,219 | 846 | 155 | |||||||||
Corporate income tax assessment | € 135 | |||||||||||
Positive tax effect of impairment of goodwill | 1,226 | |||||||||||
Amortized goodwill for tax purposes | 215 | 147 | ||||||||||
Losses on litigation settlements | 4,781 | BRL 18,968 | 431 | PEN 1,521 | € 80 | PEN 286 | ||||||
Other provisions | 4,856 | 4,944 | ||||||||||
Temporary differences | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 5,875 | 6,899 | ||||||||||
Deferred tax liabilities | 4,834 | 5,305 | ||||||||||
Derecognized tax assets | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 98 | 866 | ||||||||||
Workforce restructuring plan | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 84 | 334 | ||||||||||
Limit on deductible financial expenses | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 134 | |||||||||||
Additions | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax relating to items credited (charged) directly to equity | 69 | |||||||||||
Disposals | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax relating to items credited (charged) directly to equity | (64) | |||||||||||
July 2015 tax inspection | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Income tax expense | 206 | |||||||||||
Telefónica Germany | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 112 | |||||||||||
Telefónica Germany | Temporary differences | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 162 | 427 | ||||||||||
Telefónica Germany | Derecognized tax assets | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 201 | |||||||||||
Telefonica Venezolana | Hyperinflation adjustment | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Income tax expense | 138 | |||||||||||
Telefónica Germany Holdings Ltd. Holding company | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Tax credits recognized | 82 | |||||||||||
Applied tax loss carryforwards | 78 | |||||||||||
Telefonica, S.A. | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 7,820 | 8,229 | ||||||||||
Deferred tax liabilities reclassified | 229 | |||||||||||
Other provisions | 4,856 | 4,944 | 4,098 | |||||||||
Telefonica, S.A. | Unused tax deductions | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 1,858 | 1,727 | ||||||||||
Telefonica, S.A. | Temporary differences | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 3,186 | 3,989 | ||||||||||
Group 3G UMTS Holding | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 115 | |||||||||||
Group 3G UMTS Holding | Tax loss carryforwards applied | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 89 | |||||||||||
Colombia Telecomunicaciones, S.A., ESP | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Capitalized tax loss carryforward | 163 | |||||||||||
Colombia Telecomunicaciones, S.A., ESP | Debt with PARAPAT | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 324 | |||||||||||
Colombia Telecomunicaciones, S.A., ESP | Unused tax deductions | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 233 | |||||||||||
Colombia Telecomunicaciones, S.A., ESP | Temporary differences | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 63 | |||||||||||
Telefónica Brazil | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Tax credits recognized | 198 | |||||||||||
Amortized goodwill for tax purposes | 1,196 | BRL 4,744 | ||||||||||
Other provisions | 1,693 | 1,858 | ||||||||||
Telefónica Brazil | Temporary differences | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Increase (decrease) in deferred tax liability (asset) | (258) | |||||||||||
Disposal of deferred tax assets | 281 | |||||||||||
Telefónica Brazil | Goodwill amortized for tax | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax liabilities | 317 | |||||||||||
Telefónica Móviles Chile, S.A. | Merger | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 193 | |||||||||||
Spain | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 1,500 | 1,617 | ||||||||||
Disposal of deferred tax assets | 134 | 866 | ||||||||||
Unused tax losses for which no deferred tax asset recognised | 1,283 | |||||||||||
Unused tax loss carryforwards | 11,132 | |||||||||||
Spain | Unused tax deductions | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 71 | 755 | ||||||||||
Spain | Total unused tax credits | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 1,858 | |||||||||||
Spain | Telefonica, S.A. | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Increase (decrease) in deferred tax liability (asset) | (24) | |||||||||||
Disposal of deferred tax assets | 96 | |||||||||||
Germany | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 472 | |||||||||||
Unused tax losses for which no deferred tax asset recognised | 6,500 | |||||||||||
Hispanoamérica | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Deferred tax assets | 799 | |||||||||||
Unused tax losses for which no deferred tax asset recognised | 165 | |||||||||||
Telefónica Peru | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Percentage of dispute that accounts for total amount under litigation | 75.00% | |||||||||||
Taxes | Telefónica Brazil | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Other provisions | 902 | 911 | ||||||||||
Taxes | Telefónica Peru | ||||||||||||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||||||||||||
Other provisions | € 425 | € 464 | € 431 | PEN 1,653 | PEN 1,521 |
Income Tax Matters - Deferred T
Income Tax Matters - Deferred Taxes Movement (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Income Taxes [Abstract] | ||
Beginning balance, Deferred tax assets | € 8,229 | € 8,675 |
Additions | 1,702 | 2,141 |
Disposals | (1,711) | (2,325) |
Transfers | (196) | (194) |
Translation differences and hyperinflation adjustments | (211) | (28) |
Company movements and others | 7 | (40) |
Ending balance, Deferred tax assets | 7,820 | 8,229 |
Beginning balance, Deferred tax liabilities | 2,395 | 2,550 |
Additions | 579 | 327 |
Disposals | (413) | (519) |
Transfers | (391) | (12) |
Translation differences and hyperinflation adjustments | (70) | 14 |
Company movements and others | 45 | 35 |
Ending balance, Deferred tax liabilities | € 2,145 | € 2,395 |
Income Tax Matters - Expected R
Income Tax Matters - Expected Realization of Deferred Tax Assets and Liabilities (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 7,820 | € 8,229 | € 8,675 |
Deferred tax liabilities | 2,145 | € 2,395 | € 2,550 |
Less than 1 year | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 922 | ||
Deferred tax liabilities | (86) | ||
More than 360 days | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 6,898 | ||
Deferred tax liabilities | € 2,231 |
Income Tax Matters - Deferre164
Income Tax Matters - Deferred Tax Assets (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 7,820 | € 8,229 | € 8,675 |
Tax credits for loss carryforwards | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 2,776 | 2,513 | € 3,149 |
Deferred tax assets for temporary differences | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 5,875 | 6,899 | |
Telefonica, S.A. | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 7,820 | 8,229 | |
Telefonica, S.A. | Tax credits for loss carryforwards | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 2,776 | 2,513 | |
Telefonica, S.A. | Unused tax deductions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,858 | 1,727 | |
Telefonica, S.A. | Deferred tax assets for temporary differences | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 3,186 | € 3,989 |
Income Tax Matters - Tax Credit
Income Tax Matters - Tax Credits for Loss Carry-Forwards (Details) - EUR (€) € in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | € 8,229 | € 8,675 |
Ending balance, Deferred tax assets | 7,820 | 8,229 |
Tax loss carryforwards generated in the tax group | 755 | |
Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 2,513 | 3,149 |
Additions | 757 | 391 |
Reversals | (347) | (957) |
Perimeter changes | (1) | 0 |
Translation differences and other | (146) | (70) |
Ending balance, Deferred tax assets | 2,776 | 2,513 |
Tax loss carryforwards generated in the tax group | 8,077 | |
Spain | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 1,617 | |
Ending balance, Deferred tax assets | 1,500 | 1,617 |
Tax loss carryforwards generated in the tax group | 1,283 | |
Spain | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 1,617 | 2,520 |
Additions | 0 | 2 |
Reversals | (114) | (866) |
Perimeter changes | (1) | 0 |
Translation differences and other | (2) | (39) |
Ending balance, Deferred tax assets | 1,500 | 1,617 |
Germany | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Ending balance, Deferred tax assets | 472 | |
Tax loss carryforwards generated in the tax group | 6,500 | |
Germany | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 550 | 413 |
Additions | 82 | 226 |
Reversals | (160) | (89) |
Perimeter changes | 0 | 0 |
Translation differences and other | 0 | 0 |
Ending balance, Deferred tax assets | 472 | 550 |
Hispanoamérica | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Ending balance, Deferred tax assets | 799 | |
Tax loss carryforwards generated in the tax group | 165 | |
Hispanoamérica | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 321 | 192 |
Additions | 675 | 157 |
Reversals | (53) | 0 |
Perimeter changes | 0 | 0 |
Translation differences and other | (144) | (28) |
Ending balance, Deferred tax assets | 799 | 321 |
Other countries | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Beginning balance, Deferred tax assets | 25 | 24 |
Additions | 0 | 6 |
Reversals | (20) | (2) |
Perimeter changes | 0 | 0 |
Translation differences and other | 0 | (3) |
Ending balance, Deferred tax assets | 5 | € 25 |
Telefónica Spain | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax loss carryforwards generated in the tax group | 3,055 | |
Less than 1 year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Ending balance, Deferred tax assets | 922 | |
Less than 1 year | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax loss carryforwards generated in the tax group | 237 | |
Less than 1 year | Telefónica Spain | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax loss carryforwards generated in the tax group | 0 | |
More than 360 days | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Ending balance, Deferred tax assets | 6,898 | |
More than 360 days | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax loss carryforwards generated in the tax group | 7,840 | |
More than 360 days | Telefónica Spain | Tax credits for loss carryforwards | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Tax loss carryforwards generated in the tax group | € 3,055 |
Income Tax Matters - Temporary
Income Tax Matters - Temporary Differences (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 7,820 | € 8,229 | € 8,675 |
Deferred tax liabilities | 2,145 | 2,395 | € 2,550 |
Deferred tax liabilities (assets) offset | (2,689) | (2,910) | |
Goodwill and intangible assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,044 | 1,347 | |
Deferred tax liabilities | 2,192 | 2,308 | |
Property, plant and equipment | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,139 | 1,243 | |
Deferred tax liabilities | 1,168 | 1,190 | |
Personnel commitments | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,562 | 1,665 | |
Deferred tax liabilities | 35 | 34 | |
Provisions | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 1,079 | 1,134 | |
Deferred tax liabilities | 42 | 31 | |
Investments in subsidiaries, associates and other shareholdings | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 4 | 0 | |
Deferred tax liabilities | 1,015 | 1,299 | |
Inventories and receivables | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 301 | 356 | |
Deferred tax liabilities | 53 | 85 | |
Other | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 746 | 1,154 | |
Deferred tax liabilities | 329 | 358 | |
Total deferred tax assets for temporary differences | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 5,875 | 6,899 | |
Deferred tax liabilities | 4,834 | 5,305 | |
Total temporary difference | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | € 3,186 | € 3,989 |
Income Tax Matters - Tax Payabl
Income Tax Matters - Tax Payables and Receivables (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes [Abstract] | ||
Tax withholdings | € 154 | € 81 |
Indirect taxes | 1,030 | 1,086 |
Social security | 151 | 157 |
Current income taxes payable | 580 | 486 |
Other | 426 | 522 |
Total | 2,341 | 2,332 |
Indirect tax | 618 | 790 |
Current income taxes receivable | 618 | 601 |
Other | 139 | 142 |
Total | € 1,375 | € 1,533 |
Income Tax Matters - Reconcilia
Income Tax Matters - Reconciliation of Profit (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||
Accounting profit before tax | € 4,597 | € 3,245 | € 906 |
Tax expense at prevailing statutory rate | 1,310 | 897 | 209 |
Permanent differences | (186) | (42) | 177 |
Changes in deferred tax charge due to changes in tax rates | 19 | 1 | (8) |
(Capitalization)/reversal of tax deduction and tax relief | (79) | (762) | 453 |
(Capitalization)/reversal of loss carryforwards | (123) | 714 | (1,200) |
(Increase)/decrease in tax expense arising from temporary differences | 157 | (8) | 72 |
Other | 121 | 46 | 452 |
Current tax expense | 968 | 1,012 | 1,753 |
Deferred tax expense / (benefit) | 251 | (166) | (1,598) |
Income tax expense | € 1,219 | € 846 | € 155 |
Revenue and Expenses - Revenues
Revenue and Expenses - Revenues (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Analysis of income and expense [abstract] | |||
Rendering of services | € 47,175 | € 47,321 | € 49,681 |
Net sales | 4,833 | 4,715 | 5,235 |
Total | € 52,008 | € 52,036 | € 54,916 |
Revenue and Expenses - Other In
Revenue and Expenses - Other Income (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Continuing And Discontinued Operations [Line Items] | |||
Own work capitalized | € 863 | € 867 | € 946 |
Gain on disposal of companies | 3 | 228 | 18 |
Gain on disposal of other assets | 176 | 130 | 298 |
Government grants | 23 | 28 | 33 |
Other operating income | 424 | 510 | 716 |
Total | 1,489 | 1,763 | 2,011 |
Telefónica Brazil | |||
Continuing And Discontinued Operations [Line Items] | |||
Other operating income | 98 | ||
E-Plus | |||
Continuing And Discontinued Operations [Line Items] | |||
Other operating income | 104 | ||
Telephone towers | |||
Continuing And Discontinued Operations [Line Items] | |||
Gain on disposal of other assets | € 7 | 1 | 65 |
Spectrum swap | |||
Continuing And Discontinued Operations [Line Items] | |||
Gain on disposal of other assets | € 79 | ||
Telefónica Media Argentina, S.A. and Atlántida Comunicaciones, S.A. | |||
Continuing And Discontinued Operations [Line Items] | |||
Gain on disposal of companies | € 199 |
Revenue and Expenses - Other Ex
Revenue and Expenses - Other Expenses (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of transactions between related parties [line items] | |||
Leases | € 1,069 | € 1,076 | € 1,163 |
Advertising | 1,211 | 1,256 | 1,367 |
Other external services | 10,445 | 10,436 | 11,586 |
Taxes other than income tax | 1,285 | 1,136 | 1,232 |
Change in trade provisions | 863 | 799 | 831 |
Losses on disposal of fixed assets and changes in provisions for fixed assets | 44 | 71 | 39 |
Goodwill impairment (Note 7) | 0 | 215 | 104 |
Other operating expenses | 509 | 352 | 480 |
Total | € 15,426 | € 15,341 | 16,802 |
Fundación Telefónica | |||
Disclosure of transactions between related parties [line items] | |||
Outstanding commitments made by entity, related party transactions | € 325 |
Revenue and Expenses - Estimate
Revenue and Expenses - Estimated Payment Schedule (Details) € in Millions | Dec. 31, 2017EUR (€) |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | € 9,099 |
Purchase and other contractual obligations | 11,373 |
Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 1,739 |
Purchase and other contractual obligations | 5,326 |
1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 2,723 |
Purchase and other contractual obligations | 2,957 |
3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 1,912 |
Purchase and other contractual obligations | 1,421 |
More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 2,725 |
Purchase and other contractual obligations | 1,669 |
Operating segments | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations, at present value | 7,344 |
Others | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 430 |
Operating lease obligations, at present value | 403 |
Others | Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 86 |
Others | 1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 144 |
Others | 3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 89 |
Others | More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 111 |
Telefónica Brazil | Operating segments | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 3,451 |
Operating lease obligations, at present value | 2,239 |
Telefónica Brazil | Operating segments | Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 514 |
Telefónica Brazil | Operating segments | 1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 1,001 |
Telefónica Brazil | Operating segments | 3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 718 |
Telefónica Brazil | Operating segments | More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 1,218 |
Telefónica Germany | Operating segments | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 2,340 |
Operating lease obligations, at present value | 2,258 |
Telefónica Germany | Operating segments | Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 520 |
Telefónica Germany | Operating segments | 1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 660 |
Telefónica Germany | Operating segments | 3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 453 |
Telefónica Germany | Operating segments | More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 707 |
Telefónica Hispanoamérica | Operating segments | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 1,793 |
Operating lease obligations, at present value | 1,408 |
Telefónica Hispanoamérica | Operating segments | Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 376 |
Telefónica Hispanoamérica | Operating segments | 1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 582 |
Telefónica Hispanoamérica | Operating segments | 3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 409 |
Telefónica Hispanoamérica | Operating segments | More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 426 |
Telefónica Spain | Operating segments | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 621 |
Operating lease obligations, at present value | 604 |
Telefónica Spain | Operating segments | Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 104 |
Telefónica Spain | Operating segments | 1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 201 |
Telefónica Spain | Operating segments | 3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 164 |
Telefónica Spain | Operating segments | More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 152 |
Telefónica United Kingdom | Operating segments | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 464 |
Operating lease obligations, at present value | 432 |
Telefónica United Kingdom | Operating segments | Less than 1 year | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 139 |
Telefónica United Kingdom | Operating segments | 1 to 3 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 135 |
Telefónica United Kingdom | Operating segments | 3 to 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | 79 |
Telefónica United Kingdom | Operating segments | More than 5 years | |
Disclosure of finance lease and operating lease by lessee [line items] | |
Operating lease obligations | € 111 |
Revenue and Expenses - Headcoun
Revenue and Expenses - Headcount (Details) - employee | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | May 31, 2015 | |
Disclosure of operating segments [line items] | ||||
Average employees over year | 125,371 | 132,120 | 133,569,000,000 | |
Employees at year-end | 122,718 | 127,323 | 137,506,000,000 | |
Percentage of female employees | 37.70% | 37.60% | ||
GVT | ||||
Disclosure of operating segments [line items] | ||||
Employees at year-end | 18,179 | |||
DTS | ||||
Disclosure of operating segments [line items] | ||||
Employees at year-end | 1,818 | |||
Others | ||||
Disclosure of operating segments [line items] | ||||
Average employees over year | 9,824 | 12,975 | 17,877,000,000 | |
Employees at year-end | 8,541 | 10,276 | 17,364,000,000 | |
Telefónica Spain | Operating segments | ||||
Disclosure of operating segments [line items] | ||||
Average employees over year | 28,084 | 30,214 | 31,354,000,000 | |
Employees at year-end | 27,291 | 28,772 | 32,171,000,000 | |
Number of employees with disabilities | 842 | 239 | ||
Telefónica United Kingdom | Operating segments | ||||
Disclosure of operating segments [line items] | ||||
Average employees over year | 6,776 | 7,454 | 7,677,000,000 | |
Employees at year-end | 6,687 | 7,075 | 7,616,000,000 | |
Telefónica Germany | Operating segments | ||||
Disclosure of operating segments [line items] | ||||
Average employees over year | 8,653 | 8,341 | 9,941,000,000 | |
Employees at year-end | 8,535 | 8,517 | 8,557,000,000 | |
Telefónica Brazil | Operating segments | ||||
Disclosure of operating segments [line items] | ||||
Average employees over year | 33,991 | 34,247 | 28,488,000,000 | |
Employees at year-end | 34,125 | 33,782 | 33,847,000,000 | |
Telefónica Hispanoamérica | Operating segments | ||||
Disclosure of operating segments [line items] | ||||
Average employees over year | 38,043 | 38,889 | 38,232,000,000 | |
Employees at year-end | 37,539 | 38,901 | 37,951,000,000 |
Revenue and Expenses - Deprecia
Revenue and Expenses - Depreciation and Amortization (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Analysis of income and expense [abstract] | |||
Depreciation of property, plant and equipment (Note 8) | € 5,953 | € 5,951 | € 6,071 |
Amortization of intangible assets (Note 6) | 3,443 | 3,698 | 3,633 |
Total | € 9,396 | € 9,649 | € 9,704 |
Revenue and Expenses - Data Use
Revenue and Expenses - Data Used for Calculation of Basic and Diluted Earnings Per Share (Details) - EUR (€) shares in Thousands, € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Profit attributable to ordinary equity holders of parent | |||
Profit attributable to ordinary equity holders of the parent from continuing operations | € 3,132 | € 2,369 | € 616 |
Adjustment for the net coupon corresponding to undated deeply subordinated securities | (277) | (257) | (250) |
Adjustment for the financial expense of the debt component of the mandatorily convertible notes | 1 | 1 | 2 |
Total profit attributable to ordinary equity holders of the parent for basic and diluted earnings per share from continuing operations | € 2,856 | € 2,113 | € 368 |
Number of shares | |||
Weighted average number of ordinary shares (excluding treasury shares) for basic earnings per share | 5,110,188 | 4,909,254 | 4,931,472 |
Adjustment for mandatorily convertible notes (in shares) | 0 | 151,265 | 139,116 |
Adjusted number of shares for basic earnings per share (excluding treasury shares) | 5,110,188 | 5,060,519 | 5,070,588 |
Telefónica, S.A. share option plans (in shares) | 0 | 2,716 | 5,093 |
Weighted average number of ordinary shares outstanding for diluted earnings per share | 5,110,188 | 5,063,235 | 5,075,681 |
Revenue and Expenses - Earnings
Revenue and Expenses - Earnings Per Share (Details) - € / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Analysis of income and expense [abstract] | |||
Basic earnings per share (in euros per share) | € 0.56 | € 0.42 | € 0.07 |
Diluted earnings per share (in euros per share) | € 0.56 | € 0.42 | € 0.07 |
Share-Based Payment Plans - Nar
Share-Based Payment Plans - Narrative (Details) | Sep. 30, 2017EUR (€)shares | Oct. 01, 2015shares | Jun. 30, 2015shares | Oct. 01, 2014EUR (€)shares | May 30, 2014EUR (€)phaseshares | Jul. 01, 2013EUR (€) | Jul. 01, 2012EUR (€)shares | Jul. 01, 2011EUR (€)shares | May 18, 2011phase | Aug. 31, 2017EUR (€)employeeshares | Dec. 31, 2017shares |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Percentage of total shareholder return | 77.00% | ||||||||||
Performance and Investment Plan | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Award vesting period | 5 years | 5 years | |||||||||
Number of independent phases | phase | 3 | 3 | |||||||||
Number of shares assigned (in shares) | 6,775,445 | 6,927,953 | 7,020,473 | 7,347,282 | 5,545,628 | ||||||
Fair value of shares assigned (in euros per share) | € | € 6.82 | € 6.40 | € 5.87 | € 8.28 | |||||||
Percentage of total shareholder return | 77.00% | ||||||||||
Number of shares outstanding (in shares) | 5,021,426 | 3,691,582 | |||||||||
Number of equity instruments withheld (in shares) | 966,883 | ||||||||||
Global Employee Share Plan | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Maximum amount of shares an employee is allowed to purchase | € | € 1,800,000 | ||||||||||
Minimum amount an employee can expend to purchase shares | € | € 300 | ||||||||||
Number of shares to be received (in shares) | 1 | 3,187,055 | |||||||||
Number of employees registered | employee | 27,018 | ||||||||||
Value of rewarded shares | € | € 33,000,000 | ||||||||||
Talent for the Future Share Plan | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Award vesting period | 5 years | ||||||||||
Number of independent phases | phase | 3 | ||||||||||
Number of shares assigned (in shares) | 556,795 | 618,000 | |||||||||
Fair value of shares assigned (in euros per share) | € | € 6.82 | ||||||||||
Number of shares outstanding (in shares) | 553,500 | ||||||||||
Group Executives | Performance and Investment Plan | |||||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||||||
Number of shares assigned (in shares) | 2,724,699 |
Share-Based Payment Plans - Sch
Share-Based Payment Plans - Schedule of Number of Shares Assigned and Outstanding (Details) | Sep. 30, 2017shares | Oct. 01, 2015EUR (€)shares | Oct. 01, 2014shares | Jul. 01, 2013 | Jul. 01, 2012shares | Jul. 01, 2011shares | Dec. 31, 2017shares | Jun. 30, 2015shares |
Performance and Investment Plan | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
No. of shares assigned (in shares) | 6,775,445 | 6,927,953 | 7,020,473 | 7,347,282 | 5,545,628 | |||
Outstanding shares (in shares) | 5,021,426 | 3,691,582 | ||||||
Unit fair value | € | € 6.46 | |||||||
Talent for the Future Share Plan | ||||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||||
No. of shares assigned (in shares) | 556,795 | 618,000 | ||||||
Outstanding shares (in shares) | 553,500 | |||||||
Unit fair value | € | € 6.46 |
Cash Flow Analysis - Operating
Cash Flow Analysis - Operating Activities (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Flow Statement [Abstract] | |||
Cash received from operations | € 63,456 | € 63,514 | € 67,582 |
Cash paid from operations | (46,929) | (47,384) | (50,833) |
Cash paid to suppliers | (40,508) | (40,831) | (43,650) |
Cash paid to employees | (5,725) | (5,815) | (6,462) |
Payments related to cancellation of commitments | (696) | (738) | (721) |
Net payments of interest and other financial expenses net of dividends received | (1,726) | (2,143) | (2,445) |
Net interest and other financial expenses paid | (1,755) | (2,187) | (2,490) |
Dividends received | 29 | 44 | 45 |
Taxes paid | (1,005) | (649) | (689) |
Net cash flow provided by operating activities | € 13,796 | € 13,338 | € 13,615 |
Cash received from operations, percent change | (0.10%) | (6.00%) | |
Cash paid from operations, percent change | (1.00%) | (6.80%) | |
Cash paid to suppliers, percent change | (0.80%) | (6.50%) | |
Cash paid to employees, percent change | (1.50%) | (10.00%) | |
Payments related to cancellation of commitments, percent change | (5.70%) | 2.40% | |
Net payments of interest and other financial expenses net of dividends received, percent change | (19.50%) | (12.40%) | |
Net interest and other financial expenses paid, percent change | (19.80%) | (12.20%) | |
Dividends received, percent change | (34.10%) | (2.20%) | |
Taxes paid, percent change | 54.90% | (5.80%) | |
Net cash flow provided by operating activities, percent change | 3.40% | (2.00%) | |
Increase in income taxes paid, classified as operating activities | € 356 |
Cash Flow Analysis - Investing
Cash Flow Analysis - Investing Activities (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Flow Statement [Abstract] | |||
Net cash flow used in investing activities | € 10,245 | € 8,208 | € 12,917 |
Net cash flow used in investing activities, percent change | (24.80%) | 36.50% | |
Proceeds from the sale in property, plant and equipment and intangible assets | € 148 | € 134 | 254 |
Payments on investments in property, plant and equipment and intangible assets | (9,140) | (9,321) | (10,510) |
(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, net | € (8,992) | € (9,187) | € (10,256) |
Proceeds from the sale in property, plant and equipment and intangible assets, percent change | 10.40% | (47.20%) | |
Payments on investments in property, plant and equipment and intangible assets, percent change | (2.00%) | (11.30%) | |
(Payments on investments)/proceeds from the sale in property, plant and equipment and intangible assets, percent change | (2.10%) | (10.40%) | |
Spectrum license payments | € 352 | € 349 | |
Gains (losses) on litigation settlements | € 317 |
Cash Flow Analysis - Investi181
Cash Flow Analysis - Investing Activities, Proceeds and Payments on Companies (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | € 40 | € 767 | € 354 |
Payments on investments in companies, net of cash and cash equivalents acquired | (128) | (54) | (3,181) |
DTS | |||
Continuing And Discontinued Operations [Line Items] | |||
Payments on investments in companies, net of cash and cash equivalents acquired | 0 | (36) | (697) |
GVT | |||
Continuing And Discontinued Operations [Line Items] | |||
Payments on investments in companies, net of cash and cash equivalents acquired | 0 | 0 | (2,450) |
E-Plus | |||
Continuing And Discontinued Operations [Line Items] | |||
Payments on investments in companies, net of cash and cash equivalents acquired | (85) | 0 | 0 |
Minodes GmbH | |||
Continuing And Discontinued Operations [Line Items] | |||
Payments on investments in companies, net of cash and cash equivalents acquired | (9) | 0 | 0 |
Co-trade GmbH | |||
Continuing And Discontinued Operations [Line Items] | |||
Payments on investments in companies, net of cash and cash equivalents acquired | (20) | 0 | 0 |
Other companies | |||
Continuing And Discontinued Operations [Line Items] | |||
Payments on investments in companies, net of cash and cash equivalents acquired | (14) | (18) | (34) |
Televisión Federal S.A.- TELEFE Provision and operation TV and radio broadcasting-services | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 306 | 0 |
Telefónica United Kingdom | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 399 | 0 |
Yourfone GmbH | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 0 | 57 |
Telefónica Czech Republic, a.s. | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 0 | 0 | 313 |
China Unicom Broadband Online Limited Corp. | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | 28 | 2 | 0 |
Other companies | |||
Continuing And Discontinued Operations [Line Items] | |||
Proceeds on disposals of companies, net of cash and cash equivalents disposed | € 12 | € 60 | € (16) |
Cash Flow Analysis - Investi182
Cash Flow Analysis - Investing Activities, Proceeds and Payments on Financial Investments (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | € 296 | € 489 | € 1,142 |
Payments on financial investments not included under cash equivalents | (1,106) | (265) | (426) |
Legal deposits | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | (75) | (104) | (86) |
Mediaset Premium | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | 0 | (20) | (100) |
Telco, S.p.A. | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | 0 | 0 | (60) |
Long-term deposits | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | (150) | 0 | 0 |
Collateral guarantees on derivatives | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | (709) | 0 | 0 |
Other Investments | |||
Disclosure of associates [line items] | |||
Payments on financial investments not included under cash equivalents | (172) | (141) | (180) |
Indra | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 0 | 85 | 0 |
China Unicom Broadband Online Limited Corp. | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 72 | 322 | 0 |
Telecom Italia S.p.A. | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 0 | 0 | 1,025 |
Telecom Italia's bond | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | 49 | 0 | 0 |
Other Associates | |||
Disclosure of associates [line items] | |||
Proceeds on financial investments not included under cash equivalents | € 175 | € 82 | € 117 |
Cash Flow Analysis - Financing
Cash Flow Analysis - Financing Activities, Dividends and Shares (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Dividends [Line Items] | |||
Net cash flow used in financing activities | € 1,752 | € 4,220 | € 3,612 |
Net cash flow used in financing activities, change (as a percent) | 58.50% | 16.80% | |
Dividends paid | € (2,459) | € (2,906) | (2,775) |
Proceeds from share capital increase | 2 | 0 | 4,255 |
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | 1,269 | (660) | (1,772) |
Operations with other equity holders | 646 | 656 | 83 |
Undated deeply subordinated securities | |||
Dividends [Line Items] | |||
Operations with other equity holders | 1,000 | 1,000 | 419 |
Coupon related to undated deeply subordinated securities | |||
Dividends [Line Items] | |||
Operations with other equity holders | (354) | (344) | (336) |
Telefonica Brasil S.A. | |||
Dividends [Line Items] | |||
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | 0 | 0 | (24) |
Telefonica, S.A. | |||
Dividends [Line Items] | |||
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | 0 | (645) | (1,615) |
Telefónica Deutschland Holding, A.G. | |||
Dividends [Line Items] | |||
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | 0 | 0 | (133) |
Telxius Telecom, S.A. | |||
Dividends [Line Items] | |||
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | 1,275 | 0 | 0 |
Others | |||
Dividends [Line Items] | |||
Proceeds/(payments) of treasury shares and other operations with shareholders and with minority interests | (6) | (15) | 0 |
Telefonica Brasil S.A. | |||
Dividends [Line Items] | |||
Proceeds from share capital increase | 0 | 0 | 1,258 |
Others | |||
Dividends [Line Items] | |||
Proceeds from share capital increase | 2 | 0 | (51) |
Ordinary shares | |||
Dividends [Line Items] | |||
Proceeds from share capital increase | 0 | 0 | 3,048 |
Dividends paid by Telefonica, S.A. | |||
Dividends [Line Items] | |||
Dividends paid | (1,904) | (2,395) | (2,237) |
Non-controlling interests in Telefonica Brasil, S.A. | |||
Dividends [Line Items] | |||
Dividends paid | (290) | (216) | (239) |
Non-controlling interests of Telefonica Deutschland | |||
Dividends [Line Items] | |||
Dividends paid | (229) | (263) | (267) |
Noncontrolling interest of Telefonica Centroamerica | |||
Dividends [Line Items] | |||
Dividends paid | (23) | (27) | (28) |
Other Dividends | |||
Dividends [Line Items] | |||
Dividends paid | € (13) | € (5) | € (4) |
Cash Flow Analysis - Financi184
Cash Flow Analysis - Financing Activities, Debt (Details) - EUR (€) € in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds, and other debts | € 8,390 | € 5,693 | € 1,602 |
Proceeds on loans, borrowings and promissory notes | 4,844 | 10,332 | 8,784 |
Cancellation of debentures and bonds, and other debts | (6,687) | (6,873) | (3,805) |
Repayments of loans, borrowings and promissory notes | (6,711) | (8,506) | (9,858) |
Financed spectrum licenses payments | (329) | (198) | (121) |
Payments to suppliers with extended payment terms | (717) | (1,758) | (5) |
Financed operating payments and investments in property, plant and equipment and intangible assets payments | (1,046) | (1,956) | (126) |
Syndicated facility due February 15, 2019 | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 3,070 | 0 |
Notional amount | 3,000 | ||
Repayments of loans, borrowings and promissory notes | 0 | (3,070) | 0 |
Syndicated facility due February 19, 2022 | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 0 | 2,060 |
Notional amount | 2,500 | ||
Repayments of loans, borrowings and promissory notes | (550) | 0 | (1,560) |
Syndicated facility due February 18, 2021 | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 1,280 | 1,890 |
Notional amount | 3,000 | ||
Repayments of loans, borrowings and promissory notes | 0 | (1,980) | (1,190) |
Local market Debt Issued by Telefonica Germany GmbH & Co OHG | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 0 | 0 | 300 |
Structured financing | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 750 | 0 | 0 |
Syndicated loan of Telefonica Germany | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 650 | 0 | 0 |
Loans paid by GVT | |||
Disclosure of fair value measurement of equity [line items] | |||
Repayments of loans, borrowings and promissory notes | 0 | (93) | (1,766) |
Tranche A2 | |||
Disclosure of fair value measurement of equity [line items] | |||
Notional amount | 750 | ||
Repayments of loans, borrowings and promissory notes | (700) | 0 | 0 |
Others | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on loans, borrowings and promissory notes | 3,444 | 5,982 | 4,534 |
Repayments of loans, borrowings and promissory notes | (5,461) | (3,363) | (5,342) |
Telefonica Emisiones EMTN Bond | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds, and other debts | 3,517 | 4,900 | 1,467 |
Telefonica Participaciones Convertible Debentures | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds, and other debts | 0 | 600 | 0 |
Telefonica Emisiones Shelf Program | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds, and other debts | 3,335 | 0 | 0 |
Equity Instrument Mandatorily Convertible into Telecom Italia, S.p.A Shares | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds, and other debts | 756 | 0 | 0 |
Other equity instruments | |||
Disclosure of fair value measurement of equity [line items] | |||
Proceeds on issue of debentures and bonds, and other debts | € 782 | € 193 | € 135 |
Other Information - Narrative (
Other Information - Narrative (Details) CZK in Millions, BRL in Millions, ARS in Millions, $ in Millions | May 08, 2015USD ($) | Apr. 11, 2013EUR (€) | Oct. 31, 2017 | Dec. 31, 2017EUR (€) | Dec. 31, 2017BRL | Dec. 31, 2017ARS | Sep. 21, 2017 | Aug. 05, 2016EUR (€) | Aug. 05, 2016CZK | Mar. 01, 2016EUR (€) | Dec. 31, 2015EUR (€) | Jan. 23, 2013EUR (€) |
Disclosure of contingent liabilities [line items] | ||||||||||||
Framework Investment Agreement, payment obligation terms, percent of increase in EBITDA | 5.75% | |||||||||||
Framework Investment Agreement, payment obligation terms, percent of capital investments exceeding revenues | 32.50% | |||||||||||
Share purchase agreement, price of settlement | € 22,000,000 | |||||||||||
Services agreement amount | € 450,000,000 | |||||||||||
Proportion of entity having Environmental Management Systems (EMS) | 90.00% | 90.00% | 90.00% | |||||||||
Targeted proportion of entity having Environmental Management Systems (EMS) | 100.00% | 100.00% | 100.00% | |||||||||
Directors' remuneration expense | € 3,277,934 | |||||||||||
Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Total | € 1,923,100 | |||||||||||
Proportionate increase (decrease) in compensation from prior year | 13.80% | |||||||||||
Board of Directors | Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Total | € 240,000 | |||||||||||
Executive Commission | Mr. Jose Maria Alvarez-Pallete Lopez, Executive Chairman | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Total | € 80,000 | |||||||||||
Telefonica Open Future, SLU | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Contractual capital commitments | $ | $ 200 | |||||||||||
Contractual Capital Commitment Period | 7 years | |||||||||||
Maximum | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Directors' remuneration expense | € 6,000,000 | |||||||||||
Legal proceedings contingent liability | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Proportion of interconnection revenues from contingent legal claim | 1.00% | 1.00% | 1.00% | |||||||||
Estimated financial effect of contingent liabilities | € 67,000,000 | |||||||||||
Legal proceedings contingent liability | Venten Management Limited | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Estimated financial effect of contingent liabilities | € 23,000,000 | CZK 644 | ||||||||||
Legal proceedings contingent liability | Lexburg Enterprises Limited | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Estimated financial effect of contingent liabilities | € 8,000,000 | CZK 227 | ||||||||||
Legal proceedings contingent liability | Entel | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Estimated financial effect of contingent liabilities | € 71,000,000 | ARS 1,744 | ||||||||||
Interest rate set on legal proceedings contingent liability | 8.00% | |||||||||||
Legal proceedings contingent liability | Maximum | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Estimated financial effect of contingent liabilities | 225,000,000 | BRL 1,000 | ||||||||||
Legal proceedings contingent liability | Minimum | ||||||||||||
Disclosure of contingent liabilities [line items] | ||||||||||||
Estimated financial effect of contingent liabilities | € 13,000,000 | BRL 60 |
Other Information - Auditors' F
Other Information - Auditors' Fees (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Ernst & Young | ||
Auditors Remuneration [Line Items] | ||
Audit services | € 18,330 | € 23,370 |
Audit-related services | 490 | 3,100 |
Tax services | 200 | 0 |
All other services (consulting, advisory, etc.) | 760 | 0 |
Total | 19,780 | 26,470 |
Other Auditors | ||
Auditors Remuneration [Line Items] | ||
Audit services | 2,800 | 940 |
Audit-related services | 480 | 2,690 |
Tax services | 5,750 | 8,560 |
All other services (consulting, advisory, etc.) | 31,470 | 22,660 |
Total | € 40,500 | € 34,850 |
Other Information - Executive C
Other Information - Executive Compensation (Details) | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Chairman | |
Disclosure of transactions between related parties [line items] | |
Total | € 1,923,100 |
Board of Directors | Chairman | |
Disclosure of transactions between related parties [line items] | |
Total | 240,000 |
Board of Directors | Vice chairman | |
Disclosure of transactions between related parties [line items] | |
Total | 200,000 |
Board of Directors | Executive Member | |
Disclosure of transactions between related parties [line items] | |
Total | 0 |
Board of Directors | Proprietary Member | |
Disclosure of transactions between related parties [line items] | |
Total | 120,000 |
Board of Directors | Independent Member | |
Disclosure of transactions between related parties [line items] | |
Total | 120,000 |
Board of Directors | Other external | |
Disclosure of transactions between related parties [line items] | |
Total | 120,000 |
Executive Commission | Chairman | |
Disclosure of transactions between related parties [line items] | |
Total | 80,000 |
Executive Commission | Vice chairman | |
Disclosure of transactions between related parties [line items] | |
Total | 80,000 |
Executive Commission | Executive Member | |
Disclosure of transactions between related parties [line items] | |
Total | 0 |
Executive Commission | Proprietary Member | |
Disclosure of transactions between related parties [line items] | |
Total | 80,000 |
Executive Commission | Independent Member | |
Disclosure of transactions between related parties [line items] | |
Total | 80,000 |
Executive Commission | Other external | |
Disclosure of transactions between related parties [line items] | |
Total | 80,000 |
Advisory or Control Committees | Chairman | |
Disclosure of transactions between related parties [line items] | |
Total | 22,400 |
Advisory or Control Committees | Vice chairman | |
Disclosure of transactions between related parties [line items] | |
Total | 0 |
Advisory or Control Committees | Executive Member | |
Disclosure of transactions between related parties [line items] | |
Total | 0 |
Advisory or Control Committees | Proprietary Member | |
Disclosure of transactions between related parties [line items] | |
Total | 11,200 |
Advisory or Control Committees | Independent Member | |
Disclosure of transactions between related parties [line items] | |
Total | 11,200 |
Advisory or Control Committees | Other external | |
Disclosure of transactions between related parties [line items] | |
Total | € 11,200 |
Finance Leases - Lessee (Detail
Finance Leases - Lessee (Details) € in Millions | Dec. 31, 2017EUR (€) | Sep. 27, 2017 | Aug. 29, 2017EUR (€) | Aug. 29, 2017COP |
Telefónica Brazil | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | € 98 | |||
Revaluation | 101 | |||
Pending payment | 199 | |||
Net assets under finance lease agreements | 71 | |||
Telefónica Brazil | Within one year | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 13 | |||
Revaluation | 2 | |||
Pending payment | 15 | |||
Telefónica Brazil | From one to five years | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 37 | |||
Revaluation | 14 | |||
Pending payment | 51 | |||
Telefónica Brazil | More than 5 years | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 48 | |||
Revaluation | 85 | |||
Pending payment | 133 | |||
Telefónica Spain | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 111 | |||
Revaluation | 4 | |||
Pending payment | 115 | |||
Telefónica Spain | Within one year | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 79 | |||
Revaluation | 3 | |||
Pending payment | 82 | |||
Telefónica Spain | From one to five years | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 32 | |||
Revaluation | 1 | |||
Pending payment | 33 | |||
Telefónica Germany | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 33 | |||
Revaluation | 1 | |||
Pending payment | 34 | |||
Net assets under finance lease agreements | 124 | |||
Telefónica Germany | Within one year | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 18 | |||
Revaluation | 1 | |||
Pending payment | 19 | |||
Telefónica Germany | From one to five years | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 15 | |||
Revaluation | 0 | |||
Pending payment | 15 | |||
Colombia Telecomunicaciones, S.A., ESP | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Percentage of payment obligations assumed by government | 32.50% | |||
Present value | 1,275 | € 1,236 | COP 4,290,992 | |
Revaluation | 1,167 | |||
Pending payment | 2,442 | |||
Colombia Telecomunicaciones, S.A., ESP | Within one year | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 152 | |||
Revaluation | 9 | |||
Pending payment | 161 | |||
Colombia Telecomunicaciones, S.A., ESP | From one to five years | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 517 | |||
Revaluation | 207 | |||
Pending payment | 724 | |||
Colombia Telecomunicaciones, S.A., ESP | More than 5 years | ||||
Disclosure of finance lease and operating lease by lessee [line items] | ||||
Present value | 606 | |||
Revaluation | 951 | |||
Pending payment | € 1,557 |
Finance Leases - Lessor (Detail
Finance Leases - Lessor (Details) € in Millions | Dec. 31, 2017EUR (€) |
Telefónica Brazil | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | € 101 |
Revaluation | 8 |
Pending receivables | 109 |
Accumulated allowance | (39) |
Total after accumulated allowance | 62 |
Telefónica Brazil | Within one year | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 58 |
Revaluation | 0 |
Pending receivables | 58 |
Telefónica Brazil | From one to five years | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 43 |
Revaluation | 8 |
Pending receivables | 51 |
Telefónica Spain | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 118 |
Revaluation | 0 |
Pending receivables | 118 |
Telefónica Spain | Within one year | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 71 |
Revaluation | 0 |
Pending receivables | 71 |
Telefónica Spain | From one to five years | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 47 |
Revaluation | 0 |
Pending receivables | 47 |
Telefónica Germany | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 8 |
Revaluation | 0 |
Pending receivables | 8 |
Accumulated allowance | (2) |
Total after accumulated allowance | 6 |
Telefónica Germany | Within one year | |
Disclosure of finance lease and operating lease by lessor [line items] | |
Present value | 8 |
Revaluation | 0 |
Pending receivables | € 8 |
Events After the Reporting P190
Events After the Reporting Period (Details) £ in Millions, $ in Millions | Feb. 02, 2018GBP (£) | Jan. 22, 2018EUR (€) | Jan. 11, 2018EUR (€) | Jan. 30, 2018EUR (€) | Jan. 26, 2018EUR (€) | Jan. 26, 2018USD ($) | Jan. 23, 2018EUR (€) | Dec. 31, 2017EUR (€) |
Syndicated credit facility due March 22, 2023 | Telefónica Germany GmbH & Co. OHG | ||||||||
Entity Information [Line Items] | ||||||||
Notional amount | € 750,000,000 | |||||||
Syndicated Facility Due in 2022 | ||||||||
Entity Information [Line Items] | ||||||||
Notional amount | € 2,500,000,000 | |||||||
Entering into significant commitments | Telefonica Deutschland Holding A.G. | ||||||||
Entity Information [Line Items] | ||||||||
Proceeds from issuance of debt | € 200,000,000 | |||||||
Maturity | P15Y | |||||||
Entering into significant commitments | Telefónica Emisiones, S.A.U. | ||||||||
Entity Information [Line Items] | ||||||||
Proceeds from issuance of debt | € 1,000,000,000 | |||||||
Interest rate (as a percent) | 1.447% | |||||||
Payments to redeem notes | £ | £ 750 | |||||||
Entering into significant commitments | Bilateral loan | Telefonica, S.A. | ||||||||
Entity Information [Line Items] | ||||||||
Loans received | € 100,000,000 | € 100,000,000 | € 385,000,000 | |||||
Entering into significant commitments | Syndicated Facility Due in 2022 | Telxius Telecom, S.A. | ||||||||
Entity Information [Line Items] | ||||||||
Loans received | € 221,000,000 | $ 75 |
Appendix I_ Scope of Consoli191
Appendix I: Scope of Consolidation - Main Consolidated Companies of the Telefonica Group (Details) € in Millions, £ in Millions, VEF in Millions, UYU in Millions, PEN in Millions, NIO in Millions, MXN in Millions, GTQ in Millions, COP in Millions, CLP in Millions, BRL in Millions, ARS in Millions, $ in Millions | Feb. 28, 2017 | Mar. 31, 2017 | Dec. 31, 2017EUR (€) | Dec. 31, 2017COP | Dec. 31, 2017PEN | Dec. 31, 2017BRL | Dec. 31, 2017GBP (£) | Dec. 31, 2017USD ($) | Dec. 31, 2017VEF | Dec. 31, 2017ARS | Dec. 31, 2017UYU | Dec. 31, 2017CLP | Dec. 31, 2017GTQ | Dec. 31, 2017NIO | Dec. 31, 2017MXN | Dec. 31, 2016EUR (€) | Dec. 31, 2015EUR (€) | Dec. 31, 2014EUR (€) |
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 26,618 | € 28,385 | € 25,436 | € 30,321 | ||||||||||||||
Telefónica de España, S.A.U. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1,024 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles España, S.A.U. Wireless communications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 209 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Acens Technologies, S.L. Holding housing and telecommunications solutions Service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 23 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Teleinformática y Comunicaciones, S.A.U. (Telyco) Promotion, marketing and distribution of telephone and telematic equipment and services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 8 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Soluciones de Informática y Com. de España S.A.U. Telecommunications systems, networks and infrastructure engineering | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 2 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Soluciones de Outsourcing, S.A. Promotion and networks management | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Servicios Integrales de Distribución S.A.U. Logistic service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 2 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
DTS Distribuidora de Televisión Digital, S.A. Broacasting satellite TV signal transmission and linkage services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 80 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Servicios Audiovisuales, S.A.U. Provision of all type of audiovisual telecommunications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 6 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Broadcast Services, S.L.U. DSNG-based transmission and operation services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Europe plc Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | £ 9 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Europe plc Holding company | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica Europe plc Holding company | Telefonica Capital S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
MmO2 plc Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 20 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
MmO2 plc Holding company | O2 Secretaries Ltd | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
MmO2 plc Holding company | Telefonica Europe plc | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
O2 Holdings Ltd Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 12 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica United Kingdom Ltd. Wireless communications | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 10 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Giffgaff Ltd Wireless communications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
O2 Networks Ltd. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Cornerstone Telecomunications Network sharing | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Cornerstone Telecomunications Network sharing | O2 Networks | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 40.00% | |||||||||||||||||
Cornerstone Telecomunications Network sharing | O2 Cedar Ltd | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 10.00% | |||||||||||||||||
Telefónica Deutschland Holding A.G Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 2,975 | |||||||||||||||||
%Telefónica Group | 63.20% | 69.20% | 69.22% | |||||||||||||||
Telefónica Germany GmbH & Co. OHG Wireless communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 51 | |||||||||||||||||
%Telefónica Group | 69.22% | |||||||||||||||||
Telefónica Germany GmbH & Co. OHG Wireless communications services operator | Telefonica Deutschland Holding A.G. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 69.21% | |||||||||||||||||
Telefónica Germany GmbH & Co. OHG Wireless communications services operator | T Germany Management GmbH | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
E-Plus Services GmbH Wireless communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 288 | |||||||||||||||||
%Telefónica Group | 69.22% | |||||||||||||||||
Telefónica Germany Next GmbH Technological and consulting services in Big Data provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 69.22% | |||||||||||||||||
Minodes GmbH Technological and consulting services in Big Data provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 69.22% | |||||||||||||||||
Co-Trade GmbH Technological services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 69.22% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | BRL 63,571 | |||||||||||||||||
%Telefónica Group | 73.68% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 29.77% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 24.18% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | Sao Paulo Telecomunicacoes Participacoes Ltda | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 19.67% | |||||||||||||||||
Telefônica Brasil, S.A. Wireline telephony operator | Telefonica Chile | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.06% | |||||||||||||||||
Terra Networks Brasil, S.A. ISP and portal | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | ARS | ARS 1,097 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.52% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 17.54% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.80% | |||||||||||||||||
Telefónica de Argentina, S.A. Telecommunications service provider | Telefonica Moviles Argentina S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 80.14% | |||||||||||||||||
Telefonica Moviles Argentina Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | ARS | 278 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Moviles Argentina Holding | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 73.20% | |||||||||||||||||
Telefonica Moviles Argentina Holding | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 25.28% | |||||||||||||||||
Telefonica Moviles Argentina Holding | Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.52% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | VEF | VEF 2,368,408 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.09% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | Latin American Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 97.04% | |||||||||||||||||
Telefónica Venezolana, C.A. Wireless communications operator | Comtel Comunicaciones Telefonica | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 2.87% | |||||||||||||||||
Telefónica Móviles Chile, S.A. Wireless communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | CLP | CLP 1,257,872 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles Chile, S.A. Wireless communications services operator | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.13% | |||||||||||||||||
Telefónica Móviles Chile, S.A. Wireless communications services operator | Inversiones Telefónica Móviles Holding Limitada | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 98.87% | |||||||||||||||||
Telefonica Chile | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | CLP | 570,535 | |||||||||||||||||
%Telefónica Group | 99.14% | |||||||||||||||||
Telefonica del Peru | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | PEN | PEN 2,954 | |||||||||||||||||
%Telefónica Group | 98.57% | |||||||||||||||||
Telefonica del Peru | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.26% | |||||||||||||||||
Telefonica del Peru | Latin American Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 48.31% | |||||||||||||||||
Colombia Telecomunicaciones, S.A. ESP Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | COP | COP 3,410 | |||||||||||||||||
%Telefónica Group | 67.50% | |||||||||||||||||
Colombia Telecomunicaciones, S.A. ESP Communications services operator | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 7.90% | |||||||||||||||||
Colombia Telecomunicaciones, S.A. ESP Communications services operator | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 51.52% | |||||||||||||||||
Colombia Telecomunicaciones, S.A. ESP Communications services operator | Latin American Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 8.08% | |||||||||||||||||
Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | COP | 83,191 | |||||||||||||||||
%Telefónica Group | 63.77% | |||||||||||||||||
Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Communications services operator | Colombia Telecomunicaciones, S.A, ESP | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 35.71% | |||||||||||||||||
Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Communications services operator | Metropolitana de Telecomunicaciones S.A E.S.P Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 28.06% | |||||||||||||||||
Metropolitana de Telecomunicaciones S.A E.S.P Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | COP | 50,212 | |||||||||||||||||
%Telefónica Group | 59.03% | |||||||||||||||||
Metropolitana de Telecomunicaciones S.A E.S.P Communications services operator | Colombia Telecomunicaciones, S.A, ESP | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 30.89% | |||||||||||||||||
Metropolitana de Telecomunicaciones S.A E.S.P Communications services operator | Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 28.14% | |||||||||||||||||
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | COP | 2,330 | |||||||||||||||||
%Telefónica Group | 60.93% | |||||||||||||||||
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | Metropolitana de Telecomunicaciones S.A E.S.P Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 36.56% | |||||||||||||||||
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Communications services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 24.37% | |||||||||||||||||
Telefónica Móviles México, S.A. de C.V. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | MXN 88,834 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles del Uruguay, S.A. Wireless communications and services operator | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | UYU | UYU 1,107 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Móviles Panamá, S.A. Wireless telephony services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 45 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telefónica Móviles El Salvador, S.A. de C.V. Provision of wireless and international long distance communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 42 | |||||||||||||||||
%Telefónica Group | 59.58% | |||||||||||||||||
Telefónica Móviles El Salvador, S.A. de C.V. Provision of wireless and international long distance communications services | Telefonica Centroamericana Inversiones | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.46% | |||||||||||||||||
Telefónica Móviles El Salvador, S.A. de C.V. Provision of wireless and international long distance communications services | Telefonica Multiservicios | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.12% | |||||||||||||||||
Telefónica Móviles Guatemala, S.A. Wireless, wireline and radio paging communications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | GTQ | GTQ 1,396 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telefónica Móviles Guatemala, S.A. Wireless, wireline and radio paging communications services provider | Telefonica Centroamericana Inversiones | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telefónica Móviles Guatemala, S.A. Wireless, wireline and radio paging communications services provider | Guatemala Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.99% | |||||||||||||||||
Telefonía Celular de Nicaragua, S.A. Wireless telephony services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | NIO | NIO 247 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telefonía Celular de Nicaragua, S.A. Wireless telephony services | Telefonica Centroamericana Inversiones | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.99% | |||||||||||||||||
Telefonía Celular de Nicaragua, S.A. Wireless telephony services | Guatemala Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Otecel, S.A. Wireless communications services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 183 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica de Costa Rica TC, S.A. Wireless communications | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 203,511 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Terra Networks Perú, S.A. ISP and portal | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | PEN | 10 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Terra Networks México, S.A. de C.V. ISP, portal and real-time financial information services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | 305 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Terra Networks Argentina, S.A. ISP and portal | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | ARS | 7 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Terra Networks Argentina, S.A. ISP and portal | Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Terra Networks Argentina, S.A. ISP and portal | Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
O2 International Holdings Ltd. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Germany Holdings Ltd. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
O2 (Europe) Ltd. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1,239 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica International Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Latinoamerica Holding | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 237 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telxius Telecom, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 250 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 429 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable España, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 5 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable República Dominicana, S.A.S. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable República Dominicana, S.A.S. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.40% | |||||||||||||||||
Telxius Cable República Dominicana, S.A.S. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable España, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.60% | |||||||||||||||||
Telxius Cable Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 78 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.96% | |||||||||||||||||
Telxius Cable Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable España, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.04% | |||||||||||||||||
Telxius Cable Panamá, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Puerto Rico, Inc. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 24 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable USA, Inc. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 58 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Ecuador, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 5 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Ecuador, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.99% | |||||||||||||||||
Telxius Cable Ecuador, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable Perú, S.A.C. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telxius Cable Chile, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 37 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Guatemala, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 16 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Perú, S.A.C. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 20 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Colombia, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 4 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Colombia, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable América, S.A. Provision of high bandwidth communications services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 56.99% | |||||||||||||||||
Telxius Cable Colombia, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable Chile, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.00% | |||||||||||||||||
Telxius Cable Colombia, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable Guatemala, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 1.00% | |||||||||||||||||
Telxius Cable Colombia, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Cable Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telxius Cable Brasil Participaçoes, Ltda. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 62 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Cable Brasil, Ltda. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 74 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Latam, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 8 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres España, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 10 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Towers Germany, Gmbh. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Perú S.A.C. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | PEN | 104 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Chile Holding, S.A. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 8 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Chile Holding, S.A. Holding company | Telxius Torres Latam, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 59.99% | |||||||||||||||||
Telxius Torres Chile Holding, S.A. Holding company | Telxius Torres España, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.01% | |||||||||||||||||
Telxius Torres Chile, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | CLP | CLP 7,770 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Brasil, Ltda. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | 764 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | ARS | 629 | |||||||||||||||||
%Telefónica Group | 60.00% | |||||||||||||||||
Telxius Torres Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Torres Latam, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 57.00% | |||||||||||||||||
Telxius Torres Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | Telxius Telecom, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 3.00% | |||||||||||||||||
Latin American Cellular Holdings | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica International Wholesale Services II, S.L. International services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 231 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica International Wholesale Services México, S.A. Telecommunications research activities and proyects | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | 31 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Digital España, S.L. Developer Telco Services Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 15 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Investigación y Desarrollo S.L. Talent identification and development in ICT. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 2 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Digital Inc. IP telephony platform | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Chile Tecnología e Innovación Limitada Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | 28,223 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Brasil Aceleradora de Projetos Ltda. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | 39 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
WY Telecom, S.A. de C.V. Talent identification and development in ICT | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | 140 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Argentina, S.A. Talent identification and development in ICT | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | ARS | ARS 56 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Colombia, S.A.S. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | COP | COP 2,400 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Proyecto Wayra, C.A. Commercial, industrial and mercantile activities | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | VEF | VEF 13,805 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra Perú Aceleradora de Proyectos, S.A.C. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | PEN | 18 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Wayra UK Ltd. Technological innovation based business project development | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Axonix Ltd Digital and mobile advertising | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | $ | $ 0 | |||||||||||||||||
%Telefónica Group | 78.00% | |||||||||||||||||
Telfisa Global, B.V. Integrated cash management, consulting and financial support for Group companies | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Global Activities Holding, B.V. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Global Services, GmbH Purchasing services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Global Roaming, GmbH Optimization of network traffic | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Group 3G UMTS Holding GmbH Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 250 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Compras Electrónicas, S.L. Development and provision of information Society services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica de Contenidos, S.A.U. Organization and operation of multimedia service-related business | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 226 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica On The Spot Services, S.A.U. Provision of telemarketing services | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Educación Digital, S.L. Vertical e learning portal | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telfin Ireland Ltd. Intragroup financing | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Ingeniería de Seguridad, S.A.U. Security services and systems | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 12 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Engenharia de Segurança do Brasil Ltda Security services and systems | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | 131 | |||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica Capital, S.A.U. Finance company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 7 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Lotca Servicios Integrales, S.L. Aircraft ownership and operation | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 17 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A Administration of pension funds | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 16 | |||||||||||||||||
%Telefónica Group | 70.00% | |||||||||||||||||
Fonditel Gestión, Soc. Gestora de Instituciones de Inversión Colectiva, S.A. Administration and representation of collective investment schemes | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 2 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Investigación y Desarrollo, S.A.U. Telecommunications research activities and projects | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 7 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Media Networks Latin America, S.A.C Telecommunications research activities and proyects | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | PEN | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Luxembourg Holding, S.à.r.L. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 3 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Casiopea Reaseguradora, S.A. Reinsurance | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 4 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Nova Casiopea RE S.A. Reinsurance | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 15 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Insurance, S.A. Direct insurance transactions | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 23 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Seguros de Vida y Pensiones Antares, S.A. Life insurance, pensions and health insurance | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 51 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefonica Finanzas | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 3 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Pléyade Peninsular, Correduría de Seguros y Reaseguros del Grupo Telefónica, S.A. Distribution, promotion or preparation of insurance contracts | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Pléyade Peninsular, Correduría de Seguros y Reaseguros del Grupo Telefónica, S.A. Distribution, promotion or preparation of insurance contracts | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 16.67% | |||||||||||||||||
Pléyade Peninsular, Correduría de Seguros y Reaseguros del Grupo Telefónica, S.A. Distribution, promotion or preparation of insurance contracts | Telefonica Finanzas | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 83.33% | |||||||||||||||||
Fisatel Mexico, S.A. de C.V. Integrated cash mangement, consulting and financial support for Group companies | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | 3,505 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Europe, B.V. Fund raising in capital markets | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Participaciones, S.A.U. Financial debt instrument issuer | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Emisiones, S.A.U. Financial debt instrument issuer | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Global Technology, S.A.U. Global management and operation of IT systems | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 16 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Aliança Atlântica Holding B.V. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 150 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Aliança Atlântica Holding B.V. Holding company | Telefonica, S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Aliança Atlântica Holding B.V. Holding company | Telefonica Brasil S.A. | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 50.00% | |||||||||||||||||
Telefónica Transportes e Logística Ltda. Logistics services rendered | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica Serviços Empresariais do BRASIL, Ltda. Management and administrative services rendered | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | BRL | BRL 35 | |||||||||||||||||
%Telefónica Group | 99.99% | |||||||||||||||||
Telefónica Gestión de Servicios Compartidos México, S.A. de C.V. Management and administrative services rendered | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | MXN | MXN 50 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Gestión Logística, S.A.C Logistic service provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | PEN | PEN 15 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Gestión Logística, S.A.C Logistic service provider | Telefónica Servicios Globales, S.L.U. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.49% | |||||||||||||||||
Telefónica Gestión Logística, S.A.C Logistic service provider | Telefonica del Peru | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.52% | |||||||||||||||||
Telefónica Gestión Integral de Edificios y Servicios S.L. Management and administrative services rendered | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Tempotel, Empresa de Trabajo Temporal, S.A. Temporary employment agency | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
O2 Worldwide Limited Wireless telecommunications activities | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | £ | £ 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Synergic Partners, S.L. Technological and consulting services in Big Data provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Innovación Alpha, S.L. Electronic communications and audiovisual services provider | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Chile Holdings, S.L. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Holding Atticus, B.V. Holding company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 0 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Servicios Globales, S.L.U. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
Capital | € 1 | |||||||||||||||||
%Telefónica Group | 100.00% | |||||||||||||||||
Telefónica Gestión de Servicios Compartidos Perú, S.A.C. Management and administrative services rendered | Telefónica Servicios Globales, S.L.U. Holding Company | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 99.48% | |||||||||||||||||
Telefónica Gestión de Servicios Compartidos Perú, S.A.C. Management and administrative services rendered | Telefonica del Peru | ||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||
%Telefónica Group | 0.52% |
Appendix I_ Scope of Consoli192
Appendix I: Scope of Consolidation - Equity Method Investments (Details) - 12 months ended Dec. 31, 2017 € in Millions, ¥ in Millions, £ in Millions, PEN in Millions, MXN in Millions, COP in Millions, BRL in Millions, $ in Millions | EUR (€) | COP | PEN | BRL | GBP (£) | USD ($) | CNY (¥) | MXN |
Telefónica Factoring España, S.A. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | € 5 | |||||||
%Telefónica Group | 50.00% | |||||||
Telefónica Factoring Do Brasil, Ltd. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | BRL | BRL 5 | |||||||
%Telefónica Group | 50.00% | |||||||
Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | MXN | MXN 34 | |||||||
%Telefónica Group | 50.00% | |||||||
Telefónica Factoring Perú, S.A.C. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | PEN | PEN 6 | |||||||
%Telefónica Group | 50.00% | |||||||
Telefónica Factoring Colombia, S.A. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | COP | COP 4,000 | |||||||
%Telefónica Group | 50.00% | |||||||
Mobile Financial Services Holding SPRL Financial services | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | $ | $ 190 | |||||||
%Telefónica Group | 50.00% | |||||||
Telefónica Consumer Finance, Establecimiento Financiero de Crédito, S.A. Specialised credit institution | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | € 5 | |||||||
%Telefónica Group | 50.00% | |||||||
Tesco Mobile Ltd. Wireless telephony services | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | £ | £ 0 | |||||||
%Telefónica Group | 50.00% | |||||||
The Smart Steps Data Technology Company Big data services in China | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
Investments accounted for by the equity method | ¥ | ¥ 0 | |||||||
%Telefónica Group | 45.00% | |||||||
Telefonica, S.A. | Telefónica Factoring Do Brasil, Ltd. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 40.00% | |||||||
Telefonica, S.A. | Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 40.50% | |||||||
Telefonica, S.A. | Telefónica Factoring Perú, S.A.C. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 40.50% | |||||||
Telefonica, S.A. | Telefónica Factoring Colombia, S.A. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 40.50% | |||||||
Telefónica Factoring España, S.A. Factoring services provider | Telefónica Factoring Do Brasil, Ltd. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 10.00% | |||||||
Telefónica Factoring España, S.A. Factoring services provider | Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 9.50% | |||||||
Telefónica Factoring España, S.A. Factoring services provider | Telefónica Factoring Perú, S.A.C. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 9.50% | |||||||
Telefónica Factoring España, S.A. Factoring services provider | Telefónica Factoring Colombia, S.A. Factoring services provider | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 9.50% | |||||||
Telefonica Internacional | Mobile Financial Services Holding SPRL Financial services | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 26.28% | |||||||
Telefonica Holding Atticus | Mobile Financial Services Holding SPRL Financial services | ||||||||
Disclosure of information about unconsolidated subsidiaries [line items] | ||||||||
%Telefónica Group | 23.72% |
Appendix I_ Scope of Consoli193
Appendix I: Scope of Consolidation - Main Changes in the Scope of Consolidation for the Year (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Telxius Torres Argentina, S.A. Any type of infrastructures and/or communications networks institution and operation | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 60.00% | |
%Telefónica Group | 60.00% | |
Minodes GmbH Technological and consulting services in Big Data provider | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 69.22% | |
%Telefónica Group | 69.22% | |
Co-Trade GmbH Technological services | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 69.22% | |
%Telefónica Group | 69.22% | |
Empresa de Telecomunicaciones de Bucaramanga S.A. E.S.P Communications services operator | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 63.77% | |
%Telefónica Group | 63.77% | |
Metropolitana de Telecomunicaciones S.A E.S.P Communications services operator | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 59.03% | |
%Telefónica Group | 59.03% | |
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 60.93% | |
%Telefónica Group | 60.93% | |
Compañía Señales del Norte, S.A. de C.V Other business support services | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Telefónica Gestión de Servicios Compartidos Perú, S.A.C. Management and administrative services rendered | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Saluspot Spain, S.L. Medical services and articles through internet provider | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 65.00% | |
%Telefónica Group | 65.00% | |
Telefónica Deutschland Holding A.G Exchange of shares with KPN | ||
Disclosure of subsidiaries [line items] | ||
% Participation after operation | 69.22% | |
%Telefónica Group | 100.00% | |
Telxius Telecom, S.A. Holding company | ||
Disclosure of subsidiaries [line items] | ||
% Participation after operation | 60.00% | |
%Telefónica Group | 60.00% | |
Telecomunicaciones Personalizadas, S.L.U Telecommunications service provider | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 100.00% | |
% sold | 100.00% | |
Telxius Torres Latam, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 100.00% | |
%Telefónica Group | 60.00% | |
Telxius Torres España, S.L.U. Any type of infrastructures and/or communications networks institution and operation | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 100.00% | |
%Telefónica Group | 60.00% | |
Telxius Towers Germany, Gmbh. Any type of infrastructures and/or communications networks institution and operation | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 100.00% | |
%Telefónica Group | 60.00% | |
Nova Casiopea RE S.A. Reinsurance | ||
Disclosure of subsidiaries [line items] | ||
% Acquisition | 100.00% | |
%Telefónica Group | 100.00% | |
Televisión Federal S.A.- TELEFE Provision and operation TV and radio broadcasting-services | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Atlántida Comunicaciones, S.A. Participation in public media | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Telefónica Media Argentina, S.A. Participation in public media | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Vocem 2013 Teleservicios, S.A. Call center services | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Telefónica Gestión de Servicios Compartidos Argentina, S.A. Management and administrative services rendered | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Telefónica Gestión de Servicios Compartidos España, S.A. Management and administrative services rendered | ||
Disclosure of subsidiaries [line items] | ||
% sold | 100.00% | |
Healthcommunity | Saluspot Spain, S.L. Medical services and articles through internet provider | ||
Disclosure of subsidiaries [line items] | ||
%Telefónica Group | 50.00% |
Appendix II_ Board and Senio194
Appendix II: Board and Senior Management Compensation - Compensation Allocation of Board and Senior Management (Details) | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Short-term variable compensation | € 3,426,964 |
Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Short-term variable compensation | 990,000 |
Directors | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Salary | 1,923,100 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 3,430,430 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 5,802 |
Total | 5,359,332 |
Directors | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 200,000 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 80,000 |
Other items | 0 |
Total | 280,000 |
Directors | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 200,000 |
Attendance fees | 7,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 91,200 |
Other items | 0 |
Total | 298,200 |
Directors | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Salary | 697,490 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 7,341 |
Total | 704,831 |
Directors | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 27,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 33,600 |
Other items | 0 |
Total | 180,600 |
Directors | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 9,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 11,200 |
Other items | 0 |
Total | 140,200 |
Directors | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 18,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 109,867 |
Other items | 0 |
Total | 247,867 |
Directors | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 17,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 113,600 |
Other items | 0 |
Total | 250,600 |
Directors | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 10,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 11,200 |
Other items | 0 |
Total | 141,200 |
Directors | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 5,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 7,467 |
Other items | 0 |
Total | 132,467 |
Directors | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 78,667 |
Attendance fees | 8,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 12,009 |
Other items | 0 |
Total | 98,676 |
Directors | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 9,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 11,200 |
Other items | 0 |
Total | 140,200 |
Directors | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 28,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 38,267 |
Other items | 0 |
Total | 186,267 |
Directors | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 34,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 124,800 |
Other items | 0 |
Total | 278,800 |
Directors | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 78,667 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 78,667 |
Directors | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 120,000 |
Directors | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 213,556 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 169 |
Total | 213,725 |
Directors | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 41,333 |
Attendance fees | 4,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 46,845 |
Other items | 0 |
Total | 92,178 |
Directors | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 41,333 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 3,858 |
Other items | 0 |
Total | 45,191 |
Directors | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 116,667 |
Attendance fees | 11,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 19,600 |
Other items | 0 |
Total | 147,267 |
Directors | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 120,000 |
Attendance fees | 30,000 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 56,000 |
Other items | 0 |
Total | 206,000 |
Advisory or Control Committees | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Advisory or Control Committees | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Advisory or Control Committees | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 18,200 |
Advisory or Control Committees | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Advisory or Control Committees | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 60,600 |
Advisory or Control Committees | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 20,200 |
Advisory or Control Committees | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 47,867 |
Advisory or Control Committees | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 50,600 |
Advisory or Control Committees | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 21,200 |
Advisory or Control Committees | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 12,467 |
Advisory or Control Committees | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 20,009 |
Advisory or Control Committees | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 20,200 |
Advisory or Control Committees | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 66,267 |
Advisory or Control Committees | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 78,800 |
Advisory or Control Committees | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Advisory or Control Committees | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Advisory or Control Committees | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Advisory or Control Committees | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 23,290 |
Advisory or Control Committees | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 3,858 |
Advisory or Control Committees | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 30,600 |
Advisory or Control Committees | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 86,000 |
Other Companies | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Accrued fixed compensation | 2,000 |
Other Companies | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 80,000 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 80,000 |
Accrued fixed compensation | 80,000 |
Other Companies | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 12,403 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 12,403 |
Other Companies | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 98,418 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 98,418 |
Other Companies | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Accrued fixed compensation | 20,000 |
Other Companies | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 285,464 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 285,464 |
Other Companies | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 9,125 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 9,125 |
Other Companies | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Other Companies | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Salary | 0 |
Fixed Compensation | 0 |
Attendance fees | 0 |
Short-term variable compensation | 0 |
Compensation for belonging to Committees of the Board | 0 |
Other items | 0 |
Total | 0 |
Audit and Control | Advisory or Control Committees | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 34,400 |
Audit and Control | Advisory or Control Committees | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 13,342 |
Audit and Control | Advisory or Control Committees | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 22,200 |
Audit and Control | Advisory or Control Committees | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 23,200 |
Audit and Control | Advisory or Control Committees | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 4,858 |
Audit and Control | Advisory or Control Committees | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Audit and Control | Advisory or Control Committees | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 23,200 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 13,467 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 19,200 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 21,200 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 12,467 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 33,400 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 5,858 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 3,858 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Nominating, Compensation and Corporate Governance | Advisory or Control Committees | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 17,200 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 6,667 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 17,200 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 3,858 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 9,533 |
Service Quality and Customer Service | Advisory or Control Committees | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 28,400 |
Strategy and Innovation | Advisory or Control Committees | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 18,200 |
Strategy and Innovation | Advisory or Control Committees | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 22,200 |
Strategy and Innovation | Advisory or Control Committees | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 20,200 |
Strategy and Innovation | Advisory or Control Committees | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 31,400 |
Strategy and Innovation | Advisory or Control Committees | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 20,200 |
Strategy and Innovation | Advisory or Control Committees | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 3,858 |
Strategy and Innovation | Advisory or Control Committees | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Strategy and Innovation | Advisory or Control Committees | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 15,200 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Isidro Fainé Casas | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. José María Abril Pérez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Ms. Eva Castillo Sanz | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 21,200 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Juan Ignacio Cirac Sasturain | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. José Javier Echenique Landiríbar | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Peter Erskine | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Ms. Sabina Fluxà Thienemann | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Luiz Fernando Furlán | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Ms. Carmen García de Andrés | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Peter Löscher | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Ignacio Moreno Martínez | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 26,867 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Francisco Javier de Paz Mancho | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 22,200 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Francisco José Riberas Mera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Wang Xiaochu | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Gonzalo Hinojosa Fernández de Angulo | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 4,858 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Pablo Isla Álvarez de Tejera | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 0 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Julio Linares López | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | 21,067 |
Regulation and Institutional Affairs | Advisory or Control Committees | Mr. Antonio Massanell Lavilla | |
Disclosure of transactions between related parties [line items] | |
Compensation for belonging to Committees of the Board | € 19,200 |
Appendix II_ Board and Senio195
Appendix II: Board and Senior Management Compensation - Long-Term Savings Systems (Details) | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Contributions | € 673,085 |
Mr. José María Álvarez-Pallete López | Pension plans | |
Disclosure of transactions between related parties [line items] | |
Contributions | 6,060 |
Mr. José María Álvarez-Pallete López | Benefits plan | |
Disclosure of transactions between related parties [line items] | |
Contributions | 540,968 |
Mr. José María Álvarez-Pallete López | Unit link-type Insurance/Pension Plan Surplus | |
Disclosure of transactions between related parties [line items] | |
Contributions | 126,057 |
Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Contributions | 268,922 |
Mr. Ángel Vilá Boix | Pension plans | |
Disclosure of transactions between related parties [line items] | |
Contributions | 0 |
Mr. Ángel Vilá Boix | Benefits plan | |
Disclosure of transactions between related parties [line items] | |
Contributions | 212,665 |
Mr. Ángel Vilá Boix | Unit link-type Insurance/Pension Plan Surplus | |
Disclosure of transactions between related parties [line items] | |
Contributions | € 56,257 |
Appendix II_ Board and Senio196
Appendix II: Board and Senior Management Compensation - Life Insurance Premiums (Details) - Life insurance premiums | 12 Months Ended |
Dec. 31, 2017EUR (€) | |
Mr. José María Álvarez-Pallete López | |
Disclosure of transactions between related parties [line items] | |
Life insurance premiums | € 14,270 |
Mr. Ángel Vilá Boix | |
Disclosure of transactions between related parties [line items] | |
Life insurance premiums | 7,759 |
Mr. César Alierta Izuel | |
Disclosure of transactions between related parties [line items] | |
Life insurance premiums | € 855 |
Appendix II_ Board and Senio197
Appendix II: Board and Senior Management Compensation - Second PIP (Details) - Second PIP - Second Cycle 2015-2018 | 12 Months Ended |
Dec. 31, 2017shares | |
Mr. José María Álvarez-Pallete López | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 192,000 |
Maximum number of shares | 300,000 |
Mr. Ángel Vilá Boix | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 120,000 |
Maximum number of shares | 187,500 |
Mr. César Alierta Izuel | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Theoretical shares allocated (without co-investment) | 324,000 |
Maximum number of shares | 506,250 |
Appendix II_ Board and Senio198
Appendix II: Board and Senior Management Compensation - Narrative (Details) | 1 Months Ended | 12 Months Ended |
May 31, 2016EUR (€) | Dec. 31, 2017EUR (€)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Monthly employee contributions | € 150 | |
Cumulative shares issued (in shares) | shares | 357 | |
Maximum | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Employee contributions | € 1,800 | |
Minimum | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Employee contributions | € 300 | |
Directors | Second PIP | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Award vesting period | 3 years | |
Delivery percent (if within median of performance) | 30.00% | |
Delivery percent (if within third quartile of performance) | 100.00% | |
Delivery percent (if within ninth docile or higher of performance) | 100.00% | |
Directors | Maximum | Second PIP | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Delivery percent (if within ninth docile or higher of performance) | 125.00% | |
Senior Management (Excluding Board Directors) | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Compensation total | € 7,566,822 | |
In-kind compensation | € 94,637 | |
Senior Management (Excluding Board Directors) | Second PIP - First Cycle 2014-2017 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Theoretical shares allocated (without co-investment) (in shares) | shares | 197,650 | |
Maximum number of shares (in shares) | shares | 307,063 | |
Senior Management (Excluding Board Directors) | Second PIP - Second Cycle 2015-2018 | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Theoretical shares allocated (without co-investment) (in shares) | shares | 150 | |
Maximum number of shares (in shares) | shares | 1,429 | |
Mr. Antonio Massanell Lavilla | Senior Management (Excluding Board Directors) | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Compensation total | € 874,796 | |
Benefits plan | Senior Management (Excluding Board Directors) | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Contributions | € 24,058 | |
Pension plans | Senior Management (Excluding Board Directors) | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Contributions | € 83,089 |
Appendix III_ Debentures and199
Appendix III: Debentures and Bonds - Maturity (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 39,581 | € 40,055 |
2,018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,664 | |
2,019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,602 | |
2,020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 5,126 | |
2,021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,826 | |
2,022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,933 | |
Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 16,430 | |
Spain | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 35,364 | |
Spain | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,698 | |
Spain | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,484 | |
Spain | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,598 | |
Spain | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,906 | |
Spain | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,577 | |
Spain | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 16,101 | |
Spain | Telefónica Europe, B.V. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,542 | |
Spain | Telefónica Europe, B.V. | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,042 | |
Spain | Telefónica Europe, B.V. | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Spain | Telefónica Europe, B.V. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2018 | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2018 | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2019 | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2019 | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2020 | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2020 | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2021 | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2021 | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2022 | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | 2022 | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Europe, B.V. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,542 | |
Spain | Telefónica Europe, B.V. | Subsequent years | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,042 | |
Spain | Telefónica Europe, B.V. | Subsequent years | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 500 | |
Spain | Telefónica Europe, B.V. | Fixed interest rate | T. EUROPE BV SEP_00 BOND GLOBAL D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 8.25% | |
Spain | Telefónica Europe, B.V. | Fixed interest rate | TEBV FEB_03 EMTN FIXED TRANCHE B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.875% | |
Spain | Telefónica Emisiones, S.A.U. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 33,222 | |
Spain | Telefónica Emisiones, S.A.U. | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 845 | |
Spain | Telefónica Emisiones, S.A.U. | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 563 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,667 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 55 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 24 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 834 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,750 | |
Spain | Telefónica Emisiones, S.A.U. | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 732 | |
Spain | Telefónica Emisiones, S.A.U. | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,168 | |
Spain | Telefónica Emisiones, S.A.U. | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 451 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,251 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,500 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 788 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 74 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,200 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 213 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 128 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,500 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,042 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 625 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 750 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 800 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 192 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 67 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,400 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,350 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 750 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 150 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 150 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,251 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,668 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 200 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 167 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 417 | |
Spain | Telefónica Emisiones, S.A.U. | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,698 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 845 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 24 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,500 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 74 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 213 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,042 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2018 | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,484 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 834 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,750 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 750 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 150 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2019 | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4,598 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,168 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 788 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,200 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 192 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2020 | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,306 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 55 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,251 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,000 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2021 | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3,577 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 732 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 128 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 67 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,400 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | 2022 | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 14,559 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 563 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,667 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 451 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,500 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 625 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 800 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,350 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 750 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 150 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,251 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,668 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 200 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 167 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 417 | |
Spain | Telefónica Emisiones, S.A.U. | Subsequent years | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 1,250 | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.375% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | EMTN O2 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.375% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JUNE 06 TRANCHE D | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 7.045% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES MAY 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.242% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JULY 15, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.877% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES NOVEMBER 11, 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.693% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | EMTN GBP 12/09/2022 650 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.289% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELE EMISIONES APRIL 3 2010 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.134% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | EMTN GBP 10/08/2029 400 GBP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.445% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES FEBRUARY 2011 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.462% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.797% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES FEBRUARY 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.597% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JUNE 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.25% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.71% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.718% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES DECEMBER 2012 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.45% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES JANUARY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.987% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.961% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.192% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES APRIL 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.57% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MAY 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.736% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2014 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.932% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2013 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.595% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES SEPTEMBER 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.477% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.75% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF EMISIONES APRIL 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.46% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.318% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES OCTOBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.93% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES DECEMBER 2016 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.00% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.528% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.318% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.103% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.213% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES MARCH 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.318% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.90% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES APRIL 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.213% | |
Spain | Telefónica Emisiones, S.A.U. | Fixed interest rate | TELEF. EMISIONES SEPTEMBER 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.715% | |
Spain | Telefónica Emisiones, S.A.U. | Floating interest rate | TELEF EMISIONES JANUARY 07 A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.83% | |
Spain | Telefónica Emisiones, S.A.U. | Floating interest rate | TELEF EMISIONES JANUARY 07 B | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.70% | |
Spain | Telefónica Emisiones, S.A.U. | Floating interest rate | TELEF EMISIONES JULY 2015 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.83% | |
Spain | Telefónica Emisiones, S.A.U. | Floating interest rate | TELEF. EMISIONES JANUARY 2017 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.40% | |
Spain | Telefónica Participaciones | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 600 | |
Spain | Telefónica Participaciones | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Spain | Telefónica Participaciones | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2018 | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2019 | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2020 | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Spain | Telefónica Participaciones | 2021 | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Spain | Telefónica Participaciones | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | 2022 | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Spain | Telefónica Participaciones | Subsequent years | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Spain | Telefónica Participaciones | Fixed interest rate | Exchangeable Bond MARCH 2016 () | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.00% | |
Outside of Parent Country | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 4,217 | |
Outside of Parent Country | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 966 | |
Outside of Parent Country | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 118 | |
Outside of Parent Country | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 528 | |
Outside of Parent Country | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 920 | |
Outside of Parent Country | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1,356 | |
Outside of Parent Country | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 329 | |
Outside of Parent Country | Telefónica Chile, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 546 | |
Outside of Parent Country | Telefónica Chile, S.A. | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 64 | |
Outside of Parent Country | Telefónica Chile, S.A. | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 65 | |
Outside of Parent Country | Telefónica Chile, S.A. | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 417 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2018 | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2018 | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2018 | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 64 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2019 | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 64 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2019 | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2019 | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 13 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2020 | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2020 | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 13 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2020 | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 26 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2021 | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2021 | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 26 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2021 | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 417 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2022 | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2022 | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | 2022 | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 417 | |
Outside of Parent Country | Telefónica Chile, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 26 | |
Outside of Parent Country | Telefónica Chile, S.A. | Subsequent years | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | Subsequent years | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 26 | |
Outside of Parent Country | Telefónica Chile, S.A. | Subsequent years | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | Telefónica Chile, S.A. | Fixed interest rate | Bond Q | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.75% | |
Outside of Parent Country | Telefónica Chile, S.A. | Fixed interest rate | Bond T | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.90% | |
Outside of Parent Country | Telefónica Chile, S.A. | Fixed interest rate | 144A Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.875% | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 383 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 109 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 73 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 73 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 128 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2018 | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2018 | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2018 | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2018 | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2019 | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2019 | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2019 | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2019 | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 146 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2020 | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2020 | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 73 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2020 | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 73 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2020 | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 128 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2021 | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2021 | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2021 | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2021 | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 128 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2022 | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2022 | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2022 | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | 2022 | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 109 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Subsequent years | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 109 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Subsequent years | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Subsequent years | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Subsequent years | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Fixed interest rate | Bond F | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.60% | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Fixed interest rate | Bond G | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.20% | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Fixed interest rate | Bond I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.95% | |
Outside of Parent Country | Telefónica Móviles Chile, S.A. | Fixed interest rate | Bond K | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.90% | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 83 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 83 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2018 | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2019 | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 83 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2020 | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 83 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2021 | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | 2022 | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | Subsequent years | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | Telefónica Finanzas México, S.A. | Fixed interest rate | T. Finanzas Mex 0710 FIX | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 8.07% | |
Outside of Parent Country | Telefónica del Perú, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 362 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 22 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 21 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 17 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 17 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 16 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 7 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 8 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 67 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 31 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 28 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 36 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 26 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 34 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 15 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 13 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 32 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 17 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 15 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2018 | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 38 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 21 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2019 | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 13 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 28 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 28 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2020 | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 8 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 8 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2021 | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 62 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 36 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 26 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | 2022 | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 194 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 22 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 17 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 16 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 7 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 67 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 31 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 34 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Subsequent years | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (11th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 6.65625% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 6.19% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.06% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (13th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.50% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (14th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.34% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond T. Peru 6th Program (15th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.47% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond TM Peru 2nd Program (11th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 7.375% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Fixed interest rate | Bond TM Peru 2nd Program (27th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.53125% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 4th Program (19th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.625% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 4th Program (12th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.6875% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 4th Program (36th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.375% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 4th Program (19th Serie B) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.875% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 4th Program (37th Serie A) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.125% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 4th Program (19th Serie C) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.1875% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 5th Program (22nd Serie Ab) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.50% | |
Outside of Parent Country | Telefónica del Perú, S.A. | Floating interest rate | Bond T. Peru 5th Program (22nd Serie Ac) | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 3.50% | |
Outside of Parent Country | Telefônica Brasil, S.A. | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 1,118 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 328 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 504 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 252 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 10 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 4 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 8 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 12 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 334 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 328 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2018 | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 16 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 10 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2019 | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 258 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 252 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2020 | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 258 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 252 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 1 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 2 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2021 | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 3 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 252 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 252 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | 2022 | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Subsequent years | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.68% | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 8.25% | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.24% | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 4.00% | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds ( Telemig) I | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.50% | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds ( Telemig) II | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.50% | |
Outside of Parent Country | Telefônica Brasil, S.A. | Floating interest rate | Nonconvertible bonds ( Telemig) III | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 0.50% | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 625 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 625 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2018 | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2019 | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2020 | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2021 | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 625 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | 2022 | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 625 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Subsequent years | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | Colombia Telecomunicaciones, S.A, ESP | Fixed interest rate | BOND R144-A | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 5.375% | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 1,100 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2018 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2018 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 600 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2018 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2019 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2019 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2019 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2020 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2020 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2020 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2021 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2021 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2021 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 500 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2022 | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2022 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | 2022 | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Subsequent years | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Subsequent years | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Subsequent years | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Debentures and bonds | € 0 | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Fixed interest rate | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 1.875% | |
Outside of Parent Country | O2 Telefónica Deutschland Finanzierungs, GmbH | Fixed interest rate | Bond | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Interest rate (as a percent) | 2.375% |
Appendix III_ Debentures and200
Appendix III: Debentures and Bonds - Debentures and Bonds Issued (Details) € in Millions, BRL in Millions, $ in Millions | Dec. 31, 2017EUR (€) | Dec. 31, 2017BRL | Dec. 31, 2017USD ($) | Dec. 31, 2016EUR (€) |
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 39,581 | € 40,055 | ||
Spain | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | 35,364 | |||
Spain | Telefónica Emisiones, S.A.U. | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | 33,222 | |||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 1,250 | |||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 1.528% | 1.528% | 1.528% | |
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 500 | |||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 2.318% | 2.318% | 2.318% | |
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 150 | |||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | Floating interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 0.40% | 0.40% | 0.40% | |
Spain | Telefónica Emisiones, S.A.U. | SHELF Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 1,251 | $ 1,500 | ||
Spain | Telefónica Emisiones, S.A.U. | SHELF Bond | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 4.103% | 4.103% | 4.103% | |
Spain | Telefónica Emisiones, S.A.U. | SHELF Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 1,667 | $ 2,000 | ||
Spain | Telefónica Emisiones, S.A.U. | SHELF Bond | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 5.213% | 5.213% | 5.213% | |
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond (Retap) | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 200 | |||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond (Retap) | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 2.318% | 2.318% | 2.318% | |
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 167 | $ 200 | ||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 4.90% | 4.90% | 4.90% | |
Spain | Telefónica Emisiones, S.A.U. | SHELF Bond (Retap) | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 417 | $ 500 | ||
Spain | Telefónica Emisiones, S.A.U. | SHELF Bond (Retap) | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 5.213% | 5.213% | 5.213% | |
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 1,250 | |||
Spain | Telefónica Emisiones, S.A.U. | EMTN Bond | Fixed interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 1.715% | 1.715% | 1.715% | |
Brazil | Telefônica Brasil, S.A. | Debentures | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 504 | BRL 2,000 | ||
Brazil | Telefônica Brasil, S.A. | Debentures | Floating interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 8.25% | 8.25% | 8.25% | |
Brazil | Telefônica Brasil, S.A. | Debentures | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Debentures and bonds | € 252 | BRL 1,000 | ||
Brazil | Telefônica Brasil, S.A. | Debentures | Floating interest rate | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (as a percent) | 0.24% | 0.24% | 0.24% |
Appendix IV_ Financial Instr201
Appendix IV: Financial Instruments - Summary (Details) € in Millions | Dec. 31, 2017EUR (€) |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 47,375 |
EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 39,355 |
Spread (as a percent) | (0.02487%) |
Interest rate (as a percent) | 2.70769% |
CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (67) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 3,110 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.33235% |
CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 80 |
Spread (as a percent) | 0.78359% |
Interest rate (as a percent) | (25.25746%) |
UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 16 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (0.67433%) |
ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (149) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.34968% |
BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1,695 |
Spread (as a percent) | 7.19794% |
Interest rate (as a percent) | 5.20466% |
CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 951 |
Spread (as a percent) | 0.13995% |
Interest rate (as a percent) | 3.60712% |
UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 471 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.16473% |
VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 111 |
Spread (as a percent) | 3.37197% |
Interest rate (as a percent) | 0.00% |
COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1,193 |
Spread (as a percent) | 3.11763% |
Interest rate (as a percent) | 6.79797% |
VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (1) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (10.68895%) |
MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 592 |
Spread (as a percent) | 6.61272% |
Interest rate (as a percent) | 9.49406% |
GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 19 |
Spread (as a percent) | 0.01% |
Interest rate (as a percent) | 4.01302% |
NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (1) |
Spread (as a percent) | 0.01% |
Interest rate (as a percent) | 7.46% |
JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Floating rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 14,359 |
Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 12,030 |
Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 510 |
Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 716 |
Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 237 |
Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 378 |
Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 111 |
Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 274 |
Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 118 |
Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (8) |
Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (7) |
Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Fixed rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 32,903 |
Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 27,325 |
Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (67) |
Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 2,487 |
Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (636) |
Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 16 |
Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (149) |
Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1,458 |
Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 573 |
Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 471 |
Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 919 |
Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (1) |
Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 474 |
Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 27 |
Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 6 |
Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 113 |
Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 113 |
Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Fair value | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 48,526 |
Fair value | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 40,158 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (67) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 3,136 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (1) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 297 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 14 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (141) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 1,699 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 956 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (13) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 467 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 112 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 1,198 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (3) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 604 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 19 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (1) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € (7) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Floating rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | € 14,482 |
Fair value | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 12,140 |
Fair value | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 512 |
Fair value | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (2) |
Fair value | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 714 |
Fair value | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 243 |
Fair value | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 381 |
Fair value | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 112 |
Fair value | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 278 |
Fair value | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 119 |
Fair value | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (8) |
Fair value | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (7) |
Fair value | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Fixed rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 33,832 |
Fair value | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 28,018 |
Fair value | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (67) |
Fair value | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 2,511 |
Fair value | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 1 |
Fair value | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (417) |
Fair value | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 14 |
Fair value | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (141) |
Fair value | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 1,456 |
Fair value | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 575 |
Fair value | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (13) |
Fair value | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 467 |
Fair value | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 920 |
Fair value | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (3) |
Fair value | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 485 |
Fair value | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 27 |
Fair value | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 6 |
Fair value | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | (7) |
Fair value | Rate cap | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 113 |
Fair value | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 113 |
Fair value | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Financial instruments, at fair value | 0 |
Fair value | Underlying debt | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 49,031 |
Fair value | Underlying debt | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 25,568 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 3,372 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 583 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 17,812 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € (5) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € (141) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 818 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € (341) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 254 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 241 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 112 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 246 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € (3) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 427 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 19 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € (1) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 70 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Underlying debt | Floating rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | € 3,863 |
Fair value | Underlying debt | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 2,474 |
Fair value | Underlying debt | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 6 |
Fair value | Underlying debt | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 659 |
Fair value | Underlying debt | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 239 |
Fair value | Underlying debt | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 112 |
Fair value | Underlying debt | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 269 |
Fair value | Underlying debt | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 119 |
Fair value | Underlying debt | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (8) |
Fair value | Underlying debt | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (7) |
Fair value | Underlying debt | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Fixed rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 45,055 |
Fair value | Underlying debt | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 23,094 |
Fair value | Underlying debt | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 3,253 |
Fair value | Underlying debt | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 583 |
Fair value | Underlying debt | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 17,153 |
Fair value | Underlying debt | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (5) |
Fair value | Underlying debt | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (141) |
Fair value | Underlying debt | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 579 |
Fair value | Underlying debt | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (341) |
Fair value | Underlying debt | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 254 |
Fair value | Underlying debt | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 241 |
Fair value | Underlying debt | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (23) |
Fair value | Underlying debt | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | (3) |
Fair value | Underlying debt | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 308 |
Fair value | Underlying debt | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 27 |
Fair value | Underlying debt | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 6 |
Fair value | Underlying debt | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 70 |
Fair value | Underlying debt | Rate cap | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 113 |
Fair value | Underlying debt | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 113 |
Fair value | Underlying debt | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Underlying debt | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Underlying debt, at fair value | 0 |
Fair value | Derivative instruments | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (505) |
Fair value | Derivative instruments | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 14,590 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € (67) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € (236) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € (584) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € (17,515) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 19 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 881 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 1,297 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € (267) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 226 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 952 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 177 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € (77) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Fair value | Derivative instruments | Floating rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | € 10,619 |
Fair value | Derivative instruments | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 9,666 |
Fair value | Derivative instruments | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 506 |
Fair value | Derivative instruments | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (2) |
Fair value | Derivative instruments | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 55 |
Fair value | Derivative instruments | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 4 |
Fair value | Derivative instruments | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 381 |
Fair value | Derivative instruments | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 9 |
Fair value | Derivative instruments | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (11,223) |
Fair value | Derivative instruments | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 4,924 |
Fair value | Derivative instruments | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (67) |
Fair value | Derivative instruments | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (742) |
Fair value | Derivative instruments | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (582) |
Fair value | Derivative instruments | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (17,570) |
Fair value | Derivative instruments | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 19 |
Fair value | Derivative instruments | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 877 |
Fair value | Derivative instruments | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 916 |
Fair value | Derivative instruments | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (267) |
Fair value | Derivative instruments | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 226 |
Fair value | Derivative instruments | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 943 |
Fair value | Derivative instruments | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 177 |
Fair value | Derivative instruments | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | (77) |
Fair value | Derivative instruments | Rate cap | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Derivative instruments | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 0 |
Fair value | Option contract | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Associated derivatives, at fair value | 99 |
Financial instruments, at fair value | 99 |
2018 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (227) |
Spread (as a percent) | (0.20421%) |
Interest rate (as a percent) | (2.09221%) |
2018 | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (67) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2018 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 2,324 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 2.27913% |
2018 | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2018 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (1,915) |
Spread (as a percent) | (0.27432%) |
Interest rate (as a percent) | (1.26538%) |
2018 | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 16 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (0.67433%) |
2018 | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (159) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.09297% |
2018 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 317 |
Spread (as a percent) | (1.06133%) |
Interest rate (as a percent) | 5.36366% |
2018 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (25) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | (1.63653%) |
2018 | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2018 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 175 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.26142% |
2018 | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 17 |
Spread (as a percent) | 3.375% |
Interest rate (as a percent) | 0.00% |
2018 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 799 |
Spread (as a percent) | 0.40981% |
Interest rate (as a percent) | 6.46153% |
2018 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (2) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.02565% |
2018 | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 68 |
Spread (as a percent) | (12.35977%) |
Interest rate (as a percent) | 21.08742% |
2018 | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1 |
Spread (as a percent) | 0.01% |
Interest rate (as a percent) | 4.03854% |
2018 | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (7) |
Spread (as a percent) | 0.01% |
Interest rate (as a percent) | 0.00% |
2018 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2018 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 2,861 |
2018 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 456 |
2018 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (559) |
2018 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (690) |
2018 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (94) |
2018 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 17 |
2018 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 80 |
2018 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (8) |
2018 | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (8) |
2018 | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (7) |
2018 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (3,088) |
2018 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (67) |
2018 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1,868 |
2018 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (1,356) |
2018 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 16 |
2018 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (159) |
2018 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1,007 |
2018 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 69 |
2018 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 175 |
2018 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 719 |
2018 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (2) |
2018 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 76 |
2018 | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 9 |
2018 | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2018 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 6,238 |
Spread (as a percent) | 0.15225% |
Interest rate (as a percent) | 2.17781% |
2019 | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (567) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.03154% |
2019 | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 286 |
Spread (as a percent) | 0.28627% |
Interest rate (as a percent) | 43.21238% |
2019 | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 24 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 16.22295% |
2019 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 346 |
Spread (as a percent) | 2.82196% |
Interest rate (as a percent) | 7.34953% |
2019 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 105 |
Spread (as a percent) | 1.12% |
Interest rate (as a percent) | 3.076% |
2019 | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 31 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.27587% |
2019 | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 25 |
Spread (as a percent) | 3.65803% |
Interest rate (as a percent) | 0.00% |
2019 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 117 |
Spread (as a percent) | 2.8931% |
Interest rate (as a percent) | 10.62995% |
2019 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 16.627% |
2019 | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 40 |
Spread (as a percent) | 6.00992% |
Interest rate (as a percent) | 7.10641% |
2019 | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2019 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1,542 |
2019 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (479) |
2019 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 242 |
2019 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 126 |
2019 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 64 |
2019 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 25 |
2019 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 15 |
2019 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 7 |
2019 | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 4,696 |
2019 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (88) |
2019 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 44 |
2019 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 24 |
2019 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 220 |
2019 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 41 |
2019 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 31 |
2019 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 102 |
2019 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1 |
2019 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 33 |
2019 | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2019 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 6,055 |
Spread (as a percent) | (1.91676%) |
Interest rate (as a percent) | 3.27971% |
2020 | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (394) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 65.20475% |
2020 | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 229 |
Spread (as a percent) | 0.98792% |
Interest rate (as a percent) | 1747.02843% |
2020 | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 373 |
Spread (as a percent) | 1.06657% |
Interest rate (as a percent) | 5.41636% |
2020 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 149 |
Spread (as a percent) | (0.40105%) |
Interest rate (as a percent) | 4.7984% |
2020 | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 70 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.10291% |
2020 | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 16 |
Spread (as a percent) | 9.33067% |
Interest rate (as a percent) | 5.35081% |
2020 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 117 |
Spread (as a percent) | 6.07927% |
Interest rate (as a percent) | 7.72208% |
2020 | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 18 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 4.00% |
2020 | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2020 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 157 |
2020 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (439) |
2020 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 228 |
2020 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 357 |
2020 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (21) |
2020 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 5 |
2020 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 8 |
2020 | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 5,898 |
2020 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 45 |
2020 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1 |
2020 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 16 |
2020 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 170 |
2020 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 70 |
2020 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 11 |
2020 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 109 |
2020 | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 18 |
2020 | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2020 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 7,062 |
Spread (as a percent) | (0.10017%) |
Interest rate (as a percent) | 2.01882% |
2021 | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.03179% |
2021 | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (1,659) |
Spread (as a percent) | (0.06563%) |
Interest rate (as a percent) | 0.00% |
2021 | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 333 |
Spread (as a percent) | 0.35667% |
Interest rate (as a percent) | 5.53382% |
2021 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 288 |
Spread (as a percent) | 26.85973% |
Interest rate (as a percent) | 4.12763% |
2021 | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 8 |
Spread (as a percent) | 3.50% |
Interest rate (as a percent) | 0.00% |
2021 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 62 |
Spread (as a percent) | 4.2728% |
Interest rate (as a percent) | 5.32411% |
2021 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 37 |
Spread (as a percent) | 5.78167% |
Interest rate (as a percent) | 6.66726% |
2021 | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2021 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 3,519 |
2021 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 79 |
2021 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (1,659) |
2021 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 319 |
2021 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 3 |
2021 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 8 |
2021 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 41 |
2021 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 10 |
2021 | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 3,543 |
2021 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (79) |
2021 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 14 |
2021 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 285 |
2021 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 21 |
2021 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 27 |
2021 | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2021 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 3,382 |
Spread (as a percent) | 0.1673% |
Interest rate (as a percent) | 1.61946% |
2022 | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.11531% |
2022 | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 614 |
Spread (as a percent) | 0.00699% |
Interest rate (as a percent) | (186.47226%) |
2022 | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 253 |
Spread (as a percent) | 0.46567% |
Interest rate (as a percent) | 5.04115% |
2022 | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 326 |
Spread (as a percent) | (0.80206%) |
Interest rate (as a percent) | 4.90% |
2022 | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 62 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.4349% |
2022 | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 70 |
Spread (as a percent) | 5.24871% |
Interest rate (as a percent) | 5.3087% |
2022 | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 43 |
Spread (as a percent) | 6.1393% |
Interest rate (as a percent) | 6.6818% |
2022 | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
2022 | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 508 |
2022 | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 442 |
2022 | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 630 |
2022 | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 245 |
2022 | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 329 |
2022 | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 36 |
2022 | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 12 |
2022 | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 2,874 |
2022 | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 178 |
2022 | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (16) |
2022 | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 8 |
2022 | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (3) |
2022 | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 62 |
2022 | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 34 |
2022 | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 31 |
2022 | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
2022 | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 16,845 |
Spread (as a percent) | 0.1796% |
Interest rate (as a percent) | 1.95101% |
Subsequent years | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 1,014 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 5.375% |
Subsequent years | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 2,525 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 11.24184% |
Subsequent years | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € (14) |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 16.273% |
Subsequent years | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 73 |
Spread (as a percent) | (0.07899%) |
Interest rate (as a percent) | 1.88749% |
Subsequent years | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 108 |
Spread (as a percent) | 1.53967% |
Interest rate (as a percent) | 7.02196% |
Subsequent years | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 133 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 6.23574% |
Subsequent years | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 61 |
Spread (as a percent) | 3.23824% |
Interest rate (as a percent) | 0.00% |
Subsequent years | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 129 |
Spread (as a percent) | 3.81544% |
Interest rate (as a percent) | 5.25174% |
Subsequent years | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 287 |
Spread (as a percent) | 5.26392% |
Interest rate (as a percent) | 7.2292% |
Subsequent years | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 6 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 7.46% |
Subsequent years | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Spread (as a percent) | 0.00% |
Interest rate (as a percent) | 0.00% |
Subsequent years | Floating rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 3,443 |
Subsequent years | Floating rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 451 |
Subsequent years | Floating rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 1,834 |
Subsequent years | Floating rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (120) |
Subsequent years | Floating rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 97 |
Subsequent years | Floating rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 61 |
Subsequent years | Floating rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 97 |
Subsequent years | Floating rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 89 |
Subsequent years | Floating rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Floating rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 13,402 |
Subsequent years | Fixed rate | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 563 |
Subsequent years | Fixed rate | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 691 |
Subsequent years | Fixed rate | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | (14) |
Subsequent years | Fixed rate | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 193 |
Subsequent years | Fixed rate | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 11 |
Subsequent years | Fixed rate | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 133 |
Subsequent years | Fixed rate | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 32 |
Subsequent years | Fixed rate | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 198 |
Subsequent years | Fixed rate | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Fixed rate | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 6 |
Subsequent years | Fixed rate | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | EUR | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | CZK | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | GBP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | CHF | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | USD | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | UYU | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | ARS | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | BRL | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | CLP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | UFC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | PEN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | VAC | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | COP | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | VEB | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | MXN | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | GTQ | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | NIO | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | 0 |
Subsequent years | Rate cap | JPY | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Borrowings | € 0 |
Appendix IV_ Financial Instr202
Appendix IV: Financial Instruments - Interest Rate Swaps (Details) - Interest rate swaps € in Millions | Dec. 31, 2017EUR (€) |
Non trading purposes | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (134) |
Non trading purposes | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (3) |
Non trading purposes | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (50) |
Non trading purposes | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Fixed to fix | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 5 |
Non trading purposes | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.2637% |
Average spread (as a percent) | 0.44261% |
Non trading purposes | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.67538% |
Average spread (as a percent) | 1.04085% |
Non trading purposes | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.04098% |
Average spread (as a percent) | 0.38698% |
Non trading purposes | Fixed to floating | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.45457% |
Average spread (as a percent) | 0.61877% |
Non trading purposes | Fixed to floating | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.62908% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.98749% |
Average spread (as a percent) | 0.65977% |
Non trading purposes | Fixed to floating | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.39588% |
Average spread (as a percent) | 1.52265% |
Non trading purposes | Fixed to floating | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.25% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.3946% |
Average spread (as a percent) | 0.35677% |
Non trading purposes | Fixed to floating | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.52265% |
Average spread (as a percent) | 1.61309% |
Non trading purposes | Fixed to floating | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.363% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.68918% |
Average spread (as a percent) | 0.50567% |
Non trading purposes | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.61309% |
Average spread (as a percent) | 1.68324% |
Non trading purposes | Fixed to floating | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.75523% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.03801% |
Average spread (as a percent) | 1.00887% |
Non trading purposes | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.72578% |
Average spread (as a percent) | 0.92195% |
Non trading purposes | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 3.27197% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.26907% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 3.47088% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (1,010) |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (6) |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (76) |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.2546% |
Average spread (as a percent) | 0.47843% |
Non trading purposes | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.21735% |
Average spread (as a percent) | 1.70072% |
Non trading purposes | Floating to fixed | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.86603% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.3847% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.90725% |
Average spread (as a percent) | 0.19602% |
Non trading purposes | Floating to fixed | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.45435% |
Average spread (as a percent) | 0.00027% |
Non trading purposes | Floating to fixed | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.7325% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.05811% |
Average spread (as a percent) | 0.02278% |
Non trading purposes | Floating to fixed | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.5595% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.30378% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.925% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 1.83529% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.95086% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 2.52024% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 871 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 3 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Floating to fixed | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 26 |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (370) |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (190) |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (5) |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (100) |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (75) |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to fix | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (282) |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Receiving leg | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € (40,665) |
Non trading purposes | Receiving leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (2,164) |
Non trading purposes | Receiving leg | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,499) |
Non trading purposes | Receiving leg | Fixed to floating | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (8,097) |
Non trading purposes | Receiving leg | Fixed to floating | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (639) |
Non trading purposes | Receiving leg | Fixed to floating | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (676) |
Non trading purposes | Receiving leg | Fixed to floating | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (5,861) |
Non trading purposes | Receiving leg | Fixed to floating | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (283) |
Non trading purposes | Receiving leg | Fixed to floating | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (28) |
Non trading purposes | Receiving leg | Fixed to floating | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (9,145) |
Non trading purposes | Receiving leg | Fixed to floating | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (283) |
Non trading purposes | Receiving leg | Fixed to floating | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (23) |
Non trading purposes | Receiving leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (7,282) |
Non trading purposes | Receiving leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (283) |
Non trading purposes | Receiving leg | Fixed to floating | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (248) |
Non trading purposes | Receiving leg | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (4,018) |
Non trading purposes | Receiving leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (534) |
Non trading purposes | Receiving leg | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (524) |
Non trading purposes | Receiving leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (6,262) |
Non trading purposes | Receiving leg | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (142) |
Non trading purposes | Receiving leg | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Fixed to floating | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (22,668) |
Non trading purposes | Receiving leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (755) |
Non trading purposes | Receiving leg | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,575) |
Non trading purposes | Receiving leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (22,395) |
Non trading purposes | Receiving leg | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (807) |
Non trading purposes | Receiving leg | Floating to fixed | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,218) |
Non trading purposes | Receiving leg | Floating to fixed | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (5,868) |
Non trading purposes | Receiving leg | Floating to fixed | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (415) |
Non trading purposes | Receiving leg | Floating to fixed | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (789) |
Non trading purposes | Receiving leg | Floating to fixed | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (3,359) |
Non trading purposes | Receiving leg | Floating to fixed | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (4,985) |
Non trading purposes | Receiving leg | Floating to fixed | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (68) |
Non trading purposes | Receiving leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (3,280) |
Non trading purposes | Receiving leg | Floating to fixed | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (169) |
Non trading purposes | Receiving leg | Floating to fixed | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (359) |
Non trading purposes | Receiving leg | Floating to fixed | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (250) |
Non trading purposes | Receiving leg | Floating to fixed | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (192) |
Non trading purposes | Receiving leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (4,544) |
Non trading purposes | Receiving leg | Floating to fixed | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (142) |
Non trading purposes | Receiving leg | Floating to fixed | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Receiving leg | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (17,773) |
Non trading purposes | Receiving leg | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (808) |
Non trading purposes | Receiving leg | Floating to fixed | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | (1,219) |
Non trading purposes | Paying leg | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 370 |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Paying leg | Fixed to fix | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 190 |
Average interest rate (as a percent) | 0.51579% |
Non trading purposes | Paying leg | Fixed to fix | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 5 |
Average interest rate (as a percent) | 0.85% |
Non trading purposes | Paying leg | Fixed to fix | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Paying leg | Fixed to fix | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 100 |
Average interest rate (as a percent) | 1.175% |
Non trading purposes | Paying leg | Fixed to fix | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 75 |
Average interest rate (as a percent) | 0.55% |
Non trading purposes | Paying leg | Fixed to fix | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 0 |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Paying leg | Fixed to fix | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 287 |
Average interest rate (as a percent) | 0.00% |
Non trading purposes | Paying leg | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | € 40,665 |
Non trading purposes | Paying leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 2,164 |
Non trading purposes | Paying leg | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,499 |
Non trading purposes | Paying leg | Fixed to floating | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 8,097 |
Non trading purposes | Paying leg | Fixed to floating | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 639 |
Non trading purposes | Paying leg | Fixed to floating | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 676 |
Non trading purposes | Paying leg | Fixed to floating | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 5,861 |
Non trading purposes | Paying leg | Fixed to floating | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 283 |
Non trading purposes | Paying leg | Fixed to floating | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 28 |
Non trading purposes | Paying leg | Fixed to floating | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 9,145 |
Non trading purposes | Paying leg | Fixed to floating | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 283 |
Non trading purposes | Paying leg | Fixed to floating | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 23 |
Non trading purposes | Paying leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 7,282 |
Non trading purposes | Paying leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 283 |
Non trading purposes | Paying leg | Fixed to floating | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 248 |
Non trading purposes | Paying leg | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 4,018 |
Non trading purposes | Paying leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 534 |
Non trading purposes | Paying leg | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 524 |
Non trading purposes | Paying leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 6,262 |
Non trading purposes | Paying leg | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 142 |
Non trading purposes | Paying leg | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Fixed to floating | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 21,658 |
Non trading purposes | Paying leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 749 |
Non trading purposes | Paying leg | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,499 |
Non trading purposes | Paying leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 22,395 |
Non trading purposes | Paying leg | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 807 |
Non trading purposes | Paying leg | Floating to fixed | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,218 |
Non trading purposes | Paying leg | Floating to fixed | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 5,868 |
Non trading purposes | Paying leg | Floating to fixed | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 415 |
Non trading purposes | Paying leg | Floating to fixed | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 789 |
Non trading purposes | Paying leg | Floating to fixed | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 3,359 |
Non trading purposes | Paying leg | Floating to fixed | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 4,985 |
Non trading purposes | Paying leg | Floating to fixed | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 68 |
Non trading purposes | Paying leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 3,280 |
Non trading purposes | Paying leg | Floating to fixed | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 169 |
Non trading purposes | Paying leg | Floating to fixed | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 359 |
Non trading purposes | Paying leg | Floating to fixed | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 250 |
Non trading purposes | Paying leg | Floating to fixed | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 192 |
Non trading purposes | Paying leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 4,544 |
Non trading purposes | Paying leg | Floating to fixed | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 142 |
Non trading purposes | Paying leg | Floating to fixed | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 0 |
Non trading purposes | Paying leg | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 18,644 |
Non trading purposes | Paying leg | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 811 |
Non trading purposes | Paying leg | Floating to fixed | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for trading | 1,245 |
Derivative instruments | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 424 |
Derivative instruments | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (918) |
Derivative instruments | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (4) |
Derivative instruments | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (216) |
Derivative instruments | Fair value | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (17) |
Derivative instruments | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (7) |
Derivative instruments | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1) |
Derivative instruments | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Fixed to fix | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € 1 |
Derivative instruments | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 2.89729% |
Average spread (as a percent) | 0.02904% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.39864% |
Average spread (as a percent) | 0.10332% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 2 |
Derivative instruments | Fixed to floating | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.927% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.19496% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.4264% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.31678% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.2765% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2018 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 7.25% |
Average spread (as a percent) | 2.80% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.44508% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 5.75% |
Average spread (as a percent) | 1.12% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2019 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 7.25% |
Average spread (as a percent) | 2.80% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.01893% |
Average spread (as a percent) | 0.21854% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 7.89667% |
Average spread (as a percent) | 0.40533% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.86629% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 4.90% |
Average spread (as a percent) | 1.27% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.9525% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2020 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 7.25% |
Average spread (as a percent) | 2.80% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.2497% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.43519% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 4.90% |
Average spread (as a percent) | 1.27% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2021 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 7.25% |
Average spread (as a percent) | 2.80% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.83101% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.51145% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 4.90% |
Average spread (as a percent) | 1.27% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.745% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | 2022 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 7.25% |
Average spread (as a percent) | 2.80% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.24023% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.21218% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.42088% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 4.90% |
Average spread (as a percent) | 1.27% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Subsequent years | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (88) |
Derivative instruments | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (918) |
Derivative instruments | Fixed to floating | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 1 |
Derivative instruments | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (216) |
Derivative instruments | Fixed to floating | Fair value | JPY | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (3) |
Derivative instruments | Fixed to floating | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (17) |
Derivative instruments | Fixed to floating | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Fixed to floating | Fair value | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 1 |
Derivative instruments | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.70475% |
Average spread (as a percent) | 0.20413% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 1.84576% |
Derivative financial assets held for hedging | € (3) |
Derivative instruments | Floating to fixed | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 1 |
Derivative instruments | Floating to fixed | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.70072% |
Average spread (as a percent) | 0.42899% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2018 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2018 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2018 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 5.05372% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2018 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 2.00099% |
Derivative financial assets held for hedging | € (2) |
Derivative instruments | Floating to fixed | 2018 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 5.2518% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.06536% |
Average spread (as a percent) | 1.25351% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2019 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2019 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2019 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2019 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 1.54834% |
Derivative financial assets held for hedging | € (1) |
Derivative instruments | Floating to fixed | 2019 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 2.56599% |
Average spread (as a percent) | 0.05388% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 6.66833% |
Average spread (as a percent) | 0.40533% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.31% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2020 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 5.2518% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.91555% |
Average spread (as a percent) | 0.02695% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 3.2605% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2021 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 5.27453% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.12299% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | 2022 | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 5.29361% |
Derivative financial assets held for hedging | € 3 |
Derivative instruments | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 1.21664% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Subsequent years | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 5.25174% |
Derivative financial assets held for hedging | € (3) |
Derivative instruments | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 511 |
Derivative instruments | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (5) |
Derivative instruments | Floating to fixed | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Floating to fixed | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 3 |
Derivative instruments | Floating to fixed | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (7) |
Derivative instruments | Floating to fixed | Fair value | COP | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (2) |
Derivative instruments | Receiving leg | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (20) |
Derivative instruments | Receiving leg | Fixed to fix | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Receiving leg | Fixed to fix | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (20) |
Derivative instruments | Receiving leg | Fixed to fix | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Receiving leg | Fixed to fix | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Receiving leg | Fixed to fix | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Receiving leg | Fixed to fix | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Receiving leg | Fixed to fix | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Average interest rate (as a percent) | 0.00% |
Derivative financial assets held for hedging | € (37) |
Derivative instruments | Receiving leg | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,800) |
Derivative instruments | Receiving leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (13,385) |
Derivative instruments | Receiving leg | Fixed to floating | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (127) |
Derivative instruments | Receiving leg | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (2,366) |
Derivative instruments | Receiving leg | Fixed to floating | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (74) |
Derivative instruments | Receiving leg | Fixed to floating | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (80) |
Derivative instruments | Receiving leg | Fixed to floating | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (534) |
Derivative instruments | Receiving leg | Fixed to floating | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (32) |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (200) |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,371) |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (563) |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (74) |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (214) |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2018 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (4) |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,132) |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (64) |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2019 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (8) |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,779) |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (127) |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (789) |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (7) |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (192) |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2020 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (8) |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (500) |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,509) |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (3) |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2021 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (8) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,235) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (563) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (3) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (128) |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | 2022 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (4) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,100) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (6,359) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (451) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (3) |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Subsequent years | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,881) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (13,993) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (129) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (2,578) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (74) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (86) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (549) |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Fixed to floating | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (36) |
Derivative instruments | Receiving leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (14,198) |
Derivative instruments | Receiving leg | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (127) |
Derivative instruments | Receiving leg | Floating to fixed | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (248) |
Derivative instruments | Receiving leg | Floating to fixed | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (110) |
Derivative instruments | Receiving leg | Floating to fixed | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (167) |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (2,166) |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (87) |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (72) |
Derivative instruments | Receiving leg | Floating to fixed | 2018 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (70) |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,371) |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (38) |
Derivative instruments | Receiving leg | Floating to fixed | 2019 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (4,097) |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (127) |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (27) |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2020 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (10) |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (1,102) |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (134) |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2021 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (21) |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (192) |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | 2022 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (31) |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (5,270) |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Subsequent years | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (35) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (10,610) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (129) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (247) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | (110) |
Derivative instruments | Receiving leg | Floating to fixed | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € (29) |
Derivative instruments | Paying leg | Fixed to fix | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 20 |
Derivative instruments | Paying leg | Fixed to fix | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Paying leg | Fixed to fix | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.85% |
Derivative financial assets held for hedging | € 20 |
Derivative instruments | Paying leg | Fixed to fix | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Paying leg | Fixed to fix | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Paying leg | Fixed to fix | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Paying leg | Fixed to fix | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 0 |
Derivative instruments | Paying leg | Fixed to fix | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Average spread (as a percent) | 0.00% |
Derivative financial assets held for hedging | € 38 |
Derivative instruments | Paying leg | Fixed to floating | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,800 |
Derivative instruments | Paying leg | Fixed to floating | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 13,385 |
Derivative instruments | Paying leg | Fixed to floating | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 127 |
Derivative instruments | Paying leg | Fixed to floating | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 2,366 |
Derivative instruments | Paying leg | Fixed to floating | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 74 |
Derivative instruments | Paying leg | Fixed to floating | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 80 |
Derivative instruments | Paying leg | Fixed to floating | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 534 |
Derivative instruments | Paying leg | Fixed to floating | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 34 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 200 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,371 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 563 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 74 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 214 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2018 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 4 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,132 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 64 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2019 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 8 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,779 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 127 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 789 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 7 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 192 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2020 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 8 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 500 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,509 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 3 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2021 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 8 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,235 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 563 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 3 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 128 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | 2022 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 4 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,100 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 6,359 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 451 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 3 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Subsequent years | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,793 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 13,075 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 130 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 2,362 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | JPY | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 74 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 83 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | CHF | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 532 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Fixed to floating | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 37 |
Derivative instruments | Paying leg | Floating to fixed | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 14,198 |
Derivative instruments | Paying leg | Floating to fixed | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 127 |
Derivative instruments | Paying leg | Floating to fixed | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 248 |
Derivative instruments | Paying leg | Floating to fixed | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 107 |
Derivative instruments | Paying leg | Floating to fixed | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 168 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 2,166 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 87 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 70 |
Derivative instruments | Paying leg | Floating to fixed | 2018 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 70 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,371 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 37 |
Derivative instruments | Paying leg | Floating to fixed | 2019 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 4,097 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 127 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 27 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2020 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 10 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 1,102 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 134 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2021 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 21 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 192 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | 2022 | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 34 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 5,270 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Subsequent years | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 32 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | EUR | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 11,121 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | USD | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | MXN | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 124 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | GBP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | CLP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 250 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | BRL | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 103 |
Derivative instruments | Paying leg | Floating to fixed | Fair value | COP | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € 27 |
Appendix IV_ Financial Instr203
Appendix IV: Financial Instruments - Foreign Exchange and Interest Rate Options (Details) € in Thousands | Dec. 31, 2017EUR (€) |
Bought | 2018 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | € 120,000 |
Strike price of derivative instrument | 0 |
Bought | 2018 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 800,000 |
Bought | 2018 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2018 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2019 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2019 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | 2019 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2019 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2020 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2020 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | 2020 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2020 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2021 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2021 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | 2021 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2021 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2022 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2022 | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 845,000 |
Bought | 2022 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | 2022 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 845,000 |
Strike price of derivative instrument | 0 |
Bought | Subsequent years | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | Subsequent years | Collars | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Bought | Subsequent years | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Bought | Subsequent years | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2018 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 120,000 |
Strike price of derivative instrument | 0 |
Sold | 2018 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2018 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2019 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2019 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2019 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2020 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2020 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2020 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2021 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2021 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2021 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2022 | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | 2022 | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 845,000 |
Strike price of derivative instrument | 0 |
Sold | 2022 | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | Subsequent years | Currency puts | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | Subsequent years | Caps | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Sold | Subsequent years | Floors | |
Disclosure of financial assets [line items] | |
Derivative financial assets held for hedging | 0 |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2018 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2019 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2020 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2021 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | 2022 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Maximum | Bought | Subsequent years | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2018 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2019 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2020 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2021 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | 2022 | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | 0 |
Minimum | Bought | Subsequent years | Collars | |
Disclosure of financial assets [line items] | |
Strike price of derivative instrument | € 0 |
Appendix IV_ Financial Instr204
Appendix IV: Financial Instruments - Derivative Financial Instruments Receivable / Payable (Details) € in Millions | Dec. 31, 2017EUR (€) |
Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | € (111) |
Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 43 |
Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1) |
Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 33 |
Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 64 |
Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 98 |
Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (348) |
Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (35) |
Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (35) |
Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
ARS | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 66 |
BRL | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 66 |
BRL | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 8 |
BRL | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 8 |
BRL | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (219) |
BRL | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (140) |
BRL | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (79) |
BRL | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (748) |
BRL | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (748) |
BRL | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
BRL | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 420 |
CLP | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 326 |
CLP | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 94 |
CLP | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
CLP | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1 |
CLP | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1,110) |
CLP | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (136) |
CLP | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (134) |
CLP | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (652) |
CLP | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (188) |
CLP | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (569) |
CLP | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (569) |
CLP | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CLP | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 3 |
COP | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 3 |
COP | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (44) |
COP | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (42) |
COP | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (2) |
COP | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (818) |
COP | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (818) |
COP | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
COP | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 67 |
CZK | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 67 |
CZK | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CZK | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 218 |
EUR | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 80 |
EUR | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 74 |
EUR | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 64 |
EUR | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 5,533 |
EUR | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 5,533 |
EUR | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (15,090) |
EUR | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (2,119) |
EUR | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1,583) |
EUR | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3,019) |
EUR | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3,104) |
EUR | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (313) |
EUR | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (4,952) |
EUR | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (2,131) |
EUR | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (2,131) |
EUR | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
EUR | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,802 |
GBP | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 563 |
GBP | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,239 |
GBP | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,022 |
GBP | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,022 |
GBP | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3,084) |
GBP | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (3,084) |
GBP | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
GBP | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 74 |
JPY | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 74 |
JPY | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
JPY | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MAD | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (352) |
MXN | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (352) |
MXN | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
MXN | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
PEN | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 25 |
PEN | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (7) |
PEN | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (6) |
PEN | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1) |
PEN | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (245) |
PEN | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (245) |
PEN | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
PEN | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 363 |
UFC | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 145 |
UFC | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 218 |
UFC | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (109) |
UFC | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (109) |
UFC | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UFC | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 13,455 |
USD | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,963 |
USD | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,027 |
USD | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,612 |
USD | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 3,302 |
USD | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 1,026 |
USD | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 4,525 |
USD | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 2,610 |
USD | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 2,610 |
USD | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (464) |
USD | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (47) |
USD | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (417) |
USD | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1,338) |
USD | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (1,338) |
USD | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
USD | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UDI | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Receive | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 406 |
CHF | Receive | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 214 |
CHF | Receive | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Receive | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 192 |
CHF | Receive | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Receive | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Receive | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 128 |
CHF | Pay | Currency swaps | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
CHF | Pay | Currency swaps | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 128 |
CHF | Pay | Currency swaps | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Receive | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (19) |
UYU | Pay | Forwards | 2018 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | (19) |
UYU | Pay | Forwards | 2019 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | 2021 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | 2022 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | 0 |
UYU | Pay | Forwards | Subsequent years | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Derivative financial assets held for hedging | € 0 |
Appendix V_ Interest-Bearing205
Appendix V: Interest-Bearing Debt (Details) - EUR (€) € in Millions | Dec. 31, 2017 | Dec. 29, 2017 | Dec. 19, 2017 | Feb. 17, 2017 | Jan. 17, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about borrowings [line items] | ||||||
Borrowings | € 47,375 | |||||
Bilateral loan due June 26, 2019 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 1,500 | € 1,500 | ||||
Borrowings | 1,500 | |||||
Syndicated facility due February 19, 2022 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 2,500 | |||||
Borrowings | 0 | |||||
Bilateral loan due December 19, 2017 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 0 | |||||
Borrowings | ||||||
Early repayment of debt | € 200 | |||||
Structured financing due March 11, 2026 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 679 | |||||
Borrowings | 566 | |||||
Structured euro financing due March 11, 2026 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 469 | |||||
Borrowings | 423 | |||||
Bilateral loan due February 23, 2017 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 0 | |||||
Borrowings | 0 | |||||
Bilateral loan due March 19, 2019 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 150 | |||||
Borrowings | 150 | |||||
Early repayment of debt | € 150 | |||||
Credit facility due December 27, 2020 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 380 | |||||
Borrowings | 292 | |||||
Credit facility due March 14, 2020 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 200 | |||||
Borrowings | 167 | |||||
Syndicated facility due March 22, 2022 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 750 | € 750 | ||||
Borrowings | 0 | |||||
EIB financing due June 13, 2025 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 0 | |||||
Borrowings | 450 | |||||
Structured financing due November 28, 2024 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 750 | |||||
Borrowings | 750 | |||||
Telefónica Germany GmbH & Co. OHG | Syndicated facility due March 22, 2022 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 750 | |||||
Borrowings | 0 | € 50 | ||||
Telefónica Germany GmbH & Co. OHG | EIB financing due June 13, 2025 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 0 | |||||
Borrowings | 450 | 250 | ||||
Telefónica, S.A | Structured financing due July 30, 2021 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 153 | |||||
Borrowings | 128 | 190 | ||||
Telefónica, S.A | Structured financing due January 31, 2023 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 551 | |||||
Borrowings | 460 | 635 | ||||
Telefónica, S.A | Structured financing due October 31, 2023 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 446 | |||||
Borrowings | 371 | 505 | ||||
Telefónica, S.A | Bilateral loan due June 26, 2019 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 1,500 | |||||
Borrowings | 1,500 | 1,500 | ||||
Telefónica, S.A | Syndicated facility due February 19, 2022 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 2,500 | |||||
Borrowings | 0 | 550 | ||||
Telefónica, S.A | Bilateral loan due December 19, 2017 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 0 | |||||
Borrowings | 0 | 200 | ||||
Telefónica, S.A | Structured financing due March 11, 2026 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 679 | |||||
Borrowings | 566 | 324 | ||||
Telefónica, S.A | Structured euro financing due March 11, 2026 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 469 | |||||
Borrowings | 423 | 240 | ||||
Telefónica, S.A | Bilateral loan due February 23, 2017 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 0 | |||||
Borrowings | 0 | 100 | ||||
Telefónica, S.A | Bilateral loan due February 23, 2021 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 100 | |||||
Borrowings | 100 | 100 | ||||
Telefónica, S.A | Loan due March 08, 2021 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 300 | |||||
Borrowings | 300 | 300 | ||||
Telefónica, S.A | Bilateral loan due March 19, 2019 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 150 | |||||
Borrowings | 150 | € 300 | 300 | |||
Telefónica, S.A | Credit facility due December 27, 2020 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 380 | |||||
Borrowings | 292 | 0 | ||||
Telefónica, S.A | Credit facility due March 14, 2020 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 200 | |||||
Borrowings | 167 | 0 | ||||
Telefónica Europe, B.V. | Structured financing due November 28, 2024 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 750 | |||||
Borrowings | € 750 | € 0 | ||||
Tranche A | Bilateral loan due June 26, 2019 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | 500 | |||||
Tranche B | Bilateral loan due June 26, 2019 | ||||||
Disclosure of detailed information about borrowings [line items] | ||||||
Contractual limit amount | € 1,000 |
Appendix VI_ Key Regulatory 206
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group - Narrative (Details) BRL in Millions | Nov. 01, 2017 | Aug. 04, 2017COP | Jan. 10, 2017 | Dec. 31, 2016EUR (€) | Dec. 14, 2016MHz_band | Aug. 30, 2016 | May 19, 2016PEN | Apr. 27, 2016 | Jan. 01, 2015 | May 08, 2014 | Mar. 27, 2014MHz_band | Jan. 25, 2014 | May 16, 1994 | Dec. 31, 2017EUR (€) | Dec. 31, 2016EUR (€) | Nov. 30, 2016EUR (€) | Nov. 30, 2016COP | Feb. 29, 2016city | Sep. 30, 2015MHz_band | May 31, 2014channel | Mar. 31, 2014 | Dec. 31, 2013 | Jul. 31, 2013 | May 31, 2012EUR (€) | Aug. 31, 2009 | Dec. 31, 2017EUR (€) | Dec. 31, 2022EUR (€) | Dec. 31, 2021EUR (€) | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Dec. 31, 2017BRLGHz_spectrum_bandmegabyte_per_secondMHz_bandparticipant | Dec. 31, 2014MHz_band | Dec. 31, 2019EUR (€) | Jun. 15, 2017EUR (€) | Dec. 31, 2019megabyte_per_second | Dec. 31, 2017BRL | Aug. 29, 2017EUR (€) | Aug. 29, 2017COP |
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Limit for wholesale roaming caps per SMS | € | € 0.01 | ||||||||||||||||||||||||||||||||||||||
Limit for wholesale roaming caps per minute | € | € 0.032 | ||||||||||||||||||||||||||||||||||||||
Limit for wholesale roaming caps per data services glide path per british pound | € | € 7.7 | ||||||||||||||||||||||||||||||||||||||
Period to transpose directive into national laws | 21 months | ||||||||||||||||||||||||||||||||||||||
Period to identify operators of essential services | 6 months | ||||||||||||||||||||||||||||||||||||||
Percentage of fines issued by the general data protection regulation | 4.00% | ||||||||||||||||||||||||||||||||||||||
Percentage of fines issued | 4.00% | ||||||||||||||||||||||||||||||||||||||
Frequency of band (MHz) | 700 | ||||||||||||||||||||||||||||||||||||||
Wholesale price adopted (EUR per minute) | € | € 0.0109 | ||||||||||||||||||||||||||||||||||||||
Number of cities in competitive areas in wholesale broadband services | city | 66 | ||||||||||||||||||||||||||||||||||||||
Percentage of fixed annual provision of invoiced operating income | 0.90% | ||||||||||||||||||||||||||||||||||||||
Percentage of gross revenue for open concessionaire companies | 3.00% | ||||||||||||||||||||||||||||||||||||||
Percentage of gross revenue for open concessionaire companies to provide pay TV services | 1.50% | ||||||||||||||||||||||||||||||||||||||
Mobile termination rates expiration (EUR per minute) | € | € 0.0166 | ||||||||||||||||||||||||||||||||||||||
Provisional decision for mobile termination rates expiration (EUR per minute) | € | € 0.0107 | € 0.011 | |||||||||||||||||||||||||||||||||||||
Fixed termination rates expiration (EUR per minute) | € | € 0.0024 | ||||||||||||||||||||||||||||||||||||||
Provisional decision for fixed termination rates expiration (EUR per minute) | € | € 0.0010 | ||||||||||||||||||||||||||||||||||||||
Percentage of spectrum license indoor coverage | 95.00% | ||||||||||||||||||||||||||||||||||||||
Number of participants in pre-merger notification regime | participant | 1 | ||||||||||||||||||||||||||||||||||||||
Gross revenue, other participant pre-merger notification regime | BRL | BRL 75 | ||||||||||||||||||||||||||||||||||||||
Maximum time length for merger review procedure | 240 days | ||||||||||||||||||||||||||||||||||||||
Maximum period for radiofrequencies authorizations | 20 years | ||||||||||||||||||||||||||||||||||||||
Auctioned radiofrequencies licenses (MHz) | 700 | ||||||||||||||||||||||||||||||||||||||
Speed of network infrastructure access for data transmission in copper pairs or coaxial cables (Mbit per second) | megabyte_per_second | 10 | ||||||||||||||||||||||||||||||||||||||
Speed of wholesale fixed network infrastructure to transport local and long distance transmission (Mbit per second) | megabyte_per_second | 34 | ||||||||||||||||||||||||||||||||||||||
Percentage of fixed termination fees operators without SMP | 20.00% | ||||||||||||||||||||||||||||||||||||||
Percentage of foreign direct investment allowed | 100.00% | ||||||||||||||||||||||||||||||||||||||
Period of extensible deadline for blackout analog | 5 years | ||||||||||||||||||||||||||||||||||||||
Percentage of total population in service area | 85.00% | ||||||||||||||||||||||||||||||||||||||
Number of regional channels | channel | 4 | ||||||||||||||||||||||||||||||||||||||
Percentage of increase in administrative fines | 30.00% | ||||||||||||||||||||||||||||||||||||||
Period of applicable tariffs for services provided | 5 years | ||||||||||||||||||||||||||||||||||||||
Percentage of reduction of applicable tariffs for services provided | 37.00% | 76.40% | |||||||||||||||||||||||||||||||||||||
Additional period for license renewal | 10 years | ||||||||||||||||||||||||||||||||||||||
Symmetric termination rate (COP per minute) | COP | COP 11.4 | ||||||||||||||||||||||||||||||||||||||
Symmetric termination rate (COP) | COP | 4,300,000 | ||||||||||||||||||||||||||||||||||||||
Established operators and a symmetric termination rate (COP per minute) | COP | 24.58 | ||||||||||||||||||||||||||||||||||||||
Established operators and a symmetric termination rate (COP) | COP | COP 9,800,000 | ||||||||||||||||||||||||||||||||||||||
Period of established operators and a symmetric termination rate | 5 years | 5 years | |||||||||||||||||||||||||||||||||||||
Period of agreement to be in force | 20 years | ||||||||||||||||||||||||||||||||||||||
Period to provide nationwide fixed telecommunications service | 5 years | ||||||||||||||||||||||||||||||||||||||
Fixed telephones to mobile networks (PEN per second) | PEN | PEN 0.0017 | ||||||||||||||||||||||||||||||||||||||
New MTRs that apply to Telefónica Del Perú and Claro (USD cents per minute) | 330 days | ||||||||||||||||||||||||||||||||||||||
Percentage of new MTRs that apply to Telefónica Del Perú and Claro | 63.00% | ||||||||||||||||||||||||||||||||||||||
Frequency ranges owned by Telefonica (GHz) | GHz_spectrum_band | 6 | ||||||||||||||||||||||||||||||||||||||
Amount of established obligation for TMCH to provide wholesale service | GHz_spectrum_band | 2.6 | ||||||||||||||||||||||||||||||||||||||
Block of frequency at national level | 10 | ||||||||||||||||||||||||||||||||||||||
Forecast | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Limit for wholesale roaming caps per data services glide path per british pound | € | € 2.5 | € 3 | € 3.5 | € 4.5 | € 6 | ||||||||||||||||||||||||||||||||||
Period of designation for provision of operator responsibility | 3 years | ||||||||||||||||||||||||||||||||||||||
Broadband data connection (Mbit per second) | megabyte_per_second | 1 | ||||||||||||||||||||||||||||||||||||||
Provisional decision for mobile termination rates expiration (EUR per minute) | € | € 0.0095 | ||||||||||||||||||||||||||||||||||||||
United Kingdom | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Percentage of spectrum license indoor coverage | 98.00% | ||||||||||||||||||||||||||||||||||||||
Percentage of spectrum license in voice and text services | 90.00% | ||||||||||||||||||||||||||||||||||||||
Amount of spectrum license | 800 | ||||||||||||||||||||||||||||||||||||||
Brazil | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Net value of reversible assets held | € 2,209,000,000 | € 2,209,000,000 | BRL 8,763 | ||||||||||||||||||||||||||||||||||||
Region One | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Number of VU-M values (in Brazilian reals) applicable to Telefônica Brazil | 4.928% | ||||||||||||||||||||||||||||||||||||||
Region Two | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Number of VU-M values (in Brazilian reals) applicable to Telefônica Brazil | 5.387% | ||||||||||||||||||||||||||||||||||||||
Region Three | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Number of VU-M values (in Brazilian reals) applicable to Telefônica Brazil | 6.816% | ||||||||||||||||||||||||||||||||||||||
Minimum | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Regulatory Operations, Amount of Spectrum License in Voice and Text Services | 900 | ||||||||||||||||||||||||||||||||||||||
Regulatory operations, license renewal | 850 | ||||||||||||||||||||||||||||||||||||||
Period of agreement to be in force | 5 years | ||||||||||||||||||||||||||||||||||||||
Service concession for transmitting data granted | 713 | ||||||||||||||||||||||||||||||||||||||
Frequency of bands awarded | 768 | ||||||||||||||||||||||||||||||||||||||
Minimum | Forecast | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Percentage of decreasing bill between SMP and the non-SMP operators | 50.00% | ||||||||||||||||||||||||||||||||||||||
Maximum | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Regulatory Operations, Amount of Spectrum License in Voice and Text Services | 1,800 | ||||||||||||||||||||||||||||||||||||||
Regulatory operations, license renewal | 1,900 | ||||||||||||||||||||||||||||||||||||||
Period of agreement to be in force | 20 years | ||||||||||||||||||||||||||||||||||||||
Service concession for transmitting data granted | 748 | ||||||||||||||||||||||||||||||||||||||
Frequency of bands awarded | 803 | ||||||||||||||||||||||||||||||||||||||
Maximum | Forecast | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Percentage of decreasing bill between SMP and the non-SMP operators | 50.00% | ||||||||||||||||||||||||||||||||||||||
Colombia Telecomunicaciones, S.A., ESP | |||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about service concession arrangements [line items] | |||||||||||||||||||||||||||||||||||||||
Additional period for license renewal | 10 years | ||||||||||||||||||||||||||||||||||||||
Percent of ownership interest in subsidiary | 67.50% | ||||||||||||||||||||||||||||||||||||||
Proportion of ownership interests held by non-controlling interests | 32.50% | ||||||||||||||||||||||||||||||||||||||
Arbitration Tribunal Order to Pay, Amount | COP | COP 1,651,012,000,000 | ||||||||||||||||||||||||||||||||||||||
Aggregate capital increase | € 470,000,000 | COP 1,651,012,000,000 | |||||||||||||||||||||||||||||||||||||
Notice Period for Intention to File Claim | 90 days |
Appendix VI_ Key Regulatory 207
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group - Schedule of Activities Subject to Rate Regulation (Details) COP in Thousands | 12 Months Ended |
Dec. 31, 2017COP | |
Disclosure of detailed information about service concession arrangements [abstract] | |
Charge per minute | COP 10,990 |
% Reduction of charge per minute | 42.20% |
Capacity Charge | COP 4,273,389,920 |
% Reduction of capacity charge | 43.90% |
Appendix VI_ Key Regulatory 208
Appendix VI: Key Regulatory Issues and Concessions and Licenses Held by the Telefonica Group - Schedule Of Service Concession Arrangements (Details) - 12 months ended Dec. 31, 2017 | Total | GHz_spectrum_band | MHz_band | agreement | ghz_frequency | location | mhz_per_2100mhz_frequency | mhz_frequency |
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Initial term | 20 years | |||||||
Most common bandwidth (MHz) | 20 | |||||||
Licenses disabled and migrated (MHz) | 2,100 | |||||||
Frequency usable (MHz) | 700 | |||||||
Number of communication licenses | agreement | 2 | |||||||
Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Most common bandwidth (MHz) | 30 | |||||||
Licenses disabled and migrated (MHz) | 1,900 | |||||||
Frequency usable (MHz) | 2,100 | |||||||
Expiring in 2031 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 800 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2030 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 900 | |||||||
Bandwidth (MHz) | 29,600,000 | |||||||
Expiring in 2030 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2030 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2030, Option 2 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,800 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2030, Option 2 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | |||||||
Expiring in 2018, Option 1 Parenthetical | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2020 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 5,000,000 | |||||||
Expiring in 2020, Option 2 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,100 | |||||||
Bandwidth (MHz) | 29,600,000 | |||||||
Expiring in 2030, Option 3 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2030, Option 3 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | |||||||
Expiring in 2030, Option 4 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2018 Parenthetical | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2032 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2032 | Costa Rica | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2018-2030 | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Most common bandwidth (MHz) | 40 | |||||||
Expiring in 2018-2030 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2018-2025-2030, Option 2 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 70,000,000 | |||||||
Expiring in 2028 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 450 | |||||||
Bandwidth (MHz) | 10,000,000 | |||||||
Expiring in 2036 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2036 | Panama | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2036, Option 1 | Panama | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2027 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 3.5 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2027 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 450 | |||||||
Bandwidth (MHz) | 14,000,000 | |||||||
Expiring in 2029 | Venezuela | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2029 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2026 | Venezuela | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 3.5 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2026 | Costa Rica | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 10,600,000 | |||||||
Expiring in 2020-2028 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2023 | Colombia | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2023 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 900 | |||||||
Bandwidth (MHz) | 5,000,000 | |||||||
Expiring in 2023 | Nicaragua | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2024 Option 1 | Colombia | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 15,000,000 | |||||||
Expiring in 2023, Option 1 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,800 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2023, Option 1 | Nicaragua | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2022 | Uruguay | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2022, Option 1 | Venezuela | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2022, Option 2 | Venezuela | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2023, Option 2 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,100 | |||||||
Expiring in 2023, Option 2 | Nicaragua | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 60,000,000 | |||||||
Expiring in 2023, Option 3 | Nicaragua | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2018Option 2 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | |||||||
Expiring in 2030, Option 2 Parenthetical | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2025, Option 2 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2018, Option 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | |||||||
Expiring in 2028, Option 2 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 900 | |||||||
Bandwidth (MHz) | 10,000,000 | |||||||
Expiring in 2028, Option 3 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 900 | |||||||
Bandwidth (MHz) | 16,000,000 | |||||||
Expiring in 2020, Option 3 | Spain | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 3.5 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Infinity, Option 1 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Infinity, Option 1 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Infinity, Option 1 | United Kingdom | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 800 | |||||||
Bandwidth (MHz) | GHz_spectrum_band | 20,000,000 | |||||||
Expiring in 2032-2033 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2043 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2038 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 12,000,000 | |||||||
Expiring in 2037 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 3.5 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2037 | Uruguay | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2024 | Colombia | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2024 | Uruguay | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2022-2024 | Uruguay | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2024 | Uruguay | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Indefinite Option 2 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Indefinite Option 2 | United Kingdom | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 900 | |||||||
Bandwidth (MHz) | 34,800,000 | |||||||
Indefinite Option 3 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Indefinite Option 3 | United Kingdom | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,800 | |||||||
Bandwidth (MHz) | 11,600,000 | |||||||
Indefinite Option 4 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Indefinite Option 4 | United Kingdom | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 5,000,000 | |||||||
Indefinite Option 5 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Indefinite Option 5 | United Kingdom | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,100 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2032, Option 1 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2032, Option 1 | Costa Rica | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 2,100 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Indefinite, Option 6 | Argentina | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 3.5 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Number of locations | location | 37 | |||||||
Expiring in 2045 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2033 | Ecuador | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2033 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_per_2100mhz_frequency | 1,700 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2033 | Uruguay | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2033 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 700 | |||||||
Bandwidth (MHz) | GHz_spectrum_band | 20,000,000 | |||||||
Expiring in 2022 | Venezuela | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2022 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 10,000,000 | |||||||
Expiring in 2030, Option 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 20 | |||||||
Expiring in 2030, Option 1 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2018 Parenthetical 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2018 Option 3 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | |||||||
Expiring in 2018 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | 1,900 | ||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2018 | Peru | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2018 | El Salvador | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 25,000,000 | |||||||
Expiring in 2025 Parenthetical | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 20 | |||||||
Expiring in 2033, Option 1 | Ecuador | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 60,000,000 | |||||||
Expiring in 2025 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 20 | |||||||
Expiring in 2030 Parenthetical | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 30 | |||||||
Expiring in 2018 Option 2 Parenthetical | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 40 | |||||||
Expiring in 2033, Option 2 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 900 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2033, Option 3 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,800 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2025, Option 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 20 | |||||||
Expiring in 2025, Option 2 | Brazil | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,500 | |||||||
Bandwidth (MHz) | 40,000,000 | |||||||
Expiring in 2020, Option 4 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 5,000,000 | |||||||
Expiring in 2025, Option 3 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,000 | |||||||
Bandwidth (MHz) | 14,200,000 | |||||||
Expiring in 2020, Option 5 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,100 | |||||||
Bandwidth (MHz) | 39,600,000 | |||||||
Expiring in 2025, Option 4 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,100 | |||||||
Bandwidth (MHz) | 29,700,000 | |||||||
Expiring in 2025, Option 5 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 60,000,000 | |||||||
Expiring in 2025, Option 6 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 2,600 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2021 | Colombia | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 15,000,000 | |||||||
Expiring in 2021 | El Salvador | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2021 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 3.5 | |||||||
Bandwidth (MHz) | 42,000,000 | |||||||
Expiring in 2034 | Guatamela | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 80,000,000 | |||||||
Expiring in 2026, Option 1 | Costa Rica | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,800 | |||||||
Bandwidth (MHz) | 30,000,000 | |||||||
Expiring in 2026, Option 2 | Costa Rica | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | ghz_frequency | 2,100 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2036, Option 2 | Panama | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in November 2032 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 20 | |||||||
Expiring in April 2033 | Chile | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | 10 | |||||||
Expiring in 2018-2030, Option 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2018-2025-2030 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 60,000,000 | |||||||
Expiring in 2018-2030, Option 2 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2018-2025-2030, Option 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 50,000,000 | |||||||
Expiring in 2018-2030, Option 3 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 60,000,000 | |||||||
Expiring in 2025 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2025 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 800 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2025, Option 1 | Mexico | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 850 | |||||||
Bandwidth (MHz) | 1,920,000 | |||||||
Expiring in 2025, Option 1 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,800 | |||||||
Bandwidth (MHz) | 20,000,000 | |||||||
Expiring in 2025, Option 2 | Germany | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Frequency | mhz_frequency | 1,900 | |||||||
Bandwidth (MHz) | 5,000,000 | |||||||
Maximum | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Most common bandwidth (MHz) | 50 | |||||||
Maximum | Expiring in 2018-2030 | ||||||||
Disclosure of detailed information about service concession arrangements [line items] | ||||||||
Most common bandwidth (MHz) | 60 |
Uncategorized Items - tef-20171
Label | Element | Value |
Cash equivalents | ifrs-full_CashEquivalents | € 1,617,000,000 |
Cash | ifrs-full_Cash | € 4,912,000,000 |